Business Summary Links By Day
Five
Charts That Prove We’re in a Depression and That the Federal Reserve and Washington
Are Wasting Money March 12, 2012 By gpc1981
http://albertpeia.com/usindepressionfedandgovwastingmoney.htm , Broken
Promises: Pensions All Over America Are Being Savagely Cut Or Are Vanishing
Completely .. this exact scenario is
playing out from coast to coast and in the years ahead millions of elderly
Americans are going to be affected by broken promises and vanishing pensions.. http://albertpeia.com/uspensionscutorvanishing.htm , America
Is Being Transformed From A Wealthy Nation Into A Poor Nation At Breathtaking
Speed America is losing wealth far
faster than any other nation on earth is. http://albertpeia.com/ustransformedfromwealthytopoor.htm
, As
US Rakes Largest Monthly Deficit In History, 2012 Tax Revenues Net Of Refunds
Trail 2011 Durden
3-12-12 , Guest
Post: The Audacity of Bonuses At MF Global Durden
3-12-12 In the spirit of George Orwell’s Animal Farm commandment: “all animals are equal, but some
animals are more equal then others” comes the galling news that bankruptcy
trustee, Louis Freeh, could approve the defunct, MF Global to pay bonuses to
certain senior executives. This, despite the fact that nearly $1.6 billion of
customer funds remains “missing” or otherwise partially accounted for, yet
beyond the reach of those customers, perhaps forever, since before the firm
declared bankruptcy on October 31, 2011... , The Greek PSI
Lawsuits Begin Durden
3-12-12 , Is
The ECB Masking Accelerating Deposit Flight In Italy And Spain? Durden 3-12-12 , Dave’s Daily: http://www.etfdigest.com INVESTORS WAIT FOR THE FED 3-12-12 ‘There’s
little to comment regarding Monday’s market action. Investors have absorbed the
Greek default (by any other name, it’s still a default) for now anyway. And,
not that you care, but new Greek bonds issued to those lucky private holders
are already being heavily discounted. In fact, as issued the yields were
already steep at 18% but they’ve already dropped to yield roughly 25%. What
bulls have mixed feelings about are the ongoing reductions in GDP estimates
from many economists with most cutting forward view to 1.5% to 1.8%., Yet
Another US Debt Infographic Durden 3-12-12 Probably the most amusing
thing about this latest US debt infographic courtesy
of FX Fatcat, which by now everyone has
seen in some capacity, is how out of date it is, as the latest debt is $15.518 trillion,
or $100 billion more than shown here in "March 2012." , Adding
Insult To Injury, Greek Gas Prices Are Now The Highest In Europe Durden 3-12-12
, 3
Charts On Not Buying The 'Global Recovery' Risk Rally
Durden
3-12-12 While 'good is good, and bad
is better'-market continues to price a higher and higher strike
price for Ben, Mario, and Xiaouchuan, the twin
(d)evils of energy and food price inflation could be tamping their enthusiasm
for their new-found experiment. Critically, for
all those 'hoping' for the pump to be primed and a self-sustaining recovery to
take hold, we present three charts to rain on that parade. Whether the world's central bankers come back to the table is unclear,
given their clear concerns at what they have done recently, but we suspect this
is much more a 'when' than 'if' question and given the performance of asset and
volatility markets, it seems this is more than priced in. , As
If There Was No Risk Tomorrow: Complacency Hits Record As VIX Craters Durden 3-12-12 , Market
Shorts At 4 Year Lows, In Hibernation For Second Straight Month Durden 3-12-12 , Jon
Hilsenrath Is Scratching His (And The NY Fed's) Head Over The Job Number
Discrepancy And Okun's Law Durden
3-12-12 , Mark
Grant On The Increased Risks of Owning European Sovereign/Bank Debt Durden
3-12-12 , View
From The Bridge: And They Think It’s All Over… Durden
3-12-12 So Greece has been saved – is that right? Well according to ISDA
(the International Swaps and Derivatives Association) a “Restructuring Credit
Event has occurred with respect to the Hellenic Republic”
which in the vernacular means the Greeks are bust; tell us something we don’t
know! The importance of this statement is that credit default swaps (CDS) on
Greek debt are now triggered and holders will have their losses made good.
There were any number of scurrilous rumours that ISDA
would not declare a credit event to preclude their illustrious members from
paying out, but when the net downside of $3 billion needs to be shared out
amongst the likes of Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs,
JPMorgan Chase, Morgan Stanley, UBS, BNP Paribas and Societe
Generale, then a quick whip round in the bar after
close of business and the jobs a good’un.,Encumbrance 101, Or Why Europe Is Running Out
Of Assets
Durden
on 03/11/2012 , Financial
Repression Has Come Back to Stay Mar 12th, 2012 15:24 by News (Bloomberg) — As they have before in the
aftermath of financial crises or wars, governments and central banks are
increasingly resorting to a form of “taxation” that helps liquidate the huge
overhang of public and private debt and eases the burden of servicing that debt.Such policies, known as financial repression, usually
involve a strong connection between the government, the central bank and the
financial sector. In the U.S.,
as in Europe, at present, this means
consistent negative real interest rates (yielding less than the rate of
inflation) that are equivalent to a tax on
bondholders and, more generally, savers. , China Trade Deficit
Spurs Concern Mar 12th, 2012 , Greek bonds
trade at distressed levels Mar 12th, 2012 , Is
Germany Actually Preparing To Leave The Euro? http://albertpeia.com/isgermanyleavingeuro.htm
, Half of
British Black Men Are Unemployed [ Yet, this is
totally understandable. ]The Independent | ,Welfare
recipients trade in food stamps for cash to buy illicit street drugs, weapons
Natural News | Some of the 46.3 million Americans currently enrolled in the
federal food stamp program traded their benefits for cash so they could then
purchase drugs and guns., GE’s
Immelt: Global Economy In ‘New Era’ Of Instability wsj.com | Expects interest
rates to stay low for an extended period. , U.S. Still Down 6
Million Jobs smartmoney.com | Damage to employment done by the Great
Recession is still far from repaired., Gas
prices sink Obama’s ratings on economy, bring parity to race for White House
Washington Post | Disapproval of President Obama’s handling of the economy is
heading higher — alongside gasoline prices., The
Fed’s Manipulation Of The Market Is Driving TrimTabs’ Charles Biderman “Even
More Nuts Than He Already Is” Zero Hedge | TrimTabs
Charles Biderman made waves for being the first
person on prime time financial TV to tell it how it is, namely that the Fed is
indirectly and directly affecting asset prices. http://albertpeia.com/zerohedgebiderman.htm
, Drudgereport: PAIN IN THE PUMP! 44 DOWN TO 41 Fed stress testing banks
against 13% unemployment, 50% drop in stock market... PAPER: Germany proposes a
'DRUDGE Tax'... [Sounds a bit ‘naziish’ to
me, in addition to very desperate] , Guest
Post: Money from Nothing - A Primer On Fake Wealth Creation And Its
Implications (Part 1) Durden
3-12-12 What is fraud except creating “value” from nothing and passing
it off as something? Frauds interlink and grow upon each other. Our debt-based
money system serves as the fraud foundation. In our debt-based money system,
debt must grow in order to create money. Therefore, there is no way to pay off
aggregate debt with available money. More money must be lent into the system to
make the payments for old debts. This causes overall debt to expand as new money
for actual people (vs. banks) always arrives at interest and compounds
exponentially. This process is called financialization.
Financialization: The process of
making money from nothing in which debt (i.e. poverty, lack) is paradoxically
considered an asset (i.e. wealth, gain). In current financialized
economies “wealth expansion” comes from the parasitic taxation of productivity
in the form of interest on fiat lending. This interest over time consumes a
greater and greater share of resources, assets, labor, and livelihood until
nothing is left. , The
Fed’s Manipulation Of The Market Is Driving TrimTabs’ Charles Biderman “Even
More Nuts Than He Already Is” Zero
Hedge http://albertpeia.com/zerohedgebiderman.htm March 12, 2012 ‘..as we have demonstrated with the now terminal
evacuation of faith by the retail investor in the gross manipulated stock
“market” which is nothing but a nominal
policy vehicle for politicians and bankers. Unfortunately, the endless lies and
propaganda are starting to push rational people who refuse to take the blue
pill, and who are fully aware there is no wizard, over the edge..’