Business Summary Links By Day

Business Summary Links By Day

The Bad Jobs Report Is Just A Very Small Taste Of The Nightmare That Is Coming http://albertpeia.com/badjobsreportsmalltasteofcomingnightmare.htm ‘…The tough stretch that we are going through right now is only a very small taste of the economic nightmare that is on the horizon. If you think that things are a "disaster" right now, just wait until you see what is coming.’ … The following is from a Zero Hedge summary of a recent presentation by Raoul Pal....

We don’t know exactly what is to come, but we can all join the very few dots from where we are now, to the collapse of the first major bank…
With very limited room for government bailouts, we can very easily join the next dots from the first bank closure to the collapse of the whole European banking system, and then to the bankruptcy of the governments themselves.
There are almost no brakes in the system to stop this, and almost no one realises the seriousness of the situation.
The problem is not Government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives…
Yes, that equates to 1200% of Global GDP and it rests on very, very weak foundations
From an EU crisis, we only have to join one dot for a UK crisis of equal magnitude.
And then do you think Japan and China would not be next?
And then do you think the US would survive unscathed?
That is the end of the fractional reserve banking system and of fiat money.

It is the big RESET.

It continues:

Bonds will be stuck at 1% in the US, Germany, UK and Japan (for this phase).
The whole bond market will be dead.
Short selling on bonds - banned
Short selling stocks – banned
CDS – banned
Short futures – banned
Put options – banned

All that is left is the Dollar and Gold

It only gets better. We use the term loosely:

We have around 6 months left of trading in Western markets to protect ourselves or make enough money to offset future losses.
Spend your time looking at the risks of custody, safekeeping, counterparty etc. Assume that no one and nothing is safe.
After that…we put on our tin helmets and hide until the new system emerges

So how soon does Raoul Pal think all of this is going to happen?....From a timing perspective, I think 2012 and 2013 will usher in the end. You can find his entire presentation entitled "The End Game" right here. What Raoul Pal is saying lines up very well with what Steve Quayle's anonymous international banking source is telling him....There is no stopping this...We are still on track as I have been predicting for a while now for a fall/winter collapse of the Eurozone and naked exposure of all derivative markets the world over. Europeans will go through a major reset, after time they will recover as Europeans do not carry the type of personal debt that Americans do. It is for America that I worry. Look for these signs next:

1- JPM will be bailed out again but it will not stop the coming market crash. More details will emerge about their derivative swap failure $150 billion and counting.

2-BOA (BAC Bank of America) will fold and be absorbed into JPM as a way to prop up the bleeding Giant. JPM will get the best picking of this deal just like they got with Bear Stearns.

3- Massive layoffs at Citigroup and Wells Fargo

4- Goldman Sachs finally pays the piper, look for massive cuts there as well as BIG Losses

5- Bond market bust which leads to freeze of all bond sales

6- Derivative bust the next one will be BOA followed by Citigroup

7- All CDS shorts and swaps will freeze.

8- Total Meltdown …’

"The End Game: 2012 And 2013 Will Usher In The End" - The Scariest Presentation Ever? http://albertpeia.com/endgamecollapse.htm , Dave’s Daily: http://www.etfdigest.com GLOBAL ECONOMIC DESCENT CONTINUES 6-1-12 ‘We could start by noting Chinese Manufacturing Growth fell to 50.4 vs 53.3 previously. Of course, that’s not impressive. The star of the show was the U.S. The nonfarm payroll data (aka unemployment report) laid an egg. Pundits forecasted growth of 150K jobs but less than half that (69K) was reported and the unemployment rate rose to 8.2%. And, this with so many falling off the employment rolls. Net downward revisions for March and April were 49K. The labor participation rate is low and means there are over 5.34 million people not be accounted for in the official unemployment rate, in other words counted as employed or unemployed, many who probably need a job and can't find one.That's in addition to the official 12.72 million unemployed. http://albertpeia.com/laborparticipationratechartfromdave.jpg In other news, Personal Income fell to .2% from .3% expected and previously. ISM Manufacturing Survey also fell to 53.5 vs 54 expected and 54.8 previously. Construction Spending rose but was slightly below expectations; .3% vs. .4% expected and .1% previously.In a nutshell this was a pretty awful day for bulls. But wait, what about QE? It’s still out there and could be instituted immediately after a telephone conference among voting members of the FOMC. Why wait until June 20^th? Or, don’t they want to demonstrate any panic? If they are panicked the PPT could always enter the fray and start buying stock index futures, but I know that would never (cough) happen. The WSJ intoned: “Some Fed officials might want to wait to see more data before making what would surely be a controversial decision to do more to spur growth.” Yeah, they’ll wait to they see the red on their offshore accounts before they act.Anyway, stocks gave in to selling driving indexes sharply lower. If we stay on the lows we could, barring intervention, gap open sharply lower Monday putting us in full capitulation mode. We’ll hear from the usual suspects like Buffett, Cramer and most talking heads CNBC trots out talking their book.Bonds (IEF) from highly regarded (thinking….thinking….) developed countries continued to rally driving yields down to record lows. Imagine buying the Japan 10 year bond for less than .75%! Swiss yields have gone grossly negative trying to keep panicky money from entering the country. Even Bucky (UUP) sold off some benefitting the euro (FXE) oddly but the yen (FXY) more. It’s a combination of a repatriation scramble and QE anticipation which is dollar bearish generally.Investors finally gave gold (GLD) a second look reasoning it as more of a safe haven than even Apple (AAPL). Gold soared more than $60 per ounce. Other commodity (DBC) prices continued to fall as economic data suggest weak demand.If you’re feeling down you can always buy a new car. That seems the thing to do nowadays to find some pleasure in the pursuit of happiness. After all, not many can qualify to buy a home, but cars are easy to buy as auto companies are self-financing. Besides, dealers are stuffed with inventory. U.S. major market indexes aren’t in a bear market yet with most down around 10% from recent highs but some are now negative for 2012. Some sectors and global markets (BRICs & Eurozone) are in bear markets and this contagion can easily spread.Volume Friday was heaviest in recent weeks and breadth per the WSJ was extremely negative. Wednesday was a 10/90 day with breadth and the same reading seems likely for Friday…’ , Obama Ordered The "Code Stux" ZeroHedge.com When Iran's nuclear facilities were publicly crippled in 2011 by what then was considered a revolutionary computer virus which destroys physical equipment, many immediately assumed the virus originated in Israel for obvious reasons. They were wrong. In what can be described as the first presidentially-mandated and condoned act of cyberwarfare, one circumventing the War Powers Act of course, the NYT informs us that the order to physically impair Iranian sovereignty came from none other than the Nobel Peace prize winning president: Barack Obama. , US Debt Soars By $54 Billion Overnight, Closes May At Record $15,770,685,085,364.10 , A Chinese Bank Run? , 2012 Just Woke Up In 2011 All Over Again , Guest Post: The Realities Of Choosing Your Survival Retreat Location , JPM Cuts Q3 GDP Forecast From 3% To 2% , Santelli And Kaminsky On Broken Rules, Unpredictability, and Deleveraging , Payroll Postmortem , ISM Miss Add To Economic Collapse Woes: 5 ISM Sub-Indices In Contraction Territory , Dow Jones Now Red For 2012 , Gold Explodes, Spam Unchanged , Teleportation To Swiss Safety Pushes Record Negative 2 Year Yield , US Tremor Now Hitting Europe Where Germany Is In Freefall , Gold's Surge, Stocks Purge, And Treasury Yield Records Emerge , NFP Huge Miss At 69,000 On Expectations Of 150,000; Unemployment Rate 8.2% , US construction spending +0.3% in Apr, below expectations of +0.4%, vs upward revised +0.3% Mar. , Sorry Folks, QE 3 Ain’t Coming… Even the Fed Doves Admit It http://albertpeia.com/contraindicatedqe3aintcoming.htm , The UN Wants Complete Control Over The Internet And That Would Mean Unprecedented Censorship, Taxes And Surveillance http://albertpeia.com/unwantscontrolofinternetforcensorshiptaxessurveillance.htm

Another 20 percent: How Low Will Facebook Go?

Washington Post | The biggest IPO scam in history still has a ways to go before it bottoms out.

‘Greek Drachma’ Appears On Bloomberg

Business Insider | There’s something called the ‘Greek Drachma (post Euro)’ that’s shown up on Bloomberg.

World stock markets plunge as global crisis deepens

London Guardian | Stock markets fall to their lowest level in 2012 as poor US jobless figures and weak manufacturing data from Europe renewed fears of a global slowdown.

Bank Run in Spain!

Prisonplanet.com | Spaniards alarmed by the dire state of their banks are squirreling money abroad at the fastest rate since records began.

China and Japan to begin direct currency trading

AFP | China and Japan will start direct currency trading on Friday asBeijing marks another stage on its journey to internationalise the yuan.

Top Hedge Fund: “The End Game: 2012 And 2013 Will Usher In The End”

http://albertpeia.com/endgamecollapse.htm

Zero Hedge | Top global hedge fund is painting a very dark picture for 2013

AP Business Highlights

...Yahoo Market Update…

Metal News for the Day

International Indices

Impeach Obama 2012. Join the National Campaign

Infowars.com | Now is the time to put an end to Obama’s treasonous and tyrannical behavior.

http://albertpeia.com/impeachobama.htm

Nancy Pelosi Wants to Amend the First Amendment Kurt Nimmo | When Pelosi says “special interests,” she means interests opposed to establishment Democrats. [ Here’s a look at the pelosi / wobama styled new california ( 16 Reasons To Move Away From California `http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm` ) . pelosi’s incompetent / senile in that chronological order. At this point, wobama the b for bs is just incompetent but acts and seems as if he’s senile, particularly with regard to previous things he’s said and prior promises that he’s made. ]

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 Hawaii, so there's a lot of opportunity to goof off because the weather is really good all the time …"You know, I made some bad decisions …. You know, got into drinking and experimenting with drugs. There was a whole stretch of time where I didn't apply myself. It wasn't until I got out of … high school, and went to college that I started realizing, man, I wasted a lot of time.”The New York Times, however, went out of its way to find Obama’s classmates to testify that drugs played only a “bit part” in Obama’s youth. Yet Obama would later brag on the campaign trail that he “inhaled frequently … that was the point.”During his high school years, Obama hung out with communist radical Frank Marshall Davis; in 2007, the Los Angeles Times reported that during his high school days, “he felt the first stirrings of anger toward whites. He says he also delved into black nationalism.” He was “offended or even enraged when white classmates adopted black street slang or revealed their underlying consciousness of his race by going out of their way to tell him how much they admired a black musician or athlete.” This activity is certainly more reflective of Obama’s ideological history than Mitt Romney’s pranks on teachers and fellow students. And as for the drug use – well, that seems just a bit more serious than walking a teacher into a door or cutting a student’s hair. But leave it to the Post to ignore or downplay all of that in favor of continuing stories about Romney’s dog, his high school hijinks, and whatever other nonsense they can use to protect President Obama from his own incompetence.’ Ben Shapiro is Breitbart News Editor-at-Large. Follow him on twitter @benshapiro.
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.
Washington Post Disgraces Itself By Targeting Romney's 'Anti-Gay' High School Pranks by Ben Shapiro { It is true! The once great now failed newspaper, the washington post, is an absolute disgrace! But a shadow of its former self, the post is biased presumably owing to shared desperation with the failed president wobama in return for access. So egregious had the bias become wherein ‘sensitive’ commentary antithetical to wobama and his, seldom seemed to work/post properly; and, then of course, the post’s pro-wobama perpetual darkness-induced blind ‘constituency’. I stopped posting there and have not visited their site since nor will I ever again. A rather pathetic swansong / end / wind-down / final chapter for what was once a great newspaper for which I had the utmost regard and respect! }
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 California http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm
Postal Service loses $3.2b in first quarter...
78% of California 8th graders fail national science test...

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{ some prior links of current interest }

A Warning Sign For The World http://albertpeia.com/warningsignfortheworld.htm, Inventor of World Wide Web Savages Government’s Big Brother Plans http://albertpeia.com/bernersleeantibigbrotherwebintrusion.htm , 16 Reasons To Move Away From California `http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm` , 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 , Soylent Pepsi is People http://albertpeia.com/soylentpepsi.htm Infowars.com | Ground up dead baby fetuses… just business as usual. { Well, let’s not kid ourselves; there’s likely canabalism in wobama’s line! How totally disgusting. I’ll never drink pepsi ever again! } New Obama Executive Order Pushes Us Closer To A North American Union And A One World Economic Systemhttp://albertpeia.com/wobamaexecorderforoneworldgovernment.htm { The truly astounding thing here is that without exception, these respective nations, from largest to smallest, can’t even manage themselves, their own nations properly, efficiently; and then there’s the inevitable corruption, ‘bigger and better?’. Come on! More obfuscation! In a world such as this, human nature being what it is, ‘bigger is definitely not better’! They’re pushing on a string! Time for accountability! Time to pay the piper! Additionally, people must come to grips with the reality that wobama hasn’t the slightest idea what he’s doing; hence, the over-vacationed teleprompter reader whose ‘handlers’ have literally taken over policy, with some ‘slick’ maneuvering to try and repackage him; ultimately to no avail inasmuch as his disastrous results at home and abroad speak volumes. If only he had done what he said he was going to do last campaign, this nation and the world would have been in a better position today! } ,Military Winning War Over Pensions Bruce Krasting 05/02/2012 Why is the Military Retirement Fund exploding higher? http://albertpeia.com/militarypensiondebacle.htm , This Is the First Time In History that All Central Banks Have Printed Money at the Same Time … And They’re Failing Miserably Washington’s Blog | Simultaneous Global Printing Is Failing Miserably. Why New York Times Economist Paul Krugman Is Partly Right But Mostly Wrong http://albertpeia.com/nyteconomistkrugmanwrong.htm , NBER's Martin Feldstein Bashes The Deplorable US Economy, Says Bernanke Has Engineered Another Stock Bubble Tyler Durden 5-2-12 , Hugh Hendry On Europe "You Can't Make Up How Bad It Is" , Biderman Makes Friends: "Bankers Are As Dumb As Politicians" , Guest Post: 3 Likely Triggers Of The Next Recession Durden [ We’re already in a (continued) recession, stupid; actually, depression. { 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…’ } ] , Zuckerman To CNBC: "The Recession Never Ended" 8 Reasons Why The Greek Debt Deal May Not Stop A Chaotic Greek Debt Default http://albertpeia.com/8reasonsgreekdebtdefaultstillcoming.htm , 55 Interesting Facts About The U.S. Economy In 2012 http://albertpeia.com/55factsaboutus2012economy.htm , http://albertpeia.com/debtpercapita.jpg , Double-dip recession setting in across eurozone: EU , America 1950 vs. America 2012 http://albertpeia.com/downhillslideofamerica.htm , Society’s Five Stages of Economic Collapse http://albertpeia.com/5stagesofcollapse.htm , No Housing Recovery - Case Shiller Shows 8th Consecutive Month Of House Price Declines Durden , Goldman: Germany Is Now On The Hook By €1 Trillion (Or 40% Of GDP) Durden, , 20 Economic Statistics To Use To Wake Sheeple Up From Their Entertainment-Induced Comas http://albertpeia.com/20ecostatstowakesheeple.htm , Central bank balance sheet expansion since end 2007 Mar 1st, 2012 by News (ZeroHedge) — SNB +230%; Fed +222%, BOJ +125%, BOE +87%, PBOC +93%, ECB +51%. USA Gold / PG View: Pretty strong evidence that the rally in bonds — and by extension the rally in stocks — is nothing but a charade. , 10.7 Percent: Unemployment In Europe Is Worse Than It Was At The Peak Of The Last Recession http://albertpeia.com/europeunemploymentworsethanrecession.htm , Inflation Is A Tax And The Federal Reserve Is Taxing The Living Daylights Out Of Us http://albertpeia.com/inflationisatax.htm , 15 Potentially Massive Threats To The U.S. Economy Over The Next 12 Months http://albertpeia.com/15massivethreatstoeconomy.htm , 1 Through 30 – The Coming U.S. Financial Crisis By The Numbers http://albertpeia.com/1-30usfinancialcrisiscoming.htm , Greece Has Defaulted - Which Country In Europe Is Next? http://albertpeia.com/greecehasdefaultedwhonext.htm , Five Charts That Prove We’re in a Depression and That the Federal Reserve and Washington Are Wasting Money gpc1981 http://albertpeia.com/usindepressionfedandgovwastingmoney.htm , Broken Promises: Pensions All Over America Are Being Savagely Cut Or Are Vanishing Completely .http://albertpeia.com/uspensionscutorvanishing.htm , America Is Being Transformed From A Wealthy Nation Into A Poor Nation At Breathtaking Speed http://albertpeia.com/ustransformedfromwealthytopoor.htm , ECRI Stays with Recession Call New American | The vicious cycle is starting where lower sales, lower production, lower employment and lower income [leads] back to lower sales…BOB ADELMANN New American Tuesday, March 13, 2012 http://albertpeia.com/ecricallsrecession.htm , Consumer prices rise on high gas costs But outside higher pump prices, inflation stayed mild. (Washington Post) [ Wake up! They’d have a hard time denying what’s in plain sight for everyone to see. Yet, apparently they’ve not gone grocery shopping lately; you know, all that catered food for fools in Washington. , 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…’ , Conned 2012: Joseph Kony Is A CIA Contractor [ Yeah, cia, mossad, kony, they look like and are a bunch of spooks. ] Saman Mohammadi | Former European MP, journalist, and author Richard Cottrell says Lord Resistance Army is backed by CIA and Mossad. , 11 Reasons Why America Would Be A Better Place Without Goldman Sachs [ If only it was just 11 and not an endless number of reasons why the aforesaid is true! And, though america particularly, not just america, but the entire world as well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.com , The Obama Flag: Who Decided That It Was Okay To Replace The Stars On The American Flag With The Face Of Barack Obama? http://endoftheamericandream.com http://albertpeia.com/monkeyflag.htm [Aside from the desecration issues, from a purely aesthetic perspective, that picture on the flag of that ugly monkey obama is an absolute disgrace and affront to any rational person’s aesthetic sensibilities!] , Who Decided That It Would Be A Good Idea.... http://albertpeia.com/misplacedfaith.htm , Chimps Throwing Poop And 29 Other Mind Blowing Ways That The Government Is Wasting Your Money http://albertpeia.com/whydochimpslikeobamasthrowpoop29waysgovernmentwastesmoney.htm , Failed Wobama model illustrated: 16 Reasons To Move Away From California `http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm ,` No Housing Recovery Until 2020 In 5 Simple Charts
http://albertpeia.com/nohousingrecoveryuntil2020in5charts.htm Durden `,`The Mother Of All Infographics: Visualizing America's Derivatives Universe http://albertpeia.com/usderivatives221trillionof707trillionglobal.htm , Fasten Your Seatbelts: High Frequency Trading Is Coming To The Treasury Market `[` http://albertpeia.com/highfrequencytradingcomingtotreasuries.htm , As US Rakes Largest Monthly Deficit In History, 2012 Tax Revenues Net Of Refunds Trail 2011 Durden, 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., Guest Post: Money from Nothing - A Primer on Fake Wealth Creation and its Implications (Part 2) ZeroHedge.com 3-14-12 Only in a debt-based money system could debt be curiously cast as an asset. We’ve made “extend and pretend” a quaint phrase for a burgeoning market for financial lying and profiteering aimed toward preventing the collapse of a debt- (or lack-) based system that was already doomed by its initial design to collapse. , 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... ,