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Dave’s Daily: http://www.etfdigest.com
‘ “THE END IS NEAR” – FISCAL CLIFF
12-20-12 Well, that’s what we’re
told anyway. Tomorrow is the Mayan doomsday prophecy and/or perhaps a fiscal
cliff deal. I believe Obama was slated to leave for a Hawaiian holiday, but
that may be postponed.The Executive branch and the Senate and House of
Representatives each has a role to play in the budget process. The congress is
divided. Compromise is the only solution as in, “I’ll
give you X and you give me Y”.
This is the way it should go but the House and WH are wide apart with only some
give around the edges. The House Speaker, John Boehner, through a bill is
publicly putting his side’s
agenda to a vote. So that’s
a marker from which to negotiate theoretically. And, yes, the Senate will not
take up the bill if passed so as not to legitimize it.Perhaps by the time you
read this the world will have ended making this analysis moot.Jobless Claims
rose (361K vs 359K expected & prior revised higher to 344K). The previous
lower report may have been an outlier. The average for 2012 is demonstrated
below and this report remains near the average.
http://albertpeia.com/daveschart122012no1.gif
GDP final Q3 data was at 3.1% which was greater than
prior estimate of 2.7%. Under the hood, nearly half the annualized growth was
from government (.75%) and inventories (.73%). Personal Consumption rose 1.12%
but below previous estimates of 1.42%. Q4 estimates are averaging only 1%.
Below is a graph from the BEA.
http://albertpeia.com/daveschart122012no2.gif
Philly Fed Survey rose (8.1 vs -2 expected &
prior -10.7) while Existing Home Sales rose 5.9% (5.04M vs 4.94 expected &
prior 4.76M). Both were excellent reports with the latter in complete contrast
to Monday’s Empire State Index
(-8.1). So we’re left to scratch our
heads.Stocks were flat earlier and then rose once Speaker Boehner said he’d still be negotiating with the president once his
bill has passed. This caused stocks to rally modestly. But then leader Harry
Reid adjourned the Senate with the intention of reconvening December 27th for
another round of the mini-series. Basically Reid & Co are just the closing
act anyway but there won’t
be a deal before Christmas it seems.The bigger news is the ongoing sell-off in
precious metals. Some are finding explanations difficult but it seems it
involves two basic issues: hedge fund redemptions and sector rotation. With the
former heavy selling it feeds on itself triggering stops and more selling. We
won’t know the seriousness of
it until January frankly. Gold (GLD) and silver (SLV) are leading metals lower.
In sympathy copper (JJC) has also been driven lower. Frankly with the dollar
(UUP) falling and central banks in full money printing mode, commodities and
precious metals should be soaring. Financials (XLF) (KBE) and real estate REITS
(IYR) (RWX) led the way higher. Bonds (IEF) were stronger while commodities
(DBC) were weaker. Naturally financials were helped by the ICE takeover of the
venerable NYSE. The buyer liked the brand and possibly their HFT center which
accounts for most of the volume these days.Volume was modest while breadth per
the WSJ was positive…’
http://theeconomiccollapseblog.com
http://albertpeia.com/75terribleeconomicnumbersof2012.htm
Submitted
by Tyler Durden on 12/20/2012
No,
really, there is a big, huge, massive rotation out of
those dangerous, inflationary bonds into safe, predictable equities...
Submitted
by Tyler Durden on 12/20/2012
Forget
what you are told by various European officials. Ignore the endless parade of
manipulated market savants who 'see' sovereign spreads falling and claim that
indicates all is well in Europe. To truly understand the situation, watch this
must-see documentary from the BBC's Paul Mason on the rise and fall of Spain. From
dictatorship to democracy and from construction boom to economic bust,
Mason pulls no punches in this down-to-earth realization that things are far
worse than any 'market' would suggest. It is critical to understand that free
markets are the stick (or carrot depending upon your style of
vigilantism) to incent governments to be proactive. With the very
visible hand of ECB-funded banks bailing one another out, all the
politicians are doing in this 'lull' is nothing at all!
Instead, the watchers (and prognosticators) simply observe the market and their
bias is to believe that they 'fixed' it. This documentary will
explain why that is absolutely not the case.
Submitted by Tyler
Durden on 12/20/2012
Confused
by what is about to take place amid the loud noise, political posturing and
rhetoric that as soon as tomorrow will hit an unseen before level as Obama's
plan to split the GOP has worked so well it has completely backfired and
thrown any game theoretical forecasts out of the window? Here is Goldman's
fiscal flowchart, which is not for faint of heart, as ever more signs point to
the box with the all caps "recession" written all over it.
Submitted
by Tyler Durden on 12/20/2012
A
mere
7 hours ago in "Just in case there is no deal" as is now the
case, we noted that there was a considerable divergence between the equity market's
roiling exuberance (and the accompanying over-confidence of the naive watchers)
and the occurrences in the implied volatility world. VIX had decoupled rather
notably from stocks (and its term structure had flattened as short-term
protection was heavily bid). Sure enough, at the first sign of things not quite
going to Plan (A, B, or Z), equity futures have collapsed amid a total
farce of a market liquidity to recouple with volatility. With
quad-witching tomorrow, we can only imagine the efforts the algos will be going
to tonight to keep this afloat.
Submitted
by Tyler Durden on 12/20/2012
Update:
wow:
HOUSE SCRAPS PLAN TO VOTE ON BOEHNER'S TAX `PLAN B' TONIGHT
U.S. HOUSE PLANS NO VOTES UNTIL AFTER CHRISTMAS, BURTON SAYS
BOEHNER SAYS `PLAN B' TAX PLAN LACKED SUPPORT TO PASS
BOEHNER SAYS UP TO OBAMA TO WORK WITH REID ON BUDGET PLAN
Absolute
total chaos. ES at lows of the days right now. Luckily, at least the debt
ceiling is a firm deadline... Sometime in late March. Oh, and goodbye Boehner?
Submitted
by Tyler Durden on 12/20/2012
Following
up on
our recent discussion of the worst-is-first rally that we have all been
witness to in the last few weeks, we thought it noteworthy that the
'most-shorted' names in the Russell 3000 and the index itself have now recoupled
from their epic divergence post-QE3. We have seen five large short
squeezes 'engineered' since the lows in March 2009 - and given Citi and BofA's
17% gains in December alone, we suspect (and have heard from more than a
few funds) that year-end is bringing some forced buy-ins as SecLend desks
become a little more activist.
Submitted
by Tyler Durden on 12/20/2012
As unemployment rose
toward 10%, the January 1975 cover of Ramparts magazine blared: The End of
Affluence: The Last Christmas in America. (TLCIA). Now statistics are echoing
that last great recession: rising prices for essentials, systemically high
unemployment and stagnant wages. So how does a society deal with the End of Work when it also means The
End of Affluence, even for many of those with jobs? How does government deal
with declining tax revenues and rising interest rates? The death
throes of the debt-based consumerist lifestyle are already visible beneath the
glossy propaganda of "rising revenues this Christmas season." The Fed is desperately attempting to re-inflate the
debt bubble by lowering interest and mortgage rates and buying up all sorts of
semi-toxic/impaired debt. What the Fed dreads is the reality
we all feel and see: fear of the future due to diminished wealth and shaky
incomes.
Submitted by Tyler
Durden on 12/20/2012
Manufacturing
industries have helped drive economic growth and rising living standards for
nearly three centuries, and for some developing economies (as McKinsey notes in
a recent report) continues to do so. Things are changing, however, as
manufacturing output (as measured by gross value added) grew by 2.7% annually
in advanced economies and 7.4% in large developing economies (from 2000 up
until 2007); the leaders are changing rapidly China, India and Russia
rise and Germany, Japan, UK, and Canada are sliding {and old news, u.s. slid}. The
following chart simplifies the evolution of global manufacturing economies over
the last four decades.
Submitted
by Tyler Durden on 12/20/2012
What
creates real efficiency and competition are not eras of wealth and largesse,
but eras of scarcity and change. A good analogy is that war creates
better armies and better weapons, not prolonged periods of peace.
Bernanke of course has zero understanding of what happens to large companies
when financial reality is made irrelevant, and capital is made plentiful.
(Growth and efficiency are by no means a logical result). This is what happens
when academics who are deeply inexperienced in business run monetary policy
designed to stimulate business. The market is going to bend him
over the table and humiliate him eventually. And then all that capital
that he injected into the market is going to evaporate, and a generation of
Americans will be financially obliterated.
Submitted
by Tyler Durden on 12/20/2012
For
all economies, the relative pressure of ‘tailwinds’ in relation to ‘headwinds’ will be crucial for the outcome of economic
activity. In the chart below, Barclays shows a heat-map that represents their
subjective assessment of the relative balance of forces from 2012 into 2013 and
beyond. In 2013, the fiscal headwind continues to loom large and is an
important basis of caution despite the strong improvement in financial
conditions. The fiscal headwind is unlikely to abate by much in the US
and Europe until 2014, possibly later. Other sources of ‘headwind’ are likely to
continue during 2013; these include private sector de-leveraging in the
highly indebted parts of Europe, as well as political uncertainty (in
this context, we observe the elections in Italy (Q1) and Germany (Q4)).
Monetary policy, policy reforms, and the financial markets themselves are the
main tailwinds as vol suppression continues. Headwinds vs Tailwinds once
again in 2013...
Submitted
by Tyler Durden on 12/20/2012
There
have been very few times where in my 40+ years of capital markets
participation that I’ve strongly believed that we have witnessed a
significant, material, public but seemingly under-discussed, under appreciated
watershed event that will
over the next several years, impact capital markets in a profound manner.
The recent announcement by the Fed that they were to pursue the future course
of monetary policy with direct regard to a specific, numerical level of
unemployment in my mind, represents exactly one of those rare events. While the
optics of the recent decision to accept an active target of the unemployment rate
might be well meant, socially responsible and politically correct, the
dependency upon the single datum construct already of a highly controversial
nature may well likely reduce further the credibility of the Federal
Reserve’s monetary efforts,
thereby leading to slower economic growth, hiring and economic well being as
adverse unintended consequences. Indeed, another triumph of form over
substance wherein appearances of a literally wondrous intent might
soothe the fevered brows of the public but remain entirely within the manipulative
province of the data managers.
Submitted
by Tyler Durden on 12/20/2012
If one reads sellside research (especially that of Bank of America or Goldman), if one listens to comedy-finance fusion TV channels, if one reads newspapers, one can't help but be left with the impression that everyone and their grandmother is now dumping Treasurys and buying stocks. Why - because this is a key part of Bernanke's latest masterplan (which is the same as all his previous "masterplans", which have failed so far about 4 times previously) to force what little retail investing capital is left out there out of the safety of bonds (return of capital), and into stocks (return on capital). The catalyst? This time, for real, central planners will generate enough (controlled) inflation to create losses for anyone holding long duration paper (such as the Fed of course, whose DV01 is the biggest in the history of the world at over $2 billion, but we digress). So just to test whether or not this was indeed the case, we decided to go to the source data for what the smartest money of all is doing: the 20 or so (RIP 21st PD MF Global) primary dealers. After all, if everyone is dumping Treasurys over fears of an imminent surge in yields, and rotating into stocks, it would be them right? Well, the result is charted below: we present it without commentary.
Submitted
by Tyler Durden on 12/20/
Confirming what we all know, here is Bloomberg's "most improved for 2012" (in our humble opinion) commentator, Michael McDonough, on China: "Fiscal stimulus has bought China’s new leadership time to pass critical reforms to spur domestic consumption and rebalance the economy, though there is little room for error. Central banks from U.S. to Japan, through unprecedented levels of quantitative easing, are influencing global markets more than ever. Concerns have arisen over China’s manufacturing sector losing competitiveness; companies including Apple and General Electric have moved some manufacturing lines back to the U.S." The Bloomberg Brief note continues: "Growth in China, which is currently being supported by government fiscal stimulus targeting infrastructure investment, will probably remain between 7.5 and 8 percent. This will buy time for the new leadership to continue with reforms, including interest-rate liberalization, designed to help stoke final demand in China and properly rebalance the nation’s economy."
Submitted
by Tyler Durden on 12/20/2012
Submitted
by RANSquawk Video on 12/20/2012
http://theeconomiccollapseblog.com
Better watch out: Insiders are selling Marketwatch
Why isn’t Obama
demanding corporate welfare cuts?
Marketwatch
Why a recession is coming no matter what fiscal-cliff deal is
reached Marketwatch
20 children, 7 others dead in school shooting Marketwatch
{ From the previous day, pre-shooting I posted : Don’t Let Your Child See a Psychiatrist. Jon Rappoport { In light of his
expressed fear, psychologists can’t prescribe medication – though that’s
changed somewhat in some states. Rappoport must realize that some parents,
nuttier than fruitcakes particularly in america, might be the problem. Who then
does the troubled child turn to?} That said, Every human emotion now classified as a mental disorder
in new psychiatric manual DSM-5 Mike Adams { Well, I gotta tell ya … if the shoe fits, wear it …
the reality is that the prevalence of mental disorders/mental illness in
america is so great that reactions as those of mike adams (including shooting
the messenger) are not unexpected; but, must be discounted. After all, insanity
or close to it has indeed become the new normal, shaded/obscured somewhat by
what’s deemed simple inherent criminality which masks the underlying
‘americinsanity’. }
Prepare to pay the piper
Marketwatch
http://albertpeia.com/chinajobsnotcomingback.htm
http://albertpeia.com/15signseconomyworsefor2013.htm
http://albertpeia.com/unemploymentnotgoingdown.htm
AP Business
Highlights
...Yahoo Market
Update…
Submitted
by Tyler Durden on 12/11/2012
Minutes
before Michigan Governor Snyder signed the 'Right-To-Work' bill into law,
Teamster leader Jimmy Hoffa appeared on CNN,as seen in the clip below,
warning that: "This is just the first round of a battle that's going
to divide this state. We're going to have a civil war,"
as the bill to weaken unions' power is passed.
{ There is an exception
to the hearsay rule known as a dying declaration; the rationale being that a
person would not ‘go to his maker’ with a false statement/declaration to ‘taint
his soul’. Interestingly, I had occasion to know a very intelligent, learned
man who was indeed dying, in a death spiral if you will. A lawyer by
profession, he had taken an interest in another lawyer’s history; none other
than Abraham Lincoln himself. Curiously I thought at the time, though even
then, some decades ago (long before the internet), I realized that you were
never getting the whole, correct, true story from american media, history as
written, etc.. ( I was fortunate in sixth grade to have had a great teacher,
James Bresnahan, who allowed for ‘expansive’/accelerated learning in what he
took the time and trouble to provide as an advanced reading group. Among the
subjects was that knowledge/thinking tainting phenomena known more commonly as
propaganda). After all, a long dead president; and, one who famously suffered
from recurring bouts of severe depression could hardly be the object of, from
my view, intense intellectual interest and scrutiny. Yet, he was fixated on
what he deemed a somewhat surprising revelation; viz., from his intense study,
Abe was not ‘Honest Abe’ but rather, was a thief. I was aware that in fact,
Lincoln found niggers somewhat appalling and initially opposed ending slavery
as well as those who favored same, viz., the abolitionists, etc. (niggers are a
same old old story of lazy, unproductive, inherently very uncivilized criminal
people who are fun-luvin’ for games, partying, and getting high only. Even the incisive Shakespeare
euphemistically referred to the ‘typicality’ of the inherently untrustworthy
and without sense of honor, ‘noir’ [french for black]). The ultimate consummate
politician (as a lawyer, Lincoln famously took a contrary position not long
before saying he thought he then was right but now taking the opposite position
now knew he was right … riiiiight! ‘Honest Abe’), Lincoln ultimately did, in
rallying his ‘stalwarts’, back the abolitionist cause. I personally feel the
people of the south were foolish in bringing vanquished niggers, sold into
slavery by other niggers who vanquished them, to this already now recently
blemished land. Moreover, as today, the niggers (and the abolitionist cause)
had provided fodder for politics of all
sorts, including that of Lincoln. Indeed, even today, spielberg who is famous
for his pro-jewish ‘politicking’/propaganda (even the first Indiana Jones movie
was heavy on the Arab/Nazi transference propaganda) has found a way to make
film-making pay for him and the democratic party by way of the misguided,
inaccurate view of Lincoln as the anti-slavery icon he is speciously depicted
as. Civil war? Hoffa, like his mob-connected, then disconnected (permanently)
father is old news. The truth is that their own done them in (as was so of
hoffa’s father) with NAFTA, etc., as they themselves foolishly laughed at their
real would-be saviors, ie., Ross Perot, etc.. The reality is, there is
literally nothing that can’t be produced better and cheaper and without paying
the shake-down bribe from the teamsters et als for doing absolutely nothing (as
is true with the other niggers, et als, entitlements, etc.), elsewhere.
Twinkies anyone? }
Submitted
by Tyler Durden on 12/04/2012
Eleven
states made Forbes'
list of danger spots for investors including California, New York,
Illinois, and Ohio. They warned (and with the cliff it is even more
critical), if you have muni bonds in these states - clean up your
portfolio; if your career takes you there - rent, don't buy! Two factors
determine their list of 'fiscal hellholes'. The first is whether there are more
takers (someone who draws money from the government) than makers (the gainfully
employed). The second is a state
credit-worthiness score (via Conning) based on large debts, uncompetitive
business climates, weak home prices, and bad trends in employment. Conning
rates North Dakota the safest state to lend money to, Connecticut the most
hazardous. A state qualifies for the Forbes' death spiral list if its
taker/maker ratio exceeds 1.0 and it resides in the bottom half of Conning’s ranking. See below for the 11 states to avoid...no matter
what Bob Toll, Larry Yun, Bob Pisani, or Alexandra Lebenthal tells you..
Between 2010 and 2011, New Jersey’s GDP contracted by 0.5% — more than all but three states. The state’s median household income and poverty rate both ranked third in the nation. On the other hand, the state’s tax burden on its residents was second highest in the U.S. in 2010. Residents paid 12.4% of their income in state and local taxes — higher than any other state except neighboring New York. The state has budget problems, as well, according to the 24/7 Wall St. analysis. New Jersey’s debt as a percentage of revenue was 91.6%, the fifth-highest of all states.
Submitted
by Tyler Durden on 12/06/2012
Just
a few months back we noted the
FBI's arrest of Tony Mack, the Mayor of New Jersey's salubrious capital
Trenton. Today, via AP, the mayor and his brother have been indicted on eight
counts of extortion, bribery, and mail and wire fraud. The Mayor has continued
in his position - even since the September arrest - but the federal
indictment relates to an alleged scheme to accept $119,000 in bribes in
exchange for his influence in the development of a garage on city-owned land.
Shocked? not so much; but it seems maybe "Trenton Makes, The Mayor
Takes" is more appropriate.
http://albertpeia.com/uncontrolofinternetfreespeech.htm
America's
10 best-run
and
worst-run states Marketwatch
North Dakota (left) is the best-run state,
according to 24/7 Wall St.'s analysis. { Yes, indeed! I can attest to the
worthiness of jersey and california on
the worst-run list. Yet, new york/connecticut with their (ny
predominantly…connecticut is but a suburb of new york in a very ‘go along to
get along’ way … then there’s the other beltway drain, virginia, a d.c. suburb
with all d.c.’s faults.) large scale, nation draining corruption including wall
street frauds/bailouts, etc., should make this relatively short list. }
Israel moves to build 3,000 new homes The plans include
future construction in a strategic area where critics warn would kill hopes for
a viable Palestinian state. { The never ending story courtesy of the war
mongering, illegal nuke-toting, u.n. resolutions/international law scofflaw,
war crimes nation israel. } Brzezinski:
US must stop following Israel “like a stupid mule” Kevin
Barrett | Brzezinski has
drawn an unflattering picture of US-Israel relations. { And that goes for the politicians et als as well. Indeed, while
there may have been (ie., in the past) a time that blind adherence to the
pro-israeli line was a ‘political advantage’, that’s certainly no longer the
case. In fact, for all Romney’s contra-indicated pro-israel babble, wobama’s
jewish vote from the prior election was unchanged while Romney was hurt among
other constituencies fearing a return to the moron bush neo-con/pro-israeli war
mongering mindset. } { The unfortunate
reality is that while rome burns, the ne(r)o cons fiddle with unreasonable
israeli obsessive preoccupations born of paranoia and irrational quest for
control of people who america and clinton herself warrant a separate state by way of the 2 state solution. The fact
is, america’s problems are too large and grave for attention to israeli
contrived, self-interested concerns. The reality is that pervasively corrupt,
defacto bankrupt america has neither the time nor the resources to
self-destructively ‘dance the tarantela’ with israel. }
http://theeconomiccollapseblog.com
http://albertpeia.com/34signsamericaindecline.htm
Drudgereport:
PRAVDA:
Obama 're-elected by illiterate society'... { Or ill something or
other in addition to illiterate! To reiterate and quote Ron Paul: america’s far
gone! http://albertpeia.com/obamberthemistake.htm }
UN
EYES CONTROL OF INTERNET {
Come on! The un can’t even do what they are supposed to do! Enforce resolutions
as to some nations, not others … war crimes delineated for some nations, not
others … then the corruption, wasted resources, etc.. They are the ‘uncompetent’ bent on destroying/controlling the
viability of the important free flow of information! }
‘This
is going to be a very special holiday season. The reason? It’s the last hurrah before
things get very very ugly.
Just off the cuff, you need to
know that:
1) China, the EU, and the US
(comprising over 50% of Global GDP) are in recession already. The EU has
already announced this. Look for the formal announcements concerning the US and
China to hit the airwaves next year.
2) Some data points
concerning these nations indicate that this recession will be on par with that
of 2007-2008.
A rising tide raises all ships.
Similarly, a sinking tide lowers everything. Bear this in mind as a global
economic contraction will have severe implications for everything.
Beyond the global economy, we now face
sovereign and banking crises in Europe…’
http://albertpeia.com/dominationcontrolgrid.htm
{ First and foremost
clarification: There are no elite on this planet. The grim reality for this
planet is a dominant species descended from initially notochords, primitive
chordates, and relatively more recently, primitive apes.
See generally, http://albertpeia.com/anthroindex1.htm , for a brief but sorrowful history of man. }
Hostess gets court approval to liquidate Marketwatch
{ Alas, adieu sweet hostess. As a kid (as an adult as well but can’t afford
those calories and haven’t had them in years), truth be told, though I liked
twinkies with milk, preferably chocolate milk, I invariably opted for the
cream-filled chocolate cake, chocolate iced (with the squiggle on top) hostess
cupcakes; with plain milk, of course. The ‘golden-goose-killers’ strike again!
}
FACEBOOK RESPONSE:
Bob: I'm 100% behind law enforcement in their ever
more increasingly difficult task of law enforcement, in this ever more lawless
nation, particularly in meaningfully lawless new jersey. Unfortunately, when I
went to vote, I was asked to grant facebook broad 'authority' which as a matter
of internet policy (to prevent a multitude of problems, hacking, etc.) I don't
do (facebook's very politicized in a pro-wobama way and hooked into those
goldman frauds et als, on fraudulent wall street). Since wobama people do it,
you can put in an extra vote on my behalf. I'm currently stonewalled awaiting a
formal reply from the fbi inasmuch as I must account for my time wherever I
ultimately locate. Below is some recent posted commentary and a response to
Congresswoman Roybal-Allard as per her request (I did not receive a reply from
Sen. Feinstein regarding the aforesaid matters). Hope you and your family are
well.
Regards,
Al
Dianne Feinstein: No need to
debate Republican opponent... { Riiiight! Things are going so
swimmingly (as in drowning) for the nation and california particularly.
Actually, I responded to a ‘generic’ email / facebook request from her with my
subsequent request that she help to elicit a formal response from the FBI as
promised regarding the RICO matters (the other incompetent, failed perrenial
senator barbara boxer actually had ‘made her presence known’ in the corrupted
process regarding usdcj matz/lester and the default of the u.s. which missed
the filing date which error was compounded by the misstatement of the rule in
court on the record by asst. us attorney robert i. lester); but, no response...
http://albertpeia.com/selfdefense.htm [ One thing is certain from my own direct
experience { The unfortunate
reality is what I’ve alluded to in the context of my own direct experience;
viz., america’s ‘legal system’ is an illegal system used to cover-up crimes,
arbitrarily enforce laws to apply pressure, etc., and essentially run by the
inmates of this collective criminal entity called america: http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm } ; despite enormous amounts of taxpayer money
poured into the ‘federal system’, there’s relatively/proportionately very
little real significant results (an example would be the brutalizing of Martha
Stewart over a $45 thousand transaction while wall street frauds in the
trillions by the biggest players have gone unprosecuted). I believe reasonable
diligence requires self-reliance more than ever before in this nation’s
history; particularly when political correctness in some states prevents
calling a spade a spade to the substantial detriment of law enforcement! ]
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
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
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.”
Guest Post: The West Has Just
Become A Giant Banana Republic
ZeroHedge.com by Tyler Durden { Yeah! This really is too true for words!
It’s been my direct experience for
quite some time now and is quite a pathetic scenario! } Legal precedent means nothing. Rule of law means
nothing. Free speech means nothing. Their own treaties mean nothing. It’s
unbelievable. Anyone in the west who honestly thinks he’s still living in a
free society is either a fool or completely out of touch. If that seems
too radical an idea, consider that ECUADOR is now the only nation which
stands to defend freedom and human rights against an assault from the
United States, the United Kingdom, and their spineless allies. The west
has just become a giant banana republic. Have you hit your breaking point
yet? If not now… when? { { I’m really constrained to
interject my own direct experience with the FBI here; and, I must say I do so
lamentably. If you want no real results vis-à-vis organized crime which now
extends to the upper reaches, highest levels of the corrupt u.s. government, go
to the FBI. I discounted the new jersey FBI as just typical corrupt, mob
infested jersey which thinks in terms of discos/casinos. But, truth be told,
they never ask the ‘tough’ questions of the biggest criminals; ie., the biggest
wall street frauds, cia connected illegal ‘drug ops’ (ops…riiiiight), federal judges ie., trump barry, shiff,
alito, etc.; but, they did go after Martha Stewart in a very big way over a
$45,000 transaction. Wow! You can’t make this stuff up. I also don’t believe their
(understated) crime stats for even a second. I’m beginning to feel
foolish for having even put my full faith and trust in them, much less the ‘federal (judicial) system’ who share the ‘same employer’; and, despite my
antipathy for the mob, probably would have fared ‘more fairly’ with the mobsters
directly who seem to have at least some sense of the magnitude of the fraud
involved and the pervasive corruption of the system and government and maybe a
semblance of honor in this nation of protracted decline. It never would have
occurred to me back when for me, such a choice/decision was clear-cut and
simple. Such a course as mine I no longer could recommend inasmuch as there is
little difference between state/government sponsored crime/corruption and that
perpetrated by other criminal elements, from my direct experience with both,
infra: Debauchery: An American
specialty In the land
of Lindsay Lohan and Snooki, some federal workers reflect our culture all too
well. (Washington Post) [ Lindsay Lohan? Come on Mr. Milbank, hands off the low
hanging fruit. She’s totally harmless. Jersey ‘italian’ snooki? In mob infested
new jersey, who knows (one of the properties in my proceedings for which
surplus funds are unaccounted for was a top floor balconied 2 bedroom 1 and 1/2
bath condominium (beach/boardwalk front w/indoor pool/sauna) in seaside
heights, n.j. –10-31-12 Post Sandy: I’m wondering if it’s still there. ). But
debauchery an american specialty? Another rare instance wherein I agree with
Mr. Milbank completely. 25 Signs That America Is A
Seething Cesspool Of Filth And Corruption http://albertpeia.com/25signsamericacesspooloffilthcrimeandcorruption.htm . Review of flawed forensics
held close to vest
EXCLUSIVE | Documents and interviews show FBI and Justice Department officials
took steps to control information uncovered by a task force designed to examine
cases involving discredited agents. Many defendants were never notified of
flaws in cases. ‘Simply unconscionable’ (Washington Post) [ Well, I really have to say this.
I’m
awaiting word from the FBI as to resolution, one way or the other, concerning
the RICO matters which have been systematically and corruptly covered up by the
government (executive, legislative, and judicial branches of the pervasively
corrupt, defacto bankrupt u.s. government http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
) . Never in my wildest dreams would I have believed
the level and extent of corruption and criminality within the ranks of the u.s.
government before embarking upon this costly quest for justice and simple
fairness consistent with clear law (infra, regarding the u.s. government’s direct involvement in
the illegal drug trade). In this civil RICO matter, there are no innocent
bystanders; but rather, perpetrators, accomplices, and co-conspirators. When
the fbi agent initially assigned to this matter (Connecticut) abruptly
resigned/retired shortly after a conversation, though not central to my case,
wherein I had said that rudy giuliani’s father had been an (convicted) enforcer for the mob
(served 12 years? in prison, aggravated assault/manslaughter?) and then sent
him documentation owing to his disbelief. Though ultimately ineffectual
vis-à-vis my case, he was a likeable guy for whom I had and still have regard.
I then spoke with FBI Agent Jeff Rasey upon the aforesaid agent’s departure who somewhat
plaintively (‘my
call being a burden’) told me that ‘he was a Ford, and I was a Ferrari’, which he didn’t explain further. Could
anyone tell me what that means? Initially, at new jersey’s FBI office, I was ‘greeted’ by an FBI Agent who
sarcastically asked me whether I was ‘going to the disco that night’ (the documents including
sworn statements delivered to then u.s. attorney sam alito’s office in the same
building disappeared twice along with the initial assistant u.s. attorney
Jonathan Lacey with whom I had reviewed the documentary evidence, documents and
their probative value http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf . We all can infer sam alito’s reward / quid pro quo
for his cover-up by his current position on the u.s. supreme
court. There was never a question as to maryanne trump barry’s interest in corrupting
the judicial process as related to her brother’s (trump) casinos. Jersey
city boy louis freeh, labeled by former Prosecutor Larry Klayman as the most
corrupt FBI director ever (see infra, mueller seems no different, and certainly
holder’s
impeachable actions and corrupt behavior/cover-ups fit the mold, ie., fast and
furious, race bias favoring blacks, etc.) apparently covered up the RICO
violations as sent to him, and, with italian citizenship and lucrative insider
deals fits the bill. The FBI Agent Jeff Hayes of the Long Beach Office with
whom I reviewed the RICO documents and confirmed same as indicative of (drug)
money laundering was transferred shortly after meeting with him, as has been so
of FBI Agent Bill Lewis (promoted to Washington FBI headquarters) with whom I
discussed the RICO matter and case disks/dvd’s sent to the LA FBI
office (they printed the documents thereon, as per Agent Lewis), Steven
Martinez, ADIC, here in Los Angeles (see infra). So, as regards FBI flaws,
coverup, etc., I have to believe it based on my own experience and reasonable
inference. I’m
currently being ‘stonewalled’ by the LA FBI office since the departure of FBI
Agent Bill Lewis.
[ .. (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). http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
]
First
Ohio; Next 'The Moon'? Submitted by Tyler
Durden on 11/08/2012 While
markets are digesting the probabilities of a dramatic rise in taxes and cut in
spending as we approach the fiscal cliff, it appears that behind-the-scenes
there has been a secret plan that we can only imagine is designed to
rocket-boost us over the cliff - new manned missions to the moon. As Space.com
reports, NASA is serious about sending astronauts back to the moon's
neighborhood and will likely unveil its ambitious plans soon now that President
Barack Obama has been re-elected, experts say. They go on to comment that
"The space agency has apparently been thinking about
setting up a manned outpost beyond the moon's far side, both to establish a human presence in deep space and
to build momentum toward a planned visit to an asteroid in 2025. The new plans have
probably already been cleared with the Obama Administration but have been kept
under wraps in case Republican candidate Mitt Romney won Tuesday night's (Nov. 6) presidential
election." While the claims are that this will not increase the budget, we
suspect out-of-this-world manned outposts cost a little more than the $17.7bn
budgeted for NASA in 2013... someone is clearly eating space-cakes.
Ironic
really given our earlier post... {
Riiiiight! Sounds like a plan! After all, the new mooney gold and mooney
diamond mines on the mooney moon will pay for themselves and the mission … The reality though is a
new boondoggle to fleece the treasury/taxpayers…
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).
http://albertpeia.com/archives.htm
FBI Nazi
Bikers Bust FBI Nazi Bikers - What's Up At The FBI/DOJ?
Infowars.com | Now is the time to put an end to Obama’s
treasonous and tyrannical behavior.
http://albertpeia.com/impeachobama.htm
Wobama’s
Choom Gang Bangin’ { This brief video (11 mb) is well done and worth a
watch! }
http://www.albertpeia.com/wobamaschoomgangbangin.wmv
PAPER:
Obama's grandfather tortured by the British? A fantasy (like most of the
President's own memoir)... {
http://albertpeia.com/wobamaschoomgangfantasy.htm }
Drudgereport: Obama: 'Sometimes I Forget' Magnitude of Recession…{
Oh! How conveniently forgetful, though the vast majority of americans don’t
have wobama’s luxury of feigned amnesia suffering from what wobama did and
didn’t do contrary to promises last time around the perpetual campaign trail
littered with his typical jive-talking b***s***! The following headline will
help him remember some of his sordid, pot-clouded high school past! }...
FLASHBACK: Obama's Sordid High School Past...
By Ben Shapiro ‘While the Washington Post has been diligently
digging into relatively innocent high school pranks
by Mitt Romney, they’ve spent the last few years diligently ignoring President
Obama’s far more controversial high school days.Obama, by all accounts, was a
habitual drug user in high school. He tried cocaine, he admits in Dreams
From My Father; he “tried drugs enthusiastically.” The Chicago Tribune
reported back in 2007 that Obama thanked the “Choom Gang” in his high school
yearbook; “chooming” was Hawaiian slang for smoking pot. The Honolulu
Advertiser reported that Obama’s senior portrait “prominently displayed …
A package of ‘Zig-Zag’ rolling papers and a matchbook.” One of Obama’s close
friends was arrested for drug possession during high school.In his memoir,
Obama talked about routinely getting high. “Junkie. Pothead,” he wrote. “That’s
where I’d been headed: the final, fatal role of the young would-be black man.”
But, according to Obama, he only got high because he was contemplating deep
matters: drugs could “push questions of who I was out of my mind.” Obama told
students in 2007 that this activity constituted “goofing off” and “wasting
time”:"I will confess to you that I was kind of a goof off in high school
as my mom reminded me," Obama said. "I went to high school in
Cracks
in the Washington Post story on Romney’s ‘pranks’ emerge
Correction
Request: Washington Post Uses Falsehood in Romney Hit Piece
Media
Downplays Obama's Past, Tries to Define Romney with Teen Prank
If we're going to delve deep into a candidate's past, let's delve deep into a
candidate's past. Here's Obama in his own words admitting to physically shoving
a little girl named Coretta. Yes, it was at this moment that the first
shot in the War on Women was fired.
http://albertpeia.com/obamashovesgirl.png
No doubt that after expending all that energy
bullying an innocent little girl, young Obama readied himself for round two by
eating a Golden Retriever. More on this breaking story here.If
you're wondering what the rules are regarding a candidate's past; how far back
we're allowed to go in an attempt to define them -- the answer is simple: the
corrupt media will let us know.
Obama WILL NOT pursue gay marriage as part of party
platform...
STONE: 'Playing a
cruel and cynical game'...
Unites Republicans?
New Black Panther Niggers Plan Newspaper Cover With
Zimmerman In Noose { and civilized people everywhere should respond with
niggers in nooses and contributions to the Klu Klux Klan! } ...
LOONEY CLOONEYLAND: BIG CAMPAIGN BOXOFFICE FOR NIGGERO
– Meanwhile, looney clooneyland ain’t doin’ so well with the niggero model –
see next headline! ...
Failed Wobama model illustrated: 16 Reasons To Move Away From
Postal Service loses $3.2b in first quarter...
78% of
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{ some prior links of current interest
}