Wall Street Lunacy 2006

Current Topics 2006

Financial Lunacy 2006

Wall Street Lunacy 2007

Wall Street Lunacy, 1st Quarter, 2009 Archive

Wall Street Lunacy, 2nd Quarter, 2009 Archive

Wall Street Lunacy, 3rd Quarter, 2009 Archive

World Indices Weekly Closing Prices

Wall Street Lunacy, 1st Quarter, 2008      

Full Moons, Fraud, and Lunatics. What More Can Be Said.

Wall Street Lunacy, 2008 Archive

Background to the Current Economic Crisis from Al Peia

Al Peia Summary

Current Market Numbers/Closing Prices From Yahoo

NEWS FLASH: Direct from Lost Angeles Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now caleefornia mob fame with his continuing message for the past several years: buy real estate (and watch the values go down…..riiiiight!).
Bank sues Trump over Chicago tower loan...
Trump casino to miss interest payment...
trump’s fired

Gunfire Erupts Inside trump Taj Mahal Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With Employee Killed – What else would you you expect from a mobster’s casino in mob-infested jersey!

Trump luxury resort folds, leaving buyers defrauded…litigation has commenced…send for sister maryanne, the corrupt federal judge to preside, coverup, etc., she’s in n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud and handles her own motions to recuse her and like mobster trump should be in jail  ... (see RICO Case)

(1-29-10) Dow  10,067 -53 Nasdaq  2147 -32  S&P 500  1,074 -11 [CLOSE- OIL $72.89 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.76 (reg. gas in LAND OF FRUITS AND NUTS  $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08  DIESEL)/ GOLD $1,080  [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $16.19 (+47% for year 2008) PLATINUM $1,501 (+56% for year 2009)  / DOLLAR= .72 EURO, 90 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.61% …..…     AP Business Highlights …           ...Yahoo Market Update... ]  T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies -  Domestic / International         01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                      This Depression is just beginning     The coming depression…  thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Recession  ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME! [ Shadowstats’ John Williams: Prepare For The Hyperinflationary Great Depression     Roubini: 'The worst is yet to come'...    Top Eurobank prepares for 'global economic collapse'...      CHINA: ‘The world does not have Money to buy more US Treasuries’    We Have Reached the Top of the Stock Market (Charts/Analysis/Article 1-19-10)       Marketwatch: U.S. stocks held their gains following the release of the home builders' sentiment index, which declined in January as industry leaders remained concerned about the poor job market and the continuation of home foreclosures. Read more about the sentiment survey.         It’s Time to Sell the Market…(1-19-10 Why wait till too late?) … This means closing out some longs for a profit, or at least taking some money off the table. This also means considering what one would do if stocks were to stage a significant reversal. The fact that corporate insiders are selling their stakes in record numbers and that fewer and fewer investors are participating in this rally makes a massive reversal probable rather than possible this year!...      THE NUMBER: DEC. -85,000 JOBS... 10%...     'WORSE THAN EXPECTED'...    rallies stocks anyway  (they probably just didn’t bother resetting the computerized churn-and-earn trade programs)  /  the new carry-trade borrow low then buy bubble   trade deficit up /  US Will Hit 94% Debt to GDP Ratio Next Year, Surpassing the Level Where Debt Starts Reducing Economic Growth        Shrinking US Labor Force Keeps Unemployment Rate From Rising … Negative data spurs market rally … riiiiight!  New jobless claims rise 'more than expected'...     Retail sales drop in December; Sales for all of '09 plunge by record amount...     Record year for foreclosures...   Worthless Weimar dollar, inflation, unsustainable debt, higher interest rates, and fake numbers rally stocks    Food Stamps Go to a Record 37.2 Million, USDA Says Bloomberg …S&P sells on a price-to-earnings multiple of 88 after the recent financial results. That is a horrendous overvaluation. A reasonable p/e would be around 18-25…’ Economist Wachtel says practices that caused crisis in play, toxic assets still there, and economically sound lending not viable  …El-Erian who oversees nearly $1 trillion in assets, more than the gross domestic product of most countries, says stocks will drop 10 percent in the space of three or four weeks, bringing the Standard & Poor's 500 index below 1,000 soon…  Breaking Point 2010: Top Trends with Gerald Celente …DO YOU THINK IT IS POSSIBLE IN 2010 FOR THE UNITED STATES TO END UP AS BADLY AS ARGENTINA A DECADE AGO? “Worse! Worse than Argentina because our debt problems are worse. This is classic empire decline. Argentina was not even an empire. We’re fighting wars in foreign countries as we are depleting the Treasury .…That’s why we are calling it:    Breaking Point 2010!”  Peter Shiff: Economic collapse in near future / 2010, coming decade worse than past decade Last decade was the worst ever in the stock market  Jay Bookman | In nearly 200 years of recorded stock-market history, no calendar decade has seen such a dismal performance as the 2000s.    Foreclosure / distressed sales up again and a lunatics’ santa claus rally as in bubble-crashes past  WITH NEW BUBBLE IN THIS PREPOSTEROUS AND FRAUDULENT ENVIRONMENT WITH CONTINUED SUCKERS’ COMPUTER PROGRAMMED /SHORT-COVERING /BEAR MARKET RALLY (ON TRADE DEFICIT UNEXPECTEDLY UP MORE, CONSUMER CONFIDENCE UNEXPECTEDLY DOWN MORE, DYING DOLLAR, MUCH WORSE THAN EXPECTED 10.2% UNEMPLOYMENT RATE, EVEN MORE FAKE GOVERNMENT REPORTS, NEW RECORD DEFICIT 1.42 TRILLION, HIGHER OIL PRICES, EVER MORE WORTHLESS DOLLAR, CRASH IN COMMERCIAL REAL ESTATE, INCOME/CONFIDENCE DOWN, B.S. SERVICE SECTOR MEANINGLESS REPORT, LOTS OF FORECLOSURE SALES) BASED ON FAKE DATA [WATCH FOR CORRUPT GOV’T, IE., COMMERCE DEPT (GDP +3.5% BEATS ESTIMATES-HAS BEEN PREVIOUSLY DISCOUNTED MANY TIMES OVER), ETC., FALSE REPORTS TO FROTH MARKET], BAD DATA (JOB LOSSES UP, BANKRUPTCIES UP 41%,  CAR SALES / MANUFACTURING DOWN, ETC.), BULL S**T (IE., MERGER MANTRA-LIKE CHURN AND EARN COMMISSIONS GREAT FOR WALL STREET FEES BUT BAD FOR EVERYONE ELSE ESPECIALLY SINCE LEADING INDICATORS WITH B.S. STOCK COMPONENT THE ULTIMATE BOOTSTRAP, MORE WORTHLESS WEIMAR DOLLAR, ETC.), BETTER THAN EXPECTATIONS MANTRA  (Paul B. Farrell: America's soul is lost and collapse is inevitable    Recession Will Be ‘Full-Blown Depression’:(10-17-09) Strategist/Analyst           The History of the Future: Trends 2012  Autumn 2012, the “Greatest Depression” has spread worldwide  …   5 DISTURBING FACTS FOR BULLS     David Weidner's Writing on the Wall: Taking the inside path to new bubble and fraudulent gains wall street frauds as before they tout multinational currency translation for window dressing but quality of earnings and prospective growth and stability in doubt and already discounted and substantially overvalued   s     Another Financial Bubble Comes Into View    Oil price hits new high for 2009      Gold at $2,000 Becomes Inflation-Adjusted Bullseye for ‘80 High  ) [We Are in Deep Trouble: We are Going to See New Lows in The Markets    The Recession Is Far from Over     Portfolio Manager Says Dow Will Fall To 6,300 By Year End    Classic Market Bubble       October ‘Crash’ Still on the Way: CEO   Max Keiser On JPMorgan, Goldman Sachs Et Al’s Fraud       Goldman Sachs Operative Hired as SEC Unit COO              October: High Risk for Bulls  …The big, smart traders will use any buying from the public to sell into. After all, the stock market has rallied on fumes, hopes and expectations. It will be the typical case of "selling on the news."…    U.S. Stock Markets Disconnected from Reality     U.S. Foreclosure Filings Jump 23% to Record in Third Quarter      1929 And Today - Sobering Parallels Abound         Dollar loses reserve status to yen & euro         Dollar drops to 14-month low; commodities rise    Rothschild Biographer: Dollar Will Suffer Long, Protracted Death       Major U.S. banks and securities firms on route to award record pay in '09, despite the damage they caused from their yet unprosecuted fraud and the change back to old FASB fraud facilitator ‘mark to anything they want’ accounting: report      Jim Rogers “Quite Sure” Gold Will Hit $2000, Dollar Will Lose Reserve Status       Goldman Sachs 2009 bonuses to double 2008’s; $23 billion could send 460,000 to Harvard, buy insurance for 1.7 million families       A second Great Depression is still probable Financial Times      Gold Jumps to Record as Inflation/Worthless Dollar Outlook Fuels Investor Demand     Robert Fisk on the Gulf ‘Ditching the Dollar’ AlJazeera | Report suggests a move to the Japanese Yen, Chinese Yuan, and the Euro.    The 'Buy Anything' Market  It's the "buy anything market" brought to you courtesy of the destruction of your currency…      Defaults on Credit Cards Climbed to Record 11.49%...          It Is Going To Be A Rocky Road Chuck Baldwin | America is on the verge of total financial collapse.   The Economy is a Lie, too Paul Craig Roberts | The worst part of the decline is yet to come.   BULLISH STANCE IS WEARING THIN         WAY TOO MUCH RISK IN THE EQUITY MARKET        Mark Hulbert (9-22-09): Corporate insiders selling at faster pace      The stock market rally is just another bubble — and it’s set to pop      Marc Faber Says U.S. Government Will Fail in 5 to 10 Years     Push For New Global Currency At G20        HSBC bids farewell to dollar supremacy      US To Face ‘Armageddon’: China, Japan Can’t Keep Buying Worthless Debt             Senator Sanders: “Don’t Believe Anybody Who’s Telling You ‘The Recession is Over’ ”             FDIC May Tap Fed Treasury Funds     State Unemployment Keeps Rising; Three Hit Record Highs     John Browne…And the markets just don't get it. Technically, S&P profits are down some 90 percent, but the Index has risen to push P/E ratios to levels not seen since 1929.    Bernanke Says Recession Over. Should You Believe Him?  Barry Ritholtz | Based on his track record as a forecaster and his acumen in identifying economic problems before they exploded, his views on starts and finishes of recessions are, to be blunt, irrelevant.  Entering the Greatest Depression in History Andrew Gavin Marshall | The economic crisis is anything but over, the “solutions” have been akin to putting a band-aid on an amputated arm.     Roubini Sees Stock Declines as Soros Warns on Economy      Expect Economic Stagnancy, If Not Worse, for Years to Come  Obama referred to Friday's jobs data, a loss of 263,000 jobs (roughly 100,000 more than economists expected) as sobering. Well, I agree, but to say it was unexpected is to buy into those that thinks we are in recovery phase. To me we are in the lull before the storm. By the way, of over 80 economists surveyed, none, not one, predicted the number to be as high as 263,000. That reality is sobering. But if you really want something sobering, I suggest the following link. As the author points out, if you are expecting consumers to start spending more money for an economic rebound then you are sadly mistaken. They are already spending at very high (record) levels in terms of a percentage of personal income and as a percentage of GDP. And even that is not really lifting us out of this recession absent government support. Even though consumers are pretty much spending as much as they can, the economy is still struggling. So I don't expect things to improve from here. And as this piece points out, we are in for a world of hurt due to the size of the private debt that has built up.          Charts Predict Downside for the Markets       Shorting the Double Dip   The double dip has begun…  The reported unemployment number is 9.8%; real unemployment is 20% if you include those who have stopped looking and part time workers wanting to work full time. And the labor force participation rate is at a 23 year low...      The Recovery That Isn’t  Peter Schiff | Americans are once again taking the government’s bait by spending money they don’t have to buy things they can’t afford.     Dangers, Failures, Diversions and Shortfalls  Bob Chapman | Yes, too big to fail is still in vogue, just as it was in the 1930s.       The Real Reason the Giant, Insolvent Banks Aren’t Being Broken Up       US Lost Credibility by Saying Banks Were Healthy, Audit Says      World Bank and IMF join global attack on the dollar Larry Edelson | Washington has no choice but to devalue the dollar — and how global leaders and even the United Nations have joined the attack on the greenback by demanding it be replaced as the world’s reserve currency.     US economic decline forges new world order Agence France-Presse | “The American engine is not as strong as it was before,” IMF managing director Dominique Strauss-Kahn said in a speech.      Expert on Structured Finance and Derivatives Gives the Big Picture  Wall Street disguised these toxic “investments” with new value-destroying securitizations and derivatives. Meanwhile, collapsing mortgage lenders paid high dividends to shareholders (old investors) and interest on credit lines to Wall Street (old investors) with money raised from new investors in doomed securities. New money allowed Wall Street to temporarily hide losses and pay enormous bonuses. This is a classic Ponzi scheme…         300 Members of The House Support Audit the Fed       Roubini: Stocks, Commodities Have Risen 'Too Much, Too Soon, Too Fast'...       TARP Boss Plays Soft Ball with the Banksters Kurt Nimmo | The “gigantic train of crime” is rolling again and it will be far worse than it was in 1929 and the 1930s.       Study: Bernanke, Paulson misled public on bailouts      Euro Banks May Have to Raise $78 Billion: JP Morgan     U.S. Suffering Permanent Destruction of Jobs        HSBC Chief Warns of Second Downturn: Report        Unemployment to Rise Through Most of 2010: Roubini  Key Reversals on September 23 Started the Return of the Bear        Central Banks Continue to Reduce Their Share of Dollar Reserves        IMF Growth Forecast: Cause for Concern, Not Optimism  In a climate where economic planners and market participants are desperate       Market Rally Exaggerates Reality     Plunging Pensions: Taxpayers Below        Some Scary Implications of US Debt          Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman       “Everything the US has done since the crisis is wrong” – economist     US credit shrinks at Great Depression rate prompting reality of double-dip recession        Ron Paul: Federal government ‘one giant toxic asset’         Bankster Bailout Did Nothing to Solve Problem, Crisis Now Worse          16 Reasons for Equities Markets to Fall Soon      WHY THE BULLS ARE SKATING ON THIN ICE      Treasury: Millions more foreclosures coming        Forbes Reports the Dollar Has Collapsed       PAPER: AMERICA 'FACES ARGENTINA-STYLE FALL'...       Forbes Reports the Dollar Has Collapsed     Predicting Worse Ahead from America’s Economic Crisis     3 more bank failures bring 2009 total to 92      WHITE HOUSE ECON ADVISER: HIGH UNEMPLOYMENT FOR YEARS TO COME...      The Coming Consequences of Banking Fraud           Job losses slow if you believe their fake numbers (they revealed prior better than expected numbers which previously rallied stocks, were indeed not better than expected in fact, and then rallied them again); jobless rate at 26-year high     We are reminded of Japan where rates were microscopic for years and the Nikkei certainly did enjoy no fewer than four 50% rallies and over 420,000 rally points in a market that is still more than 70% lower today than it was two decades ago ,  The market is basically discounting an earnings stream that even the consensus does not see for another two to three years  ], EVER MORE WORTHLESS WEIMAR DOLLAR, INCREASED FORECLOSURE SALES AND BEN (HE STILL HAS A JOB - AS AMERICANS LOSE THEIRS) BERNANKE BULL S**T (REMEMBER HIS NO RECESSION TALKS, MANY OF THEM, TO FROTH THE MARKET THEN AS NOW AND HOW MANY SUCKERS’ POINTS TO THE UPSIDE THEREFROM – WHAT TOTAL BULL S**T, WHAT FRAUDS!) EVEN AS ECONOMIST KELLNER JOINS THE RATIONAL CROWD SAYING ECONOMY WILL COLLAPSE UNDER ITS OWN WEIGHT IN 2010 AND CONTINUED BAD NEWS [ INSIDERS ARE DUMPING STOCK   Insiders Selling Stocks at Highest Level Since May 2008 (8-31-09)         INSIDERS CONTINUE TO SELL, SELL, SELL (AT SEEKING ALPHA 8/13/09)      PAPER: FRESH ALERT ON GLOBAL STOCK MARKETS...    The Great Depression and Today - Sobering Parallels Abound         Roubini: “When Governments Reach the Point Where They Are Borrowing to Pay the Interest on Their Borrowing They Are … Running a Ponzi Scheme”      Economic Collapse: Bank Runs, China, Peter Schiff, Gerald Celente, Max Keiser   Oldest Swiss Bank Wisely Tells Clients to Sell U.S. Assets or Leave   Looming Global Debt Crisis    Congressman Grayson: Fed Secretly “Stuffed” $500 Billion into “Foreign Private Pockets” and Gave $230 Billion to Citi “As a Secret Bailout”       Ron Paul: End the Fed, Save the Dollar       Gerald Celente: There is No Recovery     Madoff Files: A Chronicle of SEC Failure       US jobless soars as companies squeeze workers   US jobless soars as companies squeeze workers        Food stamp list soars past 35 million...  and New record; up 22% from '08...      Fairy Tales of Recovery, Reality of More Failures         Goldman Sachs Wrong on Economic Recovery, Macro Hedge Funds Say       The Coming Deposit Insurance Bailout   Five banks closed by U.S. regulators with 89 total closures         Russian Professor: Collapse Of America Could Begin In Two Months       The $531 Trillion Dollar Derivatives Time Bomb       Dollar Is Funny Money in Push for World Currency: Kevin Hassett    Commercial Real Estate Next Mortgage Crisis     Federal Reserve made $14 billion on turmoil loans           Banks' struggles have worsened...       Lehman claims could reach $100 billion: PwC       [$$] Raft of Deals for Failed Banks Puts U.S. on Hook for Billions (at The Wall Street Journal Online)         Three more banks fail; 2009 total hits 84             Goldman "Trading Huddles" Expose Fiction of Level Playing Field      1,000 Banks to Fail In Next Two Years           AP sources: $2 trillion higher deficit projected (AP)   Judge Orders Fed To Disclose Who Received Bailout Trillions      Zero Hedge Claims that the Federal Reserve ITSELF Traded Over a Trillion Dollars Worth of Derivatives in March Alone           Geithner: Auditing the Fed is a “line that we don’t want to cross”     The Federal Reserve Must Die      “True Deleveraging Has Not Begun Yet Because Losses of Financial Institutions Have Been Socialized”        Obama Predicts Unemployment, Deficits Far Worse Than Previously Stated...     Grim...     "Artificially Sweetened" Market Could Face "Seismic Readjustment," Harrison Says      Official: Real unemployment rate at 16%...      WSJ: Dollar Steadily Losing Influence...    Senator warns of hyperinflation...     Failed banks mount; Ga, Ala, and large Texas banks shut    Learn to Love the Depression       US jobless claims in surprise jump for second week      WHY DO EQUITY MARKETS DISAGREE WITH THE DATA?      Brookings “Experts” Admit Stimulus a Bust         Analyst warns of 150-200 more U.S. bank failures       Government Revises Deficit Estimates Again: We Will Exceed Expectations        Manufacturing Jobs Drop To Lowest Level Since 1941      What rebound? Foreclosures rise as jobs and income drop    Fed to Steal State Pension Funds          IMF Says You’ll Have to Pay More Taxes      The risk of continuing depression rising             CALPERS IS UNSUSTAINABLE        What rebound? Foreclosures rise...         Grab Your Shorts, The Correction Has Begun          THE SECOND WAVE OF THE DEPRESSION: HYPERINFLATION IS LIKELY      THE FDIC IS BROKE. NOW WHAT? (PART II)     DOLLAR TO DECLINE AMID CONCERN AS IT 'LOSES RESERVE STATUS'...      JOBLESS SPIKE COMPOUNDS FORECLOSURE CRISIS            STOCKS SLIDE ON ECONOMY CONCERN    WORLD STOCKS, OIL TUMBLE ON U.S. FRAUD EXPOSURE AND CONSUMER WORRIES     Connecticut Not Learning the Right Lessons from California       Weekly Market Outlook: Commercial Real Estate Continues to Deteriorate         Retail sales fall, new jobless claims rise (Reuters)     US Home Foreclosures Set Another Record in July    Colonial BancGroup shut down by federal officials (largest bank failure this year) (AP)       Economist: Claim that Economy Has Recovered “Is Like Somebody Borrowing Money from Their Uncle and Then Celebrating that Their Income Has Gone Up”    ]  PERSONAL & BUSINESS BANKRUPTCIES UP, WORTHLESS WEIMAR DOLLAR DOWN, FORECLOSURES UP (32% YOY AND 7% MOM AT NEW RECORD, 50% HOMES UNDERWATER, COMMERCIAL TO FOLLOW), CONFIDENCE REALISTICALLY DOWN, $100+ OIL AROUND CORNER (2010-HOGAN); HILLARY KRAMER-10% CORRECTION, CELENTE-DEPRESSION NOW UNDERWAY  Bob Prechter Quite Sure Next Wave Down Will Be Bigger and March Lows Will Break    Gerald Celente 2.5 Million Jobs Lost Since Obama’s Presidency   PAPER: Fresh alert on global stock markets...  TO KEEP SUCKERS SUCKERED [     Insiders Continue to Sell, Sell, Sell (at Seeking Alpha – 8/13/09)          (7-29-09) Insiders Selling at Alarming Levels        Insiders Exit Shares at the Fastest Pace in Two Years  ] AND COMMISSION DOLLARS FLOWING [Tarp banks award billions in bonuses...     Goldman Sachs on pace for record bonuses: report (Reuters)   Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly  Max Keiser: Prosecute the Bankster Crime Syndicate   The Market's Horoscope: Downside Correction   ! [  Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008.     Geithner asks Congress for higher U.S. debt limit      U.S. regulators close 3 banks, total now 72     US deficit climbs to 1.3 trillion dollars    This Depression is just beginning        The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s.      Feds Hit With Biggest Tax Revenue Drop Since 1932...       The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go…    An Artifical Recovery       [$$] Why I Went Fully Into Cash     Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break         A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY'  Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality.  Most of the enthusiasm comes from another string of corporate quarterly results which “beat expectations”. I had hoped that the sheep were starting to clue-in to this silly game, however it appears there is a still a large pack of Pavlov's Dogs out there – who respond to their propaganda cues without a moment of actual thought. The truth is that all of the companies “beating expectations” are still reporting steadily worse results year-over-year – and in many cases, much worse results. Among the few exceptions are U.S. financial corporations. However, since accounting-fraud was legalized in the United States (see “FASB strong-armed into mark-to-fantasy accounting”), their bottom-lines have had absolutely no connection to their business operations… The Real Economy Versus the Make-Believe World of the Government and Financial Giants  In the real economy, unemployment is at Depression-era levels.     Top firms' pension funds plummet    Consumer bankruptcies jump 34%    Nine Of Ten Sectors Overbought      This Depression is just beginning   US companies axe 371,000 jobs in July       Half of U.S. mortgages seen underwater by 2011...     Recovery ‘not in sight’ says BMW    ] CONTINUED FRAUD WITH PROGRAMMED SUCKERS’ RALLY DESPITE NEW RECORD FOR CONTINUING UNEMPLOYMENT CLAIMS AT 6.3 MILLION AND AS I WARNED, WATCH FOR FAKE REPORTS IN DESPERATION – AND LABOR DEPT. CAME THROUGH WITH FAKE REPORT AND NEW LIE BASED UPON PEOPLE STOPPED LOOKING FOR JOBS SO THEIR RATE 9.4 BUT OBAMA SAYS 10% - REALITY IS UNEMPLOYMENT RATE IS WELL OVER 10%, THEN AIG SOARS ON “PROFIT” WITH $87 BILLION IN TAXPAYER FUNDS TO PLAY WITH  [  Max Keiser: Prosecute the Bankster Crime Syndicate   Insiders Continue to Sell, Sell, Sell (at Seeking Alpha)      PAPER: Fresh alert on global stock markets...    Retail sales fall, new jobless claims rise (Reuters)     US Home Foreclosures Set Another Record in July      (7-29-09) Insiders Selling at Alarming Levels …Although the level of insider selling is certainly alarming it's important to note that the very low levels of buying are particularly alarming. Insiders sell stock for many reasons, but they generally only buy stock for one reason: they believe the stock is going up. Despite the fact the media is reporting an end to the recession, a bottom in housing and a trough in earnings we are seeing a vote of zero confidence from the people who know these companies better than anyone else…  Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008.     Geithner asks Congress for higher U.S. debt limit      U.S. regulators close 3 banks, total now 72     US deficit climbs to 1.3 trillion dollars    Causes of This Depression Yet To Be Addressed   Further impoverishment is on the way. More and more will be laid off and they’ll be no new jobs available. Savings will be exhausted and most homes that have been financed will be under water.   Some banks paid bonuses bigger than income: o     This Depression is just beginning    You read that right! Only $400 billion of that fantastic 6 month “green shoots” stock market rally came from money market accounts. The rest ($2.3 trillion) was laundered through the banks and other financial institutions to create the appearance of recovery and to raise equity for underwater banks rather than forcing them into receivership (which is where they belong) Bernanke probably knew that congress wouldn’t approve another TARP-type bailout for dodgy mortgage-backed assets, so he settled on this shifty plan instead. The only problem is, the banks are still broke, business investment is at historic lows, consumers are on the ropes, the unemployment lines are swelling, the homeless shelters are bulging, the pawn shops are bustling, tent cities are sprouting up everywhere, and according to MarketWatch, Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.” Face it; the economy is in the crapper and Bernanke’s trickery hasn’t done a lick of good.    The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s.  Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break          The Real Economy Versus the Make-Believe World of the Government and Financial Giants  In the real economy, unemployment is at Depression-era levels.     Top firms' pension funds plummet     Consumer bankruptcies jump 34%       Nine Of Ten Sectors Overbought      This Depression is just beginning            Feds Hit With Biggest Tax Revenue Drop Since 1932...       The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go…    An Artifical Recovery       [$$] Why I Went Fully Into Cash      US food stamp list tops 34 million for first time      The Banks Own the Fed, and the Central Banks Own BIS         AIG breakup nets Wall Street $1 billion bonanza: report      ‘Underwater’ Mortgages to Hit 48%, Deutsche Bank Says     Oil price hits $76, highest since October...    US companies axe 371,000 jobs in July       Half of U.S. mortgages seen underwater by 2011...     Recovery ‘not in sight’ says BMW      Half of U.S. mortgages seen underwater by 2011...     Recovery ‘not in sight’ says BMW             Recession Worse Than Prior Estimates, Revisions Show  Bloomberg | The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. DO YOU REALIZE HOW MANY SUCKERS’ RALLY POINTS WERE ADDED BY THE FAKE NUMBERS CONTRIBUTING TO THIS NEW COMMISSIONING BUBBLE!     REVISED: ECONOMY 2X WORSE...  The government plans big revisions to historical economic data... Developing...   Regulators shut banks in Fla., NJ, Ohio, Okla... WASHINGTON (7-31-09) (AP) -- Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults.    PhD Economist: Fed has Caused Soaring Unemployment, Millions of Foreclosures, Millions Losing Life Savings and More than $6 Trillion in Lost Output      DOLLAR DROPS TO '09 LOW...  Unemployment spreads distress in U.S. home loans       Weak Treasury Auctions Raise Worries About Debt Burden...     [$$] Senate Probes Banks for Meltdown Fraud (at The Wall Street Journal Online)     Even Bernanke Admits this Could be Worse than the Great Depression      Senate probes Goldman, Deutsche: report (Reuters)      The Real Unemployment Rate Hits a 68-Year High       2009 Looking More Like 1929         Dollar Falls to 2009 Low...    U.S. Markets Decline After Weaker Than Expected Data    A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY'  Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality.   ] AND NOTHING REAL OR POSITIVE AT ALL (IE., STILL NO PROSECUTIONS OF THE FRAUDS ON WALL STREET SO JUST ANOTHER BUILT-IN COST BY CHURN-AND-EARN COMMISSIONS TO, DEFACTO TAX ON NON-PERFORMING / DECLINING ECONOMY, DURABLE GOODS DOWN/FORECLOSURES UP, CONFIDENCE REALISTICALLY DOWN, CORRUPT COMMERCE DEPARTMENT CHIMES IN WITH FAKE NUMBERS, USED HOME SALES UP WITH DEFAULTS/ SHORT SALES, JOB LOSSES UP, BETTER THAN EXPECTED MANTRA, GUIDANCE THAT DEFIES REALITY BY A LONG SHOT AS IN LAST COMMISSIONABLE BUBBLE BUST, JOB/COST CUTS TO BONE, ETC.) (  Max Keiser: Prosecute the Bankster Crime Syndicate     Max Keiser: Goldman Sachs Are “Scum,” “Financial Terrorists”     Bank profits not as impressive as they seem when you take into account TARP funding, changed accounting rules to fudge books, new stock issues, etc… um   Cost Of Bailout Hits A Whopping $24 Trillion Dollars    Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008.     Geithner asks Congress for higher U.S. debt limit      U.S. regulators close 3 banks, total now 72     US deficit climbs to 1.3 trillion dollars      Stearns Crucifies Paulson On Bailout Bait And Switch     Fiscal ruin of the Western world beckons     Foreign Embassies Urged to Stockpile Local Currencies     Bailout Overseer Says Banks Misused TARP Funds     Regulators shut banks in Calif., Ga. and SD  ) TO KEEP SUCKERS SUCKERED [   (7-29-09) Insiders Selling at Alarming Levels        Insiders Exit Shares at the Fastest Pace in Two Years    Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break       ] AND COMMISSION DOLLARS FLOWING [Tarp banks award billions in bonuses...     Goldman Sachs on pace for record bonuses: report (Reuters)   Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly  Max Keiser: Prosecute the Bankster Crime Syndicate       Corporate Media Spotlights Distortion of Market by High Frequency Trading     [$$] Big Pay Packages Return to Wall Street as new fraud gains steam (at The Wall Street Journal Online)   Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t    Max Keiser: Goldman Sachs Are “Scum,” “Financial Terrorists”  Max Keiser goes on the offensive during an appearance on France 24 as he slams Goldman Sachs as “scum” and “financial terrorists” who should be thrown in jail.   ‘Printing money will lead to serious problems down the road,’ says Jim Rogers      Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’    2009 Looking More Like 1929    AIG breakup nets Wall Street $1 billion bonanza: report      ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...    Scams And Bailouts The Cause of World Depression    Insiders Continue to Sell, Sell, Sell (at Seeking Alpha 8/13/09)      PAPER: Fresh alert on global stock markets...    Retail sales fall, new jobless claims rise (Reuters)     US Home Foreclosures Set Another Record in July       (7-29-09) Insiders Selling at Alarming Levels   Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008.   The Market's Horoscope: Downside Correction        Geithner asks Congress for higher U.S. debt limit      U.S. regulators close 3 banks, total now 72     US deficit climbs to 1.3 trillion dollars   Causes of Depression Yet To Be Addressed   Further impoverishment is on the way. More and more will be laid off and they’ll be no new jobs available. Savings will be exhausted and most homes that have been financed will be under water.   Some banks paid bonuses bigger than income: o     This Depression is just beginning    You read that right! Only $400 billion of that fantastic 6 month “green shoots” stock market rally came from money market accounts. The rest ($2.3 trillion) was laundered through the banks and other financial institutions to create the appearance of recovery and to raise equity for underwater banks rather than forcing them into receivership (which is where they belong) Bernanke probably knew that congress wouldn’t approve another TARP-type bailout for dodgy mortgage-backed assets, so he settled on this shifty plan instead. The only problem is, the banks are still broke, business investment is at historic lows, consumers are on the ropes, the unemployment lines are swelling, the homeless shelters are bulging, the pawn shops are bustling, tent cities are sprouting up everywhere, and according to MarketWatch, Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.” Face it; the economy is in the crapper and Bernanke’s trickery hasn’t done a lick of good.    The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s.      Feds Hit With Biggest Tax Revenue Drop Since 1932...       The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go…    An Artifical Recovery       [$$] Why I Went Fully Into Cash     Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break         The Real Economy Versus the Make-Believe World of the Government and Financial Giants  In the real economy, unemployment is at Depression-era levels.    US companies axe 371,000 jobs in July       Half of U.S. mortgages seen underwater by 2011...     Recovery ‘not in sight’ says BMW          Top firms' pension funds plummet    Consumer bankruptcies jump 34%    Nine Of Ten Sectors Overbought      This Depression is just beginning        US food stamp list tops 34 million for first time      The Banks Own the Fed, and the Central Banks Own BIS         AIG breakup nets Wall Street $1 billion bonanza: report      ‘Underwater’ Mortgages to Hit 48%, Deutsche Bank Says     Oil price hits $76, highest since October...    US companies axe 371,000 jobs in July       Half of U.S. mortgages seen underwater by 2011...     Recovery ‘not in sight’ says BMW           Unemployment spreads distress in U.S. home loans   Cities in the U.S. Sun Belt states of California, Florida, Nevada and Arizona dominated the record foreclosure spree in the first half of the year, but distress in other regions emerged as joblessness spread, RealtyTrac said on Thursday.   Recession Worse Than Prior Estimates, Revisions Show  Bloomberg | The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. Do you realize how many suckers’ rally points were added by the fake numbers contributing to this new commissioning bubble!     REVISED: ECONOMY 2X WORSE...  The government plans big revisions to historical economic data... Developing...   Regulators shut banks in Fla., NJ, Ohio, Okla... WASHINGTON (AP) -- Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults.    PhD Economist: Fed has Caused Soaring Unemployment, Millions of Foreclosures, Millions Losing Life Savings and More than $6 Trillion in Lost Output      DOLLAR DROPS TO '09 LOW...    75% Favor Auditing The Fed      Tarp banks award billions in bonuses...    The Real Unemployment Rate Hits a 68-Year High       2009 Looking More Like 1929         Dollar Falls to 2009 Low...        Six Georgia banks fail, bringing year tally to 64....    Rally may cool on earnings reality check    Dollar Falls to Near 2009 Low as Economy Pares Refuge Demand         Ben Bernanke Was Wrong        Wall Street’s Love Affair with Ben Bernanke Mike Whitney | bernanke knows that the country is in a Depression Scams And Bailouts The Cause of World Depression     New US weekly jobless claims jump      Its Official: U.S. Trapped in an Extended Depressionary Cycle       MICROSOFT Profit Drops 29% as PC Slowdown Weighs on Revenue… they haven’t availed themselves of the fake assets/books legislation recently passed...      AMAZON.COM Profit Drops 10%...         Bernanke: “I Don’t Know” Which Foreign Banks Were Given Half a Trillion   Paul Joseph Watson Grayson grills Fed chairman on destination of credit swaps.         Fed: unemployment will top 10 percent this year...         Foreclosures (those increased home sales that has been fueling suckers’ rally)  rise 15 percent in first half of 2009    (7-17) Three more banks fail, bringing 2009 tally to more than double all of 2008 at a total thus far of 57    Lower Markets on the Horizon      Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly     The Ultimate Insider Trading Scheme    Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t       Cost Of Bailout Hits A Whopping $24 Trillion Dollars     Stearns Crucifies Paulson On Bailout Bait And Switch     Fiscal ruin of the Western world beckons     Foreign Embassies Urged to Stockpile Local Currencies     Bailout Overseer Says Banks Misused TARP Funds     TARP watchdog says Treasury lacking bank data     Goldman Sachs  caused  the problems in the first place… Who can deny that?             Budget deficit tops $1 trillion for first time (AP)      CIT Watch: Analysts Says Debt Load Isn't the Only Problem       Geithner Refuses to Rule Out Continuing Using American Taxpayer as Piggy Bank for Derivatives Losses    WHITE HOUSE ECON ADVISER CLAIMS SUCCESS: FEWER PEOPLE SEARCHING 'ECONOMIC DEPRESSION' ON GOOGLE BECAUSE EXPERIENCING IT FIRST-HAND THEY ALREADY KNOW WHAT ECONOMIC DEPRESSION IS...      What Economy? There’s Nothing Left to Recover  There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy “ ; less bad, not as bad as expected…riiiiight!, tarp money for the commission frauds on wall street in new manufactured bubble as actual/real manufacturing down again; consumer confidence down, commercial loans begin default phase of downturn, 6.9 million continuing unemployment claims for new record; retail sales down sharply A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY'  Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality.   Economist: FDIC gearing up for bank closures     Goldman Sachs Admits Its Software Can “Manipulate Markets in Unfair Ways and fraudulently generate commissions /trade volume”     Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t You Tube | Goldman Sachs are scum– that’s the bottom line. They have co-opted the government, the Treasury Department and the Federal Reserve’s functionality. They’ve co-opted the Obama administration & Barack Obama dances to Goldman Sachs’ tune.         True unemployment rate already at 20%    This Depression Will Last For Years       Wyoming sees first bank failure since 1991     China criticizes dollar          AIG Preparing to Pay New Round of Bonuses...     While Talking About Keynesian Stimulus, Feds Are Really Just Giving Money to the Big Frauds            FDIC Insurance Fund: It Doesn’t Actually Exist      Replacing the dollar as reserve currency         US loses 467,000 jobs, unemployment at 9.5%       'We're in the Middle of a Crash': Black Swan...    Economic Expectations – Unemployment Rate Will Reach 15%    David Tice: We are going into a depression-15% unemployment or more on horizon.   U.S. consumers fall behind on loans at record pace       FBI: Mortgage fraud 'rampant' and growing...       Celente and Schiff Predict Food Panic This Year. Watch clips HERE. Fema Camps Built.      Wall Street hits 10-week low amid talk of new stimulus      (7-2)Seven more banks fail, bringing 2009 tally to more than double all of 2008 at a total thus far of 52; Private sector sheds another 473,000 jobs in June...    US lurching towards ‘debt explosion’ with long-term interest rates on course to double         Jim Rogers Sells Dollars, Plans to Short Treasuries               ‘Sucker’s Rally Beginning To Unwind’ daaaah…?    Calls grow to supplant dollar as global currency     China officials call for displacing dollar, in time       Tracking Two Depressions, 1929 and now this            Mortgage applications fall to 7-month low...         Private sector sheds another 473,000 jobs in June...        'Layoffs may be worsening'...      AIG shares drop after 1-for-20 reverse-stock split (AP)     Manhattan apartment prices skid 13 to 19 percent          Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california)    Consumer confidence suffers steep fall...     Home prices post 18% annual drop...    Worldwide Depression: Review of Global Markets       . Four banks fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44       Dollar Falls Most in Month as China Urges New Reserve Currency      Gerald Celente speaks on Cap and Trade and other handicaps to the US economy       HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT  MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years  ] AND COMMISSION DOLLARS FLOWING [  Goldman Sachs on pace for record bonuses: report (Reuters)  ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...    A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY'  Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality.       , personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar  Dollar And Stocks Drop As China Calls For New Global Currency   , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q  ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what b**l s**t!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%;   U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise       foreclosure sales up 2.4%, prices down 17% year over year,    [$$] Market Suffers Some Technical Damage         Stocks tumble on bleak outlook for world economy           U.S. regulators close their 40th bank of the year  ,   Next Major Move In Stock Market Will Be Down     world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling,  industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing,  money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets   Jim Rogers: “The Worst is Not Over” 6/9/2009   A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY'  Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality.     Markets See a Breakdown in Technical Support Levels             Roubini: USA sees double-dip recession...    Jobless claims rise; GDP dips in 1Q      Bernanke faces GOP-led (who are they kidding-bushies/paulsen went so far as threaten martial law- prosecute now! They continue to allow the wall street fraud and political theater doesn’t change their complicity) heat on BofA-Merrill deal    Fed Tried to Cover-up Its Involvement in Bank of America-Merrill Deal       U.S. Economy: Jobless Claims Rise in Sign Labor Market Stagnant            Dollar drops on reserve currency doubts      China sells US bonds to ’show concern’      BRICs May Buy Each Other’s Bonds in Shift From Dollar            China’s holding of US bonds drops first time in 11 months        Russia to Raise Reserve Currency Issue at BRIC              International Demand for Worthless U.S. Assets Slowed in April        IMF says worst not over        Senator cashed out during big stock collapse -- after meeting with Fed, Treasury chiefs!    America's AAA downgrade danger...        Treasury faces pressure on price of TARP exit      A depression so deep even teen shoppers scrimp      US cities may have to be bulldozed in order to survive         1st quarter wiped out $1.3 trillion for Americans     Get Ready for Inflation and Higher Interest Rates       Oil prices near $73 as energy rally continues      Fed Would Be Shut Down If It Were Audited        Fed says economy weak, but sees signs the slide increasing     Mounting deficits spark jitters about U.S. economy     Wall Street falls as realities dent recovery hopes     Bonds fall on worries about government's debt load (AP)      Oil prices strike new high for 2009 (AP)    The depression quietly deepens     CHINA AIRS FEARS ON DOLLAR, DEBT...          Oil hits 7-month high over $70... Yes, We’re STILL In a Depression      China Bank Wants U.S. Bonds Issued in Yuan       Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead   U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now            China explores buying $50bn in IMF bonds       US retailers report May sales declines    Tiny Tim says dollar assets safe...    Laughter from audience...      Why The Chinese Laughed At Geithner     ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery     Worse-than-expected economic data thwarts rally      Jobless rates in U.S. cities zoom higher in April      Sector Snap: Homebuilders tumble (AP)       As the Dollar Falls Off the Cliff …    Bernanke warns on deficits as Treasury rates rise   -----        GOV'T OWES RECORD $63.8 TRILLION...         The Big Collapse Is Very Near    Dollar Declines as Nations Mull Reserve Currency Alternative     Dollar Falls Most In A Month Since 1985    Leap in U.S. debt hits taxpayers with 12% more red ink        Gold jumps above $970/oz as dollar weakens          Double-Dip Depression  , New Record Continuing Unemployment Claims,    Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation”         Why We'll  See Another Serious Equities Sell-Off      Obama continuing Bush’s assault on the middle class       Government will now own 72.5% of 'New GM'...         Roubini: U.S. economy to  dip again next year...         Case-Shillers index shows new record decline in real estate prices,    $80+ oil coming this year    Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars          Waterboard the Fed      Obama: We Are Broke. Well, Duh!            Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro   ,    new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...   ,  world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better,  leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets  Insiders Exit Shares at the Fastest Pace in Two Years    BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...       The Next Bubble Is Here. Have You Bought In?      Here we go again! Barney Frank asks FANNIE and FREDDIE to relax Mortgage lending rules...       Fed Tried to Cover-up Its Involvement in Bank of America-Merrill Deal     Dollar And Stocks Drop As China Calls For New Global Currency       Citigroup Ordered to Suspend Some Operations in Japan         Bernanke Grilling May Weaken Case for Fed as Risk Regulator            Citi boosting salaries to offset lower bonuses, allegedly to retain the clowns who helped make them taxpayer dependant and cause the current debacle; how ‘bout firing them instead and offering opportunity to the new, particularly non-ivy league vegetable garden grads            [$$] Market Suffers Some Technical Damage         Stocks tumble on bleak outlook for world economy     U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise       [$$] Red Roof Inn Defaults on Mortgage Debt (at The Wall Street Journal Online)       MySpace to cut two-thirds of global workforce    GM to cut 4,000 more white-collar jobs by year end       Oracle tops forecasts despite sales, profit dip; stated another way, bad news will be shilled as good news (AP)    California Collapsing        Bankster “Holiday” Planned for September?      Recession Sparking Global Unrest       Is Your Portfolio Ready for the Next Leg Down?           S&P turns negative for year in broad sell-off (Reuters)       Goldman Sachs on pace for record bonuses: report (Reuters)       Numbers On Welfare See Sharp Increase          Top Insiders Playing You For A Sucker?       The death of the dollar. Who could deny it?    Stanford indicted in massive U.S. fraud case which is small potatoes compared to ubiquitously massive wall street securities fraud which caused the ongoing financial debacle        Venture Capital Bubble Set to Burst, Kedrosky Says     Obama Plans to Cut Bank Regulators, Allow Fed to Supervise Financial Holding Companies – The old fox guarding the henhouse tricks     Federal Reserve unwisely to gain power under plan      Federal Reserve Foolishly To Be Given Sweeping New Powers        Yen Strengthens Most in Month as Asian Stocks Drop, Gold Gains        RUSSIA CHALLENGES WORTHLESS DOLLAR...    AIG says former top exec plundered retirement plan     [video] The Too-Big-to-Fail Problem [6.8 min] (at MarketWatch)     [$$] Too Big to Solve? (at The Wall Street Journal Online)          Buy and Hold Is Dead. Long Live Buy and Hold!     Financial Bailout Plan Keeps Zombie Banks Alive       Bernanke then as now in denial about looming crisis 2005-2007              Retail sales, drop in jobless claims to a very high even if believed 601,000 yielding record continuing claims of 6.8 million fuel hope…if you’re a dope     Lawmakers blast Fed, Treasury for BofA "threats"       Oil climbs over $73 on hopes for rising demand     U.S. Household Worth Fell by $1.3 Trillion in First Quarter       Predictions of $250 a barrel on oil        ECB Fears Reality of Banking Crisis in 2010: Report        Get Ready for Inflation and Higher Interest Rates      Bill To Audit Federal Reserve Now Has 209 Co-Sponsors        Russia May Swap Some U.S. Treasuries for IMF Debt        Fed report shows losses on Bear Stearns, AIG holdings      Congress subpoenas the Fed ... Finally! (AP)        Brazil in recession, recovery unlikely this year       What a “Jobless Recovery” Really Means: A Massive Redistribution of Wealth from the Little Guy to the Big Boys       Obama Tells American Businesses to Drop Dead      America’s Fed Addiction        “87 Percent of [Chinese] Respondents Believe China’s u.s. Dollar-Assets are Unsafe”       Fed Said to Retreat From Seeking Power to Sell Its Own Debt/Bills       WIRE: Obama Tells American Businesses to Drop Dead...  Long-Term Economic Memory Loss    Obama’s economic model versus reality     Reality bites Internet as 1Q ad sales fall 5 pct (AP)      CHINA AIRS FEARS ON DOLLAR, DEBT        government reports better than private estimates…riiiiight!  President of the Federal Reserve Bank of Kansas City Warns of Oligarchy        U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now         Benefit spending soars to new high    $100 Billion Bailout For IMF Tagged On To War Funding Bill        Economic recovery is wishful thinking          Gold, Silver Climb as Dollar Falls      OPEC: OIL COULD REACH $90...        -----     Existing home foreclosure sales up, and no profit discount car sales better than expected     Diluting like crazy through new stock bubble issues       Market Manipulation/Fraud: How Financial Markets Really Work         Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation     The $4 trillion housing headache (at Fortune)  foreclosure sales up, prices down  ,  ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! 

 

ANALYST FORECASTS: BULLS AND BEARS    By Richard Shaw    [there were 3 bull forecasts which are bull s**t and not included in the following excerpt to preclude fraud and conserve space; even the neutrals are a stretch]
…..BEAR - May 30: Morgan Stanley equity analyst Jason Todd says sell this S&P 500 rally. He says Morgan Stanley does not see large upside above 825-850. He said, “In the rush to buy a cyclical recovery, it seems earnings or valuation no longer matters. We would be comfortable with this view if the earnings trough was closer, but it is not.”

BEAR - MAY 28: Berkshire Hathaway possible successor to Warren Buffet, David Sokol, says they see no evidence of the green shoots that been a stimulus to the stock market. He sees the most significant headwinds to the electric utility industry in his 30 years, and see continuing housing industry problems.

BEAR?/BULL? - May 28: PIMCO co-CEO Bill Gross (manager of world’s largest bond fund) portrays “new normal” including accelerating inflation toward the latter part of a three- to five-year cycle, and the need to reexamine accepted notions about investing. He said stocks have not and will not always outperform bonds, and having 60% to 80% of portfolio assets in stocks may not always make sense. He believes the dollar will lose its status as the reserve currency; Brazil, India and China (forget Russia) will offer the best growth. The U.S. government will be selling trillions in Treasuries; the US savings rate may rise significantly, and the consumer economy may be shrinking long term due to the aging of the population.

BULL?/BEAR? - May 28: GMO CEO Jeremy Grantham predicts higher US savings and lower consumption with many postponed retirements. He sees some reasonable values within the stock market now and sees the third year of the presidential cycle (2011) as the most promising. He is not certain that a robust rally will continune. Like John Bogle, he believes in the principle of having your age as the percentage of bonds in your portfolio. He expects a bubble in emerging market stocks to develop.

BEAR - MAY 26: Comstock Partners portfolio managers Charlie Minter and Marty Weiner, say P/E’s on “as reported earnings” are too high in consideration of the long-term trend in earnings (now in down phase). “Over the past 75 years, most market peaks topped at around 20 times reported earnings, and the troughs occurred at around 10 times earnings. The financial mania of the late 1990s pushed P/Es to over 40 times reported earnings, and the following bust never brought P/Es below 18 times reported earnings. … Going back to 1950, every instance where actual earnings rose above trend-line earnings was followed by a period where actual earnings went well below trend-line earnings. Comstock Partners believes that we have entered such a period now, and that the market is trading at such a high multiple of trend-line earnings that it will be difficult to make money.”

BEAR - May 19: Gluskin Sheff analyst David Rosenberg (formerly of Merill Lynch) says this rally is a sucker’s rally based on short covering. “The FTSE All-World market P/E ratio on forward earnings estimates is now around 15x, well above pre-Lehman collapse levels and nearly double the lows for the cycle … this was a rally built largely on short covering, pension fund rebalancing and the emergence of hope wrapped up in ‘green shoot’ data points. … On average, the S&P 500 undergoes a correction of more than 20% … at a minimum, take profits”

NEUTRAL (BEAR?) - May 11: Baring Asset Management portfolio manager Hayes Miller says “Estimates suggest there isn’t that much further to run because equities are fairly valued … Earnings growth for 2009 and 2010 can’t support prices too much higher than where we are today.”

BEAR - May 11: HSBC Global Asset Management chief investment officer Leon Goldfeld, chief investment officer at HSBC Global Asset Management said it’s “hard to see” enough profit growth to justify higher stock prices. The firm’s strategy will be to reduce its holdings of equities and move into bonds and cash, he said.Bloomberg TV on June 1, said HSBC forecasts 900 as the year-end price for the S&P 500 index.

NEUTRAL - May 11: Bloomberg compilation of analyst forecasts of 2009 earnings for the S&P 500 is at $57.17 (not stated whether “as reported” or “operating”). As of June 1, that puts the S&P at about 16.5 times forecasted earnings. Yale economist Robert Schiller said the historic average is a multiple of about 16.3. [we note that we are not in an average situation or stage of a market, however].

BEAR - May 11: Bank of America CIO for private wealth management expects a 10% correction. He said, “We’re going to be in a very volatile, chop-and-grind type of market. We’ve been shown that there is a small light at the end of the tunnel, it’s dim but getting brighter, and that’s why stock prices have come this far this fast. Now, it’s all about ‘show me.’”

BEAR?/ BULL? - May Letter: PIMCO co-CEO Bill Gross wrote: “Do not be deceived by the euphoric sightings of “green shoots” and the claims for new bull markets in a multitude of asset classes. Stable and secure income is still the order of the day. Shaking hands with the new government is still the prescribed strategy, although it should be done at a senior level of the balance sheet. If the government indeed becomes your investment partner, you should keep the big Uncle in clear sight and without back turned. Risk will not likely be rewarded until the global economy stabilizes and the Obama rules of order are more clearly defined.”

BEAR - April 17: Barclay’s analyst Barry Knapp forecasts S&P 500 at 757 by year-end 2009. He said, “The equity market has priced this recovery and then some. It looks pretty expensive to us.”

(7-1) SELL / TAKE ANY PROFITS IN THIS SECULAR BEAR MARKET SUCKERS’ RALLY PROGRAMMED TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years  ] AND COMMISSION DOLLARS FLOWING [  Goldman Sachs on pace for record bonuses: report (Reuters)     [$$] Big Pay Packages Return to Wall Street as new fraud gains steam (at The Wall Street Journal Online)    ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...    Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california)    Gerald Celente speaks on Cap and Trade and other handicaps to the US economy       HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT  MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years  ] AND COMMISSION DOLLARS FLOWING [  Goldman Sachs on pace for record bonuses: report (Reuters)  ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar  Dollar And Stocks Drop As China Calls For New Global Currency   , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q  ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what b**l s**t!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%;   U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise       foreclosure sales up 2.4%, prices down 17% year over year,    [$$] Market Suffers Some Technical Damage         Stocks tumble on bleak outlook for world economy           U.S. regulators close their 40th bank of the year  ,   Next Major Move In Stock Market Will Be Down     world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling,  industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing,  money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets   ,    new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...   ,  world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better,  leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets  Insiders Exit Shares at the Fastest Pace in Two Years    BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...       foreclosure sales up, prices down  ,  ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! 

 

(6-30) SECULAR BEAR MARKET SUCKERS’ RALLY TO END WELL OFF SESSION LOWS  TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california)    Consumer confidence suffers steep fall...     Home prices post 18% annual drop...    Worldwide Depression: Review of Global Markets       . Four banks fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44       Dollar Falls Most in Month as China Urges New Reserve Currency      Gerald Celente speaks on Cap and Trade and other handicaps to the US economy       HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT  MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years  ] AND COMMISSION DOLLARS FLOWING [  Goldman Sachs on pace for record bonuses: report (Reuters)  ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar  Dollar And Stocks Drop As China Calls For New Global Currency   , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q  ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what b**l s**t!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%;   U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise       foreclosure sales up 2.4%, prices down 17% year over year,    [$$] Market Suffers Some Technical Damage         Stocks tumble on bleak outlook for world economy           U.S. regulators close their 40th bank of the year  ,   Next Major Move In Stock Market Will Be Down     world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling,  industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing,  money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets   Jim Rogers: “The Worst is Not Over” 6/9/2009     ,    new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...   ,  world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better,  leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets  Insiders Exit Shares at the Fastest Pace in Two Years    BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...       The Next Bubble Is Here. Have You Bought In?      foreclosure sales up, prices down  ,  ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! 

 

 

 

Tiny Tim says dollar assets safe...    Laughter from audience...       Why The Chinese Laughed At Geithner  Paul Craig Roberts | The red ink that Washington is generating is a far greater threat to Americans than any foreign “enemies.”               

(6-3) ONLY MODEST LOSSES RELATIVE TO REALITY WITH PROGRAMMED SHORT-COVERING/SUCKERS RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS ( ie., mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery     Worse-than-expected economic data thwarts rally      Jobless rates in U.S. cities zoom higher in April      Sector Snap: Homebuilders tumble (AP)       As the Dollar Falls Off the Cliff …    Bernanke warns on deficits as Treasury rates rise   -----        GOV'T OWES RECORD $63.8 TRILLION...         The Big Collapse Is Very Near    Dollar Declines as Nations Mull Reserve Currency Alternative     AND BULL S**T ALONE (ie., $100 Billion Bailout For IMF Tagged On To War Funding Bill        Economic recovery is wishful thinking          Gold, Silver Climb as Dollar Falls      OPEC: OIL COULD REACH $90...        -----     ,  ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! 

(6-2) SUCKERS’ RALLY CONTINUES TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS The Big Collapse Is Very Near       U.S. auto sales drop, but rays of stability seen      Economic crisis boosts distrust of business: watchdog    Dollar Declines as Nations Mull Reserve Currency Alternative     Grand Theft Auto: How Stevie the Rat bankrupted GM       Gold, Silver Climb as Dollar Falls    Home foreclosure sales up, no profit discount car sales better than expected  

Diluting like crazy through new stock bubble issues    YAHOO…To that point, Moody's stated that it expects U.S. rated banks will incur some $470 billion pretax loan losses and write-downs in 2009 and 2010, and also expects many banks will be unprofitable this year. Moody's is keeping a negative outlook on the banking industry rating and the industry's credit outlook. …Semiconductor stocks (-3.3%) showed weakness for the entire session. Their downturn came after Applied Materials (AMAT 11.61, -0.44) chief executive Mike Splinter stated that there will be more failures in the semiconductor equipment sector amid declining customers, according to Reuters...  Sacrifices are needed to save GM, Obama tells Americans Guardian | “Difficult times lie ahead,” said Obama. “More jobs will be lost, more plants will close. More dealerships will shut their doors and so will many parts suppliers.” The Big Collapse Is Very Near Robert Wenzel | The end of the current financial system, as we know it, is imminent.   Today we’re all prisoners in the USA    Ted Rall | Obama wants to let government goons snatch you, me and anyone else they deem annoying off the street so if true, then It’s increasingly evident that Obama should resign     Grand Theft Auto: How Stevie the Rat bankrupted GM Greg Palast | Stevie the Rat’s plan is nothing less than Grand Theft Auto Pension.     (6-1)  MORE CAN’T BE SAID, SO PREPOSTEROUS WAS THIS TYPICALLY FAKE BETTER THAN EXPECTED (RIIIIIGHT!) COMMERCE DEPARTMENT DATA SUCKERS’ RALLY TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS AND BULL S**T ALONE  ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Most U.S. retailers likely saw sales fall in May     GM files for bankruptcy, urges quick action    GM: A Mighty Icon Files for Bankruptcy      Dow gets shake-up as GM, Citi kicked out of average       GM removed from S&P 500 index (AP)      Stocks Will Fall 37% and Gold Will Rally %       Even in Crisis, Banks Dig In for Fight Against Rules New York Times | The nine biggest participants in the derivatives market — including JPMorgan Chase, Goldman Sachs, Citigroup and Bank of America — created a lobbying organization, the CDS Dealers Consortium, a month after five of its members accepted federal bailout money.     Zoellick Warns Stimulus ‘Sugar High’ Won’t Stem Unemployment Bloomberg | World Bank President Robert Zoellick warned policy makers that fiscal-stimulus plans are insufficient to turn around the “real economy”        (5-29) PROGRAMMED TRADES/SUCKERS’ HIGH OIL/LOW DOLLAR (RIIIIIGHT!) RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON BAD NEWS ( ie.,  GOV'T OWES RECORD $63.8 TRILLION...         Dollar Falls Most In A Month Since 1985    Leap in U.S. debt hits taxpayers with 12% more red ink        Gold jumps above $970/oz as dollar weakens          Double-Dip Depression  , New Record Continuing Unemployment Claims,    Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation”         Why We'll  See Another Serious Equities Sell-Off      Obama continuing Bush’s assault on the middle class       Government will now own 72.5% of 'New GM'...         Roubini: U.S. economy to  dip again next year...         Case-Shillers index shows new record decline in real estate prices,    $80+ oil coming this year    Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars          Waterboard the Fed      Obama: We Are Broke. Well, Duh!            Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro   ,    new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie.,   Market Manipulation/Fraud: How Financial Markets Really Work         Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation     The $4 trillion housing headache (at Fortune)  foreclosure sales up, prices down  ,  ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!    (5-28) Sowell: Government’s Current Role in Business the ‘Route’ to Fascism         Foreclosure woes mount for those with good credit         Fed Finds a Way to Use Stress Tests to Screw Bank Shareholders One More Time (at Seeking Alpha)      Time Warner to spin off AOL, ending ill-fated deal      [$$] Listen, But Don't Get Suckered      Faber: Inflation to 'Approach Zimbabwe Level'...    U.S. Weighs Single Agency to Regulate Banking Industry Yet Ignores Existing Laws, Prosecution, and Disgorgement in this Huge Fraud…Why   (5-27)  Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that?              Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP)     GM borrows $4 billion more, prepares for bankruptcy    Job losses up in 44 states as recession drags on        Florida's BankUnited fails, will cost FDIC $4.9B (AP)     Regulators seize 34th bank failure of year Florida's BankUnited FSB (AP)     Treasury Selloff Spiking Interest Rates      GM bankruptcy seen near          GM all but certain to file for Chapter 11    US Government to Take Up 70% Stake in GM          FDIC Fund Running Dry  Yahoo Finance | As the FDIC has had to step in to take over more and more insolvent banks, the fund has dwindled to dangerously low levels. At the same time, the number of problem banks continues to grow at a rapid pace.     IRS tax revenue falls along with taxpayers’ income USA Today | Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981.    (5-26)  fake consumer confidence reading 30+% better than private estimate sucker-rallies stocks ,   Current Recession Is Tracking the 1930s Bear Market   ,  Another Bottom for Stocks Coming: Rogers (at CNBC)   ,  The Sleepwalkers' Rally         ,  Rogers Echoes Warning Of “Sucker’s Rally” , don’t forget that the suckers rally stock prices accounted for the very modest but ephemeral uptick in leading indicators        Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars    )  , (5-22) Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP)     GM borrows $4 billion more, prepares for bankruptcy    Job losses up in 44 states as recession drags on        Bill to Audit Fed Wisely Gains Serious Momentum       U.S. to Steer GM Toward Bankruptcy       Gold tops $960 for first time in two months as dollar weakens      South Afica gold coin demand hits all time high     Peter Schiff called “Extremist” by Time Magazine      Geithner Vows to Cut U.S. Deficit on Rating Concern…riiiiight!…con     Gold Poised for Third Weekly Gain as Dollar Slumps Against Euro      “The Odds on the Dollar, Treasury Bonds and the U.S. Government’s AAA Grade All Heading for the Dumpster are Shortening”       (5-21) Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that?       GMAC receives $7.5 billion in new Treasury aid (AP)     Dollar hits '09 low on rating fears; stocks dip (Reuters)     U.K. to Lose AAA Rating at S&P as Finances Weaken      U.S. Stocks Decline on Jobless Claims, greenspan, who helped create the debacle and should thereby know, Warning      Gold May Test $1,200      (5-20)  The Weimar Hyperinflation is Happening Again! With fed printing/creating like mad, what did they expect?     Rogers Echoes Warning Of “Sucker’s Rally”      Green Shoots: Too Small, Too Far Apart       The Sleepwalkers' Rally       Former head of pension agency takes the Fifth (AP)      Global stocks slip, dollar tumbles after downbeat Fed     Depression hits already defacto bankrupt Social Security hard     Gold purchases up 36% as investors look to preserve wealth      China Gold Reserves May Back Yuan Internationalization-Report     22 reasons why OBAMA will raise your taxes Federal debt is now $11.5 trillion. Add $1.4 trillion this year. That’s almost 100% of GDP.            (5-19)   Deficit surges at agency that insures pensions (AP)       China and Brazil Plan to Dump Dollar          HP's profit drops, more layoffs looming        Japan logs record GDP drop      Senator: More oversight needed at insolvent pension agency (AP)     Inflating Our Way Out of This Mess? Why This Won't Work        Japan's economy in record plunge      Jim Rogers: Obama will Devastate the Economy        This Economy Ain't Healed Yet (at Seeking Alpha)         (5-18) Suckers’ rally (The Suckers Rally, Japan Style   …high oil price rally…riiiiight! )  Bilderberg 2009 Attendee List (revised)            Meanwhile: The Bilderbergers are advancing in Norway  [ I realize that jones (who parenthetically it should be noted, hypocritically censored my comments) et als really overdoes this group’s (among others) effect on the u.s. , state of the world, etc.; truth be told, this group like most of the interest/pressure groups including the masses, in the u.s., etc., are no more than a just a bunch of f**k-ups/vegetables who like the aforementioned multitudes have really ‘mucked things up’ (for lack of a more precise yet concise term) on this planet, probably irrevocably, and like the many home-grown f**k-ups/vegetables, and in america particularly criminals, jones refuses to acknowledge as culpable for the many reasons he refuses to see, are but rather typically incompetent players contributing in there own very special eccentric, neurotic, sick, venal, corrupt, etc., way to this collective and cumulative result being this ever deflating (declining) ball of chaos /confusion /criminality called earth (there are exceptions to the foregoing, but in america, the same would be 5% or less) ].       Economy limiting services of local police        Madoff Investors Probed by U.S. Prosecutors yet still not even one prosecution of the perpetrators of the largest scam/fraud in history foisted off on/funded by taxpayers        Rep. Paul’s bill to audit Federal Reserve nets 165 co-sponsors is the first of what should be many necessary wise moves     American Capitalism Gone With a Whimper    The Shrinking American Consumer       The Suckers Rally, Japan Style        Gold likely to test $950 level this week      Blue collar males lose more ground; unemployment rate surges past national average...         (5-15)Highest credit card default rates in 26 years at 10+%, the real economy in terms of unemployment, income, and debt far worse than their rosy ‘green shoots’ scenario to help froth the market. Wall Street sags on oil; S&P ends worst week in 2 months     Following Chrysler, GM slashing U.S. dealers   “The Worst Is Yet to Come”  Yahoo Finance | “If the consumer isn’t petrified, he or she is a damn fool.”       (5-14)All news worse than expected, ie., weekly job losses higher than expected 637,000, wholesale inflation rate .3%,   BEAR ALARM      US ’sham’ bank bail-outs enrich speculators  ,  The Secrets of the Federal Reserve  Bob Chapman | A manmade disaster created by the Federal Reserve, banking and Wall Street, and these are the same corrupt group who our government has chosen to rectify the problem.  The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable    etc.,  It’s worth noting in a Wall Street Journal editorial hedge fund manager Andy Kessler said in no uncertain terms, “this sure smells to me a suckers rally,” largely because “there aren't sustainable, fundamental reasons for the market's continued rise.”     I’m skeptical about this rally, reveals analyst Guy Adami.    U.S. Economy: Retail Sales Unexpectedly Fall for Second Month    GM, Chrysler to cut up to 3,000 dealers: sources (Reuters)       U.S. Foreclosure Filings Hit Record for Second Straight Month        Is Anyone Minding the Store at the Federal Reserve?             Unemployment up to 8.9%, The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc..  America is broke. How broke?   NSN Money | Government obligations for Social Security and Medicare may soon exceed the combined net worth of every household and nonprofit organization in the country.  Everyone is familiar with the old saying, "what goes up must come down." Certainly the stock market has mounted a serious challenge to this old saying since bouncing off its lows in March and continues to defy gravity…In the face of unrelenting bad news, the market has been climbing because the news is "less bad," Gentle Ben and his Merry Band of Feds see "green shoots" and the financial press continues an unrelenting mantra of "recovery lies just ahead." It seems like the markets will never stop climbing, but they will, because contrary to what you hear on CNBC and read in the financial press, the laws of gravity have not been repealed and it's still true that "what goes up, must come down."

…When measured in ounces of Gold, the DOW has been in a secular bear market since peaking in late 1999. (Click charts, courtesy of stockcharts.com, for full size image). The markets, measured by the S&P500 (S&P500 Charts) and DIJA (DJIA Charts), may have recovered to new highs in 2007, but the DOW:Gold ratio told a different, truer story of just how unhealthy the US economy was…

BEWARE OF THE SUCKER'S RALLY?  ‘…Most recently, the S&P 500 soared 24 per cent over seven weeks ending in early January, only to plunge to a new low. It was a fairly typical sucker’s rally and bear markets often need more than one to create sufficient disillusionment for a definitive bottom.  The 2000–2002 bear market had three, with average gains of 21 per cent in the Dow Jones Industrials over 45 days. The granddaddy of all bear markets, 1929 –1932, had six false alarms with an average gain of 47 per cent. And Japan’s ongoing bear saw the Nikkei rise by at least a third four times in its first four years with 10 more false dawns since then. Bear markets typically end with a whimper rather than a bang, casting doubt on the latest recovery according to Hussman Econometrics, which analysed numerous US market bottoms and bear market rallies. With the exception of the 1987 crash, the month before the lowest point of a downturn saw a gradual descent. By contrast, bear market rallies were preceded by steeper declines and had sharper rebounds. Another characteristic of bear market rallies has been modest volume on the rebound compared to the decline. The current recovery fits the pattern of bear market rallies in terms of volume and the “V” shape of the trough. Analysts at Bespoke Investment Group noted that there have been only seven other periods in the past 110 years with rallies of similar magnitude for the Dow. Three preceded the Great Depression, three came during the Depression and one in 1982…’
  New record for continuing unemployment claims and as with all government data, adp data, etc., is fudged to whatever way necessary to help froth the market. Short-covering explaining part of what remains of this continuing suckers’ bear market rally and as admonished by analyst at Farr Miller is a bull trap. How about plain old bull crap!  One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’  Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism   Art Cashin: "This rally is still somewhat suspect.   Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed."  Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold.   Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally.  …   …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.].  U.S. Economy in 2nd Straight Quarter of Steep Decline      "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through  Wall Street sags on oil; S&P ends worst week in 2 months     Following Chrysler, GM slashing U.S. dealers      SEC lawyers probed for insider trading      GM, Chrysler to drop 1,900 dealers by end of 2010      The Financial Storm      Obama Says U.S. Long-Term Debt Load ‘Unsustainable’       “The Worst Is Yet to Come”          China’s yuan ’set to usurp US dollar’ as world’s reserve currency       Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy    Dr. Doom: Capitalism Could Fail Like Communism         New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of          Home Prices Drop Most on Record...       Federal Hiring Frenzy......average pay $75,419       A Coming Flood of Equity Issuance, aka The Dilution Solution      Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report          Buffett's Berkshire has first loss since 2001       Are stocks a loser's bet?YES!     Deficits soar even with rosy assumptions in new Obama budget...    America is broke. How broke?    White House forecasts higher budget deficit       US red ink rising even higher, to $1.8T     Deficits soar even with rosy assumptions in new Obama budget...     STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds...      Gas price jumps to 6-month high...