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!
ANALYST
FORECASTS: BULLS AND BEARSBy 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 economyHOW 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
RECENTMASSIVE 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 dollarDollar 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 Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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 LOWSTYPICAL 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 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW 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
RECENTMASSIVE 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 dollarDollar 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 Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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. assetsJim 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. assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
Corporate
CFR Members Get Most of the Bailout Money New
American | Treasury Secretary Timothy Geithner served as a staff member of the
New York City-based Council on Foreign Relations before being hired in 2003 to
head the New York City branch of the Federal Reserve Bank.Watch out for the fake government stress tests (they lie
about everything!). Note the delay in the rollout. Bank analyst Cassidy says
bank plan a failure. Business week business analyst /reporter says (tongue in
cheek) the optimism (irrational exuberance) must be the advent of spring and
the birds chirping (in the heads of the wall street lunatic/frauds…cukoos).
Analysts/Economists comments include: slow release of stress test results,
details and accuracy of data crucial for stress tests (good luck!), things have
not bottomed out but pace of decline has slowed somewhat, bleak outlook for GM,
Chrysler and bankruptcy probably necessary because of legacy costs, and public
pension funds with ridiculously rich benefits the next shoe to drop. Oxdown Gazette sums up the crucial story | ‘The 12 trillion that is being floated to insolvent US banks is
essentially being looted in the paper economy’ (ie., churn and earn by wall
street fraudsters who must be prosecuted and forced disgorgement/forfeiture in
the massive securities fraud that still goes unmentioned though the source of
this economic debacle, etc.). Four more banks closed by regulators,
this years closures exceeding all of 2008 as depression continuesJohn Letzing, MarketWatch April 24, 2009 SAN
FRANCISCO (MarketWatch) -- Four banks in Georgia, Michigan, California and
Idaho were closed by regulators Friday, costing the Federal Deposit Insurance
Corp.'s deposit insurance fund nearly $700 million as the effects of the credit
crisis continued rippling throughout the U.S. economy.Kennesaw,
Ga.-based American Southern Bank marked the 26th bank failure of the year and
the fifth in the state of Georgia, the FDIC said. Farmington Hills, Mich.-based
Michigan Heritage Bank then became the 27th failure of 2009, followed by the
closure of Calabasas, Ca.-based First Bank of Beverly Hills. Alpharetta,
Ga.-based Bank of North Georgia has agreed to assume American Southern Bank's
deposits, the FDIC said in a statement…
All reasons for previous reality plunge have been
previously covered and warned of here in real time; ie., new meaningless FASB
accounting standards which wall street frauds rallied on now have sold off on,
worse to come in credit defaults/losses, leading indicators down again, etc.. April 17
(Bloomberg) -- David Tice, the chief portfolio strategist for bear markets at
Federated Investors Inc., said the Standard & Poor’s 500 Index will
probably plunge about 62 percent. He spoke during a Bloomberg
Television interview today. The Federated Prudent Bear Fund that he founded
returned 6.7 percent last year as the S&P 500 plunged 38 percent, the most
since 1937. Tice said the benchmark index for U.S. stocks may slump to about
325. It closed today at 865.30. The measure has surged 28 percent since March
9, the most in five weeks since the 1930s. SUCKER'S RALLY
APPROACHING AN END byPeter Cooper: Whatever the
technical reason for the 25 percent rise in the S&P over the past five
weeks, or a more modest eight percent bounce in GCC regional stock prices, the
absurdness of this sucker’s rally ought to be obvious to all. Unemployment is
still rising, house prices are still falling, and the fundamentals of bank
balance sheets are still deteriorating with total bad debts unknown except that
we know they must be getting worse. Global trade fell off a cliff in the first
quarter of the year. Even Mercedes car sales to the oil rich of the GCC fell 23
per cent. The collapse of the world’s second largest economy, Japan, has been
unprecedented. Bad news coming … The stock market pattern in 2008-9
has so far been a mirror image of the crash of 1929-30 with a halving of prices
from the autumn followed by a 25 per cent rally from March lows. In April 1930
stocks moved sideways and then they crashed another 50 per cent into the
summer… New record continuing unemployment claims in excess of 6 million, -11%
for new home sales (unexpected but stocks and even homebuilders rallied),
Bloomberg reports $13 trillion (much unaccounted for) taxpayer/bailout funds
spent/lent/stolen by who knows what/where/how (ie.,replace stolen funds?,
etc.), second largest mall co. to bankruptcy with more to come along with more
commercial real estate foreclosures. ‘…initial claims for the week ending
April 11 totaled 610,000, which is down more than expected from the prior week,
but continuing claims climbed more than expected to a new record of 6.02
million. Separately, housing starts disappointed investors hoping to find signs
of a recovery in home building. Housing starts for March totaled 510,000, which
was below the 540,000 starts that were expected and down from the prior month.
Meanwhile, building permits in March totaled 513,000, which is below the
549,000 permits that were expected, down from February…’
SUCKER'S RALLY APPROACHING AN END byPeter Cooper: Whatever the technical reason for the 25 percent rise
in the S&P over the past five weeks, or a more modest eight percent bounce
in GCC regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second
largest economy, Japan, has been unprecedented. Bad news coming
… The stock market pattern in 2008-9 has so far been a mirror image of the
crash of 1929-30 with a halving of prices from the autumn followed by a 25 per
cent rally from March lows. In April 1930 stocks moved sideways and then they
crashed another 50 per cent into the summer. What possible reason is there for
optimism to believe that history will not repeat itself? Government stimulus
packages have more than likely been too small and too late to prevent another
down leg in stocks, and will take time to revive the real economy, if indeed
they can do so. They might just stop the worst possible scenario but are they
going to prevent the plunge downwards? Governments have not managed it so far. Consumers and unemployment
…It will take more than weasel words from US bankers and ‘green shoots’ in the
waffle of President Obama to put things right. Eventually global stock markets
will reach a bottom but they are not close to having visited it just yet. Wall
Street and its friends are playing investors as suckers but they are in danger
of overdoing it. For once these guys are impoverished where will the next bunch
of fools come from? Goldman Sachs' (GS) results this week might well mark the top of the
rally, beyond that the only way is down.
Industrial production down –13%, most since
WW2. The wall street frauds celebrate increase real estate sales…on increased
foreclosures…riiiiight! U.S. foreclosure filings jump as
moratoriums endUS foreclosures up 24 percent in 1st
quarterJim Rogers Says Investors Should
Expect More BottomsStill not one prosecution as
new churn and earn fraud/bubble begins with taxpayer bailout funds (old
reliable foggy/sell the sizzle tech sector now the wall street frauds’
refuge-remember the dot com bust, etc.).BULL S**T STORIES
FOISTED AS B.S. TALKING POINTS FOR CONTINUING FRAUD/SPIKE IN STOCK PRICES FOR
CHURN AND EARN COMMISSIONING: WELLS FARGO
RECEIVED $25 BILLION TAXPAYER MONEY/BAILOUT FUNDS AND SHOWS (RECORD FOR THEM?)
$3 BILLION QUARTERLY PROFIT- GOLDMAN RECEIVED $10 BILLION PLUS UNDISCLOSED FED/
ULTIMATELY TAXPAYER MONEY AND REPORTS QUARTERLY$1.8 BILLION PROFIT-MORGAN CHASE RECEIVED $25
BILLION AND REPORTS QUARTERLY$2+
BILLION PROFIT – CITI RECEIVED $25 BILLION AND REPORTS QUARTERLY$1 BILLION LOSS -BANK OF AMERICA RECEIVED $45 BILLION AND REPORTS QUARTERLY$3+ BILLION PROFIT AND SETS ASIDE $13
BILLION FOR LOAN LOSS RESERVES – MORGAN STANLEY RECEIVED $10 BILLION AND REPORTS
QUARTERLY$1 BILLION LOSS - DO THE MATH
(FIRST GRADE ELEMENTARY SCHOOL KIDS COULD DO AS WELL, AND FOR FAR LESS PAY) -
AT THAT RATE, TAXPAYERS WILL SOON HAVE NOTHING LEFT FOR THEM TO TAX! WHAT
FRAUDS! The Great Geithner CoverupWHAT TOTAL BULL S**T!…[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. Treasury
asking banks keep quiet on stress testsNew unemployment claims at high 654,000 praised as positive
number… riiiiight! …as continuing unemployment claims at record 5.84 million
(real numbers even worse). Economy so bad that consumers can’t buy goods so
trade deficit shrank but this is a structural defect in u.s. economy so not
good news and consistent with bad news of still plunging retail sector. Najarian points out that wall street always a circus,
consolidation, robbing peter to pay paul, take profits; while economist cite
Reich that we’re in depression and government as in land of fruits and nuts out
of control. Earnings revised downward
for first quarter –36.5%, more weakness, more unemployment, inflation to come
on fast says Hogan, and insurance companies now que up at corporate
welfare/taxpayer bailout lines.In positing (suckers’) bear market rally and
advocating hold cash/sell stocks Hillary Kramer points to the preposterous on
wall street where bad news greated as good vis-ŕ-vis stocks (they call what
wall street does ‘fraud’…in a rational world where they would already be in
jail).Madman
Cramer – the ultimate contrarian indicator
- CRAMER'S CALL: ANOTHER RALLY TOP
INDICATOR Greg FeirmanWow, the bulls
are really feeling good. “Wells Fargo Carries The Day” and the
S&P and Dow closed at 2 months high and the Nasdaq is near its highs for
the year. On Mad Money this evening, Cramer went so far
as to call “a turn in the economy”, saying “the facts have changed”, “the
situation has clearly improved” and “things are getting better”. This isn’t the
first time Cramer has called a bottom and he’s been wrong before (For example,
see “Cramer Declares The End Of The Bear Market”
, Top Gun FP, July 31, 2008). The market topped out a couple weeks later. On Monday
October 6, Cramer went on the today show and told people to sell
any stock money they might need in the next five years. The market bottomed
that Friday. It could run another couple weeks but this rally is running thin. Methinks
me smells a top…..Rational
View Courtesy of ETF.COM:
‘…Due to our expectations of continued weakness in the financial sector, the
looming deterioration of commercial real estate, the credit markets tepid
backing of the equity rally, and the still very shaky and highly volatile global
economy, it's our view at ETFdesk.com the recent run-up in stocks is
unwarranted and presents an overly optimistic view of the months ahead. We
believe investors should consider taking short term profits or use the recent
run to reduce equity exposure they are weary of. We also believe investment
grade debt (NYSEArca: LQD - News) represents an opportunity for investors
seeking beaten down prices without the downside volatility of equities…
THE FOLLOWING AT LEAST TO PREVIOUS (7-6-09) IS
MUST READ:
SELLER
April 17 (Bloomberg) -- David Tice, the chief
portfolio strategist for bear markets at Federated Investors Inc., said
the Standard & Poor’s 500 Index will probably plunge about 62 percent.
He spoke during a Bloomberg Television interview today. The Federated Prudent
Bear Fund that he founded returned 6.7 percent last year as the S&P 500
plunged 38 percent, the most since 1937. Tice said the benchmark index for U.S.
stocks may slump to about 325. It closed today at 865.30. The measure has
surged 28 percent since March 9, the most in five weeks since the 1930s.
SUCKER'S RALLY APPROACHING AN END byPeter Cooper: Whatever the technical reason for the 25 percent rise
in the S&P over the past five weeks, or a more modest eight percent bounce
in GCC regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second
largest economy, Japan, has been unprecedented. Bad news coming
… The stock market pattern in 2008-9 has so far been a mirror image of the
crash of 1929-30 with a halving of prices from the autumn followed by a 25 per
cent rally from March lows. In April 1930 stocks moved sideways and then they
crashed another 50 per cent into the summer. What possible reason is there for
optimism to believe that history will not repeat itself? Government stimulus
packages have more than likely been too small and too late to prevent another
down leg in stocks, and will take time to revive the real economy, if indeed
they can do so. They might just stop the worst possible scenario but are they
going to prevent the plunge downwards? Governments have not managed it so far. Consumers and unemployment
…It will take more than weasel words from US bankers and ‘green shoots’ in the
waffle of President Obama to put things right. Eventually global stock markets
will reach a bottom but they are not close to having visited it just yet. Wall
Street and its friends are playing investors as suckers but they are in danger
of overdoing it. For once these guys are impoverished where will the next bunch
of fools come from? Goldman Sachs' (GS) results this week might well mark the top of the
rally, beyond that the only way is down.
Madman Cramer – the ultimate contrarian indicator - CRAMER'S CALL:
ANOTHER RALLY TOP INDICATOR Greg FeirmanWow, the bulls are really feeling good. “Wells Fargo
Carries The Day” and the S&P and Dow closed at 2 months high
and the Nasdaq is near its highs for the year. On Mad Money this evening, Cramer went so far
as to call “a turn in the economy”, saying “the facts have changed”, “the
situation has clearly improved” and “things are getting better”. This isn’t the
first time Cramer has called a bottom and he’s been wrong before (For example,
see “Cramer Declares The End Of The Bear Market”
, Top Gun FP, July 31, 2008). The market topped out a couple weeks later. On Monday
October 6, Cramer went on the today show and told people to sell
any stock money they might need in the next five years. The market bottomed
that Friday. It could run another couple weeks but this rally is running thin. Methinks
me smells a top…..
Rational
View Courtesy of ETF.COM: ‘…Due to our expectations of continued
weakness in the financial sector, the looming deterioration of commercial real
estate, the credit markets tepid backing of the equity rally, and the still
very shaky and highly volatile global economy, it's our view at ETFdesk.com the
recent run-up in stocks is unwarranted and presents an overly optimistic view
of the months ahead. We believe investors should consider taking short term
profits or use the recent run to reduce equity exposure they are weary of. We
also believe investment grade debt (NYSEArca: LQD
- News) represents an opportunity for investors
seeking beaten down prices without the downside volatility of equities…’
Art Hogan recently
summed up choosing stocks in this environment thusly: ‘pick the best-looking
horse at the glue factory’…..I think he was as a courtesy to his industry
overly generous. The administration pitches hardballs to the auto industry
while continuing to pitch powder puffs to the wall street frauds who have
perpetrated the largest (securities) fraud in recorded history, turning a
cyclical downturn into what is now unavoidably depression, putting beleagered
taxpayers in the unfathomable position of funders/guarantors of the scam/fraud
in bailing out the perpetrators of the crimes (bush’s infamous base) who have
financially benefited enormously (fees, commissions, spreads, points, salaries,
expenses, bonuses, etc.) from their fraud/crimes. Still not even one prosecution from this administration even though
disgorgement, the legal remedy among other criminal penalties, would aid the
defacto bankrupt u.s. treasury! ON WHETHER BEN BERNANKE HAS REDEEMED HIMSELF AND WHAT THAT MEANS FOR
STOCKS:
I do not think
so. On the contrary, I think what the government is doing and its economic
"dream team" under Mr. Bernanke and Mr. Geithner and Mr. Summers are
going to be, from a longer term point of view, rather negative.
But, you understand, we can all sit here and say it will all end in disaster.
That I'm sure. But, in the meantime, we can have big moves in markets.
On the new bad assets purchase
plan:
I think he's
doing the politically expedient thing from a very short term perspective. If
you have cracks in your walls and just put paint on it, it will hide them and
then you sell your house. But it won't solve the problems of the cracks - it's
the next owner and these are the children of the current taxpayer who will pay
for it.Marc Faber: 'It Will All
End in Disaster'
It bears repeating, so preposterous was 3-23-09 Pavlov dogs rally
[conditioning to associate what’s good for fraudulent wall street, viz.,
privatizing profits – still not one prosecution for what now is the largest
fraud/scam/swindle in the history of this planet – and socializing the losses,
is somehow positive for america/the economy by the magnitude of this suckers’
bear market rally and prior market manipulations] when the same created the
instant crisis in the first instance (don’t worry about the frauds on wall
street, they’ll get their commissions again on the way down as they did in
creating this financial debacle/fraud as they clamor for more taxpayer/treasury
money).They’re still printing/creating
those worthless Weimar dollars like mad, China Urges New Money Reserve to Replace Dollar ,don’t know what they’re doing, are clueless, and disingenuously seek to divert
attention from the missing/stolen/bilked $14 trillion of taxpayer money with
the subterfuge of outrage over the relatively miniscule though not unimportant
million dollar bonuses (AIG, etc.), so-called fixes/plans, etc., so SELL/SELL INTO
RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO
COME! What the Pros Say: US Is Now ‘Bankrupt’ US is Already Bankrupt: AnalystU.S. Budget Office offers darker economic and deficit
outlookThe Geithner-Summers-Bernanke Plan
to Prop Up Asset Prices Has Failed U.N. panel says world should ditch
dollar
Fierman: How quickly things change…..
Some stats from today’s rally:
S&P: +54 (7.1%) to 823
Dow: +497 (+6.8%) to 7776
NYSE Up Volume: 1,866,836,012
NYSE Down Volume: 44,683,760
NYSE Total Volume: 1,914,836,622
It was just 2 weeks ago (March 9th) that the S&P closed at 12-year lows and
the stock market felt like it was forecasting the end of the world. We’ve now
rallied 22% in 2 weeks! But if we look at the catalysts for this rally, they
really don’t seem to justify such an explosive move. Citi said they were profitable in
the first two months of the year and JP Morgan (JPM)
and Bank of America (BAC)
said they were too. The Fed initiated some serious
quantitative easing. And now Geithner’s toxic asset plan this
morning. I agree with the Capital Spectator when he wrote this morning:
We’re skeptical largely
because the rally this month has drawn power primarily from a new round of hope
that Washington’s various experiments to right the economy will finally hit pay
dirt. Perhaps, but it’s not the stuff that powers sustainable rallies, much
less secular bull markets. We’re Sellers of This Rally!
Lawrence York
‘Treasury
Secretary Geithner has released his plan to mop-up the toxic assets held by
banks that threaten their solvency and the global financial system.
Accordingly, the plan purposes that private equity firms partner with the Fed
to purchase bank assets at some discount set by the private firms at auction.
Then the Fed will leverage the purchase six-fold to buy more bank assets and
assume all the risk of leverage. In other words, private firms will set the
price and then put up half the initial purchase price. The Fed will then put up
non-recourse loans to purchase six times more debt at the same price to be
owned by the joint venture partners. If the deal works private equity splits
the booty equally. If the deal fails, the government loses upwards to six times
taxpayer's money and private equity loses only its original equity match equal
to 1/6 the total loss.
Flabergasted?
Don't be. How often can you cut a deal where you get to set the price and your
partner puts in six times your money and you split the profit. IF THESE DEAL
TERMS DON'T UNDERSCORE WHY THE GOVERNMENT SHOULD NOT HANDLE YOUR MONEY AND WHY
THE GOVERNMENT SHOULD STAY OUT OF BUSINESS, WHAT DOES? Other deal terms are
that the Fed will designate the private equity players, at least initially.
Could it be that the Fed is creating another pass-through mechanism to
simultaneously bail out or reward its friends? If so, look for Goldman Sachs (GS), Merrill, Blackstone (BX), Carlye Group, Texas Pacific Group, and
perhaps Bear Stearns to be players. Look also for the typical MOS of some
Structured Investment Vehicle, not much different from the Maiden Lane III SIV,
to backstop or divert money where it needs to be--by gratuitous selection that
is. Oh, and never mind that Private Equity may be joined by the Libyan
Investment Authority (LIA and Private Equity article by Financial Times) as Private Equity at
present is having a bit of a liquidity crunch with their own deflated, illiquid
assets. In short, the Geithner Toxic Asset Plan is just another bank bailout
and footnote to this era of 'Dark Capitalism" where profits are reaped and
losses socialized in an ever transparent way.’
Trevisani: ’…The beginning of quantitative easing
calls all three ideas in question; it increases the supply of dollars
effectively lowering US interest rates well below Europe’s; the need for such
an unprecedented step undermines the hope for a US recovery; and a devaluing dollar
cannot be a safe haven. Add the projected Federal deficits and the dollar
begins to look very vulnerable. If the Europeans go down the same quantitative
road then the dollar’s disabilities may be matched by the euro’s. But if they
are not, then the Bernanke dollar call may not be an option to buy but a call
to sell…’ China and most of the financial world outside the u.s. agrees with the
latter. China Urges New Money Reserve to Replace DollarKremlin to Pitch New Currency...
EMBRACE THE BEAR By Rev Shark There is an old
saying that in a bear market, we slide down the slope of hope. Unfortunately,
we have seen plenty of good examples of how that works over the past year. We
have had dozens of new initiatives to try to bolster the economy that create
hope for a few days. The market will get excited and we'll have some big point
gains, but then doubts begin to surface about how easily it will be to turn
this economic supertanker that is going over a waterfall. The buying stalls
out, a few dip-buying attempts are made, but eventually we break support levels
and more downside ensues. That is classic bear market action but the standard
Wall Street reaction is to not accept it…[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.) 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. - Analyst Andre Egleshion puts the amount at $600+trillion]…INVESTORS
…..FOOLED (at least today) By Rev Shark …..realization that
economic stimulus isn't going to be nearly as simple or easy (or effective) as it
sounds. We aren't going to spend our way out of this economic spiral …We'd
probably be better off if the government did less rather than more. The great
likelihood is that the unintended consequences we suffer will prolong the whole
cycle. We have to let some bad businesses and financial institutions fail…
HERE’S THE REAL DEAL: SUMMARY/RECAP OF LORIMER
WILSON 3-17-09 ANALYSES/REVIEW Harry Dent, Jr.
Economy will be in a Depression by 2011
The worst of this next depression is likely to hit between mid-2010 and
mid-2013, especially around early 2011, but if the banking system continues to
implode a deep downturn or depression could begin sometime in 2009 instead of
2010.
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the
latest.
Inflation will Increase until mid- 2010 and then turn to Deflation
Interest Rates will Increase
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010
and 2012
Russell Napier is the author of
the book “Anatomy of the Bear”, a professor at the Edinburgh Business School
and a consultant to CLSA Ltd. which is one of the top research houses in Asia.
Napier’s research indicates (and I paraphrase) that:
The S&P 500 will Decline to 400 by 2014 (the Dow 30 to 3800)
The S&P 500 will then undergo a major crash that will see U.S. equity
prices bottom at almost 50% below current levels (i.e. to 400 or less; the Dow
30 to 3800 or less) sometime around 2014 as Tobin’s “q” drops to 0.3 signaling
the end of the bear market, as it has done at the end of the four largest U.S.
market declines in 1921, 1932, 1949 and 1982.
U.S. Treasury Sales Could Collapse Leading to End of U.S. Dollar as Reserve
Currency
Robert R. Prechter Jr. is author of a
number of newsletters and books including “Elliott Wave Principle” (1978) in
which he predicted the super bull market of the 1980s; “At the Crest of the
Tidal Wave – A Forecast of the Great Bear Market” (1995) in which he predicted
a slow motion economic earthquake, brought about by a great asset mania, that
would register 11 on the financial Richter scale causing a collapse of historic
proportions; and “Conquer the Crash: You can Survive and Prosper in a
Deflationary Depression” (2002) in which he described the economic cataclysm
that we are just beginning to experience and advised how to position one’s self
financially during that period of time.
Depression is Imminent
The Dow Jones Industrial Average will go down to at least 1000, most likely to
below 777 which was the starting point of its mania back in August 1982, and
quite likely drop below 400 at one or more times during the bear market.
Regulator: Before Banks Collapsed,
They Pleaded With Feds To Let Them Fudge Their BooksRyan
Grim | Before financial institutions collapsed, they went
to the Financial Accounting Standards Board, pleading for a change in
mark-to-market accounting rules so that they can continue to appear to be
solvent on their balance sheets and hence, continue to defraud the public as
they are now once again trying to do. This says it all!Will FASB remain viable by resisting
fudge/fraudfactor. Suckers’ bear
market rally(Citigroup Inspired Bear Market Suckers’ Rally ) to keep the suckers suckered and commission dollars flowing to the frauds
on wall street
Why we think
this is a (suckers’) bear market rally:
Citing 13
reasons that the bear will continue in spite of this rally seems appropriate.
1. Current P/E:
the current 20+ P/E on trailing “as reported earnings” is too high for this set
of negative sales, earnings and dividends growth conditions.
2. Forward P/E:
the projected 2010 S&P 500 earnings by Standard and Poor’s at about $40
would only support 800 at best (20 P/E), and more likely would support 600 (15
P/E), assuming there was a general recovery under way — before that time, the
current market should sell for less than 800, and perhaps less than 600.
3. Earnings:
profits are still declining in the aggregate
4. Dividend
Yield: banks and other companies continue to cut dividends, reducing stock
appeal and putting total return in question until dividends stabilize and begin
to grow (historically dividends generated about 1/3 of total return for the
S&P 500)
5. Revenue:
overall sales are down — declining sales, earnings and dividends are not
reasons for bullish markets.
6. World GDP
Growth: credible parties (Goldman Sachs, IMF, and noteworthy individuals, such
as Nouriel Roubini, predict worsening global economies) — until forecasts for
improvements within 12 months or less for the US or world economies become
prevalent, the market is unlikely to “anticipate” with a sustainable trend
reversal to a bull
7. Government
Intervention: the US and global economies are currently highly government
policy dependent, and while policies are becoming more clear, they are not all
revealed, and there are suggestions more may be needed — the resulting
uncertainty warrants low valuation until government policies to “save” and
“stimulate” economies are no longer the centerpiece of investor hopes and
earnings prospects
8. Real Estate:
the US and global real estate asset deflation continues with waves of negative
impact on household and institutional wealth — until property prices stabilize,
or are believed to be about to stabilize, a new bull market will have
difficulty gaining traction.
9. Other Bank
Shoes to Drop: the major banks have not yet experienced likely future
write-downs associated with non-mortgage asset types, such as credit cards and
auto loans.
10. Auto
Industry: the fate of GM,
Chrysler and the entire supply chain is uncertain with unknown government
involvement.
11. LBOs:
private equity firms built on leverage may not be able to continue to service
and rollover the debt they used to make recent optimistic acquisitions — those
debts could be a further burden on the financial sector.
12. Retirees
and Pre-Retirees: the 55 and over crowd who control the largest portion of US
private assets are not as likely to risk their life accumulations in stocks
relative to bonds as they were in the boom times of the last couple of decades
— that will delay the onset of a bull and subdue the extent of a bull when it
occurs
13. Credit
Availability: the credit and leverage availability that helped the US stock
market recover from the 2002-2003 bottom is not available at this time to
increase household expenditures and corporate capital investment — even the US
government may be put on credit rationing by China, which today said it is
“worried” about the credit quality of their US Treasury holdings, which has
implications about their willingness to support the borrowing our “stimulus”
programs require and assume to be available.ByRichard Shaw
Analyst Andre
Egleshion points to continuing effect of credit default swaps and pegs the
amount of the worthless, fraudulent (previously sold, commissioned, repackaged,
resold, re-commissioned, etc.) securities at $600-$675 TRILLION, their continued effect on money
pit AIG, that fed’s received $11.7 trillion since 2008 yet refuses transparency
as to where funds spent, who received same, etc., agrees with comment that
shockingly no prosecutions yet,economy
re-tooling, need for stiffer regulation, points to historical fact that fiat
currencies and private central banks have consistently failed, sees
hyperinflation with dollar weakness (printed/created like mad) and higher oil. Hopes for funny
assets [in addition to funny money, other fraud, relaxation of
rules/laws/enforcement (real asset values) (remember the exemption from RICO
garnered by fraudulent wall street-those campaign contributions really pay off,
etc.) ], spur suckers’ bear market short-covering rally to keep the
suckers suckered and commission dollars flowing to the frauds on wall street so
SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE
MUCH, MUCH WORSE TO COME!NOW LISTEN HERE,
FOR THIS IS TRUTH!: There is not enough money in the entire world to cover the
fraudulent securities foisted/commissioned/ distributed/sold by the wall street
frauds/perpetrators which if assumed/guaranteed by the u.s. government (don’t
forget that social security/medicare are already technically insolvent/bankrupt
- all monies/reserves going into the general account and already and
continually spent) will only guaranty the insolvency of / worthlessness of the
currency of the u.s. treasury.Cost to buy
protection against U.S. government default surgesFrank just said that he wants to prosecute those
who’ve caused this crisis…waxman was supposedly doing just that in part(fog of war fraud-360 tons of $100 dollar
bills stolen), etc…. If they don’t do this as said, among others, they should
be forced resign as complicit. THERE IS NO MYSTERY HERE; HENCE, NONE SHOULD BE
AFRAID TO LOOK, PROSECUTE, AND FORCE DISGORGEMENT!Celente: U.S. Has Entered “The
Greatest Depression” …‘…Watch for fake
reports and continued jawboning/spin/b.s. regarding bailout/stimulus as they
are desperate yet remain protective of the criminals who caused the crisis with
their fraud in staggering amounts far beyond
the substantial scam by madoff ($50 billion) who now audaciously from his $7
million NYC penthouse seeks ownership of same along with $62 million (only in
systemically fraudulent america). Why are they not seeking disgorgement from
the criminals who benefited from the huge multi-trillion dollar fraud they
perpetrated? No one yet has asked tiny tim geithner where the missing $4
trillion at the fed is…Why? Then there’s the $2 trillion in taxpayer money, the
destination of which the fed refuses disclosure of…Fed Hides Destination Of $2 Trillion In Bailout Money…Why? How? This is criminal activity of monumental proportion, yet
protected by the bureaucratic complicit frauds (I’ve experienced this directly in my RICO
case), damaging lives here
and abroad.Then there’s also the
illegal wars, war-profiteering, war crimes, etc., that have bankrupted this
nation, killed many innocents, etc., [remember, ie., the 360 tons of hundred
dollar bills flown into Iraq that democrats/land of fruits and nuts henry
waxman (doesn’t he look like a hedgehog or some other rodent) the lying fraud
talked endlessly about while republicans were at the helm, yet nothing…no
prosecutions…the frauds who stole that money should put same in the failed
‘stimulus fraud pot’…at the least, etc.].An analyst previously said 2011-2014 earliest for bottoming at best.Another analyst
previously pointed out there has been not one prosecution thus far and the
frauds on wall street should be prosecuted and forced disgorgement.…[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.]. Analyst Frank Cochrane
looks ahead to 4,000 to 6,000 on the DOW, 700 to 900 on the NASDAQ, and 425 to
625 on the S&P, and says spending/stimulus programs will not work, a point
on which he is correct and the low end of his ranges closer to reality.Not Just a Few Bad Apples - Corruption is Systemic in America In case you believe that there
are only “a couple of bad apples” in the United States, here is an
off-the-top-of-his-head (I could give many, many more including my RICO
case) list of corruption
by leading pillars of american society.
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 RECENTMASSIVE 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! ]
PREVIOUS 7-6,2-09, PREPOSTEROUS WAS THIS SURGE IN THE LAST 20 MINUTES INTO THE CLOSE FOR
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...America’s Effective Unemployment Rate at 18.7%?US loses
467,000 jobs, unemployment at 9.5% 'We're in the Middle of a Crash': Black Swan...(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 doubleJim 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 timeTracking Two
Depressions, 1929 and now thisHOW 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 RECENTMASSIVE 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 dollarDollar 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 Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 7-1-09, 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 economyHOW 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
RECENTMASSIVE 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 dollarDollar 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 Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 7-1-09, 6-30-09, SECULAR BEAR MARKET SUCKERS’ RALLY
TO END WELL OFF SESSION LOWSTYPICAL
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 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW 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
RECENTMASSIVE 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 dollarDollar 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 Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical Damage
Stocks tumble on bleak outlook for world economyU.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. assetsJim 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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 6-29-09, Worthless dollar/High oil price stock
rally…riiiiight!...Then there’s the madoff propaganda event Fraudster
Madoff gets 150 years, with prosecutors patting themselves on the
back when the reality is that there has been not even one prosecution in the
massive securities fraud which benefited the wall street frauds greatly and
make madoff look like a piker.Four banks
fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW 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
RECENTMASSIVE 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 dollarDollar 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 Riseforeclosure sales
up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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. assetsJim 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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 6-26-09, Worthless dollar/High oil
price stock rally…riiiiight!...Then there’s the madoff propaganda event Fraudster
Madoff gets 150 years, with prosecutors patting themselves on the
back when the reality is that there has been not even one prosecution in the
massive securities fraud which benefited the wall street frauds greatly and
make madoff look like a piker.Four banks
fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW 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
RECENTMASSIVE 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 dollarDollar 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 Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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. assetsJim 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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 6-26-09, SECULAR BEAR MARKET SUCKERS’ RALLY TO END MIXED. 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 RECENTMASSIVE 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 dollarDollar 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 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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 6-25-09, 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... ,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 Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 6-24-09, SECULAR BEAR MARKET SUCKERS RALLY CONTINUES FOR MIXED CLOSE 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... ,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%;foreclosure sales up 2.4%, prices down 17% year over year, 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. assetsJim 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.
assetsInsiders Exit Shares at the Fastest
Pace in Two YearsBUFFET:
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!
PREVIOUS 6-23-09, SECULAR BEAR MARKET SUCKERS RALLY INTACT 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., U.S. Home Prices Drop 6.8 Percent in
April as Foreclosures Riseforeclosure sales up 2.4%, prices down 17% year over
year, [$$] Market Suffers Some Technical Damage
Stocks tumble on bleak outlook for world economyU.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. assetsJim 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., 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 , 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!
PREVIOUS 6-22-09, ONLY MODEST LOSSES RELATIVE TO REALITY IN THIS SECULAR BEAR MARKET TO KEEP
SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING [Goldman Sachs on pace for record bonuses: report
(Reuters)] BASED ON
CONTINUED BAD NEWS(
ie.,Insiders Exit Shares at the Fastest
Pace in Two Years[$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.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. assetsJim 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., 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. assetsInsiders Exit Shares at the Fastest
Pace in Two Years[$$] Market Suffers Some Technical
Damage -----Existing home foreclosure sales
up, and no profit discount car sales better than expectedDiluting like crazy
through new stock bubble issuesMarket Manipulation/Fraud: How
Financial Markets Really WorkEconomist
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!
PREVIOUS 6-19-09, SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLYINTO THE CLOSE AS STOCKS END MIXED STILL IN DEFIANCE OF REALITY
TO KEEP SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING BASED ON CONTINUED BAD
NEWS( ie.,U.S. regulators close their
40th bank of the year,Next
Major Move In Stock Market Will Be Down 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., 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, 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!
PREVIOUS 6-18-09, SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLYINTO THE CLOSE AS STOCKS END MIXED STILL IN DEFIANCE OF REALITY
TO KEEP SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING BASED ON CONTINUED BAD
NEWS( ie.,U.S. regulators close their
40th bank of the year,Next
Major Move In Stock Market Will Be Down 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., 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. , 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!
PREVIOUS 6-18-09,MORE TALK OF NEW REGULATORY SCHEME
WHEN PROSECUTION AND DISGORGEMENT WOULD REALLY BLUNT INCENTIVE FOR WALL STREET
FRAUDS PROSPECTIVELY, SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLYON LEADING INDICATORS UP FAR MORE THAN
EXPECTED … BULL S**T …BASED IN LARGE PART ON INFLATED STOCK PRICE COMPONENT …
MORE BULL S**T … AS STOCKS END MIXED STILL IN DEFIANCE OF REALITY TO KEEP
SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING BASED ON CONTINUED BAD NEWS( ie., 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. assetsJim 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., 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. assetsforeclosure 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!
PREVIOUS 6-16-09,SECULAR BEAR MARKET AND ONLY
MODEST LOSSES RELATIVE TO REALITY TO KEEP SUCKERS SUCKERED AND COMMISSION
DOLLARS FLOWING BASED ON CONTINUED BAD NEWS( ie., analysts concur in significant 5-15%
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----- 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,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.,
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. 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!
PREVIOUS 6-15-09,SECULAR BEAR MARKET PROGRAMMED
SUCKERS RALLY INTO THE CLOSE TO FINISH WELL OFF THE LOWS WITH MODEST LOSSES
RELATIVE TO REALITY TO KEEP SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING
BASED ON CONTINUED BAD NEWS(
ie., 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.,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., 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. assetsforeclosure
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 BEARSBy 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.”
PREVIOUS 5-6-09, Yes, there is a full moon which explains inlarge part this ridiculous up
move on bad news and bull s**t alone so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!Some short-covering explaining part of this
continuing suckers’ bear market rally, the other 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 optimismArt 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
throughBofA, Citi,
Wells need capital under stress testsNEED BILLIONS AND BILLIONS MOREBank stress tests show some
banks need more fundsAlmost a Quarter of U.S.
Homeowners Are UnderwaterBanks Need Billions MoreGlobalizing the InternetHedge Fund
Leader Blasts Obama for “Bullying” and “Abuse of Power”About that “loan”:
Obama team writes off $7 billion taxpayers loaned Chrysler $56: Oil prices
jump to new high for year...US wants Israel, India, Iran to sign NPTBetrayal of the People By Wall Street, Banks, and
GovernmentFLASH: Treasury
Borrows Record $361 Billion for 2nd Quarter...The Great Geithner CoverupObama
Maintains His Perfect Batting Average for AppointingFailed Insiders to Key Economic PostsSecretary of Labor Reich:
Unemployment Numbers Show We’re Already In a Depression
GM goes for broke CNNMoney | General Motors announced
plans Monday to cut 23,000 U.S. jobs by 2011, drop its storied Pontiac brand
and slash 40% of its dealer network in its latest bid to stay out of
bankruptcy.
PREVIOUS 4-24-09, suckers’ bear market
rally to keep suckers sucked in based on bad news ( new home sales down,
durable goods sales down, 4 more bank failures, GM borrows $2 billion more,
Ford loses almost $2 billion, Microsoft reports first decline in revenue
ever,U.S. Initial Jobless Claims Rose to
640,000 Last Week as Continuing Claims Exceed 6.1 million for new record …k,
etc., home sales down 3%,
prices down 12%, etc. ) and bull s**t ( dilutive stock issues, not as bad as expected, etc. ) alone to keep fraudulent wall street’s churn and earn commissionable
bubble ( Interview with Peter Schiff: Reflating the Bubble) fraud rolling (on the way up and
on the way down) so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE
YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Watch out for the fake government stress
tests (they lie about everything!). Note the delay in the rollout. Bank analyst
Cassidy says bank plan a failure. Business week business analyst /reporter says
(tongue in cheek) the optimism (irrational exuberance) must be the advent of
spring and the birds chirping (in the heads of the wall street
lunatic/frauds…cukoos). Analysts/Economists comments include: slow release of
stress test results, details and accuracy of data crucial for stress tests
(good luck!), things have not bottomed out but pace of decline has slowed
somewhat, bleak outlook for GM, Chrysler and bankruptcy probably necessary
because of legacy costs, and public pension funds with ridiculously rich
benefits the next shoe to drop. Oxdown Gazette sums up the crucial story | ‘The 12 trillion that is being floated to insolvent US banks is
essentially being looted in the paper economy’ (ie., churn and earn by wall
street fraudsters who must be prosecuted and forced disgorgement/forfeiture in
the massive securities fraud that still goes unmentioned though the source of
this economic debacle, etc.). Four more banks shuttered as credit crunch
shakes outWhy
Housing Is Not Coming BackObama Talks Credit Cards, Summers
Nods OffThis Volatility Is Off the Charts! Banks May Struggle After 'Stress Tests'; Bad Assets Triple...
Four more banks closed by regulators, this years
closures exceeding all of 2008 as depression continuesJohn Letzing, MarketWatch April 24, 2009 SAN
FRANCISCO (MarketWatch) -- Four banks in Georgia, Michigan, California and
Idaho were closed by regulators Friday, costing the Federal Deposit Insurance
Corp.'s deposit insurance fund nearly $700 million as the effects of the credit
crisis continued rippling throughout the U.S. economy.Kennesaw,
Ga.-based American Southern Bank marked the 26th bank failure of the year and
the fifth in the state of Georgia, the FDIC said. Farmington Hills, Mich.-based
Michigan Heritage Bank then became the 27th failure of 2009, followed by the
closure of Calabasas, Ca.-based First Bank of Beverly Hills. Alpharetta,
Ga.-based Bank of North Georgia has agreed to assume American Southern Bank's
deposits, the FDIC said in a statement… Germany’s slump risks
‘explosive’ mood as second banking crisis looms China Increases
Gold Reserves 76% to Fifth-Largest
PREVIOUS 4-22-09,modest losses relative to reality in mixed market close so SELL/SELL INTO
RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO
COME! Oxdown Gazette sums up the crucial story | ‘The 12 trillion that is being floated to insolvent US banks is
essentially being looted in the paper economy’(ie., churn and earn by wall
street fraudsters who must be prosecuted and forced disgorgement/forfeiture in
the massive securities fraud that still goes unmentioned though the source of
this economic debacle, etc.). ‘For the second session in a row, stocks opened lower
but buyers moved in to bid the major indices higher (based on nothing at all).
However, upward momentum stalled as the S&P 500 approached the 850 level in
the final hour of trading, which prompted sellers to re-enter the fold and hand
stocks a sizeable loss. The late selling effort focused on financial stocks,
which closed with a loss of 3.8%, worse than any other sector in the S&P
500. Shares of Morgan Stanley (MS 22.44, -2.21) weighed
heavily on the financial sector after the company reported a
larger-than-expected first quarter loss and a dividend cut.’
PREVIOUS 4-17-09
(4-14,15,16,-09), Suckers’ rally into the
close to keep the suckers’ suckered on bad news and bull s**t alone so SELL/SELL INTO
RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO
COME!
April 17 (Bloomberg) -- David Tice, the chief
portfolio strategist for bear markets at Federated Investors Inc., said
the Standard & Poor’s 500 Index will probably plunge about 62 percent.
He spoke during a Bloomberg Television interview today. The Federated Prudent
Bear Fund that he founded returned 6.7 percent last year as the S&P 500
plunged 38 percent, the most since 1937. Tice said the benchmark index for U.S.
stocks may slump to about 325. It closed today at 865.30. The measure has
surged 28 percent since March 9, the most in five weeks since the 1930s. SUCKER'S RALLY
APPROACHING AN END byPeter Cooper: Whatever the
technical reason for the 25 percent rise in the S&P over the past five
weeks, or a more modest eight percent bounce in GCC regional stock prices, the
absurdness of this sucker’s rally ought to be obvious to all. Unemployment is
still rising, house prices are still falling, and the fundamentals of bank
balance sheets are still deteriorating with total bad debts unknown except that
we know they must be getting worse. Global trade fell off a cliff in the first
quarter of the year. Even Mercedes car sales to the oil rich of the GCC fell 23
per cent. The collapse of the world’s second largest economy, Japan, has been
unprecedented. Bad news coming … The stock market pattern in 2008-9
has so far been a mirror image of the crash of 1929-30 with a halving of prices
from the autumn followed by a 25 per cent rally from March lows. In April 1930
stocks moved sideways and then they crashed another 50 per cent into the
summer… New record continuing unemployment claims in excess of 6 million, -11%
for new home sales (unexpected but stocks and even homebuilders rallied),
Bloomberg reports $13 trillion (much unaccounted for) taxpayer/bailout funds
spent/lent/stolen by who knows what/where/how (ie.,replace stolen funds?,
etc.), second largest mall co. to bankruptcy with more to come along with more
commercial real estate foreclosures. ‘…initial claims for the week ending
April 11 totaled 610,000, which is down more than expected from the prior week,
but continuing claims climbed more than expected to a new record of 6.02
million. Separately, housing starts disappointed investors hoping to find signs
of a recovery in home building. Housing starts for March totaled 510,000, which
was below the 540,000 starts that were expected and down from the prior month.
Meanwhile, building permits in March totaled 513,000, which is below the
549,000 permits that were expected, down from February…’
SUCKER'S RALLY APPROACHING AN END byPeter Cooper: Whatever the technical reason for the 25 percent rise
in the S&P over the past five weeks, or a more modest eight percent bounce
in GCC regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second
largest economy, Japan, has been unprecedented. Bad news coming
… The stock market pattern in 2008-9 has so far been a mirror image of the
crash of 1929-30 with a halving of prices from the autumn followed by a 25 per
cent rally from March lows. In April 1930 stocks moved sideways and then they
crashed another 50 per cent into the summer. What possible reason is there for
optimism to believe that history will not repeat itself? Government stimulus
packages have more than likely been too small and too late to prevent another
down leg in stocks, and will take time to revive the real economy, if indeed
they can do so. They might just stop the worst possible scenario but are they
going to prevent the plunge downwards? Governments have not managed it so far. Consumers and unemployment
…It will take more than weasel words from US bankers and ‘green shoots’ in the
waffle of President Obama to put things right. Eventually global stock markets
will reach a bottom but they are not close to having visited it just yet. Wall
Street and its friends are playing investors as suckers but they are in danger
of overdoing it. For once these guys are impoverished where will the next bunch
of fools come from? Goldman Sachs' (GS) results this week might well mark the top of the
rally, beyond that the only way is down.
PREVIOUS (4-14-09), Suckers’ rally into the close to keep the suckers’ suckered on bad news and
bull s**t alone so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE
YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!Retail sales down –1.1%. ‘…The downward push came as financial
stocks fell out of favor and disappointing retail sales data led some to second
guess the prospects of retailers. Financial stocks weighed on the broader
market for the entire session and finished with a 7.7% loss. The sector's
weakness was widespread, but investment banks and brokerages (-10.7%) suffered
some of the steepest declines after Goldman Sachs (GS 115.92,
-14.23) announced a $5 billion common equity offering that was discounted from
the prior session's closing price. The offering will also prove dilutive to
existing shareholders…’Jim Rogers Says Investors Should
Expect More BottomsBULL S**T STORIES FOISTED AS B.S.
TALKING POINT FOR CONTINUING FRAUD/SPIKE IN STOCK PRICES FOR CHURN AND EARN
COMMISSIONING: WELLS FARGO RECEIVES $25 BILLION TAXPAYER MONEY/BAILOUT FUNDS AND
SHOWS (RECORD FOR THEM?) $3 BILLION QUARTERLY PROFIT- GOLDMAN RECEIVED $10
BILLION PLUS UNDISCLOSED FED/ ULTIMATELY TAXPAYER MONEY AND REPORTS
QUARTERLY$1.8 BILLION PROFIT- DO THE MATH (FIRST GRADE ELEMENTARY SCHOOL
KIDS COULD DO AS WELL, AND FOR FAR LESS PAY) - AT THAT RATE, TAXPAYERS WILL
SOON HAVE NOTHING LEFT FOR THEM TO TAX! WHAT FRAUDS! The Great Geithner CoverupWHAT TOTAL BULL S**T!U.S. Treasury asking
banks keep quiet on stress testsNew unemployment claims at high
654,000 praised as positive number…riiiiight!…as continuing unemployment claims
at record 5.84 million (real numbers even worse). Economy so bad that consumers
can’t buy goods so trade deficit shrank but this is a structural defect in u.s.
economy so not good news and consistent with bad news of still plunging retail
sector. Najarian points out that wall street always a circus, consolidation,
robbing peter to pay paul, take profits; while economist cite Reich that we’re
in depression and government as in land of fruits and nuts out of control. Earnings revised
downward for first quarter –36.5%, more weakness, more unemployment, inflation
to come on fast says Hogan, and insurance companies now que up at corporate
welfare/taxpayer bailout lines.In positing (suckers’) bear market
rally and advocating hold cash/sell stocks Hillary Kramer points to the
preposterous on wall street where bad news greated as good vis-ŕ-vis stocks
(they call what wall street does ‘fraud’…in a rational world where they would
already be in jail).Madman Cramer – the ultimate contrarian
indicator - CRAMER'S CALL: ANOTHER RALLY TOP INDICATOR Greg
FeirmanWow, the bulls are really
feeling good. “Wells Fargo Carries The Day” and the
S&P and Dow closed at 2 months high and the Nasdaq is near its highs for
the year. On Mad Money this evening, Cramer went so far
as to call “a turn in the economy”, saying “the facts have changed”, “the
situation has clearly improved” and “things are getting better”. This isn’t the
first time Cramer has called a bottom and he’s been wrong before (For example,
see “Cramer Declares The End Of The Bear Market”
, Top Gun FP, July 31, 2008). The market topped out a couple weeks later. On Monday
October 6, Cramer went on the today show and told people to sell
any stock money they might need in the next five years. The market bottomed
that Friday. It could run another couple weeks but this rally is running thin. Methinks
me smells a top…..Rational
View Courtesy of ETF.COM: ‘…Due to our expectations of continued
weakness in the financial sector, the looming deterioration of commercial real
estate, the credit markets tepid backing of the equity rally, and the still
very shaky and highly volatile global economy, it's our view at ETFdesk.com the
recent run-up in stocks is unwarranted and presents an overly optimistic view
of the months ahead. We believe investors should consider taking short term
profits or use the recent run to reduce equity exposure they are weary of. We
also believe investment grade debt (NYSEArca: LQD
- News) represents an opportunity for investors
seeking beaten down prices without the downside volatility of equities…’ The Great Geithner CoverupSecretary of Labor Reich:
Unemployment Numbers Show We’re Already In a DepressionFed sees
economy sliding furtherA Bear in Bull's
Clothing: Why This Rally Will Fall ShortGoldman Sachs
Q1: Pay Up, People DownDealbreaker
Afterdark: Fannie Mae CEO To Head Bailout NationUBS cuts 8,700 more jobsLet's Keep Big
Banks from Ruining America Forever (at Seeking Alpha)China's ICBC now
world's largest bank by deposits (at MarketWatch)UBS faces $1.8
billion loss, will cut almost 9,000 more jobsWorld Economy Falling Faster Than
in 1929-1930 The Geithner-Summers Plan is Even
Worse Than Thought Author who predicted crisis sees
hyperinflation ahead
Launching Lifeboats Before the Ship Sinks Paul Craig Roberts | If the US government is forced to print money to cover the high
costs of its wars and bailouts, things could fall apart very quickly.
US Federal Reserve announces massive increase in government
debt Barry
Grey | The essence of all of the measures
taken in response to the crisis is an effort to rescue the system and protect
the wealth and power of the financial elite at the expense of the broad masses
of the population.
Tax Time
Covert Ops Catherine
Austin Fitts | Hate. Divide and
conquer. It’s a business. The media is pushing it. The people directing it are
the same people who brought you the AIG bonuses.
PREVIOUS (3-23-09): So preposterous was
today’s Pavlov dogs rally [conditioning to associate what’s good for fraudulent
wall street, viz., privatizing profits – still not one prosecution for what now
is the largest fraud/scam/swindle in the history of this planet – and
socializing the losses, is somehow positive for america/the economy by the
magnitude of this suckers’ bear market rally and prior market manipulations]
when the same created the instant crisis in the first instance (don’t worry
about the frauds on wall street, they’ll get their commissions again on the way
down as they did in creating this financial debacle/fraud as they clamor for
more taxpayer/treasury money).They’re
still printing/creating those worthless Weimar dollars like mad, China Urges New Money Reserve to Replace Dollar ,don’t know what they’re doing, are clueless, and disingenuously seek to
divert attention from the missing/stolen/bilked $14 trillion of taxpayer money
with the subterfuge of outrage over the relatively miniscule though not
unimportant million dollar bonuses (AIG, etc.), so-called fixes/plans, etc., so
SELL/SELL
INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE
TO COME! What the Pros Say: US Is Now ‘Bankrupt’ US is Already Bankrupt: AnalystU.S. Budget Office offers darker economic and deficit
outlookThe Geithner-Summers-Bernanke Plan
to Prop Up Asset Prices Has Failed U.N. panel says world should ditch
dollar
Fierman: How
quickly things change…..
Some stats from today’s rally:
S&P: +54 (7.1%) to 823
Dow: +497 (+6.8%) to 7776
NYSE Up Volume: 1,866,836,012
NYSE Down Volume: 44,683,760
NYSE Total Volume: 1,914,836,622
It was just 2 weeks ago (March 9th) that the S&P closed at 12-year lows and
the stock market felt like it was forecasting the end of the world. We’ve now
rallied 22% in 2 weeks! But if we look at the catalysts for this rally, they
really don’t seem to justify such an explosive move. Citi said they were profitable in
the first two months of the year and JP Morgan (JPM)
and Bank of America (BAC)
said they were too. The Fed initiated some serious
quantitative easing. And now Geithner’s toxic asset plan this
morning. I agree with the Capital Spectator when he wrote this morning:
We’re skeptical
largely because the rally this month has drawn power primarily from a new round
of hope that Washington’s various experiments to right the economy will finally
hit pay dirt. Perhaps, but it’s not the stuff that powers sustainable rallies,
much less secular bull markets.
PREVIOUS (3-19-09), ‘…Economic news remains uninspiring. Weekly initial
claims dipped 12,000 to 646,000, which was better than the consensus estimate
of 655,000. Continuing claims hit another record high, though, jumping to 5.47
million from 5.29 million. Leading indicators for February showed a 0.4%
decline, which wasn't as bad as the 0.6% decline that was expected… Energy
stocks (+1.4%) and materials stocks (+1.4%) were helped by stronger commodity
prices. The CRB Commodity Index climbed more than 5% in this year's largest
single-session advance by percent. Crude oil futures prices gained 6.5% to
close pit trading at $51.25 per barrel, while gold prices advanced 7.8% to
close at $958.50 per ounce. Underpinning the strength in commodity prices was a
considerably weaker U.S. dollar. According to the Dollar Index, the greenback
sank 1.7% this session, and more than 4% during the last two sessions. The
dollar's weakness follows the Fed's latest policy directive…’
PREVIOUS (3-18-09), absolute desperation
by the fed as fed in panic mode buys bonds with even more fake money
(ultimately you pay). Shot in the dark, they unequivocally do not know what
they’re doing; don’t have even the slightest clue. Some well deserved guilt as
greenspan, bernanke, paulson, geithner, etc., are authors of this debacle with
compliant politics as usual facilitating same (wall street/hedge fund gamblers
shouldn’t be bailed out, etc.), but the divergence of so-called opinion from
stagflation to applauding same in light of fraudulent stock market up-tick
(isn’t that how we got here, to this financial/economic disaster).
PREVIOUS (3-17-09), all private forecasts of the very forecastable housing
starts defied the false report of the corrupt, scandal-scarred commerce
department (remember the fake reports that spurred recent ralleys which
ultimately burned the buyers) spurred suckers’ bear market ralley so great
opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE
YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS (3-12-09), the waning full moon
still compounding the frivolity of the criminally insane; particularly the
lunatic frauds on wall street, and truth be told, the lunatics who follow in
lock-step behind them. Suckers’ bear market rally(Citigroup Inspired Bear Market Suckers’ Rally ) to keep the suckers suckered and commission dollars flowing to the frauds
on wall street so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE
YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!There are no bulls or bears on fraudulent
wall street, just ostriches. One senile land of fruits and nuts analyst/ broker
/ master planner of the lost angeles failed paradigm quips with glee: it’s
impressive to see the market ignore so much bad news and rally…riiiiight!Ron Paul, A Rare Voice of Reason on
Capital Hill: Culprits Of Financial Collapse Should Be Arrested, Prosecuted,
and Disgorgement Of Fraudulent Gains Would Inure to the Benefit of the
Technically/Defacto Insolvent/Bankrupt u.s. Treasury in the Multi-Trillions as
Recovered (Their greed and fraud has further bankrupted this country and damaged
other nations and recoupment of their fraudulent gains must be required as the
law already provides since taxpayers are bearing the brunt of government
inaction. What they did is not ok. They must pay. This is not difficult to
grasp and must be done or there is no hope prospectively for america since all
will know of this government fostered/complicit fraud). ‘…Better-than-expected
(but typically fake as per scandal scarred commerce department) retail sales
data suggested consumers haven't completely rolled over. February retail sales
declined just 0.1%, which is better than the 0.5% decline that was expected.
Excluding autos, retail sales increased 0.7%. A decline of 0.1% was expected.
Meanwhile, January total sales and sales less autos were revised to show an
even larger increase. The upbeat retail sales data comes in the face of ongoing
consumer headwinds, such as mounting job losses. Weekly initial claims climbed
9,000 to 654,000, which was worse than expected. Continuing claims jumped
nearly 200,000 to 5.32 million, which was also worse than expected (new
record). In other economic news, February business inventories declined 1.1%,
which is essentially in-line with the consensus estimate...’ ’…This week's rally got an extra
dose of adrenaline after an accounting board told Congress Thursday it may
recommend (more fraud as we’re currently experiencing by way of ) a let-up in
financial reporting rules for troubled banks in three weeks… Fed reports record
fall in household net worth WASHINGTON (AP) -- The net worth of American
households fell by the largest amount in more than a half-century of record
keeping during the fourth quarter of last year…The Federal Reserve said
Thursday that household net worth dropped by a record 9 percent from the level
in the third quarter. The decline was the sixth straight quarterly drop in net
worth and underscored the battering that U.S. families are undergoing in the
midst of a steep recession with unemployment surging and the value of their
homes and investments plunging. Net worth represents total assets such as homes
and checking accounts minus liabilities like mortgages and credit card debt.
Jobless claims rise as retail sales slip WASHINGTON (AP) -- With layoffs
spreading, the number of initial claims for jobless benefits rose last week,
while the total number of people continuing to receive benefits set a record
high, the government said Thursday. The Labor Department reported that
first-time requests for unemployment insurance rose to 654,000 from the
previous week's upwardly revised figure of 645,000, above analysts'
expectations. The number of people receiving benefits for more than a week
increased by 193,000 to 5.3 million, the most on records dating back to 1967.
That's the sixth time in the past seven weeks that the jobless claims rolls
have set a record high…’
PREVIOUS (3-11-09), Analyst chatter:
Not through the worst of it, the worst (of depression) still ahead, investing
in this market is like trying to catch a falling knife. Foreclosures up and
spreading as unemployment also rises and will continue to rise. Freddy lost
another $50 billion and wants another $31 billion, while Fanny lost another $60
billion and wants another $15 billion. Hillary Kramer says trading only,
in-and-out, so if you can’t, don’t jump into market to try and catch the
falling knife. Dividend cuts for 2009 have already surpassed that for all of
2008 at $46.8 billion.
PREVIOUS (3-10-09), yes, indeed, a rally with power of a speeding locomotive based on….. b.s.
talk point with early release ofCITI
showing a profit [not counting more writedowns, bad/worthless
assets(loans)/securities, expenses, etc.] of $8 billion with receipt of $45
billion (plus loans/guarantees/investments in excess of $100 billion) taxpayer
bailout … WOW!…at this rate the treasury will deplete even faster than
originally projected. But the math is so simple that elementary school kids
with a handle on third grade arithmetic can accomplish the same and hence, can
and should replace top management at a much lower price and without delay.‘…bernanke
says regulatory overhaul needed…WASHINGTON (AP) -- The nation's financial rule
book must be rewritten to prevent a repeat of the global economic crisis now
gripping the United States and other countries, Federal Reserve Chairman Ben
Bernanke said Tuesday…Bernanke offered new details on how to bolster mutual
funds and a program that insures bank deposits. He also stressed the need for regulators
to make sure financial companies have a sufficient capital cushion against
potential losses…The Fed chief's remarks come as the Obama administration and
Congress are crafting their overhaul strategies. For the administration,
critical work will be carried out among global finance officials this weekend
in London ahead of next month's meeting of leaders from the world's 20 major
economic powers…Madoff's lawyer says client will plead guilty …NEW YORK (AP) --
In a courtroom surprise, it was revealed Tuesday that Bernard Madoff will plead
guilty Thursday to securities fraud, perjury and other crimes, knowing that he
could face up to 150 years in prison for one of the largest frauds in history…’‘…All three major
indices registered fresh multiyear closing lows in the prior session, but came
rallying back this session to log their best single-session performance by
percent in months. The rebound came after Citigroup issued an encouraging
update and reports indicated the uptick rule may be reinstated… Rep. Frank
stated mark-to-market accounting rules must be improved, but Senator Shelby
says any mark-to-market accounting changes should be made by the SEC. The SEC
stated it will not seek to suspend such rules (since such would make valuations
a fraud)... The stock market's advance was further helped by short-covering.
Still, trading volume on the NYSE climbed above 2 billion shares…’
PREVIOUS (3-6-09), fudged in a manner
most favorable to the frauds (we past these unemployment percentages quite some
time ago and they were much worse then and still worse now, etc.), the news
remains bleak and reality says even bleaker.Any economist who in discussing this
depression mindlessly compares this Greatest Depression to any other
contraction without pointing out crucial negative distinguishing
characteristics; viz., insurmountable debt, increasingly worthless (Weimar)
currency, irrevocable and unrelenting trade/budget deficits, global antipathy
(stemming from illegal wars, war crimes, massive securities fraud, etc.), lack
of significant manufacturing base, pervasive corruption/theft
/plundering/incompetence, etc., cannot be considered a serious economist (just
a joker who probably missed the call on recession/depression, etc.). …’Huge layoffs push joblessness
toward double digits WASHINGTON (AP) -- Tolling grimly higher, the recession
snatched more than 650,000 Americans' jobs for a record third straight month in
February as unemployment climbed to a quarter-century peak of 8.1 percent and
surged toward even more wrenching double digits.The human carnage from the
recession, well into its second year, now stands at 4.4 million lost jobs. Some
12.5 million people are searching for work -- more than the population of the
entire state of Pennsylvania. No one seems immune: The jobless rate for college
graduates has hit its highest point on record, just like the rate for people
lacking high school diplomas… GM shares reach 75-year low amid bankruptcy talk…’ The broader market turned in a modest gain, thanks to a late rally
effort that overcame steep losses. Initial gains were broad-based as
participants began buying in the wake of the February jobs report, which
indicated nonfarm payrolls fell 651,000, in-line with expectations, and
unemployment climbed more than expected to a 25-year high of 8.1%. Stocks were
up as much as 2.4% in what resembled past trends that saw stocks sell off
leading up to the monthly jobs report, but then rally in its wake as traders
"bought the bad news."
PREVIOUS (3-5-09), Analyst/Economist Chatter: funny money (they’re printing worthless
Weimar dollars like mad) and now they’re thinking funny assets (suspending
reality based mark-to-market in favor of the failed fraudulent whatever they
want so they can foist/spin/defraud which got us to this debacle); more bank
takeovers; GM burning cash, bankruptcy probable; Merrill bonuses for jobs
poorly done (my direct experience with Merril Lynch brokers was their total
incompetence); higher taxes, higher inflation, $3 trillion new u.s. debt,
dollar devaluation; more bank takeovers and far worse unemployment.“Few economists
expect a turnaround in the battered labor market anytime soon with companies
laying off thousands of workers weekly…Still, initial requests for unemployment
benefits fell to 639,000 from the previous week's figure of 670,000, the Labor
Department (fake number) said Thursday. Analysts expected a smaller drop to
650,000…Retailers report sales declines in February…GM concedes in the report
filed Thursday that it's on the edge of bankruptcy and won't be able to avoid
it unless it gets more government money and successfully executes a huge
restructuring plan…Mortgage woes break records again in 4Q. NEW YORK (AP) -- A
stunning 48 percent of the nation's homeowners who have a subprime,
adjustable-rate mortgage are behind on their payments or in foreclosure, and
the rate for homeowners with all mortgage types hit a new record, new data
Thursday showed…” “The stock market logged new multiyear lows during the
session, and closed at its worst level since the fourth quarter of 1996.
Roughly 95% of the companies in the S&P 500 finished with a loss...Though
losses were broad-based, financials were dealt the worst blow. The sector fell
9.9% with particular weakness among diversified banks (-16.5%) and other
diversified financial services companies (-13.2%). Moody's announced it is reviewing
the credit ratings of Bank of America (BAC 3.17, -0.42)
and Wells Fargo (WFC 8.12, -1.54)
for possible downgrade. Moody's lowered its outlook for JPMorgan
Chase (JPM 16.60, -2.70) to negative from stable. Sellers pushed both WFC and
JPM shares to new multiyear lows…Fourth quarter nonfarm productivity declined
0.4%, though it was expected to increase 1.2% after the prior reading showed a
3.2% increase. The lower reading was a result of lower economic output in the
fourth quarter. Meanwhile, fourth quarter unit labor costs increased 5.7%.
Economists expected a 3.8% increase. Factory orders for January fell 1.9% (fake
number), which is a less severe drop than the 3.5% decline that was widely
expected. The drop in factory orders reflects the retrenchment by businesses in
the wake of softer spending…” Now As The Much Greater Depression Progresses Dow and S&P hit
12-year lowsBernanke Arrogantly Refuses To
Disclose Which Banks Took Money Treasury secretary's choice for deputy
withdraws (only little people pay taxes so take this job and shove it says tiny
tim deputy designate) (AP)22 Georgia legislators fail to pay income taxes...GM auditors raise doubt on viabilityOne in 8 U.S. homeowners late paying or
in foreclosureCitigroup stock falls below $1 a share
(AP)$$] SVG Swings to a Loss on Markdowns
Hits (at The Wall Street Journal Online)Why the Fed's TALF Is Bad for AmericaMortgage woes break records again in 4Q
(AP)Stocks
Fall Below 7,000 Again Fed Refuses to Release Bank Data,
Insists on Secrecy
PREVIOUS (3-4-09),
all news decisively worse than expected, fed beige book outlook grim, economist
outlook for recovery bleak. Celente: U.S. Has Entered “The
Greatest Depression” The spin: china bailout (the frauds on wall
street spinning/foolishly banking on china buying more worthless u.s. paper –
their domestic needs are substantial and they’re increasing military spending
by 15% as well) and high oil price suckers’ bear market/short-covering rally to
again keep suckers sucked in for their commissions sake. The great red hope!
How preposterous! Who would have thunk it!‘…strong gains overseas provided an excuse for
buyers to enter the fold and short-sellers to cover their positions. Foreign indices
upended their own losing streak after China announced it will add approximately
$586 billion to the fiscal spending plan it announced late last year… According
to the Fed's Beige Book, the Fed does not expect a significant economic
recovery until late 2009 or early 2010 at best (remember, they also said no
recession and now we’re in a depression). Meanwhile, the ISM Services Index for
February dipped to 41.6% from 42.9%, indicating continued contraction for the
services sector. The consensus estimate was pegged at 41.0%. Investors and
economists got a glimpse of what may be lurking in the government's February
nonfarm payroll report, which is due at the end of the week. According to the
latest ADP Employment Report, 697,000 jobs were lost in February. The consensus
estimate called for 630,000 job losses…’ ‘…fed
survey: economy deteriorated in Jan., Feb. . After a dismal start to 2009,
business people see more pain ahead, expecting no improvement in economic
conditions till late this year at the earliest. Their pessimism was evident in
the Federal Reserve's latest snapshot of business activity nationwide. It
showed sharp cutbacks affecting both blue-collar jobs that once churned out
construction equipment and white-collar professionals like business consultants
and accountants. From factories in Cleveland to high-tech firms in Texas and
California, the Fed's beige book reported widespread production declines.
Services sector shrank in Feb., 5th straight month…’U.S. private sector cuts 697,000 jobs
in FebruaryFDIC’s Bair Says Insurance Fund Could Be Insolvent This Year The Never-Ending BailoutThey Done Us Wrong: Spending Our Way
Into Greater DepressionCredit
concerns pound GE shares in volatile tradeChina hopes,
oil's jump, both negatives, end Wall St 5-day routWarren Buffett's
'Fundamental Weakness' ETFs Suffer
Outflows In FebruaryCelente: U.S. Has Entered “The
Greatest Depression”The D-word: The depression has become something worse
(AP)Obama Must Fire Geithner and
SummersGold Industry Officials Warn Of
DepressionJim Rogers: Bailouts are
destroying the US EconomyPaulson Was Behind Bailout Martial Law ThreatFed Hides Destination Of $2 Trillion In Bailout MoneyPREVIOUS (3-3-09), modest losses relative to reality as bad and worse
than expected news just keeps on coming along with suckers bear
market/short-covering rallies as here into the close to keep the suckers
suckered. Defaults/delinquencies up, home/car sales down… Celente: U.S. Has Entered “The
Greatest Depression” … Helicopter ben ‘bernanke indicated
the near-term outlook for the economy remains weak. Economists at Goldman Sachs
concur; they expect the U.S. economy will fall 7.0% in the first quarter,
according to Dow Jones.Despite housing
stimulus provisions, pending home sales in January declined 7.7%. The consensus
estimate called for a 3.5% decline. The data reflect the effects of ongoing job
losses, lost wealth, and weak consumer confidence.Similar forces continue weighing heavily on auto sales. Ford
Motor (F 1.81, -0.07) reported February sales in North America fell roughly
48%, which is steeper than the 42% drop that was expected. General
Motors (GM 1.99, -0.02) reported February sales sank nearly 53%, exceeding the
45% fall that was widely forecast. Separate reports indicated GM's chief
operating officer said that without government funds the company's European
unit would run out of cash in the second quarter. Chrysler down 44%’… ART HOGAN SAY’S ”IT’S A
TOUGH ONE”… THAT’S A TRUE STATEMENT!
Previous (2-20-09), stocks tumbled around the world, sending the
Standard & Poor’s 500 Index to its biggest weekly drop since November, on
concern the deepening recession will force banks to seek more government aid.
Europe’s Dow Jones Stoxx 600 Index slid to a six-year low, and Japan’s Topix
Index declined to the worst level since 1984.Analysts saying impossible to predict bottom in this dismal scenario,
nationalization concerns, not bottomed yet, new bear market lows. Art Hogan
says greater than 50% is defacto nationalization anyway and nothing left for
shareholders, pricing mechanism for toxic assets problematic along with
negative capitalization ratios, new lows in offing, gold for capital
preservation along with treasuries and money markets. Nader says depression.
There’s no end/bottom in sight. One says 2011-2014
earliest for bottoming at best and that nationalization means politization. One analyst
previously pointed out there has been not one prosecution thus far and the
frauds on wall street should be prosecuted and forced disgorgement.Analyst Frank Cochrane looks ahead to 4,000 to 6,000 on the
DOW, 700 to 900 on the NASDAQ, and 425 to 625 on the S&P, and says
spending/stimulus programs will not work, a point on which he is correct and
the low end of his ranges closer to reality.Not Just a Few Bad Apples - Corruption is Systemic in America In case you believe that there
are only “a couple of bad apples” in the United States, here is an
off-the-top-of-his-head (I could give many, many more including my RICO
case) list of corruption
by leading pillars of american society.
SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH,
MUCH WORSE TO COME!Major indexes
fall more than 6 percent for weekThe Great Depression has Arrived-
Collapsing American Dreams Defacto if not
dejure nationalization realities hit Citi, BofASoros sees no
bottom for world financial "collapse"Trustee: Some
Madoff stock trades were fictionMorgan
Stanley offers $3 billion broker bonuses, Wells none (Reuters)Gold Hits
$1,000 Ron Paul: Stimulus “Waste of Money” The Inconveninent DebtGold Tops $1,000, First Time Since
March as Depression Deepens Stocks Drop Around the World; Stoxx 600 Falls to 6-Year Low Fed
Hides Destination Of $2 Trillion In Bailout Money“…The United
States was in much better shape, economically, going into the Great Depression
than it is now. Prosperity is not coming back to the
U.S. as we know it. We are in a lot
of trouble…”More Economists Say Crisis Is Worse Than Great Depression Previous (2-18-09), all news much worse than
expected as new home starts plunge 17% (-56% year over year), fed/bernanke
downgrades economic forecast (rallied stocks when he made same which was bull
s**t then as pointed out here) predicting reality of contraction which he says
will be protracted, prolonged and increased unemployment (9%) though reality is
much worse than they’re once again (falsely) predicting (we’re already
significantly past 9% unemployment) and as one economist points out, in an
economic freefall. bernanke’s outlook realistically dismal which sentiment is
shared by analysts/economists who envision no bottoming until well into 2010 at
best because…..this is a DEPRESSION!Previous (2-19-09), ‘Initial jobless
claims totaled 627,000, topping the 620,000 claims that were expected. Initial
claims were unchanged week-over-week, while the four-week moving average moved
up to 619,000 from 608,500. Continuing claims reached record highs of 4.99
million. Economists forecast 4.81 million continuing claims. The four-week
moving average for continuing claims stands at 4.84 million, up from 4.75
million. Jobless claims were a drag on the January index of leading economic
indicators, which increased 0.4%, exceeding the consensus forecast of a 0.1%
increase. An increase in the money supply proved to be the main driver lifting
the index, but the increased money supply contributes to inflationary concerns.
Producer prices, which measure inflation, increased more than expected in
January. The January PPI and core PPI were up 0.8% and 0.4%, respectively.’
Philly fed manufacturing index at 18 year low. The
easiest to forecast leading economic indicator was fudged to the upside, though
still marginal,with said fake number
substantially exceeding all private forecasts (stock prices, auto, housing,
employment, etc., all down sharply in subject month…..hence, I don’t think so
and fake report). Analysts saying
stimulus plan not stimulative, specter of bank nationalization (banks
insolvent), loss of pricing power across most all industries, and then the
plethora of very bad economic/financial data with breakthrough technical
bottoms, looking for violent sell-off/capitulation to provide
minimal/short-lived bear market rallies, with some ephemeral opportunities
among defensive stock plays, ie., whole foods (pricing power), auto parts
(refurbishing old cars).One analyst
previously pointed out there has been not one prosecution thus far and the
frauds on wall street should be prosecuted and forced disgorgement. Analyst Frank Cochrane looks ahead to 4,000 to 6,000 on the
DOW, 700 to 900 on the NASDAQ, and 425 to 625 on the S&P, and says
spending/stimulus programs will not work, a point on which he is correct and the
low end of his ranges closer to reality.Not Just a Few Bad Apples - Corruption is Systemic in America In case you believe that there
are only “a couple of bad apples” in the United States, here is an
off-the-top-of-his-head (I could give many, many more including my RICO
case) list of corruption
by leading pillars of american society.
SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH,
MUCH WORSE TO COME!Jobless Claims Hit Record High; Inflation Jumps Dow falls to 6-year low as banks slideWholesale
inflation takes biggest jump in 6 monthsDow Closes at New Bear-Market LowDow Theorists spot a bearRising debt will
overwhelm Obama’s effort to rescue the economyBank debt trades at distressed levels (at
FT.com)5 million Americans drawing jobless benefitsAP IMPACT: Jobless hit with bank fees on benefits
(AP)FBI tracks down Texas financier in fraud case (AP)FBI finds Allen Stanford in VirginiaStanford curried influence in DC: watchdog
groupPC makers' shares fall on worsening demandBofA and Citi shares fall on defacto or dejure
nationalization nearGE shares dip to lowest since 1995Feb. could be worst month yet for jobless
claimsFitch downgrades Marriott on lodging softness
(AP)Fed downgrades
economic forecast for this year “…The United States was in much better shape,
economically, going into the Great Depression than it is now. Prosperity is not coming back to the U.S. as we know it. We
are in a lot of trouble…”More Economists Say Crisis Is Worse Than Great Depression Previous (2-18-09), all news much worse than
expected as new home starts plunge 17% (-56% year over year), fed/bernanke
downgrades economic forecast (rallied stocks when he made same which was bull
s**t then as pointed out here) predicting reality of contraction which he says
will be protracted, prolonged and increased unemployment (9%) though reality is
much worse than they’re once again (falsely) predicting (we’re already
significantly past 9% unemployment) and as one economist points out, in an
economic freefall. bernanke’s outlook realistically dismal which sentiment is
shared by analysts/economists who envision no bottoming until well into 2010 at
best because…..this is a DEPRESSION!
THE DOW JUMPS 900 POINTS. SO
WHAT? BY MORGAN HOUSE
October 28,
2008Only in today's market can the Dow
have one of its biggest gains ever, on a day when consumer confidence logged
its worst readings since it's been followed. After the Dow's nearly 900-point
rally today, on what seemed like nothing but loads of bad news, you're right to
stand back and wonder what in the world to make of this absurd volatility --
and more importantly, how to invest around it.The short, easy, and honest
answer is that this volatility is spectacularly unreasonable, and you're foolhardy
to try such an approach. Think about it: Only a few weeks ago, the Dow soared
an equally impressive amount -- 936 points -- sending a wave of euphoria over
markets, as if our troubles were behind us. Within days ... poof! The gains
were gone. There's little reason to jump for joy over today's gain, either.
Call me a party pooper, but the bad news in
the economy hasn't disappeared, my friends…
Searching
for Mr. Goodlow [ While you
certainly want to buy low (and sell high), in light of the crushing debt,
deficits both budgetary/trade, global antipathy because of war
crimes/profiteering, transfer of manufacturing base, and greedy frauds on wall
street, corruption at all levels, etc., this time is like no other for america
in the most negative sense, particularly since the average multiples for
S&P for the past 5 years were based upon a huge fraud bubble and hardly a
benchmark/guideline. The saying/axiom of J.P.Morgan remains apposite as ’ it is
not so much the return on the money as it is the return of the money’. ]
Building starts/permits and new home sales
down 8.3% and 6.3% to worst levels in 17 years, drop in consumer sentiment
highest ever recorded so great opportunity to sell/take profits while you still
can since smart money (and reality) say trend is much lower Billion-Dollar Fund Manager, Dow To Sink To 5,000 ,Roubini: Dow 7,000 Likely 'Sometime Next Year' , Dow Jones Bloodbath Mirroring 1929 Rout Bottom should be
around 27 per cent below “bailout bounce” according to analyst , since none of
the real problems including many trillions of worthless paper, deficits
budget/trade, hyperinflationary/worthless Weimar dollars being printed like
mad, have even been addressed much less solved (election-year expedience) so
sell into rallies/strength/take profits while you can as much worse to come,
(they’re so desperate for b.s./fraudulent talking points/sizzle to sell that
the rumor (Microsoft to buy/destroy Yahoo) sparks rally though denied by both
companies, spin lower prices as positive when reality is that economic
conditions/prospects so bad that demand has precipitously fallen, Philly fed
Index down sharply indicating contraction, Real Estate/Builders’ Index
lowest/Worst reading since inception, lunatic
wall street frauds desperation linked to their substantial crimes and booty
which must be disgorged through prosecution, volatility index at new
record, previous session reality trumps the new fraud as markets can’t hide
from the plethora of bad economic news albeit sugar-coated for election year
purposes as retail sales down 1.2% for month and as well, year-over-year and in
all regions, beige book says economic activity down in all regionsBillion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink
To 5,000 sell into
rallies/strength/take profits while you can as much worse to come and remember,
fool you once, shame on the wall street frauds who should be in prison,
fool you twice, shame on you and you’re screwed, one expert
described the bailout as money down a black holeTotal Bailout Cost Heads Towards $5 TRILLION , shreve of investors’ (shouldn’t that be
traders’) business daily said became negative on market in August and all cash
in September [but previously, 6-3-08, SHREVE OF INVESTORS BUSINESS DAILY
NOW NEGATIVE ON MARKET (YA THINK), WAS BULLISH JUST RECENTLY ENOUGH FOR BULL
TRAP (OR JUST PLAIN BULL CRAP) AND CITES HEDGE FUND SPECULATORS, SUPPLY/DAMAND
FACTORS (OIL RISE, ETC), LEADERSHIP TURNED NEGATIVE WHICH FED MINUTES
CONFIRMED, implying that somewhere in between he was positive ] but to his
credit states we’re in a recession…some quarters of negative growth/contraction
ahead…takes considerable time for fed steps/missteps to take effect…and 7-8%
unemployment, while fed governor janet yellen says we’re in a recession…daaah!,
while another cites consensus that the financial crisis won’t be over anytime
soonUS confronts reality of long, deep
recession/depression, The global
economy is going through a "profound shift" as it deals with the
unwinding of debt leverage, which Todd Harrison, CEO of Minyanville.com
calls "the mother of all bubbles."
As with the tech bubble before them, bubbles in housing, commodities and hedge
funds were all made bigger because of the unfettered use of leverage. The
unwinding process is going to result in a "prolonged period of
socioeconomic malaise," he says, predicting unemployment will rise will
into double-digits before the cycle turns. The
most recent batch of economic data certain support a grim outlook:
previous session saw modest losses
relative to reality with near 300 point upswing into the close on bad news (to
keep the suckers in … were you a sucker?…the frauds on wall street are counting
on it as today’s session proves) including record budget deficit at $454
billion and much worse next year, they’re treating symptoms not the problems so
good money after bad, substantial unwinding of derivatives and market
manipulation by programmed stock purchases, u.s. gov’t selling treasuries to
finance debacle pushing interest rates higher so sell/take profits,The Wall Street Coup and the Bailout Scam Bailout $700 billion yet national debt increased by over $1 trillion,They socialize their losses and privatize their gains ….. How is this happening?Paulson Doles Out $125 Billion to Wall Street Elite What a total
fraud/scam!A
Trillion Dollar Bait and Switch: The Bailout and the Smell Test This
is a secular bear market – check out the cycles.Roubini
Sees Worst Recession in 40 Years, Rally’s End , previously Motek’s expert Art Hogan says
crisis not over, daaaaah!, buuuttt and for the first time sounds like a typical
wall street shill and loses all credibility thereby, while another non-Motek
expert says will retest lows which is euphemistically correct while pointing to
comparable spike/decline in 1929 et seq. Great Depression scenario , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink
To 5,000 , b.s. talking
points and all based upon other nations, Europe and Asia like lemmings again
following america into the abyss (Iraq, etc.) since none of the real problems
including many trillions of worthless paper, deficits budget/trade,
hyperinflationary/worthless Weimar dollars being printed like mad, have even
been addressed much less solved (election-year expedience) so sell into
rallies/strength/take profits while you can as much worse to come and remember,
fool you once, shame on the wall street frauds who should be in prison,
fool you twice, shame on you and you’re screwed, as this and
previous session’s programmed buy trades to keep the suckers sucked in and
commission dollars flowing (the shameless wall street frauds made hundreds of
millions last week and today on high then moderate volume as government/banks
closed for holiday), thousand point swings to the upside- I don’t think so, as
yet again those needful things on wall street get even MORE, MORE, MORE, MORE,
MORE for the poor (not really, in light of the mega billions in fraudulently derived
commissions, bonuses, compensation, which should and must be disgorged through
prosecution) frauds on wall street, retail down, unemployment at recession
levels, modest losses relative to reality so sell into strength/take profits,
get your money out while you can and don’t forget that the worthless
hyperinflationary Weimar dollars they’re printing like mad will, like the
current fraud unraveling, come home to roost[Rogers:
Global Bankers Have Unleashed Hyperinflationary Holocaust ] making, assuming arguendo there are,any wild-eyed purported gains to come
illusory/non-existent at best and further, national (and consumer) debt and
lack of industrial/manufacturing base/trade deficits make previous recovery
comparisons preposterous, Motek’s expert says on-going bear market since 2000
(market down 75% as measured in gold) with continued massive liquidations to
pay off debt and that attempts to reflate with bailouts will fail culminating
in hyperinflationary depression, while another expert says stocks could slug
around at bottom for extended period, while Financial Times Editor says most
volatile day ever, not at tradable bottom, and this was a market crash at –40%
from top. GM shares on credit watch with negative implications
by S&P tumble 31 percent to 58-year low , Roubini: Rate Cuts Temporarily and Minimally Reduce
Crash Risk, But Dow 7,000 Likely 'Sometime Next Year' , dollar down, oil
up, Motek’s expert Bogel of Vanguard fame points to speculative measure for
wall street in 1929 as 280 which is even below and not as bad as the current
measure of 320 in year 2008 indicative of the ridiculousness of the wall street
debacle, It's Not You, It's the Market - Now Officially the
Worst S&P Decline in History ,on top of previous sessions needful things
on wall street saying MORE, taxpayer money to bail them out for their
consummate fraud, etc., MORE now EU/Asian/fed/taxpayers’
cooperation/contribution for their past, present and future frauds, etc., to
keep their ponzi-like scheme of worthless paper moving; how about prosecution,
prison, fines,and disgorgement for
these mega billion dollar frauds, as 500 point swing to the upside into the
close (get your money out while you can-sell into strength/rallies/take
profits) on yet another b.s. talking point (I don’t think so and neither does Cramer says Get Out Of The Market ) as Motek’s expert apparently shell-shocked talks in terms of washout
levels while another says bailout will take about 4 weeks to implement and not
sure if same will work [WON’T! There are trillions (some say in the
hundreds of trillions) of the fraudulent worthless paper out there] and points to
negative economic fundamentals and says reduce exposure to equities in favor of
ie., money market treasuries, previous day buy on rumor, sell on news (of fraud
bailout) obtains, fundamentals horrendous as economy loses more than expected
159,000 jobs, Motek’s economist/expert/trader says serious economic issues
remain and cites ’73 to ’74 when market fell 45% top to bottom while securities
expert says now focus is on fundamentals and not a pretty picture and cautions
about dilution, get your money out while you can-sell into
strength/rallies/take profits-that’s what they did , previously hopes for
fraudulent $4
trillion plus is missing through U.S. federal agency accounts managed by the NY
Fedmisguided Not One Dime! wall street fraud/criminal bailout “Grand Larceny” on a Monumental Scale: Does the Bailout Bill
Mark the End of America as We Know It? can’t change
reality as unemployment numbers highest in 7 years, factory orders decline to
lowest level in 2 years, food prices with largest increase since 1990, previous 200 point swing to the upside on top of 485 pointprevious day gain with all seriously
negative news including sales drops of 16% at GM and 35% at Ford so sell into
these rallies/strength/take profits whil you can, economist Brusca points to grim economic/financial data and outlook
even with bailout, Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink
To 5,000 , U.S. Sept. ISM manufacturing index plunges to 43.5% (worst
since 1955), Bailout Would Only Prolong Crisis: Jim Rogers ,except for scandal-scarred corrupt commerce
department which reported unexpected rise in consumer sentiment
(riiiiight…things are so hunky-dory), all news decidedly negative with home
prices falling an unexpected record16.3 %, etc. Bailout marks Karl
Marx’s comeback This is not brain surgery and the fraud,
bonuses/compensation (mortgages, subprime and otherwise, are only a relatively
small portion of the fraud/scam providing “cover/collateral” for the worthless
but heavily commissioned paper over and over again in a multiplicity of
different forms of worthless paper) in the mega-billions should first be
disgorged before taxpayers are forced to pony up and pay the frauds again for
their fraud which caused the problem in the first instance, must be prosecuted.
It should also be noted that despite the rhetoric, the wall street bailout
will NOT solve the crisis or eliminate the economic pain except to make
permanent the fraudulent wealth transfer to the most well healed
heals/frauds/criminals in the nation who caused the so-called crisis by their
greed/corruption/fraud.All news
decisively negative as WaMu becomes biggest bank to fail in US history (AP),
GDP revised downward to 2.8% in second quarter (the market previously rallied
on the false news and rallies again on the true bad news), only 30% at most
support the taxpayer bailout of the wall street frauds so count on tax revolts
as predicted by experts if the same passes, Sell
into any rallies/take profits as all problems remain and will be exacerbated by
the fact that the vast majority of taxpayers rationally and correctly opposed
the bailout of the wall street criminals who benefited from the fraud. Reaction
has been fast and furious 9-28-08[2:38 am]; take a look at some initial
comments.Sell into any strength/take profits because
with bank failures and raids on taxpayer funds and reckless printing like mad
of worthless Weimar dollars and fake data/reports and lies this is worse than
recession/bear market,New Home Sales Plunged 11.5% to 17-Year Low and home
inventories up, jobless claims up and durable goods orders down far more than
expected, home prices drop by record 9.5%, existing home sales down 2.2% as
they continue to foist the wall street criminal/fraud bailout on taxpayers
which Bloomberg
now pegs at a cost of $5 trillion while other economists/experts say
hundreds of trillions [which means $700 billion down the tubes into the pockets
of the wall street criminals (make them pay) who created the mess through their
greed/fraud/scams and who’ve already reaped huge financial sums in the many
billions through compensation/bonuses (mortgages, subprime and otherwise, are
only a relatively small portion of the fraud/scam providing “cover/collateral”
for the worthless but heavily commissioned paper over and over again in a
multiplicity of different forms of worthless paper]; Motek’s financial expert,
Financial Times Business Editor cites thoroughly gloomy economic picture
globally and u.s. particularly, record levels of borrowing from fed, even with
passage of bailout dire economic/financial scenario will remain, and axiomatic
‘buy on the rumor, sell on the news’ picture for stocks while his
expert/economist/investor/entertainer (Ben Stein) says outrageous to bail out
wall street criminals who should be in prison [and who should pay back/disgorge
the hundreds of billions they’ve been scamming by repackaging/recollateralizing
commissioning and reselling of which fraud/bubble I’ve been warning for over 5
years on this site-indeed they even have been exempted by congress for RICO
liability and meaningfully lawless application of other laws as I reiterate in
my RICO Summary under penalty of perjury to the
FBI at their request including RICO violations by Sam Alito, former u.s.
attorney (District of new jersey) who parlayed obstruction of justice (I’ve
sworn to this regarding drug-money laundering) into judicial appointments to
the 3rd circuit court of appeals with maryanne trump (Barry) and now the
so-called supreme court (he should have gone to jail) justice; how could anyone
even listen to bush (WMD’s in Iraq-I also warned against that debacle/fraud/war
crimes/profiteering) ] and he further says let the ceo’s go and some of the
failed institutions fail condemning the outrageousness of the lack of oversight
in this huge fraud/wealth transfer; and hanky panky paulson the wall street
shill whose $50 million in blind trust and $20 million in vanguard benefits
from this bailout by the taxpayers, The Fed is Making a Killing on Banking Crisis , sogreat opportunity to sell/take profits while
you still can. One democrat said that with
3 months remaining in war criminal (remember the lies) bush’s lamentable failed
presidency the grab based on fear that bailout of the criminals who caused the
problem and made huge sums from their heavily commissioned fraud will avoid
what already is can only be deemed another fraudulent wealth transfer akin to
the war crimes in Iraq, which budget-busting conflict is also part of america’s
problem, is preposterous on it’s face.A
republican said that the so-called over-sight provision utilizes a standard of
judicial review that would render impossible any purported review/abrogation
(and after the fact at that) of paulson’s largesse to his bro’s on wall street
and bush buddies.Mike
Stathis The Market Oracle September 22, 2008… As far as I’m concerned, anyone
who doesn’t conduct a full investigation of this charade leading to several
CEOs and other executives in prison with all of their assets being shuttled
into America’s bailout fund doesn’t have what it takes to lead America anywhere
except on its current course – downward. But it doesn’t really matter at this
point anyway. Washington and the greedy bankers have ensured the end of what
was once a great and proud nation filled with hope and opportunity. … ,Dollar Weakens Most Against Euro Since 2001 on U.S. Deficit ,Financial terrorism: US taxpayers bail out Wall Street
criminals, A Bailout to Nowhere ,…Cramer had said the astonishing 779-point
rally over the past two days can only mean one thing: sell. , in this election year obfuscation/desperation to cover-up
since all real news remains decisively negative as leading indicators fall, unemployment claims rise,
butsuckers’ bear market rally b**l
s**t talking points without realistic, legitimate, sound foundation previously rallied
stocks in nearly 600 point swing to the upside as wall street
shill/fraud/pointman/incompetent paulson floats new fraudulent wealth transfer
paid for by taxpayers (yet another bailout – tax revolts as predicted by
trendsresearch.com are a coming – McCain is quite right that land of fruits and
nuts man cox should be fired from the SEC; A New Resolution Trust Corp. for the Bankers? Kurt
Nimmo | Congress critters, former Fed mob
bosses want a public boondoggle along the line of the Resolution Trust Corp. to
bailout the banksters) and insurmountably increasing the defacto bankrupt
government’s debtin favor of the very
well-healed perpetrators of the fraud who should be prosecuted and forced to
disgorge their ill-gotten gains (bonuses, etc., in the multi-billions) before
even broaching the ill-advised united soviet socialist states of
america plan to have taxpayers pay for the wall street fraud, and then there
was the ridiculous spike from fed’s announced printing/creating more worthless
Weimar dollars ($180 billion - All Roads Lead To Hyperinflation ) which even
coupled with foreign contributions does not even register a blip of difference
in light of the magnitude of the amount of debt, $14 trillion private/$15
trillion public, much of which must be written down/off/non-performing . Don’t
be wall street’s (churn and earn) fool; time for them to pay up; time for you
to sell/take profits/cut losses! Housing construction
plunges 6.2 pct. in August,Worst
is yet to come, investment strategist warns (at MarketWatch), more gov’t bailout
taxpayer money with ever more worthless Weimar dollars (fed printing/creating
them like mad) proves the only lunatics (yes, the full moon) are not limited to
those lunatic fraudulent wall street needful things who should be prosecuted
and forced to disgorge their ill-gotten gains, as united soviet socialist
states of america (who built up communist china so who could have expected
less)takes 80% stake in AIG, spreads
widening as piles of worthless debt/securities/collateral unwind so sell into
these suckers’ bear market rallies as all problems remain US Economy:
Rudderless and Reeling From Direct Hits , Federal bank
insurance fund dwindling , More Socialism for
the Bankers: Fed to “Loan” AIG $85 Billion , economy so bad oil
demand own, so cut your losses/take whatever gains/get your money out while you
still can as industrial output down much greater than expected 1.1% (for the
prior month) , Meltdown in US finance
system pummels stock market , Rogers: Dollar To Lose World Reserve Status , AIG downgraded as financial
meltdown spreads , Wall Street mauled by
Lehman bankruptcy, AIG fears ,highest year over year foreclosures on
record, retail down .3% while inventories up, as bad news spurs over 150 point
swing to the upside into the close which shows irrationally fraudulent markets
trying to keep suckers sucked in for their commissioning pleasure,Bullish Sentiment Drops 30% , CBOE Put-Call Ratio Indicates Negative Outlook ,
Get Ready For the S&P 500 to Break Below 1200 ,
WaMu cut to "junk," sees $4.5
billion loss reserve (Reuters) , U.S. Trade Deficit Surges; Boosts Likelihood of Recession,
Job Losses ,August
foreclosures hit another record high , federal/trade
deficits among other bad news worse than expected which previously rallied
stocks (riiiiight!) on over 300 point swing to the upside (I don’t think
so)so sell into these ephemeral
rallies/"strength”, Lehman shows wider than expected $3.9 billiion loss, Another bull joins the bearsPeter Eliades now says Dow should drop below 9,000, election-year
sugar/fake reports as Pending home sales fall more than expected 3.2%
, Fannie/Freddie fail, federal takeover, taxpayer bailout (which the
frauds on wall street cheer since they believe their fraudulent gains, many
billions worth, might not be touched - they should be disgorged through
prosecution) as defacto bankrupt government to commit$100 billion each to insolvent fannie/freddie ($200 billion they
really don’t have to start with), very ridiculous so sell into ephemeral
rallies/"strength" since the same and all is very bad news Top Investor: Fannie/Freddie Bailout Serves "Bunch Of
Crooks And Incompetents"(more to follow this update on 9-7-08) suckers’ bear
market/short-covering rally into the close on 200 point swing to the upside
(riiiiight) on very bad news,nonfarm payrolls fell by 84,000 during August, bringing the unemployment rate to
6.1%,THE
LATEST FRIDAY FAILURE FOR THE U.S. BANKING INDUSTRY: US to take control of mortgage giants: reports
, Home
foreclosures reach record high , and keep in mind frauds/scams like wall street today invariably unravel as
reality bites with all news bad (except for fake news) and worse than expected
with new unemployment claims up more than 15,000 on top of terrible
back-to-school shopping/retail numbers, though still sugar-coated for election
year as sales at GM down 20% Ford down 26%, bankruptcies up, credit union taken
over by feds, August ISM Index down below 50
indicating contraction, construction spending fell a
larger-than-expected 0.6%, and spending down to lowest
level in 3 years with income declining .7% in contrast to previous day’s
suckers’ bear market rally on light volume so great time to sell/take profits
while you can since all problems remain] Election-year feel good typically
false/embellished at best temporary report on GDP 58% better than private
forecasts along with that bastion of american credibility, the scandal scarred
prevaricating commerce department comes through with fraudulent talking point
for the wall street frauds with durable goods numbers exceeding private
economist estimates by 400% (I don’t think so!), as one of Motek’s experts says
GDP number from government, at best temporary blip from rebate stimulous (those
election-year monies/printed Weimar dollars debt-ridden u.s. doesn’t really
have) and multi-national exports on weak dollar, seventh staight monthly
decline in payrolls in this real recession, and continued problems in financial
sector/real estate/defaults/writedowns; while anotherseasoned expert says doesn’t look good particularly for third and
fourth quarters. Motek’s expert says FDIC might have to borrow from treasury [FDIC may borrow money from Treasury], second largest quarterly loss on record from thrifts at $5.4
billion, Fannie/Freddie fail the performance test, and precipitous fall in
leading economic indicators indicative of deeper/longer recession that we’re
already in so high allocation to cash/low allocation to stocks. The Real Rate of Inflation is 13% No way to credibly
spin the record real estate price declines on high volume offoreclosure sales/high unsold inventories,
high inflation as other than the economic debacle it is, Motek’s expert
reiterates reality of this bear market, that stocks will resume slide, good
time to sell since pricey/frothy at avg. 24 P/E, that Freddie/Fannie
bailout/gov’t. takeover inevitable, more troubled banks [ FDIC's Problem Banks List Balloons (at TheStreet.com)
]
as loan defaults extend losses in sub-prime, to now prime, commercial, student
loans, credit cards, even as inflation up, and outlook very bleak. Previously,
another bank failure, but they say existing home sales up greater than expected
3.1%…but from auction/foreclosure sales (40%), prices down 7% (-22% in land of
fruits and nuts) and inventories of for sale/unsold homes at new record high
since tracking began in 1968 and worse to come, Chicago index of manufacturing
down indicating further economic weakness and Motek’s expert says ‘put’
activity indicates at least 10-15% more downside from here/government bailout
ot fannie/freddie inevitable and f/f stock worthless as all news decisively bad
beyond expectations though fudged to upside for election year and yet bernanke
who is printing worthless hyperinflationary Weimar dollars like mad soothed
(gives them fraudulent talking point) the frauds on wall street saying
essentially the economy is so bad inflation less of a problem (and no interest
rate hike-old news because of economic weakness and bad for dollar) sparking
suckers bear market rally on light volume, Buffett: We're
still in a recession,leading indicators down .7%,
unemployment near record levels,Oil jumps $5 on US-Russia tensions, sliding dollar , hence great
opportunity to sell/take profits since all problems remain and dollar
mini-spike short-lived though some fluctuations to upside on speculation other economies
will tank.Wholesale prices: Highest
annual rate in 27 years .The Strong Dollar Illusion.Housing starts and building
permits posted steep declines. That hub of global manufacturing buzzing
(riiiiight!) as empire state index as measured by private economists expected
to fall -4.2% but is reported up +2.8% (almost 300% better-I don’t think so,
and don’t buy the Brooklyn bridge, watches, swamp land in jersey, etc.),
inflation news double expectations Bracing for
Inflation August 15, 2008 (BusinessWeek Growing evidence
suggests American consumers, businesspeople, and political leaders should all
be bracing for double-digit inflation, probably as early as 2009), real estate
falling, U.S. Foreclosures Rise 55%, Bank Seizures Reach High , unemployment at
recession levels, etc.,. Note the rotation into the obscure world of so-called
tech which provides, as in prior such ploys (ie., dot-com bust, more recent
bust, etc.) the world street frauds with the ability to sell the sizzle since
investors and americans generally don’t understand it (ie., iphones are a joke
where the so-called “computer” is merely a restrictor of usual computer
functions now tied into apple products and government shill co att, and anyone
who pays the premium for apple products is a fool), and all news bad albeit
fudged to the upside in this election year.Fake trade figures, more writedowns/bad debt, still great opportunity to
sell/take profits. Just another frothy day in the rabidly fraudulent lunatic
world of wall street and great opportunity to sell/take profits since all
problems remain and dollar mini-spike short-lived. Fog of war ( U.S. Attacks Russia Through Client State Georgia –
don’t believe american lies/propaganda to the contrary) is frauds friend,
repeat three times to understand fraudulent wall street euphoria over diversion
(Georgia conflict) from their massive fraud which brought much greater than
expected losses at fannie (U.S. Headed Toward Bankruptcy, Says Top Budget Committee
Republican ) and triple-digit decline to triple digit
upswing so especially great opportunity to sell/take profits as glass-half-full
kind of frauds point to increase in (foreclosure/auction/forced) home sales
(riiiiight!) while they can no longerhide substantially increased unemployment, etc., economy so bad oil
demand declining which is shill point for next stage of (new) wall street
fraud/commissioned churn and earn scam which the taxpayers just underwrote/paid
for with complicit government, executive/legislative/judicial branches/fed.
Great opportunity to sell/take profits since all problems remain as real
numbers indicate previous decline in GDP though falsely reported as gain,
greater unemployment (watch for fake numbers from government) and much more
downside to come as stocks previously rallied on sharp increase in oil prices
and ADP, A JERSEY BASED COMPANY NOT UNFAMILIAR TO THE FRAUD/CRIME OF PLACING
FAKE/NON-EXISTENT EMPLOYEES ON PAYROLLS TO FACILITATE (ILLEGAL/DRUG) MONEY
LAUNDERING PLAYING BALL (I’M SURE FOR A PRICE/FAVOR) WITH THE FRAUDS ON WALL
STREET/ADMIN. WITH ALLEGED, UNEXPECTED INCREASE IN PRIVATE SECTOR JOBS, and
short-covering.The
Dow Priced in Ounces of Gold: Secular Bear Market Since '99 by Lindstrom from
Seeking Alpha AP
Business Highlights A private research group says that Americans remain
the most pessimistic about the economy since the tail end of the last prolonged
recession 16 years ago. But economists warn that the slight uptick, which
reverses a six-month slide since January, is likely to be only temporary and
doesn't signal the beginning of a rally…Yahoo… the
survey only has weak correlation with actual spending, so Briefing.com
does not put too much stock in the report.]Quantifying
Inflation by Zigler from Seeking Alpha,Housing report bruises frauds on wall street with reality
but false report from corrupt, scandal-scarred, criminal commerce department
(contrary to all expectations and contrary to all regional fed manufacturing
indices which declined) provides fake report and fraudulent lift . Great Opportunity to
Sell/Take Profits as Reality trumps bull s**t! Sell dollar denominated assets
as all problems remain. El-Erian: Buy more foreign stocksEven
in this century's darkest days of recession and war, U.S. households kept on
spending. But one of the smartest investors on the planet says the American
consumer is finally out of steam. Even if, and it is not, oil were the only
problem, the same is just a disruption away from a spike. Suckers’ bear
market/short-covering rally based on bull s**t alone, this time by wall street
shill paulson whose bailout rhetoric brings ‘irrational exuberance’ since wall
street frauds should be prosecuted, required to disgorge ill-gotten gains, and
jailed since they’re the ones who benefited and are escaping accountability by
the bailout. Except for multi-nationals and corporate welfare recipients (ie.,
Lockheed, etc.), greater than expected losses in not millions but billions
rallied the stocks. Remember, these are huge financial institutions unlike the
tiny S&Ls of the last banking fraud/wealth transfer (to frauds at expense
of taxpayers). Leading indicators revised down (after ‘election year keep the
incumbents’ fake report). What do you expect the wall street frauds/criminals
who should be held accountable and the failed (and illegal- constitution would
have to be amended to enable Fed to print those worthless Weimar dollars with
now even failed Fannie and Freddie getting some with taxpayer bailout) Fed to
say; admit they royally f**ked up, etc.,better than expected very bad news, ie., Citibank loses only $2.5
billion, hyperinflation, over 200%more
(suuuuure!) than expected oil inventories, GM cuts dividend, Intel monopoly
eliminates AMD, economy so bad less oil use/demand, riiiiight! What total bull
s**t! SELL INTO STRENGTH, TAKE PROFITS WHILE YOU CAN!] Similarities
between 1929 and 2008 terrifying [In just the
month of June, the Dow dropped 10.19%; the S&P fell 8.60%, and the Nasdaq
lost 9.10%. For the quarter, the Dow fell 7.44%; the S&P lost 3.23%, while
the Nasdaq had an anemic 0.61% gain. For the first half, the Dow is down
14.44%; the S&P lost 12.83%; and the Nasdaq has fallen 13.55%. Since their
high point last October, the Dow gave up 19.87%; the S&P dropped 18.22%;
and the Nasdaq is down 19.80%. A 20% drop from a market peak is considered the
start of a bear market — although many analysts say Wall Street already has a
bear market mentality (because the bear market already is.Some chart data/numbers on bear markets: first chartsecond chart).]FAKE GOV’T/ETC. ELECTION YEAR
REPORTS THAT EXCEED ECONOMISTS/ANALYSTS FORECAST/EXPECTATIONS, EARNINGS NOT AS
BAD AS EXPECTATIONS(SUUUUURE-SAME OLD
FRAUD). GREAT OPPORTUNITY TO SELL (TAKE PROFITS) WHILE YOU CAN, ESPECIALLY WITH
SUCKERS’ BEAR MARKET RALLIES ON NEGATIVE NEWS (PARTICULARLY SNEAKING INTO THE
CLOSE). NOTHING HAS CHANGED REGARDING TRADE AND BUDGET DEFICITS, WORTHLESS
WEIMAR DOLLAR AND THE HYPERINFLATION/STAGFLATION THEREBY, AND ELECTION YEAR
(THIS IS AN EPHEMERAL GOOD AS IT GETS SCENARIO) ATTEMPTS TO REINFLATE THE
BUBBLE, ETC., THAT HAS HELPED TO CREATE THIS FINANCIAL/ECONOMIC DEBACLE. THE
FED/WALL STREETFOCUS/DEFLECTION ON
CORE INFLATION IS A SHAM/FRAUD AND TANTAMOUNT TO SAYING IF YOUR MOTHER HAD
WHEELS SHE’D BE A TROLLEY CAR.[eND OF
FIRST QUARTER DOW –8%, nASDAQ-14%, AND S&P-10%. WALL STREET IS A JOKE THAT
IS NOT FUNNY]. USA
2008: The Great Depression. High
Likelihood of a Market CrashSimilarities
between 1929 and 2008 terrifying I
WARNED AGAINST THE DEBACLE IN IRAQ, I WARNED AGAINST GIVING DUMBYA BUSH WAR
POWERS, I WARNED OF THE BUBBLES IN REAL ESTATE AND STOCKS, AND NOW I WARN
AGAINST INVESTING IN DOLLAR DENOMINATED SECURITIES OR HOLDING SAME (SELL INTO
STRENGTH/TAKE PROFITS/SELL). SUCKERS’ BEAR MARKET/SHORT COVERING RALLY/NEW
BUBBLE MODE (ALONG WITH MODEST DROPS RELATIVE TO REALITY) SO SELL (TAKE
PROFITS) AS THE WALL STREET SCAM IS UNEARTHED BY REVELATION THAT OF 9
INVESTMENT VEHICLES S&P (MAJORITY OF 401K HOLDINGS, ETC.) WAS WORST
PERFORMER (1% OR LESS AND IF YOU FACTOR IN DECLINING DOLLAR, NEGATIVE RELATIVE
TO NON-DOLLAR DENOMINATED ALTERNATIVES OVER DECADE). JAWBONER BERNANKE SAYS
THIS DOWNTURN IS DIFFERENT FROM THE GREAT DEPRESSION AND HE IS RIGHT INASMUCH
AS AMERICA UNLIKE AFTER THE GREAT DEPRESSION WILL EMERGE FROM THIS DOWNTURN AS
SOMETHING SIGNIFICANTLY AND SUBSTANTIALLY LESS FROM WHICH THERE WILL BE NO
RETRACEMENT TO THE UPSIDE FINANCIALLY, ECONOMICALLY, GEOPOLITICALLY.Bank
issues global stock and credit crash alert...Write
Offs to Top $1.3 Trillion.Who didn’t see this coming?The
Next Crisis: 'Credit Default Swaps'-- Subprime is a Just a 'Vorspeise' . 5
REASONS WHY THE FED HAS FAILED.GREENSPAN: NO
REGRETS; U.S. IN SEVERE RECESSION. UK, US, AND
WORLD FACING THE BIGGEST FINANCIAL SHOCK SINCE THE GREAT DEPRESSION, SAYS IMF.VIX
TO VXV RATIO IS GIVING A STRONG BEARISH SIGNALYAHOO
FINANCE SUMMARIZES THE ESSENCE OF THE TRADING DAY: [BEFORE THE YAHOO
MAINSTREAM FLUFF, IT IS NOTEWORTHY THAT ALL THE PROBLEMS REMAIN FROM DEFICITS
TO WORTHLESS WEIMAR DOLLAR TO FRAUD TO FAKE GOV’T REPORTS,suckers’
bear market rally into the close,Analysts say
more U.S. banks will fail Jim Rogers: Dollar Doomed, Oil Will Go Over $200 per Barrel
Soon Fannie Plan a `Disaster' to
Rogers; Goldman Says Sell , why would anyone hold/invest in dollars (deficits, trade and
budget substantial, economic growth declining) so sell/take profits, if you’re
smart, as higher oil prices (7-10-08) sparks rally (riiiiight!) and investors
were encouraged by the possibility of more contributions to their fraud, and
Paulson says things are not as bad as the reports in this election year; he’s
right; they’re much worse! Remember greenspan’s perpetual envy of all the world
speeches; now Bernanke printing hyperinflationary Weimar dollars like mad;
they’re dreaming.Similarities
between 1929 and 2008 terrifying U.S. stocks post sharp weekly losses; bear market that
already is now said nears ,Stocks tumble as more bad economic news piles up,
Wave of bad news sends Dow down nearly 360, Sales of new homes
tumbled for the sixth time in seven months in May while median prices kept
plunging, American Express sees worsening credit conditions, but fake
government report of higher than expected oil inventories (riiiiight!) rallies
stocks, Home prices fall in April at record rate, Consumer confidence sinks to 16-year-plus low
,BlackRock sees global slowdown
worsening in 2009 ,DOWNGRADES OF
BANKING/FINANCIAL SECTOR AND IN AUTO SECTOR ALONG WITH BOND INSURERS AMBAC,
MBIA, AMERICA’S BLIND SUPPORT OF ISRAEL/ISRAELI AGGRESSION DEPRESSION CONTINUES
ON COURSE, PHILADELPHIA FED INDEX REGIONAL ASSESSMENT OF MANUFACTURING ACTIVITY
POSTED A BAD READING OF -17.1 FOR JUNE WITH JOBLESS CLAIMS MORE THAN EXPECTED
AND ANALYST SAYS RAISING CHINA'S GASOLINE AND DIESEL PRICES BY 46 CENTS A
GALLON NOT ENOUGH TO HAVE MUCH IMPACT ON EXISTING DEMAND, INFLATION UP AND
PRODUCTION DOWN EQUALS STAGFLATION (EVEN WORSE WHEN REAL NUMBERS HIT HOME), NEW
YORK MANUFACTURING INDEX DOWN AGAIN, REAL ESTATEPLUNGING, HOME BUILDERS’ CONFIDENCE AT/NEAR RECORD LOWS, BAD NEWS
BULLS SCENARIO AS ALL NEWS BAD BUT STOCKS RALLIED (AT BEST GIVING THEM BENEFIT
OF DOUBT, A SHORT-COVERING RALLY) AS CONSUMER CONFIDENCE AT LOWEST POINT IN 28
YEARS FOR GOOD REASONS, FORECLOSURES UP 50% TO RECORD HIGH LEVELS, COMMODITIES
(IE., CORN, ETC.) UP SHARPLY OWING TO MIDWEST FLOODS WHICH WILL ALSO IMPACT OIL
TO THE UPSIDEGOING FORWARD AS LESS
ETHANOL SUPPLIES/HIGHER PRICES, ONE RADIO REPORTER INTERVIEWS ECONOMIST WHO
INDICATES SCEPTICISM REGARDING (IE., INFLATION, ETC.) NUMBERS WHICH HE BELIEVES
ARE WORSE THAN REPORTED (HE’S RIGHT) BUT STILL MORE THAN EXPECTED UP .6% AND UP
MOST IN 6 MONTHS (INFLATION NUMBERS FUDGED FOR FED), ALL-TIME HIGH
REPOSSESSIONS UP 158%, JOBLESS CLAIMS UP MORE THAN EXPECTED AT HEFTY 384,000,
RETAIL SALES UP MORE THAN EXPECTED 1.4% (EXCLUDING AUTOS-SMART MOVE FOR NUMBERS
SAKE AND WALL STREET FRAUD), BUT INVENTORIES OF GOODS ROSE (THERE’S A LITTLE
COST-ACCOUNTING TRICK WHICH FRAUDS ON WALL STREET WOULD CELEBRATE/ENCOURAGE
SINCE QUALITY OF EARNINGS IS APPARENTLY NO LONGER SOMETHING THEY VALUE-SELL THE
SIZZLE/B**L S**T/AND WHAT IS LEAST UNDERSTOOD IS THERE MODUS POERANDI/MANTRA,
VIZ., OVER-PRODUCE GOODS FOR SALE (THE HIGHER INVENTORIES JUST REPORTED) AND
ATTRIBUTE FIXED COSTS TO GREATER NUMBER OF GOODS WHICH WOULD INCREASE PAPER
PROFITS FOR THOSE GOODS SOLD IN THE QUARTER (BE ESPECIALLY WARY SINCE
COMPUTERIZATION HAS MADE SUCH INVENTORY SURPLUSES AND THE CYCLICAL DOWNTURNS
THEREBY RELATIVELY RARE/MINISCULE) AND THEIR RETAIL SALES INCLUDES THOSE HIGH
OIL PRICES,BERNANKE JAWBONES DOLLAR
UP, RIIIIIGHT, SOME REALITY CATCHES UP AS UNEMPLOYMENT RATE JUMPS TO 5.5% WHILE
INTERNATIONAL LAW SCOFFLAW ISRAEL SAYS ATTACKING IRAN INEVITABLE AS OIL ANALYST
SAYS $300 OIL IF UN RESOLUTION VIOLATOR/WAR CRIMINAL ISRAEL DOES, BELYING THE
FALSE DATA,IE., 6-5-08 UNEMPLOYMENT
CLAIMS DOWN UNEXPECTEDLY 18,000 TO STILL HIGH 357,000, ETC., REMAINING PROBLEMS
INCLUDINGHOME EQUITY AT LOWEST LEVELS
SINCE WW2,DOWNGRADES ON FINANCIALS
INCLUDING AMBAC AND MBIA, ADP, A JERSEY BASED COMPANY NOT UNFAMILIAR TO THE
FRAUD/CRIME OF PLACING FAKE/NON-EXISTENT EMPLOYEES ON PAYROLLS TO FACILITATE
(ILLEGAL/DRUG) MONEY LAUNDERING PLAYING BALL (I’M SURE FOR A PRICE/FAVOR) WITH
THE FRAUDS ON WALL STREET/ADMIN. WITH ALLEGED, UNEXPECTED INCREASE IN PRIVATE
SECTOR JOBS, NET WORTH/WEALTH IN U.S. DOWN 11% ACROSS THE BOARD, DOLLAR DOWN AS
EUROPE RATIONALLY CONFRONTS INFLATION AND HINTS AT RATE INCREASES, OIL UP
SHARPLY, BIG DISCOUNTERS’ GAINS HARDLY MAKE FOR A POSITIVE RETAIL CLIMATE WITH
SHOPPING LEVELS DOWN 12-16%, MANUFACTURING INDEX STILL BELOW 50 INDICATING
CONTRACTION, CONSTRUCTION DOWN, INFLATION UP (THAT EQUALS STAGFLATION),
AIRLINES EXPECTING $2.3 BILLION LOSS INSTEAD OF PREVIOUSLY PROJECTED PROFIT,
LARGEST PRICE DECLINES FOR REAL ESTATE OF RECORD –14.4% (-22% IN THE LAND OF FRUITS AND NUTS) ACCORDING TO
CASE-SHILLER INDEX, CONSUMER CONFIDENCE AT LOWEST LEVEL IN 16 YEARS, BUT BAD
NEWS BULLS RALLY STOCKS ON THE BETTER THAN EXPECTED FAKE DATA ALONG WITH PLAIN BAD
NEWS AS CONSUMER CONFIDENCE READING AT 28 YEAR LOW, CONSUMER SPENDING FLAT
ADJUSTED FOR INFLATION, INFLATION EXPECTATIONS AT RECORD HIGHS WHILE 55%
BELIEVE GOVERNMENT ECONOMIC POLICY IS POOR (I’M SURPRISED AT THE LOW PERCENTAGE
RELATIVE TO REALITY), DROP IN OIL INVENTORIES (OIL DROPS) AND FAKE GOV’T REPORT
REVISING FIRST QUARTER GROWTH TO .9%(SUUUUURE… YOU THINK THE ‘WHAT HAPPENED’ REVELATIONS, SUBSTANTIVELY
REPORTED ON THIS WEBSITE LONG AGO (PRE-WAR), HAD SOMETHING TO DO WITH THE
FUDGING ), AND THINGS ARE NOT AS BAD AS THEY REALLY ARE … GREAT … RIIIIIGHT.
ANALYST EMPASIZES TREASURY YIELDS AT HIGHEST POINT THIS YEAR, WEAK CONSUMER
CONFIDENCE (WHICH TRANSLATES INTO WEAK SPENDING), FINANCIAL MELT-DOWN FAR FROM
OVER AS REGIONAL BANKS BEGIN TO TAKE HITS WHILE OIL ANALYST CITES UPWARD
PRESSURE ON PRICES AND TOUGH ENVIRONMENT FOR REFINERS.DON’T FORGET: THIS ELECTION YEAR PRINT AND
SPEND WORTHLESS WEIMAR DOLLARS, SPIKE IN GOVERNMENT PAYROLLS, FAKE/FUDGE
DATA/REPORTS, ETC., CAN’T CONTINUE IN LIGHT OF SUBSTANTIAL DEFICITS AND THE
FANTASY BUBBLE WILL BURST POST ELECTION.Bank
issues global stock and credit crash alert...Write
Offs to Top $1.3 Trillion.Who didn’t see this coming?The
Next Crisis: 'Credit Default Swaps'-- Subprime is a Just a 'Vorspeise'U.S. faces global funding crisis, warns Merrill Lynch More doom for global economy Visualizing Dow 6,000 ] U.S. Economy: The Worst is Yet to Come ,U.S. Bank Failures Loom ,New reports give bleak outlook
on housing, economy,Foreclosures hit a record high — and
more coming,Ford readies white-collar layoffs as sales tumble While GM
Shutters 4 North american Factories/Lays off Workers (Reuters),April insured mortgage defaults
rise (Reuters))
CHEER: Ambrose
Evans-Pritchard: Bank Crisis may make '29 look 'walk in park'...As central banks continue to splash their cash over
the system, so far to little effect, Ambrose Evans-Pritchard argues things
are rapidly spiralling out of their control Twenty billion dollars here,
$20bn there, and a lush half-trillion from the European Central Bank at
give-away rates for Christmas. Buckets of liquidity are being splashed over
the North Atlantic banking system, so far with meagre or fleeting effects.
"Liquidity doesn't do anything in this situation," says Anna
Schwartz, the doyenne of US monetarism and life-time student (with Milton Friedman)
of the Great Depression."It cannot deal with ….. that lots of firms are
going bankrupt. The banks and the hedge funds have not fully acknowledged who
is in trouble. That is the critical issue," she adds…..
The
time-lines below highlight the four recessions in the US economy since
1980…..While the NBER was only a little late in its recognition of the
recession that began in Summer 1981, they were late to the game in the
remaining three. In fact, during the last two recessions, the NBER did not
officially declare the start to a recession until the recession had already
ended. The u.s. is already in recession, beyond the fake data/reports, with
much higher than reported inflation, etc..
Economic
Expert Says Global Crash Imminent Echoes
former world bank leader with prediction of global recession Steve Watson A
leading economic expert has warned that a global crash and recession is
imminent on the back of record highs in real estate, stocks and energy,
combined with a devaluation of the dollar and continued speculative bubble
thinking. Robert Shiller, the Stanley B. Resor Professor of Economics at Yale
University told an audience at the annual Dubai
International Financial Centre (DIFC) Week that a sharp downward correction
is due in the global markets. Shiller stated: Perhaps we have gotten a little
too confident in the global economic growth, said Shiller. The problem is
high oil, stock and real estate prices. I believe that a substantial part is
speculative bubble thinking. We have gotten too confident of the prices in
these markets.
Economic Outlook 2008: Darkening Clouds
Dom Armentano Lew
Rockwell.com Thursday December 6, 2007 Presidential election years
usually are not recessionary but next year will be an exception. Several
economic factors are colliding in an almost perfect storm to markedly slow
the general economy and the stock market. The most important signal flashing
recession is, of course, the sub-prime mortgage fiasco. After years of
monetary inflation on the part of the Federal Reserve, individuals and
families with poor credit were suckered into low-down-payment/low-interest
adjustable mortgages that simply cannot be maintained or repaid under current
conditions. Their incentive is to sell the property quickly before their
equity evaporates and/or the financial institution repossesses it. Yet the
massive oversupply of homes and condos for sale has pushed prices down at a
record clip and made additional foreclosures even more likely. Next year,
unfortunately, will be the Year of the Auction. The financial institutions
have also been punished…well sort of. Various institutions including hedge
funds that hold these poorly performing debt obligations have been forced (by
accounting rules) to "write down" the value of these assets, take
huge paper losses in the bargain, and pull in their financial horns. Thus,
any near-term recovery in housing must now fight a record supply
availability, falling prices, higher insurance costs and restricted credit…a
near-term impossibility in my view. Moreover, the slowdown in residential and
commercial construction will send secondary ripple effects throughout the
economy. Laid-off construction workers don't spend money. Construction and
home furnishing suppliers sell less output and make fewer investments. Even
local governments will be pinched by declining property-tax assessments and
fewer developer fees. Things are likely to get worse before they get any
better. The second major factor indicating a near-term recession is the
sky-high price of crude oil and refined product. Pushed upward by world-wide
speculative Mid-East war fears and increases in demand (especially from
China), increasing energy prices act as an inflationary "tax" on
domestic production and consumption throughout the market economy. Higher costs
of production will lower profits; higher prices will reduce some consumption.
The only good news here is that any substantial economic slowdown in 2008
will eventually moderate the price of oil and other commodity prices as well.
The third factor in the current recession scenario – and the real wild card –
is the continuing decline in the value of the dollar in international money
markets caused by our Iraq blunder and the Federal Reserve–generated
oversupply of dollars. Some economists would argue that a devalued dollar is
good for U.S. exports, and thus positive for the economy as a whole. I
disagree for three reasons. First, the bulk of crude oil purchases takes
place in dollars; a falling dollar translates into still higher crude oil
prices. Second, the U. S. dollar is the major reserve currency of the
international monetary system and dollar-paying investments (such as U.S.
Treasury bills and bonds) are held in massive amounts by foreign banks and
governments. Dollar devaluation makes these investments less attractive and
any disinvestment in these areas would sharply drive bond prices down and
increase interest rates. The third reason why dollar devaluation makes
recession more likely is that it effectively prevents the Federal Reserve
from pushing U.S. interest rates much lower. Any additional Fed easing
(inflation) would be seen as a signal of even further future dollar
devaluation and even higher dollar prices for oil. Unfortunately, we will not
be able to "inflate" our way out of this recession this time. We
will simply have to take our lumps and let market forces liquidate the bulk
of the malinvestments caused by the unprecedented Greenspan money bubble.
This liquidation process will not be pretty but it is necessary to restore a
sustainable economic recovery in the years ahead.
Don’t forget: Criminal america has the highest
crime rates in the world. No other so-called ‘civilized’ nation even comes
close.
UNDERSTANDING
THE GREAT WALL STREET FRAUD (summarized) *(12-30-07) The best
and easiest to understand analogy, though not perfect, to the wall street
markets is the kiting of checks at lightning computerized trading speed on
which commissions are taken although there is nothing of real value
underlying their fraudulent scheme. (10-10-08) Now to bring this analogy
closer to the current crisis, assume as is the case of the worthless sub-prime
securities, there is no charge off/debit as is ordinarily the case with a
cleared check and the worthless 'collateralized sub-prime security' is
repackaged, resold, recommissioned based upon as collateral the original
worthless security which is in turn repackaged, resold, recommissioned based
upon as collateral the subsequent worthless security, and so on to the tune
of (hundreds of) trillions of this worthless, fraudulent paper (blatent
securities fraud which must be prosecuted and fraudulently derived profits
disgorged). *(12-31-07) The
ubiquitous computerization of wall street functions, the
enhancement/advance/integration of the said computer equipment/peripherals in
terms of computing power and speed, along with the concomitant
advance/sophistication of the programming concerning same has enhanced the
ability of the frauds on wall street to effect their frauds with blinding
speed vis-ŕ-vis the funds entrusted to their care by way of programmed
trades, ie., buy, sell, stop limits, etc.. An example (though not perfect) is
illustrative:Dow drops 200 points as
programmed sell orders kick in with some not so fudged negative news. Nothing
changes but the following day the market rises 205 points on programmed buy
orders (a little higher despite the absence of any positive news). Hence, the
huge swings which have become ever so more prevalent. Though nothing has
changed, hundreds of millions of dollars without relation to any value added
(in economic terms, service, etc.) is taken in commissions (percentages,
points, spreads) by the frauds on wall street on huge computerized trading
volume (hence, the multi-billion dollar bonuses on top of huge salaries,
etc.). The fact is that these funds entrusted to them are so large that such
computerized “buys” can simulate other than rational demand causing prices to
rise solely to generate huge commissions to them and new funds coming in (as
in a ponzi scheme). The corrupt government has been complicit in terms of
false economic reports, legislation protecting the fraud (ie., exemption from
RICO accountability, etc.), while the courts are also corrupt facilitators
(ie., new york, new jersey, california, etc., and similarly don’t count on
arbitration panels).There was a time
when transaction costs mattered in financial investment decisions. The
trades/commissions are not a net positive for the economy but are indeed of
great benefit to the recipients of same (who like termites eat away at other
peoples’ money, and whose marginal propensity to consume is less than those
allocating their monies/pensions/401ks/savings etc.; hence, the mess to
follow). Finally, the NASDAQ/tech has become the “safe haven” but in reality
as in the dot.com bust days are just the great story without much fundamental
understanding that keeps the fraudulent ball rolling. (1-01-08) Remember: more contrived wasteful
commissions to the wall street frauds, the level and percentage of which
should be examined in light of computerization and decreased costs attendant
to same especially since only A Very Small Fraction Of What wall street Does
Is A Net Positive For The Economy (New Investment Capital via, ie., ipo’S), The Rest Is Tantamount To A
(Economically) "Wasteful Tax" (On The Economy) via 'churn and earn'
computerized programmed trades. *(1-3-08) $14
billion ($21 billion in 2006) in bonuses to the lunatic/frauds on wall street
for a commissionable (sub prime bundled) fraud well done, inflation up,
dollar down, oil prices up, manufacturing down; one
analyst/reporter/journalist from inside sources pegs the sub-prime dollar
value of the shilled worthless paper at $516 TRILLION (even a percentage of
same renders the problem unfixable-hence, culpable parties must be held
accountable and disgorge their ill-gotten gains from, ie., commissioning
worthless paper, taking a point here or there and fraudulently passing same
on, ad infinitum, etc.). Of course there are also a plethora of
garden-variety frauds as always, ie., 10-B-5, insider trading, etc..
*(10-10-08) Now to bring the initial
check-kiting analogy closer to the current crisis, realize as is the case of
the worthless sub-prime securities, there is no charge-off/debit as is
ordinarily the case with a cleared check and the worthless 'collateralized
sub-prime security' is repackaged, resold, recommissioned based upon
(collateralized by) as collateral the original worthless security which is in
turn repackaged, resold, recommissioned based upon as collateral the
subsequent worthless security, and so on (a geometric progression)to the tune of (hundreds of) trillions of
this worthless, fraudulent paper (blatent/flagrantsecurities fraud which must be prosecuted and fraudulently
derived profits disgorged).
THE BAILOUT FRAUD/SCAM
This is not brain surgery and
the fraud, bonuses/compensation (mortgages, subprime and otherwise, are only
a relatively small portion of the fraud/scam providing “cover/collateral” for
the worthless but heavily commissioned paper over and over again in a
multiplicity of different forms of worthless paper) in the mega-billions should
first be disgorged before taxpayers are forced to pony up and pay the frauds
again for their fraud which caused the problem in the first instance, must be
prosecuted. It should also be noted that despite the rhetoric, the wall
street bailout will NOT solve the crisis or eliminate the economic pain
except to make permanent the fraudulent wealth transfer to the most well
healed heals/frauds/criminals in the nation who caused the so-called crisis
by their greed/corruption/fraud.
Just as
the Twin Towers collapsed from the top down, so too will the US economy from
an Economic 9/11. When the high-stake speculators, banks, brokerages, and
buyout firms that leveraged billions with millions get hit ... everything
underneath them will turn to rubble.
The Panic of 08
Failing
banks, busted brokerages, toppled corporate giants, bankrupt cities, states
in default, foreign creditors cashing out of US securities … whatever the
spark, the stage is set for panic in the streets. When the giant firms fall,
they'll crush the man on the street. ....
Conservation
Engineers
More
powerful than high tech and paying much better than the booming health care
sector, we forecast that "Conservation Engineers" and
"Conservation Specialists" that are skilled in providing
enviro-smart solutions will be among the most handsomely rewarded and sought
after professions for the next several decades.
Tax Revolts
It was a
reason given for starting the first American Revolution and as the trends add
up, it will also be a reason for starting the second. Fed up, and not willing
– or able – to take it anymore, overtaxed Americans will begin the battle
against politicians and bureaucrats in the fight to lower and/or repeal
taxes… while demanding higher tax rates for those seen as paying too little.
.....
Bye, Bye Bucks
America’s
going broke and the whole world knows it. Betting that its economy will
spiral down and that the dollar will fall with it, foreign creditors are
dumping dollars on the market … and even Third World street vendors don’t
want to take greenbacks any longer. The further it falls, the less it’s
worth. The less it’s worth, the less it buys. In the real world they call it
"inflation." In America they call it "good for business."
......
Small is Big
Unlike
the years of personal prosperity and business growth long perceived a
birthright … today, as America’s fortunes dwindle, its people will be forced
to adjust attitudes and alter practices to compensate for the losses.
Although the oncoming national downsizing trend may be a blow to egos and
painful to pocketbooks, if intelligently deployed and spiritually practiced,
the "Small is Big" trend can lead to more progressive advancement
and greater rewards than the supersizing trend that has been consuming much
of the nation.
Heal Yourself
Health Care
Just as
it took mountains of facts and bottom line realities to finally convince a
consumption prone public that energy saving tools and environmentally sound
practices bring bigger rewards and higher quality, the oncoming "Heal
Yourself Health Care" trend will be as widely embraced and will prove
equally rewarding. Evolving over the past two decades, along with growing
acceptance of seeking alternative medical options, the "Heal Yourself
Health Care" trend is being driven by both the lack of money and the
power of the mind.
TechnoSlaves.com
It’s a
quickly spreading worldwide epidemic that will get much worse. All colors,
classes, creeds and races are addicted and they can’t break the habit. Before
2008 ends, the TechnoSlave trend will be so pervasive and so deeply embedded
into the fabric of society that Old World communication styles will be seen
as quaint and ridiculed as stupidly boring by the high-tech "hip."
Across borders and around the world, blinking lights of blue and red flash
from human ears … electro-plastic appendages affixed to the body and
controlling the mind. So self-important have society’s members become that
they must be connected at all times … to be in touch and instant messaged …
for work, play and to fill the voids of idle time.
Jeremy Grantham:
All the World's a BubbleBy Brett
Arends
…..Grantham says we are now seeing the first worldwide bubble in history
covering all asset classes.
Everything is in bubble territory, he says.Everything.
'The bursting of this
bubble will be across all countries and all assets.' -- Jeremy Grantham
The United States is heading for
bankruptcy, according to an extraordinary paper published by one of the key
members of the country's central bank.
A ballooning budget deficit and a pensions and welfare timebomb
could send the economic superpower into insolvency, according to research by
Professor Laurence Kotlikoff for the Federal Reserve Bank of St Louis, a
leading constituent of the US Federal Reserve.
Prof Kotlikoff said that, by some measures, the US is already
bankrupt. "To paraphrase the Oxford English Dictionary, is the United
States at the end of its resources, exhausted, stripped bare, destitute,
bereft, wanting in property, or wrecked in consequence of failure to pay its
creditors," he asked.
According to his central analysis, "the US government is,
indeed, bankrupt, insofar as it will be unable to pay its creditors, who, in
this context, are current and future generations to whom it has explicitly or
implicitly promised future net payments of various kinds''.
Prof Kotlikoff, who teaches at Boston University, says:
"The proper way to consider a country's solvency is to examine the
lifetime fiscal burdens facing current and future generations. If these
burdens exceed the resources of those generations, get close to doing so, or
simply get so high as to preclude their full collection, the country's policy
will be unsustainable and can constitute or lead to national bankruptcy.
"..... there are strong reasons to believe the United
States may be going broke."
Experts have calculated that the country's long-term
"fiscal gap" between all future government spending and all future
receipts will widen immensely as the Baby Boomer generation retires, and as
the amount the state will have to spend on healthcare and pensions soars. The
total fiscal gap could be an almost incomprehensible $65.9 trillion,
according to a study by Professors Gokhale and Smetters.
The figure is massive because President George W Bush has made
major tax cuts in recent years, and because the bill for Medicare, which
provides health insurance for the elderly, and Medicaid, which does likewise
for the poor, will increase greatly due to demographics.
Prof Kotlikoff said: "This figure is more than five times
US GDP and almost twice the size of national wealth. One way to wrap one's
head around $65.9trillion is to ask what fiscal adjustments are needed to
eliminate this red hole. The answers are terrifying. One solution is an
immediate and permanent doubling of personal and corporate income taxes.
Another is an immediate and permanent two-thirds cut in Social Security and
Medicare benefits. A third alternative, were it feasible, would be to
immediately and permanently cut all federal discretionary spending by 143pc."
The scenario has serious implications for the dollar. If
investors lose confidence in the US's future, and suspect the country may at
some point allow inflation to erode away its debts, they may reduce their
holdings of US Treasury bonds.
Prof Kotlikoff said: "The United States has experienced
high rates of inflation in the past and appears to be running the same type
of fiscal policies that engendered hyperinflations in 20 countries over the
past century."
Stock
market staggers, but investors still may be too optimistic
Commentary:
Newsletters react to stock markets' losing week By Peter Brimelow,
MarketWatch12:04 AM ET Jul 17, 2006 Investors may still be too optimistic
NEW YORK (MarketWatch) -- First, a proprietary word: on Friday night, the
Hulbert Stock Newsletter Sentiment Index (HSNSI), which reflects the average
recommended stock market exposure among a subset of short-term market timing
newsletters tracked by the Hulbert Financial Digest, stood at plus-23.8%.
This was certainly below the 31.4% it showed on Tuesday night, when Mark
Hulbert worried, presciently we must say, that it was too strong from a contrary
opinion point of view. But it's still above its 12.6% reading at end of June,
although, Mark pointed out, the stock market had declined in the interim. And
since Mark wrote, the Dow Jones Industrial Average has had three triple-digit
down days.
Not
good.
Dow
Theory Letters' Richard Russell wrote Friday morning: "If the Dow breaks
support at 10,760, I think we could have some nasty action, even some
crash-type action." But, perhaps significantly, Russell did not quite
hit the panic button when the Dow did indeed close at 10,739 Friday night.
He simply remarked,
supporting the contrary opinion view: "Three days in a row with the Dow
down over 100 points each day -- you don't see that very often. But still no
signs of real fear, no capitulation, no panic -- just down, down, and down.
The key consideration here is that there is still no sign of big money coming
into this market. In fact, the big money has been leaving this market all
year. ... The longer the market continues down without a panic decline, the
worse the ultimate panic will be when it arrives."
What is Wrong with the Stock Market?
Dr. Khaled Batarfi
John D. Rockefeller was once asked why
he decided to sell all his stocks just months before the 1929 Wall Street
Crash. He explained: One morning, I was on the way to my office and stopped
to have my shoes polished. The guy asked my advice about the shares he
bought. If people with this kind of talent were now playing the market, I
knew there was something wrong.....
U.S. Treasury balances at Fed fell on July 17Tue Jul 18, 2006
WASHINGTON, July 18 (Reuters) - U.S. Treasury balances at the Federal
Reserve, based on the Treasury Department's latest budget statement (billions
of dollars, except where noted):
July 17 July 14 (respectively)
Fed acct4.087 4.935
Tax/loan note acct 10.502
10.155
Cash balance 14.589 15.192
National debt,
subject to limit 8,311.633
8,323.084
The statutory debt limit
is $8.965 trillion.
The Treasury said there were $192 million in
individual tax refunds and $23 million in corporate tax refunds issued.
End Of
The Bubble Bailouts A. Gary Shilling, Insight 08.29.06 - For a
quarter-century, Americans’ spending binge has been fueled by a declining
savings rate and increased borrowing. The savings rate of American consumers
has fallen from 12% in the early 1980s to -1.7% today (see chart below). This
means that, on average, consumer spending has risen about a half percentage
point more than disposable, or after-tax, income per year for a quarter-century.
The fact
that Americans are saving less and less of their after-tax income is only
half the profligate consumer story. If someone borrows to buy a car, his
savings rate declines because his outlays go up but his disposable income
doesn’t. So the downward march in the personal savings rate is closely linked
to the upward march in total consumer debt (mortgage, credit card, auto,
etc.) in relation to disposable income (see chart below).
Robust
consumer spending was fueled first by the soaring stock market of the 1990s
and, more recently, by the housing bubble, as house prices departed from
their normal close link to the Consumer Price Index (see chart below) and
subsequently racked up huge appreciation for homeowners, who continued to
save less and spend more. Thanks to accommodative lenders eager to provide
refinancings and home equity loans, Americans extracted $719 billion in cash
from their houses last year after a $633 billion withdrawal in 2004,
according to the Federal Reserve.
But the
housing bubble is deflating rapidly. I expect at least a 20% decline in
median single-family house prices nationwide, and that number may be way
understated. A bursting of the bubble would force many homeowners to curb
their outlays in order to close the gaps between their income and spending
growth. That would surely precipitate a major recession that would become
global, given the dependence of most foreign countries on U.S. consumers to
buy the excess goods and services for which they have no other markets.
That is, unless
another source of money can bridge the gap between consumer incomes and
outlays, just as house appreciation seamlessly took over when stocks
nosedived. What could that big new source of money be? And would it be
available soon, given the likelihood that house prices will swoon in coming
quarters?
One possible
source of big, although not immediate, money to sustain consumer spending is
inheritance. Some estimates in the 1990s had the postwar babies, who have
saved little for their retirement, inheriting between $10 trillion and $41
trillion from their parents in the coming decades. But subsequent work by
AARP, using the Federal Reserve’s Survey of Consumer Finances for 2004 and
previous years, slashed the total for inheritances of all people alive today
to $12 trillion in 2005 dollars. Most of it, $9.2 trillion, will go to
pre-boomers born before 1946, only $2.1 trillion to the postwar babies born
between 1946 and 1964, and $0.7 trillion to the post-boomers.
Furthermore,
the value of all previous inheritances as reported in the 2004 survey was
$49,902 on average, with $70,317 for pre-boomers, $48,768 for boomers and
$24,348 for post-boomers. Clearly, these are not numbers that provide for
comfortable retirements and, therefore, allow people to continue to spend
like drunken sailors.
What
other assets could consumers borrow against or liquidate to support spending
growth in the future? After all, they do have a lot of net worth, almost $54
trillion for households and nonprofit organizations as of the end of the
first quarter. Nevertheless, there aren’t any other big assets left to tap.
Another big stock bonanza is unlikely for decades, and the real estate bubble
is deflating.
Deposits
total $6.3 trillion, but the majority, $4.9 trillion worth, is in time and
savings deposits, largely held for retirement by financially conservative
people. Is it likely that a speculator who owns five houses has sizable time
deposits to fall back on? Households and nonprofits hold $3.2 trillion in
bonds and other credit market instruments, but most owned by individuals are
in conservative hands. Life insurance reserves can be borrowed, but their
total size, $1.1 trillion, pales in comparison to the $1.8 trillion that
homeowners extracted from their houses in the 2003-2005 years. There’s $6.7
trillion of equity in noncorporate business, but the vast majority of that is
needed by typically cash-poor small businesses to keep their doors open.
Pension
funds might be a source of cash for consumers who want to live it up now and
take the Scarlett O’Hara, “I’ll worry about that tomorrow” attitude toward
retirement. They totaled $11.1 trillion in the first quarter, but that number
includes public funds and private defined benefit plans that are seldom
available to pre-retirees unless they leave their jobs.
The
private defined contribution plans, typically 401(k)s, totaled $2.5 trillion
in 2004 and have been growing rapidly because employers favor them. But
sadly, many employees, especially those at lower income levels, don’t share
their bosses’ zeal. Only about 70% participate in their company 401(k) plans
and thereby take advantage of company contributions. Lower paid employees are
especially absent from participation, with 40% of those making less than
$20,000 contributing (60% of those earning $20,000 to $40,000), while 90% of
employees earning $100,000 or more participate.
Furthermore,
the amount that employees could net from withdrawals from defined
contribution plans would be far less than the $2.5 trillion total, probably
less than the $1.8 trillion they pulled out of their houses from 2003 to
2005. That $2.5 trillion total includes company contributions that are not
yet vested and can’t be withdrawn. Also, withdrawals by those under 59˝ years
old are subject to a 10% penalty, with income taxes due on the remainder.
With
soaring stock portfolios now ancient history and leaping house prices about
to be, no other sources, such as inheritance or pension fund withdrawals, are
likely to fill the gap between robust consumer spending and weak income
growth. Consumer retrenchment and the saving spree I’ve been expecting may
finally be about to commence. And the effects on consumer behavior,
especially on borrowing and discretionary spending, will be broad and deep.
Analysts' Forecasts and Brokerage-Firm Trading
THE ACCOUNTING REVIEW Vol. 79, No. 1 2004 pp. 125–149 Analysts’ Forecasts
and
Brokerage-Firm Trading Paul J. Irvine Emory University University of
Georgia
Collectively, these results suggest that analysts can generate higher trading
commissions through their positive stock recommendations than by biasing
their forecasts.
Sartre, Courtesy of Etherzone.com, on the Typical Criminal
american B**l S**t: "The official rate of inflation is a lie. Look at
the expense on essentials. The price tag of food has gone through the roof.
Energy, medical, insurance and education costs are unbearable. As the rise in
local and state taxes far out pace any minimal reductions on the federal
level. The huge balance of payments trade shortfall is no accident.
Government deficits grow, as massive debt piles up. No wonder the laws of
economic veracity require a loss of purchasing power in the value of the
currency".
Insiders Selling At A Rate Of 5 to 1! 'Peak Oil' Has Been Reached [In Part The Work Of The criminal
american (think tank/neo-cons/titans of industry/cia/nsa,etc.)
"geniuses" who have built up communist China militarily and
economically].
·Record
High Oil Prices
·Consumer
Confidence (consumption 65% of GNP) Down
·Record
High Deficits (budget, trade, attention, intelligence, etc.)
Wall
Street Lunacy 2007 
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