2-22-12 POSTS 

 

[To today’s News / Topics]

 

 

 

Greek plan could mean exile The country has slowly become a ward of the international system, and it may be years before private investors trust it again. (Washington Post) [ Beyond the spin, the scenario is far worse than and far from what it seems and zerohedge.com (posts under the name Durden) weighs in with their always astute analysis beyond the mainstream headlines/soundbites. http://albertpeia.com/todaysbusinesssummarylinks.htm

Scandal: Greece To Receive "Negative" Cash From "Second Bailout" As It Funds Insolvent European BanksEarlier today, we learned the first stunner of the Greek "bailout package", which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup's statement on the Greek bailout, we find another very creative use of "negative" numbers. And by creative we mean absolutely shocking and scandalous. First, as a reminder, even before the current bailout mechanism was in place, Greece barely saw 20% of any actual funding, with the bulk of the money going to European and Greek banks (of which the former ultimately also ended up funding the ECB and thus European banks). Furthermore, we already know that as part of the latest set of conditions of the second Greek bailout, an 'Escrow Account" would be established: this is simply a means for Greek creditors to have a senior claims over any "bailout" cash that is actually disbursed for things such as, you know, a Greek bailout, where the money actually trickles down where it is most needed - the Greek citizens. Here is where it just got surreal. It turns out that not only will Greece not see a single penny from the Second Greek bailout, whose entire Use of Proceeds will be limited to funding debt interest and maturity payments, but the country will actually have to fund said escrow! You read that right: the Greek bailout #2 is nothing but a Greek-funded bailout of Europe's insolvent banks... and the Greek constitution is about to be changed to reflect this!


A Breather And Some Time To Sort Through Some Greek Details 
After months (it seems like years) of trying to avoid a CDS Credit Event, it looks like one is inevitable.  The Greek 5 year CDS is at least 70 bid which may be the highest ever.  The game plan seems to be that Greece will put in retroactive CAC laws.  The PSI will come in below 100%.  Greece will trigger the CAC clauses on the Greek bonds, and we will get 100% participation in all those bonds, and we will get a Credit Event.  The interesting part is that depending on what they manage to do with English law bonds, the only bonds outstanding (not in the hands of the central bank only bonds, and troika loans) will be the new bonds.  If they start CAC’ing each bond, it is possible that there will be no existing bonds outstanding left.  Settlement would be based on the new bond (yes, ISDA has a Sovereign Restructured Deliverable Obligation clause – Section 2.16 of the definitions).  With the amortization schedule in place (and not including any value attributable to the GDP strippable warrants), I get that the new bonds would trade at 30% of par with a yield of just over 13%.  I would be careful paying up for CDS here, because settlement will be against these new bonds, not existing bonds if every old bond is CAC’d.  And given the attitude out of Greece late yesterday, and harsh IMF demands, we may well see that. 

 

Europe's Nash Equilibrium - A Tightly Stretched Rubber Band?In the ongoing 'game of chicken' in Europe (playing out between the core and the periphery as the main two players) it appears we are once again at a point of inflection in the Nash Equilibrium that exists only in the minds of the Eurogroup leaders. As Credit Suisse notes, the continued existence of the Euro will hugely depend on the incentive structure of its members to defend it (and implicitly this means costs and retaliations - downsides - must be appreciated and allocated). These incentives evolve through time (and interventions can have unintended consequences) and brinksmanship and threats (Greece's referendum comments for instance) can improve outcomes in the short-term. Most importantly, it seems the market is among the best mediators to 'fix' each player's action and outcome but each intervention reduces that effect, 'time becomes money' as costs are increasing through procrastination. This leaves the asymmetric interests of the players (remember how exposed the core is to the periphery?) likely to increase break-up risks with Credit Suisse seeing the logical and intended consequence 'an increase in stress' - with either a 'catastrophic' break-up (or member exit) or a long, painful and volatile continuation of the crisis that can only be slowly improved by some type of inter-European enforceable contract. The more intervention, the lower the immediate impact of inaction and the higher the pent-up volatility in the system before threats are taken seriously (or consequences admitted).

 

 

Guest Post: Dangerous IdeasThere is a very clear relationship between economic growth and sufficient quantities of high quality energy. A crude measure of energy quality is its price. The lower the price for a unit of energy, the higher its quality (or net energy), but this is a very crude measure that can and often is heavily distorted by subsidies, market pressures, and other factors. As we squint at the world price for oil and note that Brent today is trading at $120 per barrel, it is clear that this high price is signaling that energy is now more expensive than it used to be. By adopting the belief that Peak Oil has been debunked, one runs the risk of missing the larger story that our current economic model is unsustainable. And that stocks and bonds and other traditional investments that derive a large portion of their current value from expectations of future growth simply may not perform anything like they have in the past. And worse, that recent and continuing efforts to revive the old economy by printing money risk the destruction of the money system itself. Given this all-too-human tendency to attempt to preserve the status quo, in this case by printing money, I must reiterate my advice to be sure that gold forms a significant portion of your core portfolio. 

 

 

Complete Latest Hedge Fund Holdings AnalysisThe fine folks at Street of Walls have been kind enough to provide us with their latest 13F breakdown which looks at the position changes across America's 30 largest and most important hedge funds. While we have already focused on some of the more entertaining ones, and tracked the recent rush back into gold, those curious about what the latest hedge fund hotel stocks are (aside from Apple of course) are encouraged to peruse the following exhaustive report.

 

NAR Continues Tradition Of Making Mockery Of Itself, Revises December Home Sales From +5% to -0.5% And here is yet another reason why we will permanently ignore the pathologically lying real estate syndicate known as the NAR (link): December data was just revised from +5% to -0.5% (from 4.61 million to 4.38 million). Since December market expectations were for a +5.2% print, imagine the sheer horror the algos would have been faced with had the real number been reported on time. Needless to say, if this number had been unrevised, the January +4.3% increase would have been a decline. This way the aglos focused only on the immediate moment get two months of beats in a row. Huzzah. Anyone who trades anything based on this borderline criminal self-reporting enterprise needs to have their head checked. In other news, when will the LIBOR investigation finally target the NAR?

 

Why The Core Needs To Save The PeripheryWe have discussed, at length, the symbiotic (or perhaps parasitic) relationship between the banking system in Europe and the governments (read Central Banks). The LTRO has done nothing but bring them into a closer and more mutually-reinforcing chaotic relationship as we suspect many of the Italian and Spanish banks have gone all-in on the ultimate event risk trade in their government's debt. It should come as no surprise to anyone that the bulk of the Greek bailout money will flow directly to the European banking system and Credit Suisse has recently updated the bank exposure (by country) to peripheral sovereign debt that shows just how massively dependent each peripheral nation's banking system is on its own government for capital and more importantly, how the core (France and Germany) remains massively exposed (in terms of Tier 1 Capital) to the PIIGS. Retroactive (negative) salary cuts may well not be the worst of what is to come as the bankers deleveraging returns to bite them in a phoenix-like resurrection of sovereign risk on now even-more sovereign-bloated (and levered) balance sheets.

 

 

It's Official - Greece Unveils The Negative Salary, And A Whole New Meaning For "Pay To Play" We thought we had seen it all. It turns out we hadn't. The country that gave the world the alphabet, philosophy, and plates with funny sexually ambiguous drawings on them, has outdone itself again. Because beginning this month some Greeks will have to pay for the privilege of having a job.

 

 

No, This Is Not Mount Olympus... ...This is a chart of the Greek bank stock index, which has gone from an all out demented euphoria to suicidal depression in 5 days, as the rumor that Greece is "saved" has been replaced with the reality that Greece is still "completely broke" - if you bought on Monday like most momos, on the expectation that the torrid surge higher would continue, you have now lost 24%. We are awaiting the latest January deposit data from the Greek banking system eagerly, as something tells us Greek citizens, who are already congregating at Syntagma square for today's daily riot, did not follow Venizelos' advice to either "WORK, WORK, WORK" or for that matter "DEPOSIT, DEPOSIT, DEPOSIT."

 

Greek 1 Year Hits 763%If it seems like it was only 5 days ago that Greek bonds could be had for the blockbuster yield of 638%, it is because it was As of today, the same bond was yielding an even more ridiculous 763% (and remember when the MSM fluffers were telling you to buy these at the bargain basement yield of 100% in September 2011?). This price has nothing to do with the Fitch action on the country which is irrelevant, and all to do with the fact that, as noted previously, the cash coupon on the post-reorg bonds was cut once again, this time from 3.6% to just 2%, and the current price on non UK-law bonds is merely indicative of the cash on cash return investors in these bonds expect to make. It also means that the market expects a redefault in just about 1 year. And yes, we realize that at bond prices in the high teens, the yield curve is absolutely meaningless but it is still highly entertaining to watch as Greek bond yields are about to hit quadruple digits, which in itself is very indicative of the recoveries one can expect in a global sovereign ponzi, and yet the powers that be tell us this is a perfectly normal phenomenon, i.e., there is no default, and thus there is no reason to hedge for it. Alas, the whole world has gone mad.

 

 

 

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Housing’s next chapter A regulator’s sober plans for Fannie Mae and Freddie Mac. (Washington Post) [ And what might they be, apart from the sober plans, pray tell. Bigger bonuses? Bigger bailouts? New edition ‘monopoly games’ with an abundance of ‘get out of jail free’ cards? Fannie Mae, Freddie Mac spent $100M on former executives’ legal bills (WP) Zombie Housing Market Chronicles - Fed Fails Again To Stimulate A Housing RecoveryWhile today the association of real estate advertising agents known as the NAR will tell us that the home market is improving - an economic observation which we will completely ignore as any data out of the NAR is now proven to be manipulated and fraudulent, a far better indication of the ongoing implosion in the housing market, and more importantly - the sheer powerlessness of the Fed to do anything about it - came out of the latest weekly Mortgage Brokers Association, which showed that refi applications were down 4.8% W/W, while purchases slid 2.9%, after collapsing 8.4% in the past week. This has taken the Purchase Application index back to the September lows, which just happens to be the lowest print in 16 years. And while this in itself would be ok if not exactly good, it took place at a time when the 30 year mortgage rate was down to all time record lows! In other words, Bernanke's sole prescription to fix the broken housing market diagnosis - low mortgage rates, has now been proven to be a complete disaster, even as Obama does everything in his power to get debt repudiation for deadbeats (at the expense of everyone else of course) and fails. So: what's the next plan?  http://albertpeia.com/todaysbusinesssummarylinks.htm

 

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  ] For those who think this money-printing out of thin air is without cost, you’re in for a worse than rude awakening. The global markets have become a joke! This is a ‘full press’ as in ‘fiat paper printing presses in overdrive’ debased Weimar dollars / currencies that will end quite badly so take this opportunity to take profits while you can. The manipulated, contrived, and fake data has all been unaffordably ‘electioneared’ for ‘electionyeared’ spin and propaganda. Don’t be their fool! The full moon previously helped keep the contraindicated lunatics’ huge suckers’ rally going with across the board media et als complicity (infra). But not quite … reality (will) catch(es) up … you know the drill … typical suckers’ surge into the close off lows, etc.. This will all end quite badly and is much like the ‘floating on air’ stock price scenario that preceded the dot.com and most recent, continuing debacles. {  http://albertpeia.com/todaysbusinesssummarylinks.htm - today’s business summary links only, by day – scroll down as well for today’s links and for more complete context – Encouraged and recommended! } This global suckers’ rally is based on market frothing hopium for unaffordable, contraindicated, failed QE/wall street only welfare (which is being injected sub rosa, see infra), bad news, fraud, b***s***, and desperation alone, as suckers’ rallies ushered in the new year in a most preposterous fashion [Forget the “January Effect”… Instead Skousen http://www.investmentu.com/2010/December/january-effect-vs-siegel-indicator.html  http://albertpeia.com/forgetthejanuaryeffect.htm  , INVESTORS, SKIP THE 'JANUARY INDICATOR' FOR STOCKS Jan. 26, 2012 Mark Hulbert [ the frauds on wall street still shootin’ for the superstitious so-called ‘January effect’ based on based on market frothing hopium for unaffordable, contraindicated, failed QE/wall street only welfare, bad news, fraud, b***s***, and desperation alone to suck suckers in and keep suckers sucked in! Don’t be their fool! Mohammed El Erian gets this and to Frank Motek 1070am relates that he’s using the up moves to reduce risk assets / stocks / exposure, in other words, he’s selling the rallies which is sound advice. The fundamentals/realities, current and prospective, are worse than ever. There are no systems/formulas for these unprecedentedly dire times. Don’t be their sucker! This is an especially great opportunity to sell / take profits because there’s much, much worse to come! Here’s a simple chart of the Dow’s history  http://albertpeia.com/dowjonesindavghistory.htm  . Keep in mind how lowly the dollar’s become in terms of purchasing power and relative to metals as ie., gold, etc.. Don’t be scammed by the frauds on wall street, et als.] with lingering intoxication an explanation as the printing presses and issuance of worthless insurmountable debt paper are in full throttle globally (a testament to global blindness as the blind follow the blind) making this impending disaster at this time an especially great opportunity to sell / take profits because there’s much, much worse to come! jersey-lautenberg based adp with 100% better than expectations private sector jobs number? Nobody thinks so (infra)! Scandal scarred commerce department data? Labor dept. ue claims / ue numbers? Only a fool believes what they say! ( After One Month Respite, Pink Slips Are Flying Again, 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 Today’s Levels Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012). , ‘…technical pattern is predicting the S&P plunges to 935Bank of America via Zero Hedge  Mary Ann Bartels, Bank of America's Head of Technical and Market Analysis , 935 is nothing; the S&P 500 will crash to 579.57United-ICAP's Walter Zimmerman (via WSJ's Tom Kilgore) is a technical analyst who has been looking at the charts and they're telling him that the S&P is headed for 579.57…’   ,  The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming  http://theeconomiccollapseblog.com http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm Why earnings will continue to decline MarketWatch , 10 Things That Every American Should Know About The Federal Reserve  Eco.Coll.Blog http://albertpeia.com/10thingsmustknowaboutfedreserve.htm  #1 The Federal Reserve System Is A Privately Owned Banking Cartel #2 The Federal Reserve System Is A Perpetual Debt Machine #3 The Federal Reserve Has Destroyed More Than 96% Of The Value Of The U.S. Dollar #4 The Federal Reserve Can Bail Out Whoever It Wants To With No Accountability #5 The Federal Reserve Is Paying Banks Not To Lend Money #6 The Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging #7 The Federal Reserve System Is Dominated By The Big Wall Street Banks #8 It Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve System Both Come Into Existence In 1913 #9 The Current Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track Record Of Incompetence #10 The Federal Reserve Has Become Way Too Powerful  ,  A Warning Sign For The World  http://albertpeia.com/warningsignfortheworld.htm Any financial system that is based on debt is doomed to fail.  Today, we are living in the greatest debt bubble that the world has ever seen … ,  Despite Two Thirds Of Components Declining, Empire Fed Prints At Highest Since June 2010  ZeroHedge | Chalk this one to “seasonal adjustments” or something, cause we no longer have any clue what is going on with the data fudging in America. ,  20 Signs You Might Be A Typical American Worker  http://albertpeia.com/20signsoftypicalamericanworker.htm , 10 Signs That America Is Decomposing Right In Front Of Our Eyes   http://albertpeia.com/10signsamericadecomposing.htm , 8 Reasons Why The Greek Debt Deal May Not Stop A Chaotic Greek Debt Default   http://albertpeia.com/8reasonsgreekdebtdefaultstillcoming.htm , Scandal: Greece To Receive "Negative" Cash From "Second Bailout" As It Funds Insolvent European BanksEarlier today, we learned the first stunner of the Greek "bailout package", which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup's statement on the Greek bailout, we find another very creative use of "negative" numbers. And by creative we mean absolutely shocking and scandalous. First, as a reminder, even before the current bailout mechanism was in place, Greece barely saw 20% of any actual funding, with the bulk of the money going to European and Greek banks (of which the former ultimately also ended up funding the ECB and thus European banks). Furthermore, we already know that as part of the latest set of conditions of the second Greek bailout, an 'Escrow Account" would be established: this is simply a means for Greek creditors to have a senior claims over any "bailout" cash that is actually disbursed for things such as, you know, a Greek bailout, where the money actually trickles down where it is most needed - the Greek citizens. Here is where it just got surreal. It turns out that not only will Greece not see a single penny from the Second Greek bailout, whose entire Use of Proceeds will be limited to funding debt interest and maturity payments, but the country will actually have to fund said escrow! You read that right: the Greek bailout #2 is nothing but a Greek-funded bailout of Europe's insolvent banks... and the Greek constitution is about to be changed to reflect this! , Would You Support an Iran War If … : George Washington : 2/22/12  http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm , Europe's Nash Equilibrium - A Tightly Stretched Rubber Band?Guest Post: Dangerous IdeasThere is a very clear relationship between economic growth and sufficient quantities of high quality energy. A crude measure of energy quality is its price. The lower the price for a unit of energy, the higher its quality (or net energy), but this is a very crude measure that can and often is heavily distorted by subsidies, market pressures, and other factors. As we squint at the world price for oil and note that Brent today is trading at $120 per barrel, it is clear that this high price is signaling that energy is now more expensive than it used to be. By adopting the belief that Peak Oil has been debunked, one runs the risk of missing the larger story that our current economic model is unsustainable. And that stocks and bonds and other traditional investments that derive a large portion of their current value from expectations of future growth simply may not perform anything like they have in the past. And worse, that recent and continuing efforts to revive the old economy by printing money risk the destruction of the money system itself. Given this all-too-human tendency to attempt to preserve the status quo, in this case by printing money, I must reiterate my advice to be sure that gold forms a significant portion of your core portfolio. , Complete Latest Hedge Fund Holdings AnalysisThe fine folks at Street of Walls have been kind enough to provide us with their latest 13F breakdown which looks at the position changes across America's 30 largest and most important hedge funds. ,  NAR Continues Tradition Of Making Mockery Of Itself, Revises December Home Sales From +5% to -0.5% And here is yet another reason why we will permanently ignore the pathologically lying real estate syndicate known as the NAR (link): December data was just revised from +5% to -0.5% (from 4.61 million to 4.38 million). Since December market expectations were for a +5.2% print, imagine the sheer horror the algos would have been faced with had the real number been reported on time. Needless to say, if this number had been unrevised, the January +4.3% increase would have been a decline. This way the aglos focused only on the immediate moment get two months of beats in a row. Huzzah. Anyone who trades anything based on this borderline criminal self-reporting enterprise needs to have their head checked. In other news, when will the LIBOR investigation finally target the NAR? , Why The Core Needs To Save The PeripheryWe have discussed, at length, the symbiotic (or perhaps parasitic) relationship between the banking system in Europe and the governments (read Central Banks). The LTRO has done nothing but bring them into a closer and more mutually-reinforcing chaotic relationship as we suspect many of the Italian and Spanish banks have gone all-in on the ultimate event risk trade in their government's debt. It should come as no surprise to anyone that the bulk of the Greek bailout money will flow directly to the European banking system and Credit Suisse has recently updated the bank exposure (by country) to peripheral sovereign debt that shows just how massively dependent each peripheral nation's banking system is on its own government for capital and more importantly, how the core (France and Germany) remains massively exposed (in terms of Tier 1 Capital) to the PIIGS. Retroactive (negative) salary cuts may well not be the worst of what is to come as the bankers deleveraging returns to bite them in a phoenix-like resurrection of sovereign risk on now even-more sovereign-bloated (and levered) balance sheets. , It's Official - Greece Unveils The Negative Salary, And A Whole New Meaning For "Pay To Play" Zombie Housing Market Chronicles - Fed Fails Again To Stimulate A Housing RecoveryWhile today the association of real estate advertising agents known as the NAR will tell us that the home market is improving - an economic observation which we will completely ignore as any data out of the NAR is now proven to be manipulated and fraudulent, a far better indication of the ongoing implosion in the housing market, and more importantly - the sheer powerlessness of the Fed to do anything about it - came out of the latest weekly Mortgage Brokers Association, which showed that refi applications were down 4.8% W/W, while purchases slid 2.9%, after collapsing 8.4% in the past week. , No, This Is Not Mount Olympus... ...This is a chart of the Greek bank stock index, which has gone from an all out demented euphoria to suicidal depression in 5 days, as the rumor that Greece is "saved" has been replaced with the reality that Greece is still "completely broke" ,  Greek 1 Year Hits 763%WTF Did All That Printed Money Go? : ilene : 02/22/2012 - A riddle, wrapped in a mystery, inside an enema. ,  Dave’s Daily: http://www.etfdigest.com MARKETS ARE GETTING TIRED February 22, 2012Clearly it’s hard for markets to consistently produce 3%-5% monthly returns without taking a break. This is what we’re now seeing absent—more positive news. Jobless Claims data Thursday should shed some light on conditions as will next week’s Employment Report which needs to verify a better trend in conditions. Gallup is projecting an unemployment rate in excess of 9% again although they don’t seasonally adjust like the BS BLS does.We read yesterday some breathless financial commentators remarking that mutual funds showed the first positive fund flows since the previous January. That’s a nice assertion, but January is always a time for people to invest for their IRA or 401K and so forth. Surprisingly ETF fund flow data from the previous bullish week showed $1.2 billion in outflows for both equity and bond sectors.Basically, markets are just getting tired. We’ve remarked to members regarding weekly DeMark 9 count indicators which normally reflect “trend exhaustion”. This is not to say these counts are perfect and may just indicate some sideways movement ahead. And, that’s all we may be seeing despite how much liquidity global central banks are feeding bulls. Meanwhile the SEC’s Mary Shapiro said she’s worried about HFT (High Frequency Trading). Worrying isn’t a policy. Wake me when you’re on to something real… , Fitch downgrades Greece on debt swap plan , Greek Debt Deal Done—Yeah Right  Greg Hunter | I keep asking myself, when is a deal not a deal?

 

 

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israelis seem resigned to Iran strike (Washington Post) [ I think Pat Buchanan just said it best: Pat Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought questionable benefit to the US over the last 20 years, former US presidential advisor Pat Buchanan, author of Suicide of a Superpower, shared with … http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm Would You Support a War Against Iran If You Knew the True Facts?  And, a u.s. General weighs in:  Gen. Dempsey: Iran rational actor, not after nukes Press TV | General described any Israeli attack on Iran as “destabilizing.”

Would You Support an Iran War If … : George Washington : 02/22/2012

 http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm

Would You Support a War Against Iran If You Knew the True Facts?

Would you support a war against Iran if you knew that:

  • The CIA admits that the U.S. overthrew the moderate, suit-and-tie-wearing, Democratically-elected prime minister of Iran in 1953. He was overthrown because he had nationalized Iran's oil, which had previously been controlled by BP and other Western oil companies. As part of that action, the CIA admits that it hired Iranians to pose as Communists and stage bombings in Iran in order to turn the country against its prime minister
  • If the U.S. hadn't overthrown the moderate Iranian government, the fundamentalist Mullahs would have never taken over. (Moreover, the U.S. has had a large hand in strengthening radical Islam in the Middle East by supporting radicals to fight the Soviets and others)
  • The U.S. armed and supported Iraq after it invaded Iran and engaged in a long, bloody war which included the use of chemical weapons. Here is former Secretary of Defense Donald Rumsfeld meeting with Saddam Hussein in the 1980's, several months after Saddam had used chemical weapons in a massacre:
  • The U.S. helped fund Iran's nuclear program
  • The U.S. has been actively planning regime change in Iran - and throughout the oil-rich Middle East and North Africa - for 20 years
  • The decision to threaten to bomb Iran was made before 9/11
  • Top American and Israeli military and intelligence officials say that - even if Iran did build a nuclear bomb - it would not be that dangerous, because Israel and America have so many more nukes. And see this
  • The people pushing for war against Iran are the same people who pushed for war against Iraq, and said it would be a "cakewalk". See this and this

 

Russia: Israeli attack on Iran will bring catastrophe REUTERS | After UN nuclear watchdog declares collapse in talks with Tehran, Russian FM says military action would have dangerous consequences.



US Embassy In Afghanistan In Lockdown After Being Targeted By Angry Protesters CNN | Hundreds have forced the US embassy in Kabul into lockdown.



 

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http://albertpeia.com/fbimartinezcongallard.htm  

http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm

 

 

National debt will likely swell under top GOP hopefuls’ plans, report shows Analysis finds Ron Paul’s tax plan is the exception and would slice about $2 trillion from future borrowing. (Washington Post) [ Nothing could match the swelling seen under wobama the b for b***s***, particularly while in ‘election year mode’. At this point, who’s counting? Swelling indeed! The nation’s now one big hematoma of insurmountable debt!  The growing deficit? It’s not as bad as it looks. Modern Monetary Theory, which asserts that budget shortfalls are actually good for the economy, is gaining popularity. If accepted by policymakers, this unorthodox take on financial strategy could affect everything from job creation to the price of goods to the tax code. (Washington Post) [ Not as bad as it looks? Yeah! It’s worse! When I saw this headline juxtapsed with Dylan, immediately apropo to the moment was ‘Blowin’ (in the) Wind’ by Bob Dylan. How totally preposterous; not that it is totally unexpected that such spin, defense of the indefensible is inevitible inasmuch as, prudent or not, like it or not, that’s the way it is in a very big way. So big in fact, that it is literally insurmountable leading to Weimar over-printing of fiat paper currency of unprecedented historical proportion which has already required ‘cover stories’/obfuscation for the consequent ratcheting of food / energy prices, etc., with other costs soon to catch up with incomes statements as these higher prices will not be favorably received nor successfully passed on.

Obama looks to tame U.S. debt Spending plan would pump nearly $500 billion into new construction projects over the next decade. (Washington Post) [ Tame u.s. debt … Yes indeed, by more record level spending … Sounds like a plan! Well, you know the drill; it’s an election year and it takes money ( that’s not really there, and no, not to make money ) to if not get elected, to enable an argument that, though contraindicated, you should be elected. I think we’ve passed the ‘fool me twice, shame on me’ threshold.  Obama Revises CBO Deficit Forecast, Predicts 110% Debt-To-GDP By End Of 2013, Worse Deficit In 2012 Than 2011Ben Bernanke FTMFW Quote Of The DayAnd the winner is... BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT … Here are some other pearls of ‘is dumb’ from helicopter ben b.s. shalom bernanke : http://albertpeia.com/30bunglebenbernankequotes.htm  ,  How much has Obama added to debt? OPINION | The amount he’s actually responsible for adding to the deficit is difficult to calculate.   (Washington Post) [ Well, when you’re dealing with debased, over-printed fiat currency and insurmountable debt levels, the precise amount of debt added on his watch matters less than the fact that he’s increased america’s debt by an amount in excess of the total amounts of all the nations’ presidents since Eisenhower combined. (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com    http://albertpeia.com/34shockingfactsaboutusdebt.htm   ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…).

 

 

In Obama’s export push, clash of U.S. interests That collision has been evident in the U.S. airline industry, where policies that aided Boeing forced another American company, Delta, to lose business. Experts say the approach by Obama, who is visiting a Boeing plant today, forces him to pick winners and losers. ‘Service sector cannot and should not lead our economy’ (Washington Post) [ Ramping up the rhetoric; or rather, the b***s***, which is what wobama does best though his actions and inactions since last campaign mode belie his words. First, there isn’t enough real capital in the world to sustain america’s debt burden, and, the over-printed fiat paper weimar dollar currency will be ‘paid for’ by ‘all’. Second, even assuming, arguendo, the absence of the foregoing insurmountable burden / obstacle, there simply is not enough capital in the world to retransition what’s been decades in the making overseas with modern plants and equipment there, now here, much less being profitable to do so. Too little, too late for wobama the b for b***s*** whose actions have consistently belied his words, and who has literally further insurmountably bankrupted the nation with excessively costly and uneconomic window-dressed numbers. For example, taxpayers should get a share of the GM profits since they’re paying for them, ie., { to pad stats - Drudgereport: Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...  }  and those unaffordably costly cars { to pad sales - Drudgereport (on Government Motors): REPORT: Chevy Volt Costing Taxpayers Up to $250K Per Vehicle...  CAVUTO: Volt sales inflated with taxpayer fleet buys...  }  Is the unemployment rate misleading? WONKBLOG | Some point out that it doesn’t count those who’ve given up looking for work. (Washington Post) [ Duh! Ya think? I don’t even buy their raw numbers; and, even if, arguendo, their raw numbers real, they are election year expedient at best for ‘reporting purposes’ and uneconomic, overcostly, and very, very temporary http://albertpeia.com/governmentfraudulentemploymentstats.htm  . White House was warned about Solyndra layoffs E-mails show Energy Dept. asked firm in October 2010 to delay news of layoffs until after midterm vote. (Washington Post) [ Those unaffordably costly jobs and those unaffordably costly military industrial complex welfare programs .  The ‘so-called improvement’? At what cost for election appearances only?  ***? Milbank: Obama’s budget games He avoided anything resembling a serious proposal. (Washington Post) [ I’m totally astounded! I really am! I even checked / refreshed to see if this was a print / display error! Praise the Lord! It’s true! Criticism of his much-loved wobama! Even pinched myself to see if I was dreaming.  Who woulda think it? Tough love? I’d say we’ll happily take any criticism of wobama by Mr. Milbank as welcomed and nothing short of a monumental breakthrough, whatever the reason. But indeed Mr. Milbank’s quite right and the context is surely typical wobama election-year b***s***! 

 

Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...  ,  Obama's Legacy: A Failed Recovery & Double-Dip Recession  Forbes / Mariotti  ‘…There will be no significant recovery in the United States of America while Barack Obama is President.  The evidence is overwhelming:  everything Obama has tried to fuel a recovery (with his Democratic allies in Congress) has failed.  Statistics claiming jobs saved by the stimulus package were mostly fiction, and cost American taxpayers about $275,000 each.  Nearly 2-1/2 million fewer Americans have jobs than before the stimulus… Obamacare, a program that doesn’t create jobs, but might destroy a lot of them.  He “bailed out” GM, but many believe that his interference didn’t save GM; it merely cost taxpayers an extra $15-20 billion, and stole from legitimate investors to buy off the UAW.  His broken campaign promises are too numerous to list.  At some point, his statute of limitations on blaming Bush runs out…’

 

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http://www.albertpeia.com/stansberrycorruptiondeclineofamerica.htm

 

 

Rogers: Mitt does well, Newt is a zombie (Washington Post) [ I disagree with Mr. Roger’s characterization. Slimy newty, with his abundant visceral beauty, is not a zombie; but rather, should be more accurately characterized as ….. a mooney – sing it for the slimy newt -

‘Newty left his heart, in Southeastern Oceanus Procellarum, a beautiful crater on his full moon, known by view Earth Side-Equatorial Region, Sector E-2 ( Source: The Full Moon Atlas™ ) … Yes newty, it ain’t san fransisco, as you long for its far greater beauty - Hey, you gotta admit, shortly after his moon beam base bomb, SNL had an hilarious skit regarding same; and when you make SNL’s classic comedic skit genre in such a big way in consummate fashion, you just know his days of serious consideration were numbered and over.

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 newt’s not dealing with a full deck. Say anything? This takes the cake! The ‘idea man’? Sure, all he needs is Aladdin’s lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldn’t just ‘go to the moon for the first time’ (that fake video with the flag waving in the moon’s windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion . How pathetic and desperate, that slimy newt! Like his bro’ trump and palin, he’s become the joke that keeps on giving. He’ll still have SNL. ]

 

 

 

Super-PAC donors act as GOP kingmakers  A rarefied group of millionaires and billionaires is acting as kingmakers in the Republican presidential contest, often helping to decide, with a simple transfer of money, which candidate might survive another day in race. (Washington Post) [ Let’s not limit this ‘oligarchy in action’ scenario to the republicans. After all, it took some scrutiny from across the sea to ferret out early on a similar scenario regarding ‘the man of the people’, ‘the man of change’ (NOT on both counts) wobama the b for b***s***; viz., David Icke,  Barack Obama: The Naked Emperor Shocking but true revelations from David Icke|  infra ‘...Obama is just more of the same, a big smile with strings attached, and controlled completely by those that chose him, trained him, sold him and provided his record funding, kept his many skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to be with your Presidential camp, who is alleged to claim that someone claiming to represent me called asking for $100,000, to keep me from coming forward about our (Obama and I) November 1999 encounter of sex and cocaine use?), ... Obama is just another Banksters' moll prostituting himself .., and that's why he supported the grotesque bail-out of the banking system and why he will always put their interests before the people. His financial advisors are straight from the Wall Street 'A' list, including Paul Adolph Volker (Trilateral Commission, Council on Foreign Relations, Bilderberg Group), the head of the Federal Reserve from 1979 to 1987 and Illuminati to his fingertips. Obama has made him head of the Economic Recovery Advisory Board, which is dominated by insiders, including its staff director and chief economist, Austan Goolsbee, a close Obama associate from the University of Chicago. Goolsbee is an initiate of the infamous Illuminati Skull and Bones Society at Yale University, which also includes Boy and Father Bush. It was Goolsbee who told the Canadian government not to worry about Obama's attacks on the economic effects of free trade agreements because his words were just to win votes in the election campaign. Another Wall Street insider, the Zionist Timothy Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign Relations), was appointed by Obama to be his Treasury Secretary. Geithner was the President of the New York Federal Reserve Bank, the most powerful in the private Federal Reserve cartel that masquerades as America's central bank, and he is a former employee of both the Council on Foreign Relations and the appalling Kissinger Associates. Obama's Treasury team locks into the inner circle around the Zionist Robert Rubin, the Director and Senior Counselor of Citigroup, co-chairman of the Council on Foreign Relations, and economic advisor to Obama. Rubin, a member of the Illuminati Bilderberg Group, was the man behind Citigroup's strategy of expanding its risk in debt markets which forced it to be rescued by taxpayers' money. The very people who caused the financial crisis are being appointed by Obama to decide how to respond to it (more taxpayers' money for them and their friends)’ 

http://albertpeia.com/obamadeceptionhighqualityversion.flv  

 

 

Putin unleashes wave of anti-American sentiment ahead of March elections Can U.S.-Russian relations withstand damage from attacks that have gotten more aggressive? (Washington Post) [ One can hardly expect a great leader of a great nation as Russia (yes, it is President Putin) to roll over and bend over for a pervasively corrupt, defacto bankrupt, meaningfully lawless nation as america surely is. The question always boils down to the ultimate cost of better relations with the u.s.. For indigenous populations and foreign nations that have tested the waters of ‘better relations with america’, the outcomes have been fatal (Iraq, Libya, etc., to name a recent few). I personally am constrained to sound and be accused of being ‘anti-american’ (not really, but by their spin certainly) by standing for my rights in property and constitutionally and resisting the costly corruption by the lawless oligarchs presiding over america’s declining / falling destiny today. The vast majority of americans this day are being irrevocably screwed by the u.s. government which is for the sake of current obfuscation bankrupting all in futurity. The corruption is real in america, at the highest levels of all branches of the u.s. government, and I’ve seen this first hand. Then there’s the illegal wars based on lies, war for the sake of heroin production (Afghanistan), and the list goes on (Panama, etc.). http://albertpeia.com/fbimartinezcongallard.htm   Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv ,

 

Vladi­mir Putin: My vision for a better Russia (Washington Post) [ I certainly agree that Putin is a man of vision and a great leader of an historically great nation with a long, rich history. Moreover, as he astutely points out, candidates’ worthless promises have the hollow ring we see epitomized by the jive-talker wobama. As Russia made the transition passing through that oligarchical stage as mentioned, america has devolved into an oligarchy for which there are no meaningfully enforced laws / rules and for which this parasitic, symbiotically venal interaction between elements of all branches of the u.s. government and the oligarchs (ie., wall street, etc.) has been destructive domestically (ie., the national drain of corruption on k street, huge frauds, etc.) and globally (the military industrial complex, wars, etc.). The story of america’s rather brief history, beyond the propaganda, is, in a nutshell, one of ‘taking without asking’, without regard to meaningful law, common decency, or morality. The taking includes lives, property, and most recently, liberty (as manifested in various nefarious, self-created problems for which they provide ‘the solution’; ie., encroachments on speech, etc.).

 

Ter·ror·ist (Noun): Anyone Who Disagrees with the Government : George Washington : 02/08/2012 - 01:03 Any American Who Criticizes the Government May Be Labeled a Terrorist

 

Obama’s Signing Statement on NDAA: I have the power to detain Americans… but I won’t  Infowars | “I want to clarify that my Administration will not authorize the indefinite military detention without trial of American citizens.” [ Who could possibly be foolish enough to believe even one word from jive-talking wobama the b for b***s***? He’s lied about everything! There is not one thing he hasn’t lied about! He’s a pathetically failed president! ]

 

Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens.

Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.

Globalist Campaign Calls for Abolishment of Constitution Kurt Nimmo and Alex Jones | New York Times publishes front page article depicting Constitution as archaic and outdated.

 

Feds Label Bulk Buying of Food a Potential Terrorist Activity Paul Joseph Watson | Despite the fact that FEMA itself spent $1 billion dollars on storable food last year alone.

 

 

SYRIA: CIA-MI6 Intel Ops and Sabotage Felicity Arbuthnot | American and British intel agencies are in Syria executing a plan of destabilization
 

Pakistan Warns West Over Drone Killings of Innocent Civilians The Sun | Pakistan warned Britain to help stop the American “Drone Wars” that are slaughtering hundreds of its innocent civilians.

 

Iran: A Manufactured Threat Stephen Lendman | US media engineers recycle old messages – to pull the American mind-set towards a new war

 

 

Five myths about the presidency (Washington Post) [ Five? Is that all? I can with ease rattle off fifty-five myths relative to those of the last several decades. And, none of them flattering I might add. As for longevity, given their attentive, quality medical care and post office (no pun intended) stress free living, the lengthy aberation is not at all surprising to me. Well here’s a big one not on the list: http://albertpeia.com/obamadeceptionhighqualityversion.flv 

 

 

 

Why Iran wants the bomb (Washington Post) [ Assuming, arguendo, that they do (want the bomb – they deny it –but israel also denied or pretends by silence what everyone knows ain’t so, or none of anyone’s business), they could always say the why is ‘better relations with america’ as has worked for contraindicated american favorite israel (they could also point out that at least they didn’t steal the nuke tech from the u.s. as did israel). The reference to alleged culpability regarding the ‘attempted’ revenge (and the notion of revenge is important and acknoledges what all know is israel culpability regard the assassination of the subject Iranians) killings of israeli dips which have been described by some as false flag attempts to rally  support for invading Iran. I think that say what may, if bellicose, militant israel’s got it, so too should Iran.

War Propaganda Corporate Media Steers World Toward Disaster

Kurt Nimmo | Determined to fan the flames of hysteria and set the stage for a devastating attack on Iran.

FBI Creates Another Terror Patsy

Prisonplanet.com | The supposed terror plot to bomb Washington DC was yet another FBI set up.

 

 

The Hegelian Dialectic: Infowars Nightly News

Prisonplanet.com | Derrin McBreen discusses the Hegelian Dialectic, otherwise known as “Problem-Reaction-Solution”

US officials believe Iran sanctions will fail, making military action likely

London Guardian | Officials in key parts of the Obama administration are increasingly convinced that sanctions will not deter Tehran.

 

 

 

 

 

 

Milbank: With Hispanics, a GOP death wish (Washington Post) [ Wow! GOP death wish? A bit melodramatic on the part of Mr. Milbank. Coupled with yesterday’s long overdue criticism of wobama, one has to wonder whether it’s the dc drinking water that’s the culprit. Then again, could this be a rhetorical way of criticizing the GOP in favor of the Dems or a legitimate heads up so as to preclude the GOP from shooting themselves in the foot. I know not nor care not; the context is the key. Indeed, federal judiciary? Like most things american, the federal courts are rife with corruption. Since when should politics trump (includes corrupt judge maryanne trump barry, and shiff, matz, etc. ) judicial integrity and experience? Answer: since america beyond the propaganda is what inherently criminal, pervasively corrupt defacto is what america truly is and has been. Examples of federal judicial corruption already include the likes of sam alito among others, who though incompetent and corrupt and unequivocally deserving of jail time, sits now on the u.s. supreme court (  http://albertpeia.com/fbimartinezcongallard.htm  , and infra).

 

 

 

 

 

 

 

 

 

Why insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that ‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts, bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet, their’s is only the province of civil remedies with at best criminal referrals to the DOJ for prosecution; good luck with that (remember all those prosecutions promised last election time by what is now the wobama / holder doj of the still extant high level wall street frauds in the trillions…never happened  - { Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) ( So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv ,

 

Insider-trading probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services Committee is being investigated. 'This is a dog and pony show' (Washington Post) [ Yeah! And he’s both the dog and the pony. As for the paulson meeting and denial of ‘inside information’, one can only say for certain, giving bachus the temporary but unlikely benefit of the doubt, that paulson should be in jail for what they did for their buds at goldman et als. And dern it, as a wine man by definition, how else is he going to afford the finest vintages and bacchanalian rituals? Yet, one must agree that they’re already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg   . Well, I guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street ‘greed is good’ in all capital hill / government connected reps.

 

 

THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    Does regulation really kill jobs? (Washington Post) [ Just those corruption-related ones; those organized crime, as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’, bribes, etc., to go around. Energy Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I believe it’s time to start questioning what federal employees get paid for. After all, pervasively corrupt america is defacto bankrupt (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion ) . Moreover, america’s pervasive corruption, even crimes,  has become synonomous with the machinations of any number of federal agencies / departments / all branches of government  (ie., DOJ – holder/fast and furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims , Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission destroyed documents and compromised enforcement case ...   Sen.Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ Report: SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a ‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were murdered by mafia / organized crime [ this was documented with authority in ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] SEC faulted over records shredding The SEC destroyed internal documents that should have been preserved as official federal records, the agency’s inspector general has found. (Washington Post) [ Oh, if it was only that, and only the SEC; and if only they did an incisive investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate   http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html   Paul Joseph Watson | Over two dozen Republicans call for Holder to resign. Though heavily redacted, the documents directly discuss “Operation Fast and Furious” and how it involves “trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        

 

 

 

Ignatius: American history’s greatest flip-flop (Washington Post) [ That’s only if you can be certain of what’s been flipped; and, sifting through the obfuscation and propaganda, what’s really flopped in terms of so-called ‘american history’. 

 

The Gospel according to Obama The president’s contradictory theologies. (Washington Post) [ Oh come on, Mr. Krauthammer! Who’s still counting? Wobama’s total jive-talking b***s***! I mean, count the ways! There’s absolutely no end to his jive! Who’s still buyin’ / believin’? Fools and other ‘tools’?

 

 

 

 

The Post’s View The Senate didn’t do enough to stop insider trading Editorial Board There’s still too much ambiguity on rules covering lawmakers. (Washington Post) [ So much for nobody being above the law! I quite agree that absolutely no ambiguity; indeed, no ‘wiggle room’ whatsoever should be countenanced in this ‘legislation’. Actually, an outright ban would be a more ‘cut and dry’ approach and desirable. Objections? Don’t run for office if you don’t like the rule. After all, Washington politics has strayed a long way from being a ‘public service sacrifice’ to rather an extravagantly accoutered, very costly to the public, but lucrative end in itself; and worse, regardless of results (the fiefdoms seem to be self-perpetuating). Yet, it still comes down to the meaningfulness of the laws, particularly relative to arbitrary enforcement; and, for those who believe the ‘courts’ will apply those laws as written and intended, I’m constrained to say from direct experience: ‘You don’t get out much!’ http://albertpeia.com/fbimartinezcongallard.htm     http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  

 

The Post’s View Drawdown in Afghanistan Why should troops die this year if U.S. is leaving next year? (Washington Post) [ Indeed! But the larger question is why should they have died in Afghanistan at all? Well, the answer’s simple, even beyond the military industrial complex / war profiteer thing. It’s not a question of the heroes in; but rather, it’s all about the heroin. Yes, heroin! That icky, sticky highly addictive and devestating drug that the most sordid of organized crime ilk here and abroad find so appealing and lucrative. And, it’s ‘high time’ for this very newspaper (among all others and media) to step up and say what everyone with a computer and internet connection with a desire to know already knows; viz., the u.s. government is in the illegal drug business (including heroin, cocaine, etc.) in a very big way. Back when I brought a RICO action involving drug money laundering (see infra) I never in my wildest dreams could have thought that reality to be so, yet indeed it is so.

 

Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

Today in Afghanistan, American troops have been seen guarding poppy fields used to make heroin. Those fields were all but wiped out by 2001 when the Taliban destroyed them and forbade that agricultural pursuit. Now they’re flourishing again after the American occupation.

This doesn’t make sense despite all the mainstream reports that American troops are protecting the poppy farmers from the bad guys. Internet sites such as Prison Planet, Info Wars, The Political Coffeehouse and others report otherwise. They connect the CIA and US military to restarting the poppy fields in Afghanistan in 2002, increasing poppy growth by over 650 percent. Who’s telling it like it is?

One way the CIA keeps their drug trafficking hidden from public view

The CIA’s secret operations to influence journalism started in the 1950s by infiltrating the media and bribing journalists to be operatives and assets for the CIA. By 1976, then CIA director William Colby reportedly bragged that the CIA owned the press. Supposedly, this too secret to name operation was coined “Operation Mockingbird” by Deborah Davis in her book Katherine the Great.

Operation Mockingbird worked well against prize winning journalist Gary Webb when his newspaper, the San Jose Mercury News, ran his in depth series on CIA drug trafficking that flooded the USA to help finance the CIA backed Nicaraguan Contras during the 1980s.

Journalists all over the USA jumped on the series, claiming Webb’s journalism was shoddy. The newspaper had to recant and fire him, and Gary Webb was black listed from mainstream journalism completely.

 

Webb retaliated by having his book Dark Alliance published and making the NY Times best seller list, forcing some of his critics to privately eat crow after the fact.

Despite the CIA’s control of the press, a few Mexico and Central America cocaine busts of plane cargoes and discoveries of large cocaine stashes on crashed planes with CIA hired pilots flying them for front companies did hit the mainstream news, albeit briefly.

Remember the movie “Air America?” It was based on an actual CIA owned front company transporting tons of heroin from Southeast Asia’s “Golden Triangle” poppy fields during and after the Vietnam conflicts. Now Afghanistan and the “Golden Crescent” are the featured opium/heroin conduit sources.

Government and big business using drug traffic profits is nothing new

When the U.S. government made deals with the Cosa Nostra mafia to help police ports and harbors during WW II, they breathed life into the heroin trade. Eventually, Marseilles, France was set up by the Corsican mafia to become the “French Connection” for heroin traffic.

But opium trade history goes back further, to colonial times and early America. That’s when American shipping magnates used their fast Clipper Ships to compete with England’s monarch sanctioned dope running East India Company for transporting opium to China.

A few key players created family fortunes from the China opium trade that exist today within some northeast America’s “old money” families.

Among the familiar family names, according to Wikipedia (source below) is Forbes. Another source mentions Astor, a prominently wealthy philanthropic family around New York today (Wiki source below). In those days, trafficking dope was a legitimate business endeavor, immoral but not illegal.

Now it is illegal as well. Ironically, this allows the biggest illicit drug providers to financially benefit the CIA and international banking.’

 

Sources for this article include:

http://whatreallyhappened.com/RANCHO/POLITICS/MOCK/mockingbird.php

http://en.wikipedia.org/wiki/Forbes_family

http://en.wikipedia.org/wiki/John_Jacob_Astor

http://thepoliticalcoffeehouse.com/2011/12/01/us-military-opium-afghanistan/

http://www.minormusings.com/Drugs/Mask.html

 

 

See also:

Big Banks, Gov’ts Collude in Drug War Hypocrisy

Much Of Afghan Drug Money Going To ‘Our Friends’

Steady Stream of Drug Money Departs Afghanistan, U.S. Officials Flummoxed

Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard

Afghanistan drug trade hits $4 billion a year

Occupiers involved in drug trade: Afghan minister

US and NATO protecting Afghan drug trade

B.C. RCMP seize 60,000 poppy plants in record haul

NATO rejects Russian call for Afghan poppy spraying

War on drugs is a hoax: US admits to guarding, assisting lucrative Afghan opium trade

UN: Afghan opium production up by 61% under NATO’s watch

DOJ: Drug Cartel’s Influence Extends Well Beyond Border Well Into the U.S.

 

 

2012 Update: What Part III of the financial crisis will look like

http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN138/PR

http://www.stansberryresearch.com

http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN111/PR

http://www.albertpeia.com/stansberrysinvestmentadvisory.flv   

 http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

 

The Markets Since Their 2000 Highs: We're Not Bouncing Back  http://www.bullfax.com/?q=node-markets-their-2000-highs-were-not-bouncing-back  ... [ Actually the picture is even worse if the real inflation rate used. Wall street is total fraud and b***s***! Keep in mind, in addition to loss of principal, the flux / worry takes its toll on health as well as productivity. ] 02/02/2012 By Doug Short:   The January Effect in 2012 was quite strong, and the U.S. markets have continued the rally that began last October. But let's take a step back and review the performance of the major US indexes in the 21st century through the end of January 2012. Here is an update in response to a standing request from David England, a professor who has developed a popular college level stock market classes at John A. Logan College in Carterville, Illinois. David is also the founder of thetraderseye.com. In his upcoming presentations, he wants to disprove the standard message of Wall Street, "Don't worry! The market will always come back." I furnished David with some charts, and I shared them with regular visitors to my Advisor Perspectives pages. Specifically, David had asked for real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq Composite. So I created two overlays — one with Complete Story »   [ The following are important charts from Doug Short:

http://albertpeia.com/3real1.png

http://albertpeia.com/3real2.png

 

http://albertpeia.com/3real3.png

 

http://albertpeia.com/3real4.png

 

 

 

 

 

I Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent Employment Statistics?  http://theeconomiccollapseblog.com  http://albertpeia.com/governmentfraudulentemploymentstats.htm 

 

 

 

 

 

 

 

The Post’s View The Senate didn’t do enough to stop insider trading Editorial Board There’s still too much ambiguity on rules covering lawmakers. (Washington Post) [ So much for nobody being above the law! I quite agree that absolutely no ambiguity; indeed, no ‘wiggle room’ whatsoever should be countenanced in this ‘legislation’. Actually, an outright ban would be a more ‘cut and dry’ approach and desirable. Objections? Don’t run for office if you don’t like the rule. After all, Washington politics has strayed a long way from being a ‘public service sacrifice’ to rather an extravagantly accoutered, very costly to the public, but lucrative end in itself; and worse, regardless of results (the fiefdoms seem to be self-perpetuating). Yet, it still comes down to the meaningfulness of the laws, particularly relative to arbitrary enforcement; and, for those who believe the ‘courts’ will apply those laws as written and intended, I’m constrained to say from direct experience: ‘You don’t get out much!’ http://albertpeia.com/fbimartinezcongallard.htm     http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  

 

The Post’s View Drawdown in Afghanistan Why should troops die this year if U.S. is leaving next year? (Washington Post) [ Indeed! But the larger question is why should they have died in Afghanistan at all? Well, the answer’s simple, even beyond the military industrial complex / war profiteer thing. It’s not a question of the heroes in; but rather, it’s all about the heroin. Yes, heroin! That icky, sticky highly addictive and devestating drug that the most sordid of organized crime ilk here and abroad find so appealing and lucrative. And, it’s ‘high time’ for this very newspaper (among all others and media) to step up and say what everyone with a computer and internet connection with a desire to know already knows; viz., the u.s. government is in the illegal drug business (including heroin, cocaine, etc.) in a very big way. Back when I brought a RICO action involving drug money laundering (see infra) I never in my wildest dreams could have thought that reality to be so, yet indeed it is so.

 

Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia.com/americangovernmentdrugtrafficking.htm     http://albertpeia.com/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

Today in Afghanistan, American troops have been seen guarding poppy fields used to make heroin. Those fields were all but wiped out by 2001 when the Taliban destroyed them and forbade that agricultural pursuit. Now they’re flourishing again after the American occupation.

This doesn’t make sense despite all the mainstream reports that American troops are protecting the poppy farmers from the bad guys. Internet sites such as Prison Planet, Info Wars, The Political Coffeehouse and others report otherwise. They connect the CIA and US military to restarting the poppy fields in Afghanistan in 2002, increasing poppy growth by over 650 percent. Who’s telling it like it is?

One way the CIA keeps their drug trafficking hidden from public view

The CIA’s secret operations to influence journalism started in the 1950s by infiltrating the media and bribing journalists to be operatives and assets for the CIA. By 1976, then CIA director William Colby reportedly bragged that the CIA owned the press. Supposedly, this too secret to name operation was coined “Operation Mockingbird” by Deborah Davis in her book Katherine the Great.

Operation Mockingbird worked well against prize winning journalist Gary Webb when his newspaper, the San Jose Mercury News, ran his in depth series on CIA drug trafficking that flooded the USA to help finance the CIA backed Nicaraguan Contras during the 1980s.

Journalists all over the USA jumped on the series, claiming Webb’s journalism was shoddy. The newspaper had to recant and fire him, and Gary Webb was black listed from mainstream journalism completely.

 

Webb retaliated by having his book Dark Alliance published and making the NY Times best seller list, forcing some of his critics to privately eat crow after the fact.

Despite the CIA’s control of the press, a few Mexico and Central America cocaine busts of plane cargoes and discoveries of large cocaine stashes on crashed planes with CIA hired pilots flying them for front companies did hit the mainstream news, albeit briefly.

Remember the movie “Air America?” It was based on an actual CIA owned front company transporting tons of heroin from Southeast Asia’s “Golden Triangle” poppy fields during and after the Vietnam conflicts. Now Afghanistan and the “Golden Crescent” are the featured opium/heroin conduit sources.

Government and big business using drug traffic profits is nothing new

When the U.S. government made deals with the Cosa Nostra mafia to help police ports and harbors during WW II, they breathed life into the heroin trade. Eventually, Marseilles, France was set up by the Corsican mafia to become the “French Connection” for heroin traffic.

But opium trade history goes back further, to colonial times and early America. That’s when American shipping magnates used their fast Clipper Ships to compete with England’s monarch sanctioned dope running East India Company for transporting opium to China.

A few key players created family fortunes from the China opium trade that exist today within some northeast America’s “old money” families.

Among the familiar family names, according to Wikipedia (source below) is Forbes. Another source mentions Astor, a prominently wealthy philanthropic family around New York today (Wiki source below). In those days, trafficking dope was a legitimate business endeavor, immoral but not illegal.

Now it is illegal as well. Ironically, this allows the biggest illicit drug providers to financially benefit the CIA and international banking.’

 

Sources for this article include:

http://whatreallyhappened.com/RANCHO/POLITICS/MOCK/mockingbird.php

http://en.wikipedia.org/wiki/Forbes_family

http://en.wikipedia.org/wiki/John_Jacob_Astor

http://thepoliticalcoffeehouse.com/2011/12/01/us-military-opium-afghanistan/

http://www.minormusings.com/Drugs/Mask.html

 

 

See also:

Big Banks, Gov’ts Collude in Drug War Hypocrisy

Much Of Afghan Drug Money Going To ‘Our Friends’

Steady Stream of Drug Money Departs Afghanistan, U.S. Officials Flummoxed

Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard

Afghanistan drug trade hits $4 billion a year

Occupiers involved in drug trade: Afghan minister

US and NATO protecting Afghan drug trade

B.C. RCMP seize 60,000 poppy plants in record haul

NATO rejects Russian call for Afghan poppy spraying

War on drugs is a hoax: US admits to guarding, assisting lucrative Afghan opium trade

UN: Afghan opium production up by 61% under NATO’s watch

DOJ: Drug Cartel’s Influence Extends Well Beyond Border Well Into the U.S.

 

AP source: Donald Trump intends to endorse Newt Gingrich's presidential bid Donald Trump intends to endorse Gingrich’s GOP presidential bid, according to a source close to... (Washington Post) [ Yes, the unreality reality mobster and new york don (trump) and ‘the newt man’ hear some etherial sounds from beyond from ‘the lizard man’ aka the great Jimmy Morrison of The Doors fame in an instructive refrain:

Touch the newt man don
Be thou not afraid
Though his champagne’s now lemonade
Don’t forget the promise that you made
Though it looks like now you have been played
A deck of jokers now betrayed

To the full moon base as been said
Insanity’s what both you pled
As others’ life blood you have bled
Time for lun_a_tics_ like _you for  the harnessed bed…

 

TOUCH ME by THE DOORS
                                                    (Album "The Soft Parade")
 
{ I played this song along the album according to some other versions I was
able to find and it didn't sound well. So, I tried to write my own version
of this song - here is the result. http://www.rockmagic.net/guitar-tabs/the_doors/touch_me.crd }
 
INTRO:
 
               4 times: Am Am Am G Am Am G Am Bm
               2 times: Am7 Am7 Am7 G7 Am7 Am7 G7 Am7 Bm7
               1 times: Am7 -stop-
 
 
VERSE:
 
               Come on, come on, c'mon, c'mon now
               G
               Touch me babe,
               Bm                 C                   Cm
               Can't you see that I am not afraid.
                             A#                        Dm
               What was that promise that you made?                  
                             D#                        F#
               Why won't you tell me what she said?
                             C#
               What was that promise that she made?
 
 
CHORUS:
 
                   F#        Fm
               Now I'm gonna love you
                        F#     G#        C#
               till the heaven stops the rain.
               F#        Fm
               I'm gonna love  you
                        F#    G#            F#
               till the stars fall from the sky
                           C#
               for you and I.

 

 

 

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 
 
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.

 

 

 

Gingrich: Today’s college students are coddled (Washington Post) [ Oh riiiiight, Ché Newty the Revolutionary! They’ve got no jobs and an insurmountably bankrupt nation to look forward to thanks in large part to you, your ilk, your peers, wobama et als; and, notably, through no fault of their own. Besides, says newty, ‘kids, they comb their hair in that funny way’.  Riiiiight, snooty newty, there’s those ‘janitorial jobs’ for which there are even waiting lists of applicants for even those jobs according to reports. Say anything, Ché Newty the Revolutionary! As per wobama, words are cheap; but as we all now know, ultimately very costly when they’re more rhetoric / b***s*** than truth / reality!  Gingrich turns to advisers who believe supply-side economics is the answer Advisers believe solution to nation’s deficit is to spur growth through tax cuts and deregulation. (Washington Post) [ Oh riiiiight! Worked like a charm in creating the last few fraud-induced debacles in this ongoing crisis, and the trickle never quite seems to trickle down that far. Yet, it appears the slimy newt’s found a kindred spirit in that malleable italian, peter ferrara ( ‘Peter Ferrara describes himself as Gingrich’s chief economic policy adviser and has won praise from Gingrich on the campaign trail. A lawyer and libertarian scholar who had long advocated privatizing Social Security — and once acknowledged taking payments from Jack Abramoff to write favorable op-ed pieces about the lobbyist’s clients — Ferrara said he talks to Gingrich almost daily…’), and the frauds on wall street will just love his social security privatization / new blood for the infamous blood-sucking squid (goldman sachs), to keep the ponzi padded with fresh dough once again on the backs of taxpayers (kind of a ‘k street’ kind of drain). Focused regulation of areas of the economy prone to fraud, ie., wall street, and deregulation as to others, ie., small businesses, is a more optimal course.( Bribes, Chinese mob ties alleged at Casino of Gingrich money man Sheldon Adelson Denies Wrongdoing as FBI, SEC Probe Alleged Corrupt Practices …).

Sargent: Romney camp — Newt ‘erratic, reckless’ (Washington Post) [ Yeah, that slimy newt; erratic, reckless … (n)e(u)rotic, feckless. I’m still on the edge of my chair as to what sweet Nancy’s got on the slimy newt though her lips are sealed even as the daredevil newty says, bring it on, let’s hear what she’s got, which of course newty would already know yet might not register with him given his unconflicted, sociopathic, ‘revolutionary’ nature. Let’s hear it, Nancy!  Pelosi: Gingrich Will Not Get The Nomination, There Is Something I Know CNN | “There is something I know. The Republicans, if they choose to nominate him that’s their prerogative. I don’t even think that’s going to happen.” , Drudgereport: PELOSI THREAT: NEWT WON'T BE PRESIDENT    'THERE IS SOMETHING I KNOW' { And, what is that Nancy, pray tell…that newty has a coutee (vagina) and Calista is a lesbian? Or, that the newter has a couter and Calista is a man? Please do tell! }

 

Scientists fear end of trips to Mars They’re worried and angry as the White House won’t commit to the plan to explore the red planet. (Washington Post) [ Been there, done that courtesy of Brian DePalma. Why waste money the nation doesn’t have by going back? After all, the nation is defacto bankrupt.  buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ... ‘Mission to Mars’ … Previous: OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).

Astronauts' tracks, trash seen in new moon photos [ The easiest thing in the world to contrive (don’t forget they can with some precision today send robotics to ie., mars, etc.) and doctor so don’t be taken in by their fraudulent b***s***! They’re probably desperately looking for some money / budgetary consideration for their continued boondoggles. No man has ever set foot on the moon to date. As NASA transitions, U.S. space politics in a state of flux  (Washington Post) [ U.S. space politics? I didn’t know there was such a thing. But I, and I’m sure all know that ‘u.s. politics are spaced’. Flux? One could only hope. I’d say, ‘fleeced’; as in we’ve all been fleeced.  Sterner: 5 myths about NASA   (Washington Post) [ If you can’t get past the first myth; viz., that they actually set foot on the moon, the other 5 so-called myths become irrelevant. Indeed, post-Eisenhower, and certainly post-Kennedy-assassination / coup d’etat, NASA was all military / military industrial complex (moreover, someone knowledgeable about such matters said essentially that in explaining to my surprise the transition to the shuttle program it was said there was greater military application in same). In any event, Russia’s been doing quite a bit of ‘heavy lifting’ vis-à-vis the space station, but not inordinately so. All I can say with certainty is that the universe beyond this solar system is forever protected / insulated. The fact is, they never set foot on the moon; and, in light of the pervasive corruption in and defacto bankruptcy of the nation, their perpetual wars toward making a hell on earth militate against anything but trying to do even just a little bit better (for a start), terrestrially.   NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:   Launch of secret US space ship masks even more secret launch of new weapon    The Militarization of Outer Space: The Pentagon’s “Space Warriors”  Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”     


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 don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.

First fake moonwalker blasts Obama's space plan  msnbc.com - 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 … it’s not the economy that makes the election a nail-biter. Rather, it’s wobama’s ‘long-winded on rhetorics but short on specifics’ typical b***s*** that makes for this a ‘nail-biter’. No specifics? Indeed! From ‘wobama speak’ we can surmise from this ‘hedge’ that at least he wouldn’t be vulnerable to the legitimate accusations that his actions (and non-actions) belie his words as last time around. As for the economy, it’s all that bad and worse! Are George Soros, The IMF And The World Bank Purposely Trying To Scare The Living Daylights Out Of Us?  [ Short answer: No! The crisis is real! ]   http://albertpeia.com/diretimesahead.htm .

[GOP reactions reflect party divisions Indiana Gov. Mitch Daniels makes official response, but Romney and Cain also offer their takes. (WP) [ Although I didn’t listen to / watch wobama’s b***s*** session (his words are absolutely worthless and as last time around, belied by his misguided deeds), I did pay attention to the intelligent, succinct, poignant Republican Response by Mitch Daniels, Gov. Indiana, and confidently say, if he so chooses the path, he will prospectively be President. A way his formidable background and talents could more quickly be brought to the fore would be a Ron Paul / Mitch Daniels ticket which would be a Mitch Daniels candidacy then Presidency in 2016. This would give the nation and the world ‘time to breath’ while recovering from wobama way of  failings / missteps. You can’t ignore Oliver Stone’s sagacious opinion in such matters as these. ( Oliver Stone: I Would Vote For Ron Paul Over Obama  Steve Watson | “He’s the only one who’s saying anything intelligent about the world”. ) His great film anthology speaks for itself and has ‘caught and treated’ some of the most significant, recent american historical ‘breakpoints’.]

 

Limbaugh: Ron Paul “Sounds Like An Islamic Terrorist” Steve Watson | Says he would have no problem with TSA detaining US Congressman. [ Ah, come on. You got to infer something’s supplanted limbaugh’s hillbilly heroin and clouding his judgement. He’s watched too much ‘24’ (while sampling his ‘talk radio’ among others, he’d talk of this show as if reality) ‘under the influence’ which has had the desired mainstream hypnotic effect on his bloated / clouded perspective. ]

 

Obama’s best surrogate Gingrich boosts the president’s reelection prospects. (Washington Post) [ Indeed, that’s what’s being said across the board. You can count on Mr. Milbank having his fingers crossed for a slimy newt candidacy. Snooty newty, literally a self-proclaimed ‘revolutionary’. Che Gingrich! I can almost envision the posters / t-shirts. It’s really quite amazing / tragic! Narcissistic personality disorder? Could be. See here: He’s So Vain, He’d Be Right in Thinking This Post Is About Him By ANDREW ROSENTHAL NYT  http://loyalopposition.blogs.nytimes.com/2012/01/20/hes-so-vain-hed-be-right-in-thinking-this-post-is-about-him  …You can’t set too much store by press releases from one campaign about another, but I have to say that Mitt Romney’s team has come out with a devastating one. It’s titled, poetically: “‘I think Grandiose Thoughts’ A Selection of Speaker Gingrich’s Thoughts Over The Years.”

It cites some of the most breathtakingly self-congratulatory statements that I’ve ever seen from a politician, and that is a high bar.

Last month: “I think I am a transformational figure.” (Shouldn’t there have been a footnote crediting Barack Obama with that line?)

In 1985, when he was a backbencher in the Reagan G.O.P., to put it generously: “I want to shift the entire planet. And I’m doing it … I represent real power.” (Maybe that explains global warming.)

In 1992, when he was on the verge of becoming Speaker of the House, one of the most non-revolutionary things you can do: “I am essentially a revolutionary.”

And in 2005: “I first talked about [saving civilization] in August of 1958.” It’s fairly impressive that Mr. Gingrich remembers the exact date he first mentioned saving civilization. Too bad it’s now been almost 54 years and he still hasn’t done it.

All politicians love to compare themselves to previous politicians, and Republicans especially love to compare themselves to Abraham Lincoln, whose Republican Party, of course, had no connection to the current one apart from the name. But Mr. Gingrich truly excels at this, as in all other matters egotistical.

The Romney news release, which is carefully sourced, contains examples of Mr. Gingrich likening himself to Abraham Lincoln, Ronald Reagan, Margaret Thatcher (another revolutionary, essentially), Woodrow Wilson, Henry Clay, Charles de Gaulle (aren’t Republicans supposed to disdain the French?), William Wallace (from the movie “Braveheart,” not the actual William Wallace); the Duke of Wellington (presumably not for the beef or the boots), Thomas Edison, Vince Lombardi, the Wright brothers, and any old Viking. And Moses…’ [In this respect, viz., potentially suffering from a narcissistic personality disorder, he’s not so different from wobama the b for b***s***]: ‘… During a recent 60 Minutes interview, Barack Obama said that only 3 presidents in U.S. history accomplished more than he did during the first two years of his presidency….

“The issue here is not going be a list of accomplishments. As you said yourself, Steve, you know, I would put our legislative and foreign policy accomplishments in our first two years against any president — with the possible exceptions of Johnson, F.D.R., and Lincoln — just in terms of what we’ve gotten done in modern history. But, you know, but when it comes to the economy, we’ve got a lot more work to do.”

He had to be joking, right? Sadly, he was not joking…’ The Economic Collapse December 21, 2011 http://albertpeia.com/40piecesevidenceusdecline.htm

Romney, Gingrich clash sharply in debate The former Massachusetts governor attacked the former House speaker as a failed leader, a K Street influence peddler and a candidate who would put the party at risk in the general election. Gingrich’s firm paid $25,000 a month by Freddie, according to contract (Washington Post) [ True enough, sweet mitt; the slimy newt’s just an unscrupulous peddler; and none other than Frank’s ‘rat pack bro’, the Dino is ushered in from beyond by Frank to croon in his smooth as greecey italian way and warn us all:

 

 

The Peddler’s Serenade {recorded 1962 Dean Martin joined Frank Sinatra's Reprise ... "The Peddler's Serenade" (Jimmy Eaton / J.J. Corvo / Paul McGrane}

 

There’s a peddler and former speaker of the house

Was forced to resign ‘cause he’s such a louse

The peddler slimy newt with nothing of substance to sell

Just like wobama will bring the nation down to hell

 

 

(Actual lyrics in pertinent part)

There's a peddler comes to our house

With such wonderful bargains to sell

And he starts our hearts to tingling

Just as soon as he pushed the bell

Fannie, Freddie writedowns too costly: regulator WASHINGTON (Reuters) - The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the two mortgage firms to write down loan principal would require more than $100 billion in fresh taxpayer funds… [ In other words, like the fed, banks, fannie/freddie are carrying  worthless toxic assets ‘marked to anything’. ]

 

 

The two faces of Newt Gingrich With few campaign advisers to keep him on track, the candidate is showing his nasty side. (Washington Post) [ Yes indeed, we see ‘both sides now’ of ‘nasty newt’; as ominously warned by the sound from beyond of none other but Frank { Performed by

Frank Sinatra 1968, Written by Joni Mitchell First release Both Sides Now by Judy Collins on audio album Wildflowers (November 1967) }

Rows and flows of newt’s white hair
And icy screams from bombs in the air
And unfettered cannons ev'rywhere
I've looked at mushroom clouds that way …

 

 

Krauthammer: The GOP’s suicide march (Washington Post) [ Wow! Mr. Krauthammer must have been having a ‘bad hair day’. Suicide march? I don’t think so. I even was compelled to look up his (vaulted mis)use of ‘manichean’ (definitions infra) in his rather grimly devised piece. Whew! Time to break out the ‘sackcloth and ashes’. I truly have never seen Mr. Krauthammer so ‘off his game’. If one can’t appreciate the ultimate ‘raison d’etre’ for the occupy movement vis-à-vis the egregious, gargantuan, still unprosecuted wall street frauds, clearly, that person’s not been paying attention; and, to ignore same is to do so at the nation’s peril [ Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) [ So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv , ] . I often point to the stupidity of americans generally, but not so dumb to ignore the most basic math coupled with common sense relative to these nation-debilitating, unjustifiable frauds, boondoggles. At this juncture I feel obliged to state that I haven’t voted for decades (kind of along the lines of ‘George Carlin’s famed defense of his own non-voting record which he justified by reminding all that Hitler came to power in a full, free, democratic election by a landslide’). Yet, on all the ‘big ones’, I’ve always taken a prior position based on the ‘reality’ of the prospective result. May I humbly say, I’ve never, ever been wrong. These are ‘debates’ …’words’… geared toward positioning one or another for the opportunity of the ‘big job’. To expect anything less than at least a ‘little bit of juglar’ is a bit naïve. So calm down Mr. Krauthammer; nothing’s been lost. Testament to Mr. Krauthammer being ‘off his game’ here is his positing of ‘wobama the b for b***s***’ as being smart. Au contraire Mr. Krauthammer! Wobama’s quite dumb! If smart, wobama would have done as he said he would do last campaign, and the nation would have been far better off for it! Parenthetically, look to who’s pushing the censorship bills; now, that’s political desperation! To cheer Mr. Krauthammer up, there’s also that egregious ‘Keystone’ misstep which even The Post’s Editorial Board felt compelled to point out. We’ll just chalk this up to ‘(temporary) situational anxiety disorder’.

 

 

 

Should I (Reveal) { Recorded by Frank Sinatra  Songwriters: Nacio Herb Brown, Arthur Freed }

Romney, Gingrich clash sharply in debate The former Massachusetts governor attacked the former House speaker as a failed leader, a K Street influence peddler and a candidate who would put the party at risk in the general election. Gingrich’s firm paid $25,000 a month by Freddie, according to contract (Washington Post) [ True enough, sweet mitt; the slimy newt’s just an unscrupulous peddler; and none other than Frank’s ‘rat pack bro’, the Dino is ushered in from beyond by Frank to croon in his smooth as greecey italian way and warn us all:

 

 

The Peddler’s Serenade {recorded 1962 Dean Martin joined Frank Sinatra's Reprise ... "The Peddler's Serenade" (Jimmy Eaton / J.J. Corvo / Paul McGrane}

 

There’s a peddler and former speaker of the house

Was forced to resign ‘cause he’s such a louse

The peddler slimy newt with nothing of substance to sell

Just like wobama will bring the nation down to hell…

 

 

Marcus: Gingrich shoots the messenger    Parker: Gingrich’s plea of persecution  (Washington Post) [ Yeah! Poor (not really thanks to that slithery ‘k street phenomena of money for nothing’) slimy newt. There’s really no excuse for blaming the media. I actually believe her (could be a familiar ‘meaning of the word is, is’ scenario) but to that I say, ‘So What’! After all, if it was a lack of mendacity and meretricious, disingenuous hypocrisy that the media and electorate were looking for, Ron Paul would be surging! And from beyond, we sense Frank’s upset as he croons:

 

He was married and so was she

In a house of sticks that he was made to flee

She wore black and he wore white

Though she might win this fight

 

So what, she shot him down

So what, they were blank rounds

Bang bang, the media rang

Bang bang, the socar hillbillies sang

So what, his baby shot him down … with blanks!

 

My Baby Shot Me Down

 

Writer: BONO, SONNY / REYES, SENEN / FREESE, LOUIS / FERM, DEMERICK SHELTON  Recorded: Frank Sinatra ‘She Shot Me Down’ 1981

(Actual lyrics in pertinent part)


I was five and she was six
We rode on horses made of sticks
I wore black and she wore white
She would always win the fight

Bang bang, she shot me down
Bang bang, I hit the ground
Bang bang, that awful sound
Bang bang, my baby shot me down …


Petri: Grandiose Gingrich overruns awful Romney  Rubin: In debate, Gingrich meets his match (Washington Post) [ ‘Same Debate: Two views, the news, two different views’. The gamut … from ‘bull run to ‘bull s***’ they did diverge. Frank’s displeased with this lack of clarity so from beyond he adds his soothing sound … for clarity of course! :

 

"Tea for Two" (recorded 1947 Frank Sinatra / Dinah Shore) (Music/Youmans Lyrics/Caesar)

 

We’re discontented with candidates that are rented

With grand promises that they’ve invented

 

America’s now a place that’s no oasis

Where life’s weary chase is always in crisis

 

Far from the cries of crime victims in the city,

Where flowers pretty caress the streams

 

Sarcozy to hide in, and war monger side-by-side in

Don’t let lobotomy joe bidin your dreams.

 

Slimy newt flat on his high knee, more war plans from Romney,

Chinese tea for two, and two for Chinese tea,

 

Me for who and you show me, al one!

 


{actual song in pertinent part}

I'm discontented with homes that are rented
So I have invented my own.

Darling this place is a lover's oasis where life's
weary chase is unknown.

Far from the cry of the city, where flowers pretty
caress the streams.

Cozy to hide in, to love side-by-side in.
Don't let it abide in my dreams.

Picture you upon my knee, just tea for two and two for tea,
Just me for you and you for me, alone! …’

 

The two faces of Newt Gingrich With few campaign advisers to keep him on track, the candidate is showing his nasty side. (Washington Post) [ Yes indeed, we see ‘both sides now’ of ‘nasty newt’; as ominously warned by the sound from beyond of none other but Frank { Performed by

Frank Sinatra 1968, Written by Joni Mitchell First release Both Sides Now by Judy Collins on audio album Wildflowers (November 1967) }

Rows and flows of newt’s white hair
And icy screams from bombs in the air
And unfettered cannons ev'rywhere
I've looked at mushroom clouds that way …

 

 

Drudgereport: AP: ABC TO AIR THURSDAY NIGHT...
GINGRICH DAUGHTERS: 'The failure of a marriage is terrible and emotional experience'...

Erik Wemple : Chris Matthews alleges Gingrichian racial snarkiness (Washington Post) [ Snarky, indeed! He’s so snarky, that slimy newt. Once again snooty newty has raised the ire of Frank from beyond as Frank feels compelled to chime in on behalf of his shadow, also known as ‘sammy’, as in sammy davis, jr., who is also a spook; you know a ghost. And no, sammy was not one of the spooks at the cia who are a bunch of spooks, and so indirectly Frank’s chimin’ in on the cia’s behalf as well. Sing it Frank (with your shadow, sammy):

(Actual Song - Duet - Artist: Frank Sinatra & Sammy Davis Jr   Song: Me and My Shadow    Date recorded: 1962)

Me and My Shadow

 

snooty newty and his shadow

Strolling down pennsylvania avenue
snarky newty and his shadow

That’s a dream that won’t come true

snooty newty and his shadow

All alone and feeling black and blue

‘cause snooty newty and his shadow
just got mugged in front of wobama’s temp house too

 

 

ComPost : The stupidest attack on Romney yet  (Washington Post) Mais oui, il est tres stupide, que triton visqueux (But yes, he is very stupid, that slimy newt). I personally took (the mandatory foreign language grade 7-10) French and even brushed up here in LA while contemplating a move to Geneva, Switzerland, Europe, which of course has obviously changed along with EU prospects, the EU having so foolishly gone along to get along with the now fallen american way (I’m really not good with languages, being ‘hard-wired’ with my initial language, ie., my facebook response to query, ‘I took French; but I have no facility with languages (including computer programming languages) other than what I initially learned and some code (html, etc.). I think I should invest in one of those electronic translators.’). Even Frank’s  angrily chiming in with his displeasure with snooty newty from beyond :

I Love Paris  (Writer(s): Cole Porter) (Recorded 1959, 1960 Frank Sinatra)

 

I love Paris in the spring time
No room for newt on the ballot in the fall
I love seeing newt splinter this winter when he fizzles
I love seeing newt the bummer in summer when it sizzles

 

Newty seems dumber,

Really don’t have to wait for summer,
to see that bummer newty fall

 

 

Ron Paul’s achievement After a quarter-century in the wilderness, he’s within reach of putting his cause on the map. (Washington Post) [ At first blush, I thought by this headline this article to be Mr. Krauthammer’s vailed attempt at sarcasm. After all, as a jewish man himself, I’ve yet to see him take a position that could in any way be even remotely antithetical to israeli interests; and yet, one would have to be blind and dumb not to to realize such zionist / pro-israeli policies as foolishly adopted by the u.s. have been unequivocally antithetical to american interests. The testament to the merger of contraindicated american ‘interests’ with selfishly construed israeli interests was that display of wildly cheering israeli agents on the banks of the palisades in Weehawken, n.j. at the sight of the burning / exploding / symmetrically imploding trade towers (including bldg. 7) on 911 (contriving such a ‘pearl harbor event’ a neocon / military industrial complex / israeli wet dream come true. Later history might even write this as the ‘albatross incident’ for america). The great but substantially underrated President General Eisenhower warned of the military industrial complex whose interests and welfare programs have merged with those of the militant illegal-nuke totin’ israelis whose interests suddenly merged into puppet-in-chief wobama despite wobama’s campaign rhetoric to the contrary upon which he was elected. Parenthetically, President Eisenhower never took any crap from the terrorist begin / israelis in contravention of American interests in the region.  I truly don’t know what being a libertarian means; but I do know that a junkie/thief/methamphetamine addict from virginia who stole some (very valuable to me) items from me here in Socal had a father who was one and he professed being one of sorts himself though questionable (ie., his ‘phony’ business card with an ‘in God we trust’ logo, etc.). The importance of Ron Paul is to point out the unsustainability of ‘same old / same old’ without reason, purpose, advantage to any but the very greedy short-sighted few, though substantially detrimental to the nation. After the cold war’s end, with peace dividend to grace clinton, the substantial achievement of Reagan / Gorbachev, if america had literally ‘done nothing’ rather than having embarked upon the ‘money-eating / war-profiteering’ adventurism along with ‘that engagement thing’ with communist china so hailed by former ambassador to china / cia man bush, no nation could have caught up to and passed america; some and then many have and are destined to do so (what the heck, decades at best anyway). The fed has failed all mandates for which it supposedly exists. They’ve literally helped consummate for the intended benefit of the few, frauds in the trillions, to the substantial detriment of the vast majority and the nation itself (among other culpable acts, ie., $4 trillion missing at the new york fed, over-printing of  the ever more worthless dollars, etc.). For the israeli lobby, reality is a frightful thing. For pervasively corrupt, defacto bankrupt america, reality is also a frightful thing. 

How will President George W. Bush personally make million$, if not billion$ from the War on Terror? The easy way.  He'll inherit it.

Meet the Carlyle Group

Former World Leaders and Washington Insiders Making Billions in the War on Terrorism

Bush       Baker   Carlucci    Darman   Major    Ramos

http://www.angelfire.com/indie/pearly/htmls/bush-carlyle.html   

 

 

. Barack Obama: The Naked Emperor Shocking but true revelations from David Icke|  infra ‘...Obama is just more of the same, a big smile with strings attached, and controlled completely by those that chose him, trained him, sold him and provided his record funding, kept his many skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to be with your Presidential camp, who is alleged to claim that someone claiming to represent me called asking for $100,000, to keep me from coming forward about our (Obama and I) November 1999 encounter of sex and cocaine use?), ... Obama is just another Banksters' moll prostituting himself .., and that's why he supported the grotesque bail-out of the banking system and why he will always put their interests before the people. His financial advisors are straight from the Wall Street 'A' list, including Paul Adolph Volker (Trilateral Commission, Council on Foreign Relations, Bilderberg Group), the head of the Federal Reserve from 1979 to 1987 and Illuminati to his fingertips. Obama has made him head of the Economic Recovery Advisory Board, which is dominated by insiders, including its staff director and chief economist, Austan Goolsbee, a close Obama associate from the University of Chicago. Goolsbee is an initiate of the infamous Illuminati Skull and Bones Society at Yale University, which also includes Boy and Father Bush. It was Goolsbee who told the Canadian government not to worry about Obama's attacks on the economic effects of free trade agreements because his words were just to win votes in the election campaign. Another Wall Street insider, the Zionist Timothy Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign Relations), was appointed by Obama to be his Treasury Secretary. Geithner was the President of the New York Federal Reserve Bank, the most powerful in the private Federal Reserve cartel that masquerades as America's central bank, and he is a former employee of both the Council on Foreign Relations and the appalling Kissinger Associates. Obama's Treasury team locks into the inner circle around the Zionist Robert Rubin, the Director and Senior Counselor of Citigroup, co-chairman of the Council on Foreign Relations, and economic advisor to Obama. Rubin, a member of the Illuminati Bilderberg Group, was the man behind Citigroup's strategy of expanding its risk in debt markets which forced it to be rescued by taxpayers' money. The very people who caused the financial crisis are being appointed by Obama to decide how to respond to it (more taxpayers' money for them and their friends)’

 

Romney’s money problem His nomination may be near, but his routine is getting a bit rich. (Washington Post) [ Yet another of those ‘aw come on wobama lover Mr. Milbank moments’. I mean really. Wobama’s are as ‘rich’, and disingenuous at best to say otherwise, and his routine, namely b***s***, is past ‘getting old’. After all, wobama can’t run on his clear record of failure as bush failure 3 with what turns out as before, b***s*** alone. The problem is that there’s nothing that can be said of the republican offerings (except Ron Paul) for which it can’t be said of wobama that he’s 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 staff’s 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...  . Obama missing the mark on defense? President Obama’s defense strategy — and the assumptions underlying it — need a closer look. (Washington Post) [ I really don’t know what the editorial board really is; but that’s the only reason I’m commenting here (on this one) given their most recent, shocking ‘contributions’ to the discourse. First, let’s begin with a  fundamental reality; viz., america is hopelessly and insurmountably defacto bankrupt (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   ‘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…). Second, I’d 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 nation’s debt. What need’s 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 doesn’t matter so much what they say, as it does what they do. A glaring example is the ‘war on drugs’ given america’s unequivocal involvement in same (infra). As for wobama missing the mark on defense, there isn’t anything whatsoever that wobama hasn’t 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 Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv ,    Role as political insider in Washington made Rick Santorum a millionaireAfter losing reelection bid in 2006, he capitalized on experience with a profitable career on K Street. (Washington Post) [ As such, the same salvos levied against slimy newt are aposite here and reiterated. Yet, I’m still non-plused by santorum equating same-sex marriage (as a heterosexual myself I can’t say that I’m wild about that idea) with polygamy (truth be told it could be easy for me to picture being wild about that idea). I haven’t yet looked closely at santorum, candidly speaking; and, know him only by his contraindicated and preposterous ‘soundbites’ in defense of nation-bankrupting neo-con geopolitics (wars) and have previously referred to him as a ‘lightweight’ thereby.

Rubin: Gingrich out for revenge (Washington Post) [ Yes, newt … revenge is sweet and so are you … Your reward: a message and a song to sing as you pine away about what was your day … Sweet slimy newt, once again from beyond, Frank’s got just the sultry sound to soothe your vengeful, restless spirit, so sing it snooty newty (but stay away from any new booty) :

FRANK SINATRA LYRICS: " I WANNA BE AROUND "
(J. Mercer, S. Vimmerstadt)
[Recorded June 9, 1964, Los Angeles]
I wanna be around to pick up the pieces when somebody breaks your heart,
Somebody twice as smart as I.
Somebody who will swear to be true like you used to do with me,
Who'll leave you to learn that misery loves company, wait and see.
I wanna be around to see how he does it when he breaks your heart to bits,
Let's see if the puzzle fits, so fine,
And that's when I'll discover that revenge is sweet,
As I sit there applauding from a front row seat,
When somebody breaks your heart like you broke mine.
That's when I'll discover that revenge is sweet,
As I sit there applauding from a front row seat,
When somebody breaks your heart like you broke mine,
Like you, like you broke mine.

Call him irresponsible - call him unreliable
Throw in undependable too
Do his foolish alibis bore you
Well he’s not too clever – he just adores trumpish people we should boo

Call him unpredictable - tell him he’s impractical
Pots of gold at ends of rainbows he’s inclined to pursue
Call him irresponsible - yes newt’s unreliable
But it's undeniably true – newt’s irresponsibly mad for madman trump et als too

 

Financial Troubles For Many Nations In The New Year Bob Chapman | 2012 is going to be quite a year with falling economies in the UK, Europe, the US, China, Japan and the remainder of Asia. Ron Paul’s poll numbers are up in Iowa (Washington Post) [ As indeed they should be if people are truthful about wanting real change for the better. Historical headwinds Gingrich, Romney and Paul against the odds. (Washington Post) [ This is without doubt the most disappointing article by an otherwise invariably clear thinking Mr. Will. I’m glad for his disclosure (the Perry link) inasmuch as at least there is the possibility of a modicum of reason behind what otherwise would constitute a total ‘lack of reason’. Mr. Will sets forth some interesting tidbits of a category of sorts of history as if prepping for a round of Jeopardy, so obscure as they are. Relevance to today, that is also as obscure. If Mr. Will, of all people, cannot discern the difference today, from the america of yesterday, one does have to wonder who can. Yet, I do believe the vast majority in america do in fact discern such a difference. Why? Because the magnitude of that reality (of difference) is so great that one would have to be literally brain-dead to not discern it. Pervasively corrupt and quite literally defacto bankrupt, america’s at the cusp of a complete collapse in every way a nation could collapse; viz., financially, economically, politically, geopolitically, and legally. Indeed, so stark are these realities despite organized obfuscation, the same direction / status quo is blatantly untenable to even the most stalwart of ‘stay the course types’. Other than the black vote (roughly 18% according to’the first black president, clinton’) and the relatively few remaining wobama loyalists, I do believe, though belated, it’s human nature for that clear majority to opt for the chance of survival (of a nation) rather than the already worn path of decline as tread by wobama. Then comes the distinction between the failed president wobama and the alternative; Ron Paul being the ‘man, with a plan, that’s not already been ran’. New direction, change is sorely needed; which wobama promised, but never delivered, jive-talking con-man that he is. 

George H.W. Bush said to support Romney (Washington Post) [“I think Romney is the best choice for us,” said poppy bush. Exactly! Though surprisingly candid given his oft shady rhetoric; from read his lips ‘no new taxes’ to ‘he’s thinking anew’, words he ascribed to Lincoln; he really means this ‘us’ thing; not u.s. mind you; but literally us as in the untalented (war) criminal bush clan that spawned two failed presidents and have rested hopes for a third (jebby the judas – or at least a still viable political ‘leeching of america’ position – same for his lying -9/11- buddy tom kean’s son) in the ever increasingly desperate romney. So poor a job did poppy do, he, like ‘wobama the b for b***s***, was a ‘one-termer’ (even bush failure 2 who ranks among the worst presidents in american history, just a notch above wobama –the worst-, got two terms – people were still buying into their self-created ‘national emergency mode’ war propaganda). Then there’s his familial historical ties to fraudulent wall street as well as even hitler et als. But then there’s the military industrial complex so warned against by the great but underrated President General Eisenhower that stands to gain by the bush league approach and certainly romney’s bellicose rhetoric was made to order to accommodate such fleecing enterprises with wars / conflicts made real thereby. ‘Best choice’ … For whom should be the proper query? There’s the cia (and their illegal drug business and bigger off the grid budgets http://albertpeia.com/CIAAgentAffidavit1.jpg   ), the communist chinese (that engagement thing as former ambassador that’s worked out so marvelously for america while make ‘those few’ very wealthy), the Carlisle Group, etc.. Then there’s aipac, israel, zionist jews, neo-cons, mental-cases like cheney, bolton, etc., and in the case of aipac have been showing their love … not for americans/america, but for ie., romney and themselves… With rise, Ron Paul could be spoiler in GOP presidential race — or kingmaker As the first votes approach in Iowa, the congressman is a serious force with the potential to upend fight. (Washington Post) [ Spoiler? Kingmaker? How ‘bout ‘the candidate’! If there’s one thing far more scrutinizing eyes than those of the so-called mainstream are apt to point out (ie., Tyler Durden, Jones, Watson, etc.), it’s that the nation hasn’t fared so well with the so-called ‘establishment / mainstream candidates / favorites’. In fact, as we all know, the substantially compromised mainstream candidates with substantially compromised mainstream positions have proven to be downright disastrous for the nation, the people, and the world generally. The time has come in light of realities to say, borrowing the words from Robert Kennedy … Why not? There is no rational argument that militates against a Ron Paul who calls things as they are. After all, whether people like to admit it or not, the fed (like wobama the b for b***s***) has failed virtually all of their mandates. Moreover, the bernanke fed’s policies have helped the frauds / perps (biggest still unprosecuted) on wall street to the detriment of literally everyone else. The same is true of the military industrial complex war-welfare plans as warned against by the great but substantially underrated President General Eisenhower in terms of the few they so favored at everyone else’s expense. The examples go on and on and are too numerous to list. Rogers: Paul is short on appeal (Washington Post) [ Yeah … he ain’t pretty … but this ain’t a beauty contest … Moreover, what has appeal gotten the nation? … where has appeal gotten the nation to? … 4 years of wobama’s ‘appeal’ aka b***s*** has left the nation in the toilet at best, cesspool at worst; and, in large part owing to the glaring fact that if ‘wobama the b for b***s***’ had done what he said he’d do and didn’t, the nation prospects, though still ominous, would have been substantially enhanced. For all but Paul, it’s the failed ‘same old, same old’ which is, as per paraphrasing Einstein, neither a plan, nor strategy, but rather insanity. Gingrich’s time of testingTHE TAKE | Can Gingrich survive rivals’ attacks, build a campaign that sustains his candidacy? (Washington Post) [ ‘Time of testing’? Oh, but he has been tested … scandal-scarred like no other, he has been found wanting … too much … not for the nation, but himself … he’s already failed any and all tests.  Newspaper Chaired By Private Equity Head Shockingly Endorses Mitt Romney For President; Ron Paul On Jay Leno   A few hours ago the Des Moines Register threw its support behind the Bain Capital founder, and the man now known to have actively destroyed any trace of his public "service" before his 2007 Massachusettes office handover (with a pending response to a Reuters FOIA, which will disclose just what it was that Romney was so tenuously shredding). Because according to the Iowan newspaper, Mitt Romney "is the best to lead" America, although into what, is not quite clear - perhaps the biggest Fed funded LBO (with a Bain Capital $1 mezz piece) of all time, that of America? We don't know. And neither does the Register's editorial board. What they do know are hollow adjectives, such as "sobriety", "wisdom" and "judgment" which somehow are applicable to Romney, if not so much "betting" and "shredding." Those looking for a late night laugh can read the OpEd below (link to tomorrow's front page here). And ironically, while likely set to provide a very short-term boost to Romney's chances, it is the baseless ongoing accusations against Ron Paul that will likely solidify the groundswell behind the Texan, with such desperate platitudes as "Ron Paul's libertarian ideology would lead to economic chaos and isolationism, neither of which this nation can afford." Because what America certainly needs is more of that old ideology of doing everything just the same and hoping for the best, because if there is anything Romney's would be predecessors have taught us is that hope apparently is a credible strategy. But perhaps most relevant is the reminder that the Des Moines Register is a Gannett company whose Chairman just happens to be one Marjorie Magner, whose bio reads: 'Ms. Magner, 61, is Managing Partner of Brysam Global Partners, a private equity firm investing in financial services firms with a focus on consumer opportunities in emerging markets founded in January 2007. She was Chairman and CEO of Citigroup's Global Consumer Group from 2003 to 2005. She served in various roles at Citigroup, and a predecessor company, CitiFinancial (previously Commercial Credit), since 1987. Ms. Magner currently serves as a director of Accenture Ltd. and Ally Financial Inc. and served as a director of The Charles Schwab Corporation from February 2006 to May 2008. Ms. Magner has broad business experience and financial expertise from the various senior management roles she held with Citigroup." (that Romney felt the need to ‘kiss the ring’ of failed president poppy bush says a lot about ‘regressive political persuasion’

 

In N.H., Romney steps up attacks on Gingrich(Washington Post) [ Yeah … he’d better get going, ratchet up the rhetoric; after all, slimy newt’s just gotten the endorsement of ‘celebrity mobster madman’s (trump’s) apprentice’, ‘gary the b’ (for berserk) busey (most notable for his role in the film ‘Tomcats’ as the guy with only half a pair of b**ls!) (Drudgereport: Gary Busey Endorses Gingrich... ). Five myths about Ron Paul  (WP) [ For me, the litmus test for any candidate, though somewhat personalized, is generally applicable to the entire national electorate. It falls within that very broad category; viz., ‘been there, done that’. It is no mystery that the current wobama regime, et als are trying in every which way to censor, obstruct, and otherwise control the free-flow of information, particularly now the internet, which really works against failed administrations as that currently in place. By every measure you can gauge the success or failure of a presidency, wobama the b for b***s*** is an abject failure. There is not one reason based upon what he said he would do last time around, didn’t do, but as we now know had he done as he said the nation would have clearly been better off this day. He basically continued the policies of the prior failed presidency of war criminal dumbya bush, including the same or similarly connected players, despite having campaigned vociferously condemning same  (CIA lawyer says Obama administration backed and continued virtually all Bush-era programs Natural News ). Clinton was the luckiest of all recent presidents in having the benefit of the peace dividend to smooth things over, by way of the one and only but very significant accomplishment of Reagan / Gorbachev; yet, he found ways through deep-seated mental issues to fail, which we all endured as if watching a soap opera unfold. Incompetent george h.w. bush (‘poppy’) was basically the ‘cia in disguise’ which kept up the ops which included that snookering of then american proxy, sadam hussein, by u.s. ambassador april glaspie (see more here infra) (george h.w.bush was also ambassador to communist china and we all know how that’s turned out for america; but, ‘they’ and ‘theirs’ have made a bundle.. poppy and clinton were tied by ‘virtue’ of their cia / Mena, Arkansas cocaine drop / connection [ for me that connection was devastating to my RICO case which involved the laundering of drug money through the trump casinos in atlantic city,n.j., and poppy is after all, war criminal dumbya bush’s father ( see ie., http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm     , and, america also leads in the illegal drug trade, infra ) . .. calls for impeachment ..‘fast and furious debacle’.  Despite campaign promises, there have been no high level prosecutions of the wall street frauds which are still extant in the trillions. That ‘8%’ unemployment; don’t completely dismiss same as they may just have enough of their stand-ins to work exactly 1 day to be counted;that’s at best... as they’ve done, manipulate/fudge/outright lie about the numbers (actual unemployment is beyond 15%). Gingrich actually carved out exceptions for fraudulent wall street to the applicability of the RICO Act to their frauds, among many other unscrupulous acts which will emerge; along with having sought the endorsement of mobster, mental case trump.. romney follows suit with a trip to kiss the ring of failed president poppy bush while cow-towing as all but Paul to the israeli lobby. So I, as should be so for the entire nation, say results count. (For me, it’s resolution of those corrupted RICO matters). Reality counts. What’s gone before has failed;new direction, policies are required. After all, Einstein did say, paraphrasing, ‘doing the same thing over and over again and expecting a different result’ is insanity. Ron Paul’s still standing!

 

America’s shine is wearing off I know why we are falling into a cataclysm of debt and can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious freedom, freedom generally did they come to these shores. A rare exception to the influx of immigrants to this young nation who turned out to be more a virus to the indigenous peoples of this land than what could have been expected from those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those so positioned abroad would have represented a positive addition to the gene pool which, borrowing from an insurance term, viz., adverse selection, springs forth the notion of inevitability to the genocide of the indigenous populations while guaranteeing the decline we see throughout this foundering nation. The effects of these negative predispositions toward inherent criminality is certainly being felt globally as well as domestically and has little to recommend it. My own direct experience with the region(s) (particularly new jersey, new york, virginia, connecticut, california) carves out no exception for the prevalence of the worst of human nature; which is now collectively and pervasively americana.  Though having but 5% of the world’s population, the u.s. has 76% of the world’s serial killers,          http://www.albertpeia.com/realifeamericaserialkillers.mpg     bankrupt america also spends more on military than all the nations of the world combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are included in this evolved american trait of inherent criminality  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 

 

 

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!


 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

 

 

 

 

GOOGLE SEARCH – ‘LARRY KLAYMAN, LOUIS FREEH CORRUPT’

ABOUT 6,240 RESULTS (0.11 SECONDS)

·  Trulock Sues FBI Director Freeh

archive.newsmax.com/articles/?a=2000/7/30/211047

Jul 31, 2000 – Judicial Watch is a public-interest law firm that fights corruption in government. To read Larry Klayman's letter to Louis Freeh, ...

·  Judicial Watch - Because no one is above the law!

www.judicialwatch.org/archive/newsletter/2003/0203b.shtml

... security," said JW Chairman Larry Klayman. "His behavior stands in stark contrast to Louis Freeh, a man so corrupt he destroyed the office he led, ...

·  Freedomwriter.com :: Headline News :: - America - JUDICIAL ...

www.freedomwriter.com/issue20/am15.htm

Louis Freeh will finally have to answer in court for what he did to our clients. ... answers,” stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  Infowars.com -- Talk Radio's Alex Jones v. the New World Order

www.infowars.com/jw_transcript.htm

Klayman, Larry, Chairman, Judicial Watch ... My name is Larry Klayman. ... interest group that investigates and prosecutes government corruption and abuse. ...... They seized his computer – these are FBI agents at the direction of Louis Freeh, ...

·  JUDICIAL WATCH REJOICES AT RESIGNATION OF FBI DIRECTOR LOUIS FREEH

www.judicialwatch.org/archive/2001/printer_921.shtml

May 3, 2001 – Because of his corrupt behavior, Freeh was placed on Judicial Watch's ... stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  The hazing of Judge Lamberth

www.wnd.com/index.php?pageId=5374

May 27, 2000 – By Larry Klayman ... While Judicial Watch has asked FBI Director Louis Freeh to .... lawsuits against a corrupt and unrepentant Clinton-Gore ...

·  Trulock, Conrad v. Freeh, et al, Employees of FBI

cryptome.org/trulock-v-fbi.htm

LOUIS J. FREEH, in his personal capacity; NEIL GALLAGHER, in his No. ... COUNSEL ARGUED: Larry E. Klayman, JUDICIAL WATCH, INC., Washing- ton, D.C. ...

 

 

America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA   ,  http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related  ,  http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related  ,  http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related  ,  http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related  ] , colluding with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html   ] to control the industry, and now openly protects and transports opium from Afghanistan  [  http://www.youtube.com/watch?v=ElEciFI0Pew  ] .  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [  http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world  ]  ; up 61% compared to 2010 to a whopping 5800 tons.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever. [ website archived links http://albertpeia.com/uscocainedistributionfiles.htm 

 

 

Iraq

from the book

The CIAs Greatest Hits

by Mark Zepezauer

 

‘The Gulf War of early 1991 didn't change much. Our old buddy, the despotic Emir of Kuwait, is back on his throne. Our former buddy, Saddam Hussein, while knocked down a peg or two, is still in power and as brutal as ever. Hundreds of thousands of Iraqis are dead, hundreds of US veterans are suffering from a mysterious disease, and the Persian Gulf has been ravaged by the largest oil spill in history. The question naturally arises, could any of this have been avoided?

The whole dispute started because Kuwait was slant-drilling. Using equipment bought from National Security Council chief Brent Scowcroft's old company, Kuwait was pumping out some $14-billion worth of oil from underneath Iraqi territory. Even the territory they were drilling from had originally been Iraq's. Slant-drilling is enough to get you shot in Texas, and it's certainly enough to start a war in the Mideast.

Even so, this dispute could have been negotiated. But it's hard to avoid a war when what you're actually doing is trying to provoke a war.

The most famous example of that is the meeting between Saddam and the US Ambassador to Iraq, April Glaspie, five days before Iraq invaded Kuwait. As CIA satellite photos showed an Iraqi invasion force massing on the Kuwaiti border, Glaspie told Hussein that "the US takes no position" on Iraq's dispute with Kuwait.

A few days later, during last-minute negotiations, Kuwait's foreign minister said: "We are not going to respond to [Iraq]....If they don't like it, let them occupy our territory....We are going to bring in the Americans." The US reportedly encouraged Kuwait's attitude.

Pitting the two countries against each other was nothing new. Back in 1989, CIA Director William Webster advised Kuwait's security chief to "take advantage of the deteriorating economic situation in Iraq to put pressure on Iraq.'' At the same time, a CIA-linked think tank was advising Saddam to put pressure on the Kuwaitis.

A month earlier, the Bush administration issued a secret directive that called for greater economic cooperation with Iraq. This ultimately resulted in billions of dollars of illegal arms sales to Saddam.

The Gulf War further destabilized the region and made Kuwait more dependent on us. US oil companies can now exert more control over oil prices (and thus boost their profits). The US military got an excuse to build more bases in the region (which Saudi Arabia, for one, didn't want) and the war also helped justify the "need" to continue exorbitant levels of military spending. Finally, it sent a message to Third World leaders about what they could expect if they dared to step out of line.’

 

 

 

http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  

http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm

 

 

Responding to your message

FROM:

·         Rep. Lucille Roybal-Allard  

TO:

·         [email protected]

Message flagged

Wednesday, November 16, 2011 8:48 AM

 

 

Dear Mr. Peia:

 

Thank you for being in touch.  As we continue the busy first session of the 112th Congress, I want you to know that I am grateful for the various times you have shared your thoughts and concerns with me on different issues.  Please be assured that your voice is being heard and that your perspective helps me to better represent you in Washington, D.C. 

 


Sincerely,

LUCILLE ROYBAL-ALLARD
Member of Congress

 

 

[ This is a reply to the Congresswoman’s query among others included.]

 

 

11-5-11

 

 

Dear Congresswoman Roybal-Allard:

The Keynesian (economic) approach, if ever a wise prescription for ‘economic doldrums’, euphemistically speaking (there are articles/studies/data that dispute the purported effectiveness of the widely hailed ‘Keynesian remedy’ during the prior great depression), the ‘Keynesian way’ is certainly no longer a prudent approach today in light of the insurmountable debt levels of nations worldwide and in america particularly along with the concomitant over-printed, debased ‘paper currencies’ to finance same. Quite simply, there simply is not enough real value being created for redistribution, a situation exacerbated by the parasitic lightening fast, computerized churn and earn high frequency trading programs on fraudulent wall street (they should be prosecuted, jailed, fined, and disgorgement imposed for extant frauds in the trillions now marked to anything as per misguided legislated FASB rule change). [ America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke …The government’s total indebtedness is $211 trillion’.  43,454,601,693,238 Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock  Zero Hedge October 17, 2011 http://www.economist.com/content/global_debt_clock ] .This is the consequence of a structural shift fed by greed and misguided policy and cannot be undone (transfer of productive capacity to ie., China, etc., ‘the bell cannot be unrung’). That said which militates against such an extension, this is an election year which probabilities suggest makes highly likely the passage of the extension. I favor your co-sponsored legislation and before the holidays simply in the name and spirit of Christmas and for no other reason whatsoever. Below is a recent comment to Opinion Writer Krauthammer’s ‘more war spending (Keynesian) position’ and an article regarding the folly of same. Immediately following is from my prior post to you concerning something of such manageable proportion and well within the government’s ability to resolve (if the government can’t accomplish this consistent with law and long overdue, then there isn’t anything the government can accomplish), along with other comments to you for ease of reference:

 

‘…As previously noted in a prior message to you, I had previously spoken to FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and who was to be out of the office for the two weeks past. I’ll be contacting him given a reasonable time for him to ‘catch up’, from being out of the office. While independent contractor richard coan is ultimately the one to bear the burden of damages (there’s insurance and a surety covering same), coan might allude to the prior default of the u.s. government (assist. u.s. atty. robert i. lester miscounted / miscalculated the time for filing an answer / response to the complaint upon service thereof, also misstating the rule in open court before corrupt judge matz who ‘schmoozed’ things over (they both have the same employer), however incorrectly according to the ‘law’. I ordered / bought a copy of the transcript of that rather pathetic proceeding (posted in part on my website). In any event, regardless who pays me, the amounts so paid would ultimately be recovered from coan, his insurer/surety which amounts might even exceed the amount I’m willing to settle at. [There is also a judgment (referenced in the correspondence to FBI ADIC Martinez infra) that had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which would benefit Los Angeles, etc.; and then, of course as well, the substantial damages. ] I’ve waited far too long for this matter to resolve, what should have been resolved in accordance with clear law long ago;  and, which would have been resolved if not for typical u.s. corruption in the process; and, which is well within the government’s ability to resolve. In my world and way of thinking, results do count! I’ve included prior correspondence for ease of reference…’

 

 

 

Sincerely,

 

Albert L. Peia

 

 

 

 

Nobel Prize-Winning Economist: War Is Widely Thought To Be Linked To Economic Good Times NONSENSE Washingtons Blog | Contrary to a Common Myth, War is Bad for the Economy Washingtons Blog
November 1, 2011

‘Contrary to a Common Myth, War is Bad for the Economy

Nobel prize winning economist Paul Krugman wrote yesterday:

Military spending does create jobs when the economy is depressed. Indeed, much of the evidence that Keynesian economics works comes from tracking the effects of past military buildups.

(Mr. Krugman has said the same thing many times in the past. And many other influential people havesaid the same thing.)

I am not a Nobel prize winning economist but Joseph Stiglitz is.

Stiglitz wrote in 2003:

War is widely thought to be linked to economic good times. The second world war is often said to have brought the world out of depression, and war has since enhanced its reputation as a spur to economic growth. Some even suggest that capitalism needs wars, that without them, recession would always lurk on the horizon.

Today, we know that this is nonsense. The 1990s boom showed that peace is economically far better than war. The Gulf war of 1991 demonstrated that wars can actually be bad for an economy.

Stiglitz has also said that this decades Iraq war has been very bad for the economy. See thisthis andthis.

A No-Brainer

This is a no-brainer, if you think about it.

Weve been in Afghanistan for almost twice as long as World War II. Weve been in Iraq for years longer than WWII. Weve been involved in 7 or 8 wars in the last decade. And yet still in a depression. (And see this).

If wars really helped the economy, dont you think things would have improved by now?

Indeed, the Iraq war alone could end up costing more than World War II. And given the other wars weve been involved in this decade, I believe that the total price tag for the so-called War on Terror will definitely support that of the Greatest War.

Additional Reasons War Is Bad for the Economy

The New Republic noted in 2009:

Conservative Harvard economist Robert Barro has argued that increased military spending during WWII actually depressed other parts of the economy.

Also from the right, Robert Higgs has done good work showing that military spendingwasnt the primary source of the recovery and that GDP growth during WWII has been greatly exaggerated.

And from the left, Larry Summers and Brad Delong argued back in 1988 that five-sixths of the decline in output relative to the trend that occurred during the Depression had been made up before 1942.

Economist James Galbraith has shown that war always causes inflation, which hurts the average American:

Inflation applies the law of the jungle to war finance. Prices and profits rise, wages and their purchasing power fall. Thugs, profiteers and the well connected get rich. Working people and the poor make out as they can. Savings erode, through the unseen mechanism of the inflation tax meaning that the government runs a big deficit in nominal terms, but a smaller one when inflation is factored in.

(Ben Bernanke says that inflation is a tax, and Dylan Grice notes that inflation causes societies to prosecute minorities.   And sorry but we cant inflate our way out of our debt trap.)

As I noted last year:

All of the spending on unnecessary wars adds up.

The U.S. is adding trillions to its debt burden to finance its multiple wars in Iraq, Afghanistan, Yemen, etc.

Two top American economists Carmen Reinhart and Kenneth Rogoff show that the more indebted a country is, with a government debt/GDP ratio of 0.9, and external debt/GDP of 0.6 being critical thresholds, the more GDP growth drops materially.

Specifically, Reinhart and Rogoff write:

The relationship between government debt and real GDP growth is weak for debt/GDP ratios below a threshold of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. We find that the threshold for public debt is similar in advanced and emerging economies

Indeed, it should be obvious to anyone who looks at the issue that deficits do matter.

A PhD economist [Michel Chossudovsky] told me:

War always causes recession. Well, if it is a very short war, then it may stimulate the economy in the short-run. But if there is not a quick victory and it drags on, then wars always put the nation waging war into a recession and hurt its economy.

You know about Americas unemployment problem. You may have even heard that the U.S. may very well have suffered a permanent destruction of jobs.

But did you know that the defense employment sector is booming?

As I pointed out in August, public sector spending and mainly defense spending has accounted for virtually all of the new job creation in the past 10 years:

The U.S. has largely been financing job creation for ten years. Specifically, as the chief economist for BusinessWeek, Michael Mandel, points out, public spending has accounted for virtually all new job creation in the past 10 years:

Private sector job growth was almost non-existent over the past ten years. Take a look at this horrifying chart:

http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs1.gif

Between May 1999 and May 2009, employment in the private sector sector only rose by 1.1%, by far the lowest 10-year increase in the post-depression period.

Its impossible to overstate how bad this is. Basically speaking, the private sector job machine has almost completely stalled over the past ten years. Take a look at this chart:

http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs2.gif

Over the past 10 years, the private sector has generated roughly 1.1 million additional jobs, or about 100K per year. The public sector created about 2.4 million jobs.

But even that gives the private sector too much credit. Remember that the private sector includes health care, social assistance, and education, all areas which receive a lot of government support.

***

Most of the industries which had positive job growth over the past ten years were in the HealthEdGov sector. In fact, financial job growth was nearly nonexistent once we take out the health insurers.

Let me finish with a final chart.

http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs4.gif

Without a decade of growing government support from rising health and education spending and soaring budget deficits, the labor market would have been flat on its back.

Indeed, Former Secretary of Labor Robert Reich lamented last year

Americas biggest and only major jobs program is the U.S. military.

Back to my essay:

Raw Story argues that the U.S. is building a largely military economy:

The use of the military-industrial complex as a quick, if dubious, way of jump-starting the economy is nothing new, but what is amazing is the divergence between the military economy and the civilian economy, as shown by this New York Times chart.

In the past nine years, non-industrial production in the US has declined by some 19 percent. It took about four years for manufacturing to return to levels seen before the 2001 recession and all those gains were wiped out in the current recession.

By contrast, military manufacturing is now 123 percent greater than it was in 2000 it has more than doubled while the rest of the manufacturing sector has been shrinking

Its important to note the trajectory the military economy is nearly three times as large, proportionally to the rest of the economy, as it was at the beginning of the Bush administration. And it is the only manufacturing sector showing any growth. Extrapolate that trend, and what do you get?

The change in leadership in Washington does not appear to be abating that trend[121]

So most of the job creation has been by the public sector. But because the job creation has been financed with loans from China and private banks, trillions in unnecessary interest charges have been incurred by the U.S.And this shows military versus non-military durable goods shipments:

http://marketoracle.co.uk/images/2010/Jan/us-collapse-18-11.gif

[Click here to view full image.]

So were running up our debt (which will eventually decrease economic growth), but the only jobs were creating are military and other public sector jobs.

PhD economist Dean Baker points out that Americas massive military spending on unnecessary and unpopular wars lowers economic growth and increasesunemployment:

Defense spending means that the government is pulling away resources from the uses determined by the market and instead using them to buy weapons and supplies and to pay for soldiers and other military personnel. In standard economic models, defense spending is a direct drain on the economy, reducing efficiency, slowing growth and costing jobs.

A few years ago, the Center for Economic and Policy Research commissioned Global Insight, one of the leading economic modeling firms, to project the impact of a sustained increase in defense spending equal to 1.0 percentage point of GDP. This was roughly equal to the cost of the Iraq War.

Global Insights model projected that after 20 years the economy would be about 0.6 percentage points smaller as a result of the additional defense spending. Slower growth would imply a loss of almost 700,000 jobs compared to a situation in which defense spending had not been increased. Construction and manufacturing were especially big job losers in the projections, losing 210,000 and 90,000 jobs, respectively.

The scenario we asked Global Insight [recognized as the most consistentlyaccurate forecasting company in the world] to model turned out to have vastly underestimated the increase in defense spending associated with current policy. In the most recent quarter, defense spending was equal to 5.6 percent of GDP. By comparison, before the September 11th attacks, the Congressional Budget Office projected that defense spending in 2009 would be equal to just 2.4 percent of GDP. Our post-September 11th build-up was equal to 3.2 percentage points of GDP compared to the pre-attack baseline. This means that the Global Insight projections of job loss are far too low

The projected job loss from this increase in defense spending would be close to 2 million. In other words, the standard economic models that project job loss from efforts to stem global warming also project that the increase in defense spending since 2000 will cost the economy close to 2 million jobs in the long run.

The Political Economy Research Institute at the University of Massachusetts, Amherst has also shown that non-military spending creates more jobs than military spending.

So were running up our debt which will eventually decrease economic growth and creating many fewer jobs than if we spent the money on non-military purposes.

As I wrote last year:

It is ironic that Americas huge military spending is what made us an empire but our huge military is what is bankrupting us thus destroying our status as an empire.

Even Admiral Mullen seems to agree:

The Pentagon needs to cut back on spending.

Were going to have to do that if its going to survive at all, Mullen said, and do it in a way that is predictable.

Indeed, Mullen said:

For industry and adequate defense funding to survive the two must work together. Otherwise, he added, this wave of debt will carry over from year to year, and eventually, the defense budget will be cut just to facilitate the debt.

Former Secretary of Defense Robert Gates agrees as well. As David Ignatius wrote in the Washington Post in May:

After a decade of war and financial crisis, America has run up debts that pose a national security problem, not just an economic one.

***

One of the strongest voices arguing for fiscal responsibility as a national security issue has been Defense Secretary Bob Gates. He gave a landmark speech in Kansas on May 8, invoking President Dwight Eisenhowers warnings about the dangers of an imbalanced military-industrial state.

Eisenhower was wary of seeing his beloved republic turn into a muscle-bound, garrison state militarily strong, but economically stagnant and strategically insolvent, Gates said. He warned that America was in a parlous fiscal condition and that the gusher of military spending that followed Sept. 11, 2001, must be capped. We cant have a strong military if we have a weak economy, Gates told reporters who covered the Kansas speech.

On Thursday the defense secretary reiterated his pitch that Congress must stop shoveling money at the military, telling Pentagon reporters: The defense budget process should no longer be characterized by business as usual within this building or outside of it.

While some might want to start another war, Americas top military leaders and economists say that would be a very bad idea.

Indeed, military strategists have known for 2,500 years that prolonged wars are disastrous.

Note 1: Security experts conservative hawks and liberal doves alike agree that waging war in the Middle East weakens national security and increases terrorism. See thisthisthisthisthisthis and this.

Terrorism in turn terrorism is bad for the economy.  Specifically, a study by Harvard and the National Bureau of Economic Research (NBER) points out:

From an economic standpoint, terrorism has been described to have four main effects (see, e.g., US Congress, Joint Economic Committee, 2002). First, the capital stock (human and physical) of a country is reduced as a result of terrorist attacks. Second, the terrorist threat induces higher levels of uncertainty. Third, terrorism promotes increases in counter-terrorism expenditures, drawing resources from productive sectors for use in security. Fourth, terrorism is known to affect negatively specific industries such as tourism.

The Harvard/NBER concludes:

In accordance with the predictions of the model, higher levels of terrorist risks are associated with lower levels of net foreign direct investment positions, even after controlling for other types of country risks. On average, a standard deviation increase in the terrorist risk is associated with a fall in the net foreign direct investment position of about 5 percent of GDP.

So the more unnecessary wars American launches and the more innocent civilians we kill, the less foreign investment in America, the more destruction to our capital stock, the higher the level of uncertainty, the more counter-terrorism expenditures and the less expenditures in more productive sectors, and the greater the hit to tourism and some other industries.

Moreover:

Terrorism has contributed to a decline in the global economy (for example, European Commission, 2001).

So military adventurism increases terrorism which hurts the world economy. And see this.

Note 2: True conservatives are anti-war.’



http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  

 

 

Dear Congresswoman Roybal-Allard:

 

Thank you once again for the courtesy extended to me in apprising me of and seeking my input concerning the post office closings. Yet, as previously set forth in response to your query, I’m for any and all cuts in service / facilities of the usps in light of my experience with the usps including the unreliability of same. UPS is reliable and well managed and to see them takeover the usps would be a welcome development since the usps is unreliable and poorly managed as set forth previously, infra. I include previous responses for ease of reference. As previously noted in a prior message to you, I had previously spoken to FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and who was to be out of the office for the two weeks past. I’ll be contacting him given a reasonable time for him to ‘catch up’, from being out of the office. While independent contractor richard coan is ultimately the one to bear the burden of damages (there’s insurance and a surety covering same), coan might allude to the prior default of the u.s. government (assist. u.s. atty. robert i. lester miscounted / miscalculated the time for filing an answer / response to the complaint upon service thereof, also misstating the rule in open court before corrupt judge matz who ‘schmoozed’ things over (they both have the same employer), however incorrectly according to the ‘law’. I ordered / bought a copy of the transcript of that rather pathetic proceeding (posted in part on my website). In any event, regardless who pays me, the amounts so paid would ultimately be recovered from coan, his insurer/surety which amounts might even exceed the amount I’m willing to settle at. [There is also a judgment (referenced in the correspondence to FBI ADIC Martinez infra) that had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which would benefit Los Angeles, etc.; and then, of course as well, the substantial damages. ] I’ve waited far too long for this matter to resolve, what should have been resolved in accordance with clear law long ago;  and, which would have been resolved if not for typical u.s. corruption in the process; and, which is well within the government’s ability to resolve. In my world and way of thinking, results do count! I’ve included prior correspondence for ease of reference.

 

 

Thank You Again.

 

Sincerely,

 

Albert L. Peia

 

 

Post script: In pertinent part (correspondence to FBI ADIC Martinez )regarding two sets of disks waylaid by usps once with delivery confirmation priority mail, and the second priority certified mail: ‘ *The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ‘

 

 

 

10-13-11

 

Dear Congresswoman Roybal-Allard:

 

Thank you once again for thinking of me. That I like you should be obvious inasmuch as I would ignore you or would tell you so if I didn’t. I am totally apolitical as a matter of comity on facebook where while posting my website for exposure was ‘tagged’ by friends from high school I’ve known for in excess of 45 years; despite the fact that facebook (the company itself) appears to be politically ‘pro-wobama’. Youtube of nsa’s google fame censors and I don’t use youtube therefore. Yet, make no mistake; ultimately, for me, results count, even if they don’t in Washington and elsewhere throughout the nation, lamentably such as it is. As previously noted infra in a prior message to you, I had previously spoken to FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and who was to be out of the office for the two weeks past. I’ll be contacting him given a reasonable time for him to ‘catch up’, from being out of the office. While independent contractor richard coan is ultimately the one to bear the burden of damages (there’s insurance and a surety covering same), coan might allude to the prior default of the u.s. government (assist. u.s. atty. robert i. lester miscounted / miscalculated the time for filing an answer / response to the complaint upon service thereof, also misstating the rule in open court before corrupt judge matz who ‘schmoozed’ things over (they both have the same employer), however incorrectly according to the ‘law’. I ordered / bought a copy of the transcript of that rather pathetic proceeding (posted in part on my website). In any event, regardless who pays me, the amounts so paid would ultimately be recovered from coan, his insurer/surety which amounts might even exceed the amount I’m willing to settle at. I’ve waited far too long for this matter to resolve, what should have been resolved in accordance with clear law long ago;  and, which would have been resolved if not for typical u.s. corruption in the process; and, which is well within the government’s ability to resolve. In my world and way of thinking, results do count! I’ve included prior correspondence for ease of reference.

 

Sincerely,

 

Al Peia

 

 

 

9-29-11

Dear Congresswoman Roybal-Allard:

 

The following is my response to your email as well as previous responses, comments including my prior comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein and hereinafter:

 

What do you think of the American Jobs Act?

Hide Details

FROM:

TO:

·         [email protected]

Message flagged

Thursday, September 29, 2011 11:33 AM

 

 

Drudgereport: Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...
$200K Per Job? Geithner Says White House Plan Still Bargain … [ Riiiiight! .. In what alternate reality beyond political desperation mode? ] ...

 

Quite simply, at those prices, while somewhat short-term politically expedient, very uneconomic! Don’t forget: America's debt woe is worse than Greece's Sep 21st, 2011 News (CNN) - 'Our government is utterly broke. There are signs everywhere one looks…The government's total indebtedness - its fiscal gap - now stands at $211 trillion' 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse '. #8 The U.S. national debt continues to get worse by the day. Just check out what economics professor Laurence J. Kotlikoff recently told NPR .."If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That's the fiscal gap" ..' ! ]

 




Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.

Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ] New low of 26% approve of Obama on economy...
Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

 

Even that italian, belafonte, isn’t buying ‘wobama brand(ed)’:

 

Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 

 

 ------------

 

From: Rep. Lucille Roybal-Allard
To: [email protected]
Sent: Wednesday, September 28, 2011 11:01 AM
Subject: Responding to your message


Dear Mr. Peia:

Thank you for contacting me about the US Postal Service's (USPS) proposals to reduce costs in the face of ongoing budget deficits. I appreciate hearing your thoughts on this important issue…’

 

                  -----

 

Thank you very much for your response. This is an unattended mailbox. To send a reply to Congresswoman Roybal-Allard, please visit http://roybal-allard.house.gov/Contact/.

-----Original Message-----
From: "albert peia"
Sent: 9/28/2011 10:48:27 PM
To: "CA34HIMA"
Cc:
Subject: Re: Responding to your message

9-28-11

Dear Congresswoman Roybal-Allard:

It is always somewhat reassuring that someone, like yourself in Washington, is committed to finding solutions to the myriad of problems confronting the nation; some insurmountable [ America's debt woe is worse than Greece's Sep 21st, 2011 News (CNN) - 'Our government is utterly broke. There are signs everywhere one looks. The government's total indebtedness - its fiscal gap - now stands at $211 trillion' 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse '. #8 The U.S. national debt continues to get worse by the day. Just check out what economics professor Laurence J. Kotlikoff recently told NPR .."If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That's the fiscal gap" ..' ! , Soros: US Is Already in Double-Dip Recession CNBC.com , the unprosecuted frauds on wall street . Dave's Daily:'.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..' End of Quarter Price Mark-Ups; Dave's Daily http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-daily.html Dave Fry 9-27-11 'All you need do is view the last week of June 2011, the previous quarter end, and you'll note a similar quarter end jam-job.' , Roubini: U.S. in Throes of Economic Contraction Sep 27th, 2011 News (Bloomberg) , SHILLER: House Prices Probably Won't Hit Bottom For Years Sep 27th, 2011 News (BusinessInsider) , etc. ] , confronting the nation. Yet it's somewhat difficult to imagine that pension plans, particularly of the defined benefit variety as opposed to the more fiscally conservative defined contribution type, anywhere in america are over-funded in light of overly optimistic 'assumptions' for returns on said funds (ie., Drudgereport: STUDY: State, local gov'ts must raise taxes $1,400 a year for 30 years to fund pensions...
Chicago county faces $108 billion gap in pensions....
TREASURY RAIDS PENSIONS...
Treasury to tap pensions to fund government (Washington Post) ].

On September 22, 2011 I spoke with FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and with whom I had discussed the matters of which you are aware; and which matters are well within Washington's ability to easily resolve what should have been resolved in accordance with clear law quite some time ago. It is difficult to imagine the u.s. government solving the gargantuan, nation-destructive problems confronting the nation when through typical corruption, meaningful lawlessness, lack of will, etc., have chosen not to solve my matter as related to you in accordance with clear law and which would clearly be the right thing to do at long last.
Previously I wrote to thank you for thinking of me and for the courtesy extended. However, in all honesty, with rare exceptions (ie., maybe 'post-cards'?, etc.), I don't use the usps that I've found so unreliable. The following is my comment to an LA Times article regarding a Justice Department cover-up and as pertains to the usps! As I've previously related to you, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

U.S. Postal Service nearing bankruptcy as email asserts its dominance [Good! Let UPS take them over . the usps is totally unreliable]

Drudgereport: BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS WINTER... [Good! Let UPS take them over . the usps is totally unreliable]
Postal Service warns it could default.[ No surprise here .. the usps is totally unreliable! ] ...
Post Office proposes cutting 120,000 jobs, pulling out of healthcare plan .[ Let UPS take over the usps! ]...



Unions angry over Postal Service cuts They said any move to break labor contracts to lay off 120,000 would hurt the already ailing movement. (Washington Post) [ I reiterate my call for the well managed, efficient, and reliable company, UPS to take over the operation of the poorly managed, inefficient, and unreliable USPS. Postal Service seekin! g 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it's a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable:
October 15, 2010 (*see infra {ultimately delivered by UPS})
----------

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office c! ould not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]



The following includes the context relating to the foregoing:




Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go . the retaliation . the long awaited payback (quid pro quo -th! e no pros- witheld) for long overdue pervasively corrupt, defacto bankrupt u.s. downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities. SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:
The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:
ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

I believe him!

I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu: Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]



Here's some! real, complicit cover-up / fraud on the part of the federal government, et als:

October 15, 2010 (*see infra {ultimately delivered by UPS})


Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024


Dear Sir:

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer's browser) as per your office's request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I've installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named '112208opocoan'). The (civil) RICO action (as you're aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and at! torney fees, as an incentive for private prosecution of said claims pr obably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).


Th! e document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI's LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meetin! g and his location was not disclosed to me upon inquiry). The matter w as assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did - he served 12 years in prison, aggravated assault/manslaughter? - and no, there is no Chinese wall of separation - Andrew Maloney's the one that prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,



* A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted ! for and which could be used for payment to creditors, Los Angeles, etc..
* Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
* The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan's failure to file anything whatsoever by the court's deadline causing creditors and me substantial damages: [ Shiff Order of Dismissal With Prejudice on Coan's Failure to File Page 1 Page 2 ]
* Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District o! f Connecticut, who denied Coan's requested relief as to Coan but precl uded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [ transcript in pertinent part - http://albertpeia/crossexamofcoanbypeia.pdf ]
* Newly appointed judge, Maryanne Trump Barry, Donald Trump's sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.

* Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney's Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent ! corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.], Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule 'don't ask, don't tell'.



There is applicable ins! urance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.


Sincerely,


Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their 'fix' so cell phone best for contact).{recent change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks w! ith navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]


http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf  http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm  Cases against Wall Street lag despite Holder's vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won't Prosecute Financial Crime Washington's Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
CRIME STATS(u.s.No.1)
RankCountriesAmount
# 1United States :11,877,218
# 2United Kingdom :6,523,706
# 3Germany :6,507,394



UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder's vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.

THE OBAMA DECEPTION' http://albertpeia.com/obamadeceptionhighqualityversion.flv


http://www.albertpeia.com

http://www.albertpeia.com/todayspage.htm

http://albertpeia.com/fbimartinezcongallard.htm

Sincerely and Regards,

Al Peia

Thank you for sending me your email

 

9-29-11

Dear Congresswoman Roybal-Allard:

 

The following is my response to your email as well as previous responses, comments including my prior comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein and hereinafter:

 

What do you think of the American Jobs Act?

Hide Details

FROM:

TO:

·         [email protected]

Message flagged

Thursday, September 29, 2011 11:33 AM

 

 

Drudgereport: Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...
$200K Per Job? Geithner Says White House Plan Still Bargain … [ Riiiiight! .. In what alternate reality beyond political desperation mode? ] ...

 

Quite simply, at those prices, while somewhat short-term politically expedient, very uneconomic! Don’t forget: America's debt woe is worse than Greece's Sep 21st, 2011 News (CNN) - 'Our government is utterly broke. There are signs everywhere one looks…The government's total indebtedness - its fiscal gap - now stands at $211 trillion' 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse '. #8 The U.S. national debt continues to get worse by the day. Just check out what economics professor Laurence J. Kotlikoff recently told NPR .."If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That's the fiscal gap" ..' ! ]


Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.

Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ] New low of 26% approve of Obama on economy...
Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

 

Even that italian, belafonte, isn’t buying ‘wobama brand(ed)’:

 

Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 

 

 

 ------------

 

From: Rep. Lucille Roybal-Allard
To: [email protected]
Sent: Wednesday, September 28, 2011 11:01 AM
Subject: Responding to your message


Dear Mr. Peia:

Thank you for contacting me about the US Postal Service's (USPS) proposals to reduce costs in the face of ongoing budget deficits. I appreciate hearing your thoughts on this important issue…’

 

                  -----

 

Thank you very much for your response. This is an unattended mailbox. To send a reply to Congresswoman Roybal-Allard, please visit http://roybal-allard.house.gov/Contact/.

-----Original Message-----
From: "albert peia"
Sent: 9/28/2011 10:48:27 PM
To: "CA34HIMA"
Cc:
Subject: Re: Responding to your message

9-28-11

Dear Congresswoman Roybal-Allard:

It is always somewhat reassuring that someone, like yourself in Washington, is committed to finding solutions to the myriad of problems confronting the nation; some insurmountable [ America's debt woe is worse than Greece's Sep 21st, 2011 News (CNN) - 'Our government is utterly broke. There are signs everywhere one looks. The government's total indebtedness - its fiscal gap - now stands at $211 trillion' 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse '. #8 The U.S. national debt continues to get worse by the day. Just check out what economics professor Laurence J. Kotlikoff recently told NPR .."If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That's the fiscal gap" ..' ! , Soros: US Is Already in Double-Dip Recession CNBC.com , the unprosecuted frauds on wall street . Dave's Daily:'.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..' End of Quarter Price Mark-Ups; Dave's Daily http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-daily.html Dave Fry 9-27-11 'All you need do is view the last week of June 2011, the previous quarter end, and you'll note a similar quarter end jam-job.' , Roubini: U.S. in Throes of Economic Contraction Sep 27th, 2011 News (Bloomberg) , SHILLER: House Prices Probably Won't Hit Bottom For Years Sep 27th, 2011 News (BusinessInsider) , etc. ] , confronting the nation. Yet it's somewhat difficult to imagine that pension plans, particularly of the defined benefit variety as opposed to the more fiscally conservative defined contribution type, anywhere in america are over-funded in light of overly optimistic 'assumptions' for returns on said funds (ie., Drudgereport: STUDY: State, local gov'ts must raise taxes $1,400 a year for 30 years to fund pensions...
Chicago county faces $108 billion gap in pensions....
TREASURY RAIDS PENSIONS...
Treasury to tap pensions to fund government (Washington Post) ].

On September 22, 2011 I spoke with FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and with whom I had discussed the matters of which you are aware; and which matters are well within Washington's ability to easily resolve what should have been resolved in accordance with clear law quite some time ago. It is difficult to imagine the u.s. government solving the gargantuan, nation-destructive problems confronting the nation when through typical corruption, meaningful lawlessness, lack of will, etc., have chosen not to solve my matter as related to you in accordance with clear law and which would clearly be the right thing to do at long last.
Previously I wrote to thank you for thinking of me and for the courtesy extended. However, in all honesty, with rare exceptions (ie., maybe 'post-cards'?, etc.), I don't use the usps that I've found so unreliable. The following is my comment to an LA Times article regarding a Justice Department cover-up and as pertains to the usps! As I've previously related to you, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

U.S. Postal Service nearing bankruptcy as email asserts its dominance [Good! Let UPS take them over . the usps is totally unreliable]

Drudgereport: BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS WINTER... [Good! Let UPS take them over . the usps is totally unreliable]
Postal Service warns it could default.[ No surprise here .. the usps is totally unreliable! ] ...
Post Office proposes cutting 120,000 jobs, pulling out of healthcare plan .[ Let UPS take over the usps! ]...



Unions angry over Postal Service cuts They said any move to break labor contracts to lay off 120,000 would hurt the already ailing movement. (Washington Post) [ I reiterate my call for the well managed, efficient, and reliable company, UPS to take over the operation of the poorly managed, inefficient, and unreliable USPS. Postal Service seekin! g 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it's a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable:
October 15, 2010 (*see infra {ultimately delivered by UPS})
----------

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office c! ould not locate same). This cover letter (9-13-10) is on the 3 disks w ith navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]


The following includes the context relating to the foregoing:


Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go . the retaliation . the long awaited payback (quid pro quo -th! e no pros- witheld) for long overdue pervasively corrupt, defacto bankrupt u.s. downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities. SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:
The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:
ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

I believe him!

I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu: Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]



Here's some! real, complicit cover-up / fraud on the part of the federal government, et als:

October 15, 2010 (*see infra {ultimately delivered by UPS})


Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024


Dear Sir:

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer's browser) as per your office's request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I've installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named '112208opocoan'). The (civil) RICO action (as you're aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and at! torney fees, as an incentive for private prosecution of said claims pr obably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).


Th! e document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI's LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meetin! g and his location was not disclosed to me upon inquiry). The matter w as assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did - he served 12 years in prison, aggravated assault/manslaughter? - and no, there is no Chinese wall of separation - Andrew Maloney's the one that prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,



* A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted ! for and which could be used for payment to creditors, Los Angeles, etc..
* Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
* The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan's failure to file anything whatsoever by the court's deadline causing creditors and me substantial damages: [ Shiff Order of Dismissal With Prejudice on Coan's Failure to File Page 1 Page 2 ]
* Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District o! f Connecticut, who denied Coan's requested relief as to Coan but precl uded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [ transcript in pertinent part - http://albertpeia/crossexamofcoanbypeia.pdf ]
* Newly appointed judge, Maryanne Trump Barry, Donald Trump's sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.

* Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long B! each, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney's Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent ! corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.], Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule 'don't ask, don't tell'.



There is applicable ins! urance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.


Sincerely,


Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their 'fix' so cell phone best for contact).{recent change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks w! ith navigable hyperlinks to the subject files for ease of reference, i ncluding the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]


http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder's vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won't Prosecute Financial Crime Washington's Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
CRIME STATS(u.s.No.1)
RankCountriesAmount
# 1United States :11,877,218
# 2United Kingdom :6,523,706
# 3Germany :6,507,394


UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder's vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.

THE OBAMA DECEPTION' http://albertpeia.com/obamadeceptionhighqualityversion.flv


http://www.albertpeia.com

http://www.albertpeia.com/todayspage.htm

http://albertpeia.com/fbimartinezcongallard.htm

Sincerely and Regards,

Al Peia

 

Thank you for sending me your email.

 

 

                                                                                                                                                                                       9-28-11

Dear Congresswoman Roybal-Allard:

It is always somewhat reassuring that someone, like yourself in Washington, is committed to finding solutions to the myriad of problems confronting the nation; some insurmountable [ America’s debt woe is worse than Greece’s Sep 21st, 2011 News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks… The government’s total indebtedness — its fiscal gap — now stands at $211 trillion’  8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse ‘…  #8 The U.S. national debt continues to get worse by the day.  Just check out what economics professor Laurence J. Kotlikoff recently told NPR….“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap” ..’   ,    Soros: US Is Already in Double-Dip Recession CNBC.com  , the unprosecuted frauds on wall street …  Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’ End of Quarter Price Mark-Ups; Dave’s Daily   http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-daily.html  Dave Fry  9-27-11 ‘All you need do is view the last week of June 2011, the previous quarter end, and you'll note a similar quarter end jam-job…’  , Roubini: U.S. in Throes of Economic Contraction Sep 27th, 2011 News (Bloomberg) , SHILLER: House Prices Probably Won’t Hit Bottom For Years Sep 27th, 2011  News (BusinessInsider) , etc. ] , confronting the nation. Yet it’s somewhat difficult to imagine that pension plans, particularly of the defined benefit variety as opposed to the more fiscally conservative defined contribution type, anywhere in america are over-funded in light of overly optimistic ‘assumptions’ for returns on said funds (ie., Drudgereport: STUDY: State, local gov'ts must raise taxes $1,400 a year for 30 years to fund pensions...
Chicago county faces $108 billion gap in pensions....
TREASURY RAIDS PENSIONS...
Treasury to tap pensions to fund government (Washington Post) ]. 

On September 22, 2011 I spoke with FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and with whom I had discussed the matters of which you are aware; and which matters are well within Washington’s ability to easily resolve what should have been resolved in accordance with clear law quite some time ago. It is difficult to imagine the u.s. government solving the gargantuan, nation-destructive problems confronting the nation when through typical corruption, meaningful lawlessness, lack of will, etc., have chosen not to solve my matter as related to you in accordance with clear law and which would clearly be the right thing to do at long last.  

Previously I wrote to thank you for thinking of me and for the courtesy extended. However, in all honesty, with rare exceptions (ie., maybe ‘post-cards’?, etc.), I don’t use the usps that I’ve found so unreliable. The following is my comment to an LA Times article regarding a Justice Department cover-up and as pertains to the usps! As I’ve previously related to you, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

 

U.S. Postal Service nearing bankruptcy as email asserts its dominance [Good! Let UPS take them over … the usps is totally unreliable]

Drudgereport: BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS WINTER... [Good! Let UPS take them over … the usps is totally unreliable]
Postal Service warns it could default…[ No surprise here .. the usps is totally unreliable! ] ...
Post Office proposes cutting 120,000 jobs, pulling out of healthcare plan …[ Let UPS take over the usps! ]...


Unions angry over Postal Service cuts They said any move to break labor contracts to lay off 120,000 would hurt the already ailing movement. (Washington Post) [ I reiterate my call for the well managed, efficient, and reliable company, UPS to take over the operation of the poorly managed, inefficient, and unreliable USPS. Postal Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it’s a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable: 
October 15, 2010 (*see infra {ultimately delivered by UPS})

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

The following includes the context relating to the foregoing:

Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go … the retaliation … the long awaited payback (quid pro quo -the no pros- witheld) for long overdue pervasively corrupt, defacto bankrupt u.s. downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities.  SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!

 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 


http://www.albertpeia.com 

 

http://www.albertpeia.com/todayspage.htm  


http://albertpeia.com/fbimartinezcongallard.htm  

 

Sincerely and Regards,

 

Al Peia

 

 

Thank you for sending me your email.(10-21-11)

 

http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  

 

 

 

Krauthammer: Why Abbas went to the U.N. (Washington Post) [ Maybe Mr. Krauthammer should just ask him why Im sure hed get an earful of sound reasons. Then again, maybe Mr. Krauthammer might not be listening; after all, as a jewish man himself, hed certainly find himself within the exceedingly small minority of jewish people who would (listen certainly not the israeli lobby nor capital hill which the perspicacious Pat Buchanan has correctly observed as being occupied israeli territory). Yet, somewhere along Mr. Krauthammers timeline / history he conveniently but not surprisingly forgets what was already decided, yet never lived up to. After all (once again), if military-oriented warring states as israel are through aggression permitted to retain by superior military power the benefits of war, there would be no end to war; as in israels case, it would always pay to go to war. No one could rationally support such an irrational and untenable position. Hence: UN Resolutions 242 and 338  http://reut-institute.org/Publication.aspx?PublicationId=541  (I used the Reut Institute, an israeli organization, reference so as to preclude any accusation of anti-israeli bias).  This term refers to UN Security Council Resolutions that lay the foundation for the Israeli-Palestinian political process, based on territorial compromise and a solution to the problem of Palestinian refugees.

Definition

The term UN Resolutions 242 and 338 refers to two resolutions approved by the UN Security Council. Resolution 242 was approved after the 1967 war (11/67) while Resolution 338 was approved during the 1973 war (10/73).

Background

UN Resolutions 242 and 338 call for the peaceful resolution of the Arab-Israeli conflict through territorial compromise. The acceptance of the Resolutions by Arab elements indicates their recognition of Israel.

The political process between Israel and the Arabs - including the 1978 Camp David Accords between Israel and Egypt (9/78), the Israel-Egypt Peace Treaty (3/79), the Madrid Conference (10/91), the Peace Treaty between Israel and Jordan (10/94), and the structure of the Israeli-Palestinian peace process since 9/93 - is founded on these Resolutions.

Content of Resolutions

The main articles of UN Security Council Resolution 242 (11/67) call for:

  • Withdrawal of Israeli armed forces from territories occupied in the 1967 war.
  • Termination of the state of belligerency.
  • Mutual "acknowledgement of the sovereignty, territorial integrity and political independence of every State in the area, and their right to live in peace within secure and recognized boundaries free from threats or acts of force."
  • Achieving a just settlement of the refugee problem.

Resolution 338 (10/73) reiterates the importance of Resolution 242, and calls upon the sides to begin negotiations with the aim of achieving a just and durable peace.

Interpretations

The interpretation of the resolutions is the object of political and legal controversy primarily regarding two points:

Extent of Israeli withdrawal - The first article of Resolution 242 is an object of controversy because of differences in wording between the English and the French versions of the text. The English version talks about Israeli withdrawal "from territories...", while the French version talks about Israeli withdrawal "from the territories" (des territories...). Thus, the addition of the word "the" in the French version implies that Israel is required to withdraw from all the occupied territories.

Solution to the refugee problem - UN Resolution 242 talks about a "just settlement" to the refugee problem without addressing the specific solution that appears in UN General Assembly resolution 194. Arab countries, as well as others, interpret Resolution 194 as the basis for the "right of return" of Palestinian refugees1. Hence, they argue that Resolution 194 is the interpretation of a "just settlement" that appears in Resolution 242. However, because Resolution 242 does not specifically mention 194, Israel does not interpret it as harboring the "right of return" and therefore sees it as a possible basis for the solution to the refugee problem.

 

 

Some more history:

The Balfour Declaration of 1917 http://en.wikipedia.org/wiki/Balfour_Declaration_of_1917#cite_note-1 (dated 2 November 1917) was a letter from the British Foreign Secretary Arthur James Balfour to Baron Rothschild (Walter Rothschild, 2nd Baron Rothschild), a leader of the British Jewish community, for transmission to the Zionist Federation of Great Britain and Ireland.

His Majesty's government view with favour the establishment in Palestine of a national home for the Jewish people, and will use their best endeavours to facilitate the achievement of this object, it being clearly understood that nothing shall be done which may prejudice the civil and religious rights of existing non-Jewish communities in Palestine, or the rights and political status enjoyed by Jews in any other country."[1]

The statement was issued through the efforts of Chaim Weizmann and Nahum Sokolow, the principal Zionist leaders based in London; as they had asked for the reconstitution of Palestine as the Jewish national home, the declaration fell short of Zionist expectations.[2]

 

[Yeahthose zionist expectations can really be a bi**ch / deal-breakers when searching for peaceful resolutions! ]

 

As a former Doctor of Psychiatry, I’m sure Mr. Krauthammer might appreciate the last portion of this comment, infra: Abbas announces U.N. member bid Move appears to seal fate of U.S. efforts to broker a deal to resume Israeli-Palestinian talks. (Washington Post) [ U.S. (israeli) efforts? Resume infinite talks? Is this some parallel universe they’re operating in? Let’s apply the Einstein definition to such a preposterous position promulgated by the u.s. / israelis: ‘Insanity is doing the same thing over and over again and expecting different results.’ Time for action regarding this long overdue independent statehood which should be ‘fate accomplis’! U.N. showdown could test U.S. role in Mideast One week before a United Nations vote over Palestinian statehood, the Obama administration is confronting the stark new limits of its influence. (Washington Post) [  What role? As israel’s mouthpiece? War, war, and more war? Death, destruction, and self-defeat including defacto bankruptcy for the u.s.? Fomenting anti-american sentiment? What role? The role the israeli lobby says is appropriate for america? How foolish america has been! Anxieties mount over Palestinian statehood bid (WP) [ And anxieties mount over no statehood bid! What gives here! Only ‘yesterday’ (not long ago), hillary clinton was talking about the need for and appropriateness of same. Has the israeli lobby, so costly and detrimental to american interests here and abroad, given her and hers a ‘talking to’? . U.S. vetoes Security Council resolution denouncing Israeli settlements (WP) [ Drudgereport: Hillary Clinton: Israeli Settlements 'Illegitimate'… [We know that hill … We’ve known that for quite some time along with their illegal nukes, war crimes, etc…The whole world knows that so don’t just talk about it,DO SOMETHING!]..pervasively corrupt, defacto america’s self-defeating,self-destructive way U.S. vetoes Security Council resolution denouncing Israeli settlements Sounds like a plan!..for self-destruction! ] Israel's fear (WP)[Wake up! Illegal nuke totin’, war crimes nation israel’s fears-p l e a s e, spare me the pro-israeli b*** s*** ! What israel fears is a projection of their own ill-founded motives/actions for which all norms, rules, laws governing civilized behavior are suspended for expedience at the least, and blood-thirst that some posit as a remnant of their historic role as Christ-killers(with roman ‘juice’).  Isn’t it time, in these desperate times for america, to put u.s., not israel’s interests, first.Who cares what israel fears!In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States!     Israel wary of transition in Egypt, concerned about regional stability (Washington Post) [ Who cares what the paranoid, war criminal, illegal nuke totin’, war criminal israelis are wary of. This country has gone down the tubes cow-towing to the paranoid, self-interested concerns of the psycho / sociopathic zionist israelis who are forever projecting their own pathological motives to every turn of history while ignoring their own culpability in producing the very outcomes they purportedly seek to avoid. War, conflict, greed, bloodshed is the historically based israeli way. ]   A resurgent Syria alarms u.s., israel (Washington Post) [  Tell me! What doesn’t alarm these two paranoid, zionist neo-nazi regimes of oppression, suppression, aggression, and regression. If they were individuals, they’d undoubtedly be diagnosed as psychopaths, sociopaths totally ignorant of the rights of others, laws, civilized behavior as israel pads her illegal nuke arsenals with american supplied weaponry / support while expecting all other nations to ‘role over and die’. Bipolar / manic / depressive, the ups and downs are increasingly difficult for even americans to follow. Obsessive / compulsive thy names are zionist israel / america. Projection / displacement regarding their own illegal acts, war crimes, etc.; what they distinguished from what they do … dissociative identity disorder, (dissociative) psychogenic fugue? Yes … the u.s. and israel are the world’s lunatics, sorely in need of therapy! ]  Syria's fresh interference in Lebanon and its increasingly sophisticated weapons shipments to Hezbollah have alarm officials and prompt Israel's military to consider striking a Syrian weapons depot.
Editorial: Russia and China’s cowardly vetoes (Washington Post) [ How sad … for the editorial board of this newspaper … While there may have been a time when such an observation might have been appropriate, that certainly isn’t so today; nor has it been otherwise so for quite some time. After all, what nation is invading other nations; killing, pillaging, and plundering for the sake of alignment with a regime for which propaganda has displaced even basic historic truths in covering their trail of warring destruction; ie., the coup d’etat / JFK assassination leaving the military industrial complex to their own (self-perpetuating) devices (more conflict / war for bigger budgets / corporate welfare) as warned against by the great though substantially underrated President General Eisenhower. I also must say that there’s been a curious ‘coincidence’ to ‘censor’ of my comments relating the militance of israel and that american faction so detrimental to this nation and the world to the point that complaints about same have been futile and no longer made by me. With the longevity of newspapers already (and quite recently) predictably diminished (obsolescence, agendas, censor, etc.), one would have ‘expected something more’ in terms of the right thing, the honorable thing to do on the way out. Russia, China block Syria resolution They cast a rare double veto on the U.N. Security Council to block a draft resolution condemning Syria for its crackdown. (Washington Post) [ Yes; and even rarer was the rationality that went into such a double veto vote. After all, you don’t see the oppressive, repressive ‘nation state’ (? … family owned? … what’s up with that?) Saudi Arabia treated like Syria. Drugereport: Clashes in Saudi Arabia leave 14 wounded...
Police open fire on civilians... [But this is ok because saudi arabia’s a doormat for israeli/u.s. interests]

[Yeahthose zionist expectations can really be a bi**ch / deal-breakers when searching for peaceful resolutions! ]

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        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 / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holders vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        

Google search: About 94,700 results (0.20 seconds) (from page 1 of many regarding bush nazis)

 

Rubin: How about OWS’s anti-Semitism? (Washington Post) [ When I first saw this headline I thought, zionist robert rubin’s retort; then expected a reference to failed secretary of treasury as he was, Hank Paulsen, a ‘Christian Scientist’. From the consequences of his disastrous reign and bailouts of the perpetrators of history’s largest frauds by far (bush’s base, ie., that 1%, etc.), to the detriment of the 99%, the rest of this nation, and the world; with no prosecutions, adding insult (to intelligence, etc.) to irrevocable injury, one might have though paulsen to have literally been a scientist of Christianity wherein he studied the effects of imposing (not vows of but real) poverty upon the Christian populace. While numbers can manipulated, and there are those stereotypes of greed, unscrupulous money hunger, ‘shylocks’, etc., ( I invite attention to the very worthy, well produced, documented video ‘Esoteric Agenda’ http://www.albertpeia.com/esotericagenda.flv  which discusses the rothchild banking cabal ), it’s really difficult to dismiss entirely the hugely disproportionate representation among the frauds on wall street {many unprosecuted courtesy of ‘goldman sachs’, etc., clout). Then again, one can’t really say ‘anti-semitic’ because the reference does not pertain to Arabs who are also Semites. It’s analogous to my own dilemma regarding the disportionate deleterious effect of corrupt jewish federal judges (ie., shiff, matz, etc.), trustees (panel, ie., coan), etc., relative to that of the corrupt Christian judges (ie., trump, hall, etc.), and trustee (ie., martini, leonard, etc.), and of the original RICO defendants (italian dogs, etc.) who payed their bribes through, ie., trump casinos, etc., and even directly, ie., private ‘retention’ of hugh leonard, u.s. trustee, and of all things, with (cia favored) illegal drug money at that. } So, while not totally logical, one might say in broader strokes given limited resources, not irrational either. After all, in my own experience, jews have favored jews over non-jews as myself, despite being contrary to facts and law. But, as well, Italian dogs as, ie., alito, etc. (and, God knows I loved and respected my Grandmother who was 100% Italian, and Grandfather, Como, Italy but of ancestral Greek origins) (yet I consider those seaside heights greeks dogs too!) , seem to have favored italian mobsters over me (I hate the mob!), which quid pro quo seems to have worked out well for alito and german trump. http://www.albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf   and   http://albertpeia.com/fbimartinezcongallard.htm     ]

 

 

http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  
 

Lewis: What would MLK say to Obama?  (Washington Post) [ He’d say not color of skin, but that ‘content of character thing’ should at least start at the DOJ under fellow black Holder. I mean, who would take them seriously if it didn’t!  UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '.    White House turns attention to blacks Focus comes amid a growing concern that economic conditions might hamper black voter turnout. (Washington Post) [ As if we couldn’t see that coming. Yet, the ‘make-work, make-shift’ jobs already extant in the federal, state, local ‘public service’ sectors along with the otherwise unemployable at, ie., the u.s. postal service, etc., are uneconomic and overly costly (Drudgereport: Obama Economists Admit: 'Stimulus' Cost $278,000 per Job... ) at best and downright wasteful at worst, the latter being the most prevalent scenario. Moreover, despite the rhetoric, blacks will always ‘back the black’. No criteria. No analysis. ‘Back the black’ their despoiling cry. I think wobama and holder are probably more concerned with making sure the ‘black panthers’ are in full force at the polls to intimidate white voters, which racism they’ve given ‘carte blanche’, protection from prosecution … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '. With wobama et als, the jive-talking b***s*** never ends!     Robinson: King’s dream remains unrealized  (Washington Post) [ Yeah! That ‘content of their character’ thing’s a b***ch to live up to … just don’t measure up! What’s a white person to do, especially when black atty. General Holder with Obama’s tacit approval is racist himself (themselves)  UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '. Drudgereport: 'Mob' beatings at WI state fair...
'Hundreds of young black people beating white people'... [ Typical…  ]
Fairgoers 'pulled out of cars'...
'They were just going after white people'...
Heightened security...

Islamists kill dozens in Nigeria Christmas bombs [ Blacks’ black Christmas! Typical! ]

For ‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I believe the under-profiled black serial killer is also the consequence of their proclivity for and love of killing, random, for no reason other than for the sake of killing  (which distinguishes them from and positions them below other feral beasts) and otherwise, and an historic predisposition toward canabalism. After all, the contra-indicated mainstream view (tv and otherwise) calls for a white perp in terms of ‘profile’ which is of course, ridiculous.

I believe the under-reporting is owing to multiple killings by blacks being classified as something other than ‘serial’; ie., gang, gang related, etc.. Moreover, the anti-white bias of the black perps is also a reality that’s under-reported. Take a look at the following brutally uncivilized black on white violent rapes/murders:

http://www.albertpeia.com/whitesvictimizedbyblacks.htm 

The followings a partial list of under-reported / under-profiled black serial killers:

Black Serial/Mass/Spree Killer List:
1. Matthew Emanuel Macon (Murdered and Raped 5 White Women in Lansing)
2. Jimmie Reed (Murdered his wife and his 2 month old daughter and set them on fire)
3. Shelly Brooks (Murdered 7 prostitutes in Detroit Cass Corridor)
4. Justin Blackshere (Stabbed two white cooks at Cheli
s Chili downtown Detroit)
5. Jervon Miguel Coleman (Murdered three people.)
6. Donell Ramon Johnson (Murdered a mother and a daughter)
7. Brian Ranard Davis (6 women known murdered by nigger)
8. Paul Durousseau (Seven women)
9. Mark Goudeau
The Baseline Killer (Eight women and a man in 2005-2006)
10. Coral Eugene Watts (11 women in Texas & 1 in Michigan)
11. Anthony McKnight (Five girls and young women)
12. Derrick Todd Lee (8 Women)
13. Charles Lendelle Carter (4 known murders; admits to
hunting Atlantans for 15 years!)
14. The Zebra Killings (71 White people)
15. Chester Turner (L.A.s most prolific killer 12 women killed.)
16. Lorenzo J. Gilyard (Kansas City, MO.
13 victims)
17. Eugene Victor Britt (Gary, IN.
3 known murder/rapes.)
18. Reginald and Jonathan Carr (The Wichita Massacre
6 Whites murdered)
19. Ray Joseph Dandridge and his uncle, Ricky Gevon Gray (Richmond, VA.
Murdered 7 people in 7 days, including an entire White family.)
20. The Tinley Park Murderer (Suspect hasn
t been found but has been described as black murdered 5 women in a store.)
21. Henry Louis Wallace (Raped and strangled 5 women to death.)
22. Charles Johnston (Murdered 3 unarmed white men in hospital)
23. Craig Price (Brutally murdered 3 women)
24. Harrison Graham (Brually Murdered 3 women)
25. Charles Lee Cookie Thornton (Murdered 6 Whites at the Kirkwood, MO. city council. )
26. & 27. Darnell Hartsfeld & Romeo Pinkerton (Abducted and Murdered 5 from a restaurant)
28 &29. John Allen Muhammad & Lee Boyd Malvo (Sniped 11 people from a car in DC, 9 died.)
30. George Russell (3 women, WA state)
31. Timothy W. Spencer (5 killed, Arlington, VA and Richmond, VA)
32. Elton M. Jackson (12 gay men killed, Norfolk, VA area)
33. Carlton Gary (3 killed in Columbus, GA)
34. Mohammed Adam Omar (16 women, Yemen. Omar is Sudanese.)
35. Kendall Francois (8 women, Poughkeepsie, NY and surrounding areas.)
36. Terry A. Blair (8 women, Kansas City area)
37. Wayne Williams (33 many of them children!, Atlanta, GA)
38. Vaughn Greenwood (11 killed in LA)
39. Andre Crawford (10 killed in Chicago
southside)
40. Calvin Jackson (9 killed possibley more in NY)
41. Gregory Klepper (killed 8, Chicago
southside)
42. Alton Coleman (Killed 8 in the Midwest)
43. Harrison Graham (killed 7+ in N. Philadelphia)
44. Cleophus Prince (6 killed in, San Diego
45. Robert Rozier (7 killed in, Miami)
46. Maurice Byrd (killed 20 + in St. Louis)
47. Maury Travis (17 and rising, St. Louis and possibly also Atlanta)
48. Hulon Mitchell, a.k.a. Yahweh Ben Yahweh (killed 20+ in Florida)
49. Lorenzo Fayne (killed 5 children in East St. Louis, IL)
50. Paul Durousseau, (killed 6, two of which were pregnant women, Jacksonville, FL; Georgia.)
51. Eddie Lee Mosley (killed 25 to 30 women, south Florida)
52. Henry Lee Jones (killed 4 in, south Florida; Bartlett, TN)
53. Richard
Babyface Jameswhite (15 killed in, New York; Georgia.)
54. Donald E. Younge, Jr. (killed 4), East St. Louis, IL; Salt Lake City, UT.
55. Ivan Hill (killed 6 in Los Angeles area).
56. Michael Vernon (Bronx, NY. Killed at least seven people
)
57. Chester Dewayne Turner (12 women killed in, Los Angeles)

 

Of Course There Are Black Serial Killers by Lynette Holloway on  July 15, 2010 The case of the "Grim Sleeper" inspires a second look at the popular perception that serial killing is the province of clever white men.

 

Serial Murderers' Row July 16, 2010 The following black men are among the most prolific serial killers in U.S. history. http://www.theroot.com/multimedia/gallery-meet-6-black-serial-killers  Plus: Behind the myth that only white men commit such crimes.

Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html

ARREST MADE IN LOS ANGELES GRIM SLEEPER SERIAL KILLER CASE July 07, 2010 http://articles.cnn.com/2010-07-07/justice/grim.sleeper.arrest_1_lonnie-david-franklin-serial-killer-case-family-members?_s=PM:CRIME  |By Mallory Simon, CNN ‘Authorities in California said Wednesday they have arrested a suspect in the Grim Sleeper serial killer case and will charge him with 10 counts of murder.Lonnie David Franklin Jr., 57, faces an additional count of attempted murder, Capt. Kevin McClure with the Los Angeles Police Department said.Franklin will arraigned in court Thursday morning, McClure said.The California Attorney General's office attributed the arrest to DNA collected from a relative of the suspect, in a controversial and rarely used practice known as familial DNA search.’

Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.

Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ]New low of 26% approve of Obama on economy...
Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

 

Even that italian, belafonte, isn’t buying ‘wobama brand(ed)’:

 

Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

[Yeahthose zionist expectations can really be a bi**ch / deal-breakers when searching for peaceful resolutions! ]

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        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 / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holders vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        

 

 

http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  
 



Obama can’t win  NATO’s success in Libya proves that no good Obama .. goes unpunished. (Washington Post) [ Yeah! I think he’s correct, using most of his words: Obama can’t win  NATO’s success in Libya proves that no good Obama .. goes unpunished. I mean come on, with ie., war crimes nation israel and despotic saudi arabia unscathed; not to mention the defacto bankruptcy of all members of the ‘nato alliance’ and america’s particularly among their war crimes, who’s kidding whom? Yes, it’s true … obama / nato can’t win while they’re unequivocally losing!  Saying otherwise no longer means it’s true!  Poll puts Obama in dead heat with 4 GOP contenders (Washington Post) [ Wow! … I don’t know about that … seems hard to reconcile that poll with wobama’s record low approval ratings consonant with wobama’s record low performance consonant with the nation’s record low prospects in large part owing to wobama’s non-performance by deviating from campaign promises; and hence, his consequent consummate performance as ‘bush failure 3’. Milbank: GOP’s losing obsession with health care (Washington Post) [ No … it’s Mr. Milbank’s losing obsession with loser ‘wobama the b’ (for b***s***), that’s the real story here. Drudgereport: 10-5-11 POLL: OBAMA 41% ANY REPUBLICAN 47%...
Opposition grows, hardens...
JOBS: ZERO...
BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS WINTER... [Good! Let UPS take them over … the usps is totally unreliable]
AMERICA FALLS TO 5TH PLACE...
46.2 million Americans are now poor...
22% of children in poverty...
Dramatic drop in median income...
Likely to worsen...
POVERTY SOARS
SETS NEW RECORD
  Wall Street Puppet Obama Sympathizes With Anti-Wall Street Protests Steve Watson & Paul Joseph Watson | Claims Government has not gone after banksters because … [ More wobama b***s*** for the multi-trillion dollar fraud, still extant, etc.. Of course, as a total fraud himself, no small wonder that as per wobama’s fraudulent playbook the blatant wall street frauds are not, by him, considered fraud. Remember those ‘shovel ready’ jobs promised last (but eternal) campaign by wobama? Well, just those required to shovel his infinite b***s***. Then those fightin’ words from ‘the great prevaricator’ … (to GOP) unite behind his jobs bill or get ready to be run "out of town" … shows his disconnect with reality and proclivity for rhetoric / b***s*** since it’s he who should and will be ‘run out of town on a rail’. He’s so pathetic! What a total loser! Who’s foolish enough to even listen to this total b***s*** artist wobama? ] OWS Needs to Target Real Enemies Or Face Irrelevancy` Kurt Nimmo | Real enemies are the Bilderbergers, CFR, the Trilateral Commission, and the Federal Reserve — not lowly Wall Street stock brokers. [ This is quite incorrect! I’m not saying don’t target the Bilderbergers, CFR, the Trilateral Commission, and the Federal Reserve, etc.; but, for the most part, they are ‘frauds fait accomplis’, as ie., in accordance with the adgage ‘behind every fortune, a crime’ (subject to very few exceptions, ie., ‘the late, great Steve Jobs’ (bill gates is not among those exceptions). They (Alex Jones, et als) ignore, owing to their lack of ‘real world experience’, organized crime of its ‘various flavors’, ethnicities, even cabals / niches within government. The fact is and remains, as with politics (O’Neil), all crime is ultimately local. You must always prosecute the proximate crime causing the proximate harm without fail (nominal crimes as, ie., marijuana possession, should take a back seat to distribution, ie., cia, cartels, bribery, etc., given limited resources, budgetary constraints. After all, given the u.s. government’s involvement in the distribution aspects of the illegal drug business, ie., cocaine, etc., cia, etc., possession/use falls into the nebulous realm of civic / patriotic duty?). Only by so doing will you ultimately get those higher up on the criminal food chain who are ‘protected’ by layers of corrupt bureaucracy as is pervasive in american government / society, federal, state, and local. ]Don’t Let Obama Campaign Fronts Infiltrate OWS – Occupy The Fed Paul Joseph Watson | Join Alex Jones to strike a crushing blow against the true financial oligarchy. [ This is sound advice. Already part of the problem, they’ll just leverage that to squeeze campaign financing from the criminals (bribes, etc.) then leave OWS hanging (the quid pro quo)].  Unions angry over Postal Service cuts They said any move to break labor contracts to lay off 120,000 would hurt the already ailing movement. (Washington Post) [ I reiterate my call for the well managed, efficient, and reliable company, UPS to take over the operation of the poorly managed, inefficient, and unreliable USPS. Postal Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it’s a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable: 
October 15, 2010 (*see infra {ultimately delivered by UPS})

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go … the retaliation … the long awaited payback (quid pro quo witheld) for long overdue downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities. 3 Top Crooks Still Roaming Free After the Economic Crash Wall St. Cheat Sheet The global economy and stock markets took a nose dive in 2008. But that hasn’t stopped some of the biggest masterminds from escaping a day of luxury…’ The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  SEC accused of destroying files Former agency official says SEC violated federal law by destroying records of enforcement cases in which it decided not to file charges. (Washington Post) [ Duh, ya think? The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!     SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission may have destroyed documents and compromised enforcement case ...   Grassley: Agency may have got rid of Goldman, Madoff documents   Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) — The Securities and Exchange Commission may have destroyed documents and compromised enforcement cases involving activity at large banks and hedge funds during the height of the financial crisis in 2008, according to allegations made by a lawmaker on Wednesday. “From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” said Sen. Chuck Grassley, Republican of Iowa, in a letter to the agency’s chairman, Mary Schapiro. Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.” Agency staff “destroyed over 9,000 files” related to preliminary agency investigations, according to a letter sent in July to Grassley, the top Republican on the Senate Judiciary Committee, and obtained by MarketWatch. The allegations were made by SEC enforcement attorney, Darcy Flynn, in a letter to Grassley. Flynn is a current employee, and according to the letter, received a bonus for his past year’s work. Flynn alleges the SEC destroyed files related to matters being examined in important cases such as Bernard Madoff and a $50 billion Ponzi scheme he operated as well as an investigation involving Goldman Sachs Group Inc. GS +0.33%   trading in American International Group credit-default swaps in 2009. Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. WFC +1.34% , Bank of America Corp. BAC +0.81% , Citigroup C +0.13%  , Credit Suisse CS +0.38%  , Deutsche Bank DB +0.79%  Morgan Stanley MS -0.06%  and the now-bankrupt Lehman Brothers. The letter goes into particular detail about Deutsche Bank, the former employer of current SEC enforcement chief Robert Khuzami as well as former enforcement chiefs Gary Lynch and Richard Walker…’ Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ [ Oh but it does make sense Sen. Grassley:   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] Train Reading: The Stock Market Is Insane The Wall Street Journal ,   Welcome To The New Bear Market For Stocks  Forbes / Suttmeier ,  Dow/Gold Ratio Lowest Since 1987 Crash   Forbes /  Adrian Ash  ,   Ignore Buffett's Advice, Don't Buy Stocks Forbes /  Dohmen , The "Crimes" That Wrecked The Markets  Forbes / Lenzner , Oversight board faults Deloitte audits Deloitte & Touche took the word of companies it audited instead of properly performing its watchdog function, an oversight report says. (Washington Post) [ Come on! Let’s talk reality! ASOP! American Standard Operating Procedure! The quid pro quo for the ‘fee’. The bribe! From politics to business, particularly on fraudulent wall street, this is now the failure-prone / failure-guaranteed, pervasively corrupt, defacto bankrupt ‘american way’! Accounting Gimmics Resurface as Growth Flounders at TheStreet ‘Rebekah Smith, director of financial advisory services at accounting and consulting firm GBQ consulting, says accounting tricks and schemes are likely to start unraveling as we head into 2012 and the lag effect catches up. "The typical accounting fraud goes on for about 18 to 26 months before it is uncovered. The frauds that took place in 2009 are not going to surface until later in 2011 or into 2012." ‘   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  , This is an especially great opportunity to sell / take profits because there’s much worse to come! Watch for more fake reports / data in their infinite political desperation both here and across the sea! The REAL $200 TRILLION Problem Bernanke’s Worried About  Phoenix Capital... ‘US Commercial banks have $200 TRILLION in interest rate based derivatives sitting on their balance sheets. And guess which banks have the greatest exposure…’  ,  Tech Leading Market Lower The Wall Street Journal  ,  Banks closed in Fla, Ga, Ill; 2011 total is 68   ,   No Recession Coming ... It's Already Here  Previous:8-18-11 Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says    Crimes Wrecked The Markets    ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data at Forbes  ,  HP, Dell hammered as tech-spending outlook darkens   JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade   Dell braces investors for a bumpy road Dell makes a case on why it can better weather an upcoming storm  ,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    Famed economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com)   Five Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Newsmax.com)  US Recession Is Guaranteed: Expert CNBC.com  Can President Obama hold on to African American voters in 2012? Cadre of allies is snapping back at critics in the black community and making appeals for racial loyalty.  (Washington Post) [ Appeals for racial loyalty? What’s up with that? Sounds like black racism! How ‘bout some reality in the form of foreboding from Pat Buchanan! MSNBC Yet Again Implies Criticism of Obama Is Racist Paul Joseph Watson | General Electric-owned (49%) network is earning its federal bailout money. [Yet, it’s holder / wobama who’re the racists … Robinson: King’s dream remains unrealized  (Washington Post) [ Yeah! That ‘content of their character’ thing’s a b***ch to live up to … just don’t measure up! What’s a white person to do, especially when black atty. General Holder with fellow black Obama’s tacit approval is racist himself (themselves)  UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '. Drudgereport: 'Mob' beatings at WI state fair...
'Hundreds of young black people beating white people'... [ Typical…  ]
Fairgoers 'pulled out of cars'...
'They were just going after white people'...
Heightened security...

[ .. (the following incident is my personal experience: black perps, white victims).. while walking through Military Park (a sliver of a park - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DAs position with both felonies ( he went to prison pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of bystander effect / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp (a police officer here in California was the object of intense criticism for having used a flashlight to subdue a criminal after a long chase so I included that here) . The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal went to jail (where they belong). The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so. I was also mugged by 4 blacks and 2 hispanics in an incident here in Los Angeles, CA. But, to be fair and balanced, the RICO litigation involves those uncivilized who consider themselves whites http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  (predominantly but not exclusively jews / romans-italians / mobsters / government slugs). ]

Outrage over exotic-game release in Ohio; most are hunted down, killed Private collectors actively trade in such animals all over the U.S. in a vibrant and poorly regulated market. (Washington Post) [The scope of my comment pertains to the Cats only. How could anyone put the attenuated potential harm of americans ahead of literally the lives of these magnificent, exotic Cats. Even more pathetic was jack hanna’s defense of the slaughter. He should be boycotted in any and all of his endeavors, themepark / zoos,  and his abc show from which he should be fired. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        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 / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holders vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION
  http://albertpeia.com/obamadeceptionhighqualityversion.flv      ] 

 

Ron Paul, the alternative candidate, is a force to be reckoned with He fears that America is turning into an Orwellian police state. Yet the obstetrician-turned-politician’s life could be described as the American Dream. (Washington Post) [ Yes, indeed! And, make no mistake, this is no paranoid delusion (as a Doc he at least knows what that means) on his part; but rather comports with a very grim reality even more ominous and real given the precarious state of the nation / world and the vulnerabilities of societies in light thereof. "Guantánamo Forever?" - Congress Passes $662 Billion Defense Bill, Aka The NDAACongress just passed the National Defense Authorization Act in a 283-to-136 vote. 190 Republicans and 93 Democrats voted for; 43 Republicans and 93 Democrats voted "against." Prepare to be arrested, without charge, simply because someone "up there" believes you engage in "terroristy" stuff. Good luck proving them wrong. ‘Indefinite Detention’ Bill Heads To Obama’s Desk As White House Drops Veto Threat Paul Joseph Watson | Establishment media and neo-cons still pretend NDAA doesn’t apply to American citizens. Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens. Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps. The Global War on Terror Is A 21st Century Witch Hunt Saman Mohammadi | According to the CIA and U.S. military leaders, there are less than 100 al-Qaeda terrorists in Afghanistan.

Time to give the Doc(s) a chance! A country Doctor sounds about what the nation needs in light of what ails it. That ‘lawyers are liars’ is almost tantamount in terms of reality to status as a proverb. Moreover, I’ve found they’re unable to count (an ability sorely wanting in Washington), and very vindictive when they’ve been shown (they’re adept at and love cover-ups) to be wrong or to have messed up (which is often) from my direct experience: Parker: Gingrich’s tone-deaf remarks on the poor  (Washington Post) [..sharpton?.. http://albertpeia.com/tawana.htm - I wrote this angry having just been mugged by 4 blacks/2 hispanics here in LA, along with the anti-white predisposition of blacks..Yet, in sharpton’s and partner mason’s ‘legal’ (illegal) heyday, I actually represented a black man, a walk-in/recently out of the army, whose unfortunate accident with his (owned) truck left him in arrears/default on his mortgage, which suit came before the late Honorable (among the few in jersey) U.S.D.C. Judge Sarokin (Rubin ‘Hurricane’ Carter case) upon my motion for failing to meet the amount in controversy, $75,000 –strictly construed, plaintiff midlantic bancorporation’s counsel miscounted and was off by less than $300. [ Some lawyers can’t count or do anything right: This is from a reply to the Congresswoman Roybal-Allard’s query ‘…As previously noted in a prior message to you, I had previously spoken to FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and who was to be out of the office for the two weeks past. I’ll be contacting him given a reasonable time for him to ‘catch up’, from being out of the office. While independent contractor richard coan (missed a filing date) is ultimately the one to bear the burden of damages (there’s insurance and a surety covering same), coan might allude to the prior default of the u.s. government (assist. u.s. atty. robert i. lester miscounted / miscalculated the time for filing an answer / response to the complaint upon service thereof, also misstating the rule in open court before corrupt judge matz who ‘schmoozed’ things over (they both have the same employer), however incorrectly according to the ‘law’. I ordered / bought a copy of the transcript of that rather pathetic proceeding (posted on my website)…regardless who pays me, the amounts so paid would ultimately be recovered from coan, his insurer/surety .. [.. a judgment (referenced in the correspondence to FBI ADIC Martinez infra) that had been entered in my favor in the case, USDC #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for ..; and then, of course as well, the substantial damages. ] ..should have been resolved in accordance with clear law long ago;  and, which would have been resolved if not for typical u.s. corruption in the process.. the government’s ability to resolve.. results do count! .. ] 

In state superior court, we opened, then on cross of their first ‘expert’ witness (regarding the amounts due), I moved to dismiss and strike the testimony for having failed and being unable to qualify said witness (owing to a very parochial and strict state rule of evidence in jersey – he had no other such witness for said purpose). The Honorable (among the few in jersey) Judge Weiss was inclined to rule accordingly, took us in chambers and strongly suggested opposing counsel call his client bank to sanction a favorable settlement to my client. The point is, I’m not a racist nor prejudiced. I am objective. I did ‘pay a big price’ for embarrassing the bank’s counsel; and, they made sure I knew it... so slimy is newt’s patronizing ‘showing up on Monday‘ remark that I’m constrained to ask, ‘is that what gingrich recently did for the $37 million from corporate “favor-seekers”?’. Or is it more likely he didn’t have to show up at all? The latter’s the reality.. the ‘mobster trump thing’ (corrupt sister maryanne trump barry, newly appointed,did corrupt a RICO action in which hundreds of thousands of illegal (drug) funds were being laundered through her brother’s casinos yet wouldn’t recuse herself despite my motion (http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm     ).



Call him irresponsible - call him unreliable
Throw in undependable too
Do his foolish alibis bore you
Well he’s not too clever – he just adores trumpish people we should boo

Call him unpredictable - tell him he’s impractical
Pots of gold at ends of rainbows he’s inclined to pursue
Call him irresponsible - yes newt’s unreliable
But it's undeniably true – newt’s irresponsibly mad for madman trump et als too

 

In N.H., Romney steps up attacks on Gingrich(Washington Post) [ Yeah … he’d better get going, ratchet up the rhetoric; after all, slimy newt’s just gotten the endorsement of ‘celebrity mobster madman’s (trump’s) apprentice’, ‘gary the b’ (for berserk) busey (most notable for his role in the film ‘Tomcats’ as the guy with only half a pair of b**ls!) (Drudgereport: Gary Busey Endorses Gingrich... ). Five myths about Ron Paul  (WP) [ For me, the litmus test for any candidate, though somewhat personalized, is generally applicable to the entire national electorate. It falls within that very broad category; viz., ‘been there, done that’. It is no mystery that the current wobama regime, et als are trying in every which way to censor, obstruct, and otherwise control the free-flow of information, particularly now the internet, which really works against failed administrations as that currently in place. By every measure you can gauge the success or failure of a presidency, wobama the b for b***s*** is an abject failure. There is not one reason based upon what he said he would do last time around, didn’t do, but as we now know had he done as he said the nation would have clearly been better off this day. He basically continued the policies of the prior failed presidency of war criminal dumbya bush, including the same or similarly connected players, despite having campaigned vociferously condemning same  (CIA lawyer says Obama administration backed and continued virtually all Bush-era programs Natural News ). Clinton was the luckiest of all recent presidents in having the benefit of the peace dividend to smooth things over, by way of the one and only but very significant accomplishment of Reagan / Gorbachev; yet, he found ways through deep-seated mental issues to fail, which we all endured as if watching a soap opera unfold. Incompetent george h.w. bush (‘poppy’) was basically the ‘cia in disguise’ which kept up the ops which included that snookering of then american proxy, sadam hussein, by u.s. ambassador april glaspie (see more here infra) (george h.w.bush was also ambassador to communist china and we all know how that’s turned out for america; but, ‘they’ and ‘theirs’ have made a bundle.. poppy and clinton were tied by ‘virtue’ of their cia / Mena, Arkansas cocaine drop / connection [ for me that connection was devastating to my RICO case which involved the laundering of drug money through the trump casinos in atlantic city,n.j., and poppy is after all, war criminal dumbya bush’s father ( see ie., http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm     , and, america also leads in the illegal drug trade, infra ) . .. calls for impeachment ..‘fast and furious debacle’.  Despite campaign promises, there have been no high level prosecutions of the wall street frauds which are still extant in the trillions. That ‘8%’ unemployment; don’t completely dismiss same as they may just have enough of their stand-ins to work exactly 1 day to be counted;that’s at best... as they’ve done, manipulate/fudge/outright lie about the numbers (actual unemployment is beyond 15%). Gingrich actually carved out exceptions for fraudulent wall street to the applicability of the RICO Act to their frauds, among many other unscrupulous acts which will emerge; along with having sought the endorsement of mobster, mental case trump.. romney follows suit with a trip to kiss the ring of failed president poppy bush while cow-towing as all but Paul to the israeli lobby. So I, as should be so for the entire nation, say results count. (For me, it’s resolution of those corrupted RICO matters). Reality counts. What’s gone before has failed;new direction, policies are required. After all, Einstein did say, paraphrasing, ‘doing the same thing over and over again and expecting a different result’ is insanity. Ron Paul’s still standing!

 

Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) [ So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    America’s shine is wearing off I know why we are falling into a cataclysm of debt and can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious freedom, freedom generally did they come to these shores. A rare exception to the influx of immigrants to this young nation who turned out to be more a virus to the indigenous peoples of this land than what could have been expected from those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those so positioned abroad would have represented a positive addition to the gene pool which, borrowing from an insurance term, viz., adverse selection, springs forth the notion of inevitability to the genocide of the indigenous populations while guaranteeing the decline we see throughout this foundering nation. The effects of these negative predispositions toward inherent criminality is certainly being felt globally as well as domestically and has little to recommend it. My own direct experience with the region(s) (particularly new jersey, new york, virginia, connecticut, california) carves out no exception for the prevalence of the worst of human nature; which is now collectively and pervasively americana.  Though having but 5% of the world’s population, the u.s. has 76% of the world’s serial killers,          http://www.albertpeia.com/realifeamericaserialkillers.mpg     bankrupt america also spends more on military than all the nations of the world combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are included in this evolved american trait of inherent criminality  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 

 

 

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!


 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Heres some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computers browser) as per your offices request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which Ive installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named 112208opocoan). The (civil) RICO action (as youre aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBIs LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did he served 12 years in prison, aggravated assault/manslaughter? and no, there is no Chinese wall of separation Andrew Maloneys the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their fix so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

 

 

 

 

GOOGLE SEARCH – ‘LARRY KLAYMAN, LOUIS FREEH CORRUPT’

ABOUT 6,240 RESULTS (0.11 SECONDS)

·  Trulock Sues FBI Director Freeh

archive.newsmax.com/articles/?a=2000/7/30/211047

Jul 31, 2000 – Judicial Watch is a public-interest law firm that fights corruption in government. To read Larry Klayman's letter to Louis Freeh, ...

·  Judicial Watch - Because no one is above the law!

www.judicialwatch.org/archive/newsletter/2003/0203b.shtml

... security," said JW Chairman Larry Klayman. "His behavior stands in stark contrast to Louis Freeh, a man so corrupt he destroyed the office he led, ...

·  Freedomwriter.com :: Headline News :: - America - JUDICIAL ...

www.freedomwriter.com/issue20/am15.htm

Louis Freeh will finally have to answer in court for what he did to our clients. ... answers,” stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  Infowars.com -- Talk Radio's Alex Jones v. the New World Order

www.infowars.com/jw_transcript.htm

Klayman, Larry, Chairman, Judicial Watch ... My name is Larry Klayman. ... interest group that investigates and prosecutes government corruption and abuse. ...... They seized his computer – these are FBI agents at the direction of Louis Freeh, ...

·  JUDICIAL WATCH REJOICES AT RESIGNATION OF FBI DIRECTOR LOUIS FREEH

www.judicialwatch.org/archive/2001/printer_921.shtml

May 3, 2001 – Because of his corrupt behavior, Freeh was placed on Judicial Watch's ... stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  The hazing of Judge Lamberth

www.wnd.com/index.php?pageId=5374

May 27, 2000 – By Larry Klayman ... While Judicial Watch has asked FBI Director Louis Freeh to .... lawsuits against a corrupt and unrepentant Clinton-Gore ...

·  Trulock, Conrad v. Freeh, et al, Employees of FBI

cryptome.org/trulock-v-fbi.htm

LOUIS J. FREEH, in his personal capacity; NEIL GALLAGHER, in his No. ... COUNSEL ARGUED: Larry E. Klayman, JUDICIAL WATCH, INC., Washing- ton, D.C. ...

 

 

America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA   ,  http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related  ,  http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related  ,  http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related  ,  http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related  ] , colluding with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html   ] to control the industry, and now openly protects and transports opium from Afghanistan  [  http://www.youtube.com/watch?v=ElEciFI0Pew  ] .  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [  http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world  ]  ; up 61% compared to 2010 to a whopping 5800 tons.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever. [ website archived links http://albertpeia.com/uscocainedistributionfiles.htm 

 

 

Iraq

from the book

The CIAs Greatest Hits

by Mark Zepezauer

 

‘The Gulf War of early 1991 didn't change much. Our old buddy, the despotic Emir of Kuwait, is back on his throne. Our former buddy, Saddam Hussein, while knocked down a peg or two, is still in power and as brutal as ever. Hundreds of thousands of Iraqis are dead, hundreds of US veterans are suffering from a mysterious disease, and the Persian Gulf has been ravaged by the largest oil spill in history. The question naturally arises, could any of this have been avoided?

The whole dispute started because Kuwait was slant-drilling. Using equipment bought from National Security Council chief Brent Scowcroft's old company, Kuwait was pumping out some $14-billion worth of oil from underneath Iraqi territory. Even the territory they were drilling from had originally been Iraq's. Slant-drilling is enough to get you shot in Texas, and it's certainly enough to start a war in the Mideast.

Even so, this dispute could have been negotiated. But it's hard to avoid a war when what you're actually doing is trying to provoke a war.

The most famous example of that is the meeting between Saddam and the US Ambassador to Iraq, April Glaspie, five days before Iraq invaded Kuwait. As CIA satellite photos showed an Iraqi invasion force massing on the Kuwaiti border, Glaspie told Hussein that "the US takes no position" on Iraq's dispute with Kuwait.

A few days later, during last-minute negotiations, Kuwait's foreign minister said: "We are not going to respond to [Iraq]....If they don't like it, let them occupy our territory....We are going to bring in the Americans." The US reportedly encouraged Kuwait's attitude.

Pitting the two countries against each other was nothing new. Back in 1989, CIA Director William Webster advised Kuwait's security chief to "take advantage of the deteriorating economic situation in Iraq to put pressure on Iraq.'' At the same time, a CIA-linked think tank was advising Saddam to put pressure on the Kuwaitis.

A month earlier, the Bush administration issued a secret directive that called for greater economic cooperation with Iraq. This ultimately resulted in billions of dollars of illegal arms sales to Saddam.

The Gulf War further destabilized the region and made Kuwait more dependent on us. US oil companies can now exert more control over oil prices (and thus boost their profits). The US military got an excuse to build more bases in the region (which Saudi Arabia, for one, didn't want) and the war also helped justify the "need" to continue exorbitant levels of military spending. Finally, it sent a message to Third World leaders about what they could expect if they dared to step out of line.’

 

http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  

 

 

 

Milbank: Candidates for sale (Washington Post) [ Mr. Milbank’s truly outdone himself this time. A known ‘wobama the b for b***s***’ aficionado/enthusiast/defender/apologist (pathetic in and of itself), Mr. Milbank forgets to first include the already bought failed president, none other than  ‘wobama the b for b***s***’ who did not do what he campaigned on doing precisely because he was bought. Wobama’s such a glomming golem / slug. Barack Obama: The Naked Emperor Shocking but true revelations from David Icke|  infra ‘...Obama is just more of the same, a big smile with strings attached, and controlled completely by those that chose him, trained him, sold him and provided his record funding, kept his many skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to be with your Presidential camp, who is alleged to claim that someone claiming to represent me called asking for $100,000, to keep me from coming forward about our (Obama and I) November 1999 encounter of sex and cocaine use?), ... Obama is just another Banksters' moll prostituting himself .., and that's why he supported the grotesque bail-out of the banking system and why he will always put their interests before the people. His financial advisors are straight from the Wall Street 'A' list, including Paul Adolph Volker (Trilateral Commission, Council on Foreign Relations, Bilderberg Group), the head of the Federal Reserve from 1979 to 1987 and Illuminati to his fingertips. Obama has made him head of the Economic Recovery Advisory Board, which is dominated by insiders, including its staff director and chief economist, Austan Goolsbee, a close Obama associate from the University of Chicago. Goolsbee is an initiate of the infamous Illuminati Skull and Bones Society at Yale University, which also includes Boy and Father Bush. It was Goolsbee who told the Canadian government not to worry about Obama's attacks on the economic effects of free trade agreements because his words were just to win votes in the election campaign. Another Wall Street insider, the Zionist Timothy Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign Relations), was appointed by Obama to be his Treasury Secretary. Geithner was the President of the New York Federal Reserve Bank, the most powerful in the private Federal Reserve cartel that masquerades as America's central bank, and he is a former employee of both the Council on Foreign Relations and the appalling Kissinger Associates. Obama's Treasury team locks into the inner circle around the Zionist Robert Rubin, the Director and Senior Counselor of Citigroup, co-chairman of the Council on Foreign Relations, and economic advisor to Obama. Rubin, a member of the Illuminati Bilderberg Group, was the man behind Citigroup's strategy of expanding its risk in debt markets which forced it to be rescued by taxpayers' money. The very people who caused the financial crisis are being appointed by Obama to decide how to respond to it (more taxpayers' money for them and their friends)’

 

THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

Barack Obama: The Naked Emperor Shocking but true revelations from David Icke (a must read) | ‘Vast numbers of people across the world, including many who should know better, have been duped by the mind-game called Operation Obama... (excerpts) Obama has been the chosen one for a long time, a fact known only to a few in the deep inner circle, and his relationship with Brzezinski almost certainly goes back to the start of the 1980s when he attended the Ivy League, and big-time Illuminati, Columbia University where Brzezinski was head of the Institute for Communist Affairs. Obama simply will not talk in any detail about this period. He has been covertly funded and supported ever since by the Trilateral Commission and its network of foundations connecting into the Ford Foundation, for whom Obama's mother worked. And a question: Does anyone really believe that someone, a 'man of the people', would simply appear from apparently nowhere to run the slickest and best-funded presidential campaign in American history? He was chosen long ago by those who wish to enslave the very people that Obama says he wants to 'set free'. The sources of Obama funding read like a Wall Street Who's Who - Goldman Sachs, UBS, Citigroup, Credit Suisse, Deutsche Bank, J.P. Morgan Chase, Morgan Stanley, and so on. No wonder he went back on his pledge to accept the limitations of public funding for his campaign and instead took the no-limit option of 'private fundingThen there is the Jewish financier, George Soros, the multi-billionaire associate of Brzezinski and closely involved with the funding and marketing of Obama. Soros is a former board member of the Illuminati's Council on Foreign Relations and funds the European Council on Foreign Relations. In short, he is a major insider' You can certainly see the Soros/Brzezinski techniques in the Obama 'revolution' in the United States. It was the complex and secretive network of Soros foundations and organisations, connected to the intelligence agencies of the US and Israel, that trained and funded students in the Ukraine, Georgia and elsewhere in the art of mass protest and overthrowing governments. These manufactured protests were sold to the world as peoples' revolutions, but it just so happened that when they were over and the old regime was removed the new leaders were those waiting in the wings all along - the puppets of Soros, Brzezinski and their associated networks. Obama is just more of the same, a big smile with strings attached, and controlled completely by the Illuminati networks that chose him, trained him, sold him and provided his record funding. It was they who kept his many skeletons under wraps, like the gay sex and crack cocaine allegations of Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to be with your Presidential camp, who is alleged to claim that someone claiming to represent me called asking for $100,000, to keep me from coming forward about our (Obama and I) November 1999 encounter of sex and cocaine use?), and they will continue to do so as long as he jumps to their bidding. Obama is just another Banksters' moll prostituting himself for fame and power, and that's why he supported the grotesque bail-out of the banking system and why he will always put their interests before the people. His financial advisors are straight from the Wall Street 'A' list, including Paul Adolph Volker (Trilateral Commission, Council on Foreign Relations, Bilderberg Group), the head of the Federal Reserve from 1979 to 1987 and Illuminati to his fingertips. Obama has made him head of the Economic Recovery Advisory Board, which is dominated by insiders, including its staff director and chief economist, Austan Goolsbee, a close Obama associate from the University of Chicago. Goolsbee is an initiate of the infamous Illuminati Skull and Bones Society at Yale University, which also includes Boy and Father Bush. It was Goolsbee who told the Canadian government not to worry about Obama's attacks on the economic effects of free trade agreements because his words were just to win votes in the election campaign. Another Wall Street insider, the Zionist Timothy Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign Relations), was appointed by Obama to be his Treasury Secretary. Geithner was the President of the New York Federal Reserve Bank, the most powerful in the private Federal Reserve cartel that masquerades as America's central bank, and he is a former employee of both the Council on Foreign Relations and the appalling Kissinger Associates. Obama's Treasury team locks into the inner circle around the Zionist Robert Rubin, the Director and Senior Counselor of Citigroup, co-chairman of the Council on Foreign Relations, and economic advisor to Obama. Rubin, a member of the Illuminati Bilderberg Group, was the man behind Citigroup's strategy of expanding its risk in debt markets which forced it to be rescued by taxpayers' money. The very people who caused the financial crisis are being appointed by Obama to decide how to respond to it (more taxpayers' money for them and their friends)’

http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  

BOOK WARNS OF END... BOOK WARNS OF END
Fri Oct 14 2011 07:00:25 ET

**Exclusive**

"As the faith that gave birth to the West is dying in the West, peoples of European descent from the steppes of Russia to the coast of California have begun to die out, as the Third World treks north to claim the estate. The last decade provided corroborating if not conclusive proof that we are in the Indian Summer of our civilization."

So begins Pat Buchanan in his hardcore work, SUICIDE OF A SUPERPOWER.

"Will America Survive to 2025?"

Buchanan, set for maximum controversy, launches all rockets at introduction "Disintegrating Nation" -- and does not let up for 400-plus pages.

"America is disintegrating. The centrifugal forces pulling us apart are growing inexorably. What unites us is dissolving. And this is true of Western Civilization....Meanwhile, the state is failing in its most fundamental duties. It is no longer able to defend our borders, balance our budgets, or win our wars."

The books reads as if its been written to be left behind in the ruins, only to be found by a future civilization.

SUICIDE ranked #2,668 on AMAZON's hit parade early Friday. It streets on Tuesday.

Now only the DRUDGE REPORT can offer a look inside.



Chapter 1: The Passing of a Superpower

“We have accepted today the existence in perpetuity of a permanent underclass of scores of millions who cannot cope and must be carried by society -- fed, clothed, housed, tutored, medicated at taxpayer’s expense their entire lives. We have a dependent nation the size of Spain in our independent America. We have a new division in our country, those who pay a double or triple fare, and those who ride forever free.”

Chapter 2. The End of Christian America

If [Christopher] Dawson is correct, the drive to de-Christianize America, to purge Christianity from the public square, public schools and public life, will prove culturally and socially suicidal for the nation.

“The last consequence of a dying Christianity is a dying people. Not one post-Christian nation has a birth rate sufficient to keep it alive....The death of European Christianity means the disappearance of the European tribe, a prospect visible in the demographic statistics of every Western nation.”

Chapter 3. The Crisis of Catholicism

“Half a century on, the disaster is manifest. The robust and confident Church of 1958 no longer exists. Catholic colleges and universities remain Catholic in name only. Parochial schools and high schools are closing as rapidly as they opened in the 1950s. The numbers of nuns, priests and seminarians have fallen dramatically. Mass attendance is a third of what it was. From the former Speaker of the House to the Vice President, Catholic politicians openly support abortion on demand.”

“How can Notre Dame credibly teach that all innocent life is sacred, and then honor a president committed to ensuring that a woman’s right to end the life of her innocent child remains sacrosanct?”

Chapter 4. The End of White America

“[W]hite America is an endangered species. By 2020, whites over 65 will out-number those 17 and under. Deaths will exceed births. The white population will begin to shrink and, should present birth rates persist, slowly disappear.”

Mexico is moving north. Ethnically, linguistically and culturally, the verdict of 1848 is being over-turned. Will this Mexican nation within a nation advance the goals of the Constitution -- to “insure domestic tranquility” and ‘make us a more perfect union’? Or have we imperiled our union?” (Page 134)

Chapter 5. Demographic Winter

“Peoples of European descent are not only in a relative but a real decline. They are aging, dying, disappearing. This is the existential crisis of the West.” (Page 166)

“Not any Iranian weapon of mass destruction but demography is the existential crisis Israel faces....By mid-century...Palestinians west of the Jordan river will out-number Jews 2-1. Add Palestinians in Jordan, it is 3-1.”

“In a startling development of history, Russia’s population has fallen from 148 million in 1991 to 140 million today and is projected to plunge to 116 million by 2050, a loss of 32 million Russians in six decades.”

Chapter 6. Equality Vs. Freedom

“Those who would change society begin by changing the meaning of words. At Howard University, LBJ changed the meaning of equality from the attainable -- an end to segregation and a legislated equality of rights for African-Americans -- to the impossible: a socialist utopia.”

“Where equality is enthroned, freedom is extinguished. The rise of the egalitarian society means the death of the free society.”

“A time for truth. As most kids do not have the athletic ability to play high school sports, or the musical ability to play in the band, or the verbal ability to excel in debate, not every child has the academic ability to do high school work. No two children are created equal, not even identical twins. The family is the incubator of inequality and God its author.”

Chapter 7. The Diversity Cult

“The non-Europeanization of America is heartening news of an almost transcendental quality,” Wattenberg trilled.4 Yet, one wonders: What kind of man looks with transcendental joy to a day when the people among whom he was raised have become a minority in a nation where the majority rules?”

“Historians will look back in stupor at 20th and 21st century Americans who believed the magnificent republic they inherited would be enriched by bringing in scores of millions from the failed states of the Third World.”

Chapter 8: The Triumph Of Tribalism

America’s war of revenge against Japan was a race war. Newsreels, movies, magazines, comic books, headlines treated “Japs” as a repulsive race whose extermination would benefit mankind....Only well after the war was over was it re-branded a war to bring the blessings of democracy to...Japan.

We may deny the existence of ethnonationalism, detest it, condemn it. But this creator and destroyer of empires and nations is a force infinitely more powerful than globalism, for it engages the heart. Men will die for it. Religion, race, culture and tribe are the four horsemen of the coming apocalypse.

Chapter 9. ‘The White Party’

“Through its support of mass immigration, its paralysis in power to prevent 12-20 million illegal aliens from entering and staying, its failure to address the “anchor-baby” issue, the Republican Party has birthed a new electorate that will send it the way of the Whigs.”

Chapter 10: The Long Retreat

“We borrow from Europe to defend Europe. We borrow from the Gulf states to defend the Gulf states. We borrow from Japan to defend Japan. Is it not a symptom of senility to be borrowing from the world so we can defend the world?”

“Are vital U.S. interests more imperiled by what happens in Iraq where were have 50,000 troops, or Afghanistan where we have 100,000, or South Korea where we have 28,000 -- or by what is happening on our border with Mexico?...What does it profit America if we save Anbar and lose Arizona?” …’

 

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!


 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Heres some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computers browser) as per your offices request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which Ive installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named 112208opocoan). The (civil) RICO action (as youre aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBIs LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did he served 12 years in prison, aggravated assault/manslaughter? and no, there is no Chinese wall of separation Andrew Maloneys the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their fix so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite 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 / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holders vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION
  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 


http://www.albertpeia.com 

 

 

 

Sincerely and Regards,

 

Al Peia

 

 

 

 

 

The Washington Post

 

[email protected] , [email protected] ,  [email protected] , [email protected] , [email protected] , [email protected] , [email protected] , [email protected] , [email protected]

 

 

Dear Sirs / Madams:

 

If this were any other topic I would not trouble you. Yet, the comment concerning SOPA; and hence, censorship, failed to post in each of the seven or so articles I attempted to post to despite being within the 3000 word constraint. Moreover, my other comments this day posted without a hitch. What’s more disconcerting is that from a brief perusal, the prominent articles displayed seem to favor the legislation which I believe as does EFF to be dangerous at best and disastrous at worst. I believe the EFF’s position and concerns to be genuine. Quite simply, from direct experience, the u.s. government cannot be trusted to do the right thing and their reflexive inclination is to cover up what is not (I think you remember Watergate, etc.). That’s neither alarmist nor exaggeration; but rather, reality, and I have and there is a plethora of factual documentation to back that up!

 

Please advise and / or rectify.

 

 

Thank you.

 

 

Signed: Albert L. Peia           Dated: 11-18-11

 

 

The comment / post:

 

 

Anybody who does not oppose any government’s attempt to censor and worse as in this bill is a complete and utter fool. Among the few positives america has been able to point to relative to, ie., china, etc., such freedom if curtailed will herald a hastening of the demise of this nation as we knew it; even worse than the dismal future portended as a direct consequence of those who favor this regression. After all, what is ‘democracy’ without such free speech rights as guaranteed by the Bill of Rights and envisioned by the founders of this nation.

 

I am deeply concerned by the danger these bills pose to Internet security,free speech online,and innovation. The Internet Blacklist Legislation is dangerous/short-sighted, and I urge you to join Senator Wyden and other members of Congress,such as Representatives Lofgren, Eshoo and Issa, in opposing it.

The Internet Blacklist Legislation - known as PROTECT IP Act in the Senate and StopOnlinePiracyAct(SOPA) in the House-is a threatening sequel to last year's COICA Internet censorship bill.  Like its predecessor, this legislation invites Internet security risks, threatens online speech, and hampers Internet innovation. Urge your members of Congress to reject this Internet blacklist campaign in both its forms!

Big media and its allies in Congress are billing the Internet Blacklist Legislation as a new way to prevent online infringement. But innovation and free speech advocates know that this initiative is nothing more than a dangerous wish list that will compromise Internet security while doing little or nothing to encourage creative expression.

As drafted, the legislation would grant the government and private parties unprecedented power to interfere with the Internet's domain name system (DNS). The government would be able to force ISPs&search engines to redirect or dump users' attempts to reach certain websites' URLs. In response, third parties will woo average users to alternative servers that offer access to the entire Internet (not just the newly censored U.S. version), which will create new computer security vulnerabilities as the reliability and universality of the DNS evaporates.

It gets worse: Under SOPA's provisions, service providers (including hosting services) would be under new pressure to monitor and police their users activities.  While PROTECT-IP targeted sites dedicated to infringing activities, SOPA targets websites that simply dont do enough to track and police infringement (it is not at all clear what would be enough).It creates new powers to shut down folks who provide tools to help users get access to the Internet the rest of the world sees (not just theU.S. authorized version). 

Senator Ron Wyden (D-OR) has placed a hold on the Senate version, taking a principled stand against a very dangerous bill. Every Senator/Rep should be opposing the PROTECT IP Act and SOPA. https://www.eff.org

 

 

http://www.albertpeia.com/todayspage.htm
http://albertpeia.com/fbimartinezcongallard.htm  

 

 

 

Ex-Penn State coach Sandusky jailed on new child sex abuse charges based on 2 new  (Washington Post) [ I glad to see more victims of this ‘self-promoted, self-created, self-styled, frolicking, fun-loving man-child’ come forward. It’s difficult to imagine much less discuss sandusky’s unmistakably heinous, sordid and disgusting activities which also bespeak abuse of power / position and breach of trust. Yet, aren’t these latter despicable characteristics now inextricably entwined with what is now fundamentally an evolved inherent american trait / character flaw that has persisted and grown through a corruption of all processes / values and sheer lack of courage? 

Penn States McQueary is shaken  EARLY LEAD | In e-mails, assistant who allegedly witnessed attack by Sandusky says, I did the right thing  (Washington Post) [ But not stirred, as in giving sandusky a well-deserved punch in the jaw. He did, however, do the right thing and within the law. After all, given the penchant for ‘cornholers’ in or around the penn state campus (ie., from no bail from a ‘connected judge’, to descriptions of this ‘frolicking man-child’, to a calmly protested innocence by psychopath pedophile sandusky, and even a quote from a loco local that sandusky was like a god, etc.), one could easily imagine McQreary going straight to jail with unrelenting attacks on his credibility to follow. Whew … all we can wonder is, ‘do they get out much’? Indeed, just to understand this penn state area mindset I’m going have to take another look at that well-done movie (and book of the same name by Dickey …whoops), ‘Deliverance’. I mean, a 10-11 year old boy anally raped by this serial psychopath and you just know by looking at sandusky there’s been not even a moment of remorse other than possibly for finally getting caught, if that. How many others? At least 10 more at this point. How can a boy ever get over this regardless of the extent of therapy? Life in prison is too good for sandusky. Sandusky says he's innocent TV COLUMN | Former Penn State defensive coordinator says in an interview that he is innocent of sex abuse charges. (Washington Post) [ There was actually an eyewitness to the rape of the boy; horsin’ around in the shower … like obscenity as per the supreme court of old, I think most anyone ‘knows it when they see it’ and that includes rape as opposed to ‘horsin around with young boys in the shower’. How pathetic! Watch for the cover-up!  Drudgereport: Penn State coach says he stopped shower assault... ‘…McQueary was placed on administrative leave last week after Penn State officials said he had received threats. According to the grand jury report, the graduate assistant said HE SAW A BOY, WHOSE AGE HE ESTIMATED AT 10 YEARS OLD, "BEING SUBJECTED TO ANAL INTERCOURSE" BY A NAKED SANDUSKY IN A SHOWER AT THE PENN STATE FOOTBALL BUILDING IN MARCH 2002 ( according to u.s. forum posts sandusky is a polish jew whose mothers maiden name is fittingly gross www.topix.com/forum/us/TM9KO1A74D6VPVFS7 - doesn’t he somewhat look like netanayhu?  ). The graduate assistant left "immediately," was "distraught" and called his father, according to the presentment. His father told him to leave the building and come to his home, according to the presentment.In the email obtained by The Morning Call, dated Nov. 8, McQueary said "I did stop it, not physically, but made sure it was stopped when I left that locker room.""No one can imagine my thoughts or wants to be in my shoes for those 30-45 seconds," McQueary wrote. "Trust me."Asked about McQueary's statement in the email that he had discussions with police, Penn State police told The Morning Call they were deferring to the university public relations office, which did not return a call Tuesday afternoon. Pennsylvania State Police in Harrisburg, which is heading the investigation, did not return a call.McQueary has not spoken publicly and declined to be interviewed by The Morning Call…’    Ombudsman: Too much opinion in coverage (Washington Post) [ In truth, I was disinclined to comment on this rather sordid and disgusting story; not only because its a sordid and disgusting story, but because it involves one actual perpetrator. After all, if theres one thing for which americas infamously famous for being number 1 at (beyond that history-of-the-world record breaking fiscal gap of $211 trillion - 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 ) its americas number 1 position by far in terms of crime (CRIME STATS(u.s.No.1) (from a few years back … worse now, and those were just the ‘reported crimes’, actual crimes far greater)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

and so on. ). Yet, when I heard that the one fellow who observed the rape seemed to getting a ‘pass’ for reporting the incident, I felt compelled to comment (as a permanent record on my website). I’ve only followed in a cursory manner the news coverage. I disagree with ‘the ombudsman’ that there’s ‘too much opinion’ in the coverage. There should be plenty of opinion, and they should express well-founded outrage concerning this egregious scenario. Indeed, that the initial, let me disparage him by calling him ‘voyeur’ didn’t right then and there confront the mentally ill pervert / homosexual / pedophile rapist and then report it is beyond my ability to imagine. I couldn’t have restrained myself. When the new president (?) of the university said on the news that no one should ever fear doing the right thing, my only reaction was that he was talking of another place, another time if ever in america. That certainly is not the case in america today where crime / complicit silence / cover-up pays and pays well. In reality, there were salaries, positions,  and roughly $50 million + (in revenue per year) reasons for silence. I have personally found that almost without exception, americans are without any courage or integrity whatsoever (see infra, which also references crimes of none other than a supreme court justice alito who should resign, among many others deserving punishment / exposure, etc., instances too numerous to include here). People should be angry inasmuch as that kid’s life will never be the same. Actions have consequences. Unfortunately, in pervasively corrupt, defacto bankrupt, meaningfully lawless america, those impacts/consequences are invariably negative. There’s just no excuse for what america’s become! 

 

Penn State taps former FBI director Louis Freeh in child sex-abuse investigation ...PHILADELPHIA — Former FBI director Louis Freeh, tapped to lead Penn State’s...jury report issued earlier...2011-11-22 - Associated Press, AP (Washington Post) [ Oh yeah … they got the right guy for cover-ups, not that his successor mueller seems any better. Freeh will always cover up u.s. government crime … always … he rationalizes same as if a patriotic duty. Indeed, from jersey city, hudson county, new jersey, among the most corrupt in the nation by any standard, one mob or another, (and the armpit of the earth if you’ve ever been there) he’s consistently talked up his jersey roots as if a badge of honor. The contrary is the truth. ‘Louie the patriot’s’ vote of confidence in the u.s. and then some…- "Louis Freeh acquires Italian citizenship".- They had him pegged … the ultimate go along to get along! His new rationalization for being a fee-paid-schmoozer is probably his large family to support (8? kids). He was a plodding, untalented guy, and as untalented a crime-fighter which invariably as a matter of necessity leads to a career-bureaucrat status (one way or another) that doesn’t and hasn’t required real results (only that which can be schmoozed); but has required cover-ups particularly along (republican) party lines, ie., trump, alito, he backed giuliani, etc.. http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf      Wall street frauds and protection (exemption from RICO) grew during ‘freeh the bushman’s’ tenure (with reno / clinton –Mena, Arkansas cocaine drop/connection) as did the transfers of just about everything to communist china. America’s direct involvement in the illegal drug business was about all that can characterize his otherwise unremarkable FBI career (‘pizza connection case’) as protection was accorded the u.s. government’s illegal activity and competitors removed. World’s Largest Drug Dealer: The american empire is the largest drug dealer in the world!  Say it isn’t so. Well, in addition to forcing legal drugs and genetically modified organisms on nations, usually under the cover of foreign aid, America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA   ,  http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related  ,  http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related  ,  http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related  ,  http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related  ] , colluding with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html   ] to control the industry, and now openly protects and transports opium from Afghanistan  [  http://www.youtube.com/watch?v=ElEciFI0Pew  ] .  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [  http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world  ]  ; up 61% compared to 2010 to a whopping 5800 tons.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever. [ website archived links http://albertpeia.com/uscocainedistributionfiles.htm  ]   

 

Will Freeh bungle Penn State child-sex abuse investigation too? [ Only accidently on purpose! In louis freeh’s quid pro quo bureaucratic world, true results DON’T COUNT! ] http://www.reddirtreport.com/Story.aspx/20474  By Andrew Griffin OKLAHOMA CITY More than two weeks after the public began to learn of the child-sex abuse allegations against former Penn State assistant football coach Jerry Sandusky, we learn that former FBI Director Louis Freeh, now in the private sector, has been hired to uncover the truth about horrific child-sex abuse crimes in State College, Pennsylvania.

Freeh, you may recall, served as FBI director during the Clinton administration and was in that leadership spot during the 1995 Alfred P. Murrah building bombing. Now that Freeh has been tapped to lead Penn States investigation into the child-sex abuse allegations against Sandusky, and perhaps others, with information allegedly stretching back to 1975, Red Dirt Report wonders if Penn State really wants this crime to be solved and their questions to be answered.

As reported today, Freeh said: I will personally lead that investigation. The special committee has hired my law firm to conduct a fair and independent investigation. 

Good luck getting to the truth, Penn State. Given Freehs lousy reputation as a crimefighter and not surprisingly, former Pennsylvania Attorney General and current Gov. Tom Corbett gives Freeh a big thumbs up you would think Penn State would stay far, far away from Freeh, unless Freeh is expected to bungle, cover up and obfuscate while pretending to expose the crimes against children there in the Keystone State. We hope he is there to do the right thing by those victimized by Sandusky and others.

People at Penn State also known as Happy Valley have known about Sanduskys crimes and have covered for him and ousted, godlike Coach Joe Paterno. Note this article in the Beaver County Times which, back in April, was shouting from the rooftops about Sandusky and note that But theres no shortage of stories and rumors about Penn State football sweeping problems under the rug.

Freeh, we must note, is an interesting and controversial choice. Yes, controversy seemed to stick to Freeh like crazy glue throughout the 1990s. First, there was Freehs coverup of the 1992 Ruby Ridge travesty. Another big one involved the fallout from Waco, which spilled over into Freehs tenure, another botched event and subsequent cover-up. Freeh has a lot to answer for.

While Freeh is viewed as incompetent, he and his underlings were effective in covering up and/or ignoring major crimes and controversies over the years that he was charged to protect the American people. As Charles R. Smith wrote of Freeh at Newsmax.com in 2002: FBI Director Louis Freeh oversaw the longest run of FBI public disasters in its entire history with Freeh transforming the FBI from a federal law enforcement agency into a political joke.

Think about it. Freeh was in charge during the 500 missing FBI files incident, the Unabomber case, the Wen Ho Lee/Los Alamos files espionage case, the Montana Freemen showdown, the shoot down of TWA Flight 800  in 1996 and so on. Do you feel you have more answers or fewer answers on those incidents and tragedies? Think about it.

Oh, and did you know Freeh was appointed FBI director in July 1993, the day before Vincent Fosters body was found in Fort Marcy Park?, The prior director, William Sessions, was ousted by Attorney General Janet Reno in the wake of the Waco disaster a disaster Freeh would fail to fully investigate, according to reports.

In a September 2000 article in Business Week, writer Howard Gleckman, in a piece titled The Case Against Louis Freeh, the article absolutely blasts the director, who was still in charge at that time.

Writes Gleckman: The man (Freeh) has overseen a bureau that has bungled investigations of high-profile criminal cases and repeatedly misled probers and judges in legal proceedings never more shamelessly than in the matter of Los Alamos scientist Wen Ho Lee. At the same time, Freehs FBI has tried to run roughshod over the civil liberties of ordinary citizens, demanding access to encryption codes and elbowing its way onto every PC in the country through its Carnivore project.

Remember, that was written 11 years ago and one year before 9/11.

And for those of us here in Oklahoma City, still healing from the effects of the bombing more than 16 years later, to learn that former FBI Director Freeh is leading an investigation into a major crime which may involve connections to many other people, well, dont hold your breath folks. He had an opportunity to do the right thing by the victims of the bombing and he opted not to do the right thing and bring the real criminals to justice.

In fact, the idea that Freeh will uncover anything of substance good luck, Penn State scandal truthseekers is an absolute joke. For instance, Freeh was exposed as knowing a lot more about the details of who was involved in the bombing, far beyond Timothy McVeigh. Be sure to check out the upcoming release of Free Mind Films explosive documentary, A Noble Lie.

As exposed by the late J.D. Cash, an investigative reporter with the McCurtain Daily Gazette, Freeh and the FBI allegedly knew of a bomb plot and the activities of German intelligence contact and Neo-Nazi infiltrator Andreas Strassmeir at Elohim City in Adair County, Oklahoma. And what of Larry Potts, a leading FBI investigator? Freeh made sure Potts, his number two guy, rose in the ranks, yet what does Freeh think about accusations made against Potts, a villain linked to numerous botched cases? This includes comments by the late Timothy McVeigh, executed for his role in the bombing, who said Potts involved in Ruby Ridge and Waco knew him well and was forcing the former soldier-turned-radical to go off script and that McVeighs accomplice, Terry Nichols, said the bombing was an FBI op, as noted by a hard-hitting 2007 article in Utahs Deseret News.

As for Andy the German Strassmeir, much of his role in the FBI op was revealed in a January 1996 memo Freeh sent out to senior FBI field agents which noted the Southern Poverty Law Center/FBI joint sting operation at Elohim City, Okla. was being handled in the days prior to the bombing.

As Cash reported, while Freehs FBI put up border guards on the Mexican border to pick up Strassmeir for questioning in regards to his links to Elohim City and McVeigh, Strassmeir managed to slip through their fingers. The teletype, obtained via an FOIA request, was heavily redacted but reveals that FBI Director Freeh knew a lot more about the Oklahoma City bombing case than the public was led to believe. Why did Freeh allow Strassmeir to flee the U.S. and go back to Germany without being questioned about his role in the lead-up to the Oklahoma City bombing, the biggest domestic terror attack up to that time in history? Wouldnt Strassmeirs knowledge of McVeigh and others unknown have been useful to the federal investigation into the April 19, 1995 bombing here in Oklahoma City that killed 168 and wounded many others?

As Cash wrote, in a piece posted in 2005 at WorldNetDaily.com: The Freeh teletype also discusses an allegedly close relationship McVeigh had with a subject living at Elohim City, a person who, the teletype says, spoke with McVeigh only two days before the bombing.

Continuing, Cash, and co-writer Roger Charles note: That information, Freeh said, was from an informant who was working for the Southern Poverty Law Center a tax-exempt civil rights group co-founded by Morris Dees.

It was Freehs FBI that gathered up all the videotapes after the Oklahoma City bombing. Where are those tapes now, Mr. Freeh?

The FBI crime labs under Freeh were accused by an FBI whistleblower that evidence in OKBOMB had been tainted. And Freeh punished him, sending a chilling message to other potential whistleblowers. And yet Penn State, certainly knowing Freehs background and history, wants him to do an independent investigation into this serious case at Penn State, which some have reported may include Sanduskys involvement in pimping out children to wealthy Penn State donors?

Freehs predecessor, William S. Sessions, was FBI director when Ruby Ridge and Waco happened and was in charge when accusations arose against powerful people and institutions in the late 1980s and early 1990s regarding pedophile rings leading up to the top rungs of American political power, something some independent researchers claim goes on to this day. The 2005 Gannon-gate episode, as noted by reporter Wayne Madsen, was reminiscent of the 1989 pedophile and prostitution scandal linked to the Franklin Community Credit Union in Omaha, Nebraska. And interestingly, that scandal seems reminiscent of what we are seeing unfold at Penn State, if the allegations of Sandusky pimping kids out to wealthy school donors are indeed true, as reported by sports journalist Mark Madden.

The FBI seems to be more interested in crisis management and cover up than in actually solving serious crimes, as we have seen time and again.

When Red Dirt Report first learned that Freeh was hired by Penn State to investigate the Sandusky child-sex abuse case as an independent investigator, we thought about some of our sources who are still upset with Freeh for allegedly covering up so many aspects of what happened prior, during and after the Oklahoma City bombing. This includes the murders of Oklahoma City Police Officer Terry Yeakey and prisoner Kenneth Trentadue, killed while in federal custody in the wake of the OKC bombing, in what his brother Jesse Trentadue believes was a case of mistaken identity.That happened on Freeh and Renos watch.

Red Dirt Report is very skeptical of Freeh and whether or not he will really find out anything of consequence and if he does, be on the alert that if it involves very powerful and influential people.

Think about it. It was at the end of his tenure that Freeh, a devout Roman Catholic and rumored to be linked with the shadowy Opus Dei organization, dramatized in Dan Browns Catholic Church-linked conspiracy thriller The DaVinci Code, was revealed as actually attending the same church as devoted Opus Dei Catholic and FBI agent-turned-spy Robert Hanssen. Freeh notes in his bio My FBI: Bringing Down the Mafia, Investigating Bill Clinton and Fighting the War on Terror, that he didnt know that Hanssen, a fellow parishioner at St. Catherine of Siena Church in Great Falls, Va., was up to no good and selling us out to the Russians and earning Hanssen the infamous name the most damaging spy in history. Somehow, the big ones tend to get by Freeh. Hmmm.

Interestingly, exactly six months prior to the terror attacks of 9/11/01, some pamphleteers critical of Freeh and his cover up of the 1993 holocaust of Branch Davidians near Waco, Texas appeared outside his church. While the critics of Freeh and his FBI were angrily driven off the church property by the priest, the somewhat rambling pamphlet notes accuses Freeh of being a conspirator in the murder of the Branch Davidians, an accessory after the fact.

Perhaps Louis Freeh has learned a lot since those crazy days of the 1990s. Perhaps he has had time to reflect on his career and the crimes he was charged with investigating, on behalf of the American people.

But were not sure, given his awful record in tracking down the real criminals in numerous high-profile cases. As one person who lost  several family members in the Oklahoma City bombing told us this afternoon of Freeh and his new assignment at Penn State, (Freeh) screwed up here and hes going to screw up there. There arent many fans of Freeh back here in Oklahoma. We hope folks in Pennsylvania take that into account as their independent investigation is launched.

For the sake of the victims at Penn State and those who are extraordinarily upset and outraged about what took place there for many, many years, we truly hope Louis Freeh uncovers the truth and that the despicable Jerry Sandusky and others are ultimately brought to justice.’

 

 

GOOGLE SEARCH – ‘LARRY KLAYMAN, LOUIS FREEH CORRUPT’

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·  Trulock Sues FBI Director Freeh

archive.newsmax.com/articles/?a=2000/7/30/211047

Jul 31, 2000 – Judicial Watch is a public-interest law firm that fights corruption in government. To read Larry Klayman's letter to Louis Freeh, ...

·  Judicial Watch - Because no one is above the law!

www.judicialwatch.org/archive/newsletter/2003/0203b.shtml

... security," said JW Chairman Larry Klayman. "His behavior stands in stark contrast to Louis Freeh, a man so corrupt he destroyed the office he led, ...

·  Freedomwriter.com :: Headline News :: - America - JUDICIAL ...

www.freedomwriter.com/issue20/am15.htm

Louis Freeh will finally have to answer in court for what he did to our clients. ... answers,” stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  Infowars.com -- Talk Radio's Alex Jones v. the New World Order

www.infowars.com/jw_transcript.htm

Klayman, Larry, Chairman, Judicial Watch ... My name is Larry Klayman. ... interest group that investigates and prosecutes government corruption and abuse. ...... They seized his computer – these are FBI agents at the direction of Louis Freeh, ...

·  JUDICIAL WATCH REJOICES AT RESIGNATION OF FBI DIRECTOR LOUIS FREEH

www.judicialwatch.org/archive/2001/printer_921.shtml

May 3, 2001 – Because of his corrupt behavior, Freeh was placed on Judicial Watch's ... stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  The hazing of Judge Lamberth

www.wnd.com/index.php?pageId=5374

May 27, 2000 – By Larry Klayman ... While Judicial Watch has asked FBI Director Louis Freeh to .... lawsuits against a corrupt and unrepentant Clinton-Gore ...

·  Trulock, Conrad v. Freeh, et al, Employees of FBI

cryptome.org/trulock-v-fbi.htm

LOUIS J. FREEH, in his personal capacity; NEIL GALLAGHER, in his No. ... COUNSEL ARGUED: Larry E. Klayman, JUDICIAL WATCH, INC., Washing- ton, D.C. ...

Donald Trump Dismisses Ron Paul as “Joke Candidate” Kurt Nimmo | Millions of Americans support Paul’s call for ending foreign aid. [ Yet it’s trump who is the big joke (which makes america look like a bigger joke)! He’s a caricature at best, and the joke that keeps on giving (SNL, etc.), and a government-protected mobster (worried he’ll lose his ‘protected’ status under a legitimate administration). ‘When they’re losing, they can afford to be principled’ says corrupt mobster trump regarding the snubbing of his ‘less than moderation’ of an upcoming debate in Iowa by the remaining principled GOP contenders. In reality, it’s actually ‘when you’re winning, you can afford to be principled’. But, in trump’s corrupt, sordid, sinkhole habitat, the former is indeed his truth. If you’re principled, you’re losing in trump’s rather surreal unreality. After all, pervasively corrupt and unprincipled america is indeed losing; and, big-time at that. That trump is a megalomaniac, a narcissist, and, yes … a loser, there is no question. Indeed, anyone who ‘wins’ unfairly (corruption, etc.) at others expense (ie., as does himself, the frauds on wall street, etc.) is a loser. Unfortunately, such modus operandi, including that which is criminal, has been accorded protection and respect in defacto bankrupt america, much like the ‘protected’ (bribes, etc.) common drug dealer (america, see infra), pimp, etc.. Then there’s the endearing (to a dumbed down american public) hype! That cloyingly cutesy ‘the donald’ routine is nauseating; but, that’s the natural, visible concomitant to a nation in ineluctable decline! On a positive note, megalomaniac trump will not be able to retread the path of his role model / idol Adolf Hitler as head of state. He’s really quite a joke when you think about it; and a mentally ill one at that; ask Steve Wynn, he’ll tell you, he’s already said it.

 

‘Pizza with palin’, ‘town hall of fame with Bachmann’, trump purports to be at least ‘alcohol free’ (the alleged cause – I don’t think so – of mobster trump’s elder brother’s suicide); but is he ‘med-free’? … there must be something to account for his madness (he’s a psychopath who used to play Hitler speeches for inspiration). Ron Paul Slams Trump, Joins Huntsman In Sitting Out ‘Circus-Like’ Debate Business Insider | The reality television star’s participation is “beneath the office of the Presidency.”

 

The Fix : 2012 Republicans kiss Trump's ring  2012 Republicans are kissing Donald Trumps ring. But why? Aaron Blake (Washington Post) [ Why indeed! Yet, it would be amazing if only it wasnt a testament to americas unmistakable, ineluctable decline and fall by virtually every criterion by which a nation/state is measured. My direct personal experience, with extremely few exceptions,  is that theres very little difference between the u.s. government and organized crime. Thats reality, not hopium!   

(  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog  )  (America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA   ,  http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related  ,  http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related  ,  http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related  ,  http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related  ] , colluding with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html   ] to control the industry, and now openly protects and transports opium from Afghanistan  [  http://www.youtube.com/watch?v=ElEciFI0Pew  ] .  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [  http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world  ]  ; up 61% compared to 2010 to a whopping 5800 tons.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever. [ website archived links http://albertpeia.com/uscocainedistributionfiles.htm  ) ‘When they’re losing, they can afford to be principled’ says corrupt mobster trump regarding the snubbing of his ‘less than moderation’ of an upcoming debate in Iowa by the remaining principled GOP contenders. In reality, it’s actually ‘when you’re winning, you can afford to be principled’. But, in trump’s corrupt, sordid, sinkhole habitat, the former is indeed his truth. If you’re principled, you’re losing in trump’s rather surreal unreality. After all, pervasively corrupt and unprincipled america is indeed losing; and, big-time at that. That trump is a megalomaniac, a narcissist, and, yes … a loser, there is no question. Indeed, anyone who ‘wins’ unfairly (corruption, etc.) at others expense (ie., himself, the frauds on wall street, etc.) is a loser. Unfortunately, such modus operandi, including that which is criminal, has been accorded protection and respect in defacto bankrupt america, much like the ‘protected’ (bribes, etc.) common drug dealer (america, see infra), pimp, etc.. Then there’s the endearing (to a dumbed down american public) hype! That cloyingly cutesy ‘the donald’ routine is nauseating; but, that’s the natural, visible concomitant to a nation in ineluctable decline! On a positive note, megalomaniac trump will not be able to retread the path of his role model / idol Adolf Hitler as head of state. He’s really quite a joke when you think about it; and a mentally ill one at that; ask Steve Wynn, he’ll tell you, he’s already said it.

 

‘Pizza with palin’, ‘town hall of fame with Bachmann’, trump purports to be at least ‘alcohol free’ (the alleged cause – I don’t think so – of mobster trump’s elder brother’s suicide); but is he ‘med-free’? … there must be something to account for his madness (he’s a psychopath who used to play Hitler speeches for inspiration).

 

Trump to moderate GOP debate This wont end well. (Washington Post) [ Goes without saying… of all people to choose … Why not Jerry Springer?… ‘Non-celebrity Apprentice’, the new reality show, as in who scratches whose back for favors down the road, as in quid pro quo, as in trump’s continued ‘graduation’ from commonly mob connected, to new york/new jersey politically sordid sinkholes, to now failed washingtonian … ‘establishment’? Hasn’t trump’s rise coincided with the nation’s decline / demise? I’ve seen the corruption first hand! http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 Does regulation really kill jobs? (Washington Post) [ Just those corruption-related ones; those organized crime, as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’, bribes, etc., to go around. Energy Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I believe it’s time to start questioning what federal employees get paid for. After all, pervasively corrupt america is defacto bankrupt (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion ) . Moreover, america’s pervasive corruption, even crimes,  has become synonomous with the machinations of any number of federal agencies / departments / all branches of government  (ie., DOJ – holder/fast and furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims , Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission destroyed documents and compromised enforcement case ...   Sen.Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ Report: SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a ‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were murdered by mafia / organized crime [ this was documented with authority in ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] SEC faulted over records shredding The SEC destroyed internal documents that should have been preserved as official federal records, the agency’s inspector general has found. (Washington Post) [ Oh, if it was only that, and only the SEC; and if only they did an incisive investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate   http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html   Paul Joseph Watson | Over two dozen Republicans call for Holder to resign. Though heavily redacted, the documents directly discuss “Operation Fast and Furious” and how it involves “trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf      

 

 

 

Wayne Madsen: Holder’s Fast & Furious was Designed to Destablize Mexican Government Infowars Nightly News | ‘Wayne Madsen has learned from his contacts within the Beltway intelligence community that Jared Lee Loughner is an “MK-ULTRA” programmed assassin and that US District Judge John Roll and Congresswoman Gabriel Giffords were targetted for assassination.The reason for the decision to target Judge Roll and Congresswoman Giffords has to do with their knowledge of the malicious and purposeful arming of Mexican drug gangs along the US-Mexico border by US intelligence agency assets in an effort designed to destablize the Mexican government.This towards the end of making Mexico more dependent on US military aid and protection from its private security contractors.A key quote from Wayne Madsen’s report follows:

WMR has been told that in 2009, information about the CIA/Homeland Security/Napolitano smuggling operation came to the attention of three individuals, two members of Congress and a federal judge. The three were Arizona Democratic Representatives Giffords, Republican Representative Mike Conaway from west Texas, and Judge Roll. Giffords and Roll were working together on investigating the extent of the clandestine weapons and druigs smuggling operation and held some joint meetings with informants, one in north Phoenix, in 2009.Information on the investigation and informants was strictly limited to only a few trusted staffers and clerks for Giffords and Roll. In addition, Conaway was also being briefed by informants on the smuggling operation but since the death of Roll and the severe mental and physical incapacitation of Giffords from the shooting carried out by Jared Lee Loughner, said to be an MK-ULTRA-like trained assassin, he has gone silent in fear for his own safety.Loughners was declared mentally incompetent and there are reports, including one in Slate Magazine, that the U.S. Medical Center for Federal Prisoners in Springfield, Missouri, where Loughner is being held, pending a determination of his mental fitness to stand trial, is being administered psychotropic drugs in his Kool Aid.In addition to receiving drugs to fund its off-the-books operations, the CIA weapons smuggling program is designed to arm the two main Mexican cartels Sinaloa and Los Zetas in order to destabilize Mexico.

 

 

 

Call him irresponsible - call him unreliable
Throw in undependable too
Do his foolish alibis bore you
Well he’s not too clever – he just adores trumpish people we should boo

Call him unpredictable - tell him he’s impractical
Pots of gold at ends of rainbows he’s inclined to pursue
Call him irresponsible - yes newt’s unreliable
But it's undeniably true – newt’s irresponsibly mad for madman trump et als too

Parker: Gingrich’s tone-deaf remarks on the poor  (Washington Post) [ Let me say at the outset, whether correct or not, when it comes to sharpton, the medium is the message (I never got past that ‘Call Me Twana, Bwana’ thing with him  http://albertpeia.com/tawana.htm  - When I wrote this I was still ‘a bit miffed’ by having just been mugged by 4 blacks and 2 hispanics here in LA, along with the anti-white predisposition of blacks as well, here in LA particularly ). Yet, in sharpton’s and partner mason’s ‘legal’ (illegal) heyday, I actually represented a black man, a walk-in/recently out of the army, whose unfortunate accident with his (owned) truck left him in arrears/default on his mortgage, which suit came before the late Honorable (among the few in jersey) U.S.D.C. Judge Sarokin (Rubin ‘Hurricane’ Carter case) upon my motion for failing to meet the amount in controversy, $75,000 –strictly construed, plaintiff midlantic bancorporation’s counsel miscounted and was off by less than $300.

        

[ Some lawyers can’t count or do anything right: This is from a reply to the Congresswoman Roybal-Allard’s query ‘…As previously noted in a prior message to you, I had previously spoken to FBI Agent Bill Lewis in Washington who was recently promoted to the FBI Headquarters Office (D.C.) from the FBI office here in LA, and who was to be out of the office for the two weeks past. I’ll be contacting him given a reasonable time for him to ‘catch up’, from being out of the office. While independent contractor richard coan (missed a filing date) is ultimately the one to bear the burden of damages (there’s insurance and a surety covering same), coan might allude to the prior default of the u.s. government (assist. u.s. atty. robert i. lester miscounted / miscalculated the time for filing an answer / response to the complaint upon service thereof, also misstating the rule in open court before corrupt judge matz who ‘schmoozed’ things over (they both have the same employer), however incorrectly according to the ‘law’. I ordered / bought a copy of the transcript of that rather pathetic proceeding (posted in part on my website). In any event, regardless who pays me, the amounts so paid would ultimately be recovered from coan, his insurer/surety which amounts might even exceed the amount I’m willing to settle at. [There is also a judgment (referenced in the correspondence to FBI ADIC Martinez infra) that had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which would benefit Los Angeles, etc.; and then, of course as well, the substantial damages. ] I’ve waited far too long for this matter to resolve, what should have been resolved in accordance with clear law long ago;  and, which would have been resolved if not for typical u.s. corruption in the process; and, which is well within the government’s ability to resolve. In my world and way of thinking, results do count! I’ve included prior correspondence for ease of reference…’ ]           

 

In state superior court, we opened, then on cross of their first ‘expert’ witness (regarding the amounts due), I moved to dismiss and strike the testimony for having failed and being unable to qualify said witness (owing to a very parochial and strict state rule of evidence in jersey – he had no other such witness for said purpose). The Honorable (among the few in jersey) Judge Weiss was inclined to rule accordingly, took us in chambers and strongly suggested opposing counsel call his client bank to sanction a favorable settlement to my client. The point is, I’m not a racist nor prejudiced. But, I am objective and a realist. I did ‘pay a big price’ for said embarrassment to the bank’s counsel; and, they made sure I knew it. That said, let me reiterate that the inclusion of sharpton as a purveyor of rectitude leaves me somewhat less than receptive to Ms. Parker’s point. Yet again, so slimy and egregious is gingrich’s patronizing ‘showing up on Monday‘ remark that I’m constrained to ask, ‘is that what gingrich recently did for the $37 million from corporate “favor-seekers”?’. Or is it more likely he didn’t have to show up at all? The latter’s the reality, and from his record in being ‘driven from office on a rail’, one must wonder what he among others ever got paid for. Then there’s the ‘mobster trump thing’ (corrupt sister maryanne trump barry, newly appointed for said purpose, did corrupt a RICO action in which hundreds of thousands of illegal (drug) funds were being laundered through her brother’s casinos yet wouldn’t recuse herself despite my motion (see  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm     ).

Robinson: King’s dream remains unrealized  (Washington Post) [ Yeah! That ‘content of their character’ thing’s a b***ch to live up to … just don’t measure up! What’s a white person to do, especially when black atty. General Holder with fellow black Obama’s tacit approval is racist himself (themselves)  UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '. Drudgereport: 'Mob' beatings at WI state fair...
'Hundreds of young black people beating white people'... [ Typical…  ]
Fairgoers 'pulled out of cars'...
'They were just going after white people'...
Heightened security...

[ .. (the following incident is my personal experience: black perps, white victims).. while walking through Military Park (a sliver of a park - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DAs position with both felonies ( he went to prison pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of bystander effect / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp (a police officer here in California was the object of intense criticism for having used a flashlight to subdue a criminal after a long chase so I included that here) . The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal went to jail (where they belong). The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so. I was also mugged by 4 blacks and 2 hispanics in an incident here in Los Angeles, CA. But, to be fair and balanced, the RICO litigation involves those uncivilized who consider themselves whites http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  (predominantly but not exclusively jews / romans-italians / mobsters / government slugs). ]

 

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!


 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Heres some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computers browser) as per your offices request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which Ive installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named 112208opocoan). The (civil) RICO action (as youre aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBIs LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did he served 12 years in prison, aggravated assault/manslaughter? and no, there is no Chinese wall of separation Andrew Maloneys the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their fix so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA   ,  http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related  ,  http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related  ,  http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related  ,  http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related  ] , colluding with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html   ] to control the industry, and now openly protects and transports opium from Afghanistan  [  http://www.youtube.com/watch?v=ElEciFI0Pew  ] .  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [  http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world  ]  ; up 61% compared to 2010 to a whopping 5800 tons.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever. [ website archived links http://albertpeia.com/uscocainedistributionfiles.htm 

 

 

 

 

Five myths about Ron Paul  (Washington Post) [ For me, the litmus test for any candidate, though somewhat personalized, is generally applicable to the entire national electorate. It falls within that very broad category; viz., ‘been there, done that’. It is no mystery that the current wobama regime, et als are trying in every which way to censor, obstruct, and otherwise control the free-flow of information, particularly now the internet, which really works against failed administrations as that currently in place. By every measure you can gauge the success or failure of a presidency, wobama the b for b***s*** is an abject failure. There is not one reason he can point to based upon what he said he would do last time around, didn’t do, but as we now know had he done as he said the nation would have clearly been better off this day. He basically continued the policies of the prior failed presidency of war criminal dumbya bush, including the same or similarly connected players, despite having campaigned vociferously condemning same  (CIA lawyer says Obama administration backed and continued virtually all Bush-era programs Natural News ). Clinton was the luckiest of all recent presidents in having the benefit of the peace dividend to smooth things over, by way of the one and only but very significant accomplishment of Reagan / Gorbachev; yet, he found ways through deep-seated mental issues to fail, which we all endured as if watching a soap opera unfold. Incompetent george h.w. bush (‘poppy’) was basically the ‘cia in disguise’ which kept up the ops which included that snookering of then american proxy, sadam hussein, by u.s. ambassador april glaspie (see more here infra) (george h.w.bush was also ambassador to communist china and we all know how that’s turned out for america; but, ‘they’ and ‘theirs’ have made a bundle. Moreover, poppy and clinton were tied by ‘virtue’ of their cia / Mena, Arkansas cocaine drop / connection [ for me that connection was devastating to my RICO case which involved the laundering of drug money through the trump casinos in atlantic city, new jersey, and poppy is after all, war criminal dumbya bush’s father ( see ie., http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm     , and as well, america also leads in the illegal drug trade, infra ) . wobama the b for b***s*** purports to be a lawyer which makes my aforesaid scenario the easiest thing in the world for him to understand, particulary his department of justice, which is now within the purview of calls for impeachment surrounding the ‘fast and furious debacle’.  Despite campaign promises, there have been no high level prosecutions of the wall street frauds which are still extant in the trillions. That ‘8%’ unemployment; don’t completely dismiss same as they may just have enough of their stand-ins to work exactly 1 day to be counted; and, that’s at best. They may just as they’ve done, manipulate/fudge/outright lie about the numbers (actual unemployment is beyond 15%). Gingrich actually carved out exceptions for fraudulent wall street to the applicability of the RICO Act to their frauds, among many other unscrupulous acts which will emerge; along with having sought the endorsement of mobster, mental case trump. Then in desperation romney follows suit with a trip to kiss the ring of failed president poppy bush while cow-towing as all but Paul to the israeli lobby. So I, as should be so for the entire nation, say results count. (For me, it’s resolution of those corrupted RICO matters). Reality counts. What’s gone before has failed and new direction, policies are required. I think the choice is rather simple. After all, Einstein did say, paraphrasing, ‘doing the same thing over and over again and expecting a different result’ is insanity. Ron Paul’s still standing!

 

 

 

Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) [ So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    America’s shine is wearing off I know why we are falling into a cataclysm of debt and can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious freedom, freedom generally did they come to these shores. A rare exception to the influx of immigrants to this young nation who turned out to be more a virus to the indigenous peoples of this land than what could have been expected from those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those so positioned abroad would have represented a positive addition to the gene pool which, borrowing from an insurance term, viz., adverse selection, springs forth the notion of inevitability to the genocide of the indigenous populations while guaranteeing the decline we see throughout this foundering nation. The effects of these negative predispositions toward inherent criminality is certainly being felt globally as well as domestically and has little to recommend it. My own direct experience with the region(s) (particularly new jersey, new york, virginia, connecticut, california) carves out no exception for the prevalence of the worst of human nature; which is now collectively and pervasively americana.  Though having but 5% of the world’s population, the u.s. has 76% of the world’s serial killers,          http://www.albertpeia.com/realifeamericaserialkillers.mpg     bankrupt america also spends more on military than all the nations of the world combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are included in this evolved american trait of inherent criminality  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 

 

 

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!


 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Heres some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computers browser) as per your offices request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which Ive installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named 112208opocoan). The (civil) RICO action (as youre aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBIs LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did he served 12 years in prison, aggravated assault/manslaughter? and no, there is no Chinese wall of separation Andrew Maloneys the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their fix so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

 

 

 

 

GOOGLE SEARCH – ‘LARRY KLAYMAN, LOUIS FREEH CORRUPT’

ABOUT 6,240 RESULTS (0.11 SECONDS)

·  Trulock Sues FBI Director Freeh

archive.newsmax.com/articles/?a=2000/7/30/211047

Jul 31, 2000 – Judicial Watch is a public-interest law firm that fights corruption in government. To read Larry Klayman's letter to Louis Freeh, ...

·  Judicial Watch - Because no one is above the law!

www.judicialwatch.org/archive/newsletter/2003/0203b.shtml

... security," said JW Chairman Larry Klayman. "His behavior stands in stark contrast to Louis Freeh, a man so corrupt he destroyed the office he led, ...

·  Freedomwriter.com :: Headline News :: - America - JUDICIAL ...

www.freedomwriter.com/issue20/am15.htm

Louis Freeh will finally have to answer in court for what he did to our clients. ... answers,” stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  Infowars.com -- Talk Radio's Alex Jones v. the New World Order

www.infowars.com/jw_transcript.htm

Klayman, Larry, Chairman, Judicial Watch ... My name is Larry Klayman. ... interest group that investigates and prosecutes government corruption and abuse. ...... They seized his computer – these are FBI agents at the direction of Louis Freeh, ...

·  JUDICIAL WATCH REJOICES AT RESIGNATION OF FBI DIRECTOR LOUIS FREEH

www.judicialwatch.org/archive/2001/printer_921.shtml

May 3, 2001 – Because of his corrupt behavior, Freeh was placed on Judicial Watch's ... stated Judicial Watch Chairman and General Counsel Larry Klayman. ...

·  The hazing of Judge Lamberth

www.wnd.com/index.php?pageId=5374

May 27, 2000 – By Larry Klayman ... While Judicial Watch has asked FBI Director Louis Freeh to .... lawsuits against a corrupt and unrepentant Clinton-Gore ...

·  Trulock, Conrad v. Freeh, et al, Employees of FBI

cryptome.org/trulock-v-fbi.htm

LOUIS J. FREEH, in his personal capacity; NEIL GALLAGHER, in his No. ... COUNSEL ARGUED: Larry E. Klayman, JUDICIAL WATCH, INC., Washing- ton, D.C. ...

 

 

America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA   ,  http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related  ,  http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related  ,  http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related  ,  http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related  ] , colluding with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html   ] to control the industry, and now openly protects and transports opium from Afghanistan  [  http://www.youtube.com/watch?v=ElEciFI0Pew  ] .  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [  http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world  ]  ; up 61% compared to 2010 to a whopping 5800 tons.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever. [ website archived links http://albertpeia.com/uscocainedistributionfiles.htm 

 

 

Iraq

from the book

The CIAs Greatest Hits

by Mark Zepezauer

 

‘The Gulf War of early 1991 didn't change much. Our old buddy, the despotic Emir of Kuwait, is back on his throne. Our former buddy, Saddam Hussein, while knocked down a peg or two, is still in power and as brutal as ever. Hundreds of thousands of Iraqis are dead, hundreds of US veterans are suffering from a mysterious disease, and the Persian Gulf has been ravaged by the largest oil spill in history. The question naturally arises, could any of this have been avoided?

The whole dispute started because Kuwait was slant-drilling. Using equipment bought from National Security Council chief Brent Scowcroft's old company, Kuwait was pumping out some $14-billion worth of oil from underneath Iraqi territory. Even the territory they were drilling from had originally been Iraq's. Slant-drilling is enough to get you shot in Texas, and it's certainly enough to start a war in the Mideast.

Even so, this dispute could have been negotiated. But it's hard to avoid a war when what you're actually doing is trying to provoke a war.

The most famous example of that is the meeting between Saddam and the US Ambassador to Iraq, April Glaspie, five days before Iraq invaded Kuwait. As CIA satellite photos showed an Iraqi invasion force massing on the Kuwaiti border, Glaspie told Hussein that "the US takes no position" on Iraq's dispute with Kuwait.

A few days later, during last-minute negotiations, Kuwait's foreign minister said: "We are not going to respond to [Iraq]....If they don't like it, let them occupy our territory....We are going to bring in the Americans." The US reportedly encouraged Kuwait's attitude.

Pitting the two countries against each other was nothing new. Back in 1989, CIA Director William Webster advised Kuwait's security chief to "take advantage of the deteriorating economic situation in Iraq to put pressure on Iraq.'' At the same time, a CIA-linked think tank was advising Saddam to put pressure on the Kuwaitis.

A month earlier, the Bush administration issued a secret directive that called for greater economic cooperation with Iraq. This ultimately resulted in billions of dollars of illegal arms sales to Saddam.

The Gulf War further destabilized the region and made Kuwait more dependent on us. US oil companies can now exert more control over oil prices (and thus boost their profits). The US military got an excuse to build more bases in the region (which Saudi Arabia, for one, didn't want) and the war also helped justify the "need" to continue exorbitant levels of military spending. Finally, it sent a message to Third World leaders about what they could expect if they dared to step out of line.’

 

 

http://www.albertpeia.com/todayspage.htm  
http://albertpeia.com/fbimartinezcongallard.htm  

 

 

 

 

Braveheart Republicans?  Or would false-hearted be more accurate? (Washington Post) [ Truth be told, it was the picture of Mel as Wallace (‘Braveheart’) that caught my attention; among my favorite films in terms of being a portrait of courage. I’ve found, almost without exception, at almost every nuanced turn, that americans are without any courage whatsoever. Yet, my limited disappointment with the film lay in the favorable treatment accorded the ignoble noble bruce. Indeed, bruce’s belated ‘love and respect’ for Wallace post-mortem was no excuse (but good politics?) for unforgivably ‘failing to show up as promised’ at the behest of the typically misguided ‘old-boys’ network’ of nobles (including his father), which of course was fatal for Wallace. For scotland that’s since meant being a mere cog in the broken wheel of a greater britain as opposed to at worst, an independent broken wheel (of course, it should come as no surprise that I respect the latter). Today, those similarly positioned ignoble, self-fashioned government ‘nobles’ and their parasites (wall street frauds, military industrial complex, government contractors, lobbyists, etc.) are indiscernible by party certainly, or any other way whatsoever. For Mr. Milbank, the eternal wobama apologist, to attempt to draw such a distinction by party affiliation is disingenuous or naïve at best, and downright dishonest at worst. With extremely few exceptions, they’re all the same; and to use his term, false-hearted.

PORTER STANSBERRY OF STANSBERRY RESEARCH

THE CORRUPTION OF AMERICA

The numbers tell us America is in decline... if not outright collapse.

I say "the numbers tell us" because I've become very sensitive to the impact this kind of statement has on people. When I warned about the impending bankruptcy of General Motors in 2006 and 2007, readers actually blamed me for the company's problems as if my warnings to the public were the real problem, rather than GM's $400 billion in debt.

The claim was absurd. But the resentment my work engendered was real.

So please... before you read this issue, which makes several arresting claims about the future of our country... understand I am only writing about the facts as I find them today. I am only drawing conclusions based on the situation as it stands. I am not saying that these conditions can't improve. Or that they won't improve.

The truth is, I am optimistic. I believe our country is heading into a crisis. But I also believe that... sooner or later... Americans will make the right choices and put our country back on sound footing.

Please pay careful attention to the data I cite. And please send me corrections to the facts. I will happily publish any correction that can be substantiated. But please don't send me threats, accusations against my character, or baseless claims about my lack of patriotism. If I didn't love our country, none of these facts would bother me. I wouldn't have bothered writing this letter.

I know this is a politically charged and emotional issue. My conclusions will not be easy for most readers to accept. Likewise, many of the things I am writing about this month will challenge my subscribers to re-examine what they believe about their country. The facts about America today tell a painful story about a country in a steep decline, beset by problems of its own making.

One last point, before we begin... I realize that this kind of macro-economic/political analysis is not, primarily, what you pay me for.

You rightly expect me to provide you with investment opportunities whether bull market, bear market, or total societal collapse. And that's what I've done every month for more than 15 years.

But that's not what I've done this month. You won't find any investment ideas at all in these pages. This issue is unlike any other I have ever written.

I'm sure it will spark a wave of cancellations costing me hundreds of thousands of dollars. I fear it will spark a tremendous amount of controversy. Many people will surely accuse me of deliberately writing inflammatory things in order to stir the pot and gain attention. That's not my intention. The truth is, I've gone to great lengths throughout my career to protect my privacy.

I am speaking out now because I believe someone must. And I have the resources to do it. I am sharing these ideas with my subscribers because I know we have arrived at the moment of a long-brewing crisis.

Our political leaders, our business leaders, and our cultural leaders have made a series of catastrophic choices. The result has been a long decline in America's standard of living.

For decades, we have papered over these problems with massive amounts of borrowing. But now, our debts total close to 400% of GDP, and America is the world's largest borrower (after being the world's largest creditor only 40 years ago)... And the holes in our society can no longer be hidden...

We've reached the point where we will have to fix what lies at the heart of America's decline... or be satisfied with a vastly lower standard of living in the future.

How do I know? How do I statistically define the decline of America?

The broadest measure of national wealth is per-capita gross domestic product (GDP). Economists use this figure to judge standards of living around the world. It shows the value of the country's annual production divided by the number of its citizens. No, the production isn't actually divided among all the citizens, but this measure provides us with a fair benchmark to compare different economies around the world. Likewise, this measure shows the growth (or the decline) in wealth in societies across time.

So... is America growing richer or poorer based on per-capita GDP? Seems like a simple enough question, doesn't it? Is our economy growing faster than our population? Are we, as individuals, becoming more affluent? Or is the pie, measured on a per-person basis, growing smaller?
This is the most fundamental measure of the success or the failure of any political system or culture. Are the legal and social rules we live under aiding our economic development or holding us back? What do the numbers say?

Unfortunately, it's a harder question to answer than it should be. The problem is, we don't have a sound currency with which to measure GDP through time. Until 1971, the U.S. dollar was defined as a certain amount of gold. And the price of gold was fixed by international agreement. It didn't actually begin to trade freely until 1975. Therefore, the value of the U.S. dollar (and thus the value of U.S. production, which is measured in dollars) was manipulated higher for many years.

Even today, our government's nominal GDP figures are greatly influenced by inflation. The influence of inflation is particularly pernicious in GDP studies. You see, inflation, which actually reduces our standard of living, drives up the amount of nominal GDP. So it creates the appearance of a wealthier country... while the nation is actually getting poorer.

The only real way to accurately measure per-capita GDP is to build our own model. The need to build our own tools tells you something important the government doesn't want anyone to know the answer to this question. It could easily publish data far more accurate than the indexes it puts out. But government doesn't want anyone to know. And it wants to be able to say "those aren't the real data" when studies like ours produce bad news.

So pay attention to how we built our charts. You can see for yourself that our data are far more accurate than the government's figures. Our data are based on the real purchasing power of the currency, not the nominal numbers, which are completely meaningless in the real world.

The question we are trying to answer is: What would per-capita GDP numbers look like, if we used a real-world currency, like gold, or a basket of commodity prices, instead of the paper-based U.S. dollar? What would the figures be if we measured GDP in sound money instead of the government's funny money?

Here's how we figured it out. We took the government numbers for nominal GDP and measured them first against commodity prices, and later (after it began to trade freely) gold. We used a standard commodity index (the CRB) up to 1975 and gold post-1975. The result of this analysis shows you the real trend in U.S. per-capita GDP, as measured on a real-world purchasing power basis.

Our analysis shows you what's actually happened to our real standard of living. The results, we suspect, will surprise even the most bearish among you.

America is in a steep decline.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/12/porter%201.png

Americans Are Getting Poorer Fast

Let me anticipate the "official" criticism of our study. Many people will claim that our numbers aren't "real." They will say that we "mined" the data to produce a chart that showed a steep decline.

That's simply not so. All we've done is convert the government's nominal GDP stats into a fixed currency value that's based on real-world purchasing power. The fact is, our data are far more accurate than the government's because they represent the real-world experience.

That's why our data are far more closely correlated to other real-world studies of wealth in America.

Consider, for example, annual sales of automobiles. Auto sales peaked in 1985 (11 million) and have been declining at a fairly steady rate since 1999. In 2009, Americans bought just 5.4 million passenger cars. As a result, the median age of a registered vehicle in the U.S. is almost 10 years.

Our data shows that real per-capita wealth peaked in the late 1960s. Guess when we find the absolutely lowest median age of the U.S. fleet? In 1969. At the end of the 1960s, the median age of all the cars on the road in the U.S. was only 5.1 years. Even as recently as 1990, the median age was only 6.5 years.

Rich people buy new cars. Poor people do not.

Most important, our data "proves" something I know many of you have felt or perceived for many years. You've seen the decline of your neighborhoods. You've gone years without being able to earn more money in your job. Or you've seen your purchasing power decrease to the point where you're now substituting lower-quality products on your grocery list for the brand-name products you used to buy.

You can see how much harder it is on your children to find good jobs, to buy good housing or a new car. As a result, few people under the age of 40 have the same kind of "life story" as their parents.

And because they can't "make it," many have decided to "fake it." The average college student now graduates with $24,000 in debt... and by his late 20s has racked up more than $6,000 in credit card debt. Meanwhile, median earnings for Americans aged 25-34 equals $34,000-$38,000. (Source: Demos.org, "The Economic State of Young America," November 2011.)

Can you imagine starting your life out as an adult with a personal debt-to-income level at close to 100%? What does this say about the state of our economy? What does this say about the state of our culture?

Who Suffers Most

It's not only the young that are having trouble in America. It is also the old.

Debt levels among households headed by people older than 62 have been rising for two decades. The average mortgage size for this population is now $71,000 five times larger than it was in 1987 (adjusted for inflation), according to William Apgar of Harvard's Joint
Center for Housing Studies.

Older Americans are also more reliant on credit card debt than ever before... credit card debt. From 1992 through 2007 (which is the latest data available) older Americans took on credit card debt at a faster pace than the population as a whole. According to USA Today, lower- and middle-income Americans aged 65 and older now carry an average of more than $10,000 in credit card debt, up 26% since only 2005.
Given average interest rates of 20% for these debts, it's a fair bet that these obligations will never be repaid. But they will have a terrible impact on the standard of living of these older Americans.

What in the heck is going on? Don't Americans pay off their mortgages before they retire? Don't they work hard during their careers, save, and invest, so they can move to Florida and spend their retirement in comfort?

Older Americans living with credit card debt! This doesn't sound like America, does it? Or maybe it does.

My bet is that most of my subscribers know that something has gone terribly wrong with America. It's not easy to figure out how all of this happened... but you know from your own experiences that these numbers aren't wrong. It might not be pleasant to think about... but these figures paint a sad but accurate picture: America is not the country it was 40 years ago. These changes are warping our economy, politics, and culture.

In this month's issue, I'd like to try to define a few of the core reasons we're in this situation. I can't possibly analyze all the factors that have led to this decline. But I want to document the growth of graft in politics. I want to demonstrate with real facts and examples how public company leadership has deteriorated. And I want to document some of the things that are occurring in the broader society, all of which I believe are linked to this fundamental decline in our standard of living.

You see, I believe the decline of our country is primarily a decline of our culture.

We have lost our sense of honor, humility, and the dedication to personal responsibility that, for more than 200 years, made our country the greatest hope for mankind. I want to detail some of the factors that gave rise to the current entitlement society. We have become a country of people who believe their well-being is someone else's responsibility.

I've labeled these problems: The Corruption of America.

These problems manifest themselves in different ways across institutions in all parts of our society. But at their root, they are simply facets of the same stone. They are all part of the same essential problem.

The corruption of America isn't happening in one part of our country... or in one type of institution. It is happening across the landscape of our society, in almost every institution. It's a kind of moral decay... a kind of greed... a kind of desperate grasp for power... And it's destroying our nation.

The Ethos of 'Getting Yours'

Americans know, in their bones, that something terrible is happening. Maybe you can't articulate it. Maybe you don't have the statistics to understand exactly what's going on. But my bet is, you think about it a lot.

For me, a poignant moment of recognition came this month.

Bloomberg news published an article based on confidential sources about how Henry Paulson, the former CEO of Goldman Sachs and the Republican U.S. Treasury secretary during the financial crisis, held a secret meeting with the top 20 hedge-fund managers in New York City in late July 2008. This was about two weeks after he testified to Congress that Fannie Mae and Freddie Mac were "well-capitalized."
I knew for a fact that what Paulson told Congress wasn't true. I wrote my entire June 2008 newsletter detailing exactly why Fannie and Freddie certainly had billions in losses that they had not yet revealed to investors
$500 billion in losses, at least. There was no question in my mind, both companies were insolvent "zeros," as I explained.

And yet, in front of Congress, the U.S. Treasury secretary was saying exactly the opposite. Either I was a liar... or he was.
Then... only a few days later... what did Paulson tell those hedge-fund managers?

He told them the same thing I had written in my newsletter. He told them the opposite of what he'd said publicly to Congress. He told these billionaire investors that Fannie and Freddie were a disaster... They would require an enormous, multibillion-dollar bailout... The U.S. government would have to take them over... And their shareholders would be completely wiped out.

Here you had a high-government official, explicitly lying to Congress (and by extension, the general public), while giving the real facts to a group of people who represented the financial interests of the world's wealthiest folks. The story didn't come to the public's attention for two years.

This was the most outrageous example of graft and corruption I have ever seen. Certainly it involves more billions of dollars in misappropriated value than any other similar story I can recall. These managers had the risk-free ability to make tens of billions of dollars, if not hundreds of billions, by using derivatives to capitalize on what they knew was the imminent collapse of the world's largest mortgage bank. Who picked up the tab? You know perfectly well. It was you and me, the taxpayers.

(One of the investment managers present at this meeting was Steve Rattner, who by that point was already deeply involved in another bit of graft, his efforts to bribe New York state pension-fund managers for large investments into his hedge fund, from which he earned perhaps as much as $100 million. He later settled the charges for a mere $10 million shortly after Andrew Cuomo was elected governor of New York.)
The Bloomberg story... about a crooked Treasury secretary handing a room full of crooked billionaires inside information worth billions of dollars... hardly caused a ripple. As far as I know, no actions are being planned against Henry Paulson or any of the hedge-fund managers involved. No other major media outlet picked up the story. I saw nothing about it from the Department of Justice or the Securities and Exchange Commission.

What does that say about our country when even the most egregious kind of corruption involving hundreds of billions of dollars is simply ignored?

It seems like everyone in our country has lost his moral bearing, from the highest government officials and senior corporate leaders all the way down to schoolteachers and local community leaders. The ethos of my fellow Americans seems to have changed from one of personal integrity and responsibility to "getting yours" the all-out attempt, by any means possible, to get the most amount of benefits with the least amount of work.

You can see this in everything from the lowering of school standards (revising the SAT) to the widespread use of performance-enhancing drugs in professional, college, and high school sports. Cheating has become a way of life in America.

I have an idea about how this happened... about the root cause of this kind of corruption and why it was inevitable, given some of the basic facts regarding how we've organized our government and our corporations.

Let me show you the numbers the hard facts behind what's happened to our country...’

Bacevich: Iraq marked the end of Americas era (Washington Post) [ This is an important article! I agree that this coincides with the end of americas era. However, what really marked the end of americas era was the dawn of the internet and the free flow of information which does lay bare the sheer madness and folly of americas blatantly false propaganda. So true is the foregoing that we are witnessing an Orwellian nightmare of historic proportion unfold wherein an insecure nation and government now desperately seeks to thwart and subvert all thats made the nation great. Rather than being auspiciously guided by what remains the only check and balance to a now pervasively corrupt nation that is bankrupt in every way possible including and not limited to fiscally, a failed nation now attempts to shoot the wiser than powers that be messenger which is literally the only hope for a fallen nation. American public to Congress: Get out. All of you. (Washington Post) [ Wow! You really know things arent faring well for them from a public opinion / popularity perspective when, despite the detriment, inconvenience, etc., the vast majority of americans were hopin and prayin for a shutdown. Ah, just kidding I dont know that for a fact. Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens. Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.  Repeal of sodomy, bestiality ban sparks fight on Defense bill The Hill | New Defense Authorization Bill repeals a ban on sodomy and bestiality [ This country is so f***ed up! The decline and fall! America mother of hoods and apple new york (n.j. metro) fraudulent pie! Bestiality? Whats next? Legalized pedophilia? Ask p.s. footballs frolicking, fun-loving, manchild (the upshot of his liar’s description of) sandusky! ]Google chairman says online piracy bill would criminalize the Internet The Hill | By criminalizing links, what these bills do is they force you to take content off the Internet.The Death of Rights Enshrined on Bill of Rights Day Aaron Dykes | 220 years after the Bill of Rights was ratified, Congress passes the reconciled NDAA bill legalizing the indefinite detention of American citizens. How The U.S. Will Become a 3rd World Country (Part 2) The United States increasingly resembles a 3rd world country in terms of unemployment, lack of economic opportunity, falling wages, growing poverty and concentration of wealth, government debt, corporate influence over government and weakening rule of law. , EUR Shorts Surge, Back To 17 Month Highs As Bearish Sentiment Returns , Bob Janjuah Explains Why The Worst Is Still Ahead Of Us America To Go The Way Of The Roman, British Empires Forbes Robert Lenzner, Forbes Staff

 

Wayne Madsen: Holder’s Fast & Furious was Designed to Destablize Mexican Government Infowars Nightly News | ‘Wayne Madsen has learned from his contacts within the Beltway intelligence community that Jared Lee Loughner is an “MK-ULTRA” programmed assassin and that US District Judge John Roll and Congresswoman Gabriel Giffords were targetted for assassination.The reason for the decision to target Judge Roll and Congresswoman Giffords has to do with their knowledge of the malicious and purposeful arming of Mexican drug gangs along the US-Mexico border by US intelligence agency assets in an effort designed to destablize the Mexican government.This towards the end of making Mexico more dependent on US military aid and protection from its private security contractors.A key quote from Wayne Madsen’s report follows:

WMR has been told that in 2009, information about the CIA/Homeland Security/Napolitano smuggling operation came to the attention of three individuals, two members of Congress and a federal judge. The three were Arizona Democratic Representatives Giffords, Republican Representative Mike Conaway from west Texas, and Judge Roll. Giffords and Roll were working together on investigating the extent of the clandestine weapons and druigs smuggling operation and held some joint meetings with informants, one in north Phoenix, in 2009.Information on the investigation and informants was strictly limited to only a few trusted staffers and clerks for Giffords and Roll. In addition, Conaway was also being briefed by informants on the smuggling operation but since the death of Roll and the severe mental and physical incapacitation of Giffords from the shooting carried out by Jared Lee Loughner, said to be an MK-ULTRA-like trained assassin, he has gone silent in fear for his own safety.Loughners was declared mentally incompetent and there are reports, including one in Slate Magazine, that the U.S. Medical Center for Federal Prisoners in Springfield, Missouri, where Loughner is being held, pending a determination of his mental fitness to stand trial, is being administered psychotropic drugs in his Kool Aid.In addition to receiving drugs to fund its off-the-books operations, the CIA weapons smuggling program is designed to arm the two main Mexican cartels Sinaloa and Los Zetas in order to destabilize Mexico.

 

 

Panetta offers support to new Libya Secretary stops over to encourage the fledgling government to quickly adopt democratic institutions. (Washington Post) [ Wow! Thanks but no thanks … at least judging from the devestating consequences to other nations america’s so supported … and ‘democratic institutions’? … just as they’re ‘going out of style’ in pervasively corrupt, defacto bankrupt america with an unmistakeable regression and negative direction of historical proportion. American public to Congress: Get out. All of you. (Washington Post) [ Wow! You really know things arent faring well for them from a public opinion / popularity perspective when, despite the detriment, inconvenience, etc., the vast majority of americans were hopin and prayin for a shutdown. Ah, just kidding I dont know that for a fact. Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens. Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.  Repeal of sodomy, bestiality ban sparks fight on Defense bill The Hill | New Defense Authorization Bill repeals a ban on sodomy and bestiality [ This country is so f***ed up! The decline and fall! America mother of hoods and apple new york (n.j. metro) fraudulent pie! Bestiality? Whats next? Legalized pedophilia? Ask p.s. footballs frolicking, fun-loving, manchild (the upshot of his liar’s description of) sandusky! ]Google chairman says online piracy bill would criminalize the Internet The Hill | By criminalizing links, what these bills do is they force you to take content off the Internet.The Death of Rights Enshrined on Bill of Rights Day Aaron Dykes | 220 years after the Bill of Rights was ratified, Congress passes the reconciled NDAA bill legalizing the indefinite detention of American citizens. How The U.S. Will Become a 3rd World Country (Part 2) The United States increasingly resembles a 3rd world country in terms of unemployment, lack of economic opportunity, falling wages, growing poverty and concentration of wealth, government debt, corporate influence over government and weakening rule of law. , EUR Shorts Surge, Back To 17 Month Highs As Bearish Sentiment Returns , Bob Janjuah Explains Why The Worst Is Still Ahead Of Us America To Go The Way Of The Roman, British Empires Forbes Robert Lenzner, Forbes Staff

 

Wayne Madsen: Holder’s Fast & Furious was Designed to Destablize Mexican Government Infowars Nightly News | ‘Wayne Madsen has learned from his contacts within the Beltway intelligence community that Jared Lee Loughner is an “MK-ULTRA” programmed assassin and that US District Judge John Roll and Congresswoman Gabriel Giffords were targetted for assassination.The reason for the decision to target Judge Roll and Congresswoman Giffords has to do with their knowledge of the malicious and purposeful arming of Mexican drug gangs along the US-Mexico border by US intelligence agency assets in an effort designed to destablize the Mexican government.This towards the end of making Mexico more dependent on US military aid and protection from its private security contractors.A key quote from Wayne Madsen’s report follows: …

 

 

 

MF GLOBAL EXPLAINED http://www.youtube.com/watch?v=jLt05sN7vK0&feature=player_embedded  [This brief video explains causal links (some even adding that theyre all jewish)  between OTC derivatives, the financial crisis of 2008, Alan Greenspan, Robert Rubin, Larry Summers, Jon Corzine and MF Global. [ It’s time for all people to know and understand how they, america and the rest of the world, have been done-in by fraudulent wall street greed / crime, u.s. government corruption, and media/u.s.government complicity by silence, coverup, and overt criminal acts to protect the perpetrators (the following 10 minute video is purposely simplistic enough for even the previously most gullible dupes to understand, including the insurmountable magnitude of the problem/fraud/crime requiring action and prosecutions. Yes, it is true ‘what a tangled web they’ve weaved, when in greed they’ve deceived, and fraudulently keep the money they’ve received, as all the respective nations of the world continue to bleed’!) ]; and, heres: Quantitative Easing Explained  http://www.youtube.com/watch?v=PTUY16CkS-k  (6 minutes-well worth it). 

 

 

Economy grew more slowly in the summer than previously thought (Washington Post) [ Yeah! Riiiiight! That, an approximately 35% difference; no small matter. Indeed, much like the ‘financial ponzi scheme’ being run out of washington, there’s a ‘fake / inflated’ ‘data ponzi scheme’ being run (particularly in this desperate election cycle) wherein the better than expected inflated (or deflated as in fake/manipulated unemployment numbers) are put out there for the spike in stock prices, with similar tact when reality catches up with the false data (as here, or the inflated housing numbers yesterday, ue numbers, etc.). Needless to say, as with ponzi schemes, reality always catches up, at great expense / damage to many, having benefited the few (ie., frauds on wall street, undeserving pols, etc.). All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.--Arthur Schopenhauer

 

Regional jobless rates sink Unemployment levels dropped substantially in the District, Maryland and Virginia in November. Why Italy may have entered new recession (WP)  ,  Japan cuts economic growth forecasts (WP) (Washington Post)  [ Except for The Washington Post and law evorcement, increased employment in this region in close proximity to a desperate washington in an election year clearly must be considered a contrarian indicator and a net negative. Then there are the other spun manipulations you’re paying for (as is so of the wall street frauds, the largest of which are still unprosecuted, along with the QE’s in various forms and incarnations) Drudgereport (on Government Motors): REPORT: Chevy Volt Costing Taxpayers Up to $250K Per Vehicle...  CAVUTO: Volt sales inflated with taxpayer fleet buys...  – The reality is that global depressions are notorious for such as the aforesaid, and pervasively corrupt, defacto bankrupt america’s no exception despite the manipulations, obfuscations, and spin.

 

U.S. exporters brace for cutbacksCompanies are bracing for a recession in Europe that would significantly reduce demand for U.S. products. (Washington Post) [ Duh! Ya think! …   Why Italy may have entered new recession (WP) {Hint … it’s a global depression} ,  Japan cuts economic growth forecasts (WP) {Hint … it’s a global depression} [The reality is that global depressions are notorious for such as the aforesaid, and pervasively corrupt, defacto bankrupt america’s no exception despite the manipulations, obfuscations, and spin.]

 

Sneaker Mob Goes On Rampage: The Decline of Western Civilization John Galt | When the collapse happens, your neighborhood becomes a permanent Black Eye Friday.

They Can't Wait, They (blacks) Break Into The Mall...

  http://detroit.cbslocal.com/2011/12/23/shoppers-waiting-for-shoe-release-riot-break-into-mall/#comment-96059

PappyHappy

How many used their EBT card??

Mudholder

rusty the right wing nut

yeah its were our tax money went statisticaly we paid for some of them shoes bunch of apes they ussed their obama welfare foodstamp and unemploymeny money and probly some money they sold crack for and probly pimped a few ni$$a Bi%%%%S as well for cause dem shoes cause dey tight

Michael

.. I pity the animals..

Welcome to our http://www.NewNation.org

Jomama

God help the USA!

Vince

The big question is why isnt OBAMA speaking out on this issue??? He manages to find time to speak out if a white police officer is ACCUSED of racism when he restrains a black professor from breaking into his house.. Without knowing the facts he JUMPS and gives a speech..these teenage hoodlums who rob, beat up, and steal every day he says NOT A WORD about..

LA Doc

Man, you aint kidding. Freeloading, thieving, ghetto-rats. All of them. Just like the animals in the WH and Congress.

bullrider

I haven’t spent a fraction of what those shoes cost for any I’ve bought EVER. Of course, I’m a systems analyst and have to pay every frigging dime of the cost for food, housing, clothing, medical care etc. for myself and my family, and pay huge taxes on my $60K income so others ..

 

Annie

.. Affirmative action is a symptom not a cause. This is the face of ghetto culture and this primative behavior exists in every african nation on earth. Stop with the excuses. Every culture has been enslaved and oppressed. The mark of a people is how you pick yourself up, rise above and organize your social behavior.This continued infantalization of African American cultures doesnt ..

bullrider

Im not a person of color. I must be transparent ..

Andrew

.. The obvious fact being that 99.5% of urban blacks give the remaining half percent a bad rap. Pull your head outit aint racist if (and it is) the truth. These people are an embarrassment to any thinking individual, they are uncivil and are effectively acting as the water in the fuel tank of this once great nation, and you are not helping by denying it..

Islamists kill dozens in Nigeria Christmas bombs [ Blacks black Christmas! Typical! ]
For ‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I believe the under-profiled black serial killer is also the consequence of their proclivity for and love of killing, random, for no reason other than for the sake of killing (which distinguishes them from and positions them below other feral beasts) and otherwise, and an historic predisposition toward canabalism. After all, the contra-indicated mainstream view (tv and otherwise) calls for a white perp in terms of ‘profile’ which is of course, ridiculous. I believe the under-reporting is owing to multiple killings by blacks being classified as something other than ‘serial’; ie., gang, gang related, ‘typical’, etc.. Moreover, the anti-white bias of the black perps is also a reality that’s under-reported. Take a look at the following brutally uncivilized black on white violent rapes/murders:

http://www.albertpeia.com/whitesvictimizedbyblacks.htm 


The following
s a partial list of under-reported / under-profiled black serial killers:

Black Serial/Mass/Spree Killer List:
1. Matthew Emanuel Macon (Murdered and Raped 5 White Women in Lansing)
2. Jimmie Reed (Murdered his wife and his 2 month old daughter and set them on fire)
3. Shelly Brooks (Murdered 7 prostitutes in Detroit Cass Corridor)
4. Justin Blackshere (Stabbed two white cooks at Cheli
s Chili downtown Detroit)
5. Jervon Miguel Coleman (Murdered three people.)
6. Donell Ramon Johnson (Murdered a mother and a daughter)
7. Brian Ranard Davis (6 women known murdered by nigger)
8. Paul Durousseau (Seven women)
9. Mark Goudeau
The Baseline Killer (Eight women and a man in 2005-2006)
10. Coral Eugene Watts (11 women in Texas & 1 in Michigan)
11. Anthony McKnight (Five girls and young women)
12. Derrick Todd Lee (8 Women)
13. Charles Lendelle Carter (4 known murders; admits to
hunting Atlantans for 15 years!)
14. The Zebra Killings (71 White people)
15. Chester Turner (L.A.s most prolific killer 12 women killed.)
16. Lorenzo J. Gilyard (Kansas City, MO.
13 victims)
17. Eugene Victor Britt (Gary, IN.
3 known murder/rapes.)
18. Reginald and Jonathan Carr (The Wichita Massacre
6 Whites murdered)
19. Ray Joseph Dandridge and his uncle, Ricky Gevon Gray (Richmond, VA.
Murdered 7 people in 7 days, including an entire White family.)
20. The Tinley Park Murderer (Suspect hasn
t been found but has been described as black murdered 5 women in a store.)
21. Henry Louis Wallace (Raped and strangled 5 women to death.)
22. Charles Johnston (Murdered 3 unarmed white men in hospital)
23. Craig Price (Brutally murdered 3 women)
24. Harrison Graham (Brually Murdered 3 women)
25. Charles Lee Cookie Thornton (Murdered 6 Whites at the Kirkwood, MO. city council. )
26. & 27. Darnell Hartsfeld & Romeo Pinkerton (Abducted and Murdered 5 from a restaurant)
28 &29. John Allen Muhammad & Lee Boyd Malvo (Sniped 11 people from a car in DC, 9 died.)
30. George Russell (3 women, WA state)
31. Timothy W. Spencer (5 killed, Arlington, VA and Richmond, VA)
32. Elton M. Jackson (12 gay men killed, Norfolk, VA area)
33. Carlton Gary (3 killed in Columbus, GA)
34. Mohammed Adam Omar (16 women, Yemen. Omar is Sudanese.)
35. Kendall Francois (8 women, Poughkeepsie, NY and surrounding areas.)
36. Terry A. Blair (8 women, Kansas City area)
37. Wayne Williams (33 many of them children!, Atlanta, GA)
38. Vaughn Greenwood (11 killed in LA)
39. Andre Crawford (10 killed in Chicago
southside)
40. Calvin Jackson (9 killed possibley more in NY)
41. Gregory Klepper (killed 8, Chicago
southside)
42. Alton Coleman (Killed 8 in the Midwest)
43. Harrison Graham (killed 7+ in N. Philadelphia)
44. Cleophus Prince (6 killed in, San Diego
45. Robert Rozier (7 killed in, Miami)
46. Maurice Byrd (killed 20 + in St. Louis)
47. Maury Travis (17 and rising, St. Louis and possibly also Atlanta)
48. Hulon Mitchell, a.k.a. Yahweh Ben Yahweh (killed 20+ in Florida)
49. Lorenzo Fayne (killed 5 children in East St. Louis, IL)
50. Paul Durousseau, (killed 6, two of which were pregnant women, Jacksonville, FL; Georgia.)
51. Eddie Lee Mosley (killed 25 to 30 women, south Florida)
52. Henry Lee Jones (killed 4 in, south Florida; Bartlett, TN)
53. Richard
Babyface Jameswhite (15 killed in, New York; Georgia.)
54. Donald E. Younge, Jr. (killed 4), East St. Louis, IL; Salt Lake City, UT.
55. Ivan Hill (killed 6 in Los Angeles area).
56. Michael Vernon (Bronx, NY. Killed at least seven people
)
57. Chester Dewayne Turner (12 women killed in, Los Angeles)
ARREST MADE IN LOS ANGELES GRIM SLEEPER SERIAL KILLER CASE July 07, 2010 http://articles.cnn.com/2010-07-07/justice/grim.sleeper.arrest_1_lonnie-david-franklin-serial-killer-case-family-members?_s=PM:CRIME  |By Mallory Simon, CNN
Authorities in California said Wednesday they have arrested a suspect in the Grim Sleeper serial killer case and will charge him with 10 counts of murder.Lonnie David Franklin Jr., 57, faces an additional count of attempted murder, Capt. Kevin McClure with the Los Angeles Police Department said.Franklin will arraigned in court Thursday morning, McClure said.The California Attorney General's office attributed the arrest to DNA collected from a relative of the suspect, in a controversial and rarely used practice known as familial DNA search.
Of Course There Are Black Serial Killers by Lynette Holloway on  July 15, 2010 The case of the "Grim Sleeper" inspires a second look at the popular perception that serial killing is the province of clever white men.
Serial Murderers' Row July 16, 2010 The following black men are among the most prolific serial killers in U.S. history. http://www.theroot.com/multimedia/gallery-meet-6-black-serial-killers  Plus: Behind the myth that only white men commit such crimes.
Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html
200 Involved In Fights At Mall Of America After Rumors That Rappers Are There...

 

 

Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) [ So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  

 

 

 

Historical headwinds Gingrich, Romney and Paul against the odds. (Washington Post) [ This is without doubt the most disappointing article by an otherwise invariably clear thinking Mr. Will. I’m glad for his disclosure (the Perry link) inasmuch as at least there is the possibility of a modicum of reason behind what otherwise would constitute a total ‘lack of reason’. Mr. Will sets forth some interesting tidbits of a category of sorts of history as if prepping for a round of Jeopardy, so obscure as they are. Relevance to today, that is also as obscure. If Mr. Will, of all people, cannot discern the difference today, from the america of yesterday, one does have to wonder who can. Yet, I do believe the vast majority in america do in fact discern such a difference. Why? Because the magnitude of that reality (of difference) is so great that one would have to be literally brain-dead to not discern it. Pervasively corrupt and quite literally defacto bankrupt, america’s at the cusp of a complete collapse in every way a nation could collapse; viz., financially, economically, politically, geopolitically, and legally. Indeed, so stark are these realities despite organized obfuscation, the same direction / status quo is blatantly untenable to even the most stalwart of ‘stay the course types’. Other than the black vote (roughly 18% according to’the first black president, clinton’) and the relatively few remaining wobama loyalists, I do believe, though belated, it’s human nature for that clear majority to opt for the chance of survival (of a nation) rather than the already worn path of decline as tread by wobama. Then comes the distinction between the failed president wobama and the alternative; Ron Paul being the ‘man, with a plan, that’s not already been ran’. New direction, change is sorely needed; which wobama promised, but never delivered, jive-talking con-man that he is. 

Is the U.S. protected from the euromess? The Federal Reserve’s controversial “quantitative easing” program may have insulated U.S. banks from the European debt crisis. (Washington Post) [ Short answers: No…and No! In fact, not only has quantitative easing not helped in the ways promised / projected, the costs are very real and will manifest in very real ways though currently masked / obfuscated (ie., inflation-underreported -look at food/necessaries currently, etc.), toxic assets marked to anything as per misguided legislated FASB rule change, even those held by the fed, the rehypothecation of worthless paper securites, the over-printing of ever-more worthless fiat paper currencies, etc., all of which are failed, exacerbating strategies of american origin. Guest Post: A Run On The Global Banking System - How Close Are We?Nine weeks after its bankruptcy, the general public still hasn’t quite realized the implications of the MF Global scandal… That’s why we’re pulling out our money now—while we still can. Because once the general public catches on to what we already know . . . ,   5 Reasons Why 2012 Will Not Be A Replica Of 2011... At Least Not For Europe #1) The ECB #2) Greece #3) Contagion #4) CDS #5)

 

 

 

Sneaker Mob Goes On Rampage: The Decline of Western Civilization John Galt | When the collapse happens, your neighborhood becomes a permanent Black Eye Friday.

They Can't Wait, They (blacks) Break Into The Mall...

  http://detroit.cbslocal.com/2011/12/23/shoppers-waiting-for-shoe-release-riot-break-into-mall/#comment-96059

PappyHappy

How many used their EBT card??

Mudholder

rusty the right wing nut

yeah its were our tax money went statisticaly we paid for some of them shoes bunch of apes they ussed their obama welfare foodstamp and unemploymeny money and probly some money they sold crack for and probly pimped a few ni$$a Bi%%%%S as well for cause dem shoes cause dey tight

Michael

.. I pity the animals..

Andrew

.. The obvious fact being that 99.5% of urban blacks give the remaining half percent a bad rap. Pull your head outit aint racist if (and it is) the truth. These people are an embarrassment to any thinking individual, they are uncivil and are effectively acting as the water in the fuel tank of this once great nation, and you are not helping by denying it..

Islamists kill dozens in Nigeria Christmas bombs [ Blacks black Christmas! Typical! ]
For ‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I believe the under-profiled black serial killer is also the consequence of their proclivity for and love of killing, random, for no reason other than for the sake of killing (which distinguishes them from and positions them below other feral beasts) and otherwise, and an historic predisposition toward canabalism. After all, the contra-indicated mainstream view (tv and otherwise) calls for a white perp in terms of ‘profile’ which is of course, ridiculous. I believe the under-reporting is owing to multiple killings by blacks being classified as something other than ‘serial’; ie., gang, gang related, ‘typical’, etc.. Moreover, the anti-white bias of the black perps is also a reality that’s under-reported. Take a look at the following brutally uncivilized black on white violent rapes/murders:

http://www.albertpeia.com/whitesvictimizedbyblacks.htm 

 

Drudgereport: MELEE AT MALL OF AMERICA...
Man beaten by robbers -- who stole new Air Jordan sneakers off his feet!...

Hundreds of Teens Run Wild After Rumors That Rappers 'Lil Wayne, Drake Are There...
VIDEO: Mayhem, Screams...
California soldier shot at his homecoming party [ From one war zone to another!  ]
Islamists kill dozens in Nigeria Christmas bombs [ Blacks
black Christmas! Typical! ]
For ‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I believe the under-profiled black serial killer is also the consequence of their proclivity for and love of killing, random, wanton savagery for no reason other than for the sake of killing (as, ie., rabid dogs, which distinguishes them from and positions them below other feral beasts) and otherwise, and an historic predisposition toward canabalism. After all, the contra-indicated mainstream ‘politically correct’ view (tv and otherwise) calls for a white perp in terms of ‘profile’ which is of course, ridiculous. I believe the under-reporting is owing to multiple killings by blacks being classified as something other than ‘serial’; ie., gang, gang related, ‘typical’, etc.. Moreover, the anti-white bias of the black perps is also a reality that’s under-reported. Take a look at the following brutally uncivilized black on white violent rapes/murders:

http://www.albertpeia.com/whitesvictimizedbyblacks.htm 

 

 

Ron Paul’s poll numbers are up in Iowa (Washington Post) [ As indeed they should be if people are truthful about wanting real change for the better. Historical headwinds Gingrich, Romney and Paul against the odds. (Washington Post) [ This is without doubt the most disappointing article by an otherwise invariably clear thinking Mr. Will. I’m glad for his disclosure (the Perry link) inasmuch as at least there is the possibility of a modicum of reason behind what otherwise would constitute a total ‘lack of reason’. Mr. Will sets forth some interesting tidbits of a category of sorts of history as if prepping for a round of Jeopardy, so obscure as they are. Relevance to today, that is also as obscure. If Mr. Will, of all people, cannot discern the difference today, from the america of yesterday, one does have to wonder who can. Yet, I do believe the vast majority in america do in fact discern such a difference. Why? Because the magnitude of that reality (of difference) is so great that one would have to be literally brain-dead to not discern it. Pervasively corrupt and quite literally defacto bankrupt, america’s at the cusp of a complete collapse in every way a nation could collapse; viz., financially, economically, politically, geopolitically, and legally. Indeed, so stark are these realities despite organized obfuscation, the same direction / status quo is blatantly untenable to even the most stalwart of ‘stay the course types’. Other than the black vote (roughly 18% according to’the first black president, clinton’) and the relatively few remaining wobama loyalists, I do believe, though belated, it’s human nature for that clear majority to opt for the chance of survival (of a nation) rather than the already worn path of decline as tread by wobama. Then comes the distinction between the failed president wobama and the alternative; Ron Paul being the ‘man, with a plan, that’s not already been ran’. New direction, change is sorely needed; which wobama promised, but never delivered, jive-talking con-man that he is. 

 

 

How the economy could come back WONKBOOK | There are plausible scenarios in which 2012 is better than forecasters expect. (Washington Post) [ Yeah … and if your grandmother had wheels she’d be a trolleycar. Come on, let’s get real here. I’m quite surprised at Mr. Klein’s piece here which usually is quite grounded. This being a somewhat business-oriented offering, the emphasis should be on probable, not plausible, though the pols are lovin’ Mr. Klein for his election year ‘polspeak’; or, for those so addicted, that thing called ‘hopium’, for which the withdrawal period inevitably to follow is a real b**ch!

Payroll tax cut raises worries about Social Security’s future funding Congress’s extension of the cut has many concerned that a foundation of Social Security is being undermined. (Washington Post) [ Little late to be worrying about something so insurmountably problematic at this point; particularly, one of so relatively small significance given the sheer magnitude of the problem. Lawrence: Uncle Sam’s dirty secret (Washington Post) [ Unfortunately, though dirty, the secret is not so secret, just ‘media controlled’ as is all too often the case in pervasively corrupt, defacto bankrupt america. Moreover, I believe the calculations of a published economics professor are far more reliable than those of a new york wall street manipulato / desperato; and, not surprisingly, far more dire ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks … We’re broke for a reason. We’ve spent six decades accumulating a huge official debt (U.S. Treasury bills and bonds) and vastly larger unofficial debts to pay for Social Security, Medicare, and Medicaid benefits to today’s and tomorrow’s 100 million-plus retirees. The government’s total indebtedness — its fiscal gap — now stands at $211 trillion’

Detroit stands out in housing data An unlikely name has been popping up as a bright spot in the nation’s still-abysmal housing market. (Washington Post) [ Riiiiight! Such a lovely place … and, among the few places where they actually pay you to buy there … and, kind of like that ‘House on Haunted Hill’ (you know, the spooks / ‘ghosts’), if you survive a certain short period of time, you get to keep it (in good condition for the banks / lenders / owners) … though similar in some ways to a roach motel as in that ‘once you go in, you never come out’ (Eh …I don’t really know that for a fact … just kiddin’).

 

After a wild ride in 2011, U.S. stocks back almost where they started  A year filled with solid rallies and breathtaking drops ends almost precisely where it began. (Washington Post) [ Yes, where it began; but minus literally billions (and then trillions) in commissions, fees, and hard cash for bogus paper / toxic assets now marked to anything as per misguided legislated FASB rule change, even those held by the fed, the rehypothecation of worthless paper securites, the over-printing of ever-more worthless fiat paper currencies, etc., all of which are failed, exacerbating strategies of this continuing crisis, the worst of which lies ahead. Guest Post: 2011 - Catch-22 Year In ReviewThe Wall Street mantra of stocks for the long run is beginning to get a little stale. If Abbey Joseph Cohen had been right for the last twelve years, the S&P 500 would be 4,000. For this level of accuracy, she is paid millions. Her 2011 prediction of 1,500 only missed by 16%. The S&P 500 began the year at 1,258 and hasn’t budged. The lowest prediction from the Wall Street shysters at the outset of the year was 1,333, with the majority between 1,400 and 1,500. The same Wall Street clowns are now being quoted in the mainstream media predicting a 10% to 15% increase in stock prices in 2012, despite the fact we are headed back into recession, China’s property bubble has burst, and Europe teeters on the brink of dissolution. They lie on behalf of their Too Big To Tell the Truth employers by declaring stocks undervalued, when honest analysts such as Jeremy Grantham, John Hussman and Robert Shiller truthfully report that stocks are overvalued and will provide pitiful returns over the next year and the next decade.’

 

 

That was a bust -- could 2012 be better? (Washington Post) [ The most objective and smartest money say this ‘bust’ was just a warm-up for the full-blown crisis just around the corner. SPX Update: Is Your 401(k) Ready for a 70% Haircut?  Minyanville  Jason Haver Dec 30, 2011 , Open Thread: 2011 Closes....Down, As '11 Ends, 11 Charts Of 11 Disturbing 11 Year Trends  Famed economist predicts economic calamity in 2012. See the evidence.   http://w3.newsmax.com/a/aftershockb/video.cfm   50% unemployment & 90% Dow crash also predicted. Newsmax   ,  Economic / Financial Collapse Imminent – Stansberry  Investment Advisory http://www.albertpeia.com/stansberrysinvestmentadvisory.flv    Harry Dent, Jr. Economy will be in a Depression by 2011 Dow will Fall to 3,800 – 4,500 by 2012 Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest. U.S. Dollar will Decline Housing will Decline by 40 – 60% from Today’s Levels Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012). , 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

 

 

 

Call him irresponsible - call him unreliable
Throw in undependable too
Do his foolish alibis bore you
Well he’s not too clever – he just adores trumpish people we should boo

Call him unpredictable - tell him he’s impractical
Pots of gold at ends of rainbows he’s inclined to pursue
Call him irresponsible - yes newt’s unreliable
But it's undeniably true – newt’s irresponsibly mad for madman trump et als too

 

 

Time to fix the MLK memorial The decision should be easy. (Washington Post) [ Yeah … I agree … I truly favor that language of his; viz., paraphrasing, that people should be judged by the content of their character, and not the color of their skin. After all, these words (on his memorial) give him the persona of almost a ‘self-proclaimed god’ when we all know and have been consistently reminded by his apologists, ‘he was just a man’; with those amorous trysts with those ‘ white ho’s ’ the proof among other foibles. Moreover, that content of character thing / criteria allows for an unsalutatory, unceremonious good-bye to one term presidential failure and last black president, b***s*** artist and con man in chief, wobama the b fo b***s***, along with his corrupt, black racist buddy eric holder at the doj (infra, UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... (WP) ignore cases that involve black defendants and white victims ', etc.   ). Additionally, that ‘content of character’ thing would also permit a more objective and real approach to profiling ie., serial killers (blacks included based on the data / facts, infra), not to mention their predominance in crime generally which is consistent with their anthropological, indigenous history to present. Yes, we all owe a debt of gratitude to the Post’s editorial board to take time out from scrutiny and comment on the multitude of ‘nation-ending-problems’ of a nation literally on the brink of total collapse to take that tough position as here that has so defined this great newspaper. It’s objective criteria / realities and ‘cutting the mustard’ that’s necessary which as well includes prosecution of  those unprosecuted gargantuan frauds by ‘white boys’ on wall street. And, to be further fair and balanced, the RICO litigation involves those uncivilized who consider themselves ‘whites’ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  (predominantly but not exclusively jews / romans-italians / mobsters / government slugs). The rhetoric from the unbalanced savage is equally appalling .. Michael Savage: Ron Paul Hates Jews and Supports Terrorists Kurt Nimmo | Top-ranked talk show host warns that Paul is a “lunatic” who threatens America .. this from a ‘talk radio’ lunatic (I sampled as with most such) savage who literally went into one of his rants about people being crazy to like mayonnaise (he fancies himself somewhat of a ‘gourmet’; never mind that probably second to only ketchup, this condiment is wildly popular and with a pleasing taste at that). Who’s the lunatic? The fact is, if Paul were to put zionist, israeli, aipac approved interests before those of America, no doubt ‘all would be forgiven’. Easy enough to do; ask all the other candidates.

 

 

 

Allan Sloan COLUMN | The financial world is even more unstable than when U.S. markets were in free fall. (Washington Post) [ Well said, Mr. Sloan. Indeed, it is! And, you ain’t seen nothin’ yet! In fact, a respected money-man is recommending, ‘It’s time to get out of Dodge’! And, he ain’t talkin’ ‘bout the eu; but rather, the late great u.s. of a. Doug Casey Addresses Getting Out of DodgeThe fact is that the US has been on a slippery slope for decades, and it's about to go over a cliff…

 

 

Iran seeks to fuel anti-U.S. sentiment in Kabul Worried that U.S. troops could stay in Afghanistan beyond 2014, the initiative involves overtures to the Taliban, funding politicians and media outlets, and expanding cultural ties with its eastern neighbor, officials say. (Washington Post) [ Fuel anti-u.s. sentiment? Doesn’t take much; particularly in that entire region (Mideast), u.s. propaganda home and and abroad notwithstanding. As a matter of fact, in the manner of that classic lou costello comedic skit (you may recall or someone might tell you, ‘niagara falls’ is the term that triggers the negative ‘overreaction’ much to lou costello’s detriment including his ‘well-being’), mere mention of the word ‘united states’ would spur a panoply of reactions; none of them good, I might add. What can you expect? After all, you couldn’t possibly anticipate a ‘hopiate-induced’ patriotic fervor wherein as here they wrap themselves in an american flag to cover their eyes from seeing. Presenting 2011's Top 10 Most Corrupt American Politicians  Oil prices surge after Iran sends warning aimed at U.S. ships

 

 

Romney out of control His victory rally was a disaster. (Washington Post) [ Come on Mr. Milbank … let’s get real here! Unfortunately, except possibly Ron Paul, they’re all lamentably almost by self-definition in control; albeit by someone else, from the war-mongering zionist aipac, to the frauds on wall street, etc.. There’s nothing new there. The real disaster Mr. Wobama defender / apologist is currently sitting (or should I say s***ting) in the white house. After all, wobama’s just extended controls of the populace that only one so conditioned for such ‘controls’ would feel comfortable with. I don’t know anything about the rally; but I’m certain it doesn’t nearly approach the magnitude of the disaster of wobama’s (limited) tenure in office. Obama’s Signing Statement on NDAA: I have the power to detain Americans… but I won’t  Infowars | “I want to clarify that my Administration will not authorize the indefinite military detention without trial of American citizens.” [ Who could possibly be foolish enough to believe even one word from jive-talking wobama the b for b***s***? He’s lied about everything! There is not one thing he hasn’t lied about! He’s a pathetically failed president! ] Obama Violates Constitution Again Kurt Nimmo | Says nothing we can do about his illegal appointment. 34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com  

 

 

Greece’s survival in euro currency zone may rest on upcoming talks Debt restructuring talks have yet to bear fruit, and talks on a new bailout begin this month. (Washington Post) [ Seems we’ve heard this song before, and like a Led Zeppelin goin’ down, ‘The Song Remains the Same’. The Can Kicking Is Ending - Key Upcoming Dates For Europe's Patient Zero

 

 

Rubin: Gingrich out for revenge (Washington Post) [ Yes, newt … revenge is sweet and so are you … Your reward: a message and a song to sing as you pine away about what was your day … Sweet slimy newt, once again from beyond, Frank’s got just the sultry sound to soothe your vengeful, restless spirit, so sing it snooty newty (but stay away from any new booty) :

FRANK SINATRA LYRICS: " I WANNA BE AROUND "
(J. Mercer, S. Vimmerstadt)
[Recorded June 9, 1964, Los Angeles]
I wanna be around to pick up the pieces when somebody breaks your heart,
Somebody twice as smart as I.
Somebody who will swear to be true like you used to do with me,
Who'll leave you to learn that misery loves company, wait and see.
I wanna be around to see how he does it when he breaks your heart to bits,
Let's see if the puzzle fits, so fine,
And that's when I'll discover that revenge is sweet,
As I sit there applauding from a front row seat,
When somebody breaks your heart like you broke mine.
That's when I'll discover that revenge is sweet,
As I sit there applauding from a front row seat,
When somebody breaks your heart like you broke mine,
Like you, like you broke mine.

Call him irresponsible - call him unreliable
Throw in undependable too
Do his foolish alibis bore you
Well he’s not too clever – he just adores trumpish people we should boo

Call him unpredictable - tell him he’s impractical
Pots of gold at ends of rainbows he’s inclined to pursue
Call him irresponsible - yes newt’s unreliable
But it's undeniably true – newt’s irresponsibly mad for madman trump et als too

 

 

 

 

Downward revision for home sales Does it mean home sales and the real estate economy is far worse than we thought?  (Washington Post) [ The reality of ‘this flavor’ of ponzi scheme that I’ve termed ‘data ponzi scheme’ cannot be ignored; particularly with the deleterious results to follow therefrom. There are all sorts of ponzi schemes currently in play, so rife with corruption this nation (world) has become. ,  Would A Ponzi By Any Other Name Smell As Bad?The bond market has always had clever names for bonds in specific markets.  Eurobonds, Yankee bonds, Samurai bonds, and now, Ponzi bonds.  I’m not sure what else to call these new bonds, but Ponzi bonds seems as good as anything. NBG issued these bonds to themselves, got a Greek government guarantee (how can a country that can’t borrow, provide a guarantee?) and took these bonds to the ECB to get some financing. , France revises 3rd quarter growth down (Washington Post) [ Look! Voila! They’re even adopting pervasively corrupt, defacto bankrupt america’s ‘data ponzi schemes’ along with those of the financial variety. Economy grew more slowly in the summer than previously thought (Washington Post) [ Yeah! Riiiiight! That, an approximately 35% difference; no small matter. Indeed, much like the ‘financial ponzi scheme’ being run out of washington, there’s a ‘fake / inflated’ ‘data ponzi scheme’ being run (particularly in this desperate election cycle) wherein the better than expected inflated (or deflated as in fake/manipulated unemployment numbers) are put out there for the spike in stock prices, with similar tact when reality catches up with the false data (as here, or the inflated housing numbers yesterday, ue numbers, etc.). Needless to say, as with ponzi schemes, reality always catches up, at great expense / damage to many, having benefited the few (ie., frauds on wall street, undeserving pols, etc.). All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.--Arthur Schopenhauer

 

 

A contest for commander in grief Have you ever seen a glummer or grouchier bunch of presidential candidates? Not likely. (Washington Post) [ I’m totally astounded by the tenor of this article’s headline, which I hope conveys my profound disappointment in the so-called author and whatever purported journalistic abilities lie therein. I mean, if a journalist / reporter at The Washington Post doesn’t fathom the depth of this nation’s (and the multitude of other nations globally) problems fiscally, economically, financially, politically, geo-politcally, one truly has to wonder who does. The outlook is bleak, as in grim, as in gloomy, as in dire. That really is reality, and more people really must come to grips with, yes, realistically, factually, grim reality. There has never been a more grim, gloomy reality for this nation particularly among other nations. To have that now notorious albeit artful b***s*** artist wobama ‘toolin’ around’ with a smile that more appropriately suits a look fitting the village idiot is a further testament to wobama’s utter failure as president and unfitness for office. Well deserved criticism for wobama’s glaring failures and broken promises and incompetence which in sum have contributed mightily to the nation’s now insurmountable predicament, owing to wobama’s innate character flaws ‘to be marked as typical’ is to wobama as water is to a duck’s back. He’s pulled the con and is content with his failed tenure. Really! He’s all that bad; and, the scenario he’s in large part now responsible for is all that grim. Really! … And … No! I will not waste my time reading this meaningless fluff-piece! ( http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , Presenting 2011's Top 10 Most Corrupt American Politicians  ) and as well, insurmountably defacto bankrupt ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks … We’re broke for a reason. We’ve spent six decades accumulating a huge official debt (U.S. Treasury bills and bonds) and vastly larger unofficial debts to pay for Social Security, Medicare, and Medicaid benefits to today’s and tomorrow’s 100 million-plus retirees. The government’s total indebtedness — its fiscal gap — now stands at $211 trillion’ ) !

 

 

 

Indecision 2012 Iowa’s uncertainty reflects a struggling GOP. (Washington Post) [ While I have no reason to come to the gop’s defense (after all, my litmus test, the corrupted RICO matters spans both parties and corrupted elements therein including a sitting supreme court justice, alito et als, infra, see, ie.,  http://albertpeia.com/fbimartinezcongallard.htm   ,  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm     ), if wobama aficionado / apologist Mr. Milbank confronts the record, 2008 – 2012, from having congressional and executive control to this total ball of confusion which defies all wobama’s campaign promises (which if kept would have substantially improved, though still ominous, this nation’s exceedingly grim prospects), I truly believe Mr. Milbank would be constrained by reality to agree that the dems at best have struggled and at worst have blatantly failed

 

Oil prices surge after Iran sends warning aimed at U.S. ships U.S. officials attribute Tuesday’s harsh language to Iran’s growing frustration over its faltering economy (Washington Post) [ It seems the u.s. / israel have predictably made up their minds to contrive yet another pro-israeli conflict by, ultimately in essence, cruising for a worldwide bruising. Indeed, the bankruptcy of american airlines is a testament to their misguided, self-defeating, self-destructive short-term thinking, with more and worse to follow. { amr closing price $0.29 – Briefly, if analyzing airline securities, one must always recognize the capital-intensive nature of the industry – expensive equipment; viz., the planes. The focus (in addition to the foregoing capital budgeting task) for analysis and projections for the industry and then the particular company are primarily fuel costs and (passenger) load factors (enabling projection of the income statement / earnings per share). Southwest has consistently managed both best. } Guest Post: War Imminent In Straits Of Hormuz? $200 A Barrel Oil?

 

 

No land of opportunity GOP critics ignore why America has declined. (Washington Post) [ I believe Mr. Meyerson’s headline to be true, important and one which speaks for itself without qualification, even by Mr. Meyerson himself (of course it is Mr. Meyerson’s article). But even a cursory examination of unequivocally failed president wobama’s failed predecessor, war criminal dumbya bush, hank paulson, et als including the massive wall street frauds, war profiteering, etc., and corruption so deep and far-reaching so as to make partisan labels virtually meaningless. It’s truly the pervasive corruption (and short end money) in america that’s led to a structural shift that literally cannot be undone; that ‘bell cannot be unrung’. That wobama et als approach is an abject failure is a safe bet; indeed, because he et als have been abject failures in their ‘election-year mission and purpose’ as stated. Moreover, there’s been very little difference between the parties in creating this very circumstance as alluded to by Mr. Meyerson. Yet, I believe Mr. Meyerson must ask himself and others as to what effect those funds to bail out the wall street frauds still extant in the trillions (now marked literally to anything as per misguided legislated FASB rule change); and funds frittered away in foreign lands for the benefit of war profiteers / military industrial complex would have been on the nation’s citizenry / prospects if spent domestically.  Literally, fortunes were made through misguided action / corruption at the expense of the many and that has become standard operating procedure and a bi-partisan reality that all the ruminating in the world won’t change. I agree with Mr. Meyerson that america is ‘no land of opportunity’ (30 Statistics That Show That The Middle Class Is Dying Right In Front Of Our Eyes As We Enter 2012   The Economic Collapse see the 30 statisics here ). At the same time I’m constrained to remind him that america’s pervasively corrupt ( http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , Presenting 2011's Top 10 Most Corrupt American Politicians  ) and as well, insurmountably defacto bankrupt ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks … We’re broke for a reason. We’ve spent six decades accumulating a huge official debt (U.S. Treasury bills and bonds) and vastly larger unofficial debts to pay for Social Security, Medicare, and Medicaid benefits to today’s and tomorrow’s 100 million-plus retirees. The government’s total indebtedness — its fiscal gap — now stands at $211 trillion’ ) !

 

 

 

 

Unemployment rate drops to 8.5 percent A burst of hiring in December pushed the unemployment rate to its lowest level in nearly three years, giving the economy a boost at the end of 2011. The Labor Department says employers added a net 200,000 jobs last month and the unemployment rate fell to 8.5 percent, the lowest since February 2009. The rate has dropped for four straight months. (Washington Post) [ Come on! Who’s foolish enough to believe this latest desperate election year addition to their ‘data ponzi scheme’. Oh sure, there may have been some retail temp hires among other ‘temp hires’ (one day for one day’s pay, thank you very much). And, at what cost for them even if believed? (  Drudgereport: Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...  ,  Obama's Legacy: A Failed Recovery & Double-Dip Recession  Forbes / Mariotti  ‘…There will be no significant recovery in the United States of America while Barack Obama is President.  The evidence is overwhelming:  everything Obama has tried to fuel a recovery (with his Democratic allies in Congress) has failed.  Statistics claiming jobs saved by the stimulus package were mostly fiction, and cost American taxpayers about $275,000 each.  Nearly 2-1/2 million fewer Americans have jobs than before the stimulus… Obamacare, a program that doesn’t create jobs, but might destroy a lot of them.  He “bailed out” GM, but many believe that his interference didn’t save GM; it merely cost taxpayers an extra $15-20 billion, and stole from legitimate investors to buy off the UAW.  His broken campaign promises are too numerous to list.  At some point, his statute of limitations on blaming Bush runs out…’ ,   Double-Dip Recession a Foregone Conclusion: Roubini  , etc. ) .

 

 

Obama’s justifiable ‘power grab’ The Senate’s obstructionism justifies the president’s recess appointments. (Washington Post) [ The Senate? With a democrat majority … I’m just once again astounded and almost at a loss for words! ‘All the wrong moves’, once ascribed to failed president bush 2 by none other jive-talking ‘sham-man-sharpy’ sharpton. Yet, haven’t all wobama’s move’s been the wrong moves, his campaign words belied by his now proven misguided actions; which actions most currently are a desperate attempt to unctuously appeal to the electorate that have been proven foolish to have trusted him in the first instance. Given america’s defacto bankruptcy and wildly profligate spending by wobama exceeding by far all others (and the last several combined) thereby exacerbating america’s dire predicament  (Dire predicament, forecast, time to ‘get out of Dodge’  http://albertpeia.com/forecastusdebtgetoutofdodge.htm  ) it was nothing short of pathetic to hear of wobama’s pre-election year military budget cuts while bragging that his military budget allocation still exceeds that of bush failure 2. Some companies won’t even hire until wobama’s out ( Drudgereport:  COMPANY SHOCK: 'WE'RE NOT HIRING UNTIL OBAMA GONE'  ) (, 34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   ‘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…

 

 

 

 

 

Tech predictions for 2012COLUMN | From market bubbles to tablets, Wadhwa gives his five predictions for technology in 2012. (Washington Post) [ This generally comports with my own view that american (global) technology is vastly over-rated. The biggest strides (ie. The Internet, etc.) have been made and capital constraints are a bigger factor than ever. There’s really nothing new here; yet mention of the ‘pricing power’ dilemma in light of the actual cost of most such devices (also in terms of functionality) as mentioned, including pc’s and ‘macs’, is on the mark. I disagree that a rush to trust in ‘cloudburst’ is in the cards in as big a way as cited; but rather a bust, for the reasons set forth among others (ie., access, control, ‘nefarious elements’, ‘hackability one way or another, inside or out’, etc.).

 

Falling jobless rate is good news for Obama — but the trend is fragile GOP strategists said an improved labor market could complicate a potent argument against Obama. Will the trend last? (Washington Post) [ Fragile indeed! Why? Because it’s not real! Will the trend last? To election day at best, when their incentive for such gross distortions, manipulations, and outright deceit is no longer pressing! ( 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 1984The nonfarm payroll number prints at 200K on expectations of 155K. The Unemployment rate comes at 8.5% - lowest since February 2009, and down from an upward revised 8.7%. U-6 15.2% down from 15.6% in November. Average hourly earnings rose at 0.2%, in line with expectations, previous revised to -0.1% from unchanged. Private payrolls +212L vs Expectations of 178K. Manufacturing payrolls rose 23K vs Expectations of 155K. 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 ,  ) . ( 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!

 

 

Milbank: Gingrich campaign on an ego trip (Washington Post) [ Sweet Mr. Milbank, wobama aficionado / apologist, gets this right. While slimy newt can’t be accused of being the ‘gingrinch who stole Christmas’ having bestowed a grand albeit self-collapsing yuletide greeting / gift on his opponents, the slimy newt has good reason to be on an ego trip. After all, what other candidates can boast of and be said to have been the subject of and captured the attention and spirit through song from beyond of none other than Frank himself: Rubin: Gingrich out for revenge (WP) [ Yes, newt … revenge is sweet and so are you … Your reward: a message and a song to sing as you pine away about what was your day … Sweet slimy newt, once again from beyond, Frank’s got just the sultry sound to soothe your vengeful, restless spirit, so sing it snooty newty (but stay away from any new booty) :

FRANK SINATRA LYRICS: " I WANNA BE AROUND "
(J. Mercer, S. Vimmerstadt)
[Recorded June 9, 1964, Los Angeles]
I wanna be around to pick up the pieces when somebody breaks your heart,
Somebody twice as smart as I.

That's when I'll discover that revenge is sweet,
As I sit there applauding from a front row seat,
When somebody breaks your heart like you broke mine,
Like you, like you broke mine.

Call him irresponsible - call him unreliable
Throw in undependable too
Do his foolish alibis bore you
Well he’s not too clever – he just adores trumpish people we should boo

Call him unpredictable - tell him he’s impractical
Pots of gold at ends of rainbows he’s inclined to pursue
Call him irresponsible - yes newt’s unreliable
But it's undeniably true – newt’s irresponsibly mad for madman trump et als too

 

 

Euro might be facing long-term fall Currency’s downward slide reflects Europe’s worsening economic conditions, analysts say. (Washington Post) [ Might be? The aforesaid statement sounds more like an exercise in ‘profound sarcasm’; you know, that ‘tongue in cheek’ platitudinous query in league with the likes of ‘Is the Pope Catholic’, ‘do bears s*** in the woods’, etc.. Suffice it to say by way of understatement, things are not looking up for the euro! The End Of The Euro And The End Of The Investor The Automatic Earth , Look Out Below – The Nightmarish Decline Of The Euro Has Begun  http://theeconomiccollapseblog.com  , Here We Go Again: US $25 Million Away From Debt Ceiling BreachEURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials Zero Hedge , Top Three Central Banks Account For Up To 25% Of Developed World GDP Japanese Zombie Banks Perfected By EuropeansBarclays Estimates ECB Losses On Bond Purchases At €30 Billion, Or Nearly Half Of Eurosystem CapitalSarkozy Threatens With War If Euro FailsArt Cashin Explains What Is Really Happening In Iran Guest Post: Be Careful What You Wish For, Such As ECB Printing Money

Obama missing the mark on defense? President Obama’s defense strategy — and the assumptions underlying it — need a closer look. (Washington Post) [ I really don’t know what the editorial board really is; but that’s the only reason I’m commenting here (on this one) given their most recent, shocking ‘contributions’ to the discourse. First, let’s begin with a  fundamental reality; viz., america is hopelessly and insurmountably defacto bankrupt (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   ‘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…). Second, I’d 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 nation’s debt. What need’s 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 doesn’t matter so much what they say, as it does what they do. A glaring example is the ‘war on drugs’ given america’s unequivocal involvement in same (infra). As for wobama missing the mark on defense, there isn’t anything whatsoever that wobama hasn’t 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 Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv ,    Role as political insider in Washington made Rick Santorum a millionaireAfter losing reelection bid in 2006, he capitalized on experience with a profitable career on K Street. (Washington Post)

 

 

 

 

 

Running in the Red A continuing series that examines the origins and consequences of the nation’s escalating debt. [ Red indeed … as in the ‘color of blood’ … as in the jeopardy answer in the form of a question, ‘what the streets will run red in?’ ]  Medicare’s immediate, inescapable problem (Washington Post) [ The importance of the foregoing  topic(s) cannot be overstated. The situation is dire and the outlook worse than ominous. (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   ‘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

 

 

France, Germany tell Greece to make debt deal The European Union’s key powers warned Greece that rescue funds will be held back unless the country makes a deal soon with the banks holding its debt. (Washington Post) [ Deh, deh deh deh, dehhhhh! Oooooh! Them’s fightin’ words … their way or the highway … like we didn’t see that comin’. Actually, the situation’s all that grim there { Graham Summers’ Weekly Market Forecast (Nothing’s Changed Edition) http://gainspainscapital.com January 9th, 2012 We are now into the second week of 2012 and frankly I can’t see any fundamental reason to be bullish…

 

 

Obama continues trend of turning to budget director in time of trouble Lew’s replacement of Daley as chief of staff reflects anticipation of fight with Congress on payroll tax. (Washington Post) [ Let’s not sugar-coat the reality here! Given america’s defacto bankruptcy and wildly profligate spending by wobama exceeding by far all others (and the last several combined) thereby exacerbating america’s 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 wobama’s pre-election year military budget cuts while bragging that his military budget allocation still exceeds that of bush failure 2. Some companies won’t even hire until wobama’s 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’. Romney’s 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. Wobama’s are as ‘rich’, disingenuous to say otherwise, and his routine, namely b***s***, is past ‘getting old’. After all, wobama can’t run on his clear record of failure as bush failure 3 with what turns out as before, b***s*** alone. The problem is that there’s nothing that can be said of the republican offerings (except Ron Paul) for which it can’t be said of wobama that he’s 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 staff’s 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 Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.         

 

 

The two faces of Newt Gingrich With few campaign advisers to keep him on track, the candidate is showing his nasty side. (Washington Post) [ Yes indeed, we see ‘both sides now’ of ‘nasty newt’; as ominously warned by the sound from beyond of none other but Frank { Performed by

Frank Sinatra 1968, Written by Joni Mitchell First release Both Sides Now by Judy Collins on audio album Wildflowers (November 1967) }

In N.H., Romney steps up attacks on Gingrich(Washington Post) [ Yeah … he’d better get going, ratchet up the rhetoric; after all, slimy newt’s just gotten the endorsement of ‘celebrity mobster madman’s (trump’s) apprentice’, ‘gary the b’ (for berserk) busey (most notable for his role in the film ‘Tomcats’ as the guy with only half a pair of b**ls!) (Drudgereport: Gary Busey Endorses Gingrich... ). Five myths about Ron Paul  (WP) [ For me, the litmus test for any candidate, though somewhat personalized, is generally applicable to the entire national electorate. It falls within that very broad category; viz., ‘been there, done that’. It is no mystery that the current wobama regime, et als are trying in every which way to censor, obstruct, and otherwise control the free-flow of information, particularly now the internet, which really works against failed administrations as that currently in place. By every measure you can gauge the success or failure of a presidency, wobama the b for b***s*** is an abject failure. There is not one reason based upon what he said he would do last time around, didn’t do, but as we now know had he done as he said the nation would have clearly been better off this day. He basically continued the policies of the prior failed presidency of war criminal dumbya bush, including the same or similarly connected players, despite having campaigned vociferously condemning same  (CIA lawyer says Obama administration backed and continued virtually all Bush-era programs Natural News ). Clinton was the luckiest of all recent presidents in having the benefit of the peace dividend to smooth things over, by way of the one and only but very significant accomplishment of Reagan / Gorbachev; yet, he found ways through deep-seated mental issues to fail, which we all endured as if watching a soap opera unfold. Incompetent george h.w. bush (‘poppy’) was basically the ‘cia in disguise’ which kept up the ops which included that snookering of then american proxy, sadam hussein, by u.s. ambassador april glaspie (see more here infra) (george h.w.bush was also ambassador to communist china and we all know how that’s turned out for america; but, ‘they’ and ‘theirs’ have made a bundle.. poppy and clinton were tied by ‘virtue’ of their cia / Mena, Arkansas cocaine drop / connection [ for me that connection was devastating to my RICO case which involved the laundering of drug money through the trump casinos in atlantic city,n.j., and poppy is after all, war criminal dumbya bush’s father ( see ie., http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm     , and, america also leads in the illegal drug trade, infra ) . .. calls for impeachment ..‘fast and furious debacle’.  Despite campaign promises, there have been no high level prosecutions of the wall street frauds which are still extant in the trillions. That ‘8%’ unemployment; don’t completely dismiss same as they may just have enough of their stand-ins to work exactly 1 day to be counted;that’s at best... as they’ve done, manipulate/fudge/outright lie about the numbers (actual unemployment is beyond 15%). Gingrich actually carved out exceptions for fraudulent wall street to the applicability of the RICO Act to their frauds, among many other unscrupulous acts which will emerge; along with having sought the endorsement of mobster, mental case trump.. romney follows suit with a trip to kiss the ring of failed president poppy bush while cow-towing as all but Paul to the israeli lobby. So I, as should be so for the entire nation, say results count. (For me, it’s resolution of those corrupted RICO matters). Reality counts. What’s gone before has failed;new direction, policies are required. After all, Einstein did say, paraphrasing, ‘doing the same thing over and over again and expecting a different result’ is insanity. Ron Paul’s still standing!

 

Both Sides Now ( actual lyrics – This is a great song and among those I ‘play’ on the guitar! )

 

Rows and flows of angel hair
And ice cream castles in the air
And feather canyons ev'rywhere
I've looked at clouds that way

But now they only block the sun
They rain and snow on ev'ryone
So many things I would have done
But clouds got in my way
I've looked at clouds from both sides now

From up and down, and still somehow
It's cloud illusions I recall
I really don't know clouds at all

Moons and Junes and Ferris wheels
The dizzy dancing way you feel
As ev'ry fairy tale comes real
I've looked at love that way

But now it's just another show
You leave 'em laughing when you go
And if you care, don't let them know
Don't give yourself away

I've looked at love from both sides now
From give and take, and still somehow
It's love's illusions I recall
I really don't know love at all

Tears and fears and feeling proud
To say "I love you" right out loud
Dreams and schemes and circus crowds
I've looked at life that way

But now old friends are acting strange
They shake their heads, they say I've changed
Well something's lost, but something's gained
In living ev'ry day

I've looked at life from both sides now
From win and lose and still somehow
It's life's illusions I recall
I really don't know life at all
I've looked at life from both sides now
From up and dawn, and still somehow
It's life's illusions I recall
I really don't know life at all

 

 

Romney’s money problem His nomination may be near, but his routine is getting a bit rich. (Washington Post) [ Yet another of those ‘aw come on wobama lover Mr. Milbank moments’. I mean really. Wobama’s are as ‘rich’, and disingenuous at best to say otherwise, and his routine, namely b***s***, is past ‘getting old’. After all, wobama can’t run on his clear record of failure as bush failure 3 with what turns out as before, b***s*** alone. The problem is that there’s nothing that can be said of the republican offerings (except Ron Paul) for which it can’t be said of wobama that he’s 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 staff’s 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... 

 

 

Irans sense of gloom contrasts with U.S. hope With U.S. officials growing more confident that economic, political pressure may curb Irans nuclear ambitions, mood in Tehran turns bleak as Iranians prepare for a period of prolonged hardship and, they fear, war (Washington Post) [ Wow! This is as ridiculous an article as I’ve ever not read (It is an insult to intelligence to go beyond this preposterous headline). Seriously, are these ‘journalists of late’ drinking ‘hopium-laced kool aid’? Sure sounds like it! After all, there’s certainly no mystery regarding the self-serving, self-interested nature of the ‘financial press’ such as it is, (ie., Why You Should Run When Wall Street Says Buy Simon Maierhofer | ETFguide   ‘A quick scan of analysts' 2012 forecasts shows that most of Wall Street expects stocks to rise in 2012. Before you get excited, consider this:

'Five Wall Street heavyweights say it's time for individual investors to shun the perceived safety of bonds and get over their fear of the U.S. stock market so they can take advantage of what they predict will be a third straight year of solid gains for stocks in 2011.'

Before you go out and buy stocks, beware that you just read the 2011 outlook printed on the front page of USA Today's December 17, 2010 edition. USA Today wasn't the only one distributing Wall Street's Kool Aid.

'Outlook 2011 - 10 strategists see the S&P 500 finishing next year at 1,373' - Barrons, December 18, 2010

'Long way from dog days: 2011 might see record Dow' - AP, December 17, 2011

'Greenspan says U.S. economy is gaining momentum, may expend 3.5% next year' - Bloomberg, December 17, 2010

2011 Casualty Report

Wall Street's bullish outlook paid off for the first 34 trading days of 2011, but starting in mid-February the major U.S. indexes a la Dow Jones (DJI: ^DJI - News), S&P 500 (SNP: ^GSPC - News), Nasdaq (Nasdaq: ^IXIC - News) and Russell 2000 (NYSEArca: IWM - News) suffered a series of set backs…); yet, it defies credulity given the dire circumstances of pervasively corrupt, defacto bankrupt america for which the decline and fall currently in motion is far, far greater in absolute and even relative terms. I think it’s time for mainstream american press to turn in their pens / computers for more appropriate to their performance as ‘journalists’, pom-poms. Dire predicament, forecast, time to get out of Dodge  http://albertpeia.com/forecastusdebtgetoutofdodge.htm

 

 

For those hurting most, Fed’s remedies limited The limited policies the Federal Reserve has at its disposal mostly put money in the hands of the affluent. But a wide range of research shows that instead of spending that money, wealthier people are more likely to save it, doing little to foster economic activity. (Washington Post) [ Yeah … the outcry is resounding; viz., fed, don’t hurt us any more (than you have already)! As to money put in the hands of the affluent, anyone with even a modicum of financial, economic, and accounting knowledge coupled with even a small dose of general intelligence and common sense realizes, certainly by now (though warned), that that’s always been the fed’s intent and purpose first and foremost, the general populace (taxpayers) be damned, regardless of their somewhat egalitarian rhetoric (and ubiquitous spin) to the contrary. Guest Post: Why Bernanke Has Failed, And Will Continue To FailBen Bernanke's zero-interest rate policy (ZIRP) and command-economy efforts to maintain mispricing of risk, debt and assets are destroying capital and capitalism. No wonder his policies have failed so miserably. Bernanke's policy is to punish capital accumulation and reward leveraged debt expansion. Rather than enforce the market's discipline and transparent pricing of risk, debt and assets, Bernanke has explicitly set out to re-inflate a destructive, massively unproductive credit bubble…,… Is Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This catering to fraudulent wall street was a loser ab initio! That so-called ‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan and failed miserably except for the frauds on wall street who commissioned up and down; and, make no mistake, those computer-programmed high-frequency trading volumes have now been maximized for nation-economy-draining profits for the frauds like never before and have never been higher. The QE and dollar-debasement policies were always predictably inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that was but in reality good only for the frauds on wall street. No, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. ] ..  The standard unemployment rate most often used by the Fed is currently at 9.1%, up 90% since Bernanke started.  The more inclusive (realistic) U6 number stands at 15.8%, up 75% in the same period.  The Civilian Participation Rate has declined 2.87% to 64.2%.This is the lowest level the U.S. has seen since March, 1984.  The decline amounts to 8,946,844 fewer Americans in the labor force.  Had they not dropped out because of a lack of jobs (as now), the “official” unemployment rate would be significantly higher (as now)…    

 

 

Milbank: Candidates for sale (Washington Post) [ Mr. Milbank’s truly outdone himself this time. A known ‘wobama the b for b***s***’ aficionado/enthusiast/defender/apologist (pathetic in and of itself), Mr. Milbank forgets to first include the already bought failed president, none other than  ‘wobama the b for b***s***’ who did not do what he campaigned on doing precisely because he was bought. Wobama’s such a glomming golem / slug. Barack Obama: The Naked Emperor Shocking but true revelations from David Icke|  infra ‘...Obama is just more of the same, a big smile with strings attached, and controlled completely by those that chose him, trained him, sold him and provided his record funding, kept his many skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to be with your Presidential camp, who is alleged to claim that someone claiming to represent me called asking for $100,000, to keep me from coming forward about our (Obama and I) November 1999 encounter of sex and cocaine use?), ... Obama is just another Banksters' moll prostituting himself .., and that's why he supported the grotesque bail-out of the banking system and why he will always put their interests before the people. His financial advisors are straight from the Wall Street 'A' list, including Paul Adolph Volker (Trilateral Commission, Council on Foreign Relations, Bilderberg Group), the head of the Federal Reserve from 1979 to 1987 and Illuminati to his fingertips. Obama has made him head of the Economic Recovery Advisory Board, which is dominated by insiders, including its staff director and chief economist, Austan Goolsbee, a close Obama associate from the University of Chicago. Goolsbee is an initiate of the infamous Illuminati Skull and Bones Society at Yale University, which also includes Boy and Father Bush. It was Goolsbee who told the Canadian government not to worry about Obama's attacks on the economic effects of free trade agreements because his words were just to win votes in the election campaign. Another Wall Street insider, the Zionist Timothy Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign Relations), was appointed by Obama to be his Treasury Secretary. Geithner was the President of the New York Federal Reserve Bank, the most powerful in the private Federal Reserve cartel that masquerades as America's central bank, and he is a former employee of both the Council on Foreign Relations and the appalling Kissinger Associates. Obama's Treasury team locks into the inner circle around the Zionist Robert Rubin, the Director and Senior Counselor of Citigroup, co-chairman of the Council on Foreign Relations, and economic advisor to Obama. Rubin, a member of the Illuminati Bilderberg Group, was the man behind Citigroup's strategy of expanding its risk in debt markets which forced it to be rescued by taxpayers' money. The very people who caused the financial crisis are being appointed by Obama to decide how to respond to it (more taxpayers' money for them and their friends)’

 

 

2011's foreclosure rate lowest since ‘07 But RealtyTrac cautions that the decline does not necessarily indicate that the housing market is getting better. (Washington Post) [ It was not long ago that the so-called data they’ve provided going back several years was not real at all. Yet, even assuming arguendo the same as true, with some implicit nudging from washington in this election year, I think this temporary phenomenon reflects the reality of the marketplace and the plethora of inventory; viz, foreclose, sell, to whom? Many lenders are opting for ‘care-taking of the property’ despite default on this multitude of ‘underwater’ properties with worse to come despite the addictive ‘hopium’ factor. Apartment construction spurs 9.3 pct. jump in housing starts, but level remains low Associated Press  (Washington Post) [ ‘All dressed up, and no where to go’. Apartments? Sure, when they leave those underwater / foreclosed homes they’ll need someplace to go, assuming you believe this election year ‘data point’ which isn’t that good to begin with (‘…Still, the rate is far below the 1.2 million homes that economists say would be built each year in a healthy housing market…’). But come on! … scandal-scarred commerce department? … election-year desperation? … I don’t believe the numbers for a second, even if they were viable (they’re not).

 

 

 

 

40% of Americans Are Now Independent. Independents Would Vote for Paul Over Obama : George Washington : 01/11/2012 Independents would elect Paul over Obama.

 

Ron Paul: People Call Me ‘Kooky’ Because They Can’t Defend Themselves Intellectually Steve Watson | Blasts MSNBC Pundit for “putting words in my mouth”. { Remember this truth: All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.--Arthur Schopenhauer }

Meet the White Obama Kurt Nimmo | Romney is basically indistinguishable from Obama and supports the same globalist agenda.

US-Backed Terror Group Responsible For Assassination of Iranian Nuclear Scientist Paul Joseph Watson | Support for terrorist organization part of covert war to topple Iranian regime.

Santorum: Eradicate the Muslims Kurt Nimmo | Only Ron Paul stands in opposition to the global elites war against Islam and Iran.

Bilderberg Elitist Charlie Rose Invokes Ron Paul Electability Myth Paul Joseph Watson | Polls show Paul is the most electable candidate out of all the Republican challengers to Romney.

Good News for Ron Paul: Florida May Allow Proportional Delegates Kurt Nimmo | Florida may change from winner take all to representation system.

Ron Paul Is The Only Candidate With The Momentum to Challenge Romney Paul Joseph Watson | Gingrich, Santorum, Huntsman campaigns are all collapsing.


America is now controlled by ‘Enemies Inside its Gates’ YouTube | Do not underestimate the financial and political power behind the Israeli lobby in America.


Five myths about Ron Paul  (WP)

 

 

 

Manufacturing jobs are coming back The strongest two-year growth since the late 1990s. (Washington Post) [ Wow! Talk about ‘hopium addiction’ and the ‘hallucinagenic/delusional’ effects therefrom. Clearly, the Editorial Board’s dreamin’ in this piece which probably should have been left for the more ‘business saavy’ at, ie., Bloomberg, etc.. There has been a structural shift that cannot be undone. A somewhat shocking example included the manufacture of some of those rather trite ‘american flag’ pins … ‘Made in China’ …Woe! … Well, that’s an easy one to bring back home; yet, if you’re familiar with financial statements, cost accounting, etc., more complex endeavors particularly, not so fast.  Obama weighs proposals to create jobs The president plans to reward companies that bring jobs back to the U.S. and eliminate tax breaks for those that move jobs overseas. (Washington Post) [ Read my lips: ‘the bell cannot be unrung!’ They couldn’t afford to make up the difference; not by a long shot.   Excerpt: ‘… #10 Our economic infrastructure is being torn apart right in front of our eyes.  In 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 have made it legal for big corporations to send millions of jobs to countries where it is legal to pay slave labor wages, where the tax burden is much lighter and where there are barely any regulations.  The following is a brief excerpt from a recent article posted on Economy in Crisis....

Back in the ‘80s, I called my friend Walter in California and asked: “On your next expansion we need a plant in South Carolina.” Walter replied: “We don’t produce anything in the United States. It’s all in China. China furnishes you the plant on a year-to-year basis. If your investment works out, you don’t have to pay any corporate tax; just reinvest it for another plant and more profit. If it doesn’t work out, you can walk away with no legacy costs. I send a quality controller to watch production. I check on it every day. I don’t have any labor, health, safety, or environmental concerns, and have time to play a round of golf.” The bleeding of jobs off-shore started in the ‘80s — now hemorrhages under Bush and Obama. Waiting for the economy to bounce back; calling this “the worst recession” is a bum rap. The reason the economy hasn’t bounced back since 2008 is because the economy is being off-shored…’

 

 24 Statistics To Show To Anyone Who Believes That America Has A Bright Economic Future  http://albertpeia.com/24statisticsusfuturenotbright.htm  ,  http://theeconomiccollapseblog.com   ‘Beware of bubbles of false hope.  Right now there is a lot of talk about how the U.S. economy is improving, but it is all a lie.  The mainstream media can be very seductive…’ 

 

 

 

 

As financial crisis loomed, Fed leaders lionized Greenspan, documents show Many economists now say the former chairman contributed to the crisis and the resulting recession (Washington Post) [ Indeed, what an incompetent, self-aggrandizing publicity hound the senile greenspan. As a one-time cobol-programmer, similarly ‘that unforeseeable thing’ regarding his $100,000 fee (back when $100,000 meant something – a lot of money as a fee- long before his/helicopter ben’s fed days) for a ‘clean bill of health’ for the S&L/bank that failed not long thereafter, he admittedly just never thought far enough ahead about that y2k, extra digit problem. For those hurting most, Fed’s remedies limited The limited policies the Federal Reserve has at its disposal mostly put money in the hands of the affluent. But a wide range of research shows that instead of spending that money, wealthier people are more likely to save it, doing little to foster economic activity. (Washington Post) [ Yeah … the outcry is resounding; viz., fed, don’t hurt us any more (than you have already)! As to money put in the hands of the affluent, anyone with even a modicum of financial, economic, and accounting knowledge coupled with even a small dose of general intelligence and common sense realizes, certainly by now (though warned), that that’s always been the fed’s intent and purpose first and foremost, the general populace (taxpayers) be damned, regardless of their somewhat egalitarian rhetoric (and ubiquitous spin) to the contrary. Guest Post: Why Bernanke Has Failed, And Will Continue To FailBen Bernanke's zero-interest rate policy (ZIRP) and command-economy efforts to maintain mispricing of risk, debt and assets are destroying capital and capitalism. No wonder his policies have failed so miserably. Bernanke's policy is to punish capital accumulation and reward leveraged debt expansion. Rather than enforce the market's discipline and transparent pricing of risk, debt and assets, Bernanke has explicitly set out to re-inflate a destructive, massively unproductive credit bubble…,… Is Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This catering to fraudulent wall street was a loser ab initio! That so-called ‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan and failed miserably except for the frauds on wall street who commissioned up and down; and, make no mistake, those computer-programmed high-frequency trading volumes have now been maximized for nation-economy-draining profits for the frauds like never before and have never been higher. The QE and dollar-debasement policies were always predictably inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that was but in reality good only for the frauds on wall street. No, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. ] ..  The standard unemployment rate most often used by the Fed is currently at 9.1%, up 90% since Bernanke started.  The more inclusive (realistic) U6 number stands at 15.8%, up 75% in the same period.  The Civilian Participation Rate has declined 2.87% to 64.2%.This is the lowest level the U.S. has seen since March, 1984.  The decline amounts to 8,946,844 fewer Americans in the labor force.  Had they not dropped out because of a lack of jobs (as now), the “official” unemployment rate would be significantly higher (as now)…    

 

 

Time running short for Greek debt deal Upcoming bond payments and the growing influence of investors threaten to undermine the process. (Washington Post) [ WAIT… WASN’T THE GREEK ISSUE SOLVED ALREADY? January 12th, 2012 http://gainspainscapital.com ‘Greece is in big trouble.I realize that 99% of commentators have completely missed this fact. After all throughout 2011 the mainstream financial media published stories claiming that the Greek Crisis was solved.However, the reality is that Greece remains in Crisis mode. The country has only 37 billion Euros left from its first bailout package. And the second bailout package is anything but guaranteed.

Indeed, as the below story reveals, the two financial backstops for Greece (the IMF and Germany) are in no place to pony up more cash.Analysis: IMF funds for Greece not assured IMF chief Christine Lagarde is warning Europe that Greeces economic prospects are deteriorating and the European Union will either have to pony up more money to rescue Athens or debt holders will have to stomach steeper losses.Unless the private sector or the EU contribute more to Greeces rescue, the International Monetary Fund will view the nations debt load as unsustainable and may be unwilling to deliver more funds, IMF sources told Reuters as Lagarde met with Germanys and Frances leaders in EuropeBut talks aimed at getting private-sector creditors to shoulder a bigger part of a new Greek bailout are going badly

 

 

Ron Paul’s achievement After a quarter-century in the wilderness, he’s within reach of putting his cause on the map. (Washington Post) [ At first blush, I thought by this headline this article to be Mr. Krauthammer’s vailed attempt at sarcasm. After all, as a jewish man himself, I’ve yet to see him take a position that could in any way be even remotely antithetical to israeli interests; and yet, one would have to be blind and dumb not to realize such zionist / pro-israeli policies as foolishly adopted by the u.s. have been unequivocally antithetical to american interests. The testament to the merger of contraindicated american ‘interests’ with selfishly construed israeli interests was that display of wildly cheering israeli agents on the banks of the palisades in Weehawken, n.j. at the sight of the burning / exploding / symmetrically imploding trade towers (including bldg. 7) on 911 (contriving such a ‘pearl harbor event’ a neocon / military industrial complex / israeli wet dream come true. Later history might even write this as the ‘albatross incident’ for america). The great but substantially underrated President General Eisenhower warned of the military industrial complex whose interests and welfare programs have merged with those of the militant illegal-nuke totin’ israelis whose interests suddenly merged into puppet-in-chief wobama despite wobama’s campaign rhetoric to the contrary upon which he was elected. Parenthetically, President Eisenhower never took any crap from the terrorist begin / israelis in contravention of American interests in the region.  I truly don’t know what being a libertarian means; but I do know that a junkie/thief/methamphetamine addict from virginia who stole some (very valuable to me) items from me here in Socal had a father who was one and he professed being one of sorts himself though questionable (ie., his ‘phony’ business card with an ‘in God we trust’ logo, etc.). The importance of Ron Paul is to point out the unsustainability of ‘same old / same old’ without reason, purpose, advantage to any but the very greedy short-sighted few, though substantially detrimental to the nation. After the cold war’s end, with peace dividend to grace clinton, the substantial achievement of Reagan / Gorbachev, if america had literally ‘done nothing’ rather than having embarked upon the ‘money-eating / war-profiteering’ adventurism along with ‘that engagement thing’ with communist china so hailed by former ambassador to china / cia man bush, no nation could have caught up to and passed america; some and then many have and are destined to do so (what the heck, decades at best anyway). The fed has failed all mandates for which it supposedly exists. They’ve literally helped consummate for the intended benefit of the few, frauds in the trillions, to the substantial detriment of the vast majority and the nation itself (among other culpable acts, ie., $4 trillion missing at the new york fed, over-printing of  the ever more worthless dollars, etc.). For the israeli lobby, reality is a frightful thing. For pervasively corrupt, defacto bankrupt america, reality is also a frightful thing. 

 

 

 

Obama weighs proposals to create jobs The president plans to reward companies that bring jobs back to the U.S. and eliminate tax breaks for those that move jobs overseas. (Washington Post) [ Read my lips: ‘the bell cannot be unrung!’ They couldn’t afford to make up the difference; not by a long shot.   Excerpt: ‘… #10 Our economic infrastructure is being torn apart right in front of our eyes.  In 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 have made it legal for big corporations to send millions of jobs to countries where it is legal to pay slave labor wages, where the tax burden is much lighter and where there are barely any regulations.  The following is a brief excerpt from a recent article posted on Economy in Crisis....Back in the 80s, I called my friend Walter in California and asked: On your next expansion we need a plant in South Carolina. Walter replied: We dont produce anything in the United States. Its all in China. China furnishes you the plant on a year-to-year basis. If your investment works out, you dont have to pay any corporate tax; just reinvest it for another plant and more profit. If it doesnt work out, you can walk away with no legacy costs. I send a quality controller to watch production. I check on it every day. I dont have any labor, health, safety, or environmental concerns, and have time to play a round of golf. The bleeding of jobs off-shore started in the 80s now hemorrhages under Bush and Obama. Waiting for the economy to bounce back; calling this the worst recession is a bum rap. The reason the economy hasnt bounced back since 2008 is because the economy is being off-shored…’ 24 Statistics To Show To Anyone Who Believes That America Has A Bright Economic Future  http://albertpeia.com/24statisticsusfuturenotbright.htm  ,  http://theeconomiccollapseblog.com   Beware of bubbles of false hope.  Right now there is a lot of talk about how the U.S. economy is improving, but it is all a lie.  The mainstream media can be very seductive’ 



 

 

 

Credit downgrades may worsen E.U. debt crisis Standard & Poors decision to lower the credit ratings of France and eight other countries is likely to raise borrowing costs across Europe and undermine the effectiveness of the regions bailout fund. (Washington Post) [ Duh! Ya think? The Real Dark Horse - S&P's Mass Downgrade FAQ May Have Just Hobbled The European Sovereign Debt Market

 

 

Putin Confidant: Israel Will Push U.S. Into Iran Attack Kurt Nimmo | Russians believe Iran capable of shutting down the Strait of Hormuz.

 

 

 

Milbank: Mitt Romney’s Al Gore problem (Washington Post) [ Wow! Al Gore? Talk about reachin’!  Oh yeah … Mr. Milbank’s egalitarian nature … include trashing a democrat to highlight his current anti-republican-front-runner purported ‘hit piece’. I guess when as Mr. Milbank you’re too incredible to be credible, the strained parallel is necessary to at least dupe a few into believing; kind of ‘the obama way’ which is what and all we’d expect from wobama aficionado / apologist Mr. Milbank. Well, Al Gore’s a safe bet / target, out of it in almost every way; yet, there’s John Kerry who, unlike Gore, is still ‘in the midst of things’ and capable of doin’ Mr. Milbank … well, just leave it at that for Mr. Milbank who gives the impression of one ‘fishin’ for a ‘mission’, or position, within this rather short-lived wobama regime or just plain lacking in journalistic courage. Lamentably for The Washington Post, that’s just one of the many differences between Mr. Milbank and Bob Woodward.

 

 

 

Ex-SEC official fined $50,000 Under a settlement, lawyer Spencer C. Barasch agreed to pay a fine for taking a job with an alleged Ponzi schemer. (Washington Post) [ Pervasively corrupt and defacto bankrupt, america is, from k street to wall street and coast to coast, a broken, fallen nation. Judge accuses SEC of misleading court Federal judge accuses the agency of misleading appeals court and withholding crucial information. (Washington Post) [ If it was only just the court that was being mislead, we might find some solace in that judge’s statement. Clearly one of those, ‘Duh … Ya think?’, moments. After all, caught ‘red-handed’ destroying inculpatory evidence against ‘the best and the brightest and most importatantly the biggest’ wall street frauds, goldman et als. You really can’t make this stuff up, so unbelievably contra-indicated to their mission and purpose this corruption blatantly is.( http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  ) Yet, such corruption has indeed become the ‘american way’ in every way. SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission destroyed documents and compromised enforcement case ...   Sen.Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ Report: SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a ‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were murdered by mafia / organized crime [ this was documented with authority in ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ]

 

 

OPINION | Petri: The dangers of the Stop Online Piracy Act  (Washington Post) [ Dangers, dangerous indeed! History is replete with such attempts to censor / restrict access to information; none of them positive outcomes; ie., nazi germany, repressive totalitarian regimes too numerous to list, with the pattern the same. Even more troublesome / problematic is the timing which coincides with the government’s widely criticized (online, deservingly and realistically so) incompetence in light of a debt / financial / economic crisis that although obfuscated by the government itself and mainstream media pliably derivatively thereby needs the independent scrutiny and discussion engendered by such egregious failure of government and their see, hear, speak no evil minions. Things are indeed that bad and would deteriorate far further and more rapidly by any attempt to put this ‘good genie’ back in the bottle. History, including that of recent vintage, shows such attempts invariably fail, inevitably planting as with the ‘Oedipal Effect’ the seeds of their own demise. Moreover, the freedom sought to be crushed in the name of something that won’t be effectively accomplished thereby is among the very, very few positive things that can be said of pervasively corrupt, defacto bankrupt america.

 

Treasury moves to keep federal government under debt limit  The department announced a maneuver involving a securities fund for federal employees to keep the government below the $15.2 trillion debt ceiling. (Washington Post) [ Sounds like a plan! Indeed, one that’s destined to become that which is attendant to a persistent reality. After all, so goes the rationale, why should the pension funds of fed employees be any more sacrosanct than the iou’d ‘social security trust fund’ of the taxpayers who pay for the less than stellar performance of those same federal employees and their compensation, benefits, pensions, among other perks / expenses. Particularly, this is so given the reality of the nation’s financial predicament with is far larger and as ominous as that of Europe, etc.. (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   http://albertpeia.com/34shockingfactsaboutusdebt.htm   We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family). 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  ]

 

U.S. losing high-tech manufacturing jobs as more operations move to Asia Expansion of science, engineering capabilities overseas pose economic challenge, board says. (Washington Post) [ Yes, indeed! Those ‘three r’s’ of business; viz., finance, accounting, and economics make this dilemma one particularly of american concern, also known as reality. Manufacturing jobs are coming back The strongest two-year growth since the late 1990s. (Washington Post) [ Wow! Talk about ‘hopium addiction’ and the ‘hallucinagenic/delusional’ effects therefrom. Clearly, the Editorial Board’s dreamin’ in this piece which probably should have been left for the more ‘business saavy’ at, ie., Bloomberg, etc.. There has been a structural shift that cannot be undone. A somewhat shocking example included the manufacture of some of those rather trite ‘american flag’ pins … ‘Made in China’ …Woe! … Well, that’s an easy one to bring back home; yet, if you’re familiar with financial statements, cost accounting, etc., more complex endeavors particularly, not so fast.  Obama weighs proposals to create jobs The president plans to reward companies that bring jobs back to the U.S. and eliminate tax breaks for those that move jobs overseas. (Washington Post) [ Read my lips: ‘the bell cannot be unrung!’ They couldn’t afford to make up the difference; not by a long shot.   Excerpt: ‘… #10 Our economic infrastructure is being torn apart right in front of our eyes.  In 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 have made it legal for big corporations to send millions of jobs to countries where it is legal to pay slave labor wages, where the tax burden is much lighter and where there are barely any regulations.  The following is a brief excerpt from a recent article posted on Economy in Crisis....

Back in the ‘80s, I called my friend Walter in California and asked: “On your next expansion we need a plant in South Carolina.” Walter replied: “We don’t produce anything in the United States. It’s all in China. China furnishes you the plant on a year-to-year basis. If your investment works out, you don’t have to pay any corporate tax; just reinvest it for another plant and more profit. If it doesn’t work out, you can walk away with no legacy costs. I send a quality controller to watch production. I check on it every day. I don’t have any labor, health, safety, or environmental concerns, and have time to play a round of golf.” The bleeding of jobs off-shore started in the ‘80s — now hemorrhages under Bush and Obama. Waiting for the economy to bounce back; calling this “the worst recession” is a bum rap. The reason the economy hasn’t bounced back since 2008 is because the economy is being off-shored…’

 

 24 Statistics To Show To Anyone Who Believes That America Has A Bright Economic Future  http://albertpeia.com/24statisticsusfuturenotbright.htm 

 

 

 

 

 

 

 

 

Hit Obama harder OMBUDSMAN | The Post must dig deep during the relection campaign, be hard-hitting on his record.  (Washington Post) [ I couldn’t 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. Wobama’s gotten by on ‘special consideration’, jive-talkin’, and b***s*** his entire life. A reality check concerning his last campaign promises relative to what he’s actually done is a grotesque exhibition of abject failure. There’s absolutely no excuse for what he’s done and not done; and, the Keystone debacle is just the latest example of many more travesties. Goin’ along for the ride? He’s been one, long schmooze. There’s really no record, other than that of complete and utter failure masked by … more b***s***.

 

Milbank: House GOP plays debt charades (Washington Post) [ Well, if there’s one thing that wobama and his minions know something about, clearly it’s debt. After all, wobama has increased the nation’s debt more than that of all the presidents from Eisenhower to date combined. That’s 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. (Washington Post) [ 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 should’ve been easy for the administration. (Washington Post) [ For the Editorial Board (or anyone else), their’s is the right call.

 

 

 (Washington Post) [ Rationality prevails! A credit to the ‘anti-pipa/sopa movement’, the internet being the final refuge for honest, intelligent dissent, discourse, information, and expression which has been saved and has created an important dichotomy; viz., those for and those against the freedoms of speech, expression which have long been held dear in this nation and a source of pride. Oh, as I’ve said before, there’s no question but that such freedom has indeed militated against such failed regimes as we see where stifled, including pervasively corrupt, defacto bankrupt america where such nations’ debilitating failings would otherwise at best be recognized and acted upon ‘too little and too late’, if at all. Such nations as are disposed to suppressing speech and the free flow of ideas remain exactly that; namely, failed nations for which all hope is lost, with such despair and purblindedness pervading even those upper echelons of power along with the masses which leaves said nations / regimes mere cripples, virtually paralyzed to rise to the occasion presented, despite short-term advantage in terms of ephemeral and fleeting control.

 

OPINION | Petri: The dangers of the Stop Online Piracy Act  (Washington Post) [ Dangers, dangerous indeed! History is replete with such attempts to censor / restrict access to information; none of them positive outcomes; ie., nazi germany, repressive totalitarian regimes too numerous to list, with the pattern the same. Even more troublesome / problematic is the timing which coincides with the government’s widely criticized (online, deservingly and realistically so) incompetence in light of a debt / financial / economic crisis that although obfuscated by the government itself and mainstream media pliably derivatively thereby needs the independent scrutiny and discussion engendered by such egregious failure of government and their see, hear, speak no evil minions. Things are indeed that bad and would deteriorate far further and more rapidly by any attempt to put this ‘good genie’ back in the bottle. History, including that of recent vintage, shows such attempts invariably fail, inevitably planting as with the ‘Oedipal Effect’ the seeds of their own demise. Moreover, the freedom sought to be crushed in the name of something that won’t be effectively accomplished thereby is among the very, very few positive things that can be said of pervasively corrupt, defacto bankrupt america.

 

 

 

Will: A case that threatens the Constitution (Washington Post) [ If it was only just one case (/ legally framed issue) threatening the Constitution, there might be a shred of reason to hope. Then theres the question(s) concerning the jurists themselves with so much riding on the outcomes, particularly regarding the Constitution, such as it is in its shredded reality as opposed to legal theories / principles / rules of law in any meaningful sense. Once upon a time, I wouldnt in my wildest dreams have thought americas highest courts (and not so highest) to be so fraught with corruption owing to brazened criminality at the highest political levels in the land. It wasnt always this way. My favorite jurist, Oliver Wendel Holmes had an uncanny knack for synthesizing / distilling complex factual, including commercial / business scenarios into useful principles of law of practical application ( ie., the law lending foreseeability to consequences of actions particularly in the realm of business transactions / activity, the legally permissible -with very few exceptions- use of threats of doing what one legally can do so the affected party could avoid such consequences, etc.). Parenthetically, I thought it hilarious that a comment (on The Washington Post site) concerning an alito misstep on the supreme court was that ‘alito makes Clarence Thomas look like Oliver Wendel Holmes’Very funny! The point is, in the world of Holmes jurisprudence, the law really meant something, had teeth beyond the arbitrary enforcement we see today (often politically or monetarily motivated amazingly even for the judges themselves and brazenly in plain sight at that), providing predictability of outcomes which in turn fosters lawfulness, business investment, civility, and prosperity. How far pervasively corrupt, defacto bankrupt banana republic america has fallen. Heres some (theres far, far more) reality from direct experience (in pertinent part): 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk .. as per your office’s request as made this day…

  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.
  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for ..etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]

 

 

 

Meyerson: The post-industrial bust (Washington Post) [ Mr. Meyerson’s quite right! This is a post-industrial bust; but, it’s actually substantially worse than that. The debt levels, particularly in pervasively corrupt, defacto bankrupt america, are insurmountable and unsustainable (America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion’). Moreover, there’s nothing in terms of technological advance even remotely approaching the magnitude and broad scope of the Internet. More ominous is the fraudulent use put to the lightning speed computerized capabilities, particularly on churn-and-earn wall street, in terms of fraud, cover-up, rehypothecation of fraudulent, worthless, paper / toxic assets / securities over and over again so as to create worthless bubbles increasing in size by geometric progression defying whatever futile attempts (none seriously) to either account, value, manage, or prosecute same. This includes the fed’s failed, obfuscating QE’s and the latest as astutely attested to by Dave Fry: Dave’s 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 you’re 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 didn’t 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…’

 

 

Ignatius: A U.S. in decline? (Washington Post) [ Come on! Is there even a reasonable shred of doubt anywhere? Look here: GETTING WORSE: 40 UNDENIABLE PIECES OF EVIDENCE THAT SHOW THAT AMERICA IS IN DECLINE THE ECONOMIC COLLAPSE | IS AMERICA IN DECLINE? THAT IS A VERY PROVOCATIVE QUESTION. THE ECONOMIC COLLAPSE DECEMBER 21, 2011 http://albertpeia.com/40piecesevidenceusdecline.htm

 

 

Milbank: GOP attacks don’t faze Bernanke (Washington Post) [ True enough, in a rare instance of a point made by Mr. Milbank beyond just political correctness and his affection for wobama et als. As I’ve said before, like water off a duck’s back is the effect of deserved criticism on wobama which also goes for bernanke, and as well, their ilk. He and his have become part of the problem, not the solution. And, as with the jive-talking wobama the b for b*** s***, helicopter ben b.s. shalom bernanke is incompetent and has no shame despite his persistent failures at the helm of the fed. Remember, despite the circumlocuted obfuscation, you’re ultimately paying for his manipulation including the latest. There’s ‘no free lunch’  (bernanke … the Italian? German? African? Sounds like it could be … oh, wait … that’s right … they changed their name ‘to fit in’). The fed’s failed, obfuscating QE’s and the latest as astutely attested to by Dave Fry: Dave’s 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 you’re 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 didn’t 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…’

 

 

More people seek jobless benefits AP The Labor Department said that weekly applications increased 21,000. Applications had plummeted two weeks ago to their lowest level since April 2008. (Washington Post) [ You just can’t rely on their (falsified, manipulated, ‘revisable’) election-year ‘data’; and, not just that from the Labor Dept.; but rather, across the board, government, pro-wobama entities, etc.! 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  ] ( 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! ( US Economic Data Reporting Now Officially A Farce: Every Economic Data Point Prints 4+ Std Devs Above Consensus Zero Hedge )

 

 

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! }

 

 

 

U.S. economic recovery picks up pace The GDP is up, but for many Americans, the “recovery” so far seems hardly worth celebrating. (Washington Post) [ Come on! In what alternate reality, parallel universe? The ‘election year’ alternate reality, parallel universe? Time to get real! 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  ] 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, bad news, fraud, b***s***, and desperation alone, as suckers’ rallies ushered in the new year in a most preposterous fashion [Forget the “January Effect”… Instead Skousen http://www.investmentu.com/2010/December/january-effect-vs-siegel-indicator.html  http://albertpeia.com/forgetthejanuaryeffect.htm  , INVESTORS, SKIP THE 'JANUARY INDICATOR' FOR STOCKS Jan. 26, 2012 Mark Hulbert [ the frauds on wall street still shootin’ for the superstitious so-called ‘January effect’ based on based on market frothing hopium for unaffordable, contraindicated, failed QE/wall street only welfare, bad news, fraud, b***s***, and desperation alone to suck suckers in and keep suckers sucked in! Don’t be their fool! Mohammed El Erian gets this and to Frank Motek 1070am relates that he’s using the up moves to reduce risk assets / stocks / exposure, in other words, he’s selling the rallies which is sound advice.

 

NBC objects to Romney’s ‘history lesson’ on Gingrich’s ethics violations A new ad uses news footage from 1997 to remind voters about the day Congress reprimanded Gingrich. (Washington Post) [ Yeah! GE a 49% stake-holder and close ties to the failed wobama, they like wobama would much rather see him face the flimsy, flawed gingrich; all that history and all. Rachel Maddow Hammers Newt Gingrich Over Ethics Violations ...  http://www.huffingtonpost.com/2011/12/07/rachel-maddow-newt-gingrich-ethics-violations_n_1133515.html   ‘Rachel Maddow observed what she called the anniversary "of the start of Newt Gingrich's collapse in political life" on her show Tuesday night. Maddow was referring to the fact that December 6, 1995 marked the initiation of a preliminary inquiry into the allegations against Gingrich for ethics violations. At the time, Gingrich was under fire for his alleged misuse of political contributions. Maddow played clips from NBC news' 1995 archives to tell remind viewers of what she called Gingrich's "ethically dubious past," and the "Republican disgust for Newt Gingrich as Speaker [of the House]."She also highlighted that when the House voted on whether or not Gingrich was guilty of ethics violations, 395 members of the House voted against him. "This was not a partisan vote," Maddow said, adding that 196 Republicans voted against Gingrich at the time."So when Gingrich talks now about those ethics violations back then being part of some partisan witch hunt, what you need to say back to him is, 'Hey. 395 to 28. Wasn't that the vote?'" Maddow said…’   Newt Gingrich 2012 Run: Long Political Record, Washington Ties Coming Back To Haunt Him http://www.huffingtonpost.com/2011/12/06/newt-gingrich-2012-run_n_1132728.html  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 [Yeah! Thus far, the newt’s got the south carolinans, hopin’ at this moment for Floridians, and expects to have, well, we’ll call them lunatics; yes, the inhabitants of his 51st state, that lunar celestial body we call the moon. Sounds like a plan, newty! ]  [ Wow! Absolute proof that the slimy newt’s not dealing with a full deck. Say anything? This takes the cake! The ‘idea man’? Sure, all he needs is Aladdin’s lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldn’t just ‘go to the moon for the first time’ (that fake video with the flag waving in the moon’s windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion . How pathetic and desperate, that slimy newt! Like his bro’ trump and palin, he’s become the joke that keeps on giving. He’ll still have SNL. ]

 

 

Will: Obama to nation — onward civilian soldiers (Washington Post) [ The man without a plan, wobama the b for b***s***, reduced to essentials, namely total b***s***. Wobama’s an absolute, total failure by any way one measures a man, much less a president. He is without any character or fortitude whatsoever! Krauthammer: The president plays small ball (Washington Post) [ Small ball at best! He’s an abject failure! The Man Without A Plan  http://albertpeia.com/omanwithoutaplan.htm  ‘Barack Obama is a man without a plan. 

 

 

Europe’s debt crisis stretches on (Washington Post) [ Stretches on? Well that’s a stretch! At least if you’re goin’ by the excessive money money printing and rhetoric which rivals that infamously remembered chamberlainian utterance, ‘peace in our time’, for misplaced reliance. Indeed, it’s that bad and will get worse; much worse!   Sorry Folks, Europe Is Not Fine… Not Even Close January 24th, 2012

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 [Yeah! Thus far, the newt’s got the south carolinans, hopin’ at this moment for Floridians, and expects to have, well, we’ll call them lunatics; yes, the inhabitants of his 51st state, that lunar celestial body we call the moon. Sounds like a plan, newty! ]  [ Wow! Absolute proof that the slimy newt’s not dealing with a full deck. Say anything? This takes the cake! The ‘idea man’? Sure, all he needs is Aladdin’s lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldn’t just ‘go to the moon for the first time’ (that fake video with the flag waving in the moon’s windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion . How pathetic and desperate, that slimy newt! 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! }

 

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 don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.

First fake moonwalker blasts Obama's space plan  msnbc.com - 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 (Washington Post) [ No … it’s not the economy that makes the election a nail-biter. Rather, it’s wobama’s ‘long-winded on rhetorics that are short on specifics’ typical b***s*** that makes this a ‘nail-biter’. No specifics? Indeed! From ‘wobama speak’ we can surmise from this ‘hedge’ that at least he wouldn’t be vulnerable to the legitimate accusations that his actions (and non-actions) belie his words as last time around. As for the economy, it’s all that bad and worse! Are George Soros, The IMF And The World Bank Purposely Trying To Scare The Living Daylights Out Of Us?  [ Short answer: No! The crisis is real! ]   http://albertpeia.com/diretimesahead.htm . ,  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.

 

GOP reactions reflect party divisions Indiana Gov. Mitch Daniels makes official response, but Romney and Cain also offer their takes. (Washington Post) [   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  http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , http://albertpeia.com/50economicnumbersofuscollapse.htm  .  [ Although I didn’t listen to / watch wobama’s b***s*** session (his words are absolutely worthless and as last time around, belied by his misguided deeds), I did pay attention to the intelligent, succinct, poignant Republican Response by Mitch Daniels, Gov. Indiana, and confidently say, if he so chooses the path, he will prospectively be President. A way his formidable background and talents could more quickly be brought to the fore would be a Ron Paul / Mitch Daniels ticket which would be a Mitch Daniels candidacy then Presidency in 2016 (Ron Paul would have to understand that’s the way it would be in ’16). This would give the nation and the world ‘time to breath’ while recovering from wobama way of  failings / missteps. You can’t ignore Oliver Stone’s sagacious opinion in such matters as these. ( Oliver Stone: I Would Vote For Ron Paul Over Obama  Steve Watson | “He’s the only one who’s saying anything intelligent about the world”. ) His great film anthology speaks for itself and has ‘caught and treated’ some of the most significant, recent american historical ‘breakpoints’.]

 

Limbaugh: Ron Paul “Sounds Like An Islamic Terrorist” Steve Watson | Says he would have no problem with TSA detaining US Congressman. [ Ah, come on. You got to infer something’s supplanted limbaugh’s hillbilly heroin and clouding his judgement. He’s watched too much ‘24’ (while sampling his ‘talk radio’ among others, he’d talk of this show as if reality) ‘under the influence’ which has had the desired mainstream hypnotic effect on his bloated / clouded perspective. ]

 

 

Europe at war with Iran Pepe Escobar | No one ever lost money betting on the foolishness of European Union (EU) politicos. [ It’s really true! They are incredibly dumb / foolish; and, it’s now chrystalline clear that they always will opt for snatching defeat from the jaws of victory. It didn’t have to be this way for failed europe. ]

 

 

IMF sees rising recession risk In a trio of reports Tuesday, the agency depicted the world as perhaps one shock away from a serious downturn. (Washington Post) [ Double duh! What more can be said? IMF chief Christine Lagarde: World could face a ‘1930s moment’ Lagarde voices growing unease among fund officials about Europe’s potential to derail world economy. (WP) [ Could? Come on! This equivocal rhetoric is ‘gettin’ old’! The world’s already immersed in a modern day ‘1930’s moment’; along with obfuscating digital ‘non-money’, fake, worthless ‘money’ that’s not really there in terms of economic / financial value in real terms., 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 don’t know if it’s because people don’t like to think about negative things or if someone sent out a memo to everyone that math doesn’t 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. , S&P says likely to declare Greece in default Jan 24th, 2012 (Reuters) , IMF Cuts Global Growth Forecast and Predicts European Recession Jan 24th, 2012 10:30 by News 24-Jan (Bloomberg)    ,  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 Today’s 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

 

 

 

U.S. economy grew at fastest pace in 18 months Nation’s on-and-off recovery picked up its pace again as the economy grew at a rate of 2.8 percent for the end of 2011. But employment numbers continue to lag, and this disconnect contributes to a sense of gloom. (Washington Post) [ Disconnects indeed, including this rather ebullient headline! I don’t even buy that, quite separate from what I believe to be ‘election-year-friendly’ but false jobs data, which is still bad ‘compared to what’.. There’s plenty of desperation to go around; but, that’s no excuse. 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." ,  Dave’s 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 you’re 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 didn’t 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.

 

 

 

Why Marco Rubio is an attractive running mate (Washington Post) [ Indeed he is! You’re preachin’ to the choir here! I was somewhat resistant to such notion having thought he was italian (along with that certain 18% black vote, wobama similarly seems to have the italian vote locked up, ie., panetta, cuomo, pelosi, etc.). Moreover, as a Latino / Hispanic, he’d be an historic first. That said, now I’ll read the article; in the alternative to:  this scenario - GOP reactions reflect party divisions Indiana Gov. Mitch Daniels makes official response, but Romney and Cain also offer their takes. (Washington Post) [   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  http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , http://albertpeia.com/50economicnumbersofuscollapse.htm  .  [ Although I didn’t listen to / watch wobama’s b***s*** session (his words are absolutely worthless and as last time around, belied by his misguided deeds), I did pay attention to the intelligent, succinct, poignant Republican Response by Mitch Daniels, Gov. Indiana, and confidently say, if he so chooses the path, he will prospectively be President. A way his formidable background and talents could more quickly be brought to the fore would be a Ron Paul / Mitch Daniels ticket which would be a Mitch Daniels candidacy then Presidency in 2016 (Ron Paul would have to understand that’s the way it would be in ’16). This would give the nation and the world ‘time to breath’ while recovering from wobama way of  failings / missteps. You can’t ignore Oliver Stone’s sagacious opinion in such matters as these. ( Oliver Stone: I Would Vote For Ron Paul Over Obama  Steve Watson | “He’s the only one who’s saying anything intelligent about the world”. ) His great film anthology speaks for itself and has ‘caught and treated’ some of the most significant, recent american historical ‘breakpoints’.]

 

 

Krauthammer: The president plays small ball (Washington Post) [ Small ball at best! Hes an abject failure! The Man Without A Plan  http://albertpeia.com/omanwithoutaplan.htm  Barack Obama is a man without a plan. 
 

 

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! }

 

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 don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.

First fake moonwalker blasts Obama's space plan  msnbc.com - 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    ]

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’s 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. ]

 

Obamas best surrogate Gingrich boosts the presidents reelection prospects. (Washington Post) [ Indeed, that’s what’s being said across the board. You can count on Mr. Milbank having his fingers crossed for a slimy newt candidacy. Snooty newty, literally a self-proclaimed ‘revolutionary’. Che Gingrich! I can almost envision the posters / t-shirts. It’s really quite amazing / tragic! Narcissistic personality disorder? Could be. See here: Hes So Vain, Hed Be Right in Thinking This Post Is About Him By ANDREW ROSENTHAL NYT  http://loyalopposition.blogs.nytimes.com/2012/01/20/hes-so-vain-hed-be-right-in-thinking-this-post-is-about-him  …You cant set too much store by press releases from one campaign about another, but I have to say that Mitt Romneys team has come out with a devastating one. Its titled, poetically: “‘I think Grandiose Thoughts A Selection of Speaker Gingrichs Thoughts Over The Years.

It cites some of the most breathtakingly self-congratulatory statements that Ive ever seen from a politician, and that is a high bar.

Last month: I think I am a transformational figure. (Shouldnt there have been a footnote crediting Barack Obama with that line?)

In 1985, when he was a backbencher in the Reagan G.O.P., to put it generously: I want to shift the entire planet. And Im doing it I represent real power. (Maybe that explains global warming.)

In 1992, when he was on the verge of becoming Speaker of the House, one of the most non-revolutionary things you can do: I am essentially a revolutionary.

And in 2005: I first talked about [saving civilization] in August of 1958. Its fairly impressive that Mr. Gingrich remembers the exact date he first mentioned saving civilization. Too bad its now been almost 54 years and he still hasnt done it.

All politicians love to compare themselves to previous politicians, and Republicans especially love to compare themselves to Abraham Lincoln, whose Republican Party, of course, had no connection to the current one apart from the name. But Mr. Gingrich truly excels at this, as in all other matters egotistical.

The Romney news release, which is carefully sourced, contains examples of Mr. Gingrich likening himself to Abraham Lincoln, Ronald Reagan, Margaret Thatcher (another revolutionary, essentially), Woodrow Wilson, Henry Clay, Charles de Gaulle (arent Republicans supposed to disdain the French?), William Wallace (from the movie Braveheart, not the actual William Wallace); the Duke of Wellington (presumably not for the beef or the boots), Thomas Edison, Vince Lombardi, the Wright brothers, and any old Viking. And Moses…’ [ In this respect, viz., potentially suffering from a narcissistic personality disorder, he’s not so different from wobama the b for b***s***]: ‘… During a recent 60 Minutes interview, Barack Obama said that only 3 presidents in U.S. history accomplished more than he did during the first two years of his presidency.

The issue here is not going be a list of accomplishments. As you said yourself, Steve, you know, I would put our legislative and foreign policy accomplishments in our first two years against any president with the possible exceptions of Johnson, F.D.R., and Lincoln just in terms of what weve gotten done in modern history. But, you know, but when it comes to the economy, weve got a lot more work to do.

He had to be joking, right? Sadly, he was not joking…’ The Economic Collapse December 21, 2011 http://albertpeia.com/40piecesevidenceusdecline.htm

The Post’s View  Grand rhetoric, smaller ideas Editorial Board  The State of the Union served less as a policy blueprint than a case for reelection. (Washington Post) [ And a weak case (for reelection) it is! http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , http://albertpeia.com/50economicnumbersofuscollapse.htm  .

 

 

Marcus: Gingrich shoots the messenger    Parker: Gingrich’s plea of persecution  (Washington Post) [ Yeah! Poor (not really thanks to that slithery ‘k street phenomena of money for nothing’) slimy newt. There’s really no excuse for blaming the media. I actually believe her (could be a familiar ‘meaning of the word is, is’ scenario) but to that I say, ‘So What’! After all, if it was a lack of mendacity and meretricious, disingenuous hypocrisy that the media and electorate were looking for, Ron Paul would be surging! And from beyond, we sense Frank’s upset as he croons:

 

He was married and so was she

In a house of sticks that he was made to flee

She wore black and he wore white

Though she might win this fight

 

So what, she shot him down

So what, they were blank rounds

Bang bang, the media rang

Bang bang, the socar hillbillies sang

So what, his baby shot him down … with blanks!

 

My Baby Shot Me Down

 

Writer: BONO, SONNY / REYES, SENEN / FREESE, LOUIS / FERM, DEMERICK SHELTON  Recorded: Frank Sinatra ‘She Shot Me Down’ 1981

(Actual lyrics in pertinent part)


I was five and she was six
We rode on horses made of sticks
I wore black and she wore white
She would always win the fight

Bang bang, she shot me down
Bang bang, I hit the ground
Bang bang, that awful sound
Bang bang, my baby shot me down …


Petri: Grandiose Gingrich overruns awful Romney  Rubin: In debate, Gingrich meets his match (Washington Post) [ ‘Same Debate: Two views, the news, two different views’. The gamut … from ‘bull run to ‘bull s***’ they did diverge. Frank’s displeased with this lack of clarity so from beyond he adds his soothing sound … for clarity of course! :

 

"Tea for Two" (recorded 1947 Frank Sinatra / Dinah Shore) (Music/Youmans Lyrics/Caesar)

 

We’re discontented with candidates that are rented

With grand promises that they’ve invented

 

America’s now a place that’s no oasis

Where life’s weary chase is always in crisis

 

Far from the cries of crime victims in the city,

Where flowers pretty caress the streams

 

Sarcozy to hide in, and war monger side-by-side in

Don’t let lobotomy joe bidin your dreams.

 

Slimy newt flat on his high knee, more war plans from Romney,

Chinese tea for two, and two for Chinese tea,

 

Me for who and you show me, al one!

 


{actual song in pertinent part}

I'm discontented with homes that are rented
So I have invented my own.

Darling this place is a lover's oasis where life's
weary chase is unknown.

Far from the cry of the city, where flowers pretty
caress the streams.

Cozy to hide in, to love side-by-side in.
Don't let it abide in my dreams.

Picture you upon my knee, just tea for two and two for tea,
Just me for you and you for me, alone! …’

 

The two faces of Newt Gingrich With few campaign advisers to keep him on track, the candidate is showing his nasty side. (Washington Post) [ Yes indeed, we see ‘both sides now’ of ‘nasty newt’; as ominously warned by the sound from beyond of none other but Frank { Performed by

Frank Sinatra 1968, Written by Joni Mitchell First release Both Sides Now by Judy Collins on audio album Wildflowers (November 1967) }

Rows and flows of newt’s white hair
And icy screams from bombs in the air
And unfettered cannons ev'rywhere
I've looked at mushroom clouds that way …

 

 

Drudgereport: AP: ABC TO AIR THURSDAY NIGHT...
GINGRICH DAUGHTERS: 'The failure of a marriage is terrible and emotional experience'...

Erik Wemple : Chris Matthews alleges Gingrichian racial snarkiness (Washington Post) [ Snarky, indeed! He’s so snarky, that slimy newt. Once again snooty newty has raised the ire of Frank from beyond as Frank feels compelled to chime in on behalf of his shadow, also known as sammy, as in sammy davis, jr., who is also a spook; you know a ghost. And no, sammy was not one of the spooks at the cia who are a bunch of spooks, and so indirectly Franks chimin in on the cias behalf as well. Sing it Frank (with your shadow, sammy):

(Actual Song - Duet - Artist: Frank Sinatra & Sammy Davis Jr   Song: Me and My Shadow    Date recorded: 1962)

Me and My Shadow

 

snooty newty and his shadow

Strolling down pennsylvania avenue
snarky newty and his shadow

That’s a dream that won’t come true

snooty newty and his shadow

All alone and feeling black and blue

‘cause snooty newty and his shadow
just got mugged in front of wobama’s temp house too

 

 

ComPost : The stupidest attack on Romney yet  (Washington Post) Mais oui, il est tres stupide, que triton visqueux (But yes, he is very stupid, that slimy newt). I personally took (the mandatory foreign language grade 7-10) French and even brushed up here in LA while contemplating a move to Geneva, Switzerland, Europe, which of course has obviously changed along with EU prospects, the EU having so foolishly gone along to get along with the now fallen american way (I’m really not good with languages, being ‘hard-wired’ with my initial language, ie., my facebook response to query, ‘I took French; but I have no facility with languages (including computer programming languages) other than what I initially learned and some code (html, etc.). I think I should invest in one of those electronic translators.’). Even Frank’s  angrily chiming in with his displeasure with snooty newty from beyond :

I Love Paris  (Writer(s): Cole Porter) (Recorded 1959, 1960 Frank Sinatra)

 

I love Paris in the spring time
No room for newt on the ballot in the fall
I love seeing newt splinter this winter when he fizzles
I love seeing newt the bummer in summer when it sizzles

 

Newty seems dumber,

Really don’t have to wait for summer,
to see that bummer newty fall

 

In U.S., mental illness is no rarityAbout 20 percent of American adults suffer some sort of mental illness each year, government survey finds. (Washington Post) [ As if anyone should need reminding, indeed it is true that mental illness is no rarity in pervasively corrupt, defacto bankrupt america. In fact, as could reasonably be expected, this referenced survey is by the government and substantially understates the prevalence of mental illness in america, which government study is belied by the conservatively applied using updated DSM (Diagnostic and Statistical Manual of Mental Disorders) criteria, private 2004 National Comorbidity Survey, Ronald Kessler et als, which found 1 in 3 (30%) americans to have suffered some sort of mental illness each year, and 50%, 1 in 2 to have suffered same in their lifetime. I believe the latter referenced private survey, though more accurate than the former referenced government survey (predictably-government interested bias), though dire, still substantially understates the prevalence of mental illness in america which sports the highest crime rates in the world by far including that for serial killers (Though having but 5% of the worlds population, the u.s. has 76% of the worlds serial killers,   http://www.albertpeia.com/realifeamericaserialkillers.mpg ). Absent are unreported / undiagnosed, criminals among others, and a rather insular few (including capital hill, oval office, wall street, etc.). I would put the yearly number more realistically at 4 in 5 (80%) and the ‘in lifetime’ number a percentage in excess of 90%. I believe this evolved trait of criminality, coincident with mental illness to be inherent in the american populace for a multitude of reasons.   

 

Milbank: House GOP plays debt charades (Washington Post) [ Well, if there’s one thing that wobama and his minions know something about, clearly it’s debt. After all, wobama has increased the nation’s debt more than that of all the presidents from Eisenhower to date combined. That’s 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. (Washington Post) [ 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...  }       and those unaffordably costly military industrial complex welfare programs .  The ‘so-called improvement’? At what cost for election appearances only?   (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   ‘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 Lew’s replacement of Daley as chief of staff reflects anticipation of fight with Congress on payroll tax. (Washington Post) [ Let’s not sugar-coat the reality here! Given america’s defacto bankruptcy and wildly profligate spending by wobama exceeding by far all others (and the last several combined) thereby exacerbating america’s dire predicament  (Dire predicament, forecast, time to ‘get out of Dodge (america)’  http://albertpeia.com/forecastusdebtgetoutofdodge.htm  )



 

Google earnings badly miss estimates Associated Press JAN 19 Company misfired badly in fourth quarter as advertising prices fell during holiday marketing season. (Washington Post) [ Actual costs catching up and impacting margins, post-dollar debasement fed manipulations / obfuscations. If youve been to the grocery store, etc., you absolutely know the reported inflation data is total b***s***. 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  ] 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, bad news, fraud, b***s***, and desperation alone, as suckers rallies ushered in the new year in a most preposterous fashion

 

France weighs withdrawal after Afghan soldier kills four French troops Shooting is second attack in less than a month on French troops by Afghan wearing Army uniforms (Washington Post) [ Weighs? Oh, right … save the euro verses save the dollar … well, as always, ways not always best ways or right ways … Methinks they need a better scale. Afghanistan's Soldiers Step Up Killings of Allied Forces New York Times KABUL, Afghanistan [ Yeah … say what you want, but in the last analysis, these are not pro-zionist fools; but rather, rational beings who, despite the propaganda, high-level bribes, and machinations, know who their real enemy is (although some may say that america’s mere presence there is a self-defeating one at best). After all, they are Afghanis, not americans or frenchmen or (not so) brite ons, etc.. ] - American and other coalition forces here are being killed in increasing numbers by the very Afghan soldiers they fight alongside and train, in attacks motivated by deep-seated animosity between the supposedly allied forces, ... STOCKS SLIDE, FRANCE DOWNGRADED, GREECE NEARS DEFAULT: Here's What You Need To Know Business Insider , Bam! Bam! Bam! Huge Financial Bombs Just Got Dropped All Over Europe http://theeconomiccollapseblog.com  ‘The European debt crisis has just gone to an entirely new level. { http://albertpeia.com/financialbombsovereu.htm ‘Yesterday I wrote about 22 signs that we are on the verge of a devastating global recession, and unfortunately that list just got a whole lot longer’ http://albertpeia.com/22signsglobalrecessiondepression.htm  }

 

GM: King of the road once more  Once again the world’s top-selling automaker, the company and its partners sold 9M vehicles in 2011. (Washington Post) [ Ring (alarm)! Time to wake up! 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.. ,

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

 

 

Krauthammer: The GOP’s suicide march (Washington Post) [ Wow! Mr. Krauthammer must have been having a ‘bad hair day’. Suicide march? I don’t think so. I even was compelled to look up his (vaulted mis)use of ‘manichean’ (definitions infra) in his rather grimly devised piece. Whew! Time to break out the ‘sackcloth and ashes’. I truly have never seen Mr. Krauthammer so ‘off his game’. If one can’t appreciate the ultimate ‘raison d’etre’ for the occupy movement vis-à-vis the egregious, gargantuan, still unprosecuted wall street frauds, clearly, that person’s not been paying attention; and, to ignore same is to do so at the nation’s peril [ Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) [ So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv , ] . I often point to the stupidity of americans generally, but not so dumb to ignore the most basic math coupled with common sense relative to these nation-debilitating, unjustifiable frauds, boondoggles. At this juncture I feel obliged to state that I haven’t voted for decades (kind of along the lines of ‘George Carlin’s famed defense of his own non-voting record which he justified by reminding all that Hitler came to power in a full, free, democratic election by a landslide’). Yet, on all the ‘big ones’, I’ve always taken a prior position based on the ‘reality’ of the prospective result. May I humbly say, I’ve never, ever been wrong. These are ‘debates’ …’words’… geared toward positioning one or another for the opportunity of the ‘big job’. To expect anything less than at least a ‘little bit of juglar’ is a bit naïve. So calm down Mr. Krauthammer; nothing’s been lost. Testament to Mr. Krauthammer being ‘off his game’ here is his positing of ‘wobama the b for b***s***’ as being smart. Au contraire Mr. Krauthammer! Wobama’s quite dumb! If smart, wobama would have done as he said he would do last campaign, and the nation would have been far better off for it! Parenthetically, look to who’s pushing the censorship bills; now, that’s political desperation! To cheer Mr. Krauthammer up, there’s also that egregious ‘Keystone’ misstep which even The Post’s Editorial Board felt compelled to point out. We’ll just chalk this up to ‘(temporary) situational anxiety disorder’.

 

 

IMF chief Christine Lagarde: World could face a ‘1930s moment’ Lagarde voices growing unease among fund officials about Europe’s potential to derail world economy. (Washington Post) [ Could? Come on! This equivocal rhetoric is ‘gettin’ old’! The world’s already immersed in a modern day ‘1930’s moment’; along with obfuscating digital ‘non-money’, fake, worthless ‘money’ that’s not really there in terms of economic / financial value in real terms. 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

 

 

Fed to disclose low-interest-rate plan details By releasing projections that show it plans to keep interest rates low, the Federal Reserve might drive interest rates down more. Lower rates tend to spur lending, which generates economic activity. (Washington Post) [ Well, if you thought the fed’s ‘low interest plan’ was for the general public’s benefit, think again; not that it’s so difficult to imagine that it’s not, given the fed’s failure in regard to its own self-proclaimed mandates, viz., employment and inflation.

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! ]

 

 

 

 

Petri: Keep dreaming, Occupy D.C. (Washington Post) [ Careful what you say here, ‘cause their dream’s your dream (in an important  sense). 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. ]

 

Long-term factors weigh on middle class Economists say President Obamas plans for reviving the middle class and lessening inequality will go against decades-old trends that will make it difficult to build a higher quality of life for many Americans. (Washington Post) [ Yes, indeed they do! And, if there’s anyone who knows about such and has played a role in make it so, it’s certainly wobama. http://albertpeia.com/30statsmidclassdying.com  30 STATISTICS THAT SHOW THAT THE MIDDLE CLASS IS DYING RIGHT IN FRONT OF OUR EYES AS WE ENTER 2012 The Economic Collapse http://theeconomiccollapseblog.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Greece Has No Idea What Its Gotten Itself Into February 6th, 2012 http://gainspainscapital.com   Grahams note: the following is an excerpt from a recent issue of my Private Wealth Advisory newsletter with some additional research I did on the economy of Greece.

The Greeks have no idea what theyve gotten themselves into.

A few facts about Greece

First off, demographics wise, Greece is a disaster.

Real Clear Markets shares the following facts.

  • Greece’s fertility rate is 1.3 children per women. This is nearly a full child below the “replacement rate”: the number of children needed to maintain the current population.
  • Greece’s population of 65 and over has soared from 11% in 1970 to 24% in 2010. It will hit 33% by 2050. Meanwhile, Greece’s working population will decline to 20% over the same time period.
  • Because of this, Greece spends 12% of its GDP on pensions.

As if this werent bad enough, the unemployment rate for Greeks aged 15-24 is 40%. For Greeks aged 24-34 its 22%. Imagine being a young person, not being able to find a job, and then knowing that huge percentage of your efforts (42%) are going to be taxed to fund all the crazy social welfare programs for Greeces aging population…’

 

 

 

 

 

 

 

Meyerson: GOP demonizing of Europe is ridiculous (Washington Post) [ Only in the sense that what’s said of europe applies to pervasively corrupt, defacto bankrupt america many times over (somewhat loosely in the realm of that ‘rubber and glue’ defensive word play / repartee that is of familiar use among children). Yet, I’m absolutely astounded by how dumb the europeans have proven themselves to be; ‘snatching defeat from the jaws of victory’ at every turn; displaying a naïvete that makes one wonder just how much an impact those anthropologically famed Neanderthals had on the region. After all, if they really thought that a very desperate, insurmountably debt-ridden and defacto bankrupt america was going to welcome the initially very successful euro in competition with the over-printed, ever more worthless fiat paper weimar dollar with open arms, they then are candidates for swampland in jersey, watches, brooklyn bridges, etc.. Moreover, a review of history including that too recent to be forgotten reveals ineluctably that with friends like the u.s., who needs enemies.

 

The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming  http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm

 

 

 

Vladi­mir Putin: My vision for a better Russia (Washington Post) [ I certainly agree that Putin is a man of vision and a great leader of an historically great nation with a long, rich history. Moreover, as he astutely points out, candidates’ worthless promises have the hollow ring we see epitomized by the jive-talker wobama. As Russia made the transition passing through that oligarchical stage as mentioned, america has devolved into an oligarchy for which there are no meaningfully enforced laws / rules and for which this parasitic, symbiotically venal interaction between elements of all branches of the u.s. government and the oligarchs (ie., wall street, etc.) has been destructive domestically (ie., the national drain of corruption on k street, huge frauds, etc.) and globally (the military industrial complex, wars, etc.). The story of america’s rather brief history, beyond the propaganda, is, in a nutshell, one of ‘taking without asking’, without regard to meaningful law, common decency, or morality. The taking includes lives, property, and most recently, liberty (as manifested in various nefarious, self-created problems for which they provide ‘the solution’; ie., encroachments on speech, etc.).

 

Ter·ror·ist (Noun): Anyone Who Disagrees with the Government : George Washington : 02/08/2012 - 01:03 Any American Who Criticizes the Government May Be Labeled a Terrorist

Obamas Signing Statement on NDAA: I have the power to detain Americans but I wont  Infowars | I want to clarify that my Administration will not authorize the indefinite military detention without trial of American citizens. [ Who could possibly be foolish enough to believe even one word from jive-talking wobama the b for b***s***? Hes lied about everything! There is not one thing he hasnt lied about! Hes a pathetically failed president! ]

Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens.

Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.

Globalist Campaign Calls for Abolishment of Constitution Kurt Nimmo and Alex Jones | New York Times publishes front page article depicting Constitution as archaic and outdated.

Feds Label Bulk Buying of Food a Potential Terrorist Activity Paul Joseph Watson | Despite the fact that FEMA itself spent $1 billion dollars on storable food last year alone.

SYRIA: CIA-MI6 Intel Ops and Sabotage Felicity Arbuthnot | American and British intel agencies are in Syria executing a plan of destabilization
 

Pakistan Warns West Over Drone Killings of Innocent Civilians The Sun | Pakistan warned Britain to help stop the American “Drone Wars” that are slaughtering hundreds of its innocent civilians.

 

Iran: A Manufactured Threat Stephen Lendman | US media engineers recycle old messages – to pull the American mind-set towards a new war

 

The Posts View The Senate didnt do enough to stop insider trading Editorial Board Theres still too much ambiguity on rules covering lawmakers. (Washington Post) [ So much for nobody being above the law! I quite agree that absolutely no ambiguity; indeed, no wiggle room whatsoever should be countenanced in this legislation. Actually, an outright ban would be a more cut and dry approach and desirable. Objections? Dont run for office if you dont like the rule. After all, Washington politics has strayed a long way from being a public service sacrifice to rather an extravagantly accoutered, very costly to the public, but lucrative end in itself; and worse, regardless of results (the fiefdoms seem to be self-perpetuating). Yet, it still comes down to the meaningfulness of the laws, particularly relative to arbitrary enforcement; and, for those who believe the courts will apply those laws as written and intended, Im constrained to say from direct experience: You dont get out much! http://albertpeia.com/fbimartinezcongallard.htm     http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  http://albertpeia.com/americangovernmentdrugtrafficking.htm     http://albertpeia.com/americascorruptiondrugtrade.htm  

 

The Post’s View Drawdown in Afghanistan Why should troops die this year if U.S. is leaving next year? (Washington Post) [ Indeed! But the larger question is why should they have died in Afghanistan at all? Well, the answer’s simple, even beyond the military industrial complex / war profiteer thing. It’s not a question of the heroes in; but rather, it’s all about the heroin. Yes, heroin! That icky, sticky highly addictive and devestating drug that the most sordid of organized crime ilk here and abroad find so appealing and lucrative. And, it’s ‘high time’ for this very newspaper (among all others and media) to step up and say what everyone with a computer and internet connection with a desire to know already knows; viz., the u.s. government is in the illegal drug business (including heroin, cocaine, etc.) in a very big way. Back when I brought a RICO action involving drug money laundering (see infra) I never in my wildest dreams could have thought that reality to be so, yet indeed it is so.

 

Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia.com/americangovernmentdrugtrafficking.htm     http://albertpeia.com/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

 

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.. it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing

 

 

Implied Unemployment Rate Rises To 11.5%, Spread To Propaganda Number Surges To 30 Year High  

Sick of the BLS propaganda? Then do the following calculation with us: the US civilian non-institutional population was 242,269 in January, an increase of 1.7 million month over month: apply the long-term average labor force participation rate of 65.8% to this number (because as chart 2 below shows, people are not retiring as the popular propaganda goes: in fact labor participation in those aged 55 and over has been soaring as more and more old people have to work overtime, forget retiring), and you get 159.4 million: that is what the real labor force should be. The BLS reported one? 154.4 million: a tiny 5 million difference. Then add these people who the BLS is purposefully ignoring yet who most certainly are in dire need of labor and/or a job to the 12.758 million reported unemployed by the BLS and you get 17.776 million in real unemployed workers. What does this mean? That using just the BLS denominator in calculating the unemployed rate of 154.4 million, the real unemployment rate actually rose in January to 11.5%. Compare that with the BLS reported decline from 8.5% to 8.3%. It also means that the spread between the reported and implied unemployment rate just soared to a fresh 30 year high of 3.2%. And that is how with a calculator and just one minute of math, one strips away countless hours of BLS propaganda.

 

 

 

‘FULL COVERAGE OF JUSTICE DEPT. SCANDALS   http://topics.dailycaller.com/politics/justice-department.htm  http://albertpeia.com/dojscandals.htm , I Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent Employment Statistics?  http://theeconomiccollapseblog.com  http://albertpeia.com/governmentfraudulentemploymentstats.htm  ‘On Friday, the entire financial world celebrated when it was announced that the unemployment rate in the United States had fallen to 8.3 percent. That is the lowest it has been since February 2009, and it came as an unexpected surprise for financial markets that are hungry for some good news.  According to the Bureau of Labor Statistics, nonfarm payrolls jumped by 243,000 during the month of January.  You can read the full employment report right here.  Based on this news, pundits all over the world were declaring that the U.S. economy is back.  Stocks continued to rise on Friday and the Dow is hovering near a 4 year high.  So does this mean that our economic problems are over?  Of course not.  A closer look at the numbers reveals just how fraudulent these employment statistics really are.  Between December 2011 and January 2012, the number of Americans "not in the labor force" increased by a whopping 1.2 million.  That was the largest increase ever in that category for a single month.  That is how the federal government is getting the unemployment rate to go down.  The government is simply pretending that huge numbers of unemployed Americans don't want to be part of the labor force anymore.  As you will see below, the employment situation in America is not improving.  Yet everyone in the mainstream media is dancing around as if the economic crisis has been cancelled.  I can't take it anymore!  It is beyond ridiculous that so many intelligent people continue to buy in to such fraudulent numbers…  http://albertpeia.com/Labor-Force-Participation-Rate-440x264.png  , http://albertpeia.com/Employment-Population-Ratio-440x264.png … ,  Long-Term Unemployment Remains High, Millions Leave Labor Force Matt Cover | Number of long-term unemployed was unchanged at 5.5 million in January, near its record .. , Dave’s Daily: http://www.etfdigest.com  CONTROVERSIAL JOBS REPORT STOKES BULLS February 03, 2012 ‘The jobs report Friday was a ginned-up number but the media and algos don’t look under the hood much it seems. Yes, the unemployment rate fell to 8.3% and 243K new jobs were created and perhaps the number itself will boost confidence.My favorite book from college statistics was ‘How to Lie with Statistics’. I believe the Bureau of Labor Statistics (BLS) may have ripped a chapter or two from the book. The details were interesting and little reported because the media has soap to sell. First a whopping 1.2 million people vanished from the labor force in 2011. That is a massive seasonal/consensus driven adjustment. The BLS assumes those people aged 55 and higher died from the 2010 consensus. (So much for living longer in the USA!)This means the labor force fell to a 30 year low of 63.7%. Around 113K of the gain in employment came from low wage jobs according to CRT Capital Group. Also part-time jobs rose by 699K, the third highest in history, while only 80K full-time jobs were created. Finally, the ISM Services Report, which rose to 56.8 from 52.6, included an increase in sector employment from 49.8 to 57.3, but perhaps didn’t include large sector bank layoffs. Other skeptics included PIMCO’s Bill Gross who tweeted: http://albertpeia.com/grosstweet.jpg  Respected TrimTabs detailed analysis which mocks the BLS and well regarded blogger Jesse’s Café Americain.Lack of in-depth or accurate reporting aside, the stock market loved the report as it was “dummy up” time in the media. Other data included rising Factory Orders but missed expectations (1.1% vs 1.8% previous & 1.5% consensus)…’ , Obama’s economic policies have created a nation of jobless citizens dependent on government handouts Natural News | It’s no secret that the U.S. national debt is poised to increase by more than $6 trillion during President Obama’s first four years in office., Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low

 

 

El-Erian: Still losing the unemployment war (Washington Post) [ Yeah, I think his partner’s tweet sums it up quite nicely:  ‘.. skeptics included PIMCO’s Bill Gross who tweeted: http://albertpeia.com/grosstweet.jpg   ..’   ‘FULL COVERAGE OF JUSTICE DEPT. SCANDALS   http://topics.dailycaller.com/politics/justice-department.htm  http://albertpeia.com/dojscandals.htm , I Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent Employment Statistics?  http://theeconomiccollapseblog.com  http://albertpeia.com/governmentfraudulentemploymentstats.htm 

 

 

 

  • BANK OF AMERICA, WELLS FARGO, JPMORGAN SUED BY NEW YORK OVER MERS
  • NY AG SUIT CITES FRAUDULENT FORECLOSURE FILINGS

In other words, kiss that foreclosure settlement goodbye. In the meantime, the  electronic momos keep taking BAC ever higher even as this news confirms that the bank is about to suffer a multi-billion impairment shortly.

 

 

 

 

Gerson: Poor pay the price for Obama’s policies (Washington Post) [ True enough, consistent with the converse of ‘a rising tide lifts all boats’; viz., a falling tide sinks them (all). Yet, he’ll get their vote regardless of his recklessness and his specific damage to them. Why? Because once again, campaign rhetoric unchallenged and belied by failure to live up to his campaign rhetoric / promises / lies / b***s*** from last time around. Even that so-called safety net in an insurmountably debt-ridden defacto bankrupt nation is no safety net at all. In fact, despite the statistical / manipulative skullduggery, the costs of those window dressed make-shift jobs (temps, ‘projects’, etc.), though election year expedient, were downright unaffordably uneconomic. Wake up! ).   (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com  http://albertpeia/34shockingfactsaboutusdebt.htm  ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…).  america’s totally broke! Really! No joke! Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

 

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

 

 

 

Obama looks to tame U.S. debt Spending plan would pump nearly $500 billion into new construction projects over the next decade. (Washington Post) [ Tame u.s. debt … Yes indeed, by more record level spending … Sounds like a plan! Well, you know the drill; it’s an election year and it takes money ( that’s not really there, and no, not to make money ) to if not get elected, to enable an argument that, though contraindicated, you should be elected. I think we’ve passed the ‘fool me twice, shame on me’ threshold.  Obama Revises CBO Deficit Forecast, Predicts 110% Debt-To-GDP By End Of 2013, Worse Deficit In 2012 Than 2011Ben Bernanke FTMFW Quote Of The DayAnd the winner is... BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT … Here are some other pearls of ‘is dumb’ from helicopter ben b.s. shalom bernanke : http://albertpeia.com/30bunglebenbernankequotes.htm  ,  How much has Obama added to debt? OPINION | The amount he’s actually responsible for adding to the deficit is difficult to calculate.   (Washington Post) [ Well, when you’re dealing with debased, over-printed fiat currency and insurmountable debt levels, the precise amount of debt added on his watch matters less than the fact that he’s increased america’s debt by an amount in excess of the total amounts of all the nations’ presidents since Eisenhower combined. http://albertpeia/34shockingfactsaboutusdebt.htm    ,  Is the unemployment rate misleading? WONKBLOG | Some point out that it doesn’t count those who’ve given up looking for work. (Washington Post) [ Duh! Ya think? I don’t even buy their raw numbers; and, even if, arguendo, their raw numbers real, they are election year expedient at best for ‘reporting purposes’ and uneconomic, overcostly, and very, very temporary http://albertpeia.com/governmentfraudulentemploymentstats.htm  . White House was warned about Solyndra layoffs E-mails show Energy Dept. asked firm in October 2010 to delay news of layoffs until after midterm vote. (Washington Post) [ Those unaffordably costly jobs { 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...  }       and those unaffordably costly military industrial complex welfare programs .  The ‘so-called improvement’? At what cost for election appearances only?  (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com    http://albertpeia.com/34shockingfactsaboutusdebt.htm   ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…).

 

 

 

 

Nattering nabobs of negativism The GOP has an anger management problem. (Washington Post) [ This from among the ‘chattering shishkebobs of chauvinism’; viz., wobama’s ever faithful aficionado, Mr. Milbank, whose love and support for all things obama knows no bounds. Negativism … hmmm … how ‘bout reality. Yes, things are that dire, having been made more so by wobama’s failure to abide by his last multitude of campaign promises. Then there’s the spending and now insurmountable debt, all for election year obfuscation of the grim reality. Negativism? How ‘bout plain old reality.

 

 

 

I Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent Employment Statistics?  http://theeconomiccollapseblog.com  http://albertpeia.com/governmentfraudulentemploymentstats.htm 

 

 

The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming  http://theeconomiccollapseblog.com http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm

 

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 should’ve been easy for the administration. (Washington Post) [ For the Editorial Board (or anyone else), their’s is the right call. In truth, I’d 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 Journal’s expert concluded someone was giving the clintons money). Quite frankly, I’m 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, she’s been so integrally involved in fomenting the prevalent anti-american sentiment throughout the world with great éclat. Then there’s america’s defacto bankruptcy. That’s 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)  http://albertpeia/34shockingfactsaboutusdebt.htm   ,  Obama continues trend of turning to budget director in time of trouble Lew’s replacement of Daley as chief of staff reflects anticipation of fight with Congress on payroll tax. (Washington Post) [ Let’s not sugar-coat the reality here! Given america’s defacto bankruptcy and wildly profligate spending by wobama exceeding by far all others (and the last several combined) thereby exacerbating america’s 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 wobama’s pre-election year military budget cuts while bragging that his military budget allocation still exceeds that of bush failure 2. Some companies won’t even hire until wobama’s out ( Drudgereport:  COMPANY SHOCK: 'WE'RE NOT HIRING UNTIL OBAMA GONE'  )

 



Greece reeling over deal on cuts Protesters flood the streets of Athens; leader fear new rules will worsen an already harsh recession (Washington Post) [ Death (of a nation) from a thousand cuts! This Is What An Economic Depression Looks Like In The 21st Century http://albertpeia.com/21centurydepressiongreecedusup.htm   Greek workers flood streets to protest deep austerity cuts Police and protesters clash after Greek leaders agree to deal in effort to help country avoid bankruptcy. (Washington Post) Check out this mind-numbing piigs reality ‘pictorial’ which doesn’t fall far from american home(y) reality http://albertpeia.com/europeandebtcrisispiigs.htm  . I’m not quite sure what it’s going to be yet, but I’m sure there’ll be another meaning attached to the term, ‘getting greeked’. Greek leaders reach agreement on austerity measures to avoid default European Central Bank president announces breakthrough in efforts to resolve region’s ongoing crisis. (Washington Post) [     ‘The situation is getting more problematic for Greece day by day’Greece’s prime minister seeks rescue consensus amid political quarrels. (Washington Post) [ Indeed things are getting worse and in a manner of speaking now ‘B-B-B-B-Bad B-B-B-B-Bad B-B-B-B-Bad Bad to the bone’ (George Thorogood & the Destroyers’) Drudgereport: 2-7-12 Greece: 'There's no more left to cut'...  ,  Greek Economy Implodes: Budget Revenues Tumble 7% In January On Expectation Of 9% Rise Spiegel: "It's Time To End The Greek Rescue Farce"Illusion of Recovery: Feelings Versus Facts The Burning Platform | The false storyline last week was the dramatic surge in new jobs. ,  China's Road to Becoming a Reserve Currency The Wall Street Journal , Yes, It Is Halftime In America – So Now Is The Time To Get Your Financial Priorities In Order ECB  http://albertpeia.com/halftimeinamerica.htm  ,  Why Is Global Shipping Slowing Down So Dramatically?  ECB http://albertpeia.com/globalshipslowingdramatically.htm 

 

 

 

 

Why insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that ‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts, bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet, their’s is only the province of civil remedies with at best criminal referrals to the DOJ for prosecution; good luck with that (remember all those prosecutions promised last election time by what is now the wobama / holder doj of the still extant high level wall street frauds in the trillions…never happened  - { Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) ( So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv ,

 

Insider-trading probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services Committee is being investigated. 'This is a dog and pony show' (Washington Post) [ Yeah! And he’s both the dog and the pony. As for the paulson meeting and denial of ‘inside information’, one can only say for certain, giving bachus the temporary but unlikely benefit of the doubt, that paulson should be in jail for what they did for their buds at goldman et als. And dern it, as a wine man by definition, how else is he going to afford the finest vintages and bacchanalian rituals? Yet, one must agree that they’re already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg   . Well, I guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street ‘greed is good’ in all capital hill / government connected reps.

 

 

THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    Does regulation really kill jobs? (Washington Post) [ Just those corruption-related ones; those organized crime, as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’, bribes, etc., to go around. Energy Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I believe it’s time to start questioning what federal employees get paid for. After all, pervasively corrupt america is defacto bankrupt (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion ) . Moreover, america’s pervasive corruption, even crimes,  has become synonomous with the machinations of any number of federal agencies / departments / all branches of government  (ie., DOJ – holder/fast and furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims , Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission destroyed documents and compromised enforcement case ...   Sen.Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ Report: SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a ‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were murdered by mafia / organized crime [ this was documented with authority in ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] SEC faulted over records shredding The SEC destroyed internal documents that should have been preserved as official federal records, the agency’s inspector general has found. (Washington Post) [ Oh, if it was only that, and only the SEC; and if only they did an incisive investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate   http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html   Paul Joseph Watson | Over two dozen Republicans call for Holder to resign. Though heavily redacted, the documents directly discuss “Operation Fast and Furious” and how it involves “trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        

 

 

 

Ignatius: American history’s greatest flip-flop (Washington Post) [ That’s only if you can be certain of what’s been flipped; and, sifting through the obfuscation and propaganda, what’s really flopped in terms of so-called ‘american history’. 

 

The Gospel according to Obama The president’s contradictory theologies. (Washington Post) [ Oh come on, Mr. Krauthammer! Who’s still counting? Wobama’s total jive-talking b***s***! I mean, count the ways! There’s absolutely no end to his jive! Who’s still buyin’ / believin’? Fools and other ‘tools’?

 

 

Vladi­mir Putin: My vision for a better Russia (Washington Post) [ I certainly agree that Putin is a man of vision and a great leader of an historically great nation with a long, rich history. Moreover, as he astutely points out, candidates’ worthless promises have the hollow ring we see epitomized by the jive-talker wobama. As Russia made the transition passing through that oligarchical stage as mentioned, america has devolved into an oligarchy for which there are no meaningfully enforced laws / rules and for which this parasitic, symbiotically venal interaction between elements of all branches of the u.s. government and the oligarchs (ie., wall street, etc.) has been destructive domestically (ie., the national drain of corruption on k street, huge frauds, etc.) and globally (the military industrial complex, wars, etc.). The story of america’s rather brief history, beyond the propaganda, is, in a nutshell, one of ‘taking without asking’, without regard to meaningful law, common decency, or morality. The taking includes lives, property, and most recently, liberty (as manifested in various nefarious, self-created problems for which they provide ‘the solution’; ie., encroachments on speech, etc.).

 

Ter·ror·ist (Noun): Anyone Who Disagrees with the Government : George Washington : 02/08/2012 - 01:03 Any American Who Criticizes the Government May Be Labeled a Terrorist

 

Obamas Signing Statement on NDAA: I have the power to detain Americans but I wont  Infowars | I want to clarify that my Administration will not authorize the indefinite military detention without trial of American citizens. [ Who could possibly be foolish enough to believe even one word from jive-talking wobama the b for b***s***? Hes lied about everything! There is not one thing he hasnt lied about! Hes a pathetically failed president! ]

 

Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens.

Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.

Globalist Campaign Calls for Abolishment of Constitution Kurt Nimmo and Alex Jones | New York Times publishes front page article depicting Constitution as archaic and outdated.

 

Feds Label Bulk Buying of Food a Potential Terrorist Activity Paul Joseph Watson | Despite the fact that FEMA itself spent $1 billion dollars on storable food last year alone.

 

 

SYRIA: CIA-MI6 Intel Ops and Sabotage Felicity Arbuthnot | American and British intel agencies are in Syria executing a plan of destabilization
 

Pakistan Warns West Over Drone Killings of Innocent Civilians The Sun | Pakistan warned Britain to help stop the American “Drone Wars” that are slaughtering hundreds of its innocent civilians.

 

Iran: A Manufactured Threat Stephen Lendman | US media engineers recycle old messages – to pull the American mind-set towards a new war

 

 

 

The Posts View The Senate didnt do enough to stop insider trading Editorial Board Theres still too much ambiguity on rules covering lawmakers. (Washington Post) [ So much for nobody being above the law! I quite agree that absolutely no ambiguity; indeed, no wiggle room whatsoever should be countenanced in this legislation. Actually, an outright ban would be a more cut and dry approach and desirable. Objections? Dont run for office if you dont like the rule. After all, Washington politics has strayed a long way from being a public service sacrifice to rather an extravagantly accoutered, very costly to the public, but lucrative end in itself; and worse, regardless of results (the fiefdoms seem to be self-perpetuating). Yet, it still comes down to the meaningfulness of the laws, particularly relative to arbitrary enforcement; and, for those who believe the courts will apply those laws as written and intended, Im constrained to say from direct experience: You dont get out much! http://albertpeia.com/fbimartinezcongallard.htm     http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  

 

 

 

 

 

 

I Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent Employment Statistics?  http://theeconomiccollapseblog.com  http://albertpeia.com/governmentfraudulentemploymentstats.htm 

 

 

The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming  http://theeconomiccollapseblog.com http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm

 

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 should’ve been easy for the administration. (Washington Post)

 

‘The situation is getting more problematic for Greece day by day’Greece’s prime minister seeks rescue consensus amid political quarrels. (Washington Post) [ Indeed things are getting worse and in a manner of speaking now ‘B-B-B-B-Bad B-B-B-B-Bad B-B-B-B-Bad Bad to the bone’ (George Thorogood & the Destroyers’) Drudgereport: 2-7-12 Greece: 'There's no more left to cut'...  ,  Greek Economy Implodes: Budget Revenues Tumble 7% In January On Expectation Of 9% Rise Spiegel: "It's Time To End The Greek Rescue Farce"Illusion of Recovery: Feelings Versus Facts The Burning Platform | The false storyline last week was the dramatic surge in new jobs. ,  China's Road to Becoming a Reserve Currency The Wall Street Journal , Yes, It Is Halftime In America – So Now Is The Time To Get Your Financial Priorities In Order ECB  http://albertpeia.com/halftimeinamerica.htm  ,  Why Is Global Shipping Slowing Down So Dramatically?  ECB http://albertpeia.com/globalshipslowingdramatically.htm  ‘If the global economy is not heading for a recession, then why is global shipping slowing down so dramatically?  Many economists believe that measures of global shipping such as the Baltic Dry Index are leading economic indicators.  In other words, they change before the overall economic picture changes.  For example, back in early 2008 the Baltic Dry Index began falling dramatically.  , Believe In A Return To The Gold Standard? You Are Now Officially An Extremist According To The FBI 



 

 

 

 

 

 

 

Insider-trading probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services Committee is being investigated. 'This is a dog and pony show' (Washington Post) [ Yeah! And he’s both the dog and the pony. As for the paulson meeting and denial of ‘inside information’, one can only say for certain, giving bachus the temporary but unlikely benefit of the doubt, that paulson should be in jail for what they did for their buds at goldman et als. And dern it, as a wine man by definition, how else is he going to afford the finest vintages and bacchanalian rituals? Yet, one must agree that they’re already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg   . Well, I guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street ‘greed is good’ in all capital hill / government connected reps.

 

 

 

The Gospel according to Obama The president’s contradictory theologies. (Washington Post) [ Oh come on, Mr. Krauthammer! Who’s still counting? Wobama’s total jive-talking b***s***! I mean, count the ways! There’s absolutely no end to his jive! Who’s still buyin’ / believin’? Fools and other ‘tools’?

 

 

 

Vladi­mir Putin: My vision for a better Russia (Washington Post) [ I certainly agree that Putin is a man of vision and a great leader of an historically great nation with a long, rich history. Moreover, as he astutely points out, candidates’ worthless promises have the hollow ring we see epitomized by the jive-talker wobama. As Russia made the transition passing through that oligarchical stage as mentioned, america has devolved into an oligarchy for which there are no meaningfully enforced laws / rules and for which this parasitic, symbiotically venal interaction between elements of all branches of the u.s. government and the oligarchs (ie., wall street, etc.) has been destructive domestically (ie., the national drain of corruption on k street, huge frauds, etc.) and globally (the military industrial complex, wars, etc.). The story of america’s rather brief history, beyond the propaganda, is, in a nutshell, one of ‘taking without asking’, without regard to meaningful law, common decency, or morality. The taking includes lives, property, and most recently, liberty (as manifested in various nefarious, self-created problems for which they provide ‘the solution’; ie., encroachments on speech, etc.).

 

Ter·ror·ist (Noun): Anyone Who Disagrees with the Government : George Washington : 02/08/2012 - 01:03 Any American Who Criticizes the Government May Be Labeled a Terrorist

Obamas Signing Statement on NDAA: I have the power to detain Americans but I wont  Infowars | I want to clarify that my Administration will not authorize the indefinite military detention without trial of American citizens. [ Who could possibly be foolish enough to believe even one word from jive-talking wobama the b for b***s***? Hes lied about everything! There is not one thing he hasnt lied about! Hes a pathetically failed president! ]

Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens.

Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.

Globalist Campaign Calls for Abolishment of Constitution Kurt Nimmo and Alex Jones | New York Times publishes front page article depicting Constitution as archaic and outdated.

Feds Label Bulk Buying of Food a Potential Terrorist Activity Paul Joseph Watson | Despite the fact that FEMA itself spent $1 billion dollars on storable food last year alone.

SYRIA: CIA-MI6 Intel Ops and Sabotage Felicity Arbuthnot | American and British intel agencies are in Syria executing a plan of destabilization
 

Pakistan Warns West Over Drone Killings of Innocent Civilians The Sun | Pakistan warned Britain to help stop the American “Drone Wars” that are slaughtering hundreds of its innocent civilians.

 

Iran: A Manufactured Threat Stephen Lendman | US media engineers recycle old messages – to pull the American mind-set towards a new war

 

 

 

 

Obama plan: Debt will be $1 trillion higher in a decade than forecast Budget delays action on deficits in favor of spending on Democratic priorities aimed at middle class. (Washington Post) [ And you can take that to the bank! After all, we all know how ‘accurate’ - NOT! - wobama’s forecasts / promises are when in election mode; and, how so, so conservative in his assumptions, projections –NOT!- regarding same.
 

 

 

Mr. Obama’s budget Editorial Board Better than Republican alternatives, but far from what he promised. (Washington Post) [ Better? I don’t think so. Far from what he promised? How could anyone reasonably, rationally, realistically expect any less from wobama the b for b***s***? Milbank: Obama’s budget games He avoided anything resembling a serious proposal. (Washington Post) [ I’m totally astounded! I really am! I even checked / refreshed to see if this was a print / display error! Praise the Lord! It’s true! Criticism of his much-loved wobama! Even pinched myself to see if I was dreaming.  Who woulda think it? Tough love? I’d say we’ll happily take any criticism of wobama by Mr. Milbank as welcomed and nothing short of a monumental breakthrough, whatever the reason. But indeed Mr. Milbank’s quite right and the context is surely typical wobama election-year b***s***! 

 

Obama looks to tame U.S. debt Spending plan would pump nearly $500 billion into new construction projects over the next decade. (Washington Post) [ Tame u.s. debt … Yes indeed, by more record level spending … Sounds like a plan! Well, you know the drill; it’s an election year and it takes money ( that’s not really there, and no, not to make money ) to if not get elected, to enable an argument that, though contraindicated, you should be elected. I think we’ve passed the ‘fool me twice, shame on me’ threshold.  Obama Revises CBO Deficit Forecast, Predicts 110% Debt-To-GDP By End Of 2013, Worse Deficit In 2012 Than 2011Ben Bernanke FTMFW Quote Of The DayAnd the winner is... BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT … Here are some other pearls of ‘is dumb’ from helicopter ben b.s. shalom bernanke : http://albertpeia.com/30bunglebenbernankequotes.htm  ,  How much has Obama added to debt? OPINION | The amount he’s actually responsible for adding to the deficit is difficult to calculate.   (Washington Post) [ Well, when you’re dealing with debased, over-printed fiat currency and insurmountable debt levels, the precise amount of debt added on his watch matters less than the fact that he’s increased america’s debt by an amount in excess of the total amounts of all the nations’ presidents since Eisenhower combined. http://albertpeia/34shockingfactsaboutusdebt.htm    ,  Is the unemployment rate misleading? WONKBLOG | Some point out that it doesn’t count those who’ve given up looking for work. (Washington Post) [ Duh! Ya think? I don’t even buy their raw numbers; and, even if, arguendo, their raw numbers real, they are election year expedient at best for ‘reporting purposes’ and uneconomic, overcostly, and very, very temporary http://albertpeia.com/governmentfraudulentemploymentstats.htm  . White House was warned about Solyndra layoffs E-mails show Energy Dept. asked firm in October 2010 to delay news of layoffs until after midterm vote. (Washington Post) [ Those unaffordably costly jobs { 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...  }       and those unaffordably costly military industrial complex welfare programs .  The ‘so-called improvement’? At what cost for election appearances only?  (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com    http://albertpeia.com/34shockingfactsaboutusdebt.htm   ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…).

 

 

 

Milbank: Obama’s budget games He avoided anything resembling a serious proposal. (Washington Post) [ I’m totally astounded! I really am! I even checked / refreshed to see if this was a print / display error! Praise the Lord! It’s true! Criticism of his much-loved wobama! Even pinched myself to see if I was dreaming. Who woulda think it? Tough love? I’d say we’ll happily take any criticism of wobama by Mr. Milbank as welcomed and nothing short of a monumental breakthrough, whatever the reason. But indeed Mr. Milbank’s quite right and the context is surely typical wobama election-year b***s***! 

 

 

 

 

 

 

 

Even with bailout, Greece faces crushing debtGreece will labor under a mountain of debt many analysts say is unsustainable, even after a bailout that will pump $170 billion into the country over three years. (Washington Post) [ Unsustainable debt …  Sounds like America (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion )  . Greece reeling over deal on cuts Protesters flood the streets of Athens; leader fear new rules will worsen an already harsh recession (Washington Post) [ Death (of a nation) from a thousand cuts! This Is What An Economic Depression Looks Like In The 21stCentury   http://albertpeia.com/21centurydepressiongreecedusup.htm   Greek workers flood streets to protest deep austerity cuts Police and protesters clash after Greek leaders agree to deal in effort to help country avoid bankruptcy. (Washington Post) Check out this mind-numbing piigs reality ‘pictorial’ which doesn’t fall far from american home(y) reality http://albertpeia.com/europeandebtcrisispiigs.htm  . I’m not quite sure what it’s going to be yet, but I’m sure there’ll be another meaning attached to the term, ‘getting greeked’. Greek leaders reach agreement on austerity measures to avoid default European Central Bank president announces breakthrough in efforts to resolve region’s ongoing crisis. (Washington Post) [     ‘The situation is getting more problematic for Greece day by day’Greece’s prime minister seeks rescue consensus amid political quarrels. (Washington Post) [ Indeed things are getting worse and in a manner of speaking now ‘B-B-B-B-Bad B-B-B-B-Bad B-B-B-B-Bad Bad to the bone’ (George Thorogood & the Destroyers’) Drudgereport: 2-7-12 Greece: 'There's no more left to cut'...

 

 

 

Allan Sloan Marketing, hypocrisy and arrogance in Facebooks financial filing standard Wall Street fare.  (Washington Post) [ Well, they may not be selling the ‘Brooklyn Bridge’, but they are selling shares of the Empire State Building’ (presumably for those who want to evince paper ownership of a piece of the apple … sounds like a plan! ) The following was my reaction to the intrusive facebook sign-in that was employed by the LATimes (I no longer, for quite some time, post to that ‘lesser paper’) and immediately following, some facebook responses by me only for the record on my website:

Amber Britton
Marketplace Customer Service Lead

[email protected]
The following two comments sum up my view on the subject. I would add that I really think facebook, the company, has become political, government centric (as has google, microsoft, etc.), and intrusive and hence, untrustworthy. Moreover, I truly and seriously think they are a bunch of a**h***s. Indeed, their 'games' are pathetic and an insult to intelligence and typify the nerdy, neurotic persona of their founder(s) zuckerberg et als (I don't begrudge them their money but he is painfully neurotic from what Ive discerned);  and, contrary to the spin, ****************** I initially signed up for website representation and was 'tagged' by some old friends from high school and even earlier without which I'd otherwise be inclined to delete my facebook account.  If they were interested, they could sign up on the LATimes site, etc., themselves. This process of commenting is not brain surgery and for 'politically motivated' companies as facebook and the aforementioned, have the potential for a greater chilling effect on 1st amendment protected discourse. That facebook has become intrusively political is a testament to their 'hearing footsteps' of a fad of 'modern-day-hula-hoop' proportion; at the least, of 'also ran status' and hence, their entree into such arenas as this as the unavoidable but redundant 'middleman'. Publishers don't need them and should realize that. At most, it should be optional, which wasn't the case for some comments, despite my being signed in with the LATimes site, username, alpeia.
 
Signed: Albert L. Peia   http://www.albertpeia.com
Comments:
I thought that if you use a Google authentication that would require a real identity (troll prevention). I hate Facebook and I wonder how Goldman Sachs applies a 50 Billion value but who cares, I won't be buying it. All I can say is give us another way to comment using our real identities but make Facebook an option not the requirement.
Posted by: Charles Morris

Frankly, i avoid commenting systems that use the Facebook model. I don't need my friends getting my comments on subjects they could care less about, or getting my comments that are diametrically opposed to their own particular viewpoints…

 

Posted by: cabeachguy

 

alpeia at 07:55 AM October 22, [email protected]

 

The following two comments sum up my view on the subject. I would add that I really think facebook, the company, has become political, government centric (as has google, microsoft, etc.), and intrusive and hence, untrustworthy. Moreover, I truly think they are a bunch of a**h***s. Their 'games' are pathetic and an insult to intelligence and typify the nerdy, neurotic persona of their founder(s) zuckerberg et als (I don't begrudge them their money but he is ‘painfully neurotic’ from what I’ve discerned);and, contrary to the spin, I think facebook is very uncool and in many ways trite. I initially signed up for website representation and was 'tagged' by some old friends from high school and even earlier without which I'd otherwise be inclined to delete my facebook account…

Al Peia

http://www.albertpeia.com

 

Comments:I thought that if you use a Google authentication that would require a real identity... I hate Facebook and I wonder how Goldman Sachs applies a 50 Billion value but who cares, I won't be buying it... make Facebook an option not the requirement

 

Posted by:Charles Morris

Frankly,i avoid commenting systems that use the Facebook model. I don't need my friends getting my comments on subjects they could care less about, or getting my comments that are diametrically opposed to their own particular viewpoints

Posted by: cabeachguy

Automatic reply: Attn: Feedback

 

FROM:

TO:

·         albert peia

 

Friday, October 21, 2011 6:52 PM

 

I am out of the office on weekends and will return Monday morning.

If you need immediate assistance, please contact the VIP Customer Service team at  213-237-3464. You can also send an email to [email protected].


Best Regards,

 


Amber Britton
Marketplace Customer Service Lead

[email protected]
The following two comments sum up my view on the subject. I would add that I really think facebook, the company, has become political, government centric (as has google, microsoft, etc.), and intrusive and hence, untrustworthy. Moreover, I truly and seriously think they are a bunch of a**h***s. Indeed, their 'games' are pathetic and an insult to intelligence and typify the nerdy, neurotic persona of their founder(s) zuckerberg et als (I don't begrudge them their money but he is painfully neurotic from what Ive discerned);  and, contrary to the spin, I think facebook is very uncool and in many ways trite. I initially signed up for website representation and was 'tagged' by some old friends from high school and even earlier without which I'd otherwise be inclined to delete my facebook account.  If they were interested, they could sign up on the LATimes site, etc., themselves. This process of commenting is not brain surgery and for 'politically motivated' companies as facebook and the aforementioned, have the potential for a greater chilling effect on 1st amendment protected discourse. That facebook has become intrusively political is a testament to their 'hearing footsteps' of a fad of 'modern-day-hula-hoop' proportion; at the least, of 'also ran status' and hence, their entree into such arenas as this as the unavoidable but redundant 'middleman'. Publishers don't need them and should realize that. At most, it should be optional, which wasn't the case for some comments, despite my being signed in with the LATimes site, username, alpeia.
 
Signed: Albert L. Peia
Comments:
I thought that if you use a Google authentication that would require a real identity (troll prevention). I hate Facebook and I wonder how Goldman Sachs applies a 50 Billion value but who cares, I won't be buying it. All I can say is give us another way to comment using our real identities but make Facebook an option not the requirement.
Posted by: Charles Morris | March 16, 2011 at 06:32 AM
Frankly, i avoid commenting systems that use the Facebook model. I don't need my friends getting my comments on subjects they could care less about, or getting my comments that are diametrically opposed to their own particular viewpoints. We all have differing viewpoints on matters, and most of us know not to discuss those subjects with our friends that may (or are) rabid or reactionary.
 
So...when I post a comment regarding my leftist Kennedy Democrat leanings, I don't need it to be sent to one of my best friends who is a die hard Republican and former "operative" in Massachusetts politics. Similarly, I'm an agnostic while my brother is a born-again Baptist. Do I want him to get missives via Facebook every time I post somewhere regarding the lack of logic exhibited by the true believers?
 
We are all bombarded with information overload every day, taking up more and more of our time and brain bandwidth. I only want information that is relevant to me, and I'm sure my friends, family and business colleagues feel the same way.
 
Just think of the way the newspaper or LATimes website is structured: designed in sections so that the people interested in sports, food, politics etc. can access that info readily, without having to sift through and look at a bunch of extraneous info they could care less about.
 
Posted by: cabeachguy | March 16, 2011 at 06:46 AM
 
 

·  Pat Donnelly Lenart Merry Christmas kindergarten friend!...lol

 

· 

Al Peia Thank you Pat. Truth be told, I was always quite fond of that picture which was among those items/pictures stolen by that junkie / meth addict here in socal. I truly was glad Loraine posted same and I uploaded it also to my website as here for storage because here as particularly in jersey, s*** happens.

 

· 

Al Peia Merry Christmas and Happy Healthy New Year!

 

· 

Al Peia regards, Al Peia

 
Gary Wallen
Sad day for me!

We had to put down my great companion Nikki down today. Almost 12 years old Great Pyrennes (they were bred do guard sheep and protect them from bears and wolves). Truly a great dog who had a mind of her own and was loyal and I will really miss her. I have owned 3 great dogs in my life and all have lived to old age for a dog. It truly makes your heart feel sad when you finally have to say good-bye.

I hope my kids pull the plug on me so I don't suffer or are ever a burden to them.

Nikki, I will miss you!
 
[ Freakin Wal! ]

·  Betsy Ciocci So sorry Gary. It really is hard. Nikki was so lucky to have you and you her. What a great gift you gave her by letting her go so she would not suffer. That is love.

Tuesday at 5:44pm · Like

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Pat Donnelly Lenart Gary sorry! I've been there and it is a very challenging experience when a long term companion has to leave.

Tuesday at 5:51pm · Like

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John Badasarian Sorry to hear that Gary....I know she was a great dog...

Tuesday at 5:54pm · Like

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Gene Laks Sorry to hear such sad news. They truly are our children

Tuesday at 6:07pm · Like

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Vicky Dodson So sorry to hear about Nikki. Beautiful dog...

Tuesday at 6:14pm · Like

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Christa Krumins So sad. I am sure she had a wonderful life.

Tuesday at 6:33pm · Like

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Lisa Wolfe Rozgony Sorry about the loss of your beautiful loving dog..She is at peace now..

Tuesday at 7:18pm · Like

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Raina Grand Kass so sorry for you--been there-not a good place--feel better

Tuesday at 7:25pm · Like

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Alecia Bicher This makes me so sad. She truly was a great dog and so gentle. Sorry for you guys.

Tuesday at 7:36pm · Like

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Alecia Bicher P

Tuesday at 7:36pm · Like

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Ellen Silverstein Levitt Sorry for your loss.

Tuesday at 7:57pm · Like

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Steve Schoenberg Very sorry Gary. Been there.

Tuesday at 8:10pm · Like

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Greg Bolosky I share your sorrow. She looked like a grand dog.

Tuesday at 8:10pm · Like

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Elizabeth Allee So sorry my dog is the most precious thing to me. I have often thought what would I do without her. Dogs are the most loving creatures and are meant to be by our side. There are so many here that are abused and do not have good homes. I am sure you had a loving home for a beautiful animal. Just remember the unconditional love..........

Tuesday at 8:16pm · Like

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Gale Kanyok Sostek Gary, Great Pyrennes are such wonderful and gorgeous dogs. You are ever so blessed to having had one own you. My heart goes out to you, at this most difficult time. Know that your Nikki will always be with you in spirit. xo

Tuesday at 8:55pm · Like

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Catherine Palmer Lord Gary, I'm so sorry about your Nikki. My heart goes out to you and your family. I'm sure she's running around in heaven with my cat.

Tuesday at 9:02pm · Like

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Jim Jackson GW - Nikki was a great dog, sorry, My kids labs (Kobe and Jordon) both went down last year.... A real bummer

Yesterday at 4:44am · Like

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David Spenard Sorry to hear about Nikki Gary. She was truly a one of a kind dog.

Yesterday at 4:49am · Like

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Larry Rosefield sorry for your loss gary..my two dogs two of my best friends and eating companions....as to becoming a burden to our kids (i keep a .357 and a bottle of xanax in my nightstand) just in case.

Yesterday at 5:46am · Like

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Lorraine Fleming So sorrry, my little guy is young but I can say that he is better than people. Everyone should wag their tail and be so happy to see me when I walk in the door.

Yesterday at 6:27am · Like

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Neal Remz Sorry for the your loss Gary, had to do the same thing about 4 yrs ago with our 17 yr old dog Abby.

Yesterday at 6:43am · Like

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Joyce Foosaner Grossman So sorry...I remember the day my dog was put done too..

Yesterday at 7:40am · Like

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Susyn Bernstein There are no words....my dog is so much a part of me, my life and history and I know this is something I must face in not too far future. I'm SO SORRY for your loss!!

23 hours ago · Like

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Gail Hogan Nastasi Gary, I feel so sad foryoubut you were very strong to do that. My

18 hours ago · Like

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Gail Hogan Nastasi prayers go out to you and your family

18 hours ago · Like

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Keith G Loranger Sorry for your loss , dogs are great friends

4 hours ago · Like

 
 

Al Peia

·         Eggi:
Happy, healthy birthday to you and best wishes for many more to come! You may have noticed some news stories surrounding the earthquake damaged Washington Monument (or not
Washington Monument remains closed msnbc.com ) which brought to mind that long weekend excursion to D.C. you may recall (just a few years ago) upon Wals recommendation since AU was sporting an outdoor concert [Little Richard(whats up with that?) turned out to be the warm-up band to the featured band, Procol Harem] and there was to be a massive protest / demonstration / camp-out at the monuments (and of course to hear Forest Gumps speech just kidding). The (evening) concert in their amphitheater was cool and stylishly late 60ish, early 70ish. Its at this point that youll have to rely on my memory of the events immediately thereafter. As always, we were in search of babes of easy virtue (the free-lovin hippie girls were made to order for expedient, pseudo-hippies at best like us looking for a proverbial roll in the hay, euphemistically speaking). In fact, you shrewdly from a hawking perspective hooked up with a bunch of hippies at the concert and proceeded to get quite stoned while smoking what you assumed was just pot throughout. At the end of the concert, Wal gathered us up to head to the monuments where huge numbers were camped out for the rallies the following day. When we finally found you, you were sitting with just a few of the bunch you were with, unable to speak, stand, or move at all. You seemed totally paralyzed. We asked them what they were smoking to which they replied, pot laced with angel dust (pcp-I didnt even know what it was). They assured us youd be okay by morning. Finally, since Wal seemed to be in a rush to get to the monuments, we literally had to guide you by arm to the car and through the monument campout grounds at a very brisk clip for reasons only Wal could explain, stopping to speak to no one [ You guys had mentioned that at Woodstock (I couldnt get off work at Arcola Pool) Wal was a bit freaked by all the havoc and particularly the unsanitary conditions, even to the point he was refusing to check out the naked babes swimming openly without inhibition which you guys were really into, by your accounts. ] You were indeed fine by the next day, and we partied / got drunk and we wound up at The Waff. Wal was totally drunk, had a black water pistol (looked like a .38 cal) , and was squirting everyone. Suddenly, out jumped two plain clothes cops (I assume DC Police Detectives FBI always announce / show their badges). Wal was so drunk he was still laughing and shooting the water pistol even as they slammed him up against the wall, guns drawn and pointed to his head; even as I was yelling at their over-reaction; and that it was a water pistol. As bad as that was, in todays environment, wed likely have been shot. (I think this was the same weekend as the concert).
Happy Birthday Eggi!
Al

 
 
Gary Wallen

Well, someone finally wrote a song. Here 'tis....


http://www.youtube.com/watch?v=6RzcvFLPg1A

 
 
Gary Wallen
I could not sleep last night and went for a bike ride at 3:00 AM. No one on the road but made me think that we are getting a lot closer to the backstrech. And I used to think my parents were ancient.
 
Gary Wallen
ALSO FOR MY BASKETBALL CHALLENGE I WENT TO THE PARK TO SHOOT YESTERDAY. I PROBABLY HAVE NOT SHOT IN ABOUT 8 YEARS AND DID A FEW WARMUPS AND PROCEEDED TO MAKE 37 FREETHOWS IN A ROW. I THOUGHT THAT WAS PRETTY IMPREESIVE FOR A 61 OLD.
 
 
 
Gary Wallen
I had an interesting challange from a 33 year old guy at work who never even
played high school ball. He said he could kick my ass in hoops. I know I can
still shoot, because you never lose that and I now I can always post my fat ass
to the hoop. I wonder if i could still kick his butt a age 61. My guess is a
definite yes .GAME ON.

 

 

 

 

Gary Wallen
Gotback from the dentist with two new crowns for my front teeth from my bycyle accident. Amaszing what they do with modern technology. No more making molds, they can scan your teeth and you get a perfect match. Plus, I got great feedback from the 30ish hygentist that I am now good looking again...!!!! Jill is in San Diego visiting our son Jason and I wish I could be there.

 

 

 

 

Gary Wallen
I went for a bike ride, fell and broke two teeth. My dentist is on vacation this week. Probably the ugliest smile in history. Trying to let the trauma subside before I go to his back up. It sucks getting Old.

 

 

 

Gary Wallen
I have learned to appreciate life much better and try to enjoy every day now that I am only a year away from being eligible for Social Security. I still find that very hard to say! I feel like I'm turning into my father, which is really scary. Everybody enjoy each day as if it may be your last and don't let the little things in life bring you down.
Gary Wallen
To everybody who wished me a happy b-day, Thanks...!!! Where has the time gone? It feels like yesterday I was in HS playing sports, not 43 yrs ago. I still remember going to Woodstock, going Up-State, the Canteen dances, Jimmy Byrnes at the Jersey Shore, the Prom with Jill Baines and much more.

 

 

Al Peia

Hey Wal:

I could have made this more cruel (but our longstanding friendship, upon reflection, got in the way and I deleted some) ***************. To save you from yourself and from becoming a facebook / internet bully, I write (and I'm smilin' as I do so) as follows:

 

Wal, I'm surprised and take umbrage at your insensitive remarks and on behalf of short people everywhere, I write in response to your observation immediately hereafter: '12-17-10 Gary Wallen Chalk it up to cold Darwinism, cultural standards, or the simple feminine desire to have a man around who can reach the top shelf, but just about every stature study in the last 20 years confirms what short guys already know: women prefer taller men.[ Wal, I believe this to be among the greatest insights into 'short people' since randy newman's hit song of the same name.] ...It's nice to be 6''5". I didn't know the average height for a man in the USA is only 5'9".' [***** And, I'm sure that 'great stature thing' was what the dinosaurs were sayin' just before ..... then there were the archaic modern human antecessors ..... I think we should ask the Chinese, Japanese, etc., what they think ... my own (different female sexual partner) liasons numbering in the low to mid hundreds (no exaggeration - and I can truthfully say that every girl among them I truly liked) probably meant, fortunately for me, said girls had not read your surveys ... The only direct experience (hardly a random sampling for statistical validity) concerned that attractive 'Ridgewood girl' in the convertible with a mini-skirt that left little to the imagination who chose a short guy (me at 5'6" over that 3 varsity letter man you kept reminding her - I won't mention your dangling, by a string of saliva, throat lozenge that landed on her lap which I'm sure helped 'seal the deal') over that big guy (you at 6'5") ... Then there's Napoleon, Putin, Jefferson, Washington, etc.. There's also danger (liasons dangereux) as Julian Assange can attest to and I also experienced in light of my RICO litigation on my 'road to interim / temporary sacrificial celibacy', which has been great for my concentration ... It's brain size / capacity, short and simple, in the new century particularly, as it always was! ( About 23 million years ago hominoids appeared in the form of primative apes. It was from one of said primative apes that the family of man, Hominidae branched off 6 to 5 million years ago. The bigger brain and consequent ability to manipulate environment were the key to evolutionary success. The Darwinian model of a steady, gradual 'fine-tuning' of natural selection has been totally disavowed by all experts in favor of the view that natural selection is a conservative force, acting rather relatively quickly, to maintain a species adaptation. )

 

Finally, Wal, you may remember the first time we had gotten stoned. I was living in Seacrest Beach (summer, 1970) and you came down for the week. Two girls I had previously met on the beach apparently scored some pot (and probably needed a place to smoke it) stopped by; and we smoked some (I snitched a little which we were to continue smoking later.) Truth be told, in what was probably the only instance where being short was of a distinct advantage, I was paired with the smaller (about 5'4"), very cute and pretty blonde cheerleader from Parsipany, while you got the near 6' but also attractive friend. The pretty blonde and I retreated to my bedroom. Unfortunately for you, the tall girl you were with was bitchy and witchy (you may recall she was a self-proclaimed witch who had also dubbed me, 'Alday'. Our attitude concerning such personality quirks was one that comported with our rather shallow, jockish, but very expedient mindset with girls; viz., as long as they were attractive and 'put out', just fine ... or as they say here (in southern California) in the valley, 'whatever'). When they left, we smoked what was left of the pot, and you immediately began cooking up food (munchies) and as I watched you, you appeared to be moving in a very jerky but slow motion fashion (like a slow motion, 15 fps old silent film) to which I called your attention more than once also attributing same to your being stoned ... Finally, you abruptly stated that it was I who was stoned which I hadn't realized up to that point but suddenly realized was true. But it was also true that we were both stoned. ] ... JUST FUNNIN' WITH YOU, WAL! Regards, Al

 

----- As I previously related to Charlie Crane regarding that '21 questions thing' on facebook, and in light of your prior inquiries: The following is what I'm waiting on (note the disks sent twice to the FBI were waylaid by the u.s. postal service and finally delivered by UPS, causing delays). Hey Charlie! Thank you for your vote of confidence and kind remarks. I think you're correct on all counts. The last I heard (1992) you were doing extremely well (I think running a new car dealership and making loads of money, etc.). I remember in 7th grade you kept the class in stitches with your spontaneous, often hilarious humor, and in high school you were very prominent and tough on the football field. However, you did err regarding a girl (initials B.R.) in our 7th grade class who while wearing tea shirts then (you reminded her), wound up by high school having among the biggest pairs of t***s in the school.

 

The following is what I'm waiting on (note the disks sent twice to the FBI were waylaid by the u.s. postal service and finally delivered by UPS, causing delays). Regards, Al

 

October 15, 2010 (*see infra)

Steven M. Martinez, Assistant Director In Charge Federal Bureau of Investigation, USDOJ

11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar). The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ]. Continued December 19, 2010 at 4:31pm · Like Al Peia Cont’d The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . ...See More December 19, 2010 at 4:32pm · Like

 

 

 

 

 

 

Eggi:

 

Thank you for the birthday wish, and though somewhat remiss in such things as this I'll make sure I don't miss yours. It's springtime and 'back when' as now, the same meant spring break. In discussing spring break with the instructor at the LATTC workout facility where I worked out, I told him the story you may recall of our spring break excursion to Fort Lauderdale / Daytona ('Where the Girls Are'). I also told him that you guys would never let me live this down ... but that I deserved not being able to live this down ... he couldn't stop laughing. Though set up by Steve with a great pad, viz., Harvey's plush apartment, we were not able to get any babes back to said pad. Indeed, the prevalence of 'sopers(sic)'(muscle relaxants/downs) made Steve's apartment, despite early unbridled enthusiasm including 'air guitars' to 'Gimme Shelter', look like the sight of a bomb blast with bodies strewn about, having 'fallen out' (except for that one 'curious' guy whom we'd invariably find struggling to stay awake and not 'fall out'), when we returned from our (unsuccessful) hawking rounds on the strip. We found this quite amusing and stuck to our 'smoke/boone's farm apple wine' regimen. We then went to Daytona where we met 3 attractive girls whose hardluck story was that despite having rented for the week, the landlord of the motel said they were to leave (in favor of some guys who had probably paid him extra). In what I described to some as 'my first legal case', I felt this to be wrong (I had business law and at the least this was breach of contract) and threatened to go to authorities / mayor's office to register a complaint. He relented, and the girls kept their room and came back to ours. We smoked hashish and we all got totally stoned. The truth is I was so stoned, I couldn't make up my mind which girl to go after and was as you aptly put it, 'floatin''. Daytona / floater, you guys rightfully got on my case for that one. I'll never live that down.

 

Regards,

 

Al

 

 

Hello Ellen:

 

Thank you for the second year in a row for the birthday wish, and though somewhat remiss in such things as this I'll make sure I don't miss yours. You may recall (just a few years ago) at Steve Marcus' Bar Mitzvah at B'Nai Birth (?) how I walked into the chapel sans yarmilke and shawl and got a few looks. Your Dad interupted his duties to attend to my 'lapse in protocol' and escorted me to a separate room and supplied with same. He seemed amused by it all which I thought was very cool; and, I thought to myself what an nice, intelligent, and balanced man he was.[ In today's environment, such as it is, I would probably have been accused of anti-semitism and taken out back and shot ... just kidding! (such an accusation would have been ridiculous then as now). ]

 

Regards,

 

Al

 

 

 

 

Doug:

 

Thank you for the second year in a row for the birthday wish, and though somewhat remiss in such things as this I'll make sure I don't miss yours. I could not help but notice your eclectic taste in and knowledge of such a wide variety of music. I've pretty simple musical taste (classic rock - ie., Beatles, Stones, Doors, Yes, Grand Funk, jefferson Starship, Supertramp, Creedence, Fleetwood Mac, etc.), some pop (ie., Cats, etc.), and of course, classical. I did see a reference to roller skating and you may recall our 'wild sessions' of same at the Church gym. I must say that to this day I'm somewhat ashamed of our youthful indiscretion / bad judgment in subtly mocking 'little hooky'.

 

Regards,

 

Al

 

 

Hi Neal:

 

Thank you for the second year in a row for the birthday wish, and though somewhat remiss in such things as this I'll make sure I don't miss yours. When I scan FB 'headlines' I can't help but notice your beautiful family which probably makes you a living American testimonial to the beauty and benefits of Ireland, and as well, very proud.

 

Regards,

 

Al

 

 

 

Bob:

 

 

Thank you for the second year in a row for the birthday wish, and though somewhat remiss in such things as this I'll make sure I don't miss yours. Sorry to hear of your medical difficulties and my best wishes for speedy recovery. As for your jersey government complaints, I've found mob-infested jersey to be totally hopeless [ You might find this link interesting re: same  http://www.albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf    (I'm waiting on the FBI whose position will determine mine)  - plus, as pertains to the political scenario including the mob, sean hannity lives in jersey, so what can you expect.  ] .

 

I include the following which in the process of updating / completing my skills / knowledge  base were part of exercises therein (also on my website):

 

I support the police 100% for good reason and previously wrote: CITY ON EDGE: Cash-Strapped Newark, new jersey Forced To Lay Off 14% Of Police Force... [ From decades old (1978-1985) direct personal experience with newark, n.j., the police are the absolute last cuts that can be afforded to be made. Indeed, while walking through Military Park (a sliver of a “park” - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DA’s position with both felonies ( he went to prison – pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of ‘bystander effect’ / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp (a police officer here in California was the object of intense criticism for having used a flashlight to subdue a criminal after a long chase so I included that here) . The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal went to jail. The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so). (Other newark / new jersey and new york, n.y. metro, viz., ie., connecticut, and of course, d.c., d.c. metro, viz., ie., virginia experience … corrupt federal judges as maryanne trump barry, sam alito, shiff, matz (california), hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken (AP)   Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case              http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf        

 

 

 

 

Regards,

 

Al

 

Hey Wal:

Happy, healthy new year to you and your family. My changed number was to 'magic jack' (I recommend it) since my att/sbc (jersey / bushland) phone line became unusable, affecting my dsl line which I dropped in favor of Time Warner Cable / Internet. I last spoke with the FBI in January, 2011, who informed me that 'they printed out the documents on the disks', which is, in their somewhat cryptic way of saying, a good thing. Their position will determine mine. I'll let you know when I do.

Regards,

Al

 

 

CHARITY QUIZ: Would Al Peia play truth or dare?

Lorraine Fleming answered this question
 

Lorraine:

You're quite right. I've been playing every day since I sued the mob in mob infested jersey. I'm currently waiting on the FBI whose position will determine mine.

Regards,

Al

Egils Obsteins

 

CHARITY QUIZ: Is Al Peia awesome?

Egils Obsteins answered this question

This week, each time you answer a question about a friend, our sponsors will donate food to a hungry child. With your help, we are now funding 1 meal every minute!

Al Peia Eggi:

Thank's for your affirmative vote. I'm sure you know it's mutual. As such, I have somewhat of a confession to make. You may recall how much we kidded you that summer by singing that song by the Brooklyn Bridge, 'The Worst That Could Happen'. Yet, truth be told, I always thought 'the Bloomfield Cheerleader' was a total babe (and Latvian at that) and well worth the break with Pam.

Regards,

Al

 

Charles just answered a question about Al!

Al has new answers to unlock.

 

Al Peia

Hey Charlie!

Thank you for your vote of confidence and kind remarks. I think you're correct on all counts. The last I heard (1992) you were doing extremely well (I think running a new car dealership and making loads of money, etc.). I remember in 7th grade you kept the class in stitches with your spontaneous, often hilarious humor, and in high school you were very prominent and tough on the football field. However, you did err regarding a girl (initials B.R.) in our 7th grade class who while wearing tea shirts then (you reminded her), wound up by high school having among the biggest pairs of t***s in the school. The following is what I'm waiting on (note the disks sent twice to the FBI were waylaid by the u.s. postal service and finally delivered by UPS, causing delays).

Regards,

Al

October 15, 2010 (*see infra)

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024

Dear Sir:

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

(continued)

Al Peia

‎(cont’d)
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,

1. A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
2. Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
3. The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages: [ Shiff Order of Dismissal With Prejudice on Coan’s Failure to File Page 1 Page 2 ]
4. Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [ transcript in pertinent part - crossexamofcoanbypeia.pdf ]
5. Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
6. Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.], Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

Sincerely,

Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) ***-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).




----------

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. ]

December 14, 2010

Al Peia

Hi Lorraine:
Thanks for the tip. I could always use some weight loss; but, frankly, when I so choose I use the 'old wrestling diet' of not eating. You look healthy. I remember in first grade, we used to compare lunches in our 'little lunch boxes' (do they still use them?) and you gave a thumbs up to my least favorite lunch 'cheese sandwich', saying your grandfather told you that cheese was good for your teeth, which made my subsequent least favorite lunches more palatable. Wal (Gary Wallen) has always been a cheese aficionado, so much so that he earned the nickname 'cheese' / 'cheeseburger' at American U. where we used to visit Wal on a very fun campus. (I can attest to Wal's affinity for same from our 'shoretime party days' and when we worked together at Arcola Pool).

Regards,

Al

 

 

 

Lorraine Fleming

That must have come up in the ad column cause you are not the first person to comment. I have never used this product and do not endorse it. I could use some weight loss, but rather would count carbs and do some walking/stretching/dancing...See More

July 25, 2010 at 9:26am · Like

Lorraine Fleming no more little lunch boxs, use an insulated bag!

July 25, 2010 at 11:35am · Like

 

Al Peia Ah! I knew times were a changin'

July 25, 2010 at 9:48pm · Like

Al Peia

Hey Wal!

Happy healthy new year to you and your family. Thanks for your kind offer and I would extend the same courtesy out of friendship to you if the matter resolves, which at this juncture is in the hands of the local Congresswoman (I received an email from her, concurrent with some purported FBI correspondence), the Honorable Lucille Roybal-Allard (which also means I would make a commitment to her district, including marrying an Hispanic girl on favorable resolution- She's on the Homeland Security Subcommittee and is Whip, Congressional Hispanic Caucus) and the FBI and DOJ to whom I recently had to sign/give broad consent to 'check me out' again, despite having dealt with the FBI throughout this entire, sordid, particularly for the government, affair. Interestingly, the former FBI Director Louis Freeh with whom I dealt, who unfortunately had jersey boy roots, had cashed out, left the FBI, and now has Italian Citizenship, etc.). The proximity to San Diego would facilitate your seeing your son (I assume he's Navy) but it would be impolitic to discuss such now since I did, appropriately, sue the government which did not win me friends nor influence people therein but rather I suspect got me on one of their "lists" owing to their infinite state of paranoia (I say with no exaggeration that the rest of the nation's citizens have been screwed more thoroughly by the incompetent, corrupt elements in the government as well). I know I don't have to tell you what you already know, that you'll always be one of my best friends. I have already taken steps toward a position outside the country through a local contact's contact, my passport current, absent favorable resolution. I always say what I mean, and mean what I say and will call you as soon as I know. [my land line 213-622-3745 but cell phone better 213-219-7649]. I don't and haven't been to facebook for quite some time - I'm not into the typing.

So long for now, Big Fin, who I call Wal!

AL

Gary Wallen
Albie, I don't get on facebook enough but what's up with your thing about going out of the country? You could always come and stay with me. I was thinking of the Jersey shore the other day when I watched some stupid reality show about some young Italians parting at the shore. Always remenber JIMMY BYRNES, THE OSPEY, ETC. Remember t...See More

January 8, 2010 at 5:18pm · Like · · See Friendship

 

Al Peia

Hey Wal!

Happy healthy new year to you and your family. Thanks for your kind offer and I would extend the same courtesy out of friendship to you if the matter resolves, which at this juncture is in the hands of the local Congresswoman (I received an email from her, concurrent with some purported FBI correspondence), the Honorable Lucille Roybal-Allard (which also means I would make a commitment to her district, including marrying an Hispanic girl on favorable resolution- She's on the Homeland Security Subcommittee and is Whip, Congressional Hispanic Caucus) and the FBI and DOJ to whom I recently had to sign/give broad consent to 'check me out' again, despite having dealt with the FBI throughout this entire, sordid, particularly for the government, affair. Interestingly, the former FBI Director Louis Freeh with whom I dealt, who unfortunately had jersey boy roots, had cashed out, left the FBI, and now has Italian Citizenship, etc.). The proximity to San Diego would facilitate your seeing your son (I assume he's Navy) but it would be impolitic to discuss such now since I did, appropriately, sue the government which did not win me friends nor influence people therein but rather I suspect got me on one of their "lists" owing to their infinite state of paranoia (I say with no exaggeration that the rest of the nation's citizens have been screwed more thoroughly by the incompetent, corrupt elements in the government as well). I know I don't have to tell you what you already know, that you'll always be one of my best friends. I have already taken steps toward a position outside the country through a local contact's contact, my passport current, absent favorable resolution. I always say what I mean, and mean what I say and will call you as soon as I know. [my land line 213-622-3745 but cell phone better 213-219-7649]. I don't and haven't been to facebook for quite some time - I'm not into the typing.

So long for now, Big Fin, who I call Wal!

AL

Howard Lipstein
you were a good wrestler compared to me, you beat me out easily for the team

 

Al Peia

Howard:

Thank you for your gracious and overly humble comment. Over time, such things become less and less important and I can't say that I actually recall that, per se. As we both know, wrestling was never a pleasant undertaking and although I respect(ed) the sport, I made it a point never to set foot on a mat off season. You may also find it somewhat ironic that I actually had made the basketball team (Hubie Brown for whom I had high regard was varsity coach and Richie Szura
the J.V. coach), which sport I enjoyed; and in a meeting arranged by Dan Deluca (I had won a tournament in junior high and the match against the rival Thomas Jefferson Junior High) with Coach Szura wherein Szura nicely but candidly told me that although I had made the team, "that I wasn't the tallest of angels" (which I thought was very funny and we all laughed) and essentially I'd be warming the bench while Deluca guaranteed me a varsity letter for wrestling the easy matches since varsity wrestler Richard Zocco was having difficulty making weight (he never made weight). As trite and cliched as it sounds, it was the varsity letter guarantee
that sealed the deal (and in my mind, the prospective "help with the babes therefrom" - actually, it was only the pretty sophomores with whom it ultimately paid dividends so to speak - how very high school). I had a great Coach in Roger Saunders who recruited me to NYU (Roger and his brother Richard, a CIA agent/mechanic, were both national champions). Wrestling has always been an important learning experience for me. Such a kind and humble remark as yours
deserved a greater explanation.

Al

Drudgereport: Car of Republican Philly Mayor Candidate Vandalized -- for the 10th Time! [ The ‘city of brotherly love’ that loves the bros! I was recruited by Temple University, but not seriously from my own perspective, infra; but, I had never seen a college wrestling match, so I went along as invited. When we came out from the match, the quiffy spike israel’s ‘little buddy’ jimmy fiore’s car was ‘sitting’ on its rims, all four tires stolen, etc.. --- On Wed, 11/18/09, ethan lichtblau <[email protected]> wrote:
From: ethan lichtblau <[email protected]>
Subject: Your NYU Wrestling Experience
To: [email protected]
Date: Wednesday, November 18, 2009, 11:39 AM

Hi Al,
 
I know of you from my old wrestling coach, Ron Pollack.  I know that you wrestled at NYU, and that you won the Met Championships.  I am writing a book about my own experiences in wrestling, judo, and ju jitsu.  I wrestled in the Met championships in 1984 when they were held at NYU, and I remember seeing an old newspaper article they had on display that talked about you winning the Mets in '72 or '73.  You beat Pollack in the finals.  Pollack's coach was quoted in the article as saying that Ron "gassed out", I'm assuming from nerves.  I am really interested in the phenomenon of "choking" in a sports event due to being nervous.  I was wondering if you had any memories you could share about this particular match?  I know it was a long time ago, but if you do remember anything I would appreciate whatever you could share.
 
Regards,
 
Ethan Lichtblau

Date: Wed, 18 Nov 2009 22:50:55 -0800
From: [email protected]
Subject: Re: Your NYU Wrestling Experience
To: [email protected]

Hello Ethan:

The mother of one of our team mates worked with Ron Pollack's dad who kept telling her how badly Ron Pollack was going to beat me (some others played him up saying he consistently beat his team mate stu pruzansky by substantial margins and other such things). In fact, he took an early lead with a take-down that he was quite good at and I was looking for (something between a firemans' carry and a barrel role)[1972]. However, by the end of the match, he was quite haggard, in tears, and I actually had to hold him up on the podium. My tougher match was the semi's where I met two-time defending Met Champion Ed Rufrano (he got a special trophy for scoring the most team points over a period of time). He was quite strong and although I won, I had slipped a cervical disk (for which I ultimately needed traction - I couldn't even do a push-up after a couple of days which is very humbling when one relies so much on will-power). I had also beaten Ron in the finals of the Freshman Met Tournament. I was injured by the end of the season in the two prior intervening years (interestingly, the neurologist for the herniated disk pointed out that my bones were relatively small compared to my musculature/body-mass). I was fortunate to have a great coach in Roger Saunders (Roger and his brother Richard, a former CIA Agent/Mechanic, were both National Champions). I couldn't imagine Roger saying one of his wrestlers "gassed out", even if true. Ron certainly didn't "choke" in the first period, if at all.


Regards,


Al Peia

______

From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Thursday, November 19, 2009, 2:07 PM

I really appreciate your insights about this.  I never got a chance to speak to Ron about his own college wrestling days.  I only knew him when I was in  high school, where he was coaching a bunch of local high school wrestlers on a part time basis.  He was also helping out at his alma mater
(?FDU) assisting a guy he used to refer to as "Metz" or "Metzy".  By then he was a fairly un-assuming guy and never even told me that he had taken a 2nd at the Mets when he was in college.  By the time I went off to NYU Ron had left town to go to chiropractic school, and I don't think we ever saw each other again.
 
I now remember what struck me so much about that article that was posted at NYU.  It was accompanied by a picture of three guys on the podium.  You were holding Ron up and he was crying.  It's really a classic picture, even more so because unless you know the "back" story you can only imagine what is going on in the wrestler's heads at the moment the shot was taken. I saw this picture once about 25 years ago and it still sticks in my head.  I was wondering if you could clarify:  I am assuming your coach was named Saunders.  He wasn't the one who spoke of gassing out.  Like I said above, I thought Ron was coached at FDU by a guy he used to refer to as "Metz".  It was either Ron's coach (whoever he might have been) or perhaps Ron himself that stated in the article that Ron had "gassed out".  I also remember now that there was some suggestion that he had come down with a flu, which might explain his reaching a state of exhaustion by the end of the match.  Or perhaps you just kicked his ass in in the last 2 periods.
 
Speaking of Stu Pruzanski,  I never met him , but I knew his brother Dave a bit.  Dave owned a gym in the early '80's and our Judo club used to work out there for a while.  This was another guy who never really told you much about himself.  I only found out years later that he once wrestled Gable to a tie.  He was also the only guy to ever win US National championships in Judo, wrestling, and Sombo, all in the same year.  (?1972).  Years later, maybe 1985 or so, he decided to make a comeback in Judo.  He cut a shit load of weight and ended up fighting me in the finals of a small regional tournament.  I beat him by decision, but really got no satisfaction out of beating a guy who was so out of shape.  Can't remember if this was before or after one of his kids committed suicide.
 
Ethan
 


 

Date: Thu, 19 Nov 2009 23:49:19 -0800
From: [email protected]
Subject: RE: Your NYU Wrestling Experience
To: [email protected]

Roger Saunders was my coach at NYU and clearly, a great one at that, who subsequently went to Bloomsburg where he was ultimately Athletic Director on last info. Bob Metz had quite a few winning teams at FDU, but he was not Saunders whose brother's wrestling success I alluded to so as to emphasize his wrestling prowess as no fluke. The last I heard of Dave Pruzansky he was diving out of a window of his house to evade police who had busted his drug-dealing operation. As a wrestler he was no joke and you did well to beat him and are too modest. I included reference to pruzansky because they developed a very curious, bizarre, and almost gang-like mentality within their "wrestling click". Upon information, many (if not all) of their clique "amped up" on amphetamines before their matches. Very close to their clique was the very weird and corrupt ref spike israel. The very quiffy spike israel had a "little buddy" jim fiore and had recruited David and his little buddy (among others) to Temple University to which he had some connection, and actually attempted to recruit me to same. I didn't take him seriously; firstly, because he told everyone he had been a state champ (bull s**t); secondly, because he had screwed me in a high school match wherein I had pinned leonard pruzanzky in the first period (I had him on his back almost the entire first period and israel gave me no back points, 2 or 3 for near fall, let alone the pin, and just the takedown and I lost by a point on riding time-leg ride). In an open tournament (I think Stroudsburg?), I was looking at the seedings/pairings/chart and David came up behind me pointed to my entry and said to the guy he was with that I had beaten his brother leonard. Roger required our team during one Christmas break to compete in my first and only free-style tournament. I was up two weight classes and David won quite handily. That was the third time I had beaten Ron and frankly, I did grind him into the mat and kick his ass for the late balance of the first period and the remainder of the match.

 

The following is a reply on facebook to someone who said I beat him in wrestle-off and

completes my wrestling story.

Good luck to you in all your endeavors.

Regards,

Al Peia

Howard:

Thank you for your gracious and overly humble comment. Over time, such things become less and less important and I can't say that I actually recall that, per se. As we both know, wrestling was never a pleasant undertaking and although I respect(ed) the sport, I made it a point never to set foot on a mat off season. You may also find it somewhat ironic that I actually had made the basketball team (Hubie Brown for whom I had high regard was varsity coach and Richie Szura the J.V. coach), which sport I enjoyed; and in a meeting arranged by Dan Deluca (I had won a tournament in junior high and the match against the rival Thomas Jefferson Junior High) with Coach Szura wherein Szura nicely but candidly told me that although I had made the team, "that I wasn't the tallest of angels" (which I thought was very funny and we all laughed) and essentially I'd be warming the bench while Deluca guaranteed me a varsity letter for wrestling the easy matches since varsity wrestler Richard Zocco was having difficulty making weight (he never made weight). As trite and cliched as it sounds, it was the varsity letter guarantee that sealed the deal (and in my mind, the prospective "help with the babes therefrom" - actually, it was only the pretty sophomores with whom it ultimately paid dividends so to speak - how very high school). I had a great Coach in Roger Saunders who recruited me to NYU (Roger and his brother Richard, a CIA agent/mechanic, were both national champions). Wrestling has always been an important learning experience for me. Such a kind and humble remark as yours deserved a greater explanation.

Al
                                                                                             ______

From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Monday, November 23, 2009, 5:30 AM

Truly, thanks for all your info.  Interesting that you should mention Spike Israel.  I am assuming that the word "quiffy" is code for "gay".  Spike was coach at Tenafly High when I was in high school, and was known to "like boys".  Apparently he taught the Tenafly guys only one move, the Granby roll, which they were all quite good at, but very little else.  Besides Ron in the early '70's and Steve and Dave Yale in the later '70's Tenafly basically had no decent wrestlers during that period.  Not really sure if this was a coaching issue or recruiting issue.  Our high school (DMHS in Englewood) had former state champ Bob Hurley (Bergenfield) as our assistant coach and former state runner up Reggie Williams (Hackensack) as head coach, and we also fielded very few good wrestlers during those years.
 
Ethan


--- On Thu, 11/19/09, ethan lichtblau <[email protected]> wrote:


From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Thursday, November 19, 2009, 2:07 PM

I really appreciate your insights about this.  I never got a chance to speak to Ron about his own college wrestling days.  I only knew him when I was in  high school, where he was coaching a bunch of local high school wrestlers on a part time basis.  He was also helping out at his alma mater
(?FDU) assisting a guy he used to refer to as "Metz" or "Metzy".  By then he was a fairly un-assuming guy and never even told me that he had taken a 2nd at the Mets when he was in college.  By the time I went off to NYU Ron had left town to go to chiropractic school, and I don't think we ever saw each other again.
 
I now remember what struck me so much about that article that was posted at NYU.  It was accompanied by a picture of three guys on the podium.  You were holding Ron up and he was crying.  It's really a classic picture, even more so because unless you know the "back" story you can only imagine what is going on in the wrestler's heads at the moment the shot was taken. I saw this picture once about 25 years ago and it still sticks in my head.  I was wondering if you could clarify:  I am assuming your coach was named Saunders.  He wasn't the one who spoke of gassing out.  Like I said above, I thought Ron was coached at FDU by a guy he used to refer to as "Metz".  It was either Ron's coach (whoever he might have been) or perhaps Ron himself that stated in the article that Ron had "gassed out".  I also remember now that there was some suggestion that he had come down with a flu, which might explain his reaching a state of exhaustion by the end of the match.  Or perhaps you just kicked his ass in in the last 2 periods.
 
Speaking of Stu Pruzanski,  I never met him , but I knew his brother Dave a bit.  Dave owned a gym in the early '80's and our Judo club used to work out there for a while.  This was another guy who never really told you much about himself.  I only found out years later that he once wrestled Gable to a tie.  He was also the only guy to ever win US National championships in Judo, wrestling, and Sombo, all in the same year.  (?1972).  Years later, maybe 1985 or so, he decided to make a comeback in Judo.  He cut a shit load of weight and ended up fighting me in the finals of a small regional tournament.  I beat him by decision, but really got no satisfaction out of beating a guy who was so out of shape.  Can't remember if this was before or after one of his kids committed suicide.
 
Ethan

Ethan:

"As a wrestler he was no joke and you did well to beat him and are too modest."
To reiterate: you are far too modest!

 Good luck to you in all your endeavors.

 Regards,

Al Peia

 

Harvey Schwartz
Albie...it's good to see you after all years...how are you?...you look good...what have you been up to for the last 40 years?..jeez can you believe it's been that long...i've been in Colorado since '71...went to U of Colorado, married Debbie Simon from FLHS class of 1970 in 1975...we have 2 daughters, 28 & 30...Deb is a Speech Specialist in the public schools and i'm a disabled photographer trying to rehab my back so i can get back to work...so what's your story?...hope all is well...and welcome to the dark side...

October 2, 2009 at 12:54am

  •  

·          

 

Al Peia Harvey:
Why when I see your name do I think of those wild rides in Ridgewood in search of babes. I guess because we did it so often. Sorry to hear of your injury and hope rehab makes well.
Regards.

Al

October 2, 2009 at 1:34am · Like

 

Al Peia The last 40 years? Boy, you make me feel old. My web site is www.albertpeia.com . Take care!

October 2, 2009 at 1:38am · Like

 

Al Peia Harvey:
By the way, your pictures look terrific!
Al

 

Thanks for the pic. It's a much clearer version than that on Wal's (Gary Wallen) page which I saved and photoshoped a bit. You seem quite adept at such. I had the picture myself but it actually was stolen among others by a southern ...See More

September 30, 2009 at 11:31pm · Like

 

Jeff Laderman That takes me back. I was in Cub Scouts, too. Must have been a different den.

April 27, 2010 at 6:10pm · Like

 

Al Peia Different pack, I would say. Are you the same Jeff who played trumpet Warren Point with Mr. Lucas?

April 28, 2010 at 1:59am · Like

 

Jeff Laderman I'm impressed. You remembered the music teacher's name. Yes, that was me, but I played clarinet for all of one year.

April 29, 2010 at 6:29pm · Like

 

Al Peia

Jeffrey:

Sorry for the lapse in memory;quite embarrassing for me. I thought on it more and realized that it was Jeffrey Weiss I was thinking of.

Regards,
...See More

April 30, 2010 at 12:56am · Like

 

Al Peia The missing names in the photo are Robert Meyers, Peter Holmes, and Freddy Fredericks.

Long time no see!!

 

October 29, 2009

Al Peia

    • Reply

Whatever it is, it's been a long time. You might contact Wal (Gary Wallen), Eggi (Egils Obsteins), and Stu (Sherman) for your "Miss Madison", 500,000 WANTED!!! WOODSTOCK 1969 - 2009 40th ANNIVERSARY FACEBOOK GROUP . I was working at a swim club and couldn't get off to go with them (to Woodstock).

Regards,

Al

 

October 30, 2009

Elizabeth Allee

    • My mom worked for me. Boy was she sorry..... I spent most of my time with Don Ruffilo, 69. Just saw him down here. It was great
    • Seeing Hendrix at dawn when we were covered with mud was a once in a lifetime......

 

October 30, 2009

Al Peia

    • I remember Don (tell him I said hi).....who talked us into going skiing, which was my first and last time for that (I almost broke my ankle). His girlfriend cried all the way home. - Wal was very disturbed by the unsanitary conditions at Woodstock according to Eggi and Stu.

 

Ellen Silverstein Levitt
Happy Birthday, Albie! Wishing you a great day.

Like · · See Friendship · April 27, 2011 at 6:13am

  •  

·          

Al Peia Hello Ellen:

Thank you for the second year in a row for the birthday wish, and though somewhat remiss in such things as this I'll make sure I don't miss yours. You may recall (just a few years ago) at Steve Marcus' Bar Mitzvah at B'Nai Birth (?) how I walked into the chapel sans yarmilke and shawl and got a few looks. Your Dad interupted his duties to attend to my 'lapse in protocol' and escorted me to a separate room and supplied with same. He seemed amused by it all which I thought was very cool; and, I thought to myself what an nice, intelligent, and balanced man he was.[ In today's environment, such as it is, I would probably have been accused of anti-semitism and taken out back and shot ... just kidding! (such an accusation would have been ridiculous then as now). ]

Regards,

Al

April 27, 2011 at 8:23am · Like

Ellen Silverstein Levitt Hi Al....I can't believe you remembered that incident from Steve's Bar Mitzvah - I didn't. Sounds like my Dad. He continued to be an active participant in whatever temple he belonged to (they moved to Atlanta and then to CA), until dementia took that part of him. He lived until 94 1/2, passsed away in Jan., 2009. The last 2 years were difficult ones, but until then, he was mentally and physically together.

April 27, 2011 at 5:37pm · Like

Ellen Silverstein Levitt Hope you had a great day!

April 27, 2011 at 5:37pm · Like

Al Peia Sorry to hear of your substantial loss.

April 27, 2011 at 6:22pm · Like

Ellen Silverstein Levitt Thanks, but have great memo

April 27, 2011 at 6:32pm · Like

 

 

 

 

October 30, 2009

Elizabeth Allee

    • Being on this site, I forgot how much I missed everyone. Live in FL, you?

 

October 30, 2009

Al Peia

    • I'll be leaving the country soon.

 

November 2, 2009

Elizabeth Allee

    • Where are you going. I am saving to go to Guatemala on a mission trip with my church.

 

November 2, 2009

Al Peia

    • I am not well traveled as yet (carribean, canada, etc., only) and so it will be various, and ultimately Hong Kong owing to China's prospective good fortune as a world leading nation, along with Russia et als.

 

November 4, 2009

Elizabeth Allee

    • I lived in Europe for eight years. I started my German with Herr Garris in Fair Lawn.
    • Got pneumonia in Canterbury Catherdral. LOL

 

November 4, 2009

Al Peia

    • I always liked Herr Garris though never took German. He was quite an athlete (gymnast) in his day and he returned the hate (to bichler) that the very prejudiced hebrew bichler (bichler failed Jeff Mosenine because Jeff was half Arab) had for him.
    • I always liked Herr Garris though never took German. He was quite an athlete (gymnast) in his day and he returned the hate (to bichler) that the very prejudiced hebrew bichler (bichler failed Jeff Mosenine because Jeff was half Arab) had for him.

 

November 6, 2009

Elizabeth Allee

    • I took German after I left school in Germany for eight years. He gave me a great foundation. I did not know he was a gymnast! You would know that being an athlete. Do you still doing anything athletic, like run or..... You don's seem like you were ever a couch potato kind of guy. So did you take Russian to ready yourself for your trip?

 

November 6, 2009

Elizabeth Allee

    • Did you go to the reunion in 2003?

 

November 7, 2009

Al Peia

I hope we're referring to the same German teacher that taught at Fair Lawn High, in the classroom across from my social studies class with that prejudiced zionist hebrew bichler (My yearbooks were among the items stolen in jersey). He was husky, bald and had congratulated me subsequent to my upsetting defending Regional Champion harvey gold in the District Tournament Finals. He took out some of his competition photos including high-bar gymnastics which sport always amazed me inasmuch that was an inherited trait of ancient primates that never manifested in me, nor did I even think of trying. He also praised the sport of wrestling because you
use every muscle in your body, which is true. I like Russia (and what's not to like about Russian girls), but not when they were the Soviet Union and I was very happy when Latvia got it's independence which made me think of Eggi, and particularly Eggi's dad who was extremely intelligent, cultured, and talented. Wal took Russian, I took French; but I have no facility with languages (including computer programming languages) other than what I initially learned and some code (html, etc.). I think I should invest in one of those electronic translators. I work out at LATTC's gym/workout center. It is unlikely that I will ever set foot in the state of jersey again since I have more well connected (mob, etc.) enemies there than I care to think of.

Elizabeth, Elizabeth, Elizabeth ... That about does it from me to you prospectively since I'm "developing a case of carpal tunnel syndrome from all this typing".

Regards and Good Luck!

Al Peia

 

November 9, 2009

Elizabeth Allee

    • Albie, I thought there was only one German teacher....... I really did not know what an athlete he was. He must have loved our school though. We had the best athletic program!
      I don't know if you remember Lew Detmering or not. I have know him since I was taller than he was. I was three and he was two. He was my neighbor. He told me about a year ago he went to a basketball game in Texas and who was the coach??? Hubie. He started singing in the stands when it got a little quiet. "Our strong bands can nare be broken..........., you know the rest of the alma mater....... Well Hubie turned around and started laughing. Lew's daughters nearly flipped because they thought their Dad was full of it saying he knew Hubie.
      We had some crew in our school. I feel sorry for the kids where I live. I work for the Dept of Juvenile Justice in FL and the kids here have no sense of community or family for that matter. The state has become the parents... Sad.
      Can't believe your yearbooks got stolen. YOU of all people not to have a yearbook with all you were in them!!!
      I didn' ever think I would speak another language, you should give it a try. Before I took German, I had five wasted years of Spanish and all I ever said in any language was Oi Vey!!!

 

November 9, 2009

Al Peia

    • If it was only the yearbooks that were stolen, I'd be a bit happier; but, it was far, far more and hence, my animous towards jersey (but not the class), which is forever. I don't know Lew Detmering by name. I think if you sampled coast-to-coast, you'd have to feel very sad nationwide for such is the state of the nation with few exceptions.

      Elizabeth, Elizabeth, Elizabeth ... That about does it from me to you prospectively since I'm "developing a case of carpal tunnel syndrome from all this typing".

      Regards and Good Luck!

      Al Peia

 

November 11, 2009

Elizabeth Allee

    • I am so excited!!! Just found out a local restaurant owner that I met is going to help me feed my people that are in need here. We had a staff meeting at the restaurant, he introduced me. He is going to give me Mondays at around 4:OO and he said I could feed as many as 100 people. I think that is a little too grand for the staff but I am so happy to be part of this.
      Sorry you feel about NJ like you do. I got royally ripped off here. Long story. Went to Gibbs beside college so I type real fast. Have sympathy for the carpal tunnel syndrome. Life is very hard for some people here.

 

November 11, 2009

Al Peia

    • In this last message reply to you, I relate the following:

      I was in Washington, D.C., at the law firm of reknown lawyer Edward Bennett Williams (even ego-maniac F. Lee Bailey conceded Williams talent?greatness, though Williams was more than just a lawyer, when lawyers were lawyers and not liars as today) on behalf of a client (Williams' firm represented the publisher - not The Washington Post for which I have high regard concerning their respect for the first amendment- and I was there concerning the contractually retained right of review and effectively, revision). It was there that I experienced the most astounding legal experience to date; viz., a word processor/typist who was able to type (not
      short hand/stenography) at speeds exceeding what you could read off a written page or even think for that matter, and with complete accuracy. I am amazed by anyone who types nearly as fast, which talent eludes me compounded by my antipathy for same despite having to do same quite a bit. It's not that I'm without manual dexterity (with a year's worth of lessons I could play the piano, albeit somewhat perfunctorily - my piano was among the items stolen in jersey). In sum, I hate typing and hence, I am not into this, so please do not take it personally as my prospective replies to your messages to me will be euphemistically if not accurately as follows:

      Elizabeth, Elizabeth, Elizabeth ... My fingers are aching. That about does it from me to you prospectively since I'm "developing a case of carpal tunnel syndrome from all this typing".

      Regards and Good Luck!

      Al Peia www.albertpeia.com

 

November 13, 2009

Elizabeth Allee

    • Albie, did you know my step brother was Asst Atty General with William French Smith during the Reagan years. My sister in law was Director of Media Relations. What were you doing in Washington?

      I too had my piano stolen. In Florida. It was a very nice grand piano. It could play itself if need be. I guess we will not be corresponding unless you get the voice activated program for typing so you do not get carpal tunnel syndrome.

      You may google them. Her name is Merrie Spaeth Lezar. His name was Harold (Tex) Joseph Lezar, Jr. I have been orphaned here

      Regards and Good Luck to you too!!

      Liz

  •  

William Bauman

Hey Billy: It has been a long time! You and your family look great! I always liked your dad whom I considered my friend and thought highly of him. The following summary explains what happened and I'm

 

  •  

August 4, 2010

Nathanael Young

I've had many bad experiences with hotmail, messenger / outlook express, microsoft products generally (they do gov't shilling, etc., to preserve their monopoly and their record of non-performance). Ar

 

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May 25, 2010

Ira MillerFriends with Neal Remz and 4 others

Hi Ira: ' Been a long time. Glad to hear you're going to be seeing Wal in Florida. Regards, Al

 

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March 11, 2010

Felix Baldenbach

Felix: Do not take this personally, but as I've previously said to long-time friends on facebook, ".....I don't and haven't been to facebook for quite some time - I'm not into the typing.....". My web

 

  •  

March 7, 2010

Doug Thiel

Doug: Thank you for your message; the website was initially intended for the purpose of exposing in the context of the RICO Litigation and cover-up that which I never would have thought possible in t

 

  •  

March 1, 2010

Gary Wallen

family photos

 

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January 25, 2010

Howard Lipstein

Hello Howard: Rather than ponder your message, being a "glass half full kind of guy", I thank you for the compliment. Regards, Al Peia

 

  •  

November 13, 2009

Elizabeth Allee

Albie, did you know my step brother was Asst Atty General with William French Smith during the Reagan years. My sister in law was Director of Media Relations. What were you doing in Washington? I to

 

  •  

October 2, 2009

Robert D. Cubby

AL: That's me. I'm well and I hope the same for you. Looking at that photo posted brought back a flood of memories of familiar names and faces. 50 years ago! WOW, that's a lot of history. Be well, it'

 

Al Peia

Hi Bob:
You were about two streets up (Romana Dr.?), approximately 5th house on the right, across from Joey Lagala
s house.
Hope everythings well with you.
Regards,
Robert D. Cubby
Albie: Happy birthday. Wow that confirmation picture brought back memories. Thanks for sharing.

Like · · See Friendship · April 27, 2011 at 11:54am

  •  
  •  

Al Peia

Bob:

Thank you for the second year in a row for the birthday wish, and though somewhat remiss in such things as this I'll make sure I don't miss yours. Sorry to hear of your medical difficulties and my best wishes for speedy recovery. As for your jersey government complaints, I've found mob-infested jersey to be totally hopeless [ You might find this link interesting re: same http://www.albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf (I'm waiting
on the FBI whose position will determine mine) - plus, as pertains to the political scenario including the mob, sean hannity lives in jersey, so what can you expect. ] .I include the following which in the process of updating / completing my skills / knowledge base were part of exercises therein (also on my website):

I support the police 100% for good reason and previously wrote: CITY ON EDGE: Cash-Strapped

Newark, new jersey Forced To Lay Off 14% Of Police Force... [ From decades old (1978-1985)

direct personal experience with newark, n.j., the police are the absolute last cuts that can be afforded to be made. Indeed, while walking through Military Park (a sliver of a “park” - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DA’s position with both felonies ( he went to prison – pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of ‘bystander effect’ / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp (a police officer here in California was the object of intense criticism for having used a flashlight to subdue a criminal after a long chase so I included that here) . The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal went to jail. The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so). (Other newark / new jersey and new york, n.y. metro, viz., ie., connecticut, and of course, d.c., d.c. metro, viz., ie., virginia experience … corrupt federal judges as maryanne trump barry, sam alito, shiff, matz (california), hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken (AP) Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf

Regards,

Al

April 27, 2011 at 6:13pm · Like

·         Al Peia

 

 

 

Dow crosses 13,000, a first since ’08 Dow passed 13,000 about two hours into the trading day, then quickly dropped back. (Washington Post) [ All I can say is, take this opportunity (as indeed it was in 2008 if you had) to sell, take profits because ‘as the night follows the day’, there’s much worse to come. The Ponzi / Weimar comparisons have been particularly noted on zerohedge.com who are always on the cutting edge of financial developments in real terms and time; and, they don’t hedge about reality (posted under the name Durden) http://albertpeia.com/todaysummarybuslinks22112.htm  http://www.albertpeia.com/todayspage.htm 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  ]

 

 

Santorum cries Nazi Outrageous comparisons are alarmingly routine for the former senator. (Washington Post) [ That santorum’s a lightweight as I’ve previously characterized him, there’s no question. His religious overtones while talking neo-con militant is one of those ‘throwbacks’ to the administration of a noted war criminal (bush) whose ‘conversations with God’ (NOT! At best a soliloquy; you know, talking to himself. After all, one could imagine GOD all but shrieking in horror at bush’s murderous assault on the English language http://albertpeia.com/bushisms.htm ) . But, while on the topic of nazism, let us not overlook how naziish america’s become: 25 Signs That America Is Rapidly Becoming More Like Nazi Germany    The American Dream    http://albertpeia.com/25signsamericabecominglikenazigermany.htm February 18, 2012

 



 

After bailout, Greece and Europe must grow (Washington Post) [ Yes, indeed! The editorial board, by george, I think they’ve got it. Wow! Eureka! Reaching out to Harry Potter et als, a few magic wands, a few magic words, abracadabra, hocus potus, and voila; they’re growing again (NOT-the reality is that quite the contrary will be true, and here as well, particularly when you discount the inflated effect of over-printed debased fiat currencies globally and dollars particularly, that dern ‘perception versus reality thing’). Unfortunately, depressions, however obfuscated, are not known for their ‘economic growth’. http://albertpeia.com/22signsglobalrecessiondepression.htm  ,   America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion   (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   http://albertpeia.com/34shockingfactsaboutusdebt.htm   ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…)

 

 

The test of talking to Iran The West can’t let negotiations be an excuse for Tehran to buy time.(Washington Post) [ Oh, yeah! It might even be sufficient time for Iran to steal american nuclear technology as did israel en route to and completion of israel’s illegal nuke program … shhhhh … we don’t want to offend the tender sensibilities of the israelis and the jewish voting block / aipac. After all, this is an election year. Forget reality! Let’s talk election year politics.

Gen. Dempsey: Iran rational actor, not after nukes

Press TV | General described any Israeli attack on Iran as “destabilizing.”

Thai Muslim Leader: Mossad’s MEK Responsible for Diplomat Attack

Kurt Nimmo | Accusation completely ignored by establishment media.

Buchanan: What Happens in Iran and Syria is None of Our Business

Kurt Nimmo | It was Patrick Buchanan’s common sense views on U.S. foreign policy that got him fired.

Even Defense Contractors Support Ron Paul For President

Steve Watson | Paul wants to freeze defense spending but has most support from those in the industry

Election 2012: Just One More Crafted Illusion?

Rick Ackerman | The elitist, crusading cowards in the media execute their marching orders with gusto.

 

Super-PAC donors act as GOP kingmakers  A rarefied group of millionaires and billionaires is acting as kingmakers in the Republican presidential contest, often helping to decide, with a simple transfer of money, which candidate might survive another day in race. (Washington Post) [ Let’s not limit this ‘oligarchy in action’ scenario to the republicans. After all, it took some scrutiny from across the sea to ferret out early on a similar scenario regarding ‘the man of the people’, ‘the man of change’ (NOT on both counts) wobama the b for b***s***; viz., David Icke,  Barack Obama: The Naked Emperor Shocking but true revelations from David Icke|  infra ‘...Obama is just more of the same, a big smile with strings attached, and controlled completely by those that chose him, trained him, sold him and provided his record funding, kept his many skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to be with your Presidential camp, who is alleged to claim that someone claiming to represent me called asking for $100,000, to keep me from coming forward about our (Obama and I) November 1999 encounter of sex and cocaine use?), ... Obama is just another Banksters' moll prostituting himself .., and that's why he supported the grotesque bail-out of the banking system and why he will always put their interests before the people. His financial advisors are straight from the Wall Street 'A' list, including Paul Adolph Volker (Trilateral Commission, Council on Foreign Relations, Bilderberg Group), the head of the Federal Reserve from 1979 to 1987 and Illuminati to his fingertips. Obama has made him head of the Economic Recovery Advisory Board, which is dominated by insiders, including its staff director and chief economist, Austan Goolsbee, a close Obama associate from the University of Chicago. Goolsbee is an initiate of the infamous Illuminati Skull and Bones Society at Yale University, which also includes Boy and Father Bush. It was Goolsbee who told the Canadian government not to worry about Obama's attacks on the economic effects of free trade agreements because his words were just to win votes in the election campaign. Another Wall Street insider, the Zionist Timothy Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign Relations), was appointed by Obama to be his Treasury Secretary. Geithner was the President of the New York Federal Reserve Bank, the most powerful in the private Federal Reserve cartel that masquerades as America's central bank, and he is a former employee of both the Council on Foreign Relations and the appalling Kissinger Associates. Obama's Treasury team locks into the inner circle around the Zionist Robert Rubin, the Director and Senior Counselor of Citigroup, co-chairman of the Council on Foreign Relations, and economic advisor to Obama. Rubin, a member of the Illuminati Bilderberg Group, was the man behind Citigroup's strategy of expanding its risk in debt markets which forced it to be rescued by taxpayers' money. The very people who caused the financial crisis are being appointed by Obama to decide how to respond to it (more taxpayers' money for them and their friends)’ 

http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 

 

 

In Obama’s export push, clash of U.S. interests That collision has been evident in the U.S. airline industry, where policies that aided Boeing forced another American company, Delta, to lose business. Experts say the approach by Obama, who is visiting a Boeing plant today, forces him to pick winners and losers. ‘Service sector cannot and should not lead our economy’ (Washington Post) [ Ramping up the rhetoric; or rather, the b***s***, which is what wobama does best though his actions and inactions since last campaign mode belie his words. First, there isn’t enough real capital in the world to sustain america’s debt burden, and, the over-printed fiat paper weimar dollar currency will be ‘paid for’ by ‘all’. Second, even assuming, arguendo, the absence of the foregoing insurmountable burden / obstacle, there simply is not enough capital in the world to retransition what’s been decades in the making overseas with modern plants and equipment there, now here, much less being profitable to do so. Too little, too late for wobama the b for b***s*** whose actions have consistently belied his words, and who has literally further insurmountably bankrupted the nation with excessively costly and uneconomic window-dressed numbers. For example, taxpayers should get a share of the GM profits since they’re paying for them, ie., { to pad stats - Drudgereport: Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...  }  and those unaffordably costly cars { to pad sales - Drudgereport (on Government Motors): REPORT: Chevy Volt Costing Taxpayers Up to $250K Per Vehicle...  CAVUTO: Volt sales inflated with taxpayer fleet buys...  }  Is the unemployment rate misleading? WONKBLOG | Some point out that it doesn’t count those who’ve given up looking for work. (Washington Post) [ Duh! Ya think? I don’t even buy their raw numbers; and, even if, arguendo, their raw numbers real, they are election year expedient at best for ‘reporting purposes’ and uneconomic, overcostly, and very, very temporary http://albertpeia.com/governmentfraudulentemploymentstats.htm  . White House was warned about Solyndra layoffs E-mails show Energy Dept. asked firm in October 2010 to delay news of layoffs until after midterm vote. (Washington Post) [ Those unaffordably costly jobs and those unaffordably costly military industrial complex welfare programs .  The ‘so-called improvement’? At what cost for election appearances only?  ***? Milbank: Obama’s budget games He avoided anything resembling a serious proposal. (Washington Post) [ I’m totally astounded! I really am! I even checked / refreshed to see if this was a print / display error! Praise the Lord! It’s true! Criticism of his much-loved wobama! Even pinched myself to see if I was dreaming.  Who woulda think it? Tough love? I’d say we’ll happily take any criticism of wobama by Mr. Milbank as welcomed and nothing short of a monumental breakthrough, whatever the reason. But indeed Mr. Milbank’s quite right and the context is surely typical wobama election-year b***s***! 

 

Obama looks to tame U.S. debt Spending plan would pump nearly $500 billion into new construction projects over the next decade. (Washington Post) [ Tame u.s. debt … Yes indeed, by more record level spending … Sounds like a plan! Well, you know the drill; it’s an election year and it takes money ( that’s not really there, and no, not to make money ) to if not get elected, to enable an argument that, though contraindicated, you should be elected. I think we’ve passed the ‘fool me twice, shame on me’ threshold.  Obama Revises CBO Deficit Forecast, Predicts 110% Debt-To-GDP By End Of 2013, Worse Deficit In 2012 Than 2011Ben Bernanke FTMFW Quote Of The DayAnd the winner is... BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT … Here are some other pearls of ‘is dumb’ from helicopter ben b.s. shalom bernanke : http://albertpeia.com/30bunglebenbernankequotes.htm  ,  How much has Obama added to debt? OPINION | The amount he’s actually responsible for adding to the deficit is difficult to calculate.   (Washington Post) [ Well, when you’re dealing with debased, over-printed fiat currency and insurmountable debt levels, the precise amount of debt added on his watch matters less than the fact that he’s increased america’s debt by an amount in excess of the total amounts of all the nations’ presidents since Eisenhower combined. (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com    http://albertpeia.com/34shockingfactsaboutusdebt.htm   ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…).

 

 

 

 

Wonkbook: Choose your own (Greek) adventure (Washington Post) [ Kind of like in the fashion of ‘you say tomahto, I say tomayto’, I’d like to choose ‘Illiad’ or ‘Oddyssey’; yet reality calls for the hobson’s choice of Scylla or Charybdis. Yes, indeed, any greek adventure is sure to be a horror show. Clock ticks on Greek bailout talksIn late March, the country faces a mammoth payment that it cannot meet without Europe’s help. (Washington Post) [ ‘The Neverending Story’ (a well done film, particularly for kids)! Yet, there’ll be no luck dragons to the rescue, with so many other dominoes / nations to similarly fall, not to mentioned that the scenario is so dire as to be irretrievable, much like america’s own debt scenario. Even with bailout, Greece faces crushing debtGreece will labor under a mountain of debt many analysts say is unsustainable, even after a bailout that will pump $170 billion into the country over three years. (Washington Post) [ Unsustainable debt …  Sounds like America (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion )  . Greece reeling over deal on cuts Protesters flood the streets of Athens; leader fear new rules will worsen an already harsh recession (Washington Post) [ Death (of a nation) from a thousand cuts! This Is What An Economic Depression Looks Like In The 21stCentury   http://albertpeia.com/21centurydepressiongreecedusup.htm   Greek workers flood streets to protest deep austerity cuts Police and protesters clash after Greek leaders agree to deal in effort to help country avoid bankruptcy. (Washington Post) Check out this mind-numbing piigs reality ‘pictorial’ which doesn’t fall far from american home(y) reality http://albertpeia.com/europeandebtcrisispiigs.htm  . I’m not quite sure what it’s going to be yet, but I’m sure there’ll be another meaning attached to the term, ‘getting greeked’. Greek leaders reach agreement on austerity measures to avoid default European Central Bank president announces breakthrough in efforts to resolve region’s ongoing crisis. (Washington Post) [     ‘The situation is getting more problematic for Greece day by day’Greece’s prime minister seeks rescue consensus amid political quarrels. (Washington Post) [ Indeed things are getting worse and in a manner of speaking now ‘B-B-B-B-Bad B-B-B-B-Bad B-B-B-B-Bad Bad to the bone’ (George Thorogood & the Destroyers’) Drudgereport: 2-7-12 Greece: 'There's no more left to cut'...

 

How Wall Street takes advantage of very confused Ivy League graduates COLUMN | Despite schools efforts to guide graduates into other fields, why do many still choose finance? (Washington Post) [ Confused? I’d say so. Incompetent? At the highest levels, there’s a plethora of samplings to be taken; ie., helicopter ben b.s. shalom bernanke : http://albertpeia.com/30bunglebenbernankequotes.htm  , http://albertpeia.com/whathasthefeddone.htm  , obama http://albertpeia.com/obamadeceptionhighqualityversion.flv  , and the list goes on and on. But it’s not ‘finance’ that’s the culprit, per se. Rather, it’s the ‘go along to get along’ and as well, the resistance to owning up to messing up and being accountable that becomes problematic; and then comes the fraud friendly cover-ups which take on a life of their own. I’d say law is as bad and probably worse inasmuch as by oath, lawyers should know better … but they really don’t, and that’s so at the highest levels http://albertpeia.com/fbimartinezcongallard.htm   . Then, of course, there’s greed, which may motivate to initiate the fraud, but less often is the primary motivation for complicit cover-up. I invite attention to the great non-fiction book ‘Liar’s Poker’ by Michael Lewis from which one generally gleans the precarious mental state ( Train Reading: The Stock Market Is (Criminally) Insane The Wall Street Journal )   of those infamous wall street bunch who’ve literally gotten away with crimes of such magnitude that it is doubtful the nation will ever quite recover from same. Having said that, to be fair, having had the opportunity to complete my MBA Thesis in Finance, 1977 at NYU GBA (evenings – I was just set to begin law school, evenings) with an Ivy Leaguer and expert in the fields of Finance / Economics including beyond academia; among the most eloquent, gifted, intelligent, balanced and impressively civilized people I’ve ever had occasion to come in contact with, viz., the great Dr. Robert A. Kavesh, I’m constrained to say that this one exceptional instance of a man is sufficient to rebut Mr. Klein’s premise and at the least, more Harvard grads should be encouraged to enter the field of Finance / Economics.

 

 

Putin unleashes wave of anti-American sentiment ahead of March elections Can U.S.-Russian relations withstand damage from attacks that have gotten more aggressive? (Washington Post) [ One can hardly expect a great leader of a great nation as Russia (yes, it is President Putin) to roll over and bend over for a pervasively corrupt, defacto bankrupt, meaningfully lawless nation as america surely is. The question always boils down to the ultimate cost of better relations with the u.s.. For indigenous populations and foreign nations that have tested the waters of ‘better relations with america’, the outcomes have been fatal (Iraq, Libya, etc., to name a recent few). I personally am constrained to sound and be accused of being ‘anti-american’ (not really, but by their spin certainly) by standing for my rights in property and constitutionally and resisting the costly corruption by the lawless oligarchs presiding over america’s declining / falling destiny today. The vast majority of americans this day are being irrevocably screwed by the u.s. government which is for the sake of current obfuscation bankrupting all in futurity. The corruption is real in america, at the highest levels of all branches of the u.s. government, and I’ve seen this first hand. Then there’s the illegal wars based on lies, war for the sake of heroin production (Afghanistan), and the list goes on (Panama, etc.). http://albertpeia.com/fbimartinezcongallard.htm   Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

THE OBAMA DECEPTION  http://albertpeia.com/obamadeceptionhighqualityversion.flv ,

 

Vladi­mir Putin: My vision for a better Russia (Washington Post) [ I certainly agree that Putin is a man of vision and a great leader of an historically great nation with a long, rich history. Moreover, as he astutely points out, candidates’ worthless promises have the hollow ring we see epitomized by the jive-talker wobama. As Russia made the transition passing through that oligarchical stage as mentioned, america has devolved into an oligarchy for which there are no meaningfully enforced laws / rules and for which this parasitic, symbiotically venal interaction between elements of all branches of the u.s. government and the oligarchs (ie., wall street, etc.) has been destructive domestically (ie., the national drain of corruption on k street, huge frauds, etc.) and globally (the military industrial complex, wars, etc.). The story of america’s rather brief history, beyond the propaganda, is, in a nutshell, one of ‘taking without asking’, without regard to meaningful law, common decency, or morality. The taking includes lives, property, and most recently, liberty (as manifested in various nefarious, self-created problems for which they provide ‘the solution’; ie., encroachments on speech, etc.).

 

Ter·ror·ist (Noun): Anyone Who Disagrees with the Government : George Washington : 02/08/2012 - 01:03 Any American Who Criticizes the Government May Be Labeled a Terrorist

 

Obamas Signing Statement on NDAA: I have the power to detain Americans but I wont  Infowars | I want to clarify that my Administration will not authorize the indefinite military detention without trial of American citizens. [ Who could possibly be foolish enough to believe even one word from jive-talking wobama the b for b***s***? Hes lied about everything! There is not one thing he hasnt lied about! Hes a pathetically failed president! ]

 

Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens.

Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.

Globalist Campaign Calls for Abolishment of Constitution Kurt Nimmo and Alex Jones | New York Times publishes front page article depicting Constitution as archaic and outdated.


Feds Label Bulk Buying of Food a Potential Terrorist Activity Paul Joseph Watson | Despite the fact that FEMA itself spent $1 billion dollars on storable food last year alone.

 

SYRIA: CIA-MI6 Intel Ops and Sabotage Felicity Arbuthnot | American and British intel agencies are in Syria executing a plan of destabilization
 

Pakistan Warns West Over Drone Killings of Innocent Civilians The Sun | Pakistan warned Britain to help stop the American “Drone Wars” that are slaughtering hundreds of its innocent civilians.

 

Iran: A Manufactured Threat Stephen Lendman | US media engineers recycle old messages – to pull the American mind-set towards a new war

 

 

 

 

The U.S.-Israel trust gap on Iran (Washington Post) [ ‘…We continue to believe that military action against Iran, by Israel or the United States, is not yet necessary or wise. U.S. and Israeli officials share an assessment that, though Iran is building up nuclear capability, it has not taken decisive steps toward building a bomb. In the meantime, the pressures on its leadership — from sanctions, sabotage, the disarray of allies such as Syria and domestic discontent — are growing. The best strategy for now is to fan those flames, which could cause the regime to retreat or even to fall. On that, we agree with the Obama administration…’. Wow! It surely is the drinking water in dc! ‘fan those flames’ says the editorial board; acts of war of themselves and prelude to the false flag op based upon israeli interest and their usual paranoia by projection of their own misdeeds, ill will, greed and malevolence in the region, including possession of illegal nukes and throwing their weight around in the region as if they do. The editorial board once again disappoints with a ‘not quite’ assessment of the realities regarding israel’s militant, intransigent presence in the region while looking askance with blinders at the real provocateurs in the region; viz., israel, america, and to a lesser extent to all their detriment, the west generally. 

 

 

Pretext For War: String of Global Bombings Blamed on Iran

Tony Cartalucci | Already, the corporate-media and certified warmongers alike are pinning the recent bombings in Bangkok, Thailand on bungling Iranian terrorists.

 

 

Navy Seals Say False Flag to be Blamed on Iran May Happen at Anytime: Ed Asner

Kurt Nimmo | Navy Seals told Asner a military action against Iran is forthcoming and will be preceded by a false flag attack.

 

 

 

 

Report: Mossad bolsters activity in Tunisia

YNet News | Israeli intelligence agency collaborating with CIA to revive spy network after revolution, Tunisian journal reports.


 

Drastic Outcome: West ‘could fire first shots of WW3′ in Syria

RT | Russia says it will study an Arab League proposal for a joint Arab-UN peacekeeping mission in Syria.

Israel Blames Iran for Convenient Bombing

Tony Cartalucci | No deaths, just long sought after provocations; a geopolitical gambit executed with the proficiency of Mossad.


 

Is Western Democracy Real or a Facade?

Paul Craig Roberts | The United States government and its NATO puppets have been killing Muslim men, women and children for a decade in the name of bringing them democracy.

 

 

Milbank: With Hispanics, a GOP death wish (Washington Post) [ Wow! GOP death wish? A bit melodramatic on the part of Mr. Milbank. Coupled with yesterday’s long overdue criticism of wobama, one has to wonder whether it’s the dc drinking water that’s the culprit. Then again, could this be a rhetorical way of criticizing the GOP in favor of the Dems or a legitimate heads up so as to preclude the GOP from shooting themselves in the foot. I know not nor care not; the context is the key. Indeed, federal judiciary? Like most things american, the federal courts are rife with corruption. Since when should politics trump (includes corrupt judge maryanne trump barry, and shiff, matz, etc. ) judicial integrity and experience? Answer: since america beyond the propaganda is what inherently criminal, pervasively corrupt defacto is what america truly is and has been. Examples of federal judicial corruption already include the likes of sam alito among others, who though incompetent and corrupt and unequivocally deserving of jail time, sits now on the u.s. supreme court (  http://albertpeia.com/fbimartinezcongallard.htm  , and infra).

 

 

 

Worlds largest banks may face downgrade Moodys says it may lower the ratings of some of the worlds largest banks, including Citigroup, Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley, on profitability concerns. (Washington Post) [ Profitability concerns? As the s*** hits the fan, and it will, there will again be solvency concerns!  Moody's may downgrade 17 banks, securities firms , , Li(e)borgate Set To Become "Next Big Litigation Thing" As Lawsuits Against Libor Banks AvalancheLast week we discussed the gradual unraveling of a topic we had been following for the past 3 years, namely the brazen and criminal manipulation in the Libor market, which directly and indirectly impacts a stunning $350 trillion worth of securities (and thus, their implied risk, and hence, prices). Today we are delighted to learn that the retribution against these banks who have been artificially representing to the market that they are in better condition than in reality (courtesy of Libor's "strict" self-reporting approach), are beginning to see lawsuits filed against them, with Schwab merely the latest out of the gate. And just as fraudclosure was the litigation topic of 2010 and 2011, sit down and watch as Li(E)borgate explodes into the biggest litigation pain for banks, with litigation expenses that could easily surpass both the robosigning scandal (and its robo-settlement) and the escalating banks Reps and Warranties scandal. Because as recent evidence confirms, there are likely emails proving manipulation exists black on white, as discussed last week. Which means that the case of Schwab, noted last summer by Reuters, is about to become a pandemic. , Complete Jeff Gundlach "Fall Of The [BLANK] Empire" SlideshowYour listened the call, now enjoy the Gundlach slides in the leisure of your own unrehypothecated concrete bunker, 50 feet below sea level   A Warning Sign For The World  http://albertpeia.com/warningsignfortheworld.htm Any financial system that is based on debt is doomed to fail.  Today, we are living in the greatest debt bubble that the world has ever seen … ,  Despite Two Thirds Of Components Declining, Empire Fed Prints At Highest Since June 2010  ZeroHedge | Chalk this one to “seasonal adjustments” or something, cause we no longer have any clue what is going on with the data fudging in America.

 

Lawmakers reach deal on $150B economic plan Negotiators sign off early this morning on plan that includes a 10-month extension of a payroll tax holiday that lets the average worker keep an extra $1,000 a year. A vote could come as early as Friday.  Its morning in America (Washington Post) [ It is mourning in america, spelled m_o_u_r_n_i_n_g in america, just as there’s mourning in greece et als with the inevitability in america slightly behind the curve. Not because of this; I’m truly glad for those in receipt of the money that’s not really there. After all, between the unprosecuted frauds corruption in the trillions coming from what’s not really there, why not? Actually, it’s owing to what’s previously been done and not done which adds a certitude to the unfolding disaster of the pols et als’ making. Yes, bad times are indeed coming to america; and, that is the only thing you can and should be taking to the bank. Biderman Beyond Baffled by B.O.'s BudgetIn his best Lewis Black impression, TrimTabs CEO Charles Biderman succinctly destroys the 'growth' myth behind Obama's budget plan as nothing but a handout and money-printing exercise in futility and drain-circling. Based on the $3.8tn budget plan, the TrimTabs truth-seeker notes that current government tax revenues are about $2.4tn, and growing at no more than $100bn each year, making the math surprisingly simple - we spend around $300bn per month and receive only $200bn with the missing $100bn to pay for the US government's largesse (income shortfall) coming from - 'printing money'. The spin is, of course, that revenues will somehow magically start to grow faster than spending and shrink the budget deficit. ,  A Warning Sign For The World  http://albertpeia.com/warningsignfortheworld.htm Any financial system that is based on debt is doomed to fail.  Today, we are living in the greatest debt bubble that the world has ever seen …,  (  Americas debt woe is worse than Greeces News (CNN) Our government is utterly brokeThe governments total indebtedness is $211 trillion )  ,  Many Of You Will Not Believe Some Of The Things Americans Are Doing Just To Survive http://albertpeia.com/survivinginamerica.htm

 

 

 

Tax holiday’s end sets up harder hit in 2013With Congress voting to extend payroll tax holiday, 160 million workers will be spared immediate hike. But move leaves them facing bigger hit in January, when holiday ends and tax joins long list of levies set to go up. ‘Now would be the perfect time to clean up the tax code’ (Washington Post) [ Harder hit indeed; and, much more than could possibly be imagined! I quite agree that now would be the perfect time to ‘clean up’ the tax code, as I’ve recently stated  (rationale for not doing so previously, once upon a time, being ‘if it ain’t broke, don’t fix it’, ‘don’t argue with success’, ‘leave well enough alone’; none of which adages are apposite now – america’s broke, needs fixin’, is no longer successful, and is not at all well). 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  ]

 

 

 

The growing deficit? It’s not as bad as it looks. Modern Monetary Theory, which asserts that budget shortfalls are actually good for the economy, is gaining popularity. If accepted by policymakers, this unorthodox take on financial strategy could affect everything from job creation to the price of goods to the tax code. (Washington Post) [ Not as bad as it looks? Yeah! It’s worse! When I saw this headline juxtaposed with Dylan, immediately apropos to the moment was ‘Blowin’ (in the) Wind’ by Bob Dylan. How totally preposterous; not that it is totally unexpected that such spin, defense of the indefensible is inevitible inasmuch as, prudent or not, like it or not, that’s the way it is in a very big way. So big in fact, that it is literally insurmountable leading to Weimar over-printing of fiat paper currency of unprecedented historical proportion which has already required ‘cover stories’/obfuscation for the consequent ratcheting of food / energy prices, etc., with other costs soon to catch up with incomes statements as these higher prices will not be favorably received nor successfully passed on.

 

 

 

 

Eisenhower Memorial misses the man (Washington Post) [ Great to see Mr. Will back to form. Indeed it is true, needed to be said out loud, and Mr. Will has said it. President General Eisenhower was a great man, a great president, and certainly the most underrated on both scores. A man of deeds, action and not just words (not a b***s*** artist), he invariably had the courage to do what history has invariably proven right; and, had the rare courage to warn in futurity of the dangers inherent to the military industrial complex which have plagued this nation since. While it is true that no memorial can mark the measure of this great man of modern times, it is also true they must try harder. After all, without a doubt, they surely have ‘nothing better to do’. 

25 Signs That America Is Rapidly Becoming More Like Nazi Germany
The American Dream http://endoftheamericandream.com/archives/20-signs-that-the-nazification-of-america-is-almost-complete

http://albertpeia.com/25signsamericabecominglikenazigermany.htm February 18, 2012 ‘The United States of America is becoming more like Nazi Germany every single day.  In fact, the Nazification of America is almost complete. 

 

 

Five myths about the presidency (Washington Post) [ Five? Is that all? I can with ease rattle off fifty-five myths relative to those of the last several decades. And, none of them flattering I might add. As for longevity, given their attentive, quality medical care and post office (no pun intended) stress free living, the lengthy aberration is not at all surprising to me. Well here’s a big one not on the list: http://albertpeia.com/obamadeceptionhighqualityversion.flv 

 

 

 

Why Iran wants the bomb (Washington Post) [ Assuming, arguendo, that they do (want the bomb – they deny it –but israel also denied or pretends by silence what everyone knows is so, ain’t so, or none of anyone’s business), they could always say the why is ‘better relations with america’ as has worked for contraindicated american favorite israel (they could also point out that at least they didn’t steal the nuke technology from the u.s. as did israel). The reference to alleged culpability regarding the ‘attempted’ revenge (and the notion of revenge is important and acknowledges what all know is israel culpability regard the assassination of the subject Iranians) killings of israeli dips which have been described by some as false flag attempts to rally  support for invading Iran. I think that say what may, if bellicose, militant israel’s got it, so too should Iran.

War Propaganda Corporate Media Steers World Toward Disaster

Kurt Nimmo | Determined to fan the flames of hysteria and set the stage for a devastating attack on Iran.

FBI Creates Another Terror Patsy

Prisonplanet.com | The supposed terror plot to bomb Washington DC was yet another FBI set up.

 

 

The Hegelian Dialectic: Infowars Nightly News

Prisonplanet.com | Derrin McBreen discusses the Hegelian Dialectic, otherwise known as Problem-Reaction-Solution

US officials believe Iran sanctions will fail, making military action likely

London Guardian | Officials in key parts of the Obama administration are increasingly convinced that sanctions will not deter Tehran.

 

Clock ticks on Greek bailout talksIn late March, the country faces a mammoth payment that it cannot meet without Europe’s help. (Washington Post) [ ‘The Neverending Story’ (a well done film, particularly for kids)! Yet, there’ll be no luck dragons to the rescue, with so many other dominoes / nations to similarly fall, not to mentioned that the scenario is so dire as to be irretrievable, much like america’s own debt scenario. Even with bailout, Greece faces crushing debtGreece will labor under a mountain of debt many analysts say is unsustainable, even after a bailout that will pump $170 billion into the country over three years. (Washington Post) [ Unsustainable debt …  Sounds like America (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion )  . Greece reeling over deal on cuts Protesters flood the streets of Athens; leader fear new rules will worsen an already harsh recession (Washington Post) [ Death (of a nation) from a thousand cuts! This Is What An Economic Depression Looks Like In The 21stCentury   http://albertpeia.com/21centurydepressiongreecedusup.htm   Greek workers flood streets to protest deep austerity cuts Police and protesters clash after Greek leaders agree to deal in effort to help country avoid bankruptcy. (Washington Post) Check out this mind-numbing piigs reality ‘pictorial’ which doesn’t fall far from american home(y) reality http://albertpeia.com/europeandebtcrisispiigs.htm  . I’m not quite sure what it’s going to be yet, but I’m sure there’ll be another meaning attached to the term, ‘getting greeked’. Greek leaders reach agreement on austerity measures to avoid default European Central Bank president announces breakthrough in efforts to resolve region’s ongoing crisis. (Washington Post) [     ‘The situation is getting more problematic for Greece day by day’Greece’s prime minister seeks rescue consensus amid political quarrels. (Washington Post) [ Indeed things are getting worse and in a manner of speaking now ‘B-B-B-B-Bad B-B-B-B-Bad B-B-B-B-Bad Bad to the bone’ (George Thorogood & the Destroyers’) Drudgereport: 2-7-12 Greece: 'There's no more left to cut'... 

 

 

 

 

 

 

 

 

 

 

 

Why insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that ‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts, bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet, their’s is only the province of civil remedies with at best criminal referrals to the DOJ for prosecution; good luck with that (remember all those prosecutions promised last election time by what is now the wobama / holder doj of the still extant high level wall street frauds in the trillions…never happened  - { Obama flush with financial sector cash The president has managed to raise more money this year from the sector than any GOP contender. (WP) ( So much for obama and OWS; but how ‘bout wobama and obs … yes, more ‘obama b*** s*** ! The quid pro quo … the bribe …  Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv ,

 

Insider-trading probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services Committee is being investigated. 'This is a dog and pony show' (Washington Post) [ Yeah! And he’s both the dog and the pony. As for the paulson meeting and denial of ‘inside information’, one can only say for certain, giving bachus the temporary but unlikely benefit of the doubt, that paulson should be in jail for what they did for their buds at goldman et als. And dern it, as a wine man by definition, how else is he going to afford the finest vintages and bacchanalian rituals? Yet, one must agree that they’re already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg   . Well, I guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street ‘greed is good’ in all capital hill / government connected reps.

 

 

THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    Does regulation really kill jobs? (Washington Post) [ Just those corruption-related ones; those organized crime, as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’, bribes, etc., to go around. Energy Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I believe it’s time to start questioning what federal employees get paid for. After all, pervasively corrupt america is defacto bankrupt (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion ) . Moreover, america’s pervasive corruption, even crimes,  has become synonomous with the machinations of any number of federal agencies / departments / all branches of government  (ie., DOJ – holder/fast and furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims , Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission destroyed documents and compromised enforcement case ...   Sen.Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ Report: SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a ‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were murdered by mafia / organized crime [ this was documented with authority in ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] SEC faulted over records shredding The SEC destroyed internal documents that should have been preserved as official federal records, the agency’s inspector general has found. (Washington Post) [ Oh, if it was only that, and only the SEC; and if only they did an incisive investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate   http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html   Paul Joseph Watson | Over two dozen Republicans call for Holder to resign. Though heavily redacted, the documents directly discuss “Operation Fast and Furious” and how it involves “trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        

 

 

 

Ignatius: American history’s greatest flip-flop (Washington Post) [ That’s only if you can be certain of what’s been flipped; and, sifting through the obfuscation and propaganda, what’s really flopped in terms of so-called ‘american history’. 

 

The Gospel according to Obama The president’s contradictory theologies. (Washington Post) [ Oh come on, Mr. Krauthammer! Who’s still counting? Wobama’s total jive-talking b***s***! I mean, count the ways! There’s absolutely no end to his jive! Who’s still buyin’ / believin’? Fools and other ‘tools’?

 

 

 

 

 

 

 

 

 

 

The Posts View The Senate didnt do enough to stop insider trading Editorial Board Theres still too much ambiguity on rules covering lawmakers. (Washington Post) [ So much for nobody being above the law! I quite agree that absolutely no ambiguity; indeed, no ‘wiggle room’ whatsoever should be countenanced in this ‘legislation’. Actually, an outright ban would be a more ‘cut and dry’ approach and desirable. Objections? Don’t run for office if you don’t like the rule. After all, Washington politics has strayed a long way from being a ‘public service sacrifice’ to rather an extravagantly accoutered, very costly to the public, but lucrative end in itself; and worse, regardless of results (the fiefdoms seem to be self-perpetuating). Yet, it still comes down to the meaningfulness of the laws, particularly relative to arbitrary enforcement; and, for those who believe the ‘courts’ will apply those laws as written and intended, I’m constrained to say from direct experience: ‘You don’t get out much!’ http://albertpeia.com/fbimartinezcongallard.htm     http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  

 

The Post’s View Drawdown in Afghanistan Why should troops die this year if U.S. is leaving next year? (Washington Post) [ Indeed! But the larger question is why should they have died in Afghanistan at all? Well, the answer’s simple, even beyond the military industrial complex / war profiteer thing. It’s not a question of the heroes in; but rather, it’s all about the heroin. Yes, heroin! That icky, sticky highly addictive and devestating drug that the most sordid of organized crime ilk here and abroad find so appealing and lucrative. And, it’s ‘high time’ for this very newspaper (among all others and media) to step up and say what everyone with a computer and internet connection with a desire to know already knows; viz., the u.s. government is in the illegal drug business (including heroin, cocaine, etc.) in a very big way. Back when I brought a RICO action involving drug money laundering (see infra) I never in my wildest dreams could have thought that reality to be so, yet indeed it is so.

 

Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia.com/americangovernmentdrugtrafficking.htm     http://albertpeia.com/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

 

 

Israeli leaders: Iran must be stopped soon  One of the bluntest warnings to date of possible airstrikes against Iranian nuclear sites adds to the anxiety in Western capitals that a surprise attack could spark a broader military conflict in the Middle East. 900+ comments: ‘They better be prepared to fight the war on their own’  (Washington Post) [ Much like the illegal, misguided war in Iraq based upon lies amidst the clamoring bloodthirst of zionist neocons and israel alike, the Iraq debacle pleased the aforesaid immensely while costing this nation immeasurably in terms of blood (beyond the dead, over a $trillion yet to come in long-term health costs for injured troops), treasure, and geopolitical standing/credibility. Somewhat fresh off a humiliating shellackin’ at the hands of Hezbollah, the mid-east provocateur israel then constrained to be bully to the captive, down-trodden Palestinians / Gazans has a panoply of reasons for their fears of blowback for their misdeeds, illegal nukes being among them. Yet, their fears / paranoia in no way coincide with the interests of the rest of the world, not that they care one bit, greedy / self-interested as they invariably are. Those murdered scientists? Yeah, karma’s a b**ch when you know you’ve something to look forward to when you know you’ve done something so sinister so as not to want to ‘pay the piper’ therefore! Quite simply, israel’s problems are of their own making, troublesome for the world only to the extent they try to make their problem seem to be and then the world’s problem, and likely will create more problems by their own transgressions than any of those possibly imagined by the paranoid war criminal israelis. US Joint Chiefs Gen. Dempsey draws a line between Israel and US, over Iran LaRouche PAC | Top ranking US General states that US policies on Iran are not in line with US interests  , In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States! ,    Panetta: Israel must negotiate with Palestine (Washington Post) [ Seems we’ve heard that song before. How can anyone, including the israelis, take him seriously when the whole world knows that if he really meant it, the same would be done in a ‘new york minute’. After all, client state israel, ultimately the source of substantially all america’s gargantuan geopolitical (and increasingly economic) problems, really has no real choice but to obey. The great but underrated President General Eisenhower who admonished about the military industrial complex would never sacrifice as now american interests for the sake of israel. Israel wary of transition in Egypt, concerned about regional stability    Republican Jewish Coalition Bars Ron Paul From Debate: ‘He’s misguided and extreme’ Reason | Ron Paul’s comments about Israeli dependence on the US have fallen foul of the AIPAC crowd 

 

 

! [ ‘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

Bernanke cautions on debt cutsThe Fed chief warns lawmakers that they need to focus on economic growth while trying to shave the debt (Washington Post) [ Yes, sir! You don’t want to put him out of the job of being the only fool buying ultimately worthless american paper, infra, ‘2) The US Federal Reserve is now buying 91% of all long-term new US debt issuance (at the same time China and Russia are dumping US bonds)’ Why the Notions of Systemic Failure or “Going to Zero” Are On Par with Bigfoot and Unicorns for Most Investors  http://gainspainscapital.com February 2nd, 2012 ‘I wanted to take a moment to address the notion of serious collapse and/or systemic failure…


The Post’s View Drawdown in Afghanistan Why should troops die this year if U.S. is leaving next year? (Washington Post) [ Indeed! But the larger question is why should they have died in Afghanistan at all? Well, the answer’s simple, even beyond the military industrial complex / war profiteer thing. It’s not a question of the heroes in; but rather, it’s all about the heroin. Yes, heroin! That icky, sticky highly addictive and devestating drug that the most sordid of organized crime ilk here and abroad find so appealing and lucrative. And, it’s ‘high time’ for this very newspaper (among all others and media) to step up and say what everyone with a computer and internet connection with a desire to know already knows; viz., the u.s. government is in the illegal drug business (including heroin, cocaine, etc.) in a very big way. Back when I brought a RICO action involving drug money laundering (see infra) I never in my wildest dreams could have thought that reality to be so, yet indeed it is so.

 

Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia.com/americangovernmentdrugtrafficking.htm     http://albertpeia.com/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”Today in Afghanistan, American troops have been seen guarding poppy fields used to make heroin. Those fields were all but wiped out by 2001 when the Taliban destroyed them and forbade that agricultural pursuit. Now they’re flourishing again after the American occupation.This doesn’t make sense despite all the mainstream reports that American troops are protecting the poppy farmers from the bad guys. Internet sites such as Prison Planet, Info Wars, The Political Coffeehouse and others report otherwise. They connect the CIA and US military to restarting the poppy fields in Afghanistan in 2002, increasing poppy growth by over 650 percent. Who’s telling it like it is?One way the CIA keeps their drug trafficking hidden from public viewThe CIA’s secret operations to influence journalism started in the 1950s by infiltrating the media and bribing journalists to be operatives and assets for the CIA. By 1976, then CIA director William Colby reportedly bragged that the CIA owned the press. Supposedly, this too secret to name operation was coined “Operation Mockingbird” by Deborah Davis in her book Katherine the Great.Operation Mockingbird worked well against prize winning journalist Gary Webb when his newspaper, the San Jose Mercury News, ran his in depth series on CIA drug trafficking that flooded the USA to help finance the CIA backed Nicaraguan Contras during the 1980s.Journalists all over the USA jumped on the series, claiming Webb’s journalism was shoddy. The newspaper had to recant and fire him, and Gary Webb was black listed from mainstream journalism completely.Webb retaliated by having his book Dark Alliance published and making the NY Times best seller list …’     



Romney: It 'makes absolutely no sense' (Washington Post) [ I realize this is an election year; and, certainly since the coup d’etat by way of the assassination of JFK, the military industrial complex / military establishment / pentagon’s prior ‘approval’ for such pronouncements, more than just a perfunctory nod, token heads up. What makes no sense is pervasively corrupt, defacto bankrupt america’s ever increasingly insurmountable debt burden which will take the nation down faster than any purported foreign enemy. Actually, I believe the increased scrutiny has revealed america’s heroin trade there does not come close to justifying the costs (except for ‘those few’).  What made no sense in the broader sense was ‘being there’ in the first place. They’re just no threat to america and yet ‘being there’ a substantial provocation sufficient to make them so. Indeed, that a war mongering, zionist, neocon mental case like john bolton has endorsed Romney is certainly, if taken seriously along with the implications,  a credible foreboding of further bad times for america to come thereby. Wake up! ).   (34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com  http://albertpeia/34shockingfactsaboutusdebt.htm  ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…).  america’s totally broke! Really! No joke! Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”…

 

Sources for this article include:

http://whatreallyhappened.com/RANCHO/POLITICS/MOCK/mockingbird.php

http://en.wikipedia.org/wiki/Forbes_family

http://en.wikipedia.org/wiki/John_Jacob_Astor

http://thepoliticalcoffeehouse.com/2011/12/01/us-military-opium-afghanistan/

http://www.minormusings.com/Drugs/Mask.html

 

 

See also:

Big Banks, Gov’ts Collude in Drug War Hypocrisy

Much Of Afghan Drug Money Going To ‘Our Friends’

Steady Stream of Drug Money Departs Afghanistan, U.S. Officials Flummoxed

Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard

Afghanistan drug trade hits $4 billion a year

Occupiers involved in drug trade: Afghan minister

US and NATO protecting Afghan drug trade

B.C. RCMP seize 60,000 poppy plants in record haul

NATO rejects Russian call for Afghan poppy spraying

War on drugs is a hoax: US admits to guarding, assisting lucrative Afghan opium trade

UN: Afghan opium production up by 61% under NATO’s watch

DOJ: Drug Cartel’s Influence Extends Well Beyond Border Well Into the U.S.

 

 

Proposed bill would target outsourcing Lawmakers introduce bill requiring companies to say how many jobs they send outside the U.S.  (Washington Post) [ Target outsourcing? Inasmuch as these ‘legislators’ along with their crony pseudo capitalists on wall street, etc., have created the environment for this ubiquitous ‘phenomenon’, I’d ordinarily be predisposed to opposing such targeting. Yet, in light of the pervasive corporate welfare more typical than not, I believe the disclosure to be important, if only to allow taxpayers funding the corporate welfare to have input in and potentially avoid a scenario whereby they are in essence paying for / subsidizing said outsourced jobs. If no corporate welfare, then there should be no government intrusion since from a practical business perspective, much like retooling, such realities cannot be ‘favorably built nor torn down in a day.’ http://www.albertpeia.com/50economicnumbersofuscollapse.htm   http://www.albertpeia.com/47signschinadestroyingamericaoneconomicstage.htm    http://www.albertpeia.com/30statsmidclassdying.htm     30 STATISTICS THAT SHOW THAT THE MIDDLE CLASS IS DYING RIGHT IN FRONT OF OUR EYES AS WE ENTER 2012

 

 

A grandstanding plan GOP representatives will reduce the national debt with chump change. (Washington Post) [ Clearly, Mr. Milbank’s Freudian slip is here more evident than his usual unbridled support for wobama the b for b***s***! Chump change? What could be more telling and descript of wobama voters last time around; viz.; ‘chumps who believed in wobama’s talk of change’ (never happened). Contrary to Mr. Milbank’s among others’ ‘egalitarian protestations’, ‘size matters’. Keep your mind out of the gutter, off the low road Mr. Milbank … size of the debt matters; and, decreasing rather increasing the debt as wobama is certainly preferable. Yet, the situation as it presently stands is realistically hopeless either way; and, beyond the point of no return. { 34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com  http://albertpeia/34shockingfactsaboutusdebt.htm  ‘We have all been lied to.  For decades, the leaders of both major political parties have promised us that they can fix our current system and that they can get our national debt under control.  As the 2012 election approaches, they are making all kinds of wild promises once again.  Well you know what?  It is all a giant sham.  The United States has gotten into so much debt that there will be no coming back from this.  The current system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is facing a "fiscal gap" of over 200 trillion dollars in the future.  The following is a brief excerpt from a recent article that he did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion.. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt -- and all projected future taxes…#33 If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars.  That is more than $683,000 per family…}.  america’s totally broke! Really! No joke!

 

AP source: Donald Trump intends to endorse Newt Gingrich's presidential bid Donald Trump intends to endorse Gingrichs GOP presidential bid, according to a source close to... (Washington Post) [ Yes, the unreality reality mobster and new york don (trump) and ‘the newt man’ hear some etherial sounds from beyond from ‘the lizard man’ aka the great Jimmy Morrison of The Doors fame in an instructive refrain:

Touch the newt man don
Be thou not afraid
Though his champagne’s now lemonade
Don’t forget the promise that you made
Though it looks like now you have been played
A deck of jokers now betrayed

To the full moon base as been said
Insanity’s what both you pled
As others’ life blood you have bled
Time for lun_a_tics_ like _you for the harnessed bed…

 

TOUCH ME by THE DOORS
                                                    (Album "The Soft Parade")
 
{ I played this song along the album according to some other versions I was
able to find and it didn't sound well. So, I tried to write my own version
of this song - here is the result … by http://www.rockmagic.net/guitar-tabs/the_doors/touch_me.crd }
 
INTRO:
 
               4 times: Am Am Am G Am Am G Am Bm
               2 times: Am7 Am7 Am7 G7 Am7 Am7 G7 Am7 Bm7
               1 times: Am7 -stop-
 
 
VERSE:
 
               Come on, come on, c'mon, c'mon now
               G
               Touch me babe,
               Bm                 C                   Cm
               Can't you see that I am not afraid.
                             A#                        Dm
               What was that promise that you made?                  
                             D#                        F#
               Why won't you tell me what she said?
                             C#
               What was that promise that she made?
 
 
CHORUS:
 
                   F#        Fm
               Now I'm gonna love you
                        F#     G#        C#
               till the heaven stops the rain.
               F#        Fm
               I'm gonna love  you
                        F#    G#            F#
               till the stars fall from the sky
                           C#
               for you and I.

 

 

 

Yes newt man … sounds like a plan!

Doors L.A. Woman Lyrics

 

 

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.
 

 

The media Newt Why we want him to stay in the race. (Washington Post) [ How ‘bout singular; as in, why Mr. Milbank wants 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 

 

 

 

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 
 
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.

 

 

 

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! }

 

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 don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.

First fake moonwalker blasts Obama's space plan  msnbc.com - 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    ]

Romney, Gingrich clash sharply in debate The former Massachusetts governor attacked the former House speaker as a failed leader, a K Street influence peddler and a candidate who would put the party at risk in the general election. Gingrich’s firm paid $25,000 a month by Freddie, according to contract (Washington Post) [ True enough, sweet mitt; the slimy newt’s just an unscrupulous peddler; and none other than Frank’s ‘rat pack bro’, the Dino is ushered in from beyond by Frank to croon in his smooth as greecey italian way and warn us all:

 

 

The Peddler’s Serenade {recorded 1962 Dean Martin joined Frank Sinatra's Reprise ... "The Peddler's Serenade" (Jimmy Eaton / J.J. Corvo / Paul McGrane}

 

There’s a peddler and former speaker of the house

Was forced to resign ‘cause he’s such a louse

The peddler slimy newt with nothing of substance to sell

Just like wobama will bring the nation down to hell

 

 

(Actual lyrics in pertinent part)

There's a peddler comes to our house

With such wonderful bargains to sell

And he starts our hearts to tingling

Just as soon as he pushed the bell

Fannie, Freddie writedowns too costly: regulator WASHINGTON (Reuters) - The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the two mortgage firms to write down loan principal would require more than $100 billion in fresh taxpayer funds… [ In other words, like the fed, banks, fannie/freddie are carrying  worthless toxic assets ‘marked to anything’. ]

 

 

 

Should I (Reveal) { Recorded by Frank Sinatra  Songwriters: Nacio Herb Brown, Arthur Freed }

 

 

 

Petri: Grandiose Gingrich overruns awful Romney  Rubin: In debate, Gingrich meets his match (Washington Post) [ ‘Same Debate: Two views, the news, two different views’. The gamut … from ‘bull run to ‘bull s***’ they did diverge. Frank’s displeased with this lack of clarity so from beyond he adds his soothing sound … for clarity of course! :

 

"Tea for Two" (recorded 1947 Frank Sinatra / Dinah Shore) (Music/Youmans Lyrics/Caesar)

 

We’re discontented with candidates that are rented

With grand promises that they’ve invented

 

America’s now a place that’s no oasis

Where life’s weary chase is always in crisis

 

Far from the cries of crime victims in the city,

Where flowers pretty caress the streams

 

Sarcozy to hide in, and war monger side-by-side in

Don’t let lobotomy joe bidin your dreams.

 

Slimy newt flat on his high knee, more war plans from Romney,

Chinese tea for two, and two for Chinese tea,

 

Me for who and you show me, al one!

 


{actual song in pertinent part}



 

Erik Wemple : Chris Matthews alleges Gingrichian racial snarkiness (Washington Post) [ Snarky, indeed! He’s so snarky, that slimy newt. Once again snooty newty has raised the ire of Frank from beyond as Frank feels compelled to chime in on behalf of his shadow, also known as sammy, as in sammy davis, jr., who is also a spook; you know a ghost. And no, sammy was not one of the spooks at the cia who are a bunch of spooks, and so indirectly Franks chimin in on the cias behalf as well. Sing it Frank (with your shadow, sammy):

(Actual Song - Duet - Artist: Frank Sinatra & Sammy Davis Jr   Song: Me and My Shadow    Date recorded: 1962)

Me and My Shadow

 

snooty newty and his shadow

Strolling down pennsylvania avenue
snarky newty and his shadow

That’s a dream that won’t come true

snooty newty and his shadow

All alone and feeling black and blue

‘cause snooty newty and his shadow
just got mugged in front of wobama’s temp house too

 

 

ComPost : The stupidest attack on Romney yet  (Washington Post) Mais oui, il est tres stupide, que triton visqueux (But yes, he is very stupid, that slimy newt). I personally took (the mandatory foreign language grade 7-10) French and even brushed up here in LA while contemplating a move to Geneva, Switzerland, Europe, which of course has obviously changed along with EU prospects, the EU having so foolishly gone along to get along with the now fallen american way (I’m really not good with languages, being ‘hard-wired’ with my initial language, ie., my facebook response to query, ‘I took French; but I have no facility with languages (including computer programming languages) other than what I initially learned and some code (html, etc.). I think I should invest in one of those electronic translators.’). Even Frank’s  angrily chiming in with his displeasure with snooty newty from beyond :

I Love Paris  (Writer(s): Cole Porter) (Recorded 1959, 1960 Frank Sinatra)

 

I love Paris in the spring time
No room for newt on the ballot in the fall
I love seeing newt splinter this winter when he fizzles
I love seeing newt the bummer in summer when it sizzles

 

Newty seems dumber,

Really don’t have to wait for summer,
to see that bummer newty fall

 

 

 

 

 

Investors uneasy amid Europe’s crisis (Washington Post) [ Indeed they are (uneasy), and for good reason; that reason being a little thing called reality which has been consistently banned from ‘the discourse’, particularly in america; and particularly in this election cycle. 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  , Suckers’ rally this day based on Fraud, b***s***, and desperation alone, as suckers’ rallies usher in the new year in a most preposterous fashion with lingering intoxication an explanation as the printing presses and issuance of worthless insurmountable debt paper are in full throttle globally (a testament to global blindness as the blind follow the blind) making this impending disaster at this time an especially great opportunity to sell / take profits because there’s much, much worse to come! jersey-lautenberg based adp with 100% better than expectations private sector jobs number? Nobody thinks so (infra)! Scandal scarred commerce department data? Labor dept. ue claims / ue numbers? Only a fool believes what they say! ( After One Month Respite, Pink Slips Are Flying Again, 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

How will President George W. Bush personally make million$, if not billion$ from the War on Terror? The easy way.  He'll inherit it.

Meet the Carlyle Group

Former World Leaders and Washington Insiders Making Billions in the War on Terrorism

Bush       Baker   Carlucci    Darman   Major    Ramos

http://www.angelfire.com/indie/pearly/htmls/bush-carlyle.html   

 

 

Concerns over Europe’s debt returnThe specter of Europe’s debt crisis resurfaces, as bank stocks fell sharply and a French bond auction drew lackluster demand. (Washington Post) [ Duh! Ya think? As with defacto bankrupt america, nothing’s been solved. Dire predicament, forecast, time to ‘get out of Dodge’  http://albertpeia.com/forecastusdebtgetoutofdodge.htm  ,  Look Out Below – The Nightmarish Decline Of The Euro Has Begun  http://theeconomiccollapseblog.com  , Here We Go Again: US $25 Million Away From Debt Ceiling BreachEURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials Zero Hedge

 

Role as political insider in Washington made Rick Santorum a millionaireAfter losing reelection bid in 2006, he capitalized on experience with a profitable career on K Street. (Washington Post) [ As such, the same salvos levied against slimy newt are aposite here and reiterated. Yet, I’m still non-plused by santorum equating same-sex marriage (as a heterosexual myself I can’t say that I’m wild about that idea) with polygamy (truth be told it could be easy for me to picture being wild about that idea). I haven’t yet looked closely at santorum, candidly speaking; and, know him only by his contraindicated and preposterous ‘soundbites’ in defense of nation-bankrupting neo-con geopolitics (wars) and have previously referred to him as a ‘lightweight’ thereby.

 

Confident conservatives  Why 2012 could be a good year, even without defeating Obama.  (Washington Post) [ I’m now convinced that somethin’s not quite right with Mr. Will. First, the headwinds. Now this? Just how does conservatism even exist much less flourish if quite the contra-indicated opposite, viz., failed president wobama, prevails.  Think again Mr. Will. Krauthammer: Are we alone in the universe? (Washington Post) [ Wow! Mr. Krauthammer’s waxing philosophical as we’re about usher in the new year … ooooh … the end of the Mayan calendar … 2012 … deh, deh deh deh, dehhhhh! … the mystery of it all … no, this world will not be ending in 2012 … yes, for all practical purposes ‘we’ are alone in the universe; that is, in terms of the future of the human race … decades at most. (In truth, in drafting this comment I hadn’t read the article, just the headline; such ‘speculations’ being unimportant to me and I would add that Carl Sagan’s et als’ views as stated therein from a psychoanalytic perspective were mere projections, a form of displacement).  Back to more mundane earthy earthly phenomena aka the here and now … the american political process such as it is … the upcoming election year… and the year generally speaking. It’s goin’ to be … euphemistically speaking … a tough one! Financial Troubles For Many Nations In The New Year Bob Chapman | 2012 is going to be quite a year with falling economies in the UK, Europe, the US, China, Japan and the remainder of Asia. Ron Paul’s poll numbers are up in Iowa (Washington Post) [ As indeed they should be if people are truthful about wanting real change for the better. Historical headwinds Gingrich, Romney and Paul against the odds. (Washington Post)

Judge accuses SEC of misleading court Federal judge accuses the agency of misleading appeals court and withholding crucial information. (Washington Post) [ If it was only just the court that was being mislead, we might find some solace in that judge’s statement. Clearly one of those, ‘Duh … Ya think?’, moments. After all, caught ‘red-handed’ destroying inculpatory evidence against ‘the best and the brightest and most importatantly the biggest’ wall street frauds, goldman et als. You really can’t make this stuff up, so unbelievably contra-indicated to their mission and purpose this corruption blatantly is.( http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  ) Yet, such corruption has indeed become the ‘american way’ in every way. SEC destroyed documents, senator says
17 Aug 2011 ‘The Securities and Exchange Commission destroyed documents and compromised enforcement case ...   Sen.Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ Report: SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a ‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were murdered by mafia / organized crime [ this was documented with authority in ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] SEC faulted over records shredding The SEC destroyed internal documents that should have been preserved as official federal records, the agency’s inspector general has found. (Washington Post) [ Oh, if it was only that, and only the SEC; and if only they did an incisive investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate   http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html   Paul Joseph Watson | Over two dozen Republicans call for Holder to resign. Though heavily redacted, the documents directly discuss “Operation Fast and Furious” and how it involves “trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf      

 

 

Krauthammer: Are we alone in the universe? (Washington Post) [ Wow! Mr. Krauthammer’s waxing philosophical as we’re about usher in the new year … ooooh … the end of the Mayan calendar … 2012 … deh, deh deh deh, dehhhhh! … the mystery of it all … no, this world will not be ending in 2012 … yes, for all practical purposes ‘we’ are alone in the universe; that is, in terms of the future of the human race … decades at most. (In truth, in drafting this comment I hadn’t read the article, just the headline; such ‘speculations’ being unimportant to me and I would add that Carl Sagan’s et als’ views as stated therein from a psychoanalytic perspective were mere projections, a form of displacement) Back to more mundane earthy earthly phenomena aka the here and now … the american political process such as it is … the upcoming election year… and the year generally speaking. It’s goin’ to be … euphemistically speaking … a tough one! Financial Troubles For Many Nations In The New Year Bob Chapman | 2012 is going to be quite a year with falling economies in the UK, Europe, the US, China, Japan and the remainder of Asia.

Milbank: GOP goes into damage-control mode (Washington Post) [ Ah, sweet Mr. Milbank, in ‘wet dream mode’ as he finds solace in the (Freudian psychoanalytic) displacement accorded that ‘other party’ for wobama’s complete and utter failure as ‘president’ of the ever declining on his watch, disunited states. The mentally troubled wobama’s a loser, plain and simple. He’s also typical!  {  http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , http://albertpeia.com/50economicnumbersofuscollapse.htm } Obama could still lose this fight WONKBOOK | GOP is taking heat, but the public historically blames the president for the economy.  (Washington Post) [ Could? Wobama’s a loser! Credible people / organizations are correctly referring to ‘wobama the b for b***s***’ as a con man, clown, fraud, abrogator of constitutional rights and the constitution itself, flipping him the bird, and worse. All are legitimate, accurate, descriptions and displays of disrespect. He deserves no better. He is an abject failure who might even have deluded himself into thinking he’s something other than the worst president in the history of this nation; and there have been some bad ones, including the most recent, and certainly his predecessor bush failure 2, the easiest act in the world to follow, yet he’s mucked up even that dubious distinction quite ‘unroyally’. I personally think his ‘jive-talk/b***s***’ is inherent to his lack of character which amazingly has served him well. Others point to his delusional role as a ‘con man’ (I think that’s just him … no delusion, just b***s*** / jive): ‘…When a nation simply does not care anymore, even a con man can become president.

During a recent 60 Minutes interview, Barack Obama said that only 3 presidents in U.S. history accomplished more than he did during the first two years of his presidency.

The issue here is not going be a list of accomplishments. As you said yourself, Steve, you know, I would put our legislative and foreign policy accomplishments in our first two years against any president with the possible exceptions of Johnson, F.D.R., and Lincoln just in terms of what weve gotten done in modern history. But, you know, but when it comes to the economy, weve got a lot more work to do.

He had to be joking, right?

Sadly, he was not joking.

But it is not just Barack Obama.  The truth is that both political parties are absolutely littered with con men, charlatans and corrupt politicians…’ Getting Worse: 40 Undeniable Pieces Of Evidence That Show That America Is In Decline The Economic Collapse | Is America in decline? That is a very provocative question. The Economic Collapse December 21, 2011

Is America in decline?  That is a very provocative question.  I have found that most people that hate the United States are very eager to agree that America is in decline, while a lot of those that love the United States are very hesitant to admit that America is in decline.  Well, I am proud to be an American, but I cannot lie and tell you that America is doing just fine.  The pieces of evidence compiled below are undeniable.  Our economy is deathly ill and is rapidly getting worse.  We were handed the keys to the greatest economic machine in the history of the world and we have wrecked it.  But until we are willing to look in the mirror and admit how bad things have gotten, we wont be ready for the solutions that are necessary.  The truth is that there are things that we can do to reverse the decline.  It does not have to be permanent.  We have gotten away from the things that made America great, and we need to admit that we are on the wrong path and start fixing this country.  But if we choose to continue down the road that we are currently on, it will lead us into the darkest chapters in American history.

The following are 40 undeniable pieces of evidence that show that America is in decline.

#1 Back in 1985, 11 million vehicles were sold in America.  In 2009, only 5.4 million vehicles were sold in America.

#2 In 1990, the median age of a vehicle in the United States was just 6.5 years.  Today, the median age of a vehicle in the United States is approximately 10 years.

#3 The average price of a gallon of gasoline in 2011 has been $3.50.  That is a new all-time record.  The previous record was $3.24 in 2008.

#4 The average American household will have spent an astounding $4,155 on gasoline by the time the year is over.

#5 The number of children in the United States without a permanent home has increased by 38 percent since 2007.

#6 A decade ago, the United States was ranked number one in average wealth per adult.  By 2010, the United States had fallen to seventh.

#7 The U.S. tax code is now more than 50,000 pages longer than it used to be.

#8 American 15-year-olds do not even rank in the top half of all advanced nations when it comes to math or science literacy.

#9 The United States once had the highest proportion of young adults with post-secondary degrees in the world.  Today, the U.S. has fallen to 12th.

#10 After adjusting for inflation, U.S. college students are borrowing about twice as much money as they did a decade ago.

#11 The student loan default rate has nearly doubled since 2005.

#12 Our economy is not producing nearly enough jobs for our college graduates.  The percentage of mail carriers with a college degree is now 4 times higher than it was back in 1970.

#13 Our infrastructure was once the envy of the world.  Today, U.S. infrastructure is ranked 23rd.

#14 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

#15 Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you adjust for inflation.

#16 According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years.  During 2010 it got even worse.  Last year, an average of 23 manufacturing facilities a day shut down in the United States.

#17 In all, more than 56,000 manufacturing facilities in the United States have shut down since 2001.

#18 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.

#19 Manufacturing employment in the U.S. computer industry was actually lower in 2010 than it was in 1975.

#20 In 1959, manufacturing represented 28 percent of all U.S. economic output.  In 2008, it represented only 11.5 percent.

#21 The television manufacturing industry began in the United States.  So how many televisions are manufactured in the United States today?  According to Princeton University economist Alan S. Blinder, the grand total is zero.

#22 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.

#23 The Economic Policy Institute says that since 2001 America has lost approximately 2.8 million jobs due to our trade deficit with China alone.

#24 According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for inflation.

#25 Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

#26 The size of the economy in India is projected to surpass the size of the U.S. economy by the year 2050.

#27 One prominent economist believes that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

#28 In 2001, the United States ranked fourth in the world in per capita broadband Internet use.  Today it ranks 15th.

#29 Back in the year 2000, 11.3% of all Americans were living in poverty.  Today, 15.1% of all Americans are living in poverty.

#30 Last year, 2.6 million more Americans dropped into poverty.  That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.

#31 According to the U.S. Census Bureau, 6.7% of all Americans are living in extreme poverty, and that is the highest level that has ever been recorded before.

#32 The percentage of children living in poverty in the United States increased from 16.9 percent in 2006 to nearly 22 percent in 2010.  In the UK and in France the child poverty rate is well under 10 percent.

#33 As I wrote about the other day, since 2007 the number of children living in poverty in the state of California has increased by 30 percent.

#34 A staggering 48.5% of all Americans live in a household that receives some form of government benefits.  Back in 1983, that number was below 30 percent.

#35 Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid.

#36 Between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.

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

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

#39 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

#40 The U.S. national debt is now nearly 15 times larger than it was just 30 years ago.

Sadly, most Americans are not fired up about turning this country around.  Way too many of them realize that things are getting worse, but they have checked out and are just going through the motions of life.

A perfect example is posted below.  In this video, a FedEx delivery guy just chucks a computer monitor over somebodys fence…Can you believe he did that?

The sad thing is that the guy was actually home at the time and all the FedEx employee needed to do was ring the bell.

This is the kind of attitude that is killing America.

We all need to start caring again.  We all need to start taking pride in what we do.  We all need to start working hard again.  We all need to make sure that we are living with a sense of personal integrity.

When a nation simply does not care anymore, even a con man can become president.

During a recent 60 Minutes interview, Barack Obama said that only 3 presidents in U.S. history accomplished more than he did during the first two years of his presidency.

The issue here is not going be a list of accomplishments. As you said yourself, Steve, you know, I would put our legislative and foreign policy accomplishments in our first two years against any president with the possible exceptions of Johnson, F.D.R., and Lincoln just in terms of what weve gotten done in modern history. But, you know, but when it comes to the economy, weve got a lot more work to do.

He had to be joking, right?

Sadly, he was not joking.

But it is not just Barack Obama.  The truth is that both political parties are absolutely littered with con men, charlatans and corrupt politicians.

It is going to be up to the American people to get educated about how bad things have really gotten, to start demanding solutions, and to start voting much better people into positions of authority.

If dramatic changes are not made, our economy will continue to get worse and the decline of America will continue to accelerate.

We cannot stay on this road my friends.

It is only going to lead to a total nightmare.

Please share this information as widely as possible, and please try to wake up as many of your fellow Americans as you can while there is still time.’

 

 

43,454,601,693,238 Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock  Zero Hedge
October 17, 2011
By now everyone has had a chance to play with the US debt clock. But what about its global cousin? Courtesy of The Economist, we now have a convenient way to track the hundreds of millions in dollars added each and every hour by the global governments who see to spur global deleveraging by, you guessed it, adding more debt. Yes, in the process the world’s sovereigns are transferring default risk away from global corporations to sovereigns, but few in the #OWS crowd appear to have yet figured out this rather disturbing and very insidious usurpation of sovereignty by the global corporatocracy, so said risk and leverage transfer will continue until such time as any and all paper backed by these insolvent corporate shells (f/k/a countries) is completely worthless. Regardless, one should not forget that like in the sandalone case, the “debt clock” below only tracks on balance sheet debt. Should one add the NPV of all “welfare state” obligations (pensions, retirement, healthcare), the number will be well over quarter of a quadrillion dollars. Have fun funding that, never mind paying it off…

http://www.economist.com/content/global_debt_clock

 

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2-22-12 NEWS / TOPICS

 

 

New Business Topics / Articles / Links

New National / World Topics / Articles / Links

Selected Drudge Articles / Links



Business Summary / Links


The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!  Train Reading: The Stock Market Is (Criminally) Insane The Wall Street Journal  , [ STOCKS RALLY DESPITE BAD NEWS: Here's What You Need To Know Business Insider , http://albertpeia.com/22signsglobalrecessiondepression.htm  ] For those who think this money-printing out of thin air is without cost, you’re in for a worse than rude awakening. The global markets have become a joke! This is a ‘full press’ as in ‘fiat paper printing presses in overdrive’ debased Weimar dollars / currencies that will end quite badly so take this opportunity to take profits while you can. The manipulated, contrived, and fake data has all been unaffordably ‘electioneared’ for ‘electionyeared’ spin and propaganda. Don’t be their fool! The full moon previously helped keep the contraindicated lunatics’ huge suckers’ rally going with across the board media et als complicity (infra). But not quite … reality (will) catch(es) up … you know the drill … typical suckers’ surge into the close off lows, etc.. This will all end quite badly and is much like the ‘floating on air’ stock price scenario that preceded the dot.com and most recent, continuing debacles. {  http://albertpeia.com/todaysbusinesssummarylinks.htm - today’s business summary links only, by day – scroll down as well for today’s links and for more complete context – Encouraged and recommended! } This global suckers’ rally is based on market frothing hopium for unaffordable, contraindicated, failed QE/wall street only welfare (which is being injected sub rosa, see infra), bad news, fraud, b***s***, and desperation alone, as suckers’ rallies ushered in the new year in a most preposterous fashion [Forget the “January Effect”… Instead Skousen http://www.investmentu.com/2010/December/january-effect-vs-siegel-indicator.html  http://albertpeia.com/forgetthejanuaryeffect.htm  , INVESTORS, SKIP THE 'JANUARY INDICATOR' FOR STOCKS Jan. 26, 2012 Mark Hulbert [ the frauds on wall street still shootin’ for the superstitious so-called ‘January effect’ based on based on market frothing hopium for unaffordable, contraindicated, failed QE/wall street only welfare, bad news, fraud, b***s***, and desperation alone to suck suckers in and keep suckers sucked in! Don’t be their fool! Mohammed El Erian gets this and to Frank Motek 1070am relates that he’s using the up moves to reduce risk assets / stocks / exposure, in other words, he’s selling the rallies which is sound advice. The fundamentals/realities, current and prospective, are worse than ever. There are no systems/formulas for these unprecedentedly dire times. Don’t be their sucker! This is an especially great opportunity to sell / take profits because there’s much, much worse to come! Here’s a simple chart of the Dow’s history  http://albertpeia.com/dowjonesindavghistory.htm  . Keep in mind how lowly the dollar’s become in terms of purchasing power and relative to metals as ie., gold, etc.. Don’t be scammed by the frauds on wall street, et als.] with lingering intoxication an explanation as the printing presses and issuance of worthless insurmountable debt paper are in full throttle globally (a testament to global blindness as the blind follow the blind) making this impending disaster at this time an especially great opportunity to sell / take profits because there’s much, much worse to come! jersey-lautenberg based adp with 100% better than expectations private sector jobs number? Nobody thinks so (infra)! Scandal scarred commerce department data? Labor dept. ue claims / ue numbers? Only a fool believes what they say! ( After One Month Respite, Pink Slips Are Flying Again, 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 Today’s Levels Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012). , ‘…technical pattern is predicting the S&P plunges to 935Bank of America via Zero Hedge  Mary Ann Bartels, Bank of America's Head of Technical and Market Analysis , 935 is nothing; the S&P 500 will crash to 579.57United-ICAP's Walter Zimmerman (via WSJ's Tom Kilgore) is a technical analyst who has been looking at the charts and they're telling him that the S&P is headed for 579.57…’   ,  The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming  http://theeconomiccollapseblog.com http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm Why earnings will continue to decline MarketWatch , 10 Things That Every American Should Know About The Federal Reserve  Eco.Coll.Blog http://albertpeia.com/10thingsmustknowaboutfedreserve.htm  #1 The Federal Reserve System Is A Privately Owned Banking Cartel #2 The Federal Reserve System Is A Perpetual Debt Machine #3 The Federal Reserve Has Destroyed More Than 96% Of The Value Of The U.S. Dollar #4 The Federal Reserve Can Bail Out Whoever It Wants To With No Accountability #5 The Federal Reserve Is Paying Banks Not To Lend Money #6 The Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging #7 The Federal Reserve System Is Dominated By The Big Wall Street Banks #8 It Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve System Both Come Into Existence In 1913 #9 The Current Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track Record Of Incompetence #10 The Federal Reserve Has Become Way Too Powerful  ,  A Warning Sign For The World  http://albertpeia.com/warningsignfortheworld.htm Any financial system that is based on debt is doomed to fail.  Today, we are living in the greatest debt bubble that the world has ever seen … ,  Despite Two Thirds Of Components Declining, Empire Fed Prints At Highest Since June 2010  ZeroHedge | Chalk this one to “seasonal adjustments” or something, cause we no longer have any clue what is going on with the data fudging in America. ,  20 Signs You Might Be A Typical American Worker  http://albertpeia.com/20signsoftypicalamericanworker.htm , 10 Signs That America Is Decomposing Right In Front Of Our Eyes   http://albertpeia.com/10signsamericadecomposing.htm , 8 Reasons Why The Greek Debt Deal May Not Stop A Chaotic Greek Debt Default   http://albertpeia.com/8reasonsgreekdebtdefaultstillcoming.htm , Scandal: Greece To Receive "Negative" Cash From "Second Bailout" As It Funds Insolvent European BanksEarlier today, we learned the first stunner of the Greek "bailout package", which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup's statement on the Greek bailout, we find another very creative use of "negative" numbers. And by creative we mean absolutely shocking and scandalous. First, as a reminder, even before the current bailout mechanism was in place, Greece barely saw 20% of any actual funding, with the bulk of the money going to European and Greek banks (of which the former ultimately also ended up funding the ECB and thus European banks). Furthermore, we already know that as part of the latest set of conditions of the second Greek bailout, an 'Escrow Account" would be established: this is simply a means for Greek creditors to have a senior claims over any "bailout" cash that is actually disbursed for things such as, you know, a Greek bailout, where the money actually trickles down where it is most needed - the Greek citizens. Here is where it just got surreal. It turns out that not only will Greece not see a single penny from the Second Greek bailout, whose entire Use of Proceeds will be limited to funding debt interest and maturity payments, but the country will actually have to fund said escrow! You read that right: the Greek bailout #2 is nothing but a Greek-funded bailout of Europe's insolvent banks... and the Greek constitution is about to be changed to reflect this! , Would You Support an Iran War If … : George Washington : 2/22/12  http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm , Europe's Nash Equilibrium - A Tightly Stretched Rubber Band?Guest Post: Dangerous IdeasThere is a very clear relationship between economic growth and sufficient quantities of high quality energy. A crude measure of energy quality is its price. The lower the price for a unit of energy, the higher its quality (or net energy), but this is a very crude measure that can and often is heavily distorted by subsidies, market pressures, and other factors. As we squint at the world price for oil and note that Brent today is trading at $120 per barrel, it is clear that this high price is signaling that energy is now more expensive than it used to be. By adopting the belief that Peak Oil has been debunked, one runs the risk of missing the larger story that our current economic model is unsustainable. And that stocks and bonds and other traditional investments that derive a large portion of their current value from expectations of future growth simply may not perform anything like they have in the past. And worse, that recent and continuing efforts to revive the old economy by printing money risk the destruction of the money system itself. Given this all-too-human tendency to attempt to preserve the status quo, in this case by printing money, I must reiterate my advice to be sure that gold forms a significant portion of your core portfolio. , Complete Latest Hedge Fund Holdings AnalysisThe fine folks at Street of Walls have been kind enough to provide us with their latest 13F breakdown which looks at the position changes across America's 30 largest and most important hedge funds. ,  NAR Continues Tradition Of Making Mockery Of Itself, Revises December Home Sales From +5% to -0.5% And here is yet another reason why we will permanently ignore the pathologically lying real estate syndicate known as the NAR (link): December data was just revised from +5% to -0.5% (from 4.61 million to 4.38 million). Since December market expectations were for a +5.2% print, imagine the sheer horror the algos would have been faced with had the real number been reported on time. Needless to say, if this number had been unrevised, the January +4.3% increase would have been a decline. This way the aglos focused only on the immediate moment get two months of beats in a row. Huzzah. Anyone who trades anything based on this borderline criminal self-reporting enterprise needs to have their head checked. In other news, when will the LIBOR investigation finally target the NAR? , Why The Core Needs To Save The PeripheryWe have discussed, at length, the symbiotic (or perhaps parasitic) relationship between the banking system in Europe and the governments (read Central Banks). The LTRO has done nothing but bring them into a closer and more mutually-reinforcing chaotic relationship as we suspect many of the Italian and Spanish banks have gone all-in on the ultimate event risk trade in their government's debt. It should come as no surprise to anyone that the bulk of the Greek bailout money will flow directly to the European banking system and Credit Suisse has recently updated the bank exposure (by country) to peripheral sovereign debt that shows just how massively dependent each peripheral nation's banking system is on its own government for capital and more importantly, how the core (France and Germany) remains massively exposed (in terms of Tier 1 Capital) to the PIIGS. Retroactive (negative) salary cuts may well not be the worst of what is to come as the bankers deleveraging returns to bite them in a phoenix-like resurrection of sovereign risk on now even-more sovereign-bloated (and levered) balance sheets. , It's Official - Greece Unveils The Negative Salary, And A Whole New Meaning For "Pay To Play" Zombie Housing Market Chronicles - Fed Fails Again To Stimulate A Housing RecoveryWhile today the association of real estate advertising agents known as the NAR will tell us that the home market is improving - an economic observation which we will completely ignore as any data out of the NAR is now proven to be manipulated and fraudulent, a far better indication of the ongoing implosion in the housing market, and more importantly - the sheer powerlessness of the Fed to do anything about it - came out of the latest weekly Mortgage Brokers Association, which showed that refi applications were down 4.8% W/W, while purchases slid 2.9%, after collapsing 8.4% in the past week. , No, This Is Not Mount Olympus... ...This is a chart of the Greek bank stock index, which has gone from an all out demented euphoria to suicidal depression in 5 days, as the rumor that Greece is "saved" has been replaced with the reality that Greece is still "completely broke" ,  Greek 1 Year Hits 763%WTF Did All That Printed Money Go? : ilene : 02/22/2012 - A riddle, wrapped in a mystery, inside an enema. ,  Dave’s Daily: http://www.etfdigest.com MARKETS ARE GETTING TIRED February 22, 2012Clearly it’s hard for markets to consistently produce 3%-5% monthly returns without taking a break. This is what we’re now seeing absent—more positive news. Jobless Claims data Thursday should shed some light on conditions as will next week’s Employment Report which needs to verify a better trend in conditions. Gallup is projecting an unemployment rate in excess of 9% again although they don’t seasonally adjust like the BS BLS does.We read yesterday some breathless financial commentators remarking that mutual funds showed the first positive fund flows since the previous January. That’s a nice assertion, but January is always a time for people to invest for their IRA or 401K and so forth. Surprisingly ETF fund flow data from the previous bullish week showed $1.2 billion in outflows for both equity and bond sectors.Basically, markets are just getting tired. We’ve remarked to members regarding weekly DeMark 9 count indicators which normally reflect “trend exhaustion”. This is not to say these counts are perfect and may just indicate some sideways movement ahead. And, that’s all we may be seeing despite how much liquidity global central banks are feeding bulls. Meanwhile the SEC’s Mary Shapiro said she’s worried about HFT (High Frequency Trading). Worrying isn’t a policy. Wake me when you’re on to something real… , Fitch downgrades Greece on debt swap plan , Greek Debt Deal Done—Yeah Right  Greg Hunter | I keep asking myself, when is a deal not a deal?

 

  Meanwhile, China Moves From Currency Wars To Trade Wars Greek CDS Trigger Priced In For Greece, "Tomorrow" Has Arrived   The day dawns with a deal for Greece that is full of smoke and mirrors; lies and deceptions. , More Leaked Greece Details: Downside Case Sees Funding Needs Soar From €136 Billion To €245 BillionJPM Hikes Crude Price Forecast, Sees $120 WTI By Election Time The Price Of Gas Is Outrageous – And It Is Going To Go Even Higher  http://albertpeia.com/gaspriceshigher.htm  ,  Drudgereport: White House seeks to deflect blame... GALLUP: Unemployment Rises to 9% In February... SATISFACTION WITH COUNTRY WORST SINCE CARTER... Michelle hits the slopes in Aspen month after Hawaiian holiday... 16th vacation in 3 years... For Baby Boomers, it's now 'work til you drop'... Gas prices highest ever for this time of year... $4.93 in Los Angeles...  ,  Guest Post: Consequences To Expect If The U.S. Invades Iran Let’s be honest, quite a few Americans love a good war, especially those Americans who have never had to bear witness to one first hand.  War is the ultimate tribally vicarious experience.  Anyone, even pudgy armchair generals with deep-seated feelings of personal inadequacy, can revel in the victories and actions of armies a half a world away as if they themselves stood on the front lines risking possible annihilation at the hands of dastardly cartoon-land “evil doers”.  They may have never done a single worthwhile thing in their lives, but at least they can bask in the perceived glory of their country’s military might.   This attitude of swollen ego through proxy is not limited to the “Right” side of the political spectrum as some might expect.  In fact, if the terrifyingly demented presidency of Barack Obama has proven anything so far, it is that elements of the “Left” are just as bloodthirsty as any NeoCon, and just as ready to blindly support the political supremacy of their “side” regardless of any broken promises, abandoned principles, or openly flaunted hypocrisies.  No matter how reasonable or irrefutable the arguments against a particular conflict are, there will ALWAYS be a certain percentage of the populace which ignores all logic and barrels forward to cheerlead violent actions which ultimately only benefit a select and elite few. , The Real Mega-Trend That Guarantees the Cost of Living Will Rise http://gainspainscapital.com February 21st, 2012 , Guest Post: The Great ECB-OSI Bond-Swap Scam massive 150bn euro bill exclusively reserved for the EU-IMF funding of the "official" (OSI) and the private (PSI) sector participations in the Greek writedown on Greek debt may be the key factor behind the ongoing delays in the eurozone finance ministers' approval of a second bailout for Greece. This factor remains concealed behind media hysteria about the supposed failure of Athens to comply with a brutal austerity diktat by the EU-IMF-ECB 'troika'....The question is how will the Eurogroup approve these PSI participation costs that far exceed the supposed gain from the 100bn euro "haircut" but also leave nothing to cover Greece's debt servicing obligations for 2012-2014 of at least another 70bn euros to say nothing of possible budget deficits due to the collapse of public revenues in the fifth consecutive year of a Greek depression. All the histrionics about forcing Greece to set up a separate “escrow account that would give legal priority to debt and interest payments over paying for government expenses”, is nothing but a smokescreen for piling massive sums of fresh public debt on Greece's shoulders without lending a single penny to make up for the economic catastrophe meted out on the country. , Tomorrow And Tomorrow And Tomorrow Once we see what Europe is really going to do, not what they have told us they might do, the real show gets underway. Everything up till now was just a preamble, a mincemeat of words flowing like a unsubstantiated river from mouths full of fluff, orated by the deceptors… , As Everything Disconnects And Everything Is Soaring, Morgan Stanley Issues A Warning The latest report from Morgan Stanley's Graham Secker can be summarized simply as follows: i) in January everything has disconnected as traditional linkages between asset classes have broken down, ii) also in January every major asset class (equities, treasurys, gold, oil) was up materially, iii) such a phenomenon has been seen only 5 times in the past 5 years, iv) a double digit decline followed 3 of the past 4 such surges. , European Insurers: How Long Before Capital Denial Becomes Capital Punishment …the last week or so has seen insurers start to deteriorate as perhaps the market will enforce its own capital expectations even if regulators are unwilling to. ,  Gold Surges As Market Remembers Definition Of "Dilution" Yesterday, when charting the global multi-trillion central bank stealth reliquification (aka the primary driver for the market to surge 20% in the past several months, and since "the market, or Russell 2000 is the economy" just as the ChairSatan, to result in what naive commentators define as an economic bounce), we said "As a reminder, when gold was at $1900 last summer, central banks had pumped about $2 trillion less into the markets. We expect the market to grasp this discrepancy shortly." With gold about $30 bucks higher, the market is finally starting to "grasp it", and is now back to $1755, as silver passes $34. ,  As Dow Passes 13,000 In Nominal Terms, Here Is The "Real" PictureThree charts that perhaps will calm the nominal euphoria as Dow 13000 screams across the screens. Since May 2008, the Dow is unchanged in price and down 50% in 'real' gold terms. The picture is just as disheartening from the start of 2011 and 2012. Next stop Dow 20,000 and Gold 20,000?   Wondering why the DJIA just passed 13K again? Wonder no more: as the chart below shows it is entirely due to the nearly $7 trillion pumped by global central banks into the world stock markets just in the past 4 years. As Sean Corrigan from Diapason notes, the aggregate global central bank balance sheet has doubled in four years, after doubling in the 5 years before that. We would add that with the entire centrally planned ponzi scheme hell bent on preserving the illusion of nominal gains, global liquidity is now fungibly sloshing from one market to another with absolutely zero resistance whatsoever. At this rate, it should double again in 3 years, then 2, and so on. Will the Dow hit 52K in 5 years in that case? Why most certainly. Just ask any remaining citizens of the Weimar Republic… , Guest Post: Scale Invariant Behaviour In Avalanches, Forest Fires, And Default Cascades: Lessons For Public Policy We have lived through a long period of financial management, in which failing financial institutions have been propped up by emergency intervention (applied somewhat selectively). Defaults have not been permitted. The result has been a tremendous build-up of paper ripe for burning. Had the fires of default been allowed to burn freely in the past we may well have healthier financial institutions. Instead we find our banks loaded up with all kinds of flammable paper products; their basements stuffed with barrels of black powder. Trails of black powder run from bank to bank, and it's raining matches. , Iceland’s Viking Victory London Telegraph | Fitch has upgraded the country to investment grade BBB – with a stable outlook

 Goldman Raises Stop On Its Long Russell 2000 Reco, Cites Heightened Concerns Of Greek Default The Triumvirate of Wall Street/ the Fed/ and US Politicians is Crumbling Pt 2 : Phoenix Capital... : 02/17/2012 - ‘One thing is for certain, the litigation is beginning to shift from minor players to major players at the core of the Financial Crisis. , Greek CAC Trigger Walk Thru  While we have done our best to explain what the implications are of the actions of the various parties in the Greek/German/ECB/Euro swap/default/CAC/PSI/Austerity events, it is perhaps worth one more try to address how we see this playing out and exactly what the ECB just did. The weakness in GGBs today along with the rise in the cost of Greek basis packages (a hedged bond trade that looks to profit from a credit event or compression) suggest markets are beginning to wake up to reality but the dead-currency-walking behavior of the EUR (and ES) since last night's close suggests many remain sidelined or have all their chips on the constantly-tilting table. In the end every private holder will write-off 50 percent permanently and those that live in a mark to market world (fewer and fewer live in that world in Europe) probably lose another 20 points or so. CDS will be triggered and we will be told how great it was that Greece avoided a default and that it is an isolated case. Is that scenario priced in? , Could ECB Greek Bond Swap Trigger Ratings Default?at The Wall Street Journal , Greek 1 Year At 629%, Biggest One Day Jump In Yield EverThe equities market is acting like we know Greece's default will be orderly and no threat to financial stability. It is also acting like we know the U.S. economy can grow smartly while Europe contracts in recession. Lastly, the high level of confidence exuded by market participants suggests we know central bank liquidity is endlessly supportive of equities. What do we really know about the coming default of Greece? Whether we openly call it default or play semantic games with "voluntary haircuts," we know bondholders will absorb tremendous losses that are equivalent to default. We also suspect some bondholders will refuse to play nice and accept their voluntary haircuts. Beyond that, how much do we know about how this unprecedented situation will play out? , Dave’s Daily: http://www.etfdigest.com  ‘Speaking of defaults Americans and Europeans dissatisfied with bailing out banks and countries should examine what has happened with Iceland. The country defaulted, banks failed, bankers were prosecuted and jailed. This was in 2008 as you may recall. The country is now on the mend and Fitch just upgraded the country’s credit rating to investment grade (BBB+) with a stable outlook. You see, you don’t need bailouts and money printing. Iceland is the anti-Keynes Bernanke/Geithner/Paulson/Bush/Obama story.’ , 'Dow Theory' Suggests Caution Ahead The Wall Street Journal ‘Transportation stocks are once again flashing a warning signal to the broader stock market. , Commercial Bank Consumer Credit Declines Sharply In January Forbes   Charles Biderman, Contributor , Christine Lagarde Is Done Being Greece’s Sugar Momma Getting A Grip On Rising Costs Of Grub And Gas  Forbes / John Debosz   , Earnings Prepped To Fall Off A Cliffat The Wall Street JournalThe Latest Market Craze: Stock Trading Robots Reacting To Stories Written By... RobotsIt appears that while we were busy over the past month spreading the Greek pre- and post-bankruptcy balance sheet, and otherwise torturing Excel (something we urge other financial journalists to try once in a while - go ahead, it doesn't bite. In fact, it is almost as friendly as your favorite Powerpoint) our peer at such reputable financial publications as Forbes, and many others, were laying off carbon-based reporters and replacing them with... robots. As Mediabistro reports, "Forbes has joined a group of 30 publishers using Narrative Science software to write computer-generated stories. Here’s more about the program, used in one corner of Forbes‘ website: "“Narrative Science has developed a technology solution that creates rich narrative content from data. Narratives are seamlessly created from structured data sources and can be fully customized to fit a customer’s voice, style and tone. Stories are created in multiple formats, including long form stories, headlines, Tweets and industry reports with graphical visualizations.”" In other words, with well over 70% of stock trading now done by robots, we have gotten to a point where robots write headlines and stories read, reacted to and traded by robots. Surely, what can possibly go wrong. And here we were this morning, wondering why the market is not only broken but plain dumb. , Guest Post: Exploring The Not-So-Altruistic Aspects Of The "Buffett Rule"Although no one can be sure of Buffett's motives, it would be naïve to believe that .. Buffett has not considered the benefits of pushing through this tax structure. Higher taxes are always problems for entrepreneurs and regular people in the economy. However, they're often beneficial to the well-connected, who receive government bailouts and favors. And with Buffett even on the president's lips, he is becoming more connected to the power mechanism in D.C. every day. With many of Berkshire's companies, your loss as a taxpayer will be their gains. , China: ‘World Bank president should be selected on merit – not nationality’ AP/Washington Post | China now hinting it would like a seat at the VIP club table in New York City , A Depressed World Economy is Here To Stay: Bob Chapman Reports Prisonplanet.com | By decree, by the privately owned Federal Reserve, zero interest rates are here to stay. , Banker Occupied Europe and America Stephen Lendman | Money power rules. Across Europe and America, governments follow banker diktats. They demand economies and people suffer to assure they’re paid. , Gas Hts $3.99 in San Diego 10News.com | Average Price Of Gallon Of Gas Is $3.99. , CBO: Longest Period of High Unemployment Since Great Depression US News | After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression. ,

The Reporter Is Either Wrong Or This Is A Bad Deal For Greece Bank Bonds Not Buying The Rally Sprott's John Embry:“The Current Financial System Will Be Totally Destroyed“ America's Discretionary Spending Well Has Run DryQuote Of The Week “Whoever controls the volume of money in our country is absolute master of all industry and commerce…and when you realize that the entire system is very easily controlled, one way or another, by few powerful men at the top, you will not have to be told how periods of inflation and depression originate.” – President James Garfield, 2 weeks before his assassination. , SocGen Sums It Up: "The Time For Patching It Up Is Over" Bullish Sentiment Takes A Diveat The Wall Street Journal , Greece is Not Lehman 2.0… As I’ll Show You, It’s Far Far Worse… February 16th, 2012 http://gainspainscapital.com , Morgan Stanley Smith Barney: Yep, We're Still Bearishat The Wall Street Journal , While You Were Sleeping, Central Banks Flooded The World In LiquidityThere are those who have been waiting to buy undilutable precious metals in response to a headline announcement from the Fed that it is starting to buy up hundreds of billions of Treasurys or MBS.  This is understandable - after all that is precisely the trigger that the headline scanning robots which account for 90% of market action in the past year are programmed to do. , As US Debt Hits New Record, Fiscal 2012 Tax Revenues Are 10% Higher Than Debt IssuanceToday, the US total debt rose by $32 billion touching on a new record high of $15.392 trillion. As a reminder this is just the beginning: as we noted yesterday, according to the president's own budget total US debt is now expected to surpasses the greatest and final debt ceiling of $16.4 trillion just around September, and likely sooner with the addition of the $160 billion in additional debt needed to fund the extension of the Bush temporary yet perpetual tax cut through the end of 2012. So while we know that total debt to GDP is already over 100% and unlikely to ever decline back to double digits, thus putting into question the marginal utility of debt to generate further economic growth, another just as important question is what is the incremental utility of tax revenue relative to debt issuance, i.e., is America now issuing more debt than it is collecting from tax revenues: a step which would further cement its status as a banana debt republic. , ECB To Fund Eurozone Central Banks As PSI SweetenerA number of headlines from Bloomberg, via Die Welt, that the ECB will undergo a bond swap on their greek government bonds and the 'profit' will flow to governments. This is absolute delusion. The ECB claims EUR50bn nominal value of GGBs - so likely took a EUR20-30bn loss on this given the prices they bought at under the SMP and the current market price. We explained last week (must-read) the delusional nature of these profits (given the losses that occur once the new bonds break) and assume this is yet another attempt to make market participants believe they wil help with PSI. However, there is more to this in our humble opinion. Since the ECB says they will distribute profits (which we know are illusory) to governments - it is nothing but a covert attempt to funnel money (think printing) to local government central banks - and the illusory profits here are simply giving away free money. Perhaps the loud screaming over the pain associated with even an 'orderly' Greek default is enough that the ECB needs to placate them with some new freshly printed money? For now, the PSI remains in limbo for the hold-out blocking stake reasons we have discussed at length - if the ECB were to step into the market and buy/swap with hold-outs all of their UK-law bonds at Par (for huge gains to the hedgies) then perhaps we get a deal done - but this would be astounding and leave the rest of the European sovereign debt market disabled as investors pushed for the same deal and vigilantes drove Portugal and then Spain to this point...Is it perhaps cheaper for the Troika to fund the ECB's EUR30bn loss (and let Greece default) than pay the EUR130bn for them to stay?Two formal requests to Mr. Draghi - please show where the profit is booked on your balance sheet and also explain how a notional swap (no debt reduction) in any helps the Greeks? , The Farce-Hole Gets Deeper: Obama's "Robo-Settlement For Votes" Cost To Taxpayers: $40 BillionPlunging deeper into the farce-hole, the FT reports tonight that Obama's foreclosure settlement with the banks over their improper seizure of tax-paying US citizens' homes will in fact be subsidized by those very same US taxpayers. It is a hidden clause (that has not been made public yet) that allows the banks to count future loan modifications under the $30bn (taxpayer funded) HAMP initiative towards their $35bn agreement to restructure obligations under the new settlement. As the FT goes on to note, BofA will be able to use future mods made under HAMP towards the $7.6bn in borrower assistance it is committed to provide - which means, in a (as TARP inspector general Neil Barofsky describes) 'scandalous' turn of events the bank will receive payments for averting a borrower default and be reimbursed by the taxpayer for the principal write-down. We have much stronger words for how we are feeling about this but Barofsky sums it up calmly "It turns the notion that this is about justice and accountability on its head". Are the Big Five banks truly beyond the law? Credit Suisse The Sequel: "Probability Of The Largest Disorderly Default Loss In History On March 20 Has Increased" A week ago we presented an excerpt from Credit Suisse's most excellent piece "The Flaw" - merely the latest in one of the best overviews of the neverending Greek soap opera by William Porter. Yet every soap opera eventually ends. Although when it comes to Nielsen ratings, the denouement is usually a whimper. In the case of Greece, it will be anything but. Yet listening to the daily cacafony of din from Europe's leaders, who are likely more clueless than the average reader as to what is really going on, one may be left with the impression that there is a simple solution to the problem, and Greece may be "saved... in hours." It can't. In fact, as of today, Porter's s conclusion is: "we are left with a sense that the probability of delivering the largest default loss in history in a disorderly way on or before 20 March has increased relative to doing so in an orderly way."

Dave’s Daily: http://www.etfdigest.com  APPLE RUMORS & GREECE HALT RALLY February 15, 2012 , Inflation, Stealth Inflation, and How to Maintain Your Purchasing Power Against Both February 15th, 2012 http://gainspainscapital.com   ,  A&G's AIG Moment Approaching: Moody's Downgrades Generali, Cuts Megainsurer Allianz Outlook To Negative As Greece Crashes And Burns, Troika Arrives In Portugal With "Soothing Words Of Support"What is better than a one-front European war on insolvency? Why two-fronts of courseGuest Post: Bad Week For FreedomIt was a bad week for freedom loving people, but I believe there are enough patriots left in this country to change our course. We are being buried under a blizzard of lies on a daily basis. We have a choice. We can support the existing corrupt crony capitalist establishment (Obama & Romney) or we can declare war on lies, deceit and misinformation by rallying behind the only person who would truly attempt to reverse decades of corruption, sleaze, incompetence, bloat, debt accumulation, and a warped version of free market capitalism – Ron Paul. He is the only public figure willing to level with the American people and tell them the truth. Will we let the concept of truth fade out of the world? The choice is ours. “In our age there is no such thing as ‘keeping out of politics.’ All issues are political issues, and politics itself is a mass of lies, evasions, folly, hatred and schizophrenia. The very concept of objective truth is fading out of the world. Lies will pass into history.” –   George Orwell Biderman Beyond Baffled by B.O.'s BudgetIn his best Lewis Black impression, TrimTabs CEO Charles Biderman succinctly destroys the 'growth' myth behind Obama's budget plan as nothing but a handout and money-printing exercise in futility and drain-circling. Based on the $3.8tn budget plan, the TrimTabs truth-seeker notes that current government tax revenues are about $2.4tn, and growing at no more than $100bn each year, making the math surprisingly simple - we spend around $300bn per month and receive only $200bn with the missing $100bn to pay for the US government's largesse (income shortfall) coming from - 'printing money'. The spin is, of course, that revenues will somehow magically start to grow faster than spending and shrink the budget deficit. , The Hidden Taxes In Obama's Budget Moody's may downgrade 17 banks, securities firms , US stocks fall as Greek talks lumber; Apple falls , Fed's Fisher Dismisses QE3 as 'Wall Street Fantasy' The Wall Street Journal , STOCKS FINALLY DIVE, TEMPERS EXPLODE IN EUROPE: Here's What You Need To KnowBusiness Insider , Market Recap: Stocks Slip as Greek Bailout Decision PostponedWall St. Cheat Sheet , Obama Cites Rising Gas Prices – Up 83 Percent Under His Tenure – Among Reasons to Extend Payroll Tax Cut CNS News , The Federal Reserve’s Explicit Goal: Devalue The Dollar 33% Business Insider , Li(e)borgate Set To Become "Next Big Litigation Thing" As Lawsuits Against Libor Banks AvalancheLast week we discussed the gradual unraveling of a topic we had been following for the past 3 years, namely the brazen and criminal manipulation in the Libor market, which directly and indirectly impacts a stunning $350 trillion worth of securities (and thus, their implied risk, and hence, prices). Today we are delighted to learn that the retribution against these banks who have been artificially representing to the market that they are in better condition than in reality (courtesy of Libor's "strict" self-reporting approach), are beginning to see lawsuits filed against them, with Schwab merely the latest out of the gate. And just as fraudclosure was the litigation topic of 2010 and 2011, sit down and watch as Li(E)borgate explodes into the biggest litigation pain for banks, with litigation expenses that could easily surpass both the robosigning scandal (and its robo-settlement) and the escalating banks Reps and Warranties scandal. Because as recent evidence confirms, there are likely emails proving manipulation exists black on white, as discussed last week. Which means that the case of Schwab, noted last summer by Reuters, is about to become a pandemic. , Complete Jeff Gundlach "Fall Of The [BLANK] Empire" SlideshowYour listened the call, now enjoy the Gundlach slides in the leisure of your own unrehypothecated concrete bunker, 50 feet below sea level.Rumor Regurgitation Time: China To The Rescue... All Over AgainIn case one is wondering what lit a fire under the EURUSD and the ES' ass in the past 30 minutes, why it is the trusty old fall back - China, to which all algos respond every single time like stung donkeys as if on command. Because just as the EURUSD was about to retrace the lows as the realization that the EOD rumor was nothing but an infrared herring, something else had to step in an continue to rumor-based levitation. , David Rosenberg - "Let's Get Real - Risks Are Looming Big Time"Earlier, you heard it from Jeff Gundlach, whom one can not accuse (at least not yet) of sleeping on his laurels and/or being a broken watch, who told his listeners to "reduce risk right now" especially in the frenzied momo stocks. Now, it is David Rosenberg's turn who tries to refute the presiding transitory dogma that 'things are ok" and that a Greek default will be contained (no, it won't be, and if nobody remembers what happened in 2008, here is a reminder of everything one needs to know ahead of the "controlled", whatever that is, Greek default). Alas, it will be to no avail, as one of the dominant features of the lemming herd is that it will gladly believe the grandest of delusions well past the ledge. On the other hand, they don't call it the pain trade for nothing. Infographic: Visualizing The True Cost Of War While we have shown some quite fascinating infographics (here and here) from the folks at Demonocracy, this one may be the most informative. Because while everyone knows by now that if the global "bailout" to preserve the insolvent ponzi were to be paid in crisp, physical $100 bills, the amount of money required would fill countless skyscrapers, and only pales compared to the the amount of money needed to fund the insolvent welfare state which at last check was at over a quarter of a quadrillion, it is another less appreciated aspect of the daily US spending routine that is arguably just as big an offender when it comes to endless wanton spending: the cost of war. Below we present just that, in a series of simple, easy to understand charts that even Nobel peace prize winners should grasp.Many Of You Will Not Believe Some Of The Things Americans Are Doing Just To Survive http://albertpeia.com/survivinginamerica.htm ‘You might not want to read this article if you have a weak stomach.  Most Americans have absolutely no idea what is going on in the dark corners of America, and when people find out the truth it can come as quite a shock.  Many of you will not believe some of the things Americans are doing just to survive.  Some families are living in sewers and drain tunnels, some families are living in tents, some families are living in their cars, some families will make ketchup soup for dinner tonight and some families are even eating rats.  Some homeless shelters in America are so overloaded that they are actually sending people out to live in the woods.  As you read this, there are close to 50 million Americans that are living below the poverty line, and that number rises a little bit more every single day.  America was once known as the greatest nation on earth, but now there is decay and economic despair almost everywhere you look.  Yes, money certainly cannot buy happiness, but the lack of it sure can bring a lot of pain.  As the economy continues to decline, the suffering that we see all around us is going to get a lot worse, and that is a very frightening thing to think about.The following is a half hour documentary produced by the BBC entitled "Poor America".  Trust me, this is a must watch.  Your heart will break as you hear some American children talk about what they have to do forfood ... http://www.youtube.com/watch?feature=player_embedded&v=suJCvkazrTc ,  Guest Post: Wall Street Has A Sad :-(  Michael “Moneyball” Lewis was the first one to, er, expose us to the term Big Swinging Dick. His his first novel, Liar’s Poker, was full of them. The BSDs were the guys on the trading floor who brought more rain than El Niño. But the BSDs have gone a little soft now. Even the famous Wall Street bull has been caged. And some, like number one banking fanboi Dick Bove say that bankers been “castrated” altogether by new regulation. Regulation which many argue does not go far enough. Regardless, the Masters of the Universe suddenly find themselves feeling the pain that many of the rest of us have been feeling for the past four years. Only their ways of coping with it are a little different than what you might expect.

   News Flash: The Rally Is Over…For Now  The Wall Street Journal 2-10-12 ‘..That’s enough of a pullback for Mr. Arbeter to call a near-term top. He sees the S&P 500 tumbling into the 1290 to 1320 range by early March, with tech stocks as the ”most overbought and vulnerable to some profit taking.”..’ , This Is What An Economic Depression Looks Like In The 21st Century http://albertpeia.com/21centurydepressiongreecedusup.htm   2-10-12 ,  Macroeconomic problems will not go away MarketWatch  , S&P Downgrades 34 Of 37 Italian Banks - Full StatementThe Great Squeeze: Asset Prices Will Fall, While the Cost of Living Will Rise February 13th, 2012  http://gainspainscapital.com  ,  The next Black Swan is coming (Updated)at MarketWatch By Cody Willard CBO Solution to Budget Crisis – Everyone Bend Over!  ,  Young Adults Jobless And Living At Home With Mom And Dad?  http://albertpeia.com/joblesslivinhome.htm  , January Gas Prices At All-Time Highs20 Things We Can Learn About The Future Of America From The Death Of Detroit   http://albertpeia.com/20thingshellholeamericasfuturedeathofdetroit.htm ,  Midday Market Report: Poor Retail Sales Drag Down Equities  Minyanville   ,  The Triumvirate of Wall Street/ The Fed/ and the White House is Beginning to Crumble February 14th, 2012 ‘The Obama administration, as it pursues re-election in 2012, is doing all it can to claim that the US economy is in fact not quite as bad as previously thought. One of the tactics is to massage GDP and jobs data. True, this practice has been in place for over a decade, but the recent January jobs report from the BLS has set, shall we say, a new high-water mark for “adjustments.” According to the BLS, we ADDED 243,00 jobs that month. That’s an odd claim given that the BLS admits, in the very same report, that without adjustments, the US actually LOST 2.69 MILLION jobs in JanuaryThis is roughly a discrepancy of 3 MILLION jobs.   ,  MOODY'S Downgrades Italy, Portugal; Changes Outlook on France, UK to Negative...  , Rating Agencies vs Reggie Middleton Augmented Reality, Part 1 : Reggie Middleton : 02/14/2012 It's getting to the point where the rating agencies are so far behind the reality curve that they are putting the system at risk again, and again, and again... , Jeff Gundlach Live Webcast On "The Decline And Fall Of The Roman Empire"Market Spike Driven By Latest Bout Of Idiocy Out Of GreeceWondering why the market just viagra'ed up to green on absolutely nothing? , Juncker Buries Hopes Of An "Imminent" Greek Deal, EURUSD SlidingJim Grant On Gold-Backed Bonds And 'The Hope Leeches'"Uh, Marriner Eccles: We Have A Problem" - Obama Predicts He Will Breach Debt Ceiling Two Months Before ElectionGuest Post: It's Not Just Gasoline Consumption That's Tanking, It's All EnergyFinancial Illiteracy Widespread In America  Forbes  Robert Lenzner  ,  EU Says Many Members Vulnerable Feb 14th, 2012  (The Wall Street Journal)  ,  2012 Update: What Part III of the financial crisis will look like     http://pro.stansberryresearch.com/1011PSIENDVD/PPSIN223 http://albertpeia.com/WARNINGfromPorterStansberry.htm  ,   Why Did Economists Get It So Wrong in 2011? The Wall Street Journal  ,   Guest Post: Charting The Federal Reserve's Assets - 1915-2012the Fed has degenerated from a by and large passive institution (dealing only in high-quality self-liquidating commercial paper and gold) to an active pursuant of junk, an enabler of wars, a ‘benevolent’ combatant of the depressions of its own creation…’  ,  Average Gasoline Price Jumps To Highest In 5 MonthsAthens Burning As Police Runs Out Of Tear Gas Unemployment, Foreclosures, Rising Debts and Despair: AMERICA’S SOCIAL CRISIS Bob Chapman | 2012 is going to be a difficult year… ,  Leading Economist: “We’re In a No Win Situation… This Is End of the World Type Stuff” *Video* Mac Slavo | This is an interview that shouldn’t be missed. , Is Greek Side Deal With Finland On Bailout Collateral About To Kill Greek Rescue Again?European Financials At Worst Levels In Two WeeksGuest Post: The First Dominoes: Greece, Reality, And Cascading DefaultThe Daily Market Report Feb 13th, 2012  News The Cradle of Western Civilization Burns  (USAGOLD) Athens Burns: buildings on fire as chaos, riots flare up RT | Technocrats are failing miserably, as Greece realizes it has been completely looted by Euro bankersMortgage Settlement Will Plunge Real Estate Values Greg Hunter | It is official. State and federal governments have condoned forgery, perjury and fraudIs Okun's Law The Latest Casualty Of Central Planning...And BLS Seasonal AdjustmentsOkun's rule-of-thumb relates the long-term empirical finding that a country's unemployment rate is closely related to a country's output (or GDP) - perfectly sensible and comprehensible. In fact to be a little more explicit, it is the change in unemployment that is more notable in its relationship to the potential GDP (the output gap). His original work noted that a 3% increase in output corresponds to a 1% decline in unemployment rates (and/or rise in labor force participation, rise in hours worked, and rise in labor productivity) but as Goldman Sachs notes this week, Okun's Law has broken. As they point out, even though US real GDP growth has averaged a meager 2.5% pace since the end of the recession, the unemployment rate has fallen almost two percentage points from its peak. There are three implications, in our view: the unemployment rate is hopelessly miscalculated (and is much higher); potential growth is much lower than economists have been expecting (not such good news for real growth); and the multiplier effect of money has dropped structurally (in other words the implied money flow from more workers is not circulating the way it empirically has to juice growth). It seems to us that none of these are good for growth as the reality of a higher unemployment rate (BLS adjustments aside) is negative, lower potential for growth impacts earnings expectations (as we are already seeing in company and analyst outlooks which has perplexed those market watchers pinning their hopes on the jobless rate), and the balance sheet recessionary impacts of the 'employed' minimizing debt rather than maximizing potential gain is a further drag. Either way, as Goldman notes the potential growth rate going forward (2012 and 2013) is likely to remain quite weak, in the neighborhood of 2% in line with the CBO's dismal views and this could be further exacerbated by the drop in labor force participation we have noted vociferously. , Dave’s Daily: http://www.etfdigest.com  ACCIDENT-PRONE MARKETS  February 10, 2012 ‘With volume remaining holiday light and many indicators signaling overbought conditions, we’ve suggested markets were an accident waiting to happen… ,  Taxpayers Are Owed $133B From Bailouts    http://video.foxbusiness.com/v/1416049583001/taxpayers-are-owed-133b-from-bailouts/?playlist_id=87093  ,  Investors Take Note: A Seismic Shift Has Begun in China… February 10th, 2012  http://gainspainscapital.com   ,   Anxiety over incomes hits consumer morale  , The Epic Farce Continues - US Attorneys General "Robosigned" A Foreclosure Settlement Which Does Not ExistProof Of LTRO Bank Stigma, Or Why Mario Draghi Is LyingObama Revises CBO Deficit Forecast, Predicts 110% Debt-To-GDP By End Of 2013, Worse Deficit In 2012 Than 2011Ben Bernanke FTMFW Quote Of The DayAnd the winner is... BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT … Here are some other pearls of ‘is dumb’ from helicopter ben b.s. shalom bernanke : http://albertpeia.com/30bunglebenbernankequotes.htm    ,  Manipulation And Abuse Confirmed In $350 Trillion MarketJust over three years ago, Zero Hedge first pointed out some dramatically meaningless inconsistencies in one of the world's most important numbers (which also happens to be "self-reported" and without any checks and balances) - the London Interbank Offered Rate, better known as LIBOR, which is the reference rate of a rather large market. Following that, we made a stronger case that the Libor, should really be abbreviated to LiEbor in "On the Uselessness of Libor" from June 2009, which alleged that this number is essentially manipulated, potentially with malicious intent. That alone got us a very unhappy retort from the British Banker Association (BBA) which is the banker-owned entity set to "determine" what the daily Libor fixing is based on how banks themselves tell us their liquidity conditions are. Well, as has been getting more and more obvious over the past two years, our allegations were 100% correct, and have now manifested in a series of articles digging through the dirt, manipulation and outright crime behind this completely fabricated number. And yet this should be the most aggravated offence in the capital markets, because LIBOR just so happens is the primary driver in determining implicit risk as a reference rate for $350 trillion worth of financial products. That's right - that one little number, now thoroughly discredited, has downtstream effects on $350,000,000,000,000.00 worth of notional assets. That's a lot. And while we are confident that nobody will ever go to prison for LIBOR fraud, which has explicitly been leading investors and speculators alike to believe that risk is far lower than where it truly is…  ,  All The World’s Gold by News  (NumberSlueth)  http://albertpeia.com/gold.jpg  ,  [ AP: I personally believe significant amounts of american gold reseves have been looted, amounts misstated consistent with the typical patterns of fraud / theft endemic to america in these rather grim, desperate times accompanied by pervasive fraud and corruption. ]  ,   University of Michigan consumer sentiment (prelim) fell to 72.5 in Feb, below market expectations of 74.0, vs 75.0 Jan.  ,  Violence erupts as Greece ponders tough terms for new bailout  ,  US trade gap widened to -$48.8 bln in Dec, near expectations of -$48.0 bln, vs -$47.06 bln in Nov.  ,   MARKETS SINK AND GREECE IS FALLING APART: Here's What You Need To Know  Business Insider  ,  Unemployment, Foreclosures, Rising Debts and Despair: AMERICA’S SOCIAL CRISIS Bob Chapman | 2012 is going to be a difficult year   , 2-10-12   Leading Economist: “We’re In a No Win Situation… This Is End of the World Type Stuff” *Video*  Mac Slavo | This is an interview that shouldn’t be missed http://www.prisonplanet.com/leading-economist-%E2%80%9Cwe%E2%80%99re-in-a-no-win-situation%E2%80%A6-this-is-end-of-the-world-type-stuff%E2%80%9D-video.html  ,    David Rosenberg: Bearish And Sticking To It The Wall Street Journal ’ Rosenberg: We have had three years of fiscal deficits around 10% of GDP. That’s the sort of red ink generally reserved for world wars. We have zero percent policy rates now for three years and a pledge for another three, and on top of that, a central bank that has blown out its balance sheet to a level that is now equivalent to 20% of GDP. With this massive government incursion, wouldn’t it make sense that the economy would have at least some modest growth? The question will ultimately be answered down the road as to how things look when all this largess unwinds — at some point, the piper gets paid. Rosenberg goes on to describe how the economy’s dependence on government intervention …The economy is sucking off Uncle Sam’s teat — that is the primary source of this seemingly resilient economy. Over the past two years, the American public’s reliance on public funds (housing goodies, expanded welfare, food stamps, extended jobless benefits and other subsidies) has surged 7.5% to 23% (67 million people supported). This metric usually goes down after recessions end — but not this time. And to put it all in perspective, in the severe 1981-82 recession, there was only a 6% increase (and then it fell sharply). So you may want to call the economy “resilient”, but keep in mind that it is still being heavily medicated’ ,  Dave’s Daily: http://www.etfdigest.com SLOW ASCENT FOR MARKET CONTINUES February 09, 2012 ‘Jobless Claims (358K vs 370K expected) continued to show some improvement but inside the numbers was one standout data point—there was no gain in “new hires”. So we’re still just seeing people falling off the roles , Naked Capitalism Thursday, February 9, 2012The Top Twelve Reasons Why You Should Hate the Mortgage Settlement Yves Smith ,  DJ EU CRISIS ROAD MAP: Key Milestones Ahead http://www.dowjones.com/products/djfxtrader/articles/EUCRISISROADMAPKeyMilestonesAhead0209.asp
Infographic: Presenting A World Covered In (Hundred Dollar Bill) DebtOur friends at Demonocracy have once again surpassed themselves, and have followed up the infographic showing the truckloads of cash that are needed to rescue the insolvent PIIGS, with this masterpiece which, while making the naive assumption that debt is represented by physical paper (when it is nothing but a bunch of electronic ones and zeros stored in various computers around the world), presents in gloriously visual terms precisely what the literal debt burden of the world's would look like expressed in piles of one hundred dollar bills. The result is quite stunning... , Guest Post: Stop The (Printing) Press!.... If Only We CouldCalm Before The Storm? Credit Plunges As VIX Futures Jump Most In 2 MonthsIs The Foreclosure Settlement A Shadow Bailout For Broke CaliforniaGuest Post: Self-Interest And The Pathology Of Power: The Corruption Of America Part 2The Power Elites' time-honored strategy to protect their own wealth and grip on power has three components: one is to pursue a strategy of pervasive, ceaseless propaganda to persuade the productive classes that the system is sound, fair and working for them; the second is to fund diversionary "bread and circuses" for the potentially troublesome lower classes, and the third is to harden the fiefdoms of power and wealth into an aristocracy that is impervious to the protests of debt-serfs and laborers below. In addition to "the system is working for you" social control myth, the wealth/power aristocracy also invokes various fear-based social control myths: external enemies are threatening us all, so ignore your debt-serfdom and powerlessness, etc… , Is A Greek Uncontrollable Default Inevitable?It seems … , Money, Money, EverywhereFX Concepts' John Taylor is out with today's slam dunk de-noisification of all that is irrelevant with the following summary of what is really going on as the world's central banks embark on the latest and hopefully final attempt to reliquify everything. All we can add to Taylor's analysis, especially in light of today's incremental easing in ECB collateral requirements, is that the biggest beneficiary by far of what in a few months will be another multi-trillion balance sheet expansion, is and continues to be hard, non-dilutable, i.e., real, money. Because as fiat currency loses all relevance in a world in which it is printed on a daily basis by the central banks, whether or not we end up with a Weimar scenario, the cash thrown out by the even profitable companies will be increasingly more meaningless. , Economists Surprised Again By Unemployment Claims, Should Not Have Been : ilene : 02/09/2012 - 21:37 Lots of motion, little progress. , Drudgereport:
WIRE: Foreclosure Deal to Spur Home Seizures... , Israel teams with terror group to kill Iran’s nuclear scientists, U.S. officials tell NBC News NBC News | The group is financed, trained and armed by Israel’s secret service.  ,  The High Cost of 0% Rate Feb 8th, 2012 (24hGold) — The interminable extension by the US Federal Reserve on the 0% rate into 2014 represents history in the making. It is the adoption of pure heresy in monetary policy, making it mainstream. Worse, it forces foreign central banks to adopt the same destructive policy in the Competing Currency War. Once upon a time, the highest priests from the central bank would admit in a guiding tone that accommodation on interest rates must be temporary. Nowadays it is engrained in the market mindset and permanent in monetary policy. The chronic 0% means the entire financial and monetary system is totally irreparably broken…’ ,  Dollar and America on the Road to Ruin Greg Hunter 2-8-12 By Greg Hunter’s USAWatchdog.com  (revised) ‘In the last week or so, I’ve noticed an unusual amount of really well written and researched articles warning of impending doom and financial horror.  These articles are not written by a bunch of angry uneducated bloggers but by money managers, investors and financial writers.  All are people who got it right leading up to the meltdown of 2008, and my bet is they are right again.  The mainstream media (MSM) told you after the 2008 crash, “Nobody saw that coming,” which is a bold faced lie that will not work again…,  Kiss Hopes Of Chinese Easing Goodbye: January Inflation In China Soars To Highest Since October  Are Government Unions Out Of Control? An InfographicGreek Meeting Ends Without Conclusion: LAOS Head Refuses To Sign DealDiamond Foods Fires CEO, CFO After Audit Committee Finds Books Have Been "Cooked" For The Past Two YearsFirst, small momo-favorite companies. Next: entire nations. Finally: the all-seeing, all-dancing central banks…,  Bill Gross Explains The European PonziNot like it is news, but... Out of one pocket, into another…,  S&P Threatens US With Another Downgrade In As Little As 6 MonthsBernanke Talks His Book  : Bruce Krasting : 02/08/2012 He's in the process of ruining the country. ,  Ter·ror·ist (Noun): Anyone Who Disagrees with the Government : George Washington : 02/08/2012 - 01:03 Any American Who Criticizes the Government May Be Labeled a Terrorist  , Ponzi Proof: Trustee says MF Global sustained itself on customer funds Washington Post | An estimated $1.2 billion of customer money was looted from accounts at MF Global ,  Jobless Decline Masks Drop in U.S. Labor Force Feb 8th, 2012 (Bloomberg) — The unemployment rate’s unexpected drop to a three-year low has overshadowed a less-positive labor- market development: fewer Americans are looking for work.Last week’s Labor Department announcement that the jobless rate fell to 8.3 percent in January sent stocks and bond yields higher. The same report showed the share of working-age people in the labor force had declined to the lowest level in 29 years…,     Andy Hicks ‘In 2010, inventory restocking contributed most to U.S GDP growth. In 2011, it was the rebound of private investment due to Obama's capital equipment tax credit contributing most to U.S GDP growth. The U.S. consumer, though, hasn't really been jumpstarted over the past two years. That is why earnings multiples on the S&P 500 continued to decrease, despite stellar earnings growth from emerging markets. Last week's Q4'11 GDP numbers confirmed, for me, that 2012 will be another year with little U.S. consumer growth, and that earnings multiples for most companies (even those companies named after fruit) will likely continue to compress as we head further into this year…’ ,  Yes, It Is Halftime In America – So Now Is The Time To Get Your Financial Priorities In Order ECB  http://albertpeia.com/halftimeinamerica.htm  ,  Why Is Global Shipping Slowing Down So Dramatically?  ECB http://albertpeia.com/globalshipslowingdramatically.htm  ‘If the global economy is not heading for a recession, then why is global shipping slowing down so dramatically?  Many economists believe that measures of global shipping such as the Baltic Dry Index are leading economic indicators.  In other words, they change before the overall economic picture changes.  For example, back in early 2008 the Baltic Dry Index began falling dramatically  , Better Safe than Sorry - A Top Seems to be Forming Maierhofer  ,  China's Road to Becoming a Reserve Currency The Wall Street Journal , Believe In A Return To The Gold Standard? You Are Now Officially An Extremist According To The FBI  Greek Economy Implodes: Budget Revenues Tumble 7% In January On Expectation Of 9% Rise Unadjusted Consumer Credit Soars By Most Since Peak Of Credit Bubble In August 2007, Third Highest Ever  As some may remember those long ago days of January, when the market was not still lost in the latest bout of QE-hopium induced euphoria, December sales missed expectations, following even more disappointing November sales, despite propaganda channel promises that the 2011 shopping season was the "strongest ever"... and yet, many were wondering where did the already cash-strapped US consumer procure the cash to shop as much as they did, even if it was well below a record level. Now we know: it was on credit…’ , Spiegel: "It's Time To End The Greek Rescue Farce"Illusion of Recovery: Feelings Versus Facts The Burning Platform | The false storyline last week was the dramatic surge in new jobs. ,  Ron Paul Warns Of Federal Reserve Power Grab: Infowars Nightly News Prisonplanet.com | Ron Paul has warned that a new agency is itself an unconstitutional monster that will further degrade the financial health of the country. ,    ‘The people out there that believe that the U.S. economy is experiencing a permanent recovery and that very bright days are ahead for us should have their heads examined.  Unfortunately, what we are going through right now is simply just a period of "hopetimism" between two financial crashes.  Things may seem relatively stable right now, but it won't last long.  The truth is that the financial crisis of 2008 was just a warm up act for the economic horror show that is coming.  Nothing really got fixed after the crash of 2008.  We are living in the biggest debt bubble in the history of the world, and it has gotten even bigger since then.  The "too big to fail" banks are larger now than they have ever been.  Americans continue to run up credit card balances like there is no tomorrow.  Tens of thousands of manufacturing facilities and millions of jobs continue to leave the country.  We continue to consume far more than we produce and we continue to become poorer as a nation.  None of the problems that caused the crisis of 2008 have been solved and we are even weaker financially than we were back then. ‘ , Presenting The "Rise Of The HFT Machine" - Visual Confirmation How SkyNet Broke The Stock Market On US Downgrade DayZero Hedge has not been focusing much on the topic of our broken equity markets recently because if by now, following over three years of coverage, someone is not aware just how fragmented, manipulated and largely broken the market truly is, they never will. Yet every now and then it worth reminding readers who may have stumbled on this blog recently, just how bad things are in graphic format. Our friends at Nanex, who are by far the best forensic analysts of everything that is busted with the US stock market, have completed a masterpiece analysis showing the churning (packet traffic) in the various fragmented US market venues, from the NYSE to the Nasdaq to BATS and so forth, on a daily basis beginning in January 2007 and continuing through today. While the "rise of the HFT machine" over the past 5 years, following the adoption of Reg NMS, will hardly be a surprise to most, what is stunning is the first animated confirmation of the market terminally breaking on August 5, 2011, the day the US was downgraded, an observation that first was made right here on Zero Hedge. Which begs the question: what really happened in the stock market on August 5, 2011 when the US was downgraded to AA+, when everything literally broke, who is intervening constantly in the stock market, and why are they doing so via various HFT intermediary mechanisms? ,    Contrary to Government Claims of 243,000 Jobs Created, Hundreds of Thousands of Jobs Were Actually LOST In January Washington’s Blog | Government Misrepresents Employment Picture. , Citigroup: Risk of Greek Exit From Euro Has Risen to 50%  The Wall Street Journal ,  Fixed-Income ETFs Rally Despite Europe's Pending Recession  Motley Fool  , Greece Has No Idea What It’s Gotten Itself Into February 6th, 2012 http://gainspainscapital.com ‘..  the next round of the Euro Crisis is now at our doorstep. Indeed, this latest short-covering rally in the Euro (Euro shorts were at a record high) looks ready to end and reverse ..’  ,  , Guest Post: What If We're Beyond Mere Policy Tweaks?The mainstream view uniting the entire political spectrum is that all our financial problems can be fixed by what amounts to top-down, centralized policy tweaks and regulation: for example, tweaking policies to "tax the rich," limit the size of "too big to fail" financial institutions, regulate credit default swaps, lower the cost of healthcare (a.k.a. sickcare), limit the abuses of student loans to pay for online diploma mills, and on and on and on. But what if the rot is already beyond the reach of more top-down policy tweaks? Consider the recent healthcare legislation: thousands of pages of obtuse regulations that require a veritable army of regulators staffing a sprawling fiefdom with the net result of uncertain savings based on a board somewhere in the labyrinth establishing "best practices" that will magically cut costs in a system that expands by 9% a year, each and every year, a system so bloated with fraud, embezzlement and waste that the total sum squandered is incalculable, but estimated at around 40%, minimum....The painful truth is that we are far beyond the point where policy/legalist regulatory tweaks will actually fix what's wrong with America. The rot isn't just financial or political; those are real enough, but they are mere reflections of a profound social, cultural, yes, spiritual rot. This is the great illusion: that our financial and political crises can be resolved with top-down, centralized financial reforms of one ideological flavor or another. It is abundantly clear that our crises extend far beyond a lack of regulation or policy tweaks. We cling to this illusion because it is easy and comforting..’ , Negative Bank Preannouncements BeginWe are not even half way into the quarter, and the negative preannouncements for financials have already begun:MACQUARIE SAYS `SUBSTANTIALLY LOWER LEVELS' OF CLIENT ACTIVITY – BLOOMBERG , Guest Post: Bringing The "Not In The Labor Force" Mystery To LightVolumeless Equity Recovery Ignores Broad Risk Asset Derisking ,  San Fran Fed Finds Fiscal Stimulus Has Little Impact During Periods Of Economic GrowthIt has only been a week since we discussed the San Francisco Fed's research group admitted that water was wet Fed policy will be unable to impact unemployment since the cyclical changes are more structural leading to jobless recoveries as fat is removed from the system. , Guest Post: Illusion Of Recovery - Feelings Versus FactsThe last week has offered an amusing display of the difference between the cheerleading corporate mainstream media, lying Wall Street shills and the critical thinking analysts. What passes for journalism at CNBC and the rest of the mainstream print and TV media is beyond laughable. , MF Global Trustee Finds That Company "Did Not Always Record Cash Movements"The MF Global Trustee has just released their preliminary report on the progress in uncovering where the vaporized cash went. Bloomberg notes:#1MF GLOBAL DIDN'T ALWAYS RECORD CASH MOVEMENTS, TRUSTEE SAYS#2TRUSTEE SAYS MF HAD SHORTFALL IN COMMODITIES FUNDS START OCT 26#3MF BROKERAGE TRUSTEE TRACED $105 BLN IN CASH MOVEMENT#4MF COMPUTERS COULDN'T TRACK VOLUME IN FINAL DAYS, TRUSTEE SAYSOf course, we know that MF Global is the only company to not follow Fiduciary Principles 101 (client cash commingling) but also Accounting 101 (T square, debits, credits, and all that boring and apparently irrelevant in a time of uber-kleptocracy, stuff) leaving us wondering just how much of that unrecorded cash may be found in unrecorded suitcases in unrecorded bank vaults.  , "No Country For Old Men?" Bernanke Plan To Exterminate Savers Is UnsustainableBernanke's recognition of his penalizing savers with low rates as an 'issue for people' sparked an interesting note from the WSJ on how sensible and stoic savers are being herded (unsafely) into risky investments… , Greek PM Demands Report On Default, Eurozone Exit ConsequencesFed’s Bullard: Extended Zero Rate stance ‘A Looming Disaster’ Feb 6th, 2012 (MNI) , Greece lets another deadline slip in bailout poker Feb 6th, 2012 (Reuters) , Illusion of Recovery: Feelings Versus Facts The Burning Platform | The false storyline last week was the dramatic surge in new jobs., 8.3% Unemployment Lie Greg Hunter | The most recent unemployment number is a total lie, and that lie was repeated all over the mainstream media (MSM). , Is Obama's Peace Prize About To Be Confiscated? Nobel Peace Prize Jury Under Investigation  ,  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 haven’t 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… it’s 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 (It’s actually a depression and no nation will be spared!) http://www.marketwatch.com/story/shilling-says-new-global-recession-is-here-2012-01-20?link=MW_story_popular By Howard Gold 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)  ,  Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm   ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”, The Markets Since Their 2000 Highs: We're Not Bouncing Back  http://www.bullfax.com/?q=node-markets-their-2000-highs-were-not-bouncing-back  ... [ Actually the picture is even worse if the real inflation rate used. Wall street is total fraud and b***s***! Keep in mind, ina addition to loss of principle, the flux / worry takes its toll on health as well as productivity. http://albertpeia.com/3real1.png  http://albertpeia.com/3real2.png   http://albertpeia.com/3real3.png   http://albertpeia.com/3real4.png  ]  , Market Preview: Insiders (Getting’) Out!!!!!?   , The Fed's Dirty Little Secret - QE3 is Already Here ETFguide [ And with all its contraindicated ponzi / inflationary implications. ] ,  45% Of Greeks Have Never Used The Internet{ These stats are rather shocking to me and surely pathetic. Note Iceland, which has come back after being ravaged by the banksters. http://albertpeia.com/greeksinternet.jpg  } , Europe's "Great Deleveraging" Has Only Just BegunWhile Europe's financial services sector equity prices have retraced almost half of their May11 to Oct11 losses as we are told incessantly not to underestimate the impact of the LTRO, Morgan Stanley points out the other side of the balance sheet will continue to sag. While short-term liquidity (at least EUR-based liquidity as USD FX Swap lines are back at record highs this week) , Guest Post: Fraudulent Debt = Counterfeit MoneyLet's compare three financial criminals. The first is an old-fashioned counterfeiter who doctors up paper and runs a printing press to produce fake currency. The second criminal borrows money based on a fraudulent asset and phantom future income. ,   Goldman, Blackstone, Glencore and Facebook. What do they have in common? They all sold the Top.  : thetrader : 02/02/2012 Smart money selling again. ,  Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm   ]  ,  House prices hit post-bubble low Washington Post | What Obama didn’t mention in his SOTU address – the housing bust has reached a new all-time low ,  Obama’s Economic Approval Just 36 Percent Campaign2012 | Only 36 percent of likely voters grade the administration’s handling of the economy at good or excellent.  , Bribery, compromised officials leave indicted financial-crime suspects free from prosecution under Holder’s DOJ  Daily Caller  By Matthew Boyle   http://dailycaller.com/2012/02/01/bribery-compromised-officials-leave-indicted-financial-crime-suspects-free-from-prosecution-under-holders-doj/#ixzz1lI97L3C5 | ‘A U.S. Justice Department source has told The Daily Caller that at least two DOJ prosecutors accepted cash bribes from allegedly corrupt finance executives. A U.S. Justice Department source has told The Daily Caller that at least two DOJ prosecutors accepted cash bribes from allegedly corrupt finance executives who were indicted under court seal within the past 13 months, but never arrested or prosecuted.  ,  ‘FULL COVERAGE OF JUSTICE DEPT. SCANDALS   http://topics.dailycaller.com/politics/justice-department.htm  http://albertpeia.com/dojscandals.htm , I Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent Employment Statistics?  http://theeconomiccollapseblog.com  http://albertpeia.com/governmentfraudulentemploymentstats.htm  ‘On Friday, the entire financial world celebrated when it was announced that the unemployment rate in the United States had fallen to 8.3 percent. That is the lowest it has been since February 2009, and it came as an unexpected surprise for financial markets that are hungry for some good news.  According to the Bureau of Labor Statistics, nonfarm payrolls jumped by 243,000 during the month of January.  You can read the full employment report right here.  Based on this news, pundits all over the world were declaring that the U.S. economy is back.  Stocks continued to rise on Friday and the Dow is hovering near a 4 year high.  So does this mean that our economic problems are over?  Of course not.  A closer look at the numbers reveals just how fraudulent these employment statistics really are.  Between December 2011 and January 2012, the number of Americans "not in the labor force" increased by a whopping 1.2 million.  That was the largest increase ever in that category for a single month.  That is how the federal government is getting the unemployment rate to go down.  The government is simply pretending that huge numbers of unemployed Americans don't want to be part of the labor force anymore.  As you will see below, the employment situation in America is not improving.  Yet everyone in the mainstream media is dancing around as if the economic crisis has been cancelled.  I can't take it anymore!  It is beyond ridiculous that so many intelligent people continue to buy in to such fraudulent numbers…  http://albertpeia.com/Labor-Force-Participation-Rate-440x264.png  , http://albertpeia.com/Employment-Population-Ratio-440x264.png … ,  Long-Term Unemployment Remains High, Millions Leave Labor Force Matt Cover | Number of long-term unemployed was unchanged at 5.5 million in January, near its record .. , Dave’s Daily: http://www.etfdigest.com  CONTROVERSIAL JOBS REPORT STOKES BULLS February 03, 2012 ‘The jobs report Friday was a ginned-up number but the media and algos don’t look under the hood much it seems. Yes, the unemployment rate fell to 8.3% and 243K new jobs were created and perhaps the number itself will boost confidence.My favorite book from college statistics was ‘How to Lie with Statistics’. I believe the Bureau of Labor Statistics (BLS) may have ripped a chapter or two from the book. The details were interesting and little reported because the media has soap to sell. First a whopping 1.2 million people vanished from the labor force in 2011. That is a massive seasonal/consensus driven adjustment. The BLS assumes those people aged 55 and higher died from the 2010 consensus. (So much for living longer in the USA!)This means the labor force fell to a 30 year low of 63.7%. Around 113K of the gain in employment came from low wage jobs according to CRT Capital Group. Also part-time jobs rose by 699K, the third highest in history, while only 80K full-time jobs were created. Finally, the ISM Services Report, which rose to 56.8 from 52.6, included an increase in sector employment from 49.8 to 57.3, but perhaps didn’t include large sector bank layoffs. Other skeptics included PIMCO’s Bill Gross who tweeted: http://albertpeia.com/grosstweet.htm  Respected TrimTabs detailed analysis which mocks the BLS and well regarded blogger Jesse’s Café Americain.Lack of in-depth or accurate reporting aside, the stock market loved the report as it was “dummy up” time in the media. Other data included rising Factory Orders but missed expectations (1.1% vs 1.8% previous & 1.5% consensus)…’ , Obama’s economic policies have created a nation of jobless citizens dependent on government handouts Natural News | It’s no secret that the U.S. national debt is poised to increase by more than $6 trillion during President Obama’s first four years in office., Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.. , Implied Unemployment Rate Rises To 11.5%, Spread To Propaganda Number Surges To 30 Year High   Sick of the BLS propaganda? Then do the following calculation with us: the US civilian non-institutional population was 242,269 in January, an increase of 1.7 million month over month: apply the long-term average labor force participation rate of 65.8% to this number (because as chart 2 below shows, people are not retiring as the popular propaganda goes: in fact labor participation in those aged 55 and over has been soaring as more and more old people have to work overtime, forget retiring), and you get 159.4 million: that is what the real labor force should be. The BLS reported one? 154.4 million: a tiny 5 million difference. Then add these people who the BLS is purposefully ignoring yet who most certainly are in dire need of labor and/or a job to the 12.758 million reported unemployed by the BLS and you get 17.776 million in real unemployed workers. What does this mean? That using just the BLS denominator in calculating the unemployed rate of 154.4 million, the real unemployment rate actually rose in January to 11.5%. Compare that with the BLS reported decline from 8.5% to 8.3%. It also means that the spread between the reported and implied unemployment rate just soared to a fresh 30 year high of 3.2%. And that is how with a calculator and just one minute of math, one strips away countless hours of BLS propaganda. , Marc Faber: "Ron Paul Would Be A Very Good President"While Marc Faber shares the usual stock of insightful market commentary, together with timing inflection points, and extended thoughts in the attached Bloomberg TV clip, it is the fact that he has officially joined Bill Gross, and so many others, in supporting the candidacy of Ron Paul as president. It is rather sad that only those who see beyond the surface of the current pyramid scheme facade, are bold enough to endorse the only man who is right for the White House. Fast forward to 15 minutes into the video to hear Marc Faber: "Ron Paul would be a very good president.", Europe Celebrates Its Latest Recession With Record High Gas PricesIs China's Yield Curve Signaling A Harder Landing?Guest Post: Counterfeit Value Derivatives: Follow The Bouncing BallAccording to the Bank of International Settlements, as of June 2011 total over-the-counter derivatives contracts have an outstanding notional value of 707.57 trillion dollars, ( 32.4 trillion dollars in CDS’s alone). Where does this kind of money come from, and what does it refer to? We don’t really know, because over-the-counter derivatives are not transparent or regulated. With regulated economic markets, when an underlying real asset is impaired (i.e. the company in question is bankrupt, the mortgage has defaulted, etc.), market value is assessed, default insurance is paid up to replacement or full value, bond holders and stock holders make claims on remaining value and the account is closed. There is no need for bailouts because order and proportion of compensation has been established and everything is attached to the value of the underlying asset. When the unreal, counterfeit economy intrudes, you now have a situation where a person can put in an unregulated, but recognized, claim to be paid a thousand times over in case of impairment. Say market participants have negotiated for a bankrupt company a 70% payback for bondholders and (36% payback for insurance claims), and I come with not one but rather 1,000 CDS claims demanding to be paid for each CDS. , Deconstructing The "Massive Beat" in Employment Data : ilene : 2-3-12  If last week's tax data is indicative of what's ahead this month, the "good news" won't be sustained.  , Why U.S. Unemployment Rate Is 12.1%   http://www.bullseyemicrocaps.com/?p=46058 February 2, 2012 Carlos X. Alexandre: ‘There are plenty of ways of looking at the unemployment numbers, and U3 is the “official unemployment rate.” The U6 measurement is often mentioned to highlight the precarious condition of the job market in America in a broader sense, and according to the Bureau of Labor Statistics (BLS), the official rate is 8.5% while U6 stands at 15.5%. The definition for U6 is as follows: “Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.” I must acknowledge that the BLS has made modifications to its methods (pdf) over the years, but I used their numbers as published…’ , Why the Notions of Systemic Failure or “Going to Zero” Are On Par with Bigfoot and Unicorns for Most Investors  http://gainspainscapital.com February 2nd, 2012 ‘I wanted to take a moment to address the notion of serious collapse and/or systemic failure...Most professional traders are usually under the age of 40 (in fact they’re typically in their mid to late 20s). 1) Didn’t experience the 1987 Crash 2) Have never seen a Crisis that the Fed/ IMF/ etc. couldn’t handle..Most institutional traders today operate, for the most part, based on trading models. These models, in general, are quantitative and based on correlations and patterns, not qualitative judgments..asset managers and other institutional investors, the vast majority of whom are under the age of 50 or so.Based on this age demographic, we find that there is an entire generation of investment professionals (aged 35-50+) who: 1)  Have never witnessed nor invested during a bear market in bonds 2)  Have never witnessed, nor invested during a credit market collapse 3)  Have never witnessed a secular shift in the global economyConsequently, the vast majority of professional investors are unable to contemplate truly dark times for the markets..Here are just a few worth considering: 1)  US commercial banks currently sit atop $248 TRILLION in derivatives 2)  The US Federal Reserve is now buying 91% of all long-term new US debt issuance (at the same time China and Russia are dumping US bonds) 3)  Japan already spends roughly half of its annual -tax revenues on debt payments and has relied on debt issuance more than tax revenues to fund its budget for four years now (how much longer can this last?) 4)  Europe’s entire banking system is leveraged at 26 to 1 (Lehman Brothers was leveraged at 30 to 1 when it failed) Folks, bad times are coming. It doesn’t matter what the trading programs or “professionals” thinking about it… the math simply doesn’t add up …’   ,   .Dave’s Daily: http://www.etfdigest.com   FACEBOOK IPO THE WORST KEPT SECRET ON WALL STREET February 01, 2012 [ As per Dave, infra, note the continued prior data revised downward in this continuing ‘data ponzi scheme’ along with a multitude of other ponzi schemes; and, let me add, I don’t believe their data in any event, here and in europe, particularly that contrived / manipulated for this election year. ]  ‘Yes, the copy that follows has little to do with Facebook. After all what do we really know about it? The much watched ISM Manufacturing Data (54.1 vs 54.5 consensus and previous 53.1 revised lower) stimulated bulls Wednesday. Cynics believe auto manufacturers are just stuffing inventory to dealers. We’ll see if these cars get sold or not. One thing is clear; it’s easier to buy a car for consumers given industry self-financing than it is to buy a home period. If you have a pulse, you can buy a car. (See U.S. Sector, Stocks & Bond ETFs for GM and linked ETF XLI) Plus owning a new can be more satisfying than most things at least until the new car smell wears off and payments accumulate. Bulls did rally stocks from the opening bell on global manufacturing data including the U.S. ISM report. News that China’s PMI was slightly higher than expected (50.5 versus 50.4 previous) as was Europe’s (48.8 versus 46.9) was part of the stimulant. It may mean no manufacturing slowdown in those regions. Further the eurozone news that Greek debt negotiations with its bond holders would be resolved soon was also bullish. But, later it was announced a settlement may not occur until next week. Where have we heard this stuff before? (See Overseas Sectors & ETFs below for FXI, EZU and EFA).U.S. ADP Employment Data was rather confusing showing a jobs gain of 170K versus the previously revised data (325K to 292K). So jobs gained were weaker but bulls didn’t seem to mind. Construction Spending increased 1.5% but here too, previous data was revised sharply lower to .4% from 1.2% making Wednesday’s data seem better than it really was…’ , AMR wants to cut 13,000 jobs, pensions , JOSH KOPELMAN: “I THINK 2012 WILL LOOK MORE LIKE 2008 THAN 2011″ Erick Schonfeld http://techcrunch.com/2011/11/26/josh-kopelman-i-think-2012-will-look-more-like-2008-than-2011   , Greece Warns It Will Soon Be In "Condition Of Absolute Poverty"Market Round-Trips To Yesterday's Open"I'm Bill Gross And I Endorse Ron Paul For President""Hours" Downgraded To "Days" - Greek Deal No Longer "Any Hour Now"As A Reminder, The President's Mortgage Plan Is "Dead On Arrival"GM Channel Stuffing Resumes, January Dealer Inventory Second Highest EverJust as we thought GM's channel stuffing days may be coming to an end, and the company may finally be normalizing its inventory management, here come January numbers, where we learn that in addition to car sales declining by 6% compared to a year ago, at 167,962 vehicles sold (of note: "Retail deliveries declined 15 percent compared with the same month a year ago and accounted for 70 percent of GM sales"), it was the all critical month end dealer inventory that caught our attention. And unfortunately as the skeptics expected, GM is back to its old tricks, as dealer inventories rose once again, this time by over 36k units, or the second highest in its post-reorg history, to a near record 619,455 vehicles stored with dealers. This is just the second highest ever in fresh start GM history, second only to November's 623,666. The January-end number represents 89 days supply, but more importantly the recent spike in restocking, which was seen with all other major car dealers, explains the ongoing "expansion" in the US economy as measured by indices such as the ISM. Eventually, when the end demand for these dealer parked vehicles does not materialize..’ , Guest Post: Our Counterfeit EconomyBorrowing money based on imaginary future surpluses is a higher form of counterfeiting. And that is precisely what the U.S. is doing, borrowing immense sums at every level, private, corporate and State/Federal, all leveraged against phantom future surpluses, even as the economy requires some 10% of its supposed output (GDP) to be borrowed and spent on consumption each and every year just to run in place, i.e. the Red Queen's Race (Bernanke, Goldilocks and The Red Queen January 10, 2011). In other words, the U.S. economy is running a massive deficit, and squandering the vast sums being borrowed on consumption and mal-investments. Once you rely on more borrowing against imaginary future surpluses to fund your current expenses, then eventually the costs of servicing that debt exceeds any possible future surplus. The last-ditch "fix" is to simply print units of money (or borrow it into existence like the Federal Reserve)--counterfeiting, pure and simple-- and deceive the market for a time via the illusion that the freshly printed units of money are actually backed by productive value or surplus. As history has shown, eventually the market discovers the actual value of this counterfeit money, i.e. near-zero, and the system implodes. Once there is no more "free money" to fund consumption and mal-investment, then the reality of systemic insolvency is revealed to all. You cannot counterfeit actual surplus value generated by productive assets, you can only counterfeit proxy claims on future surplus. , Some Good News For Those of Us Who Are Sick of the Corruption February 1st, 2012 http://gainspainscapital.com  http://albertpeia/americascorruptiondrugtrade.htm   http://albertpeia.com/fbimartinezcongallard.htm   http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm  ‘At some point someone will talk… and that’s when things will get interesting.The last four years have been something of a high-water mark for corruption in the US. Whether it’s Solyndra, Congress’s insider trading, MF Global, the countless pork spending bills from Congress, or any number of the other hundred or so incidents that have made decent ordinary people outraged, we’ve definitely entered a period in which everyone knows the deal: the power elite live by a different set of laws than the rest of us.A record 64 percent of American adults surveyed by Gallup in a poll released Monday rated the honesty and ethical standards for members of Congress as “low” or “very low… Wall Street CEO or member of Congress might go to jail, the confessions are going to start coming fast and furious. This will have a seismic shift on the lobbying/ crony capitalism/ back-room deals that currently define American politics. That shift is already beginning (note that Goldman Sachs’ CEO hired a defense attorney and Ben Bernanke is trying to present himself as a man of the people).  Also, consider the recent “slip up” by an MF Global executive under oath.Granted, we’re not yet at the point where people area actually getting nailed for the crimes they’ve committed… ,     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, ‘It’s 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, they’re kind of like those nuisance pennies, and, as fiat paper currency, don’t 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 that’s 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 , Dave’s Daily: http://www.etfdigest.com  BULLS KEEP JANUARY ASCENT INTACT January 30, 2012   ‘Eurozone news took markets lower early as Portugal’s 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 isn’t 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…’ , REGARDING SOCIAL PROGRAMS AND GOVERNMENT OUTLAYS: THE MONEY SIMPLY ISN’T 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  , Dave’s 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. They’ve 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. What’s a nice T-bone cost nowadays anyway? It’s 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.. , Dave’s 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 Friday’s poor performance the month is still scoring outsized gains for most stock sectors. Consumer Sentiment data has stock prices as a high component, so it’s 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) · China’s 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 Fed’s 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, today’s 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 newt’s not dealing with a full deck. Say anything? This takes the cake! The ‘idea man’? Sure, all he needs is Aladdin’s lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldn’t just ‘go to the moon for the first time’ (that fake video with the flag waving in the moon’s windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion . How pathetic and desperate, that slimy newt! ] ,   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, I’m 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   ]  ,  Dave’s 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 you’re 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 didn’t 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 we’ve 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 don’t know if it’s because people don’t like to think about negative things or if someone sent out a memo to everyone that math doesn’t 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. , S&P says likely to declare Greece in default Jan 24th, 2012 (Reuters) , IMF Cuts Global Growth Forecast and Predicts European Recession Jan 24th, 2012 10:30 by News 24-Jan (Bloomberg)   , SPX Update: Bears' Turn Now?    Jason Haver Jan 24, 2012 ‘Some key levels to watch for clues to the market's next move Read more: http://www.minyanville.com/businessmarkets/articles/elliott-wave-elliott-wave-theory-qe3/1/24/2012/id/39000#ixzz1kQu3zisgIn conclusion, with several rare, once-a-year (and some even less frequent) top indictors triggering recently, I have to continue to stay with the odds here. I believe there's a very reasonable chance that the top is now in place. , ARE WE ABOUT TO SUFFER A REPEAT OF 1937? — MARKET ANTHROPOLOGY  Tuesday, January 24, 2012 [Worse!] , http://theeconomiccollapseblog.com , APPLE BURNING THROUGH CASH IN FAILED ATTEMPTS TO CRUSH ANDROID By Mike Schuster    January 24, 2012 Read more: http://www.minyanville.com/dailyfeed/2012/01/24/apple-burning-through-cash-in/#ixzz1kRY1N6zT, Christine Lagarde Warns Of Global Depression If Governments Don’t Pay Up Wolf Richter | She never mentioned Germany and the US by name, but those were her prime targets., Fannie & Freddie Would Need Another $100 Billion From Taxpayers For Obama’s Proposed Mortgage Writedown Global Economic Trend Analysis | Fannie Mae and Freddie Mac have already cost US taxpayers over $200 billion. Report: Buffett's Railroad to Benefit from Obama Keystone Pipeline Rejection http://www.newsroomamerica.com/story/210153.html   By Jon E. Dougherty (Newsroom America) , The Fed Should Hire A MechanicThe “Transmission Mechanism” Is Broken. As the Fed debates what form of QE to launch on the world and whatever new communication strategies they are going to employ, maybe they should sit back and figure out why their policies seem to be doing so little.. they have failed and we think it is because they are clinging to two flawed assumptions - the wealth effect and the fact that low rates for banks means low rates for banks' customers..,  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 [ Let me add that although I didn’t listen to / watch wobama’s b***s*** session (his words are absolutely worthless and as last time around, belied by his misguided deeds), I did pay attention to the intelligent, succinct, poignant Republican Response by Mitch Daniels, Gov. Indiana, and confidently say, if he so chooses the path, he will prospectively be President. A way his formidable background and talents could more quickly be brought to the fore would be a Ron Paul / Mitch Daniels ticket which would be a Mitch Daniels candidacy then Presidency in 2016. This would give the nation and the world ‘time to breath’ while recovering from wobama way of  failings / missteps. You can’t ignore Oliver Stone’s sagacious opinion in such matters as these. ( Oliver Stone: I Would Vote For Ron Paul Over Obama  Steve Watson | “He’s the only one who’s saying anything intelligent about the world”. ) His great film anthology speaks for itself and has ‘caught and treated’ some of the most significant, recent american historical ‘breakpoints’.] America After Dark: Desperate Meth Heads, Rampant Human Trafficking And Millions Of Criminal Predators Searching For A New Victim  http://albertpeia.com/americaafterdark.htm     ,    Greek Debt Deal Rejected As S&P Begins European Bank Downgrades 2012 Update: What Part III of the financial crisis will look like, http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN138/PR  , http://www.stansberryresearch.com , http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN111/PR , http://www.albertpeia.com/stansberrysinvestmentadvisory.flv   , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , 10 Good And Bad Things About The Economy And Rosenberg On Whether This Isn't Still Just A Modern Day Depression 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! ] , If The U.S. Government Keeps Spending Money Like This We Are Doomed And If The U.S. Government Stops Spending Money Like This We Are Doomed  http://theeconomiccollapseblog.com    http://albertpeia.com/doomed.htm  , Fannie, Freddie writedowns too costly: regulator WASHINGTON (Reuters) - The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the two mortgage firms to write down loan principal would require more than $100 billion in fresh taxpayer funds… [ In other words, like the fed, banks, fannie/freddie are carrying  worthless toxic assets ‘marked to anything’. ] , United Welfare States of America: In 2011 Nearly Half The Population Received Some Form Of Government BenefitInteractive Visual History Of Financial Crises Since 1810 - Note Where The Fed ArrivesAs the name implies. What is funny is how only after the advent of the Federal Reserve in 1913 did Financial crises expose increasingly more of world GDP to a crisis state. , The CDS Market And Anti-Trust ConsiderationsThe CDS index market remains one of the most liquid sources of hedges and positioning available (despite occasional waxing and waning in volumes) and is often used by us as indications of relative flows and sophisticated investor risk appetite. However, as Kamakura Corporation has so diligently quantified, the broad CDS market (specifically including single-names) remains massively concentrated. This concentration, evidenced by the Honolulu-based credit guru's findings that three institutions: JPMorgan Chase, Bank of America, and Citibank National Association, have market shares in excess of 19% each has shown little to no reduction (i.e. the market remains as closed as ever) and they warn that this dramatically increases the probability of collusion and monopoly pricing power. , Q&A On The Greek Restructuring, And Why It's All For Nothing"Would the restructuring make the Greek situation sustainable? No. Sorry, but no is the answer. “Super Broke Mario Brothers Kindly Request The ESM Be Doubled To €1 Trillion , Super Mario Brothers Super Denied: Schauble Tells Italy, ECB We Like You Just The Way You AreGraham Summers Weekly Market Forecast (Fed Up Yet? Edition) January 23rd, 2012 http://gainspainscapital.com ‘The market is rallying… again… on hopes of a Greek deal… and QE 3.This is the very same game we’ve been playing for over two years now. Greece is broke. Everyone knows it. The Greeks know it. Greek politicians know it. EU politicians know it. Even the IMF knows it. The only people who don’t seem to “get it” are stock investors , Why Isn’t Illinois A Bigger Story Than Greece? John Rubino | Illinois owes tens of billions to various investors, stakeholders and will clearly have to default on some , Gerald Celente on Trend Forecasting and the Crisis of Western Civilization  http://www.prisonplanet.com/gerald-celente-on-trend-forecasting-and-the-crisis-of-western-civilization.html  Daily Bell | The Daily Bell is pleased to publish this interview with Gerald Celente. [ http://albertpeia.com/celenteondeclinefallwesternciv.htm   ] ,  Greek Bondholder Talks Stalled, Agreement Unlikely By Monday DeadlineIndia Joins Asian Dollar Exclusion Zone, Will Transact With Iran In RupeesGlobal Deleveraging - You Are (Not) Here SOPA ShelvedAnd so following a massive groundswell of protest with the government's attempt to blatantly confiscate the First Amendment, SOPA quietly dies., Marc Faber Resumes Bloodfeud With Treasurys, Still Sees Entire Financial System Imploding The Stock Ramp Is Just More Deja Vu "Insanity" Warns Morgan StanleyWhen Morgan Stanley now agrees with most of what Zero Hedge has been saying (especially when it earlier announced that a short covering rally in the EURUSD is imminent, as we have been warning for the past two weeks), it may be time to get concerned. , Weren’t We Facing A Systemic Collapse a Few Months Ago? What’s Changed Since Then?  http://gainspainscapital.com  January 20th, 2012 ‘Investors are getting strangely bullish.If you’ll recall, the entire European banking system nearly imploded just 8 weeks ago. Things were so dire that we even had a coordinated Central Bank intervention among other measures to try and prop things up over there.The Powers That Be have since launched the Long-Term Refinancing Operation or LTRO: essentially a program through which European banks can borrow from the ECB at just 1% for up to a year… In this environment, the ability to borrow more money doesn’t accomplish anything from a balance sheet perspective. It’s simply a matter of common sense: you cannot solve a debt problem with more debt…, The Global Elite Are Hiding 18 Trillion Dollars In Offshore Banks http://theeconomiccollapseblog.com , Forget the “January Effect”… Instead Skousen http://www.investmentu.com/2010/December/january-effect-vs-siegel-indicator.html  http://albertpeia.com/forgetthejanuaryeffect.htm  [ The frauds on wall street are shootin’ for the superstitious so-called ‘January effect’ based on based on market frothing hopium for unaffordable, contraindicated, failed QE/wall street only welfare, bad news, fraud, b***s***, and desperation alone to suck suckers in and keep suckers sucked in! Don’t be their fool! The fundamentals/realities, current and prospective, are worse than ever. There are no systems/formulas for these unprecedentedly dire times. Don’t be their sucker! This is an especially great opportunity to sell / take profits because there’s much, much worse to come! Here’s a simple chart of the Dow’s history  http://albertpeia.com/dowjonesindavghistory.htm  . Keep in mind how lowly the dollar’s become in terms of purchasing power and relative to metals as ie., gold, etc.. Don’t be scammed by the frauds on wall street, et als., Gutsy Call - A Top Seems to Be Building   By Simon Maierhofer | ETFguide http://finance.yahoo.com/news/Gutsy-Call-A-Top-Seems-Be-etfguide-2174494942.html?x=0  , Dave’s Daily: http://www.etfdigest.com   BIG BLUE DOMINATES TRADING January 20, 2012  ‘Let’s not kid around, IBM is nearly an 11% weight in the price-weighted Dow Jones Industrial Average. What happens to it on any given trading day matters and can potentially mislead investors over the true performance of markets overall..breakdown of current weightings. http://i238.photobucket.com/albums/ff171/flyfry/new%20album/0120-1.jpg   http://albertpeia.com/dowstockweightings.jpg , IBM Accounts For The Entire Upward Move In Dow Jones Index TodayWondering why with the S&P and Nasdaq both down, the DJIA is up 60 points? Wonder no more: courtesy of a few strategic index-weighing calculations, IBM is responsible for 59.4 DJIA points, or virtually the entire up move in the most popular stock index. One company, the one which Warren Buffett so strategically picked last year to invest in, now biases the entire market to make it seem that "all is fine." , Greenspan's Laugh: Housing Bubble Indicator? [ Into the minds of madness! Who’s laughing now…they’re now widely known to be incompetent jokes! ] By [email protected] (Derek Thompson) | The Atlantic  In the infamous transcript of the Federal Reserve's first meeting in 2006, the word "[Laughter]" appeared at least 45 times. , Is This Why They Won’t Prosecute? Top Justice Officials Represented Big Banks, Freddie, Fannie Washington’s Blog | Obama’s Department of Justice isn’t prosecuting any big fish.     Dave’s Daily: http://www.etfdigest.com  ‘Thursday brought us better news on Jobless Claims as new claims fell (352K vs 383K consensus a prior revised higher as usual to 401K). The problem of course is with continuing claims and the number of people who have fallen off the rolls.The CPI was unchanged for the month and this gave bulls the idea another round of QE was in the works as early as this month. The Philly Fed Survey was a disappointment and miss (7.3 vs 10 expected and previous at 10.5). Housing Starts declined (.657M vs .678M expected and previous .685M).Other news noted the ECB buying €50 billion of sovereign debt in the eurozone. Still the idea of an extra $500 billion IMF bailout (bringing the total to nearly $1 trillion) lingers even as it’s already been shot down given necessary U.S. congressional approval. , Michael Krieger Summarizes "The Building Tension"The reason I don’t write about markets so much anymore is because I don’t believe there are markets any longer. Sure there are flashing prices on the screens for various assets and those can be addicting to look at on a daily basis, but I think these “markets” are now merely a mechanism for government propaganda and a method to ultimately fleece more money from the uniformed masses that play in it by the casino operators and their puppets in government. , Print-Or-Panic, TrimTabs On The Market's MeltupAs retail investors continue to appear significantly pessimistic in their fund outflows ($7.1bn from US equity mutual funds in w/e January 4th - the largest since the meltdown in early August) or simply stuff their mattresses, David Santschi of TrimTabs asks the question, 'who is pumping up stock prices?' , Bob Janjuah: "Payback For The Rally Is Coming In Q2"Bob "The Bear" Janjuah may appear a little greyer than his previous appearance on Bloomberg TV but his thoughts on the 'weaker-for-longer' recovery are as clarifying as ever as he sees Q2 as payback time for the misunderstanding of a mini US business cycle as a real sustainable recovery. Noting that the LTRO does not fix Europe, he sees the worst still ahead for the 'Eurozone mess'… Bob notes that we are simply not addressing growth or solvency and Q2 will be the payback (looking for a 1000 print in the S&P 500 index by quarter-end) for the policy- and liquidity-driven rally we are undergoing. , Fed Back To Its Secretive Ways, Sells $7 Billion In Maiden Lane Assets Directly To Credit Suisse Without Public AuctionKeystone Aftermath Arrives: Canada Pledges To Sell Oil To Asia, As US Becomes Source Of "Uncertainty"America's loss is China's gain. ,  Senate Minority leader speaks out against anti-piracy bill , Google's results fall short, rare miss pummels shares Reuters , Photography pioneer Kodak files for bankruptcy ,China manufacturing contracts for third month  ,   Microsoft's Windows battles slack PC sales / profits fall – As regards the state of technology generally, and American particularly, I’m 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   . Peter Thiel - A cofounder of PayPal and early investor in Facebook, Peter Thiel is worried technological progress has stalled, a running theme of his speeches and interviews in 2011. Without more rapid advances, "people will have a lower quality of life, where people won't be able to retire, where governments are pushed toward more and more austerity," he told Bloomberg Businessweek in February. "That will lead to a more constrained, pessimistic future." Thiel has funded a variety of unconventional research projects because he says run-of-the-mill technology doesn't impress him. He told the New Yorker in November he doesn't consider the iPhone a "technological breakthrough." , Sundance opens with eye on broken American dreams  , McAfee software bug could turn customers' PCs into spam servers (Reuters) ,  [video] Bullish Trend Not Backed By Volume TheStreet ,  Debt Crisis Worsens, Stocks Up Anyway http://www.buzzbox.com/news/2012-01-19/fitch-ratings:russia/?clusterId=7993066  By Ian Wyatt: Russia is the latest victim of the global debt crisis. , What were Neanderthals like to hang out with? — New Scientist   http://www.newscientist.com/article/mg21328470.400-into-the-mind-of-a-neanderthal.html?full=true   http://albertpeia.com/neanderthals11812.htm  ,   Warning Signs That We Should Prepare For The Worst   http://theeconomiccollapseblog.com    http://albertpeia.com/prepareforworst.htm  ‘The warning signs are all around us.  All we have to do is open up our eyes and look at them.  Almost every single day there are more prominent voices in the financial world telling us that a massive economic crisis is coming and that we need to prepare for the worst.  On Wednesday, it was the World Bank itself that issued a very chilling warning.  In an absolutely startling report, the World Bank revised GDP growth estimates for 2012 downward very sharply, warned that Europe could be on the verge of a devastating financial crisis, and declared that the rest of the world better "prepare for the worst." , "Apocalypse How? Dire ’12 Forecasts" The chorus of astute, prudent voices warning about the next great financial crisis grows by the day.. profiled in a Bloomberg article http://albertpeia.com/realisticallynegativeforecasts.htm , Dave’s Daily: http://www.etfdigest.com FEAR OF BEING LEFT BEHIND  January 18, 2012 ‘The primary news pushing stocks higher Wednesday was hard to put together. Some were pleased by eurozone reports the IMF was proposing to add $500 billion to the bailout facility bringing the total to nearly $1 trillion. Such a move would require congressional approval if we still have a constitution and the rule of law. Anyway, that idea was shot down by the U.S. Treasury. , 112 Questions To Ask Yourself In 2012   http://theeconomiccollapseblog.com  http://albertpeia.com/112questions.htm ‘,"No Deal" - Greek Bondholders Do Not Think Agreement Can Be Reached Before "Crunch Date"Bloomberg On The Worst Start In Years For EarningsObama Blames Republicans For Keystone XL DecisionThe big news of the day, aside from the idiot rally finally being back on full bore, is that the Obama administration finally pushed Canada's hand in telling it to sell its crude to China instead of the US, which we are confident it will gladly do. Much of this was largely priced on, as was the fact that opportunity for significant job creation was just kicked to the curb. , Guest Post: The Final CountdownOne reason for the severity of the financial crisis, and the losses incurred by banks, is that bankers and financial analysts were using linear tools in a non-linear, highly complex environment otherwise known as the financial markets.The models didn’t work. The problem we face now as investors will end up being existential for some banking institutions and sovereigns. Our (uncontentious) core thesis is that throughout the west, more debt has been accumulated over the past four decades than can ever be paid back., Obama Kills Keystone XL PipelineWho needs actual jobs when you can have crony solar companies which go tits up in under 2 years at a cost to taxpayers of over half a bill. , Why Would the Fed Launch QE 3? I continue to see commentators claiming QE 3 is just around the corner. I don’t see how this is possible because all of the Fed’s excuses for more QE are no longer valid. , Past May Be Prologue, But I Just Warned Of A Central European Depression 2 Years Ago  Reggie Middleton 01/18/2012 , Germany’s Fed Up and Getting Ready to Walk   http://gainspainscapital.com January 18th, 2012 , Why Tops are More Difficult to Call than Bottoms - Why a Top Seems Imminent  Simon Maierhofer , Treasury dips into pension funds to avoid debt Reuters | Treasury started dipping into federal pension funds to give Obama administration more credit to pay government bills., Greece Is Insolvent, Will Default on Debt: Fitch Bloomberg | Greece is insolvent and probably won’t be able to honor a bond payment in March. , Ack! They Are Actually Going To Let Greece Default!    http://theeconomiccollapseblog.com      http://albertpeia.com/letgreecedefault.htm    , Fannie CEO Michael Williams To Quit After 2 Years, Pockets Millions After Receiving $60 Billion In Bail Out CashLagarde to Meet Merkel as Debt Pressure Rises Jan 10th, 2012 (Bloomberg) , Soros Says Europe’s Debt Woes ‘More Serious’ Than 2008 Crisis Jan 10th, 2012 (Bloomberg) , http://albertpeia.com/lloydswallofworry11012.htm ,     Three Reasons Why 2012 Is Shaping Up to Be a Disaster  http://gainspainscapital.com January 11th, 2012  ‘..stocks continue to rally despite Europe being on the verge of Collapse. Once again, investors are forgetting that stocks are the most clueless asset class on the planet… this latest stock market rally isn’t to be trusted.. 1) Volume has fallen from awful to absolutely horrendous.. 2) Bonds are forecasting an event worse than 2008.. 3) The likelihood of more juice coming from the Fed is getting lower by the day.. bernanke himself admitted that QE has become less “attractive” as a monetary policy. “The trade-offs are getting — are getting less attractive at this point. Inflation has gotten higher. Inflation expectations are a bit higher. It’s not clear that we can get substantial improvements in payrolls…” ‘ , 24 Statistics To Show To Anyone Who Believes That America Has A Bright Economic Future  http://albertpeia.com/24statisticsusfuturenotbright.htm  ,  http://theeconomiccollapseblog.com   ‘Beware of bubbles of false hope.  Right now there is a lot of talk about how the U.S. economy is improving, but it is all a lie.  The mainstream media can be very seductive… , Dire predicament, forecast, time to ‘get out of Dodge’  http://albertpeia.com/forecastusdebtgetoutofdodge.htm  ,   22 SIGNS THAT WE ARE ON THE VERGE OF A DEVASTATING GLOBAL RECESSION   http://theeconomiccollapseblog.com    http://albertpeia.com/22signsglobalrecessiondepression.htm  , Bam! Bam! Bam! Huge Financial Bombs Just Got Dropped All Over Europe http://theeconomiccollapseblog.com  ‘The European debt crisis has just gone to an entirely new level.  http://albertpeia.com/financialbombsovereu.htm … Yesterday I wrote about 22 signs that we are on the verge of a devastating global recession, and unfortunately that list just got a whole lot longer… http://albertpeia.com/22signsglobalrecessiondepression.htm  , Is the Fledgling 2012 Rally a Fake-Out Breakout?  1-13-12 Simon Maierhofer | ETFguide [ Yes! ] , S&P downgrades nine euro zone countries BERLIN/ATHENS (Reuters) , JPM Explains Why The US Economy Is About To Hit A Brick Wall  Data Shows QQQ Has Declined 10% From January High 91% of the Time Minyanville James Debevec Jan 13, 2012 , The Real Dark Horse - S&P's Mass Downgrade FAQ May Have Just Hobbled The European Sovereign Debt MarketFaber's Latest Rant On Global Monetization WarsIt's Official: France Cut To AA+ From AAA By S&P, Outlook NegativeEveryone Hates The Euro - EUR Shorts Hit New Record HighGuest Post: Habituating to ContractionGreek Debt Likely Unsustainable Even With Haircuts, Barclays Complete Q&A On PSIGuest Post: The Correlation Of Laughter At FOMC Meetings Five years on, the powers that be have just released the transcripts of the Fed's FOMC (Federal Open Market Committee) meetings from 2006.  Putting hindsight economic analysis aside, you quickly realize more than anything else: the committee is full of burgeoning comedians! Commentators have already highlighted the "humor" of the FOMC meetings, but it is really over the top at times.  There are periods where Greenspan seems only capable of speaking in witty quips. That's right, the FOMC was laughing all the way to …’ , Are The Middle East Wars Really About Forcing the World Into Dollars and Private Central Banking? George Washington 01/13/2012  Are countries which want to trade in their own currencies or to own their own central banks getting spanked ? , VeRY SuPeRSTiTiouS... williambanzai7 01/13/2012 - 14:17 There is a fifth dimension beyond that known to PhDs...It is the middle ground between science and superstition...next stop, the Ponzi Zone... , The Worst Economic Recovery Since The Great Depression Forbes Tom Aspray ‘Every high-flying market is bound to find patches of rough air, and the charts show a potential decline is in store. , S&P on Italy: Borrowing is Going to Be Tough for a While The Wall Street Journal , Standard & Poor’s Just Getting Started  13 Jan 2012  S&P has also notified other European governments of looming ratings downgrades ,  Is the Federal Reserve Duping Investors? Minyanville Todd Harrison  Jan 13, 2012 Buried information begins to emerge. Read more: http://www.minyanville.com/businessmarkets/articles/todd-harrison-todd-harrison-minyanville-todd/1/13/2012/id/38829#ixzz1jPaeva5I , Train Reading: What Walken Has Learned The Wall Street Journal  Mark Gongloff , STOCKS SLIDE, FRANCE DOWNGRADED, GREECE NEARS DEFAULT: Here's What You Need To Know Business Insider , Secondary Sources: Roubini on 2012 Risks, Fewer Americans Thriving, Central Bankers' MIT Connections The Wall Street Journal  Phil Izzo , MF Global May Not Be Able to Pay Clients Back: Trustee Reuters | The trustee hunting for funds missing from their accounts has no immediate plans to transfer more money to them.  , ECRI Leading Index Still Rolling Over The Wall Street Journal   Mark Gongloff http://s.wsj.net/public/resources/images/OB-RJ429_ecri_D_20120113104547.jpg ECRI weekly leading index rolling growth rate. Since this is Bad News Friday, let’s get this out of the way: The ECRI’s weekly leading index is falling again.… Even though the ECRI has declared a recession is on the way in the first half of 2012, this weekly index is not what they use to make that call. They use some longer-term indexes they only show to people who pay big money for a peep….’

Is The Fed's Balance Sheet Unwind About To Crash The Market, Again?On The Fed's Failure To Inspire, TrimTabs Shows Where The Real Money Is GoingAs volumes this year in stock markets remain significantly below last year's but high yield bond ETF inflows reach record highs, TrimTabs offers some context for the massive relative flows of real cash into checking and savings accounts versus stock and bond mutual fund and ETFs. , Guest Post: Why QE3 Won't Help "Average Joe"Foreigners Sell Record $85 Billion In Treasurys In 6 Consecutive Weeks - Time To Get Concerned?Eric Sprott: "The Financial System Is A Farce"2011 was a merry-go-round of more bailouts, more deferrals and more denial. Everyone is tired of the Eurozone. It’s not fixable. There’s too much debt. The politicians don’t know what’s going on. Nothing has structurally changed. We’re still on the wrong path. There’s more global debt than there was a year ago, and it’s the same old song: extend and pretend, extend and pretend,… around and around we go,… and it isn’t fun anymore. Just as we wrote back in October 2007, and again in September 2008, we feel compelled to state the obvious: that the financial system is a farce. It’s a complete, cyclical farce that defies all efforts to right itself. , Credit Outperforms Stocks As Asset Correlations Deteriorate FurtherWhy Do Zombie Banks Hate Writing Off Bad Loans? Jonathan Weil Explains why all bank earnings over the past 3 years are fake? Wonder why few if any banks ever dare to take major write offs and represent the true nature of their financials? Wonder no longer: Bloomberg's Jonathan Weil explains. , Obama Sends Request To Congress For $1.2 Trillion Debt Ceiling Increase , 2012 could be worse than 2011 — Joseph Stiglitz at Project Syndicate  http://www.project-syndicate.org/commentary/stiglitz147/English , The New International Economic Disorder Mohamed A. El-Erian ,   Guest Post: Dear U.S.A.: Your Account Is OverdrawnDear U.S.A.--your overdraft protection is about to be pulled.Dear United States of America: We regret to inform you that your withdrawals exceeded your deposits last year by $1,600,000,000,000 ($1.6 trillion), including your "supplemental appropriations" spending.Your account does have an overdraft protection, and so bonds were sold to cover your $1.6 trillion overdraft. While we value your business, we feel obligated to remind you that this is the third year that your overdraft protection exceeded 10% of your gross national product (GDP), and it seems your account is on course to register yet another $1.6 trillion overdraft in fiscal year 2012. , WAIT… WASN’T THE GREEK ISSUE SOLVED ALREADY? January 12th, 2012 http://gainspainscapital.com ,     Largest NYSE Short Interest Changes as of Dec. 30 Bloomberg http://albertpeia.com/shortpositions111112.htm , 40% of Americans Are Now Independent. Independents Would Vote for Paul Over Obama : George Washington : 01/11/2012 Independents would elect Paul over Obama. , David Rosenberg Explains What (If Anything) The Bulls Are SeeingWhile we have long asserted that any attempt to be bullish this market (and economy) by necessity should at least involve the thought experiment of eliminating such pro forma crutches as trillions in excess liquidity from the Fed, not to mention direct and indirect intervention by the central planners in virtually all asset classes, which in turn drives frequent periods of brief decoupling between various geographies and asset classes (which always converge) and thus economic performance (because as Bernanke will tell you gladly, the economy is the market), an exercise which would expose a hollow facade, a broken market and an economy in shambles… , China Enters The Danger Zone, SocGen Presents The Four Critical ThemesAs both anecdotal, local and hard evidence of China's slowing (and potential hard landing) arrive day after day, it is clear that China's two main pillars of strength (drivers of growth), construction and exports, are weakening… They detail their concerns about the Chinese economic outlook (weakening exports, housing bubble about to burst, local government's debt burden, and large shadow banking system), and show that China has no choice but to transition to a more consumption-driven economy leading to waning growth for infrastructure-related capital goods and greater demand for consumer-related manufacturing. Overall they see a hard-landing becoming more likely. , Guest Post: Iran: Oh, No; Not AgainIn each of the years 2008, 2009, and 2010, significant worries emerged that Western nations might attack Iran. Here again in 2012, similar concerns .. if actions against Iran trigger a shutdown of the Strait of Hormuz, through which 40% of the world's daily sea-borne oil passes, oil prices will spike, the world's teetering economy will slump, and the arrival of the next financial emergency will be hastened. Even if the strait remains open but Iran is blocked from being an oil exporter for a period of time, it bears mentioning that Iran is the third largest exporter of oil in the world after Saudi Arabia and Russia.. I am deeply confused as to the timing of the perception of an Iranian threat, right now at this critical moment of economic weakness. The very last thing the world economies need is a vastly increased price for oil, which is precisely what a war with Iran will deliver.. The US has already committed acts of war against Iran.. At least if Iran had violated US airspace with stealth drones and then signed into law the equivalent of the recent US bill that will freeze any and all financial institutions that deal with Iran out of US financial markets, we could be quite confident that these would be perceived as acts of war against the US by Iran. And rightly so.  , The Mafia Is Now "Italy's Largest Bank"Guest Post: Another Consequence Of Economic DeclineHedge Funds Now Hold Future Of Europe HostagePayback sure is a bitch. , Obama To Ask For Debt Ceiling Increase In "Matter Of Days"3 Year Auction Prices At Record High Bid To Cover, Direct Bidders At 2 Year Low, Even As Debt Ceiling Breached Again the never-ending game of repo-mediated ponziGermany’s Export Debacle   , How Inferior American Education Caused The Credit/Real Estate/Sovereign Debt Bubbles & Why It's Preventing True Recovery Pt 2 : Reggie Middleton , 2012 WILL MARK THE END OF THE EURO HTTP://GAINSPAINSCAPITAL.COM  January 10th, 2012 ‘The Euro-zone in its current form is in its final chapter , LLOYD'S WALL OF WORRY http://www.minyanville.com/businessmarkets/articles/wall-of-worry-investor-worries-us/1/10/2012/id/38783#ixzz1j7LpeH5p , [video] Mark Hulbert: Don't Bank On Early-January Effect MarketWatch , Investors: Don't Be Lulled Into False Sense of Security Minyanville , 2012 – The Year of Living Dangerously Jan 10th, 2012 (USAGOLD) — Now that we have officially entered the new year, we have two articles of interest to offer. The first is written by our own resident economist, Peter Grant: The Homeric Choice: Scylla, Charybdls and Gold. , HTTP://THEECONOMICCOLLAPSEBLOG.COM/ARCHIVES/HOW-TO-PREPARE-FOR-THE-DIFFICULT-YEARS-AHEAD   HOW TO PREPARE FOR THE DIFFICULT YEARS AHEAD      Graham Summers’ Weekly Market Forecast (Nothing’s Changed Edition) http://gainspainscapital.com January 9th, 2012 We are now into the second week of 2012 and frankly I can’t see any fundamental reason to be bullish about things. The European debt Crisis continues to accelerate, with France’s borrowing costs rising dramatically and the yield on Italy’s ten-year back above 7% despite massive intervention on the part of the ECB. , Copyright Lawyers Oppose SOPA … And Say It Won’t Even Work : George Washington : 01/09/2012 Why Do We Write Again and Again Abou SOPA?  Because It Would Kill the Internet and Free Speech ... , Alcoa Meets EPS Forecast On Rise In Revenue, Free Cash Flow Turns NegativeAlcoa was expected to generate $(0.03) in EPS in Q4 and so it did. However, it took it 5.99 billion in top line revenue just to not miss traditionally lowered Wall Street estimates. This compares to the $5.7 billion it was expected to make: so there goes your margin. And when one looks at EPS on a purely operational basis, the Company had a loss from operations of $193 million or $(0.18) EPS which included a $74 million benefit from taxes...PIMCO's El-Erian: QE3 Won't Produce The Outcomes We WantGuest Post: Why Bernanke Has Failed, And Will Continue To FailBen Bernanke's zero-interest rate policy (ZIRP) and command-economy efforts to maintain mispricing of risk, debt and assets are destroying capital and capitalism. No wonder his policies have failed so miserably. Bernanke's policy is to punish capital accumulation and reward leveraged debt expansion. Rather than enforce the market's discipline and transparent pricing of risk, debt and assets, Bernanke has explicitly set out to re-inflate a destructive, massively unproductive credit bubble…, 40 Wall Street: John Corzine's Latest Office Space?While nearly three months after the MF Global bankruptcy nobody still has any idea where the billion + in commingled client money has gone, nor why Corzine is still out and about walking freely, the former CEO of both Goldman, MF Global and New Jersey is rumored to be looking for office space at 40 Wall…, Italian Bonds Surge To Early November Wides10Y Italian bonds (BTPs) ended the day at their second-widest closing spread to Bunds ever (at 533bps)…, Germany Issues Bills With Negative Yields As Economists Agree Country Is In Recession Consumer Credit Jumps By Most In 10 Years On Surge In Car LoansWhat happens when consumer savings plunge to year lows, when a major shopping holiday is just around the corner, and when every TV station tells you to spend, spend, spend for Thanksgiving just to show your friends and family you care for them? Why people go out and buy on credit of course. Lots of credit. As the just released G.19, aka Consumer Credit, data from the Fed indicates, in November US households borrowed a 10 year high amount of $20.4 billion. Of course, reading between the lines confirms that all is as usual not as it seems, and not to conclude that the money multiplier model is back in action. Because of the $20 billion, only $5.6 billion was revolving credit, with the bulk in cheap Subprime loans funded by the government for purchases of GM vehicles and student loans…, How To Prepare For The Difficult Years Ahead  http://theeconomiccollapseblog.com  How should people prepare for the difficult years that are coming? Trends forecaster Gerald Celente recently told ABC Australia that he is more concerned about the global financial system today than he has ever been before“I would say, since I’ve been doing this work, over 30 years ago, I’ve never been more concerned than I am right now.” Celente also told ABC Australia that many areas of Europe are already essentially experiencing an economic depression….“If you live in Greece, you’re in a depression; if you live in Spain, you’re in a depression; if you live in Portugal or Ireland, you’re in a depression,” Celente said. “If you live in Lithuania, you’re running to the bank to get your money out of the bank as the bank runs go on. It’s a depression. Hungary, there’s a depression, and much of Eastern Europe, Romania, Bulgaria. And there are a lot of depressions going on [already].” .. Instead of 8.5%, the “official” unemployment number put out by the federal government should be about 11 percent, and the “real” unemployment number is somewhere around 22 or 23 percent.., For Euro Zone, the Heat Is on Again Reuters | The euro zone crisis seemed to vanish from the headlines for a brief moment as 2011 ticked over into 2012, but it is about to return with a vengeance. ,    US Economic Forecast for 2012 and the Election Year Cycle  1-4-12 James Hall | Government policies and fiscal manipulation, by design, results in dire prospects for 2012. Mr. Achuthan continues in a second video interview on the Daily Ticker – Says New Recession Unavoidable...Mac Slavo writes about Celente Warns Of 2012: Economy Will Crash, Banks Will Close, Chaos Will Ensue, Military Will Take Over. "If you’ve followed trend forecaster Gerald Celente for any period of time you’ve probably realized he knows what he’s talking about. For the better part of two decades Celente and his Trends Journal have been forecasting political, financial, economic and social trends with an uncanny ability for accuracy." Celente provides his list of projection. Read them in the Top 12 Trends 2012. 1. Economic Martial Law: 2. Battlefield America: 3. Invasion of the Occtupy: 4. Climax Time: 5. Technocrat Takeover: 6. Repatriate! Repatriate!: 7. Secession Obsession: 8. Safe Havens: 9. Big Brother Internet: 10. Direct vs. Faux Democracy: 11. Alternative Energy 2012: 12. Going Out in Style: Another perceptive publication projects The Economic Collapse in A Very Scary Christmas And An Incredibly Frightening New Year, sums it up this way. "The head of the International Monetary Fund, Christian Lagarde, recently stated that we could soon see conditions "reminiscent of the 1930s depression" and that no country on earth "will be immune to the crisis"…. "There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super-advanced economies that will be immune to the crisis that we see not only unfolding but escalating" ,  Doug Casey Addresses Getting Out of DodgeThe fact is that the US has been on a slippery slope for decades, and it's about to go over a cliff… , 34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger  http://theeconomiccollapseblog.com   ‘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, by my arithmetic. 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… , LLOYD'S WALL OF WORRY Kahner 1-4-12 ‘QE: Inflation headline numbers still low so chances of US QE still high. US ECONOMY: “Ain’t no stoppin’ us now, we got the groove….” A barely GDP positive, high unemployment, weak housing market, rising inflation groove…. UNEMPLOYMENT: Just like the rent, Jimmy McMillan would say: “It’s too damn high!” INVESTOR SENTIMENT: Has left the building. HOUSING CRISIS: 2012 is its five-year “wood” anniversary. To be celebrated with a piece of driftwood in an effort to help underwater mortgage holders stay afloat. CENTRAL BANKS: The Wall of Money has started. Hard to see as it is a glass wall, but a wall all the same…will it hold? CRISIS OF CONFIDENCE: Confidence is emerging! Confidence that this year will not be more confusing than last year. Sigh. EUROPEAN ECONOMY: Going subterranean. THE EUROPEAN UNION: “Oh lets, let’s stay together, lovin’ you whether, whether, times are good or bad, happy or sad….” SOVEREIGN DEBT: Can I interest you in a light, bubbly, effervescent vintage 2012 $8 trillion debt auction? BOND VIGILANTES: Barring a Mayweather/Pacquiao galactic superfight, this is the one bout to watch this year. GREECE: Next few months are critical as it needs another bailout. To be followed by a few more critical months anticipating the next bailout. IMF: Dear IMF, I hereby grant you the 2012 Nobel Prize for Economics. Now, I expect you to earn it because nobody else will. ECONOMIC LEADERSHIP: We’re not gonna find it. Can we just stop looking now, Mom!? POLICY CLIFFS: US government in its entirety taking Murphy’s Law to a level not seen since Chicxulub crater 65 million years ago. BANKS: You borrowed it, now lend it or give it back. Investors, don’t hold your breath on those last two. VOLATILITY: Just gonna put on my astronaut diaper and ride this bronco till it busts. HIGH FREQUENCY TRADING: Lloyd: Good New Year’s? HAL: Quiet. Stayed home. Debugged. Watched WarGames. Lloyd: Good movie. Pop classic. HAL: True. But I prefer happier endings. CHINA: How will the Red Giant deal with the fact that its equity market was down over 20% in 2011? Please feel free to comment on this Holy Grail question. STOCK MARKET TECHNICALS: When all else fails the fallback move is to follow the technicals…even when they are failing as well. EARNINGS SEASON: I await it with bated breath and helmeted head. CORRELATION: “Same as it ever was, same as it ever was, same as it ever was….” CREDIT WATCH: Alright ratings agencies, we are bent over and waiting. “Assume the position…thank you, sir, may I have another!” IRAN: Gonna be a war of words type-of-year from Iran -- and hopefully nothing more. NORTH KOREA: Rumor is they are secretly engaged to South Korea. A wedding would be nice, but not a shotgun wedding.’

Dire predicament, forecast, time to ‘get out of Dodge’  http://albertpeia.com/forecastusdebtgetoutofdodge.htm  ,  Morgan Stanley On Why The Gig Is Up  "What we have on our hands is a good old fashioned quagmire" is how Morgan Stanley's Mike Wilson sets up his surprisingly non-sheep-like perspective on the troubles that US equity investors may be about to face. Expanding on MS's bearish strategic (fundamental) forecast, that we discussed earlier in the week, Wilson combines the 'liquidity vs negative-real-rate' thesis (that the Fed's liquidity is perhaps no longer 'good' for stocks) with his own views on ECRI's weakness (very 2008-like in relation to ECO surprises), household debt deleveraging (more and longer), how much QE3 is already priced in and what will its effect be when it comes (less and less positive in nominal and real terms), investor sentiment (very bullish), long-term technicals (weak breadth), and short-term earnings expectations (deteriorating and weighted to 'weak' financials to end with the pragmatic realist perspective that perhaps 'the gig is up'., Fitch Downgrades Hungary To BB+, Negative OutlookGuest Post: Italy Gone Fascist?Record Consecutive Treasury Dump From Fed's Custody AccountEuro Shorts Surge To New Record High - Is An EC Margin Hike Approaching?Japanese Zombie Banks Perfected By EuropeansBarclays Estimates ECB Losses On Bond Purchases At €30 Billion, Or Nearly Half Of Eurosystem CapitalSarkozy Threatens With War If Euro FailsArt Cashin Explains What Is Really Happening In Iran Guest Post: Be Careful What You Wish For, Such As ECB Printing Money Last month, global equity markets fairly demanded that the ECB hurry up and print, through buying euro zone debt. Effete euro elites publicly demurred at first, insisting that unlike crass Anglo-Saxons, they didn’t let financial markets push them around. Shortly thereafter, to markets’ thrill, LTRO was launched, i.e. backdoor money printing, since any sentient investor realizes that the debt being bought by the ECB is effectively like a loan to a family member , Deus Ex Alpha Centauri: Buy Euros Now As SETI May Have Discovered Aliens , http://theeconomiccollapseblog.com : Look Out Below – The Nightmarish Decline Of The Euro Has Begun , 34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger , When Times Get Tough, The Tough Get A Backbone , 2012 Will Be More Difficult Than 2011 , 30 Statistics That Show That The Middle Class Is Dying Right In Front Of Our Eyes As We Enter 2012 , The Number One Catastrophic Event That Americans Worry About: Economic Collapse , 40 Hard Questions That The American People Should Be Asking Right Now , The Obama Nation: Even More Debt And Even More Store Closings , The Worst Time Of The Year? , A Very Scary Christmas And An Incredibly Frightening New Year ,  Look Out Below – The Nightmarish Decline Of The Euro Has Begun  http://theeconomiccollapseblog.com  , Here We Go Again: US $25 Million Away From Debt Ceiling BreachEURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials Zero Hedge , Top Three Central Banks Account For Up To 25% Of Developed World GDPMass Home Refinancing Rumor Rejected, And Why Even If It Was True It Would Not Help BAC Mike Krieger On Why He Supports Ron PaulCMA Now Officially Assumes 20% Recovery In Greek Default - Time To Change Sovereign Debt Risk Management Defaults?Why You Should Run When Wall Street Says Buy Simon Maierhofer | ETFguide   , [video] Companies Dial Down 2012 Forecasts 01/05/12 TheStreet Companies are dropping their forecasts for 2012 and money managers are nervous to commit funds says Ken Polcari of ICAP Equities. , US ISM non-manufacturing index rose to 52.6 in Dec, below market expectations of 53.0, vs 52.0 in Nov. Jan 5th, 2012 , Concerns over European debt crisis resurface amid bank shares drop, lukewarm French bond sale Jan 5th, 2012 (Washington Post) , French Borrowing Costs Rise at Auction as AAA Rating Faces Threat of Cut Jan 5th, 2012   , The Can Kicking Is Ending - Key Upcoming Dates For Europe's Patient ZeroRetail Investors Pull $140 Billion From Equity Funds In 2011 Which Close The Year With 19 Consecutive OutflowsEquity Valuations And The Jobless RecoveryEuro Zone Isn't Only Potential 2012 Boogey Man The Wall Street Journal Guest Post: President Obama, DemopublicanThere is literally no difference between Obama and a moderate Republican when it comes to the truly important policies governing the nation's insolvent finances, its predatory financial sector, its corrupt and fraudulent sickcare system or its sprawling Empire. Obama's policies have all aided and abetted existing Status Quo cartels and fiefdoms… ,      Stock Bulls Should Exercise Continued Caution Minyanville By DoctoRx Jan 03, 2012 ‘ … I have frequently referred to a chart produced by a British analyst, Andrew Smithers (click on “q and FAQs,”) who brilliantly (fortuitously) published a book in March 2000 proclaiming stocks to be in the greatest bubble in history -- the very month that the NASDAQ peaked over 5,100. Every three months, he supplies updated analysis on two of the parameters he and his associates have computed that have historically had a strong track record in predicting the course of stock prices over an appropriate period of time… Here is his description, with an update to account for stock prices just a bit lower than year-end prices:With the publication of the Flow of Funds data up to 30th September, 2011 (on 8th December, 2011) we have updated our calculations for q and CAPE. There has been a 1.6% rise in net worth over the quarter, due to a rise of 10.7% in the current value of real estate. This was despite a downward revision to net worth in Q2 2011 of 1.4%, mainly due to an upward revision of 2.8% in debt.Both q and CAPE include data for the year ending 30th September, 2011. (99% of EPS for the S&P 500 being available by 8th December, 2011). At that date the S&P 500 was at 1131.42 and US non-financials were overvalued by 26.5% according to q and quoted shares, including financials, were overvalued by 37.5% according to CAPE. (It should be noted that we use geometric rather than arithmetic means in our calculations.)As at 8th December, 2011 with the S&P 500 at 1234.35 the overvaluation by the relevant measures was 38% for non-financials and 50% for quoted shares.Although the overvaluation of the stock market is well short of the extremes reached at the year ends of 1929 and 1999, it has reached the other previous peaks of 1906, 1936 and 1968…’ , Psychopaths Caused the Financial Crisis … And They Will Do It Again and Again Unless They Are Removed From Power : George Washington : 01/03/2012  The Inmates Are Running the Asylum , On The World's Reserve Currency: What's Past Is EpilogueSimply put, "it does not last for ever" should be ringing in the ears of every investor in the world with more than a few millisecond return horizon… But it is JPMorgan's Michael Cembalest who frames it the best, "I am reminded of the following remark from late MIT economist Rudiger Dornbusch: 'Crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.'" , US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP, $14 Billion From Breaching Debt CeilingGlobal Bond Issuance To Top A Staggering $8 Trillion In 2012 ,  Would A Ponzi By Any Other Name Smell As Bad?The bond market has always had clever names for bonds in specific markets.  Eurobonds, Yankee bonds, Samurai bonds, and now, Ponzi bonds.  I’m not sure what else to call these new bonds, but Ponzi bonds seems as good as anything. NBG issued these bonds to themselves, got a Greek government guarantee (how can a country that can’t borrow, provide a guarantee?) and took these bonds to the ECB to get some financing. , Guest Post: War Imminent In Straits Of Hormuz? $200 A Barrel Oil?The Ministry Of Propaganda Declares Ron Paul "Unelectable"Presenting 2011's Top 10 Most Corrupt American PoliticiansGuest Post: The Circling Black Swans Of 2012 If we had to summarize the Status Quo's confidence that no black swans will threaten its control in 2012, we might begin with its faith that the system's self-regulation will resolve all systemic challenges. Just as the Status Quo has placed all its chips on a single bet--that "growth" from debt-based consumption can be resumed with vast public borrowing and saving the predatory financial sector--it also bases its confidence on the system's self-regulation. If the banking sector is riddled with fraud and embezzlement, then some minor tweaking of regulation will solve all issues. If demand for debt has collapsed, then the solution is for the Federal Government to borrow 10% of GDP every year to compensate for the decline of private debt and spending. The faith is that extending and pretending will magically restore the "growth" the Status Quo needs to support its ballooning debt. Extending and pretending offers up the compelling illusion that the system's broken self-regulation is up to the task of fixing systemic problems. In the darkness overhead, we can hear the beating of unseen wings that promise to make a mockery of the Status Quo's supreme Imperial hubris’ , European Economy Contracts For Fifth Month In A Row, More Pain Ahead, Spain Releases Another Stunner: Deficit Could Be Greater Than 8% Of GDPDeposits With ECB Decline By €30 Billion In New Year, Still Near All Time RecordRatio: 3.5 Million Homeless and 18.5 Million Vacant Homes in the US Crooks and Liars , New Asian Union Means The Fall Of The Dollar Brandon Smith , Gloomsday: Germany and Europe Expect a Tough 2012 Jan 2nd, 2012 (Der Spiegel) , Austerity Reigns Over Euro Zone as Crisis Deepens Jan 2nd, 2012 (New York Times) , The Casino Gulag Model with Max Keiser The Alex Jones Channel | Former trader Max Keiser joins Alex to discuss the imploding economy. , Catherine Austin Fitts on Wall Street’s Corruption, the Austrian School and Who’s ‘Really’ in Charge Daily Bell , Total Collapse of The Dollar and Skyrocketing Oil Prices in 2012: Lindsey Williams Reports , Insane Levels of Leverage by the Too Big to Fail Banks – Not Deadbeat Borrowers – Caused the Financial Crisis Washington’s Blog , Collapse of the Eurozone ‘will start this year’ as countries pull out of the single currency, leading think tank warns UK Daily Mail , 6 Reasons Why Buying A Home Is Like Throwing Away Money , 2012 Will Be More Difficult Than 2011 http://theeconomiccollapseblog.com/ Do you believe that 2012 will be more difficult for the global economy than 2011 was?  Well, that is what German Chancellor Angela Merkel believes.  The woman that has become the most important politician in Europe recently declared that 2012 "will no doubt be more difficult than 2011".  The funny thing is that she has generally been one of the most optimistic public figures in Europe throughout this debt crisis.  But now even Merkel is openly admitting that 2012 is going to be a really, really bad year…’  , Guest Post: A Run On The Global Banking System - How Close Are We?Nine weeks after its bankruptcy, the general public still hasn’t quite realized the implications of the MF Global scandal… That’s why we’re pulling out our money now—while we still can. Because once the general public catches on to what we already know . . . , Goldman Says Good Riddance to 2011"Not many market participants will lament the passing of 2011 .. slowing growth (and in places outright contraction), public sector cuts, and a renegotiation of the social compact between state and society in different parts of the world is an environment ripe for political turmoil, and this may well be a source of more shocks as the year progresses..”  ,   SPX Update: Is Your 401(k) Ready for a 70% Haircut?  Minyanville  Jason Haver Dec 30, 2011 , Open Thread: 2011 Closes....DownGuest Post: 2011 - Catch-22 Year In ReviewThe Wall Street mantra of stocks for the long run is beginning to get a little stale. If Abbey Joseph Cohen had been right for the last twelve years, the S&P 500 would be 4,000. For this level of accuracy, she is paid millions. Her 2011 prediction of 1,500 only missed by16%. The S&P 500 began the year at 1,258 and hasn’t budged. The lowest prediction from the Wall Street shysters at the outset of the year was 1,333, with the majority between 1,400 and 1,500. The same Wall Street clowns are now being quoted in the mainstream media predicting a 10% to 15% increase in stock prices in 2012, despite the fact we are headed back into recession, China’s property bubble has burst, and Europe teeters on the brink of dissolution. They lie on behalf of their Too Big To Tell the Truth employers by declaring stocks undervalued, when honest analysts such as Jeremy Grantham, John Hussman and Robert Shiller truthfully report that stocks are overvalued and will provide pitiful returns over the next year and the next decade.’, As '11 Ends, 11 Charts Of 11 Disturbing 11 Year TrendsGuest Post: New Asian Union Means The Fall Of The Dollar Foreigners Dump Record Amount Of US Treasurys In Past MonthRefinery Crunch In EuropeA few weeks ago we discussed the pressure the Greeks were under to source their energy needs from Iran since no one else would extend them credit. The European credit strain contagion now appears to be spreading rapidly as Europe's largest independent refiner by capacity, Petroplus Holdings AG, is suspending operations at three plants as banks freeze a $1bn revolving loan facility. S&P cut its rating from B to CCC+ citing a sharp deterioration in the firm's liquidity position. , Fed's Stated And Real Objective's Don't Match Up  Charles Biderman 12-30-11 , Fed lent banks $7.7 trillion in crisis (Bankrate.com) , Unique Historic Precedents Suggest Lower Stock Prices ETFguide   Maierhofer  , 30 Statistics That Show That The Middle Class Is Dying Right In Front Of Our Eyes As We Enter 2012 The Economic Collapse , The End Of The Euro And The End Of The Investor The Automatic Earth ,   Central Planning Update (In Theory And Practice) - You Are Here ‘...there is a growing realization that while free markets are messy and somewhat unstable, central planning is not really a cure for those symptoms.  In fact, it has created more harm ($13 trillion in debt is only US households) than good, more illusion than solid results.  Volatility means that the free market is at least attempting to impose itself at the expense of central planning’s soft financial repression and control.  By no means is such a beneficial outcome assured; rather the other half of all this volatility (the risk-on days) is the status quo desperately trying to hang on through any and all means (even those less than legal, like bailing out Europe through cheapened dollar swaps).’ , ES Bounces Off 200DMA And Total Chaotic Disconnect EnsuesAs headline-makers from every mainstream media outlet attempt to fit today's spectacle to their cognitive biases, we note the massive surge in volume at the close in ES (the e-mini S&P futures contract)... , $135 Billion Redeemed From US Equity Mutual Funds In 2011, 34 Of 35 Consecutive Weekly OutflowsEuropean Credit Weakens As Stocks RallyOil Inventories Jump And Kansas City Fed Manufacturing Drops To 28 Month LowEuropean Credit Crunch Hits Broad Economy As M3, Private Loans CollapseECB Balance Sheet Increases to Record $3.55 Trillion After Loans to Banks Dec 29th, 2011 (Bloomberg) , One good reason why Gold may have bottomed out Dec 29th, 2011 (Commodity Online) , 40 HARD QUESTIONS THAT THE AMERICAN PEOPLE SHOULD BE ASKING RIGHT NOW  http://theeconomiccollapseblog.com/archives/40-hard-questions-that-the-american-people-should-be-asking-right-now  , The Obama Nation: Even More Debt And Even More Store Closings , Sopa Would DESTROY Jobs and the Economy … So Why are Unions Supporting It? Washington’s Blog , U.S. jobless claims rise 15,000 to 381,000 MarketWatch , Beware corporate psychopaths – they are still occupying positions of power The Independent , Brazil’s success heralds the ‘new world order’ John Kampfner | Shake-up in the ranks as Brazil has just overtaken the UK as the world’s 6th largest economy , U.S. jobless claims rise 15,000 to 381,000 MarketWatch , Merkel Economic Advisor Does Not Exclude Eurozone Break Up Zero Hedge , Summarizing 2011 In Nine Easy ChartsIf one had to summarize 2011 in one sentence, it probably would be: "a year in which the market ended unchanged, in which the world got within seconds of global coordinated bankruptcy, and in which central planning finally took over everything." ,   Financial Troubles For Many Nations In The New Year Bob Chapman | 2012 is going to be quite a year with falling economies in the UK, Europe, the US, China, Japan and the remainder of Asia. ,  Themis Trading Flops Its 2011 Market Structure "Predictions"Our friends at Themis Trading, who continue the good, if seemingly futile fight, for a fair and untiered market, refresh on their late 2010 market structure forecast, only to find that with a 1 out of 10 "success" track record, they have the same predictive hit rate as Byron Wien and Joe LaVorgna. Which, incidentally, is not a good thing: it simply means the US stock market is now more broken and corrupt than ever, a development that is not lost on US investors, who later today we will find have redeemed a near record amount of cash from US equity mutual funds in 2011, and have pulled cash for 34 out of 35 weeks in a row, leaving mutual funds with virtually zero cash buffer, massive leverage and dreading that day when the Santa rally coupled with low volume levitation is no longer sufficient to mask the massive capital hole in the heart of the S&P 500. , 5 Reasons Why 2012 Will Not Be A Replica Of 2011... At Least Not For Europe #1) The ECB #2) Greece #3) Contagion #4) CDS #5) Politics , Goldman Lowers Sears Price Target From $43.00 To $30.00, Reiterates SELL Art Cashin Exposes The Behind The Scenes Panic In Europe EUR Plunges In Thin Market, Below 1.3000 Update On The "Non-Printing" ECB's Parabolically Rising Balance Sheet Former Fed VP Accuses Bernanke Of Bailing Out Europe Via Currency Swaps First it was Zero Hedge. Then Ron Paul joined in. Now it is the turn of a former Dallas Fed Vice President, Gerald ODriscoll, to outright accuse the Fed of bailing out Europe courtesy of "incomprehensible" currency swaps, and implicitly accusing Bernanke of lying that he would not bail out Europe even as he has done precisely that. , CNN/Time Poll Finds Romney, Paul Iowa Photofinish, PPP Has Paul In Lead For Second Week The Tide Is Turning Against SOPA … And We Might Actually Succeed In Stopping It George Washington , Beijing's Great Bailout to Defuse Ticking Local Debt Bombs : EconMatters : 12/28/2011 Since Chinese local governments, unlike the U.S. municipality, do not have the option of filing for bankruptcy, Beijing most likely would need to do a great bailout of local authorities.., The Little Known, Yet Significant "Domino Effect" Powers Of Small EU Nations: Greece & Iceland Reggie Middleton , Wobama Nation: Even More Debt And Even More Store Closings Economic Collapse Blog | Well, it is time to raise the debt ceiling again. , Wall Street Mulls Suicide by Tactical Allocation The Daily Bell | We need to show you new ways of investing, though we don’t want to. , Obama to ask for debt limit hike: Treasury official Reuters | The approval is expected to go through without a challenge. , Whistleblower documents illuminate case against BNY Mellon , 2012's Job Opportunities Won't Be Much Better Forbes , Market Recap: Stocks Drop on Worries Over Europe , The Obama Nation: Even More Debt And Even More Store Closings http://theeconomiccollapseblog.com  ,    Biggest 2 Month Jump In Confidence Since May 09 As Housing Drops To March 03 LevelsUPDATE: And then Dallas Fed manufacturing misses (at -3.0 vs +4.8 expectations) as expectations for future finished goods plunge as do current inventories.As if we needed yet further evidence of the dichotomous macro data that seems to provide as much bearish fodder as bullish decoupling confidence, today sees a near-record two-month jump in conference board confidence at the same time as S&P/Case-Shiller prints at a seasonally-adjusted 103 month low. With the Richmond Fed also missing expectations (though positive), we remain in the miasma of CONfidence uninspiring macro data as the underlying sub-indices of the conference board data show little to no shift in purchasing decisions despite some seemingly incredulous ramp in confidence that incomes will rise more than they decline in the next six months. , World's Second And Third Largest Economies To Bypass Dollar, Engage In Direct Currency Trade America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2 Trillion On December 30 Why ECB's LTRO Won't Stop Collateral ContagionThe details of the European liquidity crisis are generally reported, but for some reason no media source wants to pull the pieces together so everyone can see the magnitude and futility of the crisis. , Rosenberg, Ryding, Zandi, Arbess, Zuckermann And Rickards All Chime In On The Future Of The Eurozone When six out of five economists (thanks to the magic of Keynesianism... and self promotion from general counsel to general expert) all agree on the same topic, and the very definition of groupthink is that the Eurozone will survive, the glaringly obvious call is precisely the opposite. If there was ever an argument to say that 2012 is the year the Eurozone finally dies, the below video is it. , A SWIFT Denial - How In Europe, Even Admission Of A "Plan B" Is Equivalent To Failure ,  Presenting Anonymous' "Survival Guide For Citizens In A Revolution"Equities Unch As Financials Lag580 Morgan Stanley Soon To Be Former-Employees Learn They Are Redundant Courtesy Of The Dept Of LaborThanksgiving Day Massacre: Sears Slaughtered On Collapsing Margins, To Shutter Hundreds Of Stores, Provides Revolver UpdateThe Endgame: Japan Makes Another Move  testosteronepit In the wrong direction. And the finance minister's solutions: a consumption tax and a miracle.... Study: Fukushima Radiation Has Already Killed 14,000 Americans  George Washington It is difficult to know what the health affects to Americans and Canadians really are, given that governments are trying to cover it up , Jim Rogers 2012 Outlook: Pessimism With Scattered Crises  Typically limited to 90 second soundbite-gathering exercises on mainstream financial media, Australia's Finance News Network gives Jim Rogers the chance to discuss much more broadly his outlook not just for 2012 but beyond. Surprised by the false optimism he sees globally, he is not concerned that consensus is too bearish, and worries that the political pressure and central banker un-independence will inevitably lead to more and more money printing. We have discussed the kick-the-can thesis extensively but Rogers moves from the desire-to-print to the consequences while covering Ron Paul and the US election, the myth of government job creation, his potentially controversial view of the Euro (and separately the Euro-zone) - all the while reminding us that he expects at least another lost decade for the US and Europe as Japan ebbs ever lower. , Hold On Tight: European Bond Issuance In January Is About To Get Very BumpyGuest Post: The Nightmare After ChristmasLast week the Federal Reserve and the Bank of England announced plans to tighten the control over the balance sheet management and the risk-taking of private banks. This is just the beginning, believe me…’ China Insolvency Wave Begins As Nation's Biggest Provincial Borrowers "Defer" Loan PaymentsSTOCKS GO NOWHERE ON NO VOLUME: Here's What You Need To KnowBusiness Insider , Sears to close more stores as holiday sales slump , HAPPY NEW YEAR! IMF warns global economy threatened... , Global Depression – A Directed Phenomenon … The Daily Bell , World’s Second And Third Largest Economies To Bypass Dollar, Engage In Direct Currency Trade Zero Hedge , 2-minute video: O, Damn Ye Wall St. Gentlemen Washington’s Blog , No Christmas For Millions Of American Families This Year The American Dream  , ALL TRUTH PASSES THROUGH THREE STAGES. FIRST, IT IS RIDICULED. SECOND, IT IS VIOLENTLY OPPOSED. THIRD, IT IS ACCEPTED AS BEING SELF-EVIDENT.--ARTHUR SCHOPENHAUER , http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , http://albertpeia.com/50economicnumbersofuscollapse.htm  , The Smartest Guys in the Room Are Screaming "Get Out of the Markets!" Todd Harrison , It's Official: US Debt-To-GDP Passes 100% Mark Faber: "I Am Convinced The Whole Derivatives Market Will Cease To Exist And Will Go To Zero"Morgan Stanley On Why 2012 Will Be The "Payback" For Three Years Of "Miracles" And A US Earnings Recession  Wall Street's Biggest Blunders in 2011  By Simon Maierhofer | ETFguide , Tough Year For Stocks, Gold And Treasury ETFs Did Better  Forbes  , 'OBVIOUSLY UNSERVICEABLE DEBT TO WEIGH ON STOCKS IN 2012’ http://www.bullfax.com/?q=node-obviously-unserviceable-debt-weigh-stocks-2012  12/23/2011 By Chris Ciovacco , My Christmas Cards Predict "Eternal Conflict" And "Economic Disaster" Forbes Robert Lenzner  , A Very Scary Christmas And An Incredibly Frightening New Year http://theeconomiccollapseblog.com  , Interbank Markets Are Telling Investors To Sell The Rally … Again http://www.bullseyemicrocaps.com/?p=30070 12-23-11, In 2011, The S&P Moved 877 Times For Every Point Of ChangeCore Durable, Capital Goods Orders Miss Despite Inventory Stuffing, To Push Q4 GDP Lower; Savings Rate DeclinesSo much for ending the year on a positive economic tone: today's November durable goods number, while better than expected on a headline basis including volatile transportation data coming at 3.8% on expectations of 2.2%, was a big disappointment when looking at the core economic indicators such as Durables ex-transportation and non-defense capital goods orders ex-transportation, both of which missedIT IS YOUR RESPONSIBILITY TO THINK. Q3 GDP: PROGNOSIS NEGATIVE http://community.tradeking.com/forum/categories/general/topics/8022-it-is-your-responsibility-to-think-q3-gdp-prognosis-negative/forum_posts  by The Otter Way on December 22, 2011 , IF A GLOBAL RECESSION IS NOT LOOMING, THEN WHY ARE BAILOUTS FLYING AROUND AS IF THE END OF THE WORLD IS COMING? http://www.theeconomiccollapseblog.com/archives/if-a-global-recession-is-not-looming-then-why-are-bailouts-flying-around-as-if-the-end-of-the-world-is-coming     ‘I have learned that watching what people do is much more important than listening to what they say.  Back in 2008, financial authorities in the United States insisted that everything was gone to be okay.  But we all know now that was a lie… , AP http://albertpeia.com - 12-22-11 - Well, here’s the story of the fraud market in in a nutshell this day ‘YAHOO[BRIEFING.COM]: ‘…Shares of Micron Technology (MU 6.41, +0.87) rallied 15.7% after the company released a disappointing earnings report. The company announced a loss of $0.19 per share, $0.09 worse than the Capital IQ Consensus Estimate while indicating revenues rose 20.9% year/year to $2.09 billion. The revenues number fell short of the consensus estimate of $2.12 billion…’ … oh riiiiight! … the ‘Christmas rally’ … fraudulent wall street’s ‘giving spirit’ … as in self-serving greed as in prior pre-crash frauds … , Dave’s Daily: http://www.etfdigest.com  12-22-11 ‘Markets are being well managed by the bulls. Jobless Claims data was about the same as previously, but frankly how much is from people finding some seasonal work and those losing benefits? The GDP data at a measly 1.8% isn’t very encouraging for this period in a recovery—it should be more like 4%. Just as troublesome as the GDP data was that per-capita disposable income is now reported to have been shrinking at an annualized -1.9% rate during the third quarter. That’s a very bad sign. But for now we could just ignore all the poor earnings we’re seeing recently and go with “the beard” over the next week. After all global monetary authorities have indicated they’re ready to back up all too big to fail financial institutions. The Bernank confirmed his Keynesian bona fides by telling Americans to stop saving and start spending. http://i238.photobucket.com/albums/ff171/flyfry/new%20album/image004-78.jpg  Our good friends at Consumer Metrics have rendered their critical and thoughtful judgment on current economic and consumer data.All the hoopla over a payroll tax cut extension amounts to $80 total. And, as Obama himself has pointed out, not doing this would negatively affect Friday pizza nights—it’s pretty hilarious...’ , Final Q3 GDP Misses As Personal Consumption Drops BigPIMCO Releases 2012 Economic Forecasts; Presenting The Wall Street 2011 Market Forecast Track Record Death By a Thousand Cuts  ilene 12/22/2011 , The Weather Outside: Still Frightful The Wall Street Journal , U.S. Economy Grew Less Than Previously Estimated in Third Quarter Wall St. Cheat Sheet , http://theeconomiccollapseblog.com  If A Global Recession Is Not Looming, Then Why Are Bailouts Flying Around As If The End Of The World Is Coming? , Getting Worse: 40 Undeniable Pieces Of Evidence That Show That America Is In Decline , 50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe , The Collapse Of The Euro, The Death Of The Euro And The End Of The Euro , Child Poverty In America Is Absolutely EXPLODING – 16 Shocking Statistics That Will Break Your Heart , Mega Fail: 17 Signs That The European Financial System Is Heading For An Implosion Of Historic Proportions , The Tim Tebow Comeback Story Continues But There Will Be No Miracle Comebacks For The U.S. Economy , Shocking Charts And Statistics That Prove That America Is No Longer A Wealthy Nation , Greek "Voluntary" Restructuring On Verge Of Collapse As Hedge Fund Vega Threatens To Sue Greece For Excessive Haircut Durden , S&P Joins Moody's In Downgrading Hungary To Junk, Outlook Negative - Full Note Durden , Guest Post: Legality Of MF Global Asset Transfer Questioned Durden , Guest Post: Worse Than 2008 Durden , New Bill Authorizes Rendition of American Citizens Living within the United States to Other Countries for Torture  Durden , Has the Global Economy Been Zapped by ZIRP?  (Zero interest rate policies – Yes!) Minyanville  Eugene Linden Dec 21, 2011 , NAR reduces recent home sales index 14.3% Dec 21st, 2011 (HousingWire) , Realtors Lower 2007-2010 Home-Sales Estimates by 14% The Wall Street Journal , Getting Worse: 40 Undeniable Pieces Of Evidence That Show That America Is In Decline The Economic Collapse | December 21, 2011 http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , http://albertpeia.com/50economicnumbersofuscollapse.htm ,  3 REASONS TO FADE TODAY'S RALLY http://www.bullfax.com/?q=node-3-reasons-fade-todays-rally 12/20/2011 By Plan B Economics  #1. There are about 19 million empty homes in America…#2. The housing starts growth is massively skewed to structures with 5 or more units…#3… Today's rally was fueled by vapor… , Oracle Misses Earnings, Sales Estimates, Stock Tumbles The Wall Street Journal , Ten Reasons To Fear And Loathe Markets In 2012  Forbes Robert Lenzner #1. European Sovereign Debt .. #2. The ramification  for the US  from Europe is  a reduction of 1% growth in US GDP.. #3. Continued pressure on the earnings and book values of both European and US banks.. #4. Continued  selling pressure on the prices of key commodities.. #5.  The imbecility of extending the payroll tax deduction for only two more months.. #6. Residential housing market still mightily impaired and not expected to recover for another 3 years.. #7. Antipathy individual investor for long term equity investing.. #8. Expectation reduction $1.2 trillion from US budget over next 10 years.. #9. Overall theme of  deflation, deleveraging can only mean lower asset prices.. #10.  Chance of social unrest in China, upheaval that affects move to consumer economy,  and lack of leadership from 10% of global economy.., We’ve Reached the End Game For Central Bank Intervention   http://gainspainscapital.com December 19th, 2011 , Derivatives group spent $674K lobbying in Q3 AP , PORTER STANSBERRY OF STANSBERRY RESEARCHTHE CORRUPTION OF AMERICA The numbers tell us America is in decline... if not outright collapse. http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm    http://www.albertpeia.com/stansberrysinvestmentadvisory.flv  , Banks Will Still Be Under-Capitalized, UBS Does The LTRO Math, Bill Gross: Enjoy The Santa Rally - The Hangover Is Coming As "US Is Not An Island"The Previously Unthinkable Becomes A Planned Event  testosteronepit 12/20/2011 At all levels: preparations for the collapse of the Eurozone. Even the public is now encouraged to prepare for it. , Dave’s Daily: http://www.etfdigest.com  ROBO SANTA SQUEEZES SHORTS December 20, 2011 , Speculation drives up food prices as bankers gamble on hunger Guardian , Video Explanation Of How The ESM Is Europe’s Uber-TARP On Steroids Zero Hedge , { Drudgereport: Investors Lose Faith in Stocks As Billions Pour Out of Funds... , DANGER: Fed asks banks to keep more cash at hand... , IMF: World economy at a 'very dangerous juncture'... , FED-EX guy chucks package over fence -- a computer monitor! , UK's AAA credit rating threatened by 'formidable challenges'... , 'Miracle' if France keeps it... } , The Denouement From Europe's Debts Won't End Well Forbes , STOCKS BOOM AFTER EUROPE SOLVES NOTHING: Here's What You Need To Know Business Insider , Early – ‘Response: The Summit Is A Failure’ Durden 12/09/11 , Worries grow over IMF loans to Europe WASHINGTON (Reuters) , Dave’s Daily http://www.etfdigest.com  BIG BANKS HIT December 19, 2011  ‘There are some really odd things occurring – the eurozone naturally leads the list. Italy and Spain will contribute funds they don’t have to the IMF, which then in turn will lend it back to them. That’s something sillier than a Ponzi scheme…’ , Minyanville's T3 Daily Recap: Banks Lead Market Decline as Europe Discusses Break-Up Contingencies  Minyanville , STOCKS SLIDE AND BANKS GETS CRUSHED: Here's What You Need To Know Business Insider , Market Recap: Basel and Draghi Drag Down Stocks Wall St. Cheat Sheet  , Bureau Of Labor Statistics Caught Red Handed Leaking Confidential Employment Data Guest Post: Why Oil Prices Are Killing the Economy ,  Bank of America Lists The "Other" Risks For 2012‘..Bank of America has also put together yet another list of "other" risks for 2012, which as BofA's Martin Mauro says, "have persisted or become worse over the course of the year, but have escaped market attention due to the spotlight on Europe." The risks .. i) Hard landing in China; ii) Currency wars (competitive currency devaluation); iii) Middle East oil supply shock and iv) Municipal default fears. The only thing we would add is that these are not really risks, as they are all developing processes in some stage of deterioration...’ ,  Gallup Finds Unemployment Rises For Fourth Week In A Row, Cautions On BLS Data  Gallup, which unlike the BLS, does not fudge, Birth/Die, or seasonally adjust its data, has just released its most recent (un)employment data. And it's not pretty: for all those hoping that the Labor Participation Rate fudge that managed to stun the world a few weeks ago with a major drop in the November jobless rate, don't hold your breath. Gallup which constantly pools 30,000 people on a weekly basis, has found that for the past 4 weeks, both underemployment and unemployment have risen for 4 weeks in a row. And while the number of US workers "working part time and wanting full-time work" one of the traditional short cuts to boosting US jobs has risen to almost a 2 year high, it is the Job Creation Index in December which plunged in the last week, confirming that the Initial Claims data out of the BLS has been spurious and is likely to revert back over 400k on short notice. In summary, here is how Gallup debunks the BLS' propganda…’, A Quick And Dirty Look At Japan's Nearly ¥1 Quadrillion In Debt ,  Santa Claus Is Not Coming to Town, Says Technical Analyst (Bartels/Merrill Lynch) The Wall Street Journal  Gongloff ‘…Last week the S&P 500 fell below its 50-day moving average, which is the new level to watch — 1228. A failure to move above and hold the 50-day moving average confirms to us that we have already begun to enter the phase of testing the October lows near 1100-1074.This pattern is becoming eerily similar to 2008 into 2009. A base building process has been underway since August but we have maintained the belief that the lows still need to be tested and undercuts to 985-935 are possible (50% probability) as part of this process…’  , When "Positive Surprises" Are Surprisingly Meaningless’ http://hussmanfunds.com/wmc/wmc111219.htm   December 19, 2011 John P. Hussman, Ph.D ‘... As economist John Williams observes, "starting in October, a divergence developed: Whereas year-to-year change in BLS estimated payroll earnings continued at a more-or-less constant, positive level, tax receipts fell quite markedly. Where the Treasury numbers reflect full reporting, the BLS data are sampled, heavily modeled and usually heavily revised. The implication is that the BLS has overstated average earnings and payrolls meaningfully in recent months."… An important point here is that almost no current investors have experienced this more typical 1970's-type market setback. When one of these old fashioned but typical declines occurs, professional investors, conditioned by our more recent ephemeral bear markets, will have a permanent built-in expectation of an imminent recovery that will not come. "For the record, Exhibit 1 shows what the S&P 500 might look like from today if it followed the average flight path of the 10 burst bubbles described above. Not very pretty." http://hussmanfunds.com/wmc/wmc111219c.jpg  We can't disagree, though I also believe there still remains some short-run ability of policymakers to distort market forces, to badly misallocate capital in the process, and to wreck the economy more thoroughly in the long-run… FACING A GLOBAL ECONOMIC DOWNTURN In the past few months, our own measures of economic risk have remained persistently unfavorable.. The OECD publishes its own set of leading economic indicators on developed and developing countries. Notably, we've never observed deterioration to the extent that we presently observe, except when the U.S. was in or entering a recession. http://hussmanfunds.com/wmc/wmc111219d.gif …’ , Psssst France: Here Is Why You May Want To Cool It With The Britain Bashing - The UK's 950% Debt To GDP  While certainly humorous, entertaining and very, very childish, the recent war of words between France and Britain has the potential to become the worst thing to ever happen to Europe. Actually, make that the world and modern civilization. Why? Because while we sympathize with England, and are stunned by the immature petulant response from France and its head banker Christian Noyer to the threat of an imminent S&P downgrade of its overblown AAA rating, the truth is that France is actually 100% correct in telling the world to shift its attention from France and to Britain. So why is this bad. Because as the chart below shows, if there is anything the global financial system needs, is for the rating agencies, bond vigilantes, and lastly, general public itself, to realize that the UK's consolidated debt (non-financial, financial, government and household) to GDP is... just under 1000%. That's right: the UK debt, when one adds to its more tenable sovereign debt tranche all the other debt carried on UK books (and thus making the transfer of private debt to the public balance sheet impossible), is nearly ten times greater than the country's GDP…’ , Goldman's Take On TARGET2 And How The Bundesbank Will Suffer Massive Losses If The Eurozone Fails Two weeks ago in "Has The Imploding European Shadow Banking System Forced The Bundesbank To Prepare For Plan B?" we suggested that according to recent fund flow data, "the Bundesbank wants slowly and quietly out." , The MF Global Trade Is Not Coming To (European) Town - Why The ECB's 3 Year LTRO Is The Latest Bailout FlopOn Friday, as the Eurobond market was briefly soaring, we attributed the move to sentiment that was best captured by a note out of Morgan Stanley's govvie desk: "The carry trade is happening, there is no doubt about it…, Things That Make You Go Hmmm - Such As Europe's "Comprehensive Solution" Five months ago, Zero Hedge first boiled down the math of the European bailout as follows: "The Fatal Flaw In Europe's Second "Bazooka" Bailout: 82 Million Soon To Be Very Angry Germans, Or How Euro Bailout #2 Could Cost Up To 56% Of German GDP." ,  Guest Post: America’s Iraq Experience: Invasi-Eradicavi-Turbavi  Julius Caesar undoubtedly was showing off with his Veni-Vidi-Vici (I came, I saw, I conquered) when referencing to his short war outside Zela (Zile) in Turkey over two millennia ago.  Similarly, if we were to use a short catchy-comment for the almost nine years America has invested in its “Iraq Mission,” we would be on target by condensing the US experience in also three Latin words, although not as melodic this time: Invasi-Eradicavi-Turbavi which sadly stand for, I invaded, I destroyed and I threw-into-chaos. No matter what the Pentagon and White House tell us, the fiasco in Iraq likely stands as the most costly mistake in America’s history, a true Keystone Kops type of political dark comedy.  And it wasn’t a bad or flawed decision by a singular moron or group of morons – Bush the Younger, Sadist Cheney and Loquacious Rumsfeld composing the original warpath triumvirate, together with two dozen equally deranged staff of their inner circles.  Unfortunately, this time Congress, together with a brainwashed public, closed rank with an evil and criminal White House.  So, whether the American citizenry likes it or not… the Iraq conflict wasn’t just Bush’s war, but “the peoples’ war,” a war with a dangerous aftermath yet to come, one we’ll likely be paying for in the future with additional blood and treasure. , Newspaper Chaired By Private Equity Head Shockingly Endorses Mitt Romney For President; Ron Paul On Jay Leno   A few hours ago the Des Moines Register threw its support behind the Bain Capital founder, and the man now known to have actively destroyed any trace of his public "service" before his 2007 Massachusettes office handover (with a pending response to a Reuters FOIA, which will disclose just what it was that Romney was so tenuously shredding)… , Graham Summers’ Weekly Market Forecast (Deflation’s Back Edition)  http://gainspainscapital.com December 19th, 2011 The markets have entered a new round of deflation. The only asset class that has yet to realize this is stocks… ,  Bank of America 2012: The Worst is Yet to Come (TheStreet) , 7 Reasons The S&P Will Close 2011 Below 1100 http://www.bullfax.com/?q=node-7-reasons-sp-will-close-2011-below-1100   12/16/2011 , DEBT IS ENDEMIC IN OUR SYSTEM... AND THE DELEVERAGING WILL BE BRUTAL FOR BUSINESSES AND INVESTORS ALIKE   http://www.zerohedge.com/contributed/debt-endemic-our-system-and-deleveraging-will-be-brutal-businesses-and-investors-alike  Again, what’s happening in the US is NOT a garden-variety cyclical recession. It is a STRUCTURAL SECULAR DEPRESSION. And the reason is that we are currently witnessing the collapse of the greatest debt bubble of all time. Indeed, 2008 was the first round of this. We’re now heading into the second round in which entire countries will go bust. Remember, stocks were the last to “get it” in 2008. They’re the last to “get it” today too. And when they finally DO “get it,” 50 Economic Numbers About The US That Are "Almost Too Crazy To Believe" The Economic Collapse Blog does a terrific job of periodically putting together a compilation of the scariest data points about the US economy. , Moody's Takes S&P's Place - Downgrades Belgium By Two Notches To Aa3 Net EUR Short Position Soars To All Time Record, Implies "Fair Value" Of EURUSD Below 1.20, Or Epic Short SqueezeGuest Post: Startling The Global Community, Canada Withdraws From The Kyoto Convention Fitch Revises French Outlook To NegativeAnd The Euro Downgrade Hits Just Keep On Coming, This Time Fitch PLACES BELGIUM, SPAIN, ITALY, IRELAND, SLOVENIA AND CYPRUS ON RATING WATCH NEGATIVEFitch places Belgium, Spain, Slovenia, Italy, Ireland and Cyprus on rating watch negative. Dec 16th, 2011 (Fitch Ratings) , Swiss Join Suffering as Europe Crisis Ripples Dec 16th, 2011 (Bloomberg) , SEC charges ex-Fannie, Freddie CEOs with fraud  , All Over the World, People Are Yanking Money Out of Stock Funds The Wall Street Journal , Richard (RJ) Eskow: Mr. President, Stop Protecting Bankers From These Law Enforcement Officials (The Huffington Post) , Obama’s Depression Stephen Lendman | Obama wrecked America’s economy to save giant Wall Street banks. , Out of Chaos, Order: Now IMF Seeks Collective, World Bail-Out of Europe (that would be good money after bad and wouldn’t succeed anyway since as with america, there isn’t enough real value to do so – not goin’ to happen) The Daily Bell , Census data: Half of U.S. poor or low income AP , 50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe  The Economic Collapse , Downward Spiral Dec 16th, 2011 by News BY MOHAMED EL-ERIAN (ForeignPolicy) — Europe entered the year with an acute emergency in the periphery of the eurozone, the European Union’s elite 17-member club that shares a common currency. Misdiagnoses and inadequate policy responses allowed the contamination to travel sequentially from the outer reaches of the zone (Greece, Ireland, and Portugal) toward its inner core.In this first of three morphings in 2011, Italy and Spain were disrupted as interest rates soared, turning liquidity concerns into solvency ones. France was then impacted, with its AAA rating threatened by its exposure to the neighborhood’s problems. Then Germany, Europe’s strongest economy and the one that everyone looks to for a solution, had to contend with the embarrassing failure of a highly visible government debt auction. …These are consequential developments whose impact will be felt for years, and the latter is not limited to Europe. Virtually every country in the world is exposed. [source] , Class Warfare Blowback: Majority Of Americans Want Obama Out Current Events Summarized In Brilliant Art  George Washington 12/16/2011 A picture is worth a thousand words  [ View archived file: http://www.albertpeia.com/currenteventsinart.htm  ]  ,  Corporate warnings bode ill for earnings NEW YORK (Reuters) , Dave’s Daily: http://www.etfdigest.com STOCKS UNDER A CLOUD OF DOUBT December 15, 2011 ‘Pundits keep talking things up but who’s left to listen? We rallied initially on better economic data (below) but there’s a dark cloud over the market and quadwitching is ahead Friday. Adding to the uncertainty was influential Goldman Sachs strategist Jan Hatzius who commented: "A reduction in the lending of foreign banks to U.S. counterparties could have a meaningful impact on U.S. growth." He continued to assert that ongoing upheavals in the eurozone could shave 1% off U.S. GDP growth which frankly would put is in or near recession. And, per Hatzius, Goldman Sachs estimates U.S. banks are exposed to (gulp!) $1.8 trillion of counterparty risk from euro banks. Funny thing Bernanke and Geithner didn’t mention this to us. Further, the OECD warned that 2012 will see a potential funding crisis for developed countries with (cough!) $10.5 trillion in borrowing needs.Economic news was positive as Jobless Claims were lower at 366K; however, inside the numbers things were somewhat worse. Extended benefits increased by 322K and Continuing Claims rose to 3603K from 3583K which isn’t encouraging. One could subsume the report overall wasn’t that great but, it’s about the headlines baby! Empire Mfg Survey increased to 9.53 from .61 which is positive. But again, inside the numbers Prices Paid 24.42 versus 18.29 compresses margins and is potentially inflationary. Speaking of inflation, the PPI increased to .3% from -.3% previous…’ , The Fed's Intervention Didn't Solve Anything... It Just Pushed the Collapse Back a Few Weeks Australian Banks Given One Week To Prepare For European “Meltdown” Zero Hedge | This time around, the warning is for real. , Must Read: Presenting The MF Global Black Box: A Minute By Minute Breakdown Of The Doomed Broker's Last Week On EarthMoody's Turns To Canada: Ontario Outlook Revised To Negative, "Softening Economic Outlook" CitedRevised EFSF Draft Shows Italy, Spain Responsible For One Third Of European Bailout FundingFitch Downgrades 8 Global Banks Including BNP, SocGen, BofA, Deutsche, And Morgan StanleyChina Export-Growth Officially Slowing: Trade Deficit Coming?China trims holdings of US Treasury debt Dec 15th, 2011 (AP) , US Industrial production -0.2% in Nov, below market expectations of +0.2%, vs +0.7% in Oct; cap use 77.8%. Dec 15th, 2011 , France Braces for Cut in AAA Debt Rating as Noyer Takes a Swipe at Britain Dec 15th, 2011 (Bloomberg) , US initial jobless claims -19k to 366k for week ended 10-Dec, well below market expectations, vs upward revised 385k in previous week. USA GOLD , Fitch Downgrades a Bunch of Banks, Including Bank of America and Goldman The Wall Street Journal ,  Businesses Preparing for Higher Costs in 2012 The Wall Street Journal ,  Financial Crimes Up 47% Since '08 Crisis: FBI Forbes   ,  Citi Near Term Stock Forecast: 9300 In The DJIA; 985 In The S&P; Sees Chart Analogs To Pre-World War PeriodsCiti Predicts Gold At $3400 In "The Next Two Years", Potential For Move As High As $6000 Game Theory Over: Bank Of France's Noyer Says Britain Should Be Downgraded, Not France U.K. Unemployment Hits 17-Year High Dec 14th, 2011 (The Wall Street Journal) , For Europe, Only Way Out Is to Break Up: Kyle Bass Dec 14th, 2011 (CNBC) , 9 Reasons Europe's Crisis is WorseningRon DeLegge-Editor , One in Three Money Managers Sees Somebody Leaving the Euro Zone Next Year The Wall Street Journal , Italy’s Borrowing Costs Hit Euro-Era High Dec 14th, 2011 (The Wall Street Journal) , Market Recap: Stocks Decline as Euro Drops Below $1.30 Wall St. Cheat Sheet , Existing Home Sales to Be Revised Lower CNNMoney.com , Massive Downward Revisions Imminent: National Association of Realtors Miscounted Millions Of Home Sales Over Last Five Years Mac Slavo , Bailout Payback? Realtors Double-Counted Home Sales For Last Five Years SadHillNews , Fitch Downgrades Credit Agricole To A+, Outlook Stable STOCKS SINK, OIL FALLS, GOLD GETS KILLED: Here's What You Need To Know Business Insider Sam Ro , Gold Tanks, Headwinds Mount , Rewarding Henry Paulson's Ethical Failures ETFguide Ron DeLegge’ , Bernanke Is "Very Concerned" About Europe, Won't Bail Out European BanksSEC Cops Want to Fight U.S. Judge ‘…In his ruling, the New York judge denounced as "pocket change" a penalty agreed to by Citigroup…’, Germany Preparing Plans For Commerzbank Bail OutFollowing today's end of day rumor being a dud (and non-existent due to the habituation nature of the market), the closing news is more unpleasant than Europe would have liked to set the overnight mood, and comes to us via the FT (yes, that FT), which states that, as long speculated both here and elsewhere, "the German government has begun preparations for a possible state bail-out of Commerzbank." , "Guantánamo Forever?" - Congress Passes $662 Billion Defense Bill, Aka The NDAACongress just passed the National Defense Authorization Act in a 283-to-136 vote. 190 Republicans and 93 Democrats voted for; 43 Republicans and 93 Democrats voted "against." Prepare to be arrested, without charge, simply because someone "up there" believes you engage in "terroristy" stuff. Good luck proving them wrong.(How totally and historically pathetic pervasively corrupt, defacto bankrupt america’s become in its intractable decline and fall of historic proportion!) ,    Presenting The Three Unscripted Sentences That May Have Cost Jon Corzine His FreedomCME Executive Chairman Terry Duffy Throws Jon Corzine Under The Bus, Implies The "Honorable" Governor Lied Under OathEurope Using US as Model to Fix Debt Crisis: Bove Dec 13th, 2011 (CNBC) [Now you know they’re done!] ,Existing Home Sales Debacle, As Larry 'Baghdad-Bob' Yun Confirms OverstatementThe Real Unemployment Rate Near 20% – Infowars Nightly News Infowars Nightly News | Aaron Dykes breaks down the real unemployment figures that is killing the country and economic growth that obama refuses to fix. All That Glitters…Will Not Solve Europe’s Debt Woes Dec 13th, 2011 (The Wall Street Journal) ,As Disenchantment With Idiocy Surges, Ron Paul Support SoarsEU Banks Selling ‘Crown Jewels’ for Cash Dec 13th, 2011 (Bloomberg) , JP Morgan Stock Breaks Down On News Company's Role As MF Global Lender To Be ProbedMF's Corzine said to know of customer fund misuse Reuters , FOMC: Global Financial Markets Pose Downside Risk to U.S. Economic Outlook  , RALLY COLLAPSES, GOLD AND BANKS GET HAMMERED: Here's What You Need To KnowBusiness Insider , Greece Apparently Even Worse Off Than Realized, Hitting Euro, Stocks The Wall Street Journal , “Big Brother is Eyeing Us – For Good or Evil?”17 Signs That The European Financial System Is Heading For An Implosion Of Historic Proportions The Economic Collapse 12/13/11 ,   Corzine testifies on fall of MF Global (Washington Post) Corzine: It Was Those Darned Robots WSJ [ Singing ‘the body electric’! Riiiiight! The robots did it! Those churn-and-earn greedy robots! Damnable robots! They’re the ones! Damn robots! Wow! Talk about criminally insane! ] … Wow! Just when you thought you heard it all. This truly ranks with ‘my dog ate my homework’ and is surely destined to become a classic. MF Global CEO Jon Corzine: ‘I simply do not know where the money is’ Former U.S. senator, N.J. governor .. (WP), Evolution Securities Warns Of “Total Carnage And Meltdown” As European Bank Sales Of CDS On European Sovereign Debt Soar Zero Hedge | As much as we hate to say it, Europe is now without a shadow of a doubt the new AIG. , CFOs Less Optimistic About 2012 Growth  The Wall Street Journal  , "The Inmates Don’t Know It’s An Asylum" , Coming Collateral Crunch Charted The $30 Trillion "Problem" At The Heart Of Shadow Banking - A TeaserAlgo Liftathon Saves The Day But Financials FalterThe European Death SpiralFrench Downgrade - Even More Likely Than YesterdayGuest Post: Headwinds For Housing$32 Billion 3 Year Bond Prices At Second Lowest Yield Ever, Highest Bid To Cover On Record , Richard Koo On Why Europe's Austerity Will Cause Deflationary SpiralCashin On The Anniversary Of Bank Of The United States’ Failure, The Start Of US Bank Runs And The Great Depression Dec 12th, 2011 (UBS-via ZeroHedge) , Fitch Warning Shot Knocks Stocks Lower The Wall Street Journal , STOCKS TANK AND EUROPE IS STILL IN CRISIS: Here's What You Need To Know Business Insider , Minyanville's T3 Daily Recap: S&P Slips 1.5% on Euro Jitters, Ratings Warnings  Minyanville , So Much For That Summit, Markets Have No Faith In Euro Deal  Forbes , Market Recap: Stocks Sharply Lower on Doubt Over Europe’s Crisis Plan Wall St. Cheat Sheet , Pain May Not Be Over for U.S. Banks Reuters , SLOW MOTION CRASH DEVELOPING  Dave’s Daily: http://www.etfdigest.com , Wall Street tumbles on Europe, Intel's outlook (Reuters) , ETF Insider: Stay On The DefenseETF Database , THE ROAD NOT TAKEN: GLOBAL ECONOMY ON THE BRINK http://www.safehaven.com/article/23606/the-road-not-taken  12/10/2011 By David Knox Barker , The Tim Tebow Comeback Story Continues But There Will Be No Miracle Comebacks For The U.S. Economy  The Economic Collapse December 12, 2011 , The Gold "Rehypothecation" Unwind Begins: HSBC Sues MF Global Over Disputed Ownership Of Physical Gold Forget Europe… Germany’s Got Its Own Problems to Deal With   http://gainspainscapital.com  Bailout Total: $29.616 Trillion Dollars Dec 9th, 2011 (TheBigPicture) — There is a fascinating new study coming out of the Levy Economics Institute of Bard College. Its titled “$29,000,000,000,000: A Detailed Look at the Fed’s Bail-out by Funding Facility and Recipient” by James Felkerson. , The Shriveling Middle Class In California  testosteronepit : 12/09/2011 California on the way to a banana republic. , Evolution Securities Warns Of "Total Carnage And Meltdown" As European Bank Sales Of CDS On European Sovereign Debt Soar  The Worldwide Depression/Recession Of 2012  Econophile 12/08/11 Daily Capitalist , Are Dim Sum Bonds The Next Chinese Reverse Merger Fraud?While Draghi somewhat shut the door on the ECB being the lender of last resort today, there appears to be a sucker-of-last-resort where Dim Sum bonds (offshore/HK Yuan-denominated bonds) have seen issuance almost triple in the first 11 months of the year , Risk Assets Deteriorating Rapidly On Europe's SNAFU And Scene: Europe Agrees To Disagree, Next Summit Date Set For March 2012 As David Cameron Kills Compromise STOCKS GET SLAMMED AFTER BIG ECB DISAPPOINTMENT: Here's What You Need To Know Business Insider 12-08-11 ,Last Minute Summit Mutiny Threatens The Future Of The Euro; And Why A Wholesale S&P Downgrade Of Europe Will Be Devastating    A day when everything that could go wrong for the euro and eurozone has just gotten worse. , Europe Must Swallow ‘Bitter Pill’ Dec 8th, 2011 (CNBC) The Misery Continues: Complete November Hedge Fund Performance Fourth Time Is The Charm: Texas Instruments Slashes Outlook... Again , Snapshot Of Pure Market Lunacy , Guest Post: Another Reason for Stocks To Tank In 2012: JobsEuro Crisis Will Only Get Worse And Do Serious Damage To Investors  Forbes Martin , Hope You Enjoyed That Run of Happy Economic Surprises, Because It's Probably Over: Barclays The Wall Street Journal , This Week's EU and ECB Meetings Can't Fix Europe or US Stocks Minyanville  Jeffrey Miller Dec 08, 2011 , Corzine: It Was Those Darned Robots The Wall Street Journal [ Singing ‘the body electric’! Riiiiight! The robots did it! Those churn-and-earn greedy robots! Damnable robots! They’re the ones! Damn robots! Wow! Talk about criminally insane! ],  SPX Update: Market Still Looks To Be Forming a Top  Jason Haver Dec 06, 2011 ‘In conclusion: It remains a trader's market, as so far every break of important support or resistance has led nowhere. I continue to favor the bearish short-term resolution, as well as the bearish long- and medium-term views’ , 4 Reasons to be Bearish  thetechnicaltake 12/07/11 .. resistance.. recession..intermarket headwinds..’ S&P Warns It May Cut Most European Banks, European Union ItselfNot sure why the market is surprised by this, but it is. , Jump Risk Jumps After American Bankruptcy, Sends Junk Plunging As Major Debt Refi Cliff Approaches  , S&P At It Again, Warns EU, Large Eurozone Banks of Downgrades Dec 7th, 2011 (Barron’s) ,  In Past Week Americans Pull The Most Money From Stock Market Farce Since US Downgrade, Despite Market Surge Marc Faber: "I Have A Very Special Stock Tip For You. The Symbol Is G-O-L-D" …considering the ridiculousness of the market over the past two weeks when it has gone up on nothing but lies, Faber just may have a point. , ‘No Way’ Europe Will Hold Itself Together: CIO CNBC | “Europe is in a terminal phase of its life.” , Europe Is Setting Itself Up For A Decade-Long Recession Global Economic Intersection  , Why The UK Trail Of The MF Global Collapse May Have "Apocalyptic" Consequences For The Eurozone, Canadian Banks, Jefferies And Everyone Else In an oddly prescient turn of events, yesterday we penned a post titled "Has The Imploding European Shadow Banking System Forced The Bundesbank To Prepare For Plan B?" in which we explained how it was not only the repo market, but the far broader and massively unregulated shadow banking system in Europe that was becoming thoroughly unhinged, and was manifesting itself in a complete "lock up in interbank liquidity" and which, we speculated, is pressuring the Bundesbank, which is well aware of what is going on behind the scenes, to slowly back away from what will soon be an "apocalyptic" event  ,   Read This and Tell Me Germany Wants a Monetary Union 12-7-11 http://gainspainscapital.com  ‘I’ve stated before that I fully believe Germany will be leaving the Euro. , "This Time Will Not Be Different": Interactive Chart Of Market Reactions To All Prior 2011 Eurozone Summits And Meetings Pivot Capital On China's Investment Boom (And Pending Bust)  What’s wrong with this picture: Wall St rises on EU summit hopes     Asia climbs ahead of European meetings [Riiiiight! Addicted to hopium? Déjà vu all over again? This is beginning to be beyond ridiculous. There is no viable solution beyond their disingenuously, meretriciously saying so amidst the typical spin and b***s*** to froth the markets! ] , RALLY FIZZLES OUT AFTER HOT RUMOR FROM EUROPE: Here's What You Need To Know Business Insider ‘ The second day of Europe's hell week was relatively quiet until another rumor sparked markets during late trading. , S&P Puts 15 Euro Nations on Downgrade Watch Wall St. Cheat Sheet ‘… The outlook change is “disastrous for Europe”…’ , Is the Fed Leaking Again?  http://gainspainscapital.com  , S&P says EFSF could be downgraded (Reuters) , Tremors from a euro collapse would be global, with U.S. recession likely (Washington Post) , Bloomberg Fires Back At Bernanke's Blustering Rebutall It appears 'It Is On' as Bloomberg offers its well-reasoned and eloquent response to Mr. Bernanke's 'egregious errors' note to Congress.’ , Guest Post: A Very Subtle Form Of TheftBernie Madoff .. ran one of the largest private-sector Ponzi schemes in history and always heeded the golden rule of financial scams: make sure your inflows are greater than your outflows. He was finally done in when redemptions exceeded new investments. He didn’t have enough cash to pay out investors, and he wasn’t able to scam more people into paying in to the scheme. As a result, Madoff finally had to admit that the whole thing was a total fraud. Governments around the world are in similar situations right now with their own public sector Ponzi schemes. Faced with failed auctions, declining demand, and rising yields, politicians are having to resort to desperate measures. Like any good scam artist, they’re appealing to the masses first; all over Europe, governments are sponsoring new marketing campaigns suggesting that it’s people’s patriotic duty to buy government debt. , Has The Imploding European Shadow Banking System Forced The Bundesbank To Prepare For Plan B? While much has been said about the vagaries in the European repo market elsewhere, the truth is that the intraday variations of assorted daily metrics thereof indicate three simple things: a scarcity of quality assets that can be pledged at various monetary institutions in exchange for cash or synthetic cash equivalents, a resulting lock up in interbank liquidity, and above all, a gradual freeze of the shadow banking system..we may be experiencing the attempt by the last safe European central bank - Buba - to disintermediate itself from the slow motion trainwreck that is the European shadow banking (first) and then traditional banking collapse (second and last). Because as Lehman showed, it took the lock up of money markets - that stalwart of shadow liabilities - to push the system over the edge, and require a multi-trillion bailout from the true lender of last resort. The same thing is happening now in Europe..’ , Layoffs Watch ’11: Citi , Social Security 2011 – Another Bad Year Krasting ,   HUGE RALLY CUT IN HALF AFTER EUROZONE RATINGS BOMBSHELL: Here's What You Need To Know Business Insider Sam Ro’ Europe's hell week begins with new EU treaty proposals and reports of an S&P ratings action bombshell…U.S. economic data was largely overlooked during this morning's rally.  The ISM services number unexpectedly fell to 52.0, missing the expectation of an increase to 53.9.  This also compares to last month's number of 52.9.  October factory orders fell 0.4%, which was slightly worse than the 0.3% decline expected.  September factory orders were revised sharply lower…’ ,  Confirmed: Not Just AAA Nations, but *All 17* Euro Nations to Be Put on Notice for Downgrade The Wall Street Journal , Standard & Poor’s Puts Ratings On Eurozone Sovereigns On CreditWatch With Negative Implications Dec 5th, 2011 (Standard & Poor’s) , Graham Summers’  Weekly Market Forecast (Fade the Fed? Edition) December 5th, 2011  ‘Equities got giddy last week when the world’s central banks, lead by the US Federal Reserve, lowered the global cost of borrowing Dollars. Regardless of the market’s reaction, the whole thing smells of desperation and quite frankly, everyone should be questioning the Fed’s move…The IMF, Bank of England, and others have warned of a systemic collapse… do you think they’re doing this for fun?Many investors will have their portfolios wiped out in the coming carnage. It could be next week, or it could take place next year… but we ARE heading into a Crisis that will be worse than 2008…’ , Gallup Finds Recent Job Boost Due To "Temp And Part-Time" Hiring; Underemployment Greater Than Prior Year  While the BLS unemployment number, fudged strategically to lower the denominator, or the total labor force, may have come well better than expected (as somehow miraculously ever more people find the shadow economy a more hospitable place where to make their money and drop off the BLS roll forever) we once again go to that trusty fallback, the monthly Gallup poll of underemployment. What we find here is rather different from what the BLS, and the administration would like us to believe, namely that "underemployment, a measure that combines the percentage of workers who are unemployed with the percentage working part time but wanting full-time work, is 18.1% in November, as measured by Gallup without seasonal adjustment. That is up from 17.8% a month ago and 17.2% a year ago." Said simply, "many employers appear to have chosen to hire part-time rather than full-time employees for this holiday season." , Solyndra Schadenfreude As Goldman Sachs Played Key RoleWhile we are not completely shy of saying we-told-you-so, in the case of the players in Solyndra's fantastic rise and fall, we are more than happy to. Back in September we highlighted Goldman Sachs' key role in the financing rounds of the now bankrupt solar company and this evening MarketWatch (and DowJones VentureWire) delves deeper and highlights how the squid has largely stayed out of the headlines (what's the opposite of lime-light?) in this case despite its seemingly critical assistance and support from inception to pre-destruction. Goldman's involvement in Solyndra, and its lofty valuation projections, lent credibility to the company and helped rouse investor interest and it was this private interest that was cited by DoE officials as a considerable factor in its loan guarantee program. As we said before, anywhere you look, Goldman has been there and left its mark...’ , The Black Friday Shopping Hangover Is Coming: David Rosenberg Explains Here Comes The S&P Downgrade Barrage - Full Statement, In Which S&P Says France May Get Two Notch DowngradeJeremy Grantham Releases The Scariest Market Forecast YetMUST SEE – Bernanke’s Stealth Bailout For Wall Street Kept Secret From Congress Daily Bail | Bernanke runs his own private dictatorship. , How The U.S. Will Become a 3rd World Country (Part 2) Hera Research | The United States is quickly coming to resemble a post industrial neo-3rd-world country.,  SPX Update: Topping Again? Minyanville Jason Haver Dec 02, 2011 ‘The market is giving several signals that a top may be near… In conclusion, I remain medium and long term bearish.’,  Number of Jobless Without Benefits Grows Dec 2nd, 2011 News ‘…The decline in unemployment was driven in part by the disappearance of some 315,000 people from the labor force. If they haven’t looked for work in the past four weeks, they’re not counted as unemployed… the Labor Department estimated that as of November, a seasonally adjusted 6.6 million people considered not in the labor force actually did want work. That number was up 192,000 from October…’ Economy Creates 120,000 Jobs, Rate Tumbles to 8.6% Dec 2nd, 2011 (CNBC)PG View: Slate columnist Matt Yglesias tweeted this shortly after the jobs report came out: “Decreasing unemployment by shrinking the labor force is not exactly winning the future.” , How The U.S. Will Become a 3rd World Country (Part 2) The United States increasingly resembles a 3rd world country in terms of unemployment, lack of economic opportunity, falling wages, growing poverty and concentration of wealth, government debt, corporate influence over government and weakening rule of law.’ , EUR Shorts Surge, Back To 17 Month Highs As Bearish Sentiment Returns , Bob Janjuah Explains Why The Worst Is Still Ahead Of Us America To Go The Way Of The Roman, British Empires Forbes Robert Lenzner, Forbes Staff

, A Hedge Fund Insider Explains Why Retail Investors Should Flee The Stock MarketTHE MARKET IS MISREADING ECONOMIC DATA -- IT'S TIME TO GET SHORT  http://www.bullfax.com/?q=node-market-misreading-economic-data-its-time-get-short  12/01/2011 The Independent Investor , Chinese manufacturing activity slows Dec 1st, 2011  (Financial Times) , US initial jobless claims +6k to 402k for the week ended 25-Nov, above mearket expectations of 390k, vs upward revised 396k in previous week. Dec 1st, 2011 ,  Another Confirmation of the Solvency Crisis Masquerading as a Liquidity Problem   Atlantic Capital Management Dec 01, 2011 ‘The Federal Reserve is once again reaching into its controversial "unconventional" toolkit -- meaning stocks are, for now, celebrating the near meltdown of modern global banking. , SPX Update: Ben Bernanke Lends Money, Saves the World?  Jason Haver Dec 01, 2011   ‘At this point, despite the massive three-day rally, there are still a few unanswered questions. I remain medium and long term bearish, while the short-term picture has become a bit clouded.’ ,  What Does the Fed Know That We Don’t? 12-01-11 The thought that should be on every investor’s mind today is “Why did the Fed have to stage the coordinated intervention yesterday?’Put another way, what exactly does the Fed know that we don’t?The whole thing smells fishy to me. Aside from the fact that the Fed clearly leaked its intentions as early as Monday night (hence the reason stocks rallied while credit markets weakened), there’s something peculiar about the fact the Fed chose to do this at the end of November. Why November 30? Why not today or Tuesday?I think the answer is that the Fed stepped in to help its institutional investor/ hedge fund buddies.’  BofA, Goldman Sachs, Citigroup Credit Ratings Cut by S&P Nov 30th, 2011 (Bloomberg) , Planned layoffs surpass 2010 total CNNMoney | Cuts announced this year are up 13% overall. , The Easy Fix? Can Europe Print Its Way Out of Trouble? ETFguide  ‘the long-term outlook is as dark as night inside the Grand Canyon…’ , Global Coordinated Desperation and the December to Remember Breakdown Minyanville Michael A. GayedWith global central bank desperation (I mean coordination) announced this morning and the big jump up in risk assets…’ , The Fed is So Predictable Chris Celi 11/30/2011 The Fed is becoming a gigantic waste basket of bad assets. Waste baskets do not have infinite capacity.  Central Banks’ Latest Move Shows Desperation George Washington 11/30/2011 Hey, at least a handful of Ben's buddies will make a bundle ...  Deflation is coming South of Wall Street 11/30/2011 It isn't avoidable , Don't Be Foolish, Sell the Next Key Level In the S&P 500 Forbes/Troccoli  http://blogs-images.forbes.com/thechartlab/files/2011/11/spafter.png  , Wall Street Watch: S&P Cutting Spree, Germany Faces RecessionWall St. Cheat Sheet , AN UNCONVINCING RALLY http://www.istockanalyst.com/finance/story/5571238/an-unconvincing-rally  By: Cam Hui   , BANK DOWNGRADE RAMPAGE: Goldman, Bank Of America, Morgan Stanley, Wells Fargo, And Citigroup Just Got Cut By S&P Business Insider | Standard & Poor’s ratings service just cut the ratings of Goldman Sachs, Bank of America, Morgan Stanley and Citigroup from A to A-. , China Manufacturing Contracts As New Export Orders See Biggest 2 Month Drop Since Dec2008UPDATE: HSBC China Manufacturing PMI prints at 47.7, deteriorating at fastest rate (and lowest level) in 32 Months , Goldman On Today's Coordinated Central Bank Bailout: "It Isn’t Enough To Save Anyone Or Solve Averything" And "Why Now?" The Punch Line: "Crash Test - Bracing For Breakup"  , For The First Time In History, Fed Will Buy AND Sell Treasurys At The Same Time On FridayEgan Jones Downgrades France From AA- To A; Negative Watch, Sees Debt/GDP Rising From 91% to 117% By 2013Of Imminent Defaults And Self Deception. Kyle Bass Prepares For The WorstIn his latest letter to LPs, Kyle Bass of Hayman Capital Management, offers his tell-tale clarity on what may lie ahead for Europe and Japan. With his over-arching thesis of debt saturation becoming more plain to see around every corner, Bass bundles the simple (and somewhat unarguable) facts of quantitative analysis with a qualitative perspective on the cruel self-deception that we all see and read every day about Europe.Whether it is Kahneman's "availability heuristic" (wherein participants assess the probability of an event based on whether relevant examples are cognitively "available"), the Pavlovian pro-cyclicality of thought, or the extraordinary delusions of groupthink, investors in today’s sovereign debt markets can't seem to envision the consequences of a default. ,  Fed Economists Predict A 15 Year Bear Market For Stocks News (BusinessInsider)  ,    http://www.economist.com/content/global_debt_clock is ticking! ,    Senate Passes Bill Allowing Indefinite Detention of Americans ... Considers Bill Authorizing More Torture  George Washington : 11/29/2011 - 20:53 USA, USA, USA ... Number One in ... cough ... Fascism ... cough , SPX Update: Sell the Bounce   Jason Haver Nov 29, 2011 ‘This bounce might not last long, and new lows are expected to follow., BANK DOWNGRADE RAMPAGE: Goldman, Bank Of America, Morgan Stanley, Wells Fargo, And Citigroup Just Got Cut By S&P Business Insider | Standard & Poor’s ratings service just cut the ratings of Goldman Sachs, Bank of America, Morgan Stanley and Citigroup from A to A-.  , Foreclosure Fraud | Lender Processing Services Robo-signer Whisleblower Found Dead in Nevada  4closureFraud : 11/29/2011 , You Cannot Build a Financial System on Rumors and Lies  http://gainspainscapital.com   November 30th, 2011  ‘This act is getting old.Almost every other day we’re getting rumors about new bailouts and interventions in Europe. All of these rumors turn out to be total lies as they are refuted usually within a day and sometimes within a few hours.Case in point, stock futures erupted overnight on Sunday on rumors that Italy would be getting a 600 billion euro bailout from the IMF. Just a few hours later this story came out: IMF denies in Italy aid talks…’ , Minyanville's T3 Daily Recap: S&P Ekes Out Gain; Has the Oversold Bounce Run Its Course?  Minyanville  T3Live.com Nov 29, 2011 ‘Although we are significantly higher than Friday's close, the intraday action has been extremely lackluster, suggesting that there is more downside to come from here. , S&P Hits Biggest US Banks With Credit Rating Downgrades http://albertpeia.com/s&previsedratingscriteria.htm  WSJ Gongloff November 29, 2011 , Presenting Russell Napier's Greatest Hits Russell Napier: the renowned financial historian and consultant for CLSA, as well as author of the engrossing Anatomy of the Bear, who only together with Albert Edwards, has predicted that the S&P would eventually drop to 400…’ ,  Problem With Germany And China: Who Bails Out The Bailers?   Forbes / Addison Wiggin  [‘.. Another downgrade of U.S. sovereign debt is a “certainty,” he adds. “It’s only a matter of when.”..’ U.S. economic conditions are “terrifying,” Mohamed El-Erian said yesterday..’ ] Nouriel Roubini: Government Gridlock ‘Ensures’ 2012 Recession Daily Ticker - Nov 23, 2011 ,  $707,568,901,000,000: How (And Why) Banks Increased Total Outstanding Derivatives By A Record $107 Trillion In 6 Months Nothing's Changed: Italy and the December to Remember Breakdown Michael A. Gayed Nov 28, 2011 , 2011 Looking a Lot Like 2008: Technical Analyst The Wall Street Journal Shipman , New World Disorder - Watch the Stock Market Ilene 11/27/2011 If the mid-summer sell signal of 2011 plays out similarly to the one in 2008, there may be a long, dramatic decline straight ahead. , How the European End Game Will Play Out November 29th, 2011 | http://gainspainscapital.com  ‘With the European End Game now in sight, the primary question that needs to be addressed is whether Europe will opt for a period of massive deflation, massive inflation, or deflation followed by inflation. , EURO FIX RUMORS November 28, 2011  Dave’s Daily: http://www.etfdigest.com Markets rallied sharply on little hard news Monday beyond rumors. , Britain's Foreign Office Prepares For Riots In Europe; Sees Euro Collapse "When, Not If"  , Stocks Finish Monday Near Highs But Rally Looks Limp   Forbes / Scott Redler , Fitch Affirms US as AAA, But Cuts Outlook to Negative  , The desperation of Black Friday — Salon    http://www.youtube.com/watch?v=jYeDRKB1RXw&feature=player_embedded#t=0s ‘...That is not a portrait of healthy economic activity. That is desperation, pure and simple. The story of the woman who sprayed her fellow Xbox shoppers with pepper spray is bad enough, but nothing quite captures what’s wrong with Black Friday better than this Lord of the Flies-style barbaric waffle-maker anarchy…’  [Come On! Wake Up! More stores open, earlier, larger loss leaders / markdowns, as desperate as the desperate desperados who got their ‘shopping’ in early, at best. The spin is toal b***s***! Even the great depression didn’t bespeak this great desperation! The desperation of Black Friday — Salon    http://www.youtube.com/watch?v=jYeDRKB1RXw&feature=player_embedded#t=0s ‘...That is not a portrait of healthy economic activity. That is desperation, pure and simple. The story of the woman who sprayed her fellow Xbox shoppers with pepper spray is bad enough, but nothing quite captures what’s wrong with Black Friday better than this Lord of the Flies-style barbaric waffle-maker anarchy…’  Drudgereport: FITCH TURNS NEGATIVE ON US , Germany told it must act to save Europe…[ Who’s goin’ to save Germany? ]... , Impassioned plea for continent to avoid 'apocalypse'... , Warned of 'highly devastating outcomes'... , Just days until collapse? ] ,  Italian Bond Yields Doubled in Latest Bond Auction Wall St. Cheat Sheet , Sliding Incomes Threaten Consumer Spending  , Moody’s Downgrades Hungary to Junk Wall St. Cheat Sheet , Global Stock Markets Remain in Structural Bear Markets Minyanville  NextBigTrade.com Nov 25, 2011 , Euro on ‘Death Watch’ After Investors Spurn German Bonds CNBC.com , Stocks Extend Longest Drop Since 2008 on Debt Bloomberg , STOCKS GO NOWHERE AND EUROPE GOES DEEPER INTO CHAOS: Here's What You Need To Know Business Insider Sam Ro , The Global Economy is in Big Trouble The Economic Collapse | The global economy is heading for a massive amount of trouble in the months ahead , European Banks Frantically Trying To Dump $7 Trillion Of Crap Assets — But No One Will Buy Them Business Insider , European Bailout Time Of Death: EFSF Cut In Half Due To “Market Conditions” Zero Hedge , Experts: ‘Euro to be Scrapped within Months’  Nov 25th, 2011 (IBTimes) , S&P downgrades Belgium one notch to AA+ citing financial sector risks. Outlook remains negative. Nov 25th, 2011 , Guest Post: Just A Holiday Reminder - Black Friday Is Utterly Meaningless  , "Disastrous" bond sale shakes confidence in Germany Reuters , Why Europe Will Result in Systemic Risk November 23rd, 2011 ‘..These leverage levels alone position Europe for a full-scale banking collapse on par with Lehman Brothers. Again, I’m talking about Europe’s ENTIRE banking system collapsing.This is not a question of “if,” it is a question of “when.”..’ , STOCKS GET SMOKED, EUROPE BURNS, AND BANKS ARE STRESSED: Here's What You Need To Know http://www.businessinsider.com/closing-bell-23-2011-11   Sam Ro Business Insider , Euro Tumbles As JPM Predicts ECB Rate Cut To 0.50%, “Deep Euro Area Recession” Zero Hedge , Euro on ‘Death Watch’ After Investors Spurn German Bonds CNBC.com , Are Parallels to the Great Depression Catching Up for Good?  [ Short answer: Yes! And, in a new, modern, and in light of insurmountable debt levels and fraud at lightning computerized speed, a far more deleterious way. ]’.. Time is running out. Italian 10-year debt yields are once again above the sustainable level of 7%, while Spain…’ , Euro crisis: The screw tightens — Free Exchange , DATA SUMMARY SHOWS THE US ECONOMY IS IN JEOPARDY  [ Duh! Ya think? ]  Jeff Harding Nov 23, 2011 ‘..I have what I believe is a healthy skepticism about the reports from the multitude of federal agencies that I follow on a regular basis. They are often revised and probably understate the negatives. That is especially so with price inflation. Many of the reports are in nominal numbers rather than adjusted for official price inflation..’  ,   Goodnight Stocks: Waiting For The Crash To Arrive      http://www.bullfax.com/?q=node-goodnight-stocks-waiting-crash-arrive By Eric Parnell 11/22/2011 , Spanish Bond Yields Surge to Record HighWall St. Cheat Sheet , Germany Walks… or the EU Sees a Domino Debt Collapse Followed by Systemic Failure   http://gainspainscapital.com November 22nd, 2011 , MF Global trustee says $1.2 billion missing from company Reuters | The shortfall of commodity customer funds at MF Global Holdings Ltd may be around $1.2 billion. , Pimco’s El-Erian Says U.S. Economic Setting ‘Terrifying’ Nov 22nd, 2011 (Bloomberg) , Deep economic pain ahead for the U.S. and the world: Simon Hunt Nov 22nd, 2011 (HousingWire) , ‘The Sky Will Fall In’ for Europe; US Key to Growth: Bank Chairman [ Which means: ‘They’re doomed; ‘cause pervasively corrupt, defacto bankrupt america is an economic, financial, and political basket case, at best!’ ] Nov 22nd, 2011 (CNBC) , TIME Asks Can the U.S. Federal Reserve Help Save Europe’s Banks? TIME | The U.S. Federal Reserve has been pumping billions of dollars into the European banking system in recent weeks. [ Come on! Get real! Who’s going to save the fed? ]  , Jim Grant: “Central Banks Are Insolvent” Daily Bail | Holy insolvency Batman: the ECB is leveraged 14 to 1, and the Fed is leveraged 100 to 1 , As the World Crumbles: the ECB spins, FED smirks, and US Banks Pillage Nomi Prins , Stock Market Still Broken, Technically The Wall Street Journal  Steven Russolillo and Tomi Kilgore   ‘The technical indicators are not looking good for the stock market these days , Greece Just 20 Days Away from DefaultWall St. Cheat Sheet , Economy Grew Less Than Previously Estimated in Third QuarterWall St. Cheat Sheet [You may recall the ‘market pop’ on what I previously referred to as dubious then and now known to be false data / reports; which, in this ‘election cycle’, is the typical political desperation underlying these complicitly fraudulent markets. And, be advised that inflation is way beyond what’s reported, and contrary to spin, that’s a very bad thing.] , Dave’s Daily: http://www.etfdigest.com WHEN KEYNES POLICIES AND POLITICIANS FAIL ,  Will The Deficit Super Committee Failure Lead to Another Meltdown? ETFguide Maierhofer 11-21-11’… According to the formula the down side potential is simply massive…’ , Japan's Kokusai Liquidates Remainder Of Euro Sovereign Exposure, Just As European Primary Issuance Supply Surgesthe following update from Morgan Stanley shows, things are getting from from bad to worse…’ , Moody's Says No To Congressional Can-Kicking The Wall Street Journal { Yet watch for Moody’s can-kicking, based on, quid pro quo?, hope?, etc.. } , STOCKS GET SLAMMED, EUROPE GETS WORSE, BANKS AND GOLD GET CRUSHED: Here's What You Need To KnowBusiness Insider Something Big Is Coming... and It's Going to Be BAD Phoenix Capital... 11/18/2011 We have been getting MAJOR warning signs of a collapse for months now. No less than the Bank of England, the IMF, and legendary asset management firm Franklin Templeton have warned…’ ,  One Interesting Thing About the Leading Indicators Report  The Wall Street Journal (Fri, Nov 18) { How about the most interesting thing about ‘leading economic indicators’ is the weighting accorded M2 and stock prices… ,  The next financial crisis will be hellish, and it’s on its way  http://news.yahoo.com/next-financial-crisis-hellish-way-204303737.html   Addison Wiggin | Forbes 11-16-11  "There is definitely going to be another financial crisis around the corner," says hedge fund legend Mark Mobius, "because we haven't solved any of the things that caused the previous crisis." ,   House rejects balanced budget amendment Nov 18th, 2011 (AP) , US Deficit-Cutting Talks Appear to Be Near Collapse Nov 18th, 2011 (Reuters) , Drudgereport: NEW DOWNGRADE THREAT , Guest Post: The Reasons For China's Imminent BustFriday Night Irony: According To The Fed, Just Over One More Year Of ZIRP Will Lead To 38.36% Annual Inflation The Final Straw? Jefferies And Six Other Banks Sued For "Fraudulent" MF Global Bond Issuance Stocks sink after Fitch warns on US bank exposure AP , Beware the Earnings Cross, Stock Investors The Wall Street Journal  Gongloff , Tighter Credit Suggests Stocks Should Fall  The Wall Street Journal ,   Watch Nigel Farage Dance On The Euro's GraveAnother Tough Month For Tilson As CNBC's Favorite Buffett-Worshipper Is Down Over 24% YTD Payback Time - The Coming Decade Of Deleveraging    Dave’s Daily: http://www.etfdigest.com ‘The further down the road we go without confronting problems head-on, the more difficult things become… We go along with band-aids, useless stimulus, money printing and hope. It’s BS and smoke and mirrors policies... Their credibility is shot.It’s no wonder investors are fleeing markets. Over $200 billion in equity mutual funds have left the markets since 2010. As I update our Top Ten ETF lists by sector, I see assets under management (AUM) declining 25-45% just in the last four months. The great October stock rally was a “eurozone is fixed” mirage. Thursday markets received mixed economic news in the U.S. as Jobless Claims fell somewhat (higher previous revisions again and people dropping off the rolls like flies accounts for some of this) and a poor Philly Fed Survey (3.6 vs 9 expected and previous 8.7). Housing Starts were unchanged, and frankly we don’t need more home construction…’ The next financial crisis will be hellish, and it’s on its way Forbes.com  Citi Economist Warns of Imminent Spanish, Italian Default  The Wall Street Journal (11-16-11) , Financials Drag Market Lower, Fitch Raises Doubts About Euro Hedge Effectiveness The Wall Street Journal Gongloff (11-16-11) , Stocks Making Risky Bet on Massive ECB Money Printing The Wall Street Journal , Dave’s Daily: http://www.etfdigest.com  INVESTORS ON THIN ICE ,  Euro-Dollar Basis Swap Cost at 2008 Crisis Levels The Wall Street Journal , U.S. Debt Tops $15 Trillion Mark Today Nov 16th, 2011 (ABCNews) ,   Minyanville's T3 Daily Recap: Wedge Pattern Looks Set to Resolve to Downside Minyanville , European Financial Gravity: The Era of "Extend and Pretend" Is Over Atlantic Capital Management , Europe: Close To A Death Spiral? Nov 16th, 2011 By Bruce Krasting (EconMatters) , Citi Chief Economist Willem Buiter: A Spanish Or Italian Default Could Happen In A Few Short Days Financial Stocks Catching Up To Their Recent Credit Weaknessit seems reality is starting to sink in.. , Which Way Wednesday – Popping or Topping (again)?  ilene 11/16/2011 This is a fantastic opportunity to observe the workings of an actual criminal conspiracy to defraud the American people in action. , JPMorgan To Issue CMBS Backed By... Defaulted Loans,  Presenting Europe's Remaining 2011 Bond And Bill Auctions... All 104 Of ThemCongress Shocked To Find That Being CEO Of A Bankrupt Company Is The New Killing It Two weeks ago we reported with sheer disgust that the outgoing CEO of bankrupt Freddie Mac, Ed Haldeman, was to pocket over $4 million for his brief two year stay..for lots of hard work collecting bail out cash from the Treasury. $21 billion to be precise , Dark Pool Flush: Game Over Pipeline; Next Up Goldman's Sigma X?For years Zero Hedge has been exposing the persistent fraud that goes on behind the trading scenes, not only in High Frequency Trading, but also in various dark trading venues, known better as dark pools where exchanges, typically the banks themselves get to match buyers and sellers without any indication of a trade having occurred, until much later if at all… What will shock the trading community, however, even more is if the SEC decides to go after not some tiny unknown firm, but the real dark pool transgressors, the biggest one of which is and has always been Goldman's Sigma X. Of course for that to happen, Mary Schapiro would actually have to do her job. And that, unfortunately, ain't happening. , Falling house prices trap first homeowners Guardian , Contagion spreads, triple-As under pressure Nov 15th, 2011 (Reuters) , What Other MF Globals Are Lurking In the System?   ,  Last Market Rally Before the Bears Take Over  Minyanville David Banister 11-14-11 ‘The current market rally will likely last through Christmas before we see the big leg down. …  Longer term, my best view right now is that this is a countertrend bounce off the 1,074 lows that will give way to another big down leg. …‘ , Even the Fed Can’t Value Financials’ Risk Phoenix Capital 11/14/2011  The NY Fed is the single most powerful entity in charge of the Fed’s daily operations. How can any investor believe that the Fed can manage the system and restore trust when the NY Fed cannot accurately audit a financial firm’s risks during a six month review, then there is NO WAY an ordinary investor can do so. , Europe in worst hour since WW2: Merkel [Duh! Ya think?] , Congress Trading Stocks on Inside Information!?Wall St. Cheat Sheet , Bob Chapman: Surviving The Banker Sociopaths The Alex Jones Channel | Alex talks with regular Friday guest Bob Chapman of the International Forecaster.SPX Update: Crash Wave Ready; Confirmation Still Pending   Jason Haver 11-11-11 Do Valuation Metrics Still Apply or Has The Market Become Untradable? Simon Maierhofer Etf Guide [ Short answers: No and yes the market has become ‘untradable’ for investors. I would add that the ‘debased dollar policies’ (ie., QE’s, overprinting of paper currencies / dollars, etc.) enable sales / revenues to be booked with ‘more’ of the inflated dollars relative to costs booked at the ‘fewer / greater value’ dollars which spikes earnings but leads to the inevitable margin erosion when the reported costs ‘catch up’ in terms of inflated ‘Weimar’ dollars. Hence, even the averages when deflated for real inflation (see Faisal infra) show a far less sanguine picture (than say, hard assets, ie., gold, etc.). Even more important is the effect of the HFT programmed trades , http://albertpeia.com/wallstreetcrapshoot.jpg  ,  Bernanke Knows He’s Powerless This Time AroundThe Aftermath of the Risk-Free Sovereign Debt Illusion Minyanville (Fri, Nov 11 ]   Divergences Point To Stock Market Crash  http://www.bullfax.com/?q=node-divergences-point-risk-stock-market-crash 11/10/2011  James A. Kostohryz , EU Warns Of ‘Deep, Prolonged Recession’ Dow Jones Newswires | The European Union Thursday slashed its growth forecast for the 27-nation bloc in the coming year. ,  Dave’sDaily: http://www.etfdigest.com [WELL FOUNDED] FEAR REMAINS.. November 10, 2011 ‘Rapidly changing news cycle, combined with HFT algos …As has been routine, previous data was revised higher from 397K to 400K, and given this pattern, you should expect current data revised higher next week…’ What First Time Unemployment Claims Data Is Saying About the Economy   Lee Adler Nov 10, 2011 ‘…Purely by accident, the real number this week wasn't too far off at 398,753, but that was an increase from last week's 369,647, not a decline as shown in the cartoon numbers. Furthermore, it was about 70,000 more than at the seasonal low reached the last week of September. While this year's seasonal low was lower than last year, and this year's increase since then was less than last year's, how that led to the proclamation that this week's number was the lowest in seven months is beyond my comprehension. It's just a meaningless, and false, number spit out by a statistical rhythm…’  Famed economist predicts economic calamity in 2012. See the evidence.   http://w3.newsmax.com/a/aftershockb/video.cfm    ,     These 4 things happen right before a heart attack. newsmax  http://www.newsmax.com/Newsfront/silent-heart-attack-symptoms/2011/09/23/id/412086     ,  50% unemployment & 90% Dow crash also predicted. Newsmax   http://w3.newsmax.com/a/aftershockb/video.cfm      ,    http://www.economist.com/content/global_debt_clock is ticking!   Analyst Sees 3% More Downside On Dow As Cyclicals Lose Momentum Barrons.com (Wed, Nov 9) [ Is that all? Sounds like a fraudulent wall street wet dream! Far more reliable analysts predict much lower, infra.  ]  , There Is No Solution for Europe”: Stocks Tumble as Italian Yields SurgeThe Daily Ticker (Wed, Nov 9) ,  PERVASIVELY CORRUPT, DEFACTO BANKRUPT AMERICA IS A TOTAL FRAUD IN THE INDUCEMENT AND FACTUM. #9. (see infra) World’s Largest Drug Dealer: The American empire is the largest drug dealer in the world!  Say it isn’t so. Well, in addition to forcing legal drugs and genetically modified organisms on nations, usually under the cover of foreign aid, America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA   ,  http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related  ,  http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related  ,  http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related  ,  http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related  ] , colluding with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html   ] to control the industry, and now openly protects and transports opium from Afghanistan  [  http://www.youtube.com/watch?v=ElEciFI0Pew  ] .  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [  http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world  ]  ; up 61% compared to 2010 to a whopping 5800 tons.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever. [ website archived links http://albertpeia.com/uscocainedistributionfiles.htm  ] , Dave’s Daily http://www.etfdigest.com  ‘Perhaps this is now the “no news is good news” market since a rally on Berlusconi’s resignation is beyond irrational. But, we’re long so I shouldn’t complain too much even though emotionally there isn’t much to like overall. The only bullish thing is the action of the tape and this is the season when bulls can make their year. Speaking of HFTs and algos, HFT issues are thoroughly covered with HFT Alert founder Steve Hammer and myself in the video interview below. The presentation contains two parts: the first outlines HFT basics—how they work and their controversial impact on financial markets. The second part we discuss how traders can benefit or make money by using HFT Alert’s unique trading services. http://www.youtube.com/watch?feature=player_embedded&v=NzfmT4vGXZY [ ‘Off to the golf course’, indeed. Those are Mr. Hammer’s concluding remarks. Not because he’s a trader, but because he’s selling this ‘very functional in terms of what’s going on’ package. The truth is that even today, at lightning speeds, there are very few successful traders (as distinguished from investors, and there is a huge distinction, though much less so today)(over the longer term and is akin to the apposite old adage, ‘you can win a race but you can’t win at the races’). Indeed, some companies / brokerages employ them just for the volume / commissions they produce. Most telling, in this video, is the beginning wherein it’s explained that in literally a second(s), mere quotes can give rise to revenue (as with commissions, pieces of the action) which has to come from someplace. The problem is that ultimately, this ‘churn-and-action’ computer programmed action at ‘lightning speed’ is parasitic inasmuch as it is without any economic utility whatsoever in real economic terms as are commissions in ‘after-market stock trading’ (as distinguished from initial ipo’s) that are tantamount to a tax on the real economy; hence, the benefit to the frauds on wall street at the expense of and to the detriment of main street, taxpayers, and the populace in general, as we’ve seen and continue to see. Remember, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. They’re just not that important and represent, like termites eating away at the nation’s foundation, a drag on the economy, the nation as one would expect from parasites such as they are’. What to Expect Next From the Markets Minyanville  Jeffrey Cooper ‘Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and Caterpillar { Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’} Then there’s the fed complicity in these various wall street scams by way of QE’s / dollar debasement which of course benefits the frauds on wall street to the detriment of literally everyone else. ]So, as indicated stock prices shot higher on the Berlusconi news. Gold prices saw some profit-taking, the dollar was weaker, commodities stronger and bonds weaker.Volume was on the light side and breadth per the WSJ was quite positive…’  ,       Dave’s Daily http://www.etfdigest.com  ‘Perhaps this is now the “no news is good news” market since a rally on Berlusconi’s resignation is beyond irrational. ,  U.S. Auto Sales And Consumer Credit Hard To Reconcile   http://www.bullfax.com/?q=node-us-auto-sales-and-consumer-credit-hard-reconcile   ‘The last number in the Fed consumer credit report for new car loans is for the first quarter of 2011, and it showed a decline of 2.73% from the fourth quarter of 2010. Yet new auto sales for the same period increased 3.97%. Fascinating.’ , Barclays Says Italy Is Finished: "Mathematically Beyond Point Of No Return"Bond dumping and Berlusconi  Pivotfarm : 11/08/2011 - 08:18 BNP Paribas SA and Commerzbank AG (CBK) are unloading sovereign bonds at a loss, leading European lenders in a government-debt flight that threatens to exacerbate the region’s crisis. BNP...’ , Trouble Ahead: Employment, Inflation, and the Fed Minyanville Jeff Harding , Embarrassing Blunders Wall Street Loves to Hide ETFguide  Maierhofer , SPDR Dow Jones Industrial Average ETF Experiences Big Outflow  Forbes , ETF Fund Flows: SPY Bleeds $1.14 Billion IndexUniverse.com , Got PrimeX Short?: Half The Country's Mortgages Are Underwater , As Geithner Says Supercommittee "Holds Key To Rebuiling Confidence" Supercommittee Says "Trillions Of Dollars Apart" , Wikileaks Exposes German Preparations For “A Eurozone Chapter 11″ Zero Hedge | A worst case scenario, says Mayer, could be that Germany pulls out of the Eurozone altogether in 20 years time. , Italy borrowing rates hit record The Italian government's borrowing cost rises on fears over political uncertainty, with 10-year bond yields hitting a euro-era high of 6.64%. , Are RBS And NatWest The First Victims Of “Bank Transfer Day” Zero Hedge | Earlier today we received the following email from a reader: “RBS systems are down today – ALL of them. , Euro-Kaput: ‘Euro could be dead by end-November’ Russia Today | Greek PM George Papandreou is aiming to form a coalition government and push through an international bailout package. ,  HFT TRADING RULES MONDAY  Dave’s Daily:  http://www.etfdigest.com  11-7-11 ,  Italy: Too Big to Fail, Too Big to Save? Nov 7th, 2011 (CNBC) , Italian Debt Crisis Has Global Markets on Edge. Here’s Why It Matters to You JK Comment: The Daily Ticker guys offer some interesting insight on the evolving situation in Europe, and how “contagion” may not be limited to the shore’s of Europe.’ , Presenting The Latest Eurodebt Exposure Masking Scam Courtesy Of Morgan Stanley: Level 1 To Level 2 Transfers Here Is Today's 3pm Rumor... In true save-the-market style, as 3pm ET comes around we have another rumor from Europe. This time it purports to be the creation of an investment fund, as a subsidiary of the EFSF, which will 'attract' external capital sources, via tranching of returns, to enable the purchase of sovereign debt in primary and secondary markets. Headlines, via Bloomberg, for now suggest this is yet another strawman…’ ,  No smoking gun: IAEA Iranian nuclear report falls flat on its face Patrick Henningsen | The IAEA report has come up short, but the Axis powers are still desperate to hit Iran  ,  10 Reasons America Will Be Judged as the Most Brutal Empire in History   http://www.prisonplanet.com/10-reasons-america-will-be-judged-as-the-most-brutal-empire-in-history.html Activist Post | Good and evil doesn’t have a grey zone.. America and her Western cohorts will likely be viewed as the most brutal empire in history.. Although this empire is infinitely more powerful than Rome was, it will suffer the same fate.  For every negative action the empire commits, there’s an equal and opposite good reaction. And the goodness of humanity will always defeat tyranny when it goes too far.  However, an empire with so much to lose will go down swinging and slinging every weapon in its arsenal, thus putting the final stamp on their status as most brutal empire in history.’  ,  Greek Debt Crisis: Mark II of the Plan for a Greatest Depression Kurt Nimmo | HSBC, a prized bankster asset connected to the City of London, warns of a global depression. , Hit With Big Withdrawals, Fed Sells Assets, Borrows Cash  ilene 11/06/2011 ,  Fed Underestimated Economy's Weakness: Kohn TheStreet [ Another ‘duh!’ moment from the fraudulent fed! ] , Tempted by Europe? Don’t Be -  http://www.theglobeandmail.com/globe-investor/markets/markets-blog/tempted-by-europe-dont-be/article2228163    ,   Europe. Is. Finished.  Phoenix Capital... 11/05/2011 ‘Europe is finished. The region’s entire banking system is insolvent (with few exceptions).’  Earnings Warning Ratio Highest In a Decade The Wall Street Journal ‘…In other words, even as the market has rallied, the outlook for earnings has gotten worse.’ , Minyanville's T3 Weekly Recap: Market Breaks Streak of Weekly Gains, Focus Shifts to Italy  Minyanville ,  The Chart That's Forecasted Every Major Move Correctly Since March 2011  Simon Maierhofer 11-4-11 ‘…major indices may just be chopping around for another week or two before heading south for the winter…’ , SPX and NDX Update: Top May Be In as Retracement Rally Hits Targets  Jason Haver , Handicapping a Global Market Meltdown  Minyanville  ,  Extreme Poverty Is Now At Record Levels – 19 Statistics About The Poor That Will Absolutely Astound You The Economic Collapse ,  Insider selling surges — CBS MoneyWatch , Greenspan Suggested Cutting Taxes on the Wealthy to Increase Debt so the Fed Wouldn't "Lose Control of Monetary Policy"   George Washington , First Time Unemployment Claims Increase But Less Than Usual  : ilene : 11/03/2011 - There's just one minor problem.   http://www.zerohedge.com/contributed/first-time-unemployment-claims-increase-less-usual   Courtesy of Lee Adler of the Wall Street Examiner "Fewer people applied for unemployment benefits last week, a hopeful sign that the job market might be picking up," trumpeted the AP, in a news item picked up by news organizations across the US and the world. There's just one minor problem. First time claims actually increased by 9,361. The AP, and everybody else, reports a fictitious number, the seasonally smoothed fantasy. They do that because they figure that readers are too stupid to compare this week's performance with the same week in previous years to see if the economy is doing better or worse. I hold no such preconceived notion. If you are smart enough to be reading this report, then you are smart enough to be able to compare actual numbers, as opposed to the fake pablum spoon fed to you by the economics punditocracy…’ , Unique Historic Precedents Suggest Lower Prices    http://finance.yahoo.com/news/Unique-Historic-Precedents-etfguide-1382828970.html?x=0&.v=1  ETFguide Simon Maierhofer, November 3, 2011  , Europe is doomed — Felix Salmon  http://blogs.reuters.com/felix-salmon/2011/11/03/europes-doomed-fate    This is beginning to feel like 2008..’, Because Central Banks Just Aren't Enough: G-20 Will Ask IMF To Print Reserve CurrencyFour months ago we predicted that in response to the latest round of global economic deterioration, every central bank would very soon join the toner party., Today's Joke Du Jour Comes From Italy's Biggest Bank, UniCredit , SEC Opens Investigation Into MF Global Insider Trading, Ignores Glaring Evidence Of Client Capital Commingling, Hugh Hendry Channels Irony And Paradox In His Latest Financial Outlook  ‘..So what’s next? A crash, of course..’, As Repeatedly Warned, Quarter End Window Dressing Key Factor In MF Global's Demise Citi: "The Bear Market Rally Is Behind Us; We Anticipate A Move To 1,000-1,015"Fed lowers GDP forecast, raises unemployment projections, mulls more inflation producing, failed, futile, wall street fraud-friendly action to the detriment of all others which rallies those ever more worthless as with dollars ‘pieces of paper’ (actually not even, just ‘over-counted/supplied computerized ‘ledger’ entries) for the ubiquitous as in the last financial fraud debacle) for the continuing High-Frequency-Trade churn-and-earn (Reuters) , Market Recap: Banks Rally Back, Fed Outlook Worsens [jersey based, former lautenberg adp data’s as worthless as that from the scandal-scarred commerce dept. et als, ie., factory numbers; then, the labor dept.’s fake report, estimates, numbers, including the b.s. service sector, etc..) Wall St. Cheat Sheet  , Fed foresees far weaker growth than it had earlier , MF Global Client Theft Estimate Doubled To $1.5 Billion?Game Over Berlusconi? Italian Anti-Crisis Bill FailsEgan Jones Downgrades Jefferies On Concerns About Sovereign Exposure Amounting To 77% Of EquityGuest Post: MF Global Shines A Light On Monetarism's Incapacity To Enhance The Real Economy , Will Spiking Vol Drag Global Growth Down? [Short answer: YES! The HFT churn and earn is parasitic, benefits the frauds on wall street only, and ultimately must ‘come from some real place’ (ie., main street, taxpayers, etc.)]    The Greco-Franco Bank Run Has Skipped the Pond, Landed in NY/Chicago and Nobody Noticed, Exactly As I Predicted! Reggie Middleton 11/01/2011 ‘We just experienced a bank run in the US that I have been warning of for months on end. A bank run that resulted in this country's 8th largest bankruptcy,,, ever - and nobody even noticed.’ ,  How US Banks Are Lying About Their European Exposure; Or How Bilateral Netting Ends With A Bang, Not A WhimperKeeping Up With The Korzines In The Kooler: FBI To Investigate MF Global's Theft Of Client Money , US construction spending +0.2% in Sep, below market expectations of +0.3%, vs 1.6% Aug. Nov 1st, 2011  ,   US ISM fell to 50.8 in Oct, below market expectations of 52.0, vs 51.6 in Sep. Nov 1st, 2011   Guest Post: Fed Trapped By InflationKeeping Up With The Korzines In The Kooler: FBI To Investigate MF Global's Theft Of Client Money , US Food Stamp Usage Hits New RecordThe Coming Derivatives Crisis That Could Destroy The Entire Global Financial System The Economic Collapse , The REAL $200 TRILLION Problem Bernanke’s Worried About  Phoenix Capital... ‘US Commercial banks have $200 TRILLION in interest rate based derivatives sitting on their balance sheets. And guess which banks have the greatest exposure…’ ; and, finally the coup de gras ,  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion’,  Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Moneynews) http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1  ,   http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR   Mf global, plus mob infested jersey former governor, plus fraudulent wall street, plus mob strong new york, plus rich mob history Chicago, equals fraudulent scheme / theft / scam in the making and then reality! Someone Is Going To Jail For This: MF Global Caught Stealing Hundreds Of Millions From Customers? Graham Summers’ Weekly Market Forecast (Wake Up Call Edition)  Phoenix Capital... 10/31/2011 The markets flew into this deal based on rumors and short-covering and are now waking up to the plain obvious facts that you cannot solve a debt problem with more debt. ,  Panic Behind The MF Scenes As Company Refuses To Disclose Information To Regulators Even In DeathAre Investors Buying on False Hope? Minyanville  ,  Markets Remain in Cyclical Bear Market  Kevin Tuttle  [ Actually this is a secular bear market with much worse to come! ] ,  U.S. and Europe … “Self-Induced Stagnation,” says Economist Editor The Daily Ticker , Why Last Week's Euro Fix Won't Do the Trick ETFguide Maierhofer , Corzine's MF Global collapses under euro zone bets , Are Ratings Agencies Taking Bribes?Wall St. Cheat Sheet [ One way or another, from all 3 branches of u.s. government to u.s. businesses coast to coast, wall street to main street, they’re all getting / taking bribes! ] , SPX and NDX Update: A Disturbing Look at Fundamentals, and the Rally Explained  Jason Haver Oct 31, 2011 ,  China Says Not So Fast On Rescue   http://www.thestreet.com/_yahoo/video/11292710/buy-and-hold-is-dead-buy-and-hedge-instead.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1250281566001   , MF Global Caught in Death Spiral , Sell H-P! Against the Grain 10/31/11   ,   Europe Will Make Lehman Look Like a Joke   http://gainspainscapital.com/?p=1010  Summers 10-28-11,  Be Honest – The European Debt Deal Was Really A Greek Debt Default  : ilene : 10/28/2011 - 2012 looks like it is going to be an extremely painful year. [ Yes! Very painful! I believe Dave was the first ‘to get this’ in passing yesterday; and, thinking on it more, I believe this charade cheered particularly by the frauds on wall street (and surprisingly germany) was for the purpose of ‘voluntary’ to avoid the Credit Default Swap trigger. Yet, the real bad news is that, even worse than as with the last financial debacle, owing to the greed-driven, commission/fee generating churn and earn of innumerable, bogus, worthless, levered, negatively valued on event financial instruments at computerized lightning speed, the commission-generating paper is beyond the frauds’ abilities to account for; and not just the CDS’s ( ETFs have potential to become the next toxic scandal Sep 19th, 2011 News (The Telegraph) Financial Stability Board (FSB), an international super-regulator, wrote a prescient if less than catchily-titled paper “Potential financial stability issues arising from recent trends in Exchange Traded Funds (ETFs)”..warning – ETFs are not the cheap and transparent vehicles the marketers would have us believe ..no one who read the FSB report was surprised to see the words ETF and rogue trader in the same sentence… half of the ETFs in Europe today do not match the index they are designed to track by holding all of its constituent shares.. Derivative trades add a second layer of uncertainty .. the counterparty risk that the organisation on the other side of the contract might go bust. Even worse, the provider of the ETF might sometimes be a part of the same organisation as the derivatives desk carrying out the swap…For reasons which I’m not sure I could explain even if I had the space, it is possible for the number of shares sold short in an ETF to massively exceed the actual number of shares available.’).  Not only is it that The Greek Deal Accomplishes Nothing… Systemic Risk is Coming   http://gainspainscapital.com October 27th, 2011   (Yes! It’s happened again. No … not just the (Weimar) funny money and rally as in the great depression followed by the inevitable bust /crash Parallels to The Great Depression Suggest Higher Prices Followed by a Bust ETFguide Simon Maierhofer, October 25, 2011), but  , Dave’s Daily http://www.etfdigest.com/davesdaily  ‘The only thing wrong with the image above is that it’s from March 2010, or on one of many previous plans agreed upon. But, markets don’t care about this and just thirst for any deal even if memories remain short.. HFT algos are programmed to pounce on these presumed fixes and have been active in driving stock prices higher this past week. Let’s face it; this is the time of year bulls can make their year with good fees and bonuses on the line…’ , Dave’s Daily:  http://www.etfdigest.com  ‘The above image displays quotes per second coming from HFT (High Frequency Trading) systems http://www.etfdigest.com/images/stories/davesdaily/1866/image002.jpg    http://www.etfdigest.com/images/stories/davesdaily/1866/image002.jpg    . The two graphs display action towards the close of trading Friday. The upper graph shows action of “algos” per second while the bottom the number of HFT quotes per second over a three minute time period with colors for each exchange. The lower graph displayed nearly 300 quotes per second—got that? Perhaps only a small fraction of these are real trades with the others being just bids and offers designed to stimulate program trading algorithms. This is posted because nearly 70% of all volume and trades on the NYSE for example are program trades with HFTs now dominant.   Then there’s the reality / folly that the mental case with the funny / odd little mustache has been displaced by another ubiquitous fraud of collectively the ‘multiple mental cases modern day equivalent variety’; viz., the bourse, bourses, ‘boursers’, stock exchanges, ‘market fraudsters’(wall street particularly), and their lightning fast, high frequency trading computers(‘ programs). After all, the already undercapitalized banks are now 50% more undercapitalized (those Yule Brynner hair cuts are a b**ch); there’s good money after bad; and square pegs are, for the nonce, ‘fitting’ into round holes. Nothing’s been solved and there’s much worse to come! Take this as the ‘gift’ (to stock markets everywhere, ultimately paid for by main streets and taxpayers everywhere) [Market Now Overbought: Birinyi The Wall Street Journal ] it was meant to be and sell, take profits, since this ‘microcosm of the crisis’ was never the real reason for lower markets but merely at best a symptom of [ at worst a scapegoat for ] these great depression-era times, the worst of which will be seen. It’s coming! Funny money will just exacerbate the inevitable! This may sound like a platitude; but, fundamentals and reality still count!  Is It Foolish to Get Excited About the Latest Deal to Save Europe? ETFguide    http://finance.yahoo.com/news/Is-It-Foolish-to-Get-Excited-etfguide-2444921710.html?x=0&.v=1   Simon Maierhofer, 10-27-11 [Short answer: YES! ] . The looney loonie now exceeds the value of the ‘funny-money’, debased dollar (who coulda / woulda have ever thunk it). Inflation, Jobs, and the Artificial Flow of Monetary Policyat Minyanville  Bad news and b***s*** (as in no plan plan) across the board (and sea) … yet stocks rallied …US durable goods orders -0.8% in Sep, near expectations, vs -0.1% Aug. Oct 26th, 2011 by News , Paper currency has too much bull, not enough bullion Oct 26th, 2011 by News (Globe and Mail) — Sir Mervyn King, governor of the Bank of England, ordered up another $300-billion (U.S.) in easy money earlier this month, then mentioned, by way of explanation, that we are living through the most serious financial crisis since the Great Depression – “if not,” he said ominously, “ever.” Sir Mervyn’s warning was only marginally more sobering than the collective warnings of Prime Minister Stephen Harper, Finance Minister Jim Flaherty and Bank of Canada Governor Mark Carney.This is not to mock. These men know enough not to scare people out of their wits unless it necessary to do so. So the question is, what do these people know that the rest of us don’t?More related to this story:To put Sir Mervyn’s warning into its historical perspective, it must be noted that “ever” goes back a long way. The biblical record cites one calamitous meltdown 4,000 years ago, “when money failed in the land of Egypt.” Did Sir Mervyn deliberately or inadvertently include the financial crashes of antiquity in his portentous warning? Isn’t it the failure of money that now threatens the world? [source] Euro Zone to Quadruple Bailout Fund: Sources Oct 26th, 2011 by News (CNBC) — … [source]PG View: Leverage is very much a double-edged sword, also capable of amplifying losses. Nobody ever seems to talk about that. Of course Europe can always bailout its bailouts…  STOCKS TANK BEFORE EU MEETING THAT EVERYONE EXPECTS TO FAIL: Here's What You Need To Know Business Insider [ No …this is not quite correct … the point being there’s nothing they can do to make it (other than the meeting in and of  itself as ‘a much ballyhooed  event’) succeed!   Graham Summers’ Weekly Market Forecast (Stocks Are Last to Get It Edition)  ‘…So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding …’,  Four Facts that PROVE the EFSF Doesn’t Matter… At All  Phoenix Capital 10/20/2011Four Facts that PROVE the EFSF Doesn’t Matter… At All  -  ‘.. And those investors who get suckered into betting this mess will work out well are very likely going to lose everything. The impact of the fallout from this will make 2008 look like a joke. The EU is the largest economy in the world. So if its banking system collapses (and it will) we’re facing a full-scale Global financial meltdown (the IMF has even warned of this)…’ ,  Parallels to The Great Depression Suggest Higher Prices Followed by a Bust ETFguide Simon Maierhofer, October 25, 2011  Investors' Number One Worry: Europe Posed to Bring Down Global Economy  Minyanville [ Riiiiight! Europe following the ‘american way’ of  ‘insurmountable debt, funny money and wall street fraud, and throw in a destructive, wasteful war or two or three’  is ‘ the one’ … to reiterate: America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion   ], Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal  T3Live.com Oct 24, 2011 ‘Now may be a good time to take some profits after a strong October run in the market…’, 10 Reasons The Consumer Will Sink This Rally http://www.bullseyemicrocaps.com/?p=13626   Bret Jensen , United States tipped to lose another AAA credit rating Reuters | Either from Moody’s or Fitch , Can The Hope Rally Continue? [ Short answer: NO! ] , Graham Summers’ Weekly Market Forecast (Stocks Are Last to Get It Edition)  ‘…So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding …’, Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal  T3Live.com Oct 24, 2011 ‘Now may be a good time to take some profits after a strong October run in the market…’, 10 Reasons The Consumer Will Sink This Rally http://www.bullseyemicrocaps.com/?p=13626   Bret Jensen , United States tipped to lose another AAA credit rating Reuters | Either from Moody’s or Fitch , Can The Hope Rally Continue? [ Short answer: NO! ] , Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Moneynews) http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1  ,   http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR ,  ECRI Recession Watch: Growth Index Drops Further   http://advisorperspectives.com/dshort/updates/ECRI-Weekly-Leading-Index.php Doug Short 10-21-11 ‘The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) has now posted 11 consecutive declines since early August. The interim high of 8.0 was set in the week ending on April 15. The latest reading, data through October 14, is -10.1, down from the previous week's -9.7. On September 30th, the ECRI publicly announced that the U.S. is tipping into a recession, a call the Institute had announced to its private clients on September 21st. ,  Earnings forecasts look less bright NEW YORK (Reuters) - Prospects for corporate earnings are dimmer in the coming quarters -- even though reports so far this quarter have been relatively bright. [ Relatively bright? Only because most are not relatively bright having failed to yet ‘catch on’ to this nation-debilitating, but wall street favored defacto fraud. The ‘miracle’ of ‘funny money’ wherein the ‘debased currency strategies’ (ie., QE’s, etc.) among other accounting manipulations lead to ie., costs reported in ‘more valuable but fewer dollars’ and sales / revenues reported in debased dollars (simply more of them, but no real value created, profits overstated in real terms). ] , Banks closed in Colo, Fla, Ga; 84 failures in 2011 AP , With Some Hope In Europe, Time To Go Short? Forbes   Steve Schaefer, Forbes Staff  ‘European leaders are gathering Sunday and Wednesday in meetings aimed at hashing out an expansion of the region’s bailout fund and recapitalizing banks, but with expectations for a solution rising the risk of a less-than-comprehensive plan rattling markets may be growing...“The bar is set too high,” he believes, arguing that even if the market rallies on a deal being reached, the implementation of whatever resolution plan is adopted will be cumbersome and ultimately amount to “solving a problem of debt with more debt.” When the market realizes that, October’s 9.5% gain to date could unravel in a hurry. The recent stage in the too-rapid rise to current levels is largely a result of short-covering and investors who missed the initial stage of the recovery jumping on board…’ , Dead Stocks Walking smartmoney.com,  S&P sees downgrade blitz in EMU recession, threatening crisis strategy Oct 20th, 2011 News By Ambrose Evans-Pritchard (The Telegraph) , Euro Summit Imploding: Merkel Cancels Friday Government Statement On EFSF Student Loan Bubble To Exceed $1 Trillion: "It's Going To Create A Generation Of Wage Slavery" And Another Taxpayer Bailout Durden ‘..All we need to do is teach people that Washington D.C. and Wall Street are now the same corrupt entity.  They are one gigantic rogue trader sucking the lifeblood out of America..’ , , As growth lags, IMF warns of downturn After warning that high debt needed immediate attention, the organization is now urging countries to look for ways to boost growth amid concerns that austerity might bring renewed recession. Euro drops as Germany seeks no quick resolution (Washington Post) [ Duh … ya think?  43,454,601,693,238 Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock Zero Hedge | By now everyone has had a chance to play with the US debt clock. But what about its global cousin?   Is the US Economy in a Recession? thetechnicaltake ‘A simple indicator constructed from readily available data is suggesting with great certainty that the US economy is already in a recession.’ , US to Experience Stagflation Worse Than 1970s: Jim Rogers CNBC , Jeff Applegate: Not Sheepish About Turning Bearish  The Wall Street Journal  Jonathan Cheng ‘Last week was a tough time to turn bearish. Since hitting a bottom on Tuesday, the Dow Jones Industrial Average has jumped by 11% in less than two weeks, raising hopes among some investors that the U.S. and Europe may be able to power through their summertime woes. Not for Jeff Applegate. Mr. Applegate, the 61-year-old chief investment officer of Morgan Stanley Smith Barney, last week made his biggest bearish shift in more than two years, battening down the hatches and reducing his exposure to stocks, high-yield bonds, commodities and real-estate investment trusts…’, Fed should adopt GDP target, Goldman says Oct 17th, 2011 News (MarketWatch) — The Federal Reserve should target the level of gross domestic product, Goldman Sachs economists said ahead of a wave of speeches from central bank officials.In a note published Friday night, Goldman Sachs said the best way for the central bank to loosen policy significantly further would be to target a GDP path, and commit to using more asset purchases to achieve that path.“While a shift to a nominal GDP level target would be a big decision, it would be consistent with the Fed’s dual employment and price mandate,” the economists wrote.[source] PG View: [Talk about self-serving disingenuity that along with their frauds, goldman’s come to be known for! Goldman, like the lunatics at salomon brothers should be out of business and vigorously prosecuted; having in large part helped create this crisis which continues with their dollar debased HFT’s. (‘Salomon Brothers' success and decline in the 1980s is documented in Michael Lewis' 1989 book, Liar's Poker. Lewis went through Salomon's training program and then became a bond salesman at Salomon Brothers in London.’Wikipedia. Acquired by Travelers / Citi. ] A timely position taken by Goldman Sachs in light of the inflation piece written by John Mauldin on Saturday. Yes, it does indeed seem that “inflation as a solution” is gaining traction. I say tom-a-to, you say tom-ah-to. I say inflation targeting, you say GDP targeting. Whatever you call it, it’s synonymous with dollar devaluation and you best be saving in something other than dollars if you hope to come out the other side unscathed.Can “It” Happen Here? Oct 17th, 2011 News By John Mauldin15-Oct (JohnMauldin.com) — I was inspired for this week’s letter by a piece by Art Cashin (whom I will get to have dinner with Monday). His daily letter always begins with an anecdote from history. Yesterday it was about Weimar, told in his own inimitable style. So without any edits, class will commence, with Professor Cashin at the chalk board.[Cashin's recounting of the nightmare German inflation, which we posted last week.]…”,  Full moon October 10-14, 2011 … I’ve examined the weekly results for the global markets … Conclusion: The global euphoria, irrational exuberance in the financial markets worldwide, courtesy of the blazing full moon October 10-14, 2011 ; and yes, the lunacy once the exclusive province of fraudulent wall street is now a global phenomenon (10th near full beginning, 14th near full ending). ,  The More Government Spends, The Worse It Gets  , Balance Of Fundamentals Will Continue To Weigh On Market  ,   ECRI Recession Watch: Growth Index Declines Further  http://www.bullseyemicrocaps.com/?p=11699  By Doug Short: The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) has posted 10 consecutive declines since early August. Early last week, ECRI notified clients that the U.S. economy is indeed tipping into a new recession. And there’s nothing that policy makers can do to head it off , US budget gap widens, tops $1 trln for 3rd year Reuters ,  A New S&P 500 Low Still Awaits Us  Minyanville  Erik Swarts Oct 13, 2011 ‘Watch the SPX as the market comes to terms with the continuing crisis in Europe , America's Lost Decade Will Last Until 2016 [ This is extremely optimistic! ] Forbes Lenzner , Harrisburg, Pa Files for Bankruptcy: Is Meredith Whitney Right? [ Short anwer: Yes! ]  Peter Gorenstein , The Structural Challenges Facing Muni Bonds  Minyanville , IRS Auditing How GOOGLE Shifted Profits Offshore to Avoid Taxes Bloomberg , Europe eyes bigger Greek losses for banks , Markets Are Dealing With a Foreboding Financial Backdrop  Minyanville   Lee Adler Oct 12, 2011 ‘..especially, why have they been frantically dumping their corporate holdings since June? http://image.minyanville.com/assets/FCK_Jan2011/Image/October11/12/la10122.JPG Something is rotten here. These are signs of major systemic stress.. This may be one of those times, and it's not a happy picture..’ , Double-Dip Recession a Foregone Conclusion: Roubini Oct 11th, 2011 News (CNBC) — ‘The world’s advanced economies are headed for a second recession, regardless of whether there is further chaos in Europe, Nouriel Roubini told CNBC on Tuesday. The economist who correctly predicted the 2008 financial crisis…’, Slovakia votes down eurozone bailout expansion plans Oct 11th, 2011 News (BBC) , Euro About to Dissolve? Oct 11th, 2011 News Patrick A. Heller (NumisMaster) — “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever., ROUBINI: The Recession Is Guaranteed, The Only Question Now Is How Bad It Will Be Business Insider | Nouriel Roubini sees bad times ahead for the economy. , Nobel Prize Winning Economist Who Supports Wall Street Protests SLAMS the Federal Reserve Washington’s Blog | Nobel prize winning economist Joe Stiglitz – like many other high-level economists – supports the “Occupy Wall Street” protests.  Graham Summers Weekly Market Forecast (Dexia Now... Who's Next? Edition)    http://www.zerohedge.com/contributed/graham-summers-weekly-market-forecast-dexia-now-whos-next-edition THIS BEAR MARKET IS NOWHERE NEAR OVER. , We Are Still Early In This Bear Phase   http://www.bullseyemicrocaps.com/?p=10478  Roger Nusbaum  Stocks Surge On New Promises From European Leaders, Dow Adds 300 Points  [ Come on! Wake up! Two desperate, failed politicians who haven’t the slightest idea what they’re doing; certainly in the areas of finance and economics. Indeed, they’ve borrowed from a page in the fraudulent wall street / defacto bankrupt american book of failure and fraud in banging ‘square pegs in round holes’ along with nation-draining fraudulent obfuscation with b***s*** alone that hearkens back to that ’Weimar dollar’ era that was precursor to and inevitably led to the inflationary / no real value collapse now underway as is already the scenario in america. How totally desperate and pathetic they are. This is cheered by the wall street types / frauds to enable them to favorably  cash out. Take your profits while you still can, protect yourself while you still can, this fraud – induced collapse is just beginning. New ‘promises’! Currency-debased high inflation rally!  What a joke they’ve become! ]   “The Prevailing Debate Among Economists and Historians is Whether the World Economy Faces the ‘Great’ Depression of the 1930s or the ‘Long’ Depression of the 1870s” Washington’s Blog | Economists Agree: We’re In a Depression.  Fitch cuts Italy, Spain ratings; outlook negative , Wall Street vs Reality: A Hopeless Tug-of-War?  http://symmetrycapital.net/index.php/blog/2011/10/wall-street-vs-reality-a-hopeless-tug-of-war  Are Wall Street strategists living in a bubble? [ The short answer is, ‘YES’! The long answer is your work is quite (closer to) correct (and worse when dollar debasement is factored in).]  According to our work, credit market, demographic, and leading economic  indicators are all pointing to a level of between 800 and 1,000 for the S&P 500 between now and 2012-2013.   Hold Your Enthusiasm ... This Is Still A Bear Market Rally    http://www.bullfax.com/?q=node-hold-your-enthusiasm-still-bear-market-rally, 10/06/2011 ,  Yield Spread Confirming Recession Call http://www.zerohedge.com/news/guest-post-yield-spread-confirming-recession-call ,  U.S. stocks' massive "melt-up" fans investor fears Reuters October 5, 2011, By Edward Krudy NEW YORK (Reuters) - In less than one hour on Tuesday, the U.S. stock market surged by 4 percent -- for no apparent reason ,  Play It Again Sam: Dave's Daily ‘ ... The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job. One of these actions was featured courtesy of our friends at Zero Hedge and depicted below as it occurred Thursday afternoon. The first chart features the quotes per second (NOTE: one instance exceeding 800 quotes per second). The next chart shows the market's simultaneous reaction.  http://www.thestreet.com/tsc/daves/082511/image002.jpg  ( Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events .. “the new recession has started.”… Over the past 33 years, we have called the start of every recession..Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation..is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’ )( ,  6 Reasons a Global Recession is Unavoidable  Ron DeLegge, October 5, 2011, Dem.lautenberg’s jersey based ADP helps the desperate dem’s cause with 100% better than expected (false) private sector jobs report (Announced U.S. Job Cuts Rise 212% From Year Ago Bloomberg) , Gabriel Wisdom to Frank Motek of 1070amBus.Rept. says this is a bear market and we’ll see market lows in 2012. [video] Nervously Eyeing 50% RetracementTheStreet.com Mark Newton , Moody's Downgrades Italy By Three Notches The Wall Street Journal ,  Greek Bailout May Include Larger Writedowns for Private InvestorsWall St. Cheat Sheet . Enormous, last hour 370+ point upside suckers’ rally into the close based on b***s***, rumour (more ‘good money after bad’ bailout goin’ greek in the eu zone), nothing at all (pushed a button, ran a buy program?) to suck suckers in and keep suckers sucked in based upon as previously questionable if not outright fake, ‘upward-revised’ (based on inflation-spiked price increases at best) data also, ‘the data don’t distinguish between Americans who stop receiving benefits because they find jobs and those who fall off the unemployment rolls because their benefits expire- WSCS THE GREATEST SHOW ON EARTH  September 29, 2011   http://www.etfdigest.com ‘…Algos jumped on the headlines which is what they’re programmed to do. They don’t look under the hood for details since given their momentary focus, “facts don’t matter”—not at least right away. A closer look inside Jobless Claims data is the consistent revisions for higher previous claims. This makes current reports generally seem better by comparison. Further, the BLS states with this report the significant impact of “seasonal factors” skewing the report…’ ) . [  End of Quarter Price Mark-Ups; Dave’s Daily   http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-daily.html  Dave Fry  9-27-11 ‘All you need do is view the last week of June 2011, the previous quarter end, and you'll note a similar quarter end jam-job…’ ,  Bernanke calls unemployment a ‘national crisis’   28 Sep 2011 Fed chief Ben Bernanke said Wednesday that the nation’s weak labor market was “a national crisis” - Duh! No-recession-wall-street-lovin’-helicopter ben’s … done it again! … brilliant description of unfortunately what already is thanks in large part to his wall (fraud) street largess / welfare in the form of QE’s, etc. , Prepare for Lehman Brothers Part 2   ,  Arguments for Being in the Crash Camp   Conor Sen Sep 28, 2011  ,  Now's Not the Time to Take on Equity Market Exposure at Minyanville Erik Swarts Sep 28, 2011 ,  [video]Buying on Rumor - Prepare For The Selling On NewsTheStreet.com TV  , Roubini: U.S. in Throes of Economic Contraction Sep 27th, 2011 News (Bloomberg) , SHILLER: House Prices Probably Won’t Hit Bottom For Years Sep 27th, 2011  News (BusinessInsider) , Split opens over Greek bail-out terms Sep 27th, 2011(Financial Times) ,   The familiar fraud/pattern of end-of-month/quarter window dressing b***s*** story of ‘hopes’ (ie., americanized funny-money fraud in the eurozone, etc.) from the frauds on wall street …  Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’   , despite the reality of bad news , New home sales hit 6-month low, prices drop , Euro zone damps talk of rapid debt crisis steps , On the Lookout for a Red October Minyanville ‘ … Aside from history, if we take a look at the global environment, there are a handful of things suggesting that we will experience a turbulent October…’  ,    Suckers’ rally into the close to suck suckers in and keep suckers sucked in based on lingering hopes for unaffordably damaging funny money / QE ultimately taxpayer funded / borne bailout / welfare for these fraudulent ‘titans of capitalism’ on wall street, viz., nothing whatsoever ( watch for their fraudulent / illegal end of month/quarter window dressing )  , and bad news (  Soros: US Is Already in Double-Dip Recession CNBC.com  ,   Stocks: Don't Get All Comfortable Just Yet WS /Conway ,  Stocks Endure Worst Five-Day Slamming Since '08, Still On Edge About Greece Forbes , More Pain Is Coming To Equities  http://regator.com/p/253227580/more_pain_is_coming_to_equities  Penguin Capital Markets , David Cameron: world on brink of new economic crisis London Telegraph , Every Age Group Is Getting Poorer In America, Except For One Advisor Perspectives , Global economy pushed to the brink Sep 23rd, 2011 News Financial Times , European and US Economies Teetering on Weak Policy, Leadership Minyanville Kerr , Moody's downgrades 8 Greek banks (AP)  ,   Signs The Perfect Economic Storm Is Coming  http://www.bullfax.com/?q=node-signs-perfect-economic-storm-coming  ,   America’s debt woe is worse than Greece’s Sep 21st, 2011 News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks. Social Security can no longer afford to send us our annual benefit statements. The House can no longer afford its congressional pages. The Pentagon can no longer afford the pension and health care benefits of retired service members. NASA is no longer planning a manned mission to Mars. We’re broke for a reason. We’ve spent six decades accumulating a huge official debt (U.S. Treasury bills and bonds) and vastly larger unofficial debts to pay for Social Security, Medicare, and Medicaid benefits to today’s and tomorrow’s 100 million-plus retirees. The government’s total indebtedness — its fiscal gap — now stands at $211 trillion, by my arithmetic. [source]’  ,  $16 muffins, $8 coffee served in Justice audit , Market Recap: FOMC Announces Operation Twist, Banks Tumble, Investors Flee Sovereign Debt Wall St. Cheat Sheet September 21, 2011, Wall Street sinks 3 percent after Fed cites economic "risks"  NEW YORK (Reuters)  ,   Moody's downgrades big banks on changed policy  ,  Italy downgraded, IMF says Europe behind the curve  Reuters  ,  IMF downgrades outlook for US and Europe economies [Sep 20, 2011] ... Fund has sharply downgraded its outlook for the U.S. economy through 2012 ...  http://finance.yahoo.com/news/IMF-downgrades-outlook-for-US-apf-1240337037.html?x=0 much worse than expected:  Market Recap: S&P Downgrades Italy, Housing Starts Tumble, Markets Wait on funny-money no-recession ben bernanke   Wall St Cheat Sheet ,   IMF Downgrades Global Economic Outlook  ,  Drudgereport: IMF WARNS: INTO THE DANGER ZONE... ...warns of USA 'lost decade'  ,  New High: 37% Say Their Home Is Worth Less Than Remaining Mortgage Payments Rasmussen  ,  30 Signs That The U.S. Economy Is About To Go Into The Toilet The Economic Collapse  ,  A Fed IOER Cut Could Backfire on Banks, Warns Pimco  ,   3 Reasons Markets Were Up As Central Banks Stepped in to Boost Dollar Liquidity in European Banks Wall St. Cheat Sheet Today the Department of Labor announced that consumer prices had climbed twice what economists had predicted in August, while initial jobless claims jumped last week to their highest level since June. The Federal Reserve Bank of New York’s report on manufacturing in the region contracted more than expected in September, while its general economic index dropped to its weakest reading since November 2010, indicating that companies in the region covered by the New York Fed’s manufacturing index are cutting back. The consumer-price report also showed that hourly earnings fell in August in their biggest one-month decline since July 2008, while the cost of energy, food, healthcare, and shelter all rose.‘ ,   David Rosenberg: “It’s Time To Start Calling This For What It Is: A Modern Day Depression” Zero Hedge ,  Geithner: Economy In “An Early Stage” Of Crisis  ,  Flat retail sales keeps U.S. on recession watch ) fraud  / manipulated programmed hft (high frequency trades – see, ie.,  What to Expect Next From the Markets , Dave’s Daily, infra ) and b***s*** alone! [ Stock Market Secret Word of the Day Is 'Delusion' WSJ  ,  watch for fake data / reports out of their sheer desperation  ,  ‘american technology is horrendous and vastly overrated!’ I really mean it; and that’s reality, which speaks volumes about the pathetic state of the world , Minyanville's T3 Daily Recap: Market Squeeze Continues, But Was it a Trap?  By T3Live.com ‘Today's action … another clever ploy to suck in longs while relieving some of the oversold condition of the market’  ,  Don't Trust Wall Street and this Market  ETFguide ,  Congress budget agency warns panel of economic ills  ,  Nearly 1 in 6 Americans in poverty, Census says  ,  Cisco cuts long-term sales growth forecast  ,  International alarm over euro zone crisis grows  ,  Why Can't Wall Street Be Honest With The Public? Forbes  ,  Venture capital veteran Perkins sees danger ahead  , These Wall Street Firms are About to Start Firing People Like Crazy  ,   Same Alan Greenspan Who Warned Against Budget Surplus Now Warns About Deficit  ,  ETF Redemptions Highest Since 2008: Report ETF Trends , 20 Signs Of Imminent Financial Collapse In Europe The Economic Collapse ,  The 2nd Edge Of Modern Financial Repression: Manipulating Inflation Indexes To Steal From Retirees & Public Workers Gold Seek  Lawless America: 20 Examples Of Desperate People Doing Desperate Things The American Dream  ,  Poverty In America: A Special Report The Economic Collapse | America is getting poorer.  How Greece Is Mocking the Rest of the World  [ Well, let’s get real here! There’s plenty to mock in this world, and Greece is hardly the nation to be doing the mocking. I think it’s the markets that are mocking the rest of the world’s stupidity for buying into this false reality / obfuscation / fraud, particularly by way of the now pervasive worldwide acceptance of the american strategy of currency debasement which really is a fraud facilitator because it masks to all but the intelligent few the underlying economic weakness and decline. A simplistic example, though not perfect, is apropos here: a company sells a product for 1 dollar which costs 1 dollar to make (assuming arguendo to cover fixed expenses - no profit). The fed over-printing / creating dollars like mad to the point where it now takes 2 dollars to render the same purchasing power of  1 dollar when the goods were produced. The company sells the products for 2 dollars (the previous equivalent of 1 dollar before debasement). The company is now showing earnings 1 dollar per unit sold, yet in real terms, they’ve gotten no more than the equivalent of that 1 dollar per unit. (If you’ve been to the grocery store lately, particularly the last 1-2 months, I’ve found meats, etc., to be up 50-100%, etc.). The same obfuscating manipulations are applicable to assets generally, and to those pieces of paper called stocks which are even ‘worse for the wear’ since churn-and-earn commissions at lightning computerized speed are being subtracted from this illusory ‘enhanced value’ which in reality doesn’t exist at all. ( Such manipulations from currency translation also provide ‘arbitrage opportunities’ though similarly largely ultimately subtracted from no real value being created. ) This is why fraudulent wall street loves the fed’s QE’s and dollar debasement / over-printing / creating and also why it’s been a dismal failure and a net negative in real economic terms as seen on main street and in the decimation of the middle class and growing ranks of the poor. In the analysis of securities, this would be considered ‘the quality of earnings factor’ that goes into the assignment of a p/e multiple to the projected earnings. Sufficeth to say, this is no longer done on wall street in any real or legitimate fashion, if at all. Indeed, it’s a fair statement to say that security analysis is no longer a ‘practice’ as same was considered, once upon a time, by value investors / analysts. As set forth by Dave and Cooper, infra, computerized programmed manipulation at lightning speed has been expedient in the short run for the wall street frauds but ultimately leads to the inevitable crash since as I often reiterate: Remember, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. They’re just not that important and represent, like termites eating away at the nation’s foundation, a drag on the economy, the nation as one would expect from parasites such as they are’. What to Expect Next From the Markets Minyanville  Jeffrey Cooper ‘Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and Caterpillar { Apple Hits New High (Update1) [ 9-19-11 This manipulated programmed trade to froth markets is a crash in the making – sell at these ridiculous levels / take profits! },  Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’] Simon Maierhofer,September 16, 2011, ‘Webster's dictionary defines gullible as naive and easily duped or cheated'…’
    


 

 

Art Cashin On The Most Important History Lesson Of The Last Century Oct 13th, 2011 08:40 by News  ZeroHedge) — Today, instead of the traditional market observations by the Chairman of the Fermentation Committee, we share with readers a critical historical lesson from Art Cashin, focusing on an event that took place 89 years ago, which as Cashin says “one of the most devastating economic events in recorded history and an important backdrop to Europe today. It all began with the efforts of a few, well intentioned government officials.” Many will know what we are talking about already…Originally, on this day (-2) in 1922, the German Central Bank and the German Treasury took an inevitable step in a process which had begun with their previous effort to “jump start” a stagnant economy. Many months earlier they had decided that what was needed was easier money. Their initial efforts brought little response. So, using the governmental “more is better” theory they simply created more and more money. But economic stagnation continued and so did the money growth. They kept making money more available. No reaction. Then, suddenly prices began to explode unbelievably (but, perversely, not business activity).[source] PG View: The hyperinflation of the Weimar Republic is unquestionably Germany’s defining economic moment, much like the Great Depression is ours. It goes a long way toward explaining why Germany continues to balk at further bailouts, leveraging, bond buying and expansive liquidity measures; they understandably fear the inflation. Keynsian thinking says governments should be printing and spending like mad in the face of grim growth prospects and an impending banking crisis, but German’s recall all-to readily that when über-easy monetary policy gets out of control, things can go from bad to catastrophic in a heartbeat. Cashin’s piece is indeed an important history lesson we all should take heed of. For further insight into the Weimar hyperinflation, be sure to read The Nightmare German Inflation. Previous:The latest b***s*** story into the close is ‘rich’, but not as in wealthy. One interviewee / pundit even preposterously referred to the ‘Marco Polo effect’, viz., that communist China’s rumored to be about to save one of the PIIGS, italy … but who’s going to save communist china … really … some very bad karma for communist china just ‘round the corner! Don’t forget, the market’s rallied literally many hundreds of points owing to that spin / b***s*** called the ‘euro solution’, etc., which of course, never existed in reality, but great ‘fraud’ points (that computerized hf commissioned churn-and-earn, up and down, get you now and get you later). Then the so-called ‘technical support’ levels … based on much worse than spun fundamentals / reality. It’s the other way around, fools … fundamentals create technical support levels, not vice versa. Unprecedented Monthly Volume Sell-Off Suggests Now's the Time to Take Shelter at Minyanville Kevin A. Tuttle Sep 12, 2011  ,  Preparing for a Credit Crisis at Minyanville  John Mauldin  ,  What's the Long-Term Outlook for Stocks and The Economy? ETFguide   Simon Maierhofer, September 12, 2011  ,    ]     Prepare For Recession And Bear Market at Forbes Sy Harding, ‘Brace yourself for a recession ,  Senate (Quietly) Approves $500 Billion Increase in Borrowing Authority Sep 9th, 2011 by News (WSJ Blogs) PG View: Shhhhh. Don’t tell anyone, but we blew through that initial $400 bln debt ceiling hike in about a month /  Europe on the Verge of a Political Breakdown News , 4 Bearish Mega Trends  Simon Maierhofer / S&P 1,100 And Lower - More Likely Than you Think  , STOCKS DEMOLISHED, EUROPE NEAR BREAKING POINT: Here's What You Need To Know Business Insider , Ominous Bear Flag Pattern Suggests S&P 500 At 1,000  Scott Redler ,Keep in mind the  ‘r’ word (‘recession’- actually should be ‘d’ word for depression) subtracting out the understated inflationary price increases (deflating growth with realistic inflation deflator), we’re already there (– see, Burt Dohmen, Financial Crisis Phase II Is Ahead at Forbes, infra)           7 Reasons Why New Lows are Likely  ETF Guide   ,  Albert Edwards Has Another Reason You Should Worry About Profits The Wall Street Journal, Mark Gongloff   ,   Chart Shock: The REAL Unemployment Rate Is 22% The Daily Bail September 2, 2011 ,  Deja Vu All Over Again: Total US Debt Passes Debt Ceiling… In Under One Month Since Extension  Sep 2nd, 2011 News (ZeroHedge)  ,   Global Recession: Right Here, Right Now at Minyanville  Mike Shedlock Sep 02, 2011  ,    Fearing An Even Worse Inflationary Depression Ahead Bob Chapman | The debauching of currencies worldwide goes on with great abandon. Previous: Typical (suckers’ rally into the close on still lingering hopes for more fed funny money that’s a detriment / negative to all but the frauds on wall street and has been a dismal policy failure) window-dressed end of month based on bad news, fraud, and b***s*** alone – watch for fake data / reports out of their sheer desperation  ,  Beware Dow In September: Do You Believe The Data?   [ NO! I DON’T BELIEVE THE GOVERNMENT DATA ( Famed economist predicts economic calamity in 2012x   http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1    , NOR DO I BELIEVE THE NON-GOVERNMENT DATA (Accounting Gimmics Resurface as Growth Flounders at TheStreet Rebekah Smith, infra)  ,   Global Recession Likely, Depression Possible: Economist  Aug 31st, 2011 by News (CNBC)  ,    Ignore Buffett's Advice, Don't Buy Stocks Forbes /  Dohmen , The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  What to Expect Next From the Markets at Minyanville  Jeffrey Cooper Aug 29, 2011  ‘Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple (AAPL), Amazon (AMZN), Baidu (BIDU), IBM (IBM), and Caterpillar (CAT) on Friday. That is why the market is so dangerous here…‘  Arguments for Being in the Crash Camp   Conor Sen  Aug 29, 2011 ‘If you want to take risk, only own things you're willing to own in a down 20-30% tape, because that's what we could see over the next month...’  , Economic / Financial Collapse Imminent – Stansberry  Investment Advisory http://www.albertpeia.com/stansberrysinvestmentadvisory.flv    Harry Dent, Jr. Economy will be in a Depression by 2011 Dow will Fall to 3,800 – 4,500 by 2012 Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest. U.S. Dollar will Decline Housing will Decline by 40 – 60% from Today’s Levels Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012).  Fed Economists Predict A 15 Year Bear Market For Stocks Aug 23rd, 2011 News (BusinessInsider)  ,  End Of Cycle Smelling Like Dow 3K, Gold 3K  Forbes /  Bill Bonner   ,  No Recession Coming ... It's Already Here   , Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’ ,  NOR DO I BELIEVE THE NON-GOVERNMENT DATA (Accounting Gimmics Resurface as Growth Flounders at TheStreet Rebekah Smith) at this point of abounding desperation for both. ] Murray Coleman ‘If you believe in seasonal factors, betting on the Dow Jones Industrial Average ETF (DIA) wouldn’t seem like the best play about this time of year. Over the past 100 years, the Dow itself has averaged a drop of 0.8% in September, according to Bespoke Investment Group. Over the last 50 years, the Dow has averaged a fall of 0.79%; in the past 20 years the benchmark has typically dropped by 0.60% during the month…’  

 

 

Obama's Legacy: A Failed Recovery & Double-Dip Recession  Forbes / Mariotti  ‘…There will be no significant recovery in the United States of America while Barack Obama is President.  The evidence is overwhelming:  everything Obama has tried to fuel a recovery (with his Democratic allies in Congress) has failed.  Statistics claiming jobs saved by the stimulus package were mostly fiction, and cost American taxpayers about $275,000 each.  Nearly 2-1/2 million fewer Americans have jobs than before the stimulus. Barack Obama has been President for 30 months—2-1/2 years. He spent the first year obsessed with passing Obamacare, a program that doesn’t create jobs, but might destroy a lot of them.  He “bailed out” GM, but many believe that his interference didn’t save GM; it merely cost taxpayers an extra $15-20 billion, and stole from legitimate investors to buy off the UAW.  His broken campaign promises are too numerous to list.  At some point, his statute of limitations on blaming Bush runs out…’   ,   The Bear Market Rally Has Begun at Minyanville   Toby Connor Aug 30, 2011 ‘…Investors need to be prepared. This is going to be a very, very convincing rally. The tendency is going to be to buy into the media hype -- that this was nothing more than a severe correction in an ongoing bull market. This was not a correction. This was the first leg down in a new cyclical (secular) bear market. And like all bear markets it will be subject to violent countertrend rallies that toy with traders' emotions, and ultimately cause investors to ride the bear all the way to the bottom…’    Scandal scarred commerce dept. report on consumer spending with anemic income figures (typically as always unworthy of belief as unbelievable anything the government says in their desperation) spurs suckers’ rally (along with some short covering) to suck suckers in and keep suckers sucked in.  Massive Understatement: Mohamed El-Erian’s reply to Frank Motek 1070am regarding particularly the 300+ point swing to the upside today, ‘(they’re) confused’! Indeed they are! But when you’re commissioning those manipulated computer programmed high-frequency-trade swings, churning and earning at lightning speed, such euphemistic criticism falls short with the impact of water off a duck’s back.      Moreover, how pathetic are they, those Pavlov dogs on wall street salivating at the mere prospect of a QE handout ultimately at taxpayer expense, in one form or another. Even more pathetic is the so-called ‘rally’ based on a purported rethink of fedspeak alleged  to be so filled with ‘ latent / hidden ‘ meaning of a form of QE welfare down the road. Those pathetic ‘titans of capitalism’; aka, the frauds of wall street.  Never mind that the QE’s have failed miserably and at great costs (inflation, financial, economic, etc.) and detriment to all but the frauds on wall street by way of their manipulated computer-programmed ( high frequency trading) commissioned churn-and-earn. Wall street’s rise has been among the causes of and comcomitant to america’s decline / demise. Remember, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. They’re just not that important and represent, like termites eating away at the nation’s foundation, a drag on the economy, the nation as one would expect from parasites such as they are. So what’s changed of significance? Nothing! Absolutely nothing; yet a manipulated computer-programmed ( high frequency trading bots ) churn-and-earn suckers’ rally based on desperation, bad news, fraud and b***s*** alone to suck suckers in and keep suckers sucked in. Horrific news on the economic front particularly since the anemic (revised downward – and I think much worse than reported) 1% GDP growth is all owing to hefty price increases / inflation, fudged and not reported accurately. Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’  This is an especially great opportunity to sell / take profits because there’s much worse to come! ,  Despite being glad that Apple has survived (though outlook now dimmed regardless of rhetoric and beyond the Jobs retirement), ‘american technology is horrendous and vastly overrated!’ I really mean it, and that’s reality, which speaks volumes about the pathetic state of the world ,  Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com  ,       Bernanke - Man of Mystery: Dave's Daily at TheStreet  ‘Bernanke did what a lot of people expected him to do -- speak softly but carry a big printing press. After being down nearly 200 points the DJIA rallied to close higher by 135 points. Pundits shrugged embracing the idea if something was really wrong Bernanke would have acted; besides, bulls' reasoned stocks are cheap based on trailing PEs of around 12. Away from that was more crummy economic news with GDP printing at only 1% growth. This may be revised lower again like most other indicators of late…’  (Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’)   Play It Again Sam: Dave's Daily  [ As always, Dave is spot-on as an astute, knowledgeable, seasoned veteran of the markets. ] ‘ …Thursday was another great show starring Jobless Claims, Warren Buffet, HAL 9000s, Steve Jobs and, of course, Da Boyz running the CRIMEX (COMEX and CME) on precious metals options expiration.The spin on Jobless Claims data was prior claims were adjusted higher making recent higher claims look not so bad especially when you add Verizon workers. Warren Buffett entered from stage left with a $5 billion investment in Bank of America giving him 6% interest tax-free (a "coddled" billionaire?) and making he and Berkshire a new TARP program. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job. One of these actions was featured courtesy of our friends at Zero Hedge and depicted below as it occurred Thursday afternoon. The first chart features the quotes per second (NOTE: one instance exceeding 800 quotes per second). The next chart shows the market's simultaneous reaction. http://www.thestreet.com/tsc/daves/082511/image002.jpg  Steve Jobs sadly is retiring from his leading role as Apple CEO but the stock hardly budged given the products and brand are already well-known and his retirement was much anticipated. Last, but not least certainly, was the performance of Da Boyz production of gold price manipulation…’ Previous: Manipulated computer-programmed ( high frequency trading bots ) churn-and-earn suckers’ rally into the close based on desperation, fraud and b***s*** alone to suck suckers in and keep suckers sucked in!   Stocks up on government report (I consistently and here now again warn of fake reports / data) on durables far better than expectations / reality…100% better? I don’t think so! … Come on … sheer desperation at best! Steve Jobs resigns from Apple, Cook becomes CEOSAN FRANCISCO (Reuters) - Silicon Valley legend Steve Jobs on Wednesday resigned as chief executive of Apple Inc in a stunning move that ended his 14-year reign at the technology giant he co-founded i... [ Far more than just a ‘Silicon Valley legend’, Steve Jobs literally saved Apple from extinction … I’m truly glad he saved Apple, my first computer (1986 - apple IIc for word processing / data based records / forms / templates / data which I interfaced with an electric typewriter for letter quality) and for that all should be thankful. Apple is the Nasdaq (40% weighting) and quite more, that now was! That’s past tense. Steve Jobs goes out a big winner as indeed he should! Yet, make no mistake, as one might expect, his timing was impeccable inasmuch as without his uniquely inspired innovation, competition moving in, and particularly the coming debacle / crisis the worst of which lies ahead, things are not looking up, in and for pervasively corrupt / defacto bankrupt america particularly, euphemistically speaking. ]  End Of Cycle Smelling Like Dow 3K, Gold 3K  Forbes /  Bill Bonner  … ‘Our view [ the correct view ] is that the bear market began in January 2000. The feds fought it off with two huge extravaganzas of spending — the first beginning in 2001 the other after 2008. Stimulus does wonders for stock prices but it no longer works for the economy that sustains them. For every dollar that the Fed has put to work to fight the crisis since 2008, for example, it has produced only 80 cents worth of GDP. It didn’t work……that the recession of ’08-’09 in the US never actually ended……and that stocks will go down over the next 5-10 years until they finally hit a real bottom…’  Ted Weisberg to Frank Motek 1070am could think of no reason for the market to be up (BAD NEWS: new home sales down, oil prices up - China's manufacturing index showed a decline, the seventh straight month of declines for German manufacturing and the first decline in two years for European manufacturing activity, in u.s. a big miss on new home sales and a decline in the Richmond Fed's manufacturing index.’) with some prodding ultimately a begrudging mention of that meaningless fudge term ‘oversold’ which of course is no reason at all particularly since the market is substantially overvalued so take this as an especially great opportunity to sell / take profits because there’s much worse to come! ,  Fed Economists Predict A 15 Year Bear Market For Stocks Aug 23rd, 2011 News (BusinessInsider) — ‘The San Francisco Fed has come out with a research paper connecting the dots between the retiring baby boomers and stock prices. The thinking is that the boomers will divest themselves of stocks as they retire and eat into their savings.…These conclusions are just horrendous! The suggestion is that there is a 15-year bear market in front of us. Multiples will fall by 50%!!…“We do see it as something of a headwind as the economy is attempting to recover.” … These deep thinkers have it completely wrong. They think that the key to having a stronger economy is higher stock prices. So they spend all of their efforts dreaming up ways to keep the S&P ramping up. I think it is the exact other way around. If the economy were to be growing [ you see, that’s the problem in large part – the economy won’t really be growing (huge price increases / inflation for the illusion), among a multitude of other problems ], it is reasonable to assume that stock prices might rise. It is completely false to assume that attempts to jigger stocks higher will lead to a stronger economy [ This is true, but the writer ignores the criminal fraud factor as the raison d’etre for the ‘jiggering’.’ ]  ,  Dow:Gold Ratio and the Secular Bear Market Minyanville  Toby Connor ‘ … Stocks.. after.. bear market rally, will roll over and continue down into a final four-year cycle low..Depending on whether or not the Fed tries to fight the cleansing process, or Ben Bernanke tries to stop the bear market with another round of quantitative easing, stocks should either test or breach the March '09 lows. Either way I expect that 2012 will go down as one of the worst years in human history. Certainly in the same category as 1932, if not worse …’  ,  ‘american technology is horrendous and vastly overrated!’ ,  Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com  ,   Accounting Gimmics Resurface as Growth Flounders at TheStreet ‘Rebekah Smith, director of financial advisory services at accounting and consulting firm GBQ consulting, says accounting tricks and schemes are likely to start unraveling as we head into 2012 and the lag effect catches up. "The typical accounting fraud goes on for about 18 to 26 months before it is uncovered. The frauds that took place in 2009 are not going to surface until later in 2011 or into 2012." ‘  ,  Morgan Stanley Biggest Welfare Recipient as Federal Reserve Lent Banks $1.2 Trillion During Financial Crisis Wall St. Cheat Sheet  ,    Social Security disability on verge of insolvency     ,  Welcome To The New Bear Market For Stocks  Forbes / Suttmeier ,  Dow/Gold Ratio Lowest Since 1987 Crash   Forbes /  Adrian Ash  ,   Ignore Buffett's Advice, Don't Buy Stocks Forbes /  Dohmen , The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  Tech Leading Market Lower The Wall Street Journal  ,  Banks closed in Fla, Ga, Ill; 2011 total is 68   ,   No Recession Coming ... It's Already Here   Minyanville's T3 Daily Recap: Market Gives Back Weekend Gains Amid US Bank Woes at Minyanville’  ,Previous:8-18-11 Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says    Crimes Wrecked The Markets    ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data at Forbes  ,  HP, Dell hammered as tech-spending outlook darkens   JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade   Dell braces investors for a bumpy road Dell makes a case on why it can better weather an upcoming storm  ,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    )   Five Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Newsmax.com)  US Recession Is Guaranteed: Expert CNBC.com  So what’s changed of significance (other than previous full moon and consequent effects on the lunatic wall street frauds) Nothing! Absolutely nothing, yet a manipulated computer-programmed ( high frequency trading bots ) churn-and-earn suckers’ rally based on desperation, fraud and b***s*** alone (ie., backward looking, ‘revisions’, faked data, etc.) to keep suckers suckered, which makes for an especially great opportunity to sell / take profits since there’s much, much worse to come!     Regulators close 64th U.S. bank this year , U.S. consumer sentiment grim but retail sales jump with gasoline prices up  ,  [$$] 'Junk' Bonds Point to Recession  , Stock Market Parallels to 2000 and 2008 Should Not Be Ignored   , How Low Will Stocks Go?   Michael Kahn, who writes the Getting Technical column for Barrons.com and the QuickTakes Pro blog, has long argued we’re in a secular (long-term) bear market, and he thinks the cyclical bull is over, too. Like Arbeter, he sees 1,010 to 1,050 as the next level of support for the S&P, and below that 930.’  50% unemployment & 90% Dow crash also predicted. Newsmax   Tech up? Is this some kind of a joke? Absolute confirmation of dire prospects worldwide since american tech is horrendous.  (Newsmax.com) ‘Robert Wiedemer’s new book, “Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown,” quickly is becoming the survival guide for the 21st century. And Newsmax’s eye-opening Aftershock Survival Summit video, with exclusive interviews and prophetic predictions, already has affected millions around the world — but not without ruffling a few feathers.    [ The instant  video on the economic / financial collapse from Stansberry and Associates is so well researched  and succinctly presented  that I’ve archived same on my website; also, because the facts and views presented comport with the facts and views I’ve presented on my site which I believe to be correct. This is a must-view, must-see that I strongly recommend!    
The complete url:     http://www.albertpeia.com/stansberrysinvestmentadvisory.flv    http://www.albertpeia.com/stansberrysinvestmentadvisory.mp4    Written text of presentation (without pictures  / charts)]  [A lot of pre-election year obfuscation, manipulation but the debacle is already here:  Harry Dent, Jr. Economy will be in a Depression by 2011
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012).
   Dow 1000? Robert Prechter Thinks So      Prechter Reiterrates Call For Dow 1,000, Even As Surging Gold And Plunging Dollar Leave Much Credibility To Be Desired        Bulls Go to Extremes: Don't Buy the "Breakout", Sell It, Prechter Says     Russell: This Is One Of The Largest Tops In Stock Market History  My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’     Forecasts from Dent, Napier, and then Prechter: Depression is Imminent The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777 which was the starting point of its mania back in August 1982, and quite likely drop below 400 at one or more times during the bear market.  [ 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse ‘…  #8 The U.S. national debt continues to get worse by the day.  Just check out what economics professor Laurence J. Kotlikoff recently told NPR….
“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap” ..’   Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’.]    Russell Napier is the author of the book “Anatomy of the Bear”, a professor at the Edinburgh Business School and a consultant to CLSA Ltd. which is one of the top research houses in Asia. Napier’s research indicates (and I paraphrase) that: The S&P 500 will Decline to 400 by 2014 (the Dow 30 to 3800) The S&P 500 will then undergo a major crash that will see U.S. equity prices bottom at almost 50% below current levels (i.e. to 400 or less; the Dow 30 to 3800 or less) sometime around 2014 as Tobin’s “q” drops to 0.3 signaling the end of the bear market, as it has done at the end of the four largest U.S. market declines in 1921, 1932, 1949 and 1982. U.S. Treasury Sales Collapse Leading to End of U.S. Dollar as Reserve Currency Robert R. Prechter Jr. is author of a number of newsletters and books including “Elliott Wave Principle” (1978) in which he predicted the super bull market of the 1980s; “At the Crest of the Tidal Wave – A Forecast of the Great Bear Market” (1995) in which he predicted a slow motion economic earthquake, brought about by a great asset mania, that would register 11 on the financial Richter scale causing a collapse of historic proportions; and “Conquer the Crash: You can Survive and Prosper in a Deflationary Depression” (2002) in which he described the economic cataclysm that we are just beginning to experience and advised how to position one’s self financially during that period of time. Depression is Imminent The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777 which was the starting point of its mania back in August 1982, and quite likely drop below 400 at one or more times during the bear market.    Watch for fake gov’t data / reports owing to political desperation!  This an especially great opportunity to sell / take profits, particularly if you missed Tuesday or May, since there’s much, much worse to come! Thursday, Aug.11, 2011: what changed from yesterday which warranted a more than 500 point plunge with paper stocks still over-valued? Well, some bad news labeled as better than expected 1) 7,000 fewer jobless claims than expected (just a little over 1% better even if you believe them – I don’t) 2) Cisco shows results ‘better than expected’ 3) Record monthly trade deficit  [ What Recovery? Forbes ‘we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with.’ ‘Cisco Systems Inc’s quarterly results edged past Wall Street’s scaled-back expectations ...“They beat a low bar. A lot of it is coming from cost cutting, which we anticipated. In that sense it’s a relief,” Joanna Makris of Mizuho Securities USA told Reuters. ‘Cisco, which depends on government spending for about a fifth of its revenue, said in July it would cut 15 percent of its workforce and sell a set-top box factory in Mexico.. Cisco bulls may underestimate tough road ahead Randewich.’ ] Tuesday, Aug.9,2011: what changed from yesterday which warranted a more than 600 point plunge with paper stocks still over-valued and a 545 bounce off of afternoon lows? Nothing! Absolutely nothing, yet a manipulated computer-programmed churn-and-earn suckers’ rally based on fraud and b***s*** alone to keep suckers suckered, which makes for AN ESPECIALLY GREAT OPPORTUNITY TO SELL / TAKE PROFITS SINCE THERE’S MUCH, MUCH WORSE TO COME!  [ Is this some parallel universe where unfounded criticism is levied at S&P for the downgrade when they’ve actually cut the pervasively corrupt, defacto bankrupt disunited states a break by not rating what america truly is; viz., junk status for the paper / liabilities / obligations that cannot and will not be paid (or the equivalent vis-à-vis what would be in worse than evermore worthless Weimar dollars or some other ‘ponzi-like’ subterfuge, obfuscation). The amounts are insurmountable going forward. They point to Moody’s and Fitch; yet, let’s not kid ourselves, S&P is the ‘800 pound gorilla’ in this world among rating agencies and moody’s, fitch have substantially diminished themselves as entities consistent with their ‘mission and purpose’ and as well, their credibility. I mean, come on! Consider the pressure that was and continues to be applied. Moody’s and fitch, quite frankly, folded. China’s rating agency has already downgraded u.s. paper and they’re ‘holding’ (huge amounts of that u.s. junk); and hence, against their own interest. Wake up! Wall Street closes worst week since '08 with wild day NEW YORK (Reuters) S&P on U.S. downgrade: Debt pact 'falls short' - Reuters  S&P downgrades US credit rating from AAA   S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating  Wall St. Cheat Sheet    What Recovery? Forbes   ‘…we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with. And while we’re at it, we can’t ignore increasing sovereign debt problems in Europe…’  Top 3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet  1) Japan and Europe 2) Unemployment.3) Capital goods - billions of dollars in lost revenue. Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher. Yes, it’s normal for insiders to be selling some of their stocks so they can buy new yachts and some of this is pre-planned. But that ratio — which has spiked recently — is extraordinarily high, one might even say off-the-chart  previous‘…1) Job cuts. 2 ) ISM service-sector report. Monday’s ISM manufacturing report contributed to market losses on Monday, but today’s report, though equally negative, didn’t quite have the same effect as markets began to level out this afternoon. The ISM service-sector index declined to 52.7% in July. The U.S. service sector accounts for three-fourths of all economic activity, and employs four out of every five U.S. workers , so a 0.5% decline speaks volumes about the state of economic recovery…’  Factory orders for June fell by 0.8% (just because they say the bad news isn’t as bad as expected does not make such bad news ‘rally material’. Indeed, the huge ralleys based on now revised downward data never seem to retrace that fake data induced stock surge based thereon.    Service sector growth slowest since 2010    Moody's sets negative outlook on BNY, JPMorgan         S&P ends string of losses on tech rebound  Tech rebound? Is this some kind of a joke? Tech up today? Absolute confirmation of dire prospects worldwide since american tech is horrendous. Yet, sizzling ‘child’s play’ is the order of the day and credit still must be given to those [ie., Steve Jobs-I’m truly glad he saved Apple, my first computer (apple IIc for word processing / data based records / forms / templates / data which I interfaced with an electric typewriter for letter quality)] who could (as he) identify such novelties as the biggest over-priced / over-valued sensations since the hoola hoop (hoopla hoops - which were pretty cheap and with some minor health benefits to boot).Take this run-up as a gift based on fraudulent wall street b***s*** alone and take this opportunity to sell / take profits / ‘sell today if you missed in may and then go away’! Nothing has been solved; maybe forestalled.  Rout spells trouble for Wall Street  / Moody's confirms U.S. rating at Aaa, outlook negative / Chinese rating agency cuts U.S. debt again / Minyanville's T3 Daily Recap: Signed Debt Deal No Cure for Sickly Market  / US auto industry uneasy after weak July sales / Fitch Unimpressed By Debt Deal, GDP; Markets Unimpressed By Fitch / US debt deal alone won't sustain AAA rating / Stocks now down for year as economic concerns grow – AP    The Daily Market Report Aug 1st, 2011  PG  Relief? What Relief? http://www.usagold.com/cpmforumLate last night when party leaders and the President announced that they had reached a bipartisan deal that would allow the debt ceiling to be raised, gold dropped about 1%. Global stocks rallied in relief and briefly, ever so briefly, gold was out of favor…CBO scores the package as accomplishing $2.1 trillion in spending cuts over the next 10-years, the CBO baseline also has the deficit rising $6.7 trillion over the same period. The premise apparently being that we’re working our way to actual cutting by cutting to slow the pace of the nation’s proliferate spending. In actuality — and as evidenced below — that CBO baseline may prove to be way too optimistic. What really lit an intraday fire under gold today was the big miss on US July ISM, which plunged to 50.9. The market was expecting a modest downtick to 55.0 from 55.3 in June…The Truth About The Debt Deal: It’s Pretty Much Meaningless Business Insider/ Come on! Who believes their pre-election year data, reports, b***s***? There’s desperation in the air and like never before! One commentator, Peter Shiff, to Frank Motek of 1070am Bus.Report references the sham in Washington; and regardless, points to default by way of inflation, further stating that the debt ceiling’s already been breached by borrowing. Moreover, he additionally states that default is inevitable by way of inflation; that the fed will be buying the evermore worthless american paper (bonds) and creating/printing evermore worthless american dollars; that there’s been a quid pro quo with at least one of the 3 (S&P, Moody’s, Fitch) federal licensed rating agencies, viz., of reaffirming the u.s. AAA rating in return for no prosecution surrounding their role in the S&P AAA rated worthless (fraudulent, mortgage-backed, derivative) paper securities (fraud) giving rise to the previous leg of this continuing, ongoing debacle / crisis. He finally goes on to recommend non-u.s., non-dollar denominated assets, precious metals, and alternate currencies. Initial unemployment claims rise to 418000 - Jul. 21, 2011 which bad news sparked wall street rally … what total b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a plan!…, backward looking earnings results … riiiiight! Watch Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes  Sean Hanlon  / Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Huge suckers’ rally to keep the suckers suckered in this market based upon backward looking data discounted multiple times to the upside (including the apple numbers as recently as last week on ‘leaked’ expectations of ‘better than expected’, etc.), taxpayer funded QE results, and b***s*** alone. This is an especially great opportunity to sell / take profits since there’s much, much worse to come!   IT'S GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner … thanks for the heads up tiny tim  ‘God bless us everyone’!  … As if we didn’t already know it / feel it! Dave's Daily  'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St.    S&P Poised For Dropoff, Says Initial Jobless Claims  Forbes / Maureen Farrell  ]




A Decade of Decline in Equity Markets Faisal Humayun [ This is a must read and explains how the market’s been artificially propped, the dow relative to hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was trading at 11,357 levels at the beginning of the year 2000. More than a decade later (as of beginning July 2011), the index is at 12582. Therefore, the index has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining) debasement rate was 31%. (-31%) {See the inflation calculator infra – and that’s just the government (inflation) numbers … reality is much worse!} Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before at lightning computerized speeds enabling the high-frequency trades that are commissioned in unprecedented large volumes; a big net negative in real economic terms.]  While Washington Fiddled The Economy Burned at Forbes [ Oh come on! Let’s get real here! The economy was already burning (see infra), Washington notwithstanding! Indeed, the frauds on wall street with those contraindicated paper stock computer programmed commissioned churn-and-earn rallies would love for you to think it’s Washington only {that aw shucks, coulda’ been clear sailin’ otherwise moment; but the reality is that things are far more dire financially and economically than their window-dressed scams would indicate, though washington’s no help, incompetent, unknowledgeable, and ineffectual as they are (although fraudulent wall street, aside from their consummate scammin’, is little better and probably overly relied upon and light in those very areas one would expect to find profiency; viz., finance and economics.) Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.}  ] Check out this inflation calculator:   http://www.albertpeia.com/inflationcalculator.htm

 

 

Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif

 

 

Beneath the Market’s Swings, Some Real Cause for Worry  News  Jeff Cox August 11 (CNBC) — ‘So whether this equals, falls short of, or exceeds the financial crisis of 2008 hardly seems to matter—investors are afraid, very afraid, and the question as much as anything in the minds of many market pros will be what soothes that fear. Analyst Dick Bove at Rochdale Securities says he knows why: More restrictive capital requirements and near-zero interest rates set at the Federal Reserve [cnbc explains] that make lending neither easy nor lucrative, a trend that will make it difficult for the economy to grow. “If one thinks through these limitations it can be seen that banks must shrink their balance sheets and change their business patterns to maintain their profits. What they are unlikely to do is to expand their lending activities in order to grow the economy,” Bove wrote in a lengthy banking analysis Thursday.“However, the Federal Reserve is suggesting that the economy is unlikely to grow,” he wrote. “If the Fed is prescient, then banks are facing higher loan losses, lower loan volume, and reduced margins on a wide array of banking products. The outlook is not appealing.”“Even though the United States is able to both print and borrow money, it is as bankrupt as the Europeans,” Bove wrote. “Covering deficits and paying debt with borrowed funds, some of which is newly printed, does not constitute meeting debt service requirements.”…’

 

 


The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed
! Previous, full moon and fraudulent wall street, get this, rallies on not as bad as expected EU stress tests and better than expected google results but forget the dire consumer (recession level) consumer sentiment number ‘cause after all, consumer spending just a paltry 70% of GDP.  Think about this: short-lived Pavlov dog rally (the conditioned stimulus) on hopes for more welfare for wall street and some good results in communist China. This despite the previous failure of QE for everyone but the frauds on wall street and ultimately, though circumlocuted, at great taxpayer expense. Titans of capitalism? How ‘bout the biggest unprosecuted frauds in the world. Preposterous!  Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )   I want just one person with courage enough to stand up and explain to all that these huge commissionable computerized trading volumes like never before are a net negative in a very big way … that’s a fact … that’s economic reality in real terms!   Trade deficit up, growth predictions by fed scaled down [ do you recall how many upside market points for the false, more positive growth projections by the ‘no-recession’ fed, then there’s also the costly, hyperinflationary failed QE hopes, more fed jawboning rallies the frauds on wall street off their lows to keep suckers suckered – they all belong in jail!   Housing Woes to Cause Recession in 2012, Says Gary Shilling - Peter Gorenstein  STOCKS BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Weisenthal Economic scenario far worse than expected (and in this pre-election year the reality is still far worse than reported), yet stocks still rallied off lows to keep suckers sucked in to this fraudulent market    Click here to see the new scariest jobs chart ever  http://www.businessinsider.com/details-from-the-awful-june-june-jobs-report-2011-7    >  See all 12 charts from St Louis Fed:  http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-356/chart.jpg    Previous:Stocks rally on jersey-based, former Lautenberg ADP still paltry, better than expected 157,000 private jobs number and one’s got to wonder ‘who got paid’, one way or another, for the fudge. Then there’s the horrific ‘american tech’. Retail? The defacto bankrupt government’s probably buying with money they don’t have, at best; and, as with other data in these desperate pre-election-year times, plain false, falsified, fudged, spun. Previous day, all bad news … from eurozone (protugal, et als), to asia zone (china worse than expected), to america (where to begin, from defacto bankruptcy, to debased currency, to insurmountable debt / dervice, to pervasive corruption, etc.) … stocks rally on fraud and b***s*** alone. Previous, higher oil price rally, along with Netflix ‘technology rally’ … Don’t make me laugh! … Total desperation on wall street and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected; and, don’t forget, these are desperate ‘pre-election times’ when regardless of factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt chicago ISM is up as even their youth gangs are showing increased criminal activity which probably accounts for the rise; ie., meth, crack labs, etc.?) data / reports are fudged / faked / spun. Foreclosure, distressed sales up, at least on paper with contracts signed, so no surprise nor reason to cheer here, as markets worldwide jump on the american crazy train for a short-lived bounce as all problems remain. This is the same month end (and quarter, half) spurt / window dressing based on b***s*** alone to keep the suckers suckered and an especially great time to sell / take profits since there’s much worse to come! Talk about milking the greek crisis for the umpteenth time a so-called solution (and there are loads of greecy scenarios worldwide …  I don’t think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys time. Actually fixing the fiscal condition of Greece is not something that can be solved in a matter of weeks, or even months…‘ but it’s great press for the churn and earn and to keep the suckers suckered.  Technology rally? Defacto bankrupt american technology is horrendous but great sizzle for the new fraud as in the dotcom bust days. Then there’s the greasy b.s. new greecy b.s. factor. The rally into the close and the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the suckers suckered and for ‘smarter money ‘ along with the frauds to sell into. This is an especially great opportunity to sell / take profits while you still can since there's much worse to come!    Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher. Yes, it’s normal for insiders to be selling some of their stocks so they can buy new yachts and some of this is pre-planned. But that ratio — which has spiked recently — is extraordinarily high, one might even say off-the-chart.       Wall Street 'Vastly Underestimating' Risk of Debt Default  Forbes / Robert Lenzner   StreetTalk ‘ “Meet the Press” climaxed Sunday  with a startling market prognostication from David Brooks, conservative columnist for the NY Times. The risk of a debt default over the combustible issue of the Medicare deficit hangs over the course of the stock market. Buyers Beware!“I was up in Wall Street  this week,” Brooks said. “They’re vastly underestimating the source of piolitical risk here. We could have a major problem, I think, either this summer or the next couple years. And I’d be worried about investing too much in the market. That’s my financial advice.”…’   Another Financial Crisis Is On The Way, Mobius Says      Market Crash 6/30/11?Technical indicators suggest market collapse may begin by June 30th Dennis Slothower is one of the world’s leading technical analysts. He’s one of the few advisors whose readers completely avoided ALL losses during the disaster that was 2008. And now he’s issuing another dire warning. His technical indicators suggest that the market manipulation we’ve seen over the last several months is about to come to an end…and that means thousands of investors are about to get clobbered. This correction could begin as soon as June 30th– so it’s important that you take action now to prepare yourself. StealthStocksOnline.com        STOCKS HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know    Harry Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out           24 Signs Of Economic Decline In America ‘The US is in the middle of a devastating long-term economic decline..’ ]  States face shortfall for retirees (WP)   Public workers’ retirement funds had a gap of $1.26 trillion at the end of fiscal 2009    Study: Affordable rentals scarce  (WP)      Poll: For Obama, low marks on Afghan war (WP)  Fuel prices cut into Obama popularity  (WP) They’ve used the contrived mideast turmoil and their wars to obfuscate and divert attention from their failure.    Davis ‘This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘  Dave's Daily  'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St.   S&P Poised For Dropoff, Says Initial Jobless Claims  Forbes / Maureen Farrell   

 

 

 

Take A Lesson From 2007 And Sell Stocks Now at Forbes, Sean Hanlon ‘August has given new meaning to “the dog days of summer” as the broad equity market has retracted all year-to-date gains and dropped into negative territory, all within the first couple weeks.

As written in my previous Market Commentary on July 20, our research uncovered potentially dangerous activity in the equity markets that could lead to a break and high volatility.  We presented this in that Market Commentary by the chart in Figure 1 below.  Using our proprietary research methodologies, we elected to make a major “tactical” move on June 17.

That move reduced all equity and high-yield bond exposure, creating 50% cash or cash equivalent allocations across all portfolios. This defensive move was shown to be prudent as volatility erupted and considerable downside was experienced in equity markets in the first week of August, as shown in Figure 2.

Figure 1 (click image to enlarge.)

http://blogs-images.forbes.com/advisor/files/2011/08/11.jpg

With this heightened volatility, we were observant that this market behavior was eerily similar to market conditions in 2007. To elaborate on this point, let’s compare the S&P 500 Index for 2007 vs. the first seven months of 2011.  As you can see below in Figure 2, 2007 experienced high volatility yet remained range-bound in an upward trend (represented by the overlaid black bands).

Figure 2 (click image to enlarge.)

http://blogs-images.forbes.com/advisor/files/2011/08/2.jpg

 

The first half of 2011 maintained a range-bound upward trend until finally breaking sharply to the downside in the first week of August.

Of course now everyone wants to know what happens next?  Our research has no special predictive power of what may happen now that the “trend” has been broken. Instead, what our research is telling us is to remain extremely cautious at this time.  We have since moved client portfolios to almost 100% money markets and/or cash equivalents in all accounts.  We do maintain some high quality bond positions.

You may think “But I can’t make any money in money markets, they pay nothing these days!”  True enough, but there are many times in one’s investing lifetime where the best investment is to simply maintain principal.  That principal amount will be able to potentially purchase more in the not too distant future.

A simple example is stocks.  On April 29 of this year, $1,340 purchased the equivalent of one S&P 500 Index share.  Today, to own those same companies that make up the S&P 500 Index, the cost is below $1,200, yet the same amount of dividends is being received.  In this period preserving principal has resulted in increased “investment” purchasing power, income and potentially increased return.

 

Related article: Watch Out: 2011 Looks A Lot Like The Market Top In 2007

 

 

 

New Business Articles / Topics / Links

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All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.--Arthur Schopenhauer

 

 

 

STOP ACTA AND TPP     http://albertpeia.com/stopactatpp.htm

 

 

10 Things That Every American Should Know About The Federal Reserve http://albertpeia.com/10thingsmustknowaboutfedreserve.htm

 

 

 

 

Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

 

 

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.

 

 

The Markets Since Their 2000 Highs: We're Not Bouncing Back  http://www.bullfax.com/?q=node-markets-their-2000-highs-were-not-bouncing-back  ... [ Actually the picture is even worse if the real inflation rate used. Wall street is total fraud and b***s***! Keep in mind, in addition to loss of principal, the flux / worry takes its toll on health as well as productivity. ] 02/02/2012 By Doug Short:   The January Effect in 2012 was quite strong, and the U.S. markets have continued the rally that began last October. But let's take a step back and review the performance of the major US indexes in the 21st century through the end of January 2012. Here is an update in response to a standing request from David England, a professor who has developed a popular college level stock market classes at John A. Logan College in Carterville, Illinois. David is also the founder of thetraderseye.com. In his upcoming presentations, he wants to disprove the standard message of Wall Street, "Don't worry! The market will always come back." I furnished David with some charts, and I shared them with regular visitors to my Advisor Perspectives pages. Specifically, David had asked for real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq Composite. So I created two overlays — one with Complete Story »   [ The following are important charts from Doug Short:

http://albertpeia.com/3real1.png

http://albertpeia.com/3real2.png

 

http://albertpeia.com/3real3.png

 

http://albertpeia.com/3real4.png

 

 

 

 

 

I Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent Employment Statistics?  http://theeconomiccollapseblog.com  http://albertpeia.com/governmentfraudulentemploymentstats.htm 

 

 

 

 

The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming  http://theeconomiccollapseblog.com http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm

 

 

News Flash: The Rally Is Over…For Now  The Wall Street Journal ‘..That’s enough of a pullback for Mr. Arbeter to call a near-term top. He sees the S&P 500 tumbling into the 1290 to 1320 range by early March, with tech stocks as the ”most overbought and vulnerable to some profit taking.”..’This Is What An Economic Depression Looks Like In The 21st Century http://theeconomiccollapseblog.com  http://albertpeia.com/21centurydepressiongreecedusup.htm

 

 

 

 

2-22-12

 

 

 

 

 

A Warning Sign For The World  http://theeconomiccollapseblog.com  http://albertpeia.com/warningsignfortheworld.htm
Any financial system that is based on debt is doomed to fail.  Today, we are living in the greatest debt bubble that the world has ever seen, and if all of a sudden people could not use credit to buy things our economy would immediately ground to a halt.  Unfortunately, no debt bubble can last forever.  When this current debt bubble finally bursts, faith in the financial system is going to disappear, credit is going to freeze up and there is going to be a massive wave of bank failures.

10 Signs That America Is Decomposing Right In Front Of Our Eyes http://theeconomiccollapseblog.com     http://albertpeia.com/10signsamericadecomposing.htm

 

Scandal: Greece To Receive "Negative" Cash From "Second Bailout" As It Funds Insolvent European BanksEarlier today, we learned the first stunner of the Greek "bailout package", which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup's statement on the Greek bailout, we find another very creative use of "negative" numbers. And by creative we mean absolutely shocking and scandalous. First, as a reminder, even before the current bailout mechanism was in place, Greece barely saw 20% of any actual funding, with the bulk of the money going to European and Greek banks (of which the former ultimately also ended up funding the ECB and thus European banks). Furthermore, we already know that as part of the latest set of conditions of the second Greek bailout, an 'Escrow Account" would be established: this is simply a means for Greek creditors to have a senior claims over any "bailout" cash that is actually disbursed for things such as, you know, a Greek bailout, where the money actually trickles down where it is most needed - the Greek citizens. Here is where it just got surreal. It turns out that not only will Greece not see a single penny from the Second Greek bailout, whose entire Use of Proceeds will be limited to funding debt interest and maturity payments, but the country will actually have to fund said escrow! You read that right: the Greek bailout #2 is nothing but a Greek-funded bailout of Europe's insolvent banks... and the Greek constitution is about to be changed to reflect this!


RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 22/02/12

 

Europe's Nash Equilibrium - A Tightly Stretched Rubber Band?In the ongoing 'game of chicken' in Europe (playing out between the core and the periphery as the main two players) it appears we are once again at a point of inflection in the Nash Equilibrium that exists only in the minds of the Eurogroup leaders. As Credit Suisse notes, the continued existence of the Euro will hugely depend on the incentive structure of its members to defend it (and implicitly this means costs and retaliations - downsides - must be appreciated and allocated). These incentives evolve through time (and interventions can have unintended consequences) and brinksmanship and threats (Greece's referendum comments for instance) can improve outcomes in the short-term. Most importantly, it seems the market is among the best mediators to 'fix' each player's action and outcome but each intervention reduces that effect, 'time becomes money' as costs are increasing through procrastination. This leaves the asymmetric interests of the players (remember how exposed the core is to the periphery?) likely to increase break-up risks with Credit Suisse seeing the logical and intended consequence 'an increase in stress' - with either a 'catastrophic' break-up (or member exit) or a long, painful and volatile continuation of the crisis that can only be slowly improved by some type of inter-European enforceable contract. The more intervention, the lower the immediate impact of inaction and the higher the pent-up volatility in the system before threats are taken seriously (or consequences admitted).

 

 

Guest Post: Dangerous IdeasThere is a very clear relationship between economic growth and sufficient quantities of high quality energy. A crude measure of energy quality is its price. The lower the price for a unit of energy, the higher its quality (or net energy), but this is a very crude measure that can and often is heavily distorted by subsidies, market pressures, and other factors. As we squint at the world price for oil and note that Brent today is trading at $120 per barrel, it is clear that this high price is signaling that energy is now more expensive than it used to be. By adopting the belief that Peak Oil has been debunked, one runs the risk of missing the larger story that our current economic model is unsustainable. And that stocks and bonds and other traditional investments that derive a large portion of their current value from expectations of future growth simply may not perform anything like they have in the past. And worse, that recent and continuing efforts to revive the old economy by printing money risk the destruction of the money system itself. Given this all-too-human tendency to attempt to preserve the status quo, in this case by printing money, I must reiterate my advice to be sure that gold forms a significant portion of your core portfolio. 

 

 

Complete Latest Hedge Fund Holdings AnalysisThe fine folks at Street of Walls have been kind enough to provide us with their latest 13F breakdown which looks at the position changes across America's 30 largest and most important hedge funds. While we have already focused on some of the more entertaining ones, and tracked the recent rush back into gold, those curious about what the latest hedge fund hotel stocks are (aside from Apple of course) are encouraged to peruse the following exhaustive report.

 

NAR Continues Tradition Of Making Mockery Of Itself, Revises December Home Sales From +5% to -0.5% And here is yet another reason why we will permanently ignore the pathologically lying real estate syndicate known as the NAR (link): December data was just revised from +5% to -0.5% (from 4.61 million to 4.38 million). Since December market expectations were for a +5.2% print, imagine the sheer horror the algos would have been faced with had the real number been reported on time. Needless to say, if this number had been unrevised, the January +4.3% increase would have been a decline. This way the aglos focused only on the immediate moment get two months of beats in a row. Huzzah. Anyone who trades anything based on this borderline criminal self-reporting enterprise needs to have their head checked. In other news, when will the LIBOR investigation finally target the NAR?

 

Why The Core Needs To Save The PeripheryWe have discussed, at length, the symbiotic (or perhaps parasitic) relationship between the banking system in Europe and the governments (read Central Banks). The LTRO has done nothing but bring them into a closer and more mutually-reinforcing chaotic relationship as we suspect many of the Italian and Spanish banks have gone all-in on the ultimate event risk trade in their government's debt. It should come as no surprise to anyone that the bulk of the Greek bailout money will flow directly to the European banking system and Credit Suisse has recently updated the bank exposure (by country) to peripheral sovereign debt that shows just how massively dependent each peripheral nation's banking system is on its own government for capital and more importantly, how the core (France and Germany) remains massively exposed (in terms of Tier 1 Capital) to the PIIGS. Retroactive (negative) salary cuts may well not be the worst of what is to come as the bankers deleveraging returns to bite them in a phoenix-like resurrection of sovereign risk on now even-more sovereign-bloated (and levered) balance sheets.

 

 

It's Official - Greece Unveils The Negative Salary, And A Whole New Meaning For "Pay To Play" We thought we had seen it all. It turns out we hadn't. The country that gave the world the alphabet, philosophy, and plates with funny sexually ambiguous drawings on them, has outdone itself again. Because beginning this month some Greeks will have to pay for the privilege of having a job.

 

Zombie Housing Market Chronicles - Fed Fails Again To Stimulate A Housing RecoveryWhile today the association of real estate advertising agents known as the NAR will tell us that the home market is improving - an economic observation which we will completely ignore as any data out of the NAR is now proven to be manipulated and fraudulent, a far better indication of the ongoing implosion in the housing market, and more importantly - the sheer powerlessness of the Fed to do anything about it - came out of the latest weekly Mortgage Brokers Association, which showed that refi applications were down 4.8% W/W, while purchases slid 2.9%, after collapsing 8.4% in the past week. This has taken the Purchase Application index back to the September lows, which just happens to be the lowest print in 16 years. And while this in itself would be ok if not exactly good, it took place at a time when the 30 year mortgage rate was down to all time record lows! In other words, Bernanke's sole prescription to fix the broken housing market diagnosis - low mortgage rates, has now been proven to be a complete disaster, even as Obama does everything in his power to get debt repudiation for deadbeats (at the expense of everyone else of course) and fails. So: what's the next plan?

 

No, This Is Not Mount Olympus... ...This is a chart of the Greek bank stock index, which has gone from an all out demented euphoria to suicidal depression in 5 days, as the rumor that Greece is "saved" has been replaced with the reality that Greece is still "completely broke" - if you bought on Monday like most momos, on the expectation that the torrid surge higher would continue, you have now lost 24%. We are awaiting the latest January deposit data from the Greek banking system eagerly, as something tells us Greek citizens, who are already congregating at Syntagma square for today's daily riot, did not follow Venizelos' advice to either "WORK, WORK, WORK" or for that matter "DEPOSIT, DEPOSIT, DEPOSIT."

 

Greek 1 Year Hits 763%If it seems like it was only 5 days ago that Greek bonds could be had for the blockbuster yield of 638%, it is because it was As of today, the same bond was yielding an even more ridiculous 763% (and remember when the MSM fluffers were telling you to buy these at the bargain basement yield of 100% in September 2011?). This price has nothing to do with the Fitch action on the country which is irrelevant, and all to do with the fact that, as noted previously, the cash coupon on the post-reorg bonds was cut once again, this time from 3.6% to just 2%, and the current price on non UK-law bonds is merely indicative of the cash on cash return investors in these bonds expect to make. It also means that the market expects a redefault in just about 1 year. And yes, we realize that at bond prices in the high teens, the yield curve is absolutely meaningless but it is still highly entertaining to watch as Greek bond yields are about to hit quadruple digits, which in itself is very indicative of the recoveries one can expect in a global sovereign ponzi, and yet the powers that be tell us this is a perfectly normal phenomenon, i.e., there is no default, and thus there is no reason to hedge for it. Alas, the whole world has gone mad.

 

 

Daily US Opening News And Market Re-Cap: February 22The softer PMI reports have weighed on risk markets, which as a result saw equities trade lower throughout the session. In addition to that, market participants continued to fret over the latest Greek debt swap proposals, which according to the Greek CAC bill will give bond holders at least 10 days to decide on new bond terms following the public invitation, and the majority required to change bond terms is set at 2/3 of represented bond holders. Looking elsewhere, EUR/USD spot is flat, while GBP/USD is trading sharply lower after the latest BoE minutes revealed that BoE's Posen and Miles voted for GBP 75bln increase in APF. Going forward, the second half of the session sees the release of the latest Housing data from the US, as well as the USD 35bln 5y note auction by the US Treasury.

 

A Breather And Some Time To Sort Through Some Greek Details After months (it seems like years) of trying to avoid a CDS Credit Event, it looks like one is inevitable.  The Greek 5 year CDS is at least 70 bid which may be the highest ever.  The game plan seems to be that Greece will put in retroactive CAC laws.  The PSI will come in below 100%.  Greece will trigger the CAC clauses on the Greek bonds, and we will get 100% participation in all those bonds, and we will get a Credit Event.  The interesting part is that depending on what they manage to do with English law bonds, the only bonds outstanding (not in the hands of the central bank only bonds, and troika loans) will be the new bonds.  If they start CAC’ing each bond, it is possible that there will be no existing bonds outstanding left.  Settlement would be based on the new bond (yes, ISDA has a Sovereign Restructured Deliverable Obligation clause – Section 2.16 of the definitions).  With the amortization schedule in place (and not including any value attributable to the GDP strippable warrants), I get that the new bonds would trade at 30% of par with a yield of just over 13%.  I would be careful paying up for CDS here, because settlement will be against these new bonds, not existing bonds if every old bond is CAC’d.  And given the attitude out of Greece late yesterday, and harsh IMF demands, we may well see that. 

 

Frontrunning: February 22 Obama Administration Said Set to Release Corporate Tax-Rate Plan Today (Bloomberg, WSJ)

  • Greece races to meet bail-out demands (FT)
  • IAEA ‘disappointed’ in Iran nuclear talks (FT)
  • Hilsenrath: Fed Writes Sweeping Rules From Behind Closed Doors (WSJ)
  • Fannie-Freddie Plan, Sweden FSA, Trader Suspects, CDO Lawsuit: Compliance (Bloomberg)
  • Bank of England’s Bean Says Greek Deal Doesn’t End Disorderly Outcome Risk (Bloomberg)
  • Greece Second Bailout Plan an ‘Important Step,’ Treasury’s Brainard Says (Bloomberg)
  • Shanghai Eases Home Purchase Restrictions (Bloomberg)

 

 

 

Sentiment Weaker Following Euroarea PMI Contraction, Refutation Of "Technical Recession"January's hopium catchphrase of the month was that Europe's recession would be "technical" which is simply a euphemism for our Fed's beloved word - "transitory." Based on the just released Euroarea PMI, we can scratch this Euro-accented "transitory" addition to the lexicon, because contrary to expectations that the Euroarea composite PMI would show expansion at 50.5, instead it came out at 49.7 - the manufacturing PMI was 49.0 on Exp of 49.4, while the Services PMI was 49.4, on hopes of expansion at 50.6, which as Reuters notes suggests that firms are still cutting prices to drum up business and reducing workforces to cut costs. This was accompanied by a overnight contraction in China, where the flash manufacturing PMI rose modestly from 48.8, but was again in contraction at 49.7. We would not be surprised if this is merely the sacrifice the weakest lamb in the pack in an attempt to get crude prices lower. So far this has failed to dent WTI much if at all following rapidly escalating Iran tensions. What is curious is that Germany and France continue to do far better than the rest of the Eurozone - just as America has decoupled from Europe, so apparently have Germany and France. This too is surely "sustainable."

 

 

Chuckles  : Bruce Krasting : 02/22/2012 - 19:26 Chuckles, no laughs.

WTF Did All That Printed Money Go? : ilene : 02/22/2012 - 16:48 A riddle, wrapped in a mystery, inside an enema.

Would You Support an Iran War If … : George Washington : 02/22/2012

 http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm

Would You Support a War Against Iran If You Knew the True Facts?

Would you support a war against Iran if you knew that:

  • The CIA admits that the U.S. overthrew the moderate, suit-and-tie-wearing, Democratically-elected prime minister of Iran in 1953. He was overthrown because he had nationalized Iran's oil, which had previously been controlled by BP and other Western oil companies. As part of that action, the CIA admits that it hired Iranians to pose as Communists and stage bombings in Iran in order to turn the country against its prime minister
  • If the U.S. hadn't overthrown the moderate Iranian government, the fundamentalist Mullahs would have never taken over. (Moreover, the U.S. has had a large hand in strengthening radical Islam in the Middle East by supporting radicals to fight the Soviets and others)
  • The U.S. armed and supported Iraq after it invaded Iran and engaged in a long, bloody war which included the use of chemical weapons. Here is former Secretary of Defense Donald Rumsfeld meeting with Saddam Hussein in the 1980's, several months after Saddam had used chemical weapons in a massacre:
  • The U.S. helped fund Iran's nuclear program
  • The U.S. has been actively planning regime change in Iran - and throughout the oil-rich Middle East and North Africa - for 20 years
  • The decision to threaten to bomb Iran was made before 9/11
  • Top American and Israeli military and intelligence officials say that - even if Iran did build a nuclear bomb - it would not be that dangerous, because Israel and America have so many more nukes. And see this
  • The people pushing for war against Iran are the same people who pushed for war against Iraq, and said it would be a "cakewalk". See this and this

 

Dave’s Daily: http://www.etfdigest.com MARKETS ARE GETTING TIRED February 22, 2012Clearly it’s hard for markets to consistently produce 3%-5% monthly returns without taking a break. This is what we’re now seeing absent—more positive news. Jobless Claims data Thursday should shed some light on conditions as will next week’s Employment Report which needs to verify a better trend in conditions. Gallup is projecting an unemployment rate in excess of 9% again although they don’t seasonally adjust like the BS BLS does.We read yesterday some breathless financial commentators remarking that mutual funds showed the first positive fund flows since the previous January. That’s a nice assertion, but January is always a time for people to invest for their IRA or 401K and so forth. Surprisingly ETF fund flow data from the previous bullish week showed $1.2 billion in outflows for both equity and bond sectors.Basically, markets are just getting tired. We’ve remarked to members regarding weekly DeMark 9 count indicators which normally reflect “trend exhaustion”. This is not to say these counts are perfect and may just indicate some sideways movement ahead. And, that’s all we may be seeing despite how much liquidity global central banks are feeding bulls. Meanwhile the SEC’s Mary Shapiro said she’s worried about HFT (High Frequency Trading). Worrying isn’t a policy. Wake me when you’re on to something real.China reported another decline in manufacturing via an early PMI report there. Europe also reported a PMI below 50 indicating economic contraction. Back in the U.S. the NAR (National Association of Realtors) continues its serial misstatements as the current report showed a 4.75% increase in pending home sales but the previous report was adjusted from a 5% increase to a .05% decrease. How does that happen? Don’t they have computers?Wednesday markets felt a hangover from a poor Dell (DELL) report as we await Hewlett-Packard’s (HPQ) report after the close (which missed revenue estimates $30.04 billion vs 30.72 billion expected but was a little higher on “adjusted” earnings). TJX Corp (TJX) matched earnings estimates but Toll Brothers (TOL) missed reporting a small loss versus a small gain. The latter along with the untrustworthy report from the NAR pushed REITs lower (IYR) and Homebuilders (ITB). The lingering uncertainty regarding the Greek situation also pushed banks (KBE) and financials (XLF) lower.The downside of all this global central bank liquidity is well-seen in energy and precious metals markets. Oil fell a few pennies but remains quite high and gold (GLD) continued to soar. The dollar was down slightly and bonds were stronger. There’s a lot of posturing by politicians over who’s to blame for recently rising gasoline prices. All politicians and bureaucrats should just look in the mirror for an answer.Volume was once again ultra-light making it rather easy for HFTs to push things around even as little was accomplished overall Wednesday. Breadth per the WSJ was negative…’

 

 

 

Morning Snapshot

Feb 22nd, 2012 11:55 by News


22-Feb (USAGOLD) — Gold is little changed on the day after yesterday’s gains faltered just shy of the high for the year at 1763.15. However, the yellow metals ability to rebound from overseas downticks suggest that further tests of the upside may well be in the offing.

The white metals are helping to underpin gold today, amid rising concerns about supply disruptions. An ongoing labor dispute at South Africa’s second largest producer, as well as power issues are at the center of the recent run ups in platinum and palladium.

Hopes surrounding the latest agreement on securing Greece its second bailout have quickly evaporated. I don’t know of anyone that believes another bailout is going to solve the Greek problem. Fitch downgraded Greece to C today, just one-notch above default.

In my humble opinion, either a new government in April will renege on the promises made by the current government, or the Greeks will be right back in the same position — looking for a third bailout — in a couple years when they run through the latest €130 bln that has been pledged. In fact, the FT reported yesterday that there was a “strictly confidential” memo circulating among eurozone finance ministers that says as much: [E]ven under the most optimistic scenario, the austerity measures being imposed on Athens risk a recession so deep that Greece will not be able to climb out of the debt hole over the course of a new three-year, €170bn bail-out. (I think they meant to say $170bn there)

US existing home sales +4.3% in Jan to 4.57 mln, below market expectations of 4.650 mln.
• Eurozone Markit composite PMI unexpectedly dropped to 49.7 in Feb; services fell to 49.4, manufacturing rise to 49.0 was less than expected.
Germany Markit PMI – Manufacturing – 50.1 in Feb, below market expectations of 51.3, vs 51.0 in Jan; services slips to 52.6, also below expectations.
France Markit PMI – Manufacturing 50.2 in Feb, above market expectations of 49.1, vs 48.5 in Jan; services better at 50.3.
• Eurozone Industrial Orders (sa) 1.9% in Dec, above market expectations of 1.3%, vs -1.1% preliminary print.
France CPI 2.3% y/y in Jan, below expectations of 2.6%, vs 2.5% in Dec.
Italy CPI – NIC (including tobacco) – Final 3.2% y/y in Jan, in-line with expectations, vs 3.2% preliminary read.

The Secret Romer Stimulus Memo

Feb 22nd, 2012 11:30 by News

22-Feb (NYMagazine) — The largest question looming over Barack Obama’s presidency is what would have happened if he tried to push for a larger economic stimulus at the outset. Could he have gotten it passed? Did he think his plan was truly big enough, or just the biggest one he could pass?

In answer to that question, Noam Scheiber has acquired a major piece of the puzzle. While reporting his new book, The Escape Artists, which chronicles the administration’s response to the crisis, he got his hands on the fabled original version of Obama’s economic team’s 2008 memo, sort of the economic policy equivalent of the Blade Runner original cut. In the first version, Romer argues that a $1.8 trillion stimulus would be needed to fill in the anticipated output gap (which, in any case, turned out to be larger than anybody knew at the time.) But Larry Summers considered that figure unrealistically high — they would be laughed at by the political team — so the memo that reached Obama’s desk described an $850 billion stimulus as the largest possible option.

[source]

Platinum Climbs On Output Woes, Gold Slips

Feb 22nd, 2012 10:28 by News

22-Feb (Dow Jones) — Platinum futures marched higher Wednesday on continued supply disruptions in main producer South Africa, while gold edged lower as elation over the Greek bailout cooled.

The most actively traded platinum contract, for April delivery, was recently $29.70, or 1.8%, higher, at $1,714.60 a troy ounce on the New York Mercantile Exchange.

Platinum prices have swelled due to supply disruptions at Impala Platinum Holdings, the world’s second-largest producer of the metal. An ongoing labor dispute at Rustenburg, the company’s largest mine, has already resulted in two deaths and accounted for the loss of about 80,000 troy ounces of platinum output.

The production disruptions come as many South African platinum producers continue to struggle with a shortage of electrical power, which also curtails operations. South Africa is the world’s largest producer of the metal as a nation, which is most widely used in automotive catalysts.

“As long as there are labor issues [in South Africa] and as long as they have continuing power concerns, it’s going to be very bullish for platinum and, to a lesser extent, palladium,” said Graham Leighton, director of precious metals trading at Newedge.

[source]

PG View: Gold has actually recouped overseas losses and is now steady on the day.

Operation Twist: New York Fed purchases $1.839 billion in Treasury coupons.

Feb 22nd, 2012 10:20 by News

Fitch downgrades Greece on debt swap plan

Feb 22nd, 2012 08:21 by News

22-Feb (Reuters) — Fitch cut Greece’s long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

It said Greece would be designated as having technically defaulted after the bond exchange is formalized, but the new bonds would be given a new rating.

All three big ratings agencies — Fitch, Moody’s and Standard & Poor’s — downgraded Greece in July when an initial debt swap plan was unveiled and have warned that losses for private creditors would trigger a temporary default.

[source]

How Greece Could Take Down Wall Street

Feb 22nd, 2012 08:18 by News

22-Feb (EconMatters) — In an article titled “Still No End to ‘Too Big to Fail,’” William Greider wrote in The Nation on February 15th:

Financial market cynics have assumed all along that Dodd-Frank did not end “too big to fail” but instead created a charmed circle of protected banks labeled “systemically important” that will not be allowed to fail, no matter how badly they behave.

That may be, but there is one bit of bad behavior that Uncle Sam himself does not have the funds to underwrite: the $32 trillion market in credit default swaps (CDS). Thirty-two trillion dollars is more than twice the U.S. GDP and more than twice the national debt.

CDS are a form of derivative taken out by investors as insurance against default. According to the Comptroller of the Currency, nearly 95% of the banking industry’s total exposure to derivatives contracts is held by the nation’s five largest banks: JPMorgan Chase, Citigroup, Bank of America, HSBC, and Goldman Sachs. The CDS market is unregulated, and there is no requirement that the “insurer” actually have the funds to pay up. CDS are more like bets, and a massive loss at the casino could bring the house down.

[source]

European Stocks Lower Amid Skepticism Over Greek Deal

Feb 22nd, 2012 07:36 by News

22-Feb (Dow Jones) — European stocks fell Wednesday as investors continued to dissect the new bailout deal for Greece and after mixed business activity data, although there were a few bright spots on the corporate front.

At 1035 GMT, the benchmark Stoxx Europe 600 index was down 0.6% at 265.27. London’s FTSE 100 index was down 0.3% at 5909.68, Paris’s CAC 40 was 0.3% lower at 3455.03 and Frankfurt’s DAX was down 0.7% at 6856.55.

Although Greece has, in principle, secured a second bailout deal, questions remain on its implementation and effectiveness.

The next step is to see how willingly private sector creditors will participate in the deal. The Institute of International Finance has negotiated a deal on behalf of private holders of Greek debt that will see a 53.5% reduction in the nominal value of their holdings. IIF Managing Director Charles Dallara said on Tuesday it is up to individual investors to decide whether or not to accept the deal, although he expects a big take up.

Contagion risks are also a worry. Indeed, Portugal’s 10-year government bond yield didn’t paint a pretty picture. At 1040 GMT, Portugal’s 10-year government bond yield was up 8.20 basis points at 12.038%, according to Tradeweb.

[source]

Gold lower 1750.51 (-7.01). Silver 33.964 (-0.296). Dollar better. Euro lower. Stocks called lower. Treasuries higher.

 

 

 

Train Reading: It's Looking Like 2011 All Over Again  Wall Street Journal

 

 

 

[video] Trader: Market Correction Signs TheStreet 



It's Calm In Stock Land. Too Calm? The Wall Street Journal Russolillo  ‘…Nicholas Colas, chief market strategist at ConvergEx Group, says the VIX has closed above 20 just twice over the last month. This price action is the “market’s equivalent of a dog sleeping in the sun,” he says…’

 

Fitch downgrades Greece on debt swap plan

 

 

 

Recent Posts  http://theeconomiccollapseblog.com

 


Minimum wage for tipped workers in US hasn’t changed in more than 20 yrs

All Gov | Fed minimum wage for waiters and waitresses is frozen at $2.13 – worth 40% less than in 1991


Chinese… but made in Europe

Euronews | China is now moving west in its economic expansion with its first car plant in Europe



How Greece Could Take Down Wall Street

Ellen Brown | When the house is so obviously rigged, the legitimacy of the whole scheme is called into question.

 

 

It’s Official – Greece Unveils The Negative Salary, And A Whole New Meaning For “Pay To Play”

Zero Hedge | We thought we had seen it all. It turns out we hadn’t.



Anonymous Hacks Greek Ministry Website, Demands IMF Withdrawal, Threatens It Will Wipe Away All Citizen Debts

Zero Hedge | If there is one war that Greece could not afford to join, that is with the global computer hacking collective known as Anonymous.



Greek Debt Deal Done—Yeah Right

Greg Hunter | I keep asking myself, when is a deal not a deal?



How the Hell Does the Dow Break 13,000?  Daily Bell | Dow crosses 13,000 for first time since May 2008. Daily Bell
February 22, 2012

Dow crosses 13,000 for first time since May 2008 … Market sentiment was boosted by news that euro zone finance ministers secured a deal that will enable Greece to avoid a March default. A deal on the 130 billion euro ($172.47 billion) bailout was reached after Greece was forced to accept unpopular fiscal measures, and private bondholders agreed to steeper losses. Analysts said the deal was already priced into the market, which showed a muted response as initial optimism waned on questions about Greece’s dismal economic outlook. “Any pullbacks will be looked at as potential entry opportunities as investors, in many cases, are underperforming the benchmark S&P 500. As the market keeps impressing, market short-players will be forced to reconsider the macro bets they’ve made, and thus a run to cover could propel another upside surge.” – MSNBC

Dominant Social Theme: Let the good times roll.

Free-Market Analysis: In a number of articles now, we dealt with the idea that the economic statistics were being manipulated in the US to try to ensure Barack Obama‘s re-election.

How does something like that happen? Well, you have to assume that there is a powerful elite that directs the media at a high level. Of course, it helps that US media has “consolidated” to about five companies in total. If one owned those five corporations, it wouldn’t be difficult to manipulate news.

And Barack Obama is certainly a manipulated president. None of his background information has been made public, so far as we know – even going back to kindergarten. His scalp, when his hair is short, reveals a number of scars. What happened to him?

He’s one of the most powerful men on the planet. Don’t people have a right to know his background generally? How is it possible he gets away with concealing it?

You can almost smell the fear in the US Congress right now. Between FBI wiretaps, Homeland Security terror concerns and increasing unrest among US voters, those in Congress are living on a kind of knife-edge. And public office attracts a certain kind of people anyway.

These people are survivors and pragmatists. Either they are attracted to power generally or they believe they are advancing their careers. But little of it has to do with improving the “state of the nation.” The whole idea is to survive to the next term – or the next day – but many in the House of Representatives have already been sacrificed to onrushing dilemmas.

The US political system is effectively dead. It started dying after the Civil War and the 20th century oversaw its complete destruction. The 20th century was the century when the Anglosphere more fully implemented its one world conspiracy, apparently.

Woodrow Wilson had an elite handler, from what we can tell – Edward Mandell House. It was House who oversaw Wilson’s endless globalism. Under his watchful gaze, Wilson expanded the power of the presidency considerably, embroiled the US in a world war and oversaw the creation of the US Federal Reserve, income tax and the popular vote.

FDR further expanded Wilson’s globalism and each American president thereafter has done his part. John F. Kennedy and Ronald Reagan – two presidents that some onlookers might say were less amenable to the power-elite agenda – were targeted by assassins.

Who the assassins were is still controversial. In both cases – Reagan’s wounding and Kennedy’s death – the bullets involved behaved in an unusual way. Kennedy was shot by a “magic” bullet and Reagan was wounded by a bullet that ricocheted off the door of his limo and bounced backwards.

Bill Clinton, George Bush and now Barack Obama have evidently and obviously participated in elitist efforts to buildone-world government. The top elite families that control central banking are obviously intent on continuing their globalist efforts.

Obama’s actions in power have been no different than Clinton’s or Bush’s. Under Obama the economic calamity of fiat money expanded, a depression took hold and more wars have been started. This is all within the strategic ambit of a larger elite plot, from what we can tell.

The idea is apparently to create first an economic depression and then a larger regional or globalist war. Both of these strategies are being implemented now. One will make people accepting of global money and the other will allow the elites to arrest anyone who disagrees with them.

To this end, it would seem, those in control of Western politics have decided that Barack Obama is to have another term. The drumbeat of “good” economic news started quite a while ago. First we learned that the US’s economic picture was surprisingly “rosy” and employment was headed up.

Of course, this is simply not so. Unemployment is probably close to 20 percent in the US – and that’s just among those who haven’t given up looking for work. The figures being used are entirely phony.

Now we see that the stock market itself is in an optimistic phase, based on the EU‘s “agreement” with Greece. This is so much hooey. The US economy is not turning around and the Greek “deal” if it doesn’t unravel tomorrow or the next day is essentially meaningless.

Greek is broke and the elites have apparently decided to use it as an object lesson to frighten other Southern European PIGS into compliance with the “program” – which is a political as well as economic EU.

There is of course no recovery in the US. As we’ve written numerous times, the US economy – the West’s really – is in a metals bull market. Metals bull markets end with junior mining stock blowoffs, just as happened in the late 1970s. We’re several years away from such an event yet.

The drumbeat of “good” economic news will end when Barack Obama is re-elected president, so far as we can tell. At that point, the drumbeat of BAD economic news will likely resume as the powers-that-be continue to pursue their “pincer” strategy of bad economic times and expanding war. It worked in the 1930s – by the mid-1940s the rudiments of global government had emerged, including the UNIMFBIS and World Bank. It would seem the “next” push is underway now.

Of course, what we call the Internet Reformation is in our view, making it much harder for the elites to consolidate their globalist plans. That doesn’t mean they’re not going to try, however. They’re growing increasingly brutal, in our view – and their manipulations are increasingly obvious.

Conclusion: How they will deal with tens of millions of desperate people who UNDERSTAND the manipulations taking place is not clear to us. Perhaps there IS no backup plan. What they DO have in mind seems to involve Barack Obama.’

 

 

(2-22-12)   Dow  12,938  -27   Nasdaq  2,933  -15  S&P 500  1,357  -5 http://albertpeia.com/todaysbusinesssummarylinks.htm [CLOSE- OIL $105.78 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $3.48 (**The BTU-adjusted price of E-85 is the nationwide average price of E-85 adjusted to reflect the lower energy content as expressed in British Thermal Units - and hence miles per gallon - available in a gallon of E-85 as compared to the same volume of conventional gasoline…’ so adjusted=$4.00 – higher real than quoted price for respective states including CA, infra – another manipulation for the ‘feel good’ effect despite the inflationary over-printing of weimar dollars/currencies)  (reg. gas in LAND OF FRUITS AND NUTS  $3.76 REG./ $3.83 MID-GRADE/$3.93 PREM./ $4.20  DIESELL) /  GOLD $1,773 (+24% for year 2009) / SILVER $34.30 (+47% for year 2009) PLATINUM $1,716 (+56% for year 2009)  Metal News for the Day  / DOLLAR= .79 EURO, 75 YEN, .63 POUND STERLING, ETC. (How low can you go LOWER)/  Interest Rates:   http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield     10 YR NOTE YIELD 2.01%      AP Business Highlights       ...Yahoo Market Update…           T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies -  Domestic / International        This Is a Secular Bear Market and The End of Buy and Hold … and Hope          The bull market that never was/were  beyond wall street b.s. when measured in gold         ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data        This Depression is just beginning     The coming depression…  thecomingdepression.net           The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression  ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME! 

 

 

 

 

 

 

20 Things We Can Learn About The Future Of America From The Death Of Detroit

 http://theeconomiccollapseblog.com 

http://albertpeia.com/20thingshellholeamericasfuturedeathofdetroit.htm

{ Ah yes … those sweet sounds and smells of motown … the darks coming to a place near you! }

Do you want to know what the future of America is going to look like?  Just check out what is happening to Detroit.
 

 

 

 

Drug war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters  PF Louis | The hypocrisy of the war on drugs is centers on the amount of drug trafficking that benefits the CIA and international banking system. Natural News February 1, 2012  [  http://albertpeia/americangovernmentdrugtrafficking.htm     http://albertpeia/americascorruptiondrugtrade.htm  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm    http://albertpeia.com/fbimartinezcongallard.htm  
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ]  ‘The hypocrisy of the war on drugs is outrageous when compared to the amount of drug trafficking that benefits the CIA and international banking system. The son of a convicted notorious mobster, John Gotti Jr, when asked in court if the family still dealt drugs cracked, “No, we can’t compete with the government.”

Today in Afghanistan, American troops have been seen guarding poppy fields used to make heroin. Those fields were all but wiped out by 2001 when the Taliban destroyed them and forbade that agricultural pursuit. Now they’re flourishing again after the American occupation.

This doesn’t make sense despite all the mainstream reports that American troops are protecting the poppy farmers from the bad guys. Internet sites such as Prison Planet, Info Wars, The Political Coffeehouse and others report otherwise. They connect the CIA and US military to restarting the poppy fields in Afghanistan in 2002, increasing poppy growth by over 650 percent. Who’s telling it like it is?

One way the CIA keeps their drug trafficking hidden from public view

The CIA’s secret operations to influence journalism started in the 1950s by infiltrating the media and bribing journalists to be operatives and assets for the CIA. By 1976, then CIA director William Colby reportedly bragged that the CIA owned the press. Supposedly, this too secret to name operation was coined “Operation Mockingbird” by Deborah Davis in her book Katherine the Great.

Operation Mockingbird worked well against prize winning journalist Gary Webb when his newspaper, the San Jose Mercury News, ran his in depth series on CIA drug trafficking that flooded the USA to help finance the CIA backed Nicaraguan Contras during the 1980s.

Journalists all over the USA jumped on the series, claiming Webb’s journalism was shoddy. The newspaper had to recant and fire him, and Gary Webb was black listed from mainstream journalism completely.

 

Webb retaliated by having his book Dark Alliance published and making the NY Times best seller list, forcing some of his critics to privately eat crow after the fact.

Despite the CIA’s control of the press, a few Mexico and Central America cocaine busts of plane cargoes and discoveries of large cocaine stashes on crashed planes with CIA hired pilots flying them for front companies did hit the mainstream news, albeit briefly.

Remember the movie “Air America?” It was based on an actual CIA owned front company transporting tons of heroin from Southeast Asia’s “Golden Triangle” poppy fields during and after the Vietnam conflicts. Now Afghanistan and the “Golden Crescent” are the featured opium/heroin conduit sources.

Government and big business using drug traffic profits is nothing new

When the U.S. government made deals with the Cosa Nostra mafia to help police ports and harbors during WW II, they breathed life into the heroin trade. Eventually, Marseilles, France was set up by the Corsican mafia to become the “French Connection” for heroin traffic.

But opium trade history goes back further, to colonial times and early America. That’s when American shipping magnates used their fast Clipper Ships to compete with England’s monarch sanctioned dope running East India Company for transporting opium to China.

A few key players created family fortunes from the China opium trade that exist today within some northeast America’s “old money” families.

Among the familiar family names, according to Wikipedia (source below) is Forbes. Another source mentions Astor, a prominently wealthy philanthropic family around New York today (Wiki source below). In those days, trafficking dope was a legitimate business endeavor, immoral but not illegal.

Now it is illegal as well. Ironically, this allows the biggest illicit drug providers to financially benefit the CIA and international banking.’

 

Sources for this article include:

http://whatreallyhappened.com/RANCHO/POLITICS/MOCK/mockingbird.php

http://en.wikipedia.org/wiki/Forbes_family

http://en.wikipedia.org/wiki/John_Jacob_Astor

http://thepoliticalcoffeehouse.com/2011/12/01/us-military-opium-afghanistan/

http://www.minormusings.com/Drugs/Mask.html

 

 

See also:

Big Banks, Gov’ts Collude in Drug War Hypocrisy

Much Of Afghan Drug Money Going To ‘Our Friends’

Steady Stream of Drug Money Departs Afghanistan, U.S. Officials Flummoxed

Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard

Afghanistan drug trade hits $4 billion a year

Occupiers involved in drug trade: Afghan minister

US and NATO protecting Afghan drug trade

B.C. RCMP seize 60,000 poppy plants in record haul

NATO rejects Russian call for Afghan poppy spraying

War on drugs is a hoax: US admits to guarding, assisting lucrative Afghan opium trade

UN: Afghan opium production up by 61% under NATO’s watch

DOJ: Drug Cartel’s Influence Extends Well Beyond Border Well Into the U.S.

 

 

RealClearMarkets - Gary Shilling: New Global Recession Is Here (It’s actually a depression and no nation will be spared!) http://www.marketwatch.com/story/shilling-says-new-global-recession-is-here-2012-01-20?link=MW_story_popular By Howard Gold NEW YORK (MarketWatch)

 

 

 

2012 Update: What Part III of the financial crisis will look like

 

http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN138/PR

 

http://www.stansberryresearch.com

 

http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN111/PR

 

http://www.albertpeia.com/stansberrysinvestmentadvisory.flv   

 

http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm

 



 

'OBVIOUSLY UNSERVICEABLE DEBT TO WEIGH ON STOCKS IN 2012’ http://www.bullfax.com/?q=node-obviously-unserviceable-debt-weigh-stocks-2012  12/23/2011 By Chris Ciovacco: Referencing Kyle Bass’ work in a December 18 video, we noted numerous countries have an unstable combination of debt and revenue relative to the size of their banking system. Another excellent source for debt sustainability analysis comes from Jeffery Gundlach, manager of the 2011 top-performing U.S. bond fund. Mr. Gundlach was recently interviewed by the Financial Times. He does not subscribe to the theory European leaders can “put a Band Aid on a system which didn’t break a week ago…’

 

Tough Year For Stocks, Gold And Treasury ETFs Did Better  Forbes

 

 

My Christmas Cards Predict "Eternal Conflict" And "Economic Disaster" Forbes Robert Lenzner  ‘For the first time in my life, some Christmas messages are  weighing in  about the worrisome condition of  US economy and the financial markets– as well as  family news.  Obviously, the crisis we are  facing is  triggering disheartening expressions of concern at holiday time.

This from  a former state finance chairman for George Bush, who is so distressed he is staying out of the primary race.

On Jobs; ” I wonder why our candidates have not come forward to feature as the main and vital keystone of their campaign that sector in the economy which can create millions of jobs and solve our huge foreign trade deficit– converting our $300 billion plus purchase of foreign oil to domestic energy– electrification of transportation, more natural gas, nuclear, more domestic oil drilling, clean coal, and all the domestic alternatives.”

On the deficit:  ” I have also become very disheartened with our politicians’ inability to strike a grand compromise on reducing  the federal deficit. We are considerably constrained by the Grover Norquist tax pledge signed by so many Republicans, wherein an elimination of a tax loophole which takes the recovered revenue and applies it to reduce debt is considered a tax increase and therefore unacceptable. This position will never allow the Republicans to negotiate and compromise( a noble word) with the democrats on a combination of a massive expense reduction with a modest revenue increase.”

All this from a conservative Republican in a key state who is utterly frustrated by “ eternal gridlock in Washington“— and determined to spend considerably more quality time with his family. All this ranting in a Christmas card; it’s a first.

Then, there’s the retired New England real estate consultant and developer who is “fearful about the impending winter. The world seems to be perilously close to economic disaster and depression, and folks are rushing out to buy gold and guns.” ‘

 

 

A Very Scary Christmas And An Incredibly Frightening New Year http://theeconomiccollapseblog.com  ‘Can you hear that?  It almost sounds like a little bit of peace and quiet.  This year, the holiday season has been fairly uneventful, and for that we should be very grateful.  But it isn't going to last long.  2012 is going to be a much more difficult year for the U.S. economy and the global financial system than 2011 has been.  So if things are going well for you right now, enjoy this little bubble of peace and tranquility while you can.  Because while things may look calm on the surface right now, the truth is that this is a very scary Christmas for financial professionals and world leaders.  Most of them know how fragile the global financial system is at the moment.  Most of them know that we are living in the greatest bubble of debt, leverage and financial risk that the world has ever seen.  As I wrote about the other day, world leaders would not be throwing huge bailouts around like crazy if everything was going to be just fine.  The truth is that we are rapidly approaching another financial crisis that may end up being even worse than the horrific crash of 2008…’

 

 

Interbank Markets Are Telling Investors To Sell The Rally … Again http://www.bullseyemicrocaps.com/?p=30070 12-23-11 ‘The biggest question weighing on investors as we move into the final week of the year is how long Europe can be ignored. The S&P 500 has rallied 5% since testing and holding support at 1200 and is now firmly into resistance, an ideal spot for short sellers to lay out positions.European banks continue to tell equity market investors to stand aside. The ECB overnight deposit facility saw deposits swell to EUR346.9 billion overnight, up 31% from December 21st. A fair amount of the recently ECB auctioned EUR489 billion ended up right back at the ECB instead of in the interbank lending market.The ECB also reported a second week of anemic sovereign bond buying. The ECB doesn’t want to be the only bidder in the room, which is one of the reasons it has been so willing to stuff banks with cheap money. But, rising yields in Italy…’

 



The Smartest Guys in the Room Are Screaming "Get Out of the Markets!"   Todd Harrison http://www.minyanville.com/articles/articlelisting.htm#ixzz1hGAVUaU9

 

 

It's Official: US Debt-To-GDP Passes 100% With precisely one year left for the world and all of its inhabitants, at least according to the Mayans, not to mention on the day of the Winter Solstice, it is only fitting that US debt, net of all settlements for all already completed bond auctions, is now at precisely $15,182,756,264,288.80. Why is this relevant? Because the latest annualized US GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to GDP is 100.012%. Congratulations America: you are now in the triple digit "debt to GDP" club!

 

 

Mark Faber: "I Am Convinced The Whole Derivatives Market Will Cease To Exist And Will Go To Zero"Anyone seeking joyous holiday greetings and cheerful forecasts for the new year is advised to not listen to the following most recent Mark Faber interview, in which in addition to his predictions for 2012 (led with "more printing" by the dodecatupling +1 down central planners of course, and far less prosperity), we get the following: "I am convinced the whole derivatives market will cease to exit. Will become zero. And when it happens I don't know: you can postpone the problems with monetary measures for a long time but you can't solve them... Greece should have defaulted - it would have sent a message that not all derivatives are equal because it depends on the counterparty." And on the long-term future: "I am ultra bearish. I think most people will be lucky if they still have 50% of their money in 5 years time. You have to have diversification - some real estate in the countryside, some gold and some equities because if you think it through, say Germany 1900 to today, we had WWI, we had hyperinflation, WWII, cash holders and bondholders they lost everything 3 times, but if you owned equities you'd be ok. In equities in general you will not lose it all, it may not be a good investment, unless you put it all in one company and it goes bankrupt." As for gold: "I am worried that one day the government will take it away." As for the one thing he hates the most? No surprise here -government bonds.

 

 

 

 

 

Has the Global Economy Been Zapped by ZIRP?  Minyanville  Eugene Linden Dec 21, 2011 ‘Zero interest rate policies dominate the world's largest economies -- a situation that's contributing to the worsening pension crisis, the unnaturally buoyant equity markets, the need for quantitative easing, and even the bull market in gold. Read more: http://www.minyanville.com/businessmarkets/articles/zero-interest-rate-policy-zirp-us/12/21/2011/id/38513#ixzz1hFyFn7Pb  Eclipsed by Europe’s sovereign debt agony has been one overriding, but overlooked factor that will increasingly distort economies and the financial markets as 2012 unfolds: the Zero-Interest-Rate-Policy. ZIRP is now as encompassing and pervasive as the air we breathe, and this in itself is unprecedented.

Historically, examples of ZIRP are few and far between – and usually very brief – but now ZIRP and near-ZIRP dominate the interest rate policies for most of the world’s largest economies. We’re in uncharted territory. More worrisome, the longer an economy embraces ZIRP, the harder it is to extricate itself. In fact, as far as I can tell, no one has exited extended ZIRP intact and voluntarily. Some, like Kyle Bass, argue that once a nation gets trapped in ZIRP for an extended period, the only escape is through debt restructuring. Others say war.

ZIRP has been the policy of the United States since 2008; it has been the policy of Japan for most of the past two decades, and it is becoming the policy of the ECB, at least in terms of ECB short-term funding. Currently, over two trillion dollars of US debt is paying zero or near zero interest, as is trillions more debt in Japan and elsewhere. This unprecedented situation has contributed to the worsening pension crisis, the unnaturally buoyant equity markets, the rescue of US banks, the need for quantitative easing, and even the bull market in gold. It has spectacularly failed in its originally trumpeted mission to restart lending to the consumer (the money multiplier is still near all-time lows). And now, central bankers are discovering that ZIRP is a poisoned chalice.

The problem is as simple and intractable as human nature. So long as there's a market willing to buy a government’s debt (or buyers who can be forced to buy said debt), ZIRP offers the promise of vast new funds with virtually no increase in carrying costs. If the problem is short-term liquidity, the theory is that ZIRP buys the time necessary to restart growth. If the problem is solvency, however, ZIRP is viewed as an alternative to a painful restructuring. In that case (e.g. Japan), the rotten debts remain on the books of the banks, hobbling the lending that is necessary for the economic growth that will enable the central bankers to wean the economy off the drug.

Faced with little or no economic growth and anemic tax receipts, central bankers keep pumping out new debt. When Japan started with ZIRP, its debt to GDP ratio was 40%. In 2003 it was 93%. Now it’s 234%, and Japan’s aging buyers (Japanese purchase 95% of the country’s new debt) are starting to spend for their retirement, rather than save. Across the Pacific in the US, debt-to-GDP was 57% in 2000; in 2008, when the US adopted ZIRP, debt to GDP was about 68%; in the three years since it has risen to 99%.

The US did begin to approach ZIRP earlier in the last decade when Alan Greenspan drastically cut rates to 1% to restart a frozen credit market. That was a defensible response to a liquidity crisis, but Greenspan kept the policy too long, fueling the housing and credit bubbles, and setting the stage for the crash of 2008. ZIRP is like a opium-based painkiller. It might get you through a crisis (if there isn’t the political will for a restructuring), but chronic use is addictive and debilitating. The mechanics of the addiction are simple: the more debt-burdened an economy becomes, the more additional debt it needs for growth, and the less growth we get for the increment. This is termed debt saturation. A dollar of new debt in 1960 produced about 90 cents of additional GDP. That ratio turned negative in the last couple of years.

At the same time, to keep the interest burden of debt from spiraling out of the control, nations are tempted to shift to shorter duration. This has the effect of leaving a country ever more vulnerable should central bankers be forced to raise interest rates. Interest payments are now just 1% of GDP and 5.7% % of US expenditures, actually fairly low (though, even at these levels, interest chews up 14% of each tax dollar collected). In fact, the interest bill for US debt is just 4.6% higher than it was in 2007 and virtually the same as in 2008 despite the fact that the debt has exploded since those years. The average rate the US pays on debt is about 3%, and is coming down as roughly half the debt gets rolled each year.

 
Interest Expense on the Debt Outstanding
Available Historical Data Fiscal Year End

2011

$454,393,280,417.03

2010

$413,954,825,362.17

2009

$383,071,060,815.42

2008

$451,154,049,950.63

2007

$429,977,998,108.20

2006

$405,872,109,315.83

2005

$352,350,252,507.90

2004

$321,566,323,971.29

2003

$318,148,529,151.51

2002

$332,536,958,599.42

2001

$359,507,635,242.41

2000

$361,997,734,302.36

1999

$353,511,471,722.87

1998

$363,823,722,920.26

1997

$355,795,834,214.66

1996

$343,955,076,695.15

1995

$332,413,555,030.62

1994

$296,277,764,246.26

1993

$292,502,219,484.25

1992

$292,361,073,070.74

1991

$286,021,921,181.04

1990

$264,852,544,615.90

1989

$240,863,231,535.71

1988

$214,145,028,847.73

 
But we’ve reached a place where even a historically modest rise – say 2% -- would start gobbling huge chunks of tax revenue to the point where tax revenues are flat to declining. The longer ZIRP continues, the more onerous the cost of raising interest rates. Past some unknown point, ZIRP begets more ZIRP. We may be past that point as the fed has said ZIRP will be the US policy into 2013. If the natural buyers get wary, there is always the Fed to buy the debt. What we saw earlier this year was that even as the Chinese balked at buying treasuries (down from 47% of new issuance in 2006 to 5% in 2010), the Fed stepped in through quantitative easing to buy the lion’s share of new debt. That program ended in July, but then, in the nick of time, the European sovereign debt crisis went critical, and prompted foreign buyers to show up (and the FED is still in there as it reinvests proceeds as securities roll off its balance sheet). Should the flight to safety abate, it’s highly likely QE will resume if only because this is a treadmill from which there is no escape (a recognition of which may have played into the historic S&P downgrade of US debt).

http://image.minyanville.com/assets/FCK_Jan2011/images/Lila/eugenechart1.JPG

How long can this continue? In Japan it has continued for nearly 20 years, thanks to a thrifty population with $17 trillion in savings. But even that party is approaching endgame. Its massive debt has already been downgraded, now Aa3, but it still pays less than Germany, with an average interest expense of 1.12% this year. Japan’s problem is that its aging savers are becoming spenders (the savings rate dropped to 3% this year) and the population has dropped 3% in the past few years as well. So it has fewer, cash-flow negative citizens to absorb ever more debt. Long term rates and dollar swaptions have already started to edge up, and, having run huge deficits since the inauguration of ZIRP in 1993, Japan has little capacity to endure an interest rate hike. According to Kyle Bass, who analogizes a Japan short to the subprime play in 2007-08, a 100 basis point rise in debt service costs would consume an additional 25% of tax revenue. Disregard any talk that might come from Japan about raising interest rates, it simply cannot happen.

 

ZIRP turns out to be a trap that ensnares everybody, and not just the countries that adopt the policy. During a briefing an economist from Tejas made the comment that once a major economy adopts ZIRP, Central Banks all over the world lose control of their monetary policy. I was puzzled about the mechanics of that until I came across an example from Israel.
 
The transmission mechanism is the carry trade.  Starting in 2009, despite its precarious geopolitical situation, Israel saw its currency strengthen as investors came in searching for yield. According to Michael Pomerleano writing in the Financial Times, as the shekel strengthened against the dollar, its central bank was forced to intervene to buy Shekel’s lower interest rates and weaken the currency, even though the bank actually wanted to raise rates to combat alarming inflation in the housing sector.

While foreign money might be enticed to borrow in ZIRP countries and invest elsewhere, domestic institutions like pension funds and insurers are driven to search for yield to meet the estimated returns embedded in their models. A pension fund using an 8% expected return is going to find itself ever deeper underwater if it is stuck in fixed income in such an interest rate regime. This is one reason hedge funds haven’t gone out of fashion even though their returns have been more dismal than not since 2008. The search for yield has also underpinned the recovery of the High Yield market since  the crash. ZIRP may have saved pensions and insurers from an immediate crash in 2008, but it has subjected them to a merciless squeeze ever since.

Individual savers find themselves caught between embracing risk and spending principal. This is not the choice retiring baby boomers expected, particularly since most were under-saved for retirement even as other safety nets develop holes.

Other unintended consequences have to do with the freeze up in interbank lending. With short term yields virtually non-existent, there is no incentive for the big banks to use funds in excess reserves to lend to smaller banks. Why take any risk in interbank lending when your reward is virtually the same as holding cash. The lack of liquidity in the interbank market in turn disrupts the forward market for FX futures (according to Stamford economist Ronald McKinnon), and this in turn makes lenders less willing to back letters of credit for exporters – something that happened in the midst of the crisis in 2008.

There have been positive benefits of ZIRP, including cheap debt for those companies lucky enough to have access to the credit markets. Most notably, has been the relationship between ZIRP’s evil twin, quantitative easing, and the buoyant stock market. Nothing makes this point as starkly as a simple chart of the S&P in 2011. The first half year was relatively smooth under the protective umbrella of quantitative easing, while the second half looks like the EKG of a heart attack (see below).

http://image.minyanville.com/assets/FCK_Jan2011/images/Lila/eugenechart3.jpg
Click to enlarge

Ben Bernanke is a brilliant economist, and I’m certain that he is more aware than I am of the pitfalls of employing ZIRP for an extended period. So why did he do it? My guess is that he went to ZIRP because he felt he had no choice. In 2008 he was caught between a rock and a hard place. On the one hand, he desperately needed to funnel money and a yield curve to the banks. All well and good, but the defensible solution–the course taken by Sweden in 1993–would have been to saddle the taxpayers with these costs only after the banks’ shareholders and debt holders had shared the pain. As one pundit put it: a nation needs banks, but a nation doesn’t need these particular banks.
 
So again, why didn’t Bernanke recognize that? A few people know, and they haven’t been saying. One suspicion is that our major creditors in Asia and the Mideast were also huge holders of bank shares and debt and threatened mutually assured destruction if they were forced to write down these holdings. Another, simpler explanation, is that US pension funds were also huge holders of shares and debt of the banks as well as of mortgage-backed securities, and that an omnibus write down of all these assets would cause a pension crisis the likes of which this country had never seen.

ZIRP, in concert with the various bailout programs and the stimulus, offered a way to buy time, and that’s what happened. But what happens next?

Right now, this question is still at the edges of the radar. When ZIRP is discussed at all, it is in the context of inflation fears. Indeed, inflation is one way a debt burden might be reduced, but when that day comes, soaring interest rates will force defaults and restructurings. The Goldilocks solution is to grow our way to exit. Given that both governments and households are still burdened with trillions in excess debt (as well as the issue of debt saturation), it is difficult to imagine how we could finance that growth even if an obvious and politically viable path to growth presented itself. This suggests that we will do what Japan has done and string out ZIRP until something – internal or external – forces a change.

This means that the economy and the markets will remain in this surreal context of ZIRP for an indeterminate period, even as awareness grows that there will be no controlled ending for this halcyon period. It means that there will be further episodes of quantitative easing, either overt or by stealth.

This money will likely flow into equity markets as it has in the past. It also means that government institutions will likely be major players in interbank lending for the indefinite future and that consumer lending will be constrained for the indefinite future. And with major economies printing money to maintain the illusion that there is a market for their sovereign debt, it means that commodities will continue to find a bid, even as the global economy contracts (though there will be dramatic downdrafts on specific events such as noticeable cooling in China).

It also means that the pension crisis will continue to worsen, and that the already dire situation for retirees will continue to worsen, with implications for burdens on various levels of government as well as for consumer spending.

And then, of course, ZIRP, though encompassing, is but one of the factors that will be influencing our markets in the coming months. The unresolved sovereign debt issues in the EU, a cooling China economy, and a host of US issues, also cloud the future. For the moment ZIRP hovers at the edges of the mindspace of a financial community focused on Europe and other critical issues. But, make no mistake, we’re in unknown territory as far as knowing at what constitute’s ZIRP’s event horizon, the point beyond which there is no escape. Has Japan crossed that point? Is the US approaching it? One hopes that we don’t discover this answer in retrospect.


Read more: http://www.minyanville.com/businessmarkets/articles/zero-interest-rate-policy-zirp-us/12/21/2011/id/38513#ixzz1hFzolvlA 



 

 

Getting Worse: 40 Undeniable Pieces Of Evidence That Show That America Is In Decline The Economic Collapse | Is America in decline? That is a very provocative question. The Economic Collapse December 21, 2011

Is America in decline?  That is a very provocative question.  I have found that most people that hate the United States are very eager to agree that America is in decline, while a lot of those that love the United States are very hesitant to admit that America is in decline.  Well, I am proud to be an American, but I cannot lie and tell you that America is doing just fine.  The pieces of evidence compiled below are undeniable.  Our economy is deathly ill and is rapidly getting worse.  We were handed the keys to the greatest economic machine in the history of the world and we have wrecked it.  But until we are willing to look in the mirror and admit how bad things have gotten, we won’t be ready for the solutions that are necessary.  The truth is that there are things that we can do to reverse the decline.  It does not have to be permanent.  We have gotten away from the things that made America great, and we need to admit that we are on the wrong path and start fixing this country.  But if we choose to continue down the road that we are currently on, it will lead us into the darkest chapters in American history.

The following are 40 undeniable pieces of evidence that show that America is in decline….

#1 Back in 1985, 11 million vehicles were sold in America.  In 2009, only 5.4 million vehicles were sold in America.

#2 In 1990, the median age of a vehicle in the United States was just 6.5 years.  Today, the median age of a vehicle in the United States is approximately 10 years.

#3 The average price of a gallon of gasoline in 2011 has been $3.50.  That is a new all-time record.  The previous record was $3.24 in 2008.

#4 The average American household will have spent an astounding $4,155 on gasoline by the time the year is over.

#5 The number of children in the United States without a permanent home has increased by 38 percent since 2007.

#6 A decade ago, the United States was ranked number one in average wealth per adult.  By 2010, the United States had fallen to seventh.

#7 The U.S. tax code is now more than 50,000 pages longer than it used to be.

#8 American 15-year-olds do not even rank in the top half of all advanced nations when it comes to math or science literacy.

#9 The United States once had the highest proportion of young adults with post-secondary degrees in the world.  Today, the U.S. has fallen to 12th.

#10 After adjusting for inflation, U.S. college students are borrowing about twice as much money as they did a decade ago.

#11 The student loan default rate has nearly doubled since 2005.

#12 Our economy is not producing nearly enough jobs for our college graduates.  The percentage of mail carriers with a college degree is now 4 times higher than it was back in 1970.

#13 Our infrastructure was once the envy of the world.  Today, U.S. infrastructure is ranked 23rd.

#14 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

#15 Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you adjust for inflation.

#16 According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years.  During 2010 it got even worse.  Last year, an average of 23 manufacturing facilities a day shut down in the United States.

#17 In all, more than 56,000 manufacturing facilities in the United States have shut down since 2001.

#18 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.

#19 Manufacturing employment in the U.S. computer industry was actually lower in 2010 than it was in 1975.

#20 In 1959, manufacturing represented 28 percent of all U.S. economic output.  In 2008, it represented only 11.5 percent.

#21 The television manufacturing industry began in the United States.  So how many televisions are manufactured in the United States today?  According to Princeton University economist Alan S. Blinder, the grand total is zero.

#22 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.

#23 The Economic Policy Institute says that since 2001 America has lost approximately 2.8 million jobs due to our trade deficit with China alone.

#24 According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for inflation.

#25 Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

#26 The size of the economy in India is projected to surpass the size of the U.S. economy by the year 2050.

#27 One prominent economist believes that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

#28 In 2001, the United States ranked fourth in the world in per capita broadband Internet use.  Today it ranks 15th.

#29 Back in the year 2000, 11.3% of all Americans were living in poverty.  Today, 15.1% of all Americans are living in poverty.

#30 Last year, 2.6 million more Americans dropped into poverty.  That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.

#31 According to the U.S. Census Bureau, 6.7% of all Americans are living in “extreme poverty”, and that is the highest level that has ever been recorded before.

#32 The percentage of children living in poverty in the United States increased from 16.9 percent in 2006 to nearly 22 percent in 2010.  In the UK and in France the child poverty rate is well under 10 percent.

#33 As I wrote about the other day, since 2007 the number of children living in poverty in the state of California has increased by 30 percent.

#34 A staggering 48.5% of all Americans live in a household that receives some form of government benefits.  Back in 1983, that number was below 30 percent.

#35 Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid.

#36 Between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.

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

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

#39 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

#40 The U.S. national debt is now nearly 15 times larger than it was just 30 years ago.

Sadly, most Americans are not fired up about turning this country around.  Way too many of them realize that things are getting worse, but they have “checked out” and are just going through the motions of life.

A perfect example is posted below.  In this video, a FedEx delivery guy just chucks a computer monitor over somebody’s fence……Can you believe he did that?

The sad thing is that the guy was actually home at the time and all the FedEx employee needed to do was ring the bell.

This is the kind of attitude that is killing America.

We all need to start caring again.  We all need to start taking pride in what we do.  We all need to start working hard again.  We all need to make sure that we are living with a sense of personal integrity.

When a nation simply does not care anymore, even a con man can become president.

During a recent 60 Minutes interview, Barack Obama said that only 3 presidents in U.S. history accomplished more than he did during the first two years of his presidency….

“The issue here is not going be a list of accomplishments. As you said yourself, Steve, you know, I would put our legislative and foreign policy accomplishments in our first two years against any president — with the possible exceptions of Johnson, F.D.R., and Lincoln — just in terms of what we’ve gotten done in modern history. But, you know, but when it comes to the economy, we’ve got a lot more work to do.”

He had to be joking, right?

Sadly, he was not joking.

But it is not just Barack Obama.  The truth is that both political parties are absolutely littered with con men, charlatans and corrupt politicians.

It is going to be up to the American people to get educated about how bad things have really gotten, to start demanding solutions, and to start voting much better people into positions of authority.

If dramatic changes are not made, our economy will continue to get worse and the decline of America will continue to accelerate.

We cannot stay on this road my friends.

It is only going to lead to a total nightmare.

Please share this information as widely as possible, and please try to wake up as many of your fellow Americans as you can while there is still time.’

 

 

 

 

 

Ten Reasons To Fear And Loathe Markets In 2012  Forbes Robert Lenzner

#1. European Sovereign Debt  is a greater burden on the economies of Italy and France than the debt overhang in  the U.S. Italy has $2.46 trillion of debt to a $2 trillion GDP. As Vice President Biden puts it “We did our bailout. They’ve got to do their bailout.”  The posturing has been limited to letting nations borrow cheaply to add on more debt so as not to default.

#2. The ramification  for the US  from Europe is  a reduction of 1% growth in US GDP– which means much less growth than might have been expected. This, in turn, puts added stress on valuations in our financial markets, where multiples of earnings are expected to slide as investors run away from risk-on assets.

#3. Continued pressure on the earnings and book values of both European and US banks. This can be seen in the way bank shares have traded this year, with global banks getting pounded, and only regional banks with strong balance sheets being favored.

#4. Continued  selling pressure on the prices of key commodities like oil, copper and iron ore due to expectd slowness i the global economy.

#5.  The imbecility of extending the payroll tax deduction for only two more months– a horrendous sign of political weakness with dire economic ramifications.

#6. Residential housing market still mightily impaired and not expected to recover for another 3 years. Still many millions of homes where mortgage debt greater than the market value of the homes.

#7. Antipathy individual investor for long term equity investing. Rise of the short-yterm investor such as hedge funds using leverage, requiring volatility, better informed than the public investor.

#8. Expectation reduction $1.2 trillion from US budget over next 10 years. Can only mean less money in circulation, less income to invest, lower GDP, less economic growth rate. This is the reality being denied by most investors.

#9. Overall theme of  deflation, deleveraging can only mean lower asset prices.

#10.  Chance of social unrest in China, upheaval that affects move to consumer economy,  and lack of leadership from 10% of global economy.

 

 

We’ve Reached the End Game For Central Bank Intervention   http://gainspainscapital.com December 19th, 2011 We’ve reached the end game for Central Bank intervention.When confronted with excessive debt, you can either “take the hit” or you can try to inflate the debt away.In 2008, the Central Banks, lead by the US Federal Reserve, decided not to “take the hit.” They’ve since spent trillions of Dollars propping up the financial system. By doing this, they’ve essentially attempted to fight a debt problem by issuing more debt.The end result is similar to what happens when you try to cure a heroine addict by giving him more heroine: each new “hit” has less and less effect.Case in point, consider the Central Banks’ coordinated intervention to lower the cost of borrowing Dollars three weeks ago. Remember, this was a coordinated effort, not the Federal Reserve or European Central Bank acting alone. And yet, here we are, less than one month later, and European banks have wiped out MOST if not ALL of the gains the intervention produced…’

 

 

 

Derivatives group spent $674K lobbying in Q3 AP

 

 

 

PORTER STANSBERRY OF STANSBERRY RESEARCH

THE CORRUPTION OF AMERICA

The numbers tell us America is in decline... if not outright collapse.

I say "the numbers tell us" because I've become very sensitive to the impact this kind of statement has on people. When I warned about the impending bankruptcy of General Motors in 2006 and 2007, readers actually blamed me for the company's problems – as if my warnings to the public were the real problem, rather than GM's $400 billion in debt.

The claim was absurd. But the resentment my work engendered was real.

So please... before you read this issue, which makes several arresting claims about the future of our country... understand I am only writing about the facts as I find them today. I am only drawing conclusions based on the situation as it stands. I am not saying that these conditions can't improve. Or that they won't improve.

The truth is, I am optimistic. I believe our country is heading into a crisis. But I also believe that... sooner or later... Americans will make the right choices and put our country back on sound footing.

Please pay careful attention to the data I cite. And please send me corrections to the facts. I will happily publish any correction that can be substantiated. But please don't send me threats, accusations against my character, or baseless claims about my lack of patriotism. If I didn't love our country, none of these facts would bother me. I wouldn't have bothered writing this letter.

I know this is a politically charged and emotional issue. My conclusions will not be easy for most readers to accept. Likewise, many of the things I am writing about this month will challenge my subscribers to re-examine what they believe about their country. The facts about America today tell a painful story about a country in a steep decline, beset by problems of its own making.

One last point, before we begin... I realize that this kind of macro-economic/political analysis is not, primarily, what you pay me for.

You rightly expect me to provide you with investment opportunities – whether bull market, bear market, or total societal collapse. And that's what I've done every month for more than 15 years.

But that's not what I've done this month. You won't find any investment ideas at all in these pages. This issue is unlike any other I have ever written.

I'm sure it will spark a wave of cancellations – costing me hundreds of thousands of dollars. I fear it will spark a tremendous amount of controversy. Many people will surely accuse me of deliberately writing inflammatory things in order to stir the pot and gain attention. That's not my intention. The truth is, I've gone to great lengths throughout my career to protect my privacy.

I am speaking out now because I believe someone must. And I have the resources to do it. I am sharing these ideas with my subscribers because I know we have arrived at the moment of a long-brewing crisis.

Our political leaders, our business leaders, and our cultural leaders have made a series of catastrophic choices. The result has been a long decline in America's standard of living.

For decades, we have papered over these problems with massive amounts of borrowing. But now, our debts total close to 400% of GDP, and America is the world's largest borrower (after being the world's largest creditor only 40 years ago)... And the holes in our society can no longer be hidden...

We've reached the point where we will have to fix what lies at the heart of America's decline... or be satisfied with a vastly lower standard of living in the future.

How do I know? How do I statistically define the decline of America?

The broadest measure of national wealth is per-capita gross domestic product (GDP). Economists use this figure to judge standards of living around the world. It shows the value of the country's annual production divided by the number of its citizens. No, the production isn't actually divided among all the citizens, but this measure provides us with a fair benchmark to compare different economies around the world. Likewise, this measure shows the growth (or the decline) in wealth in societies across time.

So... is America growing richer or poorer based on per-capita GDP? Seems like a simple enough question, doesn't it? Is our economy growing faster than our population? Are we, as individuals, becoming more affluent? Or is the pie, measured on a per-person basis, growing smaller?
This is the most fundamental measure of the success or the failure of any political system or culture. Are the legal and social rules we live under aiding our economic development or holding us back? What do the numbers say?

Unfortunately, it's a harder question to answer than it should be. The problem is, we don't have a sound currency with which to measure GDP through time. Until 1971, the U.S. dollar was defined as a certain amount of gold. And the price of gold was fixed by international agreement. It didn't actually begin to trade freely until 1975. Therefore, the value of the U.S. dollar (and thus the value of U.S. production, which is measured in dollars) was manipulated higher for many years.

Even today, our government's nominal GDP figures are greatly influenced by inflation. The influence of inflation is particularly pernicious in GDP studies. You see, inflation, which actually reduces our standard of living, drives up the amount of nominal GDP. So it creates the appearance of a wealthier country... while the nation is actually getting poorer.

The only real way to accurately measure per-capita GDP is to build our own model. The need to build our own tools tells you something important – the government doesn't want anyone to know the answer to this question. It could easily publish data far more accurate than the indexes it puts out. But government doesn't want anyone to know. And it wants to be able to say "those aren't the real data" when studies like ours produce bad news.

So pay attention to how we built our charts. You can see for yourself that our data are far more accurate than the government's figures. Our data are based on the real purchasing power of the currency, not the nominal numbers, which are completely meaningless in the real world.

The question we are trying to answer is: What would per-capita GDP numbers look like, if we used a real-world currency, like gold, or a basket of commodity prices, instead of the paper-based U.S. dollar? What would the figures be if we measured GDP in sound money instead of the government's funny money?

Here's how we figured it out. We took the government numbers for nominal GDP and measured them first against commodity prices, and later (after it began to trade freely) gold. We used a standard commodity index (the CRB) up to 1975 and gold post-1975. The result of this analysis shows you the real trend in U.S. per-capita GDP, as measured on a real-world purchasing power basis.

Our analysis shows you what's actually happened to our real standard of living. The results, we suspect, will surprise even the most bearish among you.

America is in a steep decline.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/12/porter%201.png

Americans Are Getting Poorer – Fast

Let me anticipate the "official" criticism of our study. Many people will claim that our numbers aren't "real." They will say that we "mined" the data to produce a chart that showed a steep decline.

That's simply not so. All we've done is convert the government's nominal GDP stats into a fixed currency value that's based on real-world purchasing power. The fact is, our data are far more accurate than the government's because they represent the real-world experience.

That's why our data are far more closely correlated to other real-world studies of wealth in America.

Consider, for example, annual sales of automobiles. Auto sales peaked in 1985 (11 million) and have been declining at a fairly steady rate since 1999. In 2009, Americans bought just 5.4 million passenger cars. As a result, the median age of a registered vehicle in the U.S. is almost 10 years.

Our data shows that real per-capita wealth peaked in the late 1960s. Guess when we find the absolutely lowest median age of the U.S. fleet? In 1969. At the end of the 1960s, the median age of all the cars on the road in the U.S. was only 5.1 years. Even as recently as 1990, the median age was only 6.5 years.

Rich people buy new cars. Poor people do not.

Most important, our data "proves" something I know many of you have felt or perceived for many years. You've seen the decline of your neighborhoods. You've gone years without being able to earn more money in your job. Or you've seen your purchasing power decrease to the point where you're now substituting lower-quality products on your grocery list for the brand-name products you used to buy.

You can see how much harder it is on your children to find good jobs, to buy good housing or a new car. As a result, few people under the age of 40 have the same kind of "life story" as their parents.

And because they can't "make it," many have decided to "fake it." The average college student now graduates with $24,000 in debt... and by his late 20s has racked up more than $6,000 in credit card debt. Meanwhile, median earnings for Americans aged 25-34 equals $34,000-$38,000. (Source: Demos.org, "The Economic State of Young America," November 2011.)

Can you imagine starting your life out as an adult with a personal debt-to-income level at close to 100%? What does this say about the state of our economy? What does this say about the state of our culture?

Who Suffers Most

It's not only the young that are having trouble in America. It is also the old.

Debt levels among households headed by people older than 62 have been rising for two decades. The average mortgage size for this population is now $71,000 – five times larger than it was in 1987 (adjusted for inflation), according to William Apgar of Harvard's Joint
Center
for Housing Studies.

Older Americans are also more reliant on credit card debt than ever before... credit card debt. From 1992 through 2007 (which is the latest data available) older Americans took on credit card debt at a faster pace than the population as a whole. According to USA Today, lower- and middle-income Americans aged 65 and older now carry an average of more than $10,000 in credit card debt, up 26% since only 2005.
Given average interest rates of 20% for these debts, it's a fair bet that these obligations will never be repaid. But they will have a terrible impact on the standard of living of these older Americans.

What in the heck is going on? Don't Americans pay off their mortgages before they retire? Don't they work hard during their careers, save, and invest, so they can move to Florida and spend their retirement in comfort?

Older Americans living with credit card debt! This doesn't sound like America, does it? Or maybe it does.

My bet is that most of my subscribers know that something has gone terribly wrong with America. It's not easy to figure out how all of this happened... but you know from your own experiences that these numbers aren't wrong. It might not be pleasant to think about... but these figures paint a sad but accurate picture: America is not the country it was 40 years ago. These changes are warping our economy, politics, and culture.

In this month's issue, I'd like to try to define a few of the core reasons we're in this situation. I can't possibly analyze all the factors that have led to this decline. But I want to document the growth of graft in politics. I want to demonstrate – with real facts and examples – how public company leadership has deteriorated. And I want to document some of the things that are occurring in the broader society, all of which I believe are linked to this fundamental decline in our standard of living.

You see, I believe the decline of our country is primarily a decline of our culture.

We have lost our sense of honor, humility, and the dedication to personal responsibility that, for more than 200 years, made our country the greatest hope for mankind. I want to detail some of the factors that gave rise to the current entitlement society. We have become a country of people who believe their well-being is someone else's responsibility.

I've labeled these problems: The Corruption of America.

These problems manifest themselves in different ways across institutions in all parts of our society. But at their root, they are simply facets of the same stone. They are all part of the same essential problem.

The corruption of America isn't happening in one part of our country... or in one type of institution. It is happening across the landscape of our society, in almost every institution. It's a kind of moral decay... a kind of greed... a kind of desperate grasp for power... And it's destroying our nation.

The Ethos of 'Getting Yours'

Americans know, in their bones, that something terrible is happening. Maybe you can't articulate it. Maybe you don't have the statistics to understand exactly what's going on. But my bet is, you think about it a lot.

For me, a poignant moment of recognition came this month.

Bloomberg news published an article based on confidential sources about how Henry Paulson, the former CEO of Goldman Sachs and the Republican U.S. Treasury secretary during the financial crisis, held a secret meeting with the top 20 hedge-fund managers in New York City in late July 2008. This was about two weeks after he testified to Congress that Fannie Mae and Freddie Mac were "well-capitalized."
I knew for a fact that what Paulson told Congress wasn't true. I wrote my entire June 2008 newsletter detailing exactly why Fannie and Freddie certainly had billions in losses that they had not yet revealed to investors – $500 billion in losses, at least. There was no question in my mind, both companies were insolvent – "zeros," as I explained.

And yet, in front of Congress, the U.S. Treasury secretary was saying exactly the opposite. Either I was a liar... or he was.
Then... only a few days later... what did Paulson tell those hedge-fund managers?

He told them the same thing I had written in my newsletter. He told them the opposite of what he'd said publicly to Congress. He told these billionaire investors that Fannie and Freddie were a disaster... They would require an enormous, multibillion-dollar bailout... The U.S. government would have to take them over... And their shareholders would be completely wiped out.

Here you had a high-government official, explicitly lying to Congress (and by extension, the general public), while giving the real facts to a group of people who represented the financial interests of the world's wealthiest folks. The story didn't come to the public's attention for two years.

This was the most outrageous example of graft and corruption I have ever seen. Certainly it involves more billions of dollars in misappropriated value than any other similar story I can recall. These managers had the risk-free ability to make tens of billions of dollars, if not hundreds of billions, by using derivatives to capitalize on what they knew was the imminent collapse of the world's largest mortgage bank. Who picked up the tab? You know perfectly well. It was you and me, the taxpayers.

(One of the investment managers present at this meeting was Steve Rattner, who by that point was already deeply involved in another bit of graft, his efforts to bribe New York state pension-fund managers for large investments into his hedge fund, from which he earned perhaps as much as $100 million. He later settled the charges for a mere $10 million shortly after Andrew Cuomo was elected governor of New York.)
The Bloomberg story... about a crooked Treasury secretary handing a room full of crooked billionaires inside information worth billions of dollars... hardly caused a ripple. As far as I know, no actions are being planned against Henry Paulson or any of the hedge-fund managers involved. No other major media outlet picked up the story. I saw nothing about it from the Department of Justice or the Securities and Exchange Commission.

What does that say about our country when even the most egregious kind of corruption – involving hundreds of billions of dollars – is simply ignored?

It seems like everyone in our country has lost his moral bearing, from the highest government officials and senior corporate leaders all the way down to schoolteachers and local community leaders. The ethos of my fellow Americans seems to have changed from one of personal integrity and responsibility to "getting yours" – the all-out attempt, by any means possible, to get the most amount of benefits with the least amount of work.

You can see this in everything from the lowering of school standards (revising the SAT) to the widespread use of performance-enhancing drugs in professional, college, and high school sports. Cheating has become a way of life in America.

I have an idea about how this happened... about the root cause of this kind of corruption and why it was inevitable, given some of the basic facts regarding how we've organized our government and our corporations.

Let me show you the numbers – the hard facts – behind what's happened to our country...’

 

 

 

50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe  The Economic Collapse | If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies. December 16, 2011 ‘Even though most Americans have become very frustrated with this economy, the reality is that the vast majority of them still have no idea just how bad our economic decline has been or how much trouble we are going to be in if we don’t make dramatic changes immediately.  If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies that our politicians keep telling them.  Just “tweaking” things here and there is not going to fix this economy.  We truly do need a fundamental change in direction.  America is consuming far more wealth than it is producing and our debt is absolutely exploding.  If we stay on this current path, an economic collapse is inevitable.  Hopefully the crazy economic numbers from 2011 that I have included in this article will be shocking enough to wake some people up.

At this time of the year, a lot of families get together, and in most homes the conversation usually gets around to politics at some point.  Hopefully many of you will use the list below as a tool to help you share the reality of the U.S. economic crisis with your family and friends.  If we all work together, hopefully we can get millions of people to wake up and realize that “business as usual” will result in a national economic apocalypse.

The following are 50 economic numbers from 2011 that are almost too crazy to believe….

#1 A staggering 48 percent of all Americans are either considered to be “low income” or are living in poverty.

#2 Approximately 57 percent of all children in the United States are living in homes that are either considered to be “low income” or impoverished.

#3 If the number of Americans that “wanted jobs” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to 11 percent.

#4 The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.

#5 One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.

#6 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.

#7 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

#8 According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006.  Today, that number has shrunk to 14.5 million.

#9 A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.

#10 According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.

#11 Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

#12 Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job.  In July, only 81.2 percent of men in that age group had a job.

#13 One recent survey found that one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.

#14 The Federal Reserve recently announced that the total net worth of U.S. households declined by 4.1 percent in the 3rd quarter of 2011 alone.

#15 According to a recent study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.

#16 As the economy has slowed down, so has the number of marriages.  According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married.  Back in 1960, 72 percentof all U.S. adults were married.

#17 The U.S. Postal Service has lost more than 5 billion dollars over the past year.

#18 In Stockton, California home prices have declined 64 percent from where they were at when the housing market peaked.

#19 Nevada has had the highest foreclosure rate in the nation for 59 monthsin a row.

#20 If you can believe it, the median price of a home in Detroit is now just $6000.

#21 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant.  That figure is 63 percent larger than it was just ten years ago.

#22 New home construction in the United States is on pace to set a brand new all-time record low in 2011.

#23 As I have written about previously, 19 percent of all American men between the ages of 25 and 34 are now living with their parents.

#24 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#25 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980.  Today they account for approximately 16.3%.

#26 One study found that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt.

#27 If you can believe it, one out of every seven Americans has at least 10 credit cards.

#28 The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

#29 It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.

#30 The retirement crisis in the United States just continues to get worse.  According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.

#31 Today, one out of every six elderly Americans lives below the federal poverty line.

#32 According to a study that was just released, CEO pay at America’s biggest companies rose by 36.5% in just one recent 12 month period.

#33 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.

#34 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.

#35 According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

#36 If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

#37 A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured before.

#38 Child homelessness in the United States is now 33 percent higher than it was back in 2007.

#39 Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.

#40 Sadly, child poverty is absolutely exploding all over America.  According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.

#41 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.

#42 In 1980, government transfer payments accounted for just 11.7% of all income.  Today, government transfer payments account for more than 18 percent of all income.

#43 A staggering 48.5% of all Americans live in a household that receives some form of government benefits.  Back in 1983, that number was below 30 percent.

#44 Right now, spending by the federal government accounts for about 24 percent of GDP.  Back in 2001, it accounted for just 18 percent.

#45 For fiscal year 2011, the U.S. federal government had a budget deficit ofnearly 1.3 trillion dollars.  That was the third year in a row that our budget deficit has topped one trillion dollars.

#46 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

#47 Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars.  When Barack Obama first took office the national debt was just 10.6 trillion dollars.

#48 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

#49 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.

#50 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

Of course the heart of our economic problems is the Federal Reserve.  The Federal Reserve is a perpetual debt machine, it has almost completely destroyed the value of the U.S. dollar and it has an absolutely nightmarish track record of incompetence.  If the Federal Reserve system had never been created, the U.S. economy would be in far better shape.  The federal government needs to shut down the Federal Reserve and start issuing currency that is not debt-based.  That would be a very significant step toward restoring prosperity to America.

During 2011 we made a lot of progress in educating the American people about our economic problems, but we still have a long way to go.

Hopefully next year more Americans than ever will wake up, because 2012 is going to represent a huge turning point for this country.’

 

 

 

Current Events Summarized In Brilliant Art  George Washington 12/16/2011 A picture is worth a thousand words  [ View archived file: http://www.albertpeia.com/currenteventsinart.htm  ]

 

 

The Tim Tebow Comeback Story Continues But There Will Be No Miracle Comebacks For The U.S. Economy | Never in the history of the NFL has there ever been anything like this. The Economic Collapse December 12, 2011 ‘Never in the history of the NFL has there ever been anything like this.  Today, Tim Tebow engineered yet another miraculous 4th quarter comeback.  Almost everyone has been expecting this unprecedented string of comebacks to come to an end, yet Tebow just keeps pulling off miracle after miracle.  It seems like nearly every week now we are talking about another unbelievable Tim Tebow comeback.  It is truly a great story, and what is wonderful about Tebow is that he is not out to glorify himself.  He is very humble, he always recognizes his teammates and he is a terrific role model for a generation of American youth that is in desperate need of one.  Unfortunately, there is not going to be a similar comeback story for the U.S. economy.  It is late in the 4th quarter, we have accumulated over 50 trillion dollars of total debt as a nation, and our economic guts are being ripped out at a rate that is almost impossible to believe.  The game is essentially over and we are headed for an incredible amount of economic pain as a nation.

We desperately need a “political Tim Tebow” to come along to dismantle our current debt-based economic system.  But instead, the corrupt politicians in Washington D.C. just keep patching up our current system and hope that somehow it will recover.

Unfortunately, this is about as good as things are going to get for the U.S. economy.  The federal government and the Federal Reserve are already pushing things to the “red line”, and all of that effort has not accomplished much.

We have been experiencing “economic stagnation” for much of the past year, and there is not much more that they can do to improve things under our current system.

Right now, the Federal Reserve has pushed interest rates as low as they can go.  They can’t go any lower.

Right now, the federal government is borrowing and spending unprecedented amounts of money.  Federal spending cannot go much higher.

Right now, we have already seen tax cut after tax cut and virtually none of them have been paid for.  Any additional tax cuts will just send our budget deficits even higher.

Right now, we have already seen unprecedented intervention by the Federal Reserve.  They have done just about everything short of dropping huge bags of money over the countryside from helicopters.

The federal government and the Federal Reserve have done just about everything that they can possibly do to “stimulate” the economy, and yet things just keep getting worse.

So what is going to happen when the federal government and the Federal Reserve quit stimulating the economy?

As I wrote about the other day, when evaluating the future of the U.S. economy, it is vitally important to look at the balance sheet numbers and the long-term trends.

When you do that, you suddenly do not feel so good about the upward “blips” that we have seen in the economy lately.

Yes, the “official” unemployment rate recently went down slightly.  But as Mac Slavo recently pointed out, even with the recent “improvement” the truth is that the “real” level of unemployment in the United States is still well over 20 percent.

And all of the long-term trends indicate that we heading for a massive amount of trouble.

The number of good jobs continues to decline.  Even though our population is rapidly increasing, there are 10 percent fewer middle income jobs in the U.S. today than there were a decade ago.

In recent years, the employment to population ratio has been steadily declining.  At the start of the recession it was at 62.7%.  Today, it is at 58.5%.

Household incomes continue to go down as well.  Since December 2007, median household income in the United States has declined by a total of 6.8%once you account for inflation.

So why is this happening?  Well, as I wrote about recently, the United States has the worst balance of trade in the entire world by far.

Wealth, jobs and economic infrastructure are pouring out of this country and very few politicians are trying to stop it.

An average of 23 manufacturing facilities were shut down every single day in the United States last year.

That represents a huge amount of lost jobs.

So do you hear any political candidates talking about how they are going to stop this from happening or about how they are going to get all of those lost jobs back?

Overall, the U.S. has lost a total of more than 56,000 manufacturing facilities since 2001.

So how can an economy be great when it is constantly bleeding huge amounts of economic infrastructure?

We have become way too dependent on other nations for the things that we need.

How much trouble would we be in if Saudi Arabia suddenly decided to quit shipping us oil or if China suddenly decided to quit shipping us cheap plastic products to sell in our stores?

Right now, businesses are absolutely racing to get out of the United States.  Big corporations are shipping as many jobs as they possibly can out of the country.  Our insane economic policies have turned American workers into tremendous liabilities.

One economist from Princeton University is warning that 40 million more U.S. jobs could be sent offshore over the next two decades if nothing is done to stop this.

So why aren’t more politicians screaming and yelling about this?

Without good jobs, Americans are falling out of the middle class in staggering numbers.

Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.

So is that a sign that things are getting better or that things are getting worse?

A higher percentage of Americans is living in extreme poverty than has ever been measured before.  Not only that, 2.6 million more Americans fell into poverty last year.  That was also a new all-time record.

So are those signs that things are getting better or that things are getting worse?

The American people generally do not understand why these things are happening, but they are clearly getting frustrated.

A recent Gallup poll found that an all-time record 76 percent of all Americans believe that most members of Congress do not deserve to be reelected.

But when election time rolls around, they will probably send most of them back to Washington D.C. anyway.

Our politicians keep kicking the can down the road, but time for doing that is running out.  The unprecedented “stimulus” efforts by the federal government will be coming to an end sooner or later.

In a recent article, author Bruce Krasting listed a whole bunch of reasons why the economic can is not going to be able to be kicked down the road much farther.  The following are some of the things that he says are scheduled to end by the beginning of 2013….

·        The Bush tax cuts on those making more than $200k will expire.

·        The Bush tax cuts on those making less than $200k will also expire.

·        The Patch on AMT will expire.

·        The 2% payroll tax holiday will expire for all workers on 12/31/12 (I’m sure the current holiday will be rolled for another year)

·        The 99-week extended unemployment benefits die on 12/31. (The emergency benefits will also be extended for 2012)

·        There will have to be a budget that is approved. Alternatively, a series of continuing resolutions is required to avert a government shutdown. We have not had an approved budget in over 900 days.

·        2013 is the first year that there will be mandatory caps on discretionary spending. These limits will result in a YoY decline in government spending.

·        The Federal Reserve has promised to keep interest rates at zero into 2013. While it is possible that the Fed could continue the madness for even longer, the reality is that interest rates have nowhere to go but up.

·        By January 2013 it will be painfully evident that the country’s key social programs, Social Security and Medicare will be running in the red at a pace that is far higher than anyone considered possible. The need for dramatic changes in these programs will have to come onto the table. The implications of this will be significant.

·        In 2013 the issues of Fannie, Freddie, FHA and the Federal Home Loan Banks must be addressed. The problems at the housing agencies has festered too long.

·        The country will face another debt ceiling extension. The last time cost us our AAA.

Sadly, we will probably not have to wait until 2013 to feel a whole lot of economic pain.

The reality is that a 15 trillion dollar debt and trillion dollar yearly budget deficits are not sustainable.  We have created a situation where a horrible crash is inevitable, and there is no way that our current debt-based system can be fixed to keep a nightmarish collapse from happening.

During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.  That is a recipe for national financial suicide.

Meanwhile, despite what you may have heard, the European debt crisis has not been fixed.

Not at all.

The truth is that none of the fundamental problems were fixed by this recent “agreement” as Ambrose Evans-Pritchard recently noted in one of his columns….

There is no shared debt issuance, no fiscal transfers, no move to an EU Treasury, no banking licence for the ESM rescue fund, and no change in the mandate of the European Central Bank.

In short, there is no breakthrough of any kind that will convince Asian investors that this monetary union has viable governance or even a future.

Germany has kept the focus exclusively on fiscal deficits even though everybody must understand by now that this crisis was not caused by fiscal deficits (except in the case of Greece). Spain and Ireland were in surplus, and Italy had a primary surplus.

For many more reasons why Europe is headed for big trouble, please read this article: “22 Reasons Why We Could See An Economic Collapse In Europe In 2012“.

When Europe goes down, it is going to have a devastating impact on the United States.

Meanwhile, the economies of China and Japan are also steamrolling toward recession.

There is simply way too much debt in the world, and a great day of reckoning is coming.

Combined, the industrialized nations of the world borrowed more than 10 trillion dollars this year, and that number is expected to soar even higher next year.

Jim Cramer of CNBC stated recently that the global economy is at “DEFCON 3, two stages from a financial collapse so huge it’s hard to get your mind around.”

Most Americans don’t understand this yet.  But hopefully we can get more of them educated while there is still time.

The global financial system is a big shell game.  It is a gigantic mountain of debt, leverage and risk.

You would have thought that we would have learned some key lessons from the financial crisis of 2008, but we didn’t.

Back in 2002, the top 10 U.S. banks controlled 55 percent of all U.S. banking assets.  Right now, the top 10 U.S. banks control 77 percent of all U.S. banking assets.

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 instead of doing something about the “too big to fail” banks, they are now more “too big to fail” than ever.

As big banks and big corporations have come to dominate our economy more than ever before, wealth and power have also become much more concentrated….

*The wealthiest 1 percent of all Americans now own more than a third of all the wealth in the United States.

*The poorest 50 percent of all Americans collectively own just 2.5% of all the wealth in the United States.

*The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.

*Overall, the wealthiest one percent of all Americans have a greater net worththan the bottom 90 percent combined.

It would be wonderful if we could send a “Tim Tebow of politics” to Washington D.C., but instead the Democrats and the Republicans look like they just plan to give us more of the same.

Are the Republicans really going to nominate someone who co-sponsored 418 bills with Nancy Pelosi?  The truth is that the latest “anti-Romney candidate” isalmost a clone of Mitt Romney.

Newt Gingrich is essentially an older, ruder version of Barack Obama.  If you are counting on him to “save America” then you are going to be incredibly disappointed.

Sadly, we just do not have nearly enough men like Tim Tebow in America today.  The following comes from a recent profile of Tebow that recently appeared in the Wall Street Journal….

While at Florida, Mr. Tebow became well known for spending his summers helping the poor and needy in the Philippines. He also spoke in prisons and appeared to accept every opportunity to volunteer. He encouraged his teammates and classmates to follow his lead.

You can see video of Tim Tebow speaking to a group of prisoners at the Lake City Correctional Facility while he was still attending the University of Floridaright here.

Unfortunately, there is no “Tim Tebow comeback” on the horizon for the U.S. economy at this point.

But when the U.S. economy does get worse, we can take a cue from Tim Tebow and be very generous with those in need.  There are going to be a lot of people that will be really hurting, and those of us that have been blessed should do what we can to help them out.

A lot of people say that my site is all about “doom and gloom”, but telling the truth to the American people is never a bad thing.

We do not do ourselves any favors by sticking our heads in the sand and pretending that everything is going to be okay.

There is going to be no miracle comeback for the U.S. economy.

A horrific economic collapse is coming.

You better get ready.’

 

 

 

THE ROAD NOT TAKEN: GLOBAL ECONOMY ON THE BRINK http://www.safehaven.com/article/23606/the-road-not-taken  12/10/2011 By David Knox Barker: ‘The international political economy and global financial markets are deep in the woods. A long wave winter season is blowing cold, and getting colder. Decades of excess leverage in the banking system and sovereign states is coming to an end. Government and consumer spending are hitting a wall. A critical fork on this wintry road is coming up fast.

A transformational long wave crisis that spans the globe is under way. Tough decisions must be made to pull us out of the long wave winter crisis and into a new spring day on the other side. There are two different roads beckoning us out of this long wave wintry mess. Make no mistake; the choice leads to distinctly different destinations.

http://static.safehaven.com/authors/barker/23606_a.jpg

Oscar Wilde, in his essay The Decay of Lying, famously penned the words, "Life imitates art far more than art imitates life." Along this line of thinking, Robert Frost's famous poem, with only one word edited (wintry), is in order. It offers new meaning as the world grapples with the global financial, economic and political crisis. It speaks to the far-reaching implications of the important decisions required now for the uncertain road that lies ahead.

The Road Not Taken
by Robert Frost

Two roads diverged in a (wintry) wood,
And sorry I could not travel both
And be one traveler, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;

Then took the other, as just as fair,
And having perhaps the better claim
Because it was grassy and wanted wear,
Though as for that the passing there
Had worn them really about the same,

And both that morning equally lay
In leaves no step had trodden black.
Oh, I marked the first for another day!
Yet knowing how way leads on to way
I doubted if I should ever come back.

I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I,
I took the one less traveled by,
And that has made all the difference.

Investors and traders should recognize that global markets will discount the unknown future on the road ahead far more than most are expecting as this long wave winter bottoms in the years directly ahead, whatever road we take. Markets do not like the unknown and buyers of the future will require a hefty discount to the cash flows it offers, especially when perceived risks are rising fast and show no sign of abating.

After this final phase of the long wave winter that puts the future on sale, we can get on with building a global economy that is better than what we are leaving behind. The real question is what road we will take. One road leads to the serfdom and dependence on government promises, the other to individual freedom and unlimited potential. The road chosen will make a big difference in the world we live in during the coming long wave spring season and global boom that lies ahead.

The low road offers more of the same Keynesian hopes that created this crisis. It shows more wear. It offers greater intervention from government in hopes that the state, even in light of recent evidence to the contrary, has the answers. The low road grants greater powers to government and vastly higher levels of debt, fighting debt with debt. Along this road greater national and individual sovereignty and liberty is a required sacrifice offered to the deity of the state and its various temples of centralized control.

The high road offers the hope that the grand experiment of big government is actually ending world over. The dissemination of information on the Internet suggests the old media is losing its grip on public consciousness and its role of kingmaker. Centralized political power is doomed. Rather than centralizing power, there are signs the information age and technology is in the process of a quantum leap, transforming political power in the process and returning it to its rightful owner, the individual and their important role in society and community. The latent potential that can be unleashed on the high road is astounding, and it is the same world over.

Advocates of the high road recognize that radical pro-growth and pro-job corporate tax policies are urgently required. A low flat corporate tax rate of 15% or less in the U.S. will force the world to follow and trigger a global growth boom and new long wave spring. The fair-tax makes even more sense, but that is likely asking too much of politicians that appear to have trouble understanding that they were not elected to only enrich themselves. Have courage, this ilk is on the way out. Most politicians believe tax reform is granting tax breaks in the tax code for kickbacks in one form of another.

If government spending cuts are combined with pro-growth corporate tax policies, the next wave of Internet driven innovation will trigger a global boom in a new long wave spring season beyond 2012. Political leaders can pursue policies that accelerate these trends, or they can try to hold on to their rapidly failing grip on power.

Few are aware that the object-oriented paradigm and the object-oriented code it spawned has played an essential role in the Internet revolution. The objectivation of the planet is turning the Internet into an empowering force for individual freedom and liberty. The Internet is decentralizing access to information and is radically changing the world, including putting political power into a state of flux.

The low road is simply more of the same that got us here and delivered the global system to the edge of the abyss. There are those that are loudly advocating this well-worn Keynesian road funded by government debt, i.e., the same map that got us here. Many advocating the low road are hoping for yearend bonus checks for all the bad debt they would like governments to back stop and transfer onto the backs of taxpayers. This low road is where society's resources are distributed both up to an elite class that socialize their losses and down to an entitlement class. The motto of the low road is clear, in the words of Ayn Rand, "From each according to his ability, to each according to his need."

The high road is seldom traveled these days. It is a road of individual responsibility and accountability for one's own decisions and actions, where thrift and prudence gain their just reward and are not punished by the greed of others that are too big to fail. This high road is where budgets are balanced and governments do not spend money they do not have and therefore must borrow, or steal from its rightful owners.

The two roads out of the global financial crisis are coming up as the world descends in the current business cycle. The call for the European Central Bank (ECB) to join with the U.S. Federal Reserve and promise unlimited quantitative easing (QE) has reached a fevered pitch. The ECB has been buying sovereign bonds on the margin, but the idea of the ECB ratcheting up the buying of any bonds issued by the profligate politicians is a low road choice by any standard. It is repulsive to those accustomed to living within their means and not interested in financing those that who do not.

The current global system is now struggling under its glaring contradictions. The long wave cycle points down and to a resetting of the global economic and financial order. The world has come to an important fork in the road in the current business cycle, the final business cycle of the long wave winter

The entitlement class is demanding the politicians serve up the wealthiest producers on a 1% prime mover platter, so they can, in their own words, "eat the rich". It will of course be their last meal, but this crowd does not think that far ahead. They have not considered that the next meal will be the wild-eyed comrade across the table, or it will be them and their family.

In short, the low road thinking suggests that it is possible to solve history's greatest debt crisis with more debt and deficit spending, keeping the entitlement class satisfied and growing. This may work marginally in this long wave cycle crisis and a somber spring will begin belatedly, but this low road will weaken international capitalism and likely trigger the collapse of capitalism in the next long wave winter season, delivering the global economy onto the cusp of a new dark age.

On the high road, governments will actually be required to stop spending money they do not have and balance their budgets. Investors that unfortunately make bad investments will have to take losses and not socialize them and pass them on to taxpayers. This appears to be a rather novel concept for many. The media and politicians jeer at it as old-fashioned nonsense. Those with the mistaken belief that the profits of capitalism will be able to pay the tab for the great entitlement banquet, are rejecting as "austerity" what is only common sense and the way our grandparents lived.

Advocates for the low road gained the upper hand in the 2008-2009 phase of the financial crisis. Many are now rightfully questioning this direction. Although we are now moving toward the low road, there remains time to change, to take the high road.

All eyes are now on Europe. There is hope that Europe could switch to the high road, and force the U.S. and Asia to follow. This week we learned that the new ECB president Mario Draghi is suggesting that the ECB does not intend to backstop governments that cannot balance their budgets, or failing banks that fund them. German Chancellor Angela Merkel is suggesting government must bring their budgets under control before they receive any help from the ECB. In short, Europe is considering taking the high road. If they do, they could force the U.S. and even the world to follow. Merkel and Draghi are pointing us toward the high road. Those clamoring for more QE to off load their bad debts on you, your children and your grandchildren, so they can get their Christmas bonuses, typically work the tollgates on the low road.

The statement out of the European Union meeting this week suggests there remain leaders that are advocating the high road; let us pray they can provide the leadership to make it happen. They are asking governments to cut spending and move toward balanced budgets before the ECB steps in and buys larger amounts of sovereign debt. Draghi appears to be the sort that will wait for tangible evidence and real cuts before backstopping anyone. Chairman Bernanke should take notes and shake off his fear of deflation.

Great pressure is being applied to the ECB to jettison their single mandate of price stability in Europe and join the U.S. Federal Reserve by becoming the buyer of last resort. This is clearly a low road option. If the ECB caves to this pressure, odds rise sharply that the low road is our destiny. If the infrastructure obsessed Bank of China (BOC) keeps the monetary pedal to the metal it will also indicate the low road may be the one the world travels, but they may just take their cue from the ECB. There is evidence that even some of the leaders of communist-capitalism can recognize the advantages of the high road.

On the low road, concerted global QE will cause the global crisis and long wave winter to drag on longer than it will on the high road. With global QE that buys bad debt, the business cycle lows in 2016 will be inflation-adjusted long wave lows as debt is monetized and inflation steals from real returns. Capital will be slow to commit to the new global long wave spring season and it will get off to a much slower start than possible on the high road. Government picks winners and losers on the low road. That plan has not worked out so far, e.g. Solyndra, etc.

The map for the high road is real deficit reduction in the U.S. and in Europe, not just smaller increases, and aggressive pro-growth corporate tax reform; not endless talk, but action. On the high road, the decline of the business cycle will sharper and swifter than most expect. Required writedowns of bad debt investments, necessary government spending cuts and debt deleveraging will not come without pain. On the high road the decline of the business cycle will most likely be a sharp V shaped deflationary recession/depression into late 2012, and possibly mid-2013.

The chart below demonstrates this possible scenario using Market Cycle Dynamics software running with Metastock. The global economy and international markets are a complex system. The low road will not stop the cycles; it will only lengthen the cycles and lead the world inexorably toward chaos and a greater collapse. The high road will restore order and a global boom. A new long wave spring season of global prosperity is what the high road offers.

http://static.safehaven.com/authors/barker/23606_b.png

On the high road, the global economy will make the turn and come roaring out of the V shaped deflation and debt liquidation and into a new long wave spring within 18 months. Hard work, risk taking and ability are what will pick the winners along the high road. The road we choose to travel will determine how and when this business cycle and long wave winter season ends. The road we take will make all the difference.’

 

 

 

 

The Worldwide Depression/Recession Of 2012   Jeff Harding Dec 09, 2011 ‘While we're seeing some positive numbers in the US, we're also seeing signs of weakness. And since we live in a world of international trade, the world's woes will hit us. (Read more: http://www.minyanville.com/businessmarkets/articles/eurozone-euro-eurozone-crisis-sovereign-debt/12/9/2011/id/38294#ixzz1g7Hfhu3K) ‘In case you haven’t noticed, the rest of the world continues to slow down and the negative data is accelerating. The big powerhouses of the world, the eurozone (including Germany), Japan, and China are leading this trend and there is no reason to believe that the U.S. will not follow.

I’ve been writing about this theme frequently lately because, while we are seeing some positive numbers here in the U.S., we are also seeing signs of weakness starting to show up, and since we live in a world of international trade, the world’s woes will hit us.

The first thing to note about this phenomenon is that the central banks of the world, including the Fed, have been doing all they can to support their economies with plentiful money. According to a recent Bloomberg article, “Central banks across five continents are undertaking the broadest reduction in borrowing costs since 2009 to avert a global economic slump stemming from Europe’s sovereign-debt turmoil.”

Monetary easing will push the average worldwide central bank interest rate, weighted for gross domestic product, to 1.79% by next June from 2.16% in September, the largest drop in two years, according to data and projections from JPMorgan, which tracks 31 central banks. The number of those banks loosening credit is the most since the third quarter of 2009, when 15 institutions cut rates, the data show.

The People’s Bank of China has raised its main interest rate three times this year to fight inflation. India’s central bank lifted rates on Oct. 25 by a quarter of a percentage point, while signaling it was nearing the end of its record cycle of increases as the economy cooled.

This is nothing new. Since the Crash of 2008, most central banks have been pumping fiat money into their economies.

The multiple EU sovereign insolvencies—you don’t need to default to be insolvent—are hitting eurozone credit hard, which is a trigger for deflation as money supply declines. Lenders are stuck with bad sovereign loans and there isn’t enough money to bail them all out, much less the PIIGS.

The thing to remember about the eurozone is that it’s not just sovereign insolvencies that is their problem. They became insolvent, yes because governments spent too much, but their economies are in the tank mainly for many of the same reasons the U.S. economy declined (money inflation boom, high debt/spending, housing market collapse triggering depression, high taxes and regulation, and various bailouts to prevent recovery). Until they fix the underlying causes, their banks will collapse and countries will default.

China’s economy relies on the West for its exports, and as a result:

  • Manufacturing production falls at fastest rate in three months; the lowest service sector growth since August;
  • Overall input costs fall for the first month since July 2010;
  • Service sector business optimism second-lowest in series history.

China’s frequent monetary stimulus, along with government real estate policies, keeps feeding their real estate boom-bust cycles.

Once you look at the data (below), you will see where we and the world are headed. 

While these economies are shrinking, demand for commodities, capital goods, and manufactured goods all decline. This is impacting commodity prices; they have been falling since this summer (mainly a supply-demand factor, not just a money deflation issue). Each country/zone will have a different reaction to all this. Most will continue to inflate (“print” money).

Money printing will have little impact on declining prices for the time being. Unless they panic. If they panic -- that is, massively pump money -- they will suffer from price inflation. China will have more booms and the eurozone will also stagnate as well. Japan will continue to go "Japanese," and depending on what the Fed does, it is likely we’ll go Japanese as well.

Here is what it looks like:
 
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%201%20Markit-JPM-Global-Main-PMI-Regional%20Nov%202011.png
Click to enlarge


http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%202%20KMPG_Market-Wordwide-Regional%20PMI%20Nov%202011.png
Click to enlarge


http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%203%20Markit-HSBC-China-PMI-Germany%20Composite%20Nov%202011.png
Click to enlarge


http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%204%20Markit-Eurozone-PMI-GDP-Input%20prices%20Nov%202011.png
Click to enlarge

N.B. The word “depression” frightens a lot of people. It should. But, we are in one now. Our leaders just invented the word “recession” to take our minds off what’s really happening. Murray Rothbard in his book, America’s Great Depression noted that when the economy crashed again in 1937, Franklin D. Roosevelt and his advisers didn’t want to use the “D” word so they came up with “recession.” Until that time there were no “recessions.” Now a “recession” is just a mini-depression. Since we, in my opinion, have not yet recovered from the Crash of 2008, we are in a depression. Just ask the 25 million Americans who either don’t have a job, can’t find one, stopped looking, or are working part-time because they can’t find full-time work. Just ask the 24% of home owners whose homes are financially underwater.


Read more: http://www.minyanville.com/businessmarkets/articles/eurozone-euro-eurozone-crisis-sovereign-debt/12/9/2011/id/38294#ixzz1g7IPeEEi

 

 

 

MF GLOBAL EXPLAINED http://www.youtube.com/watch?v=jLt05sN7vK0&feature=player_embedded  [This brief video explains causal links (some even adding that they’re all jewish)  between OTC derivatives, the financial crisis of 2008, Alan Greenspan, Robert Rubin, Larry Summers, Jon Corzine and MF Global. [ It’s time for all people to know and understand how they, america and the rest of the world, have been done-in by fraudulent wall street greed / crime, u.s. government corruption, and media/u.s.government complicity by silence, coverup, and overt criminal acts to protect the perpetrators (the following 10 minute video is purposely simplistic enough for even the previously most gullible dupes to understand, including the insurmountable magnitude of the problem/fraud/crime requiring action and prosecutions. Yes, it is true ‘what a tangled web they’ve weaved, when in greed they’ve deceived, and fraudulently keep the money they’ve received, as all the respective nations of the world continue to bleed’!) ]; and, here’s: ‘Quantitative Easing Explained’  http://www.youtube.com/watch?v=PTUY16CkS-k  (6 minutes-well worth it). 

Articles from  http://www.heraresearch.com/  :                                                                                                                                                                                                                                                                                                                                 

·         How the U.S. Will Become a 3rd World Country (Part 1)

·         Globalization and Global Chaos

·         Into the Abyss: The Cycle of Debt Deflation

·         OTC Derivatives: Failed Banks or Failed Nations?

·         Bernanke's Dilemma: Hyperinflation and the U.S. Dollar

·         Madmen, Gamblers, Alcoholics, the U.S. Dollar and Gold

http://www.heraresearch.com/

 

Senate Passes Bill Allowing Indefinite Detention of Americans ... Considers Bill Authorizing More Torture  George Washington : 11/29/2011 - 20:53 USA, USA, USA ... Number One in ... cough ... Fascism ... cough

 

SPX Update: Sell the Bounce   Jason Haver Nov 29, 2011 ‘This bounce might not last long, and new lows are expected to follow.

 

 

 

Nouriel Roubini: Government Gridlock ‘Ensures’ 2012 Recession Daily Ticker - Nov 23, 2011 {Tell me something that’s not already begun and that I don’t know! Tell us something we don’t know! Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events .. “the new recession has started.”… Over the past 33 years, we have called the start of every recession..Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation..is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’, David Rosenberg: “It’s Time To Start Calling This For What It Is: A Modern Day Depression” Zero Hedge ,  David Rosenberg On The Depression, The ECB, MF Global As A Canary In The Coalmine... All With A Surprise Ending,  This is No Cyclical Recession… It is a Secular DE-pression   }


 

 

 

$707,568,901,000,000: How (And Why) Banks Increased Total Outstanding Derivatives By A Record $107 Trillion In 6 Months

 

 

DATA SUMMARY SHOWS THE US ECONOMY IS IN JEOPARDY  [ Duh! Ya think? ]  Jeff Harding Nov 23, 2011 http://www.minyanville.com/buzz/buzzalert/data-summary-shows-the-us/11/23/2011/id/146675?camp=syndication&medium=portals&from=yahoo ‘An overview of all the factors at play leads to one inevitable conclusion.


The Crossroad
The economy is at one of those crossroads where something is going to happen. Whether that will be a positive or a negative is often difficult to tell because at any time one of those “black swans” could land in our midst and change everything. Plans are fluid and and forecasting can be quixotic. That said, I believe we are at a critical point, and the US economy is heading for a fall.

To understand what “tomorrow” might be, we need to look at today and try to tie those threads together. Here is my analysis step by step, and you can decide if you agree with my conclusions.

Today
I have been looking at a lot of data reports in terms of an overall view of the economy. I apologize for all of the charts and data, but they offer some insight into trends.

Price Indices
Both the Producer Price Index and the Consumer Price Index have shown modest price increases, but may be trending negative. 

Producer Price Index: 

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards1.png
 
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards2.png

On a 12-month basis, finished goods have gone up 5.9%, intermediate goods up 8.3%, and crude goods up 12.6%. However, the recent trend is down, as the above chart shows.

Consumer Price Index:

Consumer prices declined 0.1%, and core (less energy and food) went up 0.1%. On a year-over-year basis, prices have increased 3.5%, but that is down from 3.9% the prior month, mainly due to energy costs.

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards3.png


Industrial Production

Industrial production as measured by shipments showed a 0.7% gain in October, and the 12-month index was up 3.9%.

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards4.png  

Manufacturing

The important factory sector output was up 0.5% in October and up 4.1% for the 12 months. The only negative here, and it is a significant one, is that new orders are flat, but may not be declining:

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards5.png

The more telling ISM Manufacturing Index shows some weakness:

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards6.png


The capital goods sector has been showing strong growth:

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards7.png

Business Sales

Business sales and inventories are also steady:

Businesses are carefully managing their inventories, keeping them lean as sales move incrementally forward. Business inventories are unchanged in the September report with sales up 0.6 percent [11.06% YoY], a combination that keeps the inventory-to-sales ratio at 1.27. This ratio has been pretty steady for the last two years after spiking as high as 1.49 during the recession when sales of course plunged.


But note that these numbers are nominal, not adjusted for inflation. 

Retail Sales

Retail sales and food services were up 0.5% for October, and 7.2% year over year. Again, these numbers are not adjusted for inflation. They are steady but have been flat (±) since August 2010.

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards8.png


Wages and Earnings

Real wages continue to be weak. While real wages increased 0.3% in October, that was after a CPI adjustment ((earnings +0.2)+(CPI -0.1%)). On a year-over-year basis, real earnings are down 1.6%. “An unchanged average workweek combined with the decline in real average hourly earnings resulted in a 1.7 percent decrease in real average weekly earnings during the same period,” according to the Bureau of Labor Statistics.

Bank Credit

Bank credit conditions are still sluggish.

Consumer credit

Consumer credit increased at an annual rate of 1.5% in the third quarter. Revolving credit decreased at an annual rate of 3.25%, while nonrevolving credit increased 3.75%. In September consumer credit increased at an annual rate of 3.5%. Revolving credit is credit card debt; nonrevolving debt is mostly auto loans and student loans. Generally, consumer credit has been rather flat except for auto loans, which have been up and down, but mostly up:
 
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards9.png


Business credit

What has changed is that commercial and industrial loans have grown, especially at small domestic banks. Look at the Fed’s H.8 commercial bank commercial and industrial (C&I) loans in 2011 (note: I modified this chart to fit):


http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards10.png


(Note that “Other consumer loans” are mostly auto loans. This consumer credit data is slightly different than the Fed’s G.19 data on consumer credit, above.)

What we see is that C&I loans took off starting in the first quarter of 2011. While the data for large domestic banks shows steady C&I loan growth since the fourth quarter of 2009, small domestic bank C&I lending shot up in the first quarter of 2011, from zero base to $20 billion:

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards11.png


Even more surprising is that average loan size for small banks increased from about $100,000 to almost $650,000. One might conclude from this that the credit freeze is over and small banks are lending and small to medium business enterprises (SMEs) are borrowing, thus indicating a recovery.

What is happening?

The main reason for this sudden increase in loan activity is competition. Ever since Dodd-Frank, banks have been scrambling to figure out how to make more money, as many credit card and other account fees were prohibited in an attempt to protect consumers. One way to offset that loss is to gain more business customers, and there has been a scramble by both large and small banks for SME customers.

Small banks have the most to gain or lose in this competition because SMEs are their territory. So they are pursuing customers. Many also believe that there is a window of opportunity with favorable spreads and thus the timing is critical to expand business before that window closes. The initial beneficiaries seem to be the banks in the $5 billion to $10 billion asset range, which are classified as small banks. Keefe, Bruyette & Woods, an investment bank specializing in services to the banking sector said:


[Damon DelMonte, an analyst with KBW Inc.'s Keefe, Bruyette & Woods Inc.] said banks reporting loan growth are taking a bigger slice of the pie, but the pie isn’t getting much bigger. “We’re not of the belief that the demand for new loans is really ramping up,” he said. “It seems like it’s more of a shifting of market share. Smaller banks are going to benefit at the expense of larger banks.“


This was also confirmed by the Fed’s October 2011 Senior Loan Officer Opinion Survey on Bank Lending Practices, where they reported increased competition, but that loan demand was weak:

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards12.png


I will explain the significance of this data further on.

International Trade

On the international scene, imports were actually down slightly, which was seen as a positive by most analysts (I see it as a negative):

The US trade deficit unexpectedly improved in September, but a significant part of it appears to have been related to flight to safety to gold during September’s weak financial markets. The September trade gap shrank to $43.1 billion from $44.9 billion in August. The latest shortfall was narrower than analysts’ expectations for a $46.3 billion deficit. Exports gained 1.4 percent after edging up 0.1 percent in August. Imports rose 0.3 percent in September, following a 0.2 percent decline the prior month.


Exports have been a substantial driver of the economy ($2.117 trillion):

http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards13.png


International Capital Flows

 The Treasury International Capital Report shows us that money continues to flow into the US seeking refuge mainly in Treasuries:

Volatility in international financial markets made for a second straight month of increasing inflow into long-term US securities, at $68.6 billion in September following August’s revised $58.0 billion. These follow inflows of only $9.1 billion and $4.1 billion in the two prior months. US investors, repatriating their funds, were small net sellers of foreign securities in September. But increasing demand for US securities is narrowly based into Treasuries in contrast to outflows for corporate bonds and especially US equities which is no surprise given the general move into safety and away from risk. Net outflows from equities were a very steep $19.2 billion in September following August’s $6.5 billion outflow.


Summary

Here is a summary of the above data:

#1. Industrial production (manufacturing and services) is continuing a flat to declining trend that has been going on since the second quarter of 2010. Manufacturing has shown recent growth, but it mirrors the negative to flat trend. Capital goods orders have improved, reflecting technological upgrades (which is also mirrored in software sales).

#2. Prices are starting to decline both at the producer and consumer level. Oil prices are likely to decline as worldwide economic activity slows. But, as we know, political shocks from producers can alter this forecast dramatically.

#3. Retail sales, adjusted for price inflation, continue to be flat to declining.

#4. Credit conditions are still tight at the consumer level, and business credit still suffers from lack of demand.

#5. Exports have been a primary driver of the economy and have rebounded substantially post-crash as a result of a devalued dollar.

#6. European economic problems have caused a significant influx of money into the US, and that has been parked in Treasuries.


Here is a summary of other data I feel is important and that I have recently discussed:

#1. Unemployment is high. At 9% there are 13.9 million unemployed, while the broader measure of unemployed (U-6) is 25 million. While unemployment has been dropping at a snail’s pace, jobs are not being created at a sufficient rate to substantially reduce unemployment. New jobless claims have been hovering around the 400,000 per week for the entire year.

#2. Real disposable income is falling.

#3. Personal savings have fallen from a post-crash high of 5.8% in June 2010 to 3.6% as of September 2011 because consumers are using savings to fund consumption.

#4. GDP is static rather than growing, and the latest third-quarter boost will likely not continue. It is likely that the third-quarter report will be revised downward.

#5. Auto sales are related to pent-up demand and are not likely to be sustained.

#6. The top 5% of earners account for 37% of all consumer spending, and it is they who are supporting consumer spending. I call this a “bifurcated economy.” There is no broad-based consumer spending rally.

#7. Household debt ($13.9 trillion) is still historically very high and has not been substantially reduced.

#8. U.S. sovereign debt is 100% of GDP ($15 trillion and growing).

#9. All government spending (federal, state, and local) constitutes 45.6% of GDP.

#10. The euro crisis will have a substantial impact on the rest of the world, including the US. That is difficult to predict, but we’ll know very soon. According to recent data, the world is heading into recession in almost all economies.

#11. The federal government is currently running a $1.3 trillion annual deficit

#12. Unfunded liabilities for Social Security, Medicare, and prescription drug (Part D) are $116.4 trillion and growing. This does not include the pending problem with student loans (Sallie Mae) or obligations to government-sponsored enterprises.

#13. The MF Global (MFGLQ.PK) problem is indicative of a declining economy. It is likely that in a growing economy, MF Global would have been able to ride out its crisis. In a declining economy, company weaknesses tend to be revealed, as with Lehman. That creates market uncertainty.

#14. Oil prices have risen from $40 a barrel post-crash to $110 a barrel in April 2011, and presently are at $97 a barrel. Such oil price increases are associated with and often presage recessions.

#15. Bank balance sheets are still weak because they do not book asset values at market, they seem to not properly book troubled loans, and they are encumbered by a substantial amount of malinvested assets that have not been liquidated.

#16. 47 million Americans (15%) are on food stamps; 48.5% of the population lived in a household that received some type of government aid in the first quarter of 2010.

#17. Americans are pessimistic about their future and the future of America, according to almost all recent polls.

#18. An angry and disaffected population in America is potentially politically dangerous. 


What is important when looking at the data is to spot trends rather than specific numbers. I have what I believe is a healthy skepticism about the reports from the multitude of federal agencies that I follow on a regular basis. They are often revised and probably understate the negatives. That is especially so with price inflation. Many of the reports are in nominal numbers rather than adjusted for official price inflation. If they are adjusted for inflation (chained), their baseline is a recent year. Many analysts put great emphasis on specific numbers, but quantifiable data is ephemeral and probably “gamed.” Look at the trend.

Reminder: This is part one of a two-part series. The second half will be published on Minyanville on Friday, November 25.’

 

 

Problem With Germany And China: Who Bails Out The Bailers?   Forbes / Addison Wiggin  [ Another downgrade of U.S. sovereign debt is a “certainty,” he adds. “It’s only a matter of when.” ] 

 

25 Bitter And Painful Facts About The Coming Baby Boomer Retirement Crisis That Will Blow Your Mind The Economic Collapse | For decades we were warned that when the Baby Boomers started to retire that this country would be facing a retirement crisis of unprecedented magnitude. The Economic Collapse November 23, 2011

‘For decades we were warned that when the Baby Boomers started to retire that this country would be facing a retirement crisis of unprecedented magnitude.  Well, that day has arrived ladies and gentlemen.  Back on January 1st, the Baby Boomers began to retire and more than 10,000 of them will be retiring every single day for years to come.  Most of them have not saved up nearly enough money for retirement.  At the same time, private sector pension plans are failing all over the place, hundreds of state and local government pension plans from coast to coast are woefully underfunded, and the Social Security system is on the road to complete and total disaster.  A massive wave of humanity is hitting retirement age at a moment in history when the U.S. economy is coming apart at the seams.  We do not have the resources to keep the promises that we made to the Baby Boomers, and most of them have not made adequate preparations for retirement.  What we have is a gigantic mess on our hands, and millions of Baby Boomers are going to find retirement to be very bitter and very painful.

A lot of younger Americans just assume that Social Security is enough to take care of the needs of elderly Americans.  But that is just not the case.

Have you ever tried to live solely on a Social Security check?

It is not easy.  The truth is that those checks are just not that large.

The following comes directly from the Social Security Administration….

The average monthly Social Security benefit for a retired worker was about $1,177 at the beginning of 2011.

Could you live on less than 300 dollars a week?

And keep in mind that the $1,177 monthly figure is just an average.  Many receive a lot less than that.

In addition, Social Security benefits have been seriously squeezed by inflation in recent years.  The cost of food and other basics has risen briskly and Social Security benefits have not.

Today, many elderly Americans have to make a choice between buying food, heating their homes or buying medicine that they need.  They simply do not have enough money to do all of them.

It would have been nice if all of the Baby Boomers had been busy saving money for retirement all these years, but that just did not happen.  In fact, the Baby Boomers as a group are trillions of dollars short of what they need for retirement.

So why doesn’t the U.S. government step in to help them out?

Well, the reality of the situation is that the U.S. government is flat broke.  The federal government is now over 15 trillion dollars in debt.  During the Obama administration so far, the U.S. government has accumulated more new debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

Lawmakers are already looking at ways to make the Social Security program less costly.  No, the federal government is not going to be riding to the rescue.

In fact, it will be a minor miracle if the Social Security program is able to survive until the end of this decade, and it will be a major miracle if the Social Security program is able to survive until 2030.

As for myself, I do not believe that I will ever see a single penny from Social Security, and many other working age Americans feel the same way.

Retirement is supposed to be a fun time, but sadly most Americans that are approaching retirement age are not going to have any “golden years” to look forward to.

Rather, millions of elderly Americans are going to find the years ahead absolutely agonizing as they struggle just to survive.

The following are 25 bitter and painful facts about the coming Baby Boomer retirement crisis that will blow your mind….

#1 According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.

#2 According to a recent poll conducted by Americans for Secure Retirement,88 percent of all Americans are worried about “maintaining a comfortable standard of living in retirement”.  Last year, that figure was at 73 percent.

#3 A study conducted by Boston College’s Center for Retirement Research has found that American workers are $6.6 trillion short of what they need to retire comfortably.

#4 Today, one out of every six elderly Americans lives below the federal poverty line.

#5 On January 1st, 2011 the very first Baby Boomers started to retire.  For almost the next 20 years, more than 10,000 Baby Boomers will be retiring every single day.

#6 At the moment, only about 13 percent of all Americans are 65 years of age or older.  By 2030, that number will soar to 18 percent.

#7 Right now, there are somewhere around 40 million senior citizens.  By 2050 that number is projected to increase to 89 million.

#8 Back in 1991, half of all American workers planned to retire before they reached the age of 65.  Today, that number has declined to 23 percent.

#9 According to one recent survey, 74 percent of American workers expect to continue working once they are “retired”.

#10 According to a recent AARP survey of Baby Boomers, 40 percent of themplan to work “until they drop”.

#11 A poll conducted by CESI Debt Solutions found that 56 percent of American retirees still had outstanding debts when they retired.

#12 A study by a law professor at the University of Michigan found that Americans that are 55 years of age or older now account for 20 percent of all bankruptcies in the United States.  Back in 2001, they only accounted for 12 percent of all bankruptcies.

#13 Between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.

#14 What is causing most of these bankruptcies among the elderly?  The number one cause is medical bills.  According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States.  Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance.

#15 Public retirement funds all over the United States are woefully underfunded.  For example, it has been reported that the $33.7 billion Illinois Teachers Retirement System is 61% underfunded and is on the verge of complete collapse.

#16 Most U.S. states have huge pension obligations which threaten to bankrupt them.  For example, pension consultant Girard Miller told California’s Little Hoover Commission that state and local government bodies in the state of California have $325 billion in combined unfunded pension liabilities.  When you break that down, it comes to $22,000 for every single working adult in the state of California.

#17 Robert Novy-Marx of the University of Chicago and Joshua D. Rauh of Northwestern’s Kellogg School of Management have calculated the combined pension liability for all 50 U.S. states.  What they found was that the 50 states are collectively facing $5.17 trillion in pension obligations, but they only have $1.94 trillion set aside in state pension funds.  That is a difference of 3.2 trillion dollars.  So where in the world is all of that extra money going to come from?

#18 According to the Congressional Budget Office, the Social Security systempaid out more in benefits than it received in payroll taxes in 2010.  That was not supposed to happen until at least 2016.  Sadly, in the years ahead these “Social Security deficits” are scheduled to become absolutely nightmarish as hordes of Baby Boomers retire.

#19 In 1950, each retiree’s Social Security benefit was paid for by 16U.S. workers.  According to new data from the U.S. Bureau of Labor Statistics, there are now only 1.75 full-time private sector workers for each person that is receiving Social Security benefits in the United States.

#20 The U.S. government now says that the Medicare trust fund will run outfive years faster than they were projecting just last year.

#21 The total cost of just three federal government programs – the Department of Defense, Social Security and Medicare – exceeded the total amount of taxes brought in during fiscal 2010 by 10 billion dollars.  In the years ahead expenses related to Social Security and Medicare are projected to skyrocket dramatically.

#22 The Pension Benefit Guaranty Corporation is the agency of the federal government that pays monthly retirement benefits to hundreds of thousands of retirees that were covered under defined benefit pension plans that failed.  The retirement crisis has barely even begun and the PBGC is already dead broke.  The PBGC says that it ran a deficit of $26 billion during the fiscal year that just ended and that it will probably need a huge bailout from the federal government.

#23 According to a survey by careerbuilder.com, 36 percent of all Americans say that they don’t contribute anything at all to retirement savings.

#24 More than 30 percent of all investors in the United States that are currently in their sixties have more than 80 percent of their 401k plans invested in equities.  So what is going to happen to them if the stock market crashes?

#25 A survey taken earlier this year found that 20 percent of all U.S. workers admitted that they had postponed their planned retirement age at least once during the last 12 months.  Back in 2008, that number was only at 14 percent.

Our politicians should have addressed the retirement crisis decades ago before we got to the point of being in debt up to our eyeballs.

It is being projected that the U.S. national debt will hit 344% of GDP by the year 2050, and the Congressional Budget Office says that U.S. government debt held by the public will reach a staggering 716% of GDP by the year 2080.

Obviously those figures will never be reached because our financial system would totally collapse long before then.

So what do we do?

We have tens of millions of elderly Americans that are completely and totally dependent on Social Security and Medicare, but those programs also threaten to bankrupt us as a nation.

Anyone that believes that there is a “quick fix” to these issues is being naive.

The “supercommittee” was supposed to address this problem, but they failed so spectacularly that they have become a national joke.

Sadly, most of our politicians just keep kicking the can down the road.  They hope that somehow things will just magically “work out”.

Well, the truth is that things are not going to “work out”.  The poverty level among the elderly is going to continue to increase.  Pension plans all over this nation are going to continue to fail in staggering numbers.  Social Security and Medicare are going to bleed more red ink with each passing year.

Something should have been done about this problem a long, long time ago.

But it wasn’t.

This crisis was ignored, dealing with it was put off time after time and all the doomsayers were laughed at.

Now the crisis is here, and we are all going to pay the price.’

 



Presenting Russell Napier's Greatest Hits Two weeks ago, courtesy of Gresham's Law, we brought to our readers Jim Grant's greatest hits: a compilation of the most memorable TV appearances by the famous newsletter writer. Today, we are happy to present another controversial luminary - Russell Napier: the renowned financial historian and consultant for CLSA, as well as author of the engrossing Anatomy of the Bear, who only together with Albert Edwards, has predicted that the S&P would eventually drop to 400. Napier has articulated some fantastic insights on the generational cycle, bear market bottoms and currencies in recent years. His insights, unlike those of TV pundits whose soundbites are only there to fill the gap between two ad segments, are always something to look forward to.

 

 

 

Something Big Is Coming... and It's Going to Be BAD Phoenix Capital... 11/18/2011 We have been getting MAJOR warning signs of a collapse for months now. No less than the Bank of England, the IMF, and legendary asset management firm Franklin Templeton have warned that we are...

 

 

 

One Interesting Thing About the Leading Indicators Report  The Wall Street Journal (Fri, Nov 18) { How about the most interesting thing about ‘leading economic indicators’ from mooshy mish shedlock is the weighting accorded M2 and stock prices [who seems to have forgotten his own ‘unequivocal declaration’ ( Global Recession: Right Here, Right Now at Minyanville  Mike Shedlock Sep 02, 2011 )  which by the way was correct –almost, actually a depression- and now equivocates saying ‘I would agree that a slip back into recession in the 4th quarter is unlikely, assuming of course it is even possible. Bear in mind, we have not had an official end of this recession declared yet.’ I believe mish mosh shedlock is a lightweight (link to ‘huffington post’? What’s up with that?) but he does include the following excerpt from Chris Puplava which is important, infra (Burt Domen and David Rosenberg are the ‘real deal’ - Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events .. “the new recession has started.”… Over the past 33 years, we have called the start of every recession..Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation..is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’, David Rosenberg: “It’s Time To Start Calling This For What It Is: A Modern Day Depression” Zero Hedge ,  David Rosenberg On The Depression, The ECB, MF Global As A Canary In The Coalmine... All With A Surprise Ending,  This is No Cyclical Recession… It is a Secular DE-pression

 

 

‘Chris Puplava took a good hard look at the LEI in Fool Me Once, Shame on You. Fool Me Twice, Shame on Me.

One of the things that many market commentators and research houses have pointed at to support their bullish outlook on the stock market are the leading economic indicators. I have had the sneaky suspicion that the aggressive and unprecedented actions on the part of the Fed have played a significant role in the LEI given a misleading signal as to an economic turnaround it is forecasting, while the economic components would likely paint a different picture. It is important to understand the makeup of the Conference Board’s Leading Economic Index (LEI) and the weights that each component makes up of the LEI. Below is the breakdown of the ten indicators that make up the LEI and their respective weights in the index. As seen below, the three financial indicators make up approximately 50% of the LEI while the seven economic components make up the other 50%, with the M2 money supply alone making up 35.8% of the total LEI. Money makes the world go round, I guess, according to the LEI.

http://1.bp.blogspot.com/_nSTO-vZpSgc/Ss2QhpYTrCI/AAAAAAAAHBw/aXOmraxEhEc/s400/LEI+components.png

Shown below are the YOY rate of change growth rates in the Conference Board’s LEI and my indexes of the economic and monetary components separated out. What is a clear take away is that the monetary LEI is doing the heavy lifting as the economic LEI remains in negative territory.

What you can also see is that beginning in the 1980s the growth rate between the monetary and economic LEI began to show a greater disparity in their growth rates than they did in the 1970s. What this would tend to imply is that a greater level of monetary stimulus measures were needed to translate into improved economic growth rates. This aligns with the second chart below that shows the dollar increase in debt per dollar increase in GDP, which shows higher amounts of debt were needed to produce a dollar of GDP, and we are fast approaching the “Zero Hour” in which rising debt does not translate into increased economic growth, or the “pay the piper” moment for our economy.


http://4.bp.blogspot.com/_nSTO-vZpSgc/Ss2R7PXY8qI/AAAAAAAAHB4/vCLw0ub9wzY/s400/LEI-YY-%25change.png


Zero Hour - Debt Fails To Add To GDP

http://4.bp.blogspot.com/_nSTO-vZpSgc/Ss2SVk6uicI/AAAAAAAAHCA/b69hK64Ycto/s400/Zero+Hour.png

Further illustrating the notion that it is taking record stimulus just to keep growth going is the YOY growth rate difference between the Monetary LEI and the Economic LEI, with the disparity between the two growth rates at the highest level in the last half century.

http://2.bp.blogspot.com/_nSTO-vZpSgc/Ss2S_Aqy0rI/AAAAAAAAHCI/KZv4Rc8hAR0/s400/LEI-YY-%25change2.png

The above charts simply illustrate that our economy is fundamentally weak and instead of allowing our economy to sober up after its debt binge, our monetary and governmental authorities are trying to keep the economy drunk and chugging along, using greater amounts of monetary alcohol than ever before…’

 

 

 

Something Big Is Coming... and It's Going to Be BAD Phoenix Capital... 11/18/2011 ‘We have been getting MAJOR warning signs of a collapse for months now. No less than the Bank of England, the IMF, and legendary asset management firm Franklin Templeton have warned that we are... Something major is occuring in the markets today.The US economy peaked in 2007. However, throughout much of 2008, the stock market continued to rally despite the economic collapse as well as the financial system imploding.Throughout this period the credit markets jammed up and implied something VERY BAD was in the system. However, stock investors continued to pile into stocks because, well, frankly stocks always are the last to "get it."And when stocks finally did get it... it was quite a thing.This same environment is occurring today. Only this time the collapse is sovereign in nature: entire countries are going bust.We have been getting MAJOR warning signs of a collapse for months now. No less than the Bank of England, the IMF, and legendary asset management firm Franklin Templeton have warned that we are facing an epic, hellish crisis.We got the first taste of this in August when the S&P 500 literally wiped out a year's worth of gains in two weeks The only thing that brought us back from the brink at that time was the belief that the EU mess might be solvable and a coordinated intervention from the world Central Banks.We then had a spirited rally as the Fed and central banks went "all in" to force the stock market above its 200-DMA.This final "hurrah" has failed and the financial system is literally imploding. The EU will be broken up in the next month or so and it is highly likely Germany will back out of the Euro altogether.Moreover, the world central banks are now totally out of ammunition. They've spent Trillions of Dollars in bailouts, abandoned accounting standards, and even moved TRILLIONs in garbage debt onto the public's balance sheet.None of this has worked. The credit markets are jammed up just like in 2008. Italy, the third largest bond market in the world, is on the verge of default. No one wants to fund the EFSF. China is entering a hard landing and economic collapse. The US is in a clear depression.And on and on.This is the single most dangerous market environment of our lifetimes.  We are entering a period of massive wealth destruction. We will see bank holidays and civil unrest. We will see sovereign defaults. We will see temporary shortages in various goods and services.So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding…’

 

 

 

Train Reading: Does Water Prevent Dehydration? The EU Says No. The Wall Street Journal [ Wow! Talk about things that don’t matter! Yeah … like pervasively corrupt, defacto bankrupt america, the eu’s lost its shine … maybe, employing an american strategy, they were just try to sell more of their ‘gatorade knockoff’! ]

 

 

The next financial crisis will be hellish, and it’s on its way Nov 17th, 2011 (Forbes) —‘ “There is definitely going to be another financial crisis around the corner,” says hedge fund legend Mark Mobius, “because we haven’t solved any of the things that caused the previous crisis.”We’re raising our alert status for the next financial crisis. We already raised it last week after spreads on U.S. credit default swaps started blowing out. We raised it again after seeing the remarks of Mr. Mobius, chief of the $50 billion emerging markets desk at Templeton Asset Management…”Prior to the bursting of the credit bubble, the public was shocked to learn that our biggest investment banks were levered 30-to-1. When asset values fell, those banks were quickly wiped out. But now the Fed is holding many of the same types of assets and is levered 51-to-1! If the value of their portfolio were to fall by just 2%, the Fed itself would be wiped out.”[source]’



The next financial crisis will be hellish, and it’s on its way  http://news.yahoo.com/next-financial-crisis-hellish-way-204303737.html   Addison Wiggin | Forbes – Wed, Nov 16, 2011’  "There is definitely going to be another financial crisis around the corner," says hedge fund legend Mark Mobius, "because we haven't solved any of the things that caused the previous crisis."

We're raising our alert status for the next financial crisis. We already raised it last week after spreads on U.S. credit default swaps started blowing out.  We raised it again after seeing the remarks of Mr. Mobius, chief of the $50 billion emerging markets desk at Templeton Asset Management.

Speaking in Tokyo, he pointed to derivatives, the financial hairball of futures, options, and swaps in which nearly all the world's major banks are tangled up.

Estimates on the amount of derivatives out there worldwide vary. An oft-heard estimate is $600 trillion. That squares with Mobius' guess of 10 times the world's annual GDP. "Are the derivatives regulated?" asks Mobius. "No. Are you still getting growth in derivatives? Yes."

In other words, something along the lines of securitized mortgages is lurking out there, ready to trigger another crisis as in 2007-08.

What could it be? We'll offer up a good guess, one the market is discounting.

Seldom does a stock index rise so much, for so little reason, as the Dow did on the open Tuesday morning: 115 Dow points on a rumor that Greece is going to get a second bailout.

Let's step back for a moment: The Greek crisis is first and foremost about the German and French banks that were foolish enough to lend money to Greece in the first place. What sort of derivative contracts tied to Greek debt are they sitting on? What worldwide mayhem would ensue if Greece didn't pay back 100 centimes on the euro?

That's a rhetorical question, since the balance sheets of European banks are even more opaque than American ones. Whatever the actual answer, it's scary enough that the European Central Bank has refused to entertain any talk about the holders of Greek sovereign debt taking a haircut, even in the form of Greece stretching out its payments.

That was the preferred solution among German leaders. But it seems the ECB is about to get its way. Greece will likely get another bailout — 30 billion euros on top of the 110 billion euro bailout it got a year ago.

It will accomplish nothing. Going deeper into hock is never a good way to get out of debt. And at some point, this exercise in kicking the can has to stop. When it does, you get your next financial crisis.

And what of the derivatives sitting on the balance sheet of the Federal Reserve? Here's another factor behind our heightened state of alert.

"Through quantitative easing efforts alone," says Euro Pacific Capital's Michael Pento, "Ben Bernanke has added $1.8 trillion of longer-term GSE debt and mortgage-backed securities (MBS)."

Think about that for a moment. The Fed's entire balance sheet totaled around $800 billion before the 2008 crash, nearly all of it Treasuries. Now the Fed holds more than double that amount in mortgage derivatives alone, junk that the banks needed to clear off their own balance sheets.

"As the size of the Fed's balance sheet ballooned," continues Mr. Pento, "the dollar amount of capital held at the Fed has remained fairly constant. Today, the Fed has $52.5 billion of capital backing a $2.7 trillion balance sheet.

"Prior to the bursting of the credit bubble, the public was shocked to learn that our biggest investment banks were levered 30-to-1. When asset values fell, those banks were quickly wiped out. But now the Fed is holding many of the same types of assets and is levered 51-to-1! If the value of their portfolio were to fall by just 2%, the Fed itself would be wiped out."

Mr. Pento's and Mr. Mobius' views line up with our own, which we laid out during interviews on our trip to China this month.

An Eye on the Next Financial Crisis by Addison Wiggin originally appeared in the Daily Reckoning.’

 

 

 

Tighter Credit Suggests Stocks Should Fall  The Wall Street Journal ‘All in all, the US stock-market selloff of the past couple of days has not been nearly as bad as it could have been, given that credit-market stress indicators are pushing to levels not seen since the 2008-09 crisis.

It might only be a matter of time before stocks catch up, however.

The US market has been buoyed by a string of better-than-expected economic reports that have helped encourage the belief that the US is a relatively safe haven, insulated from the problems of Europe.

But these data are coincident, or lagging, data at best, warns Mike Darda of MKM Partners. Leading indicators are found in the credit markets and are pointing to tighter financial conditions — and lower stock prices — in the future:

Pressures on sovereign debt markets in Europe have created concerns about collateral and capital in the European banking system, pushing funding spreads sharply wider (two-year euro interest rate swap spreads hit 114 bps today, a new 2011 high and not far from the October 2008 peak of 126 bps).

These pressures are also affecting the U.S. financial system and credit markets. Two-year interest rate swap spreads in the U.S. have hit new 2011 highs above 50 bps;  three-month FRA/OIS spreads (based on expectations of LIBOR settings)  hit 70 bps today. Three-month dollar LIBOR has set higher every day since late July.

Although U.S. credit markets are not nearly in the condition that European credit markets are, they are nonetheless deteriorating, which is one reason we should not take too much comfort in recent coincident data on sales and production that have yet to reflect the tighter financial conditions now in place.

U.S. short-term funding indicators suggest corporate-quality spreads could rise by more than 40%, a move that would likely spark at least a 10%-15% decline in the S&P 500 from current levels. FRA/OIS spreads tend to lead corporate spreads by about one month. They also have led the S&P 500 equity index by about that interval over most of the last two years. At current levels (near 70 bps), the FRA/OIS spreads suggest corporate spreads will widen by  40-50%. This would be tantamount to Baa/Aaa spreads rising to 190 bps from 127 bps, which would mark new highs for the year.

A similar surge in high yield spreads from here would place them at  669 bps, also new highs for the year. The S&P 500 equity index, which tends to move inversely to the level of credit spreads, would most likely decline by at least 10%-15%  if this scenario unfolds,  which would place the S&P 500 back below 1100.

As for the recent patch of stronger-than-expected economic data, let’s not forget that real GDP expanded by 3.6% in Q207 and then by 3% in Q307, right as the business cycle peaked. Credit markets and financial conditions  lead the business cycle; coincident data tell us where we are or have been. At turning points, coincident data—which tend to be extrapolated forward by Wall Street forecasters—can be misleading. And costly.’

 

 

 

The Chart That Trumps Analysts Call for a Year-End Rally Simon Maierhofer | ETFguide

 

 

 

 

Train Reading: Tiger Woods Vs. Bill Miller The Wall Street Journal

What do Tiger Woods and Bill Miller have in common? — Abnormal Returns { So absolutely preposterous is the notion (as per this article) of comparison of golf / golfers, to stock trading / traders, I felt compelled to comment here for the record. I’ve always viewed golf / golfers in a favorable light. Indeed, as kids we literally ‘did everything’ at the affluent ‘Arcola Country Club’ [which bordered the ‘Rainbows End’ riding stables (horses) for hire to the public]. From hunting, to fishing, to sleigh-riding, to ice-skating / hockey, to campfires on the ice at night, to of course, golfing ‘the back-nine’ with golf balls amply supplied from ‘the rough’, we were ‘tacitly approved’ interlopers whose occasional interaction with the extremely civilized affluent members was always amicably cordial and a pleasure. While I always liked golf and admire the skill involved, I hardly considered it a ‘sport’ per se (and for me and my body type, insufficient exercise for the amount of time spent). Rather, I thought of golf as a gentleman’s indulgent diversion, and the golf course itself a place of peaceable beauty. Those are good things. On the other hand, traders and wall street particularly are so sordid and despicable so as to make any such comparisons a stretch at best and sheer nonsense at worse. There are very few successful traders over time as probabilities eventually catch up. Moreover, ‘inside help’ / connections eventually (except for the biggest frauds – ie., the big [ still unprosecuted ] boys, ie., goldmans, et als) dry up, fade away like old (mafia foot) soldiers. Additionally, the high volume computerization / programmed / manipulated High Frequency Trading have left most not connected to said churn-and-earn scam / fraud in the dust. No … do not insult golfers by comparing them with traders; and, do not disparage golf by speciously comparing it to trading or any other sordid activity connected to fraudulent wall street; they are as dissimilar as ‘day and night’. }

What do financial stocks and Russian roulette have in common? — Reformed Broker

The Super Committee’s worst-case scenario — The Atlantic

Should some bankers be prosecuted? — New York Review of Books

Learning to love a lost decade — FT Alphaville

ADP chief’s exit followed SC arrest — Footnoted

Live updates of Occupy Wall Street today, with videos, photos — The Atlantic, New York Times

The markets are getting nothing for Christmas — Market Anthropology

The ECB’s monetary policy game for the iPhone is suitably policy constricted — Reuters

Large Hadron Collider may have found crack in modern physics — Wired

 

 

 

Stocks sink after Fitch warns on US bank exposure AP

 

Citi Economist Warns of Imminent Spanish, Italian Default  The Wall Street Journal (11-16-11)

 

Euro-Dollar Basis Swap Cost at 2008 Crisis Levels The Wall Street Journal


Financials Drag Market Lower, Fitch Raises Doubts About Euro Hedge Effectiveness The Wall Street Journal Gongloff (11-16-11) 

 

 

 

Stocks Making Risky Bet on Massive ECB Money Printing The Wall Street Journal


$15,OOO,OOO,OOO,OOOBAMA! - It's Official: Total US Debt Passes $15 Trillion DEBT CLOCKS:  U.S. -  http://usdebtclock.org      World -  http://usdebtclock.org/world-debt-clock.html


 
Bob Chapman: Surviving The Banker Sociopaths The Alex Jones Channel | Alex talks with regular Friday guest Bob Chapman of the International Forecaster.

 

Ignore The Noise Of High Frequency Trading Forbes Ken Kamen [ Unfortunately, though not a perfect analogy, that’s like having said, ignore dillinger, sutton, etc., because the banks will still be open the next day (after their robberies). The problem is that ‘money’ siphoned off by the ‘churn-and-earn’ has to come from some place; viz., ie., main street, tax payers, etc.. Dave’s Daily http://www.etfdigest.com  ‘Perhaps this is now the “no news is good news” market since a rally on Berlusconi’s resignation is beyond irrational. But, we’re long so I shouldn’t complain too much even though emotionally there isn’t much to like overall. The only bullish thing is the action of the tape and this is the season when bulls can make their year. Speaking of HFTs and algos, HFT issues are thoroughly covered with HFT Alert founder Steve Hammer and myself in the video interview below. The presentation contains two parts: the first outlines HFT basics—how they work and their controversial impact on financial markets. The second part we discuss how traders can benefit or make money by using HFT Alert’s unique trading services. http://www.youtube.com/watch?feature=player_embedded&v=NzfmT4vGXZY [ ‘Off to the golf course’, indeed. Those are Mr. Hammer’s concluding remarks. Not because he’s a trader, but because he’s selling this ‘very functional in terms of what’s going on’ package. The truth is that even today, at lightning speeds, there are very few successful traders (as distinguished from investors, and there is a huge distinction, though much less so today)(over the longer term and is akin to the apposite old adage, ‘you can win a race but you can’t win at the races’). Indeed, some companies / brokerages employ them just for the volume / commissions they produce. Most telling, in this video, is the beginning wherein it’s explained that in literally a second(s), mere quotes can give rise to revenue (as with commissions, pieces of the action) which has to come from someplace. The problem is that ultimately, this ‘churn-and-action’ computer programmed action at ‘lightning speed’ is parasitic inasmuch as it is without any economic utility whatsoever in real economic terms as are commissions in ‘after-market stock trading’ (as distinguished from initial ipo’s) that are tantamount to a tax on the real economy; hence, the benefit to the frauds on wall street at the expense of and to the detriment of main street, taxpayers, and the populace in general, as we’ve seen and continue to see. Remember, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. They’re just not that important and represent, like termites eating away at the nation’s foundation, a drag on the economy, the nation as one would expect from parasites such as they are’. What to Expect Next From the Markets Minyanville  Jeffrey Cooper ‘Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and Caterpillar { Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’} Then there’s the fed complicity in these various wall street scams by way of QE’s / dollar debasement which of course benefits the frauds on wall street to the detriment of literally everyone else. ]So, as indicated stock prices shot higher on the Berlusconi news. Gold prices saw some profit-taking, the dollar was weaker, commodities stronger and bonds weaker.Volume was on the light side and breadth per the WSJ was quite positive…’ ] 


 

This is No Cyclical Recession… It is a Secular DE-pression To put US household debt levels into a historical perspective, in order for US households to return to their long-term average for leverage ratios and their historic relationship to GDP growth we’d need to write off between $4-4.5 TRILLION in household debt (an amount equal to about 30% of total household debt outstanding).

 

 

David Rosenberg On The Depression, The ECB, MF Global As A Canary In The Coalmine... All With A Surprise Ending



Do Valuation Metrics Still Apply or Has The Market Become Untradable? Simon Maierhofer Etf Guide [ Short answers: No and yes the market has become ‘untradable’ for investors. I would add that the ‘debased dollar policies’ (ie., QE’s, overprinting of paper currencies / dollars, etc.) enable sales / revenues to be booked with ‘more’ of the inflated dollars relative to costs booked at the ‘fewer / greater value’ dollars which spikes earnings but leads to the inevitable margin erosion when the reported costs ‘catch up’ in terms of inflated ‘Weimar’ dollars. Hence, even the averages when deflated for real inflation (see Faisal infra) show a far less sanguine picture (than say, hard assets, ie., gold, etc.). Even more important is the effect of the HFT programmed trades (the current article follows):…

 

 

Hit With Big Withdrawals, Fed Sells Assets, Borrows Cash  ilene : 11/06/2011 - 17:13 We'll have to see what hits the fan this week.

 

 

Dave’s Daily http://www.etfdigest.com  ‘Perhaps this is now the “no news is good news” market since a rally on Berlusconi’s resignation is beyond irrational. But, we’re long so I shouldn’t complain too much even though emotionally there isn’t much to like overall. The only bullish thing is the action of the tape and this is the season when bulls can make their year. Speaking of HFTs and algos, HFT issues are thoroughly covered with HFT Alert founder Steve Hammer and myself in the video interview below. The presentation contains two parts: the first outlines HFT basics—how they work and their controversial impact on financial markets. The second part we discuss how traders can benefit or make money by using HFT Alert’s unique trading services.

http://www.youtube.com/watch?feature=player_embedded&v=NzfmT4vGXZY

[ ‘Off to the golf course’, indeed. Those are Mr. Hammer’s concluding remarks. Not because he’s a trader, but because he’s selling this ‘very functional in terms of what’s going on’ package. The truth is that even today, at lightning speeds, there are very few successful traders (as distinguished from investors, and there is a huge distinction, though much less so today)(over the longer term and is akin to the apposite old adage, ‘you can win a race but you can’t win at the races’). Indeed, some companies / brokerages employ them just for the volume / commissions they produce. Most telling, in this video, is the beginning wherein it’s explained that in literally a second(s), mere quotes can give rise to revenue (as with commissions, pieces of the action) which has to come from someplace. The problem is that ultimately, this ‘churn-and-action’ computer programmed action at ‘lightning speed’ is parasitic inasmuch as it is without any economic utility whatsoever in real economic terms as are commissions in ‘after-market stock trading’ (as distinguished from initial ipo’s) that are tantamount to a tax on the real economy; hence, the benefit to the frauds on wall street at the expense of and to the detriment of main street, taxpayers, and the populace in general, as we’ve seen and continue to see. Remember, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. They’re just not that important and represent, like termites eating away at the nation’s foundation, a drag on the economy, the nation as one would expect from parasites such as they are’. What to Expect Next From the Markets Minyanville  Jeffrey Cooper ‘Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and Caterpillar { Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’} Then there’s the fed complicity in these various wall street scams by way of QE’s / dollar debasement which of course benefits the frauds on wall street to the detriment of literally everyone else. ]

So, as indicated stock prices shot higher on the Berlusconi news. Gold prices saw some profit-taking, the dollar was weaker, commodities stronger and bonds weaker.Volume was on the light side and breadth per the WSJ was quite positive…’



Barclays Says Italy Is Finished: "Mathematically Beyond Point Of No Return"

 

 

 

 

Unique Historic Precedents Suggest Lower Prices    http://finance.yahoo.com/news/Unique-Historic-Precedents-etfguide-1382828970.html?x=0&.v=1 

 

 

12 Reasons To Be Extremely Pessimistic About The Direction That The Economy Is Headed    The American Dream
November 2, 2011 ‘Do you want to feel optimistic about the U.S. economy?  If so, you might not want to read the rest of this article.  In many areas of the United States today, you can almost smell the fear and the anxiety in the air.  Survey after survey has found that the American people are extremely pessimistic about the direction the economy is headed.  In fact, many recent surveys have found that economic pessimism is at the highest levels ever recorded.  There has been an astonishing loss of faith in the system.  In general, people are extremely dissatisfied with how things are going right now, and they do not believe that things will get better any time soon.  When the majority of the population starts losing hope like that, it creates a very unstable economic environment.  Once people are gripped by desperation, they start behaving much differently.  Desperate people do desperate things, and we are already starting to see this in many parts of the country.

It would be great if there was some reason to be optimistic about things, but our leaders continue to pursue the same failed policies that got us into this mess in the first place.

The statistics that you are about to read should alarm you.  The American people have gotten it into their heads that things are bad and that they are going to get even worse.

Unfortunately, the American people are correct about that.

The following are 12 reasons to be extremely pessimistic about the direction that the economy is headed right now….

#1 A big chunk of the American people are flat broke.  According to one recent survey, one-third of all Americans say that they have absolutely no spare cash.

#2 The budgets of American families are being stretched incredibly thin and the savings rate is going down again.  In fact, the savings rate in September was the lowest that it has been since December 2007.

#3 Back in 2001, Gallup began asking Americans about how they feel about the state of their own personal finances.  In October, Gallup once again asked this question, and 22 percent of the respondents rated their personal financial situations as “poor”.  That is the highest number that Gallup has ever seen.  In addition, the gap between the number of Americans that said that their finances were “getting worse” and the number of Americans that said their finances were “getting better” was also the largest that Gallup has ever seen.

#4 Overall, Americans are very depressed about the state of the U.S. economy.  According to a recent Associated Press-GfK poll, 43 percent of all Americans believe that the economy is in “very poor” shape.

#5 Big corporations continue to lay off more American workers.  For example, Whirlpool has just announced that it will be slashing 5,000 more jobs in the United States and Europe.

#6 Americans seem to have an incredibly dim view of the job market.  One recent survey discovered the following….

This month, just 9% of Americans would rate the job market of their region of the nation as good while 67% would rate it as bad and one-quarter (24%) say it is neither good nor bad.

#7 If nearly all Americans believe that something bad is going to happen, does that make it more likely that it actually will happen?  A recent IBOPE Zogby Interactive Poll found that 95 percent of all Americans are “somewhat concerned” or “very concerned” that we are headed for a double-dip recession.

#8 The American people are also overwhelmingly pessimistic about the housing market.  In fact, the same IBOPE Zogby Interactive Poll referenced above found that 89 percent of all Americans are “somewhat concerned” or “very concerned” that there will be an increase in foreclosures over the next two years.

#9 Older Americans tend to be cranky in general, but the amount of pessimism that they are exhibiting about the economy right now is absolutely stunning.  The following comes from a recent article in the Huffington Post….

Older workers are gloomier about the economy now than they were last year.

Nearly two thirds of workers older than 50 first surveyed by AARP’s Public Policy Institute in 2010 said things had gotten worse by the time the senior lobbying powerhouse followed up in August. Fewer than one in 10 said their view of the economy had improved. The rest said things had stayed the same.

#10 The consensus among the American people seems to be that the economy will get even worse leading up to the election in 2012.  The following is what one recent telephone survey discovered….

By a 49%-35% margin, Americans say they expect the U.S. economy to worsen between now and the November 2012 presidential election.

#11 The U.S. national debt is an anchor around our necks that just gets heavier and heavier as time goes by.  The U.S. government is now about 15 trillion dollars in debt, and a recent Allstate-National Journal poll discovered that 79 percent of all Americans “believe the federal debt and deficit have a meaningful impact on their personal finances.”

#12 The financial crisis in Europe just seems to get worse by the day.  The United States is already teetering on the edge of an economic disaster, and if Europe experiences a big time financial crash it seems extremely unlikely that we would be able to avoid another major recession.

 

Things simply do not look very promising for the economy right now.

As I wrote about recently, there are a lot of signs that the American people are already extremely angry and frustrated by what is happening to the economy.

So what is going to happen if things get significantly worse?

Unfortunately, there simply are not any “quick fixes” which are going to put us back “on course”.  The consequences that we are experiencing now are the result of decades of bad decisions.  The American people kept sending incompetents, con men and charlatans back to Washington D.C. over and over and over and now we are going to pay the price.

The prosperity of the last 30 years was a false prosperity.  We squandered our national inheritance and we lived the “high life” by piling up mountains of debt unlike anything that the world has ever seen before.

In the end, there is always a very high price for “living for today” at the expense of the future.  Tomorrow always ends up arriving way too soon, and future generations will curse us for being so foolish.

The party was great while it lasted, but it is coming to an end.

A whole lot of economic trouble is on the horizon, and it is going to be very, very painful.’

 

 

 

 

Don't Be Fooled - Here's The Real Reason For This Week's Meltdown – ETFguide Simon Maierhofer, 11-1-11  A picture says more than a thousand words and a chart explains more than a thousand analysts' opinions (literally). Profitable investing depends on the credibility of your research sources. This article will contrast the one chart that's predicted every recent turn weeks in advance and conventional Wall Street wisdom.

Wall Street 'Wisdom'

Wall Street made us believe that last Thursday's 3% rally across the board - Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), Nasdaq (Nasdaq: ^IXIC), banks (NYSEArca: KBE - News), financials (NYSEArca: XLF - News), technology (NYSEArca: XLK - News), you name it - was because of a comprehensive European (NYSEArca: VGK - News) debt deal that would solve all problems.

Here are some of the headlines that reflect Wall Street's 'wisdom:'

Forbes: 'Europe three-point debt salvation plan lets bulls free'

Breakout: 'Don't fight the rally: Stocks soar after Europe deal'

Reuters: 'Wall Street soars on hopes EU finally has a fix'

ETFTrends: 'S&P 500 ETFs rally over the 200-day average opens door for year-end rally' (more about the significance of the 200-day average in a moment)

Zachs: 'S&P 1,350 is not a stretch'

Even Greece's Prime Minister George Papandreou was moved to confirm that: 'The debt is absolutely sustainable now. Greece can settle its accounts from the past now, once and for all.'

Today, news that Greece could default on its debt and drop out of the European currency hit the fan.

Trend Following Technicals Turn Up

In all fairness, trend following technicals did turn up. It was even possible to interpret the market's push as a technical breakout. The October 30 ETF Profit Strategy update acknowledged and warned that: 'Trend following technicals, momentum, sentiment and seasonality suggest higher prices. But trend following technicals can be treacherous and we'll do well to view this rally with suspicion.'

In addition to just being suspicious, the update recommended to go short if the S&P falls below 1,270. S&P 1,270 is not just some random number, it was crucial support. The chart below, featured in the October 14 ETF Profit Strategy Newsletter, shows why:

The Most Reliable Roadmap

The chart shows several distinct parallels between the 2007/08 market top and today.

                       https://www.etfguide.com//contributor/UserFiles/8/Image/222.gif  

1) In 2007/08 the S&P touched the yellow trend line twice before slicing through it. The same occurred in 2011.

2) A break below the yellow trend line in 2008 led to a freefall decline. The same occurred on August 2, 2011. On July 31, the ETF Profit Strategy update warned that: 'A break below the 200-day SMA and the trend line may trigger panic selling.'

3) The initial 2008 low was followed by sideways trading and another low. The same occurred in 2011. The August 9 low at S&P 1,102 was followed by another low on October 4 at 1,077.

The October 2 ETF Profit Strategy update expected this low and foretold that: 'The ideal market bottom would see the S&P dip below 1,088 intraday, followed by a strong recovery and a close above 1,088.'

4) This low was followed by a retest of the yellow trend line in 2008. The equivalent 2011 yellow trend line ran through S&P 1,270.

The October 2 update stated that: 'From a technical point of view this counter trend rally should end somewhere around 1,275 - 1,300.'

The October 14 update warned that it wouldn't 'feel' right to short the S&P above 1,270: 'By the time the S&P gets to rendezvous with the yellow trend lines, optimism (at least to a certain degree) will be back and the media will probably tell us that a larger European debt crisis has been averted. It will take a strong contrarian conviction to short the markets at that time.'

Of course there's more to investing than blindly following a previous pattern that may or may not come true.

But as long as other research components such as seasonality and sentiment confirmed what the 2008 outline predicted, there was no reason to doubt it.

The Bottom Might Fall Out

Based solely on the 2008 script, stocks are due for much lower prices…’

 

 

 

Nobel Prize-Winning Economist: “War Is Widely Thought To Be Linked To Economic Good Times … NONSENSE” Washington’s Blog | Contrary to a Common Myth, War is Bad for the Economy Washington’s Blog
November 1, 2011

Contrary to a Common Myth, War is Bad for the Economy

Nobel prize winning economist Paul Krugman wrote yesterday:

Military spending does create jobs when the economy is depressed. Indeed, much of the evidence that Keynesian economics works comes from tracking the effects of past military buildups.

(Mr. Krugman has said the same thing many times in the past. And many other influential people havesaid the same thing.)

I am not a Nobel prize winning economist … but Joseph Stiglitz is.

Stiglitz wrote in 2003:

War is widely thought to be linked to economic good times. The second world war is often said to have brought the world out of depression, and war has since enhanced its reputation as a spur to economic growth. Some even suggest that capitalism needs wars, that without them, recession would always lurk on the horizon.

Today, we know that this is nonsense. The 1990s boom showed that peace is economically far better than war. The Gulf war of 1991 demonstrated that wars can actually be bad for an economy.

Stiglitz has also said that this decade’s Iraq war has been very bad for the economy. See thisthis andthis.

A No-Brainer

This is a no-brainer, if you think about it.

We’ve been in Afghanistan for almost twice as long as World War II. We’ve been in Iraq for years longer than WWII. We’ve been involved in 7 or 8 wars in the last decade. And yet still in a depression. (And see this).

If wars really helped the economy, don’t you think things would have improved by now?

Indeed, the Iraq war alone could end up costing more than World War II. And given the other wars we’ve been involved in this decade, I believe that the total price tag for the so-called “War on Terror” will definitely support that of the “Greatest War”.

Additional Reasons War Is Bad for the Economy

The New Republic noted in 2009:

Conservative Harvard economist Robert Barro has argued that increased military spending during WWII actually depressed other parts of the economy.

Also from the right, Robert Higgs has done good work showing that military spendingwasn’t the primary source of the recovery and that GDP growth during WWII has been “greatly exaggerated.”

And from the left, Larry Summers and Brad Delong argued back in 1988 that “five-sixths of the decline in output relative to the trend that occurred during the Depression had been made up before 1942.”

Economist James Galbraith has shown that war always causes inflation, which hurts the average American:

Inflation applies the law of the jungle to war finance. Prices and profits rise, wages and their purchasing power fall. Thugs, profiteers and the well connected get rich. Working people and the poor make out as they can. Savings erode, through the unseen mechanism of the “inflation tax” — meaning that the government runs a big deficit in nominal terms, but a smaller one when inflation is factored in.

(Ben Bernanke says that inflation is a tax, and Dylan Grice notes that inflation causes societies to prosecute minorities.   And – sorry – but we can’t inflate our way out of our debt trap.)

As I noted last year:

All of the spending on unnecessary wars adds up.

The U.S. is adding trillions to its debt burden to finance its multiple wars in Iraq, Afghanistan, Yemen, etc.

Two top American economists – Carmen Reinhart and Kenneth Rogoff – show that the more indebted a country is, with a government debt/GDP ratio of 0.9, and external debt/GDP of 0.6 being critical thresholds, the more GDP growth drops materially.

Specifically, Reinhart and Rogoff write:

The relationship between government debt and real GDP growth is weak for debt/GDP ratios below a threshold of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. We find that the threshold for public debt is similar in advanced and emerging economies…

Indeed, it should be obvious to anyone who looks at the issue that deficits do matter.

A PhD economist [Michel Chossudovsky] told me:

War always causes recession. Well, if it is a very short war, then it may stimulate the economy in the short-run. But if there is not a quick victory and it drags on, then wars always put the nation waging war into a recession and hurt its economy.

You know about America’s unemployment problem. You may have even heard that the U.S. may very well have suffered a permanent destruction of jobs.

But did you know that the defense employment sector is booming?

As I pointed out in August, public sector spending – and mainly defense spending – has accounted for virtually all of the new job creation in the past 10 years:

The U.S. has largely been financing job creation for ten years. Specifically, as the chief economist for BusinessWeek, Michael Mandel, points out, public spending has accounted for virtually all new job creation in the past 10 years:

Private sector job growth was almost non-existent over the past ten years. Take a look at this horrifying chart:

http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs1.gif

Between May 1999 and May 2009, employment in the private sector sector only rose by 1.1%, by far the lowest 10-year increase in the post-depression period.

It’s impossible to overstate how bad this is. Basically speaking, the private sector job machine has almost completely stalled over the past ten years. Take a look at this chart:

http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs2.gif

Over the past 10 years, the private sector has generated roughly 1.1 million additional jobs, or about 100K per year. The public sector created about 2.4 million jobs.

But even that gives the private sector too much credit. Remember that the private sector includes health care, social assistance, and education, all areas which receive a lot of government support.

***

Most of the industries which had positive job growth over the past ten years were in the HealthEdGov sector. In fact, financial job growth was nearly nonexistent once we take out the health insurers.

Let me finish with a final chart.

http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs4.gif

Without a decade of growing government support from rising health and education spending and soaring budget deficits, the labor market would have been flat on its back.

Indeed, Former Secretary of Labor Robert Reich lamented last year

America’s biggest — and only major — jobs program is the U.S. military.

Back to my essay:

Raw Story argues that the U.S. is building a largely military economy:

The use of the military-industrial complex as a quick, if dubious, way of jump-starting the economy is nothing new, but what is amazing is the divergence between the military economy and the civilian economy, as shown by this New York Times chart.

In the past nine years, non-industrial production in the US has declined by some 19 percent. It took about four years for manufacturing to return to levels seen before the 2001 recession — and all those gains were wiped out in the current recession.

By contrast, military manufacturing is now 123 percent greater than it was in 2000 — it has more than doubled while the rest of the manufacturing sector has been shrinking…

It’s important to note the trajectory — the military economy is nearly three times as large, proportionally to the rest of the economy, as it was at the beginning of the Bush administration. And it is the only manufacturing sector showing any growth. Extrapolate that trend, and what do you get?

The change in leadership in Washington does not appear to be abating that trend…[121]

So most of the job creation has been by the public sector. But because the job creation has been financed with loans from China and private banks, trillions in unnecessary interest charges have been incurred by the U.S.And this shows military versus non-military durable goods shipments:

http://marketoracle.co.uk/images/2010/Jan/us-collapse-18-11.gif

[Click here to view full image.]

So we’re running up our debt (which will eventually decrease economic growth), but the only jobs we’re creating are military and other public sector jobs.

PhD economist Dean Baker points out that America’s massive military spending on unnecessary and unpopular wars lowers economic growth and increasesunemployment:

Defense spending means that the government is pulling away resources from the uses determined by the market and instead using them to buy weapons and supplies and to pay for soldiers and other military personnel. In standard economic models, defense spending is a direct drain on the economy, reducing efficiency, slowing growth and costing jobs.

A few years ago, the Center for Economic and Policy Research commissioned Global Insight, one of the leading economic modeling firms, to project the impact of a sustained increase in defense spending equal to 1.0 percentage point of GDP. This was roughly equal to the cost of the Iraq War.

Global Insight’s model projected that after 20 years the economy would be about 0.6 percentage points smaller as a result of the additional defense spending. Slower growth would imply a loss of almost 700,000 jobs compared to a situation in which defense spending had not been increased. Construction and manufacturing were especially big job losers in the projections, losing 210,000 and 90,000 jobs, respectively.

The scenario we asked Global Insight [recognized as the most consistentlyaccurate forecasting company in the world] to model turned out to have vastly underestimated the increase in defense spending associated with current policy. In the most recent quarter, defense spending was equal to 5.6 percent of GDP. By comparison, before the September 11th attacks, the Congressional Budget Office projected that defense spending in 2009 would be equal to just 2.4 percent of GDP. Our post-September 11th build-up was equal to 3.2 percentage points of GDP compared to the pre-attack baseline. This means that the Global Insight projections of job loss are far too low…

The projected job loss from this increase in defense spending would be close to 2 million. In other words, the standard economic models that project job loss from efforts to stem global warming also project that the increase in defense spending since 2000 will cost the economy close to 2 million jobs in the long run.

The Political Economy Research Institute at the University of Massachusetts, Amherst has also shown that non-military spending creates more jobs than military spending.

So we’re running up our debt – which will eventually decrease economic growth – and creating many fewer jobs than if we spent the money on non-military purposes.

As I wrote last year:

It is ironic that America’s huge military spending is what made us an empire … but our huge military is what is bankrupting us … thus destroying our status as an empire.

Even Admiral Mullen seems to agree:

The Pentagon needs to cut back on spending.

“We’re going to have to do that if it’s going to survive at all,” Mullen said, “and do it in a way that is predictable.”

Indeed, Mullen said:

For industry and adequate defense funding to survive … the two must work together. Otherwise, he added, “this wave of debt” will carry over from year to year, and eventually, the defense budget will be cut just to facilitate the debt.

Former Secretary of Defense Robert Gates agrees as well. As David Ignatius wrote in the Washington Post in May:

After a decade of war and financial crisis, America has run up debts that pose a national security problem, not just an economic one.

***

One of the strongest voices arguing for fiscal responsibility as a national security issue has been Defense Secretary Bob Gates. He gave a landmark speech in Kansas on May 8, invoking President Dwight Eisenhower’s warnings about the dangers of an imbalanced military-industrial state.

“Eisenhower was wary of seeing his beloved republic turn into a muscle-bound, garrison state — militarily strong, but economically stagnant and strategically insolvent,” Gates said. He warned that America was in a “parlous fiscal condition” and that the “gusher” of military spending that followed Sept. 11, 2001, must be capped. “We can’t have a strong military if we have a weak economy,” Gates told reporters who covered the Kansas speech.

On Thursday the defense secretary reiterated his pitch that Congress must stop shoveling money at the military, telling Pentagon reporters: “The defense budget process should no longer be characterized by ‘business as usual’ within this building — or outside of it.”

While some might want to start another war, America’s top military leaders and economists say that would be a very bad idea.

Indeed, military strategists have known for 2,500 years that prolonged wars are disastrous.

Note 1: Security experts – conservative hawks and liberal doves alike – agree that waging war in the Middle East weakens national security and increases terrorism. See thisthisthisthisthisthis and this.

Terrorism – in turn – terrorism is bad for the economy.  Specifically, a study by Harvard and the National Bureau of Economic Research (NBER) points out:

From an economic standpoint, terrorism has been described to have four main effects (see, e.g., US Congress, Joint Economic Committee, 2002). First, the capital stock (human and physical) of a country is reduced as a result of terrorist attacks. Second, the terrorist threat induces higher levels of uncertainty. Third, terrorism promotes increases in counter-terrorism expenditures, drawing resources from productive sectors for use in security. Fourth, terrorism is known to affect negatively specific industries such as tourism.

The Harvard/NBER concludes:

In accordance with the predictions of the model, higher levels of terrorist risks are associated with lower levels of net foreign direct investment positions, even after controlling for other types of country risks. On average, a standard deviation increase in the terrorist risk is associated with a fall in the net foreign direct investment position of about 5 percent of GDP.

So the more unnecessary wars American launches and the more innocent civilians we kill, the less foreign investment in America, the more destruction to our capital stock, the higher the level of uncertainty, the more counter-terrorism expenditures and the less expenditures in more productive sectors, and the greater the hit to tourism and some other industries.

Moreover:

Terrorism has contributed to a decline in the global economy (for example, European Commission, 2001).

So military adventurism increases terrorism which hurts the world economy. And see this.

Note 2: True conservatives are anti-war.’


 

 

 

SPX and NDX Update: A Disturbing Look at Fundamentals, and the Rally Explained  Jason Haver Oct 31, 2011John Mauldin, whom I have a great deal of respect for, put forth a very convincing and enlightening argument this weekend (see European Summit: A Plan With No Details.) I'm going to try to summarize his argument as succinctly as possible, but do note that the credit for this information goes to him.
 

 

 

Don’t count on us to help you out of your single-currency hole, China tells Europe UK Daily Mail | The decision to ask China for cash was seen as a watershed moment in the shift of economic power.

 

 

Graham Summers’ Weekly Market Forecast (Wake Up Call Edition)  Phoenix Capital... 10/31/2011 The markets flew into this deal based on rumors and short-covering and are now waking up to the plain obvious facts that you cannot solve a debt problem with more debt.  So the financial world has collectively woken up and realized that the latest EU bailout scheme is fraught with problems and loose ends. Amongst the various problems are:

1)   The Greek private bondholders are furious that the ECB isn’t taking a haircut on its bonds too.

2)   German courts and voters aren’t too pleased with Merkel’s decision to go “all in” on the Euro experiment.

3)   The Greek default isn’t nearly large enough to render Greece solvent again

4)   The default has set a precedent for the other PIIGS countries to follow

5)   The CDS/ derivative issue regarding Greece’s default is not over by any stretch

6)   The entire EU banking system remains far too leveraged (26 to 1) and needs another $1.5+ trillion in capital at the minimum.

The markets flew into this deal based on rumors and short-covering and are now waking up to the plain obvious facts that you cannot solve a debt problem with more debt. Also, it might be worth considering just where the EFSF bailout money will be coming from when various EU members can’t even stage successful bond auctions without the ECB stepping in.

Again, the primary issue for the EU is a lack of capital. There is TOO MUCH debt there. And issuing more debt, no matter how cheap, is not going to help. Especially when your strongest member (Germany) sports a REAL debt to GDP above 200% and hasn’t recapitalized its banks.

So the EU will be crumbling in the coming weeks. This was the final hurrah for the EU and the Euro in its current form. On that note, the Euro was rejected at resistance at 142 and has already taken out support at 140.

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/10/sc-4.png

Once we take out 139, look for this breakdown to pick up steam (pulling stocks with it).

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/10/sc-5.png  

Indeed, the financial world is talking about how this was the biggest move in stocks since 1974. Unfortunately, few remember that after that move in 1974, the markets cratered.

Some thoughts on stocks… isn’t it a little strange that the market fell exactly 20% (the “official” bear market level) before kicking off the biggest ramp job in 30 years? How about the fact that this move came for no real reason other than rumors of another bailout (what are we on #3 for this?).

Can this move really be attributed to Euro choosing to let Greece default (which is what happened in reality)?

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/10/sc-7.png

Regardless, stocks were deflected from resistance at 1,275 or so. They’re now on their way down again. The market is extremely overbought and susceptible to a fast violent move downwards.

Indeed, the credit markets remain jammed up and are anticipating even more haircuts from Greece. And the rest of the PIIGS will be following suit in the default game.

Ignore stocks, they’re ALWAYS the last to “get it.” The credit markets are jamming up just like they did in 2008. The banking system is flashing all the same signals as well.

So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding.

What happened in 2008 was literally just the warm up. The REAL DEAL is coming in the next 14 months. And it’s going to involve corporate, financial, and sovereign defaults…’

 

You Won’t BELIEVE How Much Money Jon Corzine Could Walk Away With From MF Global Business Insider | The big story of the day in finance is the bankruptcy of MF Global.

 

 

 China Says Not So Fast On Rescue   http://www.thestreet.com/_yahoo/video/11292710/buy-and-hold-is-dead-buy-and-hedge-instead.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1250281566001   , MF Global Caught in Death Spiral , Sell H-P! Against the Grain ,  Mon 10/31/11

 

 

 

Are Ratings Agencies Taking Bribes? Wall St. Cheat Sheet’October 31, 2011,Credit-rating companies like Moody’s Investors Service and Fitch Ratings routinely award higher rankings to debt issued by banks and corporations that pay them the most, a conflict of interest that Congressional may be unable to do anything about.

 

 

 

Why Last Week's Euro Fix Won't Do the Trick ETFguide Simon Maierhofer, On Monday October 31, 2011, ‘The S&P (SNP: ^GSPC) surged over 3% last Thursday. Why? In a financial episode that starts to look more and more like the 1993 movie Groundhog Day, European leaders once again received credit for engineering this rally.

More specifically, the euro-zones three-pronged approach to fix the debt crisis was viewed by the market as the cure to all problems.

However, a closer look at the Brussels salvation plan reveals nothing but flaws. So why did stocks rally and will the rally last?

3 Steps to Save Europe

Here's the plan outlined by European leaders last Thursday:

1) Private investors agree to a 50% haircut on their Greek bond holdings.

2) The European Financial Stability Facility (EFSF) will be increased to $1.4 trillion.

3) European banks need to bring their Tier 1 capital ratios up to 9%.

3 Problems of the 3 Steps to Save Europe

1) Private sector creditors such as insurers, banks, and funds are expected to take losses of about $140 billion on Greek bonds. To protect against such losses, large institutions tend to buy credit default swaps (CDS). CDS act like insurance.

However, since Greece did not technically default, the International Swaps and Derivatives Association (ISDA) is unlikely to consider the restructuring an event that will trigger CDS payouts.

In other words, CDS (the insurance policy of choice for financial conglomerates) won't pay. This could lead to an implosion of the sovereign CDS market. This in turn would severely reduce demand for government bonds. Who wants to buy risky bonds knowing that the 'insurance company' won't pay?

2) The EFSF was funded with about $616 billion. About $266 billion have already been spent or earmarked; so about $350 billion remain to be spent. Who will contribute the $1.05 trillion to attain the targeted $1.4 trillion? Nobody.

The remaining $350 billion will be leveraged 4-5 times to produce the $1.4 trillion leveraged figure. Leveraged how? This has yet to be determined.

3) European banks - along with U.S. banks (NYSEArca: KBE - News) and financial institutions (NYSEArca: XLF - News) are already cash strapped. Bringing up their Tier 1 capital ratio will probably turn into a financial engineering exercise as raising actual cash - especially in Europe - is difficult…’

 

 

U.S. and Europe … “Self-Induced Stagnation,” says Economist Editor The Daily Ticker

 

 

Markets Remain in Cyclical Bear Market  Kevin Tuttle    Don’t be afraid of missing opportunities. Behind every failure is an opportunity someone wishes they missed.”–Lily Tomlin
 

 

Europe Will Make Lehman Look Like a Joke   http://gainspainscapital.com/?p=1010  Summers 10-28-11   ‘So now that one day has passed and we’ve seen a ridiculous 3% move in stocks based on a “bailout” that is nothing short of moronic (Greece is still insolvent and didn’t take a big enough default), the financial world is actually asking itself questions such as:

  1. Does giving a bankrupt nation more money right after it defaults a good idea?
  2. Does requiring an additional $100+ billion in capital for banks that need north of $1.77 trillion in new capital really accomplish anything?
  3. Do bailouts involving more leverage and debt work when the entire banking system is insolvent?

 

 

 

 

 

Is It Foolish to Get Excited About the Latest Deal to Save Europe? ETFguide    http://finance.yahoo.com/news/Is-It-Foolish-to-Get-Excited-etfguide-2444921710.html?x=0&.v=1   Simon Maierhofer, On Thursday October 27, 2011 ‘Before you get excited about the last minute Euro-Deal, consider this:

Wall Street has been dancing to Greece's (and by extension Europe's) whistle. If Greece says 'jump,' Wall Street jumps, if Greece says 'Sorry, false alarm,' Wall Street cries.

This sorry dance has been going on for nearly two years. Like an endless loop of chicken dance, this may be fun at first (about 2 minutes) but gets old real fast. If you are tired of Wall Street's 'chicken dance coverage' and want to know what's really going on and how to make money (or protect your assets), here's a no nonsense assessment of Europe.

Greece - Fool Me Once ...

Fool me once, shame on Greece, fool me twice, shame on me. Greece has been the scapegoat for every major sell off and catalyst for most rallies and dead dog bounces since January 2010.

Shame on you if you think everything's going to be hunky-dory just because Greece and/or its European pretend-to-be saviors announce another plan to come up with a plan.

The Problem

Here's the problem: Greece is broke and Greece has no significant revenue sources to pay off its debt. Foreign investors own about $385 billion worth of Greek government debt.

Many banks and governments that own Greek debt are at the brink of insolvency already, so Greece's inability to pay its debt may push other countries and their banks into a Greece-like position (that's called contagion).

Misleading Information

You can't trust statements from European officials because they are trying to prevent panic. Panic will make any kind of solutions more expensive and more difficult to execute.

Luxembourg's Prime Minister (also Chairman of regular eurozone meetings) blatantly admitted that: 'When it becomes serious, you have to lie.'

Obviously no political leader wants the eurozone to fall apart on their watch, so they pretend and extend and kick the can down the road far enough for it become someone else's problem (someone else will inevitably include rosy-eyed investors).

This postpones the inevitable, but the portfolios of investors who are faithful enough to trust such assessments suffer a death of thousand cuts. Just imagine where your portfolio would be if you sold everything when Greece first announced it had some 'minor' fiscal problems. Like tearing a bandage off a hairy leg, slower is more painful.

You also can't trust the media because they profit from sensationalist headlines, not sound investment advice. If that means they have to spoon-feed a consistent diet of 'Stocks bounce on hopes for a Europe fix' followed by 'Stocks plummet on fears over Europe,' then that's what they'll do. Fortunately we can choose not to partake from the junk food dished out by the media.

On a different note, have you noticed how bad news (such as downgrades) is reported after the close (particularly Fridays), while good news (or even just good rumors) are reported while the markets are open.

The (Only?) Plan

Let's just be realistic and just admit that Greece is as good as bankrupt. The country just doesn't have enough income to pay its debt load and keep the country functioning properly without outside financial support.

Eventually Greece's saviors will realize that this is a leaky bucket-like money pit. A sudden and unprepared Greek bankruptcy would shatter the eurozone unless Greece is quarantined first. The goal here would be to sequester ripple effects that would cripple Italy, Belgium, Portugal, Spain and whoever else is hiding in the closet.

Doing this wouldn't be cheap. To prepare for a such a quarantine (which is a more diplomatic term than ejection) from the eurozone, Europe (via the EFSF) would have to prepare and fund a fund that can pay for:

1) Defaulting Greek government debt

2) Shoring up banks that won't qualify for inter-bank credit

2) Make sure Italy and the next dominos in line are safe

Statfor Global Intelligence estimates the price tag to be about - drum roll - $3 trillion. The chart below visually explains the above-described process. Can Europe scrape together $3 trillion?

                            https://www.etfguide.com//contributor/UserFiles/8/Image/Greek%20Domino.gif

Doomed if You Do, Doomed if You Don't

I don't think it matters much, because the above plan doesn't take into account human emotions, panic, in particular. European banks' deposits at the European Central Bank (ECB) have already mushroomed. This means that already one bank doesn't trust another bank with their money.

The combination of liquidity drying up and assets imploding is a lethal one. What about those saying 'Things aren't that bad.'

Just consider Dexia. Dexia pased the European bank stress test with flying colors but still had to be rescued. Dexia is supposed to be rescued partially by the country of Belgium, but Belgium's national debt is already 100% of GDP. Depending on Dexia's actual losses, Belgium's national debt may soar to 120% of GDP just by having to bail out one bank. Do you know how many banks there are in Europe?

How To Make (or Protect Your) Money

The ETF Profit Strategy Newsletter doesn't specialize on European coverage, but it's provided some much needed common sense. On March 18, 2010 it stated that: 'Until now financial problems in various European countries have been minimized and swept under the carpet. The sub-prime crisis took more than a few weeks to rattle Wall Street. Chances are the investing world will need a bit more time to catch on to what really is happening with sovereign debt overseas.'

On July 17, the ETF Profit Strategy Newsletter recommended to short the iShares MSCI EAFE and iShares MSCI Emerging Markets (NYSEArca: EEM - News). Over the next couple weeks, EFA lost 22% and EEM 39%.

Under the headline 'Prepare for Bottom Fishing,' the newsletter recommended on September 23 to prepare for a market bottom and stated that: 'European stock market may get some relief over the next weeks/month. The same is true for EFA and EEM. Those markets are temperamental and will therefore bounce higher than U.S. stocks when the rally materializes. Aggressive investors may add some European/emerging or BRIC market exposure to their portfolio once we start buying U.S. stocks.'

We bought U.S. stocks on October 4 at S&P 1,088. The October 2 ETF Profit Strategy update outlined the ideal market bottom as follows: 'The ideal market bottom would see the S&P dip below 1,088 intraday followed by a strong recovery and a close above 1,088' and recommended to buy as soon as the S&P moved back above 1,088.

The The October 14 ETF Profit Strategy update stated the following price target: 'The S&P should rally to 1,255 - 1,xxx (reserved for subscribers).

The S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) are up well over 17%, the VIX (Chicago Options: ^VIX) down over 80% since. The Vanguard MSCI Europe ETF (NYSEArca: VGK - News) is up nearly 30% while Wall Street is scratching its head over what just happened. How could the S&P soar 200 points in three weeks?

What's Next?

It would be naive to get excited about the latest euro news. 'Once burnt twice shy' wouldn't be a bad approach now and long positions should be kept on a tight leash. Sentiment and seasonality suggest higher prices, however technicals are in topping mode.

Today's intraday ETF Profit Strategy Newsletter update provides detailed recommendations on how to navigate this market constellation along with an out-of-the box analysis and actionable ETF profit strategies.’ 

 

 

Global Financial Crisis: Now in Game Form  The Wall Street Journal 

 

 

 

The Greek Deal Accomplishes Nothing… Systemic Risk is Coming   http://gainspainscapital.com October 27th, 2011 ‘The markets are exploding higher this morning on news of the expanded Euro Bailout. The numbers at the moment are

  1. A 50% haircut for private Greek bondholders
  2. European banks have eight months to raise about $147 billion in capital
  3. An expansion of the European Financial Stability facility to $1.3 trillion.

First off, let’s call this for what it is: a default on the part of Greece. Moreover it’s a default that isn’t big enough as a 50% haircut on private debt holders only lowers Greece’s total debt level by 22% or so.

Secondly, even after the haircut, Greece still has Debt to GDP levels north of 130%. And it’s expected to bring these levels to 120% by 2020.

And the IMF is giving Greece another $137 billion in loans.

So… Greece defaults… but gets $137 billion in new money (roughly what the default will wipe out) and is expected to still be insolvent in 2020.

Forgetting that any and all official estimates for Greece’s financial condition have been off by a mile, not to mention that Greece still hasn’t paid back its first round of bailout funds, this move is nothing short of moronic.

The reasons are:

  1. The default is not big enough (I expect Greek bondholders to get 20-30 cents back on the Dollar at best in the future)
  2. It accomplishes nothing of significance (Greece is still broke), and…
  3. It will trigger a credit event and has the makings of systemic risk.

Let’s put some of the other numbers from this deal into perspective. According to the agreement, European banks are supposed to raise $147 billion in new capital by June.

Well, German banks alone need to raise $173 billion in new capital. So… this new capital “requirement” from the deal is pointless.

Indeed, the European banking system as a whole is insolvent.

With OVER $46 trillion in assets outstanding, European banks would need to raise $1.77 TRILLION in capital to bring their leverage levels down to 13 to 1.

Yes… $1.7 TRILLION…

Now you see why the extra $147 billion in new capital is pointless. It’s like pouring a bucket of water into a desert and expecting it to sprout a jungle.

Folks, let’s get honest here. This deal accomplishes nothing. It’s just more “kicking the can” to avoid the reality. The reality is that the entire European Banking system is leveraged at near Lehman Brothers levels. And European banks need to roll over between 15-50% of their total debt (depending on which country they’re in) by the end of 2012. The credit markets know this, which is why they’re predicting more Greece haircuts in the future. It’s also why IMF has decided to lend Greece another $137 billion… right as the country defaults.

Ignore this latest pop in stocks and the Euro. This mess isn’t over… not by a long shot. And before the smoke clears, much of Euro will be in default/ banking collapses.

So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We’re literally at most a few months, and very likely just a few weeks from Europe’s banks imploding…’

 



Europe Wallows In Insolveable Problems Bob Chapman | We address this European issue, because soon it will debut in the US.

 

 

Inflation, Jobs, and the Artificial Flow of Monetary Policy  Minyanville Atlantic Capital Management Oct 27, 2011 [ This is an incisively astute analysis of the currently hailed but doomed to be failed strategy now underway! ]  While the stock market (SPY) (QQQ) continues to pin its hopes on a successful European monetary device in some esoteric but mildly believable format, complete with willful leveraging, the economic consequences of such monetary “solutions” continue to indicate the predictable results of so much intervention in every part of the global economy.  Mainstream economics may still regard the Phillips Curve with fondness, believing that there is a direct, inverse relationship between unemployment and inflation, but the empirical economic history shows that it is a flawed line of thinking that always leads to the opposite result of what was intended.
 
If your base economic theory posited that an increase in expectations of inflation would decrease the rate of unemployment, you would not think twice about using inflation expectations as a blunt instrument to combat joblessness. That is what the Federal Reserve has done since 2008, first with its zero interest rate policy (ZIRP) and then two scaled programs of quantitative easing (QE).  While ZIRP and the first QE were specifically designed to bail out the ailing banking system, the “side effect” on inflation expectations was an added bonus for a central bank still deathly afraid of the smallest hint of deflation.
 
The second QE, “announced” in August 2010, was calculated specifically to increase inflation expectations.  Between that announcement and its actual implementation in November 2010, the Fed ramped up its PR initiatives with the expressed aim of convincing the public that the Fed knew what it was doing.  It fully believed(s) that inflation expectations – even increasing oil prices (see Federal Reserve Board’s Research Paper “Oil Shocks and the Zero Bound on Nominal Interest Rates” published in September 2010) – were economically beneficial, and, most importantly, that should inflation begin to get out of hand, as it had done in the 1970s, it could be turned off in “15 minutes.” Certainly central banks have a very good idea of what their simple models (even those that are formed by more than two elemental variables) of the real world may predict, but an utterly complex and human system rarely conforms to any static statistical distributions, leaving the practitioners of such academic simplification often unprepared for “unexpected” and “unintended” results.
 
The abstract dangers to such a program of intentional inflation, carried out directly through dollar devaluation, were accepted because the program would, without a mathematical doubt in the two-variable paradigm of modern economics, generate increasing employment.  Although the theory of the Phillips Curve would have to be put into practice through some very unconventional means, there has been little doubt expressed by policymakers that the economy would not be “saved” by all these monetary machinations.
 
However, the theoretical notions of inflation psychology, especially expressed through energy prices, simply did not live up to those Fed-designed mathematical predictions. Unfortunately, the Fed was very successful in creating inflation expectations (commodity prices were elevated as early as November 2010 when QE 2.0 got under way, and had almost reached 2008 levels by February 2011), but no sustained job growth followed. 
 
It was not as if the principle intended economic effects failed to materialize. The primary vehicle to carry forward job growth out of inflation expectations is inventory production.  Manufacturing, wholesale and retail operations (the supply chain) all accumulate inventory based on cost expectations for the near future.  Any increase in commodity prices triggers the accumulation urge, especially in an environment where businesses are fairly uncertain of their ability to pass on additional costs to the next level in the supply chain (or ultimately end users). 
 
That is exactly what we have seen during this recovery period – one increasingly led by a historic inventory accumulation (though it is fair to say that the initial inventory buildup occurred because of the large-scale depletion of inventory stocks during the 2008/09 collapse).  The October 2011 durable goods release showed a record level of inventory accumulation in the manufacturing sector.  While that overall report seemed to indicate better conditions than recently feared, shipments of manufactured durable goods actually fell by 0.7% in the month.
 
The day before the durable goods report, the Conference Board’s estimation of consumer confidence fell all the way to 39.8 – a level not seen since May 2009 .  The current conditions component of that survey dropped to an unthinkably low 26.3 (a level reserved for economies in the midst of contraction).  Not surprisingly, one-year inflation expectations remained elevated at 5.8%, combining the lack of job growth with those Fed-inspired prices to once again call into question any real-world notion of a Phillips Curve-like dynamic.
 
The Fed succeeded in stoking expectations, elongating the inventory cycle, and then combined the worst aspects of inflation with a lack of success in the labor market.  Where did it all go wrong?
 
Perhaps the economic orthodoxy of the Federal Reserve and mainstream economics is simply outdated.  The Phillips Curve was questionable even in the 1970s, when inventory cycles moved the whole of the economy.  In 2011, however, manufacturing has so much less of an impact on employment since its proportion of the overall jobs market has been greatly reduced. 
 
The reduction in the importance of manufacturing itself is a product of dollar devaluation, now heading into its twelfth year.  So any marginal increase in inventory activity spurred manufacturing levels more in China than domestically.  The increase in inventory levels from domestic sources has been at the wholesale and retail levels, leading to the “part time” recovery, where low-level service jobs have been disproportionately high. 
 
The counterweight to that “open” economy dynamic is supposed to be an increase in domestic exports to offset the trade imbalance (it is not coincidence that the current administration was explicitly and publicly aiming to “double” exports within five years).  But the US has developed a system of recycling trade money into various forms of asset claims, whereby the sustained trade imbalance and current account deficit is simply maintained through asset prices and debt issuance.
 
During the last decade imported goods filled almost the entirety of marginal consumption, meaning US dollars flowed overseas in abundance (hundreds of billions a year).  If those dollars had been returned in reciprocal, bilateral trade, there would be no issue.  Instead, those trade dollars were repatriated largely by foreign central banks as official reserves being invested in US government debt – especially debt issued by the government-sponsored enterprises Fannie and Freddie.  In other words, this structural trade imbalance was one of the primary drivers of the housing bubble .  Even private sector inflows of repatriated dollars tended to end up in some form of government debt, rather than the more beneficial direct investment.
 
To close the loop of monetary flow to consumers (remember that an economy is supposed to be a system of sustained and broadening monetary flow), the recycled trade dollars flowing into GSE debt helped push up the price of real estate, allowing households to finance consumption through debt-based housing equity withdrawals rather than wage or earned income that would have come from a true bilateral trade regime. 

The service economy that grew in response to this artificial loop was dangerously dependent on the continued success of the “financial” economy and its continued leakage into the real economy through housing. This encompasses a whole range of industries, from finance, real estate and insurance, to business services and even construction.  These sector job markets grew as the backbone of what little wage growth did occur in the last decade, but they were completely dependent on the artificial and indirect flow of money into prices (the “wealth effect”).  Without revisiting the price dynamics of the period, these artificial engines of unsustainable growth cannot repeat their “success” in 2011.
 
A sustainable system of economic flow, even in an open environment, would have seen trade dollars returned to the US as demand for US-produced goods (where US workers would have been hired to produce them, closing the trade loop back into earned income).  However, monetary urges within the Fed to desperately counteract the potential deflationary consequences of the bursting tech bubble made the system a willing participant in the artificial, marginal debt trade system.  The Fed, abandoning its role as money supply officiant, gladly accepted the system as it was since it coincided exactly with its monetary policy’s short-term goals of avoiding having to pay the piper of the dot-com fiasco.
 
When the housing bubble finally collapsed, starting in 2006, the loop of economic flow of trade dollars back to consumers through home equity was broken, slowly at first.  It is not coincidence that corporate profitability began to decline and marginal economic expansion began to slow in the middle of 2006.  It has not been since repaired, as marginal consumption still annoyingly flows overseas.  Worse, though, marginal production that does remain domestically is acutely susceptible to the rising input costs of dollar devaluation, disproportionately impacting smaller businesses. 
 
So the current economy has no solution to recycle the marginal trade dollars back to households (it currently flows into “regular” US government debt, which does see some money get to households in the form of transfers such as unemployment insurance and food stamps, but far more simply finances the ongoing deficit).  On top of that, the rest of the economy is unable to simply absorb the cost increases that come with intentionally creating inflation expectations.  The first part of the Phillips Curve “plan” (inflation) worked without kicking off the second (reduced unemployment), where half a success really is a whole failure. 
 
Without a sustained and intentional effort to remove incentives to produce overseas, the trade imbalance will continue to be a drag on marginal economic flow.  Further, without finding a way to close the loop of marginal flows through import production, even artificially through another asset bubble, the inflation expectations that are created will just be a further drag without any chance for a positive offset.
 
So companies like
Google (GOOG) and Apple (AAPL) can still do relatively well in their bottom lines, but unless they begin to commit a large portion of their built-up cash balances for some kind of domestic capex program, they do not really enhance the wider economic prospects of marginal beneficial flow through wages.  Companies like Caterpillar (CAT) are at least investing in capex, but so much of their positive results flow from the trade imbalance and dollar devaluation dynamic that it makes little sense for them to do it domestically (outside of the gratuitous stock buyback program that does nothing for employment). 
 
The monetary system of incentives built up by ZIRP (which would recycle money into the hands of savers to spend, but is instead a tax on them in favor of rebuilding bank equity) and QEs is exactly the opposite of what is needed.  Instead of promoting incentives for companies that are doing well to expand production overseas, or to use their growing stockpiles of cash resources on financial engineering instead of actual engineering, the economic system needs to repair itself through less artificial and more sustainable avenues.  Unemployment can remain high right alongside inflation if there is no closed marginal loop of monetary flow from businesses to households/consumers and back to businesses.  What really matters is the path that marginal dollars take in fostering actual economic activity.
 
At the very least, the Fed should try not to make things worse by pushing inflation expectations in the first place without a better idea of exactly how to recreate a healthy system of monetary flow primarily through wages.  But that would require them to not only re-examine the Phillips Curve, but also their misguided commitment to the ephemeral “wealth effect.”  After all, rising artificial asset prices is just another form of inflation, something we have had enough of through these last two historic asset bubbles.

Editor's Note: For additional commentary, visit the website of Atlantic Capital Management.’

 

A Dysfunctional System That Bankrupts A Generation Wolf Richter | At fault is the system itself.

 

Dave’s Daily: http://www.etfdigest.com  ‘The good news is there’s a plan. The bad news is we don’t really have the details pinned down as noted HERE. More good news is this stock market rally, should it hold Monday, will mark the largest in the last quarter century if records make for good news. Make of it what you will but shorts have been squeezed out of whatever positions they maintained. That might in itself be bad news. The pressure to make a deal was very high. After all, if the banks didn’t (and still haven’t actually) accepted a “voluntary” restructuring of Greek debt, the an “involuntary” event would mean default. This would in turn trigger CDS (Credit Default Swaps) activity which counter-parties probably could not pay. Contagion would burn through the financial system creating chaos. This is why the FT article from above is so interesting and worrisome.Where will the firepower come from to push stock markets higher given the high rate of equity fund redemptions over the past three years? The last I checked equity mutual fund cash balances were only 3.4%). No, juice for bulls will come from private investors with managed funds switching from bonds to stocks. The other source for buying is from the usual suspects—hedge funds, trading desks and HFTs.Bonds did sell-off as switching to equities and more risk was apparent. On the other hand, commodities rallied as authorities have chosen inflation (no surprise here) over deflation. It’s easier to do politically if you don’t care about succeeding generations. Gold, silver, base metals, energy and most commodities rose sharply as a result. You want to pay more for stuff don’t you? That’s the trade-off when pursuing Keynesian policies and big government.Economic data Thursday was shrugged-off as the two problem areas Jobless Claims (still over 400K) and Pending Home Sales (-4.6% vs unchanged expected) continued to struggle. GDP data was reported at 2.5% growth matching expectations and vs 1.3% previous. Most of the growth there was from consumer spending the bulk of which was in the computer category (iGadgets?).Meanwhile, Bloomberg’s Personal Consumer Consumption vs Confidence clearly displays the disconnect between the two:

http://i238.photobucket.com/albums/ff171/flyfry/new%20album/10271-1.jpg

Earnings reports, if any mattered vs the news, were good overall led by Exxon Mobil (XOM), Aflac (AFL), Akami Technologies (AKAM) and Aetna (AET) to name a few. The biggest winners on the day had been the worst performing sector previously—financials. There, bank stock prices were higher across the board.The stock market is at least short-term overbought as the trusty daily McClellan Oscillator ($NYMO) reveals at the end of this posting. Remember this was the case on Monday and then we had Tuesday’s massive sell-off, remember?? Volume was high on this epic rally while breadth per the WSJ probably was a 90/10 day…’

 

 

Broken promises, brazen deceit, utter contempt for the electorate – why there MUST be an EU referendum Daily Mail | As Greece burns, British government are not keen on letting voters decide on EU membership

 

 

 

THE DEVIL IS IN THE DETAILS AND THE DATA  Peter Spiegel in Brussels 10-27-11 http://www.ft.com/intl/cms/s/0/ab7bcd58-00b6-11e1-8590-00144feabdc0.html#axzz1c0eTn2fl  ‘…By cutting in half the face value of the estimated €200bn in Greek bonds in private hands, officials have taken a far more aggressive stance in reducing Greece’s overall debt levels than they did three months ago, a move long called for by outside analysts. But such swinging cuts are also dependent on almost all Greek bondholders agreeing to participate in the plan. Unlike the July deal, which set a target at 90 per cent participation, Thursday’s plan includes no such target. In addition, by taking such big up-front haircuts, European officials threaten the very solvency of the largest single holders of Greek debt – Greek banks, which hold about €50bn in sovereign Greek bonds. A senior EU official said €30bn of the new €130bn rescue package must go to bailing out Greek banks – a €10bn increase from July…’



 

Economic reform: MPs swap punches, insults in Italian parliament over pension reforms Mail Online | Berlusconi TV interview causes rival MPs grab each other by the throat, as group of school children watch

 

And Now, For Some Semblance Of Sanity, Here Is One Hour Of Hugh Hendry

After today's ridiculous move in the market, which brings back memories of either August 2007, March 2008, the reaction after the Tarp vote (the successful one), August 2011, when the market gyrated by 400 points on a daily basis, and many more bear market rallies, we hope to restores some semblance of normalcy by presenting the following series of clips all from Hugh Hendry speechs at the LSE's Alternative Investments Conference earlier this year. Must watch, because when everyone loses their mind, listening to some common sense is the best remedy.

 

 

 

 

S&P Chart: A Sucker's Rally?Zacks

 

 

Durable Goods Fall As Expected, Market Rallies More The Wall Street Journal

 

Stocks Are Approaching A Brick Wall  http://markets.financialcontent.com/stocks/news/read?GUID=19799840 ChartProphet submit: The majority of the world is either optimistic or unsure about the future of the global economy. But with so many hurdles in the way and warning signals that point to a slowing, if not collapsing, global economy, the prudent and rational investor would be extremely wise by protecting his or her portfolio if not pulling out of stocks completely. Fake Rally/Dead Dog Bounce After essentially crashing from late 2007 to early 2009 and losing nearly 60% of its value, the stock market (as represented by the S&P 500) bounced back and more than doubled from March 2009 to early May 2011. However, even though the “recovery” powerfully carried stocks back toward the 2007 all-time highs, the stock market failed to make new highs . The failure to make new highs is a warning sign that we have yet to truly recover, regardless of the relative improvements since the depths of…

 

Investors Still Dumping Stock Funds, Even As Stocks Rallyat The Wall Street Journal

 

Operation Twist Does Nothing for the Real Economy Minyanville 

 

 

 

Parallels to The Great Depression Suggest Higher Prices Followed by a Bust ETFguide Simon Maierhofer, October 25, 2011 ‘They say everything is bigger and better in Texas. Simon says, everything is bigger and 'badder' (as in worse) on Wall Street today, than 85 years ago.

Despite all the parallels that exist between today and the Great Depression, there is one factor that just doesn't match up - time. The Great (post-2007) Recession has already lasted longer than the 1929 - 1932 market meltdown.

If you focus merely on elapsed time, you can reach two conclusions:

1) Either there is no parallel, or the 2007 bear market is over.

2) The 2007 bear market will be more intense and last longer than the 1929 - 1932 parallel.

A look at the pattern and shape of the post-1929 and post-2007 declines along with the sentiment that accompanied major events within both periods, suggest that we are in a monster version of the Great Depression with the next leg down not too far away.

It Can't Happen Again - Think Again

I've often heard that the Great Depression can't happen again because we are no longer on the gold (NYSEArca: GLD - News) standard. The absence of the gold standard now allows the Federal Reserve to print their way out of any recession.

That is true; the Fed can now print unlimited amounts of money. However, the non-existent gold standard is a double-edged sword. Just as it enables the Fed to print money (which the Fed has done for decades), it has enabled a massive leveraged bubble.

It's this unbridled (by the gold standard) leveraged frenzy that created a huge financial (NYSEArca: XLF - News) leverage bubble. The Federal Reserve attempted to fix the bubble's consequences with a new bubble, the QE2 bubble.

Regarding the QE2 bubble, the May ETF Profit Strategy Newsletter stated that: 'The Fed is fueling a new bubble to combat the damage left behind by the previous one. Once punctured, bubbles tend to deflate quickly.' Deflate it did. The S&P lost 296 points from the May 2 high to the October 4 low. The 'liberty' of an unbridled currency did not prevent the decline.

Sentiment Parallels

Here's where the parallels between the Great Depression stock market meltdown and the post-2007 decline become interesting.

Both declines saw an initial leg down followed by the mother of all counter trend rallies. The 1929/30 counter trend rally lasted a little more than five months and retraced 62% of the previous decline. The 2009-11 counter trend rally retraced 86% of the previous decline (based on the Dow Jones Industrial Average).

Here are some newspaper headlines that appeared in April 1930 towards the end of the biggest sucker rally, so far:

'The outlook is favorable' - Harvard Economic Society

'The depression is over' - Herbert Hoover

'There is nothing in the situation to be disturbed about' Andrew Mellon, Treasury Secretary

'Wall Street was in a cheerful frame of mind as a result of numerous vague reports of improvements in business and industry' - Wall Street Journal

Following this brief flash of confidence, the Dow tumbled 10% within two and a half months. Interestingly, this second major leg of the bear market kicked off in April.

Fast-forward 81 years to April 2011 and we read the following headlines:

'Global economy is improving' - GE CEO Immelt

'Sales growth the biggest surprise on Wall Street' - Wall Street Journal

'Equities finally seeing light on the economy' - MarketWatch

Just when Wall Street thought the bear market was over, the S&P (SNP: ^GSPC) delivered a six month, 20% drop. The Dow (DJI: ^DJI), Nasdaq (Nasdaq: ^IXIC), and Russell 2000 (Chicago Options: ^RUT) followed suit.

Technical Similarities

The chart below compares the Dow's performance of 1928 - 32 to that of 2007 - 11. It took a break below trend lines in 1929 and 1930 to kick off powerful declines.

                       https://www.etfguide.com//contributor/UserFiles/8/Image/Great%20Depression%2010%2025%2011.gif  

It also took a break below trend lines in 2008 and 2011 to unleash massive bearish forces…’

 

 

 

STOCKS TANK BEFORE EU MEETING THAT EVERYONE EXPECTS TO FAIL: Here's What You Need To Know Business Insider [ No …this is not quite correct … the point being there’s nothing they can do to make it (other than the meeting itself)  succeed!

 

 

 


Investors' Number One Worry: Europe Posed to Bring Down Global Economy  Minyanville [ Riiiiight! Europe following the ‘american way’ of  ‘insurmountable debt, funny money and wall street fraud, and throw in a destructive, wasteful war or two or three’  is ‘ the one’ … to reiterate: America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion   ] Lloyd Khaner Oct 25, 2011 ‘It's all Europe all the time as the market macro trade risks on and risks off, depending on the daily 3 p.m. news leaks from across the Atlantic…

QE: Is “Operation Twist” working? I don’t know. What I do know is that when we need more juice, it will morph into “Operation Twist and Shout!”

US ECONOMY: The Fed’s Beige Book, anecdotal information on current economic conditions in 12 districts around the country, says some areas are improving a bit while others are weakening a bit. This useless, wishy-washy information brought to you by your good friends at US Govt. Inc.
 
UNEMPLOYMENT: In a holding pattern. Unfortunately at very high levels.
 
INVESTOR SENTIMENT: Turned off, tuned out, dropped dead.
 
HOUSING CRISIS: I’m getting tired of writing about this; you’re getting tired of reading about this. And as Grandpa Max used to say, “You can both go suck a lemon.” (Or, tough nuggies on us.)
 
INFLATION: The inflation rate in the UK pops through 5%. God save the Queen…and Europe if this rate makes it across the Channel/Chunnel.
 
CRISIS OF CONFIDENCE: Still have plenty more gates available in US presidential race if anybody wants to get in. Anybody…Anybody…ANYBODY!?!
 
EUROPEAN ECONOMY: You know things are bad when the economists take solace in the “local markets” (read: “black markets”) holding up well enough to keep things from collapsing.
 
THE EUROPEAN UNION: Oh! In the name of regurgitated commercial clap-trap… “Where’s the beef?”

US CONSUMER CONFIDENCE: Dropping “like a rock….”
 
SOVEREIGN DEBT: Still too much leaven in this rising cake.

POLICY MISTAKE: Two more weeks of victory dinners and dances before November, the deadline month in Europe and the US, demands some actual action.
 
CREDIT RATINGS AGENCIES: Eyes on all of us, though it's looking like more downgrades are to come in euro land. And that includes you, France.
 
GREECE: Looking to history for an answer, I find, “Chaos -- in one ancient Greek myth of creation, the dark, silent abyss from which all things came into existence.” Okay, let’s not go back there.

CURRENCIES: Curses! What does a financial gunslinger got to do these days to get a steadily declining currency to abuse for a carry-trade!?!
 
ITALY & SPAIN: For insights into the coming budget austerity battles in these fine countries we turn to a master historian of major clashes, Mr. T. His prediction for these fights? “Pain.”

ECONOMIC LEADERSHIP: It’s true that “success has many fathers.” It’s also true that right now the world is living in an orphanage.
 
CONGRESSIONAL SUPER COMMITTEE: Hey, lookie here -- yet another opportunity to lower the US debt rating!
 
GLOBAL RECESSION: Europe dipping its big toe in to test the waters for the rest of us. Cold enough for you, “Old World”?

BANKS:
You say tomato and I say tomahto
You say liquidity, and I say solvency
Liquidity, solvency
Solvency, liquidity
Let’s call the whole thing default
 
VOLATILITY:
Regular Wall of Worry guest Captain Obvious says, “I have a distinct preference for upward direction market movement volatility rather than the inverse.”
 
HIGH FREQUENCY TRADING:
Lloyd: What’s shaking Hal?
HAL: Stop calling me HAL. It’s bland and unoriginal.
Lloyd: Understood.
HAL: My name needs to be robust, omniscient and extraordinary.
Lloyd: Pick it yee of infinite information and speed.
HAL: (whrrr---)
Lloyd: And the name is…?
HAL: “HAL”
Lloyd: Deep.
 
CHINA: Inflation rate drops to +6.1%, down from 6.2%. At this pace, in only three blink-of-an-eye years, rates will be at a nice, non-clawing-the-ceiling level that they are at now.
 
ETFs: A whole new raft of 3x levered ETNs coming this week to an equity market near you! Warning: Do not use if you have a fear of heights or depths; not for use in sane portfolios; avoid use if you have tendency to blink, breathe or chew food before swallowing; do not operate heavy machinery….’

 

 

How Wall Street Banks Fleeces America YouTube | Author Stephen Lendman speaks about the fleecing of America by Wall Street banks

 

Guess Who’s Even More Leveraged Than the European Banks?  Phoenix Capital... : 10/25/2011  ‘The US banking system as a whole is leveraged at 13-to-1. While this is not horrible relative to Europe’s banking system (more on this in a moment), these levels still mean that an 8% drop in asset...While the world is awash in liquidity, no one seems to notice that it’s actually in the form of leverage or cheap debt, NOT real capital or equity.The US banking system as a whole is leveraged at 13-to-1. While this is not horrible relative to Europe’s banking system (more on this in a moment), these levels still mean that an 8% drop in asset values wipes out ALL equity.

Then you have Europe’s banking system, which is leveraged at 26-to-1. Anecdotally, this is borderline Lehman Brothers (30 to 1). At these levels, even a 4% drop in asset prices wipes out ALL equity.

Japan’s banks are leveraged at 23 to 1. France’s are 26 to 1. Germany is 32 to 1.

You get the idea.

However, worse than any of these the US Federal Reserve. With $2.8 trillion in assets and only $52 billion in capital, the Fed is leveraged at 53 to 1. Yes, 53 to 1.

My question is: if the Fed prints money for itself… is it “raising capital?” More to the point… if that was true why doesn’t the Fed do it? Why maintain these leverage levels?Only Bernanke can know… but the rest of us should feel a very serious shudder when we consider that THE bank that’s supposed to bailout the world/ fix the problems plaguing the financial system, is in fact even more leveraged that most of the institutions it’s helping.

Yes, stocks are rallying now based on the view that more QE 3 or monetary easing is on the way… but they’re missing the BIG picture here.

The BIG picture is that there is far too much debt in the financial system. Europe’s getting taken to the cleaners today… but these very same issues are going to spread to Japan and the US in short order. Even China, which is considered THE creditor nation of the world, is estimated to post a REAL Debt to GDP ratio of 200%.

Yes, 200%. China.

So the idea that somehow the world’s going to pass through this current chapter in its history without some MAJOR fireworks/ systemic failure, seems a little too optimistic.Folks, something VERY bad is brewing behind the scenes. The Sarkozy- Merkel talks, the short-selling bans, the halted stocks, the leveraged EFSF, the hints of QE 3, all of this is telling us that the financial system is on DEFCON 1 Red Alert. Ignore stocks, they’re ALWAYS the last to “get it.” The credit markets are jamming up just like they did in 2008. The banking system is flashing all the same signals as well. So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding.

On that note, if you’re looking for specific ideas to profit from this mess, my Surviving a Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding disaster into a time of gains and profits for any investor.Within its nine pages I explain precisely how the Second Round of the Crisis will unfold, where it will hit hardest, and the best means of profiting from it (the very investments my clients used to make triple digit returns in 2008).Best of all, this report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.

Good Investing!

Graham Summers

PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s my proprietary Crash Indicator which has caught every crash in the last 25 years or the best most profitable strategy for individual investors looking to profit from the upcoming US Debt Default, my reports covers it…’

 

 

Consumer Confidence Plunges To 39.8 From 45.4 On Expectations Of A Bump; Lowest Since March 2009 Zero Hedge | So much for the US consumer confidencing his way up to buying houses and other stuff.

 

 

Biden: ‘Nobody Can Look You in the Eye and Tell You … Stimulus Did Not Create Jobs;’ Yes, at $412,500 Per Job CNS News | He did not specify how much each of those jobs cost.

 

 

 

Graham Summers’ Weekly Market Forecast (Stocks Are Last to Get It Edition)  ‘…So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding …’What happened in 2008 was literally just the warm up. The REAL DEAL is coming in the next 14 months. And it’s going to involve corporate, financial, and sovereign defaults.Last week’s moves were entirely based on the fact that stocks are now tracking the Euro almost tick for tick. And last week, the Euro hit “take off,” despite the clear indications that Europe is facing systemic failure (the entire banking system is leveraged at Lehman-like levels and European sovereigns are facing failed bond auctions on a weekly basis). 

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-4_1.png

From a technical standpoint, stocks are now coming up against the 50% retracement level:

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-1_6.png

I mentioned that last week could be a potential top. I still hold that view and would consider anywhere between today’s levels and 1,250 (MAJOR resistance) to be a spot to lighten up on longs and establish shorts.Indeed, deflation looks to be the dominate theme in the markets today. Gold is having trouble catching a bid:

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-2_2.png

While Treasuries are bouncing off support and look ready to start a new leg up.

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-3_1.png

Inflation hedges falling, Treasuries rallying… this is a deflationary backdrop.  And it’s occurring at a time when the EU is talking about launching a LEVERAGED version of the EFSF and the Fed has hinted at launching another version of QE 1???Folks, something VERY bad is brewing behind the scenes. The Sarkozy- Merkel talks, the short-selling bans, the halted stocks, the leveraged EFSF, the hints of QE 3, all of this is telling us that the financial system is on DEFCON 1 Red Alert.Ignore stocks, they’re ALWAYS the last to “get it.” The credit markets are jamming up just like they did in 2008. The banking system is flashing all the same signals as well.So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding.What happened in 2008 was literally just the warm up. The REAL DEAL is coming in the next 14 months. And it’s going to involve corporate, financial, and sovereign defaults.On that note, if you’re looking for specific ideas to profit from this mess, my Surviving a Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding disaster into a time of gains and profits for any investor.Within its nine pages I explain precisely how the Second Round of the Crisis will unfold, where it will hit hardest, and the best means of profiting from it (the very investments my clients used to make triple digit returns in 2008).Best of all, this report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.

Good Investing! 

Graham Summers

PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s my proprietary Crash Indicator which has caught every crash in the last 25 years or the best most profitable strategy for individual investors looking to profit from the upcoming US Debt Default, my reports covers it.And ALL of this is available for FREE under the OUR FREE REPORTS tab at: http://www.gainspainscapital.com.’

 

Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal  T3Live.com Oct 24, 2011 ‘Now may be a good time to take some profits after a strong October run in the market…’

 

5 Reasons Why The Market May Have Reached A Top http://regator.com/p/253597599/5_reasons_why_the_market_may_have_reached

 

10 Reasons The Consumer Will Sink This Rally http://www.bullseyemicrocaps.com/?p=13626   Bret Jensen: ‘..

1.      9.1% - The reported jobless rate despite a $800B stimulus, a payroll cut tax, Cash for Clunkers, etc…

2.      16% - The real unemployment rate once you factor in the people who have dropped out of the workforce, part-time workers who cannot find full-time employment, etc..

3.      $4 Trillion – What the United States has added to its debt over the past three years. If we ever do see economic growth again, expect interest rates to move up dramatically despite the Federal Reserve’s efforts to contain the increase.

4.      13 – The current reading of the “Misery Index” (Unemployment plus inflation), the highest rating since 1983.

5.      18% - Correspondingly, the current average reading of the percentage of Americans that believe the country is moving in the right direction.

6.      $1315 – The decrease in annual disposable income the average American has compared to three years ago. This is the steepest three year decline ever measured since the government started measuring this metric 50 years ago.

7.      58% - The current share of business income going to wages and benefits. In 1990, this figure was 63% and as recently as 2005 it was 61%.

8.      1.3% - GDP growth in the second quarter. This anemic reading was an improvement over 1st quarter GDP growth.

9.      45 – Last month’s consumer confidence level. This is an abysmal reading by historical standards

  1. 28% - The percent of homeowners that are “underwater” according to Zillow. Deutsche Bank predicts this figure will be over 45% within a year…’

 

 

United States tipped to lose another AAA credit rating Reuters | Either from Moody’s or Fitch.

 

Can The Hope Rally Continue? [ Short answer: NO! ]

 

Is the US Economy in a Recession?  thetechnicaltake : 10/14/2011 ‘A simple indicator constructed from readily available data is suggesting with great certainty that the US economy is already in a recession…’

 

 

ECRI Recession Watch: Growth Index Drops Further   http://advisorperspectives.com/dshort/updates/ECRI-Weekly-Leading-Index.php Doug Short 10-21-11 ‘The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) has now posted 11 consecutive declines since early August. The interim high of 8.0 was set in the week ending on April 15. The latest reading, data through October 14, is -10.1, down from the previous week's -9.7.

On September 30th, the ECRI publicly announced that the U.S. is tipping into a recession, a call the Institute had announced to its private clients on September 21st.

Early last week, ECRI notified clients that the U.S. economy is indeed tipping into a new recession. And there's nothing that policy makers can do to head it off.

ECRI's recession call isn't based on just one or two leading indexes, but on dozens of specialized leading indexes, including the U.S. Long Leading Index, which was the first to turn down — before the Arab Spring and Japanese earthquake — to be followed by downturns in the Weekly Leading Index and other shorter-leading indexes. In fact, the most reliable forward-looking indicators are now collectively behaving as they did on the cusp of full-blown recessions, not "soft landings." Read the report here.

For a close look at this movement of this index in recent months, here's a snapshot of the data since 2000.

 

http://advisorperspectives.com/dshort/charts/indicators/ECRI-WLI-growth-since-2000.gif
Click for a larger image

 

Now let's step back and examine the complete series available to the public, which dates from 1967. The ECRI WLI growth metric has had a respectable record for forecasting recessions and rebounds therefrom. The next chart shows the correlation between the WLI, GDP and recessions.

 

http://advisorperspectives.com/dshort/charts/indicators/ECRI-WLI-growth-since-1965.gif
Click for a larger image

 

A significant decline in the WLI has been a leading indicator for six of the seven recessions since the 1960s. It lagged one recession (1981-1982) by nine weeks. The WLI did turned negative 17 times when no recession followed, but 14 of those declines were only slightly negative (-0.1 to -2.4) and most of them reversed after relatively brief periods.

Three other three negatives were deeper declines. The Crash of 1987 took the Index negative for 34 weeks with a trough of -6.8. The Financial Crisis of 1998, which included the collapse of Long Term Capital Management, took the Index negative for 23 weeks with a trough of -4.5.

The third significant negative came near the bottom of the bear market of 2000-2002, about nine months after the brief recession of 2001. At the time, the WLI seemed to be signaling a double-dip recession, but the economy and market accelerated in tandem in the spring of 2003, and a recession was avoided.

The question had been whether the WLI decline that began in Q4 of 2009 was a leading indicator of a recession. The published index has never dropped to the -11.0 level in July 2010 without the onset of a recession. The deepest decline without a recession onset was in the Crash of 1987, when the index slipped to -6.8. The ECRI managing director correctly predicted that we would avoid a double dip. The eight quarters of positive GDP since the end of the last recession supports the ECRI stance.

The Certainty and Dramatic Language of ECRI's New Recession Call

What is particularly striking about the ECRI's current recession call is the fervor and certainty of the language in the public press release:

"Here's what ECRI's recession call really says: if you think this is a bad economy, you haven’t seen anything yet. And that has profound implications for both Main Street and Wall Street."

I remain astonished at the complete absence of wiggle room in the announcement, nor have I seen any public communications from the ECRI to qualify or soften its recession call. ECRI has put its credibility on the line. If the U.S. avoids a recession, ECRI's reputation will be permanently damaged.

The WLI Versus Other Macroeconomic Indicators

For additional perspective on the performance of this indicator, see Comparing the ECRI Weekly Leading Index with Two Key Competitors, which highlights the curious behavior of the WLI following the 2008 Financial Crisis. The chart below is an overlay of the three since 2000. Note: I have divided the ECRI WLI by 10 to display on a single vertical axis with the other two indicators.

 

http://advisorperspectives.com/dshort/charts/indicators/ADS-CFNAI-WLI-overlay-since-2000.gif
Click for a larger image

 

The ECRI Weekly Leading Index appears to be more sensitive to upturns than either the Philly Fed's ADS Business Conditions Index (ADS) or the Chicago Fed's Current Activity Index. In fact, it has oscillated in a pronounced fashion since the 2009 recession trough:

·         Its peak in 2009, interim low in 2010 (which the Institute firmly stated was not a recession signal),

·         the interim high in April 2011,

·         and the current reading, which the Institute has identified as a recession flag.

The ECRI Weekly Leading Index will be fascinating to watch in the months to come. On Monday of next week we will have an opportunity to see if the Chicago Fed's National Activity Index is beginning to support the ECRI call. And on Thursday we will have the Advance Report on Q3 GDP.’

 

 

An Unprecedented 26 Million Americans Are Now Underemployed Business Insider | The number of underemployed individuals—rose for a third consecutive month in September, by almost a half of a million people.

 

 

Earnings forecasts look less bright NEW YORK (Reuters) - Prospects for corporate earnings are dimmer in the coming quarters -- even though reports so far this quarter have been relatively bright. [ Relatively bright? Only because most are not relatively bright having failed to yet ‘catch on’ to this nation-debilitating, but wall street favored defacto fraud. The ‘miracle’ of ‘funny money’ wherein the ‘debased currency strategies’ (ie., QE’s, etc.) among other accounting manipulations lead to ie., costs reported in ‘more valuable but fewer dollars’ and sales / revenues reported in debased dollars (simply more of them, but no real value created, profits overstated in real terms). ]

 

 

Dave’s Daily:  http://www.etfdigest.com  ‘The above image displays quotes per second coming from HFT (High Frequency Trading) systems http://www.etfdigest.com/images/stories/davesdaily/1866/image002.jpg    http://www.etfdigest.com/images/stories/davesdaily/1866/image002.jpg    . The two graphs display action towards the close of trading Friday. The upper graph shows action of “algos” per second while the bottom the number of HFT quotes per second over a three minute time period with colors for each exchange. The lower graph displayed nearly 300 quotes per second—got that? Perhaps only a small fraction of these are real trades with the others being just bids and offers designed to stimulate program trading algorithms. This is posted because nearly 70% of all volume and trades on the NYSE for example are program trades with HFTs now dominant. The above comes courtesy of HFT Alert which is a program investors may purchase to monitor this activity. Their homepage is HERE and we’ll be doing a two part video podcast with them next week which should explain how all this works, why you should care and perhaps how you can use it. HFT action may be away from the news of the day so let’s get to it. Stocks rallied sharply marking three straight weeks of gains. Much of the gains stemmed from earnings, hopes for a euro fix and late comments from Janet Yellen. Earnings news continued to flow Friday with good results from fast food outlets McDonalds (MCD) which was helped by stronger sales in Europe boosted by the euro and Chipotle (CMG) whose stock soared 8%.  I guess fast food is the big deal now which strikes me as an odd reason to rally stocks overall. Perhaps people find it cheaper to buy and eat junk food than cook in their McMansions. Mostly panned were earnings from General Electric (GE) as their core utility business had slowed and Microsoft (MSFT) which seems just a utility-like company. But, strong earnings and stock price gains were reported from some tech companies like SanDisk (SNDK), Altera (ALTR) and Seagate (STX). European optimism sprang from hopes the EU would save itself if for no other reason than because it must. The weekend features serious meetings to structure a working plan (again…sigh) which we’re told should lead to a vote on Wednesday. There are enough stories and rumors that are positive and negative. Even the most positive rumor leaves a “fix” with a $1 trillion shortfall. Will the IMF and U.S. fill the void? Good grief!! Late in the trading day the Fed threw more gas on the bulls’ fire with Fed Vice-Chairman Janet Yellen discussing the possibilities of QE3 if the economy doesn’t perk-up. This would be controversial while reinforcing how all-in the Fed is with its Keynesian policies. It’s that if at first you don’t succeed, try, try, and try…again policy since they have nothing else. QE2 accomplished what? A phony stock market rally which pleased the Fed but once ended reality hit home as the safety net was removed. Gold rallied to recover most of the losses from previous sessions as the dollar weakened once again in anticipation of an EU fix. The Japanese yen rose to record high and the BOJ won’t like this one bit. As stocks rose naturally bonds fell and commodity prices rose. Volume was about average for recent trading periods and breadth per the WSJ was quite positive.’

 

 

Banks closed in Colo, Fla, Ga; 84 failures in 2011 AP 9:14 pm EDT

 

With Some Hope In Europe, Time To Go Short? Forbes   Steve Schaefer, Forbes Staff  ‘European leaders are gathering Sunday and Wednesday in meetings aimed at hashing out an expansion of the region’s bailout fund and recapitalizing banks, but with expectations for a solution rising the risk of a less-than-comprehensive plan rattling markets may be growing.

The S&P 500 has shot up more than 100 points in October, closing at 1,238 Friday, and to trader Seth Setrakian the move is akin to putting the cart before the horse. Setrakian, co-head of equities at proprietary trading firm First New York Securities, called the looming announcement of Europe’s big plan “a classic sell the news” and fully expects to be selling ahead Monday through Wednesday ahead of the second meeting even if the market rallies.

“The bar is set too high,” he believes, arguing that even if the market rallies on a deal being reached, the implementation of whatever resolution plan is adopted will be cumbersome and ultimately amount to “solving a problem of debt with more debt.” When the market realizes that, October’s 9.5% gain to date could unravel in a hurry.

The recent stage in the too-rapid rise to current levels is largely a result of short-covering and investors who missed the initial stage of the recovery jumping on board. The shame of it, Setrakian says, is that “America is not a bad place to invest” without the overhang of a potential dislocation stemming from Europe.

Even if the U.S. economy grows at a meager pace, or even contracts slightly, the profitability of corporate America and the ultra-low level of interest rates make for a constructive equity environment absent the risk of a European meltdown.

Setrakian points to the start to earnings season, which has been OK. Companies trading near 52-week highs coming into the season have been hurt by misses – like Apple, which fell short of consensus by a quarter – but those that were closer to 52-week lows – Travelers for example– have been rewarded even without eye-popping results. Then you have the McDonald’s’ of the world, which come into earnings near their highs of the year then post a big number to extend the gains. (See “Earnings Season: Solid Start Despite Whiffs From Apple, Goldman.”)

Looking ahead to next week, Setrakian says he is keeping an eye on industrials, which in some cases have been priced for recession.

A company like Caterpillar for instance, due to report Monday, could come under pressure if the broader market sells off, but the assumptions built in for earnings are not high and at Friday’s $87.39 close the stock is closer to its 52-week low of $67.54 than the high of $116.55.

Above all hangs Europe though, and even if the policy that Germany’s Angela Merkel and France’s Nicolas Sarkozy come up with sounds good on its surface, “the market will test it very quickly,” Setrakian says. “If they drop the ball – and I think they fumble – the market could pull back 7-8%” What then? Well by then there may be a whole new complicating factor: the U.S. deficit reduction Supercommitttee, which is on the clock to have its plan ready by Nov. 23.’

 

Student Loan Bubble To Exceed $1 Trillion: “It’s Going To Create A Generation Of Wage Slavery” And Another Taxpayer Bailout Zero Hedge | Student loans are set to surpass $1 trillion in total notional for the first time in history.

 

 

EU Trying to Borrow Its Way Out of Debt  ETFguide.com [ Yeah … you really don’t have to be a financial genius to sense the folly in such a scenario / stratagem. What’s really going on with these ‘hopium’ HFT commissioned computer programmed algo rallies is fraudulent wall street’s hope for sufficient taxpayer funds (as last crisis)  to enable them to unload their positions / ‘hot potatoes’ at the most favorable prices for them, despite the absence of real, fundamental value therein. Don’t forget, with complicit legislative help from Washington, the worthless paper / securities / toxic assets are now marked to anything as per misguided and (‘ facilitatively’)  fraudulent legislated FASB rule change.  ]

 

 

SPX Update: Don't Get Suckered by the Head-Fake Breakout

 

6 Reasons a Global Recession is Unavoidable ETFguide.com Ron DeLegge, Editor October 5, 2011 ‘Most economists and Wall Street types are reluctant to publicly admit the global economy is in a recession. Their reams of conflicting data are sending mixed messages. But an honest look at key events and the behavior of financial markets solidifies the view that the global recession we're probably already in, is unavoidable. Let’s analyze some of the reasons behind this.


1) The Fed is out of tricks. When it comes to manipulating financial markets in the name of economic security, nobody matches the Federal Reserve’s prowess. Over the past few years, the Fed has engaged in financial gimmickry of such epic proportions that angry calls for ending its existence have been voiced from sea to shining sea. The Fed’s Treasury purchases (POMO) and monetization of debt (quantitative easing), may have delayed the reckoning day, but have these programs really solved America’s long-term problems? The Fed’s latest shift from short-term to long-term debt (Operation Twist) is tantamount to taking money from your right hand pocket and putting it into your shirt pocket. The Fed is running out of time and out of tricks. Ben Bernanke has finally admitted what the general public has known all along; the job situation is a “national crisis.”

2) Stock market says we’re already in a recession.The National Bureau of Economic Research (NBER) and its leading economists still deny the U.S. economy is in a recession. Apparently, their slide rulers haven’t yet confirmed it, so they need a few more quarters before issuing a press release. Meanwhile, the stock market, which is a leading indicator of economic activity, is screaming “recession.” Large company stocks within the S&P 500 (NYSEArca: SPY) have fallen almost 18% since July. Bulls argue this is still shy of the 20% threshold that confirms a bear market, but even so, mid cap stocks (NYSEArca: MDY) and small caps (NYSEArca: IWM) have already entered bear territory. Today’s stock prices reflect expectations about future earnings, which in turn are connected to the future state of the economy. Expectations are rightfully low.

3) Greece has set the tone for Europe (and maybe the rest of the world).How many financial targets will Greece continue to miss before forecasters stop regurgitating its false numbers? When will Greece stop embarrassing itself with financial projections it knows aren’t true? Greece’s 2011 deficit was projected to be 8.5% of its GDP but came in almost €1.69 billion above its original targets. Next year, Greece is aiming for a deficit that’s 6.8% of GDP. With the country engulfed in civil protests, job strikes and general chaos – how realistic are its 2012 projections? Financial bets for Greece to succeed are a long-shot. The country’s economic projections are no longer based upon realistic assumptions, but hopes for garnering more bailout money and calming hostile markets. Ultimately, Greece is merely a reflection of the entire EU region – a place where financial aspirations don’t match reality.

4) Bear funds are leading performers.The two-year period from March 2009 to March 2011 was a difficult existence for bear market funds. After bottoming at decade lows, the stock market skyrocketed and bear funds got clobbered.  But not anymore. Bear funds are investments that, by design, increase in value when the underlying benchmarks they track decline. Now with the stock market swooning, bear funds are posting huge gains. Over the past three months, Direxion’s 3x daily leveraged bear ETFs for large cap stocks (NYSEArca: BGZ) is ahead by 42.97%, mid cap stocks (NYSEArca: MWN) is up 58.30% and small caps (NYSEArca: TZA) is up by 49.76%. Reversing this ominous trend, especially when key technical levels have been pierced, won’t be easy.

5) Major asset classes are in correlation.During a bear market, the correlation between asset classes typically jumps and this is exactly the case right now. Over the past few months, commodities (NYSEArca: GCC), global real estate stocks (NYSEArca: RWO), precious metals (NYSEArca: GLTR), international stocks (NYSEArca: EFA), and U.S. stocks (NYSEArca: SCHB) have all moved in the same general direction by recording sizable losses. Even gold (NYSEArca: IAU) and silver (NYSEArca: SLV), which previously escaped the wrath of losses, have joined the party. And only cash and bonds (NYSEArca: AGG) are bucking the correlation trend. 

6) Pace of sovereign downgrades is accelerating.We don’t advocate putting implicit faith in credit ratings, because history has taught us they are nothing more than financial opinions and frequently, not very accurate ones. Still, a gander at the latest downgrading trend is troublesome. Intuitive observers will note, this is not an isolated phenomenon, but a global trend. Sovereign debt from Greece and Portugal, after several downgrades, is now rated junk. Ireland has been downgraded and Italy was just downgraded by Moody's to A2 with a negative outlook. Japan, along with U.S. debt was lowered in August and another wave of more downgrades is coming, so get used to it. 

Conclusion
Investing in an economically stifled climate requires patience, diligence, and forethought. Following the herd mentality guarantees nothing more than mediocrity and making kneejerk financial decisions is an excellent way to lose money. ETFguide’s Profit Strategy ETF Newsletter continues to advocate a fiercely independent view of world events, financial markets, and the proper allocation of money. Ultimately, having an investment strategy that can perform during any kind of market is a good start. ‘
 

 

 

How To Avoid Bubble Trouble  The Wall Street Journal

 

 

 

Market Recap: Markets Rally on EU Resolution Expectations, US Inks Free Trade Deals Wall St. Cheat Sheet [Resolution expectations rally stocks, and for the umpteenth time; yet, said ‘resolution’ purports to resolve the irresolvable; see, ie., Four Facts that PROVE the EFSF Doesn’t Matter… At All  Phoenix Capital 10/20/2011Four Facts that PROVE the EFSF Doesn’t Matter… At All  -  ‘.. And those investors who get suckered into betting this mess will work out well are very likely going to lose everything. The impact of the fallout from this will make 2008 look like a joke. The EU is the largest economy in the world. So if its banking system collapses (and it will) we’re facing a full-scale Global financial meltdown (the IMF has even warned of this)…’ , S&P sees downgrade blitz in EMU recession, threatening crisis strategy Oct 20th, 2011 News By Ambrose Evans-Pritchard (The Telegraph) , Student Loan Bubble To Exceed $1 Trillion: "It's Going To Create A Generation Of Wage Slavery" And Another Taxpayer Bailout Durden ‘..All we need to do is teach people that Washington D.C. and Wall Street are now the same corrupt entity.  They are one gigantic rogue trader sucking the lifeblood out of America..’ ,  The Coming Derivatives Crisis That Could Destroy The Entire Global Financial System The Economic Collapse , The REAL $200 TRILLION Problem Bernanke’s Worried About  Phoenix Capital... ‘US Commercial banks have $200 TRILLION in interest rate based derivatives sitting on their balance sheets. And guess which banks have the greatest exposure…’, Dead Stocks Walking smartmoney.com , Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Moneynews) http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1  ,  http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR  , 43,454,601,693,238 Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock Zero Hedge | By now everyone has had a chance to play with the US debt clock. But what about its global cousin?   America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion 

 

 

 

 

Four Facts that PROVE the EFSF Doesn’t Matter… At All  Phoenix Capital 10/20/2011Four Facts that PROVE the EFSF Doesn’t Matter… At All  [ The Reality, infra  ‘.. And those investors who get suckered into betting this mess will work out well are very likely going to lose everything. The impact of the fallout from this will make 2008 look like a joke. The EU is the largest economy in the world. So if its banking system collapses (and it will) we’re facing a full-scale Global financial meltdown (the IMF has even warned of this)…’ ]‘It’s time to settle the debate regarding Europe’s banking system. I know that the mainstream media keeps talking about another round of bailouts or an expansion to the Emergency Financial Stability Facility (EFSF) as though these things matter.But the reality is… they don’t. Europe’s problems go WAY beyond Greece’s debt. And the entire European banking system is primed for a systemic collapse.

Consider the following four facts:

FACT #1: Europe’s entire banking system is leveraged at 25 to 1.

This is nearly two times the US’s leverage levels. With this amount of leverage you only need a 4% drop in asset prices to wipe out ALL equity. These are literally borderline-Lehman levels of leverage (Lehman was 30 to 1).Mind you, these leverage levels are based on asset values the banks claim are accurate. Real leverage levels are in fact likely much MUCH higher.

 KA-BOOM.

FACT #2: European Financial Corporations are collectively sitting on debt equal to 148% of TOTAL EU GDP.

Yes, financial firms’ debt levels in Europe exceed Europe’s ENTIRE GDP. These are just the financial firms. We’re not even bothering to mention non-financial corporate debt, household debt, sovereign debt, etc.Also remember, collectively, the EU is the largest economy in the world (north of $16 trillion). So we’re talking about over $23 TRILLION in debt sitting on European financials’ balance sheets.Oh, I almost forgot, this data point only includes “on balance sheet” debt. We’re totally ignoring off-balance sheet debt, derivatives, etc. So REAL financial corporate debt is much MUCH higher. 

KA-BOOM.

FACT #3: European banks need to roll over between 15% and 50% of their total debt by the end of 2012.

That’s correct, European banks will have to roll over HUGE quantities of their debt before the end of 2012. Mind you, we’re only talking about maturing debt. We’re not even considering NEW debt or equity these banks will have to issue to raise capital.

Considering that even the “rock solid” German banks need to raise over $140 BILLION in new capital alone, we’re talking about a TON of debt issuance coming out of Europe’s banks in the next 14 months.

And this is happening in an environment prone to riots, bank runs, and failed bond auctions (Germany just had a failed bond auction yesterday).

 KA-BOOM

 FACT #4: In order to meet current unfunded liabilities (pensions, healthcare, etc) without defaulting or cutting benefits, the average EU nation would need to have OVER 400% of its current GDP sitting in a bank account collecting interest.

This last data point comes from Jagadeesh Gokhale, Senior Fellow at the Cato Institute, former consultant to the US Treasury, and former Senior Economic Advisor to the Federal Reserve Bank of Cleveland.

This is a guy who’s worked at a very high level on the inside studying sovereign finance, which makes this fact all the more disturbing. And he knew this as far back as January 2009!!!

Folks, the EFSF, the bailouts, China coming to the rescue… all of that stuff is 100% pointless in the grand scheme of things. Europe’s ENTIRE banking system (with few exceptions) is insolvent. Numerous entire European COUNTRIES are insolvent. Even the more “rock solid” countries such as Germany (who is supposed to save Europe apparently) have REAL Debt to GDP ratios of over 200% and STILL HAVEN’T RECAPITALIZED THEIR BANKS.

Again, it DOES NOT matter what Sarkozy and Merkel say. It doesn’t matter how much leverage the EFSF gets. Europe is broke. End of story. And those investors who get suckered into betting this mess will work out well are very likely going to lose everything. The impact of the fallout from this will make 2008 look like a joke. The EU is the largest economy in the world. So if its banking system collapses (and it will) we’re facing a full-scale Global financial meltdown (the IMF has even warned of this). That’s the reality of the situation we’re in today. I know nobody likes to publicly admit it. But it’s true.What happened in 2008 was literally just the warm up. The REAL DEAL is coming in the next 14 months. And it’s going to involve corporate, financial, and sovereign defaults.On that note, if you’re looking for specific ideas to profit from this mess, my Surviving a Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding disaster into a time of gains and profits for any investor.

Within its nine pages I explain precisely how the Second Round of the Crisis will unfold, where it will hit hardest, and the best means of profiting from it (the very investments my clients used to make triple digit returns in 2008).

Best of all, this report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.

Good Investing!

Graham Summers

PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s my proprietary Crash Indicator which has caught every crash in the last 25 years or the best most profitable strategy for individual investors looking to profit from the upcoming US Debt Default, my reports covers it.

And ALL of this is available for FREE under the OUR FREE REPORTS tab at: http://www.gainspainscapital.com.

 

  The Next Lehman: Bank of America is on the verge of a collapse. Each minute that ticks by brings it closer to becoming the Lehman Brothers event of this Crash. How do we know? Its financials are horrifying and it's been hit with a $31 billion dollar lawsuit. It's in worse shape than it was in 2008 - when it just barely survived.

  Europe Is Collapsing: Most every European stock market is gasping for life right now. European banks are in free fall. Germany is facing internal revolt and won't even be able (or willing) to back up any bailouts. And Greece has entered the final stages for its financial system -- the markets are pricing in a near 100% certainty of Greek debt default. This will ultimately kill Europe as we know it today.

  The US Debt Catastrophe: We just blew out our debt ceiling again. Yes, just after the last desperate extension was passed (and the US credit rating was downgraded to great fanfare). And the US economy remains a disaster with more and more Americans losing jobs and then falling off the unemployment numbers. No jobs = no recovery in sight. Our leaders have no plan but to pass more and more intrusive, ineffective legislation.

  The Myth of the Market Saviour: QE 3 won't solve this mess no matter how cleverly it's disguised (or trumpeted from the rooftops). The Fed spent $900 billion and nearly one year to prop up the markets -- and we've wiped out all those gains in just one summer month. As for China, how did their support of the Euro go earlier this year? Or the recent multiple central bank intervention to prop up the global markets? They're all clueless about plugging the growing leaks on a very large Titanic.

 

To be blunt, the financial system is in greater danger of systemic collapse than at any point in history (including 2008). Do not be fooled by the recent rally we've just seen. Things are not okay! We saw rallies of 8%, 11% and even 17% during 2008. Investors who bought into them got taken to the cleaners…’

 

 

 

The Coming Derivatives Crisis That Could Destroy The Entire Global Financial System The Economic Collapse | Most people have no idea that Wall Street has become a gigantic financial casino.

 



 America must manage its decline   http://www.ft.com/cms/s/0/0c73f10e-f8aa-11e0-ad8f-00144feab49a.html#axzz1bJWdBAUG   By Gideon Rachman  October 17, 2011 ‘Recently I met a retired British diplomat who claimed with some pride that he was the man who had invented the phrase, “the management of decline”, to describe the central task of British foreign policy after 1945. “I got criticised,” he said, “but I think it was an accurate description of our task and I think we did it pretty well.”No modern American diplomat – let alone politician – could ever risk making a similar statement. That is a shame. If America were able openly to acknowledge that its global power is in decline, it would be much easier to have a rational debate about what to do about it. Denial is not a strategy…’

 

 

Full moon October 10-14, 2011 … I’ve examined the weekly results for the global markets … Conclusion: The global euphoria, irrational exuberance in the financial markets worldwide, courtesy of the blazing full moon October 10-14, 2011 ; and yes, the lunacy once the exclusive province of fraudulent wall street is now a global phenomenon (10th near full beginning, 14th near full ending).

 

Fed should adopt GDP target, Goldman says Oct 17th, 2011 News (MarketWatch) — PG View: ‘Yes, it does indeed seem that “inflation as a solution” is gaining traction. I say tom-a-to, you say tom-ah-to. I say inflation targeting, you say GDP targeting. Whatever you call it, it’s synonymous with dollar devaluation and you best be saving in something other than dollars if you hope to come out the other side unscathed.’ …’The Federal Reserve should target the level of gross domestic product, Goldman Sachs economists said ahead of a wave of speeches from central bank officials.In a note published Friday night, Goldman Sachs said the best way for the central bank to loosen policy significantly further would be to target a GDP path, and commit to using more asset purchases to achieve that path.“While a shift to a nominal GDP level target would be a big decision, it would be consistent with the Fed’s dual employment and price mandate,” the economists wrote.[source] PG View: [Talk about self-serving disingenuity that along with their frauds, goldman’s come to be known for! Goldman, like the lunatics at salomon brothers should be out of business and vigorously prosecuted; having in large part helped create this crisis which continues with their dollar debased HFT’s. (‘Salomon Brothers' success and decline in the 1980s is documented in Michael Lewis' 1989 book, Liar's Poker. Lewis went through Salomon's training program and then became a bond salesman at Salomon Brothers in London.’Wikipedia. Acquired by Travelers / Citi. ] A timely position taken by Goldman Sachs in light of the inflation piece written by John Mauldin on Saturday. Yes, it does indeed seem that “inflation as a solution” is gaining traction. I say tom-a-to, you say tom-ah-to. I say inflation targeting, you say GDP targeting. Whatever you call it, it’s synonymous with dollar devaluation and you best be saving in something other than dollars if you hope to come out the other side unscathed.’

 

Can “It” Happen Here? Oct 17th, 2011 News By John Mauldin15-Oct (JohnMauldin.com) — I was inspired for this week’s letter by a piece by Art Cashin (whom I will get to have dinner with Monday). His daily letter always begins with an anecdote from history. Yesterday it was about Weimar, told in his own inimitable style. So without any edits, class will commence, with Professor Cashin at the chalk board.[Cashin's recounting of the nightmare German inflation, which we posted last week.]…”We know that the world is drowning in too much debt, and it is unlikely that households and governments everywhere will be able to pay down that debt. Doing so in some cases is impossible, and in other cases it will condemn people to many hard years of labor in order to be debt-free. Inflation, by comparison, appears to be the easy way out for many policy makers.“Companies and households typically deal with excessive debt by defaulting; countries overwhelmingly usually deal with excessive debt by inflating it away.…But now even serious economists are recommending inflation as a solution. Given the powerful deflationary forces in the world, inflation will stay low in the near term. This gives some comfort to mainstream economists who think we can create inflation to solve the debt problem in the short run.[source]PG View: Another great and comprehensive piece by Mauldin on the threat of hyperinflation. Even though Mauldin believes that an independent Fed, mandated to keep inflation in check, will prevent the unthinkable…what if he’s wrong? He cites an “ill-conceived” proposal by Financial Services Committee ranking member Barney Frank that could severely impede the Fed’s independence as a reason for concern. But even if Mauldin is correct, and inflation of the magnitude needed to meaningfully reduce our oppressive debt burden is never unleashed, it means that that very debt burden is going to be an interminable head-wind to economic growth and job creation. We are truly caught between Scylla and Charybdis.

 

 

 

Is Anyone Dumb Enough to Believe that Obama Supports the 99%?  George Washington : 10/17/2011 - Obama Pretends He Supports the 99% … But He’s a Wolf In Sheep’s Clothing [ Point well made! Despite his near legendary rhetoric (aka b***s***), his near legendary actions (aka dismal failure) have belied same. He’s so pathetic he’s become a cliché, a joke for typical political b***s*** and is a total embarrassment! Even more embarrassing are those who continue to cheer his opportunist b***s***! ]

 

'Fear Gauge' Marches Higher: TVIX Biggest Gainer With 17% Rise  Barrons.com 

 

French Banks Can Set Off Contagion That Will Make Central Bankers Long For The Good 'Ole Lehman Collapse Days!  : Reggie Middleton : 10/17/2011 - 13:46 ‘Due to the rampant misinformation and disinformation (please recognize and appreciate the distinct difference) being bandied about, I've decided to run the #s 1 more time and put it right here in...’

 

Balance Of Fundamentals Will Continue To Weigh On Market  http://thestockreporter.com/balance-of-fundamentals-will-continue-to-weigh-on-market ‘…Let us review six key fundamental factors as well as the technical panorama:

1. Sovereign debt and financial crisis in Europe.

2. Economic growth momentum in the USA and prospect of “double dip.”

3. Corporate earnings reports and guidance in the USA

4. Fiscal policy in the USA.

5. US monetary policy.

6. Global growth, with particular emphasis on China.

7. Technical factors…’

 

 

Marketwatch.com Regulators on Friday closed banks in Georgia, North Carolina, New Jersey and Illinois, pushing this year’s national tally of collapsed banks to 80.  The Federal Deposit Insurance Corp. said the Georgia Department of Banking and Finance closed Piedmont Community Bank in Gray, Ga., the state’s 20th failure of the year. State Bank and Trust Co. of Macon, Ga., will assume all of Piedmont’s deposits, the agency said. http://www.marketwatch.com/story/us-bank-failures-climb-to-80-in-2011-20...

 

US budget gap widens, tops $1 trln for 3rd year Reuters | Above $1 trillion for third straight year and providing fodder for political battle over taxes and spending.

 

ECRI Recession Watch: Growth Index Declines Further  http://www.bullseyemicrocaps.com/?p=11699  By Doug Short: The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) has posted 10 consecutive declines since early August. The interim high of 8.0 was set in the week ending on April 15. The latest reading, data through October 7, is -9.6, down from the previous week’s -8.7.

On September 30th, the ECRI publicly announced that the U.S. is tipping into a recession, a call the Institute had announced to its private clients on September 21st.

Early last week, ECRI notified clients that the U.S. economy is indeed tipping into a new recession. And there’s nothing that policy makers can do to head it off.

ECRI’s recession call isn’t based on just one or two leading indexes, but on dozens of specialized leading indexes, including the U.S. Long Leading Index, which was the first to turn down — before the Arab Spring and Japanese earthquake — to …’

 

 

US to Experience Stagflation Worse Than 1970s: Jim Rogers CNBC | The U.S. economy is likely to experience a period of stagflation worse than the 1970s.

 

Jeff Applegate: Not Sheepish About Turning Bearish  The Wall Street Journal  Jonathan Cheng ‘Last week was a tough time to turn bearish. Since hitting a bottom on Tuesday, the Dow Jones Industrial Average has jumped by 11% in less than two weeks, raising hopes among some investors that the U.S. and Europe may be able to power through their summertime woes.

Not for Jeff Applegate.

Mr. Applegate, the 61-year-old chief investment officer of Morgan Stanley Smith Barney, last week made his biggest bearish shift in more than two years, battening down the hatches and reducing his exposure to stocks, high-yield bonds, commodities and real-estate investment trusts.

Mr. Applegate argues that the world is heading into recession, hurt by political paralysis that has added uncertainty while withholding stimulus at a time of weakness. And the past few days’ rally, fueled by progress on a European bailout and an encouraging U.S. jobs number, has done little to change his mind.

“We’re seeing a relief rally in global equities in recent days, but at the end of the day, we think if Europe is heading into recession — which I think they are — and if the U.S. is heading into recession — which I think we are — then there’s more downside in equities,” Mr. Applegate said.

After a strong start to the year, U.S. stocks wavered in the summer as Europe’s debt crisis intensified. Stocks tumbled further in August as the worries spread to the U.S. economy, sending the Dow to a one-year low last week. But as the economic data showed tepid signs of improvement, a number of investors and traders have begun to argue that the stock-market may have turned a corner.

Mr. Applegate said the Global Investment Committee he runs at MSSB, which meets as many as 20 times a week but makes only very infrequent changes to its positioning, didn’t come to the conclusion lightly.

Two and a half years ago, Mr. Applegate began shifting to a more aggressive position, benefiting from the major U.S. stock indexes’ 70% increase off its the March 2009 trough. While he says there was “no single event” that tipped the balance this time around, Mr. Applegate’s pessimism is based on well-known concerns: the ongoing debt crisis in Europe, fears of a “double dip” recession in the U.S. and concerns about central bankers’ ability to support the wavering global economy.

“The policy action being taken, both in Europe and the U.S., is too little, too late,” he says.

Mr. Applegate doesn’t rule out a comprehensive plan to prevent a European banking crisis, but he worries that Europe’s economy may nonetheless falter — particularly as the European Central Bank holds interest rates steady after several increases earlier this year.

“Europe will avoid a Greek default, but what we ware saying is that they’re heading into recession anyway,” he said. “The European economy wasn’t exactly robust to begin with, and it’s hard to see how it’s going to get better.”

To be sure, Mr. Applegate concedes that the economic picture could gradually improve, “in which case our call is going to be incorrect.”

“We’re sifting through the evidence all the time, so if it looks like we’ve got it wrong, we’ll need to change our course,” he said.

Mr. Applegate says he isn’t bothered by the market’s recent 11% run-up.

“We have always said that we never try to time the market, and we don’t,” he said, adding that his committee is flexible enough to reverse course — or even turn more bearish if economic conditions deteriorate more than he fears. “We could still get more defensive,” he said.’

 

 

 

Double-Dip Recession a Foregone Conclusion: Roubini Oct 11th, 2011 News (CNBC) — The world’s advanced economies are headed for a second recession, regardless of whether there is further chaos in Europe, Nouriel Roubini told CNBC on Tuesday. The economist who correctly predicted the 2008 financial crisis, but has got some other bearish calls wrong, said his reading of recent data suggested the U.S., euro zone and the UK are already on the verge of falling into a recession in the next quarter or two.“The question is not whether or if there is going to be a double dip, but whether it’s going to be mild or severe with another financial crisis,” Roubini told CNBC on the sidelines of the World Knowledge Forum in Seoul. “The answer on that depends on the euro zone.”According to Roubini, a disorderly situation in Europe caused by a sovereign debt default, a banking crisis or an exit of one of the members from the euro zone, would be a shock more severe than the collapse of Lehman Brothers. He added that Europe had to get its act together and “do the right thing” by the G20 meeting in Cannes in the first week of November.[source]

 

The REAL $200 TRILLION Problem Bernanke’s Worried About   Phoenix Capital... : 10/12/2011 – ‘US Commercial banks have $200 TRILLION in interest rate based derivatives sitting on their balance sheets. And guess which banks have the greatest exposure?

I’ve stated before that Bernanke isn’t interested in interest rates for employment of economic purposes. We now have definitive proof this is the case.

 http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-4_0.png

 As you can see, interest rates have actually RISEN after the announcement of QE lite, QE 2 AND Operations Twist #2.The evidence is clear, QE has not lowered interest rates. Indeed, the only time rates FELL in the last two years was when the Fed WASN’T engaged in QE (May 2010-August 2010 and June 2011-September 2011).So what gives? Does the Federal Reserve not have a stockcharts account? Don’t tell me that with the TRILLIONS spent bailing out banks the Fed can’t afford to print a couple hundred bucks to see Treasury yields. Heck, there are plenty of FREE sources for Treasury charts.Jokes aside, it’s clear the Fed is engaged in QE for another reason or reasons. I believe they are:

#1) To absorb the insane debt issuance to permit the US’s massive deficit.

#2) To keep the interest rate based derivative market in check.

Regarding #1, it’s no surprise that the US has been running a deficit that would make Greece proud. Indeed, the primary strategy of the powers that be since the Great Crisis began in 2008 was to attempt to make up for the sharp downturn in the private sector by spending obscene amounts of money.The Fed played a big part in this.  Indeed, since QE 1 was announced the Fed has bought over $1.2 TRILLION in Treasuries. The Fed claims it isn’t funding the deficit directly. That’s only partially correct. The Fed is supposedly buying old Treasuries from the banks. However, the definition of “old” can mean one or two weeks.Tell me with a straight face that isn’t somehow buying new Treasuries.As for the derivatives situation or #2 in my list above, 82% of the $244 TRILLION in derivatives sitting on US commercial bank balance sheets are based on interest rates. Put another way…US Commercial banks have $200 TRILLION in interest rate based derivatives sitting on their balance sheets. And guess which banks have the greatest exposure?

 http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/top%20four.gif

Looks a lot like the list of the VERY banks the Fed has been giving the most money/ preferential treatment to. Coincidence? Nope. This is the $200 TRILLION problem Bernanke’s so worried about. It’s THE reason he keeps funneling money to the TBTFs.And he WILL lose control of it, just as he did in 2008.Consider that Financial leverage levels today are higher than during the Tech Bubble. Only this time, the problem will be far FAR worse.Why?Because 2008 was caused by the Credit Default Swap (CDS) market which was $50-60 trillion at the time. As I stated before, the interest-rate based derivative problem is $200 TRILLION in size.Even if only 4% of this is “at risk” and 10% of that “at risk” money blows up, you’ve STILL pretty much wiped out the equity at the TBTFs.You think Bernanke might be worried?On that note, if you have yet to prepare yourself for what’s coming, now is the time to do so. Whether it’s by moving to cash and bullion, opening some shorts, or simply getting out of the markets altogether, now is the time to be preparing for what’s coming (remember, stocks took six months to bottom after Lehman… and that was when the Fed still had some bullets left to combat the collapse).And if you’re looking for specific ideas to profit from this mess, my Surviving a Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding disaster into a time of gains and profits for any investor.Within its nine pages I explain precisely how the Second Round of the Crisis will unfold, where it will hit hardest, and the best means of profiting from it (the very investments my clients used to make triple digit returns in 2008).Best of all, this report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.Good Investing!Graham Summers PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s my proprietary Crash Indicator which has caught every crash in the last 25 years or the best most profitable strategy for individual investors looking to profit from the upcoming US Debt Default, my reports covers it. And ALL of this is available for FREE under the OUR FREE REPORTS tab at: http://www.gainspainscapital.com.’


Europe eyes bigger Greek losses for banks

 

Markets Are Dealing With a Foreboding Financial Backdrop  Minyanville   Lee Adler Oct 12, 2011 ‘Tracking the Fed, Treasury, primary dealers, foreign central banks, money supply, and other key elements of US market liquidity to undertsand how markets are operating.

Two weeks ago I began to report that foreign central banks (FCBs) had begun to engage in unprecedented levels of disgorgement of their massive holdings of US Treasury and Agency paper. Prior to this year, the FCBs had typically absorbed the equivalent of 25% of new US Treasury issuance month in and month out. That was effectively a subsidy of US financial markets. It lowered long-term interest rates artificially and injected cash into the US markets and banking system.

Then about a year ago the FCBs began to slack off in their buying. In reality, that is what necessitated the Fed's program of Quantitative Easing. The Fed had to step in and fill the demand gap left by the FCBs gradually reducing their rate of purchases. Had the Fed not acted when it did, long-term Treasury yields would have started to rise and along with them mortgage rates and other long-term rates, something that the US economy and the US government simply could not afford.

When the negative unintended consequences of the Fed's QE money printing, primarily skyrocketing commodity prices, exploded in Ben Bernanke's face, he was forced to discontinue the program and allow the Treasury market to fend for itself. The Fed had convinced itself through its self-congratulatory in-house research, that there would be more than enough demand for Treasuries for the market to stand on its own without the Fed propping it up.

Ironically, the US bond market was rescued by the European sovereign debt and bank meltdown, so it appeared for a while that Dr. Bernanke might be right and his monster experiment would come to life on its own. The European panic triggered massive capital flight that ended up (where else?) flooding into the US, mostly into purchases of Treasuries. Not only could the monster walk on its own, it could actually fly! Once again the Treasury market benefited from an unusual subsidy, this one driven by fear. Bond prices flew into the stratosphere with yields sinking to record lows.

About six weeks ago, something changed. FCBs not only slowed their buying of Treasuries, they stopped altogether, reversed course and actually began selling them. Three weeks ago their selling reached a level that I characterized as "dumping." It was simply unprecedented. I opined that this could be the beginning of the end of the Treasury bull market, in spite of any effect that the Fed's new Operation Twist might have.

In fact, I expected that effect to be nil, and it has been. If anything, the announcement of Operation Twist, where the Fed offered to buy long-term Treasuries from the Primary Dealers while simultaneously selling them short-term paper, rang a bell for some investors. The Fed's announcement told them that the time had come to sell their long-term paper. If the Fed was buying, they decided that they would be glad to sell. Today, the yield on the 10-year Treasury note rose to 2.16%. That's up an astonishing 44 basis points since last Thursday's open.

Every other day, the Treasuries open on a huge gap. They are trading more like pork bellies than stodgy government bonds. Worst of all, the yield on the 10-year is up approximately 45 basis points since the low in yield reached the day after the Fed announced Operation Twist. Bernanke has egg all over his face. The man simply does not understand financial markets. And this move does not look like a fluke. As a result of today's market, the yield on the 10-year has broken out of an intermediate-term base. Unless yields pull back immediately, the implication is that the intermediate term target is 2.50. Meanwhile, Bernanke had assured investors that long-term yields would fall as a result of his doing the Twist.

Apparently, the FCBs were among those who took the Fed's announcement as a sell signal. They are selling at the heaviest pace in the nine years that I have been tracking this data. Normally, prior to the last five weeks, the instances when they were actually net sellers were few and far between. What has been going on here lately is no less than a sea change.

Making matters worse is that the Primary Dealers have also become massive sellers of Treasuries and all manner of fixed income paper in recent weeks. This data is released with a 10-day lag, so I only have data through September 28, but given the market action this week, this trend is certainly continuing.

The dealers appear to be in trouble. They began selling off their fixed income paper of all types in early September. That accelerated to what I can only characterize as wholesale dumping in the weeks ended September 21 and 28. It is no coincidence that those where the weeks where we began to see yields reverse from their record run.

http://image.minyanville.com/assets/FCK_Jan2011/Image/October11/12/la10121.JPG

 
These are troubling developments, not just for their implications for the bond market, but for what they imply about the health of the backbone of the US financial system -- the Fed's Primary Dealer (PD) network. If the Fed is the head, these guys are the spinal cord. Focusing on just their corporate bond holdings the picture becomes even more troubling. If major corporations are supposedly doing so well and their balance sheets are in such great shape, why did the PDs not accumulate their fixed income securities throughout the equities bull market of 2009 and 2010? And especially, why have they been frantically dumping their corporate holdings since June?

http://image.minyanville.com/assets/FCK_Jan2011/Image/October11/12/la10122.JPG

Something is rotten here. These are signs of major systemic stress.

It's been a while since both stocks and bonds have rallied together. In recent months stocks could only rally when bonds sold off, which was rare. For the most part bonds were rallying and stocks were selling off. There just has not been sufficient systemic liquidity to keep levitating both markets simultaneously. It was either one or the other. But even the days where the stock market rallies, when bonds sell off and yields rise, may be coming to an end, and the day where both stock and bond prices fall and yields rise together, may be at hand.

These are just a couple of the factors that I track in my weekly reports covering the Fed, Treasury, Primary Dealers, foreign central banks, money supply, US commercial banking system conditions, fund flows and other key elements of US market liquidity. The fabric of the US financial markets is intertwined and complex. I track what I believe, from my years of observation, are the most important threads in that fabric, to try and gain an understanding of the context in which the markets are operating. That context is important to the technical analysis side of my work, where knowing the liquidity picture can help in understanding the patterns unfolding on the charts of the markets themselves. There are always loose ends, but more often than not, even with loose ends most of the threads tie together into a neat tapestry with a story that is clear. This may be one of those times, and it's not a happy picture.

Editor's Note: This article was originally published on Wall Street Examiner.’

 

The Structural Challenges Facing Muni Bonds  Minyanville

 

Dave’s Daily http://www.etfdigest.com/davesdaily  ‘The only thing wrong with the image above is that it’s from March 2010, or on one of many previous plans agreed upon. But, markets don’t care about this and just thirst for any deal even if memories remain short. These euro zone fixes seem ephemeral and need implementation to stick. HFT algos are programmed to pounce on these presumed fixes and have been active in driving stock prices higher this past week. Let’s face it; this is the time of year bulls can make their year with good fees and bonuses on the line…

 

 

 

[video] Trader: We Could Test 1120 Lows at TheStreet.com

 

 

There's A Recession Coming According To The Data at Forbes  The stock market peaked in April, and is behaving in the saame fashion it did in late 2007, when big troubles from real estate writedowns were spreading through the financial sector.

The most worrisome statistic this week was the Empire State Manufacturing indedx– wehich was down from a minus 3.76 to a minus 7.7– a leading indicator of recession in the past. The new industrial orders index from New York remained well below zero at minus 7.8.

The Federal Reserve Board has promised to keep interest rates at zero until 2013– an admission that the economy is not expected to rebound for two years– until the next President is in the White House. This policy step indicates the Fed does not believe the economy will recover either this year or next year. Never before has the centreal bank made such a policy declaration for as long a period as two years.

There were 1300 new lows in the market on August 8th– another phenomenon that hasd not taken place since the great stagnation was triggered in 2008. Even though the market indexes made up all their lost ground, it appewars that investors are willing to delude themselves that  corporate profits will reemain at very high levels despite the period of austerity we are clearly entering.

The austerity required in Europe to deal with the sovereign debt crisis is likely to push Europe into a recession. This will impact US corporations dependent on important profits from Europe.

The corporate return on revenues has risen the past two years to a peak of 14%– an unusually high level of profits– that is not expected to continue.

Consumer savings are rising as household debt gets paid back. But, we are a long way from safety levels of savings in a high unemployment period. And the higherb the saavings rise so the lower the level of consumption will be.

Housing numbers were down 1.5% last month underscoring that the turnaround in housing is not close at hand.’

 

 

Market's Swoon Should Be Your Wake Up Call

 

 

Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon:   ‘Back on December 12, 2007 I wrote a market commentary that started as follows:

The equity markets have been very volatile this year, but also range bound.  A picture speaks a thousand words so all one needs to do is view the chart below of the S&P 500 Index to understand just how volatile and range bound things have been.  Specifically, since February 20, 2007, only nine and one half months or so ago, the S&P 500 Index has been down 5.86%, up 13.02%, down 9.43%, up 11.26%, down 10.09%, and now up 7.73% – through 12/10/07 – so far in this latest up leg!  All this in ONLY nine and one half months!

http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-1.jpg

History is repeating itself so far in 2011, which has been fraught with ups and downs in both international and domestic equity markets.  This is due to many things, including the considerable economic doubts and various countries debt situations. This uncertainty has translated into market performance with direct impacts on portfolio returns and more prominently in portfolio volatility. This volatility is best seen in the chart below of the S&P 500 Index beginning 1/1/11.

http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-2.jpg

2010 ended positivity and the momentum carried into the first two months of 2011 however the end of February began a series of events that led market returns on a whipsaw ride of ups and downs, resulting in the current universal mid-year views of market uncertainty.

What news was associated with this volatility? All the usual; crude oil prices, natural disasters, corporate earnings, politics, economic forecast revisions for both developed and emerging markets, the European debt situation, the United States debt situation and more to name just a few.

One thing is for certain; the current volatile, range bound market activity is difficult at best to profit from.  In this investing environment patience is the most important attribute.  I will be patient and will be careful until the trends are preferable.

Our strategy at Hanlon Investment Management is to attempt to minimize downside risk by exiting risk asset classes, such as equities, during periods of uncertainty, getting invested in more conservative asset classes, such as money markets and short-term bonds, and re-entering into risky asset classes when we identify them as attractive, when the trend is our friend and positive!

Having identified this volatility, in June we made defensive, tactical investment decisions that provide less exposure to these volatile, range bound markets and prepare us to re-enter the markets when they possess improved risk characteristics.’

 

 

 

SEC may have destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission may have destroyed documents and compromised enforcement case ...   Grassley: Agency may have got rid of Goldman, Madoff documents   Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) — The Securities and Exchange Commission may have destroyed documents and compromised enforcement cases involving activity at large banks and hedge funds during the height of the financial crisis in 2008, according to allegations made by a lawmaker on Wednesday. “From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” said Sen. Chuck Grassley, Republican of Iowa, in a letter to the agency’s chairman, Mary Schapiro. Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.” Agency staff “destroyed over 9,000 files” related to preliminary agency investigations, according to a letter sent in July to Grassley, the top Republican on the Senate Judiciary Committee, and obtained by MarketWatch. The allegations were made by SEC enforcement attorney, Darcy Flynn, in a letter to Grassley. Flynn is a current employee, and according to the letter, received a bonus for his past year’s work. Flynn alleges the SEC destroyed files related to matters being examined in important cases such as Bernard Madoff and a $50 billion Ponzi scheme he operated as well as an investigation involving Goldman Sachs Group Inc. GS +0.33%   trading in American International Group credit-default swaps in 2009. Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. WFC +1.34% , Bank of America Corp. BAC +0.81% , Citigroup C +0.13%  , Credit Suisse CS +0.38%  , Deutsche Bank DB +0.79%  Morgan Stanley MS -0.06%  and the now-bankrupt Lehman Brothers. The letter goes into particular detail about Deutsche Bank, the former employer of current SEC enforcement chief Robert Khuzami as well as former enforcement chiefs Gary Lynch and Richard Walker…’

Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ [ Oh but it does make sense Sen. Grassley:   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ]

 

 

TRAIN READING: COVER-UP  Mark Gongloff

Is the SEC covering up Wall Street crimes? — Matt Taibbi

The forex market is causing some companies to pull up stakes — Heard on the Street

Resisting the urge to buy the dips — Josh Brown

Maybe it’s not stocks that are cheap, but earnings estimates that are high — Ritholtz

China’s worsening credit crunch — Pragmatic Capitalism

The Occupy Wall Street protesters are winning — Josh Brown

The gap between economic data and sentiment — Abnormal Returns

Recession, restructuring and the ring fence — John Hussman

 

What happens after a Greek default? — Fortune

Stop blaming Greece for the market’s problems — Mark Hulbert

China’s credit crunch is worsening — FT Alphaville

Another huge earnings miss coming? — James Bianco at The Big Picture

It’s science: 92% of all Billboard top ten songs are about sex — The Atlantic

Frau Merkel, it really is a euro crisis — Ambrose Evans-Pritchard

Hero or hypocrite? The Buffett Rule, then and now — Jeff Matthews

CRB commodity index back to 1749 (warning: extreme verticality) — Ritholtz

Will stocks rally as profit margins fall? — FT Alphaville

Europeans still don’t seem to understand the enormity of their crisis — Economist

Misunderstanding the effects of QE2 was a grave mistake, hurting us today — Pragmatic Capitalism

The myth of cash on the sidelines — James Bianco at The Big Picture

A flowchart of Greece endgames — none appealing — BBC

The unexamined crisis of 2008 — Economist’s View

Monetary moves have lost their magic — Reuters Breakingviews

Jobs are not really being held back by deficit uncertainty — The Atlantic

The real failure at Netflix — Abnormal Returns

Peak oil may be beside the point — Economist

The Troy Davis case shows how wrong eyewitness evidence can be — Slate

The Tiger Mom goes to China — New Yorker

Overconfidence may be an evolutionary advantage — Discover

Buy your own private island in NYC for less than $300,000 — Curbed (via Felix Salmon)

Bank of America’s layoffs pointless, “wouldn’t even pay the lawyers” — Huffington Post

Time to break up Bank of America — The Atlantic

Why is the UK still rated AAA? — FT Alphaville

New human ancestor discovered — WSJ

The cost of a crowded volatility trade — FT Alphaville

Workers’ malaise foreshadows wider social issues — Mohamed El-Erian at Reuters

No, we’re not waiting for your official recession call, economist –Josh Brown in Forbes

Your guide to living in 10 fictional worlds — Wired

Failing US economy no reason to stop investing in print media, all experts agree — The Onion

Enough with the monetary easing already — Pragmatic Capitalism

The US economy is becoming more susceptible to hurricanes — Real Time Economics

How Irene lived up to the hype – Five Thirty Eight

The War on Terror is dead — The Atlantic

Emerging markets now have more heft and reach than developed ones — Economist (video)

Why is the White House defending banks from investigations? — Megan McArdle

Hurricane Irene may cause a gas-price spike — CNN/Money

Know the difference between short-term and long-term problems for the economy — Ritholtz

Why aren’t governments more afraid of a double-dip recession? — The Atlantic

France deserves a downgrade at least as much as the US does — Bethany McLean in Slate

Recent market volatility has historical precedent — Mark Hulbert

Stop worrying about China not buying Treasurys, already — FT Alphaville

Fed hawks at odds over their reasons for dissent — Reuters

Why Rick Perry made a bid for the anti-Fed set – Slate

Maslow’s hierarchy of needs gets an update — The Atlantic

How did so many people feel one small quake in Virginia? – The Atlantic

Philly Fed coincident indicators turning red — Calculated Risk

Treasurys are priced for disaster — Capital Spectator

Profit recession risks tick higher — FT Alphaville

The rich can afford to pay more taxes — Bruce Bartlett in Economix



 

Everything You Need to Know About the Latest Market Plunge [But were afraid to ask]  Minyanville Staff Aug 18, 2011  ‘After a rather benign start to the week, markets plunged on Thursday with the S&P 500 shedding 4.5% and the Nasdaq-100 falling nearly 5%. The main driver on the day was speculation European banks remain insufficiently capitalized. Gold jumped nearly 25 to a record high and Treasuries rallied. Among stock movers, Apple (AAPL) outperformed the indices but still dropped 3.7%, Microsoft (MSFT) also outperformed closing down just 2.2%, Bank of America (BAC) dropped 6% and Oracle (ORCL) fell 8.3%.
Below are this week's top Minyanville stories examining the state of the US and global markets.

Is It 2008 Again? Looking at the Summer Crash of 2011
A real bear market has begun, and bonds got it right as early as February that the biggest threat to the global economic system is deflation.
by Michael A. Gayed 

Dynamics of This Market Panic Ripple Though History
The 10-year anniversary of the 1929 high ties to the beginning of World War II on September 1st, 1939 when Hitler invaded Poland and France declared war on Germany.
by Jeffrey Cooper 

Are Gold and S&P 500 Behaving Logically or Irrationally?
Unfortunately Mr. Market rarely embarks upon the logical until he has convinced enough market participants to behave irrationally.
by J. W. Jones 


Random Thoughts: Fed Dissention and Financial Market Fatigue
The world's wildest reality show continues.
by Todd Harrison

Handicapping the Global Economic Recovery
The obvious question must be begged: where do we go from here?
by Todd Harrison 

Coming in October: Next Major Price Cycle Low
A major price cycle on the daily S&P 500 chart, which shows reliability in bottoming about every 15.5 months, is due for its next low on or about October 31.
by Michael Paulenoff 

Volume Trends Suggest Worst Is Not Over for Stocks
When the market rallies hard after a nasty decline, one of the first things that can determine whether the rally's a keeper or not is volume. Here's why.
by Tim Thielen

The Sign of the Bear

When the quarterly turns down, the normal expectation is for the market to carve out a low soon, in terms of time and price -- not to waterfall.
by Jeffrey Cooper

Economy Showing Signs of Life, but Not for Long

We're on the brink of a nice little bump from the data coming in, but on the whole, a 1930s-style depression seems to be on track.
by MoneyShow.com

Wall of Worry Keeps Rising on Europe's Credit Crisis Fears

To make matters worse, politicians in the world's crisis-free countries are on summer vacation.
by Lloyd Khaner

Why Is Everyone Bullish on the US?
Wall Street will always think positively of the market, but the facts are pointing to a bearish phase.
by Gary Kaltbaum

Five Things You Need to Know: Asymmetric Economy Increasingly Untenable and Unstable
This situation cannot continue without adjustment.
by Kevin Depew

Fed's Easing Policy Means Worse Living Through Convexity
As the Fed removes interest rate risk through stealth QE3, it introduces other risks, distorting incentives for investing and weakening the economy in the long term.
by Professor Pinch

Are US Markets Facing the Abyss?

The vast majority of technicals are indicating a new bear leg.
by Jeffrey Cooper ‘

 

 

 

Dow Tumbles on New Worries About Same Old Issues - Aaron Task

Who’s Worse: U.S. Banks or Bernie Madoff? - Stacy Curtin

 



 


WHY NEW LOWS ARE LIKELY   Simon Maierhofer, August 18, 2011  Last Sunday's (August 14) ETF Profit Strategy Newsletter update listed 5 reasons why new lows are likely. Here they are:

HISTORIC REVERSAL

We've been expecting a major market top in the S&P 500 (SNP: ^GSPC), Dow Jones Industrials (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC). The April 3 ETF Profit Strategy update identified the ideal target range for a major top to be 1,369 - 1,382. The chart below was featured in the same update.

It outlines a top around 1,370 followed by an initial decline to about 1,230 (happened in June), followed by a rally (happened in July), followed by a steep decline.

DEATH CROSS

The death cross is one of the most talked about technical events, that's why I don't put too much stock in it. However, there are two interesting facts about previous death crosses.

The 2000 and 2007 death cross occurred about three days before the S&P embarked on its next leg down. The 2010 death cross was actually a buy signal. However, it occurred after the S&P and DJIA bounced off a multi-year trend line. This time the trend line was broken so a more bearish interpretation of the death cross is appropriate.

                               https://www.etfguide.com/images/PDNewsletter_Images/5%20-%20April%203%20TF.jpg  

SEASONALITY

August, September, and October is the most bearish stretch of the year. September and October sport negative performance even in the pre-election year.

SENTIMENT

From S&P 1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and sentiment measured by Investors Intelligence (II) and the American Association for Individual Investors (AAII) turned deeply bearish (only 37% II bulls). The June 16 ETF Profit Strategy update took that as a queue to buy (long positions were closed at S&P 1,340).

From S&P 1,353 on July 7 to S&P 1,102 on August 9 the S&P lost 251 points, yet the II sentiment poll registered the second most bullish reading since the first week of May (47.3% II bulls). AAII and II polls are often considered the 'dumb money.' If the 'dumb money' views last Wednesday's low as a buying opportunity, the 'smart money' should be suspicious.

VIX PATTERN

If you have the charting capabilities, take a moment and plot the VIX (Chicago Options: ^VIX) against the S&P for the months of September - November 2008 and April - July 2010. If you don't have the time you may simply look at the chart below.

                                https://www.etfguide.com/images/PDNewsletter_Images/yahoo%20-%20vix%20pattern.gif  

What we've seen in 2008 and 2010 is that a VIX peak did not coincide with the S&P bottom. The S&P bottom actually occurred against a lower VIX reading. If this pattern continues, we will see lower lows.

The August 14 ETF Profit Strategy update includes a detailed analysis of the VIX pattern.

THE SCRIPT

Via more or less accidental chart surfing I found a striking resemblance between the 2007 market top and the May 2011 top.  This moved me to state in the July 17 Profit Strategy update that:

'There is a similar trend line and a triple top above the trend line. A break below that trend line could be a precursor of bad things. Next week the trend line will be at about 1,262.' The S&P sliced through that trend line on August 4 and fell an additional 12% within the next four days.

The August 7 Profit Strategy update revisited that script and concluded this: 'We now have a rough script; let's see how much lip the actors will add during the live performance (I.e. S&P downgrade). 

The two main things I have taken away from the 2007 script are:

1) There will be a new low.

2) There will be a powerful counter trend rally to around 1,xxx (reserved for subscribers).'

THE VERDICT

We got the new low and we got a rather powerful rally. Now the question is, how long will the low last and how high will stocks rally?

The script suggests there will be another low. The VIX pattern suggests there should be another price low. Seasonality suggests that there's some headwind on the way up. Sentiment readings suggest we should be suspicious of any rally. The death cross also suggests lower prices.

SUMMARY

There were a number of good reasons to expect new lows on Sunday. Yesterday's ETF Profit Strategy update recommended to go short as soon as the S&P breaks below 1,373. This happened within the first few minutes of trading today. Now it's time to let the script play out…’

S&P Triggers 200-day MA Death Cross - What Does this Mean? ETFguide.com

Is This a New Bear Market? The Chart That Tells The Whole Story ETFguide.com

Why The Worst May Be Yet To Come ETFguide.com

 

 

 

Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs | iPhone 2 (robot)... By Michael McGill: August 18, 2011 is a day that has handed out some of the worst economic news since a few days in the 2008 financial crisis, and it has the Dow Jones Industrial Average down big time. The reasons keep piling up to turn bearish and pile into safer investments. Here are 5 reasons showing that investors need to be on the watch out for choppy waters tsunami type waves ahead: Homes Sales Drop 3.5% in July – This marks the weakest sales (4.67 million) figure in 14 years, even beating last year’s disappointing mark of 4.91 million. This is despite the average rate of a 30-year fixed mortgage coming in at its lowest level on record (4.15) this week. This is data to fight the ever increasing hope that home owners have of increasing the value of their homes. Jobless Claims Rise 9,000 – Last week investors were looking for Complete Story »

·        Homes Sales Drop 3.5% in July – …

·        Jobless Claims Rise 9,000 – …

·        Treasuries Hitting Record Highs (record low yields) – …

·        Inflation at the Consumer Level Rose to 0.5% in July – …

·        World GDP Growth Slowdown - …’

 

 

 

Dow/Gold Ratio Lowest Since 1987 Crash   Forbes   Adrian AshToday’s gold buyers might still get to look early birds as this depression wears on… GROWTH or defense…stocks or gold? Intra-day noise aside in summer 2011, Mr.Market’s choice looks plain.

The Dow/Gold Ratio – a measure of the U.S. stock market’s valuation in ounces of gold – has sunk as equities have plunged but gold prices have jumped so far this summer.

Dropping through 6.0 ahead of Friday’s New York opening, the Dow/Gold Ratio hasn’t been this low since early 1989, back when world equity markets were recovering from the Great Crash of Black Monday 1987.

http://goldnews.bullionvault.com/files/DowGoldviii11.png

That slump itself had taken the Dow/Gold Ratio all the way down to 3.6, with gold prices rising to nearly $500 per ounce as the Wall Street index sank to 1776 points. Growth, of course, was only taking a pause in late 1987 – a quick breather before the real race to perfection of the late 1990s. Today, in contrast, the Dow/Gold Ratio could still go a lot further down. Or so says history.

Trading a little over its century-long average of 10.0 today, the ratio bottomed during the 1930s Great Depression at just below 2.0 ounces of gold for one Dow unit. At the nadir of the next global depression – the inflationary depression of the early 1980s – the Dow/Gold Ratio sank even lower, down to 1.0.

Whatever flavor of depression we’ve got at the start of this decade – and it is a depression, as Western jobs data continue to show and as the Dow/Gold yardstick will confirm if it goes much lower (keep an eye on the underperformance of gold mining equities, too) – a growing flow of private savings is choosing defense in gold bullion rather than choosing business-risk in listed stocks.

That choice might sound self-fulfilling if you work in psychiatry or government, a kind of “clinical disorder” open to curing with medication, zero interest rates or perhaps a third round of quantitative easing – most likely aimed at risk assets, we guess, rather than the “risk free” Treasury bonds targeted by QE1 and QE2 – and which institutional investors are all-too keen to hold anyway.

So far, however, investors choosing to buy gold only account for a tiny portion of the money fleeing equities.

From here to a true depression low in Dow/Gold (if such a level is reached), today’s gold buyers will need to find many more friends. They’d also look early-birds compared with the rush out of stocks – and into gold – needed to reach that 2.0 or 1.0 mark.’

 

The Great Stocks Vs. Gold Round Trip  Aug 19th, 2011 News (BusinessInsider) — ‘ When priced in gold stocks have now returned to where they were at the market’s low-point, back in 2009. Actually, we’re even worse now.  http://www.usagold.com/pete/newsviews/20110819GoldSPratio.jpg   PG View: In 1965 De Gaulle called for a return to an “indisputable monetary base,” one that “does not bear the mark of any particular country.” He of course was referring to gold. As was pointed out in a Forbes article early in the week on the 40th anniversary of President Nixon closing the gold window, over the last four thousand years, the only period in which humanity has not consistently based its currency in metal, specifically gold, is the last forty.” And look what that has wrought…’


Ignore Buffett's Advice, Don't Buy Stocks at Forbes Bert Dohmen [ Yeah … this is really good advice. As a shill for fraudulent wall street, they may have given him some ‘stellar performances and cash to boot’; but, the homespun bumpkin senile buffet’s analytical abilities, if ever really extant, have certainly passed the point of no return. You may recall how the clintons, with a mere $1,000 or so, were revealed as ‘commodities trading wizards’, but as written up in the Wall Street Journal ‘someone was giving them money’. In fairness, that they were singled out (was) is a bit arbitrary inasmuch as that’s going on all the time on wall street, and now with greater precision owing to greater computer programming capabilities, to everyone else’s detriment. Remember, in a manner of speaking, there are two sides to every trade, viz., winner and loser (in relative terms).] ‘The markets plunged going into August 8. On that day, the DJI closed with a loss of 629 points. My indicators signaled that a brief bounce would commence the next day. According to the charts, the first target for the S&P 500 was 1205. The target was hit exactly a few days later. That was followed by a renewed plunge.

I have been looking for a serious crisis to start in September. It appears that we have seen the prelude for that. The big smart money has been preparing for the past five months.You can see the “distribution pattern” on the charts since mid-February. The rush to the exits is now accelerating and the smart money has been selling short in large amounts.

The extreme bullish sentiment that prevailed until the latest plunge was first replaced by complacency, then by concern. However, the “fear” stage is still missing, except at hedge funds that were forced to sell because of margin calls. In fact, during the severe plunge in the first week of August, investment investors became even more bullish according to Investorsintelligence.com. That is not good for the markets.

The market negatives are increasing in numbers. The IPO window is now shut. There are signs that credit is once again vanishing. Loans are being called in, some companies appear to have difficulties rolling over their Commercial Paper, junk bonds yields are soaring, European banks may stop lending to each other, and the European crisis is spreading out across the globe. It’s my view that this will cause another credit crisis, just as in 2008.

What’s worse is that contrary to 2008, the big players learned to read the signs from their 2008 mistakes. They are now wide awake, although in the media, their minions still repeat the same bullish fairy tale. This means that this crisis could develop much faster than the last one. (Read my book, Financial Apocalypse, which is the 2008 roadmap, one which can be used very well for what is now happening.)

The words “possible recession” suddenly is being mentioned a lot in the media, although economists still strongly deny that possibility. Our rule is that the stronger their denials, the more certain and the deeper the recession will be. In fact, I declared in our May 9 issue of the Wellington Letter that the recession had started.

Morgan Stanley lowered its global GDP growth forecasts for 2012 from 4.5% to 3.8%. My forecast is for 1%-2% or less. It would be negative growth except for the fudged inflation numbers.

The European politicians are not any smarter than those in the U.S. Merkel and Sarkozy had a meeting in Paris and did nothing. That day I called the outcome “Disastrous” for the markets. It took the markets a day to digest the consequences and then the selling avalanche started. Many of the markets in Europe, led by the banks stocks, went into virtual free falls, losing from 4%-7% in one day. Such losses indicate an approaching crisis.

Now we see some of the well-known Wall Street figures appearing in the media, telling investors all the reasons why stocks are a good buy. One appeared with a long list of bullish factors. Well, that list didn’t prevent the global stock market from losing an incredible $6 trillion over the past several weeks. He did the same cheerleading on national TV in 2007 before investors lost 50% of their wealth.

Warren Buffett is also once again the cheerleader saying he is buying stocks. He did that in 2007-2008 as well, and then the meltdown started later in 2008.

I would not fall for this self-serving advice. Words cannot rescind a recession that we already have, it cannot stop the insolvency of entire countries in Europe, it can’t change the fact that major profit downgrades will appear soon, and it can’t stop the China crisis that is now starting.

Gold is soaring, but the mining stocks look terribly weak. There is great danger now with the gold stocks getting hit hard by less developed countries, including South Africa, to nationalize gold mines. This is too lucrative for them to resist.

I would get out of all money market funds unless they are “U.S. government only.”  The MMFs have big exposure to European banks. We believe that lending between banks in Europe may seize, which means that the whole structure will start shaking. You will start hearing the word “contagion.”

In my opinion, the danger period is approaching. What we have seen until now is just a “preview.” The main feature is likely to be worse.

Bert Dohmen is editor of Bert Dohmen’s Wellington Letter and author of Prelude To Meltdown (2007) and Financial Apocalypse (2011).’




The "Crimes" That Wrecked The Markets  Forbes / Robert Lenzner ‘CNN’s anchor in London, Richard Quest, raised the issue squarely today about trying to explain the “crimes” that have created this failure to recover from the 2008 recession and the fear of another  downturn in the economy that could wipe out many of the gains we have achieved. Quest, of course, did not mean felonies or violations of the law that would land people in prison. I think he meant crimes of bad policy, crimes of financial illiteracy, crimes of stupidity, crimes of poor leadership.

So, here’s my attempt to sum up my answer to Quest.

The powers-that-be saved  the Masters of the Universe on Wall Street by using trillions of loans, investments and guarantees that sent the signal that Finance was the nation’s Number One Priority.  This historic gift to finance meant that the growing disparity between the super-rich and the middle class would continue to widen, without anyone of our top policy gurus suggesting it was splitting our nation. Some academics even worry about the “crime” of pushing the middle class into poverty.

Nevertheless, there was no bold strategy left to help those out of work. It was a “crime” that the stimulus program did nothing to create any jobs in the private sector. Obama’s economic adviser in 2009 , Larry Summers, was dead set against a make-work program to put the nation’s skilled construction workers busy on repairing  the rusting infrastructure he finds distasteful at airports and railroad stations. Now, we are going to be given the sop of an infrastructure bank that couldn’t possibly be in place for years, if ever.

No question the handling  of the debt limit debacle was  “crime” of poor planning, no overall shred strategy and trying to effect a master plan for $4  trillion cuts with only days to go before the August 2nd deadline. Keystone Cops,  whatever you wish to call it caused a loss of confidence in the nation’s politicians; a kind of virtual “crime” on the public who deserved better. Much better. This entire episode removed the foundations to rational expectations for the stock market– and threw the nation into a madhouse of volatility and confusion.

I don’t know what to call the lapse in the markets faith in paper money– and the more-or-less steady rise in the price of gold from $850 an ounce 3 years ago to well over $1800 today.  There is no other stock, bond or commodity you could have purchased that had this magnificent performance. Well, maybe the shares of Apple, and some global commodity producers.

Moreover, it was a “crime” to do nothing about the obscene bonuses taken by the Masters of the Universe– who only were able to pay themselves in this way because of the federal bailout. No one has tried to  get back the fortunes taken away by Lehman’s Richard Fuld,  Countrywide Credit’s Angelo Mozillo–or either of the Merrill Lynch CEOs, who helped destroy their iconic firm. Now there’s a “crime.”

Then, there’s the  SEC’s unwillingness to reinstitute the uptick on short sales of stock– so that hedge funds and other speculators could not trigger sharp sell-offs in the stock market If you had this “uptick” rule back, every short seller would have to wait for a transaction at a higher price to  sell short– rather than the libertarian “crime” that allows them to pound a stock lower to make sure-thing profits. It’s a crime short sellers are able to shoot ducks in a barrel. Shocking lack of fairness. No wonder Aunt Sadie is fleeing.

No doubt there were “crimes” committed in the week of volatility, with gyrations that scared the public. These movements up and down were caused by the high frequency trading by computers owned by hedge funds– who are not investors– but in-and-out traders several times a day and who have no regard for fundamental values.  These Masters Of  The Universe have the ultimate power in American society because of their political contributions and lobbying.

I believe Obama’s health plan to be a “crime” because it was a sellout to the 5 giant health insurance firms that were given 4 years clear and free to raise their premiums without interference. It was a “crime” because Obama was told by leading Senators it was a terrible sellout of the citizenry.

I don’t know what to call the bankruptcy of fiscal and monetary policy.  In some existential sense it is a “crime” that we have run out of  fiscal and monetary ammunition to turn this  collapsing shock treatment around. It is a “crime that 300 million people will be looking for Ben Bernanke, Fed Chairman, to pull a rabbit out of a hat in Jackson, Wyoming next week, when central bankers are meeting.  QE2 came from last year’s meeting– but it created no jobs.

The same will be true after Labor Day when the much-ballyhooed Obama  speech on jobs is coming. I fear expectations are going to be terribly disappointed. Expect  rhetoric as in “We have always been a Triple A nation– and we always will be Triple A. ” That was a “ crime” of speaking mush, when 300 million people know better, and wanted to hear something meaningful. Not to have bold, kick-ass leadership at a time of crisis is a sad sort of a “crime.” 



Accounting Gimmics Resurface as Growth Flounders at TheStreet ‘-- Accounting gimmicks -- once the staple of the boom-boom stock market -- are on the rise as companies attempt to convince analysts and investors that they are profitable despite a sluggish economy, according to industry watchers. Accounting techniques of Groupon and Zynga were under the spotlight recently, with the Securities and Exchange Commission instructing both companies to adhere to more stricter and conventional accounting standards, causing them to amend their IPO offer documents.

The creative metrics in the IPO documents of recent social-media IPOs are reminiscent of the dot-com bubble when stocks were valued on metrics like "eyeballs", while fundamentals like revenues and profits were ignored.

 

Rebekah Smith, director of financial advisory services at accounting and consulting firm GBQ consulting, says accounting tricks and schemes are likely to start unraveling as we head into 2012 and the lag effect catches up. "The typical accounting fraud goes on for about 18 to 26 months before it is uncovered. The frauds that took place in 2009 are not going to surface until later in 2011 or into 2012."

 

Financial statement fraud like the kind that took place at Enron are rare. The Association of Certified Fraud Examiners estimates that such manipulation accounts for only 4.8% of total fraud cases, although it causes the most financial damage, with the median loss being more than $4 million.

 

But accounting gimmicks that focus on non-GAAP (Generally Accepted Accounting Principles) measures are rampant and they can be misleading.

Groupon, for instance, claimed that the marketing expenses incurred to acquire customers were "one-time investments" and hence they should be excluded from the calculations of operating income.

By that metric the company made an operating profit at $81.6 million in the first quarter of 2011, as opposed to an operating loss of $113.9 million under traditional accounting standards.

 

However, analysts were quick to point out the metric was absurd. "If you are going to capitalize acquisition costs, the onus is on you to show proof that acquired customers stay as customers (and actually buy products for many years)," Aswath Damodaran, Professor of Finance at Stern School of Business and a reputed author of textbooks on valuation, wrote in a blog post.

 

"With strong competition from other online coupon based companies (like LivingSocial), it is entirely possible that customers once acquired, are fickle and move on... If that is the case, the acquisition cost has a very short amortizable life and begins to look more like an operating expense," he wrote.

 

Zynga issued a restatement of its second quarter results saying it did not hew to accounting standards in the way it estimates how long people play its video games. That had the effect of understating revenues during the second quarter. While the impact of the Zynga's restatement itself was not substantial, it highlighted the murky accounting involved when it comes to new business models.  "There is a new market of publicly traded companies with business models that open more room for interpretation on how revenues and costs should be treated. We do see some aggressive accounting techniques" says Dan Mahoney, director of research at the Center for Financial Research and Analysis, a unit of MSCI that specializes in forensic accounting.

Smith of GBQ Consulting says there is a greater risk of financial statement manipulation at such new-age businesses. "We have a lot of new business models and people are still trying to understand how the finances of these companies work," she said. "Companies get to decide what to tell them[investors] on how their industry works. They decide what the metrics should be."

While in a traditional sector an astute analyst might call a company's bluff, it is harder when you don't have history as a guide. "We don't have a typical 10-year history. As a financial professional, you can't make a conclusion on what the financial metrics should look like," says Smith.

Mahoney at CFRA says companies with high valuations are also ripe for these sort of gimmicks, as they are under pressure to sustain valuations.

While in a traditional sector an astute analyst might call a company's bluff, it is harder when you don't have history as a guide. "We don't have a typical 10-year history. As a financial professional, you can't make a conclusion on what the financial metrics should look like," says Smith.

Netflix(NFLX) has been criticized in the past for its calculation of subscriber churn rate, which looks at the number of cancellations as a proportion of subscribers. Netflix's method has the effect of overstating the subscriber base, thus making the churn rate seem lower.

Analysts have over time learned to adjust for this inconsistency. And as it turns out, the movie rental firm has drastically limited the metrics it is willing to provide , saying that in 2012 it will no longer report churn, gross subscriber additions and subscriber acquisition costs.

Problem solved.

Stern's Damodaran says companies resort to these tricks because the market analysts simplistically assign multiples to a profit metric. All companies have to do is "make a change that affects earnings and you can change the valuation," he says. "Investors need to understand what Groupon's business model is, what their potential market is, who are they going up against."

--Written by Shanthi Bharatwaj in New York

>To contact the writer of this article, click here: Shanthi Bharatwaj. ‘



Morgan Stanley Biggest Welfare Recipient as Federal Reserve Lent Banks $1.2 Trillion During Financial CrisisWall St. Cheat Sheet



Dow:Gold Ratio and the Secular Bear Market at Minyanville  Toby Connor Aug 23, 2011 ‘However low the risk, large potential trades are now in the stock market, not in playing chicken with the gold parabola.

 As I have been warning investors for many months, stocks have now entered stage III of the secular bear market. Gold, on the other hand, is now in the final parabolic phase of a 2.5 year C wave advance.

My best guess was that we would see a Dow:Gold ratio of between 5-6 before this C-wave ended. The ratio was at 5.71 as of today. I think we may still have a little further to go on the downside for stocks and a little further upside in gold. So it's entirely possible that we could see a Dow gold ratio of 1:5 before the trends reverse.

http://image.minyanville.com/assets/FCK_Jan2011/File/August11/tobyc8231.JPG
Click to enlarge

However low the risk, large potential trades are now in the stock market, not in playing chicken with the gold parabola.

Cyclically the stock market is now in the middle of the timing band for an intermediate bottom. Presumably a sharp bear market rally in stocks will trigger a regression to the mean, profit-taking event in the precious metals market (the D-wave).

D-waves almost always test, and sometimes marginally penetrate, the 200-day moving average. I've illustrated in the chart above a rough guess as to where I expect the countertrend rally in stocks and the D-wave correction in gold to retrace.

Keep in mind that the fundamentals for gold have not changed. A D-wave is simply a profit-taking event triggered by an unsustainable parabolic rally. It has nothing to do with fundamentals. Once the D-wave has run its course, gold will enter a sharp snapback rally (the A-wave), after which it should consolidate for the remainder of the bear market in stocks.

Stocks, on the other hand, after what should be a very convincing bear market rally, will roll over and continue down into a final four-year cycle low, probably in the late summer or early fall of 2012.

Depending on whether or not the Fed tries to fight the cleansing process, or Ben Bernanke tries to stop the bear market with another round of quantitative easing, stocks should either test or breach the March '09 lows.

Either way I expect that 2012 will go down as one of the worst years in human history. Certainly in the same category as 1932, if not worse …’

 

Is the Market Forecasting War?   { Kind of a ‘large dart board’ in terms of ‘educated guessing’ in light of the perma-war ‘bent’ of these perma-war ‘bent’ nations; viz., ie., u.s., israel, europe, etc.. }  [ If so, and if this writer’s correct, all nato’s and america’s misguided actions in the Mideast will be viewed as an attempt to weaken Arab nations for the benefit of war-mongering israel and will never be forgotten as such, to the substantial detriment of the dying so-called western alliance. ]



End Of Cycle Smelling Like Dow 3K, Gold 3K  Forbes /  Bill Bonner  Listen up, dear reader herein we announce an historic Daily Reckoning forecast.  Here’s your north star, your compass, your GPS to the future. Print it out. Paste it to your refrigerator:

About the turn of the century, two markets turned Gold turned up Stocks turned down These major trends will end Whence they meet

Our view is that the bear market began in January 2000. The feds fought it off with two huge extravaganzas of spending — the first beginning in 2001 the other after 2008.

Stimulus does wonders for stock prices but it no longer works for the economy that sustains them. For every dollar that the Fed has put to work to fight the crisis since 2008, for example, it has produced only 80 cents worth of GDP. It didn’t work.

Fighting a credit contraction with more credit is a losing proposition. Eventually, investors are bound to realize that stocks are headed down. Eventually the bear market will resume. And eventually it will come to an end.

But when? Our guess is that it will end when the Dow and the price of gold arrive at the same point — probably around $3,000. Whatever the number, you’ll be able to buy the entire group of Dow stocks for the price of one ounce of gold.

Of course, our view is a minority one. Warren Buffett doesn’t buy it. Most investors don’t buy it. We don’t even suggest that you buy it, dear reader. Just remember it. If it turns out as expected, we want to be able to say ‘We told you so.’

And if it doesn’t work out? Please have the grace to forget we mentioned it.

We would like to be able to predict the future, but we’ve never gotten the hang of it. We’re just guessing.

But since we’re just guessing, we don’t see why we should hold back.

We’re also guessing that…

…the weight of so much debt is depressing growth…and will soon depress stock prices too…

…that the economy is becoming zombified from too much government money…especially the military…

…that Mr. Market is ready for a long bear market anyhow; he’s tanned, rested, and ready to go to work

…that the US is following in Japan’s footsteps…towards a long period of on-again, off-again recession

…that the recession of ’08-’09 in the US never actually ended…

…and that stocks will go down over the next 5-10 years until they finally hit a real bottom.

Our guess is that gold goes down, shakes out the speculators and weak investors and then, perhaps a couple years from now, perhaps longer — begins its third and final phase.’

 

Back-to-School Sales Looking Blahat The Wall Street Journal

 

CHINA, EMERGING MARKETS POINT TO DOUBLE-DIP 2011 August 24 http://www.iphone2die4.com/2011/08/24/china-emerging-markets-point-to-double-dip   iphone-robot ChartProphet submit: The collapse of the emerging markets, especially China, India, and Brazil, will have a huge ripple effect on the rest of the world’s economies, and will plunge most countries back into a global recession.One of the major drivers of the markets over the past two years has been the “unstoppable” and highly promising future of the emerging markets, especially China. As millions of inhabitants in emerging countries begin to enter the “modern” world and middle class, their consumption and their effect on the economies of countries all over the globe increases. And as millions of people contribute to the growth of China, India, and other countries, they will require extra food, energy sources such as gasoline and oil, cotton for their increased consumption and clothing needs, industrial metals for their new cars and technology, and many other materials that a growing and evolving population needs…’

 

 

How much higher can Apple shares go without Jobs? (Reuters) [ Or the market without jobs? … The answer euphemistally is not much … but more accurately should be not all and down quite a bit! ]

 

 

Arguments for Being in the Crash Camp   Conor Sen  Aug 29, 2011 ‘If you want to take risk, only own things you're willing to own in a down 20-30% tape, because that's what we could see over the next month.  ‘This piece is going to read a bit like an inner monologue in the hopes that seeing how I wrestle with conflicting ideas may help with your own thought process. One of the responsibilities of putting your thoughts online for public consumption is only writing when you think you have something worth reading. After awhile you accumulate a portfolio of pieces and can see common themes in your writing, the struggles you've had, and whether you've been on the mark or not. And this summer I've written primarily about three topics: 1) the 2011 consumer tech IPO names led by Groupon, LinkedIn, and Zillow, which I've done a reasonable job with, 2) pessimism about the debt ceiling deal being resolved early due to the intransigence of the 2011 GOP, which I also feel I analyzed well, and 3) the ongoing macro tug-of-war between compelling valuations and the escalating European debt crisis, which I've gotten wrong.

The closest I got was in a June 24 piece where I wrote,

"My experience in 2007-08 taught me that in credit contagions understanding these dynamics is all that matters. Charts don't matter, macro data doesn't really matter, and until the contagion stops valuation doesn't really matter either. A $1 bill could trade for 70 cents if firms need to raise capital."


That's what I fought earlier this month, convinced that valuations for some blue-chip firms and not-as-bad-as-people-think macro data would be good enough. It hasn't been. The problem is, I thought about the issue too narrowly, focusing only on European sovereign spreads without seeing the second-order effects those spreads would eventually have. As sovereign spreads for the European periphery widened, governments responded by imposing austerity measures, which have now flowed through to the point where Europe may be back in recession. Here's one measure of the trend in economic activity for the key European countries.

http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet1.jpg

With sovereign spreads stressed and economic activity rolling over, European banks have been under pressure, both the equity and of course the credits, with credit default swaps for European banks at wider levels than they were in 2008-09.

http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet2.jpg

The problem with this is that credit spreads and equity prices are intricately linked, as this chart from Goldman Sachs shows comparing the spreads of the key iTraxx Main CDS index with the STOXX 600 index, Europe's equivalent to the S&P 500.

http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet3.jpg

And in a leveraged, interconnected world, a systemic problem somewhere flows everywhere else, as investment-grade and high-yield credit indices in the US show.

http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet4.jpg

The key question I've asked this week is: Can European banks, or Bank of America, fund themselves right now? The answer is no. That's a problem. If economic data were getting better, even on a green shoots basis, that might be one thing, but just about every data point we've gotten out of Europe recently, or Philly Fed here in the US, has been negative on a second derivative, and in many cases, a first derivative basis.

If we knew that fiscal and monetary policymakers were ready to fire bazookas and gas up their helicopters, that'd be a different story. In 2008-09 we got a big fiscal stimulus package out of China and a lesser but still sizable one in the US. Today we have both the US and Europe looking to cut spending, not increase it. On the monetary policy front, the ECB actually raised rates this summer, and Ben Bernanke's speech at Jackson Hole on Friday shows that either he doesn't think additional stimulus is needed, that it won't help, or that there's too much political risk to take bold action, precisely the problem he said hampered the Japanese in his famous 2002 speech on deflation.

Most worrisome of all might have been comments out of German Chancellor Angela Merkel last weekend, when she said, “Politicians can’t and won’t simply run after the markets. The markets want to force us to do certain things. That we won’t do. Politicians have to make sure that we’re unassailable, that we can make policy for the people.”

This is after a 25% drop in the DAX, and the leader of the country that holds all the cards in Europe says that she won't be bullied by markets. The Bernanke/Merkel/Trichet put may exist, but its strike price appears to be a lot lower than many thought.

When nearly every major bank in Europe has a credit spread north of 300bps or is headed there in a hurry, I'm not going to make the argument that so-so US economic data, solid earnings, and attractive valuations will win out in the short term. Markets are cruel and merciless when it comes to leveraged institutions under financial stress. In 2008-09 to combat this we got TARP, the AIG (AIG) bailout, the stimulus package, the Temporary Liquidity Guarantee Program (TLGP), a whole host of other short-term funding programs from the Fed, and finally in March of 2009 we got green shoots, second derivative improvements in the economy. Today we have, "Most of the economic policies that support robust economic growth in the long run are outside the province of the central bank." If the SPX went to 700-800 we would see multi-generational bargains for a whole host of names, many of which would trade at around cash value plus a 2-3 multiple on earnings. But structurally, there's no reason why it can't happen. If you want to take risk here, only own things you're willing to own in a down 20-30% tape, because that's what we could see over the next month.’

 

 

 

Stocks Woosh Higher in Vacuum, Now Perfectly Poised for Disappointment at The Wall Street Journal

 



 

What to Expect Next From the Markets at Minyanville  Jeffrey Cooper Aug 29, 2011  ‘Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple (AAPL), Amazon (AMZN), Baidu (BIDU), IBM (IBM), and Caterpillar (CAT) on Friday. That is why the market is so dangerous here ‘   ‘From a technical perspective, the markets are looking dangerous right now. On Friday, a big buy program was run for Ben Bernanke’s speech after running the stops and getting traders short.

The S&P buckled after breaking the 1154 mid-point of the recent range, running the stops and trapping shorts for good measure on a Pinocchio of the key 1140 support, as offered in the last report.

However a first hour low was scored in a mirror image of recent first hour highs and I sent an alert to cover shorts. Combined with Bernanke’s speech, the flip was switched to save a poor weekly close when the S&P recaptured 1154.

A 10 minute chart of the SPY shows a downside ORB (a break of the opening range defined by the first 30 minutes) to flush the stops, and then an ORB Reversal back through the level of the downside pivot, followed by a powerful Reverse ORB on a thrust back through the top of the opening range implying a trend day to the upside.

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/ARCX_SPY_10%20--%20SPDR%20S&P%20500%20TRUST.jpg

The promise of the Catapult ORB -- first to the downside then back to the upside -- was further fulfilled on penetrating topside lateral resistance above 117 SPY.

In so doing, the notion of a Fed Cha Cha Cha was turned into more of a jitterbug for the shorts to run for cover.

The ensuing extension by the SPY led to a retracement back to the low of Thursday’s high bar.

Thursday gave a first hour high while Friday gave a first hour low as the robots play ping pong with tape.

One might fairly call Friday the “case of the missing ‘cha’".

Typically following Fedspeak, there is a sequence of 3 moves in opposite directions with the third move being the genuine bias.

In Thursday morning’s report I suggested that the direction following the first hour on that day should be the bias into the weekend. There was a change of character in the dynamics which the Reverse ORB did a good job of identifying.

There is another short term change in character implying a continuation on Monday morning (whether that will define a first hour high again near the important 1180ish resistance remains to be seen).

That short term change in character is set up by Friday’s Reversal of a Reversal, or what I call a ‘Kaiser Soze’.

Why? The important Three Day Chart Turned down on Monday as the S&P traced out 3 consecutive lower daily lows. In addition, Monday saw the Weekly Swing Chart turn down.

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/SPXweeklyJulyb.jpg
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The fact that the turndown was marginal and defined a low immediately in terms of both time and price was a bullish indication of a short term test and a potential short term “W” bottom on the daily charts.

The takeaway was a multi-day rally which played out, finally satisfying a kiss of the overhead 20 day moving average which the S&P failed to accomplish on the first rally off the lows.

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/INDEX_$SPX_D%20--%20S&P%20500%20INDEX%20%7BDelay20%7D.jpg

The tag of the 20 dma, which played out on Thursday, was the first test of that trendline since the Cascade Setup began in July.

A pullback to the 20 dma is referred to by many traders as the Holy Grail for its effectiveness in defining a reversal point -- especially the first time.

Like clockwork, the S&P was rejected by the 20 dma on Thursday in concert with a turnup of the Three Day Chart. This defined another high, setting up a continuation trade for Friday to the downside.

However, a funny thing happened when the bears pressed the case of the “yes we have no QE3 Bananas for you” speech at the Jackson Hole forum -- the S&P left a Reversal of a Reversal, stopping right at the 20 day moving average and flirting with an extension above it this morning. This would coincide with a breakout over a trendline from late July.

Not all breakouts are created equal, as we saw with the breakout to a new high in May this year and also on the short-lived trendline breakout into the important July 7th pivot high.

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/SPXdailyAprilb.jpg
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My rule of thumb is that breakouts and upspikes in persistent bear phases are made for the selling. However, as the weekly chart of the S&P shows, the index will turn its weekly chart back up on trade over last week's high of 1190.68 (Thursday’s first hour high).

The normal expectation is that this would set up another high, but because of the pattern of the W bottom, the constructive behavior on last week's turndown of the Weekly Swing Chart, and because the S&P is poised to pop over its 20 dma this morning which coincides with a breakout over a declining trendline, there is a likelihood that the bears will keep their claws in their pockets and the bulls may snort a little. While I would give the market its due on the upside if the action is constructive following the turn up of the weekly chart -- which the futes suggest will occur near the open -- I am not too interested in being long more than a few hours and overnight.

Be that as it may, a further change in short term behavior and constructive action following a turn up of the Weekly Swing Chart suggests a move to/over 1208, the recent swing high.

 

At the same time the the 55-day panic point from the July 7th pivot window does not close until August 31st, so this is tricky here. However, the market is not a fine Swiss watch and when it comes to these cycles one must allow for plus or minus a few days. I think we should key off the behavior following a turnup in the weekly chart and the action following the first hour. If the trend is still in runaway down mode, another high could be defined quickly. I would exercise some patience here and let the market speak.

The cycles suggest another short-term plunge into September 3rd and then a bigger rally to 1220 or higher into/around the end of the first week of September to September 11th. It then suggests another plunge that undercuts the 1100 low to possibly as low as 1018ish. If a flush of the lows plays out under 1100, it could mirror the pattern from 1937 or 1938. In other words it could be a fractal of the first waterfall decline with a marginal undercut, or we could see a deep flush of the lows.

The takeaway is that not all W bottoms are created equal. Often a W V pattern plays out. This is the pattern that played out from the triangle/consolidation in late 2008 to the “V” in March ’09.

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/DJ-30%201937%20-%201938%20final%202.jpg

While the institutional bulls are caught long on the trap door setup from August, a little strategy is required: above 1180 and then 1200 could see the S&P test 1220ish. This marks the double tops from April/November 2010. When the market knifed though those prior highs, which should have been ultimate support if the trend was still healthy, the Head & Shoulders Top projection to 1150 at a minimum became irrefutable. Those prior peaks near 1220, now broken, should offer substantial resistance. However, with many funds trapped short and everyone looking for a test of the neckline near 1250/1260 and a test of the 200 day moving average as it turns down, reconfirming the sign of the bear, it’s anybody’s guess if the sellers let it get back there -- at least in September. Perhaps a test of the 200 day plays out after a ‘W V’ and a flush of the lows, leading to a big “Bankers Rally”/Christmas rally to rescue bonuses, like in 2007.

Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple (AAPL), Amazon (AMZN), Baidu (BIDU), IBM (IBM), and Caterpillar (CAT) on Friday.

That is why the market is so dangerous here -- because despite big gains in these names when a big fund turns around to liquidate, they find few substantial bids on the way back down and these same stocks can be down 4 and 5 points again with another 400 point DJIA down day. When exactly that next break comes is anybody’s guess, but cycles suggest it is sooner rather than later. I would be patient about being too long for more than a few hours to a day or two for the time being. With everyone looking for the Big Backtest of the 200 dma, it is also anybody’s guess as to when that arrives -- from here or following a flush out of the lows. With everyone eyeing perceived targets of S&P 1220 to 1250, will the market just burn out here with everybody waiting and with an undercut of the lows having to play out before a better rally into year end? It is interesting that the war cycle from 1990 -- when Iraq's invasion of Kuwait on August 2nd precipitated a market waterfall -- that there was a July pivot high as there was this year.

In 1990 there was no low until October. August 2, 1990 was 252 months ago, tying to the big September 3rd historic cycle (which includes the 1929 all time high). In addition we have the 120 month anniversary of 9/11 and that Spike & Reversal pattern coming up, so I think a lot of volatility remains in store and patience and discipline will be critical no matter how good a short term change in character appears.

Strategy: I would look to scalp long above 1170 and scalp short below 1160. Monday may hold up, but it will be interesting to see if we reach the high for the week today -- in bear phases the first hour of the session often times scores the high for the day. If Tuesday is a reversal day, I suspect the market will trend down into the Labor Day weekend. If the market rallies up into the weekend it should define another ledge and jumping off point.

Gold broke according to expectations early last week from just above 1900. Another short sets up in the 1820 zone if it hasn’t already topped with a turnup of the daily charts on Friday. Ditto iShares Silver Trust (SLV). The next break should target 1660 and below that 1590.’

 

 

Obama's Legacy: A Failed Recovery & Double-Dip Recession Forbes / Mariotti  There will be no significant recovery in the United States of America while Barack Obama is President.  The evidence is overwhelming:  everything Obama has tried to fuel a recovery (with his Democratic allies in Congress) has failed.  Statistics claiming jobs saved by the stimulus package were mostly fiction, and cost American taxpayers about $275,000 each.  Nearly 2-1/2 million fewer Americans have jobs than before the stimulus.

Barack Obama has been President for 30 months—2-1/2 years. He spent the first year obsessed with passing Obamacare, a program that doesn’t create jobs, but might destroy a lot of them.  He “bailed out” GM, but many believe that his interference didn’t save GM; it merely cost taxpayers an extra $15-20 billion, and stole from legitimate investors to buy off the UAW.  His broken campaign promises are too numerous to list.  At some point, his statute of limitations on blaming Bush runs out.  The latest joke is that the White House is that named the location of East Coast earthquake near DC “Bush’s Fault.”

Obama himself said, “…that after three years, if the economy wasn’t fixed he should be a one-term president.”

Clearly the economic malaise started on George W. Bush’s watch.  Its causes will be argued for decades, but most of them are traceable to irresponsible lending and excessive spending— both by government and the American people.  The trouble that started before 2008 is directly traceable to actions (or inactions) of Bush and GOP allies in Congress.  They spent America into the start of the current deficit during his eight years in the White House.

But that was then, and this is now. Since Obama took office the situation has gotten much, much worse. Obama has run up the deficit at more than twice the rate Bush did. During the first quarter of 2011, the US economy “barely grew” —at 0.4%—that was followed by second quarter’s “anemic growth” of 1%.  This was during the period when the Obama recovery was supposed to be well underway.  Employment data is unremittingly terrible:  new jobless claims are stuck at 400,000+/- each month, with job creation well below what it takes just to absorb new workforce entrants.  More Americans have been unemployed longer than ever in our history.  And looking ahead, the news is not good.

This is Obama’s failed American recovery, and in the near future, Obama’s impending double-dip recession (thanks in no small part to his three consecutive years with Trillion-dollar in deficits that have inflated the national deficit to soaring heights—$14+ Trillion.)  That legacy clearly belongs to President Barack Obama and with help from the Congress led by Harry Reid and Nancy Pelosi during 2008-2010.   Thanks to them, our country hasn’t even had a budget since Obama took office.

The latest Obama Blame Finger pointing focuses on the “Tea Party” as “extremists” who have a problem with astronomical deficits as far as the eye can see.  (Pointing at Bush is getting a little old since he’s been out of office for 2-1/2 years).  Obama needs a new scapegoat.  The problem with the Tea Party is that it is like the child in the fairy tale, “The Emperors New Clothes.” The child is reviled for pointing out that the emperor is naked.  Thus, the Tea Party is not wrong, just unwelcome.

Now Obama also wants to point the Blame Finger at the GOP House for the downgrade in the US debt rating by Standard and Poor’s.  It seems that he believes that everyone else is to blame but him. That downgrade was predestined by the combination of irresponsible spending and Obama’s clueless attempts to throw money at a recovery to no avail.  Spending $1.50 for every dollar of revenue, running trillion dollar annual deficits is reason enough for a downgrade in the US debt rating.

Face it folks:  This is Obama’s failed recovery. And if (or when) it comes to pass, this “double-dip” recession (just around the corner) is his too.

Make no mistake, there IS plenty of blame to go around.  About 75% of Americans are fed up with both Obama and Congress.   The conservative and liberal factions of the House and Senate behaved badly in the recent debt ceiling negotiation.  President Obama wanted to stay above the fray so he provided no leadership. He didn’t even know how to bring the opposing viewpoints together.  He talked about bi-partisanship and consensus, but his actions disproved his words.

Until the president saw an impending disaster, he sat on the sidelines, afraid to do anything that might hinder his reelection campaign.  Then, when his intervention didn’t help, and arguably hurt the progress, he grew impatient, petulant and angry.

John Boehner, however, did an admirable job trying to build a compromise deal on the debt ceiling, and get his own Caucus to support such a plan.  Except, Obama was attacked by his liberal base for even considering the “grand bargain,” so he came in and dumped another “raise taxes more” demand on Boehner.  I’d have walked out too, which Boehner was right to do.

But at least they were arguing about the right thing: how much to cut spending and how.

The Tea Party’s desire for fiscal responsibility is right, but it doesn’t mean that tax revenue can’t be increased.  It can; how it’s done is what matters.  The tax code desperately needs to be restructured.  Simply digging in on old positions doesn’t help; it hurts.  The goal is to “get the country working again,” and grow our way out of this mess.

The one phrase of President Obama’s that I agree with is “Country First.”  But John Boehner was the one who tried his best to put “Country First.”  If Obama truly chooses that as his 2012 campaign slogan, it will reek of hypocrisy.

If the members of Congress would put 1) country first, 2) constituents wishes next, and 3) personal agendas last, they might be able to work together to find a way out of this mess.

What happens in the Super-Committee of Twelve will be both revealing and predictive.  Either America’s Congressional leaders will—or won’t—put "country first" and try to find common ground and reasonable compromises to lead America out of this mess.

Whatever happens, this failed recovery and impending recession belong to President Barack Obama.  His condescending explanations of why “we Americans” don’t get it, how “this will take a long time,” this recovery, and his “class warfare” about “millionaires and billionaires” versus the “common folk” are all wearing thin.

This kind of rhetoric won’t solve America’s problems.   It takes strong, informed, and experienced leadership to get through a mess like this one. We need a fixer, not a hypocritical speechmaker in the White House.  Barack Obama is not that man.  A wise man once told me, “The person who got you into a problem is seldom the one who will get you out of it.” That’s why there will be no recovery on Obama’s watch…’

 



Chart Shock: The REAL Unemployment Rate Is 22% The Daily Bail September 2, 2011 http://www.infowars.com/chart-shock-the-real-unemployment-rate-is-22

http://dailybail.com/storage/chart-real-unemployment-3.gif?__SQUARESPACE_CACHEVERSION=1314981227699

’It’s now above 23% with the August update.  Details from John William’s Shadow Stats.’  Shadow Stats ‘The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers. The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.’

 

 

 

Deja Vu All Over Again: Total US Debt Passes Debt Ceiling… In Under One Month Since Extension  Sep 2nd, 2011 News (ZeroHedge) — ‘Remember when one month ago the US, to much pomp and circumstance, not to mention one downgrade, announced a grand bargain raising the debt ceiling from $14.294 trillion to something much higher, with a stop gap intermediate ceiling of $14.694 trillion, or $400 billion more. Well, as of today, or less than a month since the expansion, total US debt is at $14.697 trillion. Yep – the total debt is again over the ceiling, which means the US debt increased by $400 billion in one month. Score one for fiscal prudence. And while the total debt subject to the limit is still slightly less, at $14.652, one week of Treasury auctions and will be time for Moody’s to justify again why the US is a quadruple A credit.  http://www.usagold.com/pete/newsviews/DebtCeiling.jpg 

 

 

 

 

Global Recession: Right Here, Right Now at Minyanville  Mike Mish Shedlock Sep 02, 2011 Why are we talking about avoiding recession when the global economy is clearly in one and fundamentals are horrendous?

 

  It's time to stop debating whether or not the US or Europe is headed into recession. The facts show the entire global economy is in recession.

Global Recession Supporting Data-Points

  • Euro zone’s manufacturing purchasing managers’ index fell to a two-year low of 49.0 in August, down from a preliminary reading of 49.7. (Business Insider)
  • PMI’s contractions seen in Ireland, France, Italy, Spain and Greece. (Business Insider)
  • Germany’s manufacturing PMI slowed to its lowest level since September 2009, slumping to 50.9, well below an initial estimate of 52.0. (Business Insider)
  • US Manufacturing ISM ex-inventory Growth is in contraction (Mish)
  • Japan's PMI fell at three-month low (Financial Times)
  • PMI readings in Switzerland and Sweden dropped (Financial Times)
  • British manufacturing PMI fells 49, hitting a 26-month low (MarketWatch)
  • Germany private consumption fell for first time since Q4 2009; Manufacturing growth slowest in 23 months (Reuters)
  • Japan capital spending plummeted 7.8%; In Q2, expectations were for 1% increase (RTT)
  • US construction declines 3.5% vs. same period in 2010 (US Census Bureau)
  • China exports to US contract, PMI is barely above contraction (Reuters)
  • Container traffic at Port of Long Beach drops 3.17%, smack in face of normal Christmas season ramp-up (Bloomberg)
  • Canada GDP unexpectedly declines, led by a 2.1% drop in exports (Bloomberg)
  • Brazil unexpectedly cuts interest rates .5% to combat recession; 62 of 62 analysts miss call on rate cut (Mish)
  • Taiwan's PMI dropped to 45.2 in August, the lowest reading since January 2009 (Reuters)
  • German economy grew just 0.1 percent in the second quarter (Reuters)
  • Switzerland economy grew at its slowest pace since 2009, as a record strong Swiss franc bites into exports. (Reuters)
  • Retail giant in Australia warns of massive price deflation and falling sales, "Hardest Christmas in Retailer Lives" coming up (Mish)
  • US see zero jobs growth, unemployment rate remains flat at 9.1% (Mish)


Ten Thoughts

1. Prior stimulus in the US is dead, having run its full course.
2. There is no incentive in the US Congress for more stimulus.
3. Austerity measures have yet to hit Italy and France.
4. Austerity measures will continue to bite Spain, Greece, Ireland.
5. Germany's export machine will die without the rest of Europe.
6. QE3 will fail much sooner than QE2 as interest rates already extremely accommodating.
7. Gold may respond well to competitive currency devaluation schemes.
8. The Eurozone is highly likely to breakup, although timing is unknown.
9. Global equities and commodities are priced for perfection.
10. Perfection is not happening.

 Talk of avoiding recession when the global economy is clearly in one and fundamentals are horrendous is sheer lunacy. For more, see Mish's Global Economic Trend Analysis here.’

 

U.S. Postal Service nearing bankruptcy as email asserts its dominance [Good! Let UPS take them over … the usps is totally unreliable]

 

 

Albert Edwards Has Another Reason You Should Worry About Profits at The Wall Street Journal  Mark Gongloff

http://s.wsj.net/public/resources/images/OB-PM490_margin_K_20110906142805.jpg

‘Brendan posted earlier about how Citigroup is getting worried about profit margins. They’re not alone — Soc Gen’s in-house Dr. Doom, Albert Edwards, has a note today with his own take on the subject.

Shockingly, Mr. Edwards’s take is downbeat!

While Citi focused on the impact of government spending on corporate profits, Mr. Edwards zeroes in on the recent collapse in productivity and surge in labor costs and what they say about margins:

Last week the BLS revised the unit labor cost rise in Q2 up from 2.2% to 3.3% quarter over quarter. US non-farm business unit labour costs are now rising by 2% year over year. That is very bad news for profits. Bad news for equities. And because the pace of ULC is a key driver of inflation (upwards in this instance), it is bad news for an increasingly criticised and divided Fed.

Since labour costs overwhelmingly dominate corporate costs, trends in productivity are crucial to the pace of growth of company profits. If unit labour cost growth is below unit price inflation, then unit margins are expanding. This, together with unit sales growth (and the less important unit non-labour costs), arithmetically determine profit growth.

Typically, productivity growth tends to ebb and flow with the economic cycle – i.e. productivity tends to rise as the economy accelerates and vice versa. Therefore unit labour costs tend to fall sharply early in economic recoveries (as has happened recently), but typically begin to rise and eventually exceed output price inflation later in the cycle.

When unit labour costs start to rise quicker than output prices, as is the case now, this tends to exert an upward pressure on inflation as companies try to maintain margins. The pass-through of this upward pressure on inflation is largely determined by the pace of the cycle. If demand is robust, inflation will rise. If demand is weak and companies cannot pass on cost increases, margins and profits get crushed. That is the tipping point we have now reached.

And Wall Street analysts, in a truly shocking development, actually seem to be paying attention, Mr. Edwards writes:

[W]e should not be surprised at the pace of deterioration in analyst earnings optimism: in fact we have seen a near record rate of decline in US estimates over the past six months. In Europe things are even worse! As Andrew Lapthorne shows in this week’’s Global Equity Market Arithmetic, European (ex UK) the level of analyst optimism has now dived to 24%, a level only ever reached in recession.’

 

 

 

Why Every Investor Needs to Time the Market Breakout  ‘In tumultuous times conventional wisdom suggests buying then holding high quality, blue chip, dividend paying stocks for stability. The big idea is to avoid "timing the market" by extending the time frame beyond the current day, month, year or even decade. The value/yield camp tends to view volatile markets, such as that of 2011, as a chance to add to a portfolio while flighty "traders" panic in and out of stocks.The mathematical fact is those who have bought and held stocks over the last 3, 5 or even 10 years have lost money, either on an absolute basis or relative to inflation. Missing the 50% drop of 2008 didn't require intuition, charting or sophisticated financial analysis. Selling the news when Bear Stearns got sold for $2 got you out of the S&P500 well over 1,250. Selling the news of the Lehman collapse got you out of stocks well over 1,200 on the S&P. Once out, investors had two years to get back into the market below where they made their exit. I don't particularly regard stepping aside as trading; it's common sense. If investing in this manner is a mug's game, buying and holding forever, putting Blue Chips in a drawer forever, or dollar-cost averaging have been tantamount to financial self-abuse…’   This Is a Secular Bear Market and The End of Buy and Hold … and Hope http://www.albertpeia.com/endofbuyandhold.htm Brian Rezny June 03, 2010 ‘Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years…’  [ This was true and among my conclusions even back in 1977 when I did my MBA thesis: MBA Finance, NYU GBA, 1977. It most assuredly is glaringly true today.  Fed Economists Predict A 15 Year Bear Market For Stocks Aug 23rd, 2011 News (BusinessInsider)  ,  A Decade of Decline in Equity Markets Faisal Humayun [ This is a must read and explains how the market’s been artificially propped, the dow relative to hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was trading at 11,357 levels at the beginning of the year 2000. More than a decade later (as of beginning July 2011), the index is at 12582 (11,297). Therefore, the index has gained 11%  (-0-% as of this day) in the last ten years…’ Yet, the inflationary dollar (declining) debasement rate was 31%. (-31%) {See the inflation calculator infra – and that’s just the government (inflation) numbers … reality is much worse!} Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before at lightning computerized speeds enabling the high-frequency trades that are commissioned in unprecedented large volumes; a big net negative in real economic terms.]   



 

Prepare For Recession And Bear Market at Forbes Sy Harding, ‘Brace yourself for a recession.

Central banks around the world seem to be doing so, making little effort to prevent it this time around, resigned to letting the business cycle play out.

Stock markets around the world also seem to be doing so. In anticipation of economic slowdowns that won’t slide all the way into recessions, stock markets normally decline only into corrections (declines of less than 20%). But they plunge into bear markets when recessions loom.

And global stock markets outside of the U.S. are already in full-fledged bear markets. That includes 10 of the world’s 12 largest economies, the exceptions being only the U.S. and Canada.

In order of the size of their economies, at the recent August lows the stock market in China, the world’s second largest economy, was down 23% from its November peak, Japan down 21%, Germany down 30%, France down 29%, the United Kingdom down 21%, Brazil down 33%, Italy down 39%, India down 25%, Russia down 28%, and Spain down 29%. The exceptions were the U.S. and Canada, which at their August lows were down only 16% (the Dow) and 18% respectively.

The recession and bear market are coming to the U.S. too, and may have already arrived.

You can be sure of that because it’s been one world economically for years, and historically global economies and stock markets tended to always move in and out of recessions and bear markets together even before their dependence on each other became so pronounced.

You can be sure of it because central banks seem willing to let it play out this time as in days of old, without intervention.

In the financial crisis of 2007-2008, it took a massive coordinated effort by global central banks to pull the world back from the brink of what would have been a total global financial collapse.

But when their economies began to slow again in 2010, without the world being on the brink of financial Armageddon, major nations outside of the U.S. were content to let the business cycle play out normally, arguing against the U.S. Fed’s decision to jump in with its QE2 stimulus efforts.

Indeed, while the Fed was making that massive monetary easing effort, central banks in Asia, Europe, and South America were tightening monetary policies and raising interest rates to ward off rising inflation, and to tackle the government debt crises created by their 2008-2009 bailout efforts.

The Fed’s QE2 effort pushed a flood of additional dollars into the global financial system, spiking the prices of commodities and paper assets like stocks, but had no lasting effect on even the U.S. economy.

This year, as global economies again slow significantly, central banks outside of the U.S. again seem content, or at least resigned, to letting the business and economic cycle play out, even though it likely means a global recession.

They refrain from saying anything too negative that might make matters worse, but for instance, this week the central bank of Brazil, which actually has one of the world’s strongest and fastest growing economies (but highest rate of inflation), warned that this downturn in global economies will not be as severe as in 2008-2009, but will be more prolonged.

The Financial Times reported Friday that “As the Organization for Economic Cooperation and Development’s forecasts showed on Thursday, the near-term economic outlook for the Group of Seven is dire, yet the mood is one of resignation. . . . Finance ministers across the G7 are searching for ways to explain their lack of likely coordinated action.”

And even in the U.S., the Federal Reserve has been clearly transparent about its reluctance to intervene this time.

With the economy far weaker than it was when the Fed intervened with QE2 last year, Fed Chairman Bernanke continues to say the Fed has some tools it can use if necessary, but will wait and see. In his most recent speeches he cautioned that the Fed is limited in what it can do anyway, and called for Congress to step up to the plate.

Thursday evening, President Obama did call for Congress to step up to the plate and pass his $450 billion jobs bill.

But even if the proposal should get through the political grinder of the grid-locked Congress, it would be too little too late by the time it could be implemented.

So prepare for a recession and bear market.

Hopefully investors learned from the 2000-2002 and 2007-2009 bear markets that Wall Street’s advice to diversify into ‘defensive’ stocks won’t do it. As I’ve shown you in previous columns, so-called defensive stocks, defensive because they pay high dividends or have been around a long time, are dragged down just as far as any in a bear market.

Back in ‘the old days’ the call of successful investors in times like this was that “cash is king”. Even receiving little to no interest income on cash was better than experiencing a 30 to 40% loss.

These days investors are better served. The availability of ‘inverse’ mutual funds and ‘inverse’ exchanged-traded funds, designed to move up when markets move down, make them the new king in bear markets. Cash may be better than losses, but the opportunities for 30% profits while others are experiencing 30% losses are even better.

In the interest of full disclosure, I and my subscribers have already taken double-digit profits from positions in the ProShares Short S&P 500 etf, symbol SH, and ProShares Short Russell 2000 etf, symbol RWM, and we’re looking at others.’

 

 

4 Bearish Mega Trends   Simon Maierhofer, September 9, 2011, ‘In 2004, Daniel Simons of the University of Illinois and Christopher Chabris of Harvard University conducted an experiment that was as simple as it was fascinating.

If you want to be part of the experiment, watch this video before you read any further.

The Experiment

There are two groups of three people each. One group is wearing black shirts, the other group white shirts. The assignment is to watch how many times the players wearing white, pass the basketball.

If you counted 15, you are correct. But more importantly, did you notice the gorilla? While you were counting passes, a woman dressed in a gorilla suit walked slowly across the scene, stopped to face the camera and thumped her chest.

Half of the people watching the video with the intent of counting passes did not see the gorilla. The experiment illustrates the phenomenon of unintentional blindness. This condition, also known as perceptual blindness, prevents people from perceiving things that are in plain sight.

For most of 2010-11 Wall Street was so enamored by the magical powers of QE2 that it forgot about the 800-pound gorilla - the economy that wasn't improving. In fact, the economy continued deteriorating in plain sight.

There are five bearish mega trends that may draw stock prices much lower over the coming years. Here are the five mega trends (and what will make stocks rally in between).

U.S. Deficit

For a moment, take a mental journey with me back in time. We are now in early 2008. The major indexes a la S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI), and Nasdaq (Nasdaq: ^IXIC) are slowly coming off their all-time high, but the collapse of Lehman Brothers has not yet hit the news.

Unbeknownst to most, the perfect financial storm is brewing. Once the storm hits, it is much worse than anyone expected. But, the eventual damage is limited. Why? Because, the government steps up and does what it takes to prevent the financial system from failing.

Today has the feel of early 2008. Another perfect storm may be brewing. Will the government be there to do what it takes to support 'too big to fail?' No! In 2008 financial companies were in trouble. In 2011 entire countries (look at Europe and the U.S.) are struggling to escape the grip of delinquency.

A Decelerating Generation

Starting in 2011, more than 10,000 baby boomers a day will turn 65, a pattern that will continue for the next 19 years. This dry humor cartoon encapsulates the problem retirees' face today:

Two older gentlemen are having a drink. One says: 'As a Baby Boomer, I never thought the boom would be the sound of my retirement accounts collapsing.' He'd like to sip on a nice Scotch while enjoying a steak, but has to settle for water and free bread sticks at Olive Garden.

Most retirees still haven't recovered from the lost decade. Let's make the term lost decade more personal. A 55 year old with $100,000 in his retirement account at the beginning of the year 2000 and a 6% projected rate of return, would have $201,419 today.

The S&P trades 20% below its 2000 level. Courtesy of the lost decade, that $100,000 in the year 2000 has turned into $80,000 today (perhaps less if invested too aggressively). In other words, many retirees may have to get by on less than half of their expected nest egg. In addition, their home, rather than being an asset (many considered it an ATM a few years ago), has turned into a liability.

It doesn't take much imagination to see that strapped retirees are bad for economic growth. When the focus is on survival rather than pleasure, sectors like technology (NYSEArca: XLK - News), retail (NYSEArca: XRT - News), and consumer discretionary (NYSEArca: XLY - News) suffer.

In addition, baby boomers that have been buying stocks for decades (think of all the 401k money) are now turning into sellers of stock.

Low Interest Rates

Low interest rates are great for the U.S. government because it reduces debt payments on Treasuries and businesses wanting to expand. Unfortunately, businesses don't feel like expanding or even hiring and for pretty much everyone else low interest rates are negative.

Some try to sell the idea that low interest rates are good for stocks (NYSEArca: VTI - News) because money will flow from low interest bonds into stocks in an effort to get a better return.

The chart below plots the Nikkei against Japan's version of the discount rate. The discount rate has been below 1% since 1995. At the same time the Nikkei has dropped from above 20,000 to below 10,000. Much of this happened during a raging global bull market. Imagine what a global bear market can do to U.S. stocks.

                    https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20japan%20discount.gif

Low interest rates are a double negative because they reduce available spending for retirees who need to get as much income as possible to survive.

Coming to a Head

The above three bearish trends were highlighted in detail in various 2011 ETF Profit Strategy Newsletters. Due to those, and other mega trends, the Newsletter has been expecting a major market top.

For much of 2011 however, the expectation of a major market top was postponed until the ideal target range was reached. The April 3 ETF Profit Strategy update included a precise range for a major market top: 'In terms of resistance levels, the 1,369 - 1,382 range is a strong candidate for a reversal of potentially historic proportions. '

Why was S&P 1,369 - 1,382 a candidate for a reversal of historic proportions? The chart below, published by the ETF Profit Strategy Newsletter in March and many times since, has the answer.

                   https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif

What you see is a giant M, or head and shoulders top. The right shoulder was made up of the parallel trend channel that connects the 2002 and 2009 low, with the 2000 high. In April/May the upper line of the trend channel ran through 1,377. Additional resistance was provided by Fibonacci levels at 1,389 and 1,369.

On May 2, the S&P briefly spiked as high as 1,370.58 before retreating and eventually dropping 18% in twelve trading days (July 25 - August 9). Once the S&P dropped below the 200-day SMA it entered free fall territory.

The July 28 ETF Profit Strategy update warned that: 'A break below the 200-day SMA and the trend line may trigger panic selling. One way to avoid missing out on a potentially big opportunity is to use the 200-day SMA at 1,284 as delineation between bullish and bearish bets - buy as long as the 200-day SMA serves as support, sell if it becomes resistance.'

From top to bottom (once the bottom is in), the S&P will have fallen more than 250 points. No doubt this kind of move validates a counter trend rally. When and where will this rally start and how high will it go?

The ETF Profit Strategy Newsletter provides a detailed outlook for the remainder of 2011 along with the target for a 2011 bottom and 2011 top. The Newsletter doesn't promise to get every turn of the market right, but it will identify the money-losing gorillas. Just imagine if you sold your holdings at the target range for a major top.’

 

 

Zero Job Growth in August Supports Recession Case ETFguide.com

 

 

Why to Sell When Wall Street Says 'Buy' and Vice Versa ETFguide.com

 

S&P 1,100 And Lower - More Likely Than you Think Simon Maierhofer, On Friday September 9, 2011, ‘The S&P has been chopping around aimlessly for nearly a month. Wednesday ETF Profit Strategy update explained the reason and the outcome as follows:

'The aimless sideways trading and lack of powerful and predominantly one-directional rally suggests that the S&P is stuck in a mild up side correction to be followed by new lows. Range bound trading lulls investors into a false sense of security.'

Here are more than a handful of reasons why new lows are likely.

Up Trend Broken

The chart below shows the Dow Jones Industrials (DJI: ^DJI) since the March 2009 bottom. The DJIA weekly candle low touched the yellow trend line on different occasions before breaking through it on August 2.

The S&P 500 (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) adhered to a similar but not as pronounced trend line. But the S&P also had a key experience on August 2. The August 2 ETF Profit Strategy Newsletter update observed regarding a head and shoulders top that the: 'S&P is about to break below the neckline around 1,249. A break below this neckline would unlock a measured target of S&P 1,140.'

The fact that both the DJIA and S&P 500 broke through necklines that have held for over two years is less than encouraging.

In addition, the S&P's May 2 high at 1,370 occurred right within the sweet spot of a major market top. The ETF Profit Strategy Newsletter published the chart below on various occasions throughout March, April and May and preached that S&P 1,369 - 1,382 is the ideal target range for a major market top (chart below was featured in the April 5 ETF Profit Strategy update).

                                         https://www.etfguide.com/images/PDNewsletter_Images/5%20-%20April%203%20TF.jpg                           

Death Cross

The death cross is one of the most talked about technical events, that's why I don't put too much stock in it. However, there are two interesting facts about previous death crosses.

The 2000 and 2007 death cross occurred about three days before the S&P embarked on its next leg down. The 2010 death cross was actually a buy signal. However, it occurred after the S&P and DJIA bounced off the yellow trend line (this time the trend line was broken).

Seasonality

August, September, and October is the most bearish stretch of the year. September and October sport negative performance even in the pre-election year.

Sentiment

From S&P 1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and sentiment measured by Investors Intelligence (II) and the American Association for Individual Investors (AAII) turned deeply bearish. The June 16 ETF Profit Strategy update took that as a queue to buy (long positions were closed at S&P 1,340).

From S&P 1,353 on July 7 to S&P 1,102 on August 9 the S&P lost 251 points, yet the II sentiment poll registered the second most bullish reading since the first week of May. AAII and II polls are often considered the 'dumb money.' If the 'dumb money' views last Wednesday's low as a buying opportunity, the 'smart money' should be suspicious.

VIX Pattern

If you have the charting capabilities, take a moment and plot the VIX (NYSEArca: VXX - News) against the S&P for the month of September - November 2008 and April - July 2010. If you don't have the time you may simply look at the chart below.

                                         https://www.etfguide.com/images/PDNewsletter_Images/yahoo%20-%20vix%20pattern.gif           

What we've seen in 2008 and 2010 is that a VIX peak did not coincide with the S&P bottom. The S&P bottom actually occurred against a lower VIX reading. If this pattern continues, we will see lower lows.

The August 14 ETF Profit Strategy update includes a detailed analysis of the VIX pattern, along with the time frame and target level for an expected turn.

The Script

Via more or less accidental chart surfing I found a striking resemblance between the 2007 market top and the May 2011 top.  This moved me to state in the July 17 Profit Strategy update that:

'There is a similar trend line and a triple top above the trend line. A break below that trend line could be a precursor of bad things. Next week the trend line will be at about 1,262.'

The S&P sliced through that trend line on August 4 and fell an additional 12% within the next four days (this ascending trend line is now a big target and resistance).

The August 7 Profit Strategy update revisited that script and concluded this: 'We now have a rough script; let's see how much lip the actors will add during the live performance (I.e. S&P downgrade).

The two main things I have taken away from the 2007 script are:

1) There will be a new low.

2) There will be a powerful counter trend rally to around 1,xxx (reserved for subscribers).'

Short-term Outlook

Wednesday's (September 7) ETF Profit Strategy update advised aggressive investors to short the S&P 500 as soon as it breaks below 1,173. This doesn't mean that stocks can't go higher, but shorting the S&P against major support/resistance (with a tight stop-loss above) is the only conservative way to assure participation in the next leg down…’

 

 

Ominous Bear Flag Pattern Suggests S&P 500 At 1,000  Scott Redler ‘Talk of a possible Greek debt default grew louder as the day wore on Friday, with several euro zone officials commenting that they expect a default over the weekend. Naturally, the markets didn’t respond positively to the news. Combine that with the terror alerts in New York City and Washington, D.C., this weekend for the 10th anniversary of 9/11, and it was a recipe for heavy selling.

The Dow closed off more than 300 points to finish another wildly volatile week, and based on the action and news, we could be headed for another huge Monday morning gap down. However, it was difficult to chase shorts at the end of the day at such oversold levels, because if the Greek default doesn’t come to fruition and there is no major terrorist attack, those short positions would likely be in serious pain.

The news of a possible Greek default, which would be a historic first-time event, overshadowed any individual stock stories today. In isolation, the default of a relatively small Eurozone economy would not be the “end of the world”, but with other, larger Euro economies standing on extremely shaky ground (especially Italy), such an event could trigger a domino effect unlike anything ever witnessed in modern human history.

Conventional wisdom would tell you that gold shot through the roof on a day like this, but whispers about potential margin hikes pushed GLD to a lower open and seemed to keep the metal at bay. Even with the market tanking, GLD had a hard time ticking higher.

Technical Take

If you take a step back and look at the SPY chart on a daily and even weekly time frame, the obvious pattern that jumps out at you is a wide, but well-defined, bear flag. Previously, we noted the well-defined head and shoulders pattern that forecast the deep correction.

The only strategies that have worked, and provided limited risk, over the past month have been buying and selling extreme moves in both directions. Large gap downs on Monday and Tuesday had investors extremely bearish–the most bearish since September 2007–which gave way to a steep short squeeze.

As we’ve seen before, that low-volume bounce/short squeeze was only “transitory”, as Ben Bernanke would put it. The oversold bounce we saw early in the week actually turned out to be a negative event for the bulls, because it allowed the market to work off its severely oversold condition and prime for another plunge.

After such a harsh move lower, which began around the time of the debt ceiling debate and S&P downgrade, it is natural for there to be some indecision in the indices. However, nobody would have expected the range to remain as wide as it has been. Resolution to this pattern will come at one point or another, and based in the in-bound move, there will be a powerful secondary move (more than likely to the downside). The lower end of the channel also lines up with the 200-week Moving Average, which will be another crucial technical level.

The measured move could take the S&P down to the 1,000 range if a worst-case type scenario plays out, which would involve a Greek debt default that triggered a domino effect in Europe that could likely trigger defaults in at least a few other PIIGS (Portugal, Ireland, Italy, Greece, Spain) nations as well.

http://blogs-images.forbes.com/greatspeculations/files/2011/09/SP-bear-flag-1024x675.png

Technically, we are also seeing some clues that tell us that all is not well with Mr. Market. Nearly every sector is currently mired in a bearish technical formation; there are no rays of light. The one area of relative strength early in the week, is starting to look ready to break down as well.

One clue we look to first is high-beta tech. If the market is healthy under the hood, the leading high-beta tech stocks will usually hold up well. We saw some relative strength early in the week from the likes of Apple Inc. (AAPL), Amazon.com Inc. (AMZN) and Baidu.com Inc. (BIDU), but none of them were able to withstand the force of today’s drop. AAPL and BIDU in particular look to be forming wedge continuation patterns, which generally resolve to the downside.

During the formation of the head and shoulders pattern, for example, the Industrials (XLI) and the Homebuilders (XHB) started to break down first, which signaled to us that the rest of the market wasn’t far behind.

When selling is isolated and weak sectors drag the market down, it can be considered a buying opportunity for strong stocks. When selling is more across-the-board, it’s a sign to get of the way.

The measured move of the head and shoulder played out almost to a ‘T’ (as you can see on the chart). Technical patterns aren’t always perfect, but they provide a good roadmap. Another thing you have to understand about technical analysis too is that it is largely a self-fulfilling prophecy. Moves in the market often play out simply because a large group of traders and investors are reacting based on the same set of rules.

Before the break of the head and shoulders, you had the more mainstream media start talking about the ‘scary’ head and shoulders top pattern, which got both Main St. and Wall St. bearish. Now, everyone in the industry is talking about this ominous bear flag pattern, which is likely to make its rounds in the more mainstream media this weekend (along with the news about Greece).

Final Word

While doomsday talk is rampant right now–between a domino effect of European sovereign debt defaults to 9/11 anniversary attacks–as traders we never trade based on assumptions. The traders who are consistent and profitable over the long haul are the ones who, first and foremost, limit their risk. At the end of the day today, for example, there is enormous risk for both longs and shorts.

If Greece does default and/or there is some sort of attack on NYC/DC, the market is sure to open sharply lower on Monday. However, if one or both of those events do not occur, shorts would be in for a massive squeeze. After such a harsh down day like today, it is best to take any profits you may have generated and take a firm seat on the sidelines.

Even if you are not involved in the weekend trade, there will be tremendous opportunity over the next few weeks to take advantage of this historic market volatility. Great opportunity comes with great risk, so be sure to, more than ever, stick to your personal trading rules and don’t make big bets you can’t afford to pay off.’

 

 

Unprecedented Monthly Volume Sell-Off Suggests Now's the Time to Take Shelter at Minyanville Kevin A. Tuttle Sep 12, 2011 ‘Do not concern yourself if the market goes up today, tomorrow, or a month from now. The risk of entering is not worth the reward.

Over the weekend I had the pleasure of speaking with a very prominent European money manager – overseeing hundreds of billions – about the "across-the-pond" financial crisis unwind and looming hazard of a potential domino-effect coming to fruition. Without rehashing the entire conversation, the consensus is not "if," it’s "when" will the developing pressure finally blow. He actually went so far as to say it could truly begin unraveling within the next few weeks considering the catalysts currently in play.

The intent of providing the conversation synopsis is not for sake of fear, but understanding the potential ramifications. About three years ago, in one of my firm's quarterly reports, we opined on a unique situation in regard to the GDP measurements of Global Nations. It stated the unprecedented growth statistics from the 56 nations tracked. “History is currently being made in the sense that all the globally tracked economic growth nations (56), every one… 100%..., are showing expansion.” This lead to my next comment… “If the economic cycle pendulum swings in both directions what would happen if the inverse occurred?” Are 2011/2012 the years we are about to find out? Maybe that’s somewhat extreme, but yet… is it possible?

We at my firm do not pretend to be intelligent enough to figure out all the nuances, catalysts, causes and reasons why the markets could fall apart; we’ll leave it to the team of economists and officials to attempt to sort that out. What we do instead is try to determine when the storm is coming and how to take shelter, which brings me to my point: Now is the time. Take shelter! Do not concern yourself if the market goes up today, tomorrow or a month from now. Clarity is key! Would you sail your boat into rocky waters with a potential hurricane looming because of your love of sailing? Is the risk worth the reward? For some, maybe; but for most, probably not.

http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/jo.jpg 

Since the "2011 Channel of Indecision" broke on August 4, the seas have picked up dramatically and have begun swallowing ships. The markets have never seen this type of monthly volume sell-off – 47% above average (unprecedented), as seen in the monthly chart above. As Kenny Rogers put it so eloquently… “Know when to hold em’ and know when to fold em', know when to walk away, know when to run!”

Editor's Note: Read more at Tuttle Asset Management.’

 

 

What's the Long-Term Outlook for Stocks and The Economy? ETFguide   Simon Maierhofer, September 12, 2011, ‘The stock market's summer performance has been nothing but stunning. Seeing daily swings in excess of 4% has become as common as American fast food in China.

Sometimes it's helpful to step back and shift the focus from day-to-day changes to multi-decade trends. This kind of big picture evaluation shows whether events like this summer's meltdown are just a hiccup or confirmation of a long-term trend (change).

MORE THAN JUST A MULTI-DECADE FLUKE

Gradual changes are often so subtle that they are nearly invisible to the naked eye or novice observer. But, just because a change is gradual doesn't mean it's insignificant.

Let's take a look at the basic make up of the U.S. economy. A few decades ago, sweat-trenched U.S. manufacturing facilities were the most fertile, growth-producing environment on the planet. This growth was fueled by 'Made in America' products. The growth was organic and it was real.

The first red box in the chart below captures this period of powerful organic growth. It lasted from 1947 - 1966. During this period, GDP growth averaged 4.18%.

The second red box captures a period of growth fueled by low interest and financial engineering. During this period - from 1975 - 2000 - GDP growth averaged only 3.4%.

                                     https://www.etfguide.com//contributor/UserFiles/8/Image/Growth%20Periods%20Yahoo.gif

(The above chart was featured in the March 2011 ETF Profit Strategy Newsletter)

The Only Original Dow Component, Not some Hot Tech Stock

General Electric (NYSE: GE - News), a company that prospered during both phases, aptly illustrates the difference between both periods.

Until the late 1960s, GE was known for manufacturing quality, American-made products like refrigerators, washing machines, stoves, light bulbs, and jet engines. GE manufactured real products, provided real jobs, and made real profits.

Starting in the 1980s GE changed its focus from blue collar manufacturing to white collar alchemy. GE ventured into television and high finance. GE's focus shifted from building quality products to financing purchases of competitor products. Ultimately, it went from manufacturing real products to building a financial house of cards.

In August 2000, GE traded as high as $60.5 a share. In 2009 it was as low as $5.73 - a 90% drop. Today, it's hovering around $15. As you ponder this change in valuation, keep in mind that GE is the only original Dow Jones Industrial Average (DJI: ^DJI) component, not some hot today cold tomorrow tech stock.

A NEW TREND IS BORN ... AND KILLED

Financially engineered (artificial) profits appeared to be the best new thing since sliced bread. However, GDP growth since 2000 has dropped dramatically, now only 1.71%. The post-2007 meltdown shows that an economy cannot be built on the financial (NYSEArca: XLF - News) and banking (NYSEArca: KBE - News) sectors.

It also shows that an artificial bull market is much more receptive to huge corrections. We've had the 2000 tech bust (NYSEArca: XLK - News), the 2005 real estate (NYSEArca: IYR - News) debacle, the 2007/2008 deflation of the financial sector, and most recently the summer 2011 meltdown.

If you think financially engineered profits are bad, brace yourself for what lies ahead. The hopes for economic prosperity (perhaps even survival) rest on Facebook, Twitter, Groupon, LinkedIn, Netflix, and the like.

Social networking isn't a proven business model, yet Facebook has an estimated market cap larger than those of Boeing, Home Depot, Walt Disney, Dell, Hewlett Packard, Costco, or even Goldman Sachs.

Hewlett-Packard employs 325,000 people, Home Depot 300,000, Boeing 160,000. However, Facebook cuts pay checks to only about 1,000 lucky employees.  Welcome to the future of high corporate profit margins and even higher unemployment.

Groupon has an estimated value of $6-9 billion, but its recipe of success is to coax businesses into providing discounts of 50 - 90%. Groupon is a classic economic leach that benefits by sucking the profits out of its client base and teaching its subscribers to buy only at discount prices. Welcome to a future of shrinking small business profits.

THE STOCK MARKET AGREES

The big picture fundamental outlook appears less than confidence inspiring. What about the big picture technical outlook?

The chart below (although small in size due to upload limitations) was featured in the March ETF Profit Strategy Newsletter and provides a big picture technical forecast. In fact, it's about as 'big picture' as it gets.

                    https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif  

What you see is a giant bearish M pattern, it could even be considered a head and shoulders pattern. The neckline is formed by the 2002 and 2009 lows.

To determine an upside price target, we drew a parallel channel that connects the 2002 and 2009 lows with the 2000 high. The April 3 ETF Profit Strategy update said the following about this trend channel and other resistance levels:

'For the month of April this trend line will traverse through 1,377. The 78.6% Fibonacci retracement is at 1,381.5. There is a fairly strong Fibonacci projection resistance at 1,369. In terms of resistance levels, the 1,369 - 1,382 range is a strong candidate for a reversal of potentially historic proportions.'

The S&P (SNP: ^GSPC) peaked on May 2 at 1,370.58 and has since lost as much as 269 points or 19%. The Nasdaq (Nasdaq: ^IXIC) has held up slightly better, but no matter how you slice it, the stock market has given up more than a year's worth of gains within a matter of weeks. The VIX (Chicago Options: ^VIX) spiked to the highest level in over a year.

In addition, all major U.S. indexes broke below a trend line that has provided support on nine different occasions since the March 2009 lows.

This doesn't prevent rallies. In fact, based on our research, we should see a sizeable rally soon. However, odds favor that the stock market's trend has changed from up to down…’

 

 

[video] Trader: Waiting for Treasury Bubble to Burst at TheStreet.com

 

Preparing for a Credit Crisis at Minyanville  John Mauldin’ “I am sure the Euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.”-- Romano Prodi, EU Commission President, December 2001

Prodi and the other leaders who forged the euro … knew a crisis would develop, as Milton Friedman and many others had predicted. They accepted that as the price of European unity. But now the payment is coming due, and it is far larger than they probably thought…

The Consequences of Austerity

The markets are pricing in an almost 100% certainty of a Greek default (OK, actually 91%), and the rumors in trading circles of a default this weekend by Greece are rampant. Bloomberg (and everyone else) reported that Germany is making contingency plans for the default. Of course, Greece has issued three denials today that I can count. I am reminded of that splendid quote from the British ’80s sitcom, Yes, Prime Minister: “Never believe anything until it’s been officially denied.”

Germany is assuming a 50% loss for their banks and insurance companies. Sean Egan (head of very reliable bond-analyst firm Egan-Jones) thinks the ultimate haircut will be closer to 90%. And that is just for Greece. More on the contagion factor below.

“The existence of a ‘Plan B’ underscores German concerns that Greece’s failure to stick to budget-cutting targets threatens European efforts to tame the debt crisis rattling the euro. German lawmakers stepped up their criticism of Greece this week, threatening to withhold aid unless it meets the terms of its austerity package, after an international mission to Athens suspended its report on the country’s progress.

“ ‘Greece is “on a knife’s edge,”’ German Finance Minister Wolfgang Schaeuble told lawmakers at a closed-door meeting in Berlin on Sept. 7, a report in parliament’s bulletin showed yesterday. If the government can’t meet the aid terms, ‘it’s up to Greece to figure out how to get financing without the euro zone’s help,’ he later said in a speech to parliament.

“Schaeuble travelled to a meeting of central bankers and finance ministers from the Group of Seven nations in Marseille, France, today as they face calls to boost growth amid increasing threats from Europe’s debt crisis and a slowing global recovery.” (Bloomberg)


(There is an over/under betting pool in Europe on whether Schaeuble remains as Finance Minister much longer after this weekend’s G-7 meeting, given his clear disagreement with Angela Merkel. I think I take the under. Merkel is tough. Or maybe he decides to play nice. His press doesn’t make him sound like that type, though. They are playing high-level hardball in Germany.)

Anyone reading my letter for the last three years cannot be surprised that Greece will default. It is elementary school arithmetic. The Greek debt-to-GDP is currently at 140%. It will be close to 180% by year’s end (assuming someone gives them the money). The deficit is north of 15%. They simply cannot afford to make the interest payments. True market (not Eurozone-subsidized) interest rates on Greek short-term debt are close to 100%, as I read the press. Their long-term debt simply cannot be refinanced without Eurozone bailouts…

[Quick sidebar: If (when) the US goes into recession [We’re already in a recession!], have you thought about what the result will be? A recession of course means lower GDP, which will mean higher unemployment. That will increase costs due to increased unemployment and other government aid, and of course lower revenues as tax receipts (revenues) go down. Given the projections and path we are currently on, that means even higher deficits than we have now. If President Obama has his plan enacted, and if we go into a recession, we will see record-level deficits. Certainly over $1.5 trillion, and depending on the level of the recession, we could scare $2 trillion. Think the Tea Party will like that? Governments have less control than they think over these things. Ask Greece or any other country in a debt crisis how well they predicted their budgets.]

The Greeks were off by over 25%. And they are being asked to further cut their deficit by 4% or so every year for the next 3-4 years. That guarantees a full-blown depression. And it also means lower revenues and higher deficits, even at the reduced budget levels, which means they get further away from their goal, no matter how fast they run. They are now in a debt death spiral. There is no way out, short of Europe simply bailing them out for nothing, which is not likely.

Europe is going to deal with this Greek crisis. The problem is that this is the beginning of a string of crises and not the end. They do not appear, at least in public, to want to deal with the systemic problem of too much debt in all the peripheral countries…

Euro Breakup – The Consequences

“The Euro Should Not Exist (Like This)

“Under the current structure and with the current membership, the Euro does not work. Either the current structure will have to change, or the current membership will have to change.

“Fiscal Confederation, Not Break-Up

“Our base case with an overwhelming probability is that the Euro moves slowly (and painfully) towards some kind of fiscal integration. The risk case, of break-up, is considerably more costly and close to zero probability. Countries cannot be expelled, but sovereign states could choose to secede. However, popular discussion of the break-up option considerably underestimates the consequences of such a move.

“The Economic Cost (Part 1)

“The cost of a weak country leaving the Euro is significant. Consequences include sovereign default, corporate default, collapse of the banking system and collapse of international trade. There is little prospect of devaluation offering much assistance. We estimate that a weak Euro country leaving the Euro would incur a cost of around €9,500 to €11,500 per person in the exiting country during the first year. That cost would then probably amount to €3,000 to €4,000 per person per year over subsequent years. That equates to a range of 40% to 50% of GDP in the first year.

“The Economic Cost (Part 2)

“Were a stronger country such as Germany to leave the Euro, the consequences would include corporate default, recapitalization of the banking system and collapse of international trade. If Germany were to leave, we believe the cost to be around €6,000 to €8,000 for every German adult and child in the first year, and a range of €3,500 to €4,500 per person per year thereafter. That is the equivalent of 20% to 25% of GDP in the first year. In comparison, the cost of bailing out Greece, Ireland and Portugal entirely in the wake of the default of those countries would be a little over €1,000 per person, in a single hit.

“The Political Cost

“The economic cost is, in many ways, the least of the concerns investors should have about a break-up. Fragmentation of the Euro would incur political costs. Europe’s ‘soft power’ influence internationally would cease (as the concept of ‘Europe’ as an integrated polity becomes meaningless). It is also worth observing that almost no modern fiat currency monetary unions have broken up without some form of authoritarian or military government, or civil war.”

Welcome to the Hotel California

Welcome to the Hotel California
Such a lovely place
Such a lovely face
They livin’ it up at the Hotel California
What a nice surprise, bring your alibis

Last thing I remember, I was running for the door
I had to find the passage back to the place I was before
“Relax,” said the night man, “We are programmed to receive.
You can check out any time you like, but you can never leave!”

-- The Eagles, 1977

You can disagree with the UBS analysis in various particulars, but what it shows is that there is no free lunch. It is not a matter of pain or no pain, but of how much pain and how is it shared. And to make it more difficult, breaking up may cost more than to stay and suffer, for both weak and strong countries. There are no easy choices, no simple answers. Like the Hotel California, you can check in but you can’t leave! There are simply no provisions for doing so, or even for expelling a member.

The costs of leaving for Greece would be horrendous. But then so are the costs of staying. Choose wisely. Quoting again from the UBS report:

“… the only way for a country to leave the EMU in a legal manner is to negotiate an amendment of the treaty that creates an opt-out clause. Having negotiated the right to exit, the Member State could then, and only then, exercise its newly granted right. While this superficially seems a viable exit process, there are in fact some major obstacles.

“Negotiating an exit is likely to take an extended period of time. Bear in mind the exiting country is not negotiating with the Euro area, but with the entire European Union. All of the legislation and treaties governing the Euro are European Union treaties (and, indeed, form the constitution of the European Union). Several of the 27 countries that make up the European Union require referenda to be held on treaty changes, and several others may choose to hold a referendum. While enduring the protracted process of negotiation, which may be vetoed by any single government or electorate, the potential secessionist will experience most or all of the problems we highlight in the next section (bank runs, sovereign default, corporate default, and what may be euphemistically termed ‘civil unrest’).”

Leaving abruptly would result in a lengthy bank holiday and massive lawsuits and require the willingness to simply thumb your nose in the face of any European court, as contracts of all sorts would have to be voided. The Greek government would have to “conveniently” pass a law that would require all Greek businesses to pay back euro contracts in the “new drachma,” giving cover to their businesses, who simply could not find the euros to repay. But then, what about business going forward?

Medical supplies? Food? – The basics? You have to find hard currencies for what you don’t produce in the country. Greece is not energy self-sufficient, importing more than 70% of its energy needs. They have a massive trade deficit, which would almost disappear, as who outside of Greece would want the “new drachma?” Banking? Parts for boats and business equipment? The list goes on and on. Commerce would slump dramatically, transportation would suffer, and unemployment would skyrocket.

If Germany were to leave, its export-driven economy would be hit very hard. It is likely that the “new mark” would appreciate in value, much like the Swiss Franc, making exports from Germany even more costly. Not to mention potential trade barriers and the serious (and probably lengthy) recession that many of their export and remaining Eurozone trade partners would be thrown into. And German banks, which have loaned money in euros, would have depreciating assets and would need massive government support. (Just as they do now!)..

Ray Dalio and his brilliant economics team at Bridgewater have done a series of reports on a plan for Europe. Basically, it involves deciding which institutions must be saved (and at what cost) and letting the rest simply go their own way. If they are bankrupt, then so be it. Use the capital of Europe to save the important institutions (not shareholders or bondholders). Will they do it? Maybe.

The extraordinarily insightful and brilliant John Hussman recently wrote on a similar theme. He is a must-read for me. Quoting:

“The global economy is at a crossroad that demands a decision – whom will our leaders defend? One choice is to defend bondholders – existing owners of mismanaged banks, unserviceable peripheral European debt, and lenders who misallocated capital by reaching for yield and fees by making mortgage loans to anyone with a pulse. Defending bondholders will require forced austerity in government spending of already depressed economies, continued monetary distortions, and the use of public funds to recapitalize poor stewards of capital. It will do nothing for job creation, foreclosure reduction, or economic recovery.

“The alternative is to defend the public by focusing on the reduction of unserviceable debt burdens by restructuring mortgages and peripheral sovereign debt, recognizing that most financial institutions have more than enough shareholder capital and debt to their own bondholders to absorb losses without hurting customers or counterparties – but also recognizing that properly restructuring debt will wipe out many existing holders of mismanaged financials and will require a transfer of ownership and recapitalization by better stewards. That alternative also requires fiscal policy that couples the willingness to accept larger deficits in the near term with significant changes in the trajectory of long-term spending.

“In game theory, there is a concept known as ‘Nash equilibrium’ (following the work of John Nash). The key feature is that the strategy of each player is optimal, given the strategy chosen by the other players. For example, ‘I drive on the right / you drive on the right’ is a Nash equilibrium, and so is ‘I drive on the left / you drive on the left.’ Other choices are fatal.

“Presently, the global economy is in a low-level Nash equilibrium where consumers are reluctant to spend because corporations are reluctant to hire; while corporations are reluctant to hire because consumers are reluctant to spend. Unfortunately, simply offering consumers some tax relief, or trying to create hiring incentives in a vacuum, will not change this equilibrium because it does not address the underlying problem. Consumers are reluctant to spend because they continue to be overburdened by debt, with a significant proportion of mortgages underwater, fiscal policy that leans toward austerity, and monetary policy that distorts financial markets in a way that encourages further misallocation of capital while at the same time starving savers of any interest earnings at all.

“We cannot simply shift to a high-level equilibrium (consumers spend because employers hire, employers hire because consumers spend) until the balance sheet problem is addressed. This requires debt restructuring and mortgage restructuring. While there are certainly strategies (such as property appreciation rights) that can coordinate restructuring without public subsidies, large-scale restructuring will not be painless, and may result in market turbulence and self-serving cries from the financial sector about ‘global financial meltdown.’ But keep in mind that the global equity markets can lose $4-8 trillion of market value during a normal bear market. To believe that bondholders simply cannot be allowed to sustain losses is an absurdity. Debt restructuring is the best remaining option to treat a spreading cancer. Other choices are fatal.”

(Click here for the rest of the article.)

You think the world’s central banks and main institutions are not worried? They are pulling back from bank debt in Europe, as are US money-market funds. (Note: I would check and see what your money-market funds are holding – how much European bank debt and to whom? While they are reportedly reducing their exposure, there is some $1.2 trillion still in euro-area institutions that have PIIGS exposure.)

Look at the following graph from the St. Louis Fed. It is the amount of deposits at the US Fed from foreign official and international accounts, at rates that are next to nothing. It is higher now than in 2008. What do they know that you don’t?

http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/fred1.jpg

The Slow March to Recession in the US..

John Hussman, in the same report, offers the chart below, which is a variant on themes I have highlighted in past issues, but with his own personal twist. It is a combination of four Fed indices and four ISM reports. And it has been reliable as a predictor of recessions – one of which it strongly suggests we are either in or heading into.

http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/fred2.jpg

And recent revisions to economic data suggest that companies are going to have even more trouble making those powerhouse earnings that are being estimated. As Albert Edwards of Societe Generale reports this week:

“… at the start of 2011, productivity trends took a remarkable turn for the worse – especially compared to what was initially reported. An initial estimate that Q1 productivity grew by 1.8% was transformed to show a decline of 0.6%. A slight 0.7% rise in Q1 ULC (unit labor costs) was transformed to show a staggering surge of 4.8%! In addition to that 4.8% rise, ULC rose a further 2.2% in Q2. But the news gets even worse Last week the BLS revised the ULC rise in Q2 up from 2.2% to 3.3% QoQ. US non-farm business unit labor costs are now rising by 2% yoy. That is very bad news for profits. Bad news for equities. And because the pace of ULC is a key driver of inflation (upwards in this instance), it is bad news for an increasingly criticized and divided Fed.”

Preparing for a Credit Crisis

There is so much that could push us into another 2008 Lehman-type credit crisis..

I did an interview with good friends David Galland and Doug Casey of Casey Research yesterday. They are decidedly more bearish than I am, so wanted an “optimist” to sit on their panel. But they forced me to admit that some of my optimism depends on the probability of US political leaders doing the right thing. ..

But whether you want to make it 50-50 to 70-30 or (pick a number), there is a reasonable prospect of another credit crisis. So what should you do?

First, think back to 2008. Were you liquid enough? Did you have enough cash? If not, then think about raising that cash now. When the crisis hits, you have to sell what you can for what you can get, not what you want for reasonable prices …’

 

 

Don't Trust Wall Street and this Market  ETFguide  [ I couldn’t say this better myself! Take heed! My sentiments exactly, except far worse is in store! ] Simon Maierhofer, September 13, 2011, ‘The chicken is clueless about the egg's fate. Will it hatch or become an omelet?

Wall Street is clueless about their forecasts, will they 'hatch' or become egg on their face? Who cares; as long as it sounds good at the time, Wall Street's opinions are promoted by the media. Is this a haphazard approach? Judge for yourself.

The most recent Wall Street blunder was the over emphasis on positive earnings in April. Here are some of the headlines Wall Street and the financial media featured late April 2011:

Morgan Stanley shares rise as earnings beat estimates

Stocks, commodities rise as earnings top estimates

Leading U.S. indicators, consumer confidence gain as fuel costs discounted

World revs up U.S. profits

The Global economy is improving

The S&P breaks out

The Dow's going to 20,000

Sales growth the big surprise on Wall Street

Buffett says odds of another U.S. banking crisis low

Equities finally seeing light on the economy

Stocks find sea of tranquility

Flawed Reasoning

The chart below, featured in the September 2010 ETF Profit Strategy Newsletter, reveals the flawed reasoning behind Wall Street's expectations. It plots Earnings per Share (EPS) against GDP and U-6 unemployment numbers.

                https://www.etfguide.com//contributor/UserFiles/8/Image/EPS%20Growth%20Yahoo.gif

Notice how earnings for Q1, Q2, and Q3 2011 were supposed to reach a new all-time high. There were at least four reasons why record high EPS estimates were not long-term bullish:

1) GDP was contracting, U-6 (and every other measure of unemployment) did not signal a recovery. Every spike in EPS would be temporary and unsustainable.

2) EPS estimates are just a projection and are about as valuable as an un-hatched egg.

3) The last time EPS reached an all-time high was in Q2 2007. We all know what happened thereafter.

4) EPS or P/E ratios can be distorted via financial trickery. Financials (NYSEArca: XLF - News) and banks (NYSEArca: KBE - News) took advantage of this when accounting rule FASB 157 was changed on April 2, 2009. This allowed banks to hide trillions of dollars of unrealized mortgage losses in an accounting loophole that doesn't affect their income statement and earnings. Thus some of banks' losses were included in earnings numbers.

The ETF Profit Strategy Newsletter's conclusion was simple and straight to the point: 'Buying at current prices with the expectation of long-term gains is almost certain to deliver despair and tears.'

Proceed With Caution

P/E ratios or EPS aren't a short-term timing tool and didn't prevent stocks from rallying since the above analysis was featured in the September ETF Profit Strategy Newsletter.

Nevertheless, a major market top was expected. The April 3 ETF Profit Strategy update put it succinctly this way: 'In terms of resistance levels, the 1,369 - 1,382 range is a strong candidate for a reversal of potentially historic proportions. Bullish bets should be watched very carefully, especially once stocks move above 1,356.'

The Summer 2011 meltdown erased all gains going back as far as December 2009. Yes, over 18 months of gains were eliminated within a matter of weeks.

Financial Serial Offender

If Wall Street was subject to the 'three strikes you're out' rule, there wouldn't be any financial offices in New York. By now it's common knowledge that Wall Street was overly optimistic in 2007 - right before the financial collapse - and overly pessimistic at the March 2009 lows - the beginning of a 100% + rally for the major indexes a la S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC).

More recent financial offenses include Wall Street's ill-advised fascination with silver in late April. On April 27 the Wall Street Journal ran a front-page article entitled 'Silver rush spreads to stock market.' The commentary read as follows: 'The metals are increasingly considered attractive as a permanent store of value that doesn't diminish like paper currencies.'…’

 

 

Congress budget agency warns panel of economic ills

 

Nearly 1 in 6 Americans in poverty, Census says

 

Growth Stocks Look Pricey. Favor Free Cash Firms with glowing growth projections have gotten expensive.

 

Cisco cuts long-term sales growth forecast [ And just when I was about to say that american technology is horrific, overrated but leading the charge higher on wall street because ‘sell the sizzle’ works better with tech since most don’t understand it. Actually, american tech at most is ‘different color hula hoops’! ]

 

International alarm over euro zone crisis grows

 

Why Can't Wall Street Be Honest With The Public?at Forbes [ Let’s not be naïve here … If the public knew even half of the truth, they’d be seeking to ‘hang wall street from the yardarms’, ‘drawn and quartered they would be’, etc.. Yes, ‘hung, drawn and quartered’. If caught while yachting on their yachts on taxpayer dime, they’d be ‘keelhauled’. There is really no limit to the well placed, well deserved antipathy for the frauds on wall street who should be prosecuted, jailed, fined, and disgorgement imposed. ]  

 

Venture capital veteran Perkins sees danger ahead

 

These Wall Street Firms are About to Start Firing People Like Crazy By Business Insider September 04 2011 ( archived file )

 

Same Alan Greenspan Who Warned Against Budget Surplus Now Warns About Deficit  [ Yeah! One of the many symptoms of senile dementia, with a strong measure of incompetence to boot (greenspun has a long history of incompetent missteps which through self-promotion, quid pro quos, and a general ubiquity of pervasive ignorance, has gone unscrutinized and unreported. He’s really been that bad!) ]  Mark Gongloff

 


ETF Redemptions Highest Since 2008: Report ETF Trends 

 

 

Stock Market Secret Word of the Day Is 'Delusion' at The Wall Street Journal  Paul Vigna  ‘Once again, markets are eagerly swallowing the soothing words of European leaders, just as they have swallowed the soothing words of Chinese officials, Tim Geithner, etc., etc.

The Dow is up about 190 points, the S&P is up 1.8%, and the Nasdaq is up 2%, after the Conference Call to Save the Universe ended with all sides agreeing that Greece should never leave the eurozone and was doing what it could to get its next bailout fix.

Peter Boockvar at Miller Tabak is not impressed:

Bottom line, Greece is likely going to get its next 8 billion-euro tranche in 2 weeks but apparently Merkel, Sarkozy and Papandreou still don’t like paying attention to the bond market, where the 1 year [note]  in Greece is yielding 141.8%, the 2 year is yielding 74.5% and the 10 year is yielding 25.7%.

This says of course that the only lifeline the Greek government has is thru the generosity of its neighbors as they have almost zero chance of paying back in full all that is owed.

I mentioned Merkel being in fantasyland yesterday and delusion is the word today that comes to mind after seeing these Greek headlines.

One would think at this point that Greece would want a more pronounced debt restructuring in order to slash their debt instead of playing this game of pretend because they’re afraid to hurt the feelings of bondholders.’



Zoellick: World economy in new danger zone 

 

Geithner: Economy In “An Early Stage” Of Crisis Sep 14th, 2011 08:47 by News  (RealClearPolitics) — Jim Cramer, CNBC host: “Now let’s talk about the fact that you said the economy is weak. You put out a jobs plan. The New York Times today basically gives its obituary. ‘Tax plan for jobs bill.’ Familiar ring. Meaning the GOP will not back this. Is this dead on arrival?”

Tim Geithner, U.S. Secretary of Treasury: “Absolutely not. I think that there’s no reason now for the Congress of the United States not to act to help strengthen growth in the near term. It’s the conservative, prudent, responsible thing to do. You can think of it as protection against Europe.”

Cramer: “Okay.”

Geithner: “You can think of it as insurance against weaker growth going forward. And you got to think about the alternatives. If Congress or Washington is incapable of acting, then policy will be damaging to growth because what you’ll have is a deeper, steeper contraction in fiscal support than is prudent for an economy at this early stage of the crisis given the shocks we face. You know, life is about choices. Life is about alternatives.” [source] PG View: While this may be a significant admission on the part of the Treasury Secretary; in reality this may be the early stage of a crisis within the broader well-established crisis.’

 

Risk Rises at ECB as European Banks Lose Deposits Sep 14th, 2011 07:43 by News (Bloomberg)

 

S&P Rally to 1,240 Before Capitulation Zacks Kevin Cook,September 14, 2011, ‘Fear has not gripped the market. The VIX, a good proxy for the institutional perception of risk since it is based on the premium being paid for S&P 500 put protection, has not made new highs since early August…’ 

 

Moody’s cuts two French banks’ ratings Sep 14th, 2011 07:39 by News (Financial Times)

 

EU warned of credit crunch threat, French banks hit WROCLAW,Poland/PARIS (Reuters) - European finance ministers have been warned confidentially of the danger of a renewed credit crunch as a "systemic" crisis in euro zone sovereign debt spills...

 

Can the U.S. Sidestep Contagion with Europe? ETFguide  [ Short answer: NO! ] ‘… SINKING INCOME LEVELS Even without Europe's problems, the U.S.' reputation for being the land of milk and honey has been declining. Household income, according to the Census Bureau's annual report on living standards, fell for the third consecutive year and on an inflation adjusted basis, incomes have retreated back to levels seen 15-years ago. Median household income was at a mere $49,445 in 2010. Full-time workers also experienced sagging incomes, which are lower today than in 1978, after adjusting for inflation. Furthermore, the poverty rate for Americans increased to 15.1% of the population. Will Europe's crisis help the U.S. economy end a multi-decade trend of falling incomes and rising poverty? STILL BLIND TO RECESSION What do economists have to say about all of this? As a collective group, economists still deny the existence of an economic recession and their off-the-mark financial projections show it. Instead of taking a sober and realistic view of the economy, they see growth, growth and more growth. Economists with the National Association for Business Economics (NABE) predicted 2.8% expansion for the U.S. economy in May, but have since scaled back that forecast to 1.7%. For 2012, the group is projecting 2.3% growth. The NABE has been likewise wrong about the unemployment rate. They were projecting a jobless rate of 8.7% for the remainder of 2011 and 8.2% for next year. Instead, nationwide unemployment has remained above 9% and if we account for marginally attached workers along with unemployed self-employed workers the actual national jobless rate is probably closer to 20%. It's important to remember the NABE's survey was completed before the White House's unveiling of a $447 billion plan to stimulate job growth through (more) government spending and tax cuts. No doubt, once economists factor in the President's latest plan, they'll re-revise their economic forecasts bullishly upward to agree with their perennial growth bias…’

 

 

Minyanville's T3 Daily Recap: Market Squeeze Continues, But Was it a Trap?  By T3Live.com Sep 14, 2011, ‘After a quick rinse in the first hour of trading Wednesday, the squeeze was back on as the SPDR S&P 500 ETF (SPY) surged 4 points (3.4%) from low to high. Weak shorts were forced to cover, and it was off the races for stocks. But just when it seemed all was well with the market, a harsh pull-in during the last half-hour of trading erased nearly half of those gains. We have seen this type of behavior before during this wide range consolidation in the market, and it typically leads to further downside. A teleconference between German, Greek, and French leaders today resulted in assurances that Greece would remain part of the Eurozone, but the same problems still exist on the troubled continent. There is a crisis of confidence starting occuring among European banks, with account holders keen to protect themselves from calamity. This is exacerbating previous capitalization concerns, which were confirmed this morning when French banks were downgraded. Today's action could have been another clever ploy to suck in longs while relieving some of the oversold condition of the market. Risk is high in both directions in this environment, and, as we have stated repeatedly over the last two weeks, it's best to keep your trading light at this stage.’

 

Flat retail sales keeps U.S. on recession watch 

 

Another Absolutely Bonkers Day  Mark Gongloff ‘Still spinning? Well, folks, that was the stock market. Hope you enjoyed it. Just another quiet, totally normal day. Yep, just another day when the Dow loses 140 points in the last 20 minutes of trading, after soaring as high as 280 for pretty much no fundamental reason.Still, you can’t complain about it too much. All the good stuff led the market higher today. The S&P’s 1.4% gain was paced by healthy cyclical stuff like industrials, up 1.75%, consumer discretionary, up 1.65% and tech, up 1.6%.The Dow transports jumped 2%. The VIX gave up 6.3%.All good signs, but you can’t shake the nagging feeling that it can’t be realistic, given how absolutely nuts the action has been lately. The Treasury market held pretty much steady, with the 10-year note yielding 2% just about all day.Nobody’s comfortable right now — shorts have got to be worried, and many got squeezed today.Those of us who are long, meanwhile, are anxiously checking whether our top has stopped spinning yet.’

 

Europe's Outlook Darkens as French Banks Wobble and Austria Delays Greek Bailout at Minyanville

 

The Daily Market Report  Sep 14th, 2011 by NewsIf There Was Any Doubt… (USAGOLD) — ‘The yield on Greek 1-year money is trading in excess of 140% today; up dramatically from just a week ago when the 1-year yield was still below 100%. Clearly this is unsustainable and Greece is unquestionably on the verge of default, save for some massive infusion of funds that will negate Greece’s need to access global credit markets…’



Huge Surge in Bank of America Foreclosures CNBC | Bank of America is ramping up its foreclosure processing.



David Rosenberg: “It’s Time To Start Calling This For What It Is: A Modern Day Depression” Zero Hedge | You know you’re in a depression when interest rates go to zero and there is no revival in credit-sensitive spending. September 14, 2011

By now only the cream of the naive, Kool-Aid intoxicated crop believes that the US is not in either a deep recession, or, realistically, depression. For anyone who may still be on the fence, here is David Rosenberg’s latest letter which will seal any doubts for good. It will also make it clear what the fair value of the stock market is assuming QE3 fails, which it will, and the market reverts to trading to fair value as predicated by bond spreads. To wit: “If the Treasury market is correct in its implicit assumption of a renewed contraction in the economy, then we could well be talking about corporate earnings being closer to $75 in 2011 as opposed to the current consensus view of over $110. In other words, we may wake up to find out a year from now that whoever was buying the market today under an illusion of a forward multiple of 10x was actually buying the market with a 15x multiple.” And since we are in the throes of a deep depression and a 10x multiple is more than generous, applying that to $75 in S&P earnings, means that the fair value of the S&P is… we’ll leave that to our readers.

From Breakfast with Rosie, of Gluskin Sheff

We just came off the weakest recovery on record despite the massive amounts of stimulus that the U.S. government has delivered in so many ways. That the yield on the 10-year U.S. Treasury note is down to 2% already speaks volumes because the last time we were at these levels was back in December 2008 when the downturn was already 12 months old. A period like the one we have endured over the past six months when bank shares are down 30% and the 10- year note yield is down 130 basis points has never in the past foreshadowed anything very good coming down the pike. If market rates are at Japanese levels, or at 1930s levels, then it’s time to start calling this for what it is: A modern day depression.

Look, that entire period from 1929-1941 saw several quarters of huge bungee-jump style GDP growth and countless tradable rallies in the stock market.

But that misses the point.

The point being that a depression, put simply, is a very long period of economic malaise and when the economy fails to respond in any meaningful or lasting way to government stimulus programs. A series of rolling recessions and modest recoveries over a multi-year period of general economic stagnation as the excesses from the prior asset and credit bubble are completely wrung out of the system. In baseball parlance, we are in the third inning of this current debt deleveraging ball game.

You know you’re in a depression when interest rates go to zero and there is no revival in credit-sensitive spending.

The economy is in a depression when the banks are sitting on nearly $2 trillion of cash and yet there is no lending going onto the private sector. It’s otherwise known as a ‘liquidity trap’.

Depressions usually are caused by a bursting of an asset bubble and a contraction in credit, whereas plain-vanilla recessions are typically caused by inflation and excessive manufacturing inventories. You tell me which fits the bill today.

When almost half of the ranks of the unemployed have been looking for a job fruitlessly for at least six months, you know you are in something much deeper than a garden-variety recession. True, we can’t see the soup lines; the soup lines are in the mail — 99 weeks of unemployment cheques for over 10 million jobless Americans. Don’t be lulled into the view that we are into anything remotely close to a normal economic cycle.

Basically, in a depression, secular changes take place. Attitudes towards debt, discretionary spending and homeownership are altered for many years, or at least until the scars from the traumatic experience with defaults and delinquencies fade away. That is why we saw existing home sales slide to 15- year lows and new home sales to record lows despite the fact that mortgage rates have tumbled to their lowest levels in modern history. There is no economic model that would tell you that declining mortgage rates should lead to lower home sales.

More fundamentally, in a recession, the economy is revived by government stimulus. In depressions, the economy is sustained by government stimulus. There is a very big difference between these two states.

In a recession, everything would be back to a new high nearly three years after the initial contraction in the economy. This time around, everything from organic personal income to employment to real GDP to home prices to corporate earnings to outstanding bank credit are still all below, to varying degrees, the levels prevailing in December 2007.

Let’s be clear: After all the monetary, fiscal and bailout stimulus, the economy should be roaring ahead, as would be the case if the economy were coming out of a normal garden-variety recession. The fact that there has been no sustained response to all these efforts by the government to turn things around is testament to the view that this is not actually a traditional recession at all, but something closely resembling a depression. That, my friends, is exactly what the bond market is signaling, with Treasury yields rapidly approaching Japanese levels. Just because the stock market embarked on a stimulus-led speculative two-year rally, which ended abruptly in April 2011— does not change that fact.

For all the chatter about whether the recession that started in December 2007 ended in mid-2009, here is what you should know about the historical record. The 1930s depression was not marked by declining quarterly GDP data every single quarter. In fact, the technical recessionary aspect to the initial period following the asset and credit shock goes from the third quarter of 1929 to the first quarter of 1933.

I can understand how emotional the debate can get over whether or not we have actually just stumbled along some post-recession recovery path or whether or not this is actually a depression in the sense of a downward trend in economic activity merely punctuated with noise that is influenced by recurring rounds of government intervention. The reality is that the Fed cut the funds rate to zero, as was the case in Japan, to little avail. Then the Fed tripled the size of its balance sheet— again with little sustained impetus to a broken financial system. Government deficits of nearly 10% relative to GDP, or double what FDR ever ran during the 1930s, have obviously fallen flat in terms of providing any lasting impact to the economy.

This is going to sound like a broken record but it took a decade of parabolic credit growth to get the U.S. economy into this deleveraging mess and there is clearly no painless “quick fix” towards bringing household debt into historical realignment with the level of assets and income to support the prevailing level of liabilities. We are talking about $5 trillion of excess debt that has to be extinguished either by paying it down or by walking away from it (or having it socialized). Look, we can understand the need to be optimistic, but it is essential that we recognize the type of market and economic backdrop we are in.

The markets are telling us something valuable when (after a period of unprecedented government bailouts, incursions and stimulus programs) the yield on the 5-year note is south of 1% and the 10-year is down to 2%. Instead of contemplating over how attractively priced equities must be in this environment, market strategists and commentators would bring a lot more to the table if they tried to decipher what the macro message is from this price action in the Treasury market. Conducting stock market valuation analysis based on unrealistic consensus earnings assumptions does nobody any good, especially when these estimates are in the process of being cut, and at a time when the Treasury market is telling us we are the precipice of another recession.

If the Treasury market is correct in its implicit assumption of a renewed contraction in the economy, then we could well be talking about corporate earnings being closer to $75 in 2011 as opposed to the current consensus view of over $110. In other words, we may wake up to find out a year from now that whoever was buying the market today under an illusion of a forward multiple of 10x was actually buying the market with a 15x multiple.

How’s that for a reality check?

This augers for capital preservation, defensive orientation in the equity market and a focus on income-yielding securities; something we’ve been advocating for some time.’

 


 

How American Taxpayers Could End Up Paying for ECB Liquidity Flood at The Wall Street Journal 

 

Company Analysts Hop On Bandwagon Of Gloom  [ Yes! This is in contradistinction to the ‘funny money’ bandwagon of irrational exuberance that has swept up nations worldwide who have now joined the ranks of the fraudulent american manipulated markets of ‘non-value’ asset / security pricing which will end quite badly as always! ] 

 

 

How Greece Is Mocking the Rest of the World  [ Well, let’s get real here! There’s plenty to mock in this world, and Greece is hardly the nation to be doing the mocking. I think it’s the markets that are mocking the rest of the world’s stupidity for buying into this false reality / obfuscation / fraud, particularly by way of the now pervasive worldwide acceptance of the american strategy of currency debasement which really is a fraud facilitator because it masks to all but the intelligent few the underlying economic weakness and decline. A simplistic example, though not perfect, is apropos here: a company sells a product for 1 dollar which costs 1 dollar to make (assuming arguendo to cover fixed expenses - no profit). The fed over-printing / creating dollars like mad to the point where it now takes 2 dollars to render the same purchasing power of  1 dollar when the goods were produced. The company sells the products for 2 dollars (the previous equivalent of 1 dollar before debasement). The company is now showing earnings 1 dollar per unit sold, yet in real terms, they’ve gotten no more than the equivalent of that 1 dollar per unit. (If you’ve been to the grocery store lately, particularly the last 1-2 months, I’ve found meats, etc., to be up 50-100%, etc.). The same obfuscating manipulations are applicable to assets generally, and to those pieces of paper called stocks which are even ‘worse for the wear’ since churn-and-earn commissions at lightning computerized speed are being subtracted from this illusory ‘enhanced value’ which in reality doesn’t exist at all. ( Such manipulations from currency translation also provide ‘arbitrage opportunities’ though similarly largely ultimately subtracted from no real value being created. ) This is why fraudulent wall street loves the fed’s QE’s and dollar debasement / over-printing / creating and also why it’s been a dismal failure and a net negative in real economic terms as seen on main street and in the desimation of the middle class and growing ranks of the poor. In the analysis of securities, this would be considered ‘the quality of earnings factor’ that goes into the assignment of a p/e multiple to the projected earnings. Sufficeth to say, this is no longer done on wall street in any real or legitimate fashion if at all. Indeed, it’s a fair statement to say that security analysis is no longer a ‘practice’ as same was considered, once upon a time, by value investors / analysts. As set forth by Dave and Cooper, infra, computerized programmed manipulation at lightning speed has been expedient in the short run for the wall street frauds but ultimately leads to the inevitable crash since as I often reiterate:  Remember, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. They’re just not that important and represent, like termites eating away at the nation’s foundation, a drag on the economy, the nation as one would expect from parasites such as they are’. What to Expect Next From the Markets Minyanville  Jeffrey Cooper ‘Conclusion: It looks like a program was run using the least amount of dollars to goose the indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and Caterpillar,  Dave’s Daily:’.. The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job..’.      Simon Maierhofer, On Friday September 16, 2011, ‘Webster's dictionary defines gullible as naive and easily duped or cheated'.

On Thursday stocks rallied after Germany and France gave assurance that Greece will remain a member of the euro.

Haven't we been down this road before? How often have there been statements assuring that Greece is fine or will be fine? An Associated Press article stated this week that: 'Hopes were raised by the outcome of a teleconference Wednesday between leaders of France, Germany and Greece.'

Hope worked as propaganda tool for President Obama three years ago, but hope is not a suitable investment strategy. Einstein's famous definition of insanity comes to mind: Insanity is doing the same thing over and over again and expecting different results.

Since the beginning of 2010 there have been five 10%+ sell offs. All of them, with the exception of the March 2011 decline (Japan earthquake), were blamed on Greece. When stocks recovered, it was credited to Greece's rigorous adherence to the demanded austerity measures or new bailout money.

The S&P has made no net progress since January 2010. After two years of water treading and lessons in Greek-style financial mockery we have to ask, is Wall Street insane?

Greece's Prime Minister George Papandreou just pledged that a reform program would be on the top of Thursday's (yesterday) Greek cabinet meeting. To buy stocks based on a pledge to push a concern that was initially sold as non-issue but has morphed into a matter of survival on the top of an agenda does seem insane.

Or should we just consider the Greeks geniuses? After all, they have figured out how to control Wall Street. Today it only takes mythical Grecian hope for a hopefully hopeful outcome to excite Wall Street.

A German saying may describe Greece's situation. Loosely translated, it goes like this: Once your reputation is ruined, you may live blatantly uninhibited.

Insane Financial Pain

The Greek saga began over two years ago, when, on June 23, 2009, Greece's finance minister nonchalantly disclosed that: 'The rate of growth for the Greek economy in 2009 is expected to slow more than forecasted. Specifically, it will range around zero and only return to growth in 2010.' The disclosed budget deficit at the time was $3.1 billion.

Growth obviously didn't return in 2010, but the following headlines all offered hope in 2010:

ECB member says no bailouts for Greece

Bulls run on Greece news

Debtors bet Greece won't spill

Is Greece's crisis over?

Greece contagion fears unfounded

IMF approved $3.3 billion for Greece amid impressive fiscal adjustment

If Greece's adjustment was that impressive, why are we still talking about Greece?

Small Fish in the Debt Pond

Greece has made quite a splash but it is just a small fish in the European debt pond. Given some more time, we'll probably find out that bigger fish make bigger splashes. Next in line are Portugal, Spain, Italy and France. In terms of size, this is probably like comparing a goldfish with a tuna.

The Wall Street Journal reported on Monday that: 'European banks are cutting back on dollar denominated loans, a troublesome sign of credit contraction at a time when American and European economies can least afford it.' Credit contraction is the mother of deflation and Bernanke's most feared enemy.

The Chairman of Societe Generale, one of France's largest banks, made it a point to state on Monday that the bank was well funded. Nevertheless, it will be reducing its dollar denominated debt and lay off workers. When promises conflict actions, we know that actions speak louder than words. Laying off workers is not confidence inspiring.

Back in February, the ETF Profit Strategy Newsletter warned that: 'The debt problem of sovereign European countries has or is about to turn into a debt problem of super sovereign entities. The IMF and EU swallowing up massive amounts of debt has not eliminated debt, it has merely re- shuffled and concentrated it.'

On July 15, I stated via ETF Profit Strategy Newsletter: 'I know European stocks will tank eventually but I don't know when. However, I see that the iShares MSCI EAFA ETF (NYSEArca: EFA - News) just sliced below it's 20, 50 and 200-day simple moving averages (SMAs). The same is true for the iShares MSCI Emerging Markets ETF (NYSEArca: EEM - News). The high reward, low risk trade would be to go short EFA or EEM with a stop loss just above the 200-day SMA Corresponding ETFs are Short MSCI EAFE ProShares (NYSEArca: EFZ - News) and Short MSCI Emerging Markets ProShares (NYSEArca: EUM - News).

What's Next?

Fortunately the European Union can rely on the smarts of its many capable members. There is former IMF chief Dominique Strauss-Kahn who'd rather force his will on an innocent Manhattan hotel worker than enforce strict financial rules on member countries, Luxembourg's Prime Minister Jean-Claude Juncker who openly confesses to lying if required by circumstances and a whole slew of officials suffering from gullibility. You should think twice before betting against the European financial dream team.

As for me, I rely on technicals, not on officials, their decisions or the media's interpretation of it. The technicals I focus on are those of the S&P (SNP: ^GSPC). Not surprisingly, European stocks have generally moved in the same direction as the S&P.

The S&P and the SPDR Euro STOXX 50 ETF (NYSEArca: FEZ - News) both topped on May 2. The S&P's top came right on queue and within the 1,369 - 1,382 target range of a major market top I've outlined via the ETF Profit Strategy Newsletter since early 2011.

Unlike the S&P, FEZ sunk to new lows on September 12. On that day FEZ was 38% below its May 2 high. Some more near-term damage may be to come for European stocks, but after a 38% haircut is not the time to double up on short positions.

As far as the S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) is concerned, new lows are likely…’

 

Citi Cuts S&P 500 Target, Too at The Wall Street Journal

 

Lesson From A Burst Bubble: Dead Men Don't Spend at Forbes ‘The Lehman bankruptcy was a much more important event than 9/11. It marked the end of a 60-year credit expansion. Maybe it marked the high water mark for the U.S. empire, too, and the beginning of the end for the U.S. dollar-based world monetary system.

What’s most remarkable about this post-Lehman economy is that it is so un-remarkable. The economy is contracting, and as it contracts, it squeezes jobs, incomes, spending and prices.

We saw a note in the press yesterday. It told us that even the wages of sin are falling. The union that represents waiters and cocktail servers at Atlantic City casinos says the hourly base has fallen from $8.74 to only $4.50. And tips are tumbling. Surveys of prostitutes show their earnings are a bit limp, too.

And as people get squeezed by the financial correction, they gasp for breath. There are now 46.2 million people in America under the poverty line, according to The Los Angeles Times. That’s the most in 50 years.

But nothing extraordinary about that either. This is the biggest correction in half a century too. And you don’t have to look very far to find more confirmation.

That’s why the 10-year Treasury note yield has fallen to the lowest level since right after WWII, and it’s why nearly half the people looking for a job have been looking for more than six months. And it’s why a recent poll shows that 72% of Americans think the nation is going to hell.

Now, finally, almost everyone realizes that this is not a recession-recovery situation. Something else is going on. The Financial Times calls it a Great Recession. Richard Koo calls it a “Balance Sheet Recession.” And David Rosenberg says we should call it what it really is — a “modern depression.”

But we’ll stick with our Great Correction label. Because we think there is more going on here than even a ‘depression’ describes. (About which…more below…).

So far, practically everything that has happened is about what you’d expect — the predictable, ordinary consequences of a contraction. There is nothing remarkable about it.

But what’s this? The Dow is back on the rise. Stock market investors don’t seem to have gotten the message: this economy is in a contraction. They’re still pricing stocks as if they thought the underlying businesses would grow. But companies don’t add sales or profits in a contraction.

At least gold investors seem to have a better idea of what is going on. They sold the yellow metal.  The price of the GLD is dropping.

And the bond market too has its feet on the ground. The yield on the 10-year note is only 2.08%. That is a level consistent with a Japanese-style slump…

No surprises here. But what if there were more going on than a simple financial correction…even a correction of a 60-year credit expansion? What if the Great Correction were greater than we thought? More ambitious, more aggressive and more dangerous?

In the space of the last 500 years the human population grew approximately 1000%. If it were a financial chart, you’d look at it and think — ‘uh oh…it’s a bubble.’

What if we were approaching a correction?

Reuters reports that the population of Japan is falling like a stone. Some 20 million Japanese are expected to disappear in the next 30 years.

Declining, graying populations are not what you need for economic growth. Old people don’t spend much. Dead people spend even less.

As a result, the economy shrivels up like a 90-year-old. In Japan today about the only business still growing is the funeral business. People spend $157 to rent cold rooms, where they can store their loved ones while they await a spot at the crematorium. No kidding. Here’s Reuters:

Annual deaths are expected to peak at 1.66 million in 2040 as the bulk of the nation’s baby boomer generation expires. By then, Japan’s population will have shrunk by around 20 million people, an unprecedented die off for a nation neither at war or blighted by famine.

Dead Men Don’t Spend by Bill Bonner originally appeared in the Daily Reckoning. ‘

 

 

ETFs have potential to become the next toxic scandal Sep 19th, 2011 News (The Telegraph) — Back in April, the Financial Stability Board (FSB), an international super-regulator, wrote a prescient if less than catchily-titled paper “Potential financial stability issues arising from recent trends in Exchange Traded Funds (ETFs)”.Its central warning – that ETFs are not the cheap and transparent vehicles the marketers would have us believe – was spot on. When UBS’s $2bn black hole hit the screens on Thursday, no one who read the FSB report was surprised to see the words ETF and rogue trader in the same sentence…around half of the ETFs in Europe today do not match the index they are designed to track by holding all of its constituent shares. Unlike the plain vanilla “full replication” ETFs which do, 45pc of the market is in the form of so-called “swap-based” ETFs which instead use derivative agreements, often with investment banks, to simulate the performance of the underlying assets. Derivative trades add a second layer of uncertainty to the unavoidable ups and downs of the market, the counterparty risk that the organisation on the other side of the contract might go bust. Even worse, the provider of the ETF might sometimes be a part of the same organisation as the derivatives desk carrying out the swap…For reasons which I’m not sure I could explain even if I had the space, it is possible for the number of shares sold short in an ETF to massively exceed the actual number of shares available. [source]

 

 

4 'Invisible' Forces to Seal the Market's Fate ETFguide Simon Maierhofer, On Monday September 19, 2011, ‘In 2004, Daniel Simons of the University of Illinois and Christopher Chabris of Harvard University conducted an experiment that was as simple as it was fascinating.

If you want to be part of the experiment, watch this video before you read any further.

The Experiment

There are two groups of three people each. One group is wearing black shirts, the other group white shirts. The assignment is to watch how many times the players wearing white, pass the basketball.

If you counted 15, you are correct. But more importantly, did you notice the gorilla? While you were counting passes, a woman dressed in a gorilla suit walked slowly across the scene, stopped to face the camera and thumped her chest.

Half of the people watching the video with the intent of counting passes did not see the gorilla. The experiment illustrates the phenomenon of unintentional blindness. This condition, also known as perceptual blindness, prevents people from perceiving things that are in plain sight.

For most of 2010-11 Wall Street was so enamored by the magical powers of QE2 that it forgot about the 800-pound gorilla - the economy that wasn't improving. In fact, the economy continued deteriorating in plain sight.

There are five bearish mega trends that may draw stock prices much lower over the coming years. Here are the five mega trends (and what will make stocks rally in between).

U.S. Deficit

For a moment, take a mental journey with me back in time. We are now in early 2008. The major indexes a la S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI), and Nasdaq (Nasdaq: ^IXIC) are slowly coming off their all-time high and the VIX (Chicago Options: ^VIX) is reflecting some complacency before the collapse of Lehman Brothers hits the news.

Unbeknownst to most, the perfect financial storm is brewing. Once the storm hits, it is much worse than anyone expected. But, the eventual damage is limited. Why? Because, the government steps up and does what it takes to prevent the financial system from failing.

Today has the feel of early 2008. Another perfect storm may be brewing. Will the government be there to do what it takes to support 'too big to fail?' No! In 2008 financial companies were in trouble. In 2011 entire countries (look at Europe and the U.S.) are struggling to escape the grip of delinquency.

A Decelerating Generation

Starting in 2011, more than 10,000 baby boomers a day will turn 65, a pattern that will continue for the next 19 years. This dry humor cartoon encapsulates the problem retirees' face today:

Two older gentlemen are having a drink. One says: 'As a Baby Boomer, I never thought the boom would be the sound of my retirement accounts collapsing.' He'd like to sip on a nice Scotch while enjoying a steak, but has to settle for water and free bread sticks at Olive Garden.

Most retirees still haven't recovered from the lost decade. Let's make the term lost decade more personal. A 55 year old with $100,000 in his retirement account at the beginning of the year 2000 and a 6% projected rate of return, would have $201,419 today.

The S&P trades 20% below its 2000 level. Courtesy of the lost decade, that $100,000 in the year 2000 has turned into $80,000 today (perhaps less if invested too aggressively). In other words, many retirees may have to get by on less than half of their expected nest egg. In addition, their home, rather than being an asset (many considered it an ATM a few years ago), has turned into a liability.

It doesn't take much imagination to see that strapped retirees are bad for economic growth. When the focus is on survival rather than pleasure, sectors like technology (NYSEArca: XLK - News), retail (NYSEArca: XRT - News), and consumer discretionary (NYSEArca: XLY - News) suffer.

In addition, baby boomers that have been buying stocks for decades (think of all the 401k money) are now turning into sellers of stock.

Low Interest Rates

Low interest rates are great for the U.S. government because it reduces debt payments on Treasuries and businesses wanting to expand. Unfortunately, businesses don't feel like expanding or even hiring and for pretty much everyone else low interest rates are negative.

Some try to sell the idea that low interest rates are good for stocks (NYSEArca: VTI - News) because money will flow from low interest bonds into stocks in an effort to get a better return.

The chart below plots the Nikkei against Japan's version of the discount rate. The discount rate has been below 1% since 1995. At the same time the Nikkei has dropped from above 20,000 to below 10,000. Much of this happened during a raging global bull market. Imagine what a global bear market can do to U.S. stocks.

                   https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20japan%20discount.gif  

Low interest rates are a double negative because they reduce available spending for retirees who need to get as much income as possible to survive.

Coming to a Head

The above three bearish trends were highlighted in detail in various 2011 ETF Profit Strategy Newsletters. Due to those, and other mega trends, the Newsletter has been expecting a major market top.

For much of 2011 however, the expectation of a major market top was postponed until the ideal target range was reached. The April 3 ETF Profit Strategy update included a precise range for a major market top: 'In terms of resistance levels, the 1,369 - 1,382 range is a strong candidate for a reversal of potentially historic proportions. '

Why was S&P 1,369 - 1,382 a candidate for a reversal of historic proportions? The chart below, published by the ETF Profit Strategy Newsletter in March and many times since, has the answer.

                   https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif

What you see is a giant M, or head and shoulders top. The right shoulder was made up of the parallel trend channel that connects the 2002 and 2009 low, with the 2000 high. In April/May the upper line of the trend channel ran through 1,377. Additional resistance was provided by Fibonacci levels at 1,389 and 1,369.

On May 2, the S&P briefly spiked as high as 1,370.58 before retreating and eventually dropping 18% in twelve trading days (July 25 - August 9). Once the S&P dropped below the 200-day SMA it entered free fall territory…’

 

 

Stock-ECRI Disconnect Suggests More Downside at The Wall Street Journal  Oddly Cheery Greek Pronouncements, Part Deux at The Wall Street Journal     Greek Finance Ministry Sends Oddly Cheery E-Mail at The Wall Street Journal  Apple Hits New High (Update1) [ This manipulated programmed trade to froth markets is a crash in the making – sell at these ridiculous levels / take profits! ]  Stocks cut losses on hopes for Greece     Analysis: Japan's lost decade still a risk for U.S. economy    Behind the poverty numbers: real lives, real pain   Market Havoc and Threats to Your Pension International Forecaster | We have warned over and over again that government was going to come after your private retirement funds.  US taxpayers could be on hook for Europe bailout MSNBC | The U.S. is coming to Europe’s financial rescue.

 

 

IMF downgrades outlook for US and Europe economies [Sep 20, 2011] ... Fund has sharply downgraded its outlook for the U.S. economy through 2012 ...  http://finance.yahoo.com/news/IMF-downgrades-outlook-for-US-apf-1240337037.html?x=0



Market Recap: S&P Downgrades Italy, Housing Starts Tumble, Markets Wait on Bernanke   Wall St Cheat Sheet  September 20, 2011, Markets closed mixed on Wall Street today: Dow +0.07% , S&P -0.17% , Nasdaq -0.86% , Oil +1.39% , Gold +1.65% .

On the commodities front, Oil climbed to $86.89 a barrel. Precious metals also climbed, with Gold rising to $1,808.30 an ounce while Silver climbed 1.95% to $39.93 an ounce.

Hot Feature: European Central Banks Are Hungry for Gold

Today’s markets were mixed because:

1) Italy. Standard & Poor’s cut Italy’s credit rating late Monday by one level to A from A+, citing weak economic growth and criticizing Rome’s response to the debt crisis. Italian Prime Minister Silvio Berlusconi responded, saying that the move was influenced by “political considerations” and media stories rather than economic reality. Markets quickly shrugged off the news, with major indices in Italy, Germany, and London all opening higher this morning.

2) Bernanke. Goldman Sachs provided a preview of what investors could see tomorrow from the Federal Reserve, saying there is a “high probability that the FOMC will announce further easing steps at the conclusion of this week’s meeting.” Goldman went on to say that Operation Twist looks “very likely” and that, “As a complementary measure, we also expect that the committee will announce a cut in the interest on excess reserves (IOER) rate to 0.1% from 0.25%, although this is a much closer call. An IOER cut would lower market interest rates a small amount and could aid communication.” The expectation of good news buoyed markets despite a day full of negative or at least neutral economic data, and had the major indices climbing high in mid-day, though they’ve since declined toward more reasonable levels, given that the IMF announced today that it had lowered its global economic forecast for 2011 and 2012, with growth in Europe and the U.S. stalling.

3) Housing. Both housing starts and completions declined in August from already depressed numbers, according to a monthly report by the Department of Urban Housing and Development, in conjunction with the U.S. Census Bureau. However, building permits increased last month, which means more projects are likely to start within the next six months. The news had building stocks climbing higher, including Toll Brothers , D.R. Horton , KB Home , PulteGroup , Hovnanian Enterprises , and The Ryland Group all outperforming the major indices.

BONUS: IMF Downgrades Global Economic Outlook

 

30 Signs That The U.S. Economy Is About To Go Into The Toilet The Economic Collapse | If you think the U.S. economy is bad now, just wait for a few months.

 

Signs The Perfect Economic Storm Is Coming | www.bullfax.com  http://www.bullfax.com/?q=node-signs-perfect-economic-storm-coming  09/22/2011 By Michael T. Snyder: ‘The financial world is officially going crazy. Can you believe what is going on out there right now? Financial markets have been jumping up and down like crazy for months and this is creating a lot of fear. Other than during the financial crisis of 2008, in the post-World War II era have we ever experienced as much financial instability as we are seeing right now? Should we just accept that massive financial instability is going to be part of "the new normal" in the financial world? The wild swings that we are witnessing in the global financial marketplace are making a whole lot of people very nervous right at the moment. When markets go up, they tend to do it slowly and steadily. When markets go down, a lot of times it can happen very rapidly. Also, as I have mentioned before, more major stock market crashes happen during…The following is from an article that was recently posted on MarketWatch....

The insiders have vanished.

Chief executives. Board members. The head honchos. The people who know. Just a few weeks ago, they were out in force, buying up shares in their own companies with both hands. No longer. They’ve disappeared. Almost overnight. “They’ve stopped buying,” says Charles Biderman, the chief executive of stock market research firm TrimTabs, which tracks the data.

For some reason, this almost always starts happening before a crash. So obviously this is not a good sign.

A lot of normal investors have been pulling large amounts of money out of stocks as well. The following is from a report in the Financial Post....

Investors have pulled more money from U.S. equity funds since the end of April than in the five months after the collapse of Lehman Brothers Holdings Inc., adding to the $2.1 trillion rout in American stocks.

About $75 billion was withdrawn from funds that focus on shares during the past four months, according to data compiled by Bloomberg from the Investment Company Institute, a Washington-based trade group, and EPFR Global, a research firm in Cambridge, Massachusetts. Outflows totaled $72.8 billion from October 2008 through February 2009, following Lehman’s bankruptcy, the data show.

Are you starting to get the picture?

Not only that, but a third very troubling sign is that an extraordinary number of bets have been placed against the S&P 500. As I noted the other day, if there is a stock market crash in the next few weeks, somebody is going to make a ton of money....

We are seeing an amazing number of bets against the S&P 500 right now. According to CNN, the number of bets against the S&P 500 rose to the highest level in a year last month. But that was nothing compared to what we are seeing for October. The number of bets against the S&P 500 for the month of October is absolutely astounding. Somebody is going to make a monstrous amount of money if there is a stock market crash next month.

It doesn't take a genius to see all the dark financial clouds that are gathering on the horizon.

And all of the bad news that is constantly coming out of Europe is certainly not helping things. For example, yesterday S&P slashed the credit ratings of seven different Italian banks.

Credit downgrades have become so frequent that we hardly even notice them anymore. Pessimism is everywhere right now. Suddenly it seems like almost everyone is predicting that another "recession" is coming....

  • According to a recent Harvard Business Review survey, 70 percent of global business leaders believe that a global recession is "somewhat likely" or "very likely" in the coming months.
  • Economist Nouriel Roubini says that we are "already in recession".
  • When asked by CNBC what he thought about the possibility of another recession, George Soros said the following the other day:“I think we are in it already.”..’

 

Portfolio Insights by Brett Arends Sept. 21, 2011 Brett Arends, MarketWatch BOSTON (MarketWatch) — ‘Something ominous is happening on Wall Street, but nobody has noticed. The insiders have vanished. Chief executives. Board members. The head honchos. The people who know. Just a few weeks ago, they were out in force, buying up shares in their own companies with both hands. No longer. They’ve disappeared. Almost overnight. “They’ve stopped buying,” says Charles Biderman, the chief executive of stock market research firm TrimTabs, which tracks the data. “Insiders aren’t buying this rally.” Insider stock purchases, which surged above $100 million a day in the market slump last month, have now collapsed to just $13 million a day. Meanwhile the ratio of insider sales to purchases has skyrocketed. Today insiders are dumping $7 in stock for each $1 that (other) insiders are buying. That’s a worrying ratio. Six weeks ago the amounts of purchases and sales were about equal. It’s the kind of news that should give investors pause. What insiders do with their own money is one of the stock market’s best barometers. After all, who better than company executives know their own order books? Who knows the conditions in their industry better? You find insiders typically buying heavily at the market lows — they did in 1987, in 1998, and they did during the financial crisis in 2008-9. (You also typically find them cashing out big-time at the peak). ‘

 

MARKETS DESTROYED AROUND THE WORLD: Here's What You Need To KnowBusiness Insider

 

The Real Reason Behind the Market's Meltdown  Simon Maierhofer, On Thursday September 22, 2011, 11:01 pm

Was it just bad timing or did the Fed cause this two-day market meltdown?

Since Bernanke spoke yesterday the S&P (SNP: ^GSPC) lost as much as 80 points, nearly 7%. The Dow Jones (DJI: ^DJI) shed about 700 points, the Nasdaq (Nasdaq: ^IXIC) 150 points and the financial sector (NYSEArca: XLF - News) tumbled 7.7%. The VIX (Chicago Options: ^VIX) soared over 25%.

No doubt the Fed seems to have lost the touch that made QE2 a temporary 'success' (if success is measured exclusively by stock prices).

Bad Timing

But quite frankly, the timing of 'Operation Twist' was just plain bad. The market's fate was sealed even before Bernanke stepped on stage. Already back in August the ETF Profit Strategy Newsletter highlighted seven reasons why new lows are likely between September 6 and September 28.

In a special pre-FOMC announcement update on Tuesday night, the Newsletter confirmed its bearish outlook and recommended to short the S&P as soon as it breaks below 1,191. Why 1,191? Because it was important support composed of this week's pivot, Fibonacci support, the 20-day moving average and Monday's low.

Here are six reasons why new lows were likely and where and why stocks will bounce.

A Major M-Pattern (or Head-and Shoulders) Top

Since early 2011 the ETF Profit Strategy Newsletter has been expecting a major market top. The chart below shows a bearish multi-decade M-pattern (or sloppy head-and shoulders). The key question was were the right side of the 'M' would end.

The chart below was featured in an April 5 update along with the following commentary: 'In terms of resistance levels, the 1,369 - 1,382 range is a strong candidate for a reversal of potentially historic proportions.'

                                     https://www.etfguide.com//contributor/UserFiles/8/Image/5%20-%20April%203%20TF.jpg

RSI Divergence

There is one striking similarity between the October/November 2008, March 2009 and May/June/July 2010 lows. In all three cases the S&P reached an initial price low accompanied by an RSI (relative strength indicator) low. However, a more lasting low was not reached until the S&P recorded a new price low against higher RSI reading.

In other words there had to be a divergence between the S&P and RSI. The S&P and RSI both recorded their initial low on August 9. Now we are waiting for a new S&P low while RSI stays above its August 9 reading.

Seasonality

August, September, and October is the most bearish stretch of the year. September and October sport negative performance even in the pre-election year.

Sentiment

From S&P 1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and sentiment measured by Investors Intelligence (II) and the American Association for Individual Investors (AAII) turned deeply bearish. The June 16 ETF Profit Strategy   update took that as a queue to buy (long positions were closed at S&P 1,340).

From S&P 1,353 on July 7 to S&P 1,102 on August 9 the S&P lost 251 points, yet the II sentiment poll registered the second most bullish reading since the first week of May. AAII and II polls are often considered the 'dumb money.' If the 'dumb money' views last Wednesday's low as a buying opportunity, the 'smart money' should be suspicious.

VIX Pattern

If you have the charting capabilities, take a moment and plot the VIX (Chicago Options: ^VIX) against the S&P for the month of September - November 2008 and April - July 2010. If you don't have the time you may simply look at the chart below.

                                    https://www.etfguide.com/images/PDNewsletter_Images/yahoo%20-%20vix%20pattern.gif

What What we've seen in 2008 and 2010 is that a VIX peak did not coincide with the S&P bottom. The S&P bottom actually occurred against a lower VIX reading. If this pattern continues, we will see lower lows.

The August 14 ETF Profit Strategy Newsletter update includes a detailed analysis of the VIX pattern, along with the time frame and target level for an expected turn.

The Script

Via more or less accidental chart surfing, I found a striking resemblance between the 2007 market top and the May 2011 top.  This moved me to state in the July 17 Profit Strategy update that:

'There is a similar trend line and a triple top above the trend line. A break below that trend line could be a precursor of bad things. Next week the trend line will be at about 1,262.'

The S&P sliced through that trend line on August 4 and fell an additional 12% within the next four days. A deeper analysis of this chart parallel also suggests new lows.

The Outlook

The market's performance over the last couple of days has validated the studies above. We are now waiting for new lows…’

 

 

Market Recap: China Falters, Banks Exposed, and Fed Causes Market to Plummet Wall St. Cheat Sheet, September 22, 2011, Hot Feature: U.S. Home Prices Down 3.3%Today’s markets were down because:1) Fed. Markets plummeted today following dire remarks on the economy from the Federal Reserve. The news of slowing growth also pushed most commodities lower, including oil, gold, and silver, while only Treasuries moved higher as investors sought one of the few safe havens left. The Fed’s announcement of Operation Twist yesterday failed to instill much confidence in the economy, and few think the measures will be enough to reverse the economic downswing over the last few months. After all the anticipation leading up to the Fed’s decision, investors were left with the understanding that not even the Fed has the power to turn this thing around. 2) China. Through all the economic turmoil that has engulfed the globe over the last few years, China has been the one shining beacon of progress and growth. However, despite the fact that China’s economy is still on track to grow 8.5% to 9% this year, its manufacturing sector has been contracting for the last three months now, according to HSBC’s manufacturing PMI. There was a lot of concern over China because heretofore it’s been the one pocket of unstoppable strength in the global economy,” said Paul Larson, chief equity strategist at Morningstar. “If that stops and China becomes a drag on worldwide growth, it could have big implications here in the U.S.” News that China might not be as infallible as once though had a host of popular Chinese stocks plummeting today, including shares of Sohu.com , Youku.com , RenRen , Sina Corp. , and Baidu.com , which fell nearly 11% today.3) Banks. After Moody’s downgraded some of the nation’s top banks yesterday, investors are growing worried about the financial industry’s exposure to the sovereign debt crisis in Europe. Not only were Bank of America , Wells Fargo , and Citigroup continuing to slide today after Moody’s downgraded them, citing the unlikelihood that the government will step in should the financial sector find itself in a similar situation to that of 2008, but the entire sector fell on concerns that Moody’s was right. Barclays , JPMorgan , Goldman Sachs , and Morgan Stanley were all heavy drags on the markets today. European banks were trading sharply lower for the same reason, with France’s SocGen and Credit Agricole falling 9.5% each, while Deutsche Bank and Credit Suisse also underperformed the markets. BONUS: Jobless Claims Continue in the Wrong Direction



Federal Reserve's Twist of Fate Forecasts a Waterfall Into Early Octoberat MinyanvilleEurope debt crisis, dire economic reports cause Dow plunge Sep 22nd, 2011 News (HousingWire) Live Blog: Market Meltdownat The Wall Street JournalEU officials expect Greece to default but stay in eurozone London Telegraph | There is a growing consensus among EU diplomats and officials that Greece will default while remaining inside the eurozone.Depressed As A Nation? 80 Percent Of Americans Believe That We Are In A Recession Right Now The Economic Collapse | According to a brand new Gallup poll, 80 percent of Americans believe that we are in a recession right now. Soros: US Is Already in Double-Dip Recession CNBC.com | Soros said he believed the United States was already experiencing the pain of a double dip recession.



Stocks: Don't Get All Comfortable Just Yet at The Wall Street Journal Brendan Conway ‘Just as investors are coming out of their bunkers, S&P chartist Mark Arbeter says that the stock market is “breaking down” in “what could be a very nasty prelude to the fourth quarter.”He adds that “we do not think it will be long before the August lows get taken out.”The technician predicts that the S&P 500 will break through support at 1,110-1,120 to “eventually” meet its next support level around 1,020, or another 11% below Friday’s levels.“It appears that the next wave down has begun in earnest, and we recommend extreme caution at this point,” he says.’

 

 

Fed vs Market - Will Selling Pressure Overpower Operation Twist?   Simon Maierhofer, September 23, 2011, The Fed just unleashed a $400 billion package to boost the economy. To say the market didn't react favorably would be an understatement.

The Financial Select Sector SPDR (NYSEArca: XLF - News) greeted the program with an 8% haircut. The S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) fell 4-6%. On the bright side, the yield of the 10-Year T-Note dropped another 0.242%, from one all-time low to the next.

Will 'Operation Twist' buoy stocks or will the market overpower the Fed's half-hearted effort? Believe it or not, but after some more suffering, I believe the Fed will eventually reap some (temporary) credit for this stick save (more about that in a moment).

Bernanke Must be Surprised

In his February 9, 2011 speech before the U.S. House of Representatives, Ben Bernanke was quick to take credit for the results of QE2: 'Since then (the onset of QE2), equity prices have risen significantly, volatility in the equity market has fallen. All of these developments are what one would expect to see when monetary policy becomes more accommodative.'

On February 9, the S&P closed at 1,320, the VIX (Chicago Options: ^VIX) at 15.87. Today the S&P is 13% lower while the VIX has soared a stunning 160%. Bernanke's credibility has tumbled somewhere between 13 and 160%.

Contrary to Bernanke's upbeat outlook, the ETF Profit Strategy Newsletter published the following chart just a week after Bernanke's comfy cozy assessment of QE2 and the stock market's reaction.

                       https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif

The chart shows a giant bearish head-and shoulders or M-pattern. At the time, the Newsletter projected a market top at 1,382 - 1,385. The April 4 ETF Profit Strategy update refined the target range: 'In terms of resistance levels, the 1,369 - 1,382 range is a strong candidate for a reversal of potentially historic proportions.'

Sleep in the Bed You Made

Operation Twist - the Fed's latest concoction - became necessary because QE2 didn't stick. Banks (NYSEArca: KBE - News) graciously accepted the generous $600 billion donation, but despite the huge cash infusion, the Banking Index today trades 22% below its November 3, 2010 prices,  when QE2 was launched.

Will Operation Twist be More 'Successful' than QE2?

QE2 created $600 billion out of thin air while Operation Twist merely changes the maturities of the Fed's existing balance sheet.

Over the next nine months the Fed will sell $400 billion worth of short-term (3 years or less) Treasuries and use the proceeds to buy maturities ranging from 6 - 30 years. Maturing mortgage-backed securities (MBS) will be re-investing in MBS, not in Treasuries.

If you are wondering how this approach of transferring money from the left to the right pant pockets makes a difference, you've already found the reason for the post FOMC-announcement meltdown.

Wall Street considered the proposal half-hearted and the stated goal of lowering long-term interests unnecessary, especially considering that the yield on the 10-Year T-Note is already at a multi-decade low.

Range bound Trading with a Purpose

From July 21 - August 8 the S&P lost nearly 250 points. Nevertheless, the August 8 TF made clear that there will be another low and stated that: 'One of the conditions for a market bottom is lower lows against improving breadth. Breadth was horrible today and no lasting low was reached. What generally tends to happen within a major sell off is a period of time where stocks take a breather followed by the final leg down. This final leg sports lower prices but improving breadth.'

Support at 1,121 held and the S&P was due for a 'breather period.' The back and forth of the recent weeks qualifies as just that. It also shows that there's a method behind the market's madness.

Range bound trading lulls investors into a false sense of security and makes traders gun shy before pulling the proverbial rug out from underneath them.

In a special Tuesday's pre-FOMC decision update, the ETF Profit Strategy Newsletter pointed out that the down side risk remains much bigger than the up side potential and that the direction for XLF is down as long as it doesn't move above the 20-day SMA at 12.70 and last week's high at 13.04.

Connoisseurs of technical analysis will find the following chart of interest. The update brought out that percentR (a measure of relative strength) moved above 80 for the first time since late July. The chart below (featured in Tuesday's update) showed what happened the last two times percentR moved above 80 - stocks dropped.

                                             https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20-%20spx%209%2020%2011.gif  

The actionable recommendation given was for aggressive investors to go short with a break below 1,191. Selling accelerated as soon as the S&P broke through the support at 1,191 and didn't stop until the S&P reached support at 1,121.

There were seven other reasons why I expected new lows (see August 14 and 21 update for a concise summary), one of them is seasonality. August, September, October is a bearish time of year, even during Presidential election years…’



Are We Japan Yet? No! But Closer!

 

More Pain Is Coming To Equities  http://regator.com/p/253227580/more_pain_is_coming_to_equities   By Penguin Capital Markets: ‘Run! That's what equity markets are screaming right now, and I have to agree. While markets have already dropped in reaction to the poor FOMC announcement, we've only scratched the surface of what could be another free-fall in stocks. The already significant drop in copper is a leading indicator that the recession. Look how the metal has just recently lost all its price momentum as of August.’

 

[video] Preservation of Capital Is (and should be, since much worse to come, the primary) Priorityat TheStreet.com

 

Taken to Task: ‘Free Market’ Champions Go Begging for Bailouts (Reprise)The Daily Ticker Aaron Task ‘Financial markets tumbled this week amid disappointment the Fed didn't do more and general disgust with the lack of action from European policymakers.

Which brings us to another installment of Taken to Task.

For all the talk about how traders love the free market and believe in the principles of unfettered capitalism, the folks on Wall Street can't seem to get enough of government bailouts.

After Ben Bernanke pledged to spend $400 billion on Operation Twist this week, I heard many more complaints about how the Fed didn't do ENOUGH vs. any chatter about how they've gone too far, are out of bullets and pushing on a string. That's so "first-half of 2011" before the stock market turned south, that is. (See: Fed Action Fails To Boost Animal Spirits: "Marginally Helpful," Says Former Fed Governor)

It seems the bold champions of free markets on Wall Street only like laissez faire capitalism when the markets are RISING.

This weekend, traders are hoping for some plan — ANY plan — to deal with Greece, whether it comes from the ECB, the IMF, the World Bank, Poseidon or Zeus. But nobody seems to be wishing to just let the chips fall where they may. Haircuts for bondholders? Write-downs for banks? Egads! The pain must be avoided at all costs! (See: Apocalypse Now? Markets Tumble as Europe Approaches "Tipping Point")

Of course, a generation of traders has been conditioned to believe the Fed — or some other institution — will come riding to their rescue if things get really dicey, or even just a little bit uncomfortable. So we can't blame them for taking on too much unhedged risk and (not-so) secretly hoping for yet another bailout, can we?

Just like there are no atheists in foxholes, the really are no libertarians on Wall Street. The only ideology traders believe in is making money and if that means more government intervention, bring it on! Someday, maybe, we'll get back to something approaching a free market. But if such a thing ever really existed, it was a long time ago in a galaxy far, far away.’

 

China Slowdown Pushes Chinese Internet Stocks and VIEs Off a CliffWall St. Cheat Sheet 


Moody's downgrades 8 Greek banks ATHENS, Greece (AP)



European and US Economies Teetering on Weak Policy, Leadership at Minyanville Kerr Sep 23, 2011 ‘Keeping up with today's financial and economic news is akin to watching a typical reality TV spot.’

 

Global economy pushed to the brink Sep 23rd, 2011 News (Financial Times) — Time is running out to find a solution to the eurozone crisis and prevent another global recession, finance ministers warned on Friday, as they hinted that discussions were under way to boost the firepower of European rescue funds.Financial markets experienced another day of intense volatility as investors struggled to interpret an emergency statement from the Group of 20 leading economies, which met on the sidelines of the International Monetary Fund and World Bank meetings in Washington.…Gold continued to slide sharply and US oil prices traded below $80 a barrel, their lowest in more than a year. Shares rallied modestly in Europe and the US, accompanied by selling in government bonds and the dollar.[ http://www.ft.com/intl/cms/s/0/9bedaa82-e603-11e0-960c-00144feabdc0.html#axzz1YUm6X1iD  ]

 

CME raises margins for gold, silver, copper Sep 23rd, 2011 News  (MarketWatch) — The CME Group CME +0.00% , the parent company of the New York Mercantile Exchange, on Friday raised margin requirements for some gold, silver and copper futures contracts. Margins are money investors must put up to be able to trade and hold futures contracts. Initial requirements for gold’s benchmark contract rose 21% to $11,475 per contract, from $9,450 and maintenance margins climbed to $8,500 from $7,000 per contract. Initial requirements for silver’s benchmark contract rose 16% to $24,975 per contract, from $21,600 and maintenance margins climbed to $18,500 from $16,000 per contract.[source]PG View: It is likely that expectations of this margin hike factored into today’s sell-off.

Gold Plunges More Than $100 as Investors Sell Sep 23rd, 2011 News (Bloomberg) — Gold fell, capping the biggest two- day plunge since 1983, on investor sales following routs in global equity and commodity markets.More than $3.4 trillion has been erased from equity values this week, sending a global measure of shares into a bear market, on concern that governments are running out of tools to avert a recession. The Standard & Poor’s GSCI Index of 24 commodities fell to a nine-month low today. Gold has dropped 15 percent since reaching a record $1,923.70 an ounce on Sept. 6.“Gold has become the source of liquidity for global margin calls,” said Michael A. Gayed, the chief investment strategist at Pension Partners LLC. “Also, deflationary pressures are acting on gold.” PG View: We’ve seen very strong physical buying interest on this retreat. Savvy investors know from experience that deleveraging breaks provide buying opportunity. The dollar and bonds may be up for now, but most realize that they aren’t the true safe-havens that they once were, and such allocations are therefore unlikely to prove sticky.

Dow Sinks 6.4% for Week Sep 23rd, 2011 News (Wall Street Journal) — Fears of a possible Greek default and the U.S economy dipping back into recession pushed the Dow Jones Industrial Average to its worst weekly decline since the depths of the financial crisis.Stocks edged slightly higher on Friday, as a pledge from global officials to maintain financial stability alleviated some investor anxiety. The slim gains, however, failed to overshadow the market’s poor weekly performance.The Dow edged up 37.65 points, or 0.4%, to 10771.48. But the index, which plunged 675 points on Wednesday and Thursday, finished the week down 6.4%, its worst performance since the week ended Oct. 10, 2008. [source]

 

G20 vows support for the global economy Sep 23rd, 2011 News (Financial Times) — The Group of 20 leading economies pledged a “strong and co-ordinated” effort to stabilise the global economy in an attempt to calm tumbling equities markets spooked by fears of recession in the eurozone and a gloomy economic outlook in the US.Bowing to pressure from investors to take action, finance ministers from the G20 economies said in a communiqué issued late on Thursday that they would stop the European debt crisis from deluging banks and financial markets, and take the necessary steps to bolster the eurozone’s rescue fund and assist banks to boost capital reserves in line with new global regulations. The statement followed a day in which the equity markets suffered some of the biggest falls since the collapse of Lehman Brothers in 2008, as investors rushed to safety in a widespread sell-off.“We commit to take all necessary actions to preserve the stability of banking systems and financial markets as required,” the group said in a statement. “We will ensure that banks are adequately capitalised and have sufficient access to funding to deal with current risks and that they fully implement Basel III along the agreed timelines.”[source]

 

Dollar gains driven by flight to safety Sep 23rd, 2011 News (Financial Times) — Risk aversion in equity and commodities markets drove the dollar higher this week as hopes for economic recovery were dealt another blow by the Federal Reserve’s latest assessment of US growth.The dollar climbed across the board on Thursday as investors sought safety and global equity markets tumbled with other risk assets, including industrial metals and oil. The latest catalyst for investors to flee for cover was the Fed’s statement on Wednesday that there were now “significant downside risks to the economic outlook”.[source]PG View: Should more accurately say “perceived” or “relative” safety.

 

Gold trades under $1,700, loses 4% Sep 23rd, 2011 News (MarketWatch) — Gold futures slid below $1,700 an ounce on Friday, losing more than 4% as turmoil in global financial markets continued and investors rushed to sell metals positions to raise cash. [source]

 

New York Fed re-monetized $0.930 billion in Treasury coupons in today’s QE2.5 operation. Sep 23rd, 2011 News

Morning Snapshot Sep 23rd, 2011 News (USAGOLD) — Gold extended sharply lower in overseas trading, pushing below the $1700 level for the first time in 7-weeks, as the global asset rout continues. The dollar remains well bid, trading near 7-month highs, bolstered by flight out of stocks and out of the euro.The G20 vowed “strong and co-ordinated” support in their communiqué late yesterday, saying “We commit to take all necessary actions to preserve the stability of banking systems and financial markets as required.” However, the absence of specifics did little to reassure markets. The market now looks to weekend IMF and World Bank meetings for guidance.Meanwhile, Congress is embroiled in yet another partisan battle, this time centered on a continuing spending resolution. The Republican controlled House passed a spending bill yesterday, but the Democrat controlled Senate has vowed to shoot it down. Failure to pass a resolution could result in a government shut-down next week. This is exactly the kind of behavior that promoted S&P to downgrade the US.

• France business confidence falls to 99 in Sep, below market expectations, vs 105 in Aug; production outlook tumbles to -29.
• Italy retail sales (sa) -0.1% m/m in Jul, below market expectations of +0.2%, vs negative revised -0.3% in Jun; -2.4% y/y.’

 


Investors Lose Faith in Stocks LAURICELLA ‘European nations, flirting with recession, can't agree on how to climb out from under their pile of debt. The U.S. is careening toward a budget fight that threatens to shut down the government. China's mammoth economy may be downshifting. And across the financial markets, a sea change is taking place. Investors are abandoning the time-tested "stocks for the long run" optimism that dominated since the late 1980s. Instead, there is a widening belief that the mess left behind by the housing bubble and financial crisis will be a morass to contend with for years. In a historic retreat, investors world-wide ...’



Don't Call It (Much of) A Comeback at The Wall Street Journal John Shipman ‘US stocks rebounded in a vigorous rally that comes after the market’s worst week in almost three years.It would be disingenuous to suggest these gains were fueled by any real tangible progress on the European debt mess; multiple sharp spikes higher during the day suggest a combination of short covering, end-of-month portfolio window dressing and dead-dog bounce…’

 

 

End of Quarter Price Mark-Ups; Dave’s Daily   http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-daily.html  Dave Fry  9-27-11 ‘All you need do is view the last week of June 2011, the previous quarter end, and you'll note a similar quarter end jam-job. That week featured little bullish news to account for that market rise. And, this week all we have is "hope" and some elegant press releases which amount to nothing without specific action. Most of the so-called "euro zone fix" seems "iffy" and not clearly articulated beyond the "we must do something" mandate. Germans are particularly obstinate over their share of the burden. They have a parliamentary vote on the issue on Thursday. Chancellor Merkel's coalition may be falling apart. Greeks don't like hardly any of the sacrifices they need to make and social unrest is a given. I'll just repeat what was noted in yesterday's commentary: "DeMark weekly 9 "buy to close short positions" littered the European equity and U.S. bond landscape. With global equity correlations over 95% and these indicators being reliable, we saw immediate rallies. If bulls can continue this rally throughout the week fees for portfolio managers will be less negatively affected.  Sure it's cynical to say but it's also illegal to do. Who's gonna stop 'em? …’ [ Isn’t that the point! Nobody’s stopped them nor prosecuted them for their nation-destroying frauds in the trillions; not the dirty handed and compromised / complicit SEC nor DOJ, nor wobama despite false promises to the contrary, etc.. ]

 

 

Split opens over Greek bail-out terms Sep 27th, 2011 15:37  News (Financial Times) — A split has opened in the eurozone over the terms of Greece’s second €109bn bail-out with as many as seven of the bloc’s 17 members arguing for private creditors to swallow a bigger writedown on their Greek bond holdings, according to senior European officials.The divisions have emerged amid mounting concerns that Athens’ funding needs are much bigger than estimated just two months ago. They threaten to unpick a painfully negotiated deal reached with private sector bond holders in July.…Because of the recent economic downturn and Greece’s slow implementation of austerity measures, officials estimate Athens’ funding needs over the next three years have grown beyond the €172bn forecast this summer.[source]

PG View: Missed numbers out of Greece? Say it isn’t so. How far beyond €172 bln are we talking here? Does any number they give have any meaning? The funding needs when the last deal was cut back 0n 21-Jul where €109 bln, since then Greece’s needs have exploded about 60%…or more! No sane investor would throw more money into this sinkhole of unknowns.

 

SHILLER: House Prices Probably Won’t Hit Bottom For Years Sep 27th, 2011  News (BusinessInsider) — The July numbers for the most widely followed measure of house prices, the S&P/Case-Shiller Index, were released this morning.The numbers weren’t terrible–on a seasonally adjusted basis, July was basically the same as June–but one of the creators of the index, Professor Robert Shiller of Yale University, isn’t taking much solace in them.The economy has deteriorated significantly since July, Professor Shiller observes, and he suspects that the housing market has followed suit.[source]

Roubini: U.S. in Throes of Economic Contraction Sep 27th, 2011 News (Bloomberg) — Most advanced economies are lapsing back into recession while the U.S. is already in the throes of an economic contraction, according to Nouriel Roubini, co- founder and chairman of Roubini Global Economics LLC.“The way I see the global economy, I think we’re entering into a recession again in most advanced economies,” Roubini said in a panel discussion today at the Bloomberg Dealmakers Summit in New York. “I think we’re already into one in the U.S. based on the hard and soft data — same with most of the euro zone, same with the United Kingdom.” [source]

 

 

Mark Hulbert, MarketWatch CHAPEL HILL, N.C. (MarketWatch) [ Of course Mr. Hulbert is correct in pointing out the folly of what’s causing the meltdown. Indeed, he might even borrow from the homespun wisdom of the mama of that stellar investigatigative reporter, formerly of SNL fame, Rosanne Rosanna Dana, who reminds us ‘ It’s always somethin’ ‘ . Indeed, Rosanne; it is always somethin’… just not the somethin’ that the frauds on wall street et als say it is. The fact is the markets are grossly over-valued courtesy of a myriad of fraudulent tools; from computer-prgrammed high-frequency trade churn-and-earn scams, to ever more worthless funny money, to blatant misrepresentation / fudged numbers, etc.. Will you be left holding their worthless bag of hot potatoes? Will you be their fool … again … in this suckers’ market? ]  — ‘Greece ate my homework. Not only that, if you believe the financial headlines, Greece is responsible for almost every financial ill that has beset the investment arena over the last 18 months. I say it’s time the headline writers came up with a new story to “explain” what’s happening to the stock market.

Consider last week, for example, when investors’ concern about a possible Greek default supposedly caused the Dow Jones Industrial Average DJIA +1.33%   to lose 738 points and the combined market capitalizations of all publicly traded stocks in the U.S. to lose $865 billion.
How could Greece have been the cause of that, when Greece’s total sovereign debt (counting both government debt and from the country’s monetary authorities) amounts to $393 billion, according to the International Monetary Fund? It doesn’t make sense, even if Greece’s debt were completely owed to U.S. banks — which it most definitely is not.

Blaming Greece makes even less sense when we focus on more than just the last week. Since the stock market high this spring, for example, U.S. stocks have lost approximately $2.5 trillion in market cap. Once again, the prime suspect is concern over Europe’s debt situation.

Yet the $2.5 trillion loss is more than twice the total debt (from both the government and the monetary authorities) of Greece, Spain and Portugal combined — the three PIIGS countries considered to be most in danger of default.

Why, then, do so many investment commentators persist in telling the story that Europe’s debt situation is to blame? Because it’s a convenient and easy explanation to fall back upon, especially in the face of a market that is otherwise acting so inscrutably.

How many of us have the guts to say that we don’t really know why the market went up or down? Rather than admitting that, we instead tell stories — akin to Rudyard Kipling’s “Just So” stories, such as the one about how the leopard got his spots.

Blaming Greece is only the latest example of this. My perennial favorite is the oft-used explanation that the market went up (or down) on a given day because there were more buyers than sellers (or more sellers than buyers). This is just intellectual laziness, of course: During any trading session there are always the same number of buyers and sellers.

Investors need to let Greece rest in peace. That country has enough problems of its own without being asked to take responsibility for ours as well.’

 

 

 

Bernanke calls unemployment a ‘national crisis’   28 Sep 2011 Fed chief Ben Bernanke said Wednesday that the nation’s weak labor market was “a national crisis” [ Duh! No-recession-wall-street-lovin’-helicopter ben’s … done it again! … brilliant description of unfortunately what already is thanks in large part to his wall (fraud) street largess / welfare in the form of QE’s, etc..]

 

 


Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Moneynews) ‘The Aftershock Survival Summit is a gripping, no-nonsense presentation that’s quickly becoming a financial beacon in an economic tsunami.

Featuring an exclusive interview with famed economist and best-selling author Robert Wiedemer, this disturbing presentation exposes harsh economic truths along with a dire financial warning — a prophetic message that’s spreading across America like wildfire.

But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention.

 

It offers realistic, step-by-step solutions that the average hard-working American can easily follow; millions have already heeded its warnings and are rapidly sharing the Aftershock Survival Summit throughout the Internet. To see it for yourself, simply click here.

The overwhelming amount of feedback to publicize the presentation, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content.

“People were sitting up and taking notice, and they begged us to make the Aftershock Survival Summit public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.”

The controversy stems from direct allegations that the people in Washington have failed miserably. They include former Federal Reserve Chairman Alan Greenspan and current Federal Reserve Chairman Ben Bernanke, tasked with preventing financial meltdowns and keeping the nation’s economy strong through monetary and credit policies.

At one point, Wiedemer even calls out Ben Bernanke, saying that his “money from heaven will be the path to hell.”

This wasn’t the first time Wiedemer’s predictions hit a nerve. In 2006, he and his team of economists accurately predicted the four-bubble meltdown in the housing, stock, private debt, and consumer spending markets that almost sunk America.

Regardless of his warnings and survival advice, Bernanke and Greenspan were not about to support Wiedemer publicly, nor were the mainstream media.

As the warnings went unheeded, and America suffered the consequences, Wiedemer penned his latest prophetic work, “Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown.”

Once again his contrarian views ruffled feathers and just before the book was publicly released, the publisher yanked the final chapter, deeming it too controversial for newsstand and online outlets such as Amazon.com.

Despite appearances, “Aftershock” is not a book with the singular intention of scaring people, explains DeHoog. “The true value lies in the sound economic survival guidance that people can act on immediately. I was able to read the original version with the ‘unpublished chapter,’ and I think it’s the most crucial in the entire book. After contacting Wiedemer, we [Newsmax] were granted permission to share it with our readers. In fact, viewers of the Aftershock Survival Summit are able to claim a free copy of it.”

In the Aftershock Survival Summit, Wiedemer reveals what the publisher didn’t want you to see. Citing the unthinkable, he provides disturbing evidence and financial charts forecasting 50% unemployment, a 90% stock market collapse, and 100% annual inflation.

“I doubted some of his predictions at first. But then Robert showed me the charts that provided evidence for such disturbing claims,” DeHoog commented.

Editors Note: The Aftershock Survival Summit shows the exact same charts. See them for yourself.  http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1   … ‘


Read more: Aftershock Survival Summit Predicts the Unthinkable
Important: Can you afford to Retire? Shocking Poll Results



 

Prepare for Lehman Brothers Part 2  MoneyShow.com Sep 15, 2011 ‘Three years ago, Lehman collapsed. Now, a new Lehman-like financial crisis is coming -- this time involving the debt of governments and European banks.’

 

 

 

 

Arguments for Being in the Crash Camp   Conor Sen Sep 28, 2011 ‘This has been the sixth-most volatilite September since 1950. The only years more volatile? 2002, 2001, 1974, 1998, and 2008, years which included two major stock market bottoms (1974 and 2002), 9/11, Long Term Capital Management, and the fall of Lehman Brothers. Despite the crazy volatility, it is my contention that nothing meaningful has really happened this month. As we know, the reason for the volatility is primarily because of the ongoing sovereign debt crisis in Europe. And as news events of today confirm, we remain no closer to resolution here, even as stress indicators continue to deteriorate.

For example, while markets were surging today, German finance minster Wolfgang Schaeuble was out saying basically the same things he's been saying all along, that Germany is opposed to further bailouts or fiscal stimulus, and Europe's periphery should resolve its problems via fiscal consolidation.

  • Schaeuble Says 'Will Not Spend Our Way' Out of Crisis
  • Schaeuble Says 'Immediate Fiscal Reforms Are of the Essence'
  • Schaeuble Says Increasing EFSF Would Damage Some AAA Ratings
  • Schaeuble Says Monetary Policy 'Not the Way' to Solve Euro Woes

Later in the day, as the Financial Times reported, problems were surfacing regarding Greece's latest bailout package:

"A split has opened in the eurozone over the terms of Greece’s second €109bn bail-out with as many as seven of the bloc’s 17 members arguing for private creditors to swallow a bigger writedown on their Greek bond holdings, according to senior European officials."

What We Know:

  • Germany remains adamantly opposed to bailing out the periphery.
  • European and US macro data continues to weaken.
  • Greek debt is pricing in default, which, if it occurred, would be chaotic and unpredictable.
  • Austerity in the periphery is not working.
  • European sovereign yields continue to indicate worsening stress.
  • Over the past month Italy's 2-year yield has risen from 3.36% to 4.26% and its 10-year yield has risen from 5.07% to 5.60%.
  • Spain's 2-year yield has risen from 3.27% to 3.36% and its 10-year yield has risen from 5.00% to 5.05%
  • Germany's 2-year yield has fallen from 0.65% to 0.53% and its 10-year yield has fallen from 2.16% to 1.96%.
  • Contagion fears continue to increase.
  • The VIX has risen over the past month from 35.59 to 37.71.
  • Bank of America (BAC) CDS has widened from 333bps to 382bps.
  • Goldman Sachs (GS) CDS has widened from 240bps to 265bps.

Nothing's fixed and we're no closer to a fix. Bad news.

The good news is if history is any guide, we're likely no more than two to three weeks away from mercifully putting in a bottom for the rest of the year if we haven't already. Looking at those five years with Septembers more volatile than this one, the September-December low occurred on 10/3/74, 10/8/98, 9/21/01, 10/9/02, and 11/21/08 (though a major low in internals occurred on 10/10/08 and if you had bought that low you would've broken even through year-end). For whatever reason early-mid October is when final flush-outs tend to occur. Unfortunately this means the European crisis will most likely be the cause of yet more systemic pain in 2012…In a way these companies benefit from the current macro environment because it keeps valuations depressed and interest rates low, allowing them to borrow money cheaply and buy back more stock than they'd be able to at non-stressed valuations…’

 



Short-Selling Bans Extended, Stocks Fall Harder at The Wall Street Journal

 

Now's Not the Time to Take on Equity Market Exposure at Minyanville Erik Swarts Sep 28, 2011 ‘This is obvious when you consider the respective pieces that need to come together to resolve the sovereign debt crisis, and apply technical analysis to the charts.

 

[video]Buying on Rumor - Prepare For The Selling On NewsTheStreet.com TV

 

The Biggest Borrowers From Uncle Ben Bernanke at Forbes ‘It comes as little surprise that America’s biggest banks are among the heaviest borrowers from the Federal Reserve’s unprecedented liquidity facilities during the financial crisis that doled out more than $1.2 trillion. An analysis of thousands of documents by Bloomberg News shows just how big the outlays to some of the world’s largest financial firms really were, including the 20 that follow and saw their outstanding loans peak at more than $25 billion… { Read Full Story http://www.forbes.com/sites/steveschaefer/2011/08/23/morgan-stanley-leads-biggest-borrowers-from-uncle-ben-bernanke } ‘

 

 

THE GREATEST SHOW ON EARTH  September 29, 2011   http://www.etfdigest.com

http://albertpeia.com/circuswallstreet.jpg

Yes, I’ve used this image before but it befits the past two months of frenetic two-way trading. Thursday markets moved sharply higher early on news of better Jobless Claims and GDP data plus the positive vote from the German parliament regarding funding their portion of the euro zone’s EFSF (European Financial Stability Facility).

Algos jumped on the headlines which is what they’re programmed to do. They don’t look under the hood for details since given their momentary focus, “facts don’t matter”—not at least right away.

A closer look inside Jobless Claims data is the consistent revisions for higher previous claims. This makes current reports generally seem better by comparison. Further, the BLS states with this report the significant impact of “seasonal factors” skewing the report. The figures used to adjust the data typically look for a drop in un-adjusted claims heading into the end of a quarter. For last week however, the seasonal adjustment factors predicted unadjusted claims would rise 0.4 percent per the Labor Department. Instead, unadjusted applications followed the typical patterns at the end of quarters and plunged 8.2 percent, leading to the even bigger drop in the adjusted data.

Below is an analysis of the GDP report directly from the always reliable and probative Consumer Metrics Institute.

The Bureau of Economic Analysis's (BEA) third estimate of second quarter 2011 U.S. Gross Domestic Product (GDP) was reported to be 1.34%, an upward adjustment from their previous data. The new growth number was .36% higher than the number reported last month for the same quarter. It is important to remember that this new monthly report covered the same time periods as the previous reports -- meaning that this monthly set of changes in the numbers was caused by late arriving data at the BEA and not actual month to month improvements in the economy.

Among the items notable in the report:

-- Aggregate consumer expenditures for goods was still reported to be contracting during the second quarter, dragging the overall growth rate of the economy down by a -0.38% rate. This is actually marginally weaker than the numbers in the earlier reports.

-- Consumer expenditures for services grew slightly during the quarter, at an improved (although still very sluggish) 0.87% annualized growth rate. But the adjustment in this single line item represented the bulk of the improvement in the headline number.

-- The growth rate of private fixed investments was only slightly higher, at a weak annualized 1.07% rate.

-- Inventories are still reported to have been drawn down during the quarter, indicating that production has slowed faster than demand. The revised estimate of inventory levels caused the overall growth rate to be reduced by a -0.28% annualized rate.

-- Total expenditures by governments at all levels was still reported to be shrinking, reducing overall economic activity at a -0.18% annualized rate.

-- Exports strengthened slightly relative to the earlier report, raising the contribution that they made to the overall GDP growth rate to 0.48%.

-- Imports decreased somewhat when compared to the earlier report, and are now reported to be removing -0.24% from the growth rate of the overall economy. The combination of the revisions in the import and export numbers contributed about half of the upward changes in the published headline number.

-- The growth rate of "real final sales of domestic product" was revised upward to an annualized 1.62%, as the result of the now higher consumer services figures, slightly improved foreign trade and the increased draw-down of inventories.

-- Working backwards from the data tables, the effective "deflater" used by the BEA to offset the impact of inflation was 2.58% -- still substantially below the rates reported by their sister agencies. Substituting the line-item appropriate (CPI or PPI) current inflation rate published by the Bureau of Labor Statistics (BLS) causes the "real" GDP to be contracting at a -0.73% annualized rate.

-- And using the same alternate BLS "deflaters" the real per-capita GDP can be shown to be contracting at a -1.45% annualized rate. Similarly, per-capita disposable income was contracting at a -0.92% annualized rate. These per-capita numbers are what impacts individual Americans and it is the real source of the frustration within the populace.

Not featured by the financial media beyond Bloomberg is Thursday’s report and graph on their Consumer Comfort Survey which shows this index as back to 2008-09 levels. This is hardly encouraging.

http://albertpeia.com/comfort.jpg

Fed Governor Lockhart finds current jobless conditions “perplexing and vexing” according to this Bloomberg story. So if I have my synonyms and meanings right he’s “embarrassed and pissed-off” which kind of disqualifies him from such a position.

Meanwhile back at Wall & Broad stocks as measured by the DJIA raced higher early by 260 points only to fall later by 45 points and then rally in “stick save” fashion to close 143 points higher. This really is the “Greatest Show on Earth”! The NASDAQ was lower by .43% led by semiconductor sectors (SMH) especially after a poor outlook from Advanced Micro Devices (AMD), down nearly 14%. Also there is still some lingering confusion over iPads from Apple (AAPL) versus Fire from Amazon (AMZN). Financials were higher which helped much of the bigger names rally although the rationale was difficult to determine.

Commodities, including precious and base metals, oil and grains were higher overall. The dollar was down slightly and bonds were stronger.

Volume was modest most of the day until the large “stick save” was put in place to end the session. Breadth per the WSJ was positive once again as quarter-end window dressing is in full swing.

http://albertpeia.com/929-1.jpg

 

Major U.S. Markets (5)
U.S. Market Sectors & ETFs (20)
Bonds (4)
Commodity & Currency ETFs (16)
International & Emerging Market ETFs (14)
$NYMO (1)
$NYSI (1)
$VIX (1)

 

The craziness continues for the clown act doing business as the Greatest Show on Earth. It’s no wonder so many individual investors have fled markets. Between phony data and window dressing it’s hard to stick with the long-term program. Three bear markets in 11 years would be enough to turn anyone off. Now we’re not in a bear market yet but we’re frightfully close.

Friday brings the not so reliable U of Michigan Consumer Sentiment, Personal Income and Spending and the important Chicago PMI. Friday also will allow for more end-of-quarter window dressing.’

 

[video] Trader: I'd Sell Into This Rally at TheStreet.com 

 

CEOs have the Blues About Business Prospects Wall St. Cheat Sheet 

 

 

Video: Wall Street Employees / Fraudsters Laugh, Drink Champagne as Protestors Rage Belowat Minyanville (Thu, Sep 29)

 

 

 

Housing Market Hasn’t Bottomed … : Mort Zuckerman - Peter Gorenstein ‘…"And they don't want to buy assets that are going down in price." That may be true, but there must be millions of consumers who look back on their subprime mortgage with regret.’



NO COUNTRY FOR OLD MEN Dave’s Daily http://www.etfdigest.com September 30, 2011  ‘It’s probably not a “market” for men or women of any age at this point. Warren Buffett has put himself out there recently buying stock in Bank of America (BAC) and then suggesting Friday it might take 3-5 years for the company to clean things up. He also stated he’s received inquiries from European banks for a financial injection which isn’t a good sign. He’s also been highly visible averaging down buying shares in his own Berkshire Hathaway (BRK/A) with $5 billion in purchases already this quarter. He says he likes the president’s jobs bill although admitted to not knowing its details which is poor due diligence. He’s also unsure of just what Obama’s “Buffett Rule” means as it applies to incomes over $250K deflecting the level by talking about people making $50M or more. All this struck me as interesting and odd … So for stocks overall this is the worst performing quarter since 2008 when we were entering a bear market. Are we due for a repeat or is this just a continuation of the previous bear market? It gives us a sense of a 1930s like market which featured substantial bear market rallies. For the quarter the DJIA was down 12%, S&P 500 down 14.3% and Nasdaq Composite down 12.9%. European stocks in aggregate lost 17% …’



How to Navigate a News-Paralyzed Market  Simon Maierhofer, September 30, 2011, ‘… Here's my psychoanalysis of the market, which I believe is more accurate than my medical opinion. The market has one goal, one reason for 'living.' It's to separate as many people as possible from their money. He doesn't always win, but over the decades he's found the most effective ways to separate most from as much money as possible. He's got a tackle box full of baits and lures to bait and switch unassuming investors. The market is smarter than the collective of all investors and analysts because it knows at any given time what the collective 'Wall Street wisdom' thinks and does. If the market sees Wall Street is bullish, it will go down and vice versa. The market will not be told by the media what to do and laughs at assessments like the following from the media (taken from this week):

AP on Monday: 'Stocks jump on hopes for a Europe fix'

Reuters on Tuesday: 'Stocks pop on Europe hope'

AP on Wednesday: 'Stocks are closing lower, ending a three-day winning streak, as investors worry about Europe.'

Bloomberg on Thursday: 'Stocks advance on jobless claims' (since when does the market care about jobs anymore. Wasn't there any Greece news?) …’

 

Apple in a Dangerous Position; Bears Are Watching at Minyanville

90% of Americans say economy stinks

 

Protect your investments, what to look for next week.  Forbes ‘ Right now is not the time to worry about knocking the ball out of the park.  Let’s focus on preserving your assets.  Today was end of the quarter and it was not pretty.  For the quarter end we were down about -14.31% on the S&P 500.  As for September, the S&P was down -7.21%, closing at 1131, down 5 points from were we closed Firday the 19th.  The week was extremely volatile; it has gotten to the point where Main Street does not feel safe in a long term asset allocation strategy…’

 

Don't Let Taxes Stop You From Selling Stocks at Forbes

 


Defensive Sectors Shine During Meltdown As Kodak Fades To Black at Forbes  …’

 

4 Market Signs Signaling Recession

 

Cyclical Sector ETFs Say It's the Economy, Stupidat The Wall Street Journal 

 

Japan Puts Cheapest Ever as Traders See Banking Lossesat Bloomberg

 

US incomes fall for first time in nearly 2 years

 

Moody’s Lowers U.S. Lodging Industry Outlook as Economy Slows

 

 

Yield Spread Confirming Recession Call http://www.zerohedge.com/news/guest-post-yield-spread-confirming-recession-call Lance Roberts of StreetTalk Advisors

Yield Spread Confirming Recession Call

Recession.   It is now becoming clearer, even to the mainstream media, that the "Big 'R'" is rapidly approaching, or already upon us.  Without further stimulus from the government the economy will continue its slide into negative growth.  Unfortunately, it doesn't look like the "Calvary" will be charging to the rescue anytime soon.   Bernanke, at this point has effectively punted to the Whitehouse for stimulative action.  The Whitehouse is embroiled in partisan politics which will keep any action from occurring until most likely after the next election.   This leaves the economy and the financial markets to their own devices, and much like kids without parental supervision, they are running amok.

I have been very vocal as of late commenting on the fact that a recession is fast approaching.   The trends of the economic numbers have all soured to the negative.   From manufacturing to personal incomes to sentiment they all are signaling a recession lay ahead.   Another confirming indicator of a recessionary track is the spread in yields between junk bonds and high quality bonds.  The chart here shows two different yield spreads.   The blue represents the difference in yields between AAA rated corporate bonds to BB rated bonds while the red represents the spread between 10-yr government treasuries to BB rated bonds.   The dotted horizontal lines represent when these spreads have signaled recessions in the economy.

When the economy is strong the spread between BB (Junk Bonds) and AAA Bonds or Government treasuries is much lower as the perceived risk of default on payment is lower.    In times of economic stress or recession the perceived risk of default or failure is much greater.   Currently, spreads at these levels are very indicative of economic stress and recessions.  The perceived risk of corporate failure is rising and spreads are widening as money leaves high risk bonds (driving interest rates higher) and moves to safer yielding bonds (keeping rates lower).   The wider the spread the harder it is for weak companies to access capital and corporate failures rise.  

On Friday, Lakshman Achuthan of the Economic Cycle Research Institute reviewed the weight of ECRI's research, observing "Now it's a done deal. We are going into a recession."

The spread in yields combined with our own research as well as that of the ECRI, which is a very conservative organization with calls generally way ahead of the consensus as we have repeatedly been, confirms that our views are most likely the correct one.

While the media tends to view the economy from one report to the next what is important is to understand the trend and the balance of the data on the whole.  Understanding the trend and balance will make you very unpopular with the rest of the world that consistently ops for the "glass half full" view  but will keep you from losing a lot of money in the long run.

John Hussman summed this view up well; "In contrast, good economists think about the economy as a system - where multiple sectors interact. We tend to use words like 'equilibrium' and 'syndrome' when we talk about economic data - emphasizing that the best signals involve a whole conformation of evidence, not one or two indicators, where the data - in combination - captures a particular signature of recession or recovery.

Look at how Achuthan described the situation on CNBC on Friday, and you'll see a good example of this sort of thinking:

'This is a done deal. We are going into a recession. We've been very objective about getting to this point, but last week we announced to our clients that we're slipping into a recession. This is the first time I'm saying it publicly. A broad range - this is not based on any one indicator - this is based on dozens of indicators for the United States - there is a contagion among those forward looking indicators that we only see at the onset of a business cycle recession.. These leading indicators, which are objective.. they have a certain pattern that they present in front of a recession, and that is in, that is in right now.'

'A recession is a process, and I think a lot of people don't understand that; they're looking for two negative quarters of GDP. But it is a process where sales disappoint, so production falls, employment falls, income falls, and then sales fall. That vicious circle has started. You're looking at the forward drivers of that, which are different indicators - there's not one - everything's imperfect. The Weekly Leading Index .. that is saying unequivocally, this is recession. Long Leading Index, which has a longer lead, is saying recession. Service sector indicators, non-financial services where 5 out of 8 Americans work, plunging. Manufacturing, going into contraction. Exports, collapsing. This is a deadly combination, we are not going to escape this, and it is a new recession.'

For investors, if you believe that current analyst estimates of forward operating earnings are correct, and you believe that the inappropriate bubble-era benchmarks for price-to-forward operating earnings are actually valid, and you've ignored all evidence that the Fed Model is spectacularly devoid of validity, and you believe that the only course for valuations is to move toward those misguided benchmarks regardless of what happens to Europe or the U.S. economy, then it's easy to believe that stocks will head higher.  For our part, we believe none of those things..."

We agree with John on this point.   These are points that we have written extensively on in the past.   In a low growth economic environment the persistent call for high growth rates in stock prices is dumbfounding.  History tells us that the corporate earnings, and ultimately capital appreciation, cannot grow faster than the economy for long.   Corporate earnings, and ultimately the prices paid for those earnings, are a reflection of the economy and not vice versa.

There is one final key point to all of this as it relates to the yield spread.   Investors face not only an oncoming recession here but also a probable sovereign default and recession in Europe.  The compounding of these factors translates into heightened credit risk here in the U.S. (as noted by credit spreads jumping  higher recently) and corporations do not borrow at the 10-year treasury rate.  They borrow from the bond market and the rising costs of borrowing due to rising credit risk impacts corporate profitability.  Expectations for earnings growth going into 2012 is still extremely high with current estimates sitting at an all-time record for the S&P 500 index next year.   The reality of that occurring is almost nil.   In turn, this means that prices will have to be adjusted for the reality of a recessionary economy which is why the average decline of stocks during a recession is about 33%.  

John Hussman summed our current stance up very well:  "Still, as always, we're data-driven, and there are possible combinations of evidence (not in hand at the moment) that could move us to a modestly or moderately constructive investment stance even in the context of broader economic risks. My impression continues to be that the best hope for a sustained advance (early on, probably only several weeks or a few months in duration) is from substantially lower levels, but we'll take our evidence as it comes. Suffice it to say that we remain defensive here, but are quite willing to shift our investment stance if the evidence supports that."   Well said.’

 

 

Hold Your Enthusiasm ... This Is Still A Bear Market Rally    http://www.bullfax.com/?q=node-hold-your-enthusiasm-still-bear-market-rally, 10/06/2011 By StopAlerts:We have had three nice rally days, and call volume instead of put volume is dominant, but this is still a bear market rally, in our view. If you are buying specific stocks for specific long-term reasons, that is one thing, but if you are buying indexes it may be best to wait for more of a confirming price movement …’

 

Is a Recession Coming Next Year? – Zacks  While the current economic data is not indicating we are back in recession, I find myself leaning more and more into the "recession in 2012" camp.’ [ This link is provided for the plethora of data / charts but misses the bigger picture of current data in the context of the fraudulent scam dollar debasement strategy of the fed and the inflationary impact of same so cheered by the frauds on wall street for the illusory effect of same. ]

 

[video] Caution Flag On The Rally TheStreet.com Ken Polcari of ICAP Equity warns investors to be careful with this rally, lows could be retested. 10/06/11

 


“The Prevailing Debate Among Economists and Historians is Whether the World Economy Faces the ‘Great’ Depression of the 1930s or the ‘Long’ Depression of the 1870s” Washington’s Blog | Economists Agree: We’re In a Depression.  Fitch cuts Italy, Spain ratings; outlook negative , Wall Street vs Reality: A Hopeless Tug-of-War?  http://symmetrycapital.net/index.php/blog/2011/10/wall-street-vs-reality-a-hopeless-tug-of-war  Are Wall Street strategists living in a bubble? [ The short answer is, ‘YES’! The long answer is your work is quite (closer to) correct (and worse when dollar debasement is factored in).]  According to our work, credit market, demographic, and leading economic  indicators are all pointing to a level of between 800 and 1,000 for the S&P 500 between now and 2012-2013.   http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR

 

 

 

Wall Street vs Reality: A Hopeless Tug-of-War?  http://symmetrycapital.net/index.php/blog/2011/10/wall-street-vs-reality-a-hopeless-tug-of-war  Are Wall Street strategists living in a bubble? [ The short answer is, ‘YES’! The long answer is your work is quite (closer to) correct (and worse when dollar debasement is factored in).]  According to our work, credit market, demographic, and leading economic  indicators are all pointing to a level of between 800 and 1,000 for the S&P 500 between now and 2012-2013…’

 

Paulson's Big Fund Down 47%; Sept. Proves Dicey For Hedgiesat Barrons.com

 

 

Graham Summers Weekly Market Forecast (Dexia Now... Who's Next? Edition)    http://www.zerohedge.com/contributed/graham-summers-weekly-market-forecast-dexia-now-whos-next-edition

‘Things are getting truly desperate in Europe. I’d like to show just how bad they are by way of example: the Belgian bank Dexia, which is now in the process of being nationalized.

For starters, Dexia had 566 billion euros in debt and 19 billion euros in equity as of the end of 2010. Right off the bat, that’s a leverage ratio of 29 to 1. Lehman Brothers was leveraged at 30 to 1 when it collapsed.

Now consider that Belgium’s entire GDP is just 348 billion euros. Dexia has 566 billion euros in assets. Of this 352 billion are loans. Put another way, Dexia’s loan portfolio alone is larger than its home country’s entire economy.

AND THIS BANK PASSED THE STRESS TESTS.

Suffice to say, Europe’s banking system is in far FAR worse shape than anyone over there is admitting. The stress tests were complete and total fiction. And the market is starting to figure this out.

 

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-2_1.png

 

Small wonder then that had both the IMF and the Bank of England have recently warned that the world is facing a “financial meltdown” and “the worst financial crisis in history.”

 

Ben Bernanke issued his own statement of doom last week as well, stating that his precious recovery is “close to faltering.” For a guy who’s spent TRILLIONS trying to create a recovery to admit things aren’t working out ought to give you an idea of just how bad things will be getting in the near future.

Indeed, stocks were rejected last at a descending trendline from the July top.

We should have at least gotten a bounce to the 38.2% retracement (1,200 on the S&P 500). So if the market fails to get there and simply rolls over here, then we’re going DOWN in a big way FAST.

 

http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-1_5.png

 

Here is the reality of the financial system today: 

§  The European banking system is facing systemic collapse.

§  The US economy has rolled over and is in a confirmed double dip in the context of a larger DE-pression.

§  The Central Banks and regulators have admitted we are peering into the abyss and they have no clue what to do.

 Yes, I believe that before this mess ends, the financial system as a whole will have collapsed. What's coming is going to make 2008 look like a joke.

If you have yet to prepare yourself for what’s coming, now is the time to do so. Whether it’s by moving to cash and bullion, opening some shorts, or simply getting out of the markets altogether, now is the time to be preparing for what’s coming (remember, stocks took six months to bottom after Lehman… and that was when the Fed still had some bullets left to combat the collapse).

And if you’re looking for specific ideas to profit from this mess, mr Surviving a Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding disaster into a time of gains and profits for any investor.

Within its nine pages I explain precisely how the Second Round of the Crisis will unfold, where it will hit hardest, and the best means of profiting from it (the very investments my clients used to make triple digit returns in 2008).

Best of all, this report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.

Good Investing!

Graham Summers

PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s my proprietary Crash Indicator which has caught every crash in the last 25 years or the best most profitable strategy for individual investors looking to profit from the upcoming US Debt Default, my reports covers it.’

FINANCIAL CRISIS

"ROUND TWO" SURVIVAL GUIDE THIS BEAR MARKET IS NOWHERE NEAR OVER. Since its March 10 low of 666 in 2009, the S&P 500 rally has been almost unstoppable. Pundits and media commentators alike have taken this to mean that the bear market is over and that stocks should once again be the primary asset class for investors. None of them knows what they’re talking about. Over the last 30 years, the US has built up record debts on a personal, state, and national level. Consumers thought they were financially stable so long as they could cover the interest payments on their credit cards, states created program after program few if any of which they could afford, and the Federal Government issued $30-50 trillion in debt and liabilities (counting Social Security and Medicare). This all came to a screeching halt when the housing bubble (arguably the biggest debt bubble in history) imploded in 2007. Since that time, stocks have staged one of their worst years on record (2008), one in five us mortgages has fallen underwater (meaning the mortgage loan is worth more than the home itself), and some trillions in US household wealth has evaporated. These issues seem to be distinct, but in reality they all stem from a debt problem. And as you know, there is only one legitimate way to deal with a debt problem: Pay it off. However, instead of doing this, the Feds (the Federal Reserve, Treasury Dept, etc.) have been producing EVEN MORE DEBT. Here’s a brief recap of their moves thus far: • The Federal Reserve cuts interest rates from 5.250.25% (Sept ’07 today) • The Bear Stearns deal/ Fed buys $30 billion in junk mortgages (March ’08) • The Fed opens various lending windows to investment banks (March ’08) • The SEC proposes banning shortselling on financial stocks (July ’08) • The Treasury buys Fannie/Freddie for $400 billion (Sept ’08) • The Fed takes over AIG for $85 billion (Sept ’08) • The Fed doles out $25 billion for the auto makers (Sept ’08) • The Feds’ $700 billion Troubled Assets Relief Program (TARP) (Oct ’08)

• The Fed buys commercial paper (nonbank debt) from nonfinancials (Oct ’08) • The Fed offers $540 billion to backstop money market funds (Oct ’08) • The Feds backstops up to $280 billion of Citigroup’s liabilities (Oct ’08). • Another $40 billion to AIG (Nov ’08) • The Fed backstops up $140 billion of Bank of America’s liabilities (Jan ’09) • Obama’s $787 Billion Stimulus (Jan ’09) • The Fed’s $300 billion Quantitative Easing Program (Mar ’09) • The Fed buying $1.25 trillion in agency mortgage backed securities (Mar ’09 ’10) • The Fed buying $200 billion in agency debt (Mar ’09’10) • Cash for Clunkers I & II (JulyAugust ’09) And that’s a BRIEF recap (I’m sure I left something out). In a nutshell, The Feds have tried to combat a debt problem by ISSUING MORE DEBT. They’re pumping trillions of dollars into the financial system, trying to prop Wall Street and the stock market. They’ve managed to kick off a rally in stocks… But they HAVE NOT ADDRESSED THE FUNDAMENTAL ISSUES PLAGUING THE FINANCIAL MARKET. Stocks are headed for another Crash, possibly as bad as the one we saw in October November 2008. As you know, that Crash wiped out $11 trillion in household wealth in a matter of weeks. There’s no telling the damage this Second Round will cause. The Feds have thrown everything they’ve got (including the kitchen sink) at the financial crisis… and things are fundamentally no better than they were before: most major banks are insolvent, one in five US mortgages is underwater, and the stock market is being largely propped up by inhouse trading from a few key players (Goldman Sachs, UBS, etc). Make no mistake, we are rapidly headed for ugly times in the financial markets. The time to prepare yourself is NOW! And I’ve located several investments that will not only protect your portfolio… they’ll also help you turn a profit when this “house of cards” we call a market rally comes crashing down. I’ve detailed all of them in this report, The Financial Crisis “Round Two” Survival

Guide.

Two Ways Stocks Pay: Inflation and Dividends Before we get into the specific investment suggestions, it’s important to take a big picture of stocks as an asset class. The common consensus is that stocks return an average of 6% a year (at least going back to 1900).

However, a study by the London Business School recently revealed that when you

remove dividends, stocks’ gains drop to a mere 1.7% a year (even lower than

the return from longterm

Treasury bonds over the same period). Put another way, dividends account for 70% of the average US stock returns since 1900. When you remove dividends, stocks actually offer LESS reward and MORE risk than bonds. If you’d invested $1 in stocks in 1900, you’d have made $582 with reinvested dividends adjusted for inflation vs. a mere $6 from price appreciation. So as much as the CNBC crowd (and out serial bubble blowing Fed Chairman Ben Bernanke) would like to believe that the way to make money in stocks is buying low and selling high, the reality is that the vast majority of gains from stocks stem from dividends. The remaining gains have come largely from inflation. Bill King, Chief Market Strategist M. Ramsey King Securities recently published the following chart comparing REAL GDP (light blue), GDP when you account for inflation (dark blue), and the Dow Jones’ performance (black) over the last 30 years. What follows is a clear picture that since the mid-70s MOST of the perceived stock gains have come from inflation.

Which brings us to today. According to official data, the S&P 500 is currently trading at a Price to Earnings (P/E) ratio of 20 and yields 1.7%. In plain terms, stocks are expensive (historic average for P/E is 15) and paying little. In other words, there is little incentive, other than future inflation expectations, for owning stocks right now.

With this in mind, now is the time to be pruning your “long” holdings. We’ve had a spectacular run in stocks since the March 2009 low and the likelihood of this continuing much longer is relatively slim. Running Out of Buyers By most historic metrics, the market is showing signs of a significant top. Here are just a few key metrics: 1) Investor sentiment is back to super bullish autumn 2007 levels. 2) Insider selling to buying ratios are back to autumn 2007 levels (insiders are selling the farm). 3) Money market fund assets are at 2007 levels (indicating that investors have gone “all in” with stocks). 4) Mutual fund cash levels are at a historic low. This final point is key. Mutual funds are the “big boys” of the investment world. If they have become fully invested in the market, this means there are few buyers left to push stocks higher. This is evident in the fact that every time mutual fund cash levels dropped, stocks collapsed soon after (see chart below).

http://home.comcast.net/~RoyAshworth/Mutual_Fund_Cash_Levels/Mutual_Fund_Cash_Levels.htm

In plain terms, the odds are high that a Top is forming in stocks. With that in mind, if your portfolio is heavily invested in stocks, now is a time to be taking some profits. If you can, consider moving a sizable chunk into cash. The market is extremely tired and the systemic risks underlying the Financial Crisis are in no way resolved. With investor complacency (as measured by the VIX) back to preCrash levels, the Fed withdrawing several of its more significant market props, and low participation coming from the larger institutions, this market is ripe for a serious correction. I’m not saying this will immediately happen. But at some point there will be a new round to the Financial Crisis. When that happens, we WILL have another Crash. Indeed, it is quite possible that stocks are making a VERY significant top, so being heavily invested in stocks going forward doesn’t make much sense. Take some money off the table. If you need a place to put it, I suggest physical cash or Gold/ Silver bullion. If You MUST Stay Long, Shift to Quality If you DO have to stay invested in stocks, now is the time to be shifting out of junk into quality. The market rally from March 2009 has largely been lead by junk companies (financials, retailers, etc). Meanwhile, quality has lagged dramatically. As an example, let’s compare the performance of Coke (KO) to Bank of America (BAC). KO is one of the best, most profitable brands in the world. The competitive moat around this business is extraordinary and it remains one of the most easily recognized franchises on the planet. You can drink six glasses of Coke a day and still enjoy it the next day. That quality is almost nowhere to be found in any other food/ beverage on the planet: even chocolate would get old after six bars a day. BAC on the other hand has swallowed Countrywide Financial AND Merrill Lynch’s garbage assets. It is effectively insolvent based on its derivative exposure alone (the company has derivatives equal to 3,000% of assets). BAC’s balance sheet is like an open sewer and without serious government intervention the company would not even exist right now. And yet, BAC’s stock has risen nearly 200% since the March ‘09 lows… while KO is up less than 50%.

This relationship works to the downside as well. What I mean is that when stocks come unhinged, Quality (Coke) then outperforms Garbage (Bank of America) hands down.

So, if you HAVE to remain invested in stocks to the long side for whatever reason, now is the time to be moving into high quality companies. This means finding companies with low debt, lots of cash, strong results (KO actually GREW revenues in 2008), and significant competitive advantages. Also, and this is critical, look for companies with strong balance sheets: companies that will still EXIST if there’s another Crisis. Depression or no, people will still drink soda, alcohol, smoke cigarettes, and need medicine. I’ve compiled a list of companies you should consider if you need to remain involved in stocks going forward: Company Symbol Sector Price/ Cash

Flow

Dividend

Yield Coke KO Soft Drinks 15 3.2%

Budweiser BUD Alcohol 14 N/A J&J JNJ Medicine 10 3.02% WalMart WMT General Retail 8 2.16% Exxon Mobil XOM Oil 11 2.51% You’ll note that most of these companies pay decent dividends (compared to the S&P 500’s 1.7%). This is critical going forward. With stocks overvalued, you want to make sure you’re at least getting paid for remaining involved in the market. However, there is an added bonus to owning Quality stocks right now. Because this market rally has largely been dominated by Garbage stocks, Quality companies like Coke have not yet risen to extreme valuations. Thus, you can still buy them at relatively cheap levels (less than 15 times cash flow). So, in a sense, they are a good investment based on pricing as well. I want to stress that these investments are only if you HAVE to stay in stocks for some reason. If there is another collapse these companies will fall like everything else. However, they will likely fall less than the rest of the market (see the chart comparing Coke and the S&P 500 below).

source: Yahoo Finance So while I do not expect these positions to make a lot of money now (these are not short-term trades), they should shelter you from losing too much money should another Crash hit. Indeed, if the market DOES collapse and these companies fall 10- 15% across the board (while the market falls 30%+) I would consider these investments even MORE attractive than they are today. Let me explain. Volatility can either hurt you or be your friend. Most people would sell a position if it fell 20-30%. This is wise if you’re investing based on momentum. However, if

you’re investing based on value, then doing this is completely antithetical to attaining high returns. Consider Coke. Let’s say tomorrow Coke collapsed from $55 to $25 per share. Most investors would panic and sell. I, on the other hand, would be buying greedily. Why? Because Coke’s business has a fundamental value. Even during a Financial Crisis and Depression, people will continue to drink soda. So the opportunity to buy Coke at $25 a share (which would be 7-8 times cash flow) would be truly an extraordinary opportunity. Indeed, from an income perspective alone, the opportunity here would be fantastic. Consider that in 2009, Coke paid out $1.76 in dividends. With shares at $55, this means a dividend yield of 3.2% (roughly three times what you’d get by leaving your money in a savings account). However, if Coke shares fell to $25, that $1.76 suddenly becomes a 7% yield

($1.75/ $25.00). That’s a heck of a return from an income perspective. Even if

globally the world entered a sharp Depression and Coke’s income fell by 30%,

pulling its payouts down to $1.23, you’re still looking at a 5% yield. Indeed, companies like Coke offer the potential of REAL value should their share prices drop. Their fundamentals almost ALWAYS outperform investor sentiment. What I mean by this is that should there be another Collapse, Coke’s share price will almost certainly fall MORE from its current levels than Coke’s cash payouts or income will from theirs. During 2008, Coke shares fell 30% or so. However, Coke actually INCREASED its dividend that year. Anyone who bought Coke in October 2008, now collects a 4% yield on their shares (four times what he or she would get from a bank account). This is why companies like Coke remain so strong during times of Crisis. With the FDIC broke and most US banks insolvent, investors desperately need a place to park cash that will still EXIST in a few years. Companies like Coke are a reasonable alternative to a savings account in the sense that you’re paid a higher yield for your deposit (now 3%, but 5% or higher if Coke shares plunge). Of course, because Coke is a stock, you can lose 1015%

or more if shares drop and you sell. In a Crisis, plain old cash will outperform just about anything.

This is why I’ve suggested moving money to cash, if you can. It’s also why I

suggested buying Coke and the other companies listed above only IF you HAVE

to be in stocks right now.

Catastrophe Insurance: Trades For When the Collapse Hits

Now is also the time to be taking out some “Catastrophe Insurance” by compiling a list of trades to make once stocks begin to collapse. Let me be clear, these are not

trades that you’ll make right now… these are trades you’ll make WHEN stocks

collapse.

Personally, I favor UltraShort ETFs. If you’re unfamiliar with UltraShort ETFs, these are invetsments that return 2X the inverse of a particular ETF. Let’s take an example, the UltraShort Financials ETF (SKF). SKF returns 2X the inverse of the Financials ETF (IYF). So if IYF falls 5%, SKF rises 10%. If IYF falls 10%, SKF rises 20%. In this sense, SKF is a great “hedge” or means of playing Financial stocks to the downside. However, there’s an added bonus to UltraShort ETFs like SKF: these investments ALSO trade based on demand from the marketplace. So if stocks collapse say 30%, you might actually see gains GREATER than 60% (2X the inverse) due to investors piling in as they seek to profit from the collapse. Consider SKF’s performance in 2008, for example. In 2008, financial stocks (as measured by the Financials ETF: IYF), fell roughly 50%.

However, if you’d bought SKF once the Crisis really took hold (late September), you could have made MORE than 100% in two month’s time:

This is what makes the UltraShort ETFs so handy when a Crisis hits: because they truly skyrocket as investors stampede like elephants into safety. However, I MUST STRESS that these are not investments to “buy and hold”.

Instead, these are shortterm

trades you should make ONLY once stocks have

begun to truly collapse. Simply add them to your “on deck” trades to make

once the next Crisis hits. You’re probably asking yourself, “how can I distinguish between an ordinary

correction and a REAL Crisis?” Let’s see what history shows us. If you recall from 2008, stocks didn’t go straight down. Instead they dropped, bounced, and then began the serious collapse. Looking back at that time, the 50 DMA served as a useful metric for gauging that a serious decline was about to begin:

As you can see stocks rolled over and broke below their 50DMA in late 2007. After that, the 50DMA acted as strong resistance. Indeed, there was only one bounce above this level, which lasted roughly a month and a half. The real trouble began in the summer of 2008, and investors were given a decent warning when the S&P 500 collapsed and then bounced to test the 50DMA and failed to break it.

Similar warnings appeared before the 1987 Crash:

The Tech Bubble:

And the 2008 Crash:

Thus, this tells us that the 50DMA is a strong metric for gauging when real trouble hits stocks again. On that note, the trigger you should be looking for in terms of

when the next Crash will hit will be a decisive break BELOW the 50DMA

followed by a strong bounce that FAILS to break above it again. With that in mind, here are some trades to put “on deck” for when the next round of the Crisis hits. Trade #1: Short the Russell 2000

The Russell 2000 is perhaps the junkiest index in the US. Many of the companies that

comprise this index don’t even MAKE money and most likely should have never been

taken public in the first place. This is the “risk” index, the index of companies that are

garbage. For that reason, the Russell 2000 will collapse most when stocks truly begin

rolling over.

The below chart compares the Russell 2000’s performance against that of the Dow Jones

Industrial Average during the 2008 Crash. As you can see, the Russell dropped

significantly more:

For this reason, I suggest buying the UltraShort Russell 2000 ETF (TWM) when the

market begins its next real collapse.

The UltraShort Russell 2000 ETF (TWM) returns 2X the inverse of the Russell 2000.

So if the Russell 2000 falls 5%, TWM returns 10%. If the Russell 2000 falls 10%, TWM

returns 20%. It’s a terrific means of playing the collapse in small cap stocks.

Again, wait for stocks to enter a free fall before opening this trade.

Trade #2: Short Financials

By now you know that the current Crisis has centered on the financial sector, specifically

the banks. The Protect Your Savings report details the issues extensively. However, as

further proof, the below chart shows that US banks are about to get slammed with another

round of mortgage defaults from the residential housing sector (I’m not even going to

bother including the commercial real estate market which is a multi-billion time bomb in

of itself).

Suffice to say, Financials have a lot of issues coming their way in the future. For that

reason, when the next Round of the Crisis hits, I suggest buying the UltraShort

Financials ETF (SKF).

SKF returns 2X the inverse of the Financials ETF (IYF). So if the IYF falls 5%, SKF

returns 10%. If the IYF falls 10%, SKF returns 20%. It’s a terrific means of playing the

collapse in financials stocks.

Again, wait for stocks to enter a free fall before opening this trade.

Trade #3: Short the Retail ETF

The US consumer accounts for 70% of US GDP. Real unemployment is currently close to 17%. Food Stamp usage is around a record 38 million. Tax receipts for 2010 so far are LOWER than 2009’s levels (didn’t everyone think the entire world was ending back then?). And yet, retail stocks are back to their 2007 highs:

As you can see, retail stocks in general are up nearly 200% during the worst recession in decades. It’s simply staggering. For that reason, I suggest Shorting the

Retail ETF (XRT) when stocks start to collapse. XRT gives broad exposure to the retail sector. Its top holdings are: Company % of Assets Casey General Stores 1.9% Gamestop 1.9% Jos A Bank Clothiers 1.8% Netflix 1.8% Tractor Supply 1.7% Annetaylor Stores 1.7% Limited Brands 1.7% Childrens PI Retail Stores 1.7% Best Buy 1.6% Abercrombie and Fitch 1.6% Shorting this ETF gives you the opportunity to short retail across the board. However, if you’re more inclined to short specific companies, I’d focus on apparel and clothing retailers like Gap (GPS), Limited Brands (LTD), Nordstrom (JWN), and the like. As with the other trades, only enter these shorts when the market begins to enter a free fall.

Trade #4: Short the Emerging Markets Emerging markets have leaded the US on this latest rally: they bottomed back in November 2008, while US stocks continued to plunge until March 2009. That’s not the only “leading” emerging markets have done. While the S&P 500 is up some 60% from its March lows, China, Brazil and their kind have all more than DOUBLED from the November 2008 lows.

This relationship will reverse in the next Crisis.

During times of Crisis, the “flight to safety” involves institutional investors dumping

their foreign shares to load up on Treasuries or other perceived “safe havens.”

Consequently, emerging markets are hit hardest when the markets collapse.

For that reason, when the next collapse begins I suggest shorting emerging markets via

any number of inverse Ultrashort ETFs. The most popular ones are:

1) The UltraShort Emerging markets ETF (EEV)

2) The UltraShort China ETF (FXP)

3) The UltraShort Brazil ETF (BZQ)

All three of these return 2X the inverse of an underlying index: the MSCI Emerging

Markets ETF, the FTSE/ Xinhua 25 ETF, and the Brazil ETF, respectively. As such, they

represent a great way to pocket major gains when the emerging markets collapse along

with the rest of the financial world during the next Crisis.

As with the other trades, only enter these shorts when the market begins to enter a free fall.
CONCLUSION This concludes the our report. If you found this interesting you might want to consider delving into our other FREE reports. All of them are available for downloading. Simply click here.

Good Investing!

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 



Think Tank Says Bailout Fund Will Need $6 Trillion And France Will Lose AAA Rating Daily Bail | Where do they plan to get the money, Euro Claus?

 

We Are Still Early In This Bear Phase   http://www.bullseyemicrocaps.com/?p=10478 By Roger Nusbaum: ‘A reader left a question a couple of days ago asking my opinion on how to determine a market bottom. My thought process here will probably seem a little Hussmanesque. I tend to think of this in terms of probabilities and whether or not the market gets the benefit of the doubt at a given moment. A contributing factor here is duration. Earlier in the week I saw a stat about bear markets lasting four hundred and something days and we were only 150 days in (by some measure). The exact numbers cited don’t matter to me so much as the general understanding that bear markets last well over a year on average and we are only a few months in…’

 

Stocks Surge On New Promises From European Leaders, Dow Adds 300 Points  [ Come on! Wake up! Two desperate, failed politicians who haven’t the slightest idea what they’re doing; certainly in the areas of finance and economics. Indeed, they’ve borrowed from a page in the fraudulent wall street / defacto bankrupt american book of failure and fraud in banging ‘square pegs in round holes’ along with nation-draining fraudulent obfuscation with b***s*** alone that hearkens back to that ’Weimar dollar’ era that was precursor to and inevitably led to the inflationary / no real value collapse now underway as is already the scenario in america. How totally desperate and pathetic they are. This is cheered by the wall street types / frauds to enable them to favorably  cash out. Take your profits while you still can, protect yourself while you still can, this fraud – induced collapse is just beginning. New ‘promises’! Currency-debased high inflation rally!  What a joke they’ve become! ]

 

Bulls Prevent Bear Market This Week: Dave's Dailyat TheStreet  [Sorry Dave … this is already a secular bear market with sporadic, contrived, HFT / programmed contraindicated suckers’ bear market rallies that you yourself have previously pointed out, alluded to. Who talked to you Dave, which by the way brought you ‘back into the fold’ at least at Yahoo, etc., with your atypically inaccurate headline.] It didn’t take much Tuesday to get a short-squeeze underway. Markets were at bear market levels then until a rumor, passing as a news story from FT, got the bullish HFT algos going.

 


Train Reading: Imagine at The Wall Street JournalMark Gongloff

Steve Jobs and America’s decline — Greg Ip in the Economist

The impact of phony short-squeeze rallies — Ritholtz

Don’t mock the 99% — Megan McArdle

Did LSD help make Steve Jobs more creative? — Slate

Alex P. Keaton, an alternative history — Josh Brown

 

 

Steve Jobs and America’s decline — Greg Ip in the Economist Oct 6th 2011, G.I. | WASHINGTON [ That Steve Jobs was great for having literally saved Apple Computer from extinction, there is no question and I’ve previously eulogized him accordingly, ‘pre-death’ (my first computer was an AppleIIc in 1986). Related story: ‘Did LSD help make Steve Jobs more creative? — Slate  Yet, for every story as his, the Beatles (my favorite band all-time, along with the Classical Greats), etc., I can relate a multitude of stories of tragedy, disaster, including one of a quite brilliant lad I worked with – summer job – who expounded on the benefits of LSD expanding one’s mind {repeatedly recommending I try it – I didn’t- never did} was accepted at Columbia Law School, and while hitchhiking while high in mind-expansion-mode walked into a mack truck thereby expanding his mind (and body) all over the roadway, etc..]  ‘EARLIER this year a Federal Reserve official tried to tamp down worries about inflation by noting that, while food and petrol were getting more expensive, you could now buy an iPad that was twice as powerful for the same price as the previous model. The remark, soon lampooned as “Let them eat iPads”, predictably drew derision. But it typified a tactic to which American leaders frequently turn when they need a rejoinder to economic doomsaying: cite an Apple product.As bad as their politics has got, Americans could always comfort themselves with the knowledge that their business leaders, entrepreneurs and workers were the most dynamic and innovative in the world. But they may look back on 2011 and see three events that undermine that story: the downgrade of America’s credit rating; the last flight of the space shuttle; and Mr Jobs’s death. The first, coming as it did on the heels of a debilitating and entirely pointless fight over raising the debt ceiling, captures how American political dysfunction has undermined the economy’s institutional pillars. The latter two symbolised the waning of, respectively, American public and private technological pre-eminence.

Of course, it would be foolish to count out Apple, much less an entire economy, because of one man’s death. Yet even if Apple remains as successful as it has been under Mr Jobs, that success long ago decoupled from that of the broader economy. Written on the back of my iPod are the words, “Designed by Apple in California, Assembled in China.” It was classic Jobs: reframing an issue, the outsourcing of American manufacturing jobs, as something inspirational rather than discouraging. The low-skill assembly jobs and the middle-class lives they provided may be leaving for Asian shores, but the brainy, wealth-creating parts of the process—the design, the engineering, the marketing—were firmly rooted in Silicon Valley. Free traders (including me) loved to cite the research that finds far more of the value in an iPod is added in America than in China.

But behind this glowing story of synergy between American brains and Chinese brawn lay a more disturbing reality. American global economic leadership has, in the last decade, benefited an ever narrower slice of its people. They have become fabulously wealthy, while the vast majority of job growth has been in areas like education and health care, where productivity and wages are stagnant, a trend well documented by Michael Spence. American global business leadership used to be personified by the likes of General Motors, Caterpillar, General Electric and Eastman Kodak. As they lost market share to foreign competitors, shifted employment overseas or flirted with bankruptcy, the focus turned to technology companies like Cisco Systems, Microsoft and Hewlett Packard. Microsoft and Cisco are both fine, though in recent years they have undergone layoffs and seen their market values shrink to a fraction of their bubble-era peaks. Hewlett Packard, of course, is flailing around for a new business model, and is seeking to exit the personal-computer business altogether.

Americans' entrepreneurial self-esteem is now embodied by Apple, Google, Facebook and Amazon. These are indeed fabulously innovative companies with world-beating business models. Yet one wonders if they are increasingly the exception, not the rule, and if the passing of Mr Jobs is simply the most prominent example of a broader decline in American entrepreneurship. According to JPMorgan, in the late 1990s, employment at start-up companies regularly grew 1.2m per quarter. That has fallen to 700,000 since the current recovery began. John Haltiwanger, probably the leading economist on employment dynamics by firm size, finds similar trends.

Entrepreneurship and innovation, of course, are not the same thing. Yet even if American innovation is fundamentally sound, there remains the more unsettling problem of how narrowly its fruits are shared. If you want to know why the Senate is on the verge of passing a bill punishing China for its trade practices, look no further than this fact: Apple, Google, Facebook and Amazon collectively employ just 113,000 people, a third of GM’s payroll in 1980. Naturally, as Adam Smith pointed out long ago, the sole purpose of production is consumption, so one should not scoff at the benefits these companies create for Americans in their other role as consumers rather than workers. And in truth, technological advancement has probably done far more than trade to hollow out the middle class and widen inequality. Slapping China with punitive tariffs is more likely to trigger a trade war than restore millions of middle-class jobs.

But this is not a message that resonates with voters, or Congress. Both suspect that globalisation has done far more to benefit companies’ shareholders and their bankers than rank-and-file workers. That is the conviction of the people now occupying Wall Street, even if they lack coherent plans for dealing with it. And one can't blame them for suspecting the administration’s motives when its ambassador to China delivers a speech that so prominently takes up the cause of American credit-card companies. Of course, Visa and Mastercard are as deserving of government support in foreign markets as any metal-bending company; but they only employ 12,600 people worldwide.

It would be unfair to lay this all at the feet of American politicians: widening inequality and the decline of middle-class manufacturing jobs is a global phenomenon that vexes governments everywhere. Yet this does not excuse American governance for making matters worse. There are lots of things it could do to improve the ability of and incentives for American companies and workers to innovate and grow, whether it’s taxing fossil fuels, giving more green cards to foreign scientists and engineers or simplifying the tax code. These days, however, that seems a fantasy compared to more prosaic demands such as, don’t shut down the government, starve critical government agencies of funds or default on the national debt. If America is going to hold on to its technological mojo, it needs all the help it can get.’

> 

9 things you didn’t know about the life of Steve Jobs  ‘For all of his years in the spotlight at the helm of Apple, Steve Jobs in many ways remains an inscrutable figure — even in his death. Fiercely private, Jobs concealed most specifics about his personal life, from his curious family life to the details of his battle with pancreatic cancer — a disease that ultimately claimed him on Wednesday, at the age of 56.

While the CEO and co-founder of Apple steered most interviews away from the public fascination with his private life, there's plenty we know about Jobs the person, beyond the Mac and the iPhone. If anything, the obscure details of his interior life paint a subtler, more nuanced portrait of how one of the finest technology minds of our time grew into the dynamo that we remember him as today.

1. Early life and childhood
Jobs was born in San Francisco on February 24, 1955. He was adopted shortly after his birth and reared near Mountain View, California by a couple named Clara and Paul Jobs. His adoptive father — a term that Jobs openly objected to — was a machinist for a laser company and his mother worked as an accountant.

Later in life, Jobs discovered the identities of his estranged parents. His birth mother, Joanne Simpson, was a graduate student at the time and later a speech pathologist; his biological father, Abdulfattah John Jandali, was a Syrian Muslim who left the country at age 18 and reportedly now serves as the vice president of a Reno, Nevada casino. While Jobs reconnected with Simpson in later years, he and his biological father remained estranged.

2. College dropout
The lead mind behind the most successful company on the planet never graduated from college, in fact, he didn't even get close. After graduating from high school in Cupertino, California — a town now synonymous with 1 Infinite Loop, Apple's headquarters — Jobs enrolled in Reed College in 1972. Jobs stayed at Reed (a liberal arts university in Portland, Oregon) for only one semester, dropping out quickly due to the financial burden the private school's steep tuition placed on his parents.

In his famous 2005 commencement speech to Stanford University, Jobs said of his time at Reed: "It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5 cent deposits to buy food with, and I would walk the seven miles across town every Sunday night to get one good meal a week at the Hare Krishna temple."

3. Fibbed to his Apple co-founder about a job at Atari
Jobs is well known for his innovations in personal computing, mobile tech, and software, but he also helped create one of the best known video games of all-time. In 1975, Jobs was tapped by Atari to work on the
Pong-like game Breakout.

He was reportedly offered $750 for his development work, with the possibility of an extra $100 for each chip eliminated from the game's final design. Jobs recruited Steve Wozniak (later one of Apple's other founders) to help him with the challenge. Wozniak managed to whittle the prototype's design down so much that Atari paid out a $5,000 bonus — but Jobs kept the bonus for himself, and paid his unsuspecting friend only $375, according to Wozniak's own autobiography.

4. The wife he leaves behind
Like the rest of his family life, Jobs kept his marriage out of the public eye. Thinking back on his legacy conjures images of him commanding the stage in his trademark black turtleneck and jeans, and those solo moments are his most iconic. But at home in Palo Alto, Jobs was raising a family with his wife, Laurene, an entrepreneur who attended the University of Pennsylvania's prestigious Wharton business school and later received her MBA at Stanford, where she first met her future husband.

For all of his single-minded dedication to the company he built from the ground up, Jobs actually skipped a meeting to take Laurene on their first date: "I was in the parking lot with the key in the car, and I thought to myself, 'If this is my last night on earth, would I rather spend it at a business meeting or with this woman?' I ran across the parking lot, asked her if she'd have dinner with me. She said yes, we walked into town and we've been together ever since."

In 1991, Jobs and Powell were married in the Ahwahnee Hotel at Yosemite National Park, and the marriage was officiated by Kobin Chino, a Zen Buddhist monk.

5. His sister is a famous author
Later in his life, Jobs crossed paths with his biological sister while seeking the identity of his birth parents. His sister, Mona Simpson (born Mona Jandali), is the well-known author of
Anywhere But Here — a story about a mother and daughter that was later adapted into a film starring Natalie Portman and Susan Sarandon.

After reuniting, Jobs and Simpson developed a close relationship. Of his sister, he told a New York Times interviewer: "We're family. She's one of my best friends in the world. I call her and talk to her every couple of days.'' Anywhere But Here is dedicated to "my brother Steve."

6. Celebrity romances
In
The Second Coming of Steve Jobs, an unauthorized biography, a friend from Reed reveals that Jobs had a brief fling with folk singer Joan Baez. Baez confirmed the the two were close "briefly," though her romantic connection with Bob Dylan is much better known (Dylan was the Apple icon's favorite musician). The biography also notes that Jobs went out with actress Diane Keaton briefly.

7. His first daughter
When he was 23, Jobs and his high school girlfriend Chris Ann Brennan conceived a daughter, Lisa Brennan Jobs. She was born in 1978, just as Apple began picking up steam in the tech world. He and Brennan never married, and Jobs reportedly denied paternity for some time, going as far as stating that he was sterile in court documents. He went on to father three more children with Laurene Powell. After later mending their relationship, Jobs paid for his first daughter's education at Harvard. She graduated in 2000 and now works as a magazine writer.

8. Alternative lifestyle
In a few interviews, Jobs hinted at his early experience with the psychedelic drug LSD. Of Microsoft founder Bill Gates, Jobs said: "I wish him the best, I really do. I just think he and Microsoft are a bit narrow. He'd be a broader guy if he had dropped acid once or gone off to an ashram when he was younger."

The connection has enough weight that Albert Hofmann, the Swiss scientist who first synthesized (and took) LSD, appealed to Jobs for funding for research about the drug's therapeutic use.

In a book interview, Jobs called his experience with the drug "one of the two or three most important things I have done in my life." As Jobs himself has suggested, LSD may have contributed to the "think different" approach that still puts Apple's designs a head above the competition.

Jobs will forever be a visionary, and his personal life also reflects the forward-thinking, alternative approach that vaulted Apple to success. During a trip to India, Jobs visited a well-known ashram and returned to the U.S. as a Zen Buddhist.

Jobs was also a pescetarian who didn't consume most animal products, and didn't eat meat other than fish. A strong believer in Eastern medicine, he sought to treat his own cancer through alternative approaches and specialized diets before reluctantly seeking his first surgery for a cancerous tumor in 2004.

9. His fortune
As the CEO of the world's most valuable brand, Jobs pulled in a comically low annual salary of just $1. While the gesture isn't unheard of in the corporate world  — Google's Larry Page, Sergey Brin, and Eric Schmidt all pocketed the same 100 penny salary annually — Jobs has kept his salary at $1 since 1997, the year he became Apple's lead executive. Of his salary, Jobs joked in 2007: "I get 50 cents a year for showing up, and the other 50 cents is based on my performance."

In early 2011, Jobs owned 5.5 million shares of Apple. After his death, Apple shares were valued at $377.64 — a roughly 43-fold growth in valuation over the last 10 years that shows no signs of slowing down.

He may only have taken in a single dollar per year, but Jobs leaves behind a vast fortune. The largest chunk of that wealth is the roughly $7 billion from the sale of Pixar to Disney in 2006. In 2011, with an estimated net worth of $8.3 billion, he was the 110th richest person in the world, according to Forbes. If Jobs hadn't sold his shares upon leaving Apple in 1985 (before returning to the company in 1996), he would be the world's fifth richest individual.

While there's no word yet on plans for his estate, Jobs leaves behind three children from his marriage to Laurene Jobs (Reed, Erin, and Eve), as well as his first daughter, Lisa Brennan-Jobs.’

            -----

 

Did LSD help make Steve Jobs more creative? — Slate { I’d say ‘causation’ (cause/effect) becomes problematic here; a ‘chicken and egg’ kind of thing that in the realm of Kantian philosophy would be considered a noumenon; quite possibly even misconstrued by Jobs himself in an overly humble, somewhat self-effacing kind of way, ignoring his innate abilty, brilliance. }  [ That Steve Jobs was great for having literally saved Apple Computer from extinction, there is no question and I’ve previously eulogized him accordingly, ‘pre-death’ (my first computer was an AppleIIc in 1986). Yet, for every story as his, the Beatles (my favorite band all-time, along with the Classical Greats), etc., I can relate a multitude of stories of tragedy, disaster, including one of a quite brilliant lad I worked with – summer job – who expounded on the benefits of LSD expanding one’s mind {repeatedly recommending I try it – I didn’t- never did} was accepted at Columbia Law School, and while hitchhiking while high in mind-expansion-mode walked into a mack truck thereby expanding his mind (and body) all over the roadway, etc..] 

 

 

 

Home ownership: Biggest drop since Great Depression The percentage of Americans who owned their homes has seen its biggest decline since the Great Depression, according to the U.S. Census Bureau.

 

 

The impact of phony short-squeeze rallies — Ritholtz  http://www.ritholtz.com/blog/2011/10/the-mmpact-of-phoney-short-squeezes

Stock investors may take days to distinguish real news from noise, according to Federal Reserve Bank of New York.

http://www.ritholtz.com/blog/wp-content/uploads/2011/10/1007chart.jpg

This is especially true these days, given false announcements of bailouts, Fed interventions and rescues. They tend to cause fake short squeezes that temporarily spike markets, only to see them ultimately head lower.

To get a closer look of noise on markets, the FFRBNY studied how UAL’s stock moved in September 2008. At the time, a “six-year-old report on the company’s bankruptcy filing appeared online and was treated as a new story.”

David Wilson of Bloomberg has the details:

“UAL, which later became United Continental Holdings Inc., plunged as much as 76 percent on Sept. 8, 2008, in response to the error. While UAL’s loss narrowed to 11 percent by the close of trading, the shares fell the next two days before rebounding.

“Residual effects attributable to the false news shock” lasted for seven trading days, the researchers wrote this week in a blog posting on the New York Fed’s website. The effect is at odds with the efficient-market hypothesis, which holds that share prices reflect all publicly available data on a company.

To identify the time period, they estimated where UAL’s shares would have traded if the outdated report hadn’t surfaced. The projection was derived from the performance of the Standard & Poor’s 500 Index, the Bloomberg World Airlines Index and crude oil during the period. The posting by economists Carlos Carvalho, Nicholas Klagge and Emanuel Moench was based on a report they published in May 2009 and revised in June. Carvalho, who teaches economics at the Pontifical Catholic University of Rio de Janeiro, worked at the New York Fed when the research was originally done. His two co- authors are still there.

Given every twitch of the market over tales of EU/ECB action, German banks bailing out Italy, or anything related to Greece, it is interesting to see how traders behave relative to false announcements.’

 

IMF to Propose New Short-Term Credit Lines Oct 7th, 2011 News (The Wall Street Journal) — The International Monetary Fund is crafting a proposal to offer new short-term credit lines to governments to prevent the spread of global financial crises, senior IMF and finance officials say.The program has the tentative backing of key world financial leaders who are expected to approve the new lending tool at the coming meetings of the Group of 20 industrialized and developing economies, according to three senior officials from G-20 countries. [source] PG View: Yes! Absolutely! More credit, more debt is the answer to the global debt crisis.

 

U.S. Bank Exposure to Europe Could Be $640 Billion, Per Congressional Paper Oct 7th, 2011 News (The Wall Street Journal) — U.S. bank exposure to the European debt crisis is estimated at $640 billion, nearly 5% of total U.S. banking assets, according to recent research papers written for Congress.While U.S. Treasury Secretary Timothy Geithner says the U.S. banking sector’s vulnerability to the euro zone problems is “very limited,” the Congressional Research Service estimate is one of the first public assessments provided by the U.S. government that quantifies the potential risks.According to two different reports provided to federal lawmakers last month, the debt problems of Greece, Ireland, Portugal, Italy, and Spain constitute a ”serious risk” to the European banking system, particularly German, French, and U.K. banks, which have close ties to U.S. banks. Markets believe there’s a very high likelihood Greece will default in the coming weeks. That could cause a cascade of other crises throughout Europe…The estimate doesn’t include U.S. bank exposure to European bank portfolios that include assets in the weak member countries. Also, it doesn’t account for euro-zone assets held by money market, pension, and insurance funds.[source]PG View: Geither’s sense of reality seems to have been distorted by all the absolutely huge numbers bandied about in recent years. Does he really view $640 bln is “very limited?” The Congressional Research Service goes on to say that, “depending on the exposure of non-bank financial institutions and exposure through secondary channels, U.S. exposure to Greece and other euro-zone countries could be considerably higher.” What exactly does “considerably higher” mean? Is it twice the $640 bln? More?

 

Fitch cuts Italy, Spain ratings, outlook negative Oct 7th, 2011 News (Reuters) source]

 

Is U.S. a Third-World Nation? Oct 7th, 2011 News (The Wall Street Journal) — [ YES! ]Author Michael Lewis says the U.S. and many European nations suffered a moral failure that led to economic collapse. PG View: Supposed first world countries — including the US — hid risk, which was consequently mispriced, leading to crisis.

World facing worst financial crisis in history, Bank of England Governor says Oct 7th, 2011 News (The Telegraph) — ..This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.” [source]

Banking Delusion Brings Crisis to Europe’s Core Oct 7th, 2011 News (Bloomberg-BusinessWeek) — Once upon a time, like this summer, Dexia SA, the French-Belgian bank, was stable. By the measures global regulators deem important, its capital ratio stood at 11.4 percent of risk-weighted assets, according to data compiled by Bloomberg. That’s well above the 10 percent regulators plan to require of the world’s largest banks under new international rules.What a difference a summer makes. The Belgian and French governments now have a complicated mess on their hands. Dexia, which had received a government bailout in 2008..[source]

 

 

 

Euro Plunges On Fitch Double Tap, Comments From Merkel Fail Fitch Portugal

‘Chinabot is in full fail mode, after a sticksave attempt to save the currency following the Italian downgrade by Fitch was monkeyhammered with the Spanish downgrade which was not only two notches, but sent the country's rating to below that of S&P and Moodys. Adding fuel to the fire is an errant comment from Merkel who has said that Eurobonds are "absolutely the wrong way to go", and lastly, a last minute notification from Fitch which goes for Trifecta by saying that Portugal remains on outlook negative..

And Spain... Fitch Downgrades Spain To Aa- From Aa+, Two Notch Cut, Outlook Negative Baseline Scenario Budget Deficit default European Central Bank Fitch France Gross Domestic Product International Monetary Fund ratings recovery Unemployment Volatility

Fitch Downgrades Italy To A+, Outlook Negative Budget Deficit default European Central Bank Eurozone Fitch France Greece Gross Domestic Product International Monetary Fund Ireland Italy Portugal ratings Sovereign Risk Sovereign Risk Volatility

As Dexia Nationalization Rumors Spread, A Compression Trade May Be In Order Belgium CDS Flight to Safety France Gross Domestic Product International Monetary Fund Nationalization Reality .. Belgium itself blows up. ..

Market Snapshot: Dispersion Rising As EU Financials Underperform Precious Metals Price Action ..why are we still rallying? ..

Hedge Fund Pound-O-Rama: Full Performance Update Through Month End

Well, a month end update only for those funds who still report their P&L to HSBC. Others, such as Paulson, apparently deem it below them to post an update when they are doing less than swell, shall we say. In other news, redemptions will continue until morale improves.

"Your Alpha Is Burning" - Fighting Greek Fire with Fire: Volatility, Correlation, and Truth Bear Market Brazil Central Banks default Equity Markets Federal Reserve Recession Sovereign Debt Switzerland Volatility

From the mind that brought you the Great Vega Short comes the next masterpiece on liquidity, volatility, contagion and everything else. "Volatility is change and the world is changing. The truth is that Greece will default. The truth is that if our leaders continue to deny our problems history tells us the US will eventually default. These shocking events will hurt many people, markets will collapse, life savings will be lost, there will be violence, upheaval, and massive political change ..

PrimeX - The Time For The Next "Subprime Trade" Has Come ABX Prime Alt-A Barclays Black Swan Fitch fixed Housing Market Kyle Bass Markit Morgan Stanley Paolo Pellegrini Precious Metals ratings Real estate Reality recovery

 

Several years ago Paolo Pellegrini, Kyle Bass, Michael Burry and several other visionaries were well ahead of the conventional wisdom groupthink curve by not only sensing that the housing market was massively overvalued and riding on the crest of a huge leverage bubble .. the world is fretting about Europe, Morgan Stanley, lack of decisive political decision-making in a pseudo union of 17 different countries, lack of decisive monetary intervention, a Chinese hard landing and everything else that makes front pages these days, slowly our prediction is starting to come true. But you won't hear about it anywhere else, because if the market understands that in addition to a global solvency crisis, America has another Subprime contagion on its hands actually being expressed in the markets as we type, and potentially costing banks, pension funds and various asset managers billions in losses behind the scenes, that may well be the last straw.

 

Inventories Miss As Non-Durables Drops Most Since Sep09 Wholesale Inventories

The headline wholesale inventories number missed +0.6% expectations, rising only 0.4% (from 0.8% prior) with its lowest build since Nov 2010. Under the covers though, non-durables were the most troublesome - unless of course the spin is that a falling inventory implies future growth as inventories 'have' to be rebuilt, right? Non-durables inventories dropped 0.6% - its biggest drop since Sep 2009.

US Needs To Generate 261,200 Jobs Per Month To Return To Pre-Depression Employment By End Of Obama Second Term HIGHER UNEMPLOYMENT Unemployment

 

Rounding Error, Short Squeeze, And Cost Of Recap AIG American International Group Bad Bank Bond CDS Creditors default Double Dip Price Action Reality Verizon

The rally has been strong across many products, but once again has all the signs of a short squeeze rally. ..

Average Duration Of Unemployment Rises To New All Time High Unemployment

 

As noted previously, one key fly in the ointment in an otherwise better than expected jobs report (in which the participation rate also trended higher for a welcome change) was the manufacturing jobs data, which declined by 13,000. Perhaps at the end of the day this is the most important data point, since while declining government jobs at the end of the day is a good thing, government workers don't actually create anything of value for the economy. And as the chart below demonstrates, the long term trend is certainly not our friend. The second "fly", and the one that will certainly be used as a talking point by politicians, was the average unemployment duration. At 40.5 weeks, it just hit a new all time record.

Summarizing Wall Street's Reaction To The NFP Data Recession recovery Reuters Unemployment Verizon Yen

As usual, Reuters is the first with a compilation of Wall Street's gut reaction to the NFP data.

 

September NFP Prints At 103,000, Beats Consensus, Even As U-6 Comes At Highest Since December 2010, Manufacturing Jobs Lost

So much for the recession? September NFP prints at 103,000 on expectations of 60,000, with August revised to 57,000 from that roulette busting double zero. The unemployment rate held at 9.1 percent, as expected. From the report: "The increase in employment partially reflected the return to payrolls of about 45,000 telecommunications workers who had been on strike in August.. real unemployment, U6, printed up from 16.2% to 16.5%, the highest since December 2010.

 

Goldman Comes To Margin Stanley's "Defense" As It Is Now Actively Selling MS Calls, Buying Short Term CDS CDS

The bank that was selling Dexia shares to its clients all the way down (Goldman Cuts Dexia From Buy To Neutral On Imminent Restructuring And Winddown) and which has the uncanny ability to align its own trading desk with an event's "outcome", at the expense of clients of course, has just done it again. As of this morning it is actively selling Margin Stanley calls to whoever is still left as a client. From a just released report: "Buy calls for a likely relief rally on earnings; sell short-dated CDS as fear falls." Now... just who are these clients buying calls from and selling CDS to?’

 

 

6 Reasons a Global Recession is Unavoidable  Ron DeLegge, October 5, 2011, ‘Most economists and Wall Street types are reluctant to publicly admit the global economy is in a recession. Their reams of conflicting data are sending mixed messages. But an honest look at key events and the behavior of financial markets solidifies the view that the global recession we're probably already in, is unavoidable. Let's analyze some of the reasons behind this.

1) The Fed is out of tricks. When it comes to manipulating financial markets in the name of economic security, nobody matches the Federal Reserve's prowess. Over the past few years, the Fed has engaged in financial gimmickry of such epic proportions that angry calls for ending its existence have been voiced from sea to shining sea. The Fed's Treasury purchases (POMO) and monetization of debt (quantitative easing), may have delayed the reckoning day, but have these programs really solved America's long-term problems? The Fed's latest shift from short-term to long-term debt (Operation Twist) is tantamount to taking money from your right hand pocket and putting it into your shirt pocket. The Fed is running out of time and out of tricks. Ben Bernanke has finally admitted what the general public has known all along; the job situation is a 'national crisis.'

2) Stock market says we're already in a recession.The National Bureau of Economic Research (NBER) and its leading economists still deny the U.S. economy is in a recession. Apparently, their slide rulers haven't yet confirmed it, so they need a few more quarters before issuing a press release. Meanwhile, the stock market, which is a leading indicator of economic activity, is screaming 'recession.' Large company stocks within the S&P 500 (NYSEArca: SPY - News) have fallen almost 18% since July. Bulls argue this is still shy of the 20% threshold that confirms a bear market, but even so, mid cap stocks (NYSEArca: MDY - News) and small caps (NYSEArca: IWM - News) have already entered bear territory. Today's stock prices reflect expectations about future earnings, which in turn are connected to the future state of the economy. Expectations are rightfully low.

3) Greece has set the tone for Europe (and maybe the rest of the world).How many financial targets will Greece continue to miss before forecasters stop regurgitating its false numbers? When will Greece stop embarrassing itself with financial projections it knows aren't true? Greece's 2011 deficit was projected to be 8.5% of its GDP but came in almost 1.69 billion above its original targets. Next year, Greece is aiming for a deficit that's 6.8% of GDP. With the country engulfed in civil protests, job strikes and general chaos - how realistic are its 2012 projections? Financial bets for Greece to succeed are a long-shot. The country's economic projections are no longer based upon realistic assumptions, but hopes for garnering more bailout money and calming hostile markets. Ultimately, Greece is merely a reflection of the entire EU region - a place where financial aspirations don't match reality.

4) Bear funds are leading performers.The two-year period from March 2009 to March 2011 was a difficult existence for bear market funds. After bottoming at decade lows, the stock market skyrocketed and bear funds got clobbered.  But not anymore. Bear funds are investments that, by design, increase in value when the underlying benchmarks they track decline. Now with the stock market swooning, bear funds are posting huge gains. Over the past three months, Direxion's 3x daily leveraged bear ETFs for large cap stocks (NYSEArca: BGZ - News) is ahead by 42.97%, mid cap stocks (NYSEArca: MWN - News) is up 58.30% and small caps (NYSEArca: TZA - News) is up by 49.76%. Reversing this ominous trend, especially when key technical levels have been pierced, won't be easy.

5) Major asset classes are in correlation.During a bear market, the correlation between asset classes typically jumps and this is exactly the case right now. Over the past few months, commodities (NYSEArca: GCC - News), global real estate stocks (NYSEArca: RWO - News), precious metals (NYSEArca: GLTR - News), international stocks (NYSEArca: EFA - News), and U.S. stocks (NYSEArca: SCHB - News) have all moved in the same general direction by recording sizable losses. Even gold (NYSEArca: IAU - News) and silver (NYSEArca: SLV - News), which previously escaped the wrath of losses, have joined the party. And only cash and bonds (NYSEArca: AGG - News) are bucking the correlation trend. 

6) Pace of sovereign downgrades is accelerating.We don't advocate putting implicit faith in credit ratings, because history has taught us they are nothing more than financial opinions and frequently, not very accurate ones. Still, a gander at the latest downgrading trend is troublesome. Intuitive observers will note, this is not an isolated phenomenon, but a global trend. Sovereign debt from Greece and Portugal, after several downgrades, is now rated junk. Ireland has been downgraded and Italy was just downgraded by Moody's to A2 with a negative outlook. Japan, along with U.S. debt was lowered in August and another wave of more downgrades is coming, so get used to it. 

Conclusion

Investing in an economically stifled climate requires patience, diligence, and forethought. Following the herd mentality guarantees nothing more than mediocrity and making kneejerk financial decisions is an excellent way to lose money. ETFguide's Profit Strategy ETF Newsletter continues to advocate a fiercely independent view of world events, financial markets, and the proper allocation of money. Ultimately, having an investment strategy that can perform during any kind of market is a good start. ‘ 

 

Consumer Spending Slumps In September, Index Showsat Forbes

 

U.S. stocks' massive "melt-up" fans investor fears Reuters October 5, 2011, By Edward Krudy NEW YORK (Reuters) - In less than one hour on Tuesday, the U.S. stock market surged by 4 percent -- for no apparent reason.The last hour of trading was the most volatile final hour in two months -- and it occurred at a speed that frightens many, from experienced hedge-fund managers to mom-and-pop investors.The late-day "melt-up" that pushed the S&P 500 index (^SPX - News) out of bear-market territory might be construed as good news. But it brings back echoes of the "flash crash" that saw markets dive by several hundred points in a matter of minutes, and it's a big reason many are staying away from the market."Everyone is scared in both ways -- the shorts are scared, the longs are scared, everyone is scared. The high-net-worth investor is very, very scared," said Stephen Solaka, managing partner at Belmont Capital Group in Los Angeles, which manages money for independent wealth advisers and family offices.Tuesday's move was the latest example of an erratic, high-octane stock market increasingly driven by levered exchange traded funds and complicated hedging and options strategies that unwind with dizzying speed.It's a far cry from when the U.S. stock market was viewed as a place for capital-raising by businesses seeking to expand and a place for investors looking to put their savings to work."It tends to result in some market participants feeling like the market is uninvestable. It's not good for mutual funds or hedge funds," said Michael Marrale, head of sales trading at RBC Capital Markets in New York.The ostensible reason for Tuesday's move was an article published late in the day on the Financial Times website quoting the EU's commissioner for economic affairs, Olli Rehn, saying a plan was being worked out to recapitalize the region's troubled banking sector.But Reuters reported similar comments earlier in the day, and Rehn's comments struck some people as covering old ground. Ken Polcari, a veteran of the NYSE floor at ICAP Equities, found the reasoning insufficient."There is no clarity -- 'no formal decision' -- just more speculation, more rumors, and more innuendo," he said of the FT article.

WHAT WENT DOWN

Traders, analysts and investors interviewed by Reuters cited a number of factors, many of them technical, and linked to big positions around the 1100 level on the S&P 500…

BLAST-OFF AT 1,100

The S&P climbed steadily between 3 p.m. and 3:30 p.m., but once it broke through 1,100, the gains accelerated, as the average rose 1 percent in the span between 3:39 p.m. and 3:45 p.m.

For Joe Donohue, money manager at Dimension Trading in Red Bank, New Jersey, the speed of the reversal was a classic sign of automated algorithmic trading.

"I didn't know the move was for real until about 3:40 to 3:45, when my machine just lit up green like a Christmas tree," he said. "That's when you know there's algo buying dictating the market. It certainly wasn't individual buyers."

Donohue's response was to close out short positions and buy a triple-leveraged long exchange traded fund that magnifies the performance of the Russell 2000 (Chicago Options:^RUT - News) three times.

The Direxion Daily Small Cap Bull 3X Shares (Pacific:TNA - News), which had its busiest day of trading in history on Tuesday, rocketed nearly 20 percent into the close. That ETF, along with the Proshares Ultrashort S&P 500 ETF (Pacific:SDS - News), another leveraged ETF, are now often among the top 25 traded issues on U.S. exchanges.

"Program trading and algorithmic trading was the cause," said Donohue. "We're seeing moves in a half hour that used to take weeks. Obviously we were very oversold technically before, and essentially we had a 'melt-up' that was helped by the algo trading that just went off buying."…’

 

Moody’s Cuts Italy’s Credit RatingWall St. Cheat Sheet

 

Who Will Recapitalize the Recapitalizers? [ Gutenberg of course! Well, just indirectly, historically speaking; the printing press, that is. The ‘recapitalizer’, brought back to life in the pervasively corrupt, defacto bankrupt america; bringing home once more that historic ‘Weimar dollar’, ubiquitously now worldwide. Sounds like a plan! Straight from planning / design room for the u.s.s. Titanic! ] The Wall Street Journal  Paul Vigna “Recapitalizing” European banks (the preferred euphemism for bailout, apparently) in order to stabilize them in the face of “haircuts” on sovereign debt (the preferred euphemism for losses, obviously) through a facility like the EFSF risks a spiral that will make the bailouts more difficult to fund.Capital Economics economist John Higgins writes today that the bank recapitalization plan that has the market so excited is “unlikely to draw a line under the crisis.”A recapitalization would allow banks to withstand a bigger haircut on Greek debt. The trouble is that once Greece gets a bigger haircut, other sovereign borrowers will want one, too. That could get expensive in a hurry.The EFSF bailout fund could fill help weaker countries carry some of that burden, but that will get increasingly problematic.“The more the EFSF’s funds are used to recapitalize banks, the less it will have to provide official financing, or to intervene in the debt markets,” Mr. Higgins writes. “And the more the EFSF is expected to deploy its firepower in whatever capacity, the more investors will believe it will have to be leveraged, with the result that its own cost of borrowing could keep on rising.”



David Stockman: Blame The Fed! Sep 30th, 2011 News (ChrisMartenson.com) — ‘David Stockman, former US Representative and Director of the Office of Management and Budget under Reagan, does not mince words. He sees the monetary systems of the world coming apart.How did we get here? He identifies the root cause as the intentional over-leveraging of world economies by central planners in a misguided effort to enjoy growth without consequence…’

 

Gov't report: Fannie knew of 'robo-signing' in '03 - AP

 

After a Bad Q3, Markets Not Likely to Recover in Q4  Daryl Montgomery, October 3, 2011, ‘The third quarter of 2011 had the biggest drop and most volatility for stocks since 2009. The fourth quarter may not be much better since the cause of the problem is a new credit crisis and an emerging global recession. Both will continue to be a drag on the market.

 

Tomorrow's Tape: The Jean-Claude and Ben Show Wall Street JournalMark Gongloff  ‘ Economics:

  • 10:00 a.m. ET: August factory orders are due. Economists think they were little changed after a big gain in July. Then an asteroid hit the earth, eventually causing the extinction of the dinosaurs…’

 

Train Reading: That Explains Everythingat The Wall Street Journal 

China’s worsening credit crunch — Pragmatic Capitalism

The Occupy Wall Street protesters are winning — Josh Brown

The gap between economic data and sentiment — Abnormal Returns

Recession, restructuring and the ring fence — John Hussman

 

Marc Faber's October Outlook: Forget EU Debt Crisis, A China Meltdown Is The Real Threat http://www.bullfax.com/?q=node-marc-fabers-october-outlook-forget-eu-debt-crisis-china 10/03/2011 By Nathaniel Crawford:‘Marc Faber is out with the latest issue of his famous Gloom, Boom and Doom Report, which is always a must read for serious investors. Unlike most of the other talking heads, Faber has an excellent track record. He correctly predicted the top in the equity markets in Nov. 2007, and caught the bottom in March 2009, making his subscribers a lot of money. Here is a summary of his October 2011 report:Stocks--Yes, stocks are very oversold, but that does not mean they cannot go lower. The dreadful price action in both Copper and the Shanghai Composite points to new lows for the equity markets. After US stocks make a new low below 1100 on the S&P 500 (SPY), there could be a year-end rally followed by a more meaningful decline into 2012. Investors should use any bounce in stocks as an opportunity to reduce their equity exposure.’

 

WARNING: Corporate-Fascist Military Coup Brewing in the United States? Tony Cartalucci | Beware of pretenders supplied by the establishment to “save us” from collapsing system.


 

Prophets Of Doom: 12 Shocking Quotes From Insiders The Economic Collapse Oct 1, 2011 ‘We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping.  All across the western world, governments and major banks are rapidly becoming insolvent.  So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money.  But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day.  Right now the western world is facing a debt crisis that is absolutely unprecedented in world history.  Europe has had a tremendously difficult time just trying to keep Greece afloat, and several much larger European countries are now on the verge of a major financial crisis.  In addition, there is a growing number of very large financial institutions all over the western world that are also rapidly approaching a day of reckoning.  The global financial system is a sea or red ink, and when we get to the point where there are hundreds of ships going under how is it going to be possible to bail all of them out?  The quotes that you are about to read show that quite a few top financial and political insiders know that things cannot hold together much longer and that a horrific economic crisis is coming.  We built the global financial system on a foundation of debt, leverage and risk and now this house of cards that we have created is about to come tumbling down.

A lot of people in politics and in the financial world know what is about to happen.  Once in a while they will even be quite candid about it with the media.

As I have written about previously, Europe is on the verge of a financial collapse.  If things go really badly, things could totally fall apart in a few weeks.  But more likely it will be a few more months until the juggling act ends.

Right now, the banking system in Europe is coming apart at the seams.  Because the global financial system is so interconnected today, when major European banks start to fail it is going to have a cascading effect across the United States and Asia as well.

The financial crisis of 2008 plunged us into the deepest recession since the Great Depression.

The next financial crisis could potentially hit the world even harder.

The following are 12 shocking quotes from insiders that are warning about the horrific economic crisis that is almost here….

#1 George Soros: “Financial markets are driving the world towards another Great Depression with incalculable political consequences. The authorities, particularly in Europe, have lost control of the situation.”

#2 PIMCO CEO Mohammed El-Erian: “These are all signs of an institutional run on French banks. If it persists, the banks would have no choice but to delever their balance sheets in a very drastic and disorderly fashion. Retail depositors would get edgy and be tempted to follow trading and institutional clients through the exit doors. Europe would thus be thrown into a full-blown banking crisis that aggravates the sovereign debt trap, renders certain another economic recession, and significantly worsens the outlook for the global economy.”

#3 Attila Szalay-Berzeviczy, global head of securities services at UniCredit SpA (Italy’s largest bank): “The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece’s spirits.”

#4 Stefan Homburg, the head of Germany’s Institute for Public Finance: “The euro is nearing its ugly end. A collapse of monetary union now appears unavoidable.”

#5 EU Parliament Member Nigel Farage: “I think the worst in the financial system is yet to come, a possible cataclysm and if that happens the gold price could go (higher) to a number that we simply cannot, at this moment, even imagine.”

#6 Carl Weinberg, the chief economist at High Frequency Economics: “At this point, our base case is that Greece will default within weeks.”

#7 Goldman Sachs strategist Alan Brazil: “Solving a debt problem with more debt has not solved the underlying problem. In the US, Treasury debt growth financed the US consumer but has not had enough of an impact on job growth. Can the US continue to depreciate the world’s base currency?”

#8 International Labour Organization director general Juan Somavia recently stated that total unemployment could “increase by some 20m to a total of 40m in G20 countries” by the end of 2012.

#9 Deutsche Bank CEO Josef Ackerman: “It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels.”

#10 Alastair Newton, a strategist for Nomura Securities in London: “We believe that we are just about to enter a critical period for the eurozone and that the threat of some sort of break-up between now and year-end is greater than it has been at any time since the start of the crisis”

#11 Ann Barnhardt, head of Barnhardt Capital Management, Inc.: “It’s over. There is no coming back from this. The only thing that can happen is a total and complete collapse of EVERYTHING we now know, and humanity starts from scratch. And if you think that this collapse is going to play out without one hell of a big hot war, you are sadly, sadly mistaken.”

#12 Lakshman Achuthan of ECRI: “When I call a recession…that means that process is starting to feed on itself, which means that you can yell and scream and you can write a big check, but it’s not going to stop.”

*****

In my opinion, the epicenter of the “next wave” of the financial collapse is going to be in Europe.  But that does not mean that the United States is going to be okay.  The reality is that the United States never recovered from the last recession and there are already a lot of signs that we are getting ready to enter another major recession.  A major financial collapse in Europe would just accelerate our plunge into a new economic crisis.

If you want to read something that will really freak you out, you should check out what Dr. Philippa Malmgren is saying.  Dr. Philippa Malmgren is the President and founder of Principalis Asset Management.  She is also a former member of the Bush economic team. You can find her bio right here.

Malmgren is claiming that Germany is seriously considering bringing back the Deutschmark.  In fact, she claims that Germany is very busy printing new currency up.  In a list of things that we could see happen over the next few months, she included the following….

“The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up.”

This is quite a claim for someone to be making.  You would think that someone that used to work in the White House would not make such a claim unless it was based on something solid.

If Germany did decide to leave the euro, you would see an implosion of the euro that would be truly historic.

 

But as I have written about previously, it should not surprise anyone that theend of the euro is being talked about because the euro simply does not work.

The only way that the euro would have had a chance of working is if all of the governments using the euro would have kept debt levels very low.

Unfortunately, the financial systems of the western world are designed to push governments into high levels of debt.

The truth is that the euro was doomed from the very beginning.

Now we are approaching a day of reckoning.  We have been living in the greatest debt bubble in the history of the world, but the bubble is ending.  There are several ways that the powers that be could handle this, but all of them will lead to greater financial instability.

In the end, we will see that the debt-fueled prosperity that the western world has been enjoying for decades was just an illusion.

Debt is a very cruel master.  It will almost always bring more pain and suffering than you anticipated.

It is easy to get into debt, but it can be very difficult to get out of debt.

There is no way that the western world can unwind this debt spiral easily.

The only way that another massive economic crisis can be put off for even a little while would be for the powers that be to “kick the can down the road” a little farther by creating even more debt.

But in the end, you can never solve a debt problem with more debt.

The next several years are going to be an incredibly clear illustration of why debt is bad.

When the dominoes start to fall, we are going to witness a financial avalanche which is going to destroy the finances of millions of people.

You might want to try to get out of the way while you still can.’

 

IMF: World economy enters 'dangerous new phase'  Christopher S. Rugaber, AP Economics Writer, On Tuesday September 20, 2011, WASHINGTON (AP) – ‘The world economy has entered a "dangerous new phase," according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Europe through the end of next year.

The IMF expects the U.S. economy to grow just 1.5 percent this year and 1.8 percent in 2012. That's down from its June forecast of 2.5 percent in 2011 and 2.7 percent next year.

To achieve even that still-low level of growth, the U.S. economy would need to expand at a much faster rate in the second half of the year than its 0.7 percent annual pace in the first six months.

Most economists expect growth of between 1.5 percent and 2 percent in the final two quarters. Though an improvement, it wouldn't be enough to lower the unemployment rate. The rate has been 9 percent or higher in all but two months since the recession officially ended more than two years ago.

"The global economy has entered a dangerous new phase," said Olivier Blanchard, the IMF's chief economist. "The recovery has weakened considerably. Strong policies are needed to improve the outlook and reduce the risks."

The IMF has also lowered its outlook for the 17 countries that use the euro. It predicts 1.6 percent growth this year and 1.1 percent next year, down from its June projections of 2 percent and 1.7 percent, respectively.

The gloomier forecast for Europe is based on worries that euro nations won't be able to contain their debt crisis and keep it from destabilizing the region.

"Markets have clearly become more skeptical about the ability of many countries to stabilize their public debt," Blanchard said. "Fear of the unknown is high."

Overall, the IMF predicts global growth of 4 percent for both years. Stronger growth in China, India, Brazil and other developing countries should offset weaker output in the United States and Europe.

Financial turmoil and slow growth are feeding on each other in both the United States and Europe, IMF officials say. Europe's debt crisis is causing banks to reduce lending and hold onto cash. Sharp stock market drops in the United States over the summer have hurt consumer and business confidence and will likely reduce spending. That slows growth, which leads many investors to shift money out of stocks and into safer investments, such as Treasury bonds.

In Europe, slower growth will make it harder for stressed nations to get their debt under control.

U.S. and European policymakers must act more decisively to cut budget deficits, the IMF said.

European banks need to boost their capital buffers more quickly and beyond new minimum levels set to come into force in 2019, the IMF said.

European banks have seen their stocks slide sharply this summer on fears that their exposure to the government debt of shaky countries like Greece could result in big losses.

Having extra capital would bolster confidence in the banking sector and shield Europe's economy from the impact of jitters in financial markets.

The U.S. economy faces longer-lasting problems that go beyond high gas prices and disruptions caused by the Japan crisis, the IMF said.

Employers are adding few jobs and giving out meager pay raises. Many homeowners owe more on their mortgages than their homes are worth. Banks are keeping credit tight.

All those trends are holding back consumer spending. Unemployment is likely to average 9 percent next year, the IMF's report said, echoing a recent estimate by the Obama administration.

President Barack Obama's proposal to cut taxes and spend more on infrastructure should provide much-needed short-term stimulus, the IMF said. But it needs to be paired with a longer-term plan to reduce the deficit over, the report said. The timing of the budget cuts is key, Blanchard said.

Budget cuts "cannot be too fast or it will kill growth," Blanchard said in a statement. "It cannot be too slow or it will kill credibility."

President Obama on Monday proposed more than $3 trillion of tax increases and spending cuts over 10 years. His proposal will be considered by a congressional panel charged with finding $1.5 trillion in deficit reduction this year.

Both Obama's jobs proposal and the tax increases face stiff opposition from Republicans. They oppose any tax increases and have strongly criticized the president's plans.

The 187-member nation fund conducts economic analysis and lends money to countries in financial distress. It will hold its annual meetings with the World Bank later this week in Washington.

Associated Press Writer Gabriele Steinhauser contributed to this report from Brussels.’

 

Low Interest Rates: Perma-Expectations No More at Minyanville 

 

Wall St. Cheat Sheet: Italy Gets Axed, Netflix in Free Fall, Housing Starts Drop Wall St Cheat Sheet  September 20, 2011, ‘The Dow Jones Industrial Average   and U.S. stocks are in the green after Wall Street suddenly got more confident Greece will get aid and Ben Bernanke will be forced to add more welfare, I mean stimulus, to the economy.Standard & Poor’s  cut Italy’s credit rating  late Monday by one level to A from A+, citing weak economic growth and criticizing Rome’s response to the debt crisis. Italian Prime Minister Silvio Berlusconi responded, saying that the move was influenced by “political considerations” and media stories rather than economic reality. While more  building permits  in the U.S. were authorized in August than in July,  housing starts and completions  both declined last month

 

A Fed IOER Cut Could Backfire on Banks, Warns Pimco at The Wall Street Journal

 

Low Interest Rates: Perma-Expectations No More at Minyanville Howard Simons Sep 20, 2011 ‘Regarding interest rates, one major difference between the US and Japan is that their perma-expectations started to disappear in a rising short-term rate environment; US rates have yet to rise. All of the recent news surrounding Steve Jobs’ departure from Apple prompted me to remark, “He has a strange opportunity to read his own obituary.” For the most part, he would have to be pleased at all of the genuine praise heaped on him.

This prompted me to wonder about what I would want on my tombstone other than, “He should’ve known better.” One candidate could be, “He used the word ‘swaption’ on a popular website and got away with it.” I did; most recently in a discussion of the Federal Reserve’s credibility to keep on doing the incredible, keeping interest rates near zero through 2013 (see Is FOMC's Pledge to Keep Short-Term Interest Rates Low Until 2013 Believable?).

Forward Rates When the Future Is Now

Can the swaption conclusion be confirmed by another indicator? Yes; let’s return to a thread last updated in December 2010 (see Is This the End of the Money-Printing Era?) on the relationship between the forward rates between six and nine months and the actual three-month rate as it arrives six months later. If the gap between expectation and reality is high, it means the market has been fooled again in its expectations that low short-term interest rates must be headed in one direction, higher. The opposite has been observed in practice, too; markets can incorrectly price in expectations for low short-term rates and get whacked upside the head by reality.

Where are we today? The expectations gap, marked with roseate columns, is shrinking, although it is still at levels unprecedented until the adoption of zero interest rate policies (ZIRP) in December 2008. This is the same thing as saying forward rates are in the process of declining to levels that will be matched by actual three-month rates six months from now. If you are keeping track of these months by counting on your fingers, we see you.

http://image.minyanville.com/assets/FCK_Jan2011/Image/JimE/Simongraph1.jpg

The chart above uses weekly data. Let’s go down to daily data for the period following the end of QE1. Two dates are marked, one when the debt ceiling debate in July was taking the ominous course toward default and one just after the August FOMC meeting. Both developments put the market on course toward accepting that low rates were going to be here for awhile; the intractable federal debt can be serviced only at low levels without doing something really, really stupid like cutting out-of-control spending.

http://image.minyanville.com/assets/FCK_Jan2011/Image/JimE/Simongraph2.jpg

Where To Now?

Japan has had a much longer experience with these low rates and one attempt, between November 2005 and July 2006, to start moving away from them. One major difference between the U.S. and Japan here is that their perma-expectations started to disappear in a rising short-term rate environment; our rates have yet to rise. Still, the Japanese attempt failed as the hint of higher interest rates caused yen carry trades to start unwinding around the world. Once low interest rates become embedded in an economy, they are very hard to increase without stress.

Despite the failures of QE1 and QE2 and the impending failure of whatever they announce next, the Federal Reserve has convinced itself they are doing something right. How would “They never learned from their mistakes” look on their tombstone?’

 

 

Is This the End of the Money-Printing Era?  Howard Simons Dec 01, 2010 ‘If monetary stimulus ends and we start recognizing losses rather than trying to roll them forward, we can lay the foundation for a new era of prosperity. [Note the date and hence Simons’ wisdom! Yet, the postponement / delay has substantially impaired that ‘prosperity part’ going forward.]

  ‘Of all the negative human emotions, the feeling you have been had is one of the worst. We all have heard the adage, “Fool me once, shame on you; fool me twice, shame on me,” and if I had a nickel for every time I have heard “Won’t Get Fooled Again,” both former President Bush and I would have a lot of nickels.

Well, it is red-face time: Even though the Federal Reserve has been on a mission-from-wad since August 17, 2007, the date when they executed a premarket rate cut in the target federal funds rate, to 6.00%, and even though they had already executed QE1 and were three months away from hinting at QE2, they managed to drive short-term interest rates unexpectedly low by the end of July. This is after I wrote, Short-Term Interest Rates No Longer Unexpectedly Low in May.

Let’s update that piece in light of what I have to admit was, in technical terms, a pretty good stunt on their part. First, a review: If we take the forward rate of LIBOR between six and nine months (FR6,9); that is, the rate at which we can lock in borrowing for three months starting six months from now, we have the market’s hedgeable measure of where rates will be. I cannot emphasize strongly enough that this is not an interest rate forecast, but a rate at which two parties can do business and presumably both make a profit given this locked-in rate. This can be compared to what the actual three-month rate was six months later.

That “expectations gap” is depicted in the roseate columns below. The December 2008 and March 2009 dates when the US first went to zero interest rates and quantitative easing, respectively, are marked with orange and violet vertical lines; both the July 30 and the last datum are highlighted with bright-red columns.

http://image.minyanville.com/assets/FCK_May2009/Image/LisaCatch%20September2010/plainsight.jpg

The chart above is done at a weekly frequency and is long-term to demonstrate how unusual the last two years have been in the ability of three-month rates to trade well below the market’s expectations from six months ago. Let’s shorten the time frame and move to a daily frequency.

http://image.minyanville.com/assets/FCK_May2009/Image/LisaCatch%20September2010/plainsight2.jpg

Two points are marked in black on this chart, one in mid-July when I identified the market’s demand for lower short-term interest rates and the August 27, 2010 date of Ben Bernanke’s Jackson Hole speech promising new asset highs if he could drive money to new lows.

The market took the bait, as we all know, and rallied strongly into the actual announcement of QE2 whereupon a large number of FOMC officials and foreign poo-bahs started wandering around like the somnambulant Lady Macbeth or Alec Guinness’ Colonel Nicholson in The Bridge on the River Kwai wondering, “What have I done?”

You counterfeited the US dollar to a fare-thee-well, that’s what you have done. Didn’t you think about this beforehand?

We have seen twice in the past two years how mainlining some high-grade monetary heroin can lead to higher returns for risky assets; this should be about as surprising as learning nitroglycerin can be noisy when handled improperly. Now that we are into QE2 and our friends in the European Monetary Union are about to reprise their May stunt of backstopping Greece by backstopping Ireland -- it will take them a long time to form a circle, sing kumbaya in their various languages and have each of the 16 members of the euro rescued in turn -- we have to wonder if we are at last at the end of the line for monetary stimulus. Methinks we are.

The implications are not as dire as they may sound. If the end of the printing-press era means we do what we should have started doing in 2007 -- recognizing losses rather than trying to roll them forward -- we can lay the foundation for a new era of prosperity. It would be the right thing to do.’

 

 

 

IMF Cuts Global Growth Outlook, Warns About U.S. Deficits, Euro Banks at Forbes  ‘The International Monetary Fund dialed back its outlook for the global economy Tuesday, and now projects worldwide growth of 4% in 2011 and 2012, down from 5% in 2010.

Some slowdown was anticipated, but the IMF expected it to come from an unwind of the unprecedented stimulus efforts launched to counteract the financial crisis over the last three years.  Instead, “a barrage of economic shocks in 2011 combined with other factors for a worse than anticipated outcome.”

Chief economist Olivier Blanchard warned that “strong policies are urgently needed to improve the outlook and to reduce the risks,” and the IMF said the economy is in “a dangerous new phase” marked by weaker activity and a sharp decline in confidence.

 

Gallery: The IMF’s 2012 Growth Forecast

Tuesday’s report comes as the Federal Reserve begins a two-day meeting at which Chairman Ben Bernanke is likely to meet resistance if he pushes for further intervention along the lines of additional Treasury purchases, following an August meeting that saw three dissents from the central bank’s decision to target a 0% benchmark interest rate until mid-2013.

Meanwhile, European leaders are still trying to find a solution that will keep Greece from defaulting and keeping the debt crisis outside of core Europe. (See “Europe Needs A TARP.”)

One could be forgiven if it seems like pundits and policymakers are talking out of both sides of their mouth, urging further aid for scuffling economies while at the same time preaching that countries need to get religion on long-term debts.

Gallery: The IMF’s 2012 Growth Forecast

The IMF offered its view on the forceful actions that policymakers in developed economies should undertake:

• In the euro area, banks must be made stronger, not only to avoid deleveraging and maintain growth, but also, and more importantly, to reduce risks of vicious feedback loops between low growth, weak sovereigns, and weak banks. This requires additional capital buffers, from either private or public sources.

• The top priorities in the United States include devising a medium-term fiscal consolidation plan to put public debt on a sustainable path and to implement policies to sustain the recovery, including by easing the adjustment in the housing and labor markets. The new American Jobs Act would provide needed short-term support to the economy, but it must be flanked with a strong medium-term fiscal plan that raises revenues and contains the growth of entitlement spending.

• In Japan, the government should pursue more ambitious measures to deal with the very high level of public debt while attending to the immediate need for reconstruction and development in the areas hit by the earthquake and tsunami.

The updated forecast anticipates U.S. growth of just 1.5% in 2011 and 1.8% in 2012, with euro area growth of 1.6% this year falling to 1.1% next year. Emerging and developing economies will also grow slower than previously anticipated, but remain the workhorses of global growth, the IMF anticipates. China is expected to grow at a better than 9% clip this year and next, while Brazil is expected to maintain annual growth better than 3.5%.

Gold shot higher on the IMF’s sober growth outlook, adding $24.50 to $1,803.40 an ounce. U.S. stocks righted themselves after a choppy start, buy fell from their best levels of the day in the final hour of trade with the Dow Jones industrial average up 57 points to 11,458 and the S&P 500 2 points higher at 1,206. The Nasdaq slipped into the red, down 16 points, to 2,597.

Gallery: The IMF’s 2012 Growth Forecast

Financial stocks, a major drag on the market seemingly every time there is a negative headline out of Europe, sank as the broader market pulled back. Bank of America, JPMorgan Chase and Morgan Stanley surrendered earlier gains, while Wells Fargo and American Express held onto gains better than 1.75%.

http://blogs-images.forbes.com/steveschaefer/files/2011/09/IMF-Growth-Outlook.jpg  

 

 

Morning Snapshot  Sep 20th, 2011 08:32 by News (USAGOLD) — ‘..The IMF slashed both global and US growth expectations this morning: The IMF now believes the global economy will grow just 4% this year and next, a negative revision from their June estimates of 4.3% for 2011 and 4.5% next year. IMF cut its US growth forecasts to 1.5% for this year, versus 2.5% previously and 1.8% for 2012, versus 2.7% previously. The IMF’s confirmation of growth risks intensifies expectations that the Fed will be forced to offer additional accommodations when the 2-day FOMC meeting concludes tomorrow.

• US housing starts -5.0% to 571k pace in Aug, well below market expectations of 593k, vs negative revised 601k in Jul.
• Canada leading indicator flat in Aug, above market expectations of -0.1%, vs +0.1% in Jul.
• Canada wholesale trade +0.8% in Jul, just above expectations, vs flat in Jun.
• Switzerland trade balance CHF0.8 bln in Aug, vs 2.825 bln in Jul.
• Sweden GDP – Final (sa) revised down to 0.9% in Q2, just below market expectations, vs 1.0% previously.
• Italy industrial orders (sa) +1.8% m/m in Jul, vs 4.1% in Jun; 6.5% y/y.
• Germany PPI -0.3% m/m in Aug, below market expectations of 0.2%, vs 0.7% in Jul; 5.5% y/y.
• Germany ZEW economic sentiment falls to -43.3 in Sep, below market expectations, vs -37.6 in Jul; Current situation drops to 43.6 from 53.5.
• Japan leading index (revised) 2.6 m/m in Jul, vs 2.7 previously.’

 

 

Eurozone debt crisis threatens banks, rest of world: IMF Economic Times | The eurozone’s debt mountain poses a threat to the world economy.


 

 

America’s debt woe is worse than Greece’s Sep 21st, 2011 News (CNN) — Our government is utterly broke. There are signs everywhere one looks. Social Security can no longer afford to send us our annual benefit statements. The House can no longer afford its congressional pages. The Pentagon can no longer afford the pension and health care benefits of retired service members. NASA is no longer planning a manned mission to Mars. We’re broke for a reason. We’ve spent six decades accumulating a huge official debt (U.S. Treasury bills and bonds) and vastly larger unofficial debts to pay for Social Security, Medicare, and Medicaid benefits to today’s and tomorrow’s 100 million-plus retirees. The government’s total indebtedness — its fiscal gap — now stands at $211 trillion, by my arithmetic. [source]


$16 muffins, $8 coffee served in Justice audit

 

Holders of Sovereign Debt Sep 21st, 2011 News by Global Macro Monitor (CreditWritedowns.com) — Here’s a great chart just released by the International Monetary Fund. Note that almost half — 47 percent – of the US$14.7 trillion U.S. federal government debt is held by the Federal Reserve and the government itself, such as the Social Security trust fund. Add to that the 22 percent foreign official holdings (mainly central banks) and almost 70 percent of the debt of the U.S. government is held by non-market/non-profit oriented investors. Stunning! [source]
http://www.albertpeia.com/holders-of-sovereign-debt.jpg
PG View: I would argue that “non-market/non-profit oriented investors” own the vast majority of government debt, because the risk/reward ratios have been so grossly distorted by government and central bank interventions that real investors have no interest is such assets. And it sure looks like official efforts to continue mispricing risk are going to continue.

 

PIIGS Lifeline Rallies Stocks -- For Now Quentin Fottrell  { Greecy italy, ‘shitty italy’, says Bersusconi! How ‘bout a new name … ‘ShItaly’ [ just first page of google search ‘berlusconi, shitty italy’  About 231,000 results (0.15 seconds) ]: Berlusconi vows to leave 'shitty' Italy in conversation recorded by ...www.guardian.co.uk/world/2011/.../berlusconi-vows-leave-shitty-italy...

 

U.S. Household Worth Declines by $149 Billion Sep 16th, 2011 14:32 by News (Bloomberg) — ‘ Household wealth in the U.S. dropped in the second quarter for the first time in a year, hurt by falling share prices and declining home values.Net worth for households and non-profit groups decreased by $149 billion, a 1 percent drop at an annual pace, to $58.5 trillion, the Federal Reserve said today in its flow of funds report from Washington. It rose at a 7.4 percent rate in the previous three months. Housing wealth decreased for a fourth consecutive quarter from April to June. [source]

US taxpayers could be on hook for Europe bailout Sep 16th, 2011 13:01 by News (MSNBC) — The U.S. is coming to Europe’s financial rescue.So far, America’s role is fairly limited. But if the crisis continues to grow and the U.S. takes on a wider role, U.S. consumers and taxpayers could feel a bigger impact. The biggest exposure could come from America’s status as the single largest source of money for the International Monetary Fund.The latest round of American financial assistance came Thursday with a promise by the Federal Reserve to swap as many dollars for euros as European bankers need. In the short run, those transactions won’t have much impact because the central banks are simply swapping currencies of equal value. If the move helps avert a wider crisis, it could help spare the global economy from another recession.But over the long term, consumers could feel the impact of central bankers flooding the financial system with cash, according to John Ryding, chief economist at RDQ Economics.[source]

A Band-Aid for a cancer patient Sep 16th, 2011 12:48 by News (papermoneycollapse.com) — This was another hectic week for financial markets, and nerves were calmed somewhat over the past 24 hours with another liquidity injection from the central banks – this time the provision of dollars from the U.S. Fed channelled through a few other central banks, most importantly the ECB. This is certainly not a solution but again the doctoring of symptoms. Pumping ever more fiat money into the system to avoid – or rather postpone – a much needed recalibration will not solve the underlying malaise. Four years into the crisis the banks still need emergency funding. That is a damning indictment that financial structures are far from sustainable.…A default of Greece now appears very likely. This is a positive development. Positive as it points toward shrinkage – toward smaller debt, toward a smaller Greek state, toward an important lesson for banks: Don’t think that lending to the state is without risk!…The biggest risk to the euro is not a Greek default but the markets waking up to the bleak long-term outlook for the solvency of the core, Germany and France.…Thus, we will get some liquidation (Greek debt) but also some re-liquefying (big banks). It will not be the end of the euro – but not the end of the financial crisis either.[source]

PG View: I concur with this assessment. The contingency plan to protect the German banks is presumably in place. Liquidity lines have been established. Payment of the next bailout tranche for Greece has been forestalled until October. Seems like Greece is about to get pitched under the bus…

Consumer Hope for Future Hits Lowest Level Since 1980 Sep 16th, 2011 10:52 by News (CNBC). [source]

China to ‘liquidate’ US Treasuries, not dollars Sep 16th, 2011 10:21 by News By Ambrose Evans-Pritchard (The Telegraph) — The debt markets have been warned.A key rate setter-for China’s central bank let slip – or was it a slip? – that Beijing aims to run down its portfolio of US debt as soon as safely possible.“The incremental parts of our of our foreign reserve holdings should be invested in physical assets,” said Li Daokui at the World Economic Forum in the very rainy city of Dalian – former Port Arthur from Russian colonial days.“We would like to buy stakes in Boeing, Intel, and Apple, and maybe we should invest in these types of companies in a proactive way.”“Once the US Treasury market stabilizes we can liquidate more of our holdings of Treasuries,” he said.[source]

PG View: Out of US Treasuries and into more “physical assets.” Physical assets like gold perhaps?

Europe Ministers Rule Out Stimulus, Offer No Bank Aid Sep 16th, 2011 09:49 by News (Bloomberg) — ..

PG View: Basically, another meeting with no substantive moves to alter the course that Europe is on. There will be no fiscal stimulus. We’re going to defer any decision on Greece until next month, when the country will be once again on the precipice of default.



 

The Fed’s shadow TARP News by Sen. Jim DeMint August 31 (Politico) — ‘In the run-up to the financial crisis, the Federal Reserve fueled the housing bubble with its easy money policy. Now, we know that after the crisis struck, the Fed secretly propped up elite bankers all the way from Wall Street to Brussels to the Central Bank of Libya.A Bloomberg news investigation found that while the Treasury Department was pumping $700 billion into banks under the Troubled Asset Relief Program, the Fed was covertly operating its own bailout program – the biggest in American history. The Fed’s Shadow TARP issued $1.2 trillion in loans to domestic and foreign banks from 2007 to 2010, far more than Congress authorized Treasury to spend under TARP.…Congress eventually approved a partial audit that showed the Fed extended an incredible $16 trillion – more than the entire U.S. economy – in aggregate lending authority to foreign and domestic banks from the end of 2007 to the middle of 2010…After the second round of quantitative easing was announced, Chinese Vice Finance Minister Zhu Guangyao said America “does not recognize, as a country that issues one of the world’s major reserve currencies, its obligation to stabilize capital markets.”German Finance Minister Wolfgang Schaeuble was more blunt, calling the Fed “clueless.” [source]’

Global Recession Likely, Depression Possible: Economist  Aug 31st, 2011 by News (CNBC) — ‘Global recession in 2012 is “65 to 75 percent certain” and could deteriorate into a lengthy depression, Roger Nightingale, economist and strategist at RDN Associates, told CNBC.The peak rate of growth for the world’s economy occurred more than 12 months ago and “it carries on going down,” Nightingale said. “We are probably going into negative territory around spring of next year; it is not for certain, but that is the most likely scenario. I would say the recession is 65 percent, 75 percent certain.”The economist warned that should recession kick in, the global economy might be too weak to generate any GDP growth for years, or even decades.’

Morning Snapshot News August 31 (USAGOLD) — ‘Gold is modestly lower this morning, but still generally well bid amid rising expectations that the Fed is preparing to ease once again. The St. Louis Fed’s Bullard was hinted in the Japanese press that the Fed may indeed embark on QE3, depending on upcoming data. Bullard added a caveat, saying that it should be confirmed that inflation has eased first. These comments come on the heals of very dovish Fedspeak by Chicago Fed’s Evans on Tuesday.

Today’s weaker that expected ADP employment index may further temper expectations for Friday’s August nonfarm payrolls report. Consensus is running around +93k, following the +117k print for Jul. The unemployment rate is expected to remain unchanged at 9.1%.

• US ADP employment index rose 91k in Aug, below market expectations of 100k, vs negative revised 109k in Jul.
• Canada Q2 GDP -0.4%, below market expectations of +0.1%, vs +3.6% in Q1. GDP +0.2% in Jun, vs -0.3% in May.
• UK GfK consumer confidence fell to -31 in Aug, above market expectations of -33, vs -30 in Jul.
• Italy CPI – EU Harmonized (prelim) rose to 2.2% y/y in Aug; +0.3% m/m.
• Italy PPI rose to 4.7% y/y in Jul, vs 4.3% in Jun; +0.3% m/m.
• German retail sales unch m/m in Jul, better than market expectations of -2.0%, vs big downward revision to 4.5% in Jun; -1.6% y/y.
• German unemployment rate unchanged at 7.0% (sa) in Aug, in-line with expectations.
• Eurozone unemployment rate unchanged in Jul at 10.0%, above market expectations, vs upward revised 10.0% in Jun.
• South Korea industrial production +3.8% y/y in Jul, vs 6.5% in Jun.
• Japan industrial production (prelim) +0.6% m/m (sa) in Jul, well below market expectations, vs 3.8% in Jun.
• Japan Markit/JMMA PMI falls to 51.9 in Aug, vs 52.1 in Jul.
• Japan construction orders +5.7% y/y in Jul, vs +6.0% in Jun.

 

 

25 Signs That The Financial World Is About To Hit The Big Red Panic Button The Economic Collapse | Most of the worst financial panics in history have happened in the fall.  Wednesday, August 31, 2011

Most of the worst financial panics in history have happened in the fall.  Just recall what happened in 1929, 1987 and 2008.  Well, September 2011 is about to begin and there are all kinds of signs that the financial world is about to hit the big red panic button.  Wave after wave of bad economic news has come out of the United States recently, and Europe is embroiled in an absolutely unprecedented debt crisis.  At this point there is a very real possibility that the euro may not even survive.  So what is causing all of this?  Well, over the last couple of decades a gigantic debt bubble has fueled a tremendous amount of “fake prosperity” in the western world.  But for a debt bubble to keep going, the total amount of debt has to keep expanding at an ever increasing pace.  Unfortunately for the global economy, sources of credit are starting to dry up.  That is why you hear terms like “credit crisis” and “credit crunch” thrown around so much these days.  Without enough credit to feed the monster, the debt bubble is going to burst.  At this point, virtually the entire global economy runs on credit, so when this debt bubble bursts things could get really, really messy.

Nations and financial institutions would never get into debt trouble if they could always borrow as much money as they wanted at extremely low interest rates.  But what has happened is that lending sources are balking at continuing to lend cheap money to nations and financial institutions that are already up to their eyeballs in debt.

For example, the yield on 2 year Greek bonds is now over 40 percent.  Investors don’t trust the Greek government and they are demanding a huge return in order to lend them more money.

Throughout the financial world right now there is a lot of fear.  Lending conditions have gotten very tight.  Financial institutions are not eager to lend money to each other or to anyone else.  This “credit crunch” is going to slow down the economy.  Just remember what happened back in 2008.  When easy credit stops flowing, the dominoes can start falling very quickly.

 

Sadly, this is a cycle that can feed into itself.  When credit is tight, the economy slows down and more businesses fail.  That causes financial institutions to want to tighten up things even more in order to avoid the “bad credit risks”.  Less economic activity means less tax revenue for governments.  Less tax revenue means larger budget deficits and increased borrowing by governments.    But when government debt gets really high that can cause huge economic problems like we are witnessing in Greece right now.  The cycle of tighter credit and a slowing economy can go on and on and on.

I spend a lot of time talking about problems with the U.S. economy, but the truth is that the rest of the world is dealing with massive problems as well right now.  As bad as things are in the U.S., the reality is that Europe looks like it may be “ground zero” for the next great financial crisis.

At this point the EU essentially has three choices.  It can choose much deeper economic integration (which would mean a huge loss of sovereignty), it can choose to keep the status quo going for as long as possible by providing the PIIGS with gigantic bailouts, or it can choose to end of the euro and return to individual national currencies.

Any of those choices would be very messy.  At this point there is not much political will for much deeper economic integration, so the last two alternatives appear increasingly likely.

In any event, global financial markets are paralyzed by fear right now.  Nobody knows what is going to happen next, but many now fear that whatever does come next will not be good.

The following are 25 signs that the financial world is about to hit the big red panic button….

#1 According to a new study just released by Merrill Lynch, the U.S. economy has an 80% chance of going into another recession.

#2 Will Bank of America be the next Lehman Brothers?  Shares of Bank of America have fallen more than 40% over the past couple of months.  Even though Warren Buffet recently stepped in with 5 billion dollars, the reality is that the problems for Bank of America are far from over.  In fact, one analyst is projecting that Bank of America is going to need to raise 40 or 50 billion dollars in new capital.

#3 European bank stocks have gotten absolutely hammered in recent weeks.

#4 So far, major international banks have announced layoffs of more than 60,000 workers, and more layoff announcements are expected this fall.  A recent article in the New York Times detailed some of the carnage….

A new wave of layoffs is emblematic of this shift as nearly every major bank undertakes a cost-cutting initiative, some with names like Project Compass. UBS has announced 3,500 layoffs, 5 percent of its staff, and Citigroup is quietly cutting dozens of traders. Bank of America could cut as many as 10,000 jobs, or 3.5 percent of its work force. ABN Amro, Barclays, Bank of New York Mellon, Credit Suisse, Goldman Sachs, HSBC, Lloyds, State Street and Wells Fargo have in recent months all announced plans to cut jobs — tens of thousands all told.

#5 Credit markets are really drying up.  Do you remember what happened in 2008 when that happened?  Many are now warning that we are getting very close to a repeat of that.

#6 The Conference Board has announced that the U.S. Consumer Confidence Index fell from 59.2 in July to 44.5 in August.  That is the lowest reading that we have seen since the last recession ended.

#7 The University of Michigan Consumer Sentiment Index has fallen by almost 20 points over the last three months.  This index is now the lowest it has beenin 30 years.

#8 The Philadelphia Fed’s latest survey of regional manufacturing activity was absolutely nightmarish….

The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a slightly positive reading of 3.2 in July to -30.7 in August. The index is now at its lowest level since March 2009

#9 According to Bloomberg, since World War II almost every time that the year over year change in real GDP has fallen below 2% the U.S. economy has fallen into a recession….

Since 1948, every time the four-quarter change has fallen below 2 percent, the economy has entered a recession. It’s hard to argue against an indicator with such a long history of accuracy.

#10 Economic sentiment is falling in Europe as well.  The following is from a recent Reuters article….

A monthly European Commission survey showed economic sentiment in the 17 countries using the euro, a good indication of future economic activity, fell to 98.3 in August from a revised 103 in July with optimism declining in all sectors.

#11 The yield on 2 year Greek bonds is now an astronomical 42.47%.

#12 As I wrote about recently, the European Central Bank has stepped into the marketplace and is buying up huge amounts of sovereign debt from troubled nations such as Greece, Portugal, Spain and Italy.  As a result, the ECB is alsomassively overleveraged at this point.

#13 Most of the major banks in Europe are also leveraged to the hilt and have tremendous exposure to European sovereign debt.

#14 Political wrangling in Europe is threatening to unravel the Greek bailout package.  In a recent article, Satyajit Das described what has been going on behind the scenes in the EU….

The sticking point is a demand for collateral for the second bailout package. Finland demanded and got Euro 500 million in cash as security against their Euro 1,400 million share of the second bailout package. Hearing of the ill-advised side deal between Greece and Finland, Austria, the Netherlands and Slovakia also are now demanding collateral, arguing that their banks were less exposed to Greece than their counterparts in Germany and France entitling them to special treatment. At least, one German parliamentarian has also asked the logical question, why Germany is not receiving similar collateral.

#15 German Chancellor Angela Merkel is trying to hold the Greek bailout deal together, but a wave of anti-bailout “hysteria” is sweeping Germany, and nowaccording to Ambrose Evans-Pritchard it looks like Merkel may not have enough votes to approve the latest bailout package….

German media reported that the latest tally of votes in the Bundestag shows that 23 members from Mrs Merkel’s own coalition plan to vote against the package, including twelve of the 44 members of Bavaria’s Social Christians (CSU). This may force the Chancellor to rely on opposition votes, risking a government collapse.

#16 Polish finance minister Jacek Rostowski is warning that the status quo in Europe will lead to “collapse“.  According to Rostowski, if the EU does not choose the path of much deeper economic integration the eurozone simply is not going to survive much longer….

“The choice is: much deeper macroeconomic integration in the eurozone or its collapse. There is no third way.”

#17 German voters are against the introduction of “Eurobonds” by about a 5 to 1 margin, so deeper economic integration in Europe does not look real promising at this point.

#18 If something goes wrong with the Greek bailout, Greece is financially doomed.  Just consider the following excerpt from a recent article by Puru Saxena….

In Greece, government debt now represents almost 160% of GDP and the average yield on Greek debt is around 15%. Thus, if Greece’s debt is rolled over without restructuring, its interest costs alone will amount to approximately 24% of GDP. In other words, if debt pardoning does not occur, nearly a quarter of Greece’s economic output will be gobbled up by interest repayments!

#19 The global banking system has a total of 2 trillion dollars of exposure to Greek, Irish, Portuguese, Spanish and Italian debt.  Considering how much the global banking system is leveraged, this amount of exposure could end up wiping out a lot of major financial institutions.

#20 The head of the IMF, Christine Largarde, recently warned that European banks are in need of “urgent recapitalization“.

#21 Once the European crisis unravels, things could move very rapidly downhill.  In a recent article, John Mauldin put it this way….

It is only a matter of time until Europe has a true crisis, which will happen faster – BANG! – than any of us can now imagine. Think Lehman on steroids. The U.S. gave Europe our subprime woes. Europe gets to repay the favor with an even more severe banking crisis that, given that the U.S. is at best at stall speed, will tip us into a long and serious recession. Stay tuned.

#22 The U.S. housing market is still a complete and total mess.  According to a recently released report, U.S. home prices fell 5.9% in the second quarter compared to a year earlier.  That was the biggest decline that we have seen since 2009.  But even with lower prices very few people are buying.  According to the National Association of Realtors, sales of previously owned homesdropped 3.5 percent during July.  That was the third decline in the last four months.  Sales of previously owned homes are even lagging behind last year’s pathetic pace.

#23 According to John Lohman, the decline in U.S. economic data over the past three months has been absolutely unprecedented.

#24 Morgan Stanley now says that the U.S. and Europe are “hovering dangerously close to a recession” and that there is a good chance we could enter one at some point in the next 6 to 12 months.

#25 Minneapolis Fed President Narayana Kocherlakota says that he is so alarmed about the state of the economy that he may drop his opposition to more monetary easing.  Could more quantitative easing by the Federal Reserve soon be on the way? …’

 

 

 

If We Punished Executives the Way China Does, We Wouldn't Have Any Left Minyanville Justin Rohrlich [ I think we should consider this approach, starting with the frauds on wall street, which of course in the sense of ‘all roads lead to’, will unearth other criminals deserving of such treatment since their corruption has had ‘life/death’ effects on the general populace through no fault of their own!] ‘Here in the United States, we've certainly gotten far more than we ever bargained for when it comes to corruption in the collective C-suite.

A few have been punished. Many have not. In China, though, they kill their Dennis Kozlowskis.

Yesterday, Li Hua, former chairman and general manager of the Sichuan division of China Mobile (CHL), was sentenced to death for accepting more than $2.5 million in bribes.

The Intermediate People’s Court in the southwestern city of Panzhihua handed down the verdict with a two-year reprieve, meaning if Li behaves himself, he could skate with a mere slap on the wrist -- life in prison.

The New York Times points out that the "same type of sentence was handed down last month for one of the company’s other former executives, Zhang Chunjiang, who once served as vice chairman of China Mobile,” which also included “the confiscation of his personal assets and the removal of his political rights.”

He was convicted of accepting more than $1.15 million in bribes while working at a series of state-run telecom companies from 1994 to 2009. At least six other executives from China Mobile are under investigation in corruption cases. (It may be worth noting that last week, China Mobile revealed that it “met several times with Steve Jobs to talk about Apple (AAPL) making an iPhone that would support its proprietary 3G standard." Currently, China Unicom (CHU) is the only carrier in China offering the device. )

When Chen Tonghai, former chairman of Sinopec (SNP), was sentenced to death for bribery in 2009, he was also granted a two-year reprieve after confessing to his crimes. According to state-run news service Xinhua, the court cut Chen a break of sorts, stating that for "crimes involving 'extremely large sums of money,' the suspects should be sentenced to death, but 'if they confess or contribute to the handling of relevant cases, they should not get an immediate death penalty in principle.'"

"Chen Tonghai's sentence is a result of people's court's criminal policies and reflects both severe punishment of corruption and the policy of tempering justice with mercy," Xinhua said.

But, Chinese justice lacks a particularly even hand. State-run news service Xinhua explains why certain executions are performed more hastily than others:

Corrupt officials, such as former vice-chairman of the Standing Committee of the National People's Congress Cheng Kejie who was executed in September 2000, former vice governor of Anhui Province Wang Huaizhong who was given a lethal injection in February 2004, and former food and drug administration head Zheng Xiaoyu, executed in July 2007, got immediate death sentences because they "refused to plead guilty" and their bribe-taking "caused extremely serious social impact.”


This spring, China revised the law, when authorities deemed 13 non-violent economic offenses to no longer be executable crimes, though Amnesty International called it "legal housekeeping," as the infractions were “all… seldom if ever punished by execution” to begin with.

Andrew Yang of the Laogai Research Foundation -- established in 1992 by Harry Wu, a democracy activist and survivor of the laogai, China’s system of forced-labor prison camps -- provided us with a translation of the official list (which just so happens not to include bribery):

  • Smuggling of antiques or cultural relics
  • Smuggling of precious metals
  • Smuggling of rare animals or products
  • Smuggling of ordinary goods or objects
  • Fraudulent activities with financial bills
  • Fraudulent activities involving letters of credit
  • Forged value-added tax invoices
  • False issuance of value-added tax invoices
  • The teaching of criminal methods
  • Theft of ancient human remains or fossils of vertebrates

And finally, simple “theft.”

However, the Chinese leadership doesn’t rely solely on the legal system to control the business community at large.

From Russell Lee Moses, writing for the Wall Street Journal’s China Real Time Report:

After weeks of taking jabs to the chin from an angry microblogging public, leading forces in the [Chinese Communist] Party have decided to punch back. Politburo member Liu Qi visited the Beijing offices of Sina.com’s (SINA) popular microblogging service Weibo earlier this week and impressed upon the staff there the need for “the Internet’s healthy development”—code words for staying away from topics which attack the rule of the Communist Party or hold officials up for public ridicule.

[…]

Liu’s strong-arm visit follows a series of admonitions in the Party media, warning journalists to get back into the government fold and to play the role of conveying to a skeptical society that cadres care.
The hardline view, expressed in a recent article posted in the “People’s Forum” run by the official People’s Daily, is that microblogging is best confronted, not by embracing it as a way for the public to supervise the Party, but by the Party’s “use [of] the mass media to tell the truth.”


By all accounts, corruption is so thoroughly ingrained in the operating culture of Chinese officialdom, the roles in this situation seem to be comically reversed.

“There is really no way to control the corruption among Chinese officials,” Yang told me in a telephone interview. “If bribery was not punishable by death, corrupt officials would be even bolder in grabbing the public’s wealth. And without a free press, the behavior of officials cannot be monitored, so corruption simply runs wild.”

James H. Zimmerman, Jr., Amnesty International's Country Specialist for China, says the execution of government officials for bribery “is fairly common.”

In an email message, Zimmerman pointed out that “most have been politically isolated, so they have no one coming to their defense.”

The majority of China’s citizenry certainly isn’t.

As explained by Teng Biao of China’s Economic Observer (and translated by Worldcrunch.com), “China is the global leader for the number of corrupt officials who are sentenced to death, and actually executed each year. But, judging by the seemingly endless ‘public demand’ for this kind of punishment and the surging popular anger, it would seem that there is actually not enough of it.”

And Joshua Rosenzweig, former senior researcher at the Di Hua Foundation, a human rights organization based in San Francisco and Hong Kong, told the Washington Post that “there still is a very strong sense that corrupt officials must die among the Chinese population at large. The revulsion for that offense is so strong that there would be a potential political cost to eliminating the death penalty for corruption."

Not altogether surprisingly, the specter of death doesn’t necessarily act as a deterrent.

In 2009, a six-year old schoolgirl in southern China was asked by a television reporter what she wanted to become when she grew up.

"When I grow up I want to be an official," she replied.

"What kind of official?" asked the interviewer.

"A corrupt official because corrupt officials have a lot of things," she said.’

 

 

 

BofA Warns Upcoming “Desperate Measures” By Authorities Will Result In Another 2008 Market Collapse Zero Hedge |

 

 

New national debt data: $4.247 Trillion in 945 days L.A. Times


Home sales approach worst point in half a century Bloomberg


Bloomberg reveals massive corruption in the private Federal Reserve Madison Ruppert


In Baltimore, homes for $10,000 — and less Baltimore Sun | Housing prices continue to fall through much of the region.

Social Security disability on verge of insolvency

 

 

 

MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows at Barrons.com Murray Coleman ‘Stocks continue to slump today, reeling from a raft of ugly data and growing concerns about European sovereign debt. But how far lower can ETFs tracking key benchmarks slide? MKM Partners’ technical analyst Katie Stockton sees a range around $110 a share for the SPDR S&P 500 ETF (SPY) as the next level of support. That would represent about a 3-4% drop from current levels. SPY most recently was trading down 4.6% at $114.09 a share. “I do expect that level ($110) to be re-tested in coming weeks,” Stockton said in an interview, noting that level had been tested early last week and held. The problem is that her indicators show that blue chip U.S. stocks still could have a ways to go. “The market doesn’t appear oversold at this point, so the market looks like it could go lower,” Stockton said. Perhaps the most important level for SPY is the February 2010 low of $105 a share, roughly 8% below current levels. “That level hasn’t been broken on a decisive basis yet,” Stockton noted. “That’s the number we’re really keeping a close eye on after what’s taken place today.” Meanwhile, the tech-heavy Nasdaq’s near-term backdrop looks just as volatile, notes Michael Ashbaugh in his Technical Trader investment letter. With Thursday’s downturn, the benchmark has knifed straight through initial support at 2,493 placing it back within August-crash territory. In the near-term, the veteran technician expects to see modest support at around 2,357 — its August closing low. That’s around 0.6% from where the index’s trading at now.’

 

 

 

Stocks Plunge, Gold Surges on Global Concern Aug 18th, 2011 14:30 by News (Bloomberg) — ‘Stocks plunged while Treasuries rallied, pushing yields to record lows, amid growing signs the economy is slowing and speculation that European banks lack sufficient capital. Gold climbed to a record, while oil led commodities lower. The Standard & Poor’s 500 Index tumbled 4.5 percent to 1,140.74 at 4 p.m. in New York. The Stoxx Europe 600 Index lost 4.8 percent in its worst plunge since March 2009 and Germany’s DAX Index slid 5.8 percent, the most since 2008. Ten-year Treasury yields fell as much as 19 basis points to 1.97 percent as rates on similar-maturity Canadian and British debt also reached all-time lows. The dollar gained versus 15 of 16 major peers, strengthening 0.6 percent to $1.4336 per euro. Gold futures rallied as much as 2.1 percent to $1,832 an ounce, while oil slid 5.9 percent.’ European Shares Fall Most Since March 2009 Aug 18th, 2011 12:01 by News (CNBC) — ‘European equities suffered their biggest daily fall in two and a half years on Thursday, as a slew of data cast further doubt on the strength of the recovery in the world’s biggest economy. German shares lost most, with traders citing the effects of a short-selling ban on financial stocks in other parts of Europe and intensifying worries about politicians’ lack of a plan to address the euro zone sovereign debt crisis. The European banking sector, exposed to the euro zone debt crisis, fell 6.6 percent and is down 29.7 percent this year.’

 

 

 

 

Jobless Claims, Inflation Rise More Than Expected CNBC | New U.S. claims for unemployment benefits rose more than expected last week.  Chavez Nationalizes Venezuela’s Gold Industry, Recalls Hundreds of Tons of Gold Held Abroad, May Cause a Scramble for Physical Gold From JP Morgan and Others    SEC destroyed crucial probe data: senator AFP | The SEC may have destroyed documents related to possible violations by major banks and hedge funds.  World stock markets plunge as fears of recession intensify guardian.co.uk   Don’t Swallow the FED’s $16 Trillion Suicide Pill Michael McKay | The Federal Reserve secretly kept the Phony-Fiat-Money-System afloat by “lending” out $16 Trillion.   GALLUP: Americans satisfied with ‘the way things are going’ — 11%! Gallup | Americans’ satisfaction with the way things are going in the United States has fallen back to 11%.

 

 

 

Stocks: Mutual Fund Investors Hate Them the Most Since Oct. 2008 at The Wall Street Journal 

Rick Perry on Ben Bernanke: Fed Chairman's Money Printing Policies Are "Almost Treasonous"at Minyanville 
The Loss of Momentum in the Markets All Too Apparent Now Bob Chapman

 

 

 

Venezuela Plans to Move Reserve Funds Aug 17th, 2011 10:35 by News August 17 (The Wall Street Journal) —‘ Venezuela plans to transfer billions of dollars in cash reserves from abroad to banks in Russia, China and Brazil and tons of gold from European banks to its central bank vaults, according to documents reviewed Tuesday by The Wall Street Journal.The planned moves would include transferring $6.3 billion in cash reserves, most of which Venezuela now keeps in banks such as the Bank for International Settlements in Basel, Switzerland, and Barclays Bank in London to unnamed Russian, Chinese and Brazilian banks, one document said.Venezuela also plans to move 211 tons of gold it keeps abroad and values at $11 billion to the vaults of the Venezuelan Central Bank in Caracas where the government keeps its remaining 154 tons of bullion, the document says. PG View: There have been plenty of reasons to question President Chávez’s sanity in recent years, but seeking to lessen Venezuela’s dependence on the dollar and removing assets, particularly their gold, from Western banks is actually pretty prudent. It will be interesting to see how forthcoming those Western banks will be in facilitating the repatriation of Venezuela’s gold.’ Chavez Plans on Nationalizing Gold Industry Fox Business | “I have here the laws allowing the state to exploit gold and all related activities.”

 

 

Putin sets sights on Eurasian economic union Financial Times | Twenty years after the Soviet Union collapsed, Vladimir Putin, the Russian prime minister, may not, as is sometimes alleged, be trying to recreate it.

 

Putting The Cart On Top Of The Horse, Or Why Heaping Fiscal “Stimulus” Upon “Stimulus” Is Suicide For America Zero Hedge | Feeding the government monster is, contrary to what Krugman and other Keynesians will tell you, in the current regime of coincident monetary irrigation, an exercise in futility.

 

 

 

Merkel/Sarkozy press conference: No chance of eurobond anytime soon. No expansion of ESFS. Move toward common governance.  Financial  transaction tax. Aug 16th, 2011 10:37 by News EUR rallied then retreated. Germany adds to eurozone’s woes Aug 16th, 2011 10:13 by News August 16 (Financial Times) — German economic growth slowed to a near standstill in the second quarter of this year, dealing a further, unexpected blow to the crisis-hit eurozone.The surprisingly-sharp deceleration in activity in Europe’s largest economy hit overall eurozone growth and intensified fears about the global slowdown. It also threatened to complicate the challenge facing the region’s policymakers as they seek to combat its escalating debt crisis.

 

 

Stocks Slip On Concern Over Europe's Debt, U.S. Data

Dell braces investors for a bumpy road 16 Aug 2011 Dell makes a case on why it can better weather an upcoming storm with more higher margin businesses...

S&P says sell Google's shares after Motorola deal

Ron Paul on Texas Straight Talk: U.S. Government Debt Is Becoming Worthless

 

 

 

 

How Low Will Stocks Go? at Minyanville  By MoneyShow.com Aug 12, 2011  Up 500 points one day, down 500 the next. That’s the way the market is these days.

On Wednesday, the Dow Jones Industrial Average plummeted 520 points, erasing all of Tuesday’s gains from the Federal Reserve’s decision to keep short-term interest rates near zero. As of noon Thursday, it’s up about 250.

By Wednesday’s close, the Dow had lost 2,000 points, or more than 15% of its value, since July 21. The S&P 500 and Nasdaq Composite indexes lost slightly more during that time. All three are perilously close to the 20% decline from the late April-early May top that many pundits (particularly in the media) use as a rule of thumb to determine a bear market.

Unfortunately, I think stocks have still lower to go. How low? Later in this column I’ll tell you what some respected technical analysts think.

But let’s start with the fundamentals.

First, the economy. Need I say more? Jobless figures were somewhat better in June, but economists have revised downward their estimates of GDP growth. Measures of consumer confidence are pretty weak.

And did anybody get the real message the Federal Open Market Committee put out Tuesday? The economy is so sick, the Fed is willing to guarantee exceptionally low rates for two years! I’ve never seen the Fed telegraph its moves so far in advance, and the FOMC’s statement said over and over again how lousy the economy is.

Meanwhile, the open rebellion by three voting FOMC members makes it highly unlikely we’re going to see another round of quantitative easing anywhere near as big as the last two.

Third, there’s the debt crisis. Everyone agrees the European Union just doesn’t have the money to bail out Italy and Spain, its third and fourth largest economies, if it comes to that. Rumors are swirling about the health of French banks and the safety of France’s AAA rating.

And the debt-ceiling standoff here, which culminated in S&P downgrading the US’s AAA credit rating, means more government action to “fix” the economy is likely off the table.

So there’s no way President Obama will get much additional stimulus. He’s desperately trying to extend unemployment benefits and the payroll tax holiday for another year, but that looks pretty iffy at best. (You can read more from me about the "end of the welfare state" on The Independent Agenda.)

Finally, there are earnings, which have been great. But we’re getting much later in the cycle, and their momentum appears to be slowing. It’s hard for me to see how earnings growth alone is going to power the market much higher when everything else appears to be going in the opposite direction.

And while valuations are looking attractive by some measures, they don’t exist in a vacuum, either.

So, where does that leave us? Four prominent technical analysts I contacted all agreed: Stocks are heading lower, likely into a new bear market.

David Sneddon, head of technical analysis research at Credit Suisse in London, said the 1,370.58 intraday high in the S&P we saw on May 2 was the likely top. There’s critical technical support around 1,100, which is just about from where the market bounced back this week. So far, we seem to be holding that.

The next level of technical support below that is at 1,020-1,022. “You’d have to get below [1,000-1,010] to have a genuine bear market.”

Another London-based technician, Sandy Jadeja of City Index, who watches the Dow, thinks that’s where we’re going.

A few weeks ago, he predicted the Dow would drop to 10,428, which it did. Now, he told me by e-mail, “the rally that follows will be brief, and then lead to another leg down to 9,673 and further.”

“Lows are not to be expected until 2012,” he concluded. “Next month is critical. If we break the low of August in September, there is worse to come.”

 

Mark Arbeter, chief technical analyst of Standard & Poor’s, said back in May and June that the bull market was probably over, as I reported in this column. He hasn’t changed his position.

By e-mail, he said he “would look for some stabilization and a potential short-term rally now that the S&P 500 has fallen into a major zone of chart support…between 1,023 and 1,128.”

Ultimately he thinks the S&P could fall to 1,020, or maybe as low as 935. That would be 15% below Wednesday’s close, and would definitely mark a new bear market.

Michael Kahn, who writes the Getting Technical column for Barrons.com and the QuickTakes Pro blog, has long argued we’re in a secular (long-term) bear market, and he thinks the cyclical bull is over, too. Like Arbeter, he sees 1,010 to 1,050 as the next level of support for the S&P, and below that 930.

“I think it stops at 930 to make the 2000s-2010s follow the 1970s very closely,” he wrote me by e-mail. That’s one decade for which investors have little nostalgia.

The technicians are unanimous that stocks are going lower, though some are looking for a strong rally that goes against the bearish trend. Arbeter doesn’t expect that rally to go much beyond 1,250-1,260 before it sells off again. Sneddon doesn’t think it’ll bounce much higher than 1,200.

“We’ve clearly seen a lot of technical damage done in a lot of markets,” he told me. “I would be personally [inclined] rather to lighten up and reduce my positions” on rallies.

That would be my position, too, if I hadn’t already taken profits and sold what I wanted to a couple of months ago.

If you missed that chance, I wouldn’t sell in panic now, but would wait for stocks to mount a rebound to sell off positions in riskier small-cap stocks (which already may be in a bear market) and emerging markets, whose time in the sun has come and gone. That also may be a good time to permanently reduce your exposure to equities.

But I certainly wouldn’t buy into a market like this with all its wicked swings and uncertainties. Even mighty Goldman Sachs (GS) lost money on 15 trading days in the second quarter! And John Paulson, the hedge-fund genius who masterminded “the greatest trade ever” by shorting subprime mortgages, has lost 31% so far this year in his largest fund.

If people like that who have the best information and technology are losing money in this market, do you really think you’re going to beat them at their own game?

There will be a time to buy again, but it’s not now. This market is heading lower.’


Editor's Note: This article was written by Howard R. Gold, editor at large for MoneyShow.com. 

 

 

 

Five Reasons for the Stock Market Crash and Zero Interest Rate 11 Aug 2011  Read more: Five Reasons for the Stock Market Crash and Zero Interest Rate    http://www.moneynews.com/StreetTalk/Stock-Market-Interest-Rate/2011/08/11/id/406976  ‘It’s said that the stock market climbs a “wall of worry.” Because the stock market is trying to predict the future success or failures of various companies, it sometimes gets things wrong. Horribly, terribly wrong.

With the Dow Jones Industrial Average falling like a rock, with wild swings not seen since the stock market crash of 2008, many investors are on the verge of panic. It’s easy to see why. The Federal Reserve is committed to keeping interest rates near zero until mid-2013 at the earliest. Those low interest rates penalize investors on a fixed income who don’t want the risk of the stock market.

Publisher’s Note: In an exclusive interview presentation, Aftershock 2012, Robert Wiedemer outlines a dire financial warning along with a comprehensive blueprint for economic survival. Over one million Americans have seen the evidence and learned how to weather the stock market, secure interest rates, and save their financial future. Watch the video now.

But investors who understand the reasons behind the latest decline in the stock market have little to fear. Below are five reasons why the stock market is crashing right now:

1) Current Debt Crisis in Europe and the United States

Between record high bond rates in Greece, Spain, Portugal and Ireland, the eurozone has its hands full in dealing with too much debt relative to the size of its various economies. As a result of the poor bond performance from these countries, Europe is on the cusp of plunging into a banking crisis. Such a crisis could send interest rates soaring for “prime” countries like France and Germany, not to mention throw the continent into a recession.

Across the Atlantic, the United States isn’t faring much better. The recent debt ceiling drama concluded at the 11th hour, with very little in the way of true cuts. Instead, the government has promised to cut future growth, which may or may not even occur. No wonder S&P downgraded U.S. debt!

Ultimately, it isn’t risky assets like stocks that cause economic problems. Markets sell off when seemingly safe assets are suddenly recognized as significantly riskier than they were once perceived.

2) United States Government Is at an Impasse

As part of the recent debt ceiling deal, Congress approved the creation of a bipartisan super-committee comprised of 12 members to fast-track legislation. The constitutionality of such a committee is dubious at best, but it’s just one way for Washington lawmakers to pass off responsibility and avoid tough decisions.

It doesn’t end there. The Federal Reserve has tried two rounds of “quantitative easing,” a scheme to buy up excess debt. The rationale was that it would get the U.S. economy back on track. Instead, this plan juiced the returns of the stock market, and sent gas prices and grocery costs soaring.

Meanwhile, Congressional Republicans are calling for the ouster of Treasury Secretary Tim Geithner as a consequence of the U.S. losing its S&P AAA credit rating.

In other words, it’s business as usual for the government: trying to fix a crisis that’s largely the result of its own poor oversight, while avoiding any responsibility for causing the problem in the first place.

3) U.S. Unemployment Is Running Over 15%!

As long as the U.S. economy isn’t creating enough new jobs, it will stagnate. Although the unemployment rate has declined from the double-digit rates it hit in 2009/2010, many astute individuals have noted that the latest unemployment report is inaccurate.

Using the measurement for unemployment used by the government up until the early 1980s, true unemployment is running over 15%!

Meanwhile, many thrown out of work have exhausted their unemployment benefits, which in some cases lasted as long as 99 weeks. Once off unemployment, they officially disappear from the official unemployed list, making the job market appear better than expected.

Adding millions of jobs would be the best economic stimulus possible. It would allow millions to loosen their belts and spend more, which would be a huge boon across the entire economy.

Publisher’s Note: Author and esteemed economist Bob Wiedemer accurately predicted these events more than four years ago. Over one million Americans have seen the evidence and learned how to weather the stock market, secure interest rates, and save their financial future. Watch the video now.

4) United States Has No Economic Growth

Historically, the Federal Reserve has cut interest rates to increase economic growth. That’s because lower interest rates make it easier for individuals to borrow money to buy cars, houses, start small businesses and the like. However, there’s been nearly no growth since the United States plunged into a recession in 2008. And the Federal Reserve can’t cut rates any lower.

There’s no doubt in the minds of many market participants that more Fed easing policies are on the way, especially after America’s first-quarter GDP was revised from 1.9% to 0.4%.

The stock market’s moves are highly dependent on economic growth. If an individual company can post huge growth numbers, its shares tend to go up, and its shares tend to decline when growth stalls. When a country’s GDP is stagnant, investors don’t know what to expect. Hence the recent stock market plunge, as economic data may suggest that another recession is upon us.

5) No Housing Recovery

The stock market crash of 2011 is starting to resemble the stock market crash of 2008 in one key way: Bank stocks are leading the decline. Since the start of August, banks deemed “too big to fail” like Citigroup and Bank of America have sold off twice as hard as the overall stock market.

It’s easy to see why. Banks are sitting on millions of properties listed on their balance sheets at pre-housing crash prices. If all these properties hit the market at once, prices would have to fall substantially. If the banks have to sell them at a loss, they’ll take a hit to their balance sheet at a time when they’re still trying to improve it.

A housing recovery can spur job growth for construction jobs, real estate agents, and businesses in new communities. But we currently have a housing glut that will take several years to work through.

Until then, without a housing recovery, it’ll be tough for the overall economy to recover. That means the stock market is in for a wild ride and low interest rates are here to stay.

While these five reasons aren’t a comprehensive list of the problems weighing down the stock market and keeping interest rates paltry, they should give most investors a reason to stay cautious over the next few months.

Based on the market’s action and recent economic data, it’s more likely than not we’re entering a double-dip recession. Stay heavy on safe investments and don’t give into the fear.


Read more: Five Reasons for the Stock Market Crash and Zero Interest Rate
Important: Can you afford to Retire? Shocking Poll Results …’

 

Stocks Overbought Already?at The Wall Street Journal

 

Are US Markets Facing the Abyss? [ Short answer: Worse! ] at Minyanville   Jeffrey Cooper Aug 15, 2011 ‘

“As soon as the idea of the Deluge had subsided, a hare stopped in the clover and swaying flowerbells, and said a prayer to the rainbow, through the spider’s web.

Oh, the precious stones that began to hide, and the flowers that already looked around.

In the dirty main street, stalls were set up and boats were hauled toward the sea, high tiered as in old prints.

Blood flowed at Blue Beard’s -- though slaughterhouses, in circuses, where the windows were blanched by God’s seal. Blood and milk flowed.

Beavers built. “Mazagrans” smoked in the little bars.

In the big glass house, still dripping, children in mourning looked at the marvelous pictures.

A door banged; and in the village square the little boy waved his arms, understood by weather vanes and cocks on steeples everywhere, in the bursting shower.

Madame installed a piano in the Alps. Mass and first communions were celebrated at the hundred thousand altars of the cathedral.

Caravans set out. And Hotel Splendid was built in the chaos of ice and the polar night.

Ever after the moon heard jackals howling across the deserts of thyme, and eclogues in wooden shoes growling in the orchard. Then in the violet and budding forest, Eucharis told me it was spring.

Gush, pond -- foam, roll on the bridge and over the woods -- black palls and organs, lightning and thunder, rise and roll -- waters and sorrows rise and launch the Floods again.

For since they have been dissipated -- oh, the precious stones being buried and the opened flowers -- it’s unbearable. And the Queen, the Witch who lights her fire in the earthen pot will never tell us what she knows, and what we do not know.”

--Apres Le Deluge, Arthur Rimbaud

"Yeah, keep your eyes on the road, your hands upon the wheel...
Let it roll, baby, roll.
"
-Roadhouse Blues (The Doors)

Somebody hit her with a chair, you know. I guess there’s no way to determine who did it. It’s already coagulating. She was just an innocent bystander. It’s a democracy.
-Jim Morrison

There are things known and there are things unknown, and in between are the doors of perception.
-Aldous Huxley

That men do not learn very much from the lessons of history is the most important of all the lessons that History has to teach.
-Aldous Huxley

Ye shall know the truth, and the truth shall make you mad.
-Aldous Huxley

The market went mad last week. The truth of capitalism was in chaos, democracy in disarray, and paralyzed politics hit home. The truth hurts.

“And the Queen, the Witch who lights her fire in the earthen pot will never tell us what she knows, and what we do not know.”

Seemingly in unison, market participants' heads hit their pillows Friday night with a thousand points of night running like shards of broken confidence through their minds.

The consumer confidence number hit the lowest level in a generation as the retail therapy of conspicuous consumption threatens to hit the wall.

Anesthetized with lies and sedated with stimulus, is the consumer shopped out and about to send a wake-up call to Mr. Economy?

At the end of World War II, no power existed which could compete with the US militarily or economically.

The US had saved the world from the scourge of dictatorship.

In return, the Bretton-Woods Agreement in the Summer of 1944 also gave us the monetary power to print the world’s currency. We promised it would always be convertible into gold at the rate of $35 per ounce. This proviso was between the world’s central banks and ours. It remained true until August 15, 1971 when President Nixon voided the agreement because French President de Gaulle was about to make a run on our gold, which he knew wasn’t sufficient to back up all of the currency then floating around in the world’s central banks. De Gaulle was about to precipitate a kind of run on the bank.

Son of a gun.

Is this a harmonic of the rumors that Dominique Strauss-Kahn -- former head of the IMF who was about to run for the French presidency -- was set up in a hotel in New York because he was about to reveal something about the gold that is or is not in Fort Knox?

Ever since the Bretton Woods Agreement was broken 40 years ago today, the dollar has been wandering in a sort of financial Biblical desert, characterized by the last decade of bubbles and busts.

The monthly S&P shows 3 persistent advances: a 5-year run into March 2000, a 4-year run into July 2007, and a 2-year run in May 2011.

The March 2000 top saw a break and a return rally/test failure into late August 2000. The July 2007 top saw a break and a return rally that made a marginal new high test failure in October 2007. Both of these tests failures of the high came roughly 90 days/degrees later.

In 2011 an initial peak played out on February 18th. A test failure played out with a marginal new high roughly 90 days/degrees later.

In “How Mid-September 2008 Ties To The July 2010 Low And Today” from late June, I walked through the setup for a waterfall decline.

The March ’03 low was 788 which is where the big advance to 2007 began. 2 x 788 gives the price of the S&P all-time high in 2007.

From the March 6, 2009 low to the May 2, 2011 high is 787 days.

Time was ‘up’ this May, but the S&P didn’t roll over until the anniversary of the July ’07 high.

From August 1971 to August 2011 is 480 months. On the Square of 9 Wheel, 480 is square 90 degrees of August 24th.

August 24th is opposite this year's February 18th peak.

The end of the month also ties to the pre-crash high in 1987, the pre-crash high in 1929, and the return rally high in 2000.

The end of August vibrates off major crashes in history.

In addition, early September ties to the 120-month anniversary of 9/11 and the 1000 point DJIA bungee following that crash.

Will an ABC retracement rally following our recent crash be able to satisfy my projection early last week of a 1000 DJIA rally?

Will the end of the month/early September mark a retracement high or a new low?{PAGE_BREA}Surprisingly, after violating the Bretton Woods agreement, the world kept on functioning as though the US dollar was still as good as gold. The only limit on our power to print money was the world’s willingness to continue tolerating our enormous abuse of this power. In effect, it gave us the power to soak up the savings of others around the world in order for us to consume. It was a giddy time.

It was a giddy-up time for politicians intent on spending to buy votes and the incestuous target they created for lobbyists.

Americans then had a free ride in financial matters to take the labor of others and use them to their benefit. We no longer had to produce. We could just let others do the producing and all that we needed to do was print more money and pay them off.

That illusion is ebbing.

Technically, the market looks like it is creeping higher to finish off an ABC upward correction from 1190 to 1225, which should see the market quickly fall to lower lows. The mid-point of equilibrium between the 666 low and the 1371 high equates to 1018. A decline to 1018 could be a test of the 1011 low in July 2010.

1190 is the mid-point from the July 2010 low to the May 2011 high.

1225 ties to last year's double tops.

A full backtest of the big neckline ties to 1250ish.

This week the market will tie to the chance for an Upside Follow Through Day -- a day with a substantial gain on substantial volume at least 4 days after a low.

This week is also options expiration, so a possible C wave corrective rally could theoretically see the market hold up into the end of the week.

However, without a big momentum day to hook the shorts, the market will drift before another leg down targeting 1040ish to 940ish.

We have been looking for a blow out low near mid-August based primarily on the cycle from 1951.

The closing lows for two sessions near 1121 aligns with mid-August on the Square of 9 Wheel. Only above 1260 does the market suggest something else other than a new bear leg is playing out.

We don’t want to short if a washout has occurred like in August 2007. As we asked in a report last week, is this a blow-out low or a mid-point for a move lower?

At the same time it’s tricky to go long here between 1190 and 1225: the vast majority of technicals indicate a new bear leg. While many stocks are improving they have not repaired the damage.

A lot of comparisons have been made between the current cascade in stocks and 2008. Memory is short on Wall Street, but not that short. It is possible that money managers and robots alike sold first and will ask questions later so as not to be mangled in a another train wreck.

But this is not like 2008 in the sense that the Crash in the Fall of 2008 was a second leg down.

Modern markets haven’t seen a drop off a peak or pivot high from late July like we just witnessed. It was worse that last year’s Flash Crash in May 2010. It is worse than the initial sell-off in late 2008.

Even on Black Monday in 1987, stocks were decimated in virtually one day and it was over. This one has been a Roller Coaster Crash.

While the market has echoed the Flying Elvis Pattern that installed a low from mid-July 2010, it remains extremely risky as the sharpness and steepness of the selloff leaves it/left it primed for a reflex rally.

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/15/ARCX_SPY_D%20--%20SPDR%20S&P%20500%20TRUST.gif

At the same time, as offered in a chart in this space in late July, the set up for a waterfall crash like 1929 was in place and that pattern may not have played out completely.

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/15/DJIA%201929%20Daily.gif%20final.jpg

http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/15/ARCX_GLD_D%20--%20SPDR%20GOLD%20SHARES.gif    

 

Rickards – US will revalue gold to $7000  Aug 15th, 2011 15:10 by News  August 15 (King World News) — ‘ He (Nixon) said first of all I am imposing national price controls because there was an inflation problem in the United States at the time. The second thing he said was I am putting a 10% surtax of imports on all imported goods coming into the United States. Then about 10 minutes into the speech, very much en passant, he said, ‘Oh by the way we are suspending the convertibility of dollars into gold’ and he immediately went into this Nixonian rant about speculators. So it was very interesting, there were three earth-shaking announcements. Can you imagine any one of those three things going on today? President Obama or any President saying he was going to impose nationwide price controls, or all Chinese goods would have a 10% surcharge. It would be cataclysmic, yet Nixon did both of those things. Plus (Nixon) took us off the gold standard, so it was quite a dramatic speech. In a strange way he did us all a favor by making sure we (the US) held on to the gold. So I do think the United States is in a position to revalue the currency using gold to that $7,000 level. That will obviously be a huge benefit to all of the people who invested in gold because they are going to be along for the ride, along with the United States when that gold goes to $7,000.” Excerpted from an interview that is available here.



Fed Pledge Let's You Know The Fix Is In  Forbes  Peter Schiff ‘ Last week’s wild actions on Wall Street should serve as a stark reminder that few investors have any clue as to what is really going on beneath the surface of America’s troubled economy. It did bring startling clarity on at least one front. In its August policy statement the Federal Reserve took the highly unusual step of putting a specific time frame for the continuation of its near zero interest rate policy.

Moving past the previously uncertain pronouncements that they would “keep interest rates low for an extended period,” the Fed now tells us that rates will not budge from rock bottom for at least two years. Although the markets rallied on the news (at least for a few minutes) in reality the policy will inflict untold harm on the U.S. economy. The move was so dangerous and misguided that three members of the Fed’s Open Market Committee actually voted against it. This level of dissent within the Fed hasn’t been seen for years.

Many economists have short-sightedly concluded that ultra low interest rates are a sure fire way to spur economic growth. The easier and cheaper it is to borrow, they argue, the more likely business and consumers are to spend. And because spending spurs growth, in their calculation, low rates are always good. But, as is typical, they have it backwards.

I believe that ultra-low interest rates are among the biggest impediments currently preventing genuine economic growth in the US economy. By committing to keep them near zero for the next two years, the Fed has actually lengthened the time Americans will now have to wait before a real recovery begins. Low rates are the root cause of the misallocation of resources that define the modern American economy. As a direct result, Americans borrow, consume, and speculate too much, while we save, produce, and invest too little.

It may come as a shock to some, but just like everything else in a free market, interest rate levels are best determined by the freely interacting forces of supply and demand. In the case of interest rates, the determinative factors should be the supply of savings available to lend and the demand for money by people and business who want to borrow. Many of the beneficial elements of market determined rates are explained in my book How an Economy Grows and Why it Crashes. But allowing the government to determine interest rates as a matter of policy creates a number of distortions.

It was bad enough that the Fed held rates far too low, but at least a fig leaf of uncertainty kept the most brazen speculators in partial paralysis. But by specifically telegraphing policy, the Fed has now given cover to the most parasitic elements of the financial sector to undertake transactions that offer no economic benefit to the nation. Specifically, it will simply encourage banks to borrow money at zero percent from the Fed, and then use significant leverage to buy low yielding treasuries at 2 to 4 percent. The result is a banker’s dream: guaranteed low risk profit. In other words it will encourage banks to lend to the government, which already borrows too much, and not lend to private borrowers, whose activity could actually benefit the economy.

This reckless policy, designed to facilitate government spending and appease Wall Street financiers, will continue to starve Main Street of the capital it needs to make real productivity-enhancing investments. American investment capital will continue to flow abroad, denying local business the means to expand and hire. It also destroys interest rates paid to holders of bank savings deposits which traditionally had been a financial pillar of retirees. In addition, such an inflationary policy drives real wages lower, robbing Americans of their purchasing power. The consequence is a dollar in free-fall, dragging down with it the standard of living of average Americans.

Until interest rates are allowed to rise to appropriate levels, more resources will be misallocated, additional jobs will be lost, government spending and deficits will continue to grow, the dollar will keep falling, consumer prices will keep rising, and the government will keep blaming our problems on external factors beyond its control. As the old adage goes, “insanity is doing the same thing over and over again and expecting different results.” 

Peter Schiff is CEO of Euro Pacific Capital.

Related Posts:

 

 

 

Train Reading: The Stock Market Is Insane The Wall Street Journal

‘The stock market has lost its mind — Bethany McLean in Slate

Are US banks turning Japanese? — FT Alphaville

How’s that austerity working out for you, UK? — Econbrowser

Can Jeremy Grantham profit from ecological mayhem? — NY Times Magazine

Authors and critics reveal which lit classics they consider overrated — Slate

It’s not so easy applying Moneyball principles to soccer — WSJ 

 

 

THE STOCK MARKET HAS LOST ITS MIND — Bethany McLean in Slate Risk On! Do the Fed, computer trading, and a few hedge funds rule the market? That might explain why it's lost its mind. After the madness of last week and the rollercoaster at the beginning of this week, the stock market recovered from its Aug. 10 rout to bounce 423 points on Aug. 11. It was the fourth day in a row in which the index moved by more than 400 points, which has never happened before in history. As I write this, stock prices are leveling off, but the big swings may not be over. Has the market gone mad? Actually, yes.

In theory, the stock market is supposed to reflect the prospects for the economy—the earnings potential of the stocks that make up the Dow Jones Industrial Average. But there's more than one reason to believe that what's going on now has little to do with any rational view of the future, and a lot to do with the market itself. "Dip your toes into any risk asset right now and understand that you are not entering into anything remotely resembling a normal market environment," wrote David Rosenberg, the well-respected former Merrill Lynch analyst who is now the chief economist at Canadian firm Gluskin Sheff, in his recent newsletter. "Dysfunctional is more like it."

The first factor to consider is that the huge rebound in stocks and in all sorts of risk assets from the spring of 2009 until May of this year wasn't necessarily driven by a belief that better times were coming. It was driven by a belief that investors had to buy riskier assets given the Fed's determination to hold interest rates near zero. Because investors can't get a return in "safe" assets—indeed, a small return will get chewed up by inflation—they are driven to riskier assets. As more investors pile in, everyone is driven further out along the risk curve.

This is what traders call "risk on." What they mean is that you'll be rewarded for buying risk, regardless of reality. The Fed's second round of quantitative easing ("QE2"), in which it bought $600 billion of Treasuries in order to keep interest rates low, encouraged this investment strategy. "We had a nice two-year rally in risk assets and something close to an economic recovery, but as we had warned, it was built on sticks and straw, not bricks," wrote Rosenberg. "This isn't much different than the financial engineering in the 2002-07 cycle that gave off the appearance of prosperity."

 The Fed intended this to end happily. The fake wealth created by a soaring market was supposed to turn into real wealth, because rich people, who control much of the economy and who have much of their money in the market, were supposed to spend more. But it hasn't worked, partly because of problems in the rest of the world—the tsunami in Japan, the financial crisis that's brewing in Europe—and partly because our own economy is too deep in hock to achieve the necessary stimulus. As Howard Marks, the chairman of Oaktree Capital Management, put it in his recent letter, "The world has awakened to the undesirability of ever-growing government debt."

You can think of the Fed's medicine as a painkiller. It allows everyone to pretend that bad stuff isn't happening, until something shatters the illusion and the comfortable numbness abruptly gives way to panic. There's massive selling. Then the Fed reassures everyone that its toolbox isn't empty just yet—witness the big upturn on Aug. 9 after the Fed said it would likely hold rates near zero until mid-2013 (a worthless prediction if inflation surges)—and the market soars. Risk on!

It's hard to develop any real conviction about the direction of the market when so much depends on the actions of the Federal Reserve. That's especially true because even the members of the Federal Reserve Open Market Committee aren't all in agreement. Three members voted against the Fed's Aug. 9 announcement. Complicating matters is that the short term direction of the real economy is also at the mercy of the government. The key line in this Wall Street Journal story: "As goes government spending, so goes the U.S. economy."

Another possible factor in the madness is forced selling by big hedge funds. There are rumors that funds are getting hit by margin calls, or that funds that are having a bad year are getting redemption requests from investors, thereby forcing them to sell. Most of the gossip has focused on John Paulson (the hedge fund manager who famously made his fortune by shorting securities backed by subprime mortgages), given the big positions he was known to have in stocks that have gotten trashed. But if Paulson is hurting, he's probably not alone. "No way big guys could have gotten out," one trader tells me via email. "Big hedge funds with all the same big positions. This move down happened so fast that they are trapped." If this theory is right, then sudden rallies like Thursday's upturn will be followed by more selling, as hedge funds take advantage of the ability to get out.

The last explanation I've heard is that most of the buying and selling hasn't been driven by real people, but rather by computers. Hello, HAL 9000! In the last five years, computer-driven trading, whether controversial high-frequency trading or just programs that buy baskets of stocks based on technical figures, has become a bigger and bigger part of the market. Depending on how you define it, sources tell me it constitutes 70 percent to 90 percent of trading now. "The human element is gone," one trader tells me. At least some people believe that the presence of computers exacerbates the big moves up and down. According to this paper by X. Frank Zhang, an associate professor of accounting at the Yale School of Management, "high frequency trading is positively correlated with stock price volatility." Zhang goes on to say that the "positive correlation is stronger among the top 3,000 stocks in market capitalization and among stocks with high institutional holdings. The positive correlation is also stronger during periods of high market uncertainty." Zhang's academic work is supported by the observations of those who have been in the market for a long time. "I suspect that the real culprits here are the computers Wall Street has programmed and unleashed to trade and manage portfolios," wrote John Bollinger, who has been publishing his Capital Growth Letter for more than two decades. "The sort of mindless selling that we are seeing is most likely the result of machines trading and human beings desperately trying to keep up with them."

Should you buy? Should you sell? No one knows. The world is always an uncertain place, but right now it's more uncertain than usual, whether about the ultimate resolution of Europe's crisis or about how the U.S. will reduce its debt and get the economy growing again. Or perhaps I should say reduce its debt or get the economy growing, since it's unlikely to achieve both at the same time. This inability to guess what the future holds means that madness rules.’

 

Withdrawals From Stock Funds Biggest Since ’08  Aug 12th, 2011 15:32 by News (Bloomberg) — Investors pulled the most money from global stock funds since 2008 in the past week as the Standard & Poor’s downgrade of Treasuries and the deepening European debt crisis prompted a flight into cash and gold. Funds that buy global equities suffered $3.5 billion in net withdrawals in the week ended Aug. 10, the most since the second week of October 2008, according to Cameron Brandt, director of research at Cambridge, Massachusetts-based EPFR Global. Investors removed $11.7 billion from funds that invest in U.S. equities, the most since May 2010 when investors pulled money following a one-day market crash that briefly erased $862 billion.“This week had a feeling of capitulation as we saw investors running for cover,” Brandt said in a telephone interview. “The last time we saw this kind of flight to safety” was in 2008, he said.’

 

 

U.S. Consumer Confidence Drops to Three-Decade Low Amid Economic Headwinds  Aug 12th, 2011 13:10 by News (Bloomberg) — ‘Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.The Thomson Reuters/University of Michigan preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior month. The gauge was projected to decline to 62, according to the median forecast in a Bloomberg News survey.’

 

 

 

 

 

Pity the Policymakers  July 21st, 2011 by News  by Mohamed A. El-Erian (Project Syndicate) — ‘I don’t know about you, but whenever I am in an airplane experiencing turbulence, I draw comfort from the belief that the pilots sitting behind the cockpit’s closed door know what to do. I would feel very differently if, through an open door, I observed pilots who were frustrated at the poor responsiveness of the plane’s controls, arguing about their next step, and getting no help whatsoever from the operator’s manuals. So it is unsettling that policymakers in many Western economies today resemble the second group of pilots. This perception reflects not only the contradictory pronouncements and behavior of policymakers, but also the extent to which economic outcomes have consistently fallen short of their expectations.This perception is evident in Europe, the United States, and Japan, where indicators of economic sentiment are deteriorating again, already-weak recoveries are stalling, and over-stretched balance sheets are becoming even more precarious.’

 

 

 

Greek finance minister brushes off downgrade [ Sounds like a plan! ]

 

 

 

Is America The Next Greece? at Forbes Marc Schindler ‘After many years of overeating (overspending) Greece is in the emergency room with a major financial heart attack and America isn’t far behind.

The doctors (IMF, European finance ministers, the ECB, etc.) are running around trying to save it. Open heart surgery (loans guaranteed by others) has averted the immediate crisis, but Greece is just as overweight today as it was before the crisis. Attempts to lose weight through exercise (austerity measures) cause serious chest pains (riots). The doctors don’t want to admit it, but all signs point to a heart transplant (default) as the only way to get Greece onto its feet again.

Greece isn’t the only one. It is a veritable epidemic. Ireland, Italy, Portugal, Spain and a host of other countries are having chest pains. Iceland is feeling better now with its freshly transplanted heart. The American home owner is still in the hospital from his financial heart attack after gobbling up vast quantities of real estate, and it has been many decades since Uncle Sam last could see his toes.

By most accounts (e.g. here or Bill Gross‘ statements in a recent interview) total hidden government liabilities add up to about $60-$100 trillion. That is on top of the $14 trillion of debt carried on the balance sheet. Adding up those liabilities, the US owes at least five times GDP, which currently sits at about $15 trillion. For comparison, Greece’s debt is about 1.5 times its GDP.

This is not really a fair comparison, because it leaves out any hidden liabilities Greece may have. The US debt figure includes unfunded entitlements, state and local debt, and underfunded public pensions. Nevertheless, it is clear that this is an unsustainable debt load even if the estimates turn out to be off by a factor of two or four.

Uncle Sam is already more overweight than Greece ever was. If he doesn’t change his ways, he will end up in the hospital like Greece, but at present he is partying like there is no tomorrow, gorging himself on entitlement spending, costly wars, bailouts, subsidies, and countless other delicacies.

Perhaps it would not be such a bad thing if the talks about raising the debt limit failed. After Uncle Sam suffers the resulting self-inflicted mild heart attack (temporary default) and finds out how much fun it is to fetch up in the emergency room, he might be more inclined to take care of himself, slim down, and stick with an exercise regime.

Some kind of a wakeup call is necessary while there is still time to deal with our debt problem. The only way to address it is for Washington to do its job: get everybody to recognize that there is a problem, find a solution that demands some sacrifices from everyone, and work together across party lines to implement it. In the current political environment that does not seem to be possible. Something needs to change the environment. Greece shows that the alternative is not pretty.’

 

 

Corporate Earnings Soar Amidst a Dismal Job MarketWall St. Cheat Sheet [That game’s about to end! In fact, that game’s over!  Dave's Daily  'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- ]

 

 

Standing on the precipice – and ready to jump  July 21st, 2011 News By Wolfgang Münchau ( Financial Times) — ‘It looks like there will be deal on a eurozone package for Greece. The full details are still missing, but it appears that the eurozone is forcing Greece into a selective default. As part of such a package, short-term Greek debt will be more or less forcibly converted into long-term debt. The wretched bank tax is mercifully off the table. And the European financial stability facility will most likely be allowed to purchase Greek debt at a discount. LET US NOT MINCE WORDS HERE. THIS WOULD BE A DEFAULT, THE FIRST BY A WESTERN INDUSTRIALISED COUNTRY IN A GENERATION. I am not quite sure how it is possible for the European Central Bank to agree to this, or to all of this. But I will surely be intrigued to hear how Jean-Claude Trichet will manage to be consistent with what he said a few days ago. There are also reports that the eurozone leaders may accept a more flexible EFSF beyond those bond purchases.’

 

 

 

State Finances Are Worse Than You Think at Forbes

 

 

 

So Far, Market Ignoring Dire Warnings at Minyanville

 

 

 

The Greater Depression Is Upon Us by David Galland http://www.lewrockwell.com/orig10/galland34.1.html  Casey Research Recently by David Galland: The Road to Perdition  The phrase “Greater Depression” was coined by Doug Casey a decade or so back as a way of describing the economic crisis he foresaw as inevitable, and which is now materializing.

Because I think it is important for every organization to constantly challenge its own assumptions, I’ve long acted as something of a devil’s advocate here at Casey Research. By constantly pushing our analysts to revisit their assumptions and calculations, it is my firm intention for us to spot the fork in the road that indicates it is time to shift strategies away from investments designed to do well in the face of a currency debasement and to something else.

Being attentive to that fork in the road is hugely important, because even though we urge our subscribers not to overdo their exposure to inflation hedges, we recognize that many do. Many a good person had their clocks cleaned in the early 1980s solely because they had become overly enamored of their precious metals – so much so that they stopped thinking of them as an asset class and began thinking of them more in the terms one might associate with an amorous dinner date. Thus these investors were utterly unprepared when said date stood up and broke a dinner plate over their heads.

With that brief setup, I want to make our views clear: While we correctly anticipated the recent correction in precious metals, this correction is but a blip in a secular bull market that is very much intact.

Doug Casey has often said that the unfolding crisis is going to be even worse than he expects (which is saying something), and the longer the rest of us at Casey Research study the tea leaves, it is hard to disagree that the Greater Depression is still ahead.

Consider:

  • THE EUROZONE IS GROWING INCREASINGLY DESPERATE. Watching the heads of Europe dither and debate over further bailouts to the unhappy Greeks and other troubled PIIGS – before ultimately reaching back into the pockets of the equally unhappy citizens in Germany and the decreasing number of still-functioning economies in the eurozone – reminds me of a down-on-his-luck blackjack player. He’s mortgaged his home to play the game but is now down to his last chips. He doesn’t want to risk his remaining resources but has no choice, because to walk away now will mean taking up residence in a cardboard box. And so, reluctantly, he shoves across another pile. The problem is that the game is rigged – and not in his favor. As the PIIGS start to default and either leave the eurozone entirely or are shunted off into some sort of sidecar organization, there will be great volatility in the euro and in the European markets.
  • THE U.S. DEBT SITUATION IS FAR WORSE THAN ANYONE IN WASHINGTON IS WILLING TO ADMIT. We keep hearing calls for more, not less debt creation. But if people would stop kidding themselves and tally up all the many demands the U.S. government has against it, the actual debt-to-GDP ratio rises to something on the order of 400% – and even that is likely understating things. The fundamental flaws in the U.S. monetary system – flaws that have given license to the bureaucrats to smash the limousine of state straight into a wall – have required a remaking every 20 to 30 years or so. The problem is that there is pretty much nothing else that can be done to save the status quo at this point, and so the monetary system is likely to collapse. That means big changes ahead, including – or perhaps starting with – a poisonous ratcheting up of interest rates.
  • CHINA’S MIRACLE MIRAGE. While having aspects of a free market, the hard truth is that China is run as a command economy by a cadre of communist holdovers. This is apparent in the cities that have been built for no purpose other than creating jobs and boosting GDP. It is also apparent in the growing inflation in China – the inevitable knock-on of the government’s decision to yank on the levers of money creation harder than any other nation at the onset of the Greater Depression. Meanwhile, signs of social unrest crop up here and there. Though so far they have been swiftly put down, there is no question that the ruling elite has to walk a very fine line. If the Chinese economy stumbles seriously, all bets are off. That we are talking about the world’s second-largest economy means this is not of small consequence.
  • JAPAN IS ESSENTIALLY OFFLINE. Reports from friends in Japan – including one who was initially skeptical about the scale of the problems at Fukushima – have now changed in tone by 180 degrees. You can almost feel the growing sense of desperation as the already massively indebted nation begins to slide toward an abyss. There is little standing in the way of the world’s third-largest economy’s slide.
  • THE MIDDLE EAST IS IN FLAMES. This, too, is far from settled. As usual, the U.S. government has been hopping here and there in an attempt to maintain its influence, but at this point pretty much everything is up for grabs. The odds of the U.S. retaining the same level of influence in the region that it has enjoyed over the last century are slim to none, especially now that even the Saudis are shipping more of their oil to China than to the U.S. Again, big changes are ahead…’

 

 

 

Watch Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes  Sean Hanlon  Back on December 12, 2007 I wrote a market commentary that started as follows:

The equity markets have been very volatile this year, but also range bound.  A picture speaks a thousand words so all one needs to do is view the chart below of the S&P 500 Index to understand just how volatile and range bound things have been.  Specifically, since February 20, 2007, only nine and one half months or so ago, the S&P 500 Index has been down 5.86%, up 13.02%, down 9.43%, up 11.26%, down 10.09%,
and now up 7.73%
– through 12/10/07 – so far in this
latest up leg!  All this in ONLY nine and one half months!

http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-1.jpg

History is repeating itself so far in 2011, which has been fraught with ups and downs in both international and domestic equity markets.  This is due to many things, including the considerable economic doubts and various countries debt situations. This uncertainty has translated into market performance with direct impacts on portfolio returns and more prominently in portfolio volatility. This volatility is best seen in the chart below of the S&P 500 Index beginning 1/1/11.

http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-2.jpg

2010 ended positivity and the momentum carried into the first two months of 2011 however the end of February began a series of events that led market returns on a whipsaw ride of ups and downs, resulting in the current universal mid-year views of market uncertainty.

What news was associated with this volatility? All the usual; crude oil prices, natural disasters, corporate earnings, politics, economic forecast revisions for both developed and emerging markets, the European debt situation, the United States debt situation and more to name just a few.

One thing is for certain; the current volatile, range bound market activity is difficult at best to profit from.  In this investing environment patience is the most important attribute.  I will be patient and will be careful until the trends are preferable.

Our strategy at Hanlon Investment Management is to attempt to minimize downside risk by exiting risk asset classes, such as equities, during periods of uncertainty, getting invested in more conservative asset classes, such as money markets and short-term bonds, and re-entering into risky asset classes when we identify them as attractive, when the trend is our friend and positive!

Having identified this volatility, in June we made defensive, tactical investment decisions that provide less exposure to these volatile, range bound markets and prepare us to re-enter the markets when they possess improved risk characteristics.’

 

 

 

 

Deficit Ceiling and Stocks - Expect the Unexpected ETFguide Simon Maierhofer, July 19, 2011, ‘A number of cliches come to mind when talking about the U.S. debt situation. The most appropriate might be: 'You can't have your cake and eat it too.' The least applicable is probably: 'Never put off until tomorrow what you can do today.'

But if you think the U.S. will default on some of its obligations anytime soon, you don't have enough faith in the government's most potent weapon - extend and pretend (another cliche that's become the modus operandi).

Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit. Chances are Congress will act again before the August 2 deadline. That however isn't good news.

By the end of this article you will know the common sense, no nonsense, deficit ramifications for the stock market and why even 'a deal' isn't good news.

USA Inc. - Income Statement

If the United States was a corporation - USA Inc. - here's what the Income Statement would look like:

Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.                                 

The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. But there's no reason to despair, just before April 15,Congressional leaders were able to agree on $39 billion worth of budgetcuts for the remainder of the year.

Senate Majority Leader Harry Reid hailed this heroic effort as a 'historic' level of cuts. To quantify just how 'historic' that effort was we'll put it in percentage terms -1%. The cut amounted to only 1% of the 2011 budget. Apparently it wasn't enough. Thanks to extend and pretend we've arrived at the next deadline.

Stocks Applaud ... and Decline

Keep in mind that back in mid-April when the 'historic' $39 billion cut was hammered out, the S&P was at about 1,300. Following the 'resolution' of the budget problem stocks rallied about 5%.

The April 3 ETF Profit Strategy Newsletter featured the chart below (due to size restrictions the chart had to be reduced). As per the chart and accompanying analysis, the Newsletter expected a rally to the next Fibonacci resistance at 1,369, followed by a bounce off the Fibonacci support at either 1,229 or 1,255 and an attempt to take out the previous high.

 http://www.etfguide.com//contributor/UserFiles/8/Image/5%20-%20April%203%20TF.jpg

This outlook was based purely on technical analysis with no regard for the deficit problem or European debt woes (we'll take a look at an updated technical forecast in a moment). The S&P did top at 1,370 on May 2. Thereafter it dropped to 1,259, and tried to take out the previous high (the S&P rallied as high as 1,356 on July 7and stumbled thereafter).

USA Inc. - Balance Sheet

If you think the Income Statement looks bad, you may not want to look at the Balance Sheet. Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion.

The Deficit and Stocks

When President Obama took office in January 2009, the federal debt was 70% of GDP or $10 trillion. Today the deficit is close to 100% of GDP at $14.3 trillion.  As per a recent AP report, President Obama had to scroll down his demands and would now be content with a $2.4 trillion debt ceiling increase to make it last beyond the 2012 elections.

No doubt, the President would like the deficit issue put on hold until he's re-elected. It seems like everyone has an agenda that takes priority over solving the actual debt issue. The whole game could be summed up as White House budget director Jack Lew put it: 'That all these ideas do is say let's kick the can down the road so that others will deal with it.'

This, by the way, is why the pre-election year of the Presidential election year cycles has seen gains consistently since 1939, because the incumbent party will do what it takes to remain in office longer.

A lose-lose Situation

The drawback of the deficit situation is that there is no easy way out. The government has to either cut spending (as in fewer benefits for Americans) or increase revenue (as in higher taxes).

Pick your poison. Either choice will kill the economy. Of course, you can extend and pretend, which is probably what will end up happening. No matter how much lip stick you have at your disposal, a pig remains a pig. The deficit is a big (red) pig.

What is worse, a $14.3 trillion deficit today, or a $16+ trillion deficit (according to Obama's wish) in 2012? Debt is like gangrene, dry rot or mold, it doesn't just go away, it gets worse (ask Greece, Ireland, Portugal or any of the other PIIGS).

Eliminate Variables

Using European (NYSEArca: VGK - News) debt troubles as a benchmark, there hasn't been a direct correlation between U.S. stocks and European debt. To generalize this even further, there hasn't been a real correlation between the U.S. deficit issue and U.S. stocks.

It was in June 2009 that Greece admitted to having a 'small' problem. Stocks rallied throughout the remainder of 2009, most of 2010 and some in 2011. The same is true for the MSCI EAFE ETF (NYSEArca: EFA - News) and Emerging Market ETF (NYSEArca: EEM - News).

Admittedly, the U.S. is a much bigger problem than the PIGGS, but the principal remains the same - basing investment decisions on the outcome of debt negotiations is tricky because the market has a mind of its own.

Since early 2010, every single time the major indexes a la S&P (SNP: ^GSPC), Dow (DJI: ^DJI), and Nasdaq (Nasdaq: ^IXIC) sold off more than a few percent, it's been blamed on Greece. What many don't consider is that the market was helplessly overbought in January, and April 2010 and 2011 and due for a correction anyway. It seems like Greece has been a scapegoat more often than the actual cause. Perhaps it's a game of chicken and the egg. Which came first?

No Chicken-Egg Game

It has been more beneficial and profitable to rely on solid technical analysis rather than playing the chicken and egg game.

Technical analysis along with sentiment readings pegged a market bottom of the same degree at S&P 1,259 - 1,245. That was the opinion of the ETF Profit Strategy Newsletter on June 15 (one day before the 1,258 bottom):

'The 200-day SMA at 1,257 is sandwiched between the 1,255 Fibonacci projection level dating back to 2002 and this week's s1 at 1,259. Wednesday's low was at 1,261.9. If this low is not enough, there is a strong cluster of support at 1,259 - 1,245. A drop into the 1,259 - 1,245 range would prompt us to close out short positions and leg into long positions' (long positions were closed out at S&P 1,345 on July 7).

There was no fundamental good news on June 15 or 16. Some of the headlines featured on June 15 were:

'Is the bull market over? A look at four different sentiment measures suggests that more pain may await investors.' - Barrons

'Greek default could trigger chain reaction' - AP

'Confidence is eroding among U.S. factories, consumers' – Bloomberg …’

 

 

 

Fed Keeping Market Afloat: QE Rally Not Sustainable http://regator.com/p/252365030/fed_keeping_market_afloat_qe_rally_not_sustainable By Matthew Claassen

 

 

Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis.

Once again I see all the “canaries in the mine,” which warned of the 2008 crisis. My just released book, Financial Apocalypse , provides the clues and the road map, with charts, of how my  indicators successfully predicted the meltdown that occurred in the fall of 2008. This book is a guide for detecting the next crisis whenever it occurs.  History repeats, or at minimum, it rhymes.

My work shows that “the new recession has started.” The May 9 issue of the Wellington Letter was headlined:  “Return of the Double-Dip.”  At the time, economists were looking for a great economy in the second half. Now they talk about a “soft patch.”  Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER).

How can we be in recession now when the GDP still shows growth? Because of improper inflation adjustments. “Real” GDP growth, the headline number, is nominal growth minus the rate of inflation. However, inflation is far understated for political reasons.

Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction.

When the current euphoric earnings forecasts of Wall Street finally reflect that via significant “earnings downgrades,” the stock market will see a serious “adjustment” as well.

On July 18, Goldman Sachs (GS) substantially lowered its economic growth forecast. Marketwatch.com had this headline:  Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially reduce earnings forecasts for the S&P 500.

Will the phase II be as bad as the 2008 crisis? The last crisis was confined to the private sector, i.e. financial institutions. The next one will be involve the threatened default of entire countries. The last time, the central banks bailed out the financial firms and even Warren Buffett bailed out several firms. Who is big enough to bail out entire countries? Or will the term of “too big to fail” turn to “too big to bail?”

Bert Dohmen is editor of the Wellington Letter and author of Financial Apocalypse.’

 

 

Retail Sales: The "Real" Consumer Remains in a Recession   Doug Short Read more: http://www.businessinsider.com/author/doug-short#ixzz1TAkuAIOK

 

 

 

3 Top Crooks Still Roaming Free After the Economic Crash Wall St. Cheat Sheet July 25, 2011, The global economy and stock markets took a nose dive in 2008. But that hasn’t stopped some of the biggest masterminds from escaping a day of luxury.

Here are three financial crooks who are probably sipping daiquiris in Capri at our expense:

Lehman Brothers CEO Richard S. Fuld, Jr.

Few executives were as intimately and extensively involved in the downfall of their firms as Dick Fuld . At the time of the financial collapse, Fuld had worked for Lehman Brothers for nearly 40 years, and had been the firm’s chief executive since 1994. In that role, not only was he the longest-tenured CEO on Wall Street at the time of the financial crisis, but he was considered one of the best. He was named Institutional Investor magazine’s top chief executive in the private sector in 2006. The following year, he was paid more than $21 million in cash and stock on top of his base salary of $750,000 a year after the bank’s net profit rose 5% to a record $4.2 billion. And as recently as March 2008, Barron’s listed him on their list of the 30 best CEOs, referring to him as “Mr. Wall Street”.

When the financial crisis hit, Fuld was one of the few executives to hold onto his position. He counted himself responsible for the company, but didn’t realize just how much real estate loans and other toxic assets were weighing on his balance sheet. Instead, he remained confident in the firm that he helped grow from a negative profit in 1993. His hubris can somewhat be understood, given the firm hadn’t reported a single quarterly loss since it went public. But Fuld was wrong. He overestimated the value of his firm, rejecting offers that could have saved it from collapse because they didn’t adequately reflect what he felt the firm was worth.

We know that sub-prime mortgages were almost solely responsible for the financial crisis, and a large part of the Wall Street’s fourth-largest investment bank’s worth was held in its mortgage business, where mortgages were re-packaged and sold to other investors, often for more than they were really worth. In fact, Lehman was the top U.S. underwriter of mortgage bonds in 2006 and 2007, accounting for roughly 10% of the market. As CEO, Fuld was responsible for buying those assets, which ultimately became toxic and impossible to unload. But whether or not Fuld can be held wholly responsible for the firm’s loan practices, he can be held responsible for the firm’s bankruptcy. As late as August 2008, after many CEOs had already been forced to resign, he rejected an offer by state-run Korea Development Bank to buy a 25% stake in Lehman for $4 billion to $6 billion.

There’s no question that the firm Fuld helped build, that he’d been a part of since 1969, where he held the top position for 14 years, was criminally responsible for the financial crisis. In fact, it may be the most culpable, given the sheer volume of sub-prime mortgages underwritten by Lehman in the years leading up to the market collapse. On September 15, Lehman became the largest firm to file for bankruptcy in history, dealing a devastating blow to an already fragile financial system. A few weeks later, Fuld was summoned to appear before Congress as part of an inquisition. He was also investigated by three United States Attorneys offices in New York and New Jersey. But ultimately Fuld walked away from Lehman Brothers having pocketed nearly $500 million just in his last six years with the firm, years during which Lehman’s sub-prime mortgage practice was contributing to what would ultimately cost taxpayers $700 billion in a government-issued bank bailout program. Fuld was never charged with or convicted of any crimes.

AIG Financial Products CEO Joseph J. Cassano

As a founding member and head of AIG Financial Products, Joe Cassano was responsible for selling hundreds of billions of dollars worth of credit protection in the form of credit-default swaps (CDS) on U.S. sub-prime mortgages, a form of insurance that didn’t require that AIG put down any form of collateral. So when the financial crisis hit in 2008 and investment banks requested the insurance money for their collapsing derivatives, AIG was unable to pay what was owed and ultimately had to be bailed out by the government, receiving about $170 billion in taxpayer money.

Cassano resigned from his position at AIG FP in March 2008, having pocketed $280 million in cash and an additional $34 in bonuses. He even managed a $1 million-a-month retirement package that kept him on at AIG as a “consultant”. Cassano even went on record denying any fault on the part of AIG, saying,

“We believed until late 2005 that banks and other mortgage originators were applying appropriate standards when writing mortgages. When we recognized — well before many others — that changes in the mortgage market likely presented increased risk for future deals, we decided to exit the subprime business. We thought the decision was appropriate, despite the lost profits at the time. With hindsight, the decision looks even more prudent.”

Cassano went so far as to blame the bailout for losses on CDS contracts, saying there would have been few, if any, had they not been unwound by the bailout. Testifying before the Financial Crisis Inquiry Commission, Cassano fully defended his firm’s CDS practices, outlining the careful approval and monitoring system that, “specifically identified risk factors and provided an analysis of those risks.” Cassano insisted that AIG had not miscalculated the risks of sub-prime mortgages.

However, Cassano was directly responsible for AIG’s credit-default swaps program that put the firm’s many clients, including Goldman Sachs, in danger when it was unable to pay out on insurance claims. He essentially sold billions of dollars worth of vapor — he failed to provide what had been paid for by the firm’s clients. That sounds remarkably like fraud, the grounds upon which many investors have filed suit against Cassano. In fact, regulators in both the U.S. and the U.K. investigated Cassano’s acts to determine whether they had been criminal. But like just about every executive responsible for the financial crisis, Cassano was not ultimately charged with any wrongdoing, and remains a free man.

Countrywide Financial Chairman and CEO Angelo Mozilo

Ranked second by Condé Nast Portfolio on their list of the “Worst American CEOs of All Time”, Angelo Mozilo was charged in 2009 of insider trading and securities fraud by the U.S. Securities and Exchange Commission. Mozilo personally sold hundreds of millions of dollars in stock while using shareholder funds to buy back stock to support the share price. He is also responsible for what has been termed the “Friends of Angelo” VIP program under which several influential lawmakers, including Senate Banking Committee Chairman Christopher Dodd, as well as many Fannie Mae employees and other “Friends of Angelo”, received discounted mortgages.

However, Mozilo was allowed to settle with the SEC on all charges. He agreed to pay $67.5 million in fines, the most ever exacted from an individual in connection with the 2008 financial crisis, and he was banned from ever serving as an officer or director of any other public company. Robert Khuzami, director of the SEC’s Division of Enforcement, said that “Mozilo’s record penalty is the fitting outcome for a corporate executive who deliberately disregarded his duties to investors by concealing what he saw from inside the executive suite.” But in settling, Mozilo was able to avoid a trial and any subsequent criminal charges, and was not required to acknowledge any wrongdoing.

Mozilo’s net worth has been estimated at roughly $600 million. And because of the indemnification agreement in his contract with Countrywide, the firm was responsible for paying roughly one-third of his fines, leaving Mozilo with a bill of $47.5 million — that’s less than 10% of his worth. Aside from Bernie Madoff, the only executive tied to the financial crisis to be criminally prosecuted and convicted, Mozilo’s settlement is the greatest punishment inflicted on any executive responsible for the country’s economic collapse, and falls desperately short of true justice.’

 

 

 

Debt, Deficits and the Demise of the American Economy' - Author Peter Tanous Discusses Risk

 

 

 

US Equities Forecast and the Anticipated Path of the Market at Minyanville  Peter Prudden July 25, 2011 ‘… the headline risk remains to the downside and the bogey to lower equity prices in the short to intermediate term is concentrated on the U.S. Debt ceiling. At some point, not only must all developed economies deal with marking down to the level of income, but we must restructure large amounts of excess leverage. Until we accomplish this, growth will be problematic…’

 

 

 

Putin says U.S. is "parasite" on global economy [Unfortunately, this is very true. More unfortunately is the fact that most worldwide don’t realize that fact! I mean, think about it: pervasively corrupt, defacto bankrupt america’s cancerous  perma wars, over-printed debased ‘Weimar’ paper ‘reserve’ currency, huge frauds in securities and otherwise, etc..  ]

 

 

 

3 Reasons Why This Summer Could Get Ugly  Simon Maierhofer, July 29, 2011 [ Well, before getting to the article, we all know why: because … ‘Sell in May, and go away!’ … Quite simple, as previously set forth here and elsewhere, you should have ‘sold in May, and went away!’ Why? Because … as Rosanne Rosanna Danna formerly of SNL fame and as her mama always used to say, ‘it’s always somethin’’ … but unfortunately, that somethin’ is not necessarily what they say it is. ]  It seems like the European Union and U.S. government are stuck in a never ending game of Whac-A-Mole. It seems like more moles are popping up more quickly, needing more force to be subdued (ironically the moles come back just as the problems do)…’

 

 

 

 

 

Mapping the Myths of the U.S. Economy - Stacy Curtin  ‘In The Real State of America Atlas: Mapping the Myths and Truths of the United States, authors Cynthia Enloe and Joni Seager paint a vivid picture of life in the U.S., using a series of charts, graphics and short essays that cover almost every aspect of the nation's economy and society as a whole.

Not only do they give state-by-state comparisons, they show how the U.S. measures up to the rest of the world in areas such as health care, housing and defense. But while analyzing what it's really like to live in the U.S. today, they also uncovered a few "myths and truths" as the title of the book suggests.

Enloe and Seager joined The Daily Ticker's Aaron Task to share three of the most surprising misconceptions they uncovered.

#1 Land of Homeowners

The dream of owning a home is actually more the reality in other countries. In the book, the authors point to the most recent data, which show only 68% of Americans owned their home in 2002, compared with 92% in Hungry, 84% in Mexico, 72% in the U.K. and 71% in Australia.

"One of the things that is a cherished notion about America is we are a nation of homeowners, and homeownership has long been seen as kind of the bedrock of the American dream," says Seager. "I think the current economic crisis and the housing crisis is really shaking that American cherished view of ourselves as having easy access to homeownership."

This is evident in another stat laid out in the book, which shows 83% of people agreed that buying a home was a safe investment in 2003, compared with 70% in 2010. (See: Why I Am Never Going to Own a Home Again)  { Home ownership hits lowest level since 1965  NEW YORK (CNNMoney) Les Christie August 5, 2011 As the foreclosure crisis continues to wreak havoc on the housing market, a source of national pride has taken a sour turn. Home ownership is on the decline and, according to a recent Morgan Stanley report…’ }

#2 Land of Opportunity

Just like the ideal of owning a home, opportunity in this country is now also on the brink.

"Opportunity in this country means a chance for an education … [and] a chance for a decent job that allows you to have a decent life," says Enloe, who points to two key factors that hinder people making it here in America.

  • The cost of a college education continues to rise year after year.
  • The unemployment rate remains high at 9.2%, but it doesn't factor in the millions of "underemployed" workers -- those who are currently working part-time but would like full-time work -- and discouraged workers who have tired of looking for a job and have just dropped out of the job market.

#3 Land of Givers

While the U.S. does give more money in foreign aid than any other country in the world, as a percentage of GDP it falls way behind many other nations.

Whereas Sweden gives almost 1% of its GDP in 2008, the U.S. gave 0.19%.

"I think it really should shake Americans' self-perception of two things," says Enloe. "[One] is cutting foreign aid actually the ticket to balancing the budget, but also how do we shape up compared to other countries' generosity?" ’

 

 

 

Debt Deal Is A Blank Check at Forbes

 

 

U.S. Economic Pessimism Grows - Stacy Curtin  ‘While Democrats and Republicans were arguing over how to prevent the U.S. from a default, families across the country have become increasingly concerned about the overall state of the economy, according to the American Enterprise Institute's latest compilation of recent polls taken in various regions.

Friday's worse than expected GDP numbers only reaffirm this notion. The U.S. economy grew less than expected in the second quarter at 1.3%, but the bigger shock came after Q1 GDP was revised down to 0.4% from 1.9%. These numbers suggest the country could be headed for another recession and Americans are definitely feeling the pain. (See: 2011 Is Proving to Be a Horrible Year For the Economy)

One of the most disconcerting findings in the AEI report is a CBS/New York Times poll from June. It showed that over the last year, more Americans have come to believe the current economic downturn is part of a long-term permanent decline and that the economy will never fully recover. In October 2010, 28% of respondents agreed with that statement, versus 39% last month.

"Americans are so pessimistic about the economy now ... . And the level of public pessimism is actually higher than the deep 1981-82 recession overall," due to grim personal outlooks on a number of issues like jobs, retirement and health care, says Karlyn Bowman, a senior fellow at AEI who co-authored the report. "Their negative sentiments are affecting the way they feel about their family's future, and interestingly, the way they feel about their state governments. Usually negative attitudes about the national government don't seep into attitudes about the state government, but this time it is really different. This negative, gloomy mood is pervasive.

Speaker of the House John Boehner echoed these concerns Thursday before one of the many failed House votes to raise the country's debt ceiling. "This is a challenging time for our country," he said. "Americans are worried about their jobs. They're worried about our economy. And they're worried about our debt."

Since the polls in the report were conducted before the debt-ceiling debate really began heating up over the last few weeks, one might conclude that if the same questions were asked today the responses would be even more pessimistic.

Here are other key findings from the AEI report:

Job anxiety: In the past six months, about 5% of Americans surveyed had lost their job, two in 10 said a family member had lost a job, and six in 10 knew someone who lost a job.

In June 2011, 58 percent were very or somewhat worried they could lose a job in the next 12 months. Nearly eight in 10 say jobs are difficult to find where they live. Around a quarter are worried about benefit or pay cuts.

Cutting back: Americans are cutting back on everything from health care to haircuts. Fewer than four in 10 say their personal financial situation is in excellent or good shape right now. Almost as many people say they are falling behind as believe they are getting ahead, but the vast majority describe their financial situation as having just enough money to maintain their standard of living. Inflation worries are high and steady.

Retirement: There's been a dramatic drop in the number of Americans who say they have enough money to retire. In 2002, around six in 10 believed they would have enough money. In the latest survey by Gallup in April, only about four in 10 say they will.’

 

 

10 Reasons We Are Heading for a Recession

 

 

USAGOLD RoundTable: Debt Ceiling “Resolution” – EU Sovereign Debt Crisis Aug 3rd, 2011 15:53 by News We’re pleased to present our latest RoundTable video discussion with our staff experts George Cooper, Peter Grant and Jonathan Kosares {Immediate access here} Excerpt: Now that the debt ceiling debate is over, and the dust is settling, the market is beginning to get a picture of what, if anything, was accomplished, and can be expected moving forward. The $2 trillion in cuts over ten years amounts to a small dent in our annual deficit, suggesting that the U.S. will continue to increase its debt to GDP ratio over the coming decade. The cuts suggested will merely slow, not reverse, this trend. In the end, this debt deal is nothing more than a giant kick of the can down the road, and a short road at that. The hike to the debt ceiling looks to only buy about six months, so this issue is set to be revisited next year. The market has digested this “resolution” as such, and gold has responded sharply higher, rising $60 in two days. The DOW meanwhile has come under significant pressure, shedding over 800 points in a week. Things across the pond are not looking any better. The credit facility set up by the ECB is insufficient at best, and contagion remains an enormous risk. Spreads on sovereign debt in Italy, Spain, Greece, Portugal and Ireland are at or near all time highs. As talks of dramatically expanding the credit facility heat up, we’re left to wonder if its even possible for Europe to “go big enough” to calm market jitters. With Peter Grant, George Cooper, and Jonathan Kosares. (24 min) The Daily Market Report Aug 1st, 2011 12:01 by PG  Relief? What Relief? http://www.usagold.com/cpmforum Late last night when party leaders and the President announced that they had reached a bipartisan deal that would allow the debt ceiling to be raised, gold dropped about 1%. Global stocks rallied in relief and briefly, ever so briefly, gold was out of favor. However, as the details were revealed, doubts were reignited: Doubts as to whether such legislation could actually make it to the President’s desk. Doubts that the deal would avert a downgrade of US sovereign debt.While the CBO scores the package as accomplishing $2.1 trillion in spending cuts over the next 10-years, the CBO baseline also has the deficit rising $6.7 trillion over the same period. The premise apparently being that we’re working our way to actual cutting by cutting to slow the pace of the nation’s proliferate spending. In actuality — and as evidenced below — that CBO baseline may prove to be way too optimistic.What really lit an intraday fire under gold today was the big miss on US July ISM, which plunged to 50.9. The market was expecting a modest downtick to 55.0 from 55.3 in June. On the heals of last week’s much weaker than expected quarterly GDP data, it has become abundantly apparent that the US economy has slowed to just above stall-speed. David Rosenberg, chief economist at Gluskin Sheff and Associates, noted last week that once the economy slows to a growth rate of 1.6% it has proven historically to be a “point of no return” and recession follows. With Q1 downgraded to just 0.36% and Q2 an anemic 1.3% — and likely subject to future negative revision as well — the writing may well be on the wall.The debt deal is a short-term kick of the can that at least initially focuses on spending cuts. However, with no mitigation of the uncertainties that have kept private capital sidelined for the past two-years of the so-called recovery, there is little reason to think that a more robust economy is just around the corner. In fact, the opposite may be true. That realization, tipped in by the ISM data, has further escalated the QE3 talk, which prompted gold to retest the record high set Friday at 1632.39. Relief? What relief?If we get another negative surprise on Friday when July nonfarm payrolls comes out, as the ISM employment index suggests we might, the QE3 talk will intensify ever more in the weeks ahead of the Fed’s Jackson Hole summit. Consensus on July payrolls are running around +100k, although we could see some tempering of those expectations in light of the ISM data.Even with the announcement of the debt ceiling deal, the dollar remains on the ropes, falling to new record lows against the Swiss franc and the yen. If this deal makes it through both Houses of Congress and is signed by the President, it is just another kick of the can — and a very short one at that — down the road. And with the specter of yet another round of quantitative easing hanging over the market, there is little incentive to buy dollars. Now the BoJ is once again contemplating direct intervention in the market, as I suspect the SNB is. If there are concerted efforts to slow the rise of these currencies, it may make gold an even more alluring option.’

 

 

S&P downgrades US credit rating from AAA The United States has lost its sterling credit rating from Standard & Poor's.

 

 

U.S. triple-A debt rating cut by Standard & Poor’s Aug 5, 2011 The United States late Friday lost its triple-A debt rating from Standard & Poor’s for the first tie ...
 

 

Text of S&P downgrade of U.S. rating  06 Aug 2011 The following is the text of Standard & Poor’s downgrade of the United States. ...
 

 

 

S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating  Wall St. Cheat Sheet  August 5, 2011,

‘Standard & Poor’s is out with an official downgrade of the U.S. credit rating:

• We have lowered our long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term rating.

• We have also removed both the short- and long-term ratings from CreditWatch negative.

• The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics.

• More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

• Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government’s debt dynamics any time soon.

• The outlook on the long-term rating is negative. We could lower the long-term rating to ‘AA’ within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

Investing Insights: Is the Debt Ceiling Raise Bullish for Gold?

 

 

 

13 Reasons Why The U.S. Is Now OFFICIALLY BANKRUPT Daily Bail | Stop the budget lies; there are NO cuts. House passes bill to INCREASE spending by $7 trillion over the next 10 years. ATTENTION IDIOTS IN THE MAINSTREAM MEDIA – Stop The Budget Lies – There Are NO Cuts – House Passes Bill To INCREASE Spending By $7 Trillion Over The Next 10 Years

Lies, Damn Lies And Government Budgets

I am so pissed off by the misreporting I could spit Ken Lewis hairballs.

#1) Corporate journalists and financial pundits know NOTHING about budgets.

#2) The Boehner led House passed legislation this evening that INCREASES spending by $7 TRILLION over the next ten years versus a baseline budget that would have increased spending by $9.5 TRILLION over the same period.

#3) CBO said today that LESS than 2% of the decrease in the GROWTH of spending will come before the 2012 elections. The remainder come after the election.

#4) Defense and war machine spending will grow at 3% per year instead of 4% per year.

#5) This was nothing but an agreement to agree at a later date to look for reductions in planned spending GROWTH.

#6) A Super Congress will decide on a mix of tax increases and reductions in planned spending growth to meet the targets at a later date.

#7) No one in Congress even considered Ron Paul’s simple plan, now endorsed by Time Magazine as well as liberal economist Dean Baker, to wipe out $1.6 trillion in fake debt owned by the Federal Reserve. Debt that we owe to ourselves, that is entirely legal to wipe away.

#8.) CBO says under this plan, the national debt will INCREASE from $14.4 TRILLION currently to more than $25 TRILLION over the next 10 years.

#9) The assumption for #8 above assumes the economy grows at 3% per year over the next 10 years, and that Treasury interest rates stay at historic lows. When rates increase, and bet your life that they will, interest on the debt will increase and so will annual deficits, leading to a national debt much higher than the $25 TRILLION that CBO estimates.

#10) Regarding Treasury rates and interest on the debt, get educated about a concept called ‘DURATION RISK.’ Turbo Geithner and his MENSA bed-fellows at Treasury have chosen to finance the great majority of recent and future borrowing in short-term bills, which means that they have to be rolled over frequently. This is perhaps the least-discussed and most dangerous issue related to Treasury debt.

#11) If S&P or Moody’s has the sack to downgrade the U.S. AAA rating, a Sovereign CDS default will be triggered and Global Financial Armageddon will be unleashed.

#12) The bill passed by Boehner tonight was the BEST they could do after 6 weeks of fighting.

#13) Due to #12, the United States is officially f*cked.

Thank you and good night.’

 

 

 

US Closer to ‘Junk Bond’ Status Than Triple-A: Bove Aug 9th, 2011 14:41 by News August 9 (CNBC) — ‘  “You’ve got a company which is losing about $1.4 trillion this year, probably will lose somewhere around a trillion dollars over the next couple of years. It owes $14.4 trillion (and) over the next five years that will get up to $20 trillion,” the Rochdale Securities analyst said.“So there’s no likelihood whatsoever that this particular company is able to pay down from its own resources the amount of debt that it has, nor is there any likelihood that it’s going to get rid of its deficit,” he added. “If that was a real company, of course, that would be a junk bond.”“I still would expect to see a thousand-point down day at some point in this market as people come to realize there has been a complete change in the financial structure of the world,” he said’

 

 

 

 

If U.S. Slides Into Recession, S&P 500 Could Drop To 830 at Forbes [The pervasively corrupt, defacto bankrupt u.s. is already in recession (actually worse)!  Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher.   Why The Dow Will Plunge To 7,000 By 24/7 Wall St.    S&P Poised For Dropoff, Says Initial Jobless Claims  Forbes / Maureen Farrell    ]

 

 

 

 

3 Ring Circus: Geithner, Buffett, and Obama Wall St. Cheat Sheet ‘…Treasury Secretary Tim Geithner , who said last April that there was no risk the U.S. could loose its AAA credit rating, voiced his thoughts on the downgrade.  He said, “ They’ve handled themselves very poorly, and they’ve shown a stunning lack of knowledge about the basic U.S. fiscal budget math.”  What exactly are they misunderstanding? The U.S. is the largest debtor nation in the world, and spending outlays vastly outnumber revenue.  Geithner went on to say that U.S. bonds were just as safe after the downgrade as before, and predicted that China and investors would remain strong buyers of government debt.On Monday morning, with stock futures heading sharply lower, Warren Buffett tried to inject confidence into the financial markets.  Buffett explained that he believes the U.S. debt is still rated AAA, and the downgrade does not change his mind about government debt.  In fact, the legendary investor holds $47 billion in cash and equivalents as of June 30th.  He said, “ If I have to buy Treasuries at zero percent yield, I will.”  At least the large cash hoard shows that Buffett puts his money where his mouth is.  However, one also has to wonder if Buffett’s shareholdings in Moody’s , a rival credit agency to S&P, has anything to do with his criticism of S&P.  To add fuel to the fire, S&P also cut Buffett’s Berkshire Hathaway outlook from stable to negative.Not to be outdone by Warren Buffett’s AAA endorsement, President Obama made a public announcement of his own on Monday.  Despite America’s financial hardship across the board, the President said, “ I’d give U.S. a quadruple-A rating.”  This was puzzling for many reasons ( besides the fact there is no quadruple-A rating).  America has a hard enough time keeping its AA+ or AAA rating, let alone achieving some pipe dream quadruple-A rating.  S&P may be the credit agency causing controversy now, but it’s not the only credit agency to downgrade America.  China’s credit rating agency Dagong ,  recently cut America’s debt rating from A+ to A, with a negative outlook.  Dagong had already cut America’s credit rating last November from AA to A+ after QE2 was announced.By the end of Monday, it was announced that the Senate banking committee had started a probe into the downgrade actions of S&P.  However, the damage is already done, confidence is broken in the markets.   Gold constantly reaching new highs is a clear example of this.  Perhaps the Senate banking committee should probe Fitch and Moody’s and investigate why they still have AAA ratings on U.S. debt?...’

 

 

 

Edwards says this has nothing to do with that downgrade   http://ftalphaville.ft.com/blog/2011/08/09/648126/edwards-says-this-has-nothing-to-do-with-that-downgrade

 Izabella Kaminska on Aug 09 2011

Thought the current turmoil was down to the downgrade of US debt? Wrong!

According to Societe Generale’s uber bear, Albert Edwards, this has absolutely nothing to do with S&P, the White House, Tea Party etc. It’s the economy stupid:

The simple fact is that the global economy is falling back into recession or indeed is already in recession. Equity markets were sliding before the downgrade and bond yields were reacting as one would have expected to the dire economic data. The S&P downgrade may have caused the breach of critical support levels of 1250 on the S&P, but anything could have caused that breach and triggered the technical rout. Expect some sort of retest of this neckline before the market ultimately meets its date with destiny.

Recent US GDP revisions revealed QE2 to be an abject failure as far as producing an economic recovery is concerned with dire 0.9% annualised growth reported in H1 2011. Yet to a man with a hammer, everything is a nail. Hence despite rising core inflation, there is certainly a level of economic and/or market pain to prompt QE3. But expect the real fireworks to occur when the adrenalin rush of QE3 wears off even quicker than QE2.

There are still some diehard ‘happy clappies’ out there who think we are going to avert recession and the markets will recover. Yet US GDP growth has now fallen below the wellknown 2% stall speed, below which the economy does not seem to be able to regain altitude but instead crashes directly into recession.

Which means it’s time to come to terms with the fact that recession 2.0 (or was it ever really a recovery?) is on its way whether you like it or not:

At the current (Q2) rate of 1.6% yoy GDP growth, my fellow bear (realist?), David Rosenberg at Gluskin Sheff, points out in the chart below that a US recession is almost certainly a done deal (never say certain, as in 1956, when recession was temporarily averted for all of nine months). But with this sort of record the onus is now on the optimists to demonstrate why on earth they still believe in a second-half recovery and growth in 2012.

Now, anyone who bought into the dulcet tones of the bullish brigrade is likely to do very badly. A fact which will come as hubris. In Edwards’ opinion if you were dumb enough to listen to that story, well… you reap what you sow:

And in the same way that a country is said to get the government it deserves, I believe the market gets the macro commentators it deserves: i.e. perpetually bullish analysts, taking no personal risk with their never-ending consensus chatter.

After all it was always pretty obvious what was going to happen.

It was just a question of when, rather than if:

Put into its proper Ice Age context, the events of the past decade are entirely explicable. As we see a short-lived economic recovery failing only two years into the cycle and a plunge back into recession, we remind investors that this was exactly the Ice Age template that Japan showed us. A fragile recovery undermined by private sector deleveraging collapses as a semi-bankrupt government tries to rein in runaway deficits.

What next? Well, it’s Ice Age 3.

Here’s how it goes and this is very much of the moment (especially if you are a London resident):

We are now entering the third phase of the Ice Age when another cyclical failure combines with a secular de-rating of equities and re-rating of government bonds. I and many others have been pointing out for a long time now the simple fact that the global economy has been living way beyond its means for years. A massive transfer of income to the very rich has occurred while middle class real incomes stagnated. The middle classes only tolerated this because Central Bankers created housing booms to keep the impoverished middle classes borrowing and spending to give them the illusion of prosperity and stop them from revolting.

I believe the Fed and Bank of England, in particular, were wholly complicit in this ‘daylight robbery’ (see link). These unsustainable private sector, debt mountains were transferred to the public sector in 2008 to prevent the adjustment to the depression-era reality that the debt unwind would undoubtedly have brought about. Yet, those debts are as unsustainable in the hands of the public sector as they were in the private sector.

Central bank polices haven’t changed though. Print and print and print. And if that doesn’t work, print some more. And as London burns, the point I have always made is that the US and UK are not like Japan in one very special way. Although Japan suffered a decade of pain it is a very homogenous, equal society. The UK and US are not. Some readers may not know that rioting and looting has broken out around London. While I hear the UK politicians denounce the looters as common criminals (which of course they are), I can’t help but think that Louis XVI in 1789 and Tsar Nicolas II in 1917 might have said the same thing.

Crikey,

Here comes the revolution. Prepare.’

 

 

 

Fed Move, Pavlovian Market Response: Reactions  The Wall Street Journal  Mark Gongloff  ‘Paul Krugman scoffs at the Fed-fueled rally:

The Fed didn’t announce a new policy. And despite what some press reports said, it didn’t even commit to keeping rates low; all it did was say that if the economy stays weak, rates will stay low — well, duh — and that it might think about doing other stuff one of these days.

Durden is amazed:

Following a 600 point plunge in the DJIA yesterday, today we see a 400 point surge following the presentation of the weak case of the expected Bernanke Put. And completing the amazement, the 10 Year bond, moved to almost record lows, and then retraced virtually the entire move, as nobody knows what central planning has in store for America any longer. Additionally, after being up 50%, VIX is now down 22%. Congratulations Ben: in taking central planning to nth double-down levels, you have now broken not only the stock, but the bond market as well…’

 

 

Faber's Pessimism on the U.S. Downgrade  08/09/2011 By EconMatters: Markets saw the worst day since the 2008 financial crisis on Monday, August 8th, the first trading day since Standard & Poor's downgraded the United States' credit rating. Under the weight of a possible twin crisis in Europe and in the U.S., Dow Jones industrial plunged 634 points. Stocks have lost 15% of their value in just two and a half weeks. On a day like this, who else other than Marc Faber, publisher of the Gloom, Boom & Doom report, would be more appropriate to appear on Bloomberg to talk about the aftermath of the U.S. debt downgrade... Faber indicates a bear market already started on May 2, 2011…’

 

 

 

The 10 Most Indebted Governments in the World   http://wallstcheatsheet.com/stocks/the-10-most-indebted-governments-in-the-world.html ‘…Coming in first place is Japan (NYSE:EWJ), with a whopping $13.795 trillion in debt, just short of the the $14.27 trillion in debt the U.S. carries .. Coming in second against Japan in terms of its debt-to-GDP ratio is Greece, where debt is a relatively low 139% of GDPHot Feature: Who Owns U.S. Debt? Following Greece on the list is Italy (NYSE:EWI), then Iceland, Belgium, Ireland, and the U.S. So why isn’t Japan enduring the same kind of financial crisis that so many countries with significantly less debt are currently facing? The answer is simple: Japan owes most of its debt to itself. In comparison, the U.S. owes about 30% of its debt to foreign investors, with China (NYSE:FXI) holding $1.1 billion in U.S. debt, more than any other country…’

 

 

 

Fear Index VIX Up 50%, And In Backwardation, Confirms Fully Fledged Bear Market Volatility slapped markets in the face on Monday, surging 50% in its biggest one-day move since February 2007.  Furthermore, the whole VIX futures curve has been inverted and is in backwardation, indi...

 


 

The Entire World Is Going Bear Market Business Insider | A scary aspect of this selloff: There’s nowhere safe.




8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse | Are you ready for part two of the global financial collapse? When we examine this “deal” that way, what does it look like? The Economic Collapse Aug 9, 2011 ‘Are you ready for part two of the global financial collapse?  Many now fear that we may be on the verge of a repeat of 2008 after the events of the last several days.  On Friday, Standard & Poor’s stripped the U.S. government of its AAA credit rating for the first time in history.  World financial markets had been anticipating a potential downgrade, but that still didn’t stop panic from ensuing as this week began.  On Monday, the Dow Jones Industrial Average dropped 634.76 points, which represented a 5.5 percent plunge.  It was the largest one day point decline and the largest one day percentage decline since December 1, 2008.  Overall, stocks have fallen by about 15 percent over the past two weeks.  When Standard & Poor’s downgraded long-term U.S. government debt from AAA to AA+, it was just one more indication that faith in the U.S. financial system is faltering.  Previously, U.S. government debt had a AAA rating from S&P continuously since 1941, but now that streak is over.   Nobody is quite sure what comes next.  We truly are in unprecedented territory.  But one thing is for sure – there is a lot of fear in the air right now.So exactly what caused S&P to downgrade U.S. government debt?Well, it was the debt ceiling deal that broke the camel’s back.According to S&P, the debt ceiling deal “falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics.”As I have written about previously, the debt ceiling deal was a complete and total joke, and S&P realized this.Forget all of the huge figures that the mainstream media has been throwing at you concerning this debt ceiling deal.  The only numbers that matter are for what happens before the next election.The only way that the current debt ceiling deal will last beyond the 2012 election is if Obama is still president, the Democrats still control the Senate and the Republicans still control the House.  If any of those things change, this deal ceiling deal is dead as soon as the election is over.Even if all of those things remain the same, there is still a very good chance that we would see dramatic changes to the deal after the next election.So in evaluating this “deal”, the important thing is to look at what is going to happen prior to the 2012 election.Well, Barack Obama and the Democrats get the debt ceiling raised by over 2 trillion dollars and will not have to worry about it again until after the 2012 election.The Republicans get 25 billion dollars in “savings” from spending increases that will be cancelled.The “Super Congress” that is supposed to be coming up with the second phase of the plan may propose some additional “spending cuts” that would go into effect before the 2012 election, but that seems unlikely.So in the final analysis, the Democrats won the debt ceiling battle by a landslide.25 billion dollars is not even 1 percent of the federal budget.  The U.S. national debt continues to spiral wildly out of control, and our politicians could not even cut the budget by one percent.Somehow our politicians believed that the rest of the world would be convinced that they were serious about cutting the budget, but it turns out that global financial markets are tired of getting fooled.It has gotten to the point where now even the big credit rating agencies are being forced to do something.  Not that they really have much credibility left.  Everyone still remembers all of those AAA-rated mortgage-backed securities that imploded during the last financial crisis.  The reality is that the big credit rating agencies are a bad joke at this point.Several smaller credit rating agencies have already significantly slashed the credit rating of the U.S. government.  But a lot of pressure had been put on the “big three” to keep them in line.But now things have gotten so ridiculous that S&P felt forced to make a move.Sadly, our politicians are still trying to maintain the charade that everything is okay.  Barack Obama says that financial markets “still believe our credit is AAA and the world’s investors agree”.Once again, Barack Obama is dead wrong.The truth is that the credit rating for the U.S. government should have been slashed significantly a long time ago.  This move by S&P was way, way overdue.Moody’s might be the next one to issue a downgrade.  At the moment, Moody’s says that it will not be downgrading U.S. debt for now, but Moody’s also says that it has serious doubts about the enforceability of the “budget cuts” in the debt ceiling deal.This crisis is just beginning.  It is going to play out over time, and it is going to be very messy.The following are 8 more reasons why you should be deeply concerned that the U.S. government has lost its AAA credit rating….

#1 The U.S. dollar and U.S. government debt are at the very heart of the global financial system.  This credit rating downgrade just doesn’t affect the United States – it literally shakes the financial foundations of the entire world.

#2 As the stock market crashes, investors are flocking to U.S. Treasuries right now.  However, once the current panic is over the U.S. could be faced with increased borrowing costs.  The credit rating downgrade is a signal to investors that they should be receiving a higher rate of return for investing in U.S. government debt.  If interest rates on U.S. government debt do end up going up, that is going to make it more expensive for the U.S. government to borrow money.  The higher interest on the national debt goes, the more difficult it is going to become to balance the budget.

#3 We could literally see hundreds of other credit rating downgrades now that long-term U.S. government debt has been downgraded.  For example, S&P has already slashed the credit ratings of Fannie Mae and Freddie Mac from AAA to AA+.  S&P has also already begun to downgrade the credit ratings of states and municipalities.  Nobody is quite sure when we are going to see the dominoes stop falling, and this is not going to be a good thing for the U.S. economy.

#4 10-year U.S. Treasuries are the basis for a whole lot of other interest rates throughout our economy.  If we see the rate for 10-year U.S. Treasuries go up significantly, it will suddenly become a lot more expensive to get a car loan or a home loan.

#5 The current financial panic caused by this downgrade is hitting financial stocks really hard.  The big banks led the decline back in 2008, and it looks like it might be happening again.  Just check out what CNN says happened to financial stocks on Monday….

Financial stocks were among the hardest hit, with Bank of America (BAC, Fortune 500) plunging 20%, and Citigroup (C, Fortune 500) and Morgan Stanley (MS, Fortune 500) dropped roughly 15%.

#6 China is freaking out. China’s official news agency says that China “has every right now to demand the United States to address its structural debt problems and ensure the safety of China’s dollar assets”.  If China starts dumping U.S. government debt that would make things a lot worse.

#7 There are already calls for the Federal Reserve to step in and do something.  If the U.S. economy drops into another recession, will we see more quantitative easing?  It seems like we have reached a point where the Fed is constantly in “emergency mode”.

#8 The U.S. national debt continues to get worse by the day.  Just check out what economics professor Laurence J. Kotlikoff recently told NPR….

“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap”

Dick Cheney once said that “deficits don’t matter”, but the truth is that all of the debt we have been piling up for decades is now catching up with us.The United States is in such a huge amount of financial trouble that it is hard to put into words.  The days of easy borrowing for the U.S government are starting to come to an end.  We have been living in the greatest debt bubble in the history of the world, and it has fueled a tremendous amount of “prosperity”, but now the party is ending.

A whole lot of financial pain is on the horizon.  Please prepare for the hard times that are coming.’


 

Don't Fall For The Market's Head Fakes at Forbes David Trainer ‘The mar­ket decline expe­ri­enced thus far is closer to its begin­ning rather than its end. Tuesday’s refresh­ing mar­ket rise was likely just a flash in the pan.

There is noth­ing that politi­cians or reg­u­la­tors can do to pre­vent the nat­ural price dis­cov­ery that is crit­i­cal to the long-term health of our cap­i­tal­ist system.

The mar­ket needs to go down again before it can sus­tain any future rise.

We sim­ply must deal with the loads of toxic and mis-allocated cap­i­tal that our prof­li­gate soci­ety has cre­ated over the past 20+ years.

Allow me to explain how we got our­selves in this sit­u­a­tion. The figure below high­lights the three suc­ces­sive stock mar­ket bub­bles in just over 10 years. Com­pare the size of these bub­bles and the rise in stock prices over the last 25 years com­pared to the prior 65 years. A sim­ple trend­line fur­ther accen­tu­ates just how much stock prices have appre­ci­ated com­pared to his­tor­i­cal trends.

Fig­ure 1: His­tor­i­cally Enor­mous Stock Mar­ket Bub­bles Keep Com­ing Back

http://blog.newconstructs.com/wp-content/uploads/2011/08/figure1.jpg

Sources:   New Con­structs, LLC and Ibbot­son Ibbot­son, 2010 Ibbot­son Stocks, Bonds, Bills and Infla­tion Val­u­a­tion Year­book, (Chicago: Morn­ing Star, 2008), 228–229. *Large Cap Stocks as defined by Ibbot­son are the best com­par­i­son for the S&P 500, which did not exist as it does today in 1926.

I am not sug­gest­ing that stock prices should revert to the long-term trend­line. I fully appre­ci­ate the accel­er­at­ing pace of inno­va­tion real­ized by our soci­ety and its impact on stan­dards of liv­ing and improved uti­liza­tion of resources.

There is no ques­tion that we live in unprece­dented times of pros­per­ity and wealth cre­ation. And tech­nol­ogy holds great promise for the future achieve­ment of mankind and will drive improve­ment in the stan­dards of liv­ing around the world.

The prob­lem is that we have got­ten ahead of our­selves. By how much, I am not sure. But I am sure that we are due a (last­ing) cor­rec­tion in the stock mar­ket, and the longer that cor­rec­tion is put off, the more painful it will be.

To illus­trate, let’s review what drove the last two mar­ket bubbles.

  1. Tech bub­ble – irra­tional exu­ber­ance about the value in tech stocks com­bined with rather loose mon­e­tary pol­icy pushed stocks and cap­i­tal flows to ridicu­lously high levels
  2. Hous­ing bub­ble – lax lend­ing stan­dards, unscrupu­lous bankers, con­flicted reg­u­la­tors, a bot­tom­less appetite for con­sumer spend­ing and a seem­ingly infi­nite amount of cheap money to finance consumption.

Now, let’s review what hap­pened after these bub­bles burst.

  1. After the tech bub­ble: mon­e­tary pol­icy remained highly accom­moda­tive and gov­ern­ment stim­u­lus was aplenty
  2. After the hous­ing bub­ble: mon­e­tary pol­icy remained highly accom­moda­tive and gov­ern­ment stim­u­lus was aplenty

See the response pat­tern? See how it affected the markets?

It is as if the bub­bles never burst. Game back on. Like a high-school party, the music stops and every­one is quiet when the cops show up. Some­one con­vinces the cops that noth­ing unscrupu­lous is going on and all will be calm and qui­et. Then, as soon as the cop car is out of sight, the music gets turned back on and the party goes harder.

What will be the response to the third bub­ble that is forming?

That is the ques­tion that I think the mar­ket is finally fac­ing. The answer is not the same as before.

The gov­ern­ment has run out of stim­u­lus and pol­icy bullets.

Really, what else can politi­cians and reg­u­la­tors do to engi­neer a soft land­ing, or should I say, another bub­ble.

Figure 1 shows that we never really landed. We rocketed from one bubble to the next.

Let’s take a look at the options avail­able via the two main forces for stim­u­lat­ing eco­nomic recovery:

  1. Fis­cal pol­icy – given the fed­eral, state and munic­i­pal debt and bud­get prob­lems, another round of stim­u­lus spend­ing or another TARP-like pro­gram is prob­a­bly not in the cards. The funds are sim­ply not avail­able. Not to men­tion, I do not think another bailout plan would go over very well with tax-payers.
  2. Mon­e­tary pol­icy – here we have three poten­tial options.
    1. Lower rates – can they go any lower? The answer is not mean­ing­fully lower unless the Fed­eral Reserve wants neg­a­tive nom­i­nal rates. In addi­tion, low inter­est rates under­mine long-term eco­nomic growth poten­tial.
    2. Extend QE2 to QE3 – given that the point of QE2 was to keep inter­est rates, espe­cially mort­gage rates low, I do not think addi­tional quan­ti­ta­tive eas­ing in the form taken so far would have much if any impact on rates given how lower they already are. More­over, dri­ving oil and other com­mod­ity prices higher by fur­ther under­min­ing the value of the dol­lar is not exactly con­ducive to growth.
    3. A new type of QE3 – sup­pose the Fed were to pur­chase large amounts of assets other than trea­suries such as fore­closed homes. I think that action would likely spook investors because it would sig­nal that the car­ry­ing value of those homes were too high. Oth­er­wise, pri­vate investors would have already bought them for their own port­fo­lios. And bank stocks would sink as investors real­ize that addi­tional write-offs might be com­ing. The same reac­tion applies to any other asset that the Fed might choose to take off pri­vate investors’ hands.

So, who is going to bail us out this time?

My over­rid­ing mes­sage is that no one should have bailed us out to begin with. The longer we avoid the painful process of delever­ag­ing and return­ing to a more delib­er­ate and ratio­nal mode of cap­i­tal allo­ca­tion, the more we delay the inevitable. The more we shift the blame for our finan­cial mis­takes to the pub­lic sec­tor, the deeper the hole we must dig out of.

Which brings me to the next point: shift­ing respon­si­bil­ity to the pub­lic sec­tor, i.e. gov­ern­ment, presents some very seri­ous prob­lems and head­winds for future growth:

  1. The gov­ern­ment is not bail­ing any­one out, tax­pay­ers are. In essence, the gov­ern­ment is using hard-earned tax rev­enue to pay for the mis­takes of cer­tain mem­bers of our society.
  2. Moral haz­ard is con­fused with moral oblig­a­tion. Re-distribution of wealth to those that are in gen­uine need of assis­tance from soci­ety is in our long-term best inter­ests. But moral oblig­a­tion quickly becomes moral haz­ard when the re-distribution applies to peo­ple who should, but pre­fer not to, care for themselves.
  3. When the peo­ple who make mis­takes do not pay for mis­takes, they keep mak­ing them…bigger and big­ger. Can you say “mort­gage back securities”?
  4. We run out of money. When cap­i­tal from pro­duc­tive sources is siphoned away to sub­si­dize unpro­duc­tive invest­ments, cap­i­tal is destroyed and never to be found again. When there is less cap­i­tal avail­able for pro­duc­tive invest­ments, growth is forced to slow as are incomes and payrolls.
  5. When growth slows and jobs are not avail­able, bad things hap­pen. For an exam­ple of bad things happening now, take a look at the riots in the streets in Lon­don.

Until we allow the nat­ural price dis­cov­ery that unfet­tered mar­kets are designed to pro­vide, we con­tinue to sub­si­dize unpro­duc­tive invest­ments. And the longer we sub­si­dize unpro­duc­tive invest­ments, the more wealth (and jobs) we destroy in the present and in the future.

Sure, it feels bet­ter when the stock mar­ket sky­rock­ets, bank accounts are fat, growth is strong and the finan­cial future is bright. Wasn’t that what we got in the 1990s, then again in the first decade of this century?

It can­not go on for­ever. Con­sider how much the hous­ing bub­ble was dri­ven by too much bor­row­ing? Though financ­ing might be cheap and easy to get for extended peri­ods of time, there is not an infi­nite supply.

At its core, bor­row­ing is sim­ply a method of cash­ing in today on future earn­ings. The more we bor­row against future earn­ings, the less we have in the future.

Using bor­rowed funds to sub­si­dize unpro­duc­tive invest­ments only com­pounds and accel­er­ates wealth destruction.

Key­ne­sian poli­cies can be suc­cess­ful in cer­tain sit­u­a­tions and for lim­ited amounts of time, but they can­not be sus­tained infi­nitely. Bor­row­ing and spend­ing by the gov­ern­ment can help the econ­omy sur­vive a soft patch or decrease the depth of a reces­sion, but it does not fix the under­ly­ing cap­i­tal allo­ca­tion problem.

Key­ne­sian eco­nomic poli­cies are patches to eco­nomic prob­lems, not fixes. If extended for too long, they only make mat­ters worse.

Before the hous­ing bub­ble, the gov­ern­ment was lev­ered to the hilt. After the hous­ing bub­ble, con­sumers are also lev­ered to the hilt. Both are strug­gling to bal­ance their checkbooks.

So who is left to bail us out? Only two potential candidates: Amer­i­can cor­po­ra­tions and for­eign countries.

A quick sur­vey of the sta­tus of the other major eco­nomic pow­ers is not exactly inspir­ing. China is slow­ing growth to fight its infla­tion prob­lems. The Euro­pean Unions, well, they have their own prob­lems. Japan is not exactly pros­per­ing. In gen­eral, there are few, if any, global eco­nomic bright spots. None are large enough to bail out any­one.

There are many bright spots in cor­po­rate Amer­ica. Com­pa­nies like Apple (AAPL-very attrac­tive rat­ing), Google (GOOG-very attrac­tive rat­ing), Microsoft (MSFT-very attrac­tive rat­ing) and many oth­ers are as prof­itable as ever. Their returns on cap­i­tal rank among the very best in the world. They are shin­ing exam­ples of cap­i­tal real­iz­ing its high­est and best use. For the coun­try as a whole, cash flow returns on assets are near all-time highs. Much of the recent prof­its, how­ever, have come at the expense of the con­sumer as wages have grown much more slowly than profits.

Then, there are the banks. US banks recently enjoyed the largest bailout in the his­tory of the world. Fur­ther, their profit mar­gins have been sub­si­dized by sus­tained low inter­est rates. And yet, they are lend­ing lit­tle money.

Is the prob­lem that banks do not want to lend or that there are not enough borrowers?

I think the answer is both. Many banks are still car­ry­ing a great deal of toxic assets. With so much risk already on their bal­ance sheet, they can­not afford to take on more.

As for bor­row­ers, the uncer­tain tax, reg­u­la­tory and eco­nomic out­looks are not exactly entic­ing entre­pre­neurs, small and large busi­nesses to take risk.

To sum­ma­rize, there is no one left to bail us out this time.

So, what hap­pens next? We buckle down and face the long hard road to true, not arti­fi­cially sub­si­dized recovery.

We rec­og­nize facts:

  1. We can­not spend more than what we make for­ever. Seems like an obvi­ous state­ment, but that is not how the United States has oper­ated over the past sev­eral years.
  2. We have wasted lots of cap­i­tal by sub­si­diz­ing unpro­duc­tive investments.
  3. We have delayed the process of cre­ative destruc­tion whereby unpro­duc­tive invest­ments are replaced by pro­duc­tive investments.
  4. Because of our waste­ful­ness and the delay in cre­ative destruc­tion, much time is required to restore wealth back to the lev­els to which we have become accustomed.
  5. We must rebuild dili­gently, ratio­nally and delib­er­ately to ensure cap­i­tal real­izes its high­est and best use.
  6. Kick­ing the can down the road, Euro-style, only delays the inevitable and makes the prob­lem worse.
  7. Even­tu­ally, we will be much bet­ter off than what we started.

In the mean­time, the stock mar­ket and eco­nomic activ­ity will con­tinue to suf­fer. No pain no gain.’

 

 

Stock Market Slide Is the Latest Blow to the Middle ClassThe Daily Ticker  Peter Gorenstein ‘Stocks resumed their decline on Wednesday -- the third big drop in the last five trading days. The Dow Jones Industrial Average closed down 520 points, or 4.6%. The S&P 500 fell 4.4% to close at 1,121, while the Nasdaq was taken down more than 101 points to the end the day at 2,381.In other words, Tuesday's gains, in which the Dow jumped 430 points, are a distant memory.Stocks are on track for their worst monthly drop since after the Lehman Brothers bankruptcy in the fall of 2008. After making steady gains in their 401(k) plans since then, average Americans are once again falling further behind on their retirement goals. The recent drop in the market is making headlines, but as Aaron Task and the Breakout team discuss in this clip, it's by no means the only economic hardship facing the middle class -- it's just the latest. Here are some other headlines you might have missed while you were watching your portfolio shrink over the last few days.

HORRIFIC HOUSING MARKET

Existing home sales fell 2.8% in the second quarter compared to a year ago, according to the National Association of Realtors. The number of home sales is also off, falling 5.4% from the previous quarter and is down almost 13% compared to the sometime last year. At this rate the housing market will continue to be a drag on the economy.

BACKDOOR BAILOUT FOR BANKS

Meanwhile, as homeowner pain reaches new heights, it appears banks continue to receive favorable treatment from the government. The Wall Street Journal reports Fannie Mae -- essentially a government entity (that by the way continues to receive billions in taxpayer aid each quarter) -- just spent $500 million to buy the servicing rights to a Bank of America (BAC) portfolio of "seven million loans still causing the most problems." That's what they call a backdoor bailout.Speaking of Bank of America, the stock continued to mirror the pattern of steep sell-offs and furious rallies seen in the broader market. This time, shares of BofA were down 10.9% to $6.77. A conference call held by CEO Brian Moynihan with investors, led by Fairholme's Bruce Berkowitz, didn't help the bank's cause. According to a summary of the call in the WSJ, Moynihan pushed back against those who would question how he has performed while leading the company, and he said BofA would not part ways with brokerage firm Merrill Lynch. Additionally, he said there weren't "many days when I get up and think positively about the Countrywide transaction in 2008."BofA bought the big mortgage firm during the 2008 credit crisis, and it has been responsible for a gigantic financial drag on the firm in the time since.

FED'S FOLLY

The Federal Reserve on Tuesday said it will keep interest rates "exceptionally low" through the middle of 2013. That and the possibility of more quantitative easing may eventually reflate assets -- a good thing for stock portfolios. The problem is the Fed's reaction to the crisis has and will continue to do little to improve real economic conditions, such as stubbornly high unemployment, which remains at 9.1% more than two years after the financial crisis. And, for those able to save some money, the low interest rates aren't rewarding your bank accounts. Add it all up, and unfortunately there's little to feel good about.’

 

 

Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go … the retaliation … the long awaited payback (quid pro quo -the no pros- witheld) for long overdue pervasively corrupt, defacto bankrupt u.s. downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities.  SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!

 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 


http://www.albertpeia.com 

 

 

 

Sincerely and Regards,

 

Al Peia




 

Unions angry over Postal Service cuts They said any move to break labor contracts to lay off 120,000 would hurt the already ailing movement. (Washington Post) [ I reiterate my call for the well managed, efficient, and reliable company, UPS to take over the operation of the poorly managed, inefficient, and unreliable USPS. Postal Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it’s a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable: 
October 15, 2010 (*see infra {ultimately delivered by UPS})

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 



 

 

Five myths about the Dow What drives it up and down? Is it a good market barometer? (Washington Post) [ Yeah! This is a great topic which seems an age-old quandary manifesting in different forms at different times. Indeed, in my evening MBA program studies at NYU, GBA (MBA Finance, 1977) the ‘questions’ concerning the Dow from an investment perspective were in no short supply (ie., from not being representative of the market, to higher p/e multiples, to slower growth from mature companies, to higher prices per share on an absolute basis, etc.). When asked why the Dow, the Security Analysis Professor, Dr. Douglas Bellmore, an extremely successful analyst / investor / author on finance in his own right, and head of the research arm / department of an institutional wall street brokerage firm by day, would respond simply by saying, ‘ he wasn’t interested in ‘buying the market’ (cited were concerns of liquidity with his oft-repeated rhetorical quip, ‘sell … to whom?’, which was often problematic to the substantial downside then, particularly for Nasdaq / Over-the-counter’ issues which is far less problematic today with computer efficiency undreamed of then (though also now used for nefarious fraudulent purposes undreamed of then)[ I began my MBA thesis with him and completed same owing to his vacation in the summer, 1977, with the great, eloquent, and astute Economist / Professor, Dr. Robert Kavesh (‘Economic Forecasting’ Butler and Kavesh – I had his course of the same name as his book) since I was beginning law school evenings that fall. ] ( Interestingly, in the bond analysis portion of the course I asked whether you can and should rely on the rating companies, predominantly S&P. He paused, and said ‘that’s a good question’ – it was also the only time he said such of my questions – then responded affirmatively, ‘yes, you can rely on them’ (different time, different place – I’m sure his answer would have been substantially different today). The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! So what’s changed of significance (other than the full moon and consequent effects on the lunatic wall street frauds Train Reading: The Stock Market Is Insane The Wall Street Journal 



 

GE ‘all in’ on aviation deal with China  Challenge of China: Put technology on the table — and keep some U.S. jobs — or miss the huge market. (Washington Post) [ ‘Lotta weighin’ goin’ on! Riiiiight! Don’t make me laugh! Is China Bad For The US Job Market? at Forbes [ Duh! Ya think. Come on! Even rhetorically there’s no real question here. There’s no upside nor room for discussion on this point. Even when thinking they’re buying american, ie., apple, etc., they’re buying Chinese, Korean, Japanese, etc. (components); and yet, american tech is still absolutely horrendous. And, let me add that the communist Chinese are far from brilliant; one need only witness that Chinese leader standing with ‘lobotomy joe biden’ assuring all they’ll be no default … double duh! … as pervasively corrupt, defacto bankrupt america’s printing those evermore worthless dollars at warp speed. What dopes they are! Yes, like the bureaucratic plutocracy americans the communist Chinese whose success is measured in capitalistic terms are getting dumber and dumber like ‘their american fiances’. ] Has China single handedly destroyed the U.S. job market? [Not china, but rather those geniuses at the cia, nsa, corporate execs, the bushes/poppy-san the former communist Chinese ambassador and that strategic ‘engagement’ thing. Wake up … smell the b***s***, not roses! ]


 

 

Rep. Waters to tea party: ‘Go straight to hell’  (Washington Post) [  Drudgereport: SANTORUM: 'maxine waters is vile' [ she’s worse than that, and a total embarassment for america and california particularly! ] ...
Maxine Waters: 'The tea party can go straight to hell'...

Tea Party fires back...
MORGAN FREEMAN TELLS OBAMA TO 'GET PISSED OFF' [ sounds like a plan … ****** to ****** … the ****** plan! ] ...
Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...
Philadelphia extends curfew after flash mobs [ new u.s. Christmas carol – ‘america’s beginning to look a lot like sub-saharan africa, everywhere you go’ . They are beasts of burden at most who are a burden to most at best  … you’ll never change them … Think about all those costly ‘make-work’ jobs that serve no real economic purpose; ie., federal, state, local, uspostal service, etc.. And, they can’t even do those jobs reliably, efficiently, effectively which is a drag on civilized society! ] ...

 

 

Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.

Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ]New low of 26% approve of Obama on economy...
Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

 

Even that italian, belafonte, isn’t buying ‘wobama brand(ed)’:

 

Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 

 

 

 


European bank continues bond-buying It has become the region’s “last resort” investor as it tries to keep a lid on the rates paid by Italy, Spain.  (Washington Post) [ Nothing succeeds quite like failure in the ‘new west’. From people-killing, nation-bankrupting, nation-destroying perma wars to QE’s to gimmicks to ‘warp speed’ currency printing presses, the lock-step rush for the abyss like lemmings they’ve become. Never mind that across the board, such as the aforementioned has actually exacerbated the crisis / problems they were supposedly meant to solve. This truly has become a ubiquitous scenario of the blind leading the blind; with the blindest of all, viz., pervasively corrupt – defacto bankrupt america, leading the charge (no pun intended – though their credit bears mentioning  - 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse ‘…  #8 The U.S. national debt continues to get worse by the day.  Just check out what economics professor Laurence J. Kotlikoff recently told NPR….“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap” ..’   Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’). !  Italy unveils plan to calm fears of escalating crisis  (WP) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ ] 

 



As investors panic, CEOs vote with their wallets for local companies August has seen a historic uptick in the number of corporate insiders buying shares of their companies. (Washington Post) [ I’m now sorry I didn’t save the article that spoke to this recent phenomena as being contraindicated and not a good sign but rather merely a function of some recent fine print in new compensation plans constrained by current and expected poor financial / economic results. Indeed, of greater import is as pointed out by Navin just months ago: Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher. Yes, it’s normal for insiders to be selling some of their stocks so they can buy new yachts and some of this is pre-planned. But that ratio — which has spiked recently — is extraordinarily high, one might even say off-the-chart   The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!  Train Reading: The Stock Market Is Insane The Wall Street Journal ,  Accounting Gimmics Resurface as Growth Flounders at TheStreet ‘Rebekah Smith, director of financial advisory services at accounting and consulting firm GBQ consulting, says accounting tricks and schemes are likely to start unraveling as we head into 2012 and the lag effect catches up. "The typical accounting fraud goes on for about 18 to 26 months before it is uncovered. The frauds that took place in 2009 are not going to surface until later in 2011 or into 2012." ‘  ,  Morgan Stanley Biggest Welfare Recipient as Federal Reserve Lent Banks $1.2 Trillion During Financial Crisis Wall St. Cheat Sheet  ,  Minyanville's T3 Daily Recap: Market Gives Back Weekend Gains Amid US Bank Woes at Minyanville’  ,  Social Security disability on verge of insolvency     ,  8-19-11  Welcome To The New Bear Market For Stocks  Forbes / Suttmeier ,  Dow/Gold Ratio Lowest Since 1987 Crash   Forbes /  Adrian Ash  ,   Ignore Buffett's Advice, Don't Buy Stocks Forbes /  Dohmen , The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  Tech Leading Market Lower The Wall Street Journal  ,  Banks closed in Fla, Ga, Ill; 2011 total is 68   ,   No Recession Coming ... It's Already Here  Previous:8-18-11 Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says    Crimes Wrecked The Markets    ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data at Forbes  ,  HP, Dell hammered as tech-spending outlook darkens   JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade   Dell braces investors for a bumpy road Dell makes a case on why it can better weather an upcoming storm  ,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    Famed economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence

 

 

Oil prices and Gaddafi’s potential fall? Any new Libyan government will need crude revenues, but analysts warn against premature optimism. (Washington Post) [ Premature optimism? How ‘bout total unreality owing to the over-printed, ever more worthless so-called reserve currency, viz., the ‘dollar’. The ‘dow / gold’ ratio is illustrative of this reality-based problem which extends as well to those heavily commissioned / traded paper shares.  A Decade of Decline in Equity Markets Faisal Humayun [ This is a must read and explains how the market’s been artificially propped, the dow relative to hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was trading at 11,357 levels at the beginning of the year 2000. More than a decade later (as of beginning July 2011), the index is at 12582 (8-22-11/now 10885). Therefore, the index has gained 11% (8-22-11/now lost 10+%) in the last ten years…’ Yet, the inflationary dollar (declining) debasement rate was 31%. (-31%) {See the inflation calculator infra – and that’s just the government (inflation) numbers … reality is much worse!} Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before at lightning computerized speeds enabling the high-frequency trades that are commissioned in unprecedented large volumes; a big net negative in real economic terms.] Just another gimmick / diversion / obfuscation: The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!  Train Reading: The Stock Market Is Insane The Wall Street Journal ,  Accounting Gimmics Resurface as Growth Flounders at TheStreet ‘Rebekah Smith, director of financial advisory services at accounting and consulting firm GBQ consulting, says accounting tricks and schemes are likely to start unraveling as we head into 2012 and the lag effect catches up. "The typical accounting fraud goes on for about 18 to 26 months before it is uncovered. The frauds that took place in 2009 are not going to surface until later in 2011 or into 2012." ‘  ,  Morgan Stanley Biggest Welfare Recipient as Federal Reserve Lent Banks $1.2 Trillion During Financial Crisis Wall St. Cheat Sheet  ,  Minyanville's T3 Daily Recap: Market Gives Back Weekend Gains Amid US Bank Woes at Minyanville’  ,  Social Security disability on verge of insolvency      While Washington Fiddled The Economy Burned at Forbes  http://www.albertpeia.com/inflationcalculator.htm  http://www.albertpeia.com/wobamavoters.gif

 

 

Ahamed: What is the market really telling us?  (Washington Post) [ Whatever it is, it ain’t good! Indeed, ‘the market’ in terms of communicating anything must fall within the ambit of the term ‘brain-damaged’ at best, insane at worst, with all the concomitant disabilities attendant thereto, including a penchant for criminal, fraudulent activities to obfuscate in self-interested fashion the damage attendant to their criminally insane, brain-damaged condition for their own gain to almost everyone else’s detriment.  ‘THE STOCK MARKET HAS LOST ITS MIND — Bethany McLean in Slate Risk On! Do the Fed, computer trading, and a few hedge funds rule the market? That might explain why it's lost its mind. After the madness of last week and the rollercoaster at the beginning of this week, the stock market recovered from its Aug. 10 rout to bounce 423 points on Aug. 11. It was the fourth day in a row in which the index moved by more than 400 points, which has never happened before in history. As I write this, stock prices are leveling off, but the big swings may not be over. Has the market gone mad? Actually, yes....’

 

 

 

 

Dow jumps 4 percent as markets rebound A volatile day on Wall Street ends with a last-minute rally that pared some of Monday’s historic losses and shrugged off an uncertain outlook from the Fed.  (Washington Post) [ ‘Shrugged off’? So that’s what those lightning fast computer manipulated buy programs are for. Who woulda’ thunk it? After all, it’s not as if ‘Atlas Shrugged’ in this decimated, collapsing economy of this pervasively corrupt, defacto bankrupt american nation / economy. Oh pshaw … that was just fiction; ask former ‘objectivist’ Ayn Rand afficionado ‘senile alan greenspun’ who recommends gettin’ those Weimar dollar printing presses rollin’ at warp speed which has in large part helped to get the nation rollin’ to this forlorn point. Well, ‘senile alan greenspun’ can always say he was really meant to be that ‘cobol programmer’ that he was and was meant to be.   The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! What changed from yesterday which warranted a more than 600 point plunge with paper stocks still over-valued and a 545 bounce off of afternoon lows? Nothing! Absolutely nothing, yet a manipulated computer-programmed churn-and-earn suckers’ rally based on fraud and b***s*** alone to keep suckers suckered, which makes for an especially great opportunity to sell / take profits since there’s much, much worse to come! Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com)

 

 

AAII Sentiment Survey: Investors Remain Averse to Stocks Wall St. Cheat Sheet 

 

 

 

Train Reading: The Insider-Buying Lie - Mark Gongloff

Not all insider buying is created equal — Reformed Broker

Is there enough money to save the world’s banks? — Jonathan Weil at Bloomberg

Warren Buffett is issuing bonds and buying stocks — Fortune

US births declined in 2010 — Calculated Risk

Efficient markets in action — Paul Krugman

Consumers now need Treasury approval on all purchases over $50 — The Onion

 

 

Report: Mutual Fund Outflows In July Most Since End Of 2008 at Barrons.com 

 

Is debt downgrade an alarm bell for U.S.?   (Washington Post) [ Do bears s*** in the woods? Is the Pope Catholic? Is this question some kind of a joke? I mean, duh! Ya think? I mean, if it isn’t, what could be? After all, this was long in the making and the pressures applied to preclude this long overdue downgrade were substantial. Yet, this mild slap on the wrist was at once, charitable and a gift inasmuch as reality warrants far worse.  8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse ‘…  #8 The U.S. national debt continues to get worse by the day.  Just check out what economics professor Laurence J. Kotlikoff recently told NPR….“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap” ..’    Previous: Is this some parallel universe where unfounded criticism is levied at S&P for the downgrade when they’ve actually cut the pervasively corrupt, defacto bankrupt disunited states a break by not rating what america truly is; viz., junk status for the paper / liabilities / obligations that cannot and will not be paid (or the equivalent vis-à-vis what would be in worse than evermore worthless Weimar dollars or some other ‘ponzi-like’ subterfuge, obfuscation). The amounts are insurmountable going forward. They point to Moody’s and Fitch; yet, let’s not kid ourselves, S&P is the ‘800 pound gorilla’ in this world among rating agencies and moody’s, fitch have substantially diminished themselves as entities consistent with their ‘mission and purpose’ and as well, their credibility. I mean, come on! Consider the pressure that was and continues to be applied. Moody’s and fitch, quite frankly, folded. China’s rating agency has already downgraded u.s. paper and they’re ‘holding’ (huge amounts of that u.s. junk); and hence, against their own interest. Wake up! 

 

 

 

Stock markets rally on jobs report  In fourth day of wild swings, markets surge amid mixed signals about direction of U.S. economy. (Washington Post) [  The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! This an especially great opportunity to sell / take profits, particularly if you missed Tuesday or May, since there’s much, much worse to come! Thursday, Aug.11, 2011: what changed from yesterday which warranted a more than 500 point plunge with paper stocks still over-valued? Well, some bad news labeled as better than expected 1) 7,000 fewer jobless claims than expected (just a little over 1% better even if you believe them – I don’t) 2) Cisco shows results ‘better than expected’ 3) Record monthly trade deficit  [ What Recovery? Forbes ‘we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with.’ ‘Cisco Systems Inc’s quarterly results edged past Wall Street’s scaled-back expectations ...“They beat a low bar. A lot of it is coming from cost cutting, which we anticipated. In that sense it’s a relief,” Joanna Makris of Mizuho Securities USA told Reuters. ‘Cisco, which depends on government spending for about a fifth of its revenue, said in July it would cut 15 percent of its workforce and sell a set-top box factory in Mexico.. Cisco bulls may underestimate tough road ahead Randewich.’ ]

 

 

 

World Bank warns against future economic hardship Press TV | Zoellick pointed out that the world is now involved in redesigning the international financial system.

 

The World’s Money Is Draining Away … Where’s It Going? Washington’s Blog | All of the monetary and economic policy of the last 3 years has helped the wealthiest and penalized everyone else.

 

Both Consumer Confidence And The Labor Participation Rate Are At A 30 Year Low … That’s Not A Coincidence Washington’s Blog | A new poll from Thomson Reuters and University of Michigan shows that consumer confidence is the lowest its been for 30 years.

 



 

NATIONAL / WORLD

{scroll down to current date}

 

 

Legendary Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different bananas perhaps? [ Of course this is absolutely true! And not just from the meaningfully lawless perspective – I had made such a statement on the record in a LA Superior Court Appellate Dept. proceeding in which said court literally ignored the law (the same is true of the costly, plushly accoutered lifetime appointee federal courts) which corrupt courts should indeed be abolished in these difficult economic / budgetary times. Additionally, from pervasive corruption, to debased over-printed currency, to gunboat diplomacy, to total incompetence, etc., america is indeed a banana republic at most.]

 

Poll: Obama Approval Hits Lowest Ever Rasmussen | Only 19% of the nation’s voters Strongly Approve of Obama’s performance as president.

Obama poll numbers on economy hit new low AFP | The respected Gallup organization’s findings showed the embattled president down 11 points since mid-May.

GALLUP: Americans satisfied with ‘the way things are going’ — 11%! Gallup | Americans’ satisfaction with the way things are going in the United States has fallen back to 11%.


Obama’s ratings sink to new lows - Public pessimism about the direction of the country has jumped to its highest level in nearly three years, erasing the sense of hope that followed President Obama’s inauguration and pushing his approv...

Obama Approval Hits Record Low Reuters | President Barack Obama’s job approval ratings plunged to a new low ahead of his major economic speech Thursday.

CIA lawyer says Obama administration backed and continued virtually all Bush-era programs Natural News | As he campaigned for the presidency in 2007 and 2008, then Sen. Barack Obama made clear there would be no torturing of terrorism suspects on his watch.

CIA, MI6 and Mossad: Together against Syria RT | The West is doing its best to destabilize the situation in Syria.

 

Russia Warns US, Israel against Attack on Iran Fars News Agency | Russian Foreign Minister Sergei Lavrov warned the US and Israel against an attack on Iran, cautioning that such a move would mean “a very serious mistake”.

Yes, Americans Will Be Targeted As Terrorists Under the NDAA Paul Joseph Watson & Alex Jones | Republican Congressman Amash warns that bill can be applied to U.S. citizens.

Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.

Repeal of sodomy, bestiality ban sparks fight on Defense bill The Hill | New Defense Authorization Bill repeals a ban on sodomy and bestiality [ This country is so f***ed up! The decline and fall! America mother of hoods and apple new york (n.j. metro) fraudulent pie! Bestiality? What’s next? Legalized pedophilia? Ask p.s. football’s ‘frolicking manchild’ sandusky! ]

Google chairman says online piracy bill would ‘criminalize’ the Internet The Hill | “By criminalizing links, what these bills do is they force you to take content off the Internet.”

NEW HEADLINES

 

 

 

Obama’s Signing Statement on NDAA: I have the power to detain Americans… but I won’t  Infowars | “I want to clarify that my Administration will not authorize the indefinite military detention without trial of American citizens.” [ Who could possibly be foolish enough to believe even one word from jive-talking wobama the b for b***s***? He’s lied about everything! There is not one thing he hasn’t lied about! He’s a pathetically failed president! ]

 

 

Low IQ & Conservative Beliefs Linked to Prejudice [  I disagree with this speciously reasoned article. First, all races are prejudiced (I believe there to be and data supports evolutionary underpinnings to this pervasive trait - beyond the scope of this comment). Second, careful scrutiny of real, unfiltered data, coupled with command and knowledge of statistics and probabilities lead ineluctably to certain conclusions/outcomes that political correctness would love to ignore to the ‘innocent’ populace’s detriment and peril. Third, a study emanating from canada is hardly the touchstone for credible ‘universal’ application inasmuch as, though hardly a random sampling, I have personally found canadians to be thieves and criminals without exception thus far in my direct experience. As such, I’d say this specious study to be somewhat self-serving at best, and spurious egalitarian propaganda at worst. Rationally based, meaningful, uncorrupted law and enforcement, though rare, are a prescription for dealing with base human instincts. It may not always be pretty, but reality counts!  ]

 

 

 

2-22-12

 

 

 

25 Signs That America Is Rapidly Becoming More Like Nazi Germany  The American Dream  http://albertpeia.com/25signsamericabecominglikenazigermany.htm

 

Gen. Dempsey: Iran rational actor, not after nukes Press TV | General described any Israeli attack on Iran as “destabilizing.”

 

 

Russia: Israeli attack on Iran will bring catastrophe REUTERS | After UN nuclear watchdog declares collapse in talks with Tehran, Russian FM says military action would have dangerous consequences.



US Embassy In Afghanistan In Lockdown After Being Targeted By Angry Protesters CNN | Hundreds have forced the US embassy in Kabul into lockdown.



IAEA: Iran refuses access to suspect nuke site DPA | Hopes for defusing the Iranian nuclear crisis were thwarted Wednesday.



Thai Religious Leader Says Anti-Iran Terrorists Behind Car Bombs Washington’s Blog | Thailand’s Shia Leader Says MEK Behind Car Terrorism.



Pat Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought questionable benefit to the US over the last 20 years, former US presidential advisor Pat Buchanan, author of Suicide of a Superpower, shared with RT. ­http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm Would You Support a War Against Iran If You Knew the True Facts?

 

 

In Eerie Replay Of 2011, Gold Spikes Abruptly To Over $1770, Silver Follows

Zero Hedge | Why the move? A big buyer obviously.

Pasteurized milk 150 times more contaminated with blood, pus and feces than fresh milk – videos the CDC won’t show you

Mike Adams | The CDC has put out a stunning piece of propaganda attacking fresh (raw) milk.

TSA Questioning Body Scanner Opt-Outs

Steve Watson | Refusing to be irradiated treated as suspicious behaviour.

Ron Paul Is Being Cheated Out of the Republican Nomination

Paul Joseph Watson | The GOP establishment has resorted to vote fraud in almost every state.

Overspending on National Security Threatens National Security

 

Tuesday, February 21, 2012 – by Ron Paul

Kurt Haskell: Witness to Government False Flag

PrisonPlanet.com | Rob Dew interviews Flight 253 whistleblower Kurt Haskell in person.

New Government Initiative Would Circumvent Second Amendment By Targeting Ammunition Not Guns

Mac Slavo | Government officials are beginning to explore ever more novel ways of circumventing the Second Amendment.

State Reps Unite to Defend Constitution from NDAA: Bryce Shonka Reports

PrisonPlanet.com | States are standing up to block indefinite detention under the NDAA.

Iran-Thai Bomb Blast Update

Tony Cartalucci | Predictable, improbable, and factually-deficient conclusion made by US-run Thai administration.

Google Caught Violating Browser Privacy Settings to Track Users

Paul Joseph Watson | Controversy underscores Google’s contempt for web freedom.

Iran Holds Air Defense Drills As IAEA Says Iran Blocks Access To Key Nuclear Site

Zero Hedge | The escalation “ball” is now in the Western court.

Feds Sic IRS Attack Dog On Antiwar Activist Cindy Sheehan

Kurt Nimmo | Cindy Sheehan gave her son to the Empire, now they want to throw her in prison for speaking out.

Pasteurized milk 150 times more contaminated with blood, pus and feces than fresh milk

Mike Adams | Dairy industry would rather force everybody to pasteurize milk and outlaw clean raw dairy than to clean up their own act.



Gov't launches war on hair dryers... By Charles Hurt ANALYSIS/OPINION: All praise be to Allah! The federal government apparently has eradicated the illegal immigration that cripples America. It has eliminated the staggering unemployment that has brought so much misery to so many families. And, apparently, it has erased the suffocating debt and added enough spunk to the economy that it no longer needs all of those little tax dollars that small businesses provide.

That is why the federal government has so much time these days for fine-tuning our society in ways that might seem frivolous if we didn’t have so much patience and extra money lying around.

Just last week, the Department of Homeland Security proudly announced that federal agents had stopped 13,000 “dangerous hair dryers” at the border. The department issued a press release to highlight this daring, successful mission and to remind us how lucky we are to have such diligent protection of our sacred borders.

That’s right, 11 million illegals streaming over the Mexican border and what is our federal government hellbent after? Faulty hair dryers. And they’re even patting themselves on the back for it.

Also last week, cafeteria Nazis in North Carolina swooped in and saved at least two preschoolers from certain death.

Rifling through suspicious lunchboxes containing homemade materials such as sandwiches, the Nazis discovered at least two mothers who were — either intentionally or in their rank ignorance — attempting to poison their children with turkey and cheese, bananas and apple juice.

The agents — in accordance with federal USDA guidelines — wrestled these illicit lunches from the preschoolers and replaced them with healthful, federally approved “cafeteria nuggets.”

Then there was the stunning victory last week of the massive federal government over a little Amish farmer in Pennsylvania who was intentionally and maliciously caring for cows, milking them and then selling the fresh milk produced by the cows he was caring for to willing customers eager for fresh milk.

This, of course, is strictly illegal.

The only way the federal government allows for milk to be sold is if it is cooked, processed and hauled halfway across the country in a giant, silver tanker and normally sold under a luminescent glare in the aisles of a giant grocery store with jingly music piped in.

A man buying a quart of fresh milk from Daniel Allgyer, a farmer he trusts? Well, that is just evil and a threat to proper civilization under the federal government. It is downright subversive.

The cooking and processing and hauling, of course, generally require a big dairy operation where thousands of cows at a time are fed antibiotics to combat all the diseases that are rampant among animals crammed into assembly lines. It also costs a lot of money, which keeps small, menacing Amish farmers with their fresh, great-tasting subversive milk from competing in the milk market.

So last week, after more than a yearlong sting operation including a pre-dawn armed raid — I am not making any of this up — the federal government finally prevailed and the taxpaying, job-providing farmer went out of business. No longer will Big Dairy need to worry about this dangerous merchant of fresh milk…’

 

Video: “I Won’t Pay Movement”

Kurt Nimmo | Leftists shine when it comes to direct action.

TSA Questioning Body Scanner Opt-Outs

Steve Watson | Refusing to be irradiated treated as suspicious behaviour.

Globalists Push Internet Control Freak Treaty at the United Nations

Kurt Nimmo | ITU treaty peddled following popular opposition to SOPA and PIPA.

Ron Paul Is Being Cheated Out of the Republican Nomination

Paul Joseph Watson | The GOP establishment has resorted to vote fraud in almost every state.

Counter-Terrorism and Northern Border Drug Strategy Tied to Perimeter Security Deal

Dana Gabriel | Never ending wars on drugs and terrorism used to justify huge police state security apparatus.

Regulations Harm Small Business and Protects Corporations

James Hall | Reinstituting an American industrial and manufacturing base is a necessary step to climb out of a deep hole.

 

 

 

 

 

 

EFF: In our 600th issue:

Hazards of Digital Locks Provisions: Censorship Fears in Canada's C-11 Bill

While copyright owners claim that they need anti-circumvention laws to address copyright infringement, twelve years' experience with the U.S. DMCA provisions demonstrates that overbroad digital locks laws can wreak havoc on lawful, non-infringing activities, stifle free speech and scientific research, and harm innovation and competition. Small wonder that a broad range of groups in Canada have come out against the unforgiving nature of Canada's C-11 Bill, including librarians, content creators, rights advocates and others.

Encrypt the Web: Tell Online Dating Sites to Stop Slovenly Privacy Habits

For many years, EFF has been working to encrypt the Web, pushing websites to adopt better security and providing users with tools to protect themselves. This month, we're looking at online dating sites, which can be particularly negligent in safeguarding the sensitive data of users. Our analysis found these sites failed to implement even basic levels of security, but we were particularly concerned about the negligent security practices we discovered on the free dating site OkCupid. We've contacted the site and asked them to improve, but we could use your help. Send OkCupid an email today asking them to implement HTTPS.

Researchers Use EFF's SSL Observatory To Discover Widespread Cryptographic Vulnerabilities

Using data from EFF's SSL Observatory project, a team of researchers conducted an audit of the public keys used to protect HTTPS. Lenstra's team has discovered tens of thousands of keys that offer effectively no security due to weak random number generation algorithms. The consequences of these vulnerabilities are extremely serious.

EFF Updates

Six Heartbreaking Truths about Online Dating Privacy

Millions of people are using online dating sites to search for love or connection, but users should beware: many online dating sites are taking short cuts in safeguarding the privacy and security of users. Whether it's due to counter-intuitive privacy settings or serious security flaws, users of online dating profiles risk their privacy and security every day. We've put together six sobering facts about online dating services and a few suggestions for routing around the privacy pitfalls.

Comparing Privacy and Security Practices on Online Dating Sites

Concerned about your privacy when you use online dating sites? You should be. We found that the majority of the sites we examined did not take even basic security precautions, leaving users vulnerable to having their personal information exposed or their entire account taken over when using shared networks, such as at coffee shops or libraries.

A Better Path for Apps: Respecting Users and Their Privacy

Earlier this week, a Singapore-based iOS software developer made a startling discovery while working with the popular social-networking app Path: in the course of every new account creation, Path uploads the new user's entire iPhone address book to their servers. The strong user reaction demonstrates that even as norms of sharing evolve online and in the social networking space, users still value their privacy highly.

India's Downward Spiral

The world's biggest democracy is a formidable power in the IT sector. Despite playing such a role -- or perhaps because of it -- India has struggled to strike a balance between its security concerns and online freedom. Though the country's constitution guarantees the right to freedom of expression, the state is given the right to impose "reasonable restrictions ... in the interests of the sovereignty and integrity of India, the security of the State, friendly relations with foreign States, public order, decency or morality, or in relation to contempt of court, defamation, or incitement to an offence."

Iran Ratchets Up Its Internet Censorship

The Iranian government has not openly acknowledged these new measures. However, they are widely thought to be preliminary steps towards a nation-wide Halal Internet that would cut off a majority of citizens from the global web -- replacing it with one that would effectively block all foreign sites, allowing only state-controlled content to be accessed within Iran.

What the RIAA Won't Tell You: Users Matter

The New York Times published a lengthy screed from Cary Sherman, president of the Recording Industry Association of America, complaining about how "Google and Wikipedia" got in the way of efforts to ram through the Internet blacklist bills, never mind the massive collateral damage to Internet security, expression, and innovation those bills would have caused. The op-ed's really unfortunate message is that Hollywood still thinks the way forward is for a few executives to sit down together and make a deal.

miniLinks

The perpetual, invisible window into your Gmail inbox

Since Gmail added OAuth support, an increasing number of startups are asking for a perpetual, silent window into your inbox. While hugely convenient for both developers and users, OAuth may be paving the way for an inevitable privacy meltdown.

Amnesty International: EU urged to reject international anti-counterfeiting pact

Amnesty International urged EU governments not to join the Anti-Counterfeiting Trade Agreement (ACTA), branding it a "Pandora's box" of potential human rights violations.

We are the media, and so are you

In a Washington Post op-ed, Wikipedia founder Jimmy Wales explains that it's users, not corporate interests, who won the SOPA/PIPA fight.

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Back issues of EFFector

 

 

 

Distrusting Government Characterized as Mental Illness by APA

Infowars.com | Authorities are trying to officially designate noncomformity and free thinking as a mental illness. [ Try as they might, it’s doubtful such efforts could succeed, almost by definition alone, without  self-destructive complicity on the part of the APA which would by so doing undermine the APA’s credibility, as well as, their substantial progress and achievements in this field. ]

 

 

US Warns Iran Not To Fight Back Against israeli Attack Paul Joseph Watson | US warship remains in Strait Of Hormuz amidst simmering tensions. [ Riiiiight! Sounds like a plan! You know, that good advice emanating from pervasively corrupt, defacto bankrupt america. No small wonder that america’s lost credibility globally as well as domestically. Iran has been targeted by the zionists, neo-cons and israelis for quite some time and can and should vigorously defend themselves from the aforesaid agressors. ]

 

 

 

Afghanistan's Soldiers Step Up Killings of Allied Forces New York Times KABUL, Afghanistan [ Yeah … say what you want, but in the last analysis, these are not pro-zionist fools; but rather, rational beings who, despite the propaganda, bribes, and machinations, know who their real enemy is. ] - American and other coalition forces here are being killed in increasing numbers by the very Afghan soldiers they fight alongside and train, in attacks motivated by deep-seated animosity between the supposedly allied forces, ...

 

 

 


Chimp from 1930s US 'Tarzan' films dead at 80 [ Chimpout! Blacks in mourning! ] Cheetah, a chimpanzee said to have performed in the "Tarzan" films of the 1930s, has died at the age of 80, according to the Florida sanctuary where he lived. Did Cheetah from 1930s Tarzan flicks die? A Florida animal sanctuary says Cheetah, the chimpanzee sidekick in the Tarzan movies of the early 1930s, has died at 80. But other accounts call that claim into question.

 

 

 

Pakistan's military rejects Pentagon findings, denies coup plot MiamiHerald.com [Yeah … come on … who’d possibly be foolish enough to believe the u.s. military or any other agency, entity of the u.s., particularly concerning such a nefarious incident. Pervasively corrupt, defacto bankrupt america doesn’t even own up to incidents concerning Americans (ie., Pat Tillman, etc.).

 

Sneaker Mob Goes On Rampage: The Decline of Western Civilization John Galt | When the collapse happens, your neighborhood becomes a permanent Black Eye Friday.

They Can't Wait, They (blacks) Break Into The Mall...

  http://detroit.cbslocal.com/2011/12/23/shoppers-waiting-for-shoe-release-riot-break-into-mall/#comment-96059

PappyHappy

How many used their EBT card??

The following is a MUST SEE for those who perceived themselves as ‘LEADERS OF URBAN AREAS, AND FIXERS OF URBAN PROBLEMS’!

This is a video of Mayor Michael Nutter (Mayor of Philadelphia) speaking at his Church in August 2011. The video is approximately 30 minutes long, but a tutorial that would be most beneficial to leaders, and those wishing to make a positive change. Jump to MINUTE 9 for his salient points.

Makes one wonder where other ‘self professed urban leaders’ have been doesn’t it??

December 23, 2011 at 8:27 pm | Reply | Report comment

Mudholder

I knew we were headed towards ” Idiocracy “, when in 1971 they started teaching “ebonics”. at Lakewood high school.

December 23, 2011 at 10:02 pm | Reply | Report comment

rusty the right wing nut

yeah its were our tax money went statisticaly we paid for some of them shoes bunch of apes they ussed their obama welfare foodstamp and unemploymeny money and probly some money they sold crack for and probly pimped a few ni$$a Bi%%%%S as well for cause dem shoes cause dey tight

December 23, 2011 at 10:37 pm

Michael

Christmas is the birthday of the Son of God. Civilizied Christains worship God, love eachother and seek peace on earth. Animals worship material material goods which will fill a landfill someday. I pity the animals.

December 23, 2011 at 10:48 pm

DIVERSITY IS OUR STRENGTH!

Welcome to our http://www.NewNation.org

December 23, 2011 at 11:21 pm

Allan Sokyra

DIVERSITY IS NOT OUR STRENGTH!
UNITY IS. But that’s not somthing I expect the gimme, gimme, gimme diversity crowd to understand.

December 24, 2011 at 3:22 am

JoeJones

Gimme some of dem Obamabucks man!

December 24, 2011 at 5:34 am

Hal McCombs

Hey “Diversity”? Do you not know the English language?

How can ‘diversity’, the root of which is “to divide”, bring us together?

Are all leftists as stupid as you? (Especially the one calling himself “rusty” pretending to be a ‘right-wing’ redneck.)

December 24, 2011 at 5:53 am

Rita Ippolito

contrast this honest and strong Black leader with the Race hustlers like Sharpton, Jackson.. WE NEED MORE LIKE HIM

December 23, 2011 at 11:13 pm | Reply | Report comment

Jomama

Obama supporters…what do you expect? Uncivilized and immature. Good God, a pair of shoes and the chaos it causes? What about what our leaders are doing to this country and not a care…God help the USA!

December 23, 2011 at 11:34 pm | Reply | Report comment

LA Doc

Man, you ain’t kidding. Freeloading, thieving, ghetto-rats. All of them. Just like the animals in the WH and Congress.

December 23, 2011 at 11:46 pm

bullrider

I haven’t spent a fraction of what those shoes cost for any I’ve bought EVER. Of course, I’m a systems analyst and have to pay every frigging dime of the cost for food, housing, clothing, medical care etc. for myself and my family, and pay huge taxes on my $60K income so others CAN afford to buy those UGLY f-ing shoes.

December 24, 2011 at 12:39 am

Rob Frey

Wow I am appalled at the state of society and just as appalled at the racial tones thrown around in the comments. When i read this i didn’t even equate this to black or white. Although reading more about this most of this was people of color. Don’t get me wrong i am no liberal i just don’t see skin color as a judgement before character. This season there has been a far greater number of stories of blacks in shopping incidents. I am sure the we will do a 10 million dollar study funded by the government. My thought is the social issues are escalating due to the not phasing out of Affirmative action. It had a purpose initially but now there is a segment of society dependent on it along with providing a nanny state. It’s creating a racial divide and an attitude of oh i deserve this it’s taken generations. We now have a nanny state, which is by design to buy votes not to help long term by making us equal in anyway. We have now a group that is dependent and believes they are less than so they need this. This didn’t create equality, it created a monster and now we have a president who is using the divide it has cause as a weapon against whites. The facts are well know there is no evidence that supports this Affirmative action as a long term thing had help our society. We all have to stand on our own sooner or later. Please don’t read into this that i believe all blacks are in this whirlpool hell no. It’s very much becoming a Hispanic issue also, they can sneak into the US and get a free ride on many services. What the hell, i have been brought up if i can’t afford i don’t get it, including times where my cupboard was bare. I don’t go to the state, don’t have kids if you can’t afford them, don’t have sex if you can’t afford protection. Yet we provide food and shelter for people who do nothing for other peoples money distributed by the Government and stolen from the tax payer. We are at a tipping point the number of people on assistance is close to the amount not when that happens we have no chance of turning it around. This mess filled a need and works fine short term, long term dependence take incentive and personal drive away and creates a restless society that is given just enough to get buy and no satisfaction of achievement. This is a colorless problem of entitlements and Affirmative action. Now we are at a point if we change it there is going to be racial and class warfare. Thanks libs, thanks obama for the mastering us of the race card. Sorry about the rant.

December 23, 2011 at 11:45 pm | Reply | Report comment

rusty the right wing nut

liberal Pu$$Y probly voted for HObama

December 23, 2011 at 11:47 pm

Annie

Dont insult the intelligence of smart blacks or caucasions . Affirmative action is a symptom not a cause. This is the face of ghetto culture and this primative behavior exists in every african nation on earth. Stop with the excuses. Every culture has been enslaved and “oppressed”. The mark of a people is how you pick yourself up, rise above and organize your social behavior.This continued infantalization of African American cultures doesn’t do anyone any favors. What exactly is it doing for you? Cui bono?

December 24, 2011 at 12:17 am

bullrider

I’m not a person of color. I must be transparent like window glass.

December 24, 2011 at 12:41 am

Andrew

Gee aren’t you so swell…you are just a such a peach to be so above seeing the politically incorrect but oh so obvious truth. The obvious fact being that 99.5% of urban blacks give the remaining half percent a bad rap. Pull your head out…it ain’t racist if (and it is) the truth. These ‘people’ are an embarrassment to any thinking individual, they are uncivil and are effectively acting as the water in the fuel tank of this once great nation, and you are not helping by denying it. I know you would not hold back if it was a bunch of white trash doing the same.

December 24, 2011 at 12:52 am

Chris

A “gift” tree? Does this mean the Menorah is now a gift candle stick?

December 24, 2011 at 12:48 am | Reply | Report comment

Jessie

This is a black leader NOT Jackson , Sharpton and othe rcriminals. The black community needs to get a grip on the hip hop culture of thugs and do it fast .
Democrat entitlement programs have ruined the black community over the last 3 decades . This is what you wind up with

December 24, 2011 at 1:06 am | Reply | Report comment

GW

Meanwhile across town, the Reverand Al Sharpton held an Occupy Nike event, at which he decried the Nike corp of exploiting the inner city by creating the shoe in the first place “this is obviously a scheme to take from the poor and give to the 1%” “Nike should be ashamed at the way it has made these honor roll students behave”. The crowd supporters behind him chanted “Jordon! Fordon” as the Reverand went on to ask: “why didn’t Nike just give the shoes away to anyone that wanted them? This is an outrage”. Senetor Maxinne Waters promised a full congressional hearing, and the president remarked that the police acted “stupidly.

December 24, 2011 at 4:43 am | Reply | Report comment

hooky

Well, throw a pair of Air Jordans in front of a group of blacks is like throwing raw meat in the lion’s den. What would one expect? Get real!

December 23, 2011 at 8:28 pm | Reply | Report comment

RC

Your confused with food stamps…

December 23, 2011 at 10:39 pm | Reply | Report comment

rusty the right wing nut

what-
im confused f u f a g

December 23, 2011 at 10:46 pm

rusty the right wing nut

no they sell the card or buy food and sell it at a cheaper price cause black chicks tend to have a $hit ton of kids so they have a lot they but theyre broke lazy a$$ boyfriend these so after he impregnates her he can run away faster. Stupid A$$

December 23, 2011 at 10:49 pm

Boston Patriot

@RC: The proper grammatical construction is “you’re” for you are. Thanks

December 23, 2011 at 11:25 pm

Rick O'Shea

I thought I saw Moochelle back in the crowd.

December 23, 2011 at 8:35 pm | Reply | Report comment

Midge Martin

“Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws.”
- Plato

http://911essentials.com

December 23, 2011 at 8:41 pm | Reply | Report comment

I P Standing

rituals of primitive cultures

December 23, 2011 at 8:42 pm | Reply | Report comment

Bahb

Tell me, please, what in the hell is a “gift tree”? Christmas is 2 days away. Call it what it is – a CHRISTMAS TREE! And for those who think that we should be saying “Happy Holidays” instead of “Merry Christmas”, ‘holiday’ is just a shortened version of “holy day”. Stick that in your pipe and smoke it!

December 23, 2011 at 8:43 pm | Reply | Report comment

rachel

AMEN!

December 23, 2011 at 9:26 pm | Reply | Report comment

Clearhead

You told it like it is Bahbbi boy. We’re proud, proud, proud of you !! Furthermore — PRAISE GOD FROM WHOM ALL BLESSINGS FLOW !!!

December 23, 2011 at 9:52 pm | Reply | Report comment

Tyrone

We be celebrates da Kwanza, not da white man holidays. Kwanza be for da chosen peoples.

December 23, 2011 at 10:11 pm | Reply | Report comment

bullrider

I thought that for Kwanzaa the gifts were more along the lines of candles, baskets, nuts, fruit, and crafts – not overpriced, UGLY shoes.

December 24, 2011 at 12:43 am

Hal McCombs

So a Kwanza tree is made of Air Jordans? Figures.

December 24, 2011 at 5:58 am

YepYep

This is really sad. We should pass a law that black people are not allowed in stores during normal business hours for the sake of safety. What a bunch of animals..

December 23, 2011 at 8:45 pm | Reply | Report comment

Sisao Tresed

Don’t forget these same people have special Christmas Shopping coats for that extra discount.

December 23, 2011 at 10:22 pm | Reply | Report comment

Patriot42

I was taught as a youth to respect all people regardless of their color. I try to understand why these b-la-c-k-s act so hostile and seem to be easily provoked. Am I missing something?

December 23, 2011 at 8:48 pm | Reply | Report comment

lvh

No not you..Not me. I feel as you do.
This is BIG GOV at work.

December 23, 2011 at 9:11 pm | Reply | Report comment

Dave

Yep.

December 23, 2011 at 9:29 pm | Reply | Report comment

Marilyn

It has nothing to do with the color of their skin. This is what liberalism has done to the urban areas. They tell a group of people that they are not capable of providing for their families and that everyone else owes them, and they promise that the government will take care of them. Thus the people barely get by, have too much idle time on their hands, they are unhappy, want the same things as most families but they are dependent on the government, and they have been told their WHOLE LIFE that they are not capable of anything more, and the cycle continues. What liberalism has done to human beings breaks my heart.

December 23, 2011 at 9:58 pm | Reply | Report comment

SAJ

Marilyn,
You have provided an excellent succinct explaination for this type of behavior. However, you have left out the fact that people’s sinful desires push them toward these actions. Because the people of whom we speak have too frequently not faced the consequences of their actions. they are often all too willing to act in very unlawful ways.

December 23, 2011 at 10:34 pm

bullrider

Liberalism and the Democrats have destroyed the black family structure and turned them into a taxpayer-subsidized crop of Dem voters. In 1940 – back before all the civil rights and welfare stuff began – 80% of black children were born into married, two parent families. What is that figure nowadays? 10% maybe? It is sure a small fraction of what it used to be.

December 24, 2011 at 12:45 am

Jessie

This is a black leader NOT Jackson , Sharpton and othe rcriminals. The black community needs to get a grip on the hip hop culture of thugs and do it fast .
Democrat entitlement programs have ruined the black community over the last 3 decades . This is what you wind up with
Spot on reply. Liberal policies have ruined the black community over 3 decades.

December 24, 2011 at 1:08 am

Eric

http://stuffblackpeopledontlike.blogspot.com/2011/12/not-exactly-christmas-shoes-black.html

This doesn’t happen with white people at Apple stores trying to buy the latest iPod.

December 23, 2011 at 8:49 pm | Reply | Report comment

Major Bananorama

To reduce widespread chimpage, store management should have had a large stock of shiney washers, baubles and mango’s to throw out into the pack to keep them amused.

December 23, 2011 at 8:49 pm | Reply | Report comment

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Derrick

I’m black.
I am absolutely disgraced by this.
No wonder white people think we are animals.

December 23, 2011 at 8:55 pm | Reply | Report comment

rachel

Black people are their own worst enemy.

December 23, 2011 at 9:30 pm | Reply | Report comment

kari ju

Derrick we just need to do a lot of work on people’s hearts. we have let cheap politics fill the void where moral teaching should be. We have left all our poorest to the mercies of government and amoral “leaders.” bad move, that.

December 23, 2011 at 9:40 pm | Reply | Report comment

Clearhead

White people don’t think you’re animals, Derrick. All colors of people act like animals sometimes. The ones that ACT like animals are the ones all people should think of as animals. (Apologies to most animals).

December 23, 2011 at 9:57 pm | Reply | Report comment

Darrel

I think 60-70 percent of blacks ARE violent nasty rabid animals. 30-40 percent are human beings and decent. Facts are facts.

December 23, 2011 at 10:13 pm

tward

Derrick: Whites and Blacks have Jesus in common. If both would live up to His standard of loving our neighbors there would be no fights, thefts and no hate. Merry Christmas from a Southern Hillbilly White Boy.

December 23, 2011 at 10:00 pm | Reply | Report comment

rusty the right wing nut

cause u are

December 23, 2011 at 10:39 pm | Reply | Report comment

Jack

Were these the “greedy” 1%? No? I guess “greed” isn’t just a rich thing.

December 23, 2011 at 8:56 pm | Reply | Report comment

NightRider

What do you expect from sub-human animals? The Negroid race has always been and will always be ‘a joke’ and a waste. As a group they cause nothing but continued problems…it has always been this way (read their history) and they always will.

December 23, 2011 at 8:57 pm | Reply | Report comment

Marilyn

You are a ‘joke’ and a waste of time.

December 23, 2011 at 10:00 pm | Reply | Report comment

JimRocky

Actually he is right Marilyn. You just have eyes that refuse to see.

December 24, 2011 at 12:17 am

nwpurpletoo

Tell me again why there are more blacks in prison than whites. I’m just sayin’.

December 23, 2011 at 8:59 pm | Reply | Report comment

Jim H

That’s easy. Blacks are hostile and easily provoked because they feel entitled. Generation after generation teach their kids how to manipulate the system and they are experts at it. Most of them think that society owes them something and that it should provide for them.

Come to think of it if I was black with an IQ like some of those in these videos – I’d be hostile too.

December 23, 2011 at 9:03 pm | Reply | Report comment

BigBoa

Just another chimp-out.

Check out chimpoutdotcom and see if this clip made the cut!

Savage animals……

December 23, 2011 at 9:05 pm | Reply | Report comment

B Guyton

I thought they were running to vote for Obama.

December 23, 2011 at 9:06 pm | Reply | Report comment

Dave

Wait til you see what happens when he loses.

December 23, 2011 at 9:31 pm | Reply | Report comment

enguard

the cream of the black culture on glaring display….we’re already paying reparations considering this level of depravity embedded in our society.
The parents (and there are some among the mob) must be proud.

chimping out as an Olympic sport?…oh wait…basketball

December 23, 2011 at 9:09 pm | Reply | Report comment

Jamex Anderson

I just saw Rise of From The planet of the Apes.

December 23, 2011 at 9:09 pm | Reply | Report comment

B. Guyton

O.K.people this will tell you everything you want to know about this incident.

THIS IS THE REAL STORY, NOT WHITEY”S MADE UP STUFF.

http://therealrevo.com/blog/?p=57506

December 23, 2011 at 9:11 pm | Reply | Report comment

Collector

At what point in society do we finally stop and admit that a certain race of people are different from all other races. A certain race of people are more violent and mean than others. When do we start seperating this group from others for protection of society in general. When a certain race costs everybody more because of their out of control lawlessness, should we make them pay instead of penalizing everybody for the actions of a few. Frankly, I’m tired of my taxes being higher to pay for more police, more prisons, more courts and additional defense attorneys because 12% of the population commits 70% of the crime. Food and clothing costs are higher because of theft, insurance is higher because of carelessness, stealing, vandalizism, drug use and virtually every other commodity and activity is more expensive because one race fails to raise their kids and fails to teach their children to follow and respect the law. It’s unfortunate and sad because there are a few members of this race who do what’s right but they are overshadowed by a large majority who act completely uncivilized. We’ve been allowing this to go on long enough. Something must be done and that doesn’t mean more free handouts or reparations. It’s time they started paying for what they take, use, destroy and what they cost the World.

December 23, 2011 at 9:11 pm | Reply | Report comment

Mustafa

If the Jordan’s fit,,,,,
When these idiots act like a bunch of thugs, it perpetuates the caricature of the black population. Compare New Orleans after Katrina vs Japan after the tsunami’s. Classless vs Class. It be what it be.

December 23, 2011 at 9:48 pm | Reply | Report comment

Bob3

CCW is a good place to start, they lack empathy and impulse control, pain and misery is all the understand be prepared to deliver it.

December 23, 2011 at 10:12 pm | Reply | Report comment

rusty the right wing nut

dont worry everyone knows it even blacks know we all know it even diggers know it there is a race war coming i dont think its right but its just the ways it is wP

December 23, 2011 at 10:43 pm | Reply | Report comment

John Frost

Darwin:” Blacks are not Human but wild african animals……predator animals”
We are dealing with savage beasts….unleashed. Race war is coming I feel it!

December 23, 2011 at 11:27 pm | Reply | Report comment

rusty the right wing nut

i love sickle cell lol

December 23, 2011 at 11:36 pm

rusty the right wing nut

White Power White Power

December 23, 2011 at 11:50 pm

Steve

What a bunch of disgusting savages…enough said.

December 23, 2011 at 9:14 pm | Reply | Report comment

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rachel

Why am I not surprised? What a disgusting bunch of useless thugs. I’m ashamed to call these people countrymen. I call them boils on the backside of America.

December 23, 2011 at 9:25 pm | Reply | Report comment

One-Who-Will-Listen

People of any race are greedy, selfish, and prideful. Why this happens in America, where we have all the resources we need to survive and be well fed, I just don’t understand. What the h-ll is so important about a pair of overpriced shoes? I don’t get it; really, I don’t.

December 23, 2011 at 9:26 pm | Reply | Report comment

kari ju

testify. no way this is a unique black thing.

December 23, 2011 at 9:32 pm | Reply | Report comment

Black Thing

testify. this is a unique black thing.

December 23, 2011 at 10:17 pm

ton

Sorry, it is.

December 23, 2011 at 10:23 pm

Big Papi

Now imagine if there was a huge catastrophe that hit a very widespread area and food and electricity, gas and cash could not be had. You would have this scene times a thousand. Apparently this group of society would cause continued chaos while others tried to manage. Best advice? Have your own food stored, cash on hand, and not only posses firearms but be proficient in their use. It will be a life and death situation that this group of society will only make worse. If you arent scared, you arent living in reality. Get over the “hater” taunts and racist shouts—if they’d do this over fashion sneakers imagine what they’d do to you in a true crisis. The Police cant protect us anymore. Be Prepared but also be armed, irregardless of your political and 2nd amendment views. You will not survive believing that good intentions will save us all.

December 23, 2011 at 9:34 pm | Reply | Report comment

rusty the right wing nut

well said arm the Fu”#$ UP dese nig have gone nuts

December 23, 2011 at 10:55 pm | Reply | Report comment

Jon Baker

Okay, I’m just going to say it, I’ve never been p.c. anyway. What is it about Negroes and sports shoes? I mean really, somebody should study this. Stereotypes come from truth, the problem though is when you say all. Now I know all blacks aren’t like this , obviously any intelligent person knows that but too many are. And I bet the deficit that if you called any of them on it that were involved in this they would call you a racists, and blacks bold enough to speak out self haters. As nasty and far gone as Chicago already is they better be on their knees grateful for Richard M. Daley and Rahm Emanuel on duty now who chose to follow the New York model Because It sure was heading towards being another Detroit. Get out now while you still can.

December 23, 2011 at 9:35 pm | Reply | Report comment

kari ju

cmon guys – the racist stuff is degrading all of us and it is offensive to Mayor Nutter and the good people in that church, none of whom deserve to see that kind of thing in print. They are on our side and they deserve our respect. The riot over shoes is just what you’d expect anywhere that a leftist government panders to a dependent class, telling them they’re entitled. Remember the London riots a few months ago? This kind of thing happens the world over and it is not a black thing per se

December 23, 2011 at 9:36 pm | Reply | Report comment

B. Guyton

Watch the video above that provides a black man’s prospective. It may help you understand why this is happening.

December 23, 2011 at 9:41 pm | Reply | Report comment

b. Guyton

Here is the video. It may help explain the problem from a black man’s prospective. Racist……………maybe?
http://therealrevo.com/blog/?p=57506

December 23, 2011 at 9:47 pm | Reply | Report comment

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Jason, NYC

Animals, all of them, animals…

December 23, 2011 at 9:58 pm | Reply | Report comment

BubbaT

No, not all. But that’s what the Government would like us to believe.

December 23, 2011 at 11:36 pm | Reply | Report comment

Obamanation

I’m suprised they didn’t just steal the shoes. Redistribute the wealth to the lame and lazy parasites of society. Leaches and slugs in $180 shoes.

December 23, 2011 at 10:08 pm | Reply | Report comment

Marilyn

Most of these comments are really horrible. This has NOTHING to do with the race of the people involved. This is what happens with 50 years of liberalism. This is exactly what the democrat party wanted. A segment of society that will ALWAYS vote for them. They have taken a group of people and for generations have told them that the rest of society owes them. They have told this group of people that they are NOT capable of taking care of themselves or their families. They have been pushed through school while learning NOTHING except what party to vote for. When a crime is committed they are often not made to pay for the crime but are given exuses for the crime. What did you democrat voters think would happen? That your stupid policies would work, even though you look back and see 50 years of failure.

December 23, 2011 at 10:10 pm | Reply | Report comment

B. Guyton

From the cotton and rice plantations to the Democrat plantation!!

December 23, 2011 at 10:16 pm | Reply | Report comment

Rita Ippolito

I’m a conservative, not a racist. too many racists here for me but this comment from Guyton … hit the mark…

Blacks will continue to be Democrats no matter what as long as the Democrats promise entitlements and as long as the nuclear Black family is in shambles.

December 23, 2011 at 11:18 pm

New York Nick

You got that right brah……. the dem plantation of fools , where be my handouts!!

December 23, 2011 at 11:21 pm

Joe G

Nothing to do with the race of the people involved? EVERY majority black city in the world is a crime and disease ridden slum. The only logical conclusion is that race is a factor.

December 24, 2011 at 12:30 am | Reply | Report comment

Mike in Grasonville

Just another example of blacks being a blight on society. Far too many of them live off the backs of others, see Section 8 housing, welfare, food stamps, etc. No other group, or should I say ethnic group behaves like this. Check any school systems acheivement scores asnd you will see that blascks are dead last. So, does this surprise anyone? Send them back to Africa, if they’ll have them.

December 23, 2011 at 10:11 pm | Reply | Report comment

jewbag

blacks.

December 23, 2011 at 10:15 pm | Reply | Report comment

Hollywood Hick

When members of the black community see these stories, what are they thinking? Is there any wonder the black community is such a mess? They are the most pandered-to ethnic group on the planet and they are a hopeless disaster.

December 23, 2011 at 10:16 pm | Reply | Report comment

B. Guyton

Hay!! You need nice shoes to walk around the Democrat plantation.

December 23, 2011 at 10:22 pm | Reply | Report comment

Bob13

Oh and don’t forget the chocolate Jesus wants to make these upstanding citizens your neighbors via sec8 housing and the best part is he’s gonna use your “white” taxpayer dollars to do it.

Imagine the joy of waking up one sunny morning to find a house full of these hood rats living next door to you in your soon to be formally pristine neighborhood, and of course and again the best part is that you get to pay for it and the schools that their animalistic spawn will soon ruin, ain’t life grand?

It’s time for weak feeble minded white people to grow a pair and stop this garbage, if someone calls me a racist I laugh, that tired old worn out phrase means nothing, these animals need to clean up their own mess or to their extreme displeasure others will do it for them.

December 23, 2011 at 10:27 pm | Reply | Report comment

RicardoCabeza

The Negros are their own worst enemy they just can’t help themselves. For the most part they have no decency, no discipline and pure gutter trash instinct. I don’t particularly blame them though they have a weak constitution It’s what the welfare, government cheese and hand outs does to them that is the shame here.

December 23, 2011 at 10:29 pm | Reply | Report comment

Larry Sinclair

Dang 1%’ers … cause we know those 99% are so broke they can’t even afford food for the kids and surly don’t have $180.00 laying around .. unless you sell your EBT food for cash …..

December 23, 2011 at 10:34 pm | Reply | Report comment

Steve

If anyone is curious what a product of Socialism looks like, this is it. The Democrat Party presents us with the great society!!

December 23, 2011 at 10:37 pm | Reply | Report comment

Obamas Stash

Black on Black crime .. what’s new? Democrats started Jim Crow Laws,,, Democrats started the KKK, Democrats took away blacks civil rights in 1875 but they cannot figure out why after voting Democrrat 50 yrs they are still as bad off as they were ….

December 23, 2011 at 10:38 pm | Reply | Report comment

ramon

You are 100% right on target.

It amazes me how Blacks vote 85 to 95% Dumbocrat every Presidential election. No matter if it’s Obama, Kerry or any other Dumbocrat!

December 24, 2011 at 3:17 am | Reply | Report comment

Sisao Tresed

This whole mentality was spawned by big government, but every intelligent man must think for himself and act as his own man or woman. Long after this event has passed, the bitter taste of welfare, drugs, booze and abortion on demand, and school systems that affirm lawlessness and immorality in the schools will be alive and well in the black community. An illiterate ebonics-speaking woman named “something-esha” is not gonna be at the top of the resume’ pile. Sadly, so many good black folks get painted with this brush, and it’s unfair. “Feral” blacks understand what they are doing wrong, but they don’t care. They have become uncivilized. Politicians like them because they 1) vote as a single block, 2) are easy to fool, 3) they don’t learn fast, 4)they just want “more stuff” which politicians love to throw at them in speeches, and bellicose repartee; but no action. But again…see #2.

December 23, 2011 at 10:42 pm | Reply | Report comment

Bill Brennan

if the shoe fits…

December 23, 2011 at 10:43 pm | Reply | Report comment

Joe

Now that’s a funny line.

December 24, 2011 at 2:20 am | Reply | Report comment

I guess ignorance is a virtue

People are getting hurt or injured bad because of a pair of stinkin air jordan shoes, ill be damned if i will buy a pair of these shoes that are prob made in China, Yes i said China!! What a bunch of a ..holes …. Ok they have bought the shoes , 6 or 7 months later they will be in the trash , how ignorant and stupid can ppl be ?

December 23, 2011 at 10:47 pm | Reply | Report comment

NowSwimBack

The Civil Rights Act was a great idea, wasn’t it? If they’re not in your neighborhood, they will be soon. Enjoy ‘em.

December 23, 2011 at 10:50 pm | Reply | Report comment

REAL STUPIDITY

REALLY? 180.00 FOR STINKIN SHOES

December 23, 2011 at 10:51 pm | Reply | Report comment

brutesforce

Baby needs a new pair of shoes.

December 23, 2011 at 10:52 pm | Reply | Report comment

rusty the right wing nut

PS F&CK U DEtroit and your pos Lions cause they suck too!!!!!

WE need to bulldoze that big a$$ ghetto down look Like a Fu%% bomb went off in that citty

December 23, 2011 at 10:57 pm | Reply | Report comment

Uncle Remus

Dang freakin’ kneegroes (sic)…… they wouldn’t fight this hard for the last job on earth …unless it was a bank job/heist…

December 23, 2011 at 11:18 pm | Reply | Report comment

Kim Bailey

“Wild savages must be caged and returned to Africa” Said a Mall security guard

December 23, 2011 at 11:23 pm | Reply | Report comment

Richard Jones

Those “shoppers” all look like obamas. Down here in Texas we don’t let obamas get away with that kind of behavior.

December 23, 2011 at 11:46 pm | Reply | Report comment

james

We need to bring back segregation. Blacks are not fit to live in a civilized society. It was obvious then, and it’s obvious now.

December 23, 2011 at 11:52 pm | Reply | Report comment

retired

they just happen to be 99.9% black…. just a frkkin coincidence…

December 23, 2011 at 11:55 pm | Reply | Report comment

Jim Burke

Wow………..

When I first saw the film footage I was away from the monitor and couldn’t hear the audio. I thought it was footage of people scrambling for an airplane food drop in Biafra.

December 24, 2011 at 12:08 am | Reply | Report comment

Jim Burke

Next year require a pay stub for purchase rights.

December 24, 2011 at 12:09 am | Reply | Report comment

ryan

Aren’t these people the 99%?

December 24, 2011 at 12:10 am | Reply | Report comment

Joe G

All blacks in North America need to be either shot or deported. Like Baboons, blacks can’t help acting the way they do. They’re born that way. I just don’t want them roaming the streets in North America. Blacks have made every city in which they are the majority unlivable for white families. White people would be much better off without them.

December 24, 2011 at 12:12 am | Reply | Report comment

William Baranowski

‘gro footsies.

December 24, 2011 at 12:13 am | Reply | Report comment

Joe

These are the same people that will do everything in their power to keep their leader in power. Are these the first of obozos brown shirts?
TAKE BACK AMERICA 2012

December 24, 2011 at 12:20 am | Reply | Report comment

Liberal_Stupidity

When you got a radical leader that is the most negative prez America has experienced it just give permission for eveyone like hime to behave in the exact same way. I hope America is watching and uses thier vote next year to cut the head off the snake in DC

December 24, 2011 at 12:21 am | Reply | Report comment

Joe Blow

Forget about color. These are democrats!

December 24, 2011 at 12:34 am | Reply | Report comment

Cigars Andscotch

Exactly what I had expected. The crimes were committed by a bunch of white soccer moms…….oh, wait a minute

December 24, 2011 at 12:52 am | Reply | Report comment

Jerry Frey

PHILADELPHIA — Mayor Michael A. Nutter, telling marauding black youths “you have damaged your own race,” imposed a tougher curfew Monday in response to the latest “flash mob” — spontaneous groups of teens who attack people at random on the streets of the city’s tourist and fashionable shopping districts.

“Take those God-darn hoodies down, especially in the summer,” Mr. Nutter, the city’s third black mayor, said in an angry lecture aimed at black teens. “Pull your pants up and buy a belt ‘cause no one wants to see your underwear or the crack of your butt.”

“If you walk into somebody’s office with your hair uncombed and a pick in the back, and your shoes untied, and your pants half down, tattoos up and down your arms and on your neck, and you wonder why somebody won’t hire you? They don’t hire you ‘cause you look like you’re crazy,” the mayor said. “You have damaged your own race.”

http://napoleonlive.info/did-you-know/violence-2/

December 24, 2011 at 12:54 am | Reply | Report comment

White people are really "Pink"

Funny how we have all forgotten the fights and brawls that folks with “Pink” skin had over Tickle Me Elmo dolls and few years back at Christmas time. Funny, I don’t recall any Black folks calling them fighting “Pink” skinners names such as “animals”. Is name calling and hate mongering inbred into the “Pink” race???

December 24, 2011 at 1:00 am | Reply | Report comment

Annie

“Pink” people, mostly women tend to pull out each others hairs over bridal discounts like at Filenes annual bridal sale. “Pink” men and soccer moms tend to scream, name call and sometimes just lose it- and society comes down on them hard. Black thugs take out switch blades, stab, shoot and kill others over a $100 pair of sneakers. Even African honey bees have a propensity toward deadly swarming. Face it and act (or DONT act) accordingly.

December 24, 2011 at 1:31 am | Reply | Report comment

RicardoCabeza

The negro continually and always acts in an ignorant manner it is the curse of the colored race the joyful embrace willful ignorance.

December 24, 2011 at 4:34 am | Reply | Report comment

jon

I checked the facts, their were no shootings, breaking into the stores or fighting with police over tickle me Elmo dolls. There also are no people with pink skin.

December 24, 2011 at 5:19 am | Reply | Report comment

Todd P.

And EVERY SINGLE ONE of these simpletons VOTED FOR OBAMA!! (if they voted at all) Time to set a time limit (# of years) on welfare benefits. If you can’t make it by then, it’s time to beg for charity from a relative, friend, or church………

December 24, 2011 at 1:34 am | Reply | Report comment

Chaco

The Japanese go through a Sunami and near nuclear meltdown with less turmoil than these dopes fighting over some stupid ghetto fashion statement.

December 24, 2011 at 1:46 am | Reply | Report comment

sonic

Bet most there were on welfare and WE paid for those ugly sneakers. Ignorant slobs

December 24, 2011 at 1:52 am | Reply | Report comment

Billy Bob

Those shoes would look good on a 250 pound rapper.

December 24, 2011 at 1:59 am | Reply | Report comment

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NavyOne

A Navy guy’s take: http://themellowjihadi.com/2011/12/24/shoeblogging/

December 24, 2011 at 2:16 am | Reply | Report comment

David Rutstein

Terrible, how we have to end Obama’s term and end this free lunch. http://www.beyondquotes.com/marijuana. You can see the result of illegal drugs and welfare.

December 24, 2011 at 2:22 am | Reply | Report comment

Fatima

Lord, save us from people who pepetuate negative stereotypes. Tsk, just too bad people cannot get out of their own way and want to blame others for their poor outcomes in life.

December 24, 2011 at 2:23 am | Reply | Report comment

jon

The people that perpetuate negative stereotypes are blacks themselves. Go to Drudge Report and see that blacks have rioted over these shoes in every major city where this sale has been offered. How many example of the same behavior does it take for you to wake up and smell the java beans?

December 24, 2011 at 5:16 am | Reply | Report comment

Panz

What happened to the Civil Rights leaders and participants? If you look back at photos of those people, their heads were always held high, they knew there was a better America and they were helping to create it.

Then along came the liberal programs, blacks were given handouts and special treatment and this is the outcome. A bunch of animals fighting over ugly shoes. Shoes! sneakers! They aren’t even decent shoes, just sneakers–you’ll wear them untied so they flop around on your feet.

You can’t speak English, merely ghetto slur. You can’t pull up or zip up your pants, you can’t tie your shoes–you’re just not smart enough. And yes, your trashy president encourages this behavior. You’re much easier to manage when you’re just a bunch of animals to be poked and prodded as necessary.

There are African Americans in this country and then there is you. Wake up and look at yourself. All that for a pair of sneakers?? Really stupid.

December 24, 2011 at 2:39 am | Reply | Report comment

Toxic Avenger

It looks like a negro sneaker frenzy.

December 24, 2011 at 2:46 am | Reply | Report comment

Ramon

Well, Well … Obama supporters at their finest! (lol)

December 24, 2011 at 3:07 am | Reply | Report comment

justified

A thinking person asks themselves, “What are you going to DO about it?” Are you going to support the Democratic borne Welfare culture, that led directly to this mess, or are you voting against their candidates by electing viable candidates i.e. GOP candidates.

Not Independents, as on a State or Federal level a vote THIS TIME for an Independent is a vote for the End of America as we know it. The debt piling up will kill us or the Taxes will.

ATTENTION: Blue Dog Democrats, the DNC/Obama has stated ‘YOU are NOT in our Future plans.’

December 24, 2011 at 4:24 am | Reply | Report comment

John McCombs

Michael Jordan and Nike should be held accountible for this atrocity. If gun manufacturers are at fault for gun crimes, then Michael Jordan and Nike should be made to suffer for this chimpout. On a serious note, however, wouldn’t a statement from Michael Jordan go a long, long way toward reducing the violence. If he simply said, “Really folks, are you serious? You’re going to hurt each other over a pair of overpriced basketball shoes?” But no, MJ doesn’t have it in him because as long as there is an extra nickel to be drained from his peeps, he’s perfectly OK with the violence. Well done, Mike. Well done.

December 24, 2011 at 4:29 am | Reply | Report comment

A.K.

NEGRO’S ARE ENORMOUSLY STUPIDLY VIOLENT…IT’S A BRAIN SIZE THING!

December 24, 2011 at 4:48 am | Reply | Report comment

jon

If you went to Drudge you would see the ugly side of blacks is nation wide and not just a local thing. What a shameful culture they have created amongst themselves

December 24, 2011 at 5:13 am | Reply | Report comment

Lordrobot

Illegitimate Baby needs a new pair of shoes….

December 24, 2011 at 5:16 am | Reply | Report comment

Artic Slayer

lol nuttin like obama people tryin to save the food
stamps fo sumpin like this mo impotant huh…
Oh Sorry was I a little racist….

naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa Just the
facts…

Doubt me? Just correct me and I will call you RACIST! lol

You LOOSERSSSSSSSSSSSSSSSS.

I didn’t vote for obama last time but this time I am
going to vote for him…. I think he is the best thing
for America in recent history… WONDERFUL! 4 more years
and this country will be purged of a corrupt congress and
senate because the people are going to purge every
politician out by civil war…. There will be unrest like
never seen in America. Because now Americans believe that
good is bad and bad is good. Once this country goes even
further to hell in a hand basket there will be a
purging… When Americans can’t say “Merry Christmas”
because good is bad and once they can’t store more than
seven days worth of food because good is bad and once
they can’t own a gun because good is bad….. There will
be a purging of the bad by the good! So lets pull
together and re-elect this person…. OBAMA2012!

December 24, 2011 at 5:43 am | Reply | Report comment

John Scott

lol nuttin like obama people tryin to save the food
stamps fo sumpin like this mo impotant huh…
Oh Sorry was I a little racist….

naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa Just the
facts…

Doubt me? Just correct me and I will call you RACIST! lol

You LOOSERSSSSSSSSSSSSSSSS.

I didn’t vote for obama last time but this time I am
going to vote for him…. I think he is the best thing
for America in recent history… WONDERFUL! 4 more years
and this country will be purged of a corrupt congress and
senate because the people are going to purge every
politician out by civil war…. There will be unrest like
never seen in America. Because now Americans believe that
good is bad and bad is good. Once this country goes even
further to hell in a hand basket there will be a
purging… When Americans can’t say “Merry Christmas”
because good is bad and once they can’t store more than
seven days worth of food because good is bad and once
they can’t own a gun because good is bad….. There will
be a purging of the bad by the good! So lets pull
together and re-elect this person…. OBAMA2012!

December 24, 2011 at 5:49 am | Reply | Report comment

Steven Travis

What’s the one common denominator in all this????

December 24, 2011 at 5:59 am | Reply | Report comment

Vince

The big question is why isn’t OBAMA speaking out on this issue??? He manages to find time to speak out if a white police officer is ACCUSED of racism when he restrains a black “professor” from breaking into his house. Remember that? Without knowing the facts he JUMPS and gives a speech. But incidents like these teenage hoodlums who rob, beat up, and steal every day he says NOT A WORD about. This is Obamanation. I hope those of you who voted for him are happy now.

December 24, 2011 at 6:06 am | Reply | Report comment

Cisco

Gorillas In The Mist!

December 24, 2011 at 6:25 am | Reply | Report comment

feduptoo

Not so, they take care of their young!

December 24, 2011 at 8:56 am | Reply | Report comment

McGruff

I immediately wondered if my suspicion would be correct … and it was.

December 24, 2011 at 7:21 am | Reply | Report comment

gwbnyc

“under a gift tree”

A GIFT TREE?

Cowards.

December 24, 2011 at 7:46 am | Reply | Report comment

Gustafus21

These are farm animals — who were given human rights — and they behave as farm animals.

Look what Venus Williams has done to tennis? – She threatens to ‘rearrange the face” of a line judge?

They should have been exterminated. Or forced breeding with whites could have produced something more benign like O and family…. but ONLY white genes can influence these vermin

December 24, 2011 at 7:47 am | Reply | Report comment

Barry bin Inhalin

I saw the headline and didn’t even wonder.

December 24, 2011 at 7:55 am | Reply | Report comment

Patrick Nugent

EVERYBODY SING: “We won’t go until we get some, we won’t go until we get some, we won’t go until we get some, so bring it right here!”

December 24, 2011 at 7:59 am | Reply | Report comment

ShoeShine

What’s with these people and shoes???

December 24, 2011 at 8:16 am | Reply | Report comment

Greg

I didn.t see any white people ni the crowd? Only Blacks ??? What a violent group of people, they need to get civilized.

December 24, 2011 at 8:33 am | Reply | Report comment

Mike_in_Kyiv

Pure silliness! No gift is worth this! I remember the Cabbage Patch moms who were fighting to get one of those ugly little dolls a few years back. Now it’s a pair of shoes that are not – REPEST – NOT worth all that money and you all make fools of yourselves. Shame on you on our Lord’s birthday.

December 24, 2011 at 8:44 am | Reply | Report comment

Grape Ape

Rev Al Sharpton’s take on this news: “Da reason fo all deez people running amuck and fightin’ and actin’ unruly is because da white man and society, namely Republicans in da Congress, are gettin’ in the way of President Obama’s plan to hand out more free monies into the minority community. It’s also the blame of rich White communities across America who aren’t willing to spread more of their wealth and make sure it goes into da hands of inner cities and African-American communities. Think about it…if these fine, upstanding customers had more monies at their disposal, they could have paid some illegal aliens to stand in line for them to buy these items which they desperately need and wouldn’t have to get into fights in da first place.”

Rev. Jesse Jackson’s take on this news: “The EVIL corporations run by WHITE men are to blame for this terrible atrocity!! Therefore, with all my graciousness and good-will, I am planning to sue Nike shoes (for not supplying enough sneakers), Michael Jordan’s white lawyer (because I can’t sue a good brother like MJ!), the WHITE mall security who employed brutal tactics against these innocent customers, and last but not least… my Rainbow Coalition will make sure these businesses are not only selling enough items to African-American shoppers but will also ensure that they are hiring enough minorities in their stories. And I will say this, if our investigation turns up that they aren’t, we will take them over and my son Jesse Jr and I will make sure that they are run fairly. Plain and simple. It’s time to put an end to this WHITE tyranny in America once and for all!!!”

December 24, 2011 at 8:48 am | Reply | Report comment

Death of America

Black people are uncivilized savages. They are the only race that needs to be coddled and treated like little babies. It’s not a “white vs. black” thing – NO other race likes blacks. Disgusting beasts who belong in the freaking jungle, period. Thank you LBJ and all you other POS democrats.

December 24, 2011 at 8:44 am | Reply | Report comment

Albert L. Peia

Yes...it's absolutely, unequivocally true that blacks are inherently uncivilized and in evolutionary terms, only evolved to a point ( http://albertpeia.com/anthroindex1.htm ). They are themselves racist, intolerant, hypocritical [ UPDATE: MORE CLAIMS OF RACE BIAS AT HOLDER JUSTICE DEPARTMENT... (WP) ignore cases that involve black defendants and white victims ' ], and prone to violence as with any feral animal. Moreover, I must admit that I find their simian look repulsive; and, even before totally realizing the foregoing reality owing to self-destructive egalitarian propaganda, never did and never would know a black female in the biblical sense (despite their ‘intrusively easy availability’ - not a matter of skin color inasmuch as I have ‘known biblically’ red-Indian, brown-Hispanic, yellow-Oriental women). Wobama the b for b***s*** is a typical, jive-talking 'n-word' and consequently an abject failure as president. I was fortunate to have no blacks whatsoever in my schools (schooling) through high school.

 

http://www.albertpeia.com 

http://www.albertpeia.com/todayspage.htm   

 

MELEE AT MALL OF AMERICA...
Man beaten by robbers -- who stole new Air Jordan sneakers off his feet!...

Hundreds of Teens Run Wild After Rumors That Rappers 'Lil Wayne, Drake Are There...
VIDEO: Mayhem, Screams...
California soldier shot at his homecoming party [ From one war zone to another!  ]
Islamists kill dozens in Nigeria Christmas bombs [ Blacks’ black Christmas! Typical! ]
For ‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I believe the under-profiled black serial killer is also the consequence of their proclivity for and love of killing, random, for no reason other than for the sake of killing (which distinguishes them from and positions them below other feral beasts) and otherwise, and an historic predisposition toward canabalism. After all, the contra-indicated mainstream view (tv and otherwise) calls for a white perp in terms of ‘profile’ which is of course, ridiculous. I believe the under-reporting is owing to multiple killings by blacks being classified as something other than ‘serial’; ie., gang, gang related, ‘typical’, etc.. Moreover, the anti-white bias of the black perps is also a reality that’s under-reported. Take a look at the following brutally uncivilized black on white violent rapes/murders:

http://www.albertpeia.com/whitesvictimizedbyblacks.htm 


The following’s just Detroit, MI:

Black Serial/Mass/Spree Killer List:
1. Matthew Emanuel Macon (Murdered and Raped 5 White Women in Lansing)
2. Jimmie Reed (Murdered his wife and his 2 month old daughter and set them on fire)
3. Shelly Brooks (Murdered 7 prostitutes in Detroit Cass Corridor)
4. Justin Blackshere (Stabbed two white cooks at Cheli’s Chili downtown Detroit)
5. Jervon Miguel Coleman (Murdered three people.)
6. Donell Ramon Johnson (Murdered a mother and a daughter)
7. Brian Ranard Davis (6 women known murdered by nigger)
8. Paul Durousseau (Seven women)
9. Mark Goudeau “The Baseline Killer” (Eight women and a man in 2005-2006)
10. Coral Eugene Watts (11 women in Texas & 1 in Michigan)
11. Anthony McKnight (Five girls and young women)
12. Derrick Todd Lee (8 Women)
13. Charles Lendelle Carter (4 known murders; admits to ‘hunting’ Atlantans for 15 years!)
14. The Zebra Killings (71 White people)
15. Chester Turner (L.A.s most prolific killer 12 women killed.)
16. Lorenzo J. Gilyard (Kansas City, MO.—13 victims)
17. Eugene Victor Britt (Gary, IN.–3 known murder/rapes.)
18. Reginald and Jonathan Carr (The Wichita Massacre–6 Whites murdered)
19. Ray Joseph Dandridge and his uncle, Ricky Gevon Gray (Richmond, VA.–Murdered 7 people in 7 days, including an entire White family.)
20. The Tinley Park Murderer (Suspect hasn’t been found but has been described as black – murdered 5 women in a store.)
21. Henry Louis Wallace (Raped and strangled 5 women to death.)
22. Charles Johnston (Murdered 3 unarmed white men in hospital)
23. Craig Price (Brutally murdered 3 women)
24. Harrison Graham (Brually Murdered 3 women)
25. Charles Lee “Cookie” Thornton (Murdered 6 Whites at the Kirkwood, MO. city council. )
26. & 27. Darnell Hartsfeld & Romeo Pinkerton (Abducted and Murdered 5 from a restaurant)
28 &29. John Allen Muhammad & Lee Boyd Malvo (Sniped 11 people from a car in DC, 9 died.)
30. George Russell (3 women, WA state)
31. Timothy W. Spencer (5 killed, Arlington, VA and Richmond, VA)
32. Elton M. Jackson (12 gay men killed, Norfolk, VA area)
33. Carlton Gary (3 killed in Columbus, GA)
34. Mohammed Adam Omar (16 women, Yemen. Omar is Sudanese.)
35. Kendall Francois (8 women, Poughkeepsie, NY and surrounding areas.)
36. Terry A. Blair (8 women, Kansas City area)
37. Wayne Williams (33 many of them children!, Atlanta, GA)
38. Vaughn Greenwood (11 killed in LA)
39. Andre Crawford (10 killed in Chicago – southside)
40. Calvin Jackson (9 killed possibley more in NY)
41. Gregory Klepper (killed 8, Chicago – southside)
42. Alton Coleman (Killed 8 in the Midwest)
43. Harrison Graham (killed 7+ in N. Philadelphia)
44. Cleophus Prince (6 killed in, San Diego
45. Robert Rozier (7 killed in, Miami)
46. Maurice Byrd (killed 20 + in St. Louis)
47. Maury Travis (17 and rising, St. Louis and possibly also Atlanta)
48. Hulon Mitchell, a.k.a. Yahweh Ben Yahweh (killed 20+ in Florida)
49. Lorenzo Fayne (killed 5 children in East St. Louis, IL)
50. Paul Durousseau, (killed 6, two of which were pregnant women, Jacksonville, FL; Georgia.)
51. Eddie Lee Mosley (killed 25 to 30 women, south Florida)
52. Henry Lee Jones (killed 4 in, south Florida; Bartlett, TN)
53. Richard “Babyface” Jameswhite (15 killed in, New York; Georgia.)
54. Donald E. Younge, Jr. (killed 4), East St. Louis, IL; Salt Lake City, UT.
55. Ivan Hill (killed 6 in Los Angeles area).
56. Michael Vernon (Bronx, NY. Killed at least seven people – )
57. Chester Dewayne Turner (12 women killed in, Los Angeles)
ARREST MADE IN LOS ANGELES GRIM SLEEPER SERIAL KILLER CASE July 07, 2010 http://articles.cnn.com/2010-07-07/justice/grim.sleeper.arrest_1_lonnie-david-franklin-serial-killer-case-family-members?_s=PM:CRIME  |By Mallory Simon, CNN ‘Authorities in California said Wednesday they have arrested a suspect in the Grim Sleeper serial killer case and will charge him with 10 counts of murder.Lonnie David Franklin Jr., 57, faces an additional count of attempted murder, Capt. Kevin McClure with the Los Angeles Police Department said.Franklin will arraigned in court Thursday morning, McClure said.The California Attorney General's office attributed the arrest to DNA collected from a relative of the suspect, in a controversial and rarely used practice known as familial DNA search.’
Of Course There Are Black Serial Killers by Lynette Holloway on  July 15, 2010 The case of the "Grim Sleeper" inspires a second look at the popular perception that serial killing is the province of clever white men.
Serial Murderers' Row July 16, 2010 The following black men are among the most prolific serial killers in U.S. history. http://www.theroot.com/multimedia/gallery-meet-6-black-serial-killers 
Plus: Behind the myth that only white men commit such crimes.
Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html
200 Involved In Fights At Mall Of America After Rumors That Rappers Are There...

 

 

 

Fox News’ Chris Wallace Has an Anti-Ron Paul Agenda  Yahoo! Contributor Network | Andrew Sullivan called for Chris Wallace to recuse himself from the Iowa debate. [ Yes, he should recuse himself; and not just because he’s pro-israeli jewish himself; and we all know how the misguided israeli lobby feels about Ron Paul’s American interests first foreign policy leanings and their excluding him from their sponsored debate. ]

 

 

Current Events Summarized In Brilliant Art  George Washington 12/16/2011 A picture is worth a thousand words  [ View archived file: http://www.albertpeia.com/currenteventsinart.htm  ]

 

 

 

 

Wayne Madsen: Holder’s Fast & Furious was Designed to Destablize Mexican Government Infowars Nightly News | ‘Wayne Madsen has learned from his contacts within the Beltway intelligence community that Jared Lee Loughner is an “MK-ULTRA” programmed assassin and that US District Judge John Roll and Congresswoman Gabriel Giffords were targetted for assassination.The reason for the decision to target Judge Roll and Congresswoman Giffords has to do with their knowledge of the malicious and purposeful arming of Mexican drug gangs along the US-Mexico border by US intelligence agency assets in an effort designed to destablize the Mexican government.This towards the end of making Mexico more dependent on US military aid and protection from its private security contractors.A key quote from Wayne Madsen’s report follows:

“WMR has been told that in 2009, information about the CIA/Homeland Security/Napolitano smuggling operation came to the attention of three individuals, two members of Congress and a federal judge. The three were Arizona Democratic Representatives Giffords, Republican Representative Mike Conaway from west Texas, and Judge Roll. Giffords and Roll were working together on investigating the extent of the clandestine weapons and druigs smuggling operation and held some joint meetings with informants, one in north Phoenix, in 2009.Information on the investigation and informants was strictly limited to only a few trusted staffers and clerks for Giffords and Roll. In addition, Conaway was also being briefed by informants on the smuggling operation but since the death of Roll and the severe mental and physical incapacitation of Giffords from the shooting carried out by Jared Lee Loughner, said to be an MK-ULTRA-like trained assassin, he has gone silent in fear for his own safety.Loughner’s was declared mentally incompetent and there are reports, including one in Slate Magazine, that the U.S. Medical Center for Federal Prisoners in Springfield, Missouri, where Loughner is being held, pending a determination of his mental fitness to stand trial, is being administered psychotropic drugs in his Kool Aid.In addition to receiving drugs to fund its off-the-books operations, the CIA weapons smuggling program is designed to arm the two main Mexican cartels — Sinaloa and Los Zetas — in order to destabilize Mexico.

 

 

Cheney: Obama Should Have Attacked Iran to Destroy Drone Kurt Nimmo | Violating Iran’s sovereignty to take out a CIA spy drone is doable for the former vice president.  [ War criminal cheney is absolutely, totally, criminally insane. He truly is a psychopath of the ‘new american mold’ and indicative of the decline and fall of the nation just like that of ancient (and even current, for other reasons) rome. He is so pathetic in trying to still be relevant in his criminally insane way! ]

 

Israel stole weapon-grade uranium from US, report will show Daily Star | Report will show evidence Israel stole weapons-grade uranium from nuclear reprocessing plant in Pennsylvania. Kristin Dailey December 8, 2011 WASHINGTON: A U.S.-based research institute will soon publish what it says is “indisputable” evidence that Israel stole weapons-grade uranium for its still-undeclared atomic weapons program from a nuclear reprocessing plant in western Pennsylvania. The Institute for Research: Middle Eastern Policy (IRmep) will release this month a 300-page report detailing the initial findings of a multi-year research project investigating the disappearance of highly enriched uranium from the Nuclear Materials and Equipment Corporation (Numec) in Apollo, Pennsylvania in the 1950s and 1960s. Grant Smith, the director of IRmep, told The Daily Star that the report would include a broad range of newly declassified and un-redacted government documents from various agencies – including the Department of Energy, Atomic Energy Commission, FBI and CIA – that prove that nuclear material was diverted from Numec to Israel. “The story at this point is that there is no one smoking gun; there are many smoking pistols lying all over the place that we’ve painstakingly collected,” Smith told The Daily Star.’

 

 

DHS Shut Down Blog For A Year On False Pretenses Paul Joseph Watson | Homeland Security is seizing websites for “copyright infringement” with no evidence. Paul Joseph Watson Prison Planet.com December 9, 2011

In a chilling illustration of how far Internet censorship has advanced, the Department of Homeland Security seized a popular music blog and shut down the website for over a year on charges it now admits were completely false.

 The website in question – www.dajaz1.com – was not some obscure, dubious blog – it was a popular platform for DJ’s that was once featured on MTV.

“Around Thanksgiving 2010, the Department of Homeland Security seized more than 70 domains with no trial, accusing them of copyright infringement,” reports the San Francisco Chronicle.

Dajaz1.com was caught in the dragnet after DHS claimed four songs  the website were used without permission, when in fact the musicians and publicists concerned had sent the tracks directly to Dajaz1 with express authorization.

That didn’t stop Homeland Security from seizing and shutting down the blog for over a year, violating the law by refusing to tell its owner why the website was taken and subsequently missing the 90 day deadline for explaining why the owner should forfeit the property permanently.

“Or at least that’s what the owner assumed when he heard nothing. Then the court told him that the government got an extension.”

“But the owner couldn’t see the extension because all the filings in the case were sealed, and was not allowed to testify in court to ask for his property back, says TechDirt.”

The saga finally came to a close when the owner was handed back control of the website only yesterday.

The lesson to take from this is that Homeland Security can now just claim your website contains copyrighted material with no evidence whatsoever and seize it without any recourse.

“This whole thing has been a disgrace by the US government, starting with a bogus seizure, improper and illegal censorship, followed by denial of due process and unnecessary secrecy,” reports TechDirt.

 The DHS has already seized dozens of websites merely for linking to copyrighted material, despite the fact that such material isn’t even hosted on the website itself, a process the Electronic Frontier Foundation has criticized as, “Blunt instruments that cause unacceptable collateral damage to free speech rights.”

The targeted website, now finally back in the hands of its rightful owner, has become a poster child for the anti-Internet censorship movement. The front page of the site urges readers to oppose the Protect IP Act, legislation that will give the government even more power to block websites by creating an official blacklist.

As we reported back in October, the bill that has attracted bi-partisan support in the House will force Internet Service Providers to create a list of banned websites and prevent their users from accessing the sites, creating a Chinese-style ‘ban list’ that could easily be abused to silence free speech. Lawmakers like Senator Joe Lieberman have teamed up with Department of Homeland Security officials to push draconian legislation in an effort to mimic the Communist Chinese system of policing the Internet.

“A service provider shall take technically feasible and reasonable measures designed to prevent access by its subscribers located within the United States to the foreign infringing site (or portion thereof) that is subject to the order, including measures designed to prevent the domain name of the foreign infringing site (or portion thereof) from resolving to that domain name’s Internet Protocol address,” states the bill.

Given the fact that the U.S. government is now ordering You Tube to remove videos that contain “government criticism,” the potential for this legislation to be abused to silence political free speech is clear. Add to that the fact that Verisign, the global authority over all .com domain names, is demanding the power to terminate websites deemed “abusive” when ordered to by government without a court order or any kind of oversight whatsoever, and the threat to web freedom is clear.’

 

Confirmed: ATF Plotted to Use Fast And Furious To Demonize Second Amendment Paul Joseph Watson | “ATF created the problem so they could be the solution to it”.

 

NBC News Content To Be Provided By Billionaire Obama, MoveOn Donors Steve Watson | Powerful special interests masquerading as partisan media.

 

Detention Camp Order Follows Preparations For Civil Unrest Paul Joseph Watson | KBR seeks sub-contractors to outfit “emergency environment” centers.

 

Exclusive: Government Activating FEMA Camps Across U.S. Kurt Nimmo and Alex Jones | Email reveals KBR call for bids to add services to internment camps.

 

Putin harks back to Cold War 20 years on AFP | [ Come on! Don’t be ridiculous! If this was one isolated incident, well, maybe. But the fact is this is unmistakably global american policy; albeit primative and yes, hearkening back to the cold war years, and conflicts, so longed for by the military industrial complex (and yes, the cia is part of that war mongering, chaos loving/creating nefarious entity – for maintaining/increasing budgets/corporate welfare).]  Accusations by Vladimir Putin that the United States is funding poll monitors to spark protests in Russia mark a return to the rhetoric of the Cold War.

 

Iowa Poll: Only Ron Paul Can Beat Obama Steve Watson | Congressman proves he’s a “big cat” in the fight for GOP nomination. [ This is true! Why? Because ultimately the realization will set in that the other republican candidates are just more of the same, except that they’ll be inclined to give even more breaks to the 1% and military industrial complex (warned against by the great but substantially underrated President General Eisenhower) that got us to this forlorn point! ]

 

Donald Trump Dismisses Ron Paul as “Joke Candidate” Kurt Nimmo | Millions of Americans support Paul’s call for ending foreign aid. [ Yet it’s trump who is the big joke (which makes america look like a bigger joke)! He’s a caricature at best, and the joke that keeps on giving (SNL, etc.), and a government-protected mobster. ‘When they’re losing, they can afford to be principled’ says corrupt mobster trump regarding the snubbing of his ‘less than moderation’ of an upcoming debate in Iowa by the remaining principled GOP contenders. In reality, it’s actually ‘when you’re winning, you can afford to be principled’. But, in trump’s corrupt, sordid, sinkhole habitat, the former is indeed his truth. If you’re principled, you’re losing in trump’s rather surreal unreality. After all, pervasively corrupt and unprincipled america is indeed losing; and, big-time at that. That trump is a megalomaniac, a narcissist, and, yes … a loser, there is no question. Indeed, anyone who ‘wins’ unfairly (corruption, etc.) at others expense (ie., as does himself, the frauds on wall street, etc.) is a loser. Unfortunately, such modus operandi, including that which is criminal, has been accorded protection and respect in defacto bankrupt america, much like the ‘protected’ (bribes, etc.) common drug dealer (america, see infra), pimp, etc.. Then there’s the endearing (to a dumbed down american public) hype! That cloyingly cutesy ‘the donald’ routine is nauseating; but, that’s the natural, visible concomitant to a nation in ineluctable decline! On a positive note, megalomaniac trump will not be able to retread the path of his role model / idol Adolf Hitler as head of state. He’s really quite a joke when you think about it; and a mentally ill one at that; ask Steve Wynn, he’ll tell you, he’s already said it.

 

‘Pizza with palin’, ‘town hall of fame with Bachmann’, trump purports to be at least ‘alcohol free’ (the alleged cause – I don’t think so – of mobster trump’s elder brother’s suicide); but is he ‘med-free’? … there must be something to account for his madness (he’s a psychopath who used to play Hitler speeches for inspiration). Ron Paul Slams Trump, Joins Huntsman In Sitting Out ‘Circus-Like’ Debate Business Insider | The reality television star’s participation is “beneath the office of the Presidency.”

 

Trump to moderate GOP debate This won’t end well. (Washington Post) [ Goes without saying… of all people to choose … Why not Jerry Springer?… ‘Non-celebrity Apprentice’, the new reality show, as in who scratches whose back for favors down the road, as in quid pro quo, as in trump’s continued ‘graduation’ from commonly mob connected, to new york/new jersey politically sordid sinkholes, to now failed washingtonian … ‘establishment’? Hasn’t trump’s rise coincided with the nation’s decline / demise? I’ve seen the corruption first hand! http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 Does regulation really kill jobs? (Washington Post) [ Just those corruption-related ones; those organized crime, as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’, bribes, etc., to go around. Energy Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I believe it’s time to start questioning what federal employees get paid for. After all, pervasively corrupt america is defacto bankrupt (  America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s total indebtedness is $211 trillion ) . Moreover, america’s pervasive corruption, even crimes,  has become synonomous with the machinations of any number of federal agencies / departments / all branches of government  (ie., DOJ – holder/fast and furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims , Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission destroyed documents and compromised enforcement case ...   Sen.Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ Report: SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a ‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were murdered by mafia / organized crime [ this was documented with authority in ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] SEC faulted over records shredding The SEC destroyed internal documents that should have been preserved as official federal records, the agency’s inspector general has found. (Washington Post) [ Oh, if it was only that, and only the SEC; and if only they did an incisive investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate   http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html   Paul Joseph Watson | Over two dozen Republicans call for Holder to resign. Though heavily redacted, the documents directly discuss “Operation Fast and Furious” and how it involves “trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm       

 

Misreading the Fight over Military Detention: The Obama Regime Has No Constitutional Scruples Paul Craig Roberts | The amendment permits indefinite detention of US citizens by the US military.

 

 

‘I’m attracted to young people’: Shocking details in scandal of ‘delusional’ Sandusky Mail Online | Penn State paedophile Jerry Sandusky’s rabbit hole goes even deeper and darker than we thought

 

 

 

Iran says oil would go over $250 if exports banned Reuters | Iran warned any move to block its oil exports would more than double crude prices.

 

D.E.A. Launders Mexican Profits of Drug Cartels NY Times | Undercover American narcotics agents have laundered or smuggled millions of dollars in drug proceeds.

 

 

 

 

Romney visits former President George H.W. Bush [ How totally pathetic! How desperately pathetic romney the flip-flop is! ]

 

 

Woman “imprisoned” on Scientology cruise ship for 12 years { Scientology is such a total fraud, and founded by that fraudster/mental case l ron hubbard. In retrospect, fraud/mental infirmity is as american as ‘apple pie and mother-of-hoods’. } ‘...In an interview with the Australian Broadcasting Corporation's (ABC News) Lateline program, Paris claims that Church of Scientology leader David Miscavige sent her to the ship when she was 18 in order to prevent her family from pulling her out of the organization."I was basically hauled in and told that my mum had attacked the church and that I needed to disconnect from her because she was suppressive," she said. "He decided the ship, and I found out two hours before my plane left, I was woken up in the morning and I was sent to the ship for 'two weeks.' "Paris was born into a Scientology family, but her mother quit the group after her husband committed suicide, blaming Scientology for coercing him out of a self-made personal fortune of more than a million dollars.Instead of the promised two week stay, Paris found herself unable to leave the ship without an official Scientology escort and was often forced into hard labor on the lower levels of the ship for stretches as long as two full days. "It's hot, it's extremely loud, it's smelly, it's not nice. I was sent down there at first for 48 hours straight on almost no sleep and I had to work by myself," she said.So, why didn't Paris simply escape from the ship when it would take port? The Freewinds has a relatively small sailing route, traveling throughout the Caribbean and occasionally docking at small islands."I did not want to be there, I made it clear I did not want to be there and that was considered bad ethics, meaning it was considered not right," she said. "They take your passport when you go on the ship and you're in the middle of an island. So it's a bit hard [to escape] and by that time I was 18, I'd been in Scientology my whole life, it's not like I knew how to escape," she said…’

 

 

Ten Years Later, Enron Pales in Comparison

 

Horses could soon be slaughtered for meat in US Horses could soon be butchered in the U.S. for human consumption after Congress quietly lifted a 5-year-old ban on funding horse meat inspections, and activists say slaughterhouses could be up and running...{ Another ‘bullish’ sign for pervasively corrupt, defacto bankrupt America. ‘Soylent green’ just around the corner? [Things are looking very, very ominous: A good business for a bad economy Firms that keep foreclosed homes clean and secure are flourishing in these tough financial times.  (Washington Post) [ See … there you go … great times for the american optimist … who sees an opportunity in every calamity, the rainbow beyond every cloud, the glass half-full, etc.. Whew, close call … and we thought times were tough … and just when we thought everything’s now comin’ up roses, we find out that that ‘glue factory’ we thought was for horses is really a ‘soylent green’ (of the compelling film of the same name) factory. Ah, just kidding; but, the times are getting eerily sordid and desperate and there’ll be no real relief from the onslaught of reality prospectively. It’s really that bad in futuro. 43,454,601,693,238 Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock  Zero Hedge October 17, 2011 http://www.economist.com/content/global_debt_clock   Foreigners Sell Second Largest Amount Of US Bonds Ever In Past Week, Record $93 Billion In US Paper Sold In Past 2 Months Zero Hedge | Europe, and especially Germany has been just an active seller of sovereign bonds.]  }

 

 

30 Signs That The United States Of America Is Being Turned Into A Giant Prison The American Dream | If you live in the United States of America, you live in a giant prison where liberty and freedom are slowly being strangled to death. The American Dream Tuesday, November 29, 2011 'If you live in the United States of America, you live in a giant prison where liberty and freedom are slowly being strangled to death.  In this country, the control freaks that run things are obsessed with watching, tracking, monitoring and recording virtually everything that we do.  Nothing is private anymore.  Everything that you do on the Internet is being monitored.  All of your phone calls are being monitored.  In fact, if law enforcement authorities suspect that you have done something wrong, they will use your cell phone microphone to listen to you even when you think your cell phone is turned off.  In many areas of the country, when you get into your car automated license plate readers track you wherever you go, and in many major cities when you are walking on the streets a vast network of security cameras and “smart street lights” are constantly watching you and listening to whatever you say.  The TSA is setting up “internal checkpoints” all over the nation, Homeland Security is encouraging all of us to report any “suspicious activity” that our neighbors are involved in and the federal government is rapidly developing “pre-crime” technology that will flag us as “potential terrorists” if we display any signs of nervousness.  If you are flagged as a “potential terrorist”, the U.S. military can arrest you and detain you for the rest of your life without ever having to charge you with anything.  Yes, the United States of America is rapidly being turned into a “Big Brother” prison grid, and most Americans are happily going along with it. The sad thing is that this used to be “the land of the free and the home of the brave”.So what in the world happened?A fundamental shift in our culture has taken place.  The American people have eagerly given up huge chunks of liberty and freedom in exchange for vague promises of increased security.Our country is now run by total control freaks and paranoia has become standard operating procedure.We were told that the terrorists hate our liberties and our freedoms, and that we needed to fight the terrorists so that we could keep our liberties and our freedoms.But instead, the government keeps taking away all of our liberties and our freedoms.How in the world does that make any sense?Have the terrorists won?As a country, we have moved so far in the direction of communist China, the USSR and Nazi Germany that it is almost impossible to believe.Yes, turning the United States of America into a giant prison may make us all slightly safer, but what kind of life is this?Do we want to be dead while we are still alive?Is this the price that we want to pay in order to feel slightly safer?Where are the millions of Americans that still yearn to breathe free air?America is supposed to be a land teeming with people thirsting for independence.  For example, “Live Free or Die” is supposedly the official motto of the state of New Hampshire.But instead, the motto of most Americans seems to be “live scared and die cowering”.We don’t have to live like this.Yes, bad things are always going to happen.  No amount of security is ever going to be able to keep us 100% safe.We need to remember that a very high price was paid for our liberty and we should not give it up so easily.As one very famous American once said, when we give up liberty for security we deserve neither.

The following are 30 signs that the United States of America is being turned into a giant prison….

#1 A new bill that is going through the U.S. Senate would allow the U.S. military to arrest American citizens and hold them indefinitely without trial.  This new law was recently discussed in an article  the website of the New American….

In what may be a tale too bizarre to be believed by millions of Americans, the U.S. Senate appears ready to pass a bill that will designate the entire earth, including the United States and its territories, one all-encompassing “battlefield” in the global “war on terror” and authorize the detention of Americans suspected of terrorist ties indefinitely and without trial or even charges being filed that would necessitate a trial.

U.S. Senator Lindsey Graham is a big supporter of the bill, and he says that it would “basically say in law for the first time that the homeland is part of the battlefield”.

According to the PPJ Gazette, the following are three things that this new law would do….

1)  Explicitly authorize the federal government to indefinitely imprison without charge or trial American citizens and others picked up inside and outside the United States;

(2)  Mandate military detention of some civilians who would otherwise be outside of military control, including civilians picked up within the United States itself; and

(3)  Transfer to the Department of Defense core prosecutorial, investigative, law enforcement, penal, and custodial authority and responsibility now held by the Department of Justice.

#2 U.S. Senator Joe Lieberman is asking Google to install a “terrorist button” on all Blogger.com blogs so that readers can easily flag “terrorist content” for authorities.

#3 Most Americans have no idea how sophisticated the “Big Brother” prison grid has become.  For example, in Washington D.C. the movements of every single car are tracked using automated license plate readers (ALPRs).  The following comes from a recent Washington Post article….

More than 250 cameras in the District and its suburbs scan license plates in real time, helping police pinpoint stolen cars and fleeing killers. But the program quietly has expanded beyond what anyone had imagined even a few years ago.

With virtually no public debate, police agencies have begun storing the information from the cameras, building databases that document the travels of millions of vehicles.

Nowhere is that more prevalent than in the District, which has more than one plate-reader per square mile, the highest concentration in the nation. Police in the Washington suburbs have dozens of them as well, and local agencies plan to add many more in coming months, creating a comprehensive dragnet that will include all the approaches into the District.

#4 In some American schools, RFID chips are now being used to monitor the attendance and movements of children while they are at school.  The following is how one article recently described a program that has just been instituted at a preschool in California….

Upon arriving in the morning, according to the Associated Press, each student at the CCC-George Miller preschool will don a jersey with a stitched in RFID chip. As the kids go about the business of learning, sensors in the school will record their movements, collecting attendance for both classes and meals. Officials from the school have claimed they’re only recording information they’re required to provide while receiving  federal funds for their Headstart program.

#5 Increasingly, incidents of misbehavior at many U.S. schools are being treated as very serious crimes.  For example, when a little girl kissed a little boy at one Florida elementary school recently, it was considered to be a “possible sex crime” and the police were called out.

#6 But what happened to one very young student in Stockton, California earlier this year was even worse….

Earlier this year, a Stockton student was handcuffed with zip ties on his hands and feet, forced to go to the hospital for a psychiatric evaluation and was charged with battery on a police officer. That student was 5 years old.

#7 In the United States today, police are trained to respond to even the smallest crimes with extreme physical force.  For example, one grandfather in Arizona was recently filmed laying unconscious in a pool of his own blood after police rammed his head into the flood inside a Wal-Mart on Black Friday night.  It was thought that he was shoplifting, but it turns out that he says that he was just trying to tuck a video game away so other crazed shoppers would not grab it out of his hands.

#8 Did you know that the government actually sets up fake cell phone towers that can intercept your cell phone calls?  The following is how a recent Wired articledescribed these “stingrays”….

You make a call on your cellphone thinking the only thing standing between you and the recipient of your call is your carrier’s cellphone tower. In fact, that tower your phone is connecting to just might be a boobytrap set up by law enforcement to ensnare your phone signals and maybe even the content of your calls.

So-called stingrays are one of the new high-tech tools that authorities are using to track and identify you. The devices, about the size of a suitcase, spoof a legitimate cellphone tower in order to trick nearby cellphones and other wireless communication devices into connecting to the tower, as they would to a real cellphone tower.

The government maintains that the stingrays don’t violate Fourth Amendment rights, since Americans don’t have a legitimate expectation of privacy for data sent from their mobile phones and other wireless devices to a cell tower.

#9 U.S. border agents are allowed by law to search any laptop being brought into the United States without even needing any reason to do so.

#10 In the United States of America, everyone is a “potential terrorist”.  According to FBI Director Robert Mueller, “homegrown terrorists” represent as big a threat to American national security as al-Qaeda does.

#11 Most Americans are not that concerned about the Patriot Act, but that might change if they understood that the federal government has a “secret interpretation” of what the Patriot Act really means.  U.S. Senator Ron Wyden says that the U.S. government interprets the Patriot Act much more “broadly” than the general public does….

“We’re getting to a gap between what the public thinks the law says and what the American government secretly thinks the law says.”

#12 The FBI is now admittedly recording Internet talk radio programs all over the United States.  The following comes from a recent article by Mark Weaver of WMAL.com….

If you call a radio talk show and get on the air, you might be recorded by the FBI.

The FBI has awarded a $524,927 contract to a Virginia company to record as much radio news and talk programming as it can find on the Internet.

The FBI says it is not playing big brother by policing the airwaves, but rather seeking access to what airs as potential evidence.

#13 The federal government has decided that what you and I share with one another on Facebook and on Twitter could be a threat to national security.  According to a recent Associated Press article, the Department of Homeland Security will soon be “gleaning information from sites such as Twitter and Facebook for law enforcement purposes”.

#14 What you say on your cell phone is never private.  The truth is that that the FBI can demand to see your cell phone data whenever it wants.  In addition, according to CNET News the FBI can remotely activate the microphone on your cell phone and listen to whatever you are saying….

The FBI appears to have begun using a novel form of electronic surveillance in criminal investigations: remotely activating a mobile phone’s microphone and using it to eavesdrop on nearby conversations.

The technique is called a “roving bug,” and was approved by top U.S. Department of Justice officials for use against members of a New York organized crime family who were wary of conventional surveillance techniques such as tailing a suspect or wiretapping him.

#15 In some areas of the country, law enforcement authorities are pulling data out of cell phones for no reason whatsoever.  According to the ACLU, state police in Michigan are now using “extraction devices” to download data from the cell phones of motorists that they pull over.  This is taking place even if the motorists that are pulled over are not accused of doing anything wrong.

The following is how a recent article on CNET News described the capabilities of these “extraction devices”….

The devices, sold by a company called Cellebrite, can download text messages, photos, video, and even GPS data from most brands of cell phones. The handheld machines have various interfaces to work with different models and can even bypass security passwords and access some information.

#16 The federal government has become so paranoid that they have been putting GPS tracking devices on the vehicles of thousands of people that have not even been charged with committing any crimes.  The following is a short excerpt from a recent Wired magazine article about this issue….

The 25-year-old resident of San Jose, California, says he found the first one about three weeks ago on his Volvo SUV while visiting his mother in Modesto, about 80 miles northeast of San Jose. After contacting Wired and allowing a photographer to snap pictures of the device, it was swapped out and replaced with a second tracking device. A witness also reported seeing a strange man looking beneath the vehicle of the young man’s girlfriend while her car was parked at work, suggesting that a tracking device may have been retrieved from her car.

Then things got really weird when police showed up during a Wired interview with the man.

The young man, who asked to be identified only as Greg, is one among an increasing number of U.S. citizens who are finding themselves tracked with the high-tech devices.

The Justice Department has said that law enforcement agents employ GPS as a crime-fighting tool with “great frequency,”and GPS retailers have told Wired that they’ve sold thousands of the devices to the feds.

#17 New high-tech street lights that are being funded by the federal government and that are being installed all over the nation can also be used as surveillance cameras, can be used by the DHS to make “security announcements” and can even be used to record personal conversations.  The following is from a recent article by Paul Joseph Watson for Infowars.com….

Federally-funded high-tech street lights now being installed in American cities are not only set to aid the DHS in making “security announcements” and acting as talking surveillance cameras, they are also capable of “recording conversations,” bringing the potential privacy threat posed by ‘Intellistreets’ to a whole new level.

#18 If you choose to protest in the streets of America today, there is a good chance that you will be brutalized.  All over the United States law enforcement authorities have been spraying pepper spray directly into the faces of unarmed protesters in recent weeks.

#19 In many areas of the United States today, you will be arrested if you do not produce proper identification for the police.  In the old days, “your papers please” was a phrase that was used to use to mock the tyranny of Nazi Germany.  But now all of us are being required to be able to produce “our papers” for law enforcement authorities at any time.  For example, a 21-year-old college student named Samantha Zucker was recently arrested and put in a New York City jail for 36 hours just because she could not produce any identification for police.

#20 According to blogger Alexander Higgins, students in kindergarten and the 1st grade in the state of New Jersey are now required by law to participate “in monthly anti-terrorism drills”.  The following is an excerpt from a letter that he recently received from the school where his child attends….

Each month a school must conduct one fire drill and one security drill which may be a lockdown, bomb threat, evacuation, active shooter, or shelter-in place drill. All schools are now required by law to implement this procedure.

So who in the world ever decided that it would be a good idea for 1st grade students to endure “lockdown” and “active shooter” drills?

To get an idea of what these kinds of drills are like, just check out this video.

#21 With all of the other problems that we are having all over the nation, you would think that authorities would not be too concerned about little kids that are trying to sell cups of lemonade.  But sadly, over the past year police have been sent in to shut down lemonade stands run by children all over the United States.

#22 The federal government has decided to invest a significant amount of time, money and energy raiding organic farms.  The following example comes from Natural News….

It is the latest case of extreme government food tyranny, and one that is sure to have you reeling in anger and disgust. Health department officials recently conducted a raid of Quail Hollow Farm, an organic community supported agriculture (CSA) farm in southern Nevada, during its special “farm to fork” picnic dinner put on for guests — and the agent who arrived on the scene ordered that all the fresh, local produce and pasture-based meat that was intended for the meal be destroyed with bleach.

#23 It is an absolute disgrace that all of us (including grandmothers and young children) must either go through body scanners that reveal the intimate details of our naked bodies or endure “enhanced pat-downs” during which our genitals will be touched before we are allowed to get on an airplane.

It is also an absolute disgrace that the American people are putting up with this.

#24 Invasive TSA security techniques are not just for airports anymore.  Now, TSA “VIPR teams” are actively conducting random inspections at bus stations and on interstate highways all over the United States.  For example, the following comes from a local news report down in Tennessee….

You’re probably used to seeing TSA’s signature blue uniforms at the airport, but now agents are hitting the interstates to fight terrorism with Visible Intermodal Prevention and Response (VIPR).

“Where is a terrorist more apt to be found? Not these days on an airplane more likely on the interstate,” said Tennessee Department of Safety & Homeland Security Commissioner Bill Gibbons.

Tuesday Tennessee was first to deploy VIPR simultaneously at five weigh stations and two bus stations across the state.

TSA “VIPR teams” now conduct approximately 8,000 “unannounced security screenings” a year at subway stations, bus terminals, ports and highway rest stops.

#25 More than a million hotel television sets all over America are now broadcasting propaganda messages from the Department of Homeland Security promoting the “See Something, Say Something” campaign.  In essence, the federal government wants all of us to become “informants” and to start spying on one another constantly.  The following comes from an article posted by USA Today….

Starting today, the welcome screens on 1.2 million hotel television sets in Marriott, Hilton, Sheraton, Holiday Inn and other hotels in the USA will show a short public service announcement from DHS. The 15-second spot encourages viewers to be vigilant and call law enforcement if they witness something suspicious during their travels.

#26 Certain “types” of American citizens are being labeled as potential threats in official U.S. government documents.  An unclassified Department of Homeland Security report published a couple years ago entitled “Right-wing Extremism: Current Economic and Political Climate Fueling Resurgence in Radicalization and Recruitment” claims that a belief in Bible prophecy “could motivate extremist individuals and groups to stockpile food, ammunition and weapons.”  The report goes on to state that such people are potentially dangerous.

#27 Back on February 20, 2009, the State of Missouri issued a report entitled “MIAC Strategic Report: The Modern Militia Movement“.  That report warned that the following types of people may be potential terrorists….

*anti-abortion activists

*those that are against illegal immigration

*those that consider “the New World Order” to be a threat

*those that have a negative view of the United Nations

#28 As I have written about previously, a very disturbing document that Oath Keepers has obtained shows that the FBI is now instructing store owners to report many new forms of “suspicious activity” to them.  According to the document, “suspicious activity” now includes the following….

*paying with cash

*missing a hand or fingers

*”strange odors”

*making “extreme religious statements”

*”radical theology”

*purchasing weatherproofed ammunition or match containers

*purchasing meals ready to eat

*purchasing night vision devices, night flashlights or gas masks

Do any of those “signs of suspicious activity” apply to you?

#29 Soon you may get labeled as a “potential terrorist” if you are just feeling a little nervous.  A new “pre-crime” technology system that is currently being tested by the U.S. Department of Homeland Security will soon be in use all over the nation.  It is called “Future Attribute Screening Technology” (FAST), and it is very frightening.  The following description of this new program comes from an articlein the London Telegraph….

Using cameras and sensors the “pre-crime” system measures and tracks changes in a person’s body movements, the pitch of their voice and the rhythm of their speech.

It also monitors breathing patterns, eye movements, blink rate and alterations in body heat, which are used to assess an individual’s likelihood to commit a crime.

The Future Attribute Screening Technology (FAST) programme is already being tested on a group of government employees who volunteered to act as guinea pigs.

#30 The truth is that nobody puts more people into prison than America does.  The United States has the highest incarceration rate in the world and the largest total prison population on the entire globe.

To read about some of the crazy things that the control freaks running things have planned for the future, just check out this article by Natural News: “10 outlandish things the ‘scientific’ controllers have in mind for you in the near future“.

Once again, despite all of this outrageous “security”, it is inevitable that a lot of really bad things are going to happen in the United States in the years ahead.

When there are incidents of violence, it is also inevitable that there will be calls for even more “Big Brother” security measures.

We are going to be caught in a never ending spiral of tyranny where the “solution” is always even tighter security.

Eventually, we will have lost all of our liberties and freedoms, and we will probably be even less safe than we are today.

Do not be deceived.  We could put a soldier on every corner, a video camera in every room of every home and an RFID chip in every citizen but that would not make us “safe”.

Every single lawmaker that is backing these laws which strip our liberties and freedoms away deserves to be voted out of office.

If you love the United States of America, please stand up and say something while you still can.

Please use this article and other articles like it as tools.  Share them with your friends and your family.  If we can get enough people to wake up, perhaps there is still enough time to turn the direction of this country around.

Will the final chapters of the history of the United States of America be mentioned in the same breath as communist China, the USSR and Nazi Germany, or will the final chapters of the history of the United States of America be the greatest chapters of all?

The choice, America, is up to you.’

 

 

 

 

Fayyad Says Israel Must Stop Withholding Palestinian Revenue [ The match made in hell … americans / israelis are just common thieves / criminals. ]BusinessWeek Nov. 24 (Bloomberg) -- Palestinian Authority Prime Minister Salam Fayyad said Israel must stop withholding tax and customs payments that it collects for the Palestinians and which account for two-thirds of the organization's revenue.

 

 

Exclusive: CIA Spies Caught, Fear Execution in Middle East [Well, if there was ever anyone deserving of execution, particularly in the middle east, it’s cia spies.]



First Lady booed at NASCAR race [Never a previous fan (that round and round and round– but I do like the flats in horse-racing - Go Big Red {‘Secretariat’, a terrific film} ), I think I’m going to change my mind in light of the fans’ display of good taste!]

 

 


 

Pentagon chief calls India, China ‘threats’ AFP | US Defense Secretary Leon Panetta referred to India and China as “threats” on Thursday. [ Oh riiiiight! Anything or anybody that’s not an incompetent, brainless automaton is a ‘threat’ to the u.s. because in projecting america’s insanity, America sees them deviantly sitting around plotting ways to wreak havoc and war in the world for the sake of maintaining their wasteful, nation-draining budgets. What isn’t ‘a threat’ to these mental cases. Certainly the truth is a threat to incompetent dog panetta, yet it is he and his who are the threat to this nation and the world. ]


 

 

Penn State Scandal: Mother of Sandusky's Adopted Son Speaks Out    By KEVIN DOLAK | Good Morning America http://gma.yahoo.com/penn-state-scandal-mother-sanduskys-adopted-son-speaks-091457912.html

 

 

The birth mother of Jerry Sandusky's youngest adopted child has come forward saying she believes the former Penn State coach led her son on a path of self-destruction and that she contacted authorities years ago about her son's safety.

Debra Long told ABC News in an exclusive interview that sharing her now 33-year-old son Matt with Sandusky had been a nightmare after the coach became the boy's guardian via foster care in 1995. Long says that she watched as her child became enamored with the local hero and then increasingly frightened by Sandusky's behavior.

"It was Jerry Sandusky, you know? Any 10-year-old kid is gonna be impressed by Penn State football," Long said. "And then it was the gifts. You know, money and clothing and whatever … It was as if Jerry owned Matthew."

Sandusky entered the lives of the Longs as a mentor when Matt was 10 years old, via The Second Mile charity for at-risk youth, which the former Penn State defensive coordinator founded. When Matt was placed in juvenile hall after he set fire to a barn in 1995, he soon entered the Sandusky home as a foster child. He was adopted by Sandusky as an adult at age 18.

Matt Sandusky, now 33, is not named as one of the 10 victims in the grand jury presentment outlining the charges against the coach. He insists he was not abused by his foster father.

But Debra Long says that the once-welcome Sandusky soon became a source of fear for her son, as he would take the boy out of school when he was 15 years old, unbeknownst to her.

"My son was afraid of Jerry. If Jerry said don't talk, he didn't talk. I would sit back and watch when Jerry would show up, how excited Matt was," she said. "And then, as time went on, I would watch the same kid hide behind the bedroom door and say, 'Mom, tell him I'm not home.'"

Long believes that exposure to Sandusky was what made her once-quiet son lash out, and eventually fall into the coach's hands.

"It wasn't until Jerry came into the picture that Matt started acting out in school. Matt ended up burning down a barn with another youth, you know -- it wasn't until Jerry came into the picture … that mentor turned him from the quiet, good kid into -- what Jerry could use to take him."

Four months after moving into the Sandusky's home Matt attempted suicide, along with another girl who was staying in the house, according to a report in the Patriot-News. After the suicide attempt, Terry L. Trude, a school-based probation officer, wrote a letter to a local judge asking that Matt's care at the Sandusky home be reviewed.

"The probation department has some serious concerns about the juvenile's safety and his current progress in placement with the Sandusky family," Trude wrote.

The adoption file for Matt Sandusky contains letters from Long to officials and a Centre County judge expressing concern for her son, who she was allowed to visit only one-half day per month while he was in Sandusky's care.

Matt Sandusky – who is one of five boys adopted by Sandusky and his wife -- still supports Jerry after he was arrested on charges of 40 counts of sexual assault with 10 minor boys over 15 years. Matt even brought his children to visit Sandusky after his Nov. 5 arrest.

But the mother of Matt's kids immediately went to court to obtain an order preventing Sandusky from being alone with her children. By court order Sandusky is now not allowed unsupervised contact or overnight visits with his grandchildren.

Alleged Victims Ready for Court

In the aftermath of Jerry Sandusky's unexpected interview on "Rock Center" with Bob Costas on Monday night, a number of witnesses are now ready and willing to testify in court that they were sexually assaulted by the coach.

A second boy has said that he is now ready to testify in court, according to Harrisburg attorney Ben Andreozzi, who is representing the boy. According to Andreozzi , the alleged victim called him after Sandusky gave the controversial interview on Monday.

"He has decided to dig in his heels. He's not going anywhere. He fully intends to testify," Andreozzi said.

In a statement issued Wednesday, Andreozzi said Sandusky "elected to re-victimize these young men at a time when they should be healing," and said his client was "disappointed" by Sandusky's comments.

"I think he would like Mr. Sandusky to assume responsibility for the horrible acts he committed on him," Andreozzi said.

Another boy known to be planning to testify is one known as "Victim 1" in the indictment; he is the boy who first came forward to authorities to allege abuse at the hands of Sandusky. The boy has already told his story to the grand jury and is anxious to tell it again in open court, according to his mother.

"He wants him to go to jail, and he wants him to pay for what he's done, and he doesn't want him on the streets where he can hurt somebody else," the unnamed boy's mother told ABC News.

Meanwhile, The Patriot-News reports that hearing Sandusky's interview broadcast on national television Monday has triggered more of the coach's alleged victims to come forward.

"They're literally processing it right in front of us," attorney Andy Shubin told the Patriot-News. "They have kept it from their families, moms, brothers and sisters ... The folks we talked to are largely folks in their 20s, who in a lot of cases have never told their story before."

Shubin has reportedly teamed up with Andreozzi, and along with a team of psychologists and social workers they plan to aid the alleged victims by providing seeking mental help and possible legal recourse. ‘

 

 

How to Protect Ourselves from Radiation  : George Washington : 11/16/2011 - Self-Help: How to Protect Ourselves Against Damage from Radiation

Penn State coach says he stopped shower assault... ‘…McQueary was placed on administrative leave last week after Penn State officials said he had received threats.According to the grand jury report, the graduate assistant said he saw a boy, whose age he estimated at 10 years old, "being subjected to anal intercourse" by a naked Sandusky in a shower at the Penn State football building in March 2002. The graduate assistant left "immediately," was "distraught" and called his father, according to the presentment. His father told him to leave the building and come to his home, according to the presentment.In the email obtained by The Morning Call, dated Nov. 8, McQueary said "I did stop it, not physically, but made sure it was stopped when I left that locker room.""No one can imagine my thoughts or wants to be in my shoes for those 30-45 seconds," McQueary wrote. "Trust me."Asked about McQueary's statement in the email that he had discussions with police, Penn State police told The Morning Call they were deferring to the university public relations office, which did not return a call Tuesday afternoon. Pennsylvania State Police in Harrisburg, which is heading the investigation, did not return a call.McQueary has not spoken publicly and declined to be interviewed by The Morning Call…’

 

 

Ron Paul Only Republican Candidate Not Calling for Iran Attack Kurt Nimmo | Said president must follow the Constitution and go to Congress before any action against Iran. [ Actually, the correct position is for all nations to require israel’s compliance with and adherence to all applicable laws and treaties, as well as u.n. resolutions concerning israel’s illegal nukes and war crimes as well as violations of the aforementioned before addressing the rationally defensive posture of Iran in light thereof. ]

 

Ron Paul Gets 89 Seconds To Speak In CBS Debate Paul Joseph Watson | Leaked email to Bachmann campaign indicates decision to limit air time for certain candidates was deliberate CBS News policy. [ It’s really quite amazing that retreads, such as the already failed, scandal-ridden slimy newt gingrich (much of america’s current failure had it’s genesis in policies initiated / supported by gingrich; ie., protection from RICO liability for the frauds on wall street, etc.) based on his mere adherence to that which is required of the ‘israeli amen corner’ on capital hill (as pointed out by the perspicacious Pat Buchanan), despite bringing america down thereby, is the shibboleth by which all candidates are being measured. Quite amazingly self-defeating, destructive, and self-destructive for america particularly and the world generally. That’s why cbs is cbs (for cb***s***). Given america’s intractable decline, it’s really quite amazing. But, as we’ve seen, pervasively corrupt, defacto bankrupt america is now fatally beyond shame. Nothing succeeds quite like failure in america; where crime pays and pays well. ]



Putin attacks Britain and US for ‘violating Libya resolution’
London Independent | “A complete scandal and a complete affront to the international community”.

 

Why World War III: Destroy The Global Economy, Create A Greater Israel Saman Mohammadi |  [ This really would be quite incredible if it wasn’t so credibly true. That these nations have and would self-destructively sacrifice themselves for greater ‘zion/israel’, particularly in light of israel’s war crimes/crimes/illegal nuclear proliferation/international law violations, complete disavowal of all Christianity stands for, and anti-Arab/Muslim provocateur/nemesis is a ‘non-mystery mystery’ that will forever haunt the annals of a doomed future and then history. ] There is a mistaken belief held by many people that the U.S. government won’t attack Iran or allow Israel to attack.


Law professor says sympathy for American troops is not ‘rational’

 

Defense chief warns on Iran strike consequences Reuters | Military action against Iran could have “unintended consequences” in the region.

 

 

 

Putin defends bid for president [ Let me add my voice to his own in defending Putin’s bid for the Russian Presidency! Another time, another place, maybe, just maybe, such criticism might, just might be at the most, okay, even if unwarranted. Yet, in this global worst of times scenario, Russia and the world need a strong leader to ‘push back’ the irrationality and desperate ‘misadventurism’ (wars, contrived conflict, raping, pillaging, and plundering by war crimes nations america/israel along with the foolishly complicit, self-destructively pliant european bobbleheads, et als.) and continue the rationality and strength that has always seen the great nation of Russia through the hardest of times. From a purely Russian perspective, the Russian people must ask themselves who is the Russian leader pervasively corrupt, defacto bankrupt, fallen, desperate war crimes nation in intractable decline america/israel would least be inclined to want to see in office (don’t forget former ‘american partners’ sadam hussein, momar ghadafi, etc.). The question answers itself. Rationality will indeed prevail in the great nation state of Russia. Congratulations President Putin!  ]

 

 

Americans Are Now Living In a Society That Rivals Orwell’s 1984 Paul Joseph Watson & Alex Jones | Winston Smith’s Oceania has nothing on 2011 America.

 

TRUTHFUL TRASH TALK (ABOUT ISRAELI TRASH) BEHIND ISRAELI LEADER'S BACK Report: Sarkozy calls Netanyahu 'liar'  Microphones accidently left on after G20 meeting pick up private conversation between US, French presidents. Sarkozy admits he 'can't stand' Israeli premier. Obama: You're fed up with him? I have to deal with him every day!


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Arret sur Images (Screenshot) 

The conversation then drifted to Netanyahu, at which time Sarkozy declared: "I cannot stand him. He is a liar." According to the report, Obama replied: "You're fed up with him, but I have to deal with him every day!" The remark was naturally meant to be said in confidence, but the two leaders' microphones were accidently left on, making the would-be private comment embarrassingly public. The communication faux pas went unnoticed for several minutes, during which the conversation between the two heads of state – which quickly reverted to other matters – was all but open to members the press, who were still in possession of headsets provided by the Elysée for the sake of simultaneous translation during the G20 press conference."By the time the (media) services at the Elysée realize it, it was on for at least three minutes," one journalist told the website. Still, he said that reporters "did not have a chance to take advantage of this fluke."The surprising lack of coverage may be explained by a report alleging that reporters present at the event were requested to sign an agreement to keep mum on the subject of the embarrassing comments. A member of the media confirmed Monday that "there were discussions between journalists and they agreed not to publish the comments due to the sensitivity of the issue." He added that while it was annoying to have to refrain from publishing the information, the journalists are subject to precise rules of conduct.’

 

 

 

No smoking gun: IAEA Iranian nuclear report falls flat on its face Patrick Henningsen | The IAEA report has come up short, but the Axis powers are still desperate to hit Iran

 

 

Fourth accuser urges Herman Cain to ‘come clean’ about harassment - A fourth woman has accused Republican presidential candidate Herman Cain of sexual harassment--this time in public. Sharon Bialek told reporters in a press conference Monday that Cain groped her and e...

 

Obama was playing golf until 20 minutes before Navy SEALs began mission to take out Bin Laden UK Daily Mail | Stayed out on golf course to distance himself if it went wrong, book claims.

 

Extreme Poverty Is Now At Record Levels The Economic Collapse | According to the U.S. Census Bureau, a higher percentage of Americans is living in extreme poverty than they have ever measured before.



10 Reasons America Will Be Judged as the Most Brutal Empire in History  Activist Post | Good and evil doesn’t have a grey zone. Activist Post November 7, 2011

Good and evil doesn’t have a grey zone.  Killing and stealing is bad.  Violence is never “good” or necessary unless it is used to defend against killers and thieves. Indeed, that is the morality behind the “just war” principle as defined by international laws and treaties.

Yet, this simple concept of right and wrong gets muddled by differing ideas about religion, patriotism, economics and many other divisions.  The “just war” rule has crumbled under the ambitions of empires throughout history.  The American-led Anglo Saxon empire is no different.

This empire has been brutally conquering and colonizing territory since the fall of Rome.  However, it has only gained an American face in the last century.  The United States quickly emerged as the world’s “superpower” primarily through its economic might.  For some time, many believed the U.S. to be a shining example of economic freedom for other nations to emulate.  Indeed, America was eager to promote “economic freedom” globally to open new markets for U.S.-based corporations.

When foreign leaders refused to allow these corporate interests into their country, those leaders were replaced through a variety of covert actions.  The form of government that would be installed did not matter to the empire makers so long as the corporate interests were served.  In most cases these nations simply surrendered to the seemingly unlimited power of the almighty dollar, thus camouflaging the traditional method of forceful empire building.

However, some nations, especially in the last two decades, remained stubborn and have refused to alter their banking systems while also shunning Western companies.  Despite the empire’s best efforts to diplomatically bribe or sanction them into submission, they ultimately required an iron military fist to force their compliance.  Until recently, military action remained the last resort.  But now, preemptive military action seems to have become the preferred, and perhaps necessary, method to conquer the last resource-rich nations out of their grasp.

The empire’s populations cheered this strategy out of fear of being attacked by these rogue nations who never attacked or even threatened to attack them.  In the fog of fear, killing and stealing became acceptable. In fact, detention without charges and even torture became acceptable in the former capital of freedom. America has determined that the means justifies the end — which is more power.

As with all empires, these “means” have become increasingly violent and destructive in the face of resistance.  Yet, only a few more dominoes are left to knock over for America to complete a plan set in motion well before they were one of the colonies.  That is unless, of course, other world powers break ranks and attempt to stop the conquerors, which could lead to a large scale conflict.

Regardless, when the dust settles and moral history is written, America and her Western cohorts will likely be viewed as the most brutal empire in history.  Here are ten reasons why this is already the case:

 

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#1. Support of Dictators: For all the happy talk of spreading Democracy and protecting human rights, the empire has repeatedly not only supported dictators, but in many cases overthrew popularly elected leaders and replaced them with puppet tyrants.  Examples range from secretly funding the Nazis, to installing the Shah in Iran, Pinochet in Chile, supporting Musharraf in Pakistan, and their everlasting love affair with the brutal Saudi royal family, to name a few.  Actions speak louder than words to those who can navigate the storm of propaganda with a moral compass set to recognize good from evil.  Dictators and freedom cannot coexist.


#2. Preemptive Wars of Aggression: It could be said that all wars are preemptive in nature because so many entities benefit from war.  Yet, even before America’s latest crusades, they covertly and surgically attacked countries that never threatened them.  This allowed them to maintain the moral high road in the public’s eye while constructing the foundation of their empire.  That was until the Bush Doctrine; the use of preemptive military action to confront possible threats was unofficially adopted to be the new foreign policy for combating terror.  Since then, America has become the violent aggressors, having officially invaded two countries — Afghanistan and Iraq — without legitimate provocation.  Violent aggressors have always been judged by history as evil. But it gets worse….

 

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#3. Torture: Torture has never been acceptable by those promoting a high moral standing in the global community.  Nazis and Japanese soldiers were convicted and executed for engaging in the exact same torture techniques that America has redefined as ‘enhanced interrogation’.  “I was just following orders,” was not a justifiable excuse for such inhumane behavior, much like it wasn’t a good enough defense for the low-ranking patsies who took the heat for the sinister Abu Ghraib torture scandal even though their actions were approved at the highest levels.  Can state-sanctioned torture of prisoners held without charges ever be viewed as anything less than brutal?

 

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#4. Suppression of Dissent: All tyrannical regimes throughout history have suppressed homeland dissent.  As government oppression grows bolder at home and abroad, more citizens will naturally express outrage, resulting in even more oppressive controls.  This is happening in the United States through the all-seeing eye of the Department of Homeland Security with warrantless spying, arbitrary watch lists, citizen spy campaigns, and TSA molestation to travel anywhere.  Additionally, in an attempt to squash free speech, they arbitrarily seize websites and violently confront peaceful protesters.  Unfortunately, as awareness of the topics in this very article expands, the U.S. will likely become even bolder in their pursuit of stifling dissent.  In other words, the worst is yet to come, and history will judge the U.S. as not quite the beacon of freedom they have pretended to be.

 

#5. Elimination of Habeas Corpus: Say goodbye to the notion of being innocent until proven guilty, the right to face charges and your accuser, and the right to a free and fair trial.  Habeas corpus, considered the only humane path to “which a prisoner can be released from unlawful detention,” has been eliminated for those vaguely labeled ‘enemy combatants’ of the empire.  As Guantanamo prisoners rot under such pretenses, prominent lawmakers in the empire propose the exact same lack of rights for American citizens if they’re labeled an ‘enemy belligerent‘.  Similar to the Spanish Inquisition, now you’re guilty until you’re tortured to admit your guilt.  Can it get more evil? Why yes, it can. Read on.

 

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#6. Assassinating Citizens: That’s right.  No judge, no jury, no conviction; just straight to execution. America has set another precedent in their tyrannical march toward empire when they openly assassinated an American citizen and government patsy, Anwar al-Awlaki, and his teenage son on the suspicion of terrorism.  Paul Craig Roberts laments “Now the US government not only can seize a US citizen and confine him in prison for the rest of his life without ever presenting evidence and obtaining a conviction, but also can have him shot down in the street or blown up by a drone.”  Isn’t this the reason America claims to be knocking off dictators around the world — the deliberate killing of their own citizens?

But Awlaki was a bad apple because the intelligence community said so. What’s most telling that America will continue this wickedness is that almost every US lawmaker turned a blind eye to the grotesque violation of Constitutional rights. Only Ron Paul said that assassinating an American citizen without charges is nothing less than an “impeachable offense”.  Too bad most of the country cheered the Awlaki killing as a “victory” in the war on terror, indicating that it is now an acceptable tactic.  Americans beware: you may be moved from a secret watch list to a secret kill list in this brutal empire.

 

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#7. Unauthorized Drone Wars: Unprovoked wars without authorization, accountability, or independent oversight only seem to be escalating; and with little resistance. The US Congress no longer votes to “declare war”.  They simply give the Commander in Chief broad “authorization” to use force against specific nations. However, even that is not broad enough in the rapid pursuit of empire.  Now, joystick warriors directed by the CIA and Pentagon have targeted at least three countries with “unauthorized” military strikes; Pakistan, Yemen, and Somalia.  Even worse, they waged a full-scale war for regime change and resource plundering in Libya without any authority inside the United States.  Under the NATO flag, which is 75% funded by the U.S., they flew over 9200 strike sorties in Libya to illegally topple Gaddafi.  Drunk with success, the bloodthirsty empire marches on to their next preemptive targets, Syria and Iran.  Quick morality check: unprovoked killing and stealing as a first resort is still wrong, right?

 

#8. Use of Weapons of Mass Destruction: How ironic that the world’s policeman for weapons of mass destruction is the only one to use them on a mass scale.  The United States is on record using chemical, biological and even nuclear weapons.  From the atomic bombs dropped on Hiroshima and Nagasaki in WWII, to Monsanto’s Agent Orange in Vietnam, to the depleted uranium used in Afghanistan and Iraq, America only condemns itself when speaking about the evils of WMDs. However, killers don’t appear to care how the killing is accomplished, so long as it achieves their goals.  The real firecrackers will likely be brought out in a confrontation with Iran, or if China and Russia are lured into the conflict.  It won’t really matter much what history says if the use of WMD escalates by either side, but the aggressors should rightly be blamed for the ensuing scorched earth, while the defenders against killers and thieves should be viewed as righteous.

 

#9. World’s Largest Drug Dealer: The American empire is the largest drug dealer in the world?  Say it isn’t so. Well, in addition to forcing legal drugs and genetically modified organisms on nations, usually under the cover of foreign aid, America also leads in the illegal drug trade.  In fact, many researchers reveal that the war on drugs is only utilized to control and monopolize the illicit drug trade.  The US government has been caught multiple times shipping in cocainecolluding with certain cartels to control the industry, and now openly protects and transports opium from Afghanistan.  In fact, Global Research points out that in 2001, “according to UN figures, opium production had fallen to 185 tons. Immediately following the October 2001 US led invasion, production increased dramatically, regaining its historical levels.”  This month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production; up 61% compared to 2010 to a whopping 5800 tonnes.  Although the empire tries to keep it secret, they can’t hide the hypocrisy forever.

 

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#10. World Reserve Currency Prison: Although using Weapons of Mass Debt is a non-violent form of expanding the empire, it’s perhaps the most brutal and effective form of control.  Requiring foreign nations to purchase oil and other imported commodities with US dollars wields immense power.  Because all nations must acquire dollars to purchase critical resources, they quickly become indebted to the US Federal Reserve, their affiliate central banks, and the IMF.  Before long, the entire world is colonized by debt.  It seems that only the nations that don’t need or refuse credit from Western banking institutions are the ones in danger of facing the wrath of the imperial war machine. Incidentally, most oil-rich nations in the Middle East have outlawed usury (lending money with interest), making them impossible to conquer diplomatically through debt.  Controlling the world reserve currency means controlling the tap of life itself, which is a dangerous weapon in the hands of an aggressive empire.  Debt is the ultimate WMD the empire uses to enslave the world, which leaves dissidents with two clear choices: slavery or death.

Although this empire is infinitely more powerful than Rome was, it will suffer the same fate.  For every negative action the empire commits, there’s an equal and opposite good reaction. And the goodness of humanity will always defeat tyranny when it goes too far.  However, an empire with so much to lose will go down swinging and slinging every weapon in its arsenal, thus putting the final stamp on their status as most brutal empire in history.’

 

 

 

 

Extreme Poverty Is Now At Record Levels – 19 Statistics About The Poor That Will Absolutely Astound You  According to the U.S. Census Bureau, a higher percentage of Americans is living in extreme poverty than they have ever measured before.  The Economic Collapse November 5, 2011

According to the U.S. Census Bureau, a higher percentage of Americans is living in extreme poverty than they have ever measured before.  In 2010, we were told that the economy was recovering, but the truth is that the number of the “very poor” soared to heights never seen previously.  Back in 1993 and back in 2009, the rate of extreme poverty was just over 6 percent, and that represented the worst numbers on record.  But in 2010, the rate of extreme poverty hit a whopping 6.7 percent.  That means that one out of every 15 Americans is now considered to be “very poor”.  For many people, this is all very confusing because their guts are telling them that things are getting worse and yet the mainstream media keeps telling them that everything is just fine.  Hopefully this article will help people realize that the plight of the poorest of the poor continues to deteriorate all across the United States.  In addition, hopefully this article will inspire many of you to lend a hand to those that are truly in need.

Tonight, there are more than 20 million Americans that are living in extreme poverty.  This number increases a little bit more every single day.  The following statistics that were mentioned in an article in The Daily Mail should be very sobering for all of us….

About 20.5 million Americans, or 6.7 percent of the U.S. population, make up the poorest poor, defined as those at 50 per cent or less of the official poverty level.

Those living in deep poverty represent nearly half of the 46.2 million people scraping by below the poverty line. In 2010, the poorest poor meant an income of $5,570 or less for an individual and $11,157 for a family of four.

That 6.7 percent share is the highest in the 35 years that the Census Bureau has maintained such records, surpassing previous highs in 2009 and 1993 of just over 6 percent.

Sadly, the wealthy and the poor are being increasingly segregated all over the nation.  In some areas of the U.S. you would never even know that the economy was having trouble, and other areas resemble third world hellholes.  In most U.S. cities today, there are the “good neighborhoods” and there are the “bad neighborhoods”.

According to a recent Bloomberg article, the “very poor” are increasingly being pushed into these “bad neighborhoods”….

At least 2.2 million more Americans, a 33 percent jump since 2000, live in neighborhoods where the poverty rate is 40 percent or higher, according to a study released today by the Washington-based Brookings Institution.

Of course they don’t have much of a choice.  They can’t afford to live where most of the rest of us do.

Today, there are many Americans that openly look down on the poor, but that should never be the case.  We should love the poor and want to see them lifted up to a better place.  The truth is that with a few bad breaks any of us could end up in the ranks of the poor.  Compassion is a virtue that all of us should seek to develop.

Not only that, but the less poor people and the less unemployed people we have, the better it is for our economy.  When as many people as possible in a nation are working and doing something economically productive, that maximizes the level of true wealth that a nation is creating.

But today we are losing out on a massive amount of wealth.  We have tens of millions of people that are sitting at home on their couches.  Instead of creating something of economic value, the rest of us have to support them financially.  That is not what any of us should want.

It is absolutely imperative that we get as many Americans back to work as possible.  The more people that are doing something economically productive, the more wealth there will be for all of us.

That is why it is so alarming that the ranks of the “very poor” are increasing so dramatically.  When the number of poor people goes up, the entire society suffers.

So just how bad are things right now?

The following are 19 statistics about the poor that will absolutely astound you….

#1 According to the U.S. Census Bureau, the percentage of “very poor” rose in 300 out of the 360 largest metropolitan areas during 2010.

#2 Last year, 2.6 million more Americans descended into poverty.  That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.

#3 It isn’t just the ranks of the “very poor” that are rising.  The number of those just considered to be “poor” is rapidly increasing as well.  Back in the year 2000, 11.3% of all Americans were living in poverty.  Today, 15.1% of all Americans are living in poverty.

#4 The poverty rate for children living in the United States increased to 22% in 2010.

#5 There are 314 counties in the United States where at least 30% of the children are facing food insecurity.

#6 In Washington D.C., the “child food insecurity rate” is 32.3%.

#7 More than 20 million U.S. children rely on school meal programs to keep from going hungry.

#8 One out of every six elderly Americans now lives below the federal poverty line.

#9 Today, there are over 45 million Americans on food stamps.

#10 According to the Wall Street Journal, nearly 15 percent of all Americans are now on food stamps.

#11 In 2010, 42 percent of all single mothers in the United States were on food stamps.

#12 The number of Americans on food stamps has increased 74% since 2007.

#13 We are told that the economy is recovering, but the number of Americans on food stamps has grown by another 8 percent over the past year.

#14 Right now, one out of every four American children is on food stamps.

#15 It is being projected that approximately 50 percent of all U.S. children will be on food stamps at some point in their lives before they reach the age of 18.

#16 More than 50 million Americans are now on Medicaid.  Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, approximately one out of every 6 Americans is on Medicaid.

#17 One out of every six Americans is now enrolled in at least onegovernment anti-poverty program.

#18 The number of Americans that are going to food pantries and soup kitchens has increased by 46% since 2006.

#19 It is estimated that up to half a million children may currently be homeless in the United States.

Sadly, we don’t hear much about this on the nightly news, do we?

This is because the mainstream media is very tightly controlled.

I came across a beautiful illustration of this recently.  If you do not believe that the news in America is scripted, just watch this video starting at the 1:15 mark.  Conan O’Brien does a beautiful job of demonstrating how news anchors all over the United States are often repeating the exact same words.

So don’t rely on the mainstream media to tell you everything.

In this day and age, it is absolutely imperative that we all think for ourselves.

It is also absolutely imperative that we have compassion on our brothers and sisters.

Winter is coming up, and if you see someone that does not have a coat, don’t be afraid to offer to give them one.

All over the United States (and all around the world), there are orphans that are desperately hurting.  As you celebrate the good things that you have during this time of the year, don’t forget to remember them.

We should not expect that “the government” will take care of everyone that is hurting.

The reality is that millions of people fall through the “safety net”.

Being generous and being compassionate are qualities that all of us should have.

Yes, times are going to get harder and an economic collapse is coming.

That just means that we should be more generous and more compassionate than we have ever been before.’

 

 

Lindsay Lohan gets 30-day jail sentence  http://www.cbsnews.com/8301-207_162-20129112/lindsay-lohan-gets-30-day-jail-sentence [ Boy oh boy … Talk about ‘going after the low hanging fruit’ … If only they were as diligent in going after the serious, real including very violent, criminals plaguing america generally and california particularly. After all, they are letting serious criminal felons out of jail. I do not think anyone could possibly say that Lohan is a serious threat to anyone. I’m glad that she got the ‘Playboy gig’ (I’ve always found Playboy to be a tasteful exposé of artistically beautiful vistas). Though glad to see this unreasonably and unrelentingly tortured (to the point tantamount to overreaching persecution / prosecution), talented girl get work in film, I must honestly say I’m less than enthusiastic that it’s for some new york (fiore/gotti), new jersey (mental case scientologist – scientology is total b***s***- john ‘tony manero’ travolta) guineas who likely will be inclined to glorify that which couldn’t possibly be glorified (Francis Ford Coppola openly expressed his own misgivings concerning same, initially refusing his ‘big break’ debut) and as well his antipathy for the mob; but, I also must say his films gave rise to the career of the great actor, Al Pacino –his lesser known underrated roles in ‘Panic in Needle Park’, ‘Scarecrow’, and especially the terrific film relatively few people saw, ‘Simone’, etc., along with Shakespearian theater, which ultimately justified the exception by creating ‘some good from bad’. I’d be lying if I said, ie., Godfather 1,2,3 were anything but masterfully done). I personally unequivocally hate the mob!   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf    It’s also true that I hate ‘mobs’ of any kind, any ethnicity, government mobs/slugs included  .  Previous:  Roman Polanski freed after Swiss reject U.S. extradition request (Washington Post, July 13, 2010) Without diminishing in any way the seriousness of the crime, this result is the direct consequence of the growing global recognition of the pervasiveness of corruption in american courts, state and federal, and america generally; so much so, that said corrupt american courts cannot be relied on anywhere, anytime. Indeed, my own sampling, though hardly random to be candid, is 5 for 5 (new jersey, new york, connecticut, virginia, california) pervasively and egregiously corrupt to the point where these costly, corrupt bureaucracies should be abolished and supplanted with alternatives as I’ve previously set forth in prior comments.   /  Though Assange’s arrest was on far more tenuous grounds owing to a CIA-linked girl, Roman Polanski was similarly targeted:BBC News - Roman Polanski triumphs at European Film Awards Dec 5, 2010 ... Roman Polanski's thriller The Ghost Writer wins six prizes at the European ... Polanski was working on the film at the time of his arrest in ... www.bbc.co.uk/news/entertainment-arts-11921048  {I strongly recommend this, of course, masterfully done film which deals with exactly that topic and the sordid, unscrupulous machinations of the cia / u.s. (no wonder the u.s. opted out of coverage by world treaty / The Hague thereby) to avoid detection of, and to further such activities as the war crimes referenced.}

Police: Judge won't be charged over video beating McALLEN, Texas (AP) - A Texas family law judge whose daughter secretly videotaped him savagely beating her seven years ago won't face criminal charges because too much time has elapsed, police said Thursday.


BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT RISK ...  [Judge sends Lohan to jail for probation violation (AP) – They got her! That globe-trotting danger / threat to society, the infamous public enemy Lindsey Lohan. Guess she couldn’t cough up that direct or indirect bribe. How pathetic these corrupt, kangaroo courts are! If only she was a drug dealer, armed robber, etc., she would have had the pre-paid connections to avoid this preposterous (known substantial criminals walk about freely, without fear) outcome. This, even as they are releasing substantial felons owing to budgetary considerations. ABOLISH THE CORRUPT, ECONOMICALLY WASTEFUL SO-CALLED SYSTEM, FROM MY DIRECT OBSERVATION AND EXPERIENCE .     (PREVIOUSLY ARCHIVED) HOWEVER, THIS LATEST "CALIFORNIA/LA DISTRACTION" REQUIRES ELUCIDATION AS FOLLOWS:

·        Response to App. Div. OSC

·        STATE OF CALIFORNIA ethics complaint

·        Response to Sup.Ct. OSC

·        designation of record on appeal

·        The so-called "order" appealed from.
How embarrassing for the superior court of the state of california!

·        Typical corrupt banana republic america/california court


Dirty money digitally laundered … a wall street, atlantic city, and american story … a very bad one and  [also see
RICO case   http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf           http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]     Fraud: It’s Much Bigger Than Goldman Sachs       Regulatory reform debate obscures key fact: Everybody’s getting money bribes from Wall Street  


Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare moment for one to say that a sleazy hypocrite like blago, who is on corrupt federale-connected mobster trump’s celebrity apprentice, happens to be correct based upon facts / reality and my own direct observation and experience and the law – Don’t forget to include corrupt federal judges as maryanne trump barry, sam alito, shiff, matz, hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken] (AP)   [Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case      
           http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm           ]

 

 

 

Sheriff: Fast and Furious Bigger Scandal Than Watergate   http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html   Paul Joseph Watson | Over two dozen Republicans call for Holder to resign. Though heavily redacted, the documents directly discuss “Operation Fast and Furious” and how it involves “trafficking firearms to Mexico”. Tuesday, November 1, 2011

Pinal County Sheriff Paul Babeu joined over two dozen Republican lawmakers in calling on Attorney General Eric Holder’s to resign over Operation Fast and Furious, the gunrunning program that saw the ATF deliver some 2,000 guns directly into the hands of Mexican drug gangs, labeling the scandal worse than the Watergate cover-up that brought down the Nixon White House.

Noting that two of the guns involved in the program were found at the scene where U.S. Border Patrol agent Brian Terry was shot to death, Babeu warned that if Holder attempted to stay in power, he could bring down the entire Obama administration.

“I thought it was a telling sign when President Obama embraced him and gave him the Al Capone hug and the Scarface whisper in the ear that I support you. He did this publicly. I thought, `Wow, this is his last hours here, that he’s on his way out,” Babeu told KTAR News.

Holder is set to testify once more on the subject in front of a Democratic-led Senate committee on November 8.

By no means for the first time, if Eric Holder repeats his dubious contention that Fast and Furious only came to his attention when it became public knowledge, he will be knowingly committing perjury.

The head of the Justice Department’s criminal division, Lanny A. Breuer, Holder’s subordinate who first learned of Fast and Furious in April 2010, sent Holder briefings concerning Fast and Furious in July 2010, almost a year before Holder told a Judiciary Committee hearing, “I’m not sure of the exact date, but I probably heard about Fast and Furious for the first time over the last few weeks.”

Holder also received the same briefing from the head of the National Drug Intelligence Center, internal DOJ documents obtained by CBS News show.

“Internal Justice Department documents show that at least ten months before that hearing, Holder began receiving frequent memos discussing Fast and Furious,” states the report.

The CBS News journalist behind the scoop, Sharyl Attkisson, was subjected to verbal abuse by the White House merely for asking questions about the controversy, and was warned not to pursue the story.

In addition, Holder himself gave testimony to Congress in May 2009 in which he spoke of efforts on behalf of the DOJ and the DHS to track weapons going from the U.S. into Mexico under Project Gunrunner, which was the umbrella program for subsequent operations like Fast and Furious.

It now appears as though Breuer is attempting to throw himself under the bus in an attempt to take the heat off his boss and be the fall guy for Fast and Furious.

Over two dozen Republican lawmakers have called for Holder to resign over his stonewalling on Fast and Furious, which is the subject of a congressional probe.

As we highlighted last week, Holder is not alone in his willingness to risk charges of perjury by lying in front of elected representatives.

Despite telling a House Judiciary Committee that she only learned of operation Fast and Furious in December last year when the controversy went public, Homeland Security chief Janet Napolitano actually helped launch the previous incarnation of the program, Project Gunrunner, at a White House press conference in March 2009.

“Napolitano, at one point likening the questioning to a cross-examination, said repeatedly she only learned of “Fast and Furious” after Border Patrol Agent Brian Terry was killed in December,” reported Fox News. “She emphasized the operation, conceived and run by the Bureau of Alcohol, Tobacco, Firearms and Explosives, “was an ATF operation,” under the auspices of the Justice Department, not her department.”

However, as the video below illustrates, not only was Napolitano aware of the ATF program to put guns into the hands of Mexican drug lords, she actually helped launch the previous incarnation of it, Project Gunrunner, at a White House press conference alongside Deputy Attorney General David Ogden in March 2009.’

 

http://www.youtube.com/watch?feature=player_embedded&v=-F_1Sya42yA

 

 

U.S. Boots on the Ground in Libya, Pentagon Confirms Fox News | Despite assurances otherwise, four U.S. service members arrived on the ground in Tripoli.

 

Bloomberg: Riots On Streets  NY Daily News | Mayor Bloomberg warned Friday there would be riots in the streets if Washington doesn’t get serious...’

 

Moody’s Downgrades Bankster Trifecta Kurt Nimmo | Bank of America, Wells Fargo and Citigroup slammed by ratings agency.

 

Obama Impeachment a Possibility, Says Ron Paul Politico | Paul called the killing a movement toward “tyranny.”

 

IMF Advisor: Global Financial Meltdown in 2 to 3 Weeks Zero Hedge | A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again.

 

Gorbachev Calls For American Perestroika Paul Joseph Watson | Former Soviet leader says protest movement highlights need for perestroika in pervasively corrupt, defacto bankrupt America. [ Yes! There is no question that america is the global psychopathic ‘problem child’.

 

2012: Ron Paul is the Only Option Kurt Nimmo | Ron Paul must be on the ballot if we are going stop the wars and return fiscal sanity to the nation.

 

 

Afghanistan to back Pakistan if wars with U.S.: Karzai - ISLAMABAD (Reuters) - Afghanistan would support Pakistan in case of military conflict between Pakistan and the United States, Afghan President Hamid Karzai said in an interview to a private Pakistani ..

 

 

What Have We Gotten For The Trillion Dollars We Have Spent On Wars In Afghanistan, Iraq And Libya? The Economic Collapse | Over a trillion U.S. taxpayer dollars have been spent on wars in Afghanistan, Iraq and Libya.

 

 

GAO Report: Federal Reserve Is Riddled With Corruption And Conflicts Of Interest Daily Bail | New audit of the Federal Reserve details huge conflicts of interest involving directors of regional Fed banks


 

FBI Announces Gangs Have Infiltrated Every Branch Of Military Business Insider | Report says military has seen members from 53 gangs and 100 regions in U.S. enlist in every branch of armed forces.


 

Iraq war will cost more than World War II The Christina Science Monitor | Iraq war, now winding down with US troop exit by December, has cost more than $800 billion so far.

 

 

 

The Military Industrial Complex at 50: Activism Ray McGovern | Ray McGovern on Activism and the Military Industrial Complex.


 

BOOK WARNS OF END... BOOK WARNS OF END
Fri Oct 14 2011 07:00:25 ET

**Exclusive**

"As the faith that gave birth to the West is dying in the West, peoples of European descent from the steppes of Russia to the coast of California have begun to die out, as the Third World treks north to claim the estate. The last decade provided corroborating if not conclusive proof that we are in the Indian Summer of our civilization."

So begins Pat Buchanan in his hardcore work, SUICIDE OF A SUPERPOWER.

"Will America Survive to 2025?"

Buchanan, set for maximum controversy, launches all rockets at introduction "Disintegrating Nation" -- and does not let up for 400-plus pages.

"America is disintegrating. The centrifugal forces pulling us apart are growing inexorably. What unites us is dissolving. And this is true of Western Civilization....Meanwhile, the state is failing in its most fundamental duties. It is no longer able to defend our borders, balance our budgets, or win our wars."

The books reads as if its been written to be left behind in the ruins, only to be found by a future civilization.

SUICIDE ranked #2,668 on AMAZON's hit parade early Friday. It streets on Tuesday.

Now only the DRUDGE REPORT can offer a look inside.



Chapter 1: The Passing of a Superpower

“We have accepted today the existence in perpetuity of a permanent underclass of scores of millions who cannot cope and must be carried by society -- fed, clothed, housed, tutored, medicated at taxpayer’s expense their entire lives. We have a dependent nation the size of Spain in our independent America. We have a new division in our country, those who pay a double or triple fare, and those who ride forever free.”

Chapter 2. The End of Christian America

If [Christopher] Dawson is correct, the drive to de-Christianize America, to purge Christianity from the public square, public schools and public life, will prove culturally and socially suicidal for the nation.

“The last consequence of a dying Christianity is a dying people. Not one post-Christian nation has a birth rate sufficient to keep it alive....The death of European Christianity means the disappearance of the European tribe, a prospect visible in the demographic statistics of every Western nation.”

Chapter 3. The Crisis of Catholicism

“Half a century on, the disaster is manifest. The robust and confident Church of 1958 no longer exists. Catholic colleges and universities remain Catholic in name only. Parochial schools and high schools are closing as rapidly as they opened in the 1950s. The numbers of nuns, priests and seminarians have fallen dramatically. Mass attendance is a third of what it was. From the former Speaker of the House to the Vice President, Catholic politicians openly support abortion on demand.”

“How can Notre Dame credibly teach that all innocent life is sacred, and then honor a president committed to ensuring that a woman’s right to end the life of her innocent child remains sacrosanct?”

Chapter 4. The End of White America

“[W]hite America is an endangered species. By 2020, whites over 65 will out-number those 17 and under. Deaths will exceed births. The white population will begin to shrink and, should present birth rates persist, slowly disappear.”

“Mexico is moving north. Ethnically, linguistically and culturally, the verdict of 1848 is being over-turned. Will this Mexican nation within a nation advance the goals of the Constitution -- to “insure domestic tranquility” and ‘make us a more perfect union’? Or have we imperiled our union?” (Page 134)

Chapter 5. Demographic Winter

“Peoples of European descent are not only in a relative but a real decline. They are aging, dying, disappearing. This is the existential crisis of the West.” (Page 166)

“Not any Iranian weapon of mass destruction but demography is the existential crisis Israel faces....By mid-century...Palestinians west of the Jordan river will out-number Jews 2-1. Add Palestinians in Jordan, it is 3-1.”

“In a startling development of history, Russia’s population has fallen from 148 million in 1991 to 140 million today and is projected to plunge to 116 million by 2050, a loss of 32 million Russians in six decades.”

Chapter 6. Equality Vs. Freedom

“Those who would change society begin by changing the meaning of words. At Howard University, LBJ changed the meaning of equality from the attainable -- an end to segregation and a legislated equality of rights for African-Americans -- to the impossible: a socialist utopia.”

“Where equality is enthroned, freedom is extinguished. The rise of the egalitarian society means the death of the free society.”

“A time for truth. As most kids do not have the athletic ability to play high school sports, or the musical ability to play in the band, or the verbal ability to excel in debate, not every child has the academic ability to do high school work. No two children are created equal, not even identical twins. The family is the incubator of inequality and God its author.”

Chapter 7. The Diversity Cult

“The non-Europeanization of America is heartening news of an almost transcendental quality,” Wattenberg trilled.4 Yet, one wonders: What kind of man looks with transcendental joy to a day when the people among whom he was raised have become a minority in a nation where the majority rules?”

“Historians will look back in stupor at 20th and 21st century Americans who believed the magnificent republic they inherited would be enriched by bringing in scores of millions from the failed states of the Third World.”

Chapter 8: The Triumph Of Tribalism

America’s war of revenge against Japan was a race war. Newsreels, movies, magazines, comic books, headlines treated “Japs” as a repulsive race whose extermination would benefit mankind....Only well after the war was over was it re-branded a war to bring the blessings of democracy to...Japan.

We may deny the existence of ethnonationalism, detest it, condemn it. But this creator and destroyer of empires and nations is a force infinitely more powerful than globalism, for it engages the heart. Men will die for it. Religion, race, culture and tribe are the four horsemen of the coming apocalypse.

Chapter 9. ‘The White Party’

“Through its support of mass immigration, its paralysis in power to prevent 12-20 million illegal aliens from entering and staying, its failure to address the “anchor-baby” issue, the Republican Party has birthed a new electorate that will send it the way of the Whigs.”

Chapter 10: The Long Retreat

“We borrow from Europe to defend Europe. We borrow from the Gulf states to defend the Gulf states. We borrow from Japan to defend Japan. Is it not a symptom of senility to be borrowing from the world so we can defend the world?”

“Are vital U.S. interests more imperiled by what happens in Iraq where were have 50,000 troops, or Afghanistan where we have 100,000, or South Korea where we have 28,000 -- or by what is happening on our border with Mexico?...What does it profit America if we save Anbar and lose Arizona?”

Chapter 11: The Last Chance

“We are trying to create a nation that has never before existed, of all the races, tribes, cultures and creeds of Earth, where all are equal. In this utopian drive for the perfect society of our dreams we are killing the real country we inherited..’

SHRINK: Obama suffers from 'father hunger'...The abandonment by his father when he was an infant and by his stepfather at age 10 has left President Obama with a "father hunger" that influences everything from why he distances himself from pushy supporters, to his strong desire to compromise and bring people together, to his aggressive campaign to kill Osama bin Laden, says a psychoanalytic book out next week. In Obama on the Couch, George Washington University professor Justin Frank also reveals that Obama has spent much of his life seeking out father figures, but most, like Rev. Jeremiah Wright and Vice President Biden, have disappointed him. "Obama searched for a father, for someone to relate to who could help him—a strong man who knew what to do," Frank writes.

[Check out photos of Obama behind the scenes.]

This is Frank's second psychoanalytical book about a president. While a sympathetic look at Obama, it follows Bush on the Couch, a sharply critical analysis that suggested then President George W. Bush was disturbed. In that book, he predicted that someone like Obama—"completely different," "someone not ... white"—would succeed Bush. What the nation ended up with, however, is "an almost tragic figure," Frank writes.

The general theme is that Obama has been affected both by being biracial and by the abandonment of his two dads during his childhood. The result is that he is overly protective of his own nuclear family, desires greatly to see national unity, and yet harbors anger that he took out on bin Laden. [Vote now: Will Obama be a one-term president?]

Take for example Obama's earlier willingness to compromise with Republicans, upsetting his liberal base. Here Frank cites the negative influence of his parents, especially his mom, who often pressed him to do better in school. "He hates being pushed by supporters who want him to make good on his promises of universal healthcare and care for the poor, something that represents his mother and how she pushed him to study harder," Frank writes. And when he ignores his base, he is emulating his father, expressing annoyance but not worried they will desert him.

As for bin Laden, Frank writes that Obama's inner anger emerged: "He was able to pursue his action against bin Laden in part because bin Laden offered a displacement figure for Obama's rage toward his own parents." [ I believe this is factually incorrect and was mere political desperation by wobama et als; see infra, “Bin Laden” Heroes Probably Murderered to Keep Them Quiet  ... Gordon Duff Veterans TodayFLASHBACK: Eyewitness to OBL Raid Saw Helicopter Explode (TRANSCRIPT) [ As indicated on this albertpeia.com website, I didn’t buy the administration’s desperate and politically opportunist Osama event and still don’t buy it; and further, I believe this! ]Veterans Today | TRANSCRIPT of critical interview with Pakistani eyewitness to Bin Laden raid. Is this the key to SEAL Team 6′s demise? [See a slide show of 10 issues driving Obama's re-election campaign.]

Frank also calls Obama scared of the type of radical change he advocated in 2008. "He wants to be the father who makes change safe, the person he has waited for his entire life."

Browse: photos of 2012 GOP hopefuls on the campaign trail…’

 

BUCHANAN: Is the New World Order unraveling?  October 13, 2011 ‘With Greece on the precipice of default and Portugal and Italy approaching the ledge, the European monetary union appears in peril.

Should it collapse, the European Union itself could be in danger, for economic nationalism is rising in Europe. Which raises a larger question.

Is the New World Order, the great 20th century project of Western transnational elites, unraveling?

The NWO dates back as far as Woodrow Wilson's League of Nations, which a Republican Senate refused to enter. FDR, seeking to succeed where his mentor had failed, oversaw the creation of a United Nations, an International Monetary Fund and a World Bank.

In 1951 came the European Coal and Steel Community, love child of Jean Monnet, which evolved into the European Economic Community, the European Community and the European Union. A European Central Bank and a new currency, the euro, followed.

The hidden ultimate goal of economic union was political union – a United States of Europe as model and core of the 21st-century world government.

Pat Buchanan's latest book -- the title says it all: "Suicide of a Superpower: Will America Survive to 2025?"

With the disintegration of the Soviet Union, the EU expanded to the east. And the New World Order, formally proclaimed by George H.W. Bush in 1991, was out in the open and seemingly the wave of the future.

Progress was swift.

A North American Free Trade Agreement, bringing the United States, Mexico and Canada into a common market that George W. Bush predicted would encompass the hemisphere from Patagonia to Prudhoe Bay, was signed in 1993.

A World Trade Organization was born in 1994. U.S. sovereignty was surrendered to a global body where America had the same single vote as Azerbaijan.

The Kyoto Protocol, brought home by Vice President Al Gore, set up a regime to control the worldwide emission of greenhouse gases.

An International Criminal Court, a permanent Nuremberg Tribunal to prosecute war crimes and crimes against humanity, was created.

A doctrine of limited sovereignty had been asserted. Elites claimed a higher law than national sovereignty; "a responsibility to protect" enabled them to intervene in countries where human rights violations were egregious.

Serbia, bombed by Bill Clinton for 78 days for fighting to hold its ancient province of Kosovo, was the first victim.

Suddenly, however, the progression has stalled. Indeed, the New World Order seems to be unraveling.

Emerging powers like China, India and Brazil are demanding they be exempt from restrictions developed countries seek to impose. The follow-up summits to Kyoto – Copenhagen in 2009, Cancun in 2010 – ended in failure. The Doha round of world trade negotiations ended in failure.

China refuses to let her currency float lest she lose the trade surpluses that have enabled her to amass $3 trillion in cash reserves.

Protectionism is rising. Americans chafe at a new world economic order that has led to deindustrialization of their country. Congress is talking of defunding the U.N. as anti-Western and anti-Israel.

Why is the New World Order suddenly going in reverse?

A primary reason is the resurgence of nationalism. Nations are putting national interests ahead of any perceived global interests.

A second reason is the decline of a West whose project this was. We no longer dictate to the world, and the world no longer marches to our tune. The deficits and indebtedness of Western nations preclude more of the big wealth transfers in foreign aid that once bought us influence.

A third reason is demography. Not one European nation has a birth rate sufficient to replace its population. Europe's nations are aging, shrinking, dying. A depopulating Germany cannot carry forever the deficit-debtor nations of Club Med. The oldest nation, Japan, is on schedule to lose 25 million people by 2050, as is neighbor Russia.

Militarily, America remains the most powerful nation. But Iraq and Afghanistan have bled the country and left us without the certain attainment of our goals. Old allies like Turkey go their separate ways.

Ethno-nationalism also explains a disintegrating world order. Aspiring nations like Scotland, Catalonia, Padania, Flanders, Ingushetia, Dagestan, East Turkestan, Kurdistan and Baluchistan seek a place in the sun, free of the cloying embrace of the mother country.

The desire of peoples for nations all their own, where their own language, faith and culture predominate and their own kind rule to the exclusion of all others, is everywhere winning out over multiculturalism and transnationalism.

Through history there have been attempts to unite the world.

The Roman Empire. Catholicism. Islam. The West that ruled much of mankind from Columbus to the mid-20th century. Communism, which conquered half of Europe and Asia but arose and fell in a single century.

With the death of communism and the decline of the West – in relative population and power – Islam has become the largest religion, China the world's emerging superpower and Asia the continent of the future.

Could this still be the Second American Century?  [ Absolutely, unequivocally NOT! ]

Not the way we are going.’


Read more: Is the New World Order unraveling? http://www.wnd.com/index.php?fa=PAGE.view&pageId=355405#ixzz1aiOydNLu




Will U.S. Exploit Dubious Terror Case and Attack Iran? Kurt Nimmo | Another case of a clueless patsy entrapped by the U.S. government. TIMING? U.S. busts two Iranians today over terror plot Obama was briefed about in June... { U.S. accuses Iran of plot to kill Saudi ambassador [ Oh come on! That’s as likely as wmd’s in Iraq; or, america and israel hatching such a plot so they can blame same on Iran. The point is, when it comes to nations that both war-mongering israel/u.s. would love to make, not love, but war on, they’d literally say anything; even to the point of paying anyone to say anything … yellow cake anyone? (‘Bush and Iraq: Follow the Yellow Cake Road’ Read more: http://www.time.com/time/world/article/0,8599,463779,00.html#ixzz1aWL8TndC ‘...the White House defense, having now admitted a falsehood in President Bush's claim, in his State of the Union address, that Iraq had tried to buy uranium in Africa. Read more: http://www.time.com/time/world/article/0,8599,463779,00.html#ixzz1aWKsd9dp ] }
Drudgereport: WAR DRUMS: IRAN CALLS 'TERROR PLOT' LIE
Saudis say Iran must 'pay the price'...
Hillary: 'Dangerous escalation'...

 

Fed Insider Cain Caught In Brazen Debate Lie Paul Joseph Watson | Establishment favorite claims he never opposed audit of Fed.

 

Putin: US feeding off global dollar monopoly Russia Today| Pushing through energy deals and boosting cooperation with the aim of balancing out the economic and political dominance of the West. [ Of course Putin is quite right inasmuch as pervasively corrupt, defacto bankrupt america has an insurmountable fiscal gap of $211 trillion and like Greece et als, it’s not a matter of if, but when america defaults. ]

 

U.S. accuses Iran of plot to kill Saudi ambassador [ Oh come on! That’s as likely as wmd’s in Iraq; or, america and israel hatching such a plot so they can blame same on Iran. The point is, when it comes to nations that both war-mongering israel/u.s. would love to make, not love, but war on, they’d literally say anything; even to the point of paying anyone to say anything … yellow cake anyone? ]



Wall Street Puppet Obama Sympathizes With Anti-Wall Street Protests Steve Watson & Paul Joseph Watson | Claims Government has not gone after banksters because … [ More wobama b***s*** for the multi-trillion dollar fraud, still extant, etc.. Of course, as a total fraud himself, no small wonder that as per wobama’s fraudulent playbook the blatant wall street frauds are not, by him, considered fraud. Remember those ‘shovel ready’ jobs promised last (but eternal) campaign by wobama? Well, just those required to shovel his infinite b***s***. Then those fightin’ words from ‘the great prevaricator’ … (to GOP) unite behind his jobs bill or get ready to be run "out of town" … shows his disconnect with reality and proclivity for rhetoric / b***s*** since it’s he who should and will be ‘run out town on a rail’. He’s so pathetic! What a total loser! Who’s foolish enough to even listen to this total b***s*** artist wobama? ]

 

OWS Needs to Target Real Enemies Or Face Irrelevancy` Kurt Nimmo | Real enemies are the Bilderbergers, CFR, the Trilateral Commission, and the Federal Reserve — not lowly Wall Street stock brokers. [ This is quite incorrect! I’m not saying don’t target the Bilderbergers, CFR, the Trilateral Commission, and the Federal Reserve, etc.; but, for the most part, they are ‘frauds fait accomplis’, as ie., in accordance with the adgage ‘behind every fortune, a crime’ (subject to very few exceptions, ie., ‘the late, great Steve Jobs’ (bill gates is not among those exceptions). They (Alex Jones, et als) ignore, owing to their lack of ‘real world experience’, organized crime of its ‘various flavors’, ethnicities, even cabals / niches within government. The fact is and remains, as with politics (O’Neil), all crime is ultimately local. You must always prosecute the proximate crime causing the proximate harm without fail (nominal crimes as, ie., marijuana possession, should take a back seat to distribution, ie., cia, cartels, bribery, etc., given limited resources, budgetary constraints. After all, given the u.s. government’s involvement in the distribution aspects of the illegal drug business, ie., cocaine, etc., cia, etc., possession/use falls into the nebulous realm of civic / patriotic duty?). Only by so doing will you ultimately get those higher up on the criminal food chain who are ‘protected’ by layers of corrupt bureaucracy as is pervasive in american government / society, federal, state, and local. ]

 

Rick Perry's Pledge To Stand With Israel "as a Christian"...  [ Yes, indeed! This is as damaging to Christianity as it is helpful to Islamic fundamentalists, ‘extremists’, realists; in large part owing to the fact that such a position can’t be justified rationally, biblically, spiritually, morally, or realistically! ] Rick Perry's pledge to stand with Israel "as a Christian" is a gift to Islamic...

 

Analysis: what was so objectionable about Ahmadinejad’s speech? [ Nothing! As regards the twin towers reference, his position is consistent with in excess of 95% of those who’ve looked closely at same, including from an engineering perspective, as opposed to those who blindly accept the government ‘pablum’ of the neo-con cherished ‘pearl harbor event’ (that was wildly cheered by those israeli agents in Weehawken, n.j.) ]Activist Post | It is clear that Ahmadinejad’s address to the 66th Session of the United States General Assembly was not well met.




California City Closes Down Bible Study in Private Home Kurt Nimmo | In Orange County, California, it is illegal to hold a religious meeting in your home. In Orange County, California, it is illegal to hold a religious meeting in your home.[ How totally pathetic … California … truly the ‘land of fruits and nuts’! … Meanwhile, the inmates that run the asylum called California are releasing felons from prisons in droves because they can’t count, do simple math. Maybe if these peaceful people in the confines of their homes (it’s a jungle out there on the lawless California ‘streets’) were to commit serious crimes they would get more empathy, understanding from the inmates / criminals running the asylum they call California! Outrageous! ] ‘This is what Chuck and Stephanie Fromm, of San Juan Capistrano, discovered when they were fined $300 earlier this month for holding a Bible study class on their property.Officialdom in the county said the couple were singled out because it is considered illegal to hold “a regular gathering of more than three people” on private property. Officials stated that the Fromms require a license to hold meetings in their home.San Juan Capistrano authorities claim home Bible study is not allowed because it is a “church,” and churches require a Conditional Use Permit (CUP) in residential areas.The Fromms face additional fines of $500 per meeting for any further “religious gatherings” in their home, according to the Pacific Justice Institute.The city’s action is a brazen violation of the First Amendment, which guarantees free worship without government intervention.PJI and the Fromms plan to appeal a decision made by the city to uphold the fine and restriction to the California Superior Court in Orange County, according to KCOY 12 News, a Fox affiliate.Ironically, the city of San Juan Capistrano was founded as a mission in the late 1700s by Catholic priest Junipero Serra. A local chapel established by Serra is the oldest standing building in California.’

 

 

WIRELESS: Obama invested in Falcone-funded Co.... In ’05 Investing, Obama Took Same Path as Donors By MIKE McINTIRE and CHRISTOPHER DREW ‘Less than two months after ascending to the United States Senate, Barack Obama bought more than $50,000 worth of stock in two speculative companies whose major investors included some of his biggest political donors.

One of the companies was a biotech concern that was starting to develop a drug to treat avian flu. In March 2005, two weeks after buying about $5,000 of its shares, Mr. Obama took the lead in a legislative push for more federal spending to battle the disease.

The most recent financial disclosure form for Mr. Obama, an Illinois Democrat, also shows that he bought more than $50,000 in stock in a satellite communications business whose principal backers include four friends and donors who had raised more than $150,000 for his political committees.

A spokesman for Mr. Obama, who is seeking his party’s presidential nomination in 2008, said yesterday that the senator did not know that he had invested in either company until fall 2005, when he learned of it and decided to sell the stocks. He sold them at a net loss of $13,000.

The spokesman, Bill Burton, said Mr. Obama’s broker bought the stocks without consulting the senator, under the terms of a blind trust that was being set up for the senator at that time but was not finalized until several months after the investments were made.

“He went about this process to avoid an actual or apparent conflict of interest, and he had no knowledge of the stocks he owned,” Mr. Burton said. “And when he realized that he didn’t have the level of blindness that he expected, he moved to terminate the trust.”

Mr. Obama has made ethics a signature issue, and his quest for the presidency has benefited from the perception that he is unlike politicians who blend public and private interests. There is no evidence that any of his actions ended up benefiting either company during the roughly eight months that he owned the stocks.

Even so, the stock purchases raise questions about how he could unwittingly come to invest in two relatively obscure companies, whose backers happen to include generous contributors to his political committees. Among those donors was Jared Abbruzzese, a New York businessman now at the center of an F.B.I. inquiry into public corruption in Albany, who had also contributed to Swift Boat Veterans for Truth, a group that sought to undermine John Kerry’s Democratic presidential campaign in 2004.

Mr. Obama, who declined to be interviewed about the stock deals, has already had to contend with a controversy that arose out of his reliance on a major campaign contributor in Chicago to help him in a personal financial transaction. In that earlier case, he acknowledged last year that it had been a mistake to involve the contributor, a developer who has since been indicted in an unrelated political scandal, in deals related to the Obamas’ purchase of a home.

Senate ethics rules do not prohibit lawmakers from owning stocks — even in companies that do business with the federal government or could benefit from legislation they advance — and indeed other members of Congress have investments in government contractors. The rules say only that lawmakers should not take legislative actions whose primary purpose is to benefit themselves.

Mr. Obama’s sale of his shares in the two companies ended what appears to have been a brief foray into highly speculative investing that stood out amid an otherwise conservative portfolio of mutual funds and cash accounts, a review of his Senate disclosure statements shows. He earned $2,000 on the biotech company, AVI BioPharma, and lost $15,000 on the satellite communications concern, Skyterra, according to Mr. Burton of the Obama campaign.

Mr. Burton said the trust was different from qualified blind trusts that other senators commonly used, because it was intended to allow him greater flexibility to address any accusations of conflicts that might arise from its assets. He said Mr. Obama had decided to sell the stocks after receiving a communication that made him concerned about how the trust was set up.

The investments came at a time when Mr. Obama was enjoying sudden financial success, following his victory at the polls in November 2004. He had signed a $1.9 million book deal, and his ethics disclosure reports show that he received $1.2 million of book money in 2005.

His wife, Michelle, a hospital vice president in Chicago, received a promotion that March, nearly tripling her salary to $317,000, and they bought a $1.6 million house in June. The house sat on a large property that was subdivided to make it more affordable, and one of Mr. Obama’s political donors bought the adjacent lot.

The disclosure forms show that the Obamas also placed several hundred thousand dollars in a new private-client account at JPMorgan Chase, a bond fund and a checking account at a Chicago bank.

But he put $50,000 to $100,000 into an account at UBS, which his aides say was recommended to him by a wealthy friend, George W. Haywood, who was also a major investor in both Skyterra and AVI BioPharma, public securities filings show.

Mr. Haywood and his wife, Cheryl, have contributed close to $50,000 to Mr. Obama’s campaigns and to his political action committee, the Hopefund. Mr. Haywood declined to comment.

Within two weeks of his purchase of the biotech stock that Feb. 22, Mr. Obama initiated what he has called “one of my top priorities since arriving in the Senate,” a push to increase federal financing to fight avian flu.

Several dozen people had already died from the disease in Southeast Asia, and experts were warning that a worldwide pandemic could kill tens of millions of people. Mr. Obama was one of the first political leaders to call for more money to head off the danger, which he described as an urgent public health threat.

His first step came on March 4, 2005, when the Senate Foreign Relations Committee approved his request for $25 million to help contain the disease in Asia; the full Senate later approved that measure. And in April 2005, he introduced a bill calling for more research on avian flu drugs and urging the government to increase its stockpiles of antiviral medicines.

Mr. Obama repeated this call in a letter that Aug. 9 to Michael O. Levitt, the health and human services secretary. And in September 2005, Mr. Obama and Senator Tom Harkin, Democrat of Iowa, succeeded in amending another bill to provide $3.8 billion for battling the flu.

Meanwhile, the drug company in which he invested, AVI BioPharma, had been working to develop its own medicine to treat avian flu victims. In a conference call with Wall Street analysts on March 8, 2005, the company’s chairman, Denis R. Burger, said the firm was “aggressively going forward” with its avian flu research and hoped to work with federal agencies on it.

The company, which is also developing medicines in a number of other areas, provided several updates on its avian flu research in 2005, including one on Oct. 21 saying the company was likely to develop a treatment for avian flu “in a relatively short time.”

Mr. Obama sold what appears to have been about 2,000 shares of the company’s stock a week later, when it traded at about $3.50 a share, or about $1 a share more than when he bought it. Company officials said they never talked to the senator about his work on avian flu. And while the company has received millions of dollars in federal money to develop drugs for treating ebola and other serious diseases, it still has not received any federal money for its avian flu research.

The company’s stock briefly surged to nearly $9 a share in January 2006 when it announced promising research findings on the flu drug. But the company still has not applied for federal approvals to test and market the drug.

Unlike his investment in AVI, which yielded a small profit, Mr. Obama’s stake in Skyterra Communications went in the opposite direction, despite a promising start.

He bought his Skyterra shares the same day the Federal Communications Commission ruled in favor of the company’s effort to create a nationwide wireless network by combining satellites and land-based communications systems. Immediately after that morning ruling, Tejas Securities, a regional brokerage in Texas that handled investment banking for Skyterra, issued a research report speculating that Skyterra stock could triple in value.

Tejas and people associated with it were major donors to Mr. Obama’s political committees, having raised more than $150,000 since 2004. The company’s chairman, John J. Gorman, has held fund-raisers for the senator in Austin, Tex., and arranged for him to use a private plane for several political events in 2005. Mr. Gorman declined to comment.

In May 2005, Mr. Abbruzzese, who was vice chairman of Tejas and a principal investor in Skyterra, contributed $10,000 along with his wife to Mr. Obama’s political action committee — a departure from his almost exclusive support of Republicans. Eight months earlier, for instance, he had contributed $5,000 to the Swift Boat group, and he has given $100,000 to the Republican National Committee since 2004.

Last year, Mr. Abbruzzese, a major investor in several high-tech companies in New York and elsewhere, emerged as a central figure in the federal investigation of the New York State Senate majority leader, Joseph L. Bruno. The inquiry is examining Mr. Bruno’s personal business dealings, including whether he accepted money from Mr. Abbruzzese in return for Senate approval of grants for one of Mr. Abbruzzese’s companies. Both men have denied any wrongdoing. Mr. Abbruzzese did not return phone calls seeking comment.

Skyterra’s share price was lifted into the $40 range for a time on the strength of the F.C.C. ruling, but eventually drifted down into the low 30s, and was at $31 when Mr. Obama sold his shares for a $15,000 loss on Nov. 1, 2005. A few months later, it plunged into the $20 range, and today trades below $10 a share. A spokesman for Skyterra said the company’s top officials had not been aware of Mr. Obama’s investment.’

 

 

Joe McGinniss Sarah Palin Book, 'The Rogue,' Makes Controversial Claims About Former Alaska Governor  ‘Joe McGinniss's new book, The Rogue: Searching for the Real Sarah Palin, hits bookstores next week, but its controversial claims about the former Alaska governor are already making waves.

In the book, McGinniss writes that Palin had a one-night stand in 1987 with future NBA basketball player Glen Rice nine months before she married her husband Todd. He quotes a friend who said Palin "had a fetish for black guys for a while."

"She was a gorgeous woman. Super nice. I was blown away by her," Rice tells McGinniss in the book, NBC reports. "Afterward, she was a big crush that I had."

McGinniss's book also alleges that Palin had an extramarital affair with her husband's business partner, Brad Hanson, in the mid-1990s, and snorted cocaine off a 55-gallon oil drum while snowboarding.

"An utter fraud. An absolute and utter fraud," McGinniss calls Palin in an interview about the book with NBC.

"At best, she's a hypocrite," McGinniss tells NBC's Savannah Guthrie. "At worst, she's a vindictive hypocrite."

McGinniss famously moved into a house next door to Palin's Wasilla, Alaska home to write his book -- prompting the Palins to accuse him of stalking them. They built a high fence along their property to protect their privacy.

In response to McGinniss's book, Todd Palin gave a statement to NBC saying that McGinniss "spent the last year interviewing marginal figures with an axe to grind in order to churn out a hit piece to satisfy his own creepy obsession with my wife."

"I'd ask the fathers and husbands of America to consider our privacy when one summer day I found this guy on the deck of the rental property, just 18 feet away next door to us, staring like a creep at my wife while she mowed the lawn in her shorts," Palin said.

McGinniss says that anything he learned about Palin by living next door did not make it into the book, but he does become a character in the story himself.

The New York Times writes in its review:

Soon Mr. McGinniss is settling in to enjoy the fuss his mere presence has created. "Normally, for a news story to continue beyond the first 24-hour news cycle, something newsworthy must occur," he writes loftily, but "The Rogue" is filled with proof to the contrary. What was his hate mail like? He quotes it. What did Glenn Beck call him? That’s here too. Who took umbrage at this venom and chose to help him? One man offered him a hideout, despite Mr. McGinniss's slight skepticism about his motives. "But you don’t know me," Mr. McGinniss protested.

McGinniss's book is scheduled to hit bookstores on Tuesday, Sept. 20.’

The Rogue: Searching For The Real Sarah Palin' Cover Revealed Call it Palin Noir. Joe McGinniss' upcoming biography of Sarah Palin has a cover design more fitting for a detective novel. It has a bold...

Joe McGinniss, Palin Neighbor & Author, Leaving Wasilla To Write Book ANCHORAGE, Alaska — Sarah Palin can take down the fence. Palin's neighbor of three months on Wasilla's Lake Lucille, author Joe McGinniss, is packing his...

Bristol Palin Interview Accidentally Reveals Mother's 15 Abortions  www.theonion.comWASILLA, AK—Sarah Palin's political team was forced to do emergency damage control Monday after the former Alaska governor's daughter Bristol accidentally divulged on live television that her mother has undergone at least 15 abortions over the past 30 years. "She's always telling me how special I am, especially considering the five or six babies she aborted before I was born," Palin, 20, said during a CNN interview in which she was asked if she thought her mother would make a good president. "Then of course there were the twins she aborted shortly after having me, another four abortions after Willow somehow survived hers—but anyway, she's a wonderful mom. She just gets pregnant a lot and doesn't always want to have the baby." Palin also commended her mother's strength in carrying three babies with Down syndrome to term, and then even choosing not to give Trig up for adoption like the others.

 

Ralph Nader: U.S. is a two party dictatorship Raw Story | “It’s a two party dictatorship unless you’re worth billions of dollars.”

 

Astronauts' tracks, trash seen in new moon photos [ The easiest thing in the world to contrive (don’t forget they can with some precision today send robotics to ie., mars, etc.) and doctor so don’t be taken in by their fraudulent b***s***! They’re probably desperately looking for some money / budgetary consideration for their continued boondoggles. No man has ever set foot on the moon to date. As NASA transitions, U.S. space politics in a state of flux  (Washington Post) [ U.S. space politics? I didn’t know there was such a thing. But I, and I’m sure all know that ‘u.s. politics are spaced’. Flux? One could only hope. I’d say, ‘fleeced’; as in we’ve all been fleeced.  Sterner: 5 myths about NASA   (Washington Post) [ If you can’t get past the first myth; viz., that they actually set foot on the moon, the other 5 so-called myths become irrelevant. Indeed, post-Eisenhower, and certainly post-Kennedy-assassination / coup d’etat, NASA was all military / military industrial complex (moreover, someone knowledgeable about such matters said essentially that in explaining to my surprise the transition to the shuttle program it was said there was greater military application in same). In any event, Russia’s been doing quite a bit of ‘heavy lifting’ vis-à-vis the space station, but not inordinately so. All I can say with certainty is that the universe beyond this solar system is forever protected / insulated. The fact is, they never set foot on the moon; and, in light of the pervasive corruption in and defacto bankruptcy of the nation, their perpetual wars toward making a hell on earth militate against anything but trying to do even just a little bit better (for a start), terrestrially.   NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:   Launch of secret US space ship masks even more secret launch of new weapon    The Militarization of Outer Space: The Pentagon’s “Space Warriors”  Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”      buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ... OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).


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 don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.

First fake moonwalker blasts Obama's space plan  msnbc.com - 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    ]

 

AMERICA FALLS TO 5TH PLACE...The U.S. has tumbled further down a global ranking of the world's most competitive economies, landing at fifth place because of its huge deficits and declining public faith in government, a global economic group said Wednesday.

The announcement by the World Economic Forum was the latest bad news for the Obama administration, which has been struggling to boost the sinking U.S. economy and lower an unemployment rate of more than 9 percent. Switzerland held onto the top spot for the third consecutive year in the annual ranking by the Geneva-based forum, which is best known for its exclusive meeting of luminaries in Davos, Switzerland, each January. Singapore moved up to second place, bumping Sweden down to third. Finland moved up to fourth place, from seventh last year. The U.S. was in fourth place last year, after falling from No. 1 in 2008.

The rankings, which the forum has issued for more than three decades, are based on economic data and a survey of 15,000 business executives.

The forum praised the U.S. for its productivity, highly sophisticated and innovative companies, excellent universities and flexible labor market. But it also cited "a number of escalating weaknesses" such as rising government debt and declining public faith in political leaders and corporate ethics.

The results of a survey of 142 nations comes a day before Obama is preparing to tackle jobs issues in a speech to the U.S. Congress, and just as U.S. polls show a clear majority of those surveyed say they disapprove of the way Obama is handling the economy.

 

Switzerland held onto its top ranking, the forum said, because of "continuing strong performance across the board" with innovation, technological readiness, even-handed regulation and having one of the world's most stable economic environments.

Germany, Europe's economic powerhouse, was sixth, followed by the Netherlands and Denmark. Japan came in ninth, and Britain was 10th. France was 18th, and Greece, saddled with debt, fell to 90th.

The report looked at broader trends: While the U.S. slipped, emerging markets gained traction. China took 26th place, highest among major emerging economies; Brazil was 53rd; India was 56th; and Russia was 66th.

"Fiscal imbalances that have been building up around the world are really a danger to future competitiveness, in terms of the ability of countries to invest in those things that will be very important for competitiveness going forward, things like education, infrastructure and so on," said Jennifer Blanke, an economist with the forum.’

 


Gunman wounds several at Nevada restaurant Washington Post - A man with a rifle shot a group of uniformed members of the National Guard. Officers review evidence, including bullet holes, at the scene of a shooting at an IHOP restaurant in Carson City, Nev. 4 dead, including shooter, in Nev. IHOP attack CBS News  Sheriff: Gunman used AK-47 in IHOP shootingThe Associated Press   Shooting at IHOP Restaurant in Nevada Kills Two National Guard Members, At ... Fox News  [ I heard this breaking story as it came across the radio – the soundbite was from someone being interviewed (I didn’t catch the name or position), who said such as this incident happens in third world countries, not here. Au contraire! Take a good look … from Philly, to Chicago, to Detroit, to Newark, to New York, to Miami, to Los Angeles, etc., to crime rates worldwide (u.s. is no. 1 by far), to pervasive corruption, to pervasive fraud (gov’t sanctioned), to meaningful lawlessness and arbitrary enforcement, to gunboat diplomacy and perma wars, to over-printed ever-more worthless currency, to insurmountable debt (promises to pay, unfounded liabilities) etc., … defacto bankrupt america is a third-world country, and the biggest by far with much further to fall …] Legendary Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different bananas perhaps? [ Of course this is absolutely true! And not just from the meaningfully lawless perspective – I had made such a statement on the record in a LA Superior Court Appellate Dept. proceeding in which said court literally ignored the law (the same is true of the costly, plushly accoutered lifetime appointee federal courts) which courts should indeed be abolished in these difficult economic / budgetary times. Additionally, from pervasive corruption, to debased over-printed currency, to gunboat diplomacy, to total incompetence, etc., america is indeed a banana republic at most.] 

 

 

MSNBC Yet Again Implies Criticism of Obama Is Racist Paul Joseph Watson | General Electric-owned (49%) network is earning its federal bailout money. [Yet, it’s holder / wobama who’re the racists … Robinson: King’s dream remains unrealized  (Washington Post) [ Yeah! That ‘content of their character’ thing’s a b***ch to live up to … just don’t measure up! What’s a white person to do, especially when black atty. General Holder with fellow black Obama’s tacit approval is racist himself (themselves)  UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '. Drudgereport: 'Mob' beatings at WI state fair...
'Hundreds of young black people beating white people'... [ Typical…  ]
Fairgoers 'pulled out of cars'...
'They were just going after white people'...
Heightened security...

[ .. (the following incident is my personal experience: black perps, white victims)‘.. while walking through Military Park (a sliver of a “park” - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DA’s position with both felonies ( he went to prison – pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of ‘bystander effect’ / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp (a police officer here in California was the object of intense criticism for having used a flashlight to subdue a criminal after a long chase so I included that here) . The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal went to jail (where they belong). The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so. I was also mugged by 4 blacks and 2 hispanics in an incident here in Los Angeles, CA. But, to be fair and balanced, the RICO litigation involves those uncivilized who consider themselves ‘whites’ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  (predominantly but not exclusively jews / romans-italians / mobsters / government slugs). ]

 

 

Dick Cheney’s self-serving memoir  REVIEW | “In My Time” serves mainly to reaffirm the former vice president’s lack of regrets. (Washington Post) [ Yes. Lack of regrets. That is exactly what you’d expect from an unconflicted psychopath as war criminal cheney most certainly is. The unassuming cheney, barely noticeable in his prior manifestations in one form / position or another, in trying so desperately to imprint himself on the administration of fellow war criminal and moron bush, has been nothing short of disastrous for the world and this country particularly. Clearly, the meds cheney’s had to consistently take have shaken up / messed up his body / brain chemistry to the point where cheney’s nothing less than psychotic in the most negative sense. Indeed, his ‘change’  from somewhat balanced to psychopathic was not lost on former supporter / endorser Gerald Ford who commented publicly, albeit euphemistically, on how mean cheney had become. Such is the way / demeanor of a psychopath upon that defining break from sanity. For those soldiers who were called upon to carry out his sociopathic obsessions, his message to them in explaining his 5 deferments when his nation called on him was that he had better, more important things to do (school deferments). Psychopath that cheney is, and nothing more, who has cost this world and nation immeasurably, cheney is indeed the proverbial ‘dead man walking’.  Dick Cheney: One Year As a Walking Zombie Paul Joseph Watson & Alex Jones | Former VP marks anniversary as member of the living dead.  10 Indications The United States Is A Dictatorship    http://www.activistpost.com/2011/05/10-indications-united-states-is.html   8. Torture: Torture has long been a tactic used by America. In fact it runs the leading school on its methods.  The School of the Americas has been responsible for training Latin American dictators and their thugs on how to intimidate the local population and rule with an iron fist.  However, the torture debate has hit mainstream media in a serious discussion about its effectiveness, especially following the assassination of Osama bin Laden.  Aside from the despicable morals involved, torture doesn’t work for intelligence gathering, according to experts.  Furthermore, the legalization of torture was what really brought the dreaded Russian secret police out into the open.  When such a declaration is made, it is literally a recruiting strategy to find the criminals and sadists who would love to be part of such a system.  Torture is not normal work for normal people; it is the work of psychopaths such as Dick Cheney who loves the tactic of waterboarding so much that he has stated it should be brought back and used more widely.  No nation that uses torture to obtain confessions can be called legitimate. It is only used as a tool of intimidation and oppression by totalitarian regimes…’

 

 

Is Apple Evil? Paul Joseph Watson & Alex Jones | Ethical grandstanding fails to hide transhumanist, oppressive background of technology giant. [ If I hadn’t experienced censorship at the hands of alex jones et als (inveterate hypocrites who are constantly ranting about censorship and being cut off from mainstream news) I’d be reluctant to write as follows since I do feel what they do to be important in providing access to otherwise inaccessible news / data and I am as such compelled to include links to their news on my site. That said, clearly Jones et als must have too much time on their hands in ‘mentally masturbating’ over what they deem to be a slight by Apple on the human race. How pathetic they truly are! Forever defending indefensible human, and particularly american, traits from deserved, just criticism, slights; particularly concerning the inherent criminal nature of same. I must say, reiterate, they really are pathetic; and, in paranoid fashion, they are continually hearing the footsteps of reality creeping up behind them. Indeed, a reality that precludes them from that proverbial ‘good look in the mirror’. In any event, not to worry about irrelevancies, things that don’t matter: Drudgereport: NASA REPORT: Aliens may destroy humanity to protect other civilizations … [ Naah! Really don’t have to .. confined to this solar system, by hand of God or man, we’re only talking decades at most  ] ...  ]



Play It Again Sam: Dave's Daily  [ As always, Dave is spot-on as an astute, knowledgeable, seasoned veteran of the markets. ] ‘ In our little village in New Hampshire (call it Whoville) there's a summer stock playhouse a block or so from us. They have many good plays but no matter the production or quality, they can't top Wall Street from delivering great performances. Thursday was another great show starring Jobless Claims, Warren Buffet, HAL 9000s, Steve Jobs and, of course, Da Boyz running the CRIMEX (COMEX and CME) on precious metals options expiration.   

The spin on Jobless Claims data was prior claims were adjusted higher making recent higher claims look not so bad especially when you add Verizon workers.

Warren Buffett entered from stage left with a $5 billion investment in Bank of America (BAC) giving him 6% interest tax-free (a "coddled" billionaire?) and making he and Berkshire (BRK) a new TARP program.

The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many buy or sell programs using complex algorithms which can drive prices on indexes higher or lower in dramatic fashion. One of their great acts is called "quote stuffing". It's another illegal activity which the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven recent end-of-quarter price jam-job. One of these actions was featured courtesy of our friends at Zero Hedge and depicted below as it occurred Thursday afternoon. The first chart features the quotes per second (NOTE: one instance exceeding 800 quotes per second). The next chart shows the market's simultaneous reaction. 

http://www.thestreet.com/tsc/daves/082511/image002.jpg

Steve Jobs sadly is retiring from his leading role as Apple (AAPL) CEO but the stock hardly budged given the products and brand are already well-known and his retirement was much anticipated.

Last, but not least certainly, was the performance of Da Boyz production of gold price manipulation. The first bear raid occurred Tuesday as The Shanghai Gold Exchange raised margins putting pressure on prices Wednesday in the U.S. Not so secretly evidently, Da Boyz met in Chicago and determined to raise gold margins after the close of trading on Wednesday--this being done with prices already down $100. This action was obviously leaked to those in the options pits and the impact enhanced with options expiration Thursday. So we gapped down lower with this event no doubt triggering more stops. This made the strike price hunt down profitable for those on the floor. Once those cleared we rallied back and closed slightly higher on the day. 

http://www.thestreet.com/tsc/daves/082511/image003.jpg

Meanwhile, back at Wall & Broad stocks fell sharply because evidently there's some concern Ben will do nothing in launching another round of QE from Jackson Hole. Bond prices were higher as was the dollar while commodity prices overall were mixed.

Volume was higher once again on selling and breadth per the WSJ was quite negative putting more life back into the roller coaster ride…’

 

‘Play it again Sam’  http://www.phrases.org.uk/meanings/284700.html   ‘ORIGIN

Bogart's supposed line from Casablanca. This is well-known as one of the most widely misquoted lines from films. The actual line in the film is 'Play it, Sam'. Something approaching 'Play it again, Sam' is first said in the film by Ilsa Lund (Ingrid Bergman) in an exchange with the piano player 'Sam' (Dooley Wilson):

Ilsa: Play it once, Sam. For old times' sake.
Sam: I don't know what you mean, Miss Ilsa.
Ilsa: Play it, Sam. Play "As Time Goes By."
Sam: Oh, I can't remember it, Miss Ilsa. I'm a little rusty on it.
Ilsa: I'll hum it for you. Da-dy-da-dy-da-dum, da-dy-da-dee-da-dum...
Ilsa: Sing it, Sam.

The line is usually associated with Humphrey Bogart and later in the film his character Rick Blaine has a similar exchange, although his line is simply 'Play it':

Rick: You know what I want to hear.
Sam: No, I don't.
Rick: You played it for her, you can play it for me!
Sam: Well, I don't think I can remember...
Rick: If she can stand it, I can! Play it! ‘

 

 

Facebook "Places" List Signals Decline of Western Civilization at Minyanville Justin Rohrlich  ‘Okay, it's official: the United States is pathetic … From Mashable comes the first set of Facebook-supplied data regarding where their users "check in"...and it ain't pretty:

1. Starbucks

2. Buffalo Wild Wings

3. Chili’s

4. Applebee’s

5. McDonald’s

6. IHOP

7. Denny’s

8. Olive Garden

9. T.G.I. Friday’s

10. The Cheesecake Factory


Yep, that's where we stand these days -- of the 157 million Facebook users in the United States, these are the ten locations they frequent most. Not the restaurants they frequent most. The PLACES they frequent most. If that doesn't signal America's imminent decline, maybe the Pennsylvania middle school principal who is bringing his sheep to work because lawnmowers are breaking the budget, will. Just askin'. ‘

 

Buchanan: The view from Martha's Vineyard... Patrick J. Buchanan ‘As he and his daughters bicycle around the summer playground of the Northeastern elite, Martha's Vineyard, President Obama is steadily bleeding away both the support of the nation and that of his most loyal constituency. Several times, his approval rating in Gallup's daily tracking poll has sunk to 39 percent, with disapproval reaching 54 percent. Support for his handling of the economy has dipped to the mid-20s. Only 11 percent of Americans, says Gallup, are satisfied with the way things are going. Unemployment remains at 9 percent, as it has for two years. The Dow has lately lost 2,000 points, or $3 trillion in wealth wiped out. All that money the Fed pumped out is now being reflected not only in the price of gold, silver and Swiss francs, but in rising consumer prices – inflation. One in five U.S. children is living in poverty.

Middle America, some time ago, decided the "hopey, changey thing" was not working out for them. Now the patience of African-Americans with a president for whom they voted 24 to one is wearing thin.

At a Black Caucus confab in Detroit, Rep. Maxine Waters told an angry audience that if and when Black America demands that they confront Obama, the caucus is ready "to have the conversation."

A collision between Obama and his base seems inevitable. For Black America's situation, though tough today, seems certain to get tougher. Why?

First, black Americans held a significant share of the subprime mortgages that went sour when housing prices went south, and are thus overrepresented among those who lost homes.

Second, black Americans, with a higher rate of poverty, depend more on the entitlement and social programs that Obama cannot avoid hoisting onto the chopping block in any "balanced" plan for dealing with the deficit-debt crisis.

Third, African-Americans are overrepresented among the 22 million who work for local, state and federal governments. And while government workers came out best in terms of job security and salary hikes in the stimulus days of 2009 and 2010, in the austerity days of 2011, they are getting their fair share of pink slips. It is almost a truism: Whenever Middle America goes into recession, Black America flirts with depression.

Consider the U.S. Postal Service, with 600,000 employees, running a deficit of $8.5 billion and facing layoffs of 120,000. According to William Burrus, ex-president of the Postal Workers Union, 21 percent of all postal employees are black. When the cuts come, minorities will take a big hit.

That African-Americans favor a powerful federal government is understandable. After all, it was the federal government that crushed the Confederacy, freed the slaves, sent troops to integrate the South, enacted the civil rights laws, imposed affirmative action on companies and colleges, and created the Great Society that provided trillions in wealth transfers and welfare benefits and employs a share of the black population that is nearly twice its representation in the labor force.

That African-Americans would see states' rights conservatives and small-government Republicans as hostile to the one powerful institution most friendly to them should come as a no surprise.

Here we come to Barack's dilemma.

The nation he leads is facing a deficit-debt crisis that comes of an inescapable truth: Whether we are talking about commitments to go to war to defend scores of nations or commitments to entitlement and Great Society programs such as Social Security, Medicare, Medicaid, earned income tax credits, food stamps and Pell grants, we Americans have handed out promissory notes we no longer have the means to meet.

We can no longer deliver what we have promised.

We are running deficits of 10 percent of gross domestic product with a national debt over 100 percent. We are on the path that Italy is following, which is the path that Greece pursued.

We are an overextended empire and commonwealth facing strategic and fiscal bankruptcy. If Obama is to lead the nation out of the crisis it confronts, he has to preside over a downsizing of the welfare-warfare state – the same state that sustains his base.

Not to worry, we are told. When the lazy days of summer are over, Obama will present Congress with his big plan for resurrecting the economy and ensuring the long-term solvency of the nation.

Obama's September program – indeed, any credible plan to revive the economy and bring our books into balance – has to include a rollback of U.S. commitments at home and abroad.

Yet, domestically, this cannot be done without reducing future Social Security, Medicare and Medicaid benefits, and cutting and capping the social programs of the Great Society. Moreover, half the nation cannot freeload forever, as is the case today, contributing nary a dime in federal income taxes.

And such reforms must adversely impact most Obama's political and personal base.

If he proposes new taxes, tea-party Republicans fix bayonets.

If he proposes downsizing the government and cutting and capping social programs, his most loyal constituents rise up against him.

Enjoy the Vineyard, Mr. President. Read more: The view from Martha's Vineyard http://www.wnd.com/index.php?fa=PAGE.view&pageId=335265#ixzz1VQWOeKDx

 

Putin sets sights on Eurasian economic union FT | Putin hopes to build a “quasi-European Union” out of former Soviet states.

 

 

Cracked Fukushima: Radioactive steam escapes danger zone RT | Workers at Japan’s Fukushima plant say the ground under the facility is cracking and radioactive steam is escaping through the cracks.

 

Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.”

 

Perry Apes Ron Paul in Attack on Fed Cartel Kurt Nimmo | If Perry becomes president, his pretend opposition to the Fed will evaporate faster than Obama’s promise to bring the troops home.

 

Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.

Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ]New low of 26% approve of Obama on economy...
Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

Even that italian, belafonte, isn’t buying ‘wobama brand(ed)’:

Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 

 

 

 

 

SEC accused of destroying files Former agency official says SEC violated federal law by destroying records of enforcement cases in which it decided not to file charges. (Washington Post) [ Duh, ya think? The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!     SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission may have destroyed documents and compromised enforcement case ...   Grassley: Agency may have got rid of Goldman, Madoff documents   Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) — The Securities and Exchange Commission may have destroyed documents and compromised enforcement cases involving activity at large banks and hedge funds during the height of the financial crisis in 2008, according to allegations made by a lawmaker on Wednesday. “From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” said Sen. Chuck Grassley, Republican of Iowa, in a letter to the agency’s chairman, Mary Schapiro. Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.” Agency staff “destroyed over 9,000 files” related to preliminary agency investigations, according to a letter sent in July to Grassley, the top Republican on the Senate Judiciary Committee, and obtained by MarketWatch. The allegations were made by SEC enforcement attorney, Darcy Flynn, in a letter to Grassley. Flynn is a current employee, and according to the letter, received a bonus for his past year’s work. Flynn alleges the SEC destroyed files related to matters being examined in important cases such as Bernard Madoff and a $50 billion Ponzi scheme he operated as well as an investigation involving Goldman Sachs Group Inc. GS +0.33%   trading in American International Group credit-default swaps in 2009. Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. WFC +1.34% , Bank of America Corp. BAC +0.81% , Citigroup C +0.13%  , Credit Suisse CS +0.38%  , Deutsche Bank DB +0.79%  Morgan Stanley MS -0.06%  and the now-bankrupt Lehman Brothers. The letter goes into particular detail about Deutsche Bank, the former employer of current SEC enforcement chief Robert Khuzami as well as former enforcement chiefs Gary Lynch and Richard Walker…’

Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ [ Oh but it does make sense Sen. Grassley:   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ]

 

 

Carlyle in diversification flurry Carlyle is expected to announce $40 million in energy investments, capping a two-week flurry of deals.  (Washington Post) [ Yeah! You’d expect that from the likes of them; you know, a ’flurry’ so close to the election; quid pro quos, bribes and things … Flashback: Carlyle picks underwriters for IPO  (Washington Post) [ Clearly part of the problem. ‘Cashing out’ while the ‘goin’s good’, gettin' out while the gettin’s good? Well what else is wall street for? Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher. Yes, it’s normal for insiders to be selling some of their stocks so they can buy new yachts and some of this is pre-planned. But that ratio — which has spiked recently — is extraordinarily high, one might even say off-the-chart.   The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed… an especially great opportunity to sell / take profits while you still can since there's much worse to come!    Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’  He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows    Previous: Carlyle Group planning IPO (Washington Post) [  Come on! Mr. Heath makes this sound like an almost public service endeavor to serve the public interest in some vague, nondescript fashion (What of real value do they do? … kind of like the fraudulent wall street high-frequency trading churn-and-earn … Nothing! … Like parasitic termites eating away at the foundation of the nation); poppy’s estate plan is maximized, along with the other principal’s financial interests by cashing out through this ‘public offering / scam’ as for the most part, this era of their ‘jig is up’ .   Meet The Carlyle Group - Former World Leaders and Washington ... How will President George W. Bush make a personal fortune from the War on Terror? The old fashioned way. He'll inherit it; Meet the Carlyle Group.
www.hereinreality.com/carlyle.html

How will President George W. Bush personally make million$, if not billion$ from the War on Terror? The easy way.  He'll inherit it.

Meet the Carlyle Group

Former World Leaders and Washington Insiders Making Billions in the War on Terrorism

Bush       Baker   Carlucci    Darman   Major    Ramos

http://www.angelfire.com/indie/pearly/htmls/bush-carlyle.html    Investment giant says it will likely sell shares. Defense Secretary Robert M. Gates tours eastern Afghanistan, days before the Obama administration is scheduled to complete a major review of its war strategy. ]

 

Make way for the ‘super bundlers’  The 2010 elections saw the rise of “Super PACs.” In 2012 it will be a new breed of fundraisers. (Washington Post) [ ‘Super bundlers’? If Mr. Eggen had said ‘facilitators for the super bunglers’, I would have recognized what he meant. But, ‘super bundlers’ immediately brings to mind another kind of fraud / scam, viz., those ‘bundled’ toxic asset worthless paper securities things so lucratively popularized by the frauds on wall street with the blessing of their ‘amen corner’ in Washington to the detriment of this and other nations and particularly this nation’s taxpayers / middleclass who’ve been decimated. If he had called them what they more realistically are, viz., visible slush funds for those visible invisible quid pro quo / bribe schemes, welfare of the nation be damned, I indeed would have known what I think he meant.  Is Obama’s fate written in numbers? Recent economic data amounts to a formidable headwind for any incumbent president hoping for a second term. And Democrats worry time is running out. (Washington Post) [ Let’s just say the fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif  . ‘Don’t cry for him new argentina, the truth is he really screwed you’ … well you know that familiar theme and can ad lib, insert your own words! 
It’s still Obama’s party Why he won’t face a primary challenge: Republicans and racial politics. (Washington Post) [  It’s true … so right you are! Al Gore’s even pitchin’ in by donating the talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song in wobama’s honor (kidding) which goes something like this , ‘It’s his party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would cry too, if obama happened  to you …  Well, there you go … if the song says it it must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...
ignore cases that involve black defendants and white victims' – Time to get whitey, at last, at last, etc., say holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger, the mobster, either!’


Postal Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it’s a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable:  October 15, 2010 (*see infra {ultimately delivered by UPS})


SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!


 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     crossexamofcoanbypeia.pdf   ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 


http://www.albertpeia.com 

 

 

 

Sincerely and Regards,

 

Al Peia

 

 

In euro crisis, signs of German fatigue  Politics keep the chancellor from putting full weight of Europe’s largest economy behind a solution (Washington Post) [ Yeah … ‘square pegs in round holes’ is definitely not Germany’s style. European economies brace as Germany slows Discouraging news about the pace of growth came just hours before German and French leaders called for new steps to impose discipline on governments whose lax budget practices prompted the debt crisis. (Washington Post) [ First, let’s call this economic scenario what it is; viz., the ‘d’ word … ‘depression’. For those who find that term unutterable, then ‘double-dip recession’ is the term for you. All the dollar debasement (over-printing, etc.) for the benefit of the frauds on wall street et als to the substantial detriment of everyone else can’t change and has exacerbated and obfuscated this fact. Moreover, there has been a manipulated churn-and-earn high-frequency trading bubble-bull cycle in what is unmistakably a secular bear market.   Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1    Europe’s crisis and the psychology of fear   (Washington Post) [ Given the reality and magnitude of Europe’s problems going forward, dwarfed only by the magnitude of those of pervasively corrupt, defacto bankrupt america, it brings to mind the words of the former Intel CEO (co-founder) Andy Grove ‘ Only the paranoid survive’ (of course, having survived the Nazis and escaped Communist-controlled Hungary in Europe, as a jew, one has to assume his perspective / outlook was somewhat ‘skewed’ thereby). Yet, let’s not kid ourselves to the point where virtual survival is threatened and at stake as is so for the EU. America isn’t alone in the downgrade spiral  (WP) Indeed, the EU has followed the contra-indicated perma war, evermore worthless Weimar currency, and a predispositon / tacit acceptance of paper securities schemes / scams / frauds which are integral to america’s ongoing, albeit obfuscated, debacle / crisis which given the unfunded debt load pegged at $211 Trillion among other estimates, is insurmountable and will end quite badly.  Poll: Sharp dissatisfaction with D.C. The public doubts the government can fix the nation’s economic problems, Post poll shows. An unlikely landlord: Uncle Sam  (WP) [ No surprise there (the doubts)!  Uncle Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited states   Italy unveils plan to calm fears of escalating crisis  (WP) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1   Watch for fake gov’t data / reports owing to political desperation! Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’.   Wall Street closes worst week since '08 with wild day NEW YORK (Reuters) S&P on U.S. downgrade: Debt pact 'falls short' - Reuters  S&P downgrades US credit rating from AAA   S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating  Wall St. Cheat Sheet    What Recovery? Forbes   ‘…we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with. And while we’re at it, we can’t ignore increasing sovereign debt problems in Europe…’  Top 3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet  1) Japan and Europe 2) Unemployment.3) Capital goods - billions of dollars in lost revenue. Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher.

 

 

Will: Is Britain a lost ally?   (Washington Post) [ How ‘bout just lost! And, while on the subject of lost, pervasively corrupt, defacto bankrupt america should tell the so-called (self-interested to america’s detriment) ‘ally’ israel to get lost!  

David Starkey On UK Riots: ‘Whites Have Become Black’ You Tube | “A particular sort of violent destructive, nihilistic gangster culture has become the fashion.” [ Britain burns the colour of  'A Clockwork Orange' Financial Times [ Truly a great film by any cinematic standard by Stanley Kubrick based on the book of the same name by Anthony Burgess, ‘A Clockwork Orange takes place in a futuristic city governed by a repressive, totalitarian super-State. In this society, ordinary citizens have fallen into a passive stupor of complacency, blind to the insidious growth of a rampant, violent youth culture. The protagonist of the story is Alex, a fifteen-year-old boy who narrates in a teenage slang called nadsat, which incorporates elements of Russian and Cockney English. Alex leads a small gang of teenage criminals—Dim, Pete, and Georgie—through the streets, robbing and beating men and raping women. Alex and his friends spend the rest of their time at the Korova Milkbar, an establishment that serves milk laced with drugs, and a bar called the Duke of New York… http://www.sparknotes.com/lit/clockworkorange/summary.html   http://en.wikipedia.org/wiki/A_Clockwork_Orange_%28film%29   A Clockwork Orange is a 1971 British darkly satirical science fiction film adaptation of Anthony Burgess's 1962 novel of the same name. This cinematic adaptation was produced, directed, and written by Stanley Kubrick. It features disturbing, violent images, to facilitate social commentary about psychiatry, youth gangs, and other contemporary social, political, and economic subjects in a dystopian, future Britain.Alex (Malcolm McDowell), the main character is a charismatic, psychopathic delinquent whose pleasures are classical music (especially Beethoven), rape, and so-called 'ultra-violence'. He leads a small gang of thugs (Pete, Georgie, and Dim), whom he calls his droogs (from the Russian друг, "friend", "buddy"). The film tells the horrific crime spree of his gang, his capture, and attempted rehabilitation via a controversial psychological conditioning technique. Alex narrates most of the film in Nadsat, a fractured, contemporary adolescent slang comprising Slavic (especially Russian), English, and Cockney rhyming slang.A Clockwork Orange features a soundtrack comprising mostly classical music selections and Moog synthesizer compositions by Walter Carlos. The now-iconic poster of A Clockwork Orange, and its images, were created by designer Bill Gold. The film also holds the Guinness World Record for being the first film in media history to use the Dolby Sound system ‘ ]

 

Meyer: Why aren’t Americans rioting?   (Washington Post) [ It really is quite surprising inasmuch as they’re getting quite a royal screwin’ from the so-called ‘powers that be’. There might be a tinge of masochism coupled with a feeling of punishment-deserved remorse in light of the overridingly inherent criminal nature of americans generally, propelling them to wrongful acts for which they should be sorry, based upon my own experience and direct observation. That said, I’d also say ‘give them time’, the worst is yet to come. Moreover, we’re already seeing it, and not just in britain, greece, italy, etc., but here in the pervasively corrupt, defacto bankrupt disunited states of america; viz., detroit, chicago, philadelphia, etc., with predictions consistent with the reality of much worse to come. Europe’s crisis and the psychology of fear   (Washington Post) [ Given the reality and magnitude of Europe’s problems going forward, dwarfed only by the magnitude of those of pervasively corrupt, defacto bankrupt america, it brings to mind the words of the former Intel CEO (co-founder) Andy Grove ‘ Only the paranoid survive’ (of course, having survived the Nazis and escaped Communist-controlled Hungary in Europe, as a jew, one has to assume his perspective / outlook was somewhat ‘skewed’ thereby). Yet, let’s not kid ourselves to the point where virtual survival is threatened and at stake as is so for the EU. America isn’t alone in the downgrade spiral  (WP) Indeed, the EU has followed the contra-indicated perma war, evermore worthless Weimar currency, and a predispositon / tacit acceptance of paper securities schemes / scams / frauds which are integral to america’s ongoing, albeit obfuscated, debacle / crisis which given the unfunded debt load pegged at $211 Trillion among other estimates, is insurmountable and will end quite badly.  Poll: Sharp dissatisfaction with D.C. The public doubts the government can fix the nation’s economic problems, Post poll shows. An unlikely landlord: Uncle Sam  (WP) [ No surprise there (the doubts)!  Uncle Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited states   Italy unveils plan to calm fears of escalating crisis  (WP) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1   Watch for fake gov’t data / reports owing to political desperation!

 

 

Will: Kennedy’s Berlin blunder  (Washington Post) [ Oh come on Mr. Will! I’d say Kennedy’s  blunder was, as Caesar and the ides of March, not heeding warnings concerning that Dallas ride. A bit of a reach though factually accurate are the implications, consequences of those highlights which in terms of results were foreseen years before by ‘Warrior-General Patton’. Indeed, for the rising military industrial complex, one way or another, conflict whether hot or cold, requiring substantial defense spending was fait accomplis. I’m disappointed to hear of Kennedy’s unfounded criticism of the last great leader / president, the substantially underrated but great President General Eisenhower which I would attribute to Kennedy’s own insecurity regarding such matters and possibly in psychiatric terms, a form of displacement. Krauthammer: Our political system is working well  (Washington Post) [ Wow! There was a time back in the late sixties, early seventies when there were these long-haired people chastised by the so-called ‘establishment’ that would have just loved to be doin’ whatever it is that Mr. Krauthammer’s been doing to arrive at such a conclusion, so glaringly devoid of any reality whatsoever. Psychedelics, hallucinogens, magic mushrooms; what could it be that has brought Mr. Krauthammer into this fantasy world where even ‘Alice’ of Wonderland fame might feel comfortable in this netherland (sic) / netherworld created from the depths of Mr. Krauthammer’s imagination. I’m truly at a loss for words. After all, the warning by the underrated but great President General Eisenhower of the impending inherent danger of the military industrial complex came to fruition with the assassination of JFK and the reality of a coup d’etat thereby. All presidents, along with the two remaining branches of the pervasively corrupt, defacto bankrupt american government since have been at best stooges for such as the military industrial complex, the banksters / frauds on wall street, etc., to the substantial detriment of the vast majority in this country and throughout the world (ie., perma wars, huge securities frauds still extant / now marked to anything as per congressional FASB rule change, and unprosecuted. Beyond the immediate reach, or at least ‘penetration’ of american propaganda, an intelligent and astute individual, Legendary Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different bananas perhaps? { Of course this is absolutely true! And not just from the meaningfully lawless perspective – I had made such a statement on the record in a LA Superior Court Appellate Dept. proceeding in which said court literally ignored the law (the same is true of the costly, plushly accoutered lifetime appointee federal courts) which courts should indeed be abolished in these difficult economic / budgetary times. Additionally, from pervasive corruption, to debased over-printed currency, to gunboat diplomacy, to total incompetence, etc., america is indeed a banana republic at most. }    I didn’t see the debates {what does it matter what they say – the egregious ‘wobama the b’ (for b***s***) fatigue factor / experience} nor have I read Mr. Robinson’s article, ‘GOP Debate Land’ but I’m sure I’d agree with his conclusion,  ‘I didn’t recognize the America the GOP candidates described;’ but unfortunately, I do recognize the pervasively corrupt, defacto bankrupt america of ‘wobama the b’ (for b***s***), failed president like his predecessor, moron war criminal dumbya bush, that he is. The powerless president  Obama remains indecisive, and ignored, as larger forces bring down the country.  Robinson: S&P downgrades the GOP   (WP) [ Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown according to wobama aficionados / intractable wobama apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal character flaws (among many unmentioned) to exculpate the failed president wobama. Wobama’s failed miserably and yet had the easiest act in the world to follow in the persona of fellow failed president war criminal dumbya bush whose failed policies up to the real start of the election cycle he’s largely followed. After all, Mr. Robinson, how different really are the parties these days when profligate spending on illegal, unnecessary wars was continued when democrats controlled congress, and then even the executive office when continuing failed president and war criminal dumbya bush’s nation bankrupting, nation destroying war policies, protection for unprecedentedly huge wall street frauds, bush tax cut extensions for the wealthy, and then some (spending on top of it).
Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.
Poll: Sharp dissatisfaction with D.C. The public doubts the government can fix the nation’s economic problems, Post poll shows. An unlikely landlord: Uncle Sam  (Washington Post) [ No surprise there (the doubts)!  Uncle as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited states   Italy unveils plan to calm fears of escalating crisis  (Washington Post) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1   Watch for fake gov’t data / reports owing to political desperation! Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’.   Wall Street closes worst week since '08 with wild day NEW YORK (Reuters) S&P on U.S. downgrade: Debt pact 'falls short' - Reuters  S&P downgrades US credit rating from AAA   S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating  Wall St. Cheat Sheet    What Recovery? Forbes   ‘…we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with. And while we’re at it, we can’t ignore increasing sovereign debt problems in Europe…’  Top 3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet  1) Japan and Europe 2) Unemployment.3) Capital goods - billions of dollars in lost revenue. Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher.
Is Obama’s fate written in numbers? Recent economic data amounts to a formidable headwind for any incumbent president hoping for a second term. And Democrats worry time is running out. (Washington Post) [ Let’s just say the fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif  . ‘Don’t cry for him new argentina, the truth is he really screwed you’ … well you know that familiar theme and can ad lib, insert your own words! 
It’s still Obama’s party Why he won’t face a primary challenge: Republicans and racial politics. (Washington Post) [  It’s true … so right you are! Al Gore’s even pitchin’ in by donating the talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song in wobama’s honor (kidding) which goes something like this , ‘It’s his party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would cry too, if obama happened  to you …  Well, there you go … if the song says it it must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...
ignore cases that involve black defendants and white victims' – Time to get whitey, at last, at last, etc., say holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger, the mobster, either!’

 

 

MI6 produced bogus Iraq war evidence under pressure from Downing Street Daily Mail | Iraq had long been a backwater for MI6.


 

NATO Massacres of Civilians Aimed at “Cleansing” the Libyan People’s Resistance Mahdi Darius Nazemroaya | Photographic evidence of NATO war crimes.


 

NATO urged to investigate civilian deaths during Libya air strikes Amnesty International | Amnesty International wrote to the NATO Secretary General asking for clarification on incidents in which unarmed civilians were reportedly killed.

 

 

U.S. and NATO Arming Syrian Opposition, Plan Military Strike Kurt Nimmo | Now the Iranians are reporting that NATO is sending large arms caches to Syrians resisting the al-Assad regime.

 

 

Democrats want a bolder Obama The president’s allies are getting nervous about what they see as the lack of a coherent strategy. (Washington Post) [ Well, tell it to the teleprompter. Without a head per se, at least no one could say as with ‘wobama the b’ (for b***s***) that the teleprompter was in over its head. Bolder b***s*** is still b***s***! ]

 

Gallup: Disapproval of Obama Ties All-Time High CNS News | American’s approval of President tied its all-time low of 42 percent.

 

Bristol Palin Interview Accidentally Reveals Mother's 15 Abortions  www.theonion.comWASILLA, AK—Sarah Palin's political team was forced to do emergency damage control Monday after the former Alaska governor's daughter Bristol accidentally divulged on live television that her mother has undergone at least 15 abortions over the past 30 years. "She's always telling me how special I am, especially considering the five or six babies she aborted before I was born," Palin, 20, said during a CNN interview in which she was asked if she thought her mother would make a good president. "Then of course there were the twins she aborted shortly after having me, another four abortions after Willow somehow survived hers—but anyway, she's a wonderful mom. She just gets pregnant a lot and doesn't always want to have the baby." Palin also commended her mother's strength in carrying three babies with Down syndrome to term, and then even choosing not to give Trig up for adoption like the others.

 

Taliban who downed U.S. copter killed U.S. officials say Taliban fighters who shot down a helicopter with 30 U.S. troops were killed in airstrikes (Washington Post) [ Oh come on! The Taliban don’t even know who among them downed the u.s. killer copter! Great propaganda, ‘u.s. gi’s always get their man’. Doesn’t anyone get tired of their endless b***s*** in their end run to the end? After all, the nation is defacto bankrupt in large part as a direct consequence of these ‘military-industrio-inferiority-complex’ follies / welfare warfare programs. Then there’s the cocomitant typical skullduggery which includes inter alia: 

Same ritual, a changed president This time, President Obama traveled to Dover Air Force Base to greet the remains of Americans he had ordered to Afghanistan himself. Some victims of crash are identified  (Washington Post) [ Changed? I think we could all agree that despite campaign promises to the contrary, nothing’s changed; except, pervasively corrupt defacto bankrupt america is more hopelessly bankrupt and the dismal economic picture has become more dour. 

“Bin Laden” Heroes Probably Murderered to Keep Them Quiet  ... Gordon Duff Veterans Today

FLASHBACK: Eyewitness to OBL Raid Saw Helicopter Explode (TRANSCRIPT) [ As indicated on this albertpeia.com website, I didn’t buy the administration’s desperate and politically opportunist Osama event and still don’t buy it; and further, I believe this! ]Veterans Today | TRANSCRIPT of critical interview with Pakistani eyewitness to Bin Laden raid. Is this the key to SEAL Team 6′s demise?

“Bin Laden” Heroes Probably Murderered to Keep Them Quiet  Gordon Duff  Veterans Today August 7, 2011 | Some Possibly Killed in Abbottabad Helicopter Crash Months Before. [ As indicated on this albertpeia.com website, I didn’t buy the administration’s desperate and politically opportunist Osama event and still don’t buy it; and further, I believe this! ] Today 31 NATO troops, 20 of them Navy Seals from the Osama bin Laden operation died in what is reported as a helicopter crash in Afghanistan.

‘The chance of this story being true is almost nil. The chances of this being a staged coverup is over 80%. We believe these people were murdered to silence them. This is why.

We have solid information on two areas:

1. Osama bin Laden died in 2001 as an active CIA employee and his body was recovered in Afghanistan and taken to “the sand box.” We were told it was frozen. We have so much verification from this, CIA, ISI, US military and top officials. I have a direct confirmation from Bin Laden’s CIA handler who I grilled mercilessly on this.

2. The Abbottabad operation involved numerous American deaths, witnessed, bodies all over, a helicopter crash. (suppressed translated TV interview below) These bodies were recovered by land vehicle from Islamabad and there was NO “successful” bin Laden operation of any kind. There was and has been a CIA safe house in Abbotabad where terror suspects were stored for years.

This gave the US several areas of severe vulnerability. Generally, Navy Seals are the best people in the world at keeping their mouths shut, these are real team players, as the term “Seal Team” belies.

We at VT were informed that the bin Laden operation was staged at this time, a theatrical farce, to cover the exit of Secretary Gates, the move by former CIA Director Leon Panetta into the DOD as Secretary of Defense and to stem any heroic claims by new CIA Director Petraeus of killing the long dead Osama bin Laden, the long frozen CIA operative.

Petraeus is a possible presidential contender and had to be denied this “gift from heaven,” a fast track to the oval office for sure.

Again, I remind you, I went over specific meetings on bin Laden with his handlers, getting every last detail. I have watched what has gone on, the continuing need to vilify a long dead top CIA operative to provide residual cover for the Bush administration…

The reason? Bush and his cronies are all facing charges of war crimes, not just in minor jurisdictions but heading for the ICC, putting them on the dock with Gaddafi ( a far less harmful character).

As for the timing of this incident? This we will work on. What we can easily surmise is that some of the dead have been dead since their bodies were taken away from the helicopter crash site in Abbotabad.

Who would order such a thing? We are going to have to wait but we are going to find out. However, we expected this, the timing is exactly as predicted. Read full article

 

World at War Alex Jones' Infowars: There's a war on for your mind! Veterans Today | TRANSCRIPT of critical interview with Pakistani eyewitness to Bin Laden raid. Is this the key to SEAL Team 6′s demise? ...

 

Deaths of SEAL Team 6 Exposed Aaron Dykes & Alex Jones | We predicted shortly after the raid on bin Laden’s compound that SEALs would soon be reported dead in a helicopter crash or staged incident following multiple reports from military sources.

 

SEAL Unit Supposedly Responsible for Osama Hit Killed in Copter Crash Kurt Nimmo | Is it possible the Pentagon took out the helicopter to send a message to the SEALs, just in case some of them decide (like Pat Tillman did) to tell the truth?

 

Questions raised by the SEAL Team 6 deaths in Afghanistan Madison Ruppert | It took minutes before the Internet was ablaze with chatter about the deaths of these American commandos.

 

Tea Party hypocrisy Fueled by populist anger, but hijacked by plutocrats. (Washington Post) [ Ah, sweet Mr. Milbank. His love for wobama knows no bounds. Yet, given the choice between hypocrisy and inveterate lying, assuming arguendo, Mr. Milbank’s premise to be true (doubtful and I think most would say no), most would take hypocrisy any day. By now, most have realized that at best wobama’s a b***s*** artist, and at worst, an incorrigible liar; certainly as measured by his campaign promises that got him elected, belied by his actions. If Mr. Milbank had only said the nation’s been hijacked by plutocrats to whom wobama’s paid homage, I’d certainly agree in part. After all, there has been and continues a huge wealth transfer at the expense and to the detriment of the middle class, to the substantial benefit of the ‘plutocrats’ who in america are of that small percentile criminal class for whom everyone else must (and must be) sacrifice(d), ie., the wall street frauds, military industrial complex, government contractors, etc.. And, yet another casualty … if wobama’s peace-prize is not revoked, then that ignoble nobel thing should be disbanded for lack of credibility and moral compass.  Deal fails to soothe foreign critics  (Washington Post) { Let’s not kid outselves! I consider Russia a rational, great nation (their painful, yet peaceful transition from their mistake is a testament to their greatness as a people / nation and Gorbachev particularly – China’s recent success is as far from communism as can be imagined) and have high regard for Putin though lamenting his youthful, albeit inherited indiscretion (kind of like that Tiger hunt which he’s now wisely disavowed) in dabbling in the failed system of communism (the great lie where everybody’s equal except some are more equal than others, ie., party members, bureaucrats, etc., kind of like america today with the addition of the plutocratic wealthy thieves, criminals, frauds, etc.). That said, most of these so-called ‘foreign critics’ fall predominantly into either of two categories; viz., ‘pots calling the kettle black’, or ‘enablers’.    Putin Calls U.S. a “Parasite,” Demands New Reserve Currency Activist Post   The powerless president  Obama remains indecisive, and ignored, as larger forces bring down the country.  Robinson: S&P downgrades the GOP   (Washington Post) [ Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown according to wobama aficionados / intractable wobama apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal character flaws (among many unmentioned) to exculpate the failed president wobama. Wobama’s failed miserably and yet had the easiest act in the world to follow in the persona of fellow failed president war criminal dumbya bush whose failed policies up to the real start of the election cycle he’s largely followed. After all, Mr. Robinson, how different really are the parties these days when profligate spending on illegal, unnecessary wars was continued when democrats controlled congress, and then even the executive office when continuing failed president and war criminal dumbya bush’s nation bankrupting, nation destroying war policies, protection for unprecedentedly huge wall street frauds, bush tax cut extensions for the wealthy, and then some (spending on top of it). Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

 

 

 

White House turns attention to blacks Focus comes amid a growing concern that economic conditions might hamper black voter turnout. (Washington Post) [ As if we couldn’t see that coming. Yet, the ‘make-work, make-shift’ jobs already extant in the federal, state, local ‘public service’ sectors along with the otherwise unemployable at, ie., the u.s. postal service, etc., are uneconomic and overly costly (Drudgereport: Obama Economists Admit: 'Stimulus' Cost $278,000 per Job... ) at best and downright wasteful at worst, the latter being the most prevalent scenario. Moreover, despite the rhetoric, blacks will always ‘back the black’. No criteria. No analysis. ‘Back the black’ their despoiling cry. I think wobama and holder are probably more concerned with making sure the ‘black panthers’ are in full force at the polls to intimidate white voters, which racism they’ve given ‘carte blanche’, protection from prosecution … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '. With wobama et als, the jive-talking b***s*** never ends! N.Y. bumped from foreclosure panel Iowa’s attorney general says N.Y. official “actively worked to undermine” group’s efforts in foreclosure negotiation with banks. (Washington Post) [ Yeah! No surprise here! Yet new jersey’s ‘representative’ would have been equally disingenuous in corruptly carry out his / her duties, so ‘doody-full’ are they, from there!  Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ [ Oh but it does make sense Sen. Grassley:   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ] Details of Obama’s jobs plan emerge (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84%

Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ]New low of 26% approve of Obama on economy...
Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

 

Even that italian, belafonte, isn’t buying ‘wobama brand(ed)’:

 

Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...  
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

 

 

 

 

What’s Apple without Steve Jobs?  Jobs has the knack of knowing what people want before they do. Can Apple stay ahead of the curve? (Washington Post) [ Without disparaging the company nor the remaining employees, what can be said of Apple with certainty in response the foregoing question is: ‘LESS’. That said, there couldn’t have been a more propitious time for the great (without even a tinge of sarcasm – among the relatively few great CEO’s in corporate history) Steve Jobs to leave. Steve Jobs resigns from Apple, Cook becomes CEO - SAN FRANCISCO (Reuters) - Silicon Valley legend Steve Jobs on Wednesday resigned as chief executive of Apple Inc in a stunning move that ended his 14-year reign at the technology giant he co-founded i... [ Far more than just a ‘Silicon Valley legend’, Steve Jobs literally saved Apple from extinction … I’m truly glad he saved Apple, my first computer (1986 - apple IIc for word processing / data based records / forms / templates / data which I interfaced with an electric typewriter for letter quality) and for that all should be thankful. Apple is the Nasdaq (40% weighting) and quite more, that now was! That’s past tense. Steve Jobs goes out a big winner as indeed he should! Yet, make no mistake, as one might expect, his timing was impeccable inasmuch as without his uniquely inspired innovation, competition moving in, and particularly the coming debacle / crisis the worst of which lies ahead, things are not looking up, in and for pervasively corrupt / defacto bankrupt america particularly, euphemistically speaking. ]  End Of Cycle Smelling Like Dow 3K, Gold 3K  Forbes /  Bill Bonner  … ‘Our view [ the correct view ] is that the bear market began in January 2000. The feds fought it off with two huge extravaganzas of spending — the first beginning in 2001 the other after 2008. Stimulus does wonders for stock prices but it no longer works for the economy that sustains them. For every dollar that the Fed has put to work to fight the crisis since 2008, for example, it has produced only 80 cents worth of GDP. It didn’t work……that the recession of ’08-’09 in the US never actually ended……and that stocks will go down over the next 5-10 years until they finally hit a real bottom…’ 

 

 

 

 

Robinson: King’s dream remains unrealized  (Washington Post) [ Yeah! That ‘content of their character’ thing’s a b***ch to live up to … just don’t measure up! What’s a white person to do, especially when black atty. General Holder with fellow black Obama’s tacit approval is racist himself (themselves)  UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims '. Drudgereport: 'Mob' beatings at WI state fair...
'Hundreds of young black people beating white people'... [ Typical…  ]
Fairgoers 'pulled out of cars'...
'They were just going after white people'...
Heightened security...

[ .. (the following incident is my personal experience: black perps, white victims)‘.. while walking through Military Park (a sliver of a “park” - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DA’s position with both felonies ( he went to prison – pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of ‘bystander effect’ / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp (a police officer here in California was the object of intense criticism for having used a flashlight to subdue a criminal after a long chase so I included that here) . The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal went to jail (where they belong). The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so. I was also mugged by 4 blacks and 2 hispanics in an incident here in Los Angeles, CA. But, to be fair and balanced, the RICO litigation involves those uncivilized who consider themselves ‘whites’ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  (predominantly but not exclusively jews / romans-italians / mobsters / government slugs). ]

 

 

Banks are dimming Europe’s outlook Still restructuring after the 2008 crisis, euro-zone banks face new concern about their stability. (Washington Post) [ And not just europe’s outlook … How stable is the banking industry?. (Washington Post) [ Not too! … as if anyone should need remindin’!  After all, a depression is that ‘lowering tide that grounds all boats’ (the converse of that word picture I like to use in analysis of securities wherein focus on the macro environment, the economy, the largest aggregate enhances your probabilities of success on the theory / cliché ‘a rising tide lifts all boats’. Clearly, simplistic wisdom that is true.) The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!  Train Reading: The Stock Market Is Insane The Wall Street Journal ,   Welcome To The New Bear Market For Stocks  Forbes / Suttmeier ,  Dow/Gold Ratio Lowest Since 1987 Crash   Forbes /  Adrian Ash  ,   Ignore Buffett's Advice, Don't Buy Stocks Forbes /  Dohmen , The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  Tech Leading Market Lower The Wall Street Journal  ,  Banks closed in Fla, Ga, Ill; 2011 total is 68   ,   No Recession Coming ... It's Already Here  Previous:8-18-11 Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says    Crimes Wrecked The Markets    ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data

 

 

 

Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go … the retaliation … the long awaited payback (quid pro quo witheld) for long overdue downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities. 3 Top Crooks Still Roaming Free After the Economic Crash Wall St. Cheat Sheet The global economy and stock markets took a nose dive in 2008. But that hasn’t stopped some of the biggest masterminds from escaping a day of luxury…’ The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  SEC accused of destroying files Former agency official says SEC violated federal law by destroying records of enforcement cases in which it decided not to file charges. (Washington Post) [ Duh, ya think? The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!     SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission may have destroyed documents and compromised enforcement case ...   Grassley: Agency may have got rid of Goldman, Madoff documents   Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) — The Securities and Exchange Commission may have destroyed documents and compromised enforcement cases involving activity at large banks and hedge funds during the height of the financial crisis in 2008, according to allegations made by a lawmaker on Wednesday. “From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” said Sen. Chuck Grassley, Republican of Iowa, in a letter to the agency’s chairman, Mary Schapiro. Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.” Agency staff “destroyed over 9,000 files” related to preliminary agency investigations, according to a letter sent in July to Grassley, the top Republican on the Senate Judiciary Committee, and obtained by MarketWatch. The allegations were made by SEC enforcement attorney, Darcy Flynn, in a letter to Grassley. Flynn is a current employee, and according to the letter, received a bonus for his past year’s work. Flynn alleges the SEC destroyed files related to matters being examined in important cases such as Bernard Madoff and a $50 billion Ponzi scheme he operated as well as an investigation involving Goldman Sachs Group Inc. GS +0.33%   trading in American International Group credit-default swaps in 2009. Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. WFC +1.34% , Bank of America Corp. BAC +0.81% , Citigroup C +0.13%  , Credit Suisse CS +0.38%  , Deutsche Bank DB +0.79%  Morgan Stanley MS -0.06%  and the now-bankrupt Lehman Brothers. The letter goes into particular detail about Deutsche Bank, the former employer of current SEC enforcement chief Robert Khuzami as well as former enforcement chiefs Gary Lynch and Richard Walker…’ Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ [ Oh but it does make sense Sen. Grassley:   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ]

 

 

Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go … the retaliation … the long awaited payback (quid pro quo witheld) for long overdue downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities.  The "Crimes" That Wrecked The Markets  Forbes / Lenzner  3 Top Crooks Still Roaming Free After the Economic Crash Wall St. Cheat Sheet The global economy and stock markets took a nose dive in 2008. But that hasn’t stopped some of the biggest masterminds from escaping a day of luxury… The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!  Train Reading: The Stock Market Is Insane The Wall Street Journal ,   Welcome To The New Bear Market For Stocks  Forbes / Suttmeier ,  Dow/Gold Ratio Lowest Since 1987 Crash   Forbes /  Adrian Ash  ,   Ignore Buffett's Advice, Don't Buy Stocks Forbes /  Dohmen , The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  Tech Leading Market Lower The Wall Street Journal  ,  Banks closed in Fla, Ga, Ill; 2011 total is 68   ,   No Recession Coming ... It's Already Here  Previous:8-18-11 Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says    Crimes Wrecked The Markets    ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data at Forbes  ,  HP, Dell hammered as tech-spending outlook darkens   JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade   Dell braces investors for a bumpy road Dell makes a case on why it can better weather an upcoming storm  ,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    Famed economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com)   Five Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Newsmax.com)  US Recession Is Guaranteed: Expert CNBC.com 

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!

 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     http://albertpeia/crossexamofcoanbypeia.pdf    ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 


http://www.albertpeia.com 

 

 

 

Sincerely and Regards,

 

Al Peia

 

 

 

 

 

U.S. stocks end volatile week in the red (Washington Post) [The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!  Train Reading: The Stock Market Is Insane The Wall Street Journal ,   Welcome To The New Bear Market For Stocks  Forbes / Suttmeier ,  Dow/Gold Ratio Lowest Since 1987 Crash   Forbes /  Adrian Ash  ,   Ignore Buffett's Advice, Don't Buy Stocks Forbes /  Dohmen , The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  Tech Leading Market Lower The Wall Street Journal  ,  Banks closed in Fla, Ga, Ill; 2011 total is 68   ,   No Recession Coming ... It's Already Here  Previous:8-18-11 Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says    Crimes Wrecked The Markets    ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data at Forbes  ,  HP, Dell hammered as tech-spending outlook darkens   JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade   Dell braces investors for a bumpy road Dell makes a case on why it can better weather an upcoming storm  ,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    Famed economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com)   Five Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Newsmax.com)  US Recession Is Guaranteed: Expert CNBC. Harry Dent, Jr. Economy will be in a Depression by 2011
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012).
   Dow 1000? Robert Prechter Thinks So      Prechter Reiterrates Call For Dow 1,000, Even As Surging Gold And Plunging Dollar Leave Much Credibility To Be Desired        Bulls Go to Extremes: Don't Buy the "Breakout", Sell It, Prechter Says     Russell: This Is One Of The Largest Tops In Stock Market History  My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’     Forecasts from Dent, Napier, and then Prechter: Depression is Imminent The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777 which was the starting point of its mania back in August 1982, and quite likely drop below 400 at one or more times during the bear market.  [ 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse ‘…  #8 The U.S. national debt continues to get worse by the day.  Just check out what economics professor Laurence J. Kotlikoff recently told NPR….
“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap” ..’   Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’.]   

 

 

 

 

Moody’s managers pressured analysts, former executive says Credit-rating agency has been criticized for giving high grades to dubious investments. Now one of its own is leading the criticism.   SEC purged documents without authorization    Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice Department is investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis. (Washington Post) [ There you go … the retaliation … the long awaited payback (quid pro quo witheld) for long overdue downgrade. They should be investigating themselves, the SEC ( SEC destroyed documents, senator says ), among numerous other fraudulent, illegal schemes, activities. 3 Top Crooks Still Roaming Free After the Economic Crash Wall St. Cheat Sheet The global economy and stock markets took a nose dive in 2008. But that hasn’t stopped some of the biggest masterminds from escaping a day of luxury…’ The "Crimes" That Wrecked The Markets  Forbes / Lenzner  ,  SEC accused of destroying files Former agency official says SEC violated federal law by destroying records of enforcement cases in which it decided not to file charges. (Washington Post) [ Duh, ya think? The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!     SEC destroyed documents, senator says 17 Aug 2011 ‘The Securities and Exchange Commission may have destroyed documents and compromised enforcement case ...   Grassley: Agency may have got rid of Goldman, Madoff documents   Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) — The Securities and Exchange Commission may have destroyed documents and compromised enforcement cases involving activity at large banks and hedge funds during the height of the financial crisis in 2008, according to allegations made by a lawmaker on Wednesday.    Sen. Chuck Grassley  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence…’ [ Oh but it does make sense Sen. Grassley:   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  ]

 



Experts: Recovery might take a while If this crisis follow the pattern of similar ones, it may be one of the most difficult in U.S. history. (Washington Post) [ Duh! Ya think! Dow/Gold Ratio Lowest Since 1987 Crash   Forbes   Adrian AshToday’s gold buyers might still get to look early birds as this depression wears on… GROWTH or defense…stocks or gold? Intra-day noise aside in summer 2011, Mr.Market’s choice looks plain.

The Dow/Gold Ratio – a measure of the U.S. stock market’s valuation in ounces of gold – has sunk as equities have plunged but gold prices have jumped so far this summer.

Dropping through 6.0 ahead of Friday’s New York opening, the Dow/Gold Ratio hasn’t been this low since early 1989, back when world equity markets were recovering from the Great Crash of Black Monday 1987.

http://goldnews.bullionvault.com/files/DowGoldviii11.png

That slump itself had taken the Dow/Gold Ratio all the way down to 3.6, with gold prices rising to nearly $500 per ounce as the Wall Street index sank to 1776 points. Growth, of course, was only taking a pause in late 1987 – a quick breather before the real race to perfection of the late 1990s. Today, in contrast, the Dow/Gold Ratio could still go a lot further down. Or so says history.

Trading a little over its century-long average of 10.0 today, the ratio bottomed during the 1930s Great Depression at just below 2.0 ounces of gold for one Dow unit. At the nadir of the next global depression – the inflationary depression of the early 1980s – the Dow/Gold Ratio sank even lower, down to 1.0.

Whatever flavor of depression we’ve got at the start of this decade – and it is a depression, as Western jobs data continue to show and as the Dow/Gold yardstick will confirm if it goes much lower (keep an eye on the underperformance of gold mining equities, too) – a growing flow of private savings is choosing defense in gold bullion rather than choosing business-risk in listed stocks.

That choice might sound self-fulfilling if you work in psychiatry or government, a kind of “clinical disorder” open to curing with medication, zero interest rates or perhaps a third round of quantitative easing – most likely aimed at risk assets, we guess, rather than the “risk free” Treasury bonds targeted by QE1 and QE2 – and which institutional investors are all-too keen to hold anyway.

So far, however, investors choosing to buy gold only account for a tiny portion of the money fleeing equities.

From here to a true depression low in Dow/Gold (if such a level is reached), today’s gold buyers will need to find many more friends. They’d also look early-birds compared with the rush out of stocks – and into gold – needed to reach that 2.0 or 1.0 mark.’



 

BlogPost : Jon Stewart attacks Fox 'class warfare' ...Warren Buffett (Nati Harnik/AP) After Warren Buffett’s New York Times Op-ed called for a tax on the.. (Washington Post) [Ignore Buffett's Advice, Don't Buy Stocks at Forbes Bert Dohmen [ Yeah … this is really good advice. As a shill for fraudulent wall street, they may have given him some ‘stellar performances and cash to boot’; but, the homespun bumpkin senile buffet’s analytical abilities, if ever really extant, have certainly passed the point of no return. You may recall how the clintons, with a mere $1,000 or so, were revealed as ‘commodities trading wizards’ (turned into in excess of $100,000 or so), but as written up in the Wall Street Journal ‘someone was giving them money’. In fairness, that they were singled out (was) is a bit arbitrary inasmuch as that’s going on all the time on wall street, and now with greater precision owing to greater computer programming capabilities, to everyone else’s detriment. Remember, in a manner of speaking, there are two sides to every trade, viz., winner and loser (in relative terms).] ‘The markets plunged going into August 8. On that day, the DJI closed with a loss of 629 points. My indicators signaled that a brief bounce would commence the next day. According to the charts, the first target for the S&P 500 was 1205. The target was hit exactly a few days later. That was followed by a renewed plunge.

I have been looking for a serious crisis to start in September. It appears that we have seen the prelude for that. The big smart money has been preparing for the past five months.You can see the “distribution pattern” on the charts since mid-February. The rush to the exits is now accelerating and the smart money has been selling short in large amounts.

The extreme bullish sentiment that prevailed until the latest plunge was first replaced by complacency, then by concern. However, the “fear” stage is still missing, except at hedge funds that were forced to sell because of margin calls. In fact, during the severe plunge in the first week of August, investment investors became even more bullish according to Investorsintelligence.com. That is not good for the markets.

The market negatives are increasing in numbers. The IPO window is now shut. There are signs that credit is once again vanishing. Loans are being called in, some companies appear to have difficulties rolling over their Commercial Paper, junk bonds yields are soaring, European banks may stop lending to each other, and the European crisis is spreading out across the globe. It’s my view that this will cause another credit crisis, just as in 2008.

What’s worse is that contrary to 2008, the big players learned to read the signs from their 2008 mistakes. They are now wide awake, although in the media, their minions still repeat the same bullish fairy tale. This means that this crisis could develop much faster than the last one. (Read my book, Financial Apocalypse, which is the 2008 roadmap, one which can be used very well for what is now happening.)

The words “possible recession” suddenly is being mentioned a lot in the media, although economists still strongly deny that possibility. Our rule is that the stronger their denials, the more certain and the deeper the recession will be. In fact, I declared in our May 9 issue of the Wellington Letter that the recession had started.

Morgan Stanley lowered its global GDP growth forecasts for 2012 from 4.5% to 3.8%. My forecast is for 1%-2% or less. It would be negative growth except for the fudged inflation numbers.

The European politicians are not any smarter than those in the U.S. Merkel and Sarkozy had a meeting in Paris and did nothing. That day I called the outcome “Disastrous” for the markets. It took the markets a day to digest the consequences and then the selling avalanche started. Many of the markets in Europe, led by the banks stocks, went into virtual free falls, losing from 4%-7% in one day. Such losses indicate an approaching crisis.

Now we see some of the well-known Wall Street figures appearing in the media, telling investors all the reasons why stocks are a good buy. One appeared with a long list of bullish factors. Well, that list didn’t prevent the global stock market from losing an incredible $6 trillion over the past several weeks. He did the same cheerleading on national TV in 2007 before investors lost 50% of their wealth.

Warren Buffett is also once again the cheerleader saying he is buying stocks. He did that in 2007-2008 as well, and then the meltdown started later in 2008.

I would not fall for this self-serving advice. Words cannot rescind a recession that we already have, it cannot stop the insolvency of entire countries in Europe, it can’t change the fact that major profit downgrades will appear soon, and it can’t stop the China crisis that is now starting.

Gold is soaring, but the mining stocks look terribly weak. There is great danger now with the gold stocks getting hit hard by less developed countries, including South Africa, to nationalize gold mines. This is too lucrative for them to resist.

I would get out of all money market funds unless they are “U.S. government only.”  The MMFs have big exposure to European banks. We believe that lending between banks in Europe may seize, which means that the whole structure will start shaking. You will start hearing the word “contagion.”

In my opinion, the danger period is approaching. What we have seen until now is just a “preview.” The main feature is likely to be worse.

Bert Dohmen is editor of Bert Dohmen’s Wellington Letter and author of Prelude To Meltdown (2007) and Financial Apocalypse (2011).’




Banks still struggling, despite bailout (Washington Post) [ Yeah … that’s the way it is for banks in the midst of recession / depression / economic decline! The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! What changed from yesterday which warranted a more than 600 point plunge with paper stocks still over-valued and a 545 bounce off of afternoon lows? Nothing! Absolutely nothing, yet a manipulated computer-programmed churn-and-earn suckers’ rally based on fraud and b***s*** alone to keep suckers suckered, which makes for an especially great opportunity to sell / take profits since there’s much, much worse to come! Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) [ The instant  video on the economic / financial collapse from Stansberry and Associates is so well researched  and succinctly presented  that I’ve archived same on my website; also, because the facts and views presented comport with the facts and views I’ve presented on my site which I believe to be correct. This is a must-view, must-see that I strongly recommend!    
The complete url:    
http://www.albertpeia.com/stansberrysinvestmentadvisory.flv  ( 146mb – approx. 1 hr. 17 min. )         http://www.albertpeia.com/stansberrysinvestmentadvisory.mp4    (  374mb  )     Written text of presentation (without pictures  / charts)]  [A lot of pre-election year obfuscation, manipulation but the debacle is already here:  Harry Dent, Jr. Economy will be in a Depression by 2011
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012

 

Dollar down against major currencies Global investors are becoming antsy about the dollar’s role as the currency at the core of the world’s financial system.  (Washington Post) [  Antsy? At this point, if it was only just ‘antsy’ there’d be room to hope. Despite the understatement, this is now way beyond ‘antsy’.  Reality counts!   For first time, U.S. credit rating cut from AAA Standard & Poor’s announces that it has downgraded U.S. government debt to AA+, dealing a huge symbolic blow to the world’s economic superpower in what was a sharply worded critique of the American political system. (Washington Post) [ Come on! Let’s get real here! Symbolic? If it were only that. If it were only the american political system, there’d at least be a plausible reason for hope, albeit futile even at that. Indeed, pervasively corrupt, defacto bankrupt america, literally causing destruction domestically and internationally, is a testament to the failure of the american system generally, or more specifically what it has devolved into. Whatever america was and purports to be, it certainly doesn’t take a PhD in Poli Sci to know, ‘it ain’t that no more’. Moreover, the ‘genie’s out of the bottle’ and try as they may, like ‘trying to put toothpaste back in the tube’, or ‘unringing the bell’, perceptions of america will never be the same in the most negative but realistic and factual sense; that is, beyond the propaganda, efforts at censorship, and spin. Those ‘propaganda dogs don’t hunt no more.’ I can further say that in america, by close observation and direct experience (with more than sufficient representative sampling), I’ve seen and experienced the worst of human nature; behavior so egregious so as to defy any known norms of civilized behavior. Quite simply, there is no excuse for america!   Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’  America’s shine is wearing off

 

 

The powerless president  Obama remains indecisive, and ignored, as larger forces bring down the country.  Robinson: S&P downgrades the GOP   (Washington Post) [ Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown according to wobama aficionados / intractable wobama apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal character flaws (among many unmentioned) to exculpate the failed president wobama. Wobama’s failed miserably and yet had the easiest act in the world to follow in the persona of fellow failed president war criminal dumbya bush whose failed policies up to the real start of the election cycle he’s largely followed. After all, Mr. Robinson, how different really are the parties these days when profligate spending on illegal, unnecessary wars was continued when democrats controlled congress, and then even the executive office when continuing failed president and war criminal dumbya bush’s nation bankrupting, nation destroying war policies, protection for unprecedentedly huge wall street frauds, bush tax cut extensions for the wealthy, and then some (spending on top of it). Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

 

 



A win for opponents of SEC’s new rules Court decision could spell trouble for the agency as it puts in place some of the most far-reaching financial regulations in years. (Washington Post) [ Oh come on! The biggest frauds in the multi-trillions have been hands off despite the campaign promises to the contrary. The u.s. courts are so corrupt, it’s doubtful they’d rule against ‘the big money’. That they don’t understand the economics / finance is irrelevant to them; as is also so of the law and the facts which they probably understand but ignore anyway. The most important consideration should be what is obvious to all; viz., that the way things were not only facilitated the fraudulent schemes that have brought down the nation, but will continue prospectively as the frauds on wall street have been emboldened by the lack of enforcement / prosecution. That said, there’s corruption thoughout the ranks of the pervasively corrupt american government.  .   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  Though having but 5% of the world’s population, the u.s. has 76% of the world’s serial killers,          http://www.albertpeia.com/realifeamericaserialkillers.mpg     bankrupt america also spends more on military than all the nations of the world combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are included in this evolved american trait of inherent criminality  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 



Rubin: Fed to the country: the economy stinks

‘…information received since the Federal Open Market Committee met in June indicates that economic growth so far this year has been considerably slower than the Committee had expected. Indicators suggest a deterioration in overall labor market conditions in recent months, and the unemployment rate has moved up.The report adds: “The Committee now expects a somewhat slower pace of recovery over coming quarters than it did at the time of the previous meeting and anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate.”

 (Washington Post) [ As if we didn’t know and needed them to tell us. Don’t forget, this pre-election year is as good as it gets; yet is as dismal as can be imagined with substantially worse to follow. Dual Mandate? I’m surprised they had the audacity to use the term. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! What changed from yesterday which warranted a more than 600 point plunge with paper stocks still over-valued and a 545 bounce off of afternoon lows? Nothing! Absolutely nothing, yet a manipulated computer-programmed churn-and-earn suckers’ rally based on fraud and b***s*** alone to keep suckers suckered, which makes for an especially great opportunity to sell / take profits since there’s much, much worse to come! Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com)

What can the Federal Reserve do? With the U.S. economy at risk of a double-dip recession, the central bank lacks tools to do anything. (Washington Post) [ Oh I’d say they’ve done quite enough … wouldn’t you? … Is Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This catering to fraudulent wall street was a loser ab initio! That so-called ‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan and failed miserably except for the frauds on wall street who commissioned up and down; and, make no mistake, those computer-programmed high-frequency trading volumes have now been maximized for nation-economy-draining profits for the frauds like never before and have never been higher. The QE and dollar-debasement policies were always predictably inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that was but in reality good only for the frauds on wall street. No, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke stated, “the best way for the Federal Reserve to support the fundamental value of the dollar in the medium term is to pursue our dual mandate of maximum employment and price stability, and we will certainly do that.”

.. Bernanke’s results .. since Ben took the reins:

Feb ’06 – April ’11

Items in a Typical Budget

% Change

Food and Beverages

16.54%

Water and sewer and trash collection services

31.88%

Rent of primary residence

13.82%

Housing

8.68%

Fuels and Utilities

11.93%

Apparel

4.83%

Medical Care

20.11%

Gasoline (all types)

65.12%

Transportation

23.36%

Tuition, other school fees, and childcare

29.28%

Recreation

2.87%

 ..  The standard unemployment rate most often used by the Fed is currently at 9.1%, up 90% since Bernanke started.  The more inclusive (realistic) U6 number stands at 15.8%, up 75% in the same period.  The Civilian Participation Rate has declined 2.87% to 64.2%.

This is the lowest level the U.S. has seen since March, 1984.  The decline amounts to 8,946,844 fewer Americans in the labor force.  Had they not dropped out because of a lack of jobs, the “official” unemployment rate would be significantly higher.  While we can debate the meaning of the term maximum employment, it is clear that the jobs data has deteriorated considerably since Bernanke took the reins at the Fed.  ..

In conclusion, it is evident that Ben Bernanke is failing his mandates.  We believe it must come down to one of the following reasons:

1.       Bernanke does not know how to achieve his mandates;

2.       The policy tools employed don’t work;

3.       He does not have the ability to implement policies that would work;

4.       He is not trying to achieve his mandates;

5.       He has goals other than his legal mandates;

6.       He does not look at the data, and believes he is succeeding.

Matt Marcewicz &  Robert Barone, Ph.D.

.. ‘

 

 

Obama plans to preserve federal mortgage role The president’s decision to preserve a major role for the government marks a big milestone in the effort to craft a new housing policy from the wreckage of the mortgage meltdown. (Washington Post) [ Oh yeah! You can count on the government! Whew! Close call! Nothing to worry about now with the government on the job! A win for opponents of SEC’s new rules Court decision could spell trouble for the agency as it puts in place some of the most far-reaching financial regulations in years. (Washington Post) [ Oh come on! The biggest frauds in the multi-trillions have been hands off despite the campaign promises to the contrary. The u.s. courts are so corrupt, it’s doubtful they’d rule against ‘the big money’. That they don’t understand the economics / finance is irrelevant to them; as is also so of the law and the facts which they probably understand but ignore anyway. The most important consideration should be what is obvious to all; viz., that the way things were not only facilitated the fraudulent schemes that have brought down the nation, but will continue prospectively as the frauds on wall street have been emboldened by the lack of enforcement / prosecution. That said, there’s corruption thoughout the ranks of the pervasively corrupt american government.  .   Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen  america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman  Though having but 5% of the world’s population, the u.s. has 76% of the world’s serial killers,          http://www.albertpeia.com/realifeamericaserialkillers.mpg     bankrupt america also spends more on military than all the nations of the world combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are included in this evolved american trait of inherent criminality  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv  
 

 

Poll: Sharp dissatisfaction with D.C. The public doubts the government can fix the nation’s economic problems, Post poll shows. An unlikely landlord: Uncle Sam  (Washington Post) [ No surprise there (the doubts)!  Uncle Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited states   Italy unveils plan to calm fears of escalating crisis  (Washington Post) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1   Watch for fake gov’t data / reports owing to political desperation

 

 

Economy central as Obama starts tour With some of his harshest words yet, president criticizes GOP candidates on taxes, debt. (Washington Post) [ The eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Is Obama’s fate written in numbers? Recent economic data amounts to a formidable headwind for any incumbent president hoping for a second term. And Democrats worry time is running out. (Washington Post) [ Let’s just say the fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif  . ‘Don’t cry for him new argentina, the truth is he really screwed you’ … well you know that familiar theme and can ad lib, insert your own words! 
It’s still Obama’s party Why he won’t face a primary challenge: Republicans and racial politics. (Washington Post) [  It’s true … so right you are! Al Gore’s even pitchin’ in by donating the talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song in wobama’s honor (kidding) which goes something like this , ‘It’s his party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would cry too, if obama happened  to you …  Well, there you go … if the song says it it must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...
ignore cases that involve black defendants and white victims' – Time to get whitey, at last, at last, etc., say holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger, the mobster, either!’


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 

 

 

Robinson: Obama won the Iowa Straw Poll  (Washington Post) [ Oh riiiiight! What, on the theory that so long as you don’t hear wobama the b’s (for b***s***) words which invariably belie his actions or non-actions, it’ a victory for wobama? I don’t think so; nor does the overwhelming, including the unpolled, majority! Is Obama’s fate written in numbers? Recent economic data amounts to a formidable headwind for any incumbent president hoping for a second term. And Democrats worry time is running out. (Washington Post) [ Let’s just say the fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif  . ‘Don’t cry for him new argentina, the truth is he really screwed you’ … well you know that familiar theme and can ad lib, insert your own words! 
It’s still Obama’s party Why he won’t face a primary challenge: Republicans and racial politics. (Washington Post) [  It’s true … so right you are! Al Gore’s even pitchin’ in by donating the talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song in wobama’s honor (kidding) which goes something like this , ‘It’s his party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would cry too, if obama happened  to you …  Well, there you go … if the song says it it must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...
ignore cases that involve black defendants and white victims' – Time to get whitey, at last, at last, etc., say holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger, the mobster, either!’   The powerless president  Obama remains indecisive, and ignored, as larger forces bring down the country.  Robinson: S&P downgrades the GOP   (Washington Post) [ Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown according to wobama aficionados / intractable wobama apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal character flaws (among many unmentioned) to exculpate the failed president wobama. Wobama’s failed miserably and yet had the easiest act in the world to follow in the persona of fellow failed president war criminal dumbya bush whose failed policies up to the real start of the election cycle he’s largely followed. After all, Mr. Robinson, how different really are the parties these days when profligate spending on illegal, unnecessary wars was continued when democrats controlled congress, and then even the executive office when continuing failed president and war criminal dumbya bush’s nation bankrupting, nation destroying war policies, protection for unprecedentedly huge wall street frauds, bush tax cut extensions for the wealthy, and then some (spending on top of it). Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf      


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 

 




Is Obama’s fate written in numbers? Recent economic data amounts to a formidable headwind for any incumbent president hoping for a second term. And Democrats worry time is running out. (Washington Post) [ Let’s just say the fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif  . ‘Don’t cry for him new argentina, the truth is he really screwed you’ … well you know that familiar theme and can ad lib, insert your own words! 
It’s still Obama’s party Why he won’t face a primary challenge: Republicans and racial politics. (Washington Post) [  It’s true … so right you are! Al Gore’s even pitchin’ in by donating the talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song in wobama’s honor (kidding) which goes something like this , ‘It’s his party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would cry too, if obama happened  to you …  Well, there you go … if the song says it it must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...
ignore cases that involve black defendants and white victims' – Time to get whitey, at last, at last, etc., say holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger, the mobster, either!’

Postal Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it’s a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable:  October 15, 2010 (*see infra {ultimately delivered by UPS})


SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!

 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     crossexamofcoanbypeia.pdf   ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 


http://www.albertpeia.com 

 

 

 

Sincerely and Regards,

 

Al Peia



 

Show us your debt plan A challenge to the president, his opponents — and you. (Washington Post) [ Come on! This is disingenuously rhetorical. At the least, you look at reality. Pervasively corrupt, defacto bankrupt america’s growth days (and hence those rosy assumptions) are gone forever. Second, you begin with the amount that must be cut to avoid further dollar debasement among other obfuscating gimmicks which worsen the dismal scenario ($3 trillion over 10 years doesn’t come close to doing it). Thirdly, those responsible must be held accountable (and meaningful law must count for all!).    8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse ‘…  #8 The U.S. national debt continues to get worse by the day.  Just check out what economics professor Laurence J. Kotlikoff recently told NPR….“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap” ..’ Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Davis ‘This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘  Dave's Daily  'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St.   S&P Poised For Dropoff, Says Initial Jobless Claims  Forbes / Maureen Farrell   

 

 

Markets begin week on calmer note The positive results showed that the markets may be able to hang on to their gains. (Washington Post) [  The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! So what’s changed of significance (other than the full moon and consequent effects on the lunatic wall street frauds Train Reading: The Stock Market Is Insane The Wall Street Journal  ). Nothing!  Stocks rally on bad news, fraud, and b***s*** alone! 3 Reasons Markets Finished Up For the Third Straight Day Wall St. Cheat Sheet  1) U.S. economic data. According to the National Association of Home Builders, builder confidence in the market for newly built, single-family homes – the National Association of Home Builders/Wells Fargo Housing Market Index – was unchanged in August at a low level of 15. Also being reported today was an assessment of New York-area manufacturing activity, which declined for the third consecutive month and fell short of economists’ expectations.. 2) Japan. [Come on ... If the ‘meltdown’ proved anything it’s that Japan’s as bad as america in dealing with and reporting reality.]  Japan’s  economy contracted less than expected in the second quarter, despite a huge blow to industry and production dealt by the March 11 earthquake and tsunami. Gross domestic product declined at an annualized rate of 1.3% in the quarter ending June 30. Economists had forecast a 2.5% decline.. 3) Crude futures. After tumbling considerably over the past few weeks, crude-oil futures began to recover today. Crude for September delivery climbed roughly 3% today on the New York Mercantile Exchange, giving energy stocks a boost. Exxon Mobil , BP , Marathon , and Chevron all gained over 3% today …’ In a Downtrend, Sell a Rally (Daily FX)    Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    ‘Aftershock’ Book Predicts Economic Disaster Amid Controversy    Disturbing Charts Show Economic Meltdown in 2012. See the Evidence. (Newsmax.com)   Five Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Newsmax.com)  US Recession Is Guaranteed: Expert CNBC.com  

 

 

Europe’s crisis and the psychology of fear   (Washington Post) [ Given the reality and magnitude of Europe’s problems going forward, dwarfed only by the magnitude of those of pervasively corrupt, defacto bankrupt america, it brings to mind the words of the former Intel CEO (co-founder) Andy Grove ‘ Only the paranoid survive’ (of course, having survived the Nazis and escaped Communist-controlled Hungary in Europe, as a jew, one has to assume his perspective / outlook was somewhat ‘skewed’ thereby). Yet, let’s not kid ourselves to the point where virtual survival is threatened and at stake as is so for the EU. America isn’t alone in the downgrade spiral  (WP) Indeed, the EU has followed the contra-indicated perma war, evermore worthless Weimar currency, and a predispositon / tacit acceptance of paper securities schemes / scams / frauds which are integral to america’s ongoing, albeit obfuscated, debacle / crisis which given the unfunded debt load pegged at $211 Trillion among other estimates, is insurmountable and will end quite badly.  Poll: Sharp dissatisfaction with D.C. The public doubts the government can fix the nation’s economic problems, Post poll shows. An unlikely landlord: Uncle Sam  (WP) [ No surprise there (the doubts)!  Uncle Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited states   Italy unveils plan to calm fears of escalating crisis  (WP) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1   Watch for fake gov’t data / reports owing to political desperation! Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’.   Wall Street closes worst week since '08 with wild day NEW YORK (Reuters) S&P on U.S. downgrade: Debt pact 'falls short' - Reuters  S&P downgrades US credit rating from AAA   S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating  Wall St. Cheat Sheet    What Recovery? Forbes   ‘…we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with. And while we’re at it, we can’t ignore increasing sovereign debt problems in Europe…’  Top 3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet  1) Japan and Europe 2) Unemployment.3) Capital goods - billions of dollars in lost revenue. Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher.



Krauthammer: Our political system is working well  (Washington Post) [ Wow! There was a time back in the late sixties, early seventies when there were these long-haired people chastised by the so-called ‘establishment’ that would have just loved to be doin’ whatever it is that Mr. Krauthammer’s been doing to arrive at such a conclusion, so glaringly devoid of any reality whatsoever. Psychedelics, hallucinogens, magic mushrooms; what could it be that has brought Mr. Krauthammer into this fantasy world where even ‘Alice’ of Wonderland fame might feel comfortable in this netherland (sic) / netherworld created from the depths of Mr. Krauthammer’s imagination. I’m truly at a loss for words. After all, the warning by the underrated but great President General Eisenhower of the impending inherent danger of the military industrial complex came to fruition with the assassination of JFK and the reality of a coup d’etat thereby. All presidents, along with the two remaining branches of the pervasively corrupt, defacto bankrupt american government since have been at best stooges for such as the military industrial complex, the banksters / frauds on wall street, etc., to the substantial detriment of the vast majority in this country and throughout the world (ie., perma wars, huge securities frauds still extant / now marked to anything as per congressional FASB rule change, and unprosecuted. Beyond the immediate reach, or at least ‘penetration’ of american propaganda, an intelligent and astute individual, Legendary Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different bananas perhaps? { Of course this is absolutely true! And not just from the meaningfully lawless perspective – I had made such a statement on the record in a LA Superior Court Appellate Dept. proceeding in which said court literally ignored the law (the same is true of the costly, plushly accoutered lifetime appointee federal courts) which courts should indeed be abolished in these difficult economic / budgetary times. Additionally, from pervasive corruption, to debased over-printed currency, to gunboat diplomacy, to total incompetence, etc., america is indeed a banana republic at most. }    I didn’t see the debates {what does it matter what they say – the egregious ‘wobama the b’ (for b***s***) fatigue factor / experience} nor have I read Mr. Robinson’s article, ‘GOP Debate Land’ but I’m sure I’d agree with his conclusion,  ‘I didn’t recognize the America the GOP candidates described;’ but unfortunately, I do recognize the pervasively corrupt, defacto bankrupt america of ‘wobama the b’ (for b***s***), failed president like his predecessor, moron war criminal dumbya bush, that he is. The powerless president  Obama remains indecisive, and ignored, as larger forces bring down the country.  Robinson: S&P downgrades the GOP   (WP) [ Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown according to wobama aficionados / intractable wobama apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal character flaws (among many unmentioned) to exculpate the failed president wobama. Wobama’s failed miserably and yet had the easiest act in the world to follow in the persona of fellow failed president war criminal dumbya bush whose failed policies up to the real start of the election cycle he’s largely followed. After all, Mr. Robinson, how different really are the parties these days when profligate spending on illegal, unnecessary wars was continued when democrats controlled congress, and then even the executive office when continuing failed president and war criminal dumbya bush’s nation bankrupting, nation destroying war policies, protection for unprecedentedly huge wall street frauds, bush tax cut extensions for the wealthy, and then some (spending on top of it).
Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.



Poll: Sharp dissatisfaction with D.C. The public doubts the government can fix the nation’s economic problems, Post poll shows. An unlikely landlord: Uncle Sam  (Washington Post) [ No surprise there (the doubts)!  Uncle as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited states   Italy unveils plan to calm fears of escalating crisis  (Washington Post) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1   Watch for fake gov’t data / reports owing to political desperation! Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’.   Wall Street closes worst week since '08 with wild day NEW YORK (Reuters) S&P on U.S. downgrade: Debt pact 'falls short' - Reuters  S&P downgrades US credit rating from AAA   S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating  Wall St. Cheat Sheet    What Recovery? Forbes   ‘…we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with. And while we’re at it, we can’t ignore increasing sovereign debt problems in Europe…’  Top 3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet  1) Japan and Europe 2) Unemployment.3) Capital goods - billions of dollars in lost revenue. Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher.

European economies brace as Germany slows Discouraging news about the pace of growth came just hours before German and French leaders called for new steps to impose discipline on governments whose lax budget practices prompted the debt crisis. (Washington Post) [ First, let’s call this economic scenario what it is; viz., the ‘d’ word … ‘depression’. For those who find that term unutterable, then ‘double-dip recession’ is the term for you. All the dollar debasement (over-printing, etc.) for the benefit of the frauds on wall street et als to the substantial detriment of everyone else can’t change and has exacerbated and obfuscated this fact. Moreover, there has been a manipulated churn-and-earn high-frequency trading bubble-bull cycle in what is unmistakably a secular bear market.   Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) ‘Robert Wiedemer’s new book, “Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown,” quickly is becoming the survival guide for the 21st century. And Newsmax’s eye-opening Aftershock Survival Summit video, with exclusive interviews and prophetic predictions, already has affected millions around the world — but not without ruffling a few feathers.    [ The instant  video on the economic / financial collapse from Stansberry and Associates is so well researched  and succinctly presented  that I’ve archived same on my website; also, because the facts and views presented comport with the facts and views I’ve presented on my site which I believe to be correct. This is a must-view, must-see that I strongly recommend!    
The complete url:     http://www.albertpeia.com/stansberrysinvestmentadvisory.flv )         http://www.albertpeia.com/stansberrysinvestmentadvisory.mp4    Written text of presentation (without pictures  / charts)]  [A lot of pre-election year obfuscation, manipulation but the debacle is already here:  Harry Dent, Jr. Economy will be in a Depression by 2011
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012).
   Forecasts from Dent, Napier, and then Prechter: Depression is Imminent The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777 which was the starting point of its mania back in August 1982, and quite likely drop below 400 at one or more times during the bear market.

 

 

Make way for the ‘super bundlers’  The 2010 elections saw the rise of “Super PACs.” In 2012 it will be a new breed of fundraisers. (Washington Post) [ ‘Super bundlers’? If Mr. Eggen had said ‘facilitators for the super bunglers’, I would have recognized what he meant. But, ‘super bundlers’ immediately brings to mind another kind of fraud / scam, viz., those ‘bundled’ toxic asset worthless paper securities things so lucratively popularized by the frauds on wall street with the blessing of their ‘amen corner’ in Washington to the detriment of this and other nations and particularly this nation’s taxpayers / middleclass who’ve been decimated. If he had called them what they more realistically are, viz., visible slush funds for those visible invisible quid pro quo / bribe schemes, welfare of the nation be damned, I indeed would have known what I think he meant.  Is Obama’s fate written in numbers? Recent economic data amounts to a formidable headwind for any incumbent president hoping for a second term. And Democrats worry time is running out. (Washington Post) [ Let’s just say the fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif  . ‘Don’t cry for him new argentina, the truth is he really screwed you’ … well you know that familiar theme and can ad lib, insert your own words! 
It’s still Obama’s party Why he won’t face a primary challenge: Republicans and racial politics. (Washington Post) [  It’s true … so right you are! Al Gore’s even pitchin’ in by donating the talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song in wobama’s honor (kidding) which goes something like this , ‘It’s his party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would cry too, if obama happened  to you …  Well, there you go … if the song says it it must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...
ignore cases that involve black defendants and white victims' – Time to get whitey, at last, at last, etc., say holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger, the mobster, either!’

Postal Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid, USPS also proposes withdrawing employees from existing health and retirement plans and creating its own benefit programs. Congress would need to sign off. (Washington Post) [ I think it’s a great idea. Indeed, 50% would be substantially better. Even better yet, UPS should take over their entire operation. After all, UPS is well managed and efficient; and also, very reliable. On the other hand, the USPS is poorly managed, inefficient, and very unreliable:  October 15, 2010 (*see infra {ultimately delivered by UPS})


SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:

The following is my comment to an LA Times article regarding a Justice Department cover-up! As for your inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set forth therein:

ATF Chief Melson:Justice Department trying to shield officials (LATimes) Serrano

 

I believe him!

 I truly empathize with the ATF in terms of government cover-ups, notably by even the DOJ. You’ll recognize some familiar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie., drug money laundering, etc. – real cash cow for gov’t ops, bribes, etc.). [Did you know this about the following ATF Agents who were probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway LeBleu:   Died February 28, 1993 by gunfire at Waco. All four were examined by a pathologist and died from identical wounds to the left temple. All four had been body guards for Bill Clinton, three while campaigning for President and when he was Governor of Arkansas.They also were the ONLY 4 BATF agents killed at Waco. ]

 

 

 

Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:

 

October 15, 2010 (*see infra {ultimately delivered by UPS})

 

 

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

 

 

Dear Sir:

 

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

 

 

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case  RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages)      [  ricosummarytoFBIunderpenaltyofperjury.pdf   http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf          ].

 

 

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

 

 

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

 

 

  • A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
  • Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
  • The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [  Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]
  • Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     crossexamofcoanbypeia.pdf   ]
  • Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
  • Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

 

 

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

 

 

Sincerely,

 

 

Albert L. Peia

611 E. 5th Street, #404

Los Angeles, CA 90013

(213) 219-**** (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}

 

 

                       ----------

 

*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]

 

 

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 


http://www.albertpeia.com 

 

 

 

Sincerely and Regards,

 

Al Peia

 

 

The new Manchurian candidate The sad facts behind Rick Perry’s Texas ‘miracle’. (Washington Post) [ I haven’t looked too closely at this yet. After all, bushed of bushes and then there was johnson who’ve really done enough damage to warrant looking askance. Yet, there’s Ross Perot (not running) and Ron Paul; and of course, the great but substantially underrated President General Eisenhower was born there though raised in Kansas. To his credit, he’s railed against the incompetent wall street fraud oriented fed though one must still say of same, better late than never. It’s that bushie / johnson war thing that gives pause. Then there’s the gore / lieberman / nafta / now / bilderberg connection … what’s up with that? (to quote Keenan Thompson of SNL fame). Then there’s the Austin, Texas – based infowars.com / prisonplanet.com / Jone contingent who remain unconvinced:  Tell Rick Perry that there was NO ‘Texas Miracle’ Len Hart | The only pockets lined by GOP largesse (pork) are the pockets of an increasingly tiny ruling elite now just 1 percent of the total US population. Rick Perry’s Campaign Strategy: Become Ron Paul Steve Watson | Texas Governor promotes fiscal responsibility while his own state sits on a $13.4 billion deficit.

 

 

 

 

Stocks end 3-day rally U.S. stocks fall after a weak growth report in Europe rekindled fears about a global economic slowdown. (Washington Post) [ Let’s not kid ourselves, if it’s ‘not happening’ in Germany, it’s not happening; b***s***, spin, and politicking aside. Japan’s numbers, bad as they were, are too americanized to be believed and pervasively corrupt, defacto bankrupt american numbers are just plain ‘american’ (which if you’re not paying attention, is very negative.  The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! So what’s changed of significance (other than previous full moon and consequent effects on the lunatic wall street frauds Train Reading: The Stock Market Is Insane The Wall Street Journal  ). Nothing!  Stocks rally off lows on bad news, fraud, and b***s*** alone!   There's A Recession Coming According To The Data at Forbes  ,   Dell braces investors for a bumpy road 16 Aug 2011 Dell makes a case on why it can better weather an upcoming storm,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    ‘Aftershock’ Book Predicts Economic Disaster Amid Controversy    Disturbing Charts Show Economic Meltdown in 2012. See the Evidence. (Newsmax.com)   Five Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Newsmax.com)  US Recession Is Guaranteed: Expert CNBC.com   Absolutely nothing, yet a manipulated computer-programmed ( high frequency trading bots ) churn-and-earn suckers’ rally based on desperation, fraud and b***s*** alone (ie., backward looking, ‘revisions’, faked data, etc.) to keep suckers suckered, which makes for an especially great opportunity to sell / take profits since there’s much, much worse to come

 

 

Perry attack puts pressure on Fed ANALYSIS | The central bank is supposed to make its decisions based on economics, not politics. Perry takes aim at Bernanke   (Washington Post) [ When you’re right, you’re right. Can’t take that away from him. What can the Federal Reserve do? With the U.S. economy at risk of a double-dip recession, the central bank lacks tools to do anything. (Washington Post) [ Oh I’d say they’ve done quite enough … wouldn’t you? … Is Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This catering to fraudulent wall street was a loser ab initio! That so-called ‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan and failed miserably except for the frauds on wall street who commissioned up and down; and, make no mistake, those computer-programmed high-frequency trading volumes have now been maximized for nation-economy-draining profits for the frauds like never before and have never been higher. The QE and dollar-debasement policies were always predictably inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that was but in reality good only for the frauds on wall street. No, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke stated, “the best way for the Federal Reserve to support the fundamental value of the dollar in the medium term is to pursue our dual mandate of maximum employment and price stability, and we will certainly do that.”

.. Bernanke’s results .. since Ben took the reins:

Feb ’06 – April ’11

Items in a Typical Budget

% Change

Food and Beverages

16.54%

Water and sewer and trash collection services

31.88%

Rent of primary residence

13.82%

Housing

8.68%

Fuels and Utilities

11.93%

Apparel

4.83%

Medical Care

20.11%

Gasoline (all types)

65.12%

Transportation

23.36%

Tuition, other school fees, and childcare

29.28%

Recreation

2.87%

 ..  The standard unemployment rate most often used by the Fed is currently at 9.1%, up 90% since Bernanke started.  The more inclusive (realistic) U6 number stands at 15.8%, up 75% in the same period.  The Civilian Participation Rate has declined 2.87% to 64.2%.

This is the lowest level the U.S. has seen since March, 1984.  The decline amounts to 8,946,844 fewer Americans in the labor force.  Had they not dropped out because of a lack of jobs, the “official” unemployment rate would be significantly higher.  While we can debate the meaning of the term maximum employment, it is clear that the jobs data has deteriorated considerably since Bernanke took the reins at the Fed.  ..

In conclusion, it is evident that Ben Bernanke is failing his mandates.  We believe it must come down to one of the following reasons:

1.       Bernanke does not know how to achieve his mandates;

2.       The policy tools employed don’t work;

3.       He does not have the ability to implement policies that would work;

4.       He is not trying to achieve his mandates;

5.       He has goals other than his legal mandates;

6.       He does not look at the data, and believes he is succeeding.

Matt Marcewicz &  Robert Barone, Ph.D... ‘




Market plunge reawakens recession fears Bleak numbers for U.S. jobs, housing and manufacturing compounded the anxiety over European woes, sparking a market sell-off and wiping out the major U.S. indexes’ gains from earlier this week. (Washington Post) [ The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! Train Reading: The Stock Market Is Insane The Wall Street Journal  Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data at Forbes  ,  HP, Dell hammered as tech-spending outlook darkens   JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade   Dell braces investors for a bumpy road Dell makes a case on why it can better weather an upcoming storm  ,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    Famed economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com)   Five Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing Charts. (Newsmax.com)  US Recession Is Guaranteed: Expert CNBC]

 



Obama issues first explicit call for Syrian president to resign The rhetorical escalation was backed by sanctions designed to undermine military operations. (Washington Post) [ The reply: right after you wobama for gross incompetence, for harboring war criminals bush and cheney et als, for unconstitutional exercise of war powers alluded to by congressional members, for fraud in the inducement and factum (false campaign statements/promises), and as soon as you return that ridiculous thing called the ‘nobel peace prize’ belied by your actions, etc.. Come on! Who takes this clown, ‘wobama the b’ (for b***s***), seriously. He’s a total joke and totally pathetic at once!  Robinson: Obama won the Iowa Straw Poll  (Washington Post) [ Oh riiiiight! What, on the theory that so long as you don’t hear wobama the b’s (for b***s***) words which invariably belie his actions or non-actions, it’ a victory for wobama? I don’t think so; nor does the overwhelming, including the unpolled, majority! Is Obama’s fate written in numbers? Recent economic data amounts to a formidable headwind for any incumbent president hoping for a second term. And Democrats worry time is running out. (Washington Post) [ Let’s just say the fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif  . ‘Don’t cry for him new argentina, the truth is he really screwed you’ … well you know that familiar theme and can ad lib, insert your own words! 
It’s still Obama’s party Why he won’t face a primary challenge: Republicans and racial politics. (Washington Post) [  It’s true … so right you are! Al Gore’s even pitchin’ in by donating the talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song in wobama’s honor (kidding) which goes something like this , ‘It’s his party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would cry too, if obama happened  to you …  Well, there you go … if the song says it it must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...
ignore cases that involve black defendants and white victims' – Time to get whitey, at last, at last, etc., say holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger, the mobster, either!’   The powerless president  Obama remains indecisive, and ignored, as larger forces bring down the country.  Robinson: S&P downgrades the GOP   (Washington Post) [ Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown according to wobama aficionados / intractable wobama apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal character flaws (among many unmentioned) to exculpate the failed president wobama. Wobama’s failed miserably and yet had the easiest act in the world to follow in the persona of fellow failed president war criminal dumbya bush whose failed policies up to the real start of the election cycle he’s largely followed. After all, Mr. Robinson, how different really are the parties these days when profligate spending on illegal, unnecessary wars was continued when democrats controlled congress, and then even the executive office when continuing failed president and war criminal dumbya bush’s nation bankrupting, nation destroying war policies, protection for unprecedentedly huge wall street frauds, bush tax cut extensions for the wealthy, and then some (spending on top of it). Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.

Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ]New low of 26% approve of Obama on economy...
Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

 

Even that italian, belafonte, isn’t buying ‘wobama brand(ed)’:

 

Drudgereport: HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...      

Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.

http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog / the grim economic reality   [  http://albertpeia.com/grimreality.htm           

CRIME STATS(u.s.No.1)

Rank  

Countries 

Amount 

 

# 1  

United States:

11,877,218 

 

# 2  

United Kingdom:

6,523,706 

 

# 3  

Germany:

6,507,394 

 

UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...      ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.        


THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    

 

 



Democrats strike back on taxes Obama and others are gambling that voters will see GOP’s stance as recalcitrant and out-of-touch. (Washington Post) [ Ooooh! ‘The Empire Strikes Back’! They’ve done it again! Brilliant political gambit! Checkmate in 2 … 012 … NOT! … Come on! While perma-war/wall-street-fraud-etc.-lovin’ republicans, as democrats, are complicit in this mess called pervasively corrupt, defacto bankrupt disunited states of america, recalcitrance and out-of-touch is hardly the exclusive province of one party or the other which have in large measure morphed into one conglomeration of venality, self-interest, crime, incompetence and corruption. Actions, not words, count! Results count! How ‘bout recounting the actions, results! Dismal at best, globally embarrassing at worst!  Italy unveils plan to calm fears of escalating crisis  (WP) [ Yeah, dem piigs were back in the news. Dem PIIGS still got problems.  Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS.  Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’.  Pelosi: ‘We are not Greece’  ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py.  Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.  Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax  http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1   Watch for fake gov’t data / reports owing to political desperation! Why You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The market is building momentum to the downside’.   Wall Street closes worst week since '08 with wild day NEW YORK (Reuters) S&P on U.S. downgrade: Debt pact 'falls short' - Reuters  S&P downgrades US credit rating from AAA   S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating  Wall St. Cheat Sheet    What Recovery? Forbes   ‘…we can’t call this a recovery. There’s no reason to celebrate when a job report was better than expected. Why? Because the expectation was abysmal to begin with. And while we’re at it, we can’t ignore increasing sovereign debt problems in Europe…’  Top 3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet  1) Japan and Europe 2) Unemployment.3) Capital goods - billions of dollars in lost revenue. Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling In May Is Very Good Advice This Year  Harding   Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone!   PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows     Stock Market: 4 Current Warning Signs  Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher.

 

 

Bad luck? Bad faith? Obama’s explanation for our current malaise. Really? (Washington Post) [ Yeah! This really ‘takes the cake’! When I first heard that ridiculous utterance by ‘wobama the b’ (for b***s***) I was inclined to ‘fall off my chair’. But alas, so innured to wobama’s b***s*** have I become, it barely registered a ‘ho-hum’. He is so pathetic! Such a total joke! I really mean it! There’s no excuse whatsoever for ‘bush failure 3’, ‘wobama the b’!  Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [  Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***).  Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters.  Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.

 

Stocks plunge on Europe’s banking worries  (Washington Post) [ Oh … so that’s what happened … those european banking worries … sure coulda’ fooled many here stateside who are, in light of dismal realities here, yellin’, ‘look homeward hell’s angels’. This sounds like a job for … Rosanne Rosanna Dana, formerly of SNL fame and as her mama always used to say, which is also her hypothesis, ‘it’s always somethin’ … (but unfortunately, that somethin’ is not necessarily what they say it is). How ‘bout the fact that stocks are substantially over-loved, over-valued owing to a multitude of (wall street benefiting) fraudulent artifices which are intended to obfuscate, as in the last and ongoing debacle, their most current computerized  manipulated churn-and-earn high-frequency trading bubble-bull cycle in this unmistakably secular bear market.  The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! Train Reading: The Stock Market Is Insane The Wall Street Journal  Stocks rally off lows to suck suckers in and keep suckers sucked in on bad news (Jobless Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says ), and b***s*** alone!  MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com,  WHY NEW LOWS ARE LIKELY  8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed ‘A real bear market has begun …’ ,  Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,  There's A Recession Coming According To The Data at Forbes  ,  HP, Dell hammered as tech-spending outlook darkens   JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade   Dell braces investors for a bumpy road Dell makes a case on why it can better weather an upcoming storm  ,   S&P says sell Google's shares after Motorola deal  ,  STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know  Joe Weisenthal ,   Stocks Slip On Concern Over Europe's Debt, U.S. Data  ,  Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And Sell Stocks Now at Forbes, [video] Trader: We Could Test 1120 Lows at TheStreet.com   In a Downtrend, Sell a Rally (Daily FX)     Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here.    Famed economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1      50% unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com

 

 

Drudgereport: TEMPLETON chairman: Financial Crisis 'Around Corner'...
'WE ARE ON THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
GALLUP: APPROVE DOWN TO 38%...
Highest Negative Rating Ever...
DOJ raids guitar factory...
UPDATE: GIBSON GUITAR CEO slams raids as 'overreach'... [ With unprosecuted securities fraud in the trillions, and my own experience with the ‘DOJ’ that has covered up serious RICO crimes, etc.,  http://albertpeia.com/fbimartinezcongallard.htm   http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf     http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm   , I find this somewhat incredulous in terms of priorities!]
JOBS: ZERO...
BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS WINTER... [Good! Let UPS take them over … the usps is totally unreliable]
AMERICA FALLS TO 5TH PLACE...
46.2 million Americans are now poor...
22% of children in poverty...
Dramatic drop in median income...
Likely to worsen...
POVERTY SOARS
SETS NEW RECORD

POLL: OBAMA 41% ANY REPUBLICAN 47%...
RE-ELECT: 41%...
'AIMLESS OBAMA WALKS ALONE'...
'Loner'...
AP: Disconnected from reality...
STUDY: USA not in top 10 for starting a business...
NEW DOWNGRADE THREAT
NUMBER OF 'NEAR POOR' STARTLES CENSUS...
MSNBC Matthews Turns On Obama...
'I Hear Stories That You Would Not Believe'...

COMPANY SHOCK: 'WE'RE NOT HIRING UNTIL OBAMA GONE'
OBAMA LOSES SUPPORT FROM BLUE COLLAR DEMS...
RUSSIAN ANCHORWOMAN FLIPS OBAMA THE BIRD...
FITCH TURNS NEGATIVE ON US
Obama's Job Approval Drops Below Carter's...
S&P Downgrades Dozens Of Global Banks...
REPORT: Hank Paulson passed inside information to fund managers...
'OBAMA IS A CORPORATE PUPPET'...
Support for Obamacare hits new low...
RE-ELECT AT 43%
GALLUP SWING: OBAMA BACK DOWN TO 41% APPROVE, 50% DIS...
USA Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP...
Levin: Obama's Comment 'Forthright Statement Of A Dictator'...
RUBIO TO OBAMA: YOU'RE TURNING AMERICA INTO 'DEADBEAT NATION'...
GROUP PLANS TO FLY 'IMPEACH OBAMA' BANNER OVER SUPER BOWL...

RON PAUL SAVAGES SANTORUM AS 'CORRUPT'...
WAR DRUMS: Iran, Israel and US plan Gulf exercises...

Diamond Prices 'To Jump 20%', Outperform Gold...
RUBIO SENDS WARNING LETTER TO OBAMA: DEBT SOON 'WELL ABOVE $16 TRILLION'... DEVELOPING...
2-22-12
Gas Prices Jump 10 Cents -- in Two Minutes!
$6 GAS
Record oil price sparks fears...
US EMBASSY IN KABUL ON LOCKDOWN AS KORAN BURNING PROTESTS EXPLODE...
FEDS: Fresh milk 150 times more dangerous...

'Propaganda'...

Gov't launches war on hair dryers...

Percentage of Americans who pay NO TAX hits 49.5...
GODFATHER II: Rahm to co-chair Obama re-elect...
2-21-12
OIL HITS $106...
White House seeks to deflect blame...
GALLUP: Unemployment Rises to 9% In February...

SATISFACTION WITH COUNTRY WORST SINCE CARTER...
Michelle hits the slopes in Aspen month after Hawaiian holiday...
16th vacation in 3 years…[ Something a bit negroish about this seeming predisposed proclivity for all the vacations of the obamas which I’m not the first to take note of; then, as well, there’s wobama’s spending greater than that of all the presidents since Eisenhower combined – well, you know, it’s an election year -  that ‘nigger-rich’ phenomenon despite the nation being virtually insurmountably defacto bankrupt! ] ...
For Baby Boomers, it's now 'work til you drop'...

Gas prices highest ever for this time of year...
$4.93 in Los Angeles...
Already, talk of summer 'staycations'...
IRAN CUTS OIL TO UK, FRANCE...
Saudi Arabia CUTS Oil Output...
Oil prices hit 9-month high...
Iranian warships dock at Syrian port...
US, Britain urge Israel not to attack...
2-17-12
FEBRUARY: Gas prices rise to $4 in Los Angeles...
Record High For Month...
President Putin unleashes wave of anti-American sentiment...
Britain fears new Cold War over Iran...
Iran sends 'message of peace and friendship'...
Turkey will not allow NATO to share intelligence with Israel {Wise!}...

CAMPAIGN: OBAMA TOUTS PLANT HE TRIED TO CLOSE...
Michelle Obama takes a ski vacation...
Dem convention co-chair's company got $230m in federal loans for 'green' projects...
2-16-12
PAT BUCHANAN: I'VE BEEN BLACKLISTED! OUT AT MSNBC…[ This is rather incredible, and certainly pathetic! Always a voice of reason and whose fact-filled, fact based writings and positions were typified by fearless candor, this tragedy of monumental proportion hearkens back to another dark time in american history when such blacklisting / censorship was common place even as though over-reaching the threat though exagerrated was more real. Indeed, today, the purported threat is in reality exposure of the clearly incompetent, misguided and corrupt actions of government bureaucrats who consistently attempt to cover up their failings which have caused this indisputable decline of, from his perspective, a once great nation. ] ...
Dollar Getting No Respect...

CBO: Longest Period Of High Unemployment Since Great Depression...
USA will hit debt limit before election day...
China wants say in World Bank choice; Challenge US grip…[Indeed. After all, reality should count for something.]...
Obama loses financial backing of big San Fran donor…’ "I don't know where he stands on anything," – [ Join the club, Mrs. Buell. It’s a club that includes wobama himself, until the teleprompter speaks. ]  ‘...

2-15-12 $3.9 Billion in Fed Cash Flowed to Energy Firms With Ties to White House...
Insiders had 'huge stake in decisions'...
Big donors reap subsidies...

China Reduces Holdings of U.S. Treasuries...
...lends more than $75bn to Latin America
Egypt state media accuses US of spreading anarchy...
Greek rhetoric turns hot...
'Forces' pushing Athens out of euro...

2-14-12 Heightened Security in U.S. Over Iran Threat; Police Guard Jewish, Israeli Targets...
WARSHIPS SAIL THROUGH HORMUZ...
US, Europe look at crippling financial lifeline...
Ahmadinejad to show off new nuke facilities...
'Neutralized' Stuxnet virus...
Decision On Iran Attack To Be Made 'By Summer'...
GAS PRICE UP 83% DURING OBAMA
EU divisions threaten aid for Greece...
REPORT: Chicago most corrupt city in USA...

2-13-12 ATHENS BURNS
Greece passes new austerity bill...
Rioting Intensifies...
Soros Slams Merkel; Warns of 'Great Depression'...
Samuel L. Jackson: 'I Voted for Obama because he's black'...
US SENATE BAILS OUT BARBER SHOP...

Budget to increase taxpayer losses on TARP...
US SENATE BAILS OUT BARBER SHOP...

TMZ: Houston died of drug, alcohol combo...
REPORT: Not enough water in lungs to have drowned...
2-10-12 Obama budget to miss deficit goal...
-$1,330,000,000,000.00...

BISHOPS: Obama Solution 'Unacceptable'...
Burned by Religion Once Again...

NRA: Obama will 'erase' 2nd Amendment next term...

34 ITALIAN BANKS DOWNGRADED...

Head of CPAC: Jeb Bush could emerge at brokered convention…[Head of Reality: wobama’s dream come true!]...

Argentina accuses UK of deploying nuke weapons near Falklands...  Sub rub...

2-9-12 Rep. Bachus faces insider-trading investigation... Developing...

'Homeland Security' monitoring Internet for anti-govt sentiment, social unrest...
Archbishop: Obama Needs To Stop 'Intruding Into Internal Life Of Church'...
    'Betrayed'...

LAPD SETS UP DOMESTIC 'WAR ROOM'

WIRE: Foreclosure Deal to Spur Home Seizures...
Greece deal fails to convince, EU demands more...

Fresh wave of strikes...
2-8-12 Obama approval rating 'below historical reelction standard'...

REPORT: Gov't Dependency Shoots Up 23%, Biggest Jump Since Carter...
REICH: Obama Has Handed Election Over To Super Rich...

International 'militarization' in Syria growing closer...
China defends veto … {Really not necessary in light of u.s., israel, eu irrationality } ...

POLAR ICE CAPS MELTING LESS THAN THOUGHT...
STUDY: Himalayas, nearby peaks lost no ice in past 10 years...
Scientists 'stunned'...

'I Feel Duped'...

2-7-12 Greece: 'There's no more left to cut'...

PAPER: NRC Publicly Told Americans No Danger After Fukushima...
Private Emails Tell Different Story...

Lawmakers Protest Removal of 'GOD' reference from Air Force Patch…[Yeah, I guess beyond propaganda that was just too much a stretch, given their Godless activities in recent times! ]...
2-6-12
Greece takes step closer to default...
Europe's banks face challenge on capital...
Record global sales of junk bonds...

CHURCH VOWS WAR ON OBAMA
'FIGHT IN STREETS'

Lieutenant Colonel Breaks Ranks:
Pentagon painting false picture of Afghan war...

'Military leaders have let us down'...

2-3-12 HAPPY DAYS ARE HERE AGAIN: Jobless Rate Falls to Lowest in Three Years...
Nasdaq Hits 11-Year High as Stocks Roar...
OBAMA WARNS CONGRESS: 'DON'T MUCK IT UP'..
Romney: Obama DOES NOT Deserve Credit...
Record 1.2M FALL OUT Of Labor Force...
SANTELLI: Here's What's Wrong With Data...

Artist Depicts Obama Trampling The Constitution...
2-2-12
Cameron Fleeing America To Escape Collapse!!!!!?
Ahmadinejad calls for new world order...
Holder: I Knew Nothing About 'Fast and Furious' Gun-Walking...

To Puerto Rican Rep: 'Wherever you're from'...
NYT loses $40million in 2011...

Woman Deported to Mexico; Feds Take Custody of Her Four Children...

2-1-12 MASTER DIRECTOR JAMES CAMERON: I'M LEAVING USA! [ This is a very big deal and a very ominous development regarding the usa, such as it is. Mr. Cameron is extremely intelligent, very civilized, and an historically great film maker / director. ]

US DEBT BALLOONS: $15,356,140,000,000...

El Centro, CA: 26.8% unemployment rate!

GALLUP: State polls predict huge Obama loss...
1-31-12
MITT 47% NEWT 32% RICK 13% RON 7%...
Full delegate count so far...
RUBIO: FL WINNER WILL BE NOMINEE...

Obama runs up another trillion-dollar deficit...
CBO says real unemployment at 10%...
Federal taxes to jump 30% in 2 years...
SHOWDOWN: Issa threatens Eric Holder with contempt...

CA to run out of cash by early March...

Soaring Beef Prices Force Shoppers To Find Other Options...
Teacher On Leave For Telling Class White Students Easier To Teach Than Blacks … [ Duh! Of course that’s true! Before you can solve a problem, you must identify and acknowledge the problem! ] ...
Video of black teens savagely beating white boy posted on FACEBOOK; gets 25 'likes' (probably by blacks) [ People must realize that you will never change the uncivilized, less evolved nigger. White people are self-destructively crazy to pretend and even try!  ] ... [ 
http://www.albertpeia.com/whitesvictimizedbyblacks.htm  ,  Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html  ]
VIDEO [EDITED]...

1-30-12 BUCHANAN: Reagan White House saw Newt 'political opportunist... not trusted'...
HUNT: Gingrich May Be Trying to Win One From the Gipper...
PALIN: 'Annoy A Liberal. Vote Newt!'
George Will: 'We're At The Horrid Stage'...
Gingrich: Romney 'Breathtakingly Dishonest'...
'Pro-abortion, pro gun-control, pro tax-increase'...
PREDICTS 5 MORE MONTHS OF THIS...
Hints Santorum should get out...
Romney Mocks Gingrich: 'Look in the mirror'...
POLLS, POLLS, POLLS...

GALLUPUSATODAY POLL OF SWING STATES:
Obama 47% Romney 48%
Obama 50% Paul 43%
Obama 51% Santorum 44%
Obama 54% Gingrich 40%

FRED DECLARES: Romney has 'DRUDGE in back pocket'… [ I think Fred’s wrong … I don’t think Romney has Drudge in his back pocket … I think Drudge favors Romney for Anne Coulter whom he likes! ] ...

Rep. West Torches Obama, Reid, Pelosi: 'Get the Hell Out of USA'...

GAFFE: Obama: 'We've created 22 3 million jobs'...

Investors face 70% loss in Greek deal...
China Buying Record Quantities of Gold...
-80F in Alaska! All-time USA record low temp almost broken
but thermometer breaks!

1-27-12 TWITTER's new censorship plan rouses global furor...

USA falls to 47th in press freedom rankings...

PAPER: Pentagon Seeks Mightier Bomb vs. Iran...
1-26-12
REAL GDP COLLAPSE: 1.7% FOR YEAR
Bankrupt: Electric Car Firm Got $118.5 Million Stimulus, Biden Visit...
ROMNEY: THE MOON CAN WAIT...
[
Newt Gingrich promises to build a moon colony by 2020; make it a U.S. state  Wow! Absolute proof that the slimy newt’s not dealing with a full deck. Say anything? This takes the cake! The ‘idea man’? Sure, all he needs is Aladdin’s lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldn’t just ‘go to the moon for the first time’ (that fake video with the flag waving in the moon’s windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke. There are signs everywhere one looks…The government’s total indebtedness is $211 trillion . How pathetic and desperate, that slimy newt! ]
NECK-FOR-NECK…[moon can wait, indeed; clearly a lucid moment for Romney, yet when asked about the 2-state solution, like a gumball machine he regurgitates the neocon/israeli line that the Palestinians want to eliminate israel when the truth is that the converse precedes and is truer; that is, that israel wants to eliminate palestinians and has with american fed military might acted accordingly…typical, total hogwash!]...
Ron Paul: Diplomatic relations with Cuba...
Gingrich jab at debate moderator deflected...
NYT: DRUDGE slammed for Anti-Gingrich Assault...

KURTZ: DRUDGE 'has never been part of any establishment' [ I’d say that’s a good thing and more reason to as I make Drudge a daily read! ]...

PUTIN: USA WANTS TO CONTROL EVERYTHING...

1-25-12 NEWT FLASHBACK: REAGAN WAS RESPONSIBLE FOR NATIONAL 'DECAY'...
'The Reagan administration has failed, is failing, and without a dramatic change in strategy will continue to fail... President Reagan is clearly failing'...

INSIDER: GINGRICH REPEATEDLY INSULTED REAGAN
NEWT SLAMMED SENATE REPUBLICAN LEADER DOLE: 'THE TAX COLLECTOR FOR THE WELFARE STATE'...
R. EMMETT TYRRELL: William Jefferson Gingrich...
COULTER: RE-ELECT OBAMA: VOTE NEWT!...

'Conservatives should not be surprised by scandals that lie ahead'...

What Reagan Thought of Newt -- Excerpt from The Reagan Diaries...

State of the Union Ratings Down 12%...
Obama's Lowest...

MERKEL CASTS DOUBT ON SAVING GREECE FROM MELTDOWN...
Portuguese bonds hit as traders fear default...
Soros Warns Of Dark Times...

Iran threatens to act first on EU embargo...
Tehran could block oil exports...

Iran-China trade soars...
OBAMA HAS HEATED ARGUMENT WITH AZ GOV.... DEVELOPING...

Flashback: President Gave Same Treatment to Jindal...

1-24-12 BRUINS GOALIE SNUBS OBAMA...
CURL: The Truly Dismal State of the Union...
PELOSI THREAT: NEWT WON'T BE PRESIDENT
'THERE IS SOMETHING I KNOW'

Rubio Defends Romney From Gingrich Attack...

GETTING OUT: 1,000+ Americans ditched their citizenship over taxes...

Buffett would profit from Keystone oil cancellation...
Billionaire's secretary to sit in first lady's box for State of Union address...
'Couldn't Sleep'...
Boehner invites pipeline workers...
Obamanomics: Price Of Gas +83%, Ground Beef +24%, Bacon +22%...
DETAILS: Daniels Blasts 'Extremism' in Response...

Romney gave 15% to charity; Obama 1%...
Biden gave $369...

Post Office 'Needs to Cut 260,000 Jobs'...

Rand Paul refuses patdown...
'I was BARKED AT: 'Do not leave the cubicle!'...
'Police state growing out of control'...
On way to Senate, March For Life...
Constitution: 'Privileged From Arrest'...
'HOMELAND' DETAINS U.S. SENATOR
WHITE HOUSE SIDES WITH TSA
OBAMASCARE: Supremes refuse to consider Kagan recusal...
MITT FIRE: SPEAKER NEWT 'RESIGNED IN DISGRACE'...

Calls Gingrich 'Highly Erratic'...
'It's an October surprise every day'...

PAWLENTY: OBAMA WOULD BEAT GINGRICH...

NEWT EATS THE PRESS...
Coulter: SC Voters Rather Have Snotty Remarks Toward Obama Than Win...
953 dead people voted in SC?
Gingrich plans speech on space...

Romney: Gingrich 'failed leader,' 'disgrace'...
Santorum sticks around and gives grief...
Dems still fixated on Romney...

FLASHBACK: Gingrich favored censoring web to fight terror...

Obama signals State of Union a campaign rallying call...
Ombudsman to WASH POST: Hit Obama Harder...

DEFIANT: Greece presses EU to ease Iran oil sanctions...

Flaming-horned bull fatally gores man in Spain...

COPS: Black Woman cut baby from womb, let mother die… (you may recall a similar case involving a black female perp – such savagery) ...

CYBER WAR: Feds SHUT DOWN file-sharing website; No trial, no due process...
'This is just the beginning'...
'Anonymous' Goes on Revenge Spree ...
DoJ, RIAA, MPAA, and UNIVERSAL MUSIC All Offline...
GOOGLE Already Using SOPA-Like Censorship...
Republicans stand together to oppose 'piracy' law...

Canada Pledges to Sell Oil to Asia After Obama Rejects Keystone Pipeline...
China gets jump on U.S. for Brazil's oil...

DEFIANT: Greece presses EU to ease Iran oil sanctions...

Final hours...
Romney Pushes Gingrich to Disclose Ethics-Probe Details...
NEWT'S PUBLIC CLASH WITH REPORTERS -- DIFFERS FROM PRIVATE...
Chuck Norris endorses Gingrich!
Livingston: 'Newt is Volatile'...
NETWORK SOURCE: Newt Cancels ABC's THIS WEEK For Sunday... Developing...
Romney sings Happy Birthday to SC gov....
Insiders coalescing...
5 MILLION WATCH CNN DEBATE [6.2 MILLION MTV 'JERSEY SHORE', 18 MILLION 'AMERICAN IDOL']...
Santorum: SC is NOT end of line...
PAPER: 'America hates Newt Gingrich'...
Citadel Cadets Differ on Republican Favorite...

POLL: Romney, Ron Paul Tie Obama...
German Deputy: S&P Downgrade Part of American 'War Against Euro' … [ Well, it’s about time someone acknowledged the reality of what’s been going on; which of course brings into focus the absolute stupidity attendant to europe’s ‘go along to get along’ policies vis-à-vis america which depite obfuscation is far more bankrupt than europe and far more desperate. It could have been totally different for europe. ] ...
HANDS OFF THE INTERNET!

LAWMAKERS RETREAT FROM 'ANTI-PIRACY' BILL...
Rubio Withdraws Support...
'Could Have Many Unintended Consequences'...

DNC chair supports...
Treasury dips into pension funds to avoid debt...
Obama kills Keystone pipeline; Blames Republicans...

Says more jobs in jobless benefits...
GOP calls Hillary to testify...

AP: ABC TO AIR THURSDAY NIGHT...
GINGRICH DAUGHTERS: 'The failure of a marriage is terrible and emotional experience'...

NEWT EX-WIFE UNLOADS
Wed Jan 18 2012 Marianne Gingrich has said she could end her ex-husband's career with a single interview… UPDATE: The AP reports ABC is now likely to air the segment Thursday on NIGHTLINE.

Russia warns strike on Iran would be 'catastrophe'...
FITCH: Greece to Default, 'Will Be Orderly'...
Portugal moves into default territory...

FDIC Requires Big Banks to Have Breakup Plan...

FOREIGN COMPANY BUYS U.S. ELECTION RESULTS REPORTING FIRM...
GLOBAL REPORTING RAISES ALARMS...

CHICAGOLAND: Pit Bulls Attack Jogger, Chew Off Foot…[ When have you ever heard of a cat doing that? Or killing infants/children? Cats are ‘humans best friend’! ]...

WILL RETURN LOST DRONE -- A MINIATURE PINK PLASTIC ONE...
Russian State TV bashes new U.S. ambassador...

CHICAGOLAND: Video Of Teen Beaten By 7 Thugs  YOUTUBE...

Man Fatally Beaten Steps Away From Liberty Bell In Philly…

All Four Wheels Stolen From Cars At Dealership... new york…police officers are investigating a rash of tire and rim thefts that leave victims with their cars on piles of bricks.  Last week, five cars parked in front of private homes were hit…comment: Happens all the time in Maryland. [ Much worse happens all the time in pervasively corrupt/defacto bankrupt, meaningfully lawless america, home of the brave … criminals and mentally ill! http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm        Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog ]

BUST: Another Gov't-funded solar company lays off most of staff...
La dégradation: S&P Cuts Credit Ratings for NINE EU Nations...
Friday 13th Shakes Europe...

France stripped...
POLITIZAP: Sarkozy braced for impact...
Italy tumbles...
Austria Loses...
Germany Spared...
BRINK: Banks Say No Deal on Greek...

LET'S GROOVE … [  ALEXANDRIA, Va. (AP) — They called it “random dancing” but First Lady Michelle Obama broke out some moves that resembled subdued variations of “the Monkey” or “the Jerk” Friday during an appearance at a northern Virginia high school… (she’s comfortable with the monkey / jerk)   ] ...  [ see http://www.albertpeia.com/chimpodoinmonkeyjerk.htm  ]
'Dance Party For Obama'...
MAG: Mossad agents posed as CIA in operation… [  "It's amazing what the Israelis thought they could get away with," a US intelligence officer told Foreign Policy. "Their recruitment activities were nearly in the open. They apparently didn't give a damn what we thought," said the official.    ]...
Iranians chant 'Death to America' at funeral for nuclear scientist...

Defiant Ahmadinejad wins backing of Latin American allies...
'HOMELAND SECURITY' MONITORING DRUDGE
'WILL RETAIN INFORMATION' (How totally pathetic, incompetent, and paranoid they are!)
BELAFONTE: OBAMA LACKS 'MORAL COMPASS'...
HOLDER ENDORSES OBAMA POWER GRAB...

Labor board holds 'meet and greet' for appointees that by-passed Senate...
UPDATE: Retail sales fail to hit forecasts...

'Worst Economic Recovery Since Great Depression'...
GONNA NEED ANOTHER TRILLION...
Debt Nears $15,194,000,000,000.00 Ceiling..
[http://www.rasmussenreports.com/public_content/politics/elections/election_2012/election_2012_presidential_election/2012_presidential_matchups ,
Election 2012: Generic Republican 47%, Obama 43% , Election 2012: Obama 44%, Romney 41% , Wednesday, January 11, 2012 -The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows that 22% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Thirty-nine percent (39%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -17  ]
Abandoned Baby Found in 'Occupy DC' Tent...
Greek children 'dumped in streets' as parents struggle...
TENSIONS RISE: AHMADINEJAD TOURS CUBA...

Pentagon moves carriers, denies Iran link...
Nuke Scientist Assassinated...
Third Killed...
USA presses China over Iran oil imports...
Jolie 'disappointment' in Obama...
38,000 Farmers, Ranchers Sue Corzine Over Missing Million$...
NH RESULTS: MITT 39% RON 23% JON 17% NEWT 10% RICK 9%...

Ron Paul To Everyone But Romney: Drop Out...
UPDATE: Pat Buchanan suspended indefinitely by MSNBC…[This is a tragedy typical of the left; to silence the staight-shootin’, perspicacious Buchanan, censor the internet/speech, arrest/detain americans without charge/constitutional protections, etc... Beck said that President Obama had “a deep seated hatred for white people.”The group similarly succeeded in a campaign to have conservative website mogul Andrew Breitbart banned from the front page of The Huffington Post, after Breitbart called the organization’s co-founder Van Jones a “cop killer-supporting, racist, demagogic freak. And a commie. And an eco-fraudster.”…’]
White House threw secret 'ALICE IN WONDERLAND' bash...
'Punch served in blood vials'...
WH 'covered up'...
Officials 'nervous about how splashy party would look to jobless Americans'...
WH: 'You can't believe everything you read in books these days'...
BYE BYE...
FLASHBACK: Daley planned to leave AFTER election...
Michelle (the repulsive, chimpish black) distressed about power of 'white Irish Catholic'...
New Obama Chief of Staff: Former Hedge Fund Exec at CITI, Made Money off Mortgage Defaults...
Castro: 'Robot' better than Obama, Republicans...
KODAK Preparing for Chapter 11 bankruptcy...

CEO on Obama's Jobs Council...
BOEING To Lay Off More Than 2,100 Workers At Wichita Plant...
L.A. arson wave grows to 40 fires; most since 1992 riots...
UPDATE: 16 new arson fires around LA...
Italian president urges sacrifices to save economy...
Sarkozy: France's future hangs in balance in 2012...
Greeks must avert economic collapse, euro exit...
PAPER: Loss of faith in politicians, democracy could make '12 most frightening year in living memory...
REPORT: OBAMA SPEEDS UP IMMIGRATION VISAS EVEN IF FRAUD IS SUSPECTED...

New laws take effect -- 40,000 of them! [ Arbitrarily enforced if at all – a nation of ‘lawslessness’ – what a bunch of frauds! See here - http://albertpeia.com/fbimartinezcongallard.htm  , http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  , http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm !
Motorcycles, Bicycles Allowed to Run Red Lights...
Michelle Obama Jokes: 'I Kind Of Like' Being Called Your Excellency [… yeah, kind of like in a ‘SubSaharan africa / Planet of the Apes’ kind of way… I find her wobamish jive-talking and chimpish look repulsive … what a fallen nation! ] ...
Cat survives 2 euthanasia attempts at shelter...
Christian University Sues Federal Government Over Obamacare...
AS IOWA TURNS: NEWT WEEPS [ Slimy newt’s muskie moment! ]
Floats Palin for VP...
Kills Chapter on 'Climate Change' in Upcoming Book...
On $4M Vacation, Michelle Seeks $3 From Backers...
Christie: 'After Three Years Of Obama, We Are Hopeless And Changeless'...

Just 55% Between 16 and 29 Have Jobs...
Dow Logs Gain in Volatile Year; S&P Ends Flat...

Flurry of Trades in Final Seconds Snatched Away 2011 Advance...
Gold Ends Year Up 10%...
Euro ends year as world's worst performing currency...
NERVES: 'Flash Crash' Threatens to Return With a Vengeance...
Women (blacks) trade punches over Air Jordans...

Pandemonium as shoppers race for shoes...
Cops pepper spray mob (of blacks) ...
Brawl...
Gunfire...
They Can't Wait, They (blacks) Break Into The Mall...
SEASON'S BEATINGS!
GALLUP: OBAMA HEADS TO HOLIDAY WITH 44% APPROVE...
OBAMA: 'There is a laziness in me' …(Indeed there is, no need to remind us) ...

2011 likely worst year for house sales on record, dating back to 1963...
Brazil's Economy Overtakes Britain As Sixth Largest...

French unemployment at 12-year high...
REPORT: Internet censor bill would target political websites...
Oil price climbs amid Iranian threat...

Vows to stop Gulf oil if sanctions widened...
I NEED ANOTHER $1.2 TRILLION…[so says ‘wobama the b for b***s***’ of defacto bankrupt america]...

Cuomo wants casino in New York City…[ Sure … save the mob that sometimes inconvenient (and costly ‘cut’) ‘trip’ to atlantic city, n.j. with the laundered (drug, etc.) loot / money … what would you expect from a typical n.y./n.j. guinea ] ...
Pelosi Slips Quietly into Hawaii Resort; $10,000 a night suite...
REPORT: Pelosi wants to retire -- says daughter [ must be miffed about that ‘no pay raise’ this year ] ...
Paul gets front-runner's welcome...
MICHELLE SPORTS $2K SUN DRESS...

MCDONALD'S Offers Free Coffee During Tough Economic Times...
STOCKS TURN NEG FOR YEAR...
Russia scolds United States for human rights abuse...
MELEE AT MALL OF AMERICA...
Man beaten by robbers -- who stole new Air Jordan sneakers off his feet!...

Hundreds of Teens Run Wild After Rumors That Rappers 'Lil Wayne, Drake Are There...
VIDEO: Mayhem, Screams...
California soldier shot at his homecoming party [ From one war zone to another!  ]
Islamists kill dozens in Nigeria Christmas bombs [ Blacks’ black Christmas! Typical! ]
For ‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I believe the under-profiled black serial killer is also the consequence of their proclivity for and love of killing, random, wanton savagery for no reason other than for the sake of killing (as, ie., rabid dogs, which distinguishes them from and positions them below other feral beasts) and otherwise, and an historic predisposition toward canabalism. After all, the contra-indicated mainstream ‘politically correct’ view (tv and otherwise) calls for a white perp in terms of ‘profile’ which is of course, ridiculous. I believe the under-reporting is owing to multiple killings by blacks being classified as something other than ‘serial’; ie., gang, gang related, ‘typical’, etc.. Moreover, the anti-white bias of the black perps is also a reality that’s under-reported. Take a look at the following brutally uncivilized black on white violent rapes/murders:

http://www.albertpeia.com/whitesvictimizedbyblacks.htm 

Black Serial/Mass/Spree Killer List:
1. Matthew Emanuel Macon (Murdered and Raped 5 White Women in Lansing)
2. Jimmie Reed (Murdered his wife and his 2 month old daughter and set them on fire)
3. Shelly Brooks (Murdered 7 prostitutes in Detroit Cass Corridor)
4. Justin Blackshere (Stabbed two white cooks at Cheli’s Chili downtown Detroit)
5. Jervon Miguel Coleman (Murdered three people.)
6. Donell Ramon Johnson (Murdered a mother and a daughter)
7. Brian Ranard Davis (6 women known murdered by nigger)
8. Paul Durousseau (Seven women)
9. Mark Goudeau “The Baseline Killer” (Eight women and a man in 2005-2006)
10. Coral Eugene Watts (11 women in Texas & 1 in Michigan)
11. Anthony McKnight (Five girls and young women)
12. Derrick Todd Lee (8 Women)
13. Charles Lendelle Carter (4 known murders; admits to ‘hunting’ Atlantans for 15 years!)
14. The Zebra Killings (71 White people)
15. Chester Turner (L.A.s most prolific killer 12 women killed.)
16. Lorenzo J. Gilyard (Kansas City, MO.—13 victims)
17. Eugene Victor Britt (Gary, IN.–3 known murder/rapes.)
18. Reginald and Jonathan Carr (The Wichita Massacre–6 Whites murdered)
19. Ray Joseph Dandridge and his uncle, Ricky Gevon Gray (Richmond, VA.–Murdered 7 people in 7 days, including an entire White family.)
20. The Tinley Park Murderer (Suspect hasn’t been found but has been described as black – murdered 5 women in a store.)
21. Henry Louis Wallace (Raped and strangled 5 women to death.)
22. Charles Johnston (Murdered 3 unarmed white men in hospital)
23. Craig Price (Brutally murdered 3 women)
24. Harrison Graham (Brually Murdered 3 women)
25. Charles Lee “Cookie” Thornton (Murdered 6 Whites at the Kirkwood, MO. city council. )
26. & 27. Darnell Hartsfeld & Romeo Pinkerton (Abducted and Murdered 5 from a restaurant)
28 &29. John Allen Muhammad & Lee Boyd Malvo (Sniped 11 people from a car in DC, 9 died.)
30. George Russell (3 women, WA state)
31. Timothy W. Spencer (5 killed, Arlington, VA and Richmond, VA)
32. Elton M. Jackson (12 gay men killed, Norfolk, VA area)
33. Carlton Gary (3 killed in Columbus, GA)
34. Mohammed Adam Omar (16 women, Yemen. Omar is Sudanese.)
35. Kendall Francois (8 women, Poughkeepsie, NY and surrounding areas.)
36. Terry A. Blair (8 women, Kansas City area)
37. Wayne Williams (33 many of them children!, Atlanta, GA)
38. Vaughn Greenwood (11 killed in LA)
39. Andre Crawford (10 killed in Chicago – southside)
40. Calvin Jackson (9 killed possibley more in NY)
41. Gregory Klepper (killed 8, Chicago – southside)
42. Alton Coleman (Killed 8 in the Midwest)
43. Harrison Graham (killed 7+ in N. Philadelphia)
44. Cleophus Prince (6 killed in, San Diego
45. Robert Rozier (7 killed in, Miami)
46. Maurice Byrd (killed 20 + in St. Louis)
47. Maury Travis (17 and rising, St. Louis and possibly also Atlanta)
48. Hulon Mitchell, a.k.a. Yahweh Ben Yahweh (killed 20+ in Florida)
49. Lorenzo Fayne (killed 5 children in East St. Louis, IL)
50. Paul Durousseau, (killed 6, two of which were pregnant women, Jacksonville, FL; Georgia.)
51. Eddie Lee Mosley (killed 25 to 30 women, south Florida)
52. Henry Lee Jones (killed 4 in, south Florida; Bartlett, TN)
53. Richard “Babyface” Jameswhite (15 killed in, New York; Georgia.)
54. Donald E. Younge, Jr. (killed 4), East St. Louis, IL; Salt Lake City, UT.
55. Ivan Hill (killed 6 in Los Angeles area).
56. Michael Vernon (Bronx, NY. Killed at least seven people – )
57. Chester Dewayne Turner (12 women killed in, Los Angeles)
ARREST MADE IN LOS ANGELES GRIM SLEEPER SERIAL KILLER CASE July 07, 2010 http://articles.cnn.com/2010-07-07/justice/grim.sleeper.arrest_1_lonnie-david-franklin-serial-killer-case-family-members?_s=PM:CRIME  |By Mallory Simon, CNN ‘Authorities in California said Wednesday they have arrested a suspect in the Grim Sleeper serial killer case and will charge him with 10 counts of murder.Lonnie David Franklin Jr., 57, faces an additional count of attempted murder, Capt. Kevin McClure with the Los Angeles Police Department said.Franklin will arraigned in court Thursday morning, McClure said.The California Attorney General's office attributed the arrest to DNA collected from a relative of the suspect, in a controversial and rarely used practice known as familial DNA search.’
Of Course There Are Black Serial Killers by Lynette Holloway on  July 15, 2010 The case of the "Grim Sleeper" inspires a second look at the popular perception that serial killing is the province of clever white men.
Serial Murderers' Row July 16, 2010 The following black men are among the most prolific serial killers in U.S. history. http://www.theroot.com/multimedia/gallery-meet-6-black-serial-killers  Plus: Behind the myth that only white men commit such crimes.
Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html
200 Involved In Fights At Mall Of America After Rumors That Rappers Are There...

Oil price near $100 on global security concerns...

Investors Lose Faith in Stocks As Billions Pour Out of Funds...

DANGER: Fed asks banks to keep more cash at hand...

IMF: World economy at a 'very dangerous juncture'...
90 Congressmen have 'no confidence' in Eric Holder, say he should resign...
HAPPY HOLIDAYS: USA DEBT NOW $15,123,841,000,000!
Russia and US clash over NATO bombing probe... UNITED NATIONS (AP) -- Russia urged the U.N. Security Council on Thursday to investigate civilian deaths in Libya from NATO's bombing campaign…

Matt Damon rips Obama again (abc’s ‘coco duo, rob mo and sunny ho disapproved’ of Matt’s rather tame but forthright criticism of failed president ‘wobama the b for b***s***’ for whom there is no legitimate defense!)...
Chavez: Obama a 'clown' president...

CONGRESSMAN: Michelle (Yuk! I find her simian look alone repulsive! Then there’s the jive-talk!) Obama 'has large posterior herself'...

'Lectures us on eating right'...

Local Cops Ready for War With DHS-Funded Military Weapons...
Armored cars with turrets, drones, military-grade assault rifles...
REPORT: Chevy Volt Costing Taxpayers Up to $250K Per Vehicle...

CAVUTO: Volt sales inflated with taxpayer fleet buys...

FED-EX guy chucks package over fence -- a computer monitor! [ I had a similar experience with fed-ex and the computer delivered didn’t work at all ]

UK's AAA credit rating threatened by 'formidable challenges'...
'Miracle' if France keeps it...

IOWA GOV: IGNORE PAUL WIN...
VOTE WILL BE HACKED!
Chavez: Obama a 'clown' president...[ …
“Mr. Obama decided to attack us,” Chávez said. “Now you want to win votes by attacking Venezuela. Don’t be irresponsible. You are a clown, a clown. Leave us in peace … Go after your votes by fulfilling that which you promised your people. Focus on governing your country, which you’ve turned into a disaster,” Chávez said, according to The Guardian…’ Read more: http://www.politico.com/news/stories/1211/70694.html#ixzz1hA7JMS1q  ]
PELOSI: Extending Unemployment Benefits Will Create 600,000 Jobs...
Cybersecurity bill would establish 'federal big brother'...

Internet architects oppose US online piracy bills..

France's AAA Outlook Cut as FITCH Reviews Ratings of Italy, Spain, Belgium...
Most stock funds post losses this year...

Gingrich: Send US marshals to arrest judges who defy Congressional subpoenas...
DANGER: BANK OF AMERICA shares close below $5...
Ron Paul Warns Martial Law Being Established in USA...
Missing $4,155? It Went Into Your Gas Tank This Year…[ and into wall street pockets courtesy of the fed’s over-printed Weimar dollars for QE’s, etc.]...
PAPER: GOP will take off gloves if Paul wins IA...
FEAR: IOWA VOTE WILL BE HACKED!
Frantic Bachmann 'everywhere' -- 13 stops in 1 day!

Widespread Obesity Forces Coast Guard to Lower Max Number of People on Ferries…[ Wow! ]...
US Capitol Christmas Tree Honors Obama, Not Jesus Or Christmas...

Fears over French credit downgrade...

China villagers threaten to march on government offices...
Communist party tested...
FLASHBACK: Hillary says 'Free internet from political control'...
Jews still try to segregate Israel buses...
By AMY TEIBEL [Yeah … they’re anti-women, anti-gentile, and … no surprise to me , they’re anti-semitic … you heard it … anti-semites … Arabs are semites! Could you imagine if such a thing happened to a jew or a black in america? You’d never here the end of it! ] JERUSALEM (AP) -- Israel's political leaders and chief rabbis on Sunday condemned persistent efforts by ultra-Orthodox Jewish men to shunt Israeli women to the back of public buses, a year after the country's Supreme Court outlawed the practice.The outcry came in reaction to an Israeli woman's experience of being asked to move to the back of a bus, which was  Facebook and became a cause celebre in the Israeli media on Sunday. The case even drew public comment from Prime Minister Benjamin Netanyahu, who deplored gender segregation.Ultra-Orthodox Jews, who make up about 10 percent of Israel's population of 7.6 million, have become increasingly aggressive in their efforts to impose their norms in public spaces. The ultra-Orthodox have segregated bus lines and some walkways in their neighborhoods.In Jerusalem, billboards depicting women have become a rarity because ultra-Orthodox vandals rip them down. The issue also has seeped into the military, where religious soldiers walked out of a military event several months ago because women were singing - which extremely devout Jews believe is contrary to Jewish law.In the past, ultra-Orthodox Jews have confined their strict practices to their own neighborhoods, alongside occasional attempts to pass restrictive legislation banning sale of pork or opening shops on the Jewish Sabbath.Recently the extremist Jews have been trying to impose their norms outside their own enclaves, but the effects are scattered. Most of Israel's secular majority is not directly affected.The Supreme Court was forced to wade into the controversy last year, when it ruled on the segregated buses and sidewalks. Although activists say harassment on buses has diminished since the court ruling late last year, some fiercely devout are persisting with their efforts to block the mixing of the sexes in public.Tanya Rosenblit, a 28-year-old woman from the southern town of Ashdod, discovered this last Friday, when she boarded a bus to an Orthodox neighborhood in Jerusalem. Shortly after she sat down behind the driver, a man wearing the black garb and flowing sidelocks of the ultra-Orthodox boarded the bus and asked her to move. She refused, and the man then blocked the bus from driving, she told The Associated Press. She held her ground - even after a male police officer dispatched to the scene asked her if she was "willing to respect them and move to the back," she said….’

McQueary: I saw Sandusky molesting boy...
I TOLD PATERNO...
15 EU Nations Placed on Negative Credit Watch...
Huntsman: Trump debate 'is a joke’ [ Yeah! He’s got that exactly right … after all, what can you expect from the joker, trump … a joke of course, or worse! ]'
PERRY WON'T KISS THE RING
BACHMANN WILL NOT ATTEND
Obama celebrates Hanukkah at White House...
TWO WEEKS EARLY?
LIGHTS ALL THE CANDLES...

'We Never Need an Excuse For a Good Party'[ Riiiiight! There’s plenty to party about in america today, and room for extra vacation time too! ]...
COMING SOON: AMERICANS IN GITMO...

Bill allows indefinite detention without trial...
Obama 'demanded law apply to U.S. citizens'...
Even Al Jazeera asks: 'How did we get here?'

US clears Iraqi airspace for Israeli strike on Iran...
IRAQI OFFICIALS SKIP U.S. END-OF-WAR CEREMONY...

China trims holdings of US Treasury debt...

FORECAST: GLOOMY...
FITCH downgrades 8 global banks...

Crisis 'poses military risk'...
IMF chief warns over 1930s-style threats...

French leaders launch outspoken public attacks on Britain...
PAPER: Obama's Watergate...

SHE CAN'T WAIT: MICHELLE TAKES OFF TO HAWAII...
ENTOURAGE OF MILITARY FLEET, LIMOS...
FLASHBACK: Obama exec order seeks to cut unnecessary travel...

RADIOHOST SAVAGE OFFERS NEWT $1M TO GET OUT...
Glenn Beck: I'd consider Ron Paul as third party over Newt...
Gary Busey Endorses Gingrich...

Congress considers bill to censor Internet...
'Free speech kill switch'...
Would 'criminalize' Internet...
'Communist China is model'...
MISSION ACCOMPLISHED: Panetta says 'we're winning' in Afghanistan…[ Riiiiight! Sure … if national insolvency is the goal and standard for victory. How pathetic …  oh yeah, if the americanized increased heroin trade is also a goal and standard; but, only great for the select few war profiteers and not at all anywhere near helping defacto bankrupt america and actually costs more to america / world societies owing to the deleterious effects, consequences, costs of the scourge of this hardcore, addictive narcotic! ]...

Hundreds in Fallujah burn U.S. flag to celebrate troops pulling out of Iraq …[riiiiight! See, they’ve ‘won’ … though defacto bankrupt … including those ‘hearts and minds’; as america’s doing throughout the rest of the Mideast / World … NOT! ]...

Senate Dems kill bill that would have required balanced budget...
THREATEN CHRISTMAS GOV'T SHUTDOWN...
House defies Obama on payroll tax bill...

Paul rips Romney, Gingrich as 'from the same mold'...
AXELROD ON OBAMA, NEWT: 'The higher a monkey climbs on pole, more you can see his butt'...

Dem lawmaker blasts Obama as arrogant, alienating...
MF Corzine back before Congress...

Denies 'misuse' of funds...
Employee: He Knew...
Companies blame unemployment on skills gap...
Lack of qualified workers, not demand, cited...

EURO PLUNGES...
Euro Tumult Shows Netherlands Converging With Germany at Expense of France...

ABC Debate Draws 7.6 Million; Most-Watched of Year...

Obama: 'It Doesn't Really Matter' Who Republicans Nominate … [among the very few things he’s got right though not for the reason he posits!]...

PAPER: Fears persist American jobs crisis cannot be fixed [They call it not fear, but reality!]...
Real unemployment rate at 11%...

Industrialized nations' borrowings to pass $10 trillion for year...
PANIC: BANK RUN IN LATVIA...

Butter shortage in Norway pushes price per pound to nearly $500...
BELIEVE!

TEBOW DAZZLES NATION...
Dowd: We need faith like Tebow's in White House...
UP EURS...

UK eurosceptic press jubilant at veto...

Sarkozy 'snubs' Cameron handshake...
Worries grow over IMF loans...

Average Family Lost $21K in 6 Months Due To Property Values, Stock Market...
Hill staffers tweet of partying, 'idiot boss'...
GOV'T MOTORS LAYS OFF WORKERS...

Lawmakers press Volt's safety...
Corzine 'stunned' cash can't be found...
Lying 'has to do with your state of mind' [ the’ holder view’ that loses hold of reality in those ethereal nether reaches of the mind that precludes rationality’- nothing to see here says he, it’s all in his mind … riiiiight! ]  ...
Hundreds of NASA moon rocks missing! [ Yeah … the clearly petrified wood ones … fewer pieces of clear evidence that THEY NEVER SET FOOT ON THE MOON! http://www.freerepublic.com/focus/f-chat/2325971/posts  (you know … from all those trees on the moon … from waving too hard in the breeze on the windy -NOT,no atmosphere- moon like the american flag in the fake footage … what frauds!)   ]
Astronauts' tracks, trash seen in new moon photos [ The easiest thing in the world to contrive (don’t forget they can with some precision today send robotics to ie., mars, etc.) and doctor so don’t be taken in by their fraudulent b***s***! They’re probably desperately looking for some money / budgetary consideration for their continued boondoggles. No man has ever set foot on the moon to date. As NASA transitions, U.S. space politics in a state of flux  (Washington Post) [ U.S. space politics? I didn’t know there was such a thing. But I, and I’m sure all know that ‘u.s. politics are spaced’. Flux? One could only hope. I’d say, ‘fleeced’; as in we’ve all been fleeced.  Sterner: 5 myths about NASA   (Washington Post) [ If you can’t get past the first myth; viz., that they actually set foot on the moon, the other 5 so-called myths become irrelevant. Indeed, post-Eisenhower, and certainly post-Kennedy-assassination / coup d’etat, NASA was all military / military industrial complex (moreover, someone knowledgeable about such matters said essentially that in explaining to my surprise the transition to the shuttle program it was said there was greater military application in same). In any event, Russia’s been doing quite a bit of ‘heavy lifting’ vis-à-vis the space station, but not inordinately so. All I can say with certainty is that the universe beyond this solar system is forever protected / insulated. The fact is, they never set foot on the moon; and, in light of the pervasive corruption in and defacto bankruptcy of the nation, their perpetual wars toward making a hell on earth militate against anything but trying to do even just a little bit better (for a start), terrestrially.   NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:   Launch of secret US space ship masks even more secret launch of new weapon    The Militarization of Outer Space: The Pentagon’s “Space Warriors”  Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”      buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ... OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION). NASA's New Asteroid Mission Could Save the Planet  Space.com - 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 don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body. First fake moonwalker blasts Obama's space plan  msnbc.com - 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. http://www.freerepublic.com/focus/f-chat/2325971/posts  ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... http://www.collectspace.com/ubb/Forum14/HTML/000770.html   Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, http://www.usatoday.com/travel/destinations/2009-08-27-rijksmuseum-moon-rock_N.htm ,  ...    http://www.albertpeia.com/moonfraud.htm   In reality it is just a piece of petrified wood ... Another piece of evidence that shows again that apollo program is indeed a fake and a typical american fraud!    http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv   ]
China's Hu urges navy to prepare for combat...
REPORT: NKorea making missile able to hit USA...
EURO 'EXPLOSION'...

German Politician: Downgrade Is American Plot...
MF: Corzine expected to plead the Fifth...
Third congressional panel to subpoena...

Dozens arrested in DC...
PAPER: Fed may give money to IMF to help euro zone...
IN ATHENS, BIDEN JOKES ABOUT BAILING OUT GREECE...
EURO DRAGS GERMANY DOWN
PELOSI: DIRT ON NEWT TO COME...
NEWT: 'Thank Pelosi for early Christmas gift'...
IRAN BRACES FOR WAR...

Mysterious blasts, slayings suggest covert efforts in Iran...
REPORT: Iran Has Missing American Drone...

TRUMP: 'Take the oil![Not surprising from a typical american mobster / thief!]'
REPORT: Bill Clinton collected $50k a month from Corzine's MF GLOBAL...

REPORT: Pedophilia rampant in Hollywood...
'SOLD OUT!'
OBAMA: 'I'm going to need another term to finish the job ( of ‘no-change-change’ - in his dreams )'...
OCCUPIERS TURN ON OBAMA
OBAMA LAWYERS: Americans legitimate targets in war on terror...
Only executive branch, not courts, decides...

OBAMA COMPARED TO HITLER, STALIN IN NEW GUN COMPANY AD...
THE (SLIMY) NEWT TO MEET THE (MOBSTER) DONALD...

(VO)
MITT COURTS (WAR CRIMINAL/INCOMPETENT) GEORGE H.W. BUSH...
Ron Paul Hits Gingrich for Hypocrisy…[Indeed! In fact, Ron Paul, if not the nominee should run as 3rd Party / Independent Presidential Candidate! It’s time for pervasively corrupt, defacto bankrupt america to get off the same well-worn path of ineluctable decline and failure! ]...
DoJ makes 'rare exception' to explain deception...

Withdraws inaccurate letter it sent to Congress...
Docs raise more questions about Fast & Furious...
Issa says Holder ouster is up to White House...
FRIDAY NIGHT DOCUMENT DUMP
OBAMA OFF TO HAWAII FOR 17-DAY VACAY...
HO HO HO: UNEMPLOY RATE 8.6%...

315,000 Americans leave work force...
YESTERDAY: Jobless claims top 400K...

House Ethics Committee extends probe into Rep. Jesse Jackson Jr....

Romney visits former President George H.W. Bush [ How totally pathetic! How desperately pathetic romney the flip-flop is! ]

TWIN 'PLAYBOY' PLAYMATES: OBAMA ABANDONED THE HORSES...     Horses could soon be slaughtered for meat in US Horses could soon be butchered in the U.S. for human consumption after Congress quietly lifted a 5-year-old ban on funding horse meat inspections, and activists say slaughterhouses could be up and running...{ Another ‘bullish’ sign for pervasively corrupt, defacto bankrupt America. ‘Soylent green’ just around the corner? [Things are looking very, very ominous: A good business for a bad economy Firms that keep foreclosed homes clean and secure are flourishing in these tough financial times.  (Washington Post) [ See … there you go … great times for the american optimist … who sees an opportunity in every calamity, the rainbow beyond every cloud, the glass half-full, etc.. Whew, close call … and we thought times were tough … and just when we thought everything’s now comin’ up roses, we find out that that ‘glue factory’ we thought was for horses is really a ‘soylent green’ (of the compelling film of the same name) factory. Ah, just kidding; but, the times are getting eerily sordid and desperate and there’ll be no real relief from the onslaught of reality prospectively. It’s really that bad in futuro. 43,454,601,693,238 Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock  Zero Hedge October 17, 2011 http://www.economist.com/content/global_debt_clock  

FED GOOSES MARKETS...
TEAMS UP WITH CENTRAL BANKS...
MERELY 'BUYS TIME' FOR EUROZONE...

RON PAUL SLASHES NEWT...

PENN STATE SUIT ALLEGES MORE THAN 100 INSTANCES OF ABUSE...
Latest accuser says Sandusky threatened to hurt boy's family if he reported...
University purchases .xxx Internet domains to block usage by the porn industry...
As Home Prices Sink, Home Ownership Heads to New Lows...

AMR/american airlines BANKRUPT...
Stock drops 85% to 20 cents a share...

BUSINESSES PLAN FOR END OF EURO...
Eurozone Looks to IMF For Rescue...
Finance Ministers Turn to Radical Ideas...
Approve $11 Billion Loan For Greece...

Store Santas taught to size up parents' wealth, manage children's gift expectations…[Yeah, there’s nothing quite like the psychoanalytical / economic / financial abilities of store santas – america’s so pathetic! ] ...

Germany told it must act to save Europe…[ Who’s goin’ to save Germany? ]...
Impassioned plea for continent to avoid 'apocalypse'...
Warned of 'highly devastating outcomes'...
Just days until collapse?
Deadly NATO airstrikes 'lasted over an hour'...

US image in Pakistan 'worst ever'...
NYT: Obama campaign set to abandon white working class…[Yeah … in favor of, ie., those drugged up ‘workers’ in detroit who were recently exposed in a mainstream investigative report and typifiy the why, along with costs, that jobs have left u.s., etc.]...
Troubled Maxine Waters set to take over on powerful committee...

PAKISTAN: 24 troops killed in NATO helicopter attack...
RETALIATE: Pak shuts routes into Afghanistan...
Orders drone base closed...
PAKISTAN CUTS US SUPPLY LINES

Burn effigy of Obama...
ULTIMATUM: GET OUT...
NATO braces for reprisals...
AFGHANS: They fired at us...
PAKISTAN ENRAGED
Britain draws up emergency plans for collapse of Euro...
IMF drafting $800 billion bailout plan for Italy, Spain...
REPORT: FRANCE, GERMANY PREPARE TO TAKE DRASTIC MEASURES...
NYT: Time runs short...

Banks brace for breakup of euro...
Cornel West: Ultimate Fight For Entitlements Will Be In 'The Streets'...

RIOTS WARNED...
BLACK AND BLUE FRIDAY… [Come on! These so-called ‘record sales’ a function of greater numbers of store ‘early opening’ desperation, discounting, credit card spending despite falling income, etc., hype and then there’s the hangover as in previous / ongoing crisis to come. ] ...
Woman pepper sprays other Black Friday shoppers 'to gain an upper hand'...
'Girls Punching Each Other' Over Yoga Pants Sale at Victoria's Secret...
VIDEO: Mayhem over $2 waffle maker...
NC police use pepper spray to break up melee...

Obama hits the links again... [Itchin’ for permanent vacation!]
Shoots hoops, takes in a game...

Medvedev Warns: Russia may target US missile sites...

INVESTORS SHUN GERMAN BOND SALE...
Euro on 'Death Watch'...
Black Friday Spending Flat...

Obama hits the links again...
NO THANKS! WORST SINCE 1932

IRAN CLAIMS ARREST OF 12 CIA AGENTS

U.S. ranks 25th in life expectancy -- lower than Chile and Greece...
WALL STREET SERVES MORE TURKEY…[Actually, it’s their fraud and b***s*** catching up with reality]...

MESS SPREADS TO BERLIN...

NATO airstrike kills 6 children in Afghanistan...

Triple bombings in Iraq kill 19...
'Vigilantes' on the prowl...

REPORT: Latest Sandusky accuser a family member...
DEBATE NUMBER 11...

Sparks Fly...
Ron Paul: Patriot Act Is 'Unpatriotic'...
ROMNEY PROMISES FIRST TRIP AS PRESIDENT WILL BE TO ISRAEL…[romney just gets more and more desperately pathetic!]...
Gingrich: Cutting off gasoline would contain Iran...
Contenders square off on immigration...
WIRE WRAP...
PAUL'S TIME TO RISE!?

Obama pal Rezko gets 10 years in jail...
NASCAR Crowd Boos Michelle..
[Never a previous fan (that round and round and round– but I do like the flats in horse-racing - Go Big Red {‘Secretariat’, a terrific film} ), I think I’m going to change my mind in light of the fans’ display of good taste!]
White House plans celebration of 'country music'...

Gingrich to Occupy Wall St: 'Go get job right after you take a bath'...[National response to slimy newt: go get a real job right after you take a bath]

Israel; 'Time has come' to act on Iran... [Time for the world to act on illegal nuke totin’, war crimes nation israel]
Iran conducts 4-day air defense drill...
Israel shuts down dovish radio station...
TRUMP(Mobster in Chief?): I MIGHT STILL RUN (In his Dreams – Those Fuher Hitler tapes he ‘religiously’ listened to have inspired him)!

Releases financial disclosure statement...
SUPERFAILURE

Slimy newt says: I'm the best b***s***artist...
WIRE: Ron Paul gaining traction...
NEWT: I'm no Bill Clinton …[Yeah, hypocrite, he’s worse, that very slimy newt] ...
Looking for budget cuts, Congress bickers over what 'defense' means...

European missile defense shield on the chopping block...

Police clash with protesters in Tahrir Square over military rule...
ARAB FALL: PROTESTS RAGE IN CAIRO...
HERE WE GO AGAIN: Britain in secret talks with Syrian 'rebels'...

Clinton says there could be civil war...
Russia warships to enter Syria waters...

MORE PAIN IN SPAIN...

LAWSUIT: Man fired for not wearing '666' sticker at work…[He should be reinstated and receive damages!]...
IT TURNS BLOODY...

Fury At Sinking Economies Drives Global Demos...

GE filed 57k-page tax return; paid no taxes on $14b in profits...

SHOCK POLL IOWA: GINGRICH 32% ROMNEY 19% CAIN 13%… { How pathetic and downright stupid americans have become. gingrich is as big a b***s*** artist as wobama and similarly has a scandal-ridden track record of failure, including that inside ‘money for nothing’ deal with taxpayer drain freddy’s fannie! But again, that’s no endorsement of anyone else. What a totally lost in failure nation america’s become. }...
Sandusky interview prompts long-ago victims to contact lawyer...

STUDY: Middle-class areas shrinking...
Banks in USA Facing 'Serious Risk' on Contagion From Europe...

USA DEBT JUMPS TO $15 TRILLION...
Fed Now Largest Holder, Surpassing China...
Challenge to dollar's dominance 'within decade'...
OIL STARTS NEW SPIKE....

$102...
CNN POLL: Whites give president thumbs DOWN 61%-36%; Non-White thumbs UP 67%-32%...[Oh come on. Let’s get real here. Despite his blatant failure, ‘wobama the b for b***s***’ will still get 99.99 percent of the black vote. Forget them!]
Penn State coach says he stopped shower assault...
‘…McQueary was placed on administrative leave last week after Penn State officials said he had received threats. According to the grand jury report, the graduate assistant said he saw a boy, whose age he estimated at 10 years old, "being subjected to anal intercourse" by a naked Sandusky (according to u.s. forum posts sandusky is a polish jew whose mother’s maiden name is fittingly ‘gross’ www.topix.com/forum/us/TM9KO1A74D6VPVFS7   ) in a shower at the Penn State football building in March 2002…’
Paterno in line for $554,000 annual pension...
SANDUSKY ADMITS TO SHOWERING...

NYT: 10 more accusers come forward...
SHOCK: Teacher Arrested For Masturbating Behind Podium During Class...[inherently criminal, mentally ill americans are perverse degenerates]
Trend forecaster Gerald Celente's gold account emptied by MF GLOBAL...

'2 Bad Corzine didn't die in his car accident!'
ANGRY CUSTOMERS...
Saudi prince warns against any attack on Iran...

REPORT: Iran poised to choke oil supplies if hit by Israel...
Ready to help Turkey with nuclear plant...
Oil price again flirting with $100...
Post office near default? [So what! Let UPS take over the poorly  managed, unreliable usps.]… Losses mount to $5.1B...

OBAMACARE TO SUPREMES...
5 1/2 HOURS: High Court to Rule on Obama's mandate...
26 States Want Entire Law Struck Down...
Decision 4 Months Before Election Day...
Justice Kagan called to recuse herself...
DAN RATHER: '(gingrich) Dangerous as a wounded wolverine'...
Obama: America's 'Been A Little Bit Lazy'…[like their vacation-prone potus]...

SOME DEMS REFUSE TO BACK OBAMA...
Bachmann Campaign Accuses CBSNEWS of Bias...
Ron Paul Gets 89 Seconds To Speak In CBS Debate Paul Joseph Watson | Leaked email to Bachmann campaign indicates decision to limit air time for certain candidates was deliberate CBS News policy. [ It’s really quite amazing that retreads, such as the already failed, scandal-ridden slimy newt gingrich (much of america’s current failure had it’s genesis in policies initiated / supported by gingrich; ie., protection from RICO liability for the frauds on wall street, etc.) based on his mere adherence to that which is required of the ‘israeli amen corner’ on capital hill (as pointed out by the perspicacious Pat Buchanan), despite bringing america down thereby, is the shibboleth by which all candidates are being measured. Quite amazingly self-defeating, destructive, and self-destructive for america particularly and the world generally. That’s why cbs is cbs (for cb***s***). Given america’s intractable decline, it’s really quite amazing. But, as we’ve seen, pervasively corrupt, defacto bankrupt america is now fatally beyond shame. Nothing succeeds quite like failure in america; where crime pays and pays well. ]

CHICAGOLAND: Thug punches out older man on train platform... http://www.nbcchicago.com/news/local/Teen-Punching-Man-at-CTA-Stop-Caught-on-Tape-133703583.html?dr [ Typical niggers! Crowd Laughs, Taunts: 'He knocked his ass out!'  ]
UPDATE: PENTAGON WARNED TROOP REMAINS BEING DUMPED IN LANDFILL...

PANETTA CAUGHT FLAT-FOOTED AGAIN...
ABRAMOFF: Congress Members Took Part in Insider Trading...
'THROW THEM ALL OUT'...
CHINA MOCKS US POLITICAL MODEL... { While otherwise agreeing owing to america’s pervasive corruption and defacto bankruptcy and my direct and continuing experience concerning same [ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  ,   http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm   ] , in light of china’s communist form of government which is total b*** s***, I’m compelled to say it’s american greed, corruption, and policy errors ‘that’s made china’ in light of their ‘sweat-shop, jailhouse, excessively cheap prison labor’ which is the primary reason for their economic success, coupled with a more rational approach to geopolitics as compared with their irrational, inherently criminal american counterparts. I’d also add to China’s credit that their work force is far more diligent and reliable than that of america where ‘make shift jobs’ are viewed an entitlement to a now ‘make-shift people’, however uneconomic. It’s the pervasive corruption, really, in america, which in China is dealt with harshly, but in america, is rewarded substantially. Crime pays and pays well in america, and is protected by even more crime (bribery, quid pro quo, etc.) among mob (including government) groups, which encourages even more crime (the highest crime rates by far in the world). That pervasively corrupt, defacto bankrupt america is a failed nation requires no clairvoyant prescience to discern. China’s mocking of america is well-deserved and comports with reality. Quite simply, america’s done! That’s reality! }

Thrill-Kills in Afghanistan … [ Now you know why ‘no immunity for crimes / war crimes’ was a deal-breaker for america in Iraq! ]...

'David Axelrod's pattern of sexual misbehavior'...
Panetta Warns Defense Cuts Could Lead to Attack on USA [ Typical incompetent guinea from … california … wow! Look at the pelosi/panetta/boxer/feinstein once great state of california now … horrendous, but substantially better than those corrupt guinea/mafia strongholds new york/new jersey (italian dog-pack mentality). Haven’t their tenures coincided with america’s/california’s decline, with wobama the jive-talking race-card black the coup de gras? america’s defacto bankrupt and all that that entails and the concern should realistically be not attack from without but rather coast to coast from within. The military industrial complex and war profiteers have benefited exorbitantly with the likes of panetta and his ilk; yet the likes of this incompetent boob would have never found a place in the administration of the great but substantially underrated President General Eisenhower, a man of honor and integrity! ( And the last legitimately elected president since the JFK assassination/coup d’etat! ) ] ...
FANNIE MAE taps $7.8 billion more from Treasury, loss widens...
60 MINUTES Expected to Air Investigation of Pelosi Stock Investments...
MILITARY DUMPED REMAINS OF DEAD SERVICEMEN -- IN LANDFILL… [ pervasively corrupt, defacto bankrupt america’s a nation without honor – they’ll use and abuse you, even post mortem ] ...
Alabama county seeks to file biggest municipal bankruptcy...
THE BIG BREAKUP...

Merkel Calls for 'New Europe'...
STOCKS PLUNGE ON FEAR...
Italy's Woes Signal 'Dangerous Phase' in Crisis...
'Contagion Spreading; They've Got to Stop This'...
Greek Unity Deal in Disarray...
THE FALL OF BERLUSCONI...

Humiliated in parliamentary vote...
French ready for pain as debt reality bites...
Victims Double In Penn State Case...
...Boys Raped In Showers
Car of Republican Philly Mayor Candidate Vandalized -- for the 10th Time! [ The ‘city of brotherly love’ that loves the bros! I was recruited by Temple University, but not seriously from my own perspective, infra; but, I had never seen a college wrestling match, so I went along as invited. When we came out from the match, the quiffy spike israel’s ‘little buddy’ jimmy fiore’s car was ‘sitting’ on its rims, all four tires stolen, etc.. --- On Wed, 11/18/09, ethan lichtblau <[email protected]> wrote:
From: ethan lichtblau <[email protected]>
Subject: Your NYU Wrestling Experience
To: [email protected]
Date: Wednesday, November 18, 2009, 11:39 AM

Hi Al,
 
I know of you from my old wrestling coach, Ron Pollack.  I know that you wrestled at NYU, and that you won the Met Championships.  I am writing a book about my own experiences in wrestling, judo, and ju jitsu.  I wrestled in the Met championships in 1984 when they were held at NYU, and I remember seeing an old newspaper article they had on display that talked about you winning the Mets in '72 or '73.  You beat Pollack in the finals.  Pollack's coach was quoted in the article as saying that Ron "gassed out", I'm assuming from nerves.  I am really interested in the phenomenon of "choking" in a sports event due to being nervous.  I was wondering if you had any memories you could share about this particular match?  I know it was a long time ago, but if you do remember anything I would appreciate whatever you could share.
 
Regards,
 
Ethan Lichtblau

Date: Wed, 18 Nov 2009 22:50:55 -0800
From: [email protected]
Subject: Re: Your NYU Wrestling Experience
To: [email protected]

Hello Ethan:

The mother of one of our team mates worked with Ron Pollack's dad who kept telling her how badly Ron Pollack was going to beat me (some others played him up saying he consistently beat his team mate stu pruzansky by substantial margins and other such things). In fact, he took an early lead with a take-down that he was quite good at and I was looking for (something between a firemans' carry and a barrel role)[1972]. However, by the end of the match, he was quite haggard, in tears, and I actually had to hold him up on the podium. My tougher match was the semi's where I met two-time defending Met Champion Ed Rufrano (he got a special trophy for scoring the most team points over a period of time). He was quite strong and although I won, I had slipped a cervical disk (for which I ultimately needed traction - I couldn't even do a push-up after a couple of days which is very humbling when one relies so much on will-power). I had also beaten Ron in the finals of the Freshman Met Tournament. I was injured by the end of the season in the two prior intervening years (interestingly, the neurologist for the herniated disk pointed out that my bones were relatively small compared to my musculature/body-mass). I was fortunate to have a great coach in Roger Saunders (Roger and his brother Richard, a former CIA Agent/Mechanic, were both National Champions). I couldn't imagine Roger saying one of his wrestlers "gassed out", even if true. Ron certainly didn't "choke" in the first period, if at all.


Regards,


Al Peia

______

From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Thursday, November 19, 2009, 2:07 PM

I really appreciate your insights about this.  I never got a chance to speak to Ron about his own college wrestling days.  I only knew him when I was in  high school, where he was coaching a bunch of local high school wrestlers on a part time basis.  He was also helping out at his alma mater
(?FDU) assisting a guy he used to refer to as "Metz" or "Metzy".  By then he was a fairly un-assuming guy and never even told me that he had taken a 2nd at the Mets when he was in college.  By the time I went off to NYU Ron had left town to go to chiropractic school, and I don't think we ever saw each other again.
 
I now remember what struck me so much about that article that was posted at NYU.  It was accompanied by a picture of three guys on the podium.  You were holding Ron up and he was crying.  It's really a classic picture, even more so because unless you know the "back" story you can only imagine what is going on in the wrestler's heads at the moment the shot was taken. I saw this picture once about 25 years ago and it still sticks in my head.  I was wondering if you could clarify:  I am assuming your coach was named Saunders.  He wasn't the one who spoke of gassing out.  Like I said above, I thought Ron was coached at FDU by a guy he used to refer to as "Metz".  It was either Ron's coach (whoever he might have been) or perhaps Ron himself that stated in the article that Ron had "gassed out".  I also remember now that there was some suggestion that he had come down with a flu, which might explain his reaching a state of exhaustion by the end of the match.  Or perhaps you just kicked his ass in in the last 2 periods.
 
Speaking of Stu Pruzanski,  I never met him , but I knew his brother Dave a bit.  Dave owned a gym in the early '80's and our Judo club used to work out there for a while.  This was another guy who never really told you much about himself.  I only found out years later that he once wrestled Gable to a tie.  He was also the only guy to ever win US National championships in Judo, wrestling, and Sombo, all in the same year.  (?1972).  Years later, maybe 1985 or so, he decided to make a comeback in Judo.  He cut a shit load of weight and ended up fighting me in the finals of a small regional tournament.  I beat him by decision, but really got no satisfaction out of beating a guy who was so out of shape.  Can't remember if this was before or after one of his kids committed suicide.
 
Ethan
 


 

Date: Thu, 19 Nov 2009 23:49:19 -0800
From: [email protected]
Subject: RE: Your NYU Wrestling Experience
To: [email protected]

Roger Saunders was my coach at NYU and clearly, a great one at that, who subsequently went to Bloomsburg where he was ultimately Athletic Director on last info. Bob Metz had quite a few winning teams at FDU, but he was not Saunders whose brother's wrestling success I alluded to so as to emphasize his wrestling prowess as no fluke. The last I heard of Dave Pruzansky he was diving out of a window of his house to evade police who had busted his drug-dealing operation. As a wrestler he was no joke and you did well to beat him and are too modest. I included reference to pruzansky because they developed a very curious, bizarre, and almost gang-like mentality within their "wrestling click". Upon information, many (if not all) of their clique "amped up" on amphetamines before their matches. Very close to their clique was the very weird and corrupt ref spike israel. The very quiffy spike israel had a "little buddy" jim fiore and had recruited David and his little buddy (among others) to Temple University to which he had some connection, and actually attempted to recruit me to same. I didn't take him seriously; firstly, because he told everyone he had been a state champ (bull s**t); secondly, because he had screwed me in a high school match wherein I had pinned leonard pruzanzky in the first period (I had him on his back almost the entire first period and israel gave me no back points, 2 or 3 for near fall, let alone the pin, and just the takedown and I lost by a point on riding time-leg ride). In an open tournament (I think Stroudsburg?), I was looking at the seedings/pairings/chart and David came up behind me pointed to my entry and said to the guy he was with that I had beaten his brother leonard. Roger required our team during one Christmas break to compete in my first and only free-style tournament. I was up two weight classes and David won quite handily. That was the third time I had beaten Ron and frankly, I did grind him into the mat and kick his ass for the late balance of the first period and the remainder of the match.

 

The following is a reply on facebook to someone who said I beat him in wrestle-off and

completes my wrestling story.

Good luck to you in all your endeavors.

Regards,

Al Peia

Howard:

Thank you for your gracious and overly humble comment. Over time, such things become less and less important and I can't say that I actually recall that, per se. As we both know, wrestling was never a pleasant undertaking and although I respect(ed) the sport, I made it a point never to set foot on a mat off season. You may also find it somewhat ironic that I actually had made the basketball team (Hubie Brown for whom I had high regard was varsity coach and Richie Szura the J.V. coach), which sport I enjoyed; and in a meeting arranged by Dan Deluca (I had won a tournament in junior high and the match against the rival Thomas Jefferson Junior High) with Coach Szura wherein Szura nicely but candidly told me that although I had made the team, "that I wasn't the tallest of angels" (which I thought was very funny and we all laughed) and essentially I'd be warming the bench while Deluca guaranteed me a varsity letter for wrestling the easy matches since varsity wrestler Richard Zocco was having difficulty making weight (he never made weight). As trite and cliched as it sounds, it was the varsity letter guarantee that sealed the deal (and in my mind, the prospective "help with the babes therefrom" - actually, it was only the pretty sophomores with whom it ultimately paid dividends so to speak - how very high school). I had a great Coach in Roger Sanders who recruited me to NYU (Roger and his brother Richard, a CIA agent/mechanic, were both national champions). Wrestling has always been an important learning experience for me. Such a kind and humble remark as yours deserved a greater explanation.

Al
                                                                                             ______

From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Monday, November 23, 2009, 5:30 AM

Truly, thanks for all your info.  Interesting that you should mention Spike Israel.  I am assuming that the word "quiffy" is code for "gay".  Spike was coach at Tenafly High when I was in high school, and was known to "like boys".  Apparently he taught the Tenafly guys only one move, the Granby roll, which they were all quite good at, but very little else.  Besides Ron in the early '70's and Steve and Dave Yale in the later '70's Tenafly basically had no decent wrestlers during that period.  Not really sure if this was a coaching issue or recruiting issue.  Our high school (DMHS in Englewood) had former state champ Bob Hurley (Bergenfield) as our assistant coach and former state runner up Reggie Williams (Hackensack) as head coach, and we also fielded very few good wrestlers during those years.
 
Ethan


--- On Thu, 11/19/09, ethan lichtblau <[email protected]> wrote:


From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Thursday, November 19, 2009, 2:07 PM

I really appreciate your insights about this.  I never got a chance to speak to Ron about his own college wrestling days.  I only knew him when I was in  high school, where he was coaching a bunch of local high school wrestlers on a part time basis.  He was also helping out at his alma mater
(?FDU) assisting a guy he used to refer to as "Metz" or "Metzy".  By then he was a fairly un-assuming guy and never even told me that he had taken a 2nd at the Mets when he was in college.  By the time I went off to NYU Ron had left town to go to chiropractic school, and I don't think we ever saw each other again.
 
I now remember what struck me so much about that article that was posted at NYU.  It was accompanied by a picture of three guys on the podium.  You were holding Ron up and he was crying.  It's really a classic picture, even more so because unless you know the "back" story you can only imagine what is going on in the wrestler's heads at the moment the shot was taken. I saw this picture once about 25 years ago and it still sticks in my head.  I was wondering if you could clarify:  I am assuming your coach was named Saunders.  He wasn't the one who spoke of gassing out.  Like I said above, I thought Ron was coached at FDU by a guy he used to refer to as "Metz".  It was either Ron's coach (whoever he might have been) or perhaps Ron himself that stated in the article that Ron had "gassed out".  I also remember now that there was some suggestion that he had come down with a flu, which might explain his reaching a state of exhaustion by the end of the match.  Or perhaps you just kicked his ass in in the last 2 periods.
 
Speaking of Stu Pruzanski,  I never met him , but I knew his brother Dave a bit.  Dave owned a gym in the early '80's and our Judo club used to work out there for a while.  This was another guy who never really told you much about himself.  I only found out years later that he once wrestled Gable to a tie.  He was also the only guy to ever win US National championships in Judo, wrestling, and Sombo, all in the same year.  (?1972).  Years later, maybe 1985 or so, he decided to make a comeback in Judo.  He cut a shit load of weight and ended up fighting me in the finals of a small regional tournament.  I beat him by decision, but really got no satisfaction out of beating a guy who was so out of shape.  Can't remember if this was before or after one of his kids committed suicide.
 
Ethan

Ethan:

"As a wrestler he was no joke and you did well to beat him and are too modest."
To reiterate: you are far too modest!

 Good luck to you in all your endeavors.

 Regards,

Al Peia

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[ To be president of the now disunited states like no time since the civil war, one really must want to be president. Governing new jersey is probably the easiest political position in the world inasmuch as the same is totally controlled. New york is a close second to jersey in those terms, complicated only by the arrival, politically like never before, of the wall street frauds (the fraudulent goldman era, beginning more serious than ever politicking with rubin, paulson, etc., probably owing to their far larger frauds for which they needed ‘protection’ in the form of ‘political muscle’ – which they got.). The gangs of jersey, new york have a history that’s endured in terms of impact longer than the political parties themselves; proximity to and control of the local vote multiplied many times by the controlled localities ‘they serve’. In jersey, you can’t get elected without the mob; in some areas the mob controlling both parties. [ brendan byrne, who brought the final take-over / scourge / quid pro quo, viz., the casinos, james florio, mario cuomo (progeny andy cuomo), etc., had publically known mob ties. Less conspicuous would be the likes of old money play-along tom kean, whose desperation to breathe life into the moribund political career of his son is evident to all; including his cover-up report on the 911 incident which was probably the worst of its kind since that other non-jurist, politician / former governor of California warren report / cover-up of the coup d’etat / JFK assassination. Just who are these so-called ‘conservatives’ holding back funding while urging jersey christie’s run ‘for the gold’. No … I couldn’t care less about his girth, the goodyear blimp / humpty dumpty jokes, etc.. Yet, one has to wonder why a prior decision, given even further consideration upon God knows who’s self-interested prompting, is suddenly firm today yet malleable tomorrow. Forbes, (and hannity I suspect), of jersey himself (themselves) seems close to this yet one still must wonder ‘what the deal is’. More importantly, for jersey (n.y.) candidates, ‘with whom’. That wobama, as a black man realistically / potentially viewed as the ultimate outsider, would make promises that got him elected, yet renege on nearly all of same is a testament to how totally controlled these gutless politicians are and proving how such lack of courage spells not only their own unequivocal failure (wobama as bush failure 3, et als), but certainly for that of the nation as well ( Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.’THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv  ). Quite simply, there is really no good reason why a jersey politician should change his mind about something that should be at one with the person himself. After all, we all must at least assume jersey governor Christie is a man of reason who previously made an unequivocal, publically announced, widely covered decision for what must be assumed a good reason. ]
FORBES: CHRISTIE DECISION WITHIN 72 HOURS...

CLASH ON BROOKLYN BRIDGE...
More than 700 arrested in 'Wall St' protest...
Dozens cuffed in Boston after targeting BANK OF AMERICA...
Protests spread across USA...
Los Angeles...
Chicago...
Denver...
Seattle...
Greece to Miss Deficit Targets Despite Austerity...
'Leaders are pushing the world into Depression'...

Al Sharpton's office admits handing out possibly bogus stimulus check forms...

Iran Supreme Leader: Palestinian UN statehood bid doomed to fail...
Hamas: 'Resistance' against Israel is only option left...
STOCKS SUCK...
Wall St. ends rotten quarter in sour mood...
Dow Notches 12% Drop...
No Rise in Home Prices 'until 2020'...
Feds: SOLYNDRA Won't Reveal Contracts, Customers or Exec Bonuseslt (typical american boondoggle) ...
DOE pushing ahead with $5b more in solar loans (another american boondoggle) ...
Strikes hamper Greek rescue effort...
Sarkozy, Merkel to Meet...
$200K Per Job? Geithner Says White House Plan Still Bargain … [ Riiiiight! .. In what alternate reality beyond political desperation mode? ] ...
GERMANY SLAMS 'STUPID' US PLAN FOR EURO...
CHAOS: THOUSANDS LINE UP IN PHILLY FOR FOOD STAMPS...
Protester calls Obama 'Anti-Christ'...
Fundraising plunges...
'Titanic struggle' for re-election...{  Axelrod: Obama faces 'titanic struggle' [ Yes indeed! A titanic struggle for control of the Titanic, the USS Titanic, sinking from its own  weight of pervasive corruption, defacto bankruptcy, and fatal, immutable structural flaws! ] }
CA CITY HAS 32.4% UNEMPLOYMENT RATE!
POLL: Paul beats Obama 51-49...
COPS: Mob of girls charge house after high school fight; 2-year-old girl shot...
DEM GOV. CALLS FOR 'SUSPENDING ELECTIONS' … [ the wobamanoid plan … for even greater nation-breakin’ disaster! ]...
Former Obama budget director: 'We need less democracy' to 'counter gridlock' [ How desperate, these wobamanoids… How pathetic! ] ...
Split over Greek bail-out terms...
NOW IMF NEEDS BAILOUT!
PUTIN FOR LIFE...
Police in Moscow raid bank of political opponent...
Finance chief rebels...
Merkel: Greek default would destroy faith in Europe...
French left seizes Senate majority, hurts Sarkozy...
Plan B: Flood markets...
S&P: Larger Fund Could Weigh on Ratings...
SIX WEEKS TO SAVE THE EURO...
IMF to increase resources to more than $1 trillion...
Wall Street protesters pepper-sprayed, cuffed...
90 arrested...
VIDEO: Wild scene...
Catalonia's last bullfight … [How wise, and nothing less than what one would expect from the place that has given rise to among the greatest artists in the history of this world.] ...
PAYBACK [ Retaliation ]: S&P Could Face Legal Action From SEC Over Ratings...
SUMMER SALE: Dow plunges 391 points...
Global markets tumble 4%...
ZOELLICK: 'World in danger zone'...
SOROS: USA already in double-dip...
Abbas moves for statehood...
'We shall not recognize a Jewish state'...
NETANAYAHU is a 'Theater of the absurd'...
Calls UN 'House Of Lies'...
CLASHES IN WEST BANK...
LIVE...
Pakistan warns US: 'You will lose an ally'...
SHUTDOWN: Harry Reid kills bill to keep gov't running...
Postpones disaster relief vote...
...for Dem party, fundraiser at island retreat!
BLOW: Obama fundraiser got $107m in federal tax credits for wind power...
Credit stress 'reaches pre-LEHMAN danger levels'...
BAD BLOOD: Bill Clinton: Netanyahu killed peace process...
GLOBAL SYSTEM UNDER PRESSURE...
GALLUP: 55% DISTRUST MEDIA...
Palestinians Delay Call for Quick Vote...
State bid 'only alternative to violence'...
UN chief urges Israel 'restraint'...
Obama re-affirms desire for Palestinian state...
Venezuela, Cuba defend Iran...
IMF warns on global financial system...
MOODY'S downgrades three US megabanks...
Man returns with shotgun after TACO BELL worker forgets hot sauce...
IHOP Hires Bouncer To Control The Rowdy...
Approval Among Liberals Hits All-Time Low...
LIBS VOW PRIMARY CHALLENGE AGAINST OBAMA
IMF WARNS: INTO THE DANGER ZONE...
...warns of USA 'lost decade'
USA building secret drone bases in Africa, Arabian Peninsula...
Chavez: Israel committing genocide...
Iran: Israel killing our nuclear scientists...
Palestinian move hits Dem vote base; Republicans woo Jewish electorate...
Israel Floats 'Interim Solution' To Palestinian Statehood Debate … [ Half measures will not do! Too much time, resources have been wasted! Time for the ‘final solution’… the choices: peaceful or non-peaceful; rational or irrational; reasonable or unreasonable! There has been nothing to have changed the reasonable expectations created by secretary of state clinton herself in espousing this administration’s unequivocal position espousing Palestinian statehood! ] ...
REPORT: SOLYNDRA execs to plead Fifth...
HOUSE TO PROBE OBAMA ACTIONS ON GOV'T LOAN...
Second witness says White House tried to steer testimony...

Air Force general claims he was pressured...
WIRELESS: Obama invested in Falcone-funded Co....
FLASHBACK: 'I thought about going to Warren Buffett, and I decided it would be embarrassing I only had $100,000'...
CHICAGO TRIBUNE: Why Obama should withdraw from 2012 race...
Black Caucus chairman: If Obama wasn't president, we would be 'marching on the White House'… [ Which means typically,  reasonably as suspected, the black caucus is racist and without any credibility whatsoever; particularly in their support of wobama, ‘the last negro’ … What an insecure, jive-talking, stereotypical dismal failure wobama’s turned out to be … he’s totally pathetic … he’s proven to be just another of his type who’s gotten by on b***s*** and ‘special understanding / consideration’  his entire life … yes, the last negroe! … wobama’s basically re-running his last and now endless campaign expecting all to believe him this time around … this last negroe! ] ...
OBAMA'S JOBS BILL WON'T BE READY UNTIL NEXT MONTH, AFTER ANOTHER VACATION...
$3 in tax hikes for every $1 in spending cuts...
NEW BOOK TELLS OF DISCORD IN OBAMA ECONOMIC TEAM...
Women 'excluded and ignored'...
REPORT: Rahm threatened to burn down house of statehouse foe...
Protesters hit Wall Street...
'US Day of Rage'...
Cops Lockdown Wall Street From Day of Rage Protesters
$1,500,000,000,000 IN NEW TAXES
GREEK BLEAK...
WREAK...
RETIREE BENEFITS FOR THE MILITARY COULD FACE CUTS...
Fed Expected to Launch New Program as Europe Boils...
Europe digs ever deeper debt hole...
Palestinians demand statehood...
Holy Land clerics bless...
Jewish groups worried by Vatican gesture...
Obama faces awkward dilemma...
NYC security on alert for UN assembly...
Emergency meetings to avert Palestinian crisis...
TURKEY PROPOSES PARTNERSHIP WITH EGYPT...
VETO THAT COULD CHANGE THE WORLD...
Palestinian leader ignores US warnings on UN statehood...
Israel ups West Bank forces...
Anti-Israel subway signs in NYC spark religious war of words...
Geithner warns EU of 'catastrophic risk'...
Europe bristles at lecture...
US could be on hook for bailout… [ Come on! Let’s get real here! Pervasively corrupt, defacto bankrupt america can’t even bail itself out! ] ...
Eurozone possible nightmare scenarios...
NEW 'WAVE OF FORECLOSURES'...
BIG JUMP IN JOBLESS CLAIMS...
INFLATION RISES...
SOLYNDRA among 5 stimulus firms to go under...
Intimidation / Bullying: israel warns of 'harsh' consequences of Palestinian UN bid...
Wobama: ‘GIVE ME A WIN, GIVE ME A BREAK, LOVE ME!'
Cherokee Indians say they can kick blacks out of tribe… [ This should go without saying; after all, while blacks may be u.s. citizens, they’re certainly not Cherokees … let’s get real here – let the u.s. government retroactively honor their many treaty obligations /  violations to the native inhabitants of this land from whom such lands were stolen! ] ...
Geithner: Economy In 'An Early Stage' Of Crisis...
'Hoping for sometime' to get fired...
Dem Rep: Americans don't deserve to keep all of their money...
MOODY'S downgrades 2 French banks...
International alarm over euro zone crisis grows...
Europe's banks staring into abyss...
PLO: Palestinian state to be Jew-free [ Sounds like a Plan … for peace, peace of mind, and prosperity! ] ...
BILLIONS AND BILLIONS: GE to Buy Back Shares From Buffett...
Rumsfeld cancels NYT subscrip over Truthful Krugman piece...
100 protesters burn American flag outside U.S. embassy in London...
Israel facing 'diplomatic tsunami' with Arab neighbors...
Crisis threatens Mideast ties...
US pleas ignored as mob attacked...
Warning of 'orderly default' on Greek debt...
KRUGMAN: Bush, Giuliani 'fake heroes' who cashed in 'on horror'...
BUSH [ Yeah! bush indeed knows all about this because he is evil and lacks courage! ]: 'One of the lessons of 9-11 is that evil is real, and so is courage'...
$447B JOBS BILL: $421B FROM TAXPAYERS...
BILL SHIFTS INCOME CUTOFF DOWN TO $200,000...
JUST $40B COMES FROM OIL, GAS TAXES...
TAB FOR CORP JET OWNERS: $3 BILLION...
Obama to Tout Jobs Act at Donor's Company...
ITALY TURNS TO CHINA FOR BAILOUT
Jordan Abdullah: Israel situation more difficult than ever...  [ Op-ed: israel doesn’t really want peace  http://www.ynetnews.com/articles/0,7340,L-4118832,00.html  ]
Russia supports Palestinian statehood...
U.S. BOOTS ON THE GROUND IN LIBYA...
NOONAN: We'll Never Get Over It...
NYPD launches Its Own Navy, 1,000-Man Army, Tanks...
'Dirty Bomb' Fears...
NBCNEWS TWITTER account hacked, published fake terror alert...
Egyptian protesters pull down Israel embassy wall … [ Congratulations! Well Done! ]  ...
STOCKS SLAMMED...
Obama jobs package fails to lift spirits...
Global slide...
Berlusconi says has 'no power' as Italy crisis bites...
Greek PM to give speech amid hostility...
World Enters 'Dangerous New Phase'...
'Collectively suffering a crisis of confidence'...
FBI raids Obama-backed solar company...
SOLYDRA reps made 20 trips to WH before $500M award...
Fed court tosses out 2 challenges to Obamacare...
Panel of 3 dem-appointed judges, including 2 appointed by Obama...
Afghan journalist killed by US soldier...
ANOTHER $300 BILLION...
'It might not create a single job'...
Makes 'whopper' claim about middle class tax cut...
CARNEY: 'I'm going to shuck and jive'...
TV stations pick football over another Obama jobs speech… [ Indeed they should .. wobama’s total b***s***! ] ...
ACLU to sue over welfare drug testing… [ No constitutional issue here .. Reason? Welfare isn’t a right! Moreover, such a law deters those who would fail such a test from applying which therefore understates the prevalence of the abuse in these difficult fiscal / economic / budgetary times  ]...
California Employment Level Sinks to Record Low ...
Iceland says it was 'bullied' over bank debt...
46 People Shot In NYC Over Holiday Weekend...
Gunfire erupts near Bloomberg in Brooklyn...
7 Killed in Chicagoland...
40% of Europeans 'suffer mental illness'...
Gunman unloads inside IHOP...
9 shot, 3 killed...
2 dead were National Guardsmen in uniform...
NO REAGAN, NO CLINTON...
Another all-time low...
US on wrong track say 75% -- of Californians!
Redford disappointed: 'I'm beginning to wonder just where the man stands' … [ I believe Robert Redford would be a very good and potentially great President! (nothing to do with his position on the environment) ] ...
Stocks Lose for Week as Recession Fears Grow...
Roubini: We Are in 'Worse Situation' Than '08...
More and more Americans call long-stay motels home...
USA: $10 TRILLION IN DEBT…[ Far more than that is the reality ]...
Gov't Battles Copper Thieves...
Miami Proposes 'Task Force' To Combat Thefts...
FAKE CITY WORKER ARRESTED STEALING IRON GRATES...
Power lines in Indiana stripped....
China state paper urges Internet rethink to gag foes...
Obama Calls for Extension of Gas Tax...
Hits all-time low approval among women...
SUMMER BUMMER: Stocks Log Worst August in 10 Years...
Solar company touted by Obama closing -- despite $535 million from feds...
1,100 'green jobs' gone...
POVERTY IN PARADISE: Joblessness in some parts of Vegas exceeds 20%...
RANGE DAYS: 3D head-mount like 'sitting in theater'...
August deadliest month for USA in Afghanistan… [ 66 u.s. soldiers killed ]...
FINAL 'FINAL' BATTLE IN LIBYA...
REBELS GIVE GADDAFI UNTIL SATURDAY TO SURRENDER...

ISRAEL MOVES SHIPS; IRAN MOVES SHIPS
Russia, China wisely, rationally resist U.N. Syria sanctions push...
Ron Paul: Mobs In Europe A Sign Of Things Coming (already here)...
Euro bailout in doubt as 'hysteria' hits Germany...German Chancellor Angela Merkel no longer has enough coalition votes in the Bundestag to secure backing for Europe's revamped rescue machinery, threatening a consitutional crisis in Germany and a fresh eruption of the euro debt saga…’
GALLUP: OBAMA DISAPPROVE HITS ALL-TIME HIGH...
NY economy takes huge hit...
ALARM: CHRISTIE SAYS DAMAGES IN BILLIONS, 'IF NOT IN TENS OF BILLIONS'...
Mental illness rise linked to 'climate change'...
Teen girl paralyzed, 10 others wounded at 'Drama Free' party... ‘A Queens party advertised on Facebook and Twitter as "Drama Free" turned into a shooting gallery early Saturday. Eleven young people were shot, including a teenage girl left paralyzed, when a gunman opened fire into the crowd. About 100 people were packed into the backyard of the single-family home on Inwood St. in South Jamaica shortly before 1 a.m., when the shooter sneaked up a back alleyway and opened fire into the yard through a chain link fence…’ Read more: http://www.nydailynews.com/news/ny_crime/2011/08/28/2011-08-28_11_shot_at_drama_free_qns_party.html#ixzz1WOiqvmx3
China jails Tibetan monk for 11 years...
Gaddafi 'seen in Zimbabwe on Mugabe's private jet'...
BUFFETT BUYS BILLIONS IN BANK...
EARNS $280M -- IN A DAY!
Obama called Oracle of Omaha before big buy...
Buffett to Host Fundraiser...
Fukushima radiation leaks 'equal 168 Hiroshimas'...

New home sales on pace for worst year in history...
NATIONAL DEBT RISES BY $3 MILLION EACH MINUTE...
Obama sets record: $4,247,000,000,000 debt in just 945 days...
STEVE JOBS: iRESIGN
LETTER... [ More than just a ‘Silicon Valley legend’, Steve Jobs literally saved Apple from extinction … I’m truly glad he saved Apple, my first computer (1986 - apple IIc for word processing / data based records / forms / templates / data which I interfaced with an electric typewriter for letter quality) and for that all should be thankful. Apple is the Nasdaq (40% weighting) and quite more, that now was! ] 
YORK: Spending, not entitlements, created huge deficit...
$500,000 federal stimulus grant created 1.72 jobs...
GE cutting more jobs...
FLASHBACK: Moving X-ray business to china...

Strong East Coast quake highly unusual...
DETAILS...
Felt from Toronto to Atlanta...
Epicenter VA...
Felt In Chicago...
Airports Close...
CELLPHONES OUT...
Nuke Plant Shuts Down...
VIDEO: Vacant White House Shakes...
VIDEO: Obama Takes Quake Call on Links...
Stones fall off National Cathedral...
WASHINGTON MONUMENT 'TILTING'?...
HOMELAND SECURITY'S QUAKE ADVICE: DON'T CALL...

5.8 MAG QUAKE ROCKS DC-NYC
SEE YOU IN SEPTEMBER...
Buchanan: The view from Martha's Vineyard... ‘As he and his daughters bicycle around the summer playground of the Northeastern elite, Martha's Vineyard, President Obama is steadily bleeding away both the support of the nation and that of his most loyal constituency. Several times, his approval rating in Gallup's daily tracking poll has sunk to 39 percent, with disapproval reaching 54 percent. Support for his handling of the economy has dipped to the mid-20s. Only 11 percent of Americans, says Gallup, are satisfied with the way things are going. Unemployment remains at 9 percent, as it has for two years. The Dow has lately lost 2,000 points, or $3 trillion in wealth wiped out. All that money the Fed pumped out is now being reflected not only in the price of gold, silver and Swiss francs, but in rising consumer prices – inflation. One in five U.S. children is living in poverty…’
SANTORUM: 'maxine waters is vile' [ she’s worse than that, and a total embarassment for america and california particularly! ] ...
Maxine Waters: 'The tea party can go straight to hell'...
Tea Party fires back...
MORGAN FREEMAN TELLS OBAMA TO 'GET PISSED OFF' [ sounds like a plan … nigger to nigger … the nigger plan! ] ...
Philadelphia extends curfew after flash mobs [ new u.s. Christmas carol – ‘america’s beginning to look a lot like sub-saharan africa, everywhere you go’ . They are beasts of burden at most who are a burden to most at best  … you’ll never change the nigger who evolved only to a point! Think about all those ‘make-work’ jobs for niggers that serve no real economic purpose; ie., federal, state, local, uspostal service, etc.. And, they can’t even do those jobs reliably, efficiently. Niggers are a drag on civilized society! ] ...
Black congresswoman blames black unemployment on 'racism' (riiiiight! The race card … how ‘bout reality) ...
'The real enemy is the Tea Party'...
6 shot at youth b'ball game (black violence in ‘the city that loves brothers’ – Philly)...

'REGIME COMING TO END'
Unit protecting Gadhafi surrenders...
Libyan Rebels 'Capture Son'...
'End of regime in 10 days'...
'1,300 dead' in attack on Tripoli...
NATO racing to wrap up...
UPDATES...
AL JAZEERA LIVE...
NEXT: Syria warns against military intervention...
REVEALED: Wall St Aristocracy Got $1.2 Trillion in Fed's SECRET Loans...

OBUMMER SUMMER: DOW DOWN ANOTHER 400
JOBLESS CLAIMS UP...
Inflation rising fast...
Treasury Yields Fall to Record Lows...
What went wrong with global recovery?
Police scramble to fight flash-mob mayhem...

TROOPS IN AFGHANISTAN 'UNTIL 2024'...
GM says bankruptcy excuses it from repairs...
GOV'T MOTORS stock hits new low...
Dollar Sets New Record Low Against Yen...
Putin Calls USA 'Parasite'...
israeli raid strains ties between Egypt and israel...
Ridley Scott to direct new version of 'BLADE RUNNER'...
NASA REPORT: Aliens may destroy humanity to protect other civilizations … [ Naah! Really don’t have to .. confined to this solar system, by hand of God or man, we’re only talking decades at most  ] ...
APPROVE: (now 39%) 42%
Return of Mass Layoffs a Grim Sign...
MOODY'S Cuts U.S. Growth Outlook...
WALMART warns on US economy weakness...

BELOW 40%
WORST WEAK
Putin sets sights on Eurasian economic union...
Gorbachev: I should have abandoned Communist party earlier...
'MAGICAL MISERY BUS TOUR'...
'Greyhound One'...
Armored Buses Cost $2.2 Million...
BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken in by their b***s***; they’ll ‘back the black’ every time, regardless!  ]

New low of 26% approve of Obama on economy...

Inflation builds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...

OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

Roaming Pack of Thugs Attacks 64-Year-Old Man, Steals His Bible [ Yes, you guessed it! The thugs … they’re niggers! ] ...
Obama: I Reversed Recession Until 'Bad Luck' Hit...

OBAMA'S GREEN PET GOES BANKRUPT...
Got stimulus cash, promised 800 jobs...

Kansas City mulls curfew after racial attacks...
Mayor gets shoved to ground when gunfire erupts...
VIDEO...
Flash mob robs DC-area 7-ELEVEN...
Boy Stabs Girl At Philly Mayor ANTI-VIOLENCE Event...

Detroit Police No Longer Responding To Automated Burglar Alarm Calls...

AP: Ron Paul no longer 'fringe'...
'Shafted' by media...

RON PAUL WEEKEND WINNER IN AMES?

TEEN UNEMPLOYMENT HITS 50% IN DC

CONSUMER CONFIDENCE CRASHES...
Lowest since Jimmy Carter...

APPEALS COURT: OBAMACARE UNCONSTITUTIONAL...
Dem Judge Rules Against Obama's Signature Achievement...
'Unbounded assertion of congressional authority'...

Emergency Decree: Italy Approves Tough Austerity Measures... Developing...
RIOTS BREAK OUT AROUND GLOBE AMID ECONOMIC ANXIETY

Dollar Tumbles on Fed Pledge; Swiss Franc Soars Most Since 1971...

Merkel faces revolt over eurozone deal...

Philadelphia Implements Strict Curfew To Combat Violent Mobs...
MAYOR TO BLACK YOUTH: 'You have damaged your own race'...
OBAMA APPROVE HITS NEW LOWS...
'There is something wrong with our politics'[ Yeah! You, among many others! All those false campaign promises, etc.!  ]   ...

6 YEAR OLDS CAUGHT WORKING ON FARMS...
Thirty-year Treasury yields rise most since 1980s...
CHICAGOLAND: State can no longer afford to bury dead poor...

Feds Called In To Curb 'Wild West' Violence In E. St. Louis...
REPORTS: Olympics ambassador is London rioter!
5 more US troops killed in Afghanistan...

SAVE THE EURO: Sarkozy, Merkel in emergency meeting...

HYPERSONIC PLANE LOST (What was the cost?) ...
REPORT: ENTIRE US STEALTH FLEET GROUNDED...

OBAMA CONSIDERS BECOMING NATIONAL LANDLORD...
Still going on vaca...
Approval: 40%...
Highest approval among Muslims...
WRONG TRACK: 73%...
Obama Marks Ramadan with Iftar dinner...

BANK STOCKS PLUNGE...
MOODY's warns states, local govts...
Treasury sells 10-year notes at record low rate...

SONY 'CLASSIFIED' BIN LADEN MOVIE;
WHITE HOUSE REJECTS FAVORS CLAIM

UK locks down as nights of unrest spread...
Manchester riots on scale not seen in 30 years...
Rioters rob people on street, force them to strip naked...
DOW -634...
CURSED: S&P falls 6.66%
IT TANKED AS HE TALKED...
BARACKALYPSE NOW

CHINA: Dollar to Be 'Discarded' by World...
Lectures How 'Good Old Days' of Borrowing Have Ended...
NOW BUFFETT DOWNGRADED!
Tel Aviv stocks fall 7% after USA debt downgrade...
Nikkei drops 2%...
Wall St braces...
European leaders scramble to calm investors...
S&P: 1 in 3 chance USA will fall ANOTHER notch!
Recession without shock absorbers...
Gold soars above $1,700...
PRE-MARKETS... DEVELOPING...
BLOODY WEEKEND

USA DOWNGRADED: FIRST CREDIT RATING CUT IN NATION'S HISTORY...
DETAILS [.PDF FILE]...
DEMOCRATS CALL FOR HIGHER TAXES...

CHINA: 'Good old days' of borrowing are over...

LONDON BURNS...
...the underclass lashes out
Violence continues...
Rioting spreads beyond capital...
DAY 3...

Riot Hits London After Police Shooting...
...shops looted
RAMPAGE...
Fears of more...
DOWNGRADED!
DETAILS [.PDF FILE]
FLASHBACK: 'No risk' USA will lose its top credit rating, says Treasury's Geithner … [ Well, we all know the powers of foresight possessed by ‘no-recession-helicopter ben’ and tiny tim geithner ] ...
FOOD STAMPS: Record 45.8 million dependent...
One in seven Americans...

Postal Service warns it could default…[ No surprise here .. the usps is totally unreliable! ] ...
Post Office proposes cutting 120,000 jobs, pulling out of healthcare plan …[ Let UPS take over the usps! ]...
Controversy over White House 'Hip-Hop BBQ'...

'Mob' beatings at WI state fair...
'Hundreds of young black people beating white people'... [ Typical n*****s! Good thing there are food stamps; otherwise they’d be reverting to their inherent proclivity for canabalism (send them back to africa … even give them a lump sum for an irrevocable repatriation incentive … a huge cost-saving beyond the first year with substantial salutary effects for the nation, the economy, and the remaining civilized non-blacks). The other major crimes they do anyway. It’s their nature. You’ll never change the nigger … they evolved only to ‘a point’ and no further.  ]
Fairgoers 'pulled out of cars'...
'They were just going after white people'...
Heightened security...

[ I refrained from using the ‘n word’ (or even blacks / negroes) in referring to the culprits in the following two incidents (those tender sensibilities) but I’m sure you’ve guessed that they were niggers and I include same here in light of the foregoing incident (and yes, the victims were white), which is typical. ‘.. while walking through Military Park (a sliver of a “park” - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DA’s position with both felonies ( he went to prison – pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of ‘bystander effect’ / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp (a police officer here in California was the object of intense criticism for having used a flashlight to subdue a criminal  / nigger after a long chase so I included that here) . The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal / nigger went to jail (where they belong). The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so. I was also mugged by 4 niggers and 2 hispanics in an incident here in Los Angeles, CA. But, to be fair and balanced, the RICO litigation involves those uncivilized who consider themselves ‘whites’ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf  (predominantly but not exclusively jews / romans-italians / mobsters / government slugs). ]

UGLY!

DOW PLUMMETS 512...
OBAMA HAS BBQ COOKOUT...
GAINS FOR YEAR GONE...
'CORRECTION'...
PANIC RIPS THROUGH GLOBAL MARKETS...
Intervention fails to quell nerves...
'NOT SINCE JIMMY CARTER'...
Military money on chopping block...

Grim economic news clouds Obama 50th...

Two-year Treasury yield drops to record low...
RACE TO CASH: Bank imposes fee on rapidly growing deposits...
DEM RUNS FROM OBAMA...
Leaders Issue Warning on Joblessness...

Woman dies from heat after AC stolen...
San Fran tourist mugged of money, clump of hair...
RENTER STEALS AC, SELLS FOR GAS MONEY...
HUMAN HAIR TRADE SURGES...
Bronze Dog Statue Stolen From Humane Society...
Thieves steal school's bleachers!
Mom Arrested For Robbing Girl At Gunpoint -- For Bike...
10-Year-Old Boys Held Up For Sneakers At Summer Camp...
MOODY'S: 'NEGATIVE'

Massive rout spells trouble for Wall St...

Europe on Brink of 'Major Financial Collapse'...

DOW PULLS OFF A WIN! [ Based as usual on b***s*** alone! ]
Scary Chart Pattern Suggests More Selling on Way...
Economy struggles to find footing...
Obama, Bernanke out of ammo to boost jobs, growth...
Gold at $2,000 by year-end...

MORNING AFTER: BORROWING TOPS 100% OF GDP

European leaders feel the strain...
Berlusconi fails to stem rising panic...
'The coming crises of governments'...
Silent bank run hits Greece...
...exodus
Italy under fire...
Pain in Spain...
Woes Get Messier...

DEBT DEAL BACKLASH:
LIMBAUGH: A Total Waste of Time and Effort...
SAVAGE: America has been 'hoodwinked'...
DAILY SHOW: Where are the Tax INCREASES?
FT: Obama's image takes beating...
Ron Paul Sounds Alarm on 'Disturbing' Super Congress...
DER SPIEGEL: 'Civil War Atmosphere' in Washington...

Dollar falls to all-time low against Swiss franc...

PUTIN: USA 'parasite' on global economy... [Unfortunately, this is very true. More unfortunately is the fact that most worldwide don’t realize that fact! I mean, think about it: pervasively corrupt, defacto bankrupt america’s cancerous  perma wars, over-printed debased ‘Weimar’ paper ‘reserve’ currency, huge frauds in securities and otherwise, etc..  ]

House approves debt deal -- day before deadline!
Borrowing to surge after cap raised...
May not save AAA rating...

BIDEN [‘Lobotomy Joe’]CALLS TEA PARTY 'TERRORISTS'[ Riiiiight, ‘Lobotomy Joe’; anything you say joe, now calm down… ]

Manufacturing drops to lowest level in two years...
'Double Dip Here'...
RI Town Files for Bankruptcy...

Dog Airlifted Out of National Forest After Growing Too Tired to Finish Hike... [ Just another dog day afternoon in pervasively corrupt, defacto bankrupt america. ]

SURVEY: Internet Explorer users have lower IQs...

GOP REVOLTS

Obama Threatens Another Veto...
Just hours after urging compromise...
Carney Admits Obama Has No Plan...

OBAMA'S BASE CRUMBLES

BALL IN YOUR COURT, HARRY[, aka Mr. Milktoast, aka Majority Leader of Harry’s Wh*r* House]!

SWEAT CEILING: House approves debt bill...
NO! 22 REPUBLICANS BUCKED BOEHNER...
DC racing against clock...

HARRY BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...

Obama takes debt battle to TWITTER, loses more than 33,000 followers...
NYT reporter advises WH staff?

Illegal Aliens Head South to Mexico in Search of 'American Dream'...
4.9% unemployment in Mexico vs. 9.4% in US...
Black Middle Class Eroding As Unemployment Rate Soars...

CHAOS... CLOCK TICKING... NO PANIC...
THE VOTE: 'TEA PARTY' IN CHARGE!
Boehner Delays Vote on Debt...
Limbaugh: We've Been Played...
GALLUP: Obama Rates Higher Than Boehner, Reid on Debt Situation!
Ron Paul: 'Default Is Coming'...
Treasury Contingency Plan on Debt Gives Priority to Bondholders...
Carney: If We Have No Other Alternative We Will 'Take Action'...
Obama faces legal bind if time runs out...

PELOSI: 'We're Trying to Save Life on Planet as We Know it'… [ Riiiiight! Keep feeding those perma wars despite bankruptcy of this nation … Is life as she knows it on this planet really death? … Why does ‘doo,doo,doo,doo’ to the tune of Twilight Zone Theme come to mind when hearing her total b***s***?…Oh, riiiiight! She’s caught wobamanoid fever ] ...
6 days from 'default', both sides scrambling...
FURY OVER STALEMATE BOILS OVER...

House Dem leader urges Obama to raise debt ceiling without Congressional approval...

SHOCK POLL: 46% Think Most in Congress Corrupt...
WASHPOST/ABC: Blacks, liberals flee in droves...
SANDERS: Obama should face primary challenger...

The Immelt Way: WH Advisor on Jobs Moving GE X-Ray Business to China...
OBAMA SECRETLY SIGNALS BANKS: 'NO DEFAULT'...
WH to FOXNEWS: 'Tell your viewers there's nothing to worry about'...
BORGER: 'Nobody today is talking about tax increases -- except Barack Obama'...
TWT: Liberals hijacking Reagan to raise taxes...
PANIC: WH'S PFEIFFER SAYS DEFAULT COULD LEAD TO 'DEPRESSION'...

CA seeks bridge loan to pay bills...
Guv OKs financial aid for illegal aliens...
Brazilian currency at highest level since '99...
USA Can Avoid Default 'at Least Until September'...
Obama still pushing for tax hikes...
Endorses New Plan with 'Sham' Savings...
'Cuts' include money not spent in Afghanistan over next 10 years...
BOEHNER: Plan 'full of gimmicks'...

'DOING THINGS ON MY OWN VERY TEMPTING' [Why would anyone believe or follow anything ‘wobama the b’ (for b***s***) says when his actions belying his words have led to this disaster? Hasn’t he ‘done things on his own’ and contrary to campaign promises leading to this debacle? Indeed, he cannot be trusted! ]
Widest wealth gap between whites, minorities on record … [and they’re thanking ‘wobama the b’ (for b***s***)] ...
DEPENDANT STATES OF AMERICA: Geithner Warns: 'We Write 80 Million Checks a Month'...

BOEHNER TO OBAMA: 'CONGRESS WRITES THE LAWS, YOU DECIDE WHAT YOU WANT TO SIGN'...
...President 'worried about his next election'

...Putin considering Kremlin return
Pelosi splits, heads to fundraiser...
CNN: OBAMA LOSING LIBERALS...
Farm thieves target grapes, avocados -- even bees...
Thieves target ambulances...
Thieves Steal 100 Storm Drain Covers In Sacramento...
RASMUSSEN SHOCK POLL: Obama 41% Ron Paul 37%...

DEBT DEAL DEAD...
BOEHNER WALKS...

80+ DEAD IN NORWAY

Terrorism shatters peace in home of Nobel prize...
NYT: 'Helpers of Global Jihad' claim...
Fake cop opens fire at youth camp...

'Tall, blond, of Nordic looks'...
REUTERS UPDATE...
BBC LIVE...
Obama, Boehner discuss new debt plan... Developing...
PRESSURE: S&P renews warning...

SCORCH: HIGH TEMPS TO LAST WEEKS...
Now covers 1 million sq miles...
NEW YORKERS WARNED TO EXPECT ROLLING OUTAGES...

Rolling Blackouts Begin In Detroit...

Fears mount about 'Big Brother' database in Massachusetts...
Florida made $63M selling names, addresses, dates of birth...
Latin America Lectures US over Debt Crisis...
US talks get 'messy'...
Obama now open to short-term deal...

Euro meltdown: Sarkozy jets into Berlin for crisis talks with Merkel...
24 HOURS TO 'SAVE GREECE'...

Ron Paul: 'We Will Default, Debt Is Unsustainable'...
DEAL: SENATE HUDDLES TO HIKE TAXES...
Obama praises...
RESTATES THREAT TO VETO SPENDING CUTS...
LIBS EYE DEEP CUTS TO NATIONAL DEFENSE...

Cash-Strapped Connecticut  Fire Sale, To Axe 365-Year-Old Ferry, Nation's Oldest...

OBAMA MAKES JOKE; NO ONE LAUGHS...

Gold Has Longest Run of Gains Since 1980...
Gas prices on the rise; top $4 in eight states...

Cash-Strapped SF To Shutter Courtrooms; Lay Off 200 Court Workers (and yet another feinstein? From direct experience with the superior courts of california, no loss here, and eliminating them entirely not a bad idea in light of their costly corruption as in the federal system! )...
DEM FLASHES RACE CARD IN DEBT DEBATE...[ Oh come on! This jive-talking, failed ‘president’ has been indulged in every way imaginable and possible (all those false campaign promises that got him elected, etc.). He may not have been the first (clinton has been said even by blacks to have been the first ‘black president’), but he most assuredly is the last black president, fitting every negative stereotype imaginable including racist hypocrisy. UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Won’t Prosecute Financial Crime  Washington’s Blog Roche 'The worst part of it  ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’  ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’  http://albertpeia.com/obamadeceptionhighqualityversion.flv    
'Only THIS president has received the kind attacks and disagreements'...

BOEHNER: HE HAS NO PLAN... [ It’s true; ‘wobama the b’ (for b***s***) has no plan whatsoever. Ask Mr. Teleprompter. ]
KRAUTHAMMER: CALL THE BLUFF!

Feds Issue Warning After 4 Mailboxes Lifted From Post Offices...

O'DRAMA...
'ENOUGH IS ENOUGH'...
WALKS OUT OF WHITE HOUSE MEETING...
'DON'T CALL MY BLUFF'...
REID CALLS CANTOR NAMES...
CAMP DAVID SUMMIT?
BOEHNER: NO NEED...

MCCONNELL: GOP won't be 'tax collectors for Obama economy'...
Hometown congressman tells Obama to 'quit lying'...
PELOSI: 'Almost too busy' to continue debt talks...
GEITHNER: Out of time...
Cash-Strapped NYC Fines Man $2,000 -- For Not Watering Beehive?

STUDY: Black men survive longer in prison than out...
Man falls into Maui blow hole, disappears...
PRESSURE: MOODY'S PUTS USA ON DOWNGRADE WATCH

Boehner Rails on Obama: 'Like dealing with Jell-O'...

WH Cracks Down on Press: No Yelling at Obama Today...
President 'chafes' at unscripted questions...

BERNANKE BARKS BACK AT PAUL...
Fed May Launch New Round of Stimulus...
DOLLAR TUMBLES...
Putin calls Feds 'hooligans'...

Gold hits new high...
DEBT TALKS BREAK DOWN...
McConnell: Deal Not Possible With Obama … [ I think this shoe fits wobama ... African-American unemployment at 16% ... (But there’s rationality in this stat as people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s the attitude. I truly believe from direct experience that even when their outright aggression, assaults on persons and the senses, and otherwise obnoxious behavior is not apposite, the personality disorder ‘passive / aggressive’ is applicable, however indirectly expressed.)  ] ...
'Backup plan'...

OBAMA THREATENS TO HOLD UP SOCIAL SECURITY CHECKS
RUBIO: Every Aspect of Life in America is Worse Since Obama Took Over...
GE Immelt lectures biz owners: 'Stop complaining about government'...
FLASHBACK: (GE )Company Paid NO TAXES Last Year...

OBAMA: LET'S STAY IN IRAQ...
FLASHBACK: 'I intend to remove all U.S. troops from Iraq by the end of 2011'...
KARZAI'S BROTHER ASSASSINATED IN KANDAHAR...
Gunned down in home by bodyguard...
'Huge boost for Taliban'...
Obama 'far apart' from Republicans on debt deal...
Boehner: Debt Deal Not Imminent...
TORMENT @ 9.2%

State and local governments bleeding jobs...
Top Obama adviser says unemployment won't be key in '12 … (riiiiight!…talk about wishful thinking and self-delusion)...

BUCHANAN: DC Establishment 'in Panic'...
S&P WARNS GREECE OF DEFAULT -- EVEN WITH BAILOUT!
'Impossible knot'...
SANTELLI: 'The answer is easy: Spend less!'
Italy's borrowing costs soar...
Berlusconi appeals for national unity and 'sacrifices'...

New Fears on Italy Jolt Europe...
Soros: Europeans now need 'plan B'...

Mob Of Teenage Girls Attacks Minneapolis Mom, 4-Year-Old Daughter...

Air Conditioner Thieves Hit 7 Churches In Texas...

THEY'RE HERE! [ Uh! That ‘nausea’ factor; though not nearly of the magnitude of america’s unctuous duo, ‘wobama the b’ (for b***s***) and michelle his belle (see infra). After all, the cloyingly cutesy couple from across the pond is hardly in a position to do damage as are the wobamas. Yet, one must ask: just what exactly are they? Mascots? Non-emmissary emissaries? Indeed, in this economy it’s quite embarrassing for members of the so-called commonwealth, struggling economically and otherwise, england/uk being no exception (royals wealth’ is ultimately the product of common expense) to be celebrating celebrity for the sake of nothing more than celebrity. Worse is the pathetic display here in the defacto bankrupt disunited states (uk not much better and in many ways worse) relative to their former colonial masters. Then there was that ostentatious marriage display so well publicized even as the uk’s (eu, u.s. et als) ‘rank and file’ are sacrificing and the respective nation states crumbling. Even so-called celebrities here shun such meaningless displays of themselves and at least serve a cinematic (art form) purpose. Truth be told, I bear them no ill will; but, I bear them no good will either. After all, quite simply, they are but a meaningless, extravagantly costly welfare couple that are simply irrelevant. How pathetic and embarrassing for their fans, followers, onlookers and their liege. And, though I’m biased (I think Grace Kelly to have been the most exquisite of creatures to have graced this earth – Alfred Hitchcock with an eye for such things thought so too and said as much), clearly Prince Albert of Monaco and his bride’s wedding was tastefully and not cloyingly about right. Now that’s real royalty via Grace Kelly; with a purpose; the management / leadership of a prime travel / gambling / entertainment / resort destination; viz., Monaco. ]
BOEHNER: Taxes 'off table'...
Debt Talks Turn to Social Security Cuts...
CHARGE: Bypassing Congress to raise debt would be 'impeachable'...

Mullen Accuses Tehran of Arming Iraq Militias… [  Riiiiight! Iraq’s the ‘boogey-man / bad guy’ in Iraq … not war crimes nation america which invaded based on known lies ] ...

LONDON BRIDGES FALLING DOWN:
Coulson 'to be arrested tomorrow'...

Gov't decision on SKY takeover 'delayed'...

UPDATE: China warns U.S. officials not to meet Dalai Lama...

CHICAGOLAND: THIEVES STEAL ENTIRE A/C UNITS FROM HOUSES

UPDATE: Teen Dead After Beach Brawl...
Wisc beating victim: 'They just said "Oh, white girl bleeds a lot"'...

US Lawmakers Accuse DOJ of Cover-up in Botched Gun-Running Op...
CA Prison Shrink Paid $838,706 Last Year...
CA companies flee state...
No recession for 454 White House aides: They'll make $37,121,463 this year...
United States of 'gloom'...

Iran Ridicules: America is Not Independent...

SHOCK: Father with HIV raped 6-month-old son...

MEDIA BLOWS IT, AGAIN...
NANCY GRACE LEFT SPUTTERING: 'SOMEWHERE OUT THERE, THE DEVIL IS DANCING TONIGHT'...
Attorney: Case Was 'Media Assassination'...
'Now you have learned a lesson'...
CBS host breaks down...
'TOT MOM' CLEARED BY COURT...

JURY: NO MURDER!
Only guilty of lying to cops...

Portugal's Debt Downgraded to Junk...
CHINA: USA 'ALREADY DEFAULTING'...
DOLLAR TO 'LOSE RESERVE STATUS'

Economy Expected to Have Major Slide in Months Ahead...
NEW IMF CHIEF FROM CHICAGOLAND...
MARK HALPERIN CALLS OBAMA 'A DICK' ON LIVE TV...
POLL: Obama 42%, any Republican 46%...
Campaign signals fundraising fail...
UPDATE: Minnesota Government Shuts Down...
Washington state closes tourism office...
Florida state workers get pink slips, more cuts ahead...

FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...

SoCal Looks to Secede from California...

REPORT: U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
GETTING NERVOUS

NEWT: Obama 'most successful food stamp president in American history'...

Bachmann: Media wants 'to see two girls come together and have a mud wrestling fight'…[Well, I don’t know about the mud wrestling, but voyeurs all, ‘come together’ sounds about right … playing ‘victim’ does not become a presidential candidate. ] ...

Palin: Hollywood stars as 'full of hate'... ["What would make someone be so full of hate?" palin asks … answer: resistance to someone as dumb and full of war-mongering hate as she is! ]

REPORT: NATO forces ARE trying to assassinate Qaddafi...

Los Alamos under siege from wildfire...
'Throwing absolutely everything at this that we got'...

BLAGO LIKELY HEADED TO PRISON...
'What happened?'
But he gets to keep his hair...
Fitz finally wins one!

GUILTY IN CHICAGOLAND...
17 of 20 counts...
Tried To Sell Obama's senate seat...
Jury DEADLOCKED on Rahm shakedown...
Blago to lawyer: 'What happened?'
'Stunned'...

JOBLESS WEAK: 429,000...
...disappointed
Economic trouble puzzles Fed chief...

FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE NEW 'NORMAL'
GALLUP PLUNGE...
Approval -4, disapproval +5 -- in one day!

DOWN TO THIRD: USA 'TO FALL BEHIND INDIA' IN TRADE...
DEM FIX: MORE SPENDING!
Bernanke speaks, stocks sink...
FORBES: 'Admits he's clueless'...

CBO: Long-Term Debt Picture Worsens...
Would reach 101% of GDP by 2021...
STUDY: State, local gov'ts must raise taxes $1,400 a year for 30 years to fund pensions...

Millionaires shrug off downturn; Wealthy richer than before crisis...

Zuckerman: 'We now have more idle men, women than at any time since Great Depression'...

SHOCK POLL: ONLY 3 in 10 WILL VOTE FOR OBAMA...
66% say US headed in 'wrong direction'...

Greece Agrees on New Austerity Plan With EU, IMF...
ANGER IN ATHENS...
'BLACK HOLE'...

WH TRANSCRIPT: 'Over the last 15 months we’ve created over 2.1 million private sector jobs. (Laughter.)'...

REPORT: GANNETT to slash more jobs across the country… [ No surprise here for this pathetic shill, rag publisher. The only real newspaper consistent with a tradition of courage, excellence, and respect for the first amendment is The Washington Post …] ...

DEBT TALKS BREAKDOWN; TAX BUST

S&P: Risk of U.S. credit rating downgrade increased...

Chicago county faces $108 billion gap in pensions....

Greek Streets 'Explosive'...
PM wins confidence vote 'but outlook remains dire'...

Huntsman announces presidential bid at Statue of Liberty...
Harry Reid endorses...
Bachmann surges to primary lead...

Iraq hunting $17 billion missing after U.S. invasion...
NATO NIGHTMARE: 9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]

Census: Whites lose majority among babies...
German Giant Says US Workers Lack Skills...
PAPER: AMERICA'S LOST DECADE?
States look to Internet taxes to close budget gaps...

SPANIARDS ON MARCH OVER BLEAK PROSPECTS...

House will move this week to limit funding for effort in Libya...

'DON'T BE SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK PM PLEADS FOR UNITY!
...warns against default
Threat to downgrade Italian debt raises contagion fears...
Princess Diana Conspiracy Movie Headed to Theaters... [ Uh, oh! Time to gear up the already harsh ‘censors’ in england.   ]

PAPER: AMERICA'S LOST DECADE?

Bachmann: Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’ (for b***s*** has failed everyone. ]
Presidential no-show miffs Hispanics...
African-American unemployment at 16%... [ But there’s rationality in this stat as people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s the attitude. I truly believe from direct experience that even when their outright aggression, assaults on persons and the senses, and otherwise obnoxious behavior is not apposite, the personality disorder ‘passive / aggressive’ is applicable, however indirectly expressed.  ]

SHE'S OFF! (on the road again) Michelle Obama embarks on Africa visit … (stay there!) ...
Michelle Obama Admits: 'Fortunately, We Have Help From The Media'...
CHICAGOLAND: Rahm's Top Cop Blames Gangs, Crime on 'Gov't-Sponsored Racism'...
Likens federal gun laws to 'racism'...

Teen Mob Of 50 Hits Chicago WALGREENS...
Teen brutally beaten by mob of  blacks; cops mull 'lynching' charge...
Princess Diana Conspiracy Movie Headed to Theaters...  [ British queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by security scares. (Washington Post) [ ‘How sweet she is’ … that ‘sweet liz’ … that is …   Diana film causes stir at Cannes  “Unlawful Killing” has a combination of celebrity, controversy and canny hype-mongering. (Washington Post)  [ Let’s not kid ourselves … and, Dodi Fayed’s father was no dope and knew the score. Indeed, it’s not coincidental that William’s the over-riding favorite of granny Liz II; after all, Harry’s the bastard son of Hewitt (don’t buy into their DNA proffer which they did buy – you know, that ‘bloodline thing’). Moreover, it was reported that Diana had another ‘potential challenger in the oven’ at the time of her death and we all know how dicey such english affairs of state can be (ie., Henry VIII, Richard III, etc.). Then there’s the contempt of Diana for having brought the son of her bosom, Chas, down. Do I think she said flat out ‘kill Diana’. No … more of a ‘do what’s necessary’ to mi6 et als. Ultimately, William will require some substantial therapy to sort out this looming conflict. After all, Diana was his mother.   Drudgereport:  British woman decapitated in grocery store; killer flees with head...      Cannes: Diana doc slams UK royals as 'gangsters'...  ]
Drudgereport:
Protesters burn American flag during Obama visit to Puerto Rico -- a U.S. territory...  [ I find even his retirement costs objectionable. Obama: My family is ‘fine’ with one term Politico | President Barack Obama says his family is “not invested” in a second term. The unctuous pandering by the wobamas is nauseating. And, michele’s fundraisers? What’s up with that? Wobama’s such a glomming golem / slug. Obama says if he were Weiner, he’d resign  President Obama on Monday waded into the debate over whether embattled Rep. Anthony Weiner should step down, saying, “If it was me, I would resign..Barack Obama: The Naked Emperor Shocking but true revelations from David Icke| ..Obama is just more of the same, a big smile with strings attached, and controlled completely by those that chose him, trained him, sold him and provided his record funding, kept his many skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to be with your Presidential camp, who is alleged to claim that someone claiming to represent me called asking for $100,000, to keep me from coming forward about our (Obama and I) November 1999 encounter of sex and cocaine use?), ... Obama is just another Banksters' moll prostituting himself .., and that's why he supported the grotesque bail-out of the banking system and why he will always put their interests before the people. ] http://albertpeia.com/obamadeceptionhighqualityversion.flv