Woe to americans who Are All Prisoners Now All Americans are now imprisoned in a world of lies and deception created by the Bush Regime and the two complicit parties of Congress, by federal judges too corrupt, timid or ignorant to recognize a rogue regime running roughshod over the Constitution, by a bought-and-paid-for media that serves as propagandists for a regime of war criminals, and by a gutless, ignorant public who have forsaken their self-respect.

Benazir Assassinated

CHEER: Ambrose Evans-Pritchard: Bank Crisis may make '29 look 'walk in park'...

Alexander Tytler: "The average age of the world's greatest civilizations has been two hundred years JonesReport.com | 12-4-07
"The average age of the world's greatest civilizations has been two
hundred years. These nations have progressed through this sequence: from
bondage to spiritual faith; from spiritual faith to great courage; from
courage to liberty; from liberty to abundance; from abundance to
selfishness; from selfishness to complacency; from complacency to
apathy; from apathy to dependence; from dependency back again into
bondage."-- Alexander Tytler

FDR: "They who seek to establish systems of government based on the regimentation of all human beings by a handful of individual rulers... call this a New Order. It is not new and it is not order."

Andrew Jackson: "There are no necessary evils in government. Its evils exist only in its abuses."

Congressman McFadden (1934) on the Fed: "This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government."

AP: TOP 10 NEWS STORIES '07...

Former CIA Interrogator: We Carried Out Torture Because The White House Told Us To

Fire out at building next to White House

Kucinich's brother found dead

FBI agent threatened to arrest CIA interrogators in 2002.

Countdown: Bushed! Countdown's list of the top three Bush scandals you may have forgotten about because of all of the new Bush scandals. This week's scandals: Habeas Corpus-Gate, Air-Gate and NIE-Gate.

Bush administration: Back off says war criminal and strategist dumbya bush on CIA tape probe CNN

HUCKABEE SLAMS 'ARROGANT' BUSH WHITE HOUSE

Romney Proves to All He is Not as Smart as he appears to be by Hitting Huckabee for Appropriately Criticizing War Criminal Dumbya bush for the debacle in Iraq (, etc.,) Which Is the Greatest Foreign Policy Blunder in america’s short-lived history (while concomitantly destroying the republican party, etc.) - tush tush, bush bush Washington Post

Bill Clinton Says He Wasn’t Ready for White House When He Squandered the Cold War Victory and Consequent Peace Dividend and that by resisting the bushit team Obama isn't Ready For White House which is ridiculous based upon the substantial damage the bush-clinton-bush corrupt regimes have caused the nation and the world...

Bush-Clinton-Bush-Clinton : Two Families, Three Decades In The White House, The Very Best Of Times For Them and the Worst of Times and Decline For america are (and this should be the wake-up call) best Friends

WYOMING DEM CHIEF: CLINTON WOULD HURT PARTY...

LA's gangland culture spreading chaos, violence into America's heartland...

AT&T engineer says Bush Administration sought to implement domestic spying within two weeks of taking office

Dodd ready to mount filibuster to block telecom immunity

The End of America

Naomi Wolf - "There hasen't been a real investigation of 9/11."

Lee Hamilton Says the CIA Obstructed the 9/11 Commission

CIA Failed To Fully Inform Congress About Destroyed Tapes CBS News

More Evidence of Obstruction of Justice in 9/11 Investigation

Neocons Revise WMD Entry on Wikipedia Propaganda Portal

Pelosi and Harman Aided and Abetted 9/11 Cover Up

The White House and Congress Knew about the CIA Interrogation Videotapes

USATODAYGALLUP POLL: Approval of Congress sinks to new low...

9/11 Victims' Lawyers Blast Ground Zero Toxic Air Lies In Court

Bush Authorizes Full Access to U.S. Roads for Even More Mexico-Based NAFTA Trucks

What is the CFR?: The Bush Clinton Bush Clinton Administration

Olbermann: Bush is a BOLD faced LIAR about NIE/Iran

Russia's well-founded and rational deep suspicion of (particularly criminal america) the West

Hillary Campaign Tactic Backfires as Top Aide Quits

REPORT: FBI Videotape shows Sharpton cutting a deal...

Victim: Gang-Rape Cover-Up by U.S., Halliburton/KBR

Greenspan sees early signs of U.S. stagflation

Poland does not need U.S. missile defense base - ex-PM

Iran Is No Threat and That’s Official “They stole our threat” goes a headline in the Israeli daily Haaretz. The author is, of course, referring to the recently published US National Intelligence Estimate (NIE) composed by 16 American intelligence.....

Gov't official: No 'smoking gun' on Iran

Egypt Govt Accuses Israel of Meddling in Its Ties With US

Paul: Israel Demanding U.S. Further Its Self-destructive Pro-israel Mode and Invade Iran

Russia warns of US missile shield retaliation

PA Economy Worst Affected by Israeli Restrictions: WB

Israeli Airstrikes in Gaza Kill 7

NASA 'on target for return to the moon for the first time by 2020'…..riiiiight!.....UFOetry: We Never Went To The Moon - The Award-Winning Documentary/Music/Video by John Lee
'The Mother of All Frauds'

History Channel Admits WTC Tower Fell At Freefall Speed

FBI Now Admits Evidence Used to Connect Oswald to Kennedy Assasination Was Bogus

Food prices rising at highest rate for 14 years

Taj Mahal Won't Accept bushit american Dollars as India Laments Lost Value

THE HILL: Dems Cave On Spending...

China's Yuan at new high vs dollar...

YEAR-ENDER: Home Sales Plunge, Feed Recession Fears...

To Understand Business/Economics for the Coming Year The New Year Starts Here (scroll down for current date)

(1-7-08) With sloth-like reflexes and speed the lazy, fallible frauds on wall street now recognize, yes we’re already in a recession. Forget Bulls/Bears. Their new mascot:
The Prehistoric Sloth. Sloths all, the lunatic/frauds on wall street are slothish on america.

Recession in the US 'has arrived': Merrill Lynch

Morgan Stanley issues full US recession alert Ambrose Evans-Pritchard
Tuesday December 11, 2007 Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a "perfect storm" for consumers as the housing slump spreads. In a report "Recession Coming" released today, the bank's US team said the credit crunch had started to inflict serious damage on US companies…..

Reuters House prices seen falling 30 pct 12- 6-07 By Julie Haviv NEW YORK (Reuters) - Housing markets from Punta Gorda, Florida, to Stockton, California, will crash and suffer price drops of more than 30 percent before the housing crisis is over, a report from Moody's Economy.com said on Thursday. On a national level, the housing market recession will continue through early 2009, said the report, co-authored by Mark Zandi, chief economist, and Celia Chen, director of housing economics. The report paints a worsening picture of the hard-hit housing sector, which is in the midst of its worst downturn since World War II. While activity will stabilize in 2009, it will not be until 2010 before a measurable improvement in sales, construction and pricing will emerge, the report said…..

Earnings Recession Has Arrived U.S. corporate profits are in a recession, and the entire economy can not be far behind. Slower sales and higher energy and labor costs are forcing companies from Bear Stearns Cos. to Pitney Bowes Inc. to reduce spending and hiring. Their efforts to keep earnings from eroding even further raise the risk that the economy, already weakened by the steepest housing slide since 1991, may shrink sometime next year. ‘The earnings recession has already arrived, says David Rosenberg, North America economist for Merrill Lynch & Co. in New York. We are going to see an economic recession in '08.…..’

BANK OF AMERICA Sees Bigger Writedowns (12-12-07).....

MORGAN STANLEY first loss ever; taps China for $5 Billion...

PAPER: Housing foreclosures largest since Great Depression...

Home Prices Fall for 10th Straight Month

Oil price spikes close to $97...

CITIGROUP and MERRILL face bigger writeoffs/dividend cuts, etc.....

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…..

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

trump’s fired

U.S.National Debt (real time)

(9-24-10) Dow 10,860 +197 Nasdaq 2,381 +54 S&P 500 1,148 +23 [CLOSE- OIL $76.44 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,298 (+24% for year 2009) / SILVER $20.42 (+47% for year 2009) PLATINUM $1,639 (+56% for year 2009) / DOLLAR= .74 EURO, 84 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.60% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME! [ (2-16-10) Paul B. Farrell, MarketWatch Economic Doomsday is Here Market rallies on weak worthless Weimar dollar, higher oil prices, and news from ny fed, the one with $4 trillion missing/unaccounted for, that NY is now a global hub of manufacturing activity with stimulus-generated inventory increase (even if believed), that former obfuscating source of cyclic up must come down as said inventories are unsold or unloaded…riiiiight!…Total bull st!… Shadowstats’ John Williams: Prepare For The Hyperinflationary Great Depression `Roubini: 'The worst is yet to come'...` `Top Eurobank prepares for 'global economic collapse'...` CHINA: ‘The world does not have Money to buy more US Treasuries’ We Have Reached the Top of the Stock Market (Charts/Analysis/Article 1-19-10) Marketwatch: U.S. stocks held their gains following the release of the home builders' sentiment index, which declined in January as industry leaders remained concerned about the poor job market and the continuation of home foreclosures. Read more about the sentiment survey. It’s Time to Sell the Market…(1-19-10 Why wait till too late?) … This means closing out some longs for a profit, or at least taking some money off the table. This also means considering what one would do if stocks were to stage a significant reversal. The fact that corporate insiders are selling their stakes in record numbers and that fewer and fewer investors are participating in this rally makes a massive reversal probable rather than possible this year!... Peter Shiff: Economic collapse in near future / 2010, coming decade worse than past decade …S&P sells on a price-to-earnings multiple of 88 after the recent financial results. That is a horrendous overvaluation. A reasonable p/e would be around 18-25…’ Economist Wachtel says practices that caused crisis in play, toxic assets still there, and economically sound lending not viable …El-Erian who oversees nearly $1 trillion in assets, more than the gross domestic product of most countries, says stocks will drop 10 percent in the space of three or four weeks, bringing the Standard & Poor's 500 index below 1,000 soon… Breaking Point 2010: Top Trends with Gerald Celente …DO YOU THINK IT IS POSSIBLE IN 2010 FOR THE UNITED STATES TO END UP AS BADLY AS ARGENTINA A DECADE AGO? “Worse! Worse than Argentina because our debt problems are worse. This is classic empire decline. Argentina was not even an empire. We’re fighting wars in foreign countries as we are depleting the Treasury .…That’s why we are calling it: Breaking Point 2010!” The History of the Future: Trends 2012 Autumn 2012, the “Greatest Depression” has spread worldwide … `THE NUMBER: DEC. -85,000 JOBS... 10%...` `'WORSE THAN EXPECTED'... rallies stocks anyway (they probably just didn’t bother resetting the computerized churn-and-earn trade programs) / the new carry-trade borrow low then buy bubble trade deficit up /` US Will Hit 94% Debt to GDP Ratio Next Year, Surpassing the Level Where Debt Starts Reducing Economic Growth Shrinking US Labor Force Keeps Unemployment Rate From Rising … Negative data spurs market rally … riiiiight! `New jobless claims rise 'more than expected'...` `Retail sales drop in December; Sales for all of '09 plunge by record amount...` `Record year for foreclosures...` Worthless Weimar dollar, inflation, unsustainable debt, higher interest rates, and fake numbers rally stocks Food Stamps Go to a Record 37.2 Million, USDA Says Bloomberg Last decade was the worst ever in the stock market Jay Bookman | In nearly 200 years of recorded stock-market history, no calendar decade has seen such a dismal performance as the 2000s. Foreclosure / distressed sales up again and a lunatics’ santa claus rally as in bubble-crashes past WITH NEW BUBBLE IN THIS PREPOSTEROUS AND FRAUDULENT ENVIRONMENT WITH CONTINUED SUCKERS’ COMPUTER PROGRAMMED /SHORT-COVERING /BEAR MARKET RALLY (ON TRADE DEFICIT UNEXPECTEDLY UP MORE, CONSUMER CONFIDENCE UNEXPECTEDLY DOWN MORE, DYING DOLLAR, MUCH WORSE THAN EXPECTED 10.2% UNEMPLOYMENT RATE, EVEN MORE FAKE GOVERNMENT REPORTS, NEW RECORD DEFICIT 1.42 TRILLION, HIGHER OIL PRICES, EVER MORE WORTHLESS DOLLAR, CRASH IN COMMERCIAL REAL ESTATE, INCOME/CONFIDENCE DOWN, B.S. SERVICE SECTOR MEANINGLESS REPORT, LOTS OF FORECLOSURE SALES) BASED ON FAKE DATA [WATCH FOR CORRUPT GOV’T, IE., COMMERCE DEPT (GDP +3.5% BEATS ESTIMATES-HAS BEEN PREVIOUSLY DISCOUNTED MANY TIMES OVER), ETC., FALSE REPORTS TO FROTH MARKET], BAD DATA (JOB LOSSES UP, BANKRUPTCIES UP 41%, CAR SALES / MANUFACTURING DOWN, ETC.), BULL ST (IE., MERGER MANTRA-LIKE CHURN AND EARN COMMISSIONS GREAT FOR WALL STREET FEES BUT BAD FOR EVERYONE ELSE ESPECIALLY SINCE LEADING INDICATORS WITH B.S. STOCK COMPONENT THE ULTIMATE BOOTSTRAP, MORE WORTHLESS WEIMAR DOLLAR, ETC.), BETTER THAN EXPECTATIONS MANTRA (Paul B. Farrell: America's soul is lost and collapse is inevitable Recession Will Be ‘Full-Blown Depression’:(10-17-09) Strategist/Analyst 5 DISTURBING FACTS FOR BULLS David Weidner's Writing on the Wall: Taking the inside path to new bubble and fraudulent gains wall street frauds as before they tout multinational currency translation for window dressing but quality of earnings and prospective growth and stability in doubt and already discounted and substantially overvalued s Another Financial Bubble Comes Into View Oil price hits new high for 2009 Gold at $2,000 Becomes Inflation-Adjusted Bullseye for ‘80 High ) [We Are in Deep Trouble: We are Going to See New Lows in The Markets The Recession Is Far from Over Portfolio Manager Says Dow Will Fall To 6,300 By Year End Classic Market Bubble October ‘Crash’ Still on the Way: CEO Max Keiser On JPMorgan, Goldman Sachs Et Al’s Fraud Goldman Sachs Operative Hired as SEC Unit COO October: High Risk for Bulls …The big, smart traders will use any buying from the public to sell into. After all, the stock market has rallied on fumes, hopes and expectations. It will be the typical case of "selling on the news."… U.S. Stock Markets Disconnected from Reality U.S. Foreclosure Filings Jump 23% to Record in Third Quarter 1929 And Today - Sobering Parallels Abound Dollar loses reserve status to yen & euro Dollar drops to 14-month low; commodities rise Rothschild Biographer: Dollar Will Suffer Long, Protracted Death Major U.S. banks and securities firms on route to award record pay in '09, despite the damage they caused from their yet unprosecuted fraud and the change back to old FASB fraud facilitator ‘mark to anything they want’ accounting: report Jim Rogers “Quite Sure” Gold Will Hit $2000, Dollar Will Lose Reserve Status Goldman Sachs 2009 bonuses to double 2008’s; $23 billion could send 460,000 to Harvard, buy insurance for 1.7 million families A second Great Depression is still probable Financial Times Gold Jumps to Record as Inflation/Worthless Dollar Outlook Fuels Investor Demand Robert Fisk on the Gulf ‘Ditching the Dollar’ AlJazeera | Report suggests a move to the Japanese Yen, Chinese Yuan, and the Euro. The 'Buy Anything' Market It's the "buy anything market" brought to you courtesy of the destruction of your currency… `Defaults on Credit Cards Climbed to Record 11.49%...` It Is Going To Be A Rocky Road Chuck Baldwin | America is on the verge of total financial collapse. The Economy is a Lie, too Paul Craig Roberts | The worst part of the decline is yet to come. BULLISH STANCE IS WEARING THIN WAY TOO MUCH RISK IN THE EQUITY MARKET Mark Hulbert (9-22-09): Corporate insiders selling at faster pace The stock market rally is just another bubble — and it’s set to pop Marc Faber Says U.S. Government Will Fail in 5 to 10 Years Push For New Global Currency At G20 HSBC bids farewell to dollar supremacy US To Face ‘Armageddon’: China, Japan Can’t Keep Buying Worthless Debt Senator Sanders: “Don’t Believe Anybody Who’s Telling You ‘The Recession is Over’ ” FDIC May Tap Fed Treasury Funds State Unemployment Keeps Rising; Three Hit Record Highs John Browne…And the markets just don't get it. Technically, S&P profits are down some 90 percent, but the Index has risen to push P/E ratios to levels not seen since 1929. Bernanke Says Recession Over. Should You Believe Him? Barry Ritholtz | Based on his track record as a forecaster and his acumen in identifying economic problems before they exploded, his views on starts and finishes of recessions are, to be blunt, irrelevant. Entering the Greatest Depression in History Andrew Gavin Marshall | The economic crisis is anything but over, the “solutions” have been akin to putting a band-aid on an amputated arm. Roubini Sees Stock Declines as Soros Warns on Economy Expect Economic Stagnancy, If Not Worse, for Years to Come Obama referred to Friday's jobs data, a loss of 263,000 jobs (roughly 100,000 more than economists expected) as sobering. Well, I agree, but to say it was unexpected is to buy into those that thinks we are in recovery phase. To me we are in the lull before the storm. By the way, of over 80 economists surveyed, none, not one, predicted the number to be as high as 263,000. That reality is sobering. But if you really want something sobering, I suggest the following link. As the author points out, if you are expecting consumers to start spending more money for an economic rebound then you are sadly mistaken. They are already spending at very high (record) levels in terms of a percentage of personal income and as a percentage of GDP. And even that is not really lifting us out of this recession absent government support. Even though consumers are pretty much spending as much as they can, the economy is still struggling. So I don't expect things to improve from here. And as this piece points out, we are in for a world of hurt due to the size of the private debt that has built up. Charts Predict Downside for the Markets Shorting the Double Dip The double dip has begun… The reported unemployment number is 9.8%; real unemployment is 20% if you include those who have stopped looking and part time workers wanting to work full time. And the labor force participation rate is at a 23 year low... The Recovery That Isn’t Peter Schiff | Americans are once again taking the government’s bait by spending money they don’t have to buy things they can’t afford. Dangers, Failures, Diversions and Shortfalls Bob Chapman | Yes, too big to fail is still in vogue, just as it was in the 1930s. The Real Reason the Giant, Insolvent Banks Aren’t Being Broken Up US Lost Credibility by Saying Banks Were Healthy, Audit Says World Bank and IMF join global attack on the dollar Larry Edelson | Washington has no choice but to devalue the dollar — and how global leaders and even the United Nations have joined the attack on the greenback by demanding it be replaced as the world’s reserve currency. US economic decline forges new world order Agence France-Presse | “The American engine is not as strong as it was before,” IMF managing director Dominique Strauss-Kahn said in a speech. Expert on Structured Finance and Derivatives Gives the Big Picture Wall Street disguised these toxic “investments” with new value-destroying securitizations and derivatives. Meanwhile, collapsing mortgage lenders paid high dividends to shareholders (old investors) and interest on credit lines to Wall Street (old investors) with money raised from new investors in doomed securities. New money allowed Wall Street to temporarily hide losses and pay enormous bonuses. This is a classic Ponzi scheme… 300 Members of The House Support Audit the Fed `Roubini: Stocks, Commodities Have Risen 'Too Much, Too Soon, Too Fast'...` TARP Boss Plays Soft Ball with the Banksters Kurt Nimmo | The “gigantic train of crime” is rolling again and it will be far worse than it was in 1929 and the 1930s. Study: Bernanke, Paulson misled public on bailouts Euro Banks May Have to Raise $78 Billion: JP Morgan U.S. Suffering Permanent Destruction of Jobs HSBC Chief Warns of Second Downturn: Report Unemployment to Rise Through Most of 2010: Roubini Key Reversals on September 23 Started the Return of the Bear Central Banks Continue to Reduce Their Share of Dollar Reserves IMF Growth Forecast: Cause for Concern, Not Optimism In a climate where economic planners and market participants are desperate Market Rally Exaggerates Reality Plunging Pensions: Taxpayers Below Some Scary Implications of US Debt Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman “Everything the US has done since the crisis is wrong” – economist US credit shrinks at Great Depression rate prompting reality of double-dip recession Ron Paul: Federal government ‘one giant toxic asset’ Bankster Bailout Did Nothing to Solve Problem, Crisis Now Worse 16 Reasons for Equities Markets to Fall Soon WHY THE BULLS ARE SKATING ON THIN ICE Treasury: Millions more foreclosures coming Forbes Reports the Dollar Has Collapsed `PAPER: AMERICA 'FACES ARGENTINA-STYLE FALL'...` Forbes Reports the Dollar Has Collapsed Predicting Worse Ahead from America’s Economic Crisis 3 more bank failures bring 2009 total to 92 `WHITE HOUSE ECON ADVISER: HIGH UNEMPLOYMENT FOR YEARS TO COME...` The Coming Consequences of Banking Fraud Job losses slow if you believe their fake numbers (they revealed prior better than expected numbers which previously rallied stocks, were indeed not better than expected in fact, and then rallied them again); jobless rate at 26-year high We are reminded of Japan where rates were microscopic for years and the Nikkei certainly did enjoy no fewer than four 50% rallies and over 420,000 rally points in a market that is still more than 70% lower today than it was two decades ago , The market is basically discounting an earnings stream that even the consensus does not see for another two to three years ], EVER MORE WORTHLESS WEIMAR DOLLAR, INCREASED FORECLOSURE SALES AND BEN (HE STILL HAS A JOB - AS AMERICANS LOSE THEIRS) BERNANKE BULL ST (REMEMBER HIS NO RECESSION TALKS, MANY OF THEM, TO FROTH THE MARKET THEN AS NOW AND HOW MANY SUCKERS’ POINTS TO THE UPSIDE THEREFROM – WHAT TOTAL BULL ST, WHAT FRAUDS!) EVEN AS ECONOMIST KELLNER JOINS THE RATIONAL CROWD SAYING ECONOMY WILL COLLAPSE UNDER ITS OWN WEIGHT IN 2010 AND CONTINUED BAD NEWS [ INSIDERS ARE DUMPING STOCK Insiders Selling Stocks at Highest Level Since May 2008 (8-31-09) INSIDERS CONTINUE TO SELL, SELL, SELL (AT SEEKING ALPHA 8/13/09) `PAPER: FRESH ALERT ON GLOBAL STOCK MARKETS...` The Great Depression and Today - Sobering Parallels Abound Roubini: “When Governments Reach the Point Where They Are Borrowing to Pay the Interest on Their Borrowing They Are … Running a Ponzi Scheme” Economic Collapse: Bank Runs, China, Peter Schiff, Gerald Celente, Max Keiser Oldest Swiss Bank Wisely Tells Clients to Sell U.S. Assets or Leave Looming Global Debt Crisis Congressman Grayson: Fed Secretly “Stuffed” $500 Billion into “Foreign Private Pockets” and Gave $230 Billion to Citi “As a Secret Bailout” Ron Paul: End the Fed, Save the Dollar Gerald Celente: There is No Recovery Madoff Files: A Chronicle of SEC Failure US jobless soars as companies squeeze workers US jobless soars as companies squeeze workers `Food stamp list soars past 35 million... and New record; up 22% from '08...` Fairy Tales of Recovery, Reality of More Failures Goldman Sachs Wrong on Economic Recovery, Macro Hedge Funds Say The Coming Deposit Insurance Bailout Five banks closed by U.S. regulators with 89 total closures Russian Professor: Collapse Of America Could Begin In Two Months The $531 Trillion Dollar Derivatives Time Bomb Dollar Is Funny Money in Push for World Currency: Kevin Hassett Commercial Real Estate Next Mortgage Crisis Federal Reserve made $14 billion on turmoil loans `Banks' struggles have worsened...` Lehman claims could reach $100 billion: PwC [$$] Raft of Deals for Failed Banks Puts U.S. on Hook for Billions (at The Wall Street Journal Online) Three more banks fail; 2009 total hits 84 Goldman "Trading Huddles" Expose Fiction of Level Playing Field 1,000 Banks to Fail In Next Two Years AP sources: $2 trillion higher deficit projected (AP) Judge Orders Fed To Disclose Who Received Bailout Trillions Zero Hedge Claims that the Federal Reserve ITSELF Traded Over a Trillion Dollars Worth of Derivatives in March Alone Geithner: Auditing the Fed is a “line that we don’t want to cross” The Federal Reserve Must Die “True Deleveraging Has Not Begun Yet Because Losses of Financial Institutions Have Been Socialized” `Obama Predicts Unemployment, Deficits Far Worse Than Previously Stated...` `Grim...` "Artificially Sweetened" Market Could Face "Seismic Readjustment," Harrison Says `Official: Real unemployment rate at 16%...` `WSJ: Dollar Steadily Losing Influence... Senator warns of hyperinflation...` Failed banks mount; Ga, Ala, and large Texas banks shut Learn to Love the Depression US jobless claims in surprise jump for second week WHY DO EQUITY MARKETS DISAGREE WITH THE DATA? Brookings “Experts” Admit Stimulus a Bust Analyst warns of 150-200 more U.S. bank failures Government Revises Deficit Estimates Again: We Will Exceed Expectations Manufacturing Jobs Drop To Lowest Level Since 1941 What rebound? Foreclosures rise as jobs and income drop Fed to Steal State Pension Funds IMF Says You’ll Have to Pay More Taxes The risk of continuing depression rising CALPERS IS UNSUSTAINABLE `What rebound? Foreclosures rise...` Grab Your Shorts, The Correction Has Begun THE SECOND WAVE OF THE DEPRESSION: HYPERINFLATION IS LIKELY THE FDIC IS BROKE. NOW WHAT? (PART II) `DOLLAR TO DECLINE AMID CONCERN AS IT 'LOSES RESERVE STATUS'...` JOBLESS SPIKE COMPOUNDS FORECLOSURE CRISIS STOCKS SLIDE ON ECONOMY CONCERN WORLD STOCKS, OIL TUMBLE ON U.S. FRAUD EXPOSURE AND CONSUMER WORRIES Connecticut Not Learning the Right Lessons from California Weekly Market Outlook: Commercial Real Estate Continues to Deteriorate Retail sales fall, new jobless claims rise (Reuters) US Home Foreclosures Set Another Record in July Colonial BancGroup shut down by federal officials (largest bank failure this year) (AP) Economist: Claim that Economy Has Recovered “Is Like Somebody Borrowing Money from Their Uncle and Then Celebrating that Their Income Has Gone Up” ] PERSONAL & BUSINESS BANKRUPTCIES UP, WORTHLESS WEIMAR DOLLAR DOWN, FORECLOSURES UP (32% YOY AND 7% MOM AT NEW RECORD, 50% HOMES UNDERWATER, COMMERCIAL TO FOLLOW), CONFIDENCE REALISTICALLY DOWN, $100+ OIL AROUND CORNER (2010-HOGAN); HILLARY KRAMER-10% CORRECTION, CELENTE-DEPRESSION NOW UNDERWAY Bob Prechter Quite Sure Next Wave Down Will Be Bigger and March Lows Will Break Gerald Celente 2.5 Million Jobs Lost Since Obama’s Presidency `PAPER: Fresh alert on global stock markets...` TO KEEP SUCKERS SUCKERED [ Insiders Continue to Sell, Sell, Sell (at Seeking Alpha – 8/13/09) (7-29-09) Insiders Selling at Alarming Levels Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [`Tarp banks award billions in bonuses...` Goldman Sachs on pace for record bonuses: report (Reuters) Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly Max Keiser: Prosecute the Bankster Crime Syndicate The Market's Horoscope: Downside Correction ! [ Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars This Depression is just beginning The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s. `Feds Hit With Biggest Tax Revenue Drop Since 1932...` The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go… An Artifical Recovery [$$] Why I Went Fully Into Cash Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. Most of the enthusiasm comes from another string of corporate quarterly results which “beat expectations”. I had hoped that the sheep were starting to clue-in to this silly game, however it appears there is a still a large pack of Pavlov's Dogs out there – who respond to their propaganda cues without a moment of actual thought. The truth is that all of the companies “beating expectations” are still reporting steadily worse results year-over-year – and in many cases, much worse results. Among the few exceptions are U.S. financial corporations. However, since accounting-fraud was legalized in the United States (see “FASB strong-armed into mark-to-fantasy accounting”), their bottom-lines have had absolutely no connection to their business operations… The Real Economy Versus the Make-Believe World of the Government and Financial Giants In the real economy, unemployment is at Depression-era levels. Top firms' pension funds plummet Consumer bankruptcies jump 34% Nine Of Ten Sectors Overbought This Depression is just beginning US companies axe 371,000 jobs in July `Half of U.S. mortgages seen underwater by 2011...` Recovery ‘not in sight’ says BMW ] CONTINUED FRAUD WITH PROGRAMMED SUCKERS’ RALLY DESPITE NEW RECORD FOR CONTINUING UNEMPLOYMENT CLAIMS AT 6.3 MILLION AND AS I WARNED, WATCH FOR FAKE REPORTS IN DESPERATION – AND LABOR DEPT. CAME THROUGH WITH FAKE REPORT AND NEW LIE BASED UPON PEOPLE STOPPED LOOKING FOR JOBS SO THEIR RATE 9.4 BUT OBAMA SAYS 10% - REALITY IS UNEMPLOYMENT RATE IS WELL OVER 10%, THEN AIG SOARS ON “PROFIT” WITH $87 BILLION IN TAXPAYER FUNDS TO PLAY WITH [ Max Keiser: Prosecute the Bankster Crime Syndicate Insiders Continue to Sell, Sell, Sell (at Seeking Alpha) `PAPER: Fresh alert on global stock markets...` Retail sales fall, new jobless claims rise (Reuters) US Home Foreclosures Set Another Record in July (7-29-09) Insiders Selling at Alarming Levels …Although the level of insider selling is certainly alarming it's important to note that the very low levels of buying are particularly alarming. Insiders sell stock for many reasons, but they generally only buy stock for one reason: they believe the stock is going up. Despite the fact the media is reporting an end to the recession, a bottom in housing and a trough in earnings we are seeing a vote of zero confidence from the people who know these companies better than anyone else… Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars Causes of This Depression Yet To Be Addressed Further impoverishment is on the way. More and more will be laid off and they’ll be no new jobs available. Savings will be exhausted and most homes that have been financed will be under water. Some banks paid bonuses bigger than income: o This Depression is just beginning You read that right! Only $400 billion of that fantastic 6 month “green shoots” stock market rally came from money market accounts. The rest ($2.3 trillion) was laundered through the banks and other financial institutions to create the appearance of recovery and to raise equity for underwater banks rather than forcing them into receivership (which is where they belong) Bernanke probably knew that congress wouldn’t approve another TARP-type bailout for dodgy mortgage-backed assets, so he settled on this shifty plan instead. The only problem is, the banks are still broke, business investment is at historic lows, consumers are on the ropes, the unemployment lines are swelling, the homeless shelters are bulging, the pawn shops are bustling, tent cities are sprouting up everywhere, and according to MarketWatch, Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.” Face it; the economy is in the crapper and Bernanke’s trickery hasn’t done a lick of good. The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s. Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break The Real Economy Versus the Make-Believe World of the Government and Financial Giants In the real economy, unemployment is at Depression-era levels. Top firms' pension funds plummet Consumer bankruptcies jump 34% Nine Of Ten Sectors Overbought This Depression is just beginning `Feds Hit With Biggest Tax Revenue Drop Since 1932...` The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go… An Artifical Recovery [$$] Why I Went Fully Into Cash US food stamp list tops 34 million for first time The Banks Own the Fed, and the Central Banks Own BIS AIG breakup nets Wall Street $1 billion bonanza: report ‘Underwater’ Mortgages to Hit 48%, Deutsche Bank Says `Oil price hits $76, highest since October...` US companies axe 371,000 jobs in July `Half of U.S. mortgages seen underwater by 2011...` Recovery ‘not in sight’ says BMW Recession Worse Than Prior Estimates, Revisions Show Bloomberg | The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. DO YOU REALIZE HOW MANY SUCKERS’ RALLY POINTS WERE ADDED BY THE FAKE NUMBERS CONTRIBUTING TO THIS NEW COMMISSIONING BUBBLE! `REVISED: ECONOMY 2X WORSE...` `The government plans big revisions to historical economic data... Developing...` `Regulators shut banks in Fla., NJ, Ohio, Okla...` WASHINGTON (7-31-09) (AP) -- Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults. PhD Economist: Fed has Caused Soaring Unemployment, Millions of Foreclosures, Millions Losing Life Savings and More than $6 Trillion in Lost Output `DOLLAR DROPS TO '09 LOW...` Unemployment spreads distress in U.S. home loans `Weak Treasury Auctions Raise Worries About Debt Burden...` [$$] Senate Probes Banks for Meltdown Fraud (at The Wall Street Journal Online) Even Bernanke Admits this Could be Worse than the Great Depression Senate probes Goldman, Deutsche: report (Reuters) The Real Unemployment Rate Hits a 68-Year High 2009 Looking More Like 1929 `Dollar Falls to 2009 Low...` U.S. Markets Decline After Weaker Than Expected Data A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. ] AND NOTHING REAL OR POSITIVE AT ALL (IE., STILL NO PROSECUTIONS OF THE FRAUDS ON WALL STREET SO JUST ANOTHER BUILT-IN COST BY CHURN-AND-EARN COMMISSIONS TO, DEFACTO TAX ON NON-PERFORMING / DECLINING ECONOMY, DURABLE GOODS DOWN/FORECLOSURES UP, CONFIDENCE REALISTICALLY DOWN, CORRUPT COMMERCE DEPARTMENT CHIMES IN WITH FAKE NUMBERS, USED HOME SALES UP WITH DEFAULTS/ SHORT SALES, JOB LOSSES UP, BETTER THAN EXPECTED MANTRA, GUIDANCE THAT DEFIES REALITY BY A LONG SHOT AS IN LAST COMMISSIONABLE BUBBLE BUST, JOB/COST CUTS TO BONE, ETC.) ( Max Keiser: Prosecute the Bankster Crime Syndicate Max Keiser: Goldman Sachs Are “Scum,” “Financial Terrorists” Bank profits not as impressive as they seem when you take into account TARP funding, changed accounting rules to fudge books, new stock issues, etc… um Cost Of Bailout Hits A Whopping $24 Trillion Dollars Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars Stearns Crucifies Paulson On Bailout Bait And Switch Fiscal ruin of the Western world beckons Foreign Embassies Urged to Stockpile Local Currencies Bailout Overseer Says Banks Misused TARP Funds Regulators shut banks in Calif., Ga. and SD ) TO KEEP SUCKERS SUCKERED [ (7-29-09) Insiders Selling at Alarming Levels Insiders Exit Shares at the Fastest Pace in Two Years Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break ] AND COMMISSION DOLLARS FLOWING [`Tarp banks award billions in bonuses...` Goldman Sachs on pace for record bonuses: report (Reuters) Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly Max Keiser: Prosecute the Bankster Crime Syndicate Corporate Media Spotlights Distortion of Market by High Frequency Trading [$$] Big Pay Packages Return to Wall Street as new fraud gains steam (at The Wall Street Journal Online) Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t Max Keiser: Goldman Sachs Are “Scum,” “Financial Terrorists” Max Keiser goes on the offensive during an appearance on France 24 as he slams Goldman Sachs as “scum” and “financial terrorists” who should be thrown in jail. ‘Printing money will lead to serious problems down the road,’ says Jim Rogers Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’ 2009 Looking More Like 1929 AIG breakup nets Wall Street $1 billion bonanza: report ] BASED ON CONTINUED BAD NEWS ( ie., `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` Scams And Bailouts The Cause of World Depression Insiders Continue to Sell, Sell, Sell (at Seeking Alpha 8/13/09) `PAPER: Fresh alert on global stock markets...` Retail sales fall, new jobless claims rise (Reuters) US Home Foreclosures Set Another Record in July (7-29-09) Insiders Selling at Alarming Levels Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. The Market's Horoscope: Downside Correction Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars Causes of Depression Yet To Be Addressed Further impoverishment is on the way. More and more will be laid off and they’ll be no new jobs available. Savings will be exhausted and most homes that have been financed will be under water. Some banks paid bonuses bigger than income: o This Depression is just beginning You read that right! Only $400 billion of that fantastic 6 month “green shoots” stock market rally came from money market accounts. The rest ($2.3 trillion) was laundered through the banks and other financial institutions to create the appearance of recovery and to raise equity for underwater banks rather than forcing them into receivership (which is where they belong) Bernanke probably knew that congress wouldn’t approve another TARP-type bailout for dodgy mortgage-backed assets, so he settled on this shifty plan instead. The only problem is, the banks are still broke, business investment is at historic lows, consumers are on the ropes, the unemployment lines are swelling, the homeless shelters are bulging, the pawn shops are bustling, tent cities are sprouting up everywhere, and according to MarketWatch, Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.” Face it; the economy is in the crapper and Bernanke’s trickery hasn’t done a lick of good. The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s. `Feds Hit With Biggest Tax Revenue Drop Since 1932...` The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go… An Artifical Recovery [$$] Why I Went Fully Into Cash Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break The Real Economy Versus the Make-Believe World of the Government and Financial Giants In the real economy, unemployment is at Depression-era levels. US companies axe 371,000 jobs in July `Half of U.S. mortgages seen underwater by 2011...` Recovery ‘not in sight’ says BMW Top firms' pension funds plummet Consumer bankruptcies jump 34% Nine Of Ten Sectors Overbought This Depression is just beginning US food stamp list tops 34 million for first time The Banks Own the Fed, and the Central Banks Own BIS AIG breakup nets Wall Street $1 billion bonanza: report ‘Underwater’ Mortgages to Hit 48%, Deutsche Bank Says `Oil price hits $76, highest since October...` US companies axe 371,000 jobs in July Unemployment spreads distress in U.S. home loans Cities in the U.S. Sun Belt states of California, Florida, Nevada and Arizona dominated the record foreclosure spree in the first half of the year, but distress in other regions emerged as joblessness spread, RealtyTrac said on Thursday. Recession Worse Than Prior Estimates, Revisions Show Bloomberg | The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. Do you realize how many suckers’ rally points were added by the fake numbers contributing to this new commissioning bubble! `REVISED: ECONOMY 2X WORSE...` `The government plans big revisions to historical economic data... Developing...` `Regulators shut banks in Fla., NJ, Ohio, Okla...` WASHINGTON (AP) -- Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults. PhD Economist: Fed has Caused Soaring Unemployment, Millions of Foreclosures, Millions Losing Life Savings and More than $6 Trillion in Lost Output `DOLLAR DROPS TO '09 LOW...` 75% Favor Auditing The Fed `Tarp banks award billions in bonuses...` The Real Unemployment Rate Hits a 68-Year High 2009 Looking More Like 1929 `Dollar Falls to 2009 Low...` `Six Georgia banks fail, bringing year tally to 64....` Rally may cool on earnings reality check Dollar Falls to Near 2009 Low as Economy Pares Refuge Demand Ben Bernanke Was Wrong Wall Street’s Love Affair with Ben Bernanke Mike Whitney | bernanke knows that the country is in a Depression Scams And Bailouts The Cause of World Depression New US weekly jobless claims jump Its Official: U.S. Trapped in an Extended Depressionary Cycle `MICROSOFT Profit Drops 29% as PC Slowdown Weighs on Revenue… they haven’t availed themselves of the fake assets/books legislation recently passed...` `AMAZON.COM Profit Drops 10%...` Bernanke: “I Don’t Know” Which Foreign Banks Were Given Half a Trillion Paul Joseph Watson Grayson grills Fed chairman on destination of credit swaps. `Fed: unemployment will top 10 percent this year...` Foreclosures (those increased home sales that has been fueling suckers’ rally) rise 15 percent in first half of 2009 `(7-17) Three more banks fail, bringing 2009 tally to more than double all of 2008 at a total thus far of 57` Lower Markets on the Horizon Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly The Ultimate Insider Trading Scheme Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t Cost Of Bailout Hits A Whopping $24 Trillion Dollars Stearns Crucifies Paulson On Bailout Bait And Switch Fiscal ruin of the Western world beckons Foreign Embassies Urged to Stockpile Local Currencies Bailout Overseer Says Banks Misused TARP Funds TARP watchdog says Treasury lacking bank data Goldman Sachs caused the problems in the first place… Who can deny that? Budget deficit tops $1 trillion for first time (AP) CIT Watch: Analysts Says Debt Load Isn't the Only Problem Geithner Refuses to Rule Out Continuing Using American Taxpayer as Piggy Bank for Derivatives Losses `WHITE HOUSE ECON ADVISER CLAIMS SUCCESS: FEWER PEOPLE SEARCHING 'ECONOMIC DEPRESSION' ON GOOGLE BECAUSE EXPERIENCING IT FIRST-HAND THEY ALREADY KNOW WHAT ECONOMIC DEPRESSION IS...` What Economy? There’s Nothing Left to Recover There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy “ ; less bad, not as bad as expected…riiiiight!, tarp money for the commission frauds on wall street in new manufactured bubble as actual/real manufacturing down again; c`onsumer confidence down, commercial loans begin default phase of downturn, 6.9 million continuing unemployment claims for new record; retail sales down sharply`A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. Economist: FDIC gearing up for bank closures Goldman Sachs Admits Its Software Can “Manipulate Markets in Unfair Ways and fraudulently generate commissions /trade volume” Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t You Tube | Goldman Sachs are scum– that’s the bottom line. They have co-opted the government, the Treasury Department and the Federal Reserve’s functionality. They’ve co-opted the Obama administration & Barack Obama dances to Goldman Sachs’ tune. True unemployment rate already at 20% This Depression Will Last For Years Wyoming sees first bank failure since 1991 China criticizes dollar `AIG Preparing to Pay New Round of Bonuses...` While Talking About Keynesian Stimulus, Feds Are Really Just Giving Money to the Big Frauds FDIC Insurance Fund: It Doesn’t Actually Exist Replacing the dollar as reserve currency US loses 467,000 jobs, unemployment at 9.5% `'We're in the Middle of a Crash': Black Swan...` Economic Expectations – Unemployment Rate Will Reach 15% David Tice: We are going into a depression-15% unemployment or more on horizon. U.S. consumers fall behind on loans at record pace `FBI: Mortgage fraud 'rampant' and growing...` Celente and Schiff Predict Food Panic This Year. Watch clips HERE. Fema Camps Built. Wall Street hits 10-week low amid talk of new stimulus `(7-2)Seven more banks fail, bringing 2009 tally to more than double all of 2008 at a total thus far of 52; Private sector sheds another 473,000 jobs in June...` US lurching towards ‘debt explosion’ with long-term interest rates on course to double Jim Rogers Sells Dollars, Plans to Short Treasuries ‘Sucker’s Rally Beginning To Unwind’ daaaah…? Calls grow to supplant dollar as global currency China officials call for displacing dollar, in time Tracking Two Depressions, 1929 and now this `Mortgage applications fall to 7-month low...` `Private sector sheds another 473,000 jobs in June...` `'Layoffs may be worsening'...` AIG shares drop after 1-for-20 reverse-stock split (AP) Manhattan apartment prices skid 13 to 19 percent Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california) `Consumer confidence suffers steep fall...` `Home prices post 18% annual drop...` Worldwide Depression: Review of Global Markets . Four banks fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44 Dollar Falls Most in Month as China Urges New Reserve Currency Gerald Celente speaks on Cap and Trade and other handicaps to the US economy HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) ] BASED ON CONTINUED BAD NEWS ( ie., `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. `, personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar` Dollar And Stocks Drop As China Calls For New Global Currency `,` continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what bl st!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%; U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. Markets See a Breakdown in Technical Support Levels `Roubini: USA sees double-dip recession...` Jobless claims rise; GDP dips in 1Q Bernanke faces GOP-led (who are they kidding-bushies/paulsen went so far as threaten martial law- prosecute now! They continue to allow the wall street fraud and political theater doesn’t change their complicity) heat on BofA-Merrill deal Fed Tried to Cover-up Its Involvement in Bank of America-Merrill Deal U.S. Economy: Jobless Claims Rise in Sign Labor Market Stagnant Dollar drops on reserve currency doubts China sells US bonds to ’show concern’ BRICs May Buy Each Other’s Bonds in Shift From Dollar China’s holding of US bonds drops first time in 11 months Russia to Raise Reserve Currency Issue at BRIC International Demand for Worthless U.S. Assets Slowed in April IMF says worst not over `Senator cashed out during big stock collapse -- after meeting with Fed, Treasury chiefs! America's AAA downgrade danger...` Treasury faces pressure on price of TARP exit A depression so deep even teen shoppers scrimp US cities may have to be bulldozed in order to survive 1st quarter wiped out $1.3 trillion for Americans Get Ready for Inflation and Higher Interest Rates Oil prices near $73 as energy rally continues Fed Would Be Shut Down If It Were Audited Fed says economy weak, but sees signs the slide increasing Mounting deficits spark jitters about U.S. economy Wall Street falls as realities dent recovery hopes Bonds fall on worries about government's debt load (AP) Oil prices strike new high for 2009 (AP) The depression quietly deepens `CHINA AIRS FEARS ON DOLLAR, DEBT...` `Oil hits 7-month high over $70...` Yes, We’re STILL In a Depression China Bank Wants U.S. Bonds Issued in Yuan Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines `Tiny Tim says dollar assets safe...` `Laughter from audience...` Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- `GOV'T OWES RECORD $63.8 TRILLION...` The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class `Government will now own 72.5% of 'New GM'...` `Roubini: U.S. economy to dip again next year...` Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` `,` world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull st …based in large part on inflated stock price component … more bull st … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` The Next Bubble Is Here. Have You Bought In? `Here we go again! Barney Frank asks FANNIE and FREDDIE to relax Mortgage lending rules...` Fed Tried to Cover-up Its Involvement in Bank of America-Merrill Deal Dollar And Stocks Drop As China Calls For New Global Currency Citigroup Ordered to Suspend Some Operations in Japan Bernanke Grilling May Weaken Case for Fed as Risk Regulator Citi boosting salaries to offset lower bonuses, allegedly to retain the clowns who helped make them taxpayer dependant and cause the current debacle; how ‘bout firing them instead and offering opportunity to the new, particularly non-ivy league vegetable garden grads [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise [$$] Red Roof Inn Defaults on Mortgage Debt (at The Wall Street Journal Online) MySpace to cut two-thirds of global workforce GM to cut 4,000 more white-collar jobs by year end Oracle tops forecasts despite sales, profit dip; stated another way, bad news will be shilled as good news (AP) California Collapsing Bankster “Holiday” Planned for September? Recession Sparking Global Unrest Is Your Portfolio Ready for the Next Leg Down? S&P turns negative for year in broad sell-off (Reuters) Goldman Sachs on pace for record bonuses: report (Reuters) Numbers On Welfare See Sharp Increase Top Insiders Playing You For A Sucker? The death of the dollar. Who could deny it? Stanford indicted in massive U.S. fraud case which is small potatoes compared to ubiquitously massive wall street securities fraud which caused the ongoing financial debacle Venture Capital Bubble Set to Burst, Kedrosky Says Obama Plans to Cut Bank Regulators, Allow Fed to Supervise Financial Holding Companies – The old fox guarding the henhouse tricks Federal Reserve unwisely to gain power under plan Federal Reserve Foolishly To Be Given Sweeping New Powers Yen Strengthens Most in Month as Asian Stocks Drop, Gold Gains `RUSSIA CHALLENGES WORTHLESS DOLLAR...` AIG says former top exec plundered retirement plan [video] The Too-Big-to-Fail Problem [6.8 min] (at MarketWatch) [$$] Too Big to Solve? (at The Wall Street Journal Online) Buy and Hold Is Dead. Long Live Buy and Hold! Financial Bailout Plan Keeps Zombie Banks Alive Bernanke then as now in denial about looming crisis 2005-2007 Retail sales, drop in jobless claims to a very high even if believed 601,000 yielding record continuing claims of 6.8 million fuel hope…if you’re a dope Lawmakers blast Fed, Treasury for BofA "threats" Oil climbs over $73 on hopes for rising demand U.S. Household Worth Fell by $1.3 Trillion in First Quarter Predictions of $250 a barrel on oil ECB Fears Reality of Banking Crisis in 2010: Report Get Ready for Inflation and Higher Interest Rates Bill To Audit Federal Reserve Now Has 209 Co-Sponsors Russia May Swap Some U.S. Treasuries for IMF Debt Fed report shows losses on Bear Stearns, AIG holdings Congress subpoenas the Fed ... Finally! (AP) Brazil in recession, recovery unlikely this year What a “Jobless Recovery” Really Means: A Massive Redistribution of Wealth from the Little Guy to the Big Boys Obama Tells American Businesses to Drop Dead America’s Fed Addiction “87 Percent of [Chinese] Respondents Believe China’s u.s. Dollar-Assets are Unsafe” Fed Said to Retreat From Seeking Power to Sell Its Own Debt/Bills `WIRE: Obama Tells American Businesses to Drop Dead...` Long-Term Economic Memory Loss Obama’s economic model versus reality Reality bites Internet as 1Q ad sales fall 5 pct (AP) CHINA AIRS FEARS ON DOLLAR, DEBT government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls `OPEC: OIL COULD REACH $90...` ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

BEWARE OF THE SUCKER'S RALLY? ‘…Most recently, the S&P 500 soared 24 per cent over seven weeks ending in early January, only to plunge to a new low. It was a fairly typical sucker’s rally and bear markets often need more than one to create sufficient disillusionment for a definitive bottom. The 2000–2002 bear market had three, with average gains of 21 per cent in the Dow Jones Industrials over 45 days. The granddaddy of all bear markets, 1929 –1932, had six false alarms with an average gain of 47 per cent. And Japan’s ongoing bear saw the Nikkei rise by at least a third four times in its first four years with 10 more false dawns since then. Bear markets typically end with a whimper rather than a bang, casting doubt on the latest recovery according to Hussman Econometrics, which analysed numerous US market bottoms and bear market rallies. With the exception of the 1987 crash, the month before the lowest point of a downturn saw a gradual descent. By contrast, bear market rallies were preceded by steeper declines and had sharper rebounds. Another characteristic of bear market rallies has been modest volume on the rebound compared to the decline. The current recovery fits the pattern of bear market rallies in terms of volume and the “V” shape of the trough. Analysts at Bespoke Investment Group noted that there have been only seven other periods in the past 110 years with rallies of similar magnitude for the Dow. Three preceded the Great Depression, three came during the Depression and one in 1982…’
New record for continuing unemployment claims and as with all government data, adp data, etc., is fudged to whatever way necessary to help froth the market. Short-covering explaining part of what remains of this continuing suckers’ bear market rally and as admonished by analyst at Farr Miller is a bull trap. How about plain old bull crap! One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’ Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers SEC lawyers probed for insider trading GM, Chrysler to drop 1,900 dealers by end of 2010 The Financial Storm Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ “The Worst Is Yet to Come” China’s yuan ’set to usurp US dollar’ as world’s reserve currency Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy Dr. Doom: Capitalism Could Fail Like Communism New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

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 continues John 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 by Peter 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 by Peter 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 end US foreclosures up 24 percent in 1st quarter Jim Rogers Says Investors Should Expect More Bottoms Still 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 ST 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 Coverup WHAT TOTAL BULL ST! …[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 tests New 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-à-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 Feirman Wow, 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

Madman Cramer – the ultimate contrarian indicator - CRAMER'S CALL: ANOTHER RALLY TOP INDICATOR Greg Feirman Wow, 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'

China calls for new global currency (AP) Why Goldman Sachs Should Return Its TARP Money (at Seeking Alpha) Marc Faber: 'It Will All End in Disaster' Congresswoman presses Geithner on connections to Goldman Sachs Gerald Celente Predicts Economic Armageddon by 2012 Geithner Plan Will Rob US Taxpayers: Stiglitz

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: Analyst U.S. Budget Office offers darker economic and deficit outlook The 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 Dollar Kremlin 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 Books Ryan 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/fraud factor. 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. By Richard 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 surges Frank 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 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! ]

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 double Jim Rogers Sells Dollars, Plans to Short Treasuries ‘Sucker’s Rally Beginning To Unwind’ daaaah…? Calls grow to supplant dollar as global currency China officials call for displacing dollar, in time Tracking Two Depressions, 1929 and now this HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY..., personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar Dollar And Stocks Drop As China Calls For New Global Currency , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what b**l s**t!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%; U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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

PREVIOUS 7-1-09, 6-30-09, SECULAR BEAR MARKET SUCKERS’ RALLY TO END WELL OFF SESSION LOWS TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california) Consumer confidence suffers steep fall... Home prices post 18% annual drop... Worldwide Depression: Review of Global Markets . Four banks fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44 Dollar Falls Most in Month as China Urges New Reserve Currency Gerald Celente speaks on Cap and Trade and other handicaps to the US economy HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY..., personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar Dollar And Stocks Drop As China Calls For New Global Currency , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what b**l s**t!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%; U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... The Next Bubble Is Here. Have You Bought In? foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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

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

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 RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY..., personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar Dollar And Stocks Drop As China Calls For New Global Currency , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... The Next Bubble Is Here. Have You Bought In? foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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 Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... The Next Bubble Is Here. Have You Bought In? foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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 Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., 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 economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years [$$] Market Suffers Some Technical Damage ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-19-09, SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLY INTO 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 RALLY INTO 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 RALLY ON 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. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., 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 6-17-09, SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLY INTO THE CLOSE AS STOCKS END MIXED IN DEFIANCE OF REALITY TO KEEP SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING BASED ON CONTINUED BAD NEWS ( ie., rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 Markets See a Breakdown in Technical Support Levels Roubini: USA sees double-dip recession... Dollar drops on reserve currency doubts China sells US bonds to ’show concern’ BRICs May Buy Each Other’s Bonds in Shift From Dollar China’s holding of US bonds drops first time in 11 months Russia to Raise Reserve Currency Issue at BRIC International Demand for Worthless U.S. Assets Slowed in April IMF says worst not over Senator cashed out during big stock collapse -- after meeting with Fed, Treasury chiefs! America's AAA downgrade danger... Treasury faces pressure on price of TARP exit A depression so deep even teen shoppers scrimp US cities may have to be bulldozed in order to survive 1st quarter wiped out $1.3 trillion for Americans Get Ready for Inflation and Higher Interest Rates Oil prices near $73 as energy rally continues Fed Would Be Shut Down If It Were Audited Fed says economy weak, but sees signs the slide increasing Mounting deficits spark jitters about U.S. economy Wall Street falls as realities dent recovery hopes Bonds fall on worries about government's debt load (AP) Oil prices strike new high for 2009 (AP) The depression quietly deepens CHINA AIRS FEARS ON DOLLAR, DEBT... Oil hits 7-month high over $70... Yes, We’re STILL In a Depression China Bank Wants U.S. Bonds Issued in Yuan Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., 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 Venture Capital Bubble Set to Burst, Kedrosky Says Obama Plans to Cut Bank Regulators, Allow Fed to Supervise Financial Holding Companies – The old fox guarding the henhouse tricks Federal Reserve unwisely to gain power under plan Federal Reserve Foolishly To Be Given Sweeping New Powers Yen Strengthens Most in Month as Asian Stocks Drop, Gold Gains RUSSIA CHALLENGES WORTHLESS DOLLAR... AIG says former top exec plundered retirement plan [video] The Too-Big-to-Fail Problem [6.8 min] (at MarketWatch) [$$] Too Big to Solve? (at The Wall Street Journal Online) Buy and Hold Is Dead. Long Live Buy and Hold! Financial Bailout Plan Keeps Zombie Banks Alive Bernanke then as now in denial about looming crisis 2005-2007 Retail sales, drop in jobless claims to a very high even if believed 601,000 yielding record continuing claims of 6.8 million fuel hope…if you’re a dope Lawmakers blast Fed, Treasury for BofA "threats" Oil climbs over $73 on hopes for rising demand U.S. Household Worth Fell by $1.3 Trillion in First Quarter Predictions of $250 a barrel on oil ECB Fears Reality of Banking Crisis in 2010: Report Get Ready for Inflation and Higher Interest Rates Bill To Audit Federal Reserve Now Has 209 Co-Sponsors Russia May Swap Some U.S. Treasuries for IMF Debt Fed report shows losses on Bear Stearns, AIG holdings Congress subpoenas the Fed ... Finally! (AP) Brazil in recession, recovery unlikely this year What a “Jobless Recovery” Really Means: A Massive Redistribution of Wealth from the Little Guy to the Big Boys Obama Tells American Businesses to Drop Dead America’s Fed Addiction “87 Percent of [Chinese] Respondents Believe China’s u.s. Dollar-Assets are Unsafe” Fed Said to Retreat From Seeking Power to Sell Its Own Debt/Bills WIRE: Obama Tells American Businesses to Drop Dead... Long-Term Economic Memory Loss Obama’s economic model versus reality Reality bites Internet as 1Q ad sales fall 5 pct (AP) CHINA AIRS FEARS ON DOLLAR, DEBT government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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. 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 6-11,12-09, 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! ] , 300 - 1,000+ % SWING TO THE UPSIDE INTO THE CLOSE IN THIS SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLY TO KEEP SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING BASED ON CONTINUED BAD NEWS ( ie., record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 Treasury faces pressure on price of TARP exit A depression so deep even teen shoppers scrimp US cities may have to be bulldozed in order to survive 1st quarter wiped out $1.3 trillion for Americans Get Ready for Inflation and Higher Interest Rates Oil prices near $73 as energy rally continues Fed Would Be Shut Down If It Were Audited Fed says economy weak, but sees signs the slide increasing Mounting deficits spark jitters about U.S. economy Wall Street falls as realities dent recovery hopes Bonds fall on worries about government's debt load (AP) Oil prices strike new high for 2009 (AP) The depression quietly deepens CHINA AIRS FEARS ON DOLLAR, DEBT... Oil hits 7-month high over $70... Yes, We’re STILL In a Depression China Bank Wants U.S. Bonds Issued in Yuan Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., 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 Venture Capital Bubble Set to Burst, Kedrosky Says Buy and Hold Is Dead. Long Live Buy and Hold! Financial Bailout Plan Keeps Zombie Banks Alive Bernanke then as now in denial about looming crisis 2005-2007 Retail sales, drop in jobless claims to a very high even if believed 601,000 yielding record continuing claims of 6.8 million fuel hope…if you’re a dope Lawmakers blast Fed, Treasury for BofA "threats" Oil climbs over $73 on hopes for rising demand U.S. Household Worth Fell by $1.3 Trillion in First Quarter Predictions of $250 a barrel on oil ECB Fears Reality of Banking Crisis in 2010: Report Get Ready for Inflation and Higher Interest Rates Bill To Audit Federal Reserve Now Has 209 Co-Sponsors Russia May Swap Some U.S. Treasuries for IMF Debt Fed report shows losses on Bear Stearns, AIG holdings Congress subpoenas the Fed ... Finally! (AP) Brazil in recession, recovery unlikely this year What a “Jobless Recovery” Really Means: A Massive Redistribution of Wealth from the Little Guy to the Big Boys Obama Tells American Businesses to Drop Dead America’s Fed Addiction “87 Percent of [Chinese] Respondents Believe China’s u.s. Dollar-Assets are Unsafe” Fed Said to Retreat From Seeking Power to Sell Its Own Debt/Bills WIRE: Obama Tells American Businesses to Drop Dead... Long-Term Economic Memory Loss Obama’s economic model versus reality Reality bites Internet as 1Q ad sales fall 5 pct (AP) CHINA AIRS FEARS ON DOLLAR, DEBT government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-10-09, MODEST LOSSES WITH SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING BASED ON CONTINUED BAD NEWS ( ie., budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 Fed Would Be Shut Down If It Were Audited Fed says economy weak, but sees signs the slide increasing Mounting deficits spark jitters about U.S. economy Wall Street falls as realities dent recovery hopes Bonds fall on worries about government's debt load (AP) Oil prices strike new high for 2009 (AP) The depression quietly deepens CHINA AIRS FEARS ON DOLLAR, DEBT... Oil hits 7-month high over $70... Yes, We’re STILL In a Depression China Bank Wants U.S. Bonds Issued in Yuan Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., 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 Get Ready for Inflation and Higher Interest Rates Bill To Audit Federal Reserve Now Has 209 Co-Sponsors Russia May Swap Some U.S. Treasuries for IMF Debt Fed report shows losses on Bear Stearns, AIG holdings Congress subpoenas the Fed ... Finally! (AP) Brazil in recession, recovery unlikely this year What a “Jobless Recovery” Really Means: A Massive Redistribution of Wealth from the Little Guy to the Big Boys Obama Tells American Businesses to Drop Dead America’s Fed Addiction “87 Percent of [Chinese] Respondents Believe China’s u.s. Dollar-Assets are Unsafe” Fed Said to Retreat From Seeking Power to Sell Its Own Debt/Bills WIRE: Obama Tells American Businesses to Drop Dead... Long-Term Economic Memory Loss Obama’s economic model versus reality Reality bites Internet as 1Q ad sales fall 5 pct (AP) CHINA AIRS FEARS ON DOLLAR, DEBT government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-8,9-09, INFLATIONARY DEPRESSION IS THE CALL EVEN AS SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLY CONTINUES TO KEEP SUCKERS SUCKERED AND COMMISSION DOLLARS FLOWING BASED ON CONTINUED BAD NEWS ( 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. assets The depression quietly deepens CHINA AIRS FEARS ON DOLLAR, DEBT... Oil hits 7-month high over $70... Yes, We’re STILL In a Depression China Bank Wants U.S. Bonds Issued in Yuan Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., 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 Congress subpoenas the Fed ... Finally! (AP) Brazil in recession, recovery unlikely this year What a “Jobless Recovery” Really Means: A Massive Redistribution of Wealth from the Little Guy to the Big Boys Obama Tells American Businesses to Drop Dead America’s Fed Addiction “87 Percent of [Chinese] Respondents Believe China’s u.s. Dollar-Assets are Unsafe” Fed Said to Retreat From Seeking Power to Sell Its Own Debt/Bills WIRE: Obama Tells American Businesses to Drop Dead... Long-Term Economic Memory Loss Obama’s economic model versus reality Reality bites Internet as 1Q ad sales fall 5 pct (AP) CHINA AIRS FEARS ON DOLLAR, DEBT government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-5-09, SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS ( ie., Yes, We’re STILL In a Depression China Bank Wants U.S. Bonds Issued in Yuan Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., Long-Term Economic Memory Loss Obama’s economic model versus reality Reality bites Internet as 1Q ad sales fall 5 pct (AP) CHINA AIRS FEARS ON DOLLAR, DEBT government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-5-09, FAKE GOVERNMENT JOBS REPORT FUELS SECULAR BEAR MARKET PROGRAMMED SUCKERS RALLY TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS ( ie., Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-4-09, SHORT-COVERING/SUCKERS RALLY TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS ( ie., US retailers report May sales declines Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., government reports slightly better than private estimates…riiiiight! Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-3-09, ONLY MODEST LOSSES RELATIVE TO REALITY WITH PROGRAMMED SHORT-COVERING/SUCKERS RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS ( ie., mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 6-1-09, MORE CAN’T BE SAID, SO PREPOSTEROUS WAS THIS TYPICALLY FAKE BETTER THAN EXPECTED (RIIIIIGHT!) COMMERCE DEPARTMENT DATA SUCKERS’ RALLY TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS ( ie., `GOV'T OWES RECORD $63.8 TRILLION...` Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class `Government will now own 72.5% of 'New GM'...` `Roubini: U.S. economy to dip again next year...` Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Most U.S. retailers likely saw sales fall in May GM files for bankruptcy, urges quick action GM: A Mighty Icon Files for Bankruptcy Dow gets shake-up as GM, Citi kicked out of average GM removed from S&P 500 index (AP) Stocks Will Fall 37% and Gold Will Rally % Even in Crisis, Banks Dig In for Fight Against Rules New York Times | The nine biggest participants in the derivatives market — including JPMorgan Chase, Goldman Sachs, Citigroup and Bank of America — created a lobbying organization, the CDS Dealers Consortium, a month after five of its members accepted federal bailout money. Zoellick Warns Stimulus ‘Sugar High’ Won’t Stem Unemployment Bloomberg | World Bank President Robert Zoellick warned policy makers that fiscal-stimulus plans are insufficient to turn around the “real economy”

PROGRAMMED TRADES/SUCKERS’ HIGH OIL/LOW DOLLAR (RIIIIIGHT!) RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON BAD NEWS ( ie., GOV'T OWES RECORD $63.8 TRILLION... Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 5-29-09, PROGRAMMED TRADES/SUCKERS’ HIGH OIL/LOW DOLLAR (RIIIIIGHT!) RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON BAD NEWS ( ie., GOV'T OWES RECORD $63.8 TRILLION... Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS 5-28-09, SUCKERS’ RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON BAD NEWS ( ie., Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class Government will now own 72.5% of 'New GM'... Roubini: U.S. economy to dip again next year... Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Foreclosure woes mount for those with good credit Fed Finds a Way to Use Stress Tests to Screw Bank Shareholders One More Time (at Seeking Alpha) Time Warner to spin off AOL, ending ill-fated deal [$$] Listen, But Don't Get Suckered Faber: Inflation to 'Approach Zimbabwe Level'... U.S. Weighs Single Agency to Regulate Banking Industry Yet Ignores Existing Laws, Prosecution, and Disgorgement in this Huge Fraud…Why

PREVIOUS 5-27-09, MODEST LOSSES RELATIVE TO REALITY TO KEEP SUCKERS SUCKERED BASED ON BAD NEWS ( ie., Double-Dip Depression Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that? Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP) GM borrows $4 billion more, prepares for bankruptcy Job losses up in 44 states as recession drags on Florida's BankUnited fails, will cost FDIC $4.9B (AP) Regulators seize 34th bank failure of year Florida's BankUnited FSB (AP) , 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., Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down Treasury Selloff Spiking Interest Rates GM bankruptcy seen near GM all but certain to file for Chapter 11 US Government to Take Up 70% Stake in GM FDIC Fund Running Dry Yahoo Finance | As the FDIC has had to step in to take over more and more insolvent banks, the fund has dwindled to dangerously low levels. At the same time, the number of problem banks continues to grow at a rapid pace. IRS tax revenue falls along with taxpayers’ income USA Today | Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981. ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers SEC lawyers probed for insider trading GM, Chrysler to drop 1,900 dealers by end of 2010 The Financial Storm Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ “The Worst Is Yet to Come” China’s yuan ’set to usurp US dollar’ as world’s reserve currency Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy Dr. Doom: Capitalism Could Fail Like Communism New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-26-09, suckers’ rally to keep suckers suckered based on bad news ( ie., Case-Shillers index shows new record decline in real estate prices, Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that? Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP) GM borrows $4 billion more, prepares for bankruptcy Job losses up in 44 states as recession drags on Florida's BankUnited fails, will cost FDIC $4.9B (AP) Regulators seize 34th bank failure of year Florida's BankUnited FSB (AP) , 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., fake consumer confidence reading 30+% better than private estimate sucker-rallies stocks , Current Recession Is Tracking the 1930s Bear Market , Another Bottom for Stocks Coming: Rogers (at CNBC) , The Sleepwalkers' Rally , Rogers Echoes Warning Of “Sucker’s Rally” , don’t forget that the suckers rally stock prices accounted for the very modest but ephemeral uptick in leading indicators Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars ) , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-22-09, only very modest losses relative to reality based on bad news ( ie., Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that? Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP) GM borrows $4 billion more, prepares for bankruptcy Job losses up in 44 states as recession drags on Florida's BankUnited fails, will cost FDIC $4.9B (AP) Regulators seize 34th bank failure of year Florida's BankUnited FSB (AP) , 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 (Current Recession Is Tracking the 1930s Bear Market , Another Bottom for Stocks Coming: Rogers (at CNBC) , The Sleepwalkers' Rally , Rogers Echoes Warning Of “Sucker’s Rally” , don’t forget that the suckers rally stock prices accounted for the very modest but ephemeral uptick in leading indicators ) , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP) GM borrows $4 billion more, prepares for bankruptcy Job losses up in 44 states as recession drags on Bill to Audit Fed Wisely Gains Serious Momentum U.S. to Steer GM Toward Bankruptcy Gold tops $960 for first time in two months as dollar weakens South Afica gold coin demand hits all time high Peter Schiff called “Extremist” by Time Magazine Geithner Vows to Cut U.S. Deficit on Rating Concern…riiiiight!…con Gold Poised for Third Weekly Gain as Dollar Slumps Against Euro SEC lawyers probed for insider trading GM, Chrysler to drop 1,900 dealers by end of 2010 The Financial Storm Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ “The Worst Is Yet to Come” China’s yuan ’set to usurp US dollar’ as world’s reserve currency Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy Dr. Doom: Capitalism Could Fail Like Communism New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-21-09, only modest losses relative to reality as rally into the close keeps suckers suckered based on bad news ( ie., Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro Florida's BankUnited fails, will cost FDIC $4.9B (AP) Regulators seize 34th bank failure of year Florida's BankUnited FSB (AP) , 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 (Current Recession Is Tracking the 1930s Bear Market , Another Bottom for Stocks Coming: Rogers (at CNBC) , The Sleepwalkers' Rally , Rogers Echoes Warning Of “Sucker’s Rally” , don’t forget that the suckers rally stock prices accounted for the very modest but ephemeral uptick in leading indicators ) , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that? GMAC receives $7.5 billion in new Treasury aid (AP) Dollar hits '09 low on rating fears; stocks dip (Reuters) U.K. to Lose AAA Rating at S&P as Finances Weaken U.S. Stocks Decline on Jobless Claims, greenspan, who helped create the debacle and should thereby know, Warning Gold May Test $1,200 (5-20) The Weimar Hyperinflation is Happening Again! With fed printing/creating like mad, what did they expect? Rogers Echoes Warning Of “Sucker’s Rally” Green Shoots: Too Small, Too Far Apart The Sleepwalkers' Rally Former head of pension agency takes the Fifth (AP) Global stocks slip, dollar tumbles after downbeat Fed Depression hits already defacto bankrupt Social Security hard Gold purchases up 36% as investors look to preserve wealth China Gold Reserves May Back Yuan Internationalization-Report 22 reasons why OBAMA will raise your taxes Federal debt is now $11.5 trillion. Add $1.4 trillion this year. That’s almost 100% of GDP. (5-19) Deficit surges at agency that insures pensions (AP) China and Brazil Plan to Dump Dollar HP's profit drops, more layoffs looming Japan logs record GDP drop Senator: More oversight needed at insolvent pension agency (AP) Inflating Our Way Out of This Mess? Why This Won't Work Japan's economy in record plunge Jim Rogers: Obama will Devastate the Economy This Economy Ain't Healed Yet (at Seeking Alpha) (5-18) Suckers’ rally (The Suckers Rally, Japan Style …high oil price rally…riiiiight! ) Bilderberg 2009 Attendee List (revised) Meanwhile: The Bilderbergers are advancing in Norway [ I realize that jones (who parenthetically it should be noted, hypocritically censored my comments) et als really overdoes this group’s (among others) effect on the u.s. , state of the world, etc.; truth be told, this group like most of the interest/pressure groups including the masses, in the u.s., etc., are no more than a just a bunch of f**k-ups/vegetables who like the aforementioned multitudes have really ‘mucked things up’ (for lack of a more precise yet concise term) on this planet, probably irrevocably, and like the many home-grown f**k-ups/vegetables, and in america particularly criminals, jones refuses to acknowledge as culpable for the many reasons he refuses to see, are but rather typically incompetent players contributing in there own very special eccentric, neurotic, sick, venal, corrupt, etc., way to this collective and cumulative result being this ever deflating (declining) ball of chaos /confusion /criminality called earth (there are exceptions to the foregoing, but in america, the same would be 5% or less) ]. Economy limiting services of local police Madoff Investors Probed by U.S. Prosecutors yet still not even one prosecution of the perpetrators of the largest scam/fraud in history foisted off on/funded by taxpayers Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-20-09, only modest losses relative to reality based on bad news ( ie., fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) and bull s**t alone (Current Recession Is Tracking the 1930s Bear Market , Another Bottom for Stocks Coming: Rogers (at CNBC) , The Sleepwalkers' Rally , Rogers Echoes Warning Of “Sucker’s Rally” ) , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! The Weimar Hyperinflation is Happening Again! With fed printing/creating like mad, what did they expect? Rogers Echoes Warning Of “Sucker’s Rally” Green Shoots: Too Small, Too Far Apart The Sleepwalkers' Rally Former head of pension agency takes the Fifth (AP) Global stocks slip, dollar tumbles after downbeat Fed Depression hits already defacto bankrupt Social Security hard Gold purchases up 36% as investors look to preserve wealth China Gold Reserves May Back Yuan Internationalization-Report 22 reasons why OBAMA will raise your taxes Federal debt is now $11.5 trillion. Add $1.4 trillion this year. That’s almost 100% of GDP. (5-19) Deficit surges at agency that insures pensions (AP) China and Brazil Plan to Dump Dollar HP's profit drops, more layoffs looming Japan logs record GDP drop Senator: More oversight needed at insolvent pension agency (AP) Inflating Our Way Out of This Mess? Why This Won't Work Japan's economy in record plunge Jim Rogers: Obama will Devastate the Economy This Economy Ain't Healed Yet (at Seeking Alpha) (5-18) Suckers’ rally (The Suckers Rally, Japan Style …high oil price rally…riiiiight! ) Bilderberg 2009 Attendee List (revised) Meanwhile: The Bilderbergers are advancing in Norway [ I realize that jones (who parenthetically it should be noted, hypocritically censored my comments) et als really overdoes this group’s (among others) effect on the u.s. , state of the world, etc.; truth be told, this group like most of the interest/pressure groups including the masses, in the u.s., etc., are no more than a just a bunch of f**k-ups/vegetables who like the aforementioned multitudes have really ‘mucked things up’ (for lack of a more precise yet concise term) on this planet, probably irrevocably, and like the many home-grown f**k-ups/vegetables, and in america particularly criminals, jones refuses to acknowledge as culpable for the many reasons he refuses to see, are but rather typically incompetent players contributing in there own very special eccentric, neurotic, sick, venal, corrupt, etc., way to this collective and cumulative result being this ever deflating (declining) ball of chaos /confusion /criminality called earth (there are exceptions to the foregoing, but in america, the same would be 5% or less) ]. Economy limiting services of local police Madoff Investors Probed by U.S. Prosecutors yet still not even one prosecution of the perpetrators of the largest scam/fraud in history foisted off on/funded by taxpayers Rep. Paul’s bill to audit Federal Reserve nets 165 co-sponsors is the first of what should be many necessary wise moves American Capitalism Gone With a Whimper The Shrinking American Consumer The Suckers Rally, Japan Style Gold likely to test $950 level this week Blue collar males lose more ground; unemployment rate surges past national average...

PREVIOUS 5-19-09, only modest losses relative to reality based on bad news ( ie., record low for new housing starts, etc.) and bull s**t alone (Current Recession Is Tracking the 1930s Bear Market , Another Bottom for Stocks Coming: Rogers (at CNBC) ) , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Deficit surges at agency that insures pensions (AP) China and Brazil Plan to Dump Dollar HP's profit drops, more layoffs looming Japan logs record GDP drop Senator: More oversight needed at insolvent pension agency (AP) Inflating Our Way Out of This Mess? Why This Won't Work Japan's economy in record plunge Jim Rogers: Obama will Devastate the Economy This Economy Ain't Healed Yet (at Seeking Alpha) (5-18) Suckers’ rally (The Suckers Rally, Japan Style …high oil price rally…riiiiight! ) Bilderberg 2009 Attendee List (revised) Meanwhile: The Bilderbergers are advancing in Norway [ I realize that jones (who parenthetically it should be noted, hypocritically censored my comments) et als really overdoes this group’s (among others) effect on the u.s. , state of the world, etc.; truth be told, this group like most of the interest/pressure groups including the masses, in the u.s., etc., are no more than a just a bunch of f**k-ups/vegetables who like the aforementioned multitudes have really ‘mucked things up’ (for lack of a more precise yet concise term) on this planet, probably irrevocably, and like the many home-grown f**k-ups/vegetables, and in america particularly criminals, jones refuses to acknowledge as culpable for the many reasons he refuses to see, are but rather typically incompetent players contributing in there own very special eccentric, neurotic, sick, venal, corrupt, etc., way to this collective and cumulative result being this ever deflating (declining) ball of chaos /confusion /criminality called earth (there are exceptions to the foregoing, but in america, the same would be 5% or less) ]. Economy limiting services of local police Madoff Investors Probed by U.S. Prosecutors yet still not even one prosecution of the perpetrators of the largest scam/fraud in history foisted off on/funded by taxpayers Rep. Paul’s bill to audit Federal Reserve nets 165 co-sponsors is the first of what should be many necessary wise moves American Capitalism Gone With a Whimper The Shrinking American Consumer The Suckers Rally, Japan Style Gold likely to test $950 level this week New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-18-09, suckers’ rally (The Suckers Rally, Japan Style …high oil price rally…riiiiight! ) accelerates into the close based on bad news and bull s**t alone (Current Recession Is Tracking the 1930s Bear Market ) , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! American Capitalism Gone With a Whimper The Shrinking American Consumer The Suckers Rally, Japan Style Bilderberg 2009 Attendee List (revised) Meanwhile: The Bilderbergers are advancing in Norway [ I realize that jones (who parenthetically it should be noted, hypocritically censored my comments) et als really overdoes this group’s (among others) effect on the u.s. , state of the world, etc.; truth be told, this group like most of the interest/pressure groups including the masses, in the u.s., etc., are no more than a just a bunch of f**k-ups/vegetables who like the aforementioned multitudes have really ‘mucked things up’ (for lack of a more precise yet concise term) on this planet, probably irrevocably, and like the many home-grown f**k-ups/vegetables, and in america particularly criminals, jones refuses to acknowledge as culpable for the many reasons he refuses to see, are but rather typically incompetent players contributing in there own very special eccentric, neurotic, sick, venal, corrupt, etc., way to this collective and cumulative result being this ever deflating (declining) ball of chaos /confusion /criminality called earth (there are exceptions to the foregoing, but in america, the same would be 5% or less) ]. Economy limiting services of local police Madoff Investors Probed by U.S. Prosecutors yet still not even one prosecution of the perpetrators of the largest scam/fraud in history foisted off on/funded by taxpayers Rep. Paul’s bill to audit Federal Reserve nets 165 co-sponsors is the first of what should be many necessary wise moves Gold likely to test $950 level this week Blue collar males lose more ground; unemployment rate surges past national average... (5-15)Highest credit card default rates in 26 years at 10+%, the real economy in terms of unemployment, income, and debt far worse than their rosy ‘green shoots’ scenario to help froth the market. Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers “The Worst Is Yet to Come” Yahoo Finance | “If the consumer isn’t petrified, he or she is a damn fool.” (5-14)All news worse than expected, ie., weekly job losses higher than expected 637,000, wholesale inflation rate .3%, BEAR ALARM US ’sham’ bank bail-outs enrich speculators , The Secrets of the Federal Reserve Bob Chapman | A manmade disaster created by the Federal Reserve, banking and Wall Street, and these are the same corrupt group who our government has chosen to rectify the problem. The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable etc., It’s worth noting in a Wall Street Journal editorial hedge fund manager Andy Kessler said in no uncertain terms, “this sure smells to me a suckers rally,” largely because “there aren't sustainable, fundamental reasons for the market's continued rise.” I’m skeptical about this rally, reveals analyst Guy Adami. Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers SEC lawyers probed for insider trading GM, Chrysler to drop 1,900 dealers by end of 2010 The Financial Storm Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ “The Worst Is Yet to Come” China’s yuan ’set to usurp US dollar’ as world’s reserve currency Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy Dr. Doom: Capitalism Could Fail Like Communism New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-15-09, only modest losses relative to reality as this suckers’ rally has been based on bad news and bull s**t alone, ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Highest credit card default rates in 26 years at 10+%, the real economy in terms of unemployment, income, and debt far worse than their rosy ‘green shoots’ scenario to help froth the market. Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers “The Worst Is Yet to Come” Yahoo Finance | “If the consumer isn’t petrified, he or she is a damn fool.” (5-14)All news worse than expected, ie., weekly job losses higher than expected 637,000, wholesale inflation rate .3%, BEAR ALARM US ’sham’ bank bail-outs enrich speculators , The Secrets of the Federal Reserve Bob Chapman | A manmade disaster created by the Federal Reserve, banking and Wall Street, and these are the same corrupt group who our government has chosen to rectify the problem. The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable etc., It’s worth noting in a Wall Street Journal editorial hedge fund manager Andy Kessler said in no uncertain terms, “this sure smells to me a suckers rally,” largely because “there aren't sustainable, fundamental reasons for the market's continued rise.” I’m skeptical about this rally, reveals analyst Guy Adami. U.S. Economy: Retail Sales Unexpectedly Fall for Second Month GM, Chrysler to cut up to 3,000 dealers: sources (Reuters) U.S. Foreclosure Filings Hit Record for Second Straight Month Is Anyone Minding the Store at the Federal Reserve? Unemployment up to 8.9%, The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc.. America is broke. How broke? NSN Money | Government obligations for Social Security and Medicare may soon exceed the combined net worth of every household and nonprofit organization in the country. "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers SEC lawyers probed for insider trading GM, Chrysler to drop 1,900 dealers by end of 2010 The Financial Storm Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ “The Worst Is Yet to Come” China’s yuan ’set to usurp US dollar’ as world’s reserve currency Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy Dr. Doom: Capitalism Could Fail Like Communism New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-14-09, suckers’ rally has been based on bad news and bull s**t alone, ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Highest credit card default rates in 26 years at 10+%, the real economy in terms of unemployment, income, and debt far worse than their rosy ‘green shoots’ scenario to help froth the market. Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers “The Worst Is Yet to Come” Yahoo Finance | “If the consumer isn’t petrified, he or she is a damn fool.” (5-14)All news worse than expected, ie., weekly job losses higher than expected 637,000, wholesale inflation rate .3%, BEAR ALARM US ’sham’ bank bail-outs enrich speculators , The Secrets of the Federal Reserve Bob Chapman | A manmade disaster created by the Federal Reserve, banking and Wall Street, and these are the same corrupt group who our government has chosen to rectify the problem. The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable etc., It’s worth noting in a Wall Street Journal editorial hedge fund manager Andy Kessler said in no uncertain terms, “this sure smells to me a suckers rally,” largely because “there aren't sustainable, fundamental reasons for the market's continued rise.” I’m skeptical about this rally, reveals analyst Guy Adami. U.S. Economy: Retail Sales Unexpectedly Fall for Second Month GM, Chrysler to cut up to 3,000 dealers: sources (Reuters) U.S. Foreclosure Filings Hit Record for Second Straight Month Is Anyone Minding the Store at the Federal Reserve? Unemployment up to 8.9%, The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc.. America is broke. How broke? NSN Money | Government obligations for Social Security and Medicare may soon exceed the combined net worth of every household and nonprofit organization in the country Oil jumps above $60 on weak US currency U.S. Trade Deficit Widens First Time in Eight Months U.S. Federal Deficit to Worsen due to Dismal Economic Projections Median home prices fall in 88 percent of cities Freddie Mac seeks $6.1B in US aid after 1Q loss Higher Taxes Coming, Just Like Obama Promised New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-13-09, modest losses relative to reality, ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! It’s worth noting in a Wall Street Journal editorial hedge fund manager Andy Kessler said in no uncertain terms, “this sure smells to me a suckers rally,” largely because “there aren't sustainable, fundamental reasons for the market's continued rise.” I’m skeptical about this rally, reveals analyst Guy Adami. U.S. Economy: Retail Sales Unexpectedly Fall for Second Month GM, Chrysler to cut up to 3,000 dealers: sources (Reuters) U.S. Foreclosure Filings Hit Record for Second Straight Month Is Anyone Minding the Store at the Federal Reserve? Unemployment up to 8.9%, The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc.. America is broke. How broke? NSN Money | Government obligations for Social Security and Medicare may soon exceed the combined net worth of every household and nonprofit organization in the country. Everyone is familiar with the old saying, "what goes up must come down." Certainly the stock market has mounted a serious challenge to this old saying since bouncing off its lows in March and continues to defy gravity…In the face of unrelenting bad news, the market has been climbing because the news is "less bad," Gentle Ben and his Merry Band of Feds see "green shoots" and the financial press continues an unrelenting mantra of "recovery lies just ahead." It seems like the markets will never stop climbing, but they will, because contrary to what you hear on CNBC and read in the financial press, the laws of gravity have not been repealed and it's still true that "what goes up, must come down."

Oil jumps above $60 on weak US currency U.S. Trade Deficit Widens First Time in Eight Months U.S. Federal Deficit to Worsen due to Dismal Economic Projections Median home prices fall in 88 percent of cities Freddie Mac seeks $6.1B in US aid after 1Q loss Higher Taxes Coming, Just Like Obama Promised New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-12-09, It’s worth noting in a Wall Street Journal editorial hedge fund manager Andy Kessler said in no uncertain terms, “this sure smells to me a suckers rally,” largely because “there aren't sustainable, fundamental reasons for the market's continued rise.” I’m skeptical about this rally, reveals analyst Guy Adami. ‘SELL IN MAY AND GO AWAY’ so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Unemployment up to 8.9%, The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc.. Everyone is familiar with the old saying, "what goes up must come down." Certainly the stock market has mounted a serious challenge to this old saying since bouncing off its lows in March and continues to defy gravity…In the face of unrelenting bad news, the market has been climbing because the news is "less bad," Gentle Ben and his Merry Band of Feds see "green shoots" and the financial press continues an unrelenting mantra of "recovery lies just ahead." It seems like the markets will never stop climbing, but they will, because contrary to what you hear on CNBC and read in the financial press, the laws of gravity have not been repealed and it's still true that "what goes up, must come down."

BEWARE OF THE SUCKER'S RALLY? ‘…Most recently, the S&P 500 soared 24 per cent over seven weeks ending in early January, only to plunge to a new low. It was a fairly typical sucker’s rally and bear markets often need more than one to create sufficient disillusionment for a definitive bottom. The 2000–2002 bear market had three, with average gains of 21 per cent in the Dow Jones Industrials over 45 days. The granddaddy of all bear markets, 1929 –1932, had six false alarms with an average gain of 47 per cent. And Japan’s ongoing bear saw the Nikkei rise by at least a third four times in its first four years with 10 more false dawns since then. Bear markets typically end with a whimper rather than a bang, casting doubt on the latest recovery according to Hussman Econometrics, which analysed numerous US market bottoms and bear market rallies. With the exception of the 1987 crash, the month before the lowest point of a downturn saw a gradual descent. By contrast, bear market rallies were preceded by steeper declines and had sharper rebounds. Another characteristic of bear market rallies has been modest volume on the rebound compared to the decline. The current recovery fits the pattern of bear market rallies in terms of volume and the “V” shape of the trough. Analysts at Bespoke Investment Group noted that there have been only seven other periods in the past 110 years with rallies of similar magnitude for the Dow. Three preceded the Great Depression, three came during the Depression and one in 1982…’
New record for continuing unemployment claims and as with all government data, adp data, etc., is fudged to whatever way necessary to help froth the market. Short-covering explaining part of what remains of this continuing suckers’ bear market rally and as admonished by analyst at Farr Miller is a bull trap. How about plain old bull crap! One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’ Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through Oil jumps above $60 on weak US currency U.S. Trade Deficit Widens First Time in Eight Months U.S. Federal Deficit to Worsen due to Dismal Economic Projections Median home prices fall in 88 percent of cities Freddie Mac seeks $6.1B in US aid after 1Q loss Higher Taxes Coming, Just Like Obama Promised New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-11-09, only modest losses relative to reality, ‘SELL IN MAY AND GO AWAY’ so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Unemployment up to 8.9%, The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc.. Everyone is familiar with the old saying, "what goes up must come down." Certainly the stock market has mounted a serious challenge to this old saying since bouncing off its lows in March and continues to defy gravity…In the face of unrelenting bad news, the market has been climbing because the news is "less bad," Gentle Ben and his Merry Band of Feds see "green shoots" and the financial press continues an unrelenting mantra of "recovery lies just ahead." It seems like the markets will never stop climbing, but they will, because contrary to what you hear on CNBC and read in the financial press, the laws of gravity have not been repealed and it's still true that "what goes up, must come down."

BEWARE OF THE SUCKER'S RALLY? ‘…Most recently, the S&P 500 soared 24 per cent over seven weeks ending in early January, only to plunge to a new low. It was a fairly typical sucker’s rally and bear markets often need more than one to create sufficient disillusionment for a definitive bottom. The 2000–2002 bear market had three, with average gains of 21 per cent in the Dow Jones Industrials over 45 days. The granddaddy of all bear markets, 1929 –1932, had six false alarms with an average gain of 47 per cent. And Japan’s ongoing bear saw the Nikkei rise by at least a third four times in its first four years with 10 more false dawns since then. Bear markets typically end with a whimper rather than a bang, casting doubt on the latest recovery according to Hussman Econometrics, which analysed numerous US market bottoms and bear market rallies. With the exception of the 1987 crash, the month before the lowest point of a downturn saw a gradual descent. By contrast, bear market rallies were preceded by steeper declines and had sharper rebounds. Another characteristic of bear market rallies has been modest volume on the rebound compared to the decline. The current recovery fits the pattern of bear market rallies in terms of volume and the “V” shape of the trough. Analysts at Bespoke Investment Group noted that there have been only seven other periods in the past 110 years with rallies of similar magnitude for the Dow. Three preceded the Great Depression, three came during the Depression and one in 1982…’
New record for continuing unemployment claims and as with all government data, adp data, etc., is fudged to whatever way necessary to help froth the market. Short-covering explaining part of what remains of this continuing suckers’ bear market rally and as admonished by analyst at Farr Miller is a bull trap. How about plain old bull crap! One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’ Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-8-09, the flaming full moon and effect on lunatic wall street frauds and bull s**t alone (false data, not as bad as expected…riiiiight!…, etc.) irrationally exuberantly rally stocks so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Unemployment up to 8.9%, US unemployment hits 25-year high China fears bond crisis as it slams quantitative easing The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc.. BEWARE OF THE SUCKER'S RALLY? ‘…Most recently, the S&P 500 soared 24 per cent over seven weeks ending in early January, only to plunge to a new low. It was a fairly typical sucker’s rally and bear markets often need more than one to create sufficient disillusionment for a definitive bottom. The 2000–2002 bear market had three, with average gains of 21 per cent in the Dow Jones Industrials over 45 days. The granddaddy of all bear markets, 1929 –1932, had six false alarms with an average gain of 47 per cent. And Japan’s ongoing bear saw the Nikkei rise by at least a third four times in its first four years with 10 more false dawns since then. Bear markets typically end with a whimper rather than a bang, casting doubt on the latest recovery according to Hussman Econometrics, which analysed numerous US market bottoms and bear market rallies. With the exception of the 1987 crash, the month before the lowest point of a downturn saw a gradual descent. By contrast, bear market rallies were preceded by steeper declines and had sharper rebounds. Another characteristic of bear market rallies has been modest volume on the rebound compared to the decline. The current recovery fits the pattern of bear market rallies in terms of volume and the “V” shape of the trough. Analysts at Bespoke Investment Group noted that there have been only seven other periods in the past 110 years with rallies of similar magnitude for the Dow. Three preceded the Great Depression, three came during the Depression and one in 1982…’
New record for continuing unemployment claims and as with all government data, adp data, etc., is fudged to whatever way necessary to help froth the market. Short-covering explaining part of what remains of this continuing suckers’ bear market rally and as admonished by analyst at Farr Miller is a bull trap. How about plain old bull crap! One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’ Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through [$$] Banks Won Concessions on Tests (at The Wall Street Journal Online) [$$] Hit by Mortgage Defaults, Fannie Needs $19 Billion (at The Wall Street Journal Online) [$$] Bank Shares Range-Bound Near Term (at Barron's Online) AP Sources: Obama wants Fed to be finance supercop which is one of the dumber things I’ve ever heard (very bushy) since the fed is the super criminal, capo, godfather, etc., in the criminal enterprise called american finance/scam the taxpayer/etc., in this fraud of monumental proportion … the bubble will again pop Fannie Mae seeks $19B in US aid after 1Q loss Buffett's Berkshire has first loss since 2001 Fed Sees Up to $599 Billion in Bank Losses Is Rupert Murdoch losing it? Already past tense; he’s lost it…so…..? EU Calls for “Internet G12″ for Global Internet Governance US unemployment hits 25-year high China fears bond crisis as it slams quantitative easing The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-7-09, yes, there is a flaming full moon which explains in large part only modest losses relative to reality by the lunatic frauds on wall street so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! New record for continuing unemployment claims and as with all government data, adp data, etc., is fudged to whatever way necessary to help froth the market. Short-covering explaining part of what remains of this continuing suckers’ bear market rally and as admonished by analyst at Farr Miller is a bull trap. How about plain old bull crap! One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’ Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through U.S. banks race to fill $74.6 billion stress test hole NY Fed chair resigns amid stock purchase questions and while they’re at it ask him and tiny tim geithner about the missing $4 trillion at the N.Y. fed bank among other things BofA needs $33.9 billion, eyes stock and asset sales Cyberbullying Bill Not About Protecting Kids, It is About Shutting Down the Opposition Rupert Murdoch: “Internet Will Soon Be Over – in his wet dreams along with presidents hillary, rudy, and mccain – must be ancestral flashbacks to the penal colony days in australia” Taking on the banking cabal Looking Back on the Greatest Depression 401(k)s Hit by Withdrawal Freezes Taleb: Global Crisis “Vastly Worse” Than 1930s, Buy Gold and Copper Dollar Hovering at Cliff’s Edge Group names 25 lenders responsible for economic meltdown $58: Oil prices jump to new six-month high... GM posts $6 billion loss for first quarter... Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

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 optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through BofA, Citi, Wells need capital under stress tests NEED BILLIONS AND BILLIONS MORE Bank stress tests show some banks need more funds Almost a Quarter of U.S. Homeowners Are Underwater Banks Need Billions More Globalizing the Internet Hedge 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 NPT Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-5-09, So small were the losses relative to reality that to try and make sense of same (americans among other investors must love getting burned by the frauds on wall street who are commissioning the new bubble like mad and don’t worry since in america today they socialize their losses and privatize their gains) is but a fool’s errand so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’ Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through Bank of America to need $34 billion in capital: source Yen rises, stocks slip on Bank of America needs Moody's downgrades NYSE Euronext debt (AP) Auditors see SEC deficiencies Stress Test Results Seem to Be Changing Daily (at Seeking Alpha) We Haven't Reached the Bottom Yet About that “loan”: Obama team writes off $7 billion taxpayers loaned Chrysler US Fed rejects request to help credit card holders Fed Stress Tests to Show About 10 Banks Need Capital Gold Climbs to One-Week High as Dollar Declines; Platinum Gains Editorial: Bleak forecast for EU economies Michigan residents mine bodies for cash; Sellers offer hair, blood... GM plans 1-for-100 reverse stock split... The Economic Pain Ain't Over Yet Economic downturn ‘twice as bad as feared’ NEEDS MORE: House Dems seek $94.2 billion in 'emergency funds'... Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-4-09, so preposterous was the day’s suckers’ rally that I cannot dignify same with my own commentary other than to say SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming Georgia, N.J. and Utah banks fail The Economic Pain Ain't Over Yet Obama says financial sector to shrink (Reuters) Buffett dispenses gloom at Berkshire fest…daaaah! Warren Buffett warns inflation is on the horizon …daaah!(at Fortune) SHOCK CLAIM: WHITE HOUSE BULLY THREAT OVER AUTO BANKRUPTCY... China 'cutting down purchases of US Treasury bonds'... Obama: Wall Street will play less dominant role... ...financial sector to shrink European economy 'will shrink 4%' About 10 U.S. stress test banks to need more capital UBS remains cautious after confirming first-quarter loss AIG to post first-quarter loss, no new bailout: source Prepare for Another Round of U.S. 'Stimulus' Propaganda Swine Flu A Hoax, But Martial Law All Too Real U.S. families rely on handouts in world’s richest country Attack on the Chrysler Capitalists Obama Pushes ‘Crackdown’ on Legal Tax ‘Havens’ Economic downturn ‘twice as bad as feared’ NEEDS MORE: House Dems seek $94.2 billion in 'emergency funds'... Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 5-1-09, suckers’ rally into the close to keep suckers sucked in based on very bad news [U.S. Economy: GDP Shrinks in Worst Slump in 50 Years , Georgia, N.J. banks fail, bringing '09 total to 31 , Auto sales plunge to near 30-year lows , Chrysler to close 5 more plants; court case begins , ‘China cancels America’s credit card’ , Mark Hulbert who tracks investment consensus says bear market rally and new lows before new highs , continuing claims for unemployment at new record 6.3 million, new claims at 631,000 for prior week, worse than expected are consumer spending -.2% and personal income -.3%, Chrysler receives additional $8 billion in taxpayer funds and files for bankruptcy, U.S. Economy in 2nd Straight Quarter of Steep Decline , leading economic indicators ( a forward looking guage of economic activity/growth) declined a much worse than expected –6.1% which one analyst commented was negative and getting worse, pandemic level raised to 5, banks need another trillion, new home sales down, durable goods sales down, 4 more bank failures to 27 for 2009 thus far, GM borrows $2 billion more/close dealers/many more layoffs, 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 ( fed says pace of decline slowing…riiiiight!, dilutive stock issues, not as bad as expected, Consumer confidence soars past forecasts (on fake conference board report) in April – riiiiight! Come on! Even americans are not that shortsighted /blind /dumb!… l , 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! ‘…economic conditions remain dour. Factory orders for March declined 0.9%, which is worse than the 0.6% decline that was widely expected, and February orders were revised lower to reflect an increase of 0.7%. Meanwhile, the ISM Manufacturing Index for April showed continued contraction. It came in at 40.1. However, that was better than the 38.4 that was expected, and was also up from 36.3 in March. With economic conditions continuing to challenge businesses and consumers, Ford (F 5.69, -0.29) announced April auto sales fell 31.6%, while General Motors (GM 1.81, -0.11) said its US sales fell 34% in April…’ …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 Dollar falls on euro, up on yen on GDP hopes…riiiiight! "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 throughSocial Security: Bankrupt System Will Impact Markets Sooner Than Expected Georgia, N.J. banks fail, bringing '09 total to 31 U.S. Economy: GDP Shrinks in Worst Slump in 50 Years Auto sales plunge to near 30-year lows [$$] The Overvalued Market Needs a Healthy Pullback Major wholesale bank shuttered …Silverton, Ga…and then Ridgewood, n.j. for 31st bank failure this year (at CNNMoney.com) Manufacturing declines at slower rate in April … riiiiight!…(AP) Chrysler to close 5 more plants; court case begins Results delayed again on banks stress tests …the fudge factor!…(at bizjournals.com) Regulators close two more banks U.S. families rely on handouts in world’s formerly richest country Elliot Wave Theorists Claim Pandemics Always Happen In a Bear Market CITI Said to Need Up to $10 Billion; Bank Disputes 'Stress Test' Result... ‘China cancels America’s credit card’ China, wary of the troubled US economy, has ‘canceled America’s credit card’ by cutting down purchases of debt, a US congressman says. Top Senate Democrat: bankers “own” the U.S. Congress Stress-Test Results Are Delayed by Fed as Examiners, Banks Debate Findings... Economy shrinks at worse-than-expected pace... Metro Unemployment Skyrockets; Some Cities See Rates Comparable To Great Depression... STRESS: Fed Finds at Least 6 of 19 Biggest Banks Need to Raise More Capital... CITI scrambles... MSNBC's Washington HQ Can't Make Rent: Looking to Share Space with Local U... Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 4-30-09, very modest losses relative to reality to keep suckers sucked in based on very bad news [Continuing claims for unemployment at new record 6.3 million, new claims at 631,000 for prior week, worse than expected are consumer spending -.2% and personal income -.3%, Chrysler receives additional $8 billion in taxpayer funds and files for bankruptcy, U.S. Economy in 2nd Straight Quarter of Steep Decline , leading economic indicators ( a forward looking guage of economic activity/growth) declined a much worse than expected –6.1% which one analyst commented was negative and getting worse, pandemic level raised to 5, banks need another trillion, new home sales down, durable goods sales down, 4 more bank failures to 27 for 2009 thus far, GM borrows $2 billion more/close dealers/many more layoffs, 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 ( fed says pace of decline slowing…riiiiight!, dilutive stock issues, not as bad as expected, Consumer confidence soars past forecasts (on fake conference board report) in April – riiiiight! Come on! Even americans are not that shortsighted /blind /dumb!… l , 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! …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 Dollar falls on euro, up on yen on GDP hopes…riiiiight! "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…” Chrysler files for Chapter 11 bankruptcy Motorola loss widens; analysts see worrisome signs Dow Chemical 1Q profit tumbles 97 percent With earnings bar low, April fraudulently strong for stocks Will the Swine Flu Get the Same Response as the Financial Crisis - Protect the Status Quo without Really Changing Anything? U.S. Economy: GDP Shrinks in Worst Slump in 50 Years Top Senate Democrat: bankers “own” the U.S. Congress Stress-Test Results Are Delayed by Fed as Examiners, Banks Debate Findings... Economy shrinks at worse-than-expected pace... Metro Unemployment Skyrockets; Some Cities See Rates Comparable To Great Depression... STRESS: Fed Finds at Least 6 of 19 Biggest Banks Need to Raise More Capital... CITI scrambles... MSNBC's Washington HQ Can't Make Rent: Looking to Share Space with Local U... Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 4-29-09, flagrant suckers’ rally to keep suckers sucked in based on very bad news [ U.S. Economy in 2nd Straight Quarter of Steep Decline leading economic indicators ( a forward looking guage of economic activity/growth) declined a much worse than expected –6.1% which one analyst commented was negative and getting worse, pandemic level raised to 5, banks need another trillion, new home sales down, durable goods sales down, 4 more bank failures to 27 for 2009 thus far, GM borrows $2 billion more/close dealers/many more layoffs, 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 ( fed says pace of decline slowing…riiiiight!, dilutive stock issues, not as bad as expected, Consumer confidence soars past forecasts (on fake conference board report) in April – riiiiight! Come on! Even americans are not that shortsighted /blind /dumb!… l , 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! …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… "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 Dollar falls on euro, up on yen on GDP hopes…riiiiight! "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…” Economy shrinks at worse-than-expected pace... Metro Unemployment Skyrockets; Some Cities See Rates Comparable To Great Depression... STRESS: Fed Finds at Least 6 of 19 Biggest Banks Need to Raise More Capital... CITI scrambles... MSNBC's Washington HQ Can't Make Rent: Looking to Share Space with Local U... Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 4-28-09, very modest losses relative to reality to keep suckers sucked in based on bad news (banks need another trillion, 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, Consumer confidence soars past forecasts (on fake conference board report) in April – riiiiight! Come on! Even americans are not that shortsighted /blind /dumb!… l 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! Sun's loss widens on restructuring, slumping sales Citi, BofA may need more capital after stress tests (Reuters) GM to force more than 1,000 dealers to close Douglas, Stone head back to `Wall Street' (AP) E-Trade Financial 1st-qtr loss widens, shares fall (AP) Textron's 1st-quarter profit falls 63 pct (AP) …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… Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 4-27-09, only modest losses relative to reality to keep suckers sucked in based on bad news (banks need another trillion, 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! …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… Betrayal of the People By Wall Street, Banks, and Government GM OFFERS ITSELF UP FOR NATIONALIZATION... FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... GM goes for broke Corporate CFR Members Get Most of the Bailout Money Flu fears dampen talk of tentative world recovery Raised pandemic risk, bank capital report fuels fresh fears US newspaper circulation sees biggest decline yet (AP) WSJ: Regulators urge BofA, Citi to boost capital

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.

U.S. Initial Jobless Claims Rose to 640,000 Last Week

Gore Denies that Ken Lay, Goldman Sachs CEOs Helped Develop C02 Trading ‘Scheme’: VIDEO

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 out Why Housing Is Not Coming Back Obama Talks Credit Cards, Summers Nods Off This Volatility Is Off the Charts! Banks May Struggle After 'Stress Tests'; Bad Assets Triple...

R.I.P.: GM to pull the plug on Pontiac...

Four more banks closed by regulators, this years closures exceeding all of 2008 as depression continues John 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 4-23-09, suckers’ rally in last 30 minutes to keep suckers sucked in based on bad news ( 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!). 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.). U.S. Initial Jobless Claims Rose to 640,000 Last Week as Continuing Claims Exceed 6.1 million for new record …k Russia’s economy shrank a staggering 9.5% in first quarter Truth About TARP Reports: GM to Shut Down Plants for the Summer President's financial adviser falls asleep while Obama talks! ON THE BRINK: Feds preparing bankruptcy filing for CHRYSLER... AMEX Profit Drops 58% as Defaults Rise, Consumers Cut Spending... Microsoft's sales show fallout of recession Normura posts record $7.3 billion annual loss Interview with Peter Schiff: Reflating the Bubble

Soaring U.S. Budget Deficit Will Mean Billions in Bond Sales Housing bubble smackdown: Huge “shadow inventory” portends a bigger crash ahead AP Sources:GM to shut many US plants up to 9 weeks - General Motors Corp. is planning to temporarily close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles, three people bri… [$$] Morgan Stanley Still at Loss (at The Wall Street Journal Online) [$$] Gauging Stress: More Losses Likely (at The Wall Street Journal Online) No quick cybersecurity fix seen Banks still in distress, Geithner tells overseers…DAAAAAH! How ‘bout insolvent!…(AP) David Tice: S&P 500 To Plunge to 325 Housing Starts Fall Sharply... Wall Street loses 3,100 jobs in March … Should lose another 90% OF THEIR CHURN AND EARN JOBS (Reuters) Treasury Stress Test Won't Add Clarity or Transparency - Just Inconsistency … and lack of meaningful FASB standard (ie., mark to market abolition, etc.) means more fraud (at Seeking Alpha) Questions linger over Tarp funding... MAJOR MALL OPERATOR FILES FOR BANKRUPTCY... JPMorgan and Goldman trading profits unlikely to last Reuters The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

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.’

Gold Heading Above $2,000 by End of 2010: Strategist Soaring U.S. Budget Deficit Will Mean Billions in Bond Sales Housing bubble smackdown: Huge “shadow inventory” portends a bigger crash ahead AP Sources:GM to shut many US plants up to 9 weeks - General Motors Corp. is planning to temporarily close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles, three people bri... Falling bank stocks unravel rally; Dow loses 83 - Nagging worries about banks upended a stock market rally Wednesday. [$$] Morgan Stanley Still at Loss (at The Wall Street Journal Online) Talks on mortgage relief plan hit a snag (AP) - Negotiations between the banking industry and Senate Democrats on a mortgage relief plan hit a snag Wednesday after a trade association representing credit unions said it could not endorse the proposa... [$$] Gauging Stress: More Losses Likely (at The Wall Street Journal Online) No quick cybersecurity fix seen Banks still in distress, Geithner tells overseers…DAAAAAH! How ‘bout insolvent!…(AP) David Tice: S&P 500 To Plunge to 325 Housing Starts Fall Sharply... Wall Street loses 3,100 jobs in March … Should lose another 90% OF THEIR CHURN AND EARN JOBS (Reuters) Treasury Stress Test Won't Add Clarity or Transparency - Just Inconsistency … and lack of meaningful FASB standard (ie., mark to market abolition, etc.) means more fraud (at Seeking Alpha) Questions linger over Tarp funding... MAJOR MALL OPERATOR FILES FOR BANKRUPTCY... JPMorgan and Goldman trading profits unlikely to last Reuters The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 4-21-09, Tiny Tim talks the talk in testimony tit for tat talking the talk, or stated another way, how much talk could tiny tim talk if a tiny tim could talk talk, said three times fast and you have the inspiration for a rally on fraudulent wall street based on bull s**t alone as bad news and bull s**t alone has kept the churn and earn commissionable 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! Even main stream business radio reporter Laura Gregory references the ‘rally based on nothing at all’, which of course is true. One analyst said all bank problems remain and reality would not limit the remaining problems to banks. IMF says $2.7 trillion in losses ahead for (u.s.) banks. judd greg says u.s. couldn’t meet the economic criteria for admission to EU. WOW! Given the economic state of the EU, that’s worse than bad! Seeking Alpha Analyst sums it up ‘…The six-week-long rally is over. It was huge. The Dow Jones is up almost 1500 points. But the party is over. The Dow Jones fell under its 13 day moving average, the same thing happened to the S&P 500 and the Nasdaq composite. I had some hope that the Naz could stay above its 13 day MA, but no such luck. Now what? According to the 1932 scenario, we might have a 2-3 months long slump, followed by another bull market. Or the market can go down big time, cross down its 50 day MA and test the March lows…’ - The latter is the scenario consonant with reality. - He assumes best case scenario as he concludes that ‘…means that either the March low holds or a new low will not be much lower. – Reality disagrees with that overly rosy scenario based upon his stated overly rosy assumption! Crimes suspected in 20 bailout cases — for starters AIG eats another $30 billion-ish Housing Bubble Smackdown: Bigger Crash Ahead U.S. Stocks To Fall at Least 6%: Doug Kass Key Points About the Coming Hyperinflation Wall St gains as banks lifted by tiny tim’s b.s NYT losses worsen as ad sales plunge 27%... Yahoo to cut 5 percent of jobs Wall St gains as banks lifted by tiny tim’s b.s. AMD posts deeper loss, shares fall (AP) [$$] Connecticut Treasurer Joins Critics of BofA CEO (at The Wall Street Journal Online) [$$] Citi Investors Vent About Losses (at The Wall Street Journal Online) Banks still in distress, Geithner tells overseers…DAAAAAH! How ‘bout insolvent!…(AP) David Tice: S&P 500 To Plunge to 325 Housing Starts Fall Sharply... Wall Street loses 3,100 jobs in March … Should lose another 90% OF THEIR CHURN AND EARN JOBS (Reuters) Treasury Stress Test Won't Add Clarity or Transparency - Just Inconsistency … and lack of meaningful FASB standard (ie., mark to market abolition, etc.) means more fraud (at Seeking Alpha) Questions linger over Tarp funding... MAJOR MALL OPERATOR FILES FOR BANKRUPTCY... JPMorgan and Goldman trading profits unlikely to last Reuters The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

PREVIOUS 4-20-09, Modest losses relative to reality as bad news and bull s**t alone has kept the churn and earn commissionable 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! All reasons for today’s 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.. David Tice: S&P 500 To Plunge to 325 `Housing Starts Fall Sharply...` Sony Ericsson posts Q1 loss, plans more cost cuts Wall Street loses 3,100 jobs in March … Should lose another 90% OF THEIR CHURN AND EARN JOBS (Reuters) Treasury Stress Test Won't Add Clarity or Transparency - Just Inconsistency … and lack of meaningful FASB standard (ie., mark to market abolition, etc.) means more fraud (at Seeking Alpha) `Questions linger over Tarp funding...` `MAJOR MALL OPERATOR FILES FOR BANKRUPTCY...` JPMorgan and Goldman trading profits unlikely to last Reuters The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression Fed sees economy sliding further A Bear in Bull's Clothing: Why This Rally Will Fall Short Ron Paul: Reckless Spending And Taxation Prolonged Great Depression Goldman Sachs: Wall St Largest Crooks

Citigroup: The Beginning and End of the Current Rally (at Seeking Alpha) Why BAC Will Beat: Understanding a New Bull Market Is Not Underway (at Seeking Alpha) Government's Handling of Economic Crisis - Einstein Would Call It Insane (at Seeking Alpha) Bank of America net up, shares sink on bad loans GM cutting 1,600 U.S. salaried positions IBM sales fall more than expected, but b.s. up Wall Street sinks on banks' woes Wall Street tumbles as investors dump financials (AP) IBM shares slip as 1Q sales fall short (AP) New embrace of reality about bank health grip Wall Street Backdoor Path To Bank Nationalization (at CNBC) Zions Bancorp Swings To 1Q Loss; Moody's Cuts Ratings Economic Downturn Negatively Affecting Credit Markets in Varied Industries Celente: “America lives in a fascist state” Backdoor Nationalization? U.S. May Convert Banks’ Bailouts to Equity Share Why a 50% Drop in Housing Is Not the Bottom

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 by Peter 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…’

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 end US foreclosures up 24 percent in 1st quarter Jim Rogers Says Investors Should Expect More Bottoms Still 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 ST 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 $__ 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 Coverup WHAT TOTAL BULL ST! …[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 tests New 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-à-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 Feirman Wow, 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…David Tice: S&P 500 To Plunge to 325 `Housing Starts Fall Sharply...` Sony Ericsson posts Q1 loss, plans more cost cuts Wall Street loses 3,100 jobs in March … Should lose another 90% OF THEIR CHURN AND EARN JOBS (Reuters) Toshiba expects bigger loss, contract job cuts Sony Ericsson posts loss, to cut 2,000 jobs Treasury Stress Test Won't Add Clarity or Transparency - Just Inconsistency … and lack of meaningful FASB standard (ie., mark to market abolition, etc.) means more fraud (at Seeking Alpha) `Questions linger over Tarp funding...` `MAJOR MALL OPERATOR FILES FOR BANKRUPTCY...` JPMorgan and Goldman trading profits unlikely to last Reuters The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression Fed sees economy sliding further A Bear in Bull's Clothing: Why This Rally Will Fall Short Ron Paul: Reckless Spending And Taxation Prolonged Great Depression Goldman Sachs: Wall St Largest Crooks

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 Bottoms BULL 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 Coverup WHAT TOTAL BULL S**T! U.S. Treasury asking banks keep quiet on stress tests New 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-à-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 Feirman Wow, 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 Coverup Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression Fed sees economy sliding further A Bear in Bull's Clothing: Why This Rally Will Fall Short Goldman Sachs Q1: Pay Up, People Down Dealbreaker Afterdark: Fannie Mae CEO To Head Bailout Nation UBS cuts 8,700 more jobs Let'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 jobs World Economy Falling Faster Than in 1929-1930 The Geithner-Summers Plan is Even Worse Than Thought Author who predicted crisis sees hyperinflation ahead

PREVIOUS (4-13-09), ’ Jim Rogers Says Investors Should Expect More Bottoms BULL 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 Coverup WHAT TOTAL BULL S**T! U.S. Treasury asking banks keep quiet on stress tests New 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-à-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 Feirman Wow, 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 Coverup China Slows Purchases of U.S. and Other Bonds Goldman Sachs hires law firm to shut blogger’s site for pointing to truth about the fraud firm e Singapore economy shrinks sharply more than expected WELLS FARGO 'May Need $50 Billion to Pay Feds, Cover Loan Losses'... Reporters threatened with arrest for filming private Federal Reserve building SURGE IN DELINQUENT TAXPAYERS; WASHINGTON VOWS SYMPATHY Warren Buffett's electric car venture; CEO drinks 'battery fluid'... Goldman Sachs mulls dilutive worthless stock sale to repay TARP money with other TARP money: now you know where the fed trillions in part are going: report GOLDMAN SACHS announces $5B public stock offering, reports $1.8B quarterly profit... Bailed-Out Banks Face Probe over Fees: Report You Know Things Are Bad When Even Newsweek Is Slamming the Obama Administration for Caving in to the Financial Status Quo Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression Fed sees economy sliding further A Bear in Bull's Clothing: Why This Rally Will Fall Short World Economy Falling Faster Than in 1929-1930 The Geithner-Summers Plan is Even Worse Than Thought Author who predicted crisis sees hyperinflation ahead

PREVIOUS (4-9-09), suckers’ bear market rally into the close 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! LATE-BREAKING BULL S**T STORY FOISTED AS B.S. TALKING POINT FOR CONTINUING FRAUD/SPIKE IN STOCK PRICES FOR COMMISSIONING: WELLS FARGO RECEIVES $25 BILLION TAXPAYER MONEY/BAILOUT FUNDS AND SHOWS (RECORD FOR THEM?) $3 BILLION QUARTERLY 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! WHAT TOTAL BULL S**T! U.S. Treasury asking banks keep quiet on stress tests New 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-à-vis stocks (they call what wall street does ‘fraud’…in a rational world where they would already be in jail). 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…’ Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression Fed sees economy sliding further A Bear in Bull's Clothing: Why This Rally Will Fall Short World Economy Falling Faster Than in 1929-1930 The Geithner-Summers Plan is Even Worse Than Thought Market bear Roubini sticks to dour forecasts U.S. Treasury asking banks keep quiet on stress tests Boeing warns on Q1 profit, to cut plane output Wall Street sets 5th weekly gain on banks, Boeing off late U.S. Squeezes Auto Creditors (at The Wall Street Journal Online) Nikkei comes off 9,000, as banks hit by SMFG news Obama seeks $83.4 billion more in 2009 war funds Bank of Japan likely to cut economic outlook in next report Author who predicted crisis sees hyperinflation ahead

PREVIOUS (4-8-09), suckers’ bear market rally into the close on worse than expected 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! LATE-BREAKING BULL S**T STORY FOR B.S. TALKING POINT FOR CONTINUING FRAUD/SPIKE IN STOCK PRICES FOR COMMISSIONING: WELLS FARGO RECEIVES $25 BILLION TAXPAYER MONEY/BAILOUT FUNDS AND SHOWS (RECORD FOR THEM?) $3 BILLION QUARTERLY 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 TO TAX! WHAT FRAUDS! WHAT TOTAL BULL S**T! 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-à-vis stocks (they call what wall street does ‘fraud’…in a rational world where they would already be in jail). 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…’ Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression Fed sees economy sliding further A Bear in Bull's Clothing: Why This Rally Will Fall Short World Economy Falling Faster Than in 1929-1930 [$$] Little Optimism From FOMC Fed sees no economic recovery until next year and then next year and year after that and next year Moody's strips Berkshire Hathaway of top rating Danger lurks behind banks' results Reality of worsening depression drove Fed action [$$] Morgan Stanley to Post a Loss From Volatile, Complex Bonds (at The Wall Street Journal Online) Bank Earnings Will Be Hit by Consumer Woes (at TheStreet.com) Financial Crisis ‘Far From Over,’ Panel Says A Bear in Bull's Clothing: Why This Rally Will Fall Short The Geithner-Summers Plan is Even Worse Than Thought SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS (4-7-09), Economics Professors: Global Crash Worse Than During First Year of Great Depression TRENDSRESEARCH.COM GERALD CELENTE points out that trillion dollar foreign banks got billions of taxpayer bailout funds and Goldman Sachs ceo’s, former ceo’s, board members were among the only few limited government personnel privy to the bailout cramdown/scheme/fraud and further, that new ‘regulation’ now permits valuation of bank assets at whatever they so choose…disaster and 25% unemployment and hyperinflation around the corner, DEPRESSION-level economic conditions already extent, already in depression. Bernanke’s Failed Financial Rescue Plan Fed chief Ben Bernanke has embarked on a radical and ruinous financial rescue plan. According to Bloomberg News, the Fed has already lent or committed $12.8 trillion trying to stabilize the financial system after the the bursting of Wall Street’s speculative mega-bubble, so still great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Cat found alive after 5 weeks under rubble Fed's Fisher says U.S. economy grim AIG aircraft unit seeks $5 billion Fed credit line: report Sustainable Bull Market Unlikely More Correction on the Way in This Bear Market US Bancorp's Loan Losses Loom (at TheStreet.com) Asia Markets: Asian miners lead regional stock tumble Alex Jones interviewed by RT: U.S. is a puppet of private bankers `TARP panel: Financial Crisis 'Far From Over,' Govt. May Spend More than $4 Trillion...` Cities Collapsing throughout the USA Hundreds of Thousands of Unemployed Run Out of Benefits Larry Summers, Tim Geithner and Wall Street’s ownership of government Estimated U.S. taxpayer cost for bailout jumps Bernanke’s Failed Financial Rescue Plan The G20 moves the world a step closer to a global currency Soros: Dollar WIll Be Replaced By World Currency

PREVIOUS (4-6-09), suckers’ bear market rally into the close to finish off lows on bad news and bull s**t alone (ie., real bad numbers though favorably fudged greeted with reiteration ‘better than expected’, etc…riiiiight!), so still great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Respected banking analyst Mayo brought the lunatic frauds on wall street back to earth predicting bank loan losses will exceed those of the Great Depression. Mayo Says Loan Losses Will Exceed Depression Levels... ‘Despite the absence of positive catalysts in afternoon trading, stocks were able to pare their losses. The stock market had been down as much as 2.3%, but was able to more than cut that loss in half. Financial Stocks Have Run Up Too Hard, Too Fast (at Seeking Alpha) Slow down: We're Not at the Bottom Yet U.S. deficit nearly $1 trillion in first half of FY2009 Americans Feel 15.6% Unemployment as Unemployment Surges SOROS SEES END OF DOLLAR AS WORLD CURRENCY... GM Speeds Up Bankruptcy Preparations... Bernanke ‘Green Shoots’ Signals False Spring Amid Job Losses Bush and Obama Administrations Both Broke Law By Refusing to Close Insolvent Banks Murdoch: Long-Term Economic Situation ‘Dangerous’; Recovery 2-3 Years Away Massive Checkpoint Operation in Tennessee Violated Posse Comitatus, Fourth Amendment Hundreds of Thousands of Unemployed Run Out of Benefits Larry Summers, Tiny Tim Geithner and Wall Street’s ownership of government ‘ Mayo Says Loan Losses Will Exceed Depression Levels... Obama Economic Advisors Linked to Bankers

PREVIOUS (4-3-09), suckers’ bear market rally continues on bad news and bull s**t alone (ie., real bad numbers though favorably fudged greeted with reiteration ‘better than expected’, etc…riiiiight!), so still great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! 5.1 million jobs lost, -663,000 in past month, unemployment rate jumps to 8.5% and 15% for underemployed/part time (I’m sure these data understate the far worse reality according to some who say 15% and 20+% respectively), credit card problems/defaults to worsen according to analyst, even service sector down, and providing insult to injury/damage Goldman, et als using taxpayer funds for toxic assets (the real boondoggle is the complicit multi-trillion dollar fraud concerning taxpayer funds to bailout/coverup massive securities law violations/crimes for which prosecution/disgorgement of gains should have already begun). Outrageous and preposterous! U.S. jobless rate hits 25-year high Lawmaker sees Fannie, Freddie bonus "insult" NYC protesters ask US to 'bail out the people' (AP) Soros: Global Depression Ahead Buchanan: We Should Kill the Fed One in 10 Americans gets help to buy food Ex-AIG chief: Bailout will not succeed Unemployment in U.S. Climbed in March to 25-Year High G-20 Shapes New World Order With Wisely Lesser Role for u.s., u.s. Markets -663,000: Unemployment Rate Reaches 25-Year High of 8.5%... 1 in every 10 Americans receive food stamps...

Buchanan: We Should Kill the Fed Patrick J. Buchanan | Hoover did what Obama is doing.

Watchdogs: Treasury won't disclose bank bailout details.(I think it’s obvious they’re covering up the substantial securities fraud, using taxpayer money to do so, as yet there’s not even one prosecution which makes the government complicit, after the fact, in consummating the fraud) ...

PREVIOUS (4-2-09), suckers’ bear market rally based upon decisively bad news (26 Year High as New US jobless claims hit 669,000 in week , except for fake government reports by corrupt scandal-scarred commerce department on manufacturing/index up 1.8% though almost all private forecasts saw decline, etc.), in addition to funny money the frauds on wall street applauded the funny assets courtesy of f.a.s.b. (there are no accounting standards in the u.s.), which makes for wall street style securities fraud as now and in the past (fed also pumped in another $23 billion in last 3 days to fuel same, despite earnings going down and stock prices soaring with stratospherically high p/e ratios). Analyst/fund manager Najarian ‘taking a lot off the table’ (selling), while Analyst/fund manager Farr/Miller who called this bear market rally see’s test of the lows, so if you don’t celebrate All Fools’ Day (you’re not a fool) you’ll continue to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! New US jobless claims hit 669,000 in week WASHPOST: Before Crisis, Geithner Fell Short; He regulated banks... Outstanding Credit Default Swaps Down to “Only” About Twice America’s GDP Layoffs rise despite hope recession is easing (AP) G-20 to give $1 trillion to IMF, World Bank UN chief says crisis could result in failed states Tax dodgers multiply as underground economy cushions job cuts The Wall Street Journal Criticizes Capitol Hill Bonuses (and don’t forget the raises) (at Seeking Alpha) Inflationary Depression Dr. Marc Faber runs his own business, Marc Faber Limited, which acts as an investment advisor and fund manager. He publishes a widely read monthly investment newsletters The Gloom Boom & Doom report which highlights unusual investment opportunities, and is the author of several books including Tomorrow’s Gold – Asia’s Age of Discovery which was first published in 2002 and highlights future investment opportunities around the world.

PREVIOUS (4-1-09), suckers’ bear market rally into the close with 250 point swing to the upside based on decisively bad news and bull s**t alone, viz., better than dismal expectations…I don’t think so! …That dog don’t hunt no more…remember the last market burn and that similar refrain among others, and the ever indecipherable to most, that infamous tech sector will save us (bust)…riiiiight! Oh wait, I get it. April Fools Day, as in ‘fool you once, shame on them, fool you twice, thrice, etc., …shame on you’. How ‘bout all fools day. U.S. private sector axes 742,000 jobs in March March auto sales plunge... U.S. seen facing danger of 2nd recession next year or stated another more realistic way, the depression though flush with ever more worthless weimar dollars providing ephemeral b.s. talking points of happy days are here again will be exacerbated thereby and continue with a vengeance r So, SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

AIG crisis could be the tip of an insurance iceberg U.S. Spending 100% of GDP on Bailouts and Related Programs Watchdogs: Treasury won't disclose bank bailout details.(I think it’s obvious they’re covering up the substantial securities fraud, using taxpayer money to do so, as yet there’s not even one prosecution which makes the government complicit, after the fact, in consummating the fraud) ... U.S. private sector axes 742,000 jobs in March March auto sales plunge... U.S. seen facing danger of 2nd recession next year or stated another more realistic way, the depression though flush with ever more worthless weimar dollars providing ephemeral b.s. talking points of happy days are here again will be exacerbated thereby and continue with a vengeance r Financial Rescue Nears GDP as Pledges Top $12.8 Trillion U.S. auto sales plunge, but bottom not yet near "Hurt, Frightened and Very Angry:" Risk of Social Unrest Rising, Says FT's Martin Wolf [$$] Accounting Rules Should Avoid Impairment (at The Wall Street Journal Online) Nightmare on Wall Street Destination Collapse Foreclosure Crisis Hits Warp Speed: 6 Million Families Face Losing Their Homes in the Next Three Years

PREVIOUS (3-31-09), suckers’ bear market rally continues to keep suckers suckered and commission dollars flowing by window-dressing this past month (and quarter) with gains based on bad news and hence bull s**t alone so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Global Meltdown, Part III $$] It's Only Window-Dressing Why This Is Just Another Bear Market Rally All news decisively negative with prospectively negative implications as the jawboners/frauds talk up that ever elusive bottom for stocks/real estate despite reality indicating otherwise [have you noticed the wide divergence of private reports (though somewhat skewed to the upside because of flawed/fake data they must rely upon from the government) as opposed to false government reports]. Confidence near historically record lows and Case/Shiller index showing declining real estate values (-19.4%) Home Prices in 20 U.S. Cities Fell by a Record 19% with declines at highest rate on record Global Meltdown, Part III $$] It's Only Window-Dressing Why This Is Just Another Bear Market Rally An Autopsy of the Glass-Steagall Act U.S. Spending 100% of GDP on Bailouts and Related Programs TARP Watchdog: “We Do Not Seem To Be A Priority For The Treasury Department” NEWS BROKE: SUN-TIMES Files For Bankruptcy, Both Major Chicago Dailies Now In Chapter 11... Ontario, CA, Tent City Residents Required to Wear Wristbands Government website now offers ’suicide warning signs’ for victims of recession .

PREVIOUS (3-30-09), 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! Obama's tough auto stance may include bankruptcy Wall Street hits the brakes on autos, bank woes Workers say Obama treated autos worse than Wall St (AP) UBS shares fall as writedowns, job cuts expected (AP) Obama puts GM, Chrysler on short leash Stocks fall as automaker plans are rejected Russia backs return to Gold Standard to solve financial crisis Looting by U.S. Government at All-Time Highs White House to let Chrysler fail US Banks Operate Without Reserve Requirements GM, Peugeot CEOs forced out as auto woes deepen Geithner won't say if more bailout money needed AIG delays funds to some real-estate ventures: report Asian stocks tumble on auto, bank concerns (AP) UBS shares fall as more writedowns, job cuts seen (Reuters) GM, Chrysler have no 'viable' plans: US task force Pension insurer shifted to stocks to froth the fraudulent market Boston Globe | Just months before the start of last year’s stock market collapse, the federal agency that insures the retirement funds of 44 million Americans departed from its conservative investment strategy and decided to put much of its $64 billion insurance fund into stocks to froth the frudulent market at behest of frauds on wall street.

PREVIOUS (3-27-09), very modest losses relative to reality so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Sugar coated though still bad numbers, usual suspects/concerns cited, ie., bankruptcies on rise, omni 22nd bank to fail this year, printing hyperinflationary funny money like mad, etc. (don’t forget, as now, in 2008 they predicted improvement in second half and no recession though we now know we were already in recession and now depression). Nobel Laureate Dr. Joseph Stiglitz Says “The Geithner Plan Amounts To Robbery Of The American People” Ninth Georgia bank collapses (at Atlanta Journal Constitution - 22nd this year) Economy shrinks most in 25 years; Unemployment continues climb Roubini Says Stocks Will Drop, Government Will Nationalize More Banks... Ron Paul Predicts 15-year Depression The Credit Bust Is Not Almost Over (at Seeking Alpha) Top bank regulator placed on leave pending review (AP) PAPER: Rahm Emanuel's Short FREDDIE MAC stay made him $320,000+... On PPIP and Geithner's Latest Power Grab (Linkfest) (at Seeking Alpha) Will SDRs Become World’s Reserve Currency? UN PANEL TOUTS NEW GLOBAL CURRENCY... Rep. to Geithner: Your Plan Is 'Radical'... The Bubble That Must Burst

PREVIOUS (3-26-09), all news decisively bad, viz., continuing unemployment claims at new record high 5.56 million, new unemployment claims at very bad 653,000, economic contraction a worse than previously reported –6.3%, corporate profits down and at worst levels in decades, J.D. Power and Associates reports auto sales decline of a whopping –40%, Economy shrinks most in 25 years; Unemployment continues climb Roubini Says Stocks Will Drop, Government Will Nationalize More Banks... Ron Paul Predicts 15-year Depression , yet suckers’ bear market rally to keep those suckers suckered so take this folly as a great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! The Credit Bust Is Not Almost Over (at Seeking Alpha) Top bank regulator placed on leave pending review (AP) PAPER: Rahm Emanuel's Short FREDDIE MAC stay made him $320,000+... On PPIP and Geithner's Latest Power Grab (Linkfest) (at Seeking Alpha) Will SDRs Become World’s Reserve Currency? UN PANEL TOUTS NEW GLOBAL CURRENCY... Rep. to Geithner: Your Plan Is 'Radical'... The Bubble That Must Burst

PREVIOUS (3-25-09), The corrupt, scandal-scarred commerce department notorious for institutionalized lying comes out with numbers three times/300% better than private forecasts for now into the third week in a row for such very forecastable data as used home sales, new home sales, and durable goods (mostly government/military with funny at that) in an attempt to froth that font of fraud called the american stock market/wall street which is how this financial/economic crisis came to be, with the parasitic churn-and-earn commisioning on the way up (and then down) based on bull s**t alone. Still not one prosecution of that huge collateralized securities fraud for which disgorgement would constitute substantial contribution to treasury as opposed to the just announced diversion to small potatoes (like madoff, which should be pursued but not a priority to the multi-trillion dollar collateralized securities fraud, etc.), viz., the sub-prime mortgage origination fraud (encouraged by actions of fed and government), etc.. With 80% debt-to-GDP ratio, the u.s. is now the leader of banana republic nations. Nobel Laureate Dr. Joseph Stiglitz Says “The Geithner Plan Amounts To Robbery Of The American People” IBM to cut 5,000 jobs in U.S. Wall St. rallies late as data offsets bond sale gloom [$$] Government-Debt Auctions Disappoint as Demand Subsides (at The Wall Street Journal Online) Asian Shares Mostly Lower, Mkts Overcooked; Nikkei Down 0.7% CDS ‘Godfather’ Says Blow ‘Em All Up’ Obama Denounces Global Currency While Creating The Very Means For Its Introduction Code Pink and Barney’s Bailout Circus One Small Problem With Geithner’s Plan: It Will Bankrupt The Banks White House to Hunt for New Tax Revenues Bank Of England warns Gordon Brown to stop the spending U.K. Bond Auction Fails for First Time Since 2002 Obama’s Economic Plan a “Road to Hell” Associated Press | The president of the European Union on Wednesday slammed U.S. plans to spend its way out of recession as “a road to hell.”

PREVIOUS (3-24-09): Modest losses relative to an increasingly grim reality so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

ETF Death Watch: Why Are Funds Closing? The financial crisis isn’t just shrinking portfolios and profits. It’s also putting exchange-traded funds and notes out of business. According to State Street, 58 exchange-traded products closed last year and another 30 or so from companies like SPA, Credit Suisse and Northern Trust have stopped trading the last three months. With more on the way, the liquidation process is shaping up to be a prominent trend for investors to watch in 2009.
Geithner Plan Will Rob US Taxpayers: Stiglitz The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on Tuesday.
Geithner Grilled on Goldman Sachs Connections David Edwards | Geithner told Waters that Goldman Sachs could help manage the new program to help banks remove toxic assets from their books. Haven’t goldman and goldman people done enough damage? Their abilities and competence are vastly overrated and overstated. Be Gentle with the Bankers? No, Indict Them for Fraud/High Treason

U.S. woos investors to buy toxic assets Falling Japan land prices stir deflation worries China Telecom's annual profit plunges 96% on write-down Japan automakers' sales tumble in February China Urges New Money Reserve to Replace Dollar The Fed Did Indeed Cause the Housing Bubble China Voices Support For New Global Currency To Replace Dollar

US unveils public-private plan for toxic assets

Donating for dollars? Many bailed-out banks still contributing to campaign funds The federal bank bailouts may be giving new meaning to the term “kickback.” JPMorgan Chase To Spend Millions on New Jets and Luxury Airport Hangar YouTube Caught Censoring Obama Deception Video The Fed Did Indeed Cause the Housing Bubble

What the Pros Say: US Is Now ‘Bankrupt’ US Federal Reserve announces massive increase in government debt U.S. Budget Office offers darker economic and deficit outlook [$$] Market Overbought and Overbelieved Auditors project deeper deficits for Obama budget Rothschild: Economic crisis will leave governments with “enormous public debt” The Fed Did It, and Greenspan Should Admit It

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: Analyst U.S. Budget Office offers darker economic and deficit outlook The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed U.N. panel says world should ditch dollar

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.

I’M A SELLER OF THIS RALLY AT THIS POINT…..

PREVIOUS (3-20-09), Modest losses relative to reality and their printing those worthless Weimar dollars like mad, 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 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: Analyst U.S. Budget Office offers darker economic and deficit outlook The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed U.N. panel says world should ditch dollar

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…’

US is Already Bankrupt: Analyst The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed U.N. panel says world should ditch dollar Corporate Media Disses Gold Citigroup May Spend $10 Million for Executive Suite It’s Not Just AIG: Fannie Plans Exec Bonuses Gold Re-Couples with Euro, “Dollar Getting Destroyed” House passes tax to recoup most of AIG bonuses ($200 million); what about the $14 trillion in fraudulent bailouts and the missing $4 trillion at the New York fed… s Bank of America involved in Merrill Q4 writedowns: report Put/Call Ratio Indicates Overbought Market Condition SUPER PUMP: $1 TRILLION CREATED OUT OF THIN AIR... Oil Nears $52; Hits high for 2009...

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).

Depression Unrest Turmoil Instability Riots all coming and SOON As depression deepens, more americans go fishing (Reuters) It’s Not Just AIG: Fannie Plans Exec Bonuses Stimulus plan: Spend now, details later (promise) Dollar Plunges After Fed Announcement Senate quietly stripped measure restricting bonuses from bailout legislation Hedge funds could reap billions from AIG which should not reward soured bets/gambles with taxpayer funds as now slated. Citi, Morgan Stanley Looking to Issue More Diluting Shares for Bonus Payments (at Seeking Alpha) Editorials: Rewards instead of punishments

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!

Dent, Napier, and Prechter - Wise to Heed Their Predictions Is Mistrust in Wall Street Pointing to New Lows? RECORD: NATIONAL DEBT HITS $11 TRILLION... The Size of Derivatives Bubble = $190K Per Person on Planet Washington knew AIG was preparing to pay bonuses (AP) U.S. to claw back AIG bonuses, lawmakers eye tax House committee scrutinizes Merrill bonuses Bad year or good, fraud or just preparing for fraud with wall street, AIG employees got big bonuses (AP) Paulson Was Behind Bailout Martial Law Threat Fed Hides Destination Of $2 Trillion In Bailout Money World Bank cuts China GDP estimate again, to 6.5% Obama Confronts “Populist Anger” Over Bankster Giveaways IMF poised to print billions of dollars Jim Rogers Expects Civil Unrest in the US and all around the World

PREVIOUS 3-16-09, Very modest losses relative to reality so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! ‘…February industrial production declined 1.4%, which is essentially in-line with the consensus 1.3% decline. Capacity utilization dipped to 70.9% from 71.9%, as generally expected. The February report continues to reflect a weak demand environment that will ultimately drag on GDP...’’… The nation's industrial output fell for the fourth straight month in February, with factories operating at their lowest level in six decades of record keeping. Analysts forecast more production cuts to come as companies are battered by recessions at home and abroad. The Federal Reserve reported Monday that industrial output dropped by 1.4 percent last month, slightly larger than the 1.2 percent decline economists had expected. The weakness included a 0.7 percent fall in manufacturing output, which pushed the operating rate at the nation's factories down to 67.4 percent of capacity last month, the lowest level on records that go back to 1948…’

Treasury to rework AIG aid to recoup bonuses AIG massive payments to banks stoke bailout rage Hearst prints final Seattle PI Hearst hopes Web-only Seattle P-I will turn profit AIG Bonuses Add to Reality of Public Revolt against Wall Street, Federal Reserve Bracing for a Bailout Backlash Dollar Crisis In The Making Think recession’s bad? Try a cataclysm! Insurance giant AIG to pay $165 million in bonuses (AP) AP - American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars. AIG plans to disclose CDS counterparties: source Chrysler faces July cash crunch even with more aid Accounting Rule Changes Creating False Rally in Financials (at Seeking Alpha) Cash-hungry U.S. states turn to Web to auction goods Bernanke: recession could end in '09 and if his grandmother had wheels she could be a trolley car and as he previously said we could avoid recession though we were already in one which is now a depression with worse yet to come and most assuredly will not end in 2009 except in the b.s. talking points in their dreams (AP) Millions in AIG bonuses draw chorus of outrage (AP) AIG payments to banks stoke bailout rage White House says economy is sound despite 'mess’ or stated another way, a sound mess…..riiiiight!'

AIG Bonuses Add to Reality of Public Revolt against Wall Street, Federal Reserve Mike Adams | People will be marching in the streets, demanding the arrest of all the rich executives and corrupt bureaucrats who took part in this massive financial theft.

PREVIOUS 3-13-09, 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 Regulator: Before Banks Collapsed, They Pleaded With Feds To Let Them Fudge Their Books Ryan 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. Unemployment in 7 States Has Exceeded 20% in February China Debates If It Should Continue to Foolish Buy Evermore Worthless U.S. Treasuries America faces new Depression misery as financial crisis worsens Tent Cities, Unemployment, Homelessness Growing Dmitry Orlov: “America will collapse” Warren Buffett's BERKSHIRE HATHAWAY stripped of its 'AAA' credit rating... THE INFLUENCE/BRIBE/PROTECTION RACKET: New record for number of PACs

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…’

Ron Paul, A Rare Voice of Reason on Capital Hill: Culprits Of Financial Collapse Should Be Arrested, Prosecuted, and Forced Disgorgement Of Fraudulent Gains Would Inure to the Benefit of the Technically/Defacto Insolvent/Bankrupt u.s. Treasury in the Multi-Trillions as Recovered - Compared to them, madoff was a mere piker Citigroup Inspired Bear Market Suckers’ Rally Unemployment in 7 States May Have Exceeded 20% in February 45 percent of world’s wealth destroyed: Blackstone CEO Madoff jailed after pleading guilty to $50-65 billion fraud and telling court: ‘I am deeply sorry and ashamed of my crimes’ Newmont CEO sees gold in range of $1,200 House prices to drop another 55% and leave Britain bankrupt Madoff sent to jail as furious victims applaud (AP) Madoff pleads guilty, is jailed for $65 billion fraud Don't Sweat Hypernflation Just Yet: Deflation/Depression "In the Cards" for 2009 and Beyond, Shilling Says More on Roubini and Shiller's Dour Outlook Pelosi dodges chance to end automatic pay raises Ron Paul: Culprits Of Financial Collapse Should Be Arrested SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

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.

53% of Americans (and Senator Specter) Think the U.S. Depression is Like the 1930’s This is a Depression! For Markets, What they call it does Not Matter Billionaire Stanford to take the 5th in fraud case (AP) Madoff mysteries remain as he nears guilty plea Merrill misled Congress on bonuses o Freddie Mac seeks $30.8B in US aid after 4Q loss Earnings Growth Estimates: The Bad, the Bad and the Ugly Japan's economy shrinks an annualized 12.1% in the fourth quarter Dell Cuts Staff Worldwide Last year REITs lost 38% - that's a bit worse than the S&P 500 Credit card delinquencies hit index record Thousands Line Up at Indiana Mall for Food Handouts The Fed Has Destroyed Your Retirement SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS (3-10-09), yes, indeed, a rally with power of a speeding locomotive based on….. b.s. talk point with early release of CITI 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…’

Cost to buy protection against U.S. government default surges Good News! Economist Sees GDP Down 7% in Q1 and 9.25% Unemployment in 2010 Madoff faces life in prison on 11 criminal charges Citi's fake profit view, uptick talk drive big rally Roubini: Depression Could Last beyond 36 Months; Dow at 5000... United Tech to cut 11,600 jobs Why Commodities Prices May Rise, Even In Deflation IMF warns of Great Depression, All Nations at risk Oil at $50 Looms as OPEC Plans Cut, Keeps to Quota 53% Say It’s Likely the U.S. Will Enter a Depression Similar to 1930’s even though we’re already in one worse than the 1930’s Washington plans for big bank failure SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

PREVIOUS (3-9-09), …‘Despite a rebound by financial stocks and a batch of merger news, the stock market was unable to put together a sustainable advance. Stocks finished with a broad-based loss, a bit above session lows. Uncertainty in foreign indices fueled early losses in the headline indices. Financials were the focal point of the weakness, falling to a loss of 2.2%. The drop was short-lived, though. Financials rallied to a gain of 5.3%, but finished with a gain of 2.5%’… …’ Wall Street fell more than 1 percent Monday as uneasiness about the economy eclipsed a bounce in troubled financial stocks and news of a big drug company merger. Stocks rose in the early going but turned lower in a now familiar pattern where short-lived bursts of optimism give way to concerns about the country's economic woes’ (in the real world they call that mental illness, lunacy –note the full moon, manic depression/bipolar disorder, etc., or just plain fraudulent wall street )’
World Bank offers dire forecast for world economy Depression Dynamic Ensues as Markets Revisit 1930s Global Financial Assets Lost $50 Trillion Last Year SEC says money manager invented big accounts Who got AIG's bailout billions? ‘The collapse of America is unavoidable’ Regulators seize seventh bank in Georgia... Kerry: 'Animal House' Party Days Are Over for u.s. government... Bank stocks rally despite their insolvency (AP) Too big to fail? 5 biggest banks are 'dead men walking' (McClatchy Newspapers) [video] Next Dead Dividend (at TheStreet.com) Oil at $50 Looms as OPEC Plans Cut, Keeps to Quota Too Big Has Failed: KC Fed Prez Says We Need Temporary Nationalization (at Seeking Alpha) World Bank says global economy will shrink in 2009 (AP) Recession on track to be longest in postwar period (AP) Cash In A Mattress? No, Gold In The Closet Paulson Was Behind Bailout Martial Law Threat Fed Hides Destination Of $2 Trillion In Bailout Money

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."

Madoff expected to plead guilty to fraud charges How to Spot a Ponzi Con Artist? Follow the Yachts (Time.com) U.S. jobless rate hits 25-year high Goldman, others get AIG payouts: report US Bancorp CEO got pay package valued at $6.8M (AP) Huge layoffs push joblessness toward double digits AP source: Madoff guilty plea expected next week Stocks facing uphill battle; budget, retail sales loom $11 Trillion Wipeout: Wall Street's Year-and-a-Half of Dangerous Living Economy in 'Free-Fall': Unemployment Rate Surges to 8.1%, Highest in 25 Years GM shares reach 75-year low amid bankruptcy talk (AP) Fox Admits To Planting Political Brainwashing In Popular TV Shows Pelosi Backs Senate Facist Amendment to Censor Talk Radio Senate to Give FDIC up to $500 Billion Senator Bernie Sanders Slams Fed Boss Ben Bernanke Bailout Money - Instead of Being Used to Stabilize the Economy or Even the Bailed-Out Companies - is Just Going to Line the Pockets of the Wealthy Taxpayers Furious With Budget Cuts Take Frustration To Streets Of NYC AIG “Was Going to Bring Down Europe”: Lawmaker

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 lows Bernanke 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 viability One in 8 U.S. homeowners late paying or in foreclosure Citigroup 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 America Mortgage 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 February FDIC’s Bair Says Insurance Fund Could Be Insolvent This Year The Never-Ending Bailout They Done Us Wrong: Spending Our Way Into Greater Depression Credit concerns pound GE shares in volatile trade China hopes, oil's jump, both negatives, end Wall St 5-day rout Warren Buffett's 'Fundamental Weakness' ETFs Suffer Outflows In February Celente: U.S. Has Entered “The Greatest Depression” The D-word: The depression has become something worse (AP) Obama Must Fire Geithner and Summers Gold Industry Officials Warn Of Depression Jim Rogers: Bailouts are destroying the US Economy Paulson Was Behind Bailout Martial Law Threat Fed Hides Destination Of $2 Trillion In Bailout Money PREVIOUS (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!

Celente: U.S. Has Entered “The Greatest Depression” The D-word: The depression has become something worse (AP) Obama Must Fire Geithner and Summers Gold Industry Officials Warn Of Depression Jim Rogers: Bailouts are destroying the US Economy Gold has longest losing streak since October U.S. auto sales fall as depression deepens Blockbuster seeks debt overhaul, shares halted MGM Mirage casino co. says it may default on debt (AP) A Banana Republic By 2012? Change for the Worse Obama Calls Bush On Troop Withdrawal Plan Geithner Says U.S. Financial Rescue ‘Might Cost More’ (maybe he can locate the $4 trillion missing at the fed and use that) Pension (substantial funding shortfalls) bombs going off Pennsylvania Rep. Rohrer Introduces Tenth Amendment Resolution Previous (3-2-09), analyst chatter: one analyst said investors just can’t take (the wall street fraud/bull sh_) it anymore and sees 5,000 on the DOW (too optimistic); another says worst levels not yet seen, but markets functioning…riiiiight…, more bad economic news, dividend cuts; another says the so-called plan changinging everyday, not stimulus but at best stabilization (doomed to fail), unrealistic expectations (that’s realistic), talks funny assets/accounting (that’s what helped get us here-the fraud), a world of hurt, hope for short-covering rallies…sounds like a plan…riiiiight; another who called the crash says worst bear market in history, if priced in gold market has fallen 80% and more decline to come, says stimulus/stabilization good money after bad and recipients with worst management (fraud, etc.) should rather be allowed to fail, treasury bond/dollar bubble, u.s. stocks still overvalued so sell, precious (money) metals and overseas markets better; and finally, mainstream analyst says gold/bonds but no stocks. Dow industrials fall below 7,000; lowest since ‘97 Buffett says economy in shambles losses on derivatives contracts tied to the stock market. Banks and economy to keep bears' grip on stocks Berkshire reports a 96 percent drop in 4Q profit Chart of the Week: GDP Worse than Expected (at Seeking Alpha) Time to Bury the Markets NYSE Suspends $1 Stock Price Minimum Economics of this Depression [$$] BofA Executive Got Housing Perks (at The Wall Street Journal Online) Madoff seeks to keep NYC penthouse, $62M in assets – Typical kike/jews Dow finishes below 7,000 for first time since '97 (AP) The D-word: The depression has become something worse (AP) [$$] At Merrill, Thinning Herd of Carrion (at The Wall Street Journal Online) AIG Will Receive More Aid, Bigger Loss... NYSE Euronext chief gets 2008 pay valued at $9.2M (AP) Asian stock markets tumble on worsening US slump Sources: AIG to get up to $30B more in Fed aid Moody's lowers ratings on Citi's Japan operations (at MarketWatch) Oil falls below $44 on bleak US GDP, AIG news States' budget woes will outlast the depression israeli media denounced for insulting the Prophet Israeli minister calls for assassination of top arab leader justifying action to eliminate/exterminate nazionist israel/israelis for the sake of world peace and justice as… 8 more civilians die in US drone raid Buffett Says Economy Will Be 'Shambles' in 2009, Likely 'Well Beyond'... BERKSHIRE has worst year... Iran says USA planning 'long-term stay' in Iraq... Kudlow: Obama Declares War on Investors, Entrepreneurs, Businesses, And More... Bankers: Stop trashing us... Wall Street slides after CITI-government deal... Sets Single-Day Trading Volume... STRUGGLING STATES LOOK TO UNORTHODOX TAXES... Iran says USA planning 'long-term stay' in Iraq... Warren Buffett Speaks: His Worst Year Ever – If you listened to him recently (I warned you not to) you’re down another 20-30% since his government shill/propaganda talk (did he really give away his fortune – maybe he just decided to lose it and bring everyone with him – senile, I say yes) r A Banana Republic By 2012? Change for the Worse Previous (2-27-09), modest losses relative to reality including news much worse than expected: ‘The economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into depression. The report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated last month which rallied stocks significantly to keep suckers suckered and commission dollars flowing. It also was considerably weaker than the 5.4 percent annualized decline economists expected’. ‘Economic data remains gloomy. Fourth quarter GDP was revised lower to reflect an annual rate of -6.2% versus a previously estimated -3.8%. The decrease in fourth quarter activity primarily reflected negative contributions from exports, personal consumption expenditures, equipment and software, and residential fixed investment’. US economy suffers sharp nosedive Economy moving in reverse faster than predicted Moody’s predicts default rate will exceed peaks hit in Great Depression Shares tumble across globe as figures reveal U.S. economy shrank 6% in last quarter - the fastest rate in 25 years Regulators close banks in Illinois, Nevada FDIC Approves ‘Emergency’ Fee on Banks to Bolster Reserves Banks and economy to keep bears' grip on stocks FDIC raising fees on banks, adds emergency fee (AP) AIG talks weigh securitizing life policies…..riiiiight!…: source BofA carries loans $44 billion above market value Citi, U.S. Reach Accord on a Third Bailout (at The Wall Street Journal Online) Tax hikes are coming -- but you already knew that Investors await Buffett letter as Berkshire hits 5-1/2 year lows Five reasons buying a home in 2009 is a bad idea Three Top Economists Agree 2009 Worst Financial Crisis/Depression Since Great Depression; Risks Increase if Right Steps are Not Taken (Business Wire) WORST MONTH SINCE 1933 Paulson Was Behind Bailout Martial Law Threat Urban Warfare Drills Linked To Coming Economic Rage CIA Adds Economy To Threat Updates Fed Hides Destination Of $2 Trillion In Bailout Money We Watch Now As Funds Get Vaporized Bob Chapman | Business will go on as usual in Washington and on Wall Street — as corrupt as ever. Moody’s predicts default rate will exceed peaks hit in Great Depression A bigger proportion of non-investment grade companies will go bust in the US and overseas in the coming years than during the Great Depression, according to Moody’s, one of the world’s foremost experts on credit. US economy suffers sharp nosedive BBC | The US economy shrank by 6.2% in the last three months of 2008, official figures have shown, a far sharper fall than had previously been reported. FDIC Approves ‘Emergency’ Fee on Banks to Bolster Reserves Bloomberg | The Federal Deposit Insurance Corp. will charge U.S. banks a one-time assessment and increase other fees to replenish its insurance fund, adding $27 billion in costs to an industry already hobbled by the financial crisis. Citigroup Shares Down 36% | The Treasury, which has provided a total of $45 billion to Citigroup, left the door open for the bank to seek additional government funding. Previous (2-26-09), Banks lost $26.2 billion last quarter, GM lost $10 billion past month, FDIC problem bank list grows to 252, u.s. broke but $3.5 trillion spending plan and $1.75 trillion budget deficit, etc., ‘FDIC reported that at the end of the fourth quarter its list of troubled institutions grew to 252 from 171 at the end of the third quarter. The latest data indicated January durable goods orders fell a more-than-expected 5.2%. Excluding transportation, durable goods fell 2.5%, which was also steeper than expected. January new home sales fell more than expected to an annualized rate of 309,000 units, which is a record low. Jobless claims continue to rise beyond expectations. Initial claims climbed 36,000 to 667,000 from the prior week. Continuing claims came in just below 5.03 million, up from nearly 5.00 million in the prior reading’. Americans receiving unemployment top 5 million Fannie Mae seeks $15.2B in US aid after 4Q loss $1.75T Deficit, Higher Taxes, "Bogus" Stimulus Obama’s Stimulus Bill is a Banker Contrived Debt Scam Obama’s War Machine Needs $800 Billion For 2009 A $1.75 TRILLION DEFICIT... Small Businesses To Suffer From Obama’s Tax Hike Obama’s Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011 ETF Advisers: Sell Into Market's Rally Paulson Was Behind Bailout Martial Law Threat Urban Warfare Drills Linked To Coming Economic Rage CIA Adds Economy To Threat Updates Fed Hides Destination Of $2 Trillion In Bailout Money US banks post first quarterly loss since 1990... Record Government Note Auction; Unprecedented amount of debt... More Fraud on Wall Street New York Times | WG Trading Company and Westridge Capital misappropriated funds from state and city pension funds, including Carnegie Mellon University and the University of Pittsburgh. Previous (2-25-09), suckers’ bear market/short-covering rally based on bull s**t/jawboning alone and bad news much worse than expected into the close to finish well off more realistic lows, to keep the suckers suckered so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Economic/trends/demographics forecaster/analyst Harry S. Dent says this Great Depression will bottom out (with no cognizable uptick till) early 2020’s, unemployment 14%-17%, 50%-60% decline in real estate values, dollar (and market) crash, etc. (close but no cigar), is realistic and starkly dismal in light of the convergance of major bubbles which are deflating. New b.s. talking point the convertible preferreds (all real analysts know to treat as converted said securities to account for dilution - and quite possibly nationalization), and then the so-called ‘stress-tests’ for banks…riiiiight!…read those flat lines. Money managers accused of $550 million fraud (Reuters) TARP Said to Be Ripe for Fraud Existing U.S. home sales, prices drop in January Gannett slashes dividend 90 pct, saving $325M ETF Advisers: Sell Into Market's Rally Paulson Was Behind Bailout Martial Law Threat Urban Warfare Drills Linked To Coming Economic Rage Fed Hides Destination Of $2 Trillion In Bailout Money U.S. Consumer Confidence Collapsed to Record Low The Market Is Not Your Friend Bernanke says depression to linger Housing Prices in 20 U.S. Cities Fall a Record 18.5% U.S. Economy: Consumer Confidence In Record Slump Ron Paul Grills Bernanke: “You Can’t Reinflate The Bubble” Stocks drop as Obama speech and housing data weigh Gold investors make 120pc return in four months Bailout Bank Blows Millions Partying in L.A. How Credit Default Swaps Brought Down the World Economy ‘Black Swan’ Author Sees Trouble Exceeding 1930s Majority Of U.S. States Join Sovereignty Movement, Assert 10th Amendment Rights New World Liberty | With the economy collapsing, it is a very real and immediate danger that the federal government can turn into a completely criminal and fascist government. Rahm Emanuel Doesn’t Pay Taxes, So Why Should You? Kurt Nimmo | Don’t expect Rahm Emanuel, Nancy Pelosi, Tim Geithner, Evan Bayh, and other minions of the elite to pay their “fair share.” After all, taxes are for the little people. Previous (2-24-09), suckers’ bear market/short-covering rally based on bull s**t/jawboning alone and bad news much worse than expected, to keep the suckers suckered so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Helicopter ben, the guy who said no recession even as now we know we were already in one (actually depression) told by handlers to be upbeat (how ‘bout just beat, burnt out, etc.) delivers still dire but sugar-coated for spin/consumption testimony/b.s.. Severe contraction…as in depression; recession/depression could end by end of year/beginning of 2010 if…and if his grandmother had wheels, she’d be a trolley car. Ridiculous bull s**t that got everyone here in the first place. Analyst chatter: talk about franchise value of banks ruined if nationalized, confidence at all-time low, end of 2010 before any recovery (if at all), orderly process of deleveraging, on defense till trends more believable; another-not there yet as contrarian indicators say otherwise and bearish industry view (newsletters); another- news bad as expected but confidence reading far worse than expected, downward momentum accelerated with occasional relief rallies at best; Housing Prices in 20 U.S. Cities Fall a Record 18.5% U.S. Economy: Consumer Confidence In Record Slump U.S. consumer confidence collapsed this month and home values plunged in December, the latest evidence of a deepening economic slump that will last well into 2010 and beyond. Analysts: New Era Of Chaos Has Taken Hold A wave of economists, investors and other financial experts issued a series of dire warnings concerning the global financial crisis over the weekend, stating that a new era of chaos has taken hold all over the globe. Paulson Was Behind Bailout Martial Law Threat Urban Warfare Drills Linked To Coming Economic Rage Fed Hides Destination Of $2 Trillion In Bailout Money U.S. Consumer Confidence Collapsed to Record Low The Market Is Not Your Friend Bernanke says depression to linger Get Ready for Mass Retail Closings Microsoft says no new cost cuts, shares hit 11-year low Stanford a cog in the U.S. intelligence dirty money laundering machine How the Economy was Lost Unemployment (already past 9% in reality) Will Pass 9% This Year: NABE SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Previous (2-23-09), even the frauds on wall street who should be prosecuted are not buying the rhetoric/b.s. which is very, very, etc., short on detail, ie., spending money the broke u.s. doesn’t have for bailouts, while cutting the deficit in half in 4 years, etc.,…..riiiiiight! What economists / analysts are saying: Zandi - rapidly eroding economy; analyst – ugly…lots of bull s**t, no specifics/details, not pretty picture, equity holders of financials wiped out prospectively; Financial Times Editor – markets at new lows, nationalize or not (defacto they’re already nationalized), AIG trading at 50 cents has received $80 billion in bailout funds and just records loss of $60 billion, dire; bank analyst – downward pressure on financials particularly as dilution taken into account, write-offs, more capital needed, securitization market down, down, down and more capital necessary for writedowns; analyst – vicious bear, no faith in government plan, dismal! . 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. Wall Street slides to 12-year low New U.S. stake in Citigroup will not calm realities/doubts AIG in talks with U.S. government, sees $60 billion loss: source Pinnacle West shares fall on earnings, outlook (AP) LaSalle Hotel shares fall on analyst outlook (AP) Harley-Davidson shares fall on sales worries / realities (AP) Major stock market indexes fall to 1997 levels and much further down to go given realities Micron Tech to cut up to 2,000 more jobs in Idaho Asian shares slump after Dow hits 1997 low (at MarketWatch) The S&P 500's Incredibly Shrinking Market Cap The more they do, the worse it gets Paulson Was Behind Bailout Martial Law Threat Fed Hides Destination Of $2 Trillion In Bailout Money The Great “Global Crisis of Maturity” and the New World Order World Financial System In A State Of Insolvency Urban Warfare Drills Linked To Coming Economic Rage Britain faces summer of rage Get Ready for Mass Retail Closings Yahoo Finance | About 220,000 stores will close this year in America. Editorials: Rewriting rules of global finance GLOBAL MARKETS-US stocks slide as bear grips harder, oil falls BACK TO 1997... State sends $1 food stamp checks to 250,000... Obama pledges to slash deficit - after increase... Rosy assumptions... Philadelphia newspapers' owner files for bankruptcy... AIG Seeks More US Funds As Record Loss Looms... Advisers readying bankruptcy financing for automakers... BANK MESS: HSBC CONSIDERS $20B CASH CALL FROM INVESTORS... Sentiment Overview: Pessimists Increase by 18% Stocks: Horrible Start to 2008, Worse in 2009 Ex-Senate aide charged in Abramoff scandal THE FAILED INFLUENCE GAME: Stimulus still aiding K Street Swiss party wants to punish USA for UBS bank probe... Developing... Japan stocks fall after lender seeks bankruptcy (AP) Gov't reportedly mulls dilution, more obfuscation, and more money down the rabbit hole by taking larger stake in Citi (AP) RBS prepares to unveil global downsizing plan Richard Russell: Bear Market Remains in Force Summary of Global Investment Returns Yearbook 2009 The New Depression - The Lessons of the 1930s Markets May be Said to be Oversold (Again), But Decisive Rally Won’t Be Forthcoming as Much Worse and Much More Selling to Come Philly newspaper owner files for Chapter 11 (AP)

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 week The Great Depression has Arrived- Collapsing American Dreams Defacto if not dejure nationalization realities hit Citi, BofA Soros sees no bottom for world financial "collapse" Trustee: Some Madoff stock trades were fiction Morgan Stanley offers $3 billion broker bonuses, Wells none (Reuters) Gold Hits $1,000 Ron Paul: Stimulus “Waste of Money” The Inconveninent Debt Gold 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 slide Wholesale inflation takes biggest jump in 6 months Dow Closes at New Bear-Market Low Dow Theorists spot a bear Rising debt will overwhelm Obama’s effort to rescue the economy Bank debt trades at distressed levels (at FT.com) 5 million Americans drawing jobless benefits AP IMPACT: Jobless hit with bank fees on benefits (AP) FBI tracks down Texas financier in fraud case (AP) FBI finds Allen Stanford in Virginia Stanford curried influence in DC: watchdog group PC makers' shares fall on worsening demand BofA and Citi shares fall on defacto or dejure nationalization near GE shares dip to lowest since 1995 Feb. could be worst month yet for jobless claims Fitch 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!

Not Just a Few Bad Apples - Corruption is Systemic in America Fed downgrades economic forecast for this year Fed says US economy will get worse in 2009 Bernanke cuts growth view, considers inflation target Hundreds seek their money as Stanford fallout spreads HP cuts full year outlook (Reuters) UBS to pay $780M, open secret Swiss bank records Billionaire's bank customers denied their deposits HP profit slumps 13 pct on weak PC and ink sales [$$] Dow ends little-changed amid slew of grim news (at The Wall Street Journal Online) The Bull's Case for Buying Gold ...starts, permits plunge to new record lowsSELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

Previous (2-17-09), modest losses relative to reality so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Analysts say not very encouraging, market saying stimulus will not work, lots of toxic assets still out their, nothing safe in bear market, oil to $80, gold appropriate hedge against deflation and inflation and deserves spot in portfolios, no turnaround anytime soon, and tough-sledding ahead. “…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 Joint Chiefs chairman calls fiscal calamity a bigger threat than any war GM seeks up to $30B in aid, to cut 47,000 jobs (AP) GM and Chrysler seek nearly $22 billion more in aid Stocks sink to November lows on depression fears U.S. charges Allen Stanford with "massive" fraud Reality about expensive, flawed, failed stimulus drag stocks down sharply (AP) It’s Getting Ugly: Economist Says Hoard Gold & Scotch Paul Joseph Watson | Williams predicts hyperinflationary depression will mean a $100 dollar bill is worth less than toilet paper. 65 Trillion - U.S. Financial Obligations Exceed The Entire World’s GDP A “Monetary Stalingrad” is on its way to Europe Kansas suspends income tax refunds, may miss payroll Europe’s economic slump deeper than expected Total desperation by frauds on wall street. One analyst previously pointed out there has been not one prosecution thus far and the frauds on wall street should be prosecuted. 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. Indeed, 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., so SELL /SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! GM seeks up to $30B in aid, to cut 47,000 jobs (AP) America's Insolvent Banks (at Seeking Alpha) Gold Jumps to 7-Month High as Investors Seek to Preserve Wealth Stocks sink to 3-month lows GM and Chrysler seek nearly $22 billion more in aid Stocks sink to November lows on depression fears U.S. charges Allen Stanford with "massive" fraud Reality about expensive, flawed, failed stimulus drag stocks down sharply (AP) It’s Getting Ugly: Economist Says Hoard Gold & Scotch Paul Joseph Watson | Williams predicts hyperinflationary depression will mean a $100 dollar bill is worth less than toilet paper. 65 Trillion - U.S. Financial Obligations Exceed The Entire World’s GDP A “Monetary Stalingrad” is on its way to Europe Kansas suspends income tax refunds, may miss payroll Europe’s economic slump deeper than expected WORLD TO STAY IN SLUMP Previous(2-13-09), modest losses relative to reality inasmuch as outlook remains bleak with data (though sugar-coated, inflated, false to provide more favorable b.s. talk points) dismal as consumer confidence down sharply ((56.2 vs. 61.2 previous, job losses continue as do earnings declines/losses, bankruptcies, defaults, etc., so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Analysts negative regarding level of uncertainty, skepticism regarding more stimulus/bailout money down the rabbit hole, longer-term considerations of deflation/hyperinflation, and particularly the valuation of assets in any of the bailouts, etc.. Oil inventories high but production cuts will weigh heavily later. [$$] Long-Term Dow Chart Suggests More Downside Large U.S. banks on edge of insolvency, experts say Regulators close banks in Neb., Fla., Ill., Ore. GOLD Separating from the US DOLLAR-Banks insolvent Another $3T of U.S. Debt: Don't Count on Foreigners to Pay for Our Bailouts U.S. auto suppliers seek $18.5 billion in government aid How Banks Are Worsening the Foreclosure Crisis Stocks fall as investors can't shake economic woes Huge stimulus bill only the beginning of the end, substantial investment in Weimar dollar printing presses/operators envisioned: Obama Will the stimulus actually stimulate? Economists say no This is 1930 all over again and far worse Federal obligations exceed world GDP... Euro Zone Sees Biggest Contraction on Record Previous (2-12-09), suckers’ bear market rally with 200+ point upswing into the close based on b**l s**t alone on continuing bad news including increasingly high job loss/unemployment numbers (though vastly understated), unexpected (euphemistic for false) +1% January retail, and leak of yet the new latest, greatest, economic “stimulus”/subsidy, etc., so especially great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! 23% decrease in wealth in u.s. and much further to go. Fed printing worthless Weimar dollars like mad (ultimately, inevitably hyperinflationary) while treasury securities bubble gets bigger (stay away from treasuries – TIPS/treasury inflation protected securities only). Total desperation by frauds on wall street. One analyst previously pointed out there has been not one prosecution thus far and the frauds on wall street should be prosecuted. 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. Indeed, 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.. Obama’s Stimulus Not Enough to Avert Biggest GDP Drop Since 1946 Bloomberg | Obama’s stimulus plan will be insufficient to avert the biggest U.S. economic decline since 1946 as consumer spending posts its longest slide on record. Marc Faber: U S will default on debt or enter hyperinflation YouTube | Mr. Faber predicts the Zimbabwe model for the United States. Home Prices Slide 12%, Most on Record, as Foreclosures Drain Value... Deluge of Financial Calamities Looming by Mid-March Retail sales rebound, jobless claims stay high ABCNEWS: CATERPILLAR CEO contradicts Obama: 'We're going to have more layoffs before we start hiring again'... Retail sales rise unexpectedly (false report) in January Wells Fargo charge boosts fourth quarter loss (Reuters) Oh yet another new mortgage plan news is bs purported reason for spurring late suckers bear market stock rally The Market and geithner's Empty Suit No Plan SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Previous (2-11-09), suckers bear market rally into the close based upon the bailout/stimulus fairy tale. Reality speaks for itself so the following latest news links (job loss/cut anouncements too numerous for inclusion and real numbers/data worse than false/gov’t/shill reports) plus previous 2-10-09 assessment which follows. ‘WORST ECONOMIC COLLAPSE EVER’ In 2009 were going to see the worst economic collapse ever, the Greatest Depression, says Gerald Celente, U.S. trend forecaster. He believes its going to be very violent in the U.S., including there being a tax revolt. This DEPRESSION will last 23-26 YEARS! Government is POWERLESS! We are facing a Depression that will last 23-26 years. The response of government is going to seal our fate because they cannot learn from the past and will make the same mistakes that every politician has made before them. Economic Rescue Plan: More Debt, More Dollar Devaluation And More Government Larry Summers: Fox Guarding The Henhouse COMEX Crash To Send Gold To $3,000 Gold jumps 3 pct to 6-1/2 mth high on risk aversion Highest Unemployment in Three Decades Economic Rescue Plan: More Debt, More Dollar Devaluation And More Government PAPER: European banks sitting on $24 trillion of toxic assets...The Day After: Stocks Struggle to Overcome Geithner's Stumble, RIM's Warning Why Americans Should Care More About the $2-$5T Bailout vs. the $789B Stimulus Ireland to take control of banks... Popular Rage Grows as Global Crisis Worsens Previously (2-10-09) only modest drop relative to reality as pointed out by analyst Frank Cochrane who 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. There seems near unanimity by astute people in the know that timothy (only the little people pay taxes) geithner is just not up to the job. Indeed, his apparent Freudian slip “arrest it” must have been a manifestation of his guilt for purposely evading taxes [he still after audit and before confirmation has not paid the taxes he asserted as time-barred for collection (should have been arrested)], and then there’s the $4 trillion missing at the New York fed (and hence his prospective arrest), and now even more obfuscation with regard to taxpayer funds (possible future arrest?). A career bureaucrat, one economist/analyst points out that tiny tim geithner is not an economist and his so-called plan is without a plan yet we’re now talking in trillions. Helicopter ben bernanke paints realistically bleak outlook [though rosier than reality The Economist, a Widely Respected and Authoritative Financial/Economic Publication: U.S. In Depression, Not Recession Video: Crash Will be Worse than Great Depression Great Recession/Depression of 2008, et seq., Worse Than All Others IMF warns of Great Depression Stocks Could Drop 20%, No Safe Haven: Dr. Reality Celente Correctly Predicts Revolution, Food Riots, Tax Rebellions By 2012 Former chief economist: U.S. in a depression Merrill Lynch’s Chief Economist: We’re Already In a Depression Ray Dalio: A Long and Painful Depression - Barron's Interview Trendsresearch.com forecast for 2009 , job losses like mad, and don’t believe the understated unemployment rates] seems flustered, impotent but really should allow alan greenspan his due for the current debacle. How about charging, arresting, and prosecuting the perpetrators of the massive fraud instead of using taxpayer funds to bail them out (especially since they’re now buying the fraudulent, worthless securities as well as talking funny books – they already have the funny money being printed like mad). Especially great opportunity to SELL INTO RALLIES/STRENGTH/TAKE PROFITS/SELL WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! . UBS cuts jobs after fourth-quarter loss (Reuters) UBS to slash more jobs after reporting $7 billion loss Blue Chip poll cuts forecast for second half 2009 (Reuters) GM cuts 10000 salaried jobs, trims employees' pay Sirius preparing possible bankruptcy filing: report Stocks sink over 4 percent on bank plan apprehension U.S. offers $2 trillion bank plan but stocks slump GE transport unit to cut or furlough 1,550 workers Asia stocks fall amid skepticism over US bank plan (AP) $3 trillion! — Senate, Fed, Treasury attack crisis [$$] Foreclosure 'Tsunami' Hits Mortgage-Servicing Firms (at The Wall Street Journal Online) Senate Passes $819 Billion Economic Stimulus Bill Bernanke Begins ‘Thorough Review’ of Fed Disclosure Stocks Tumble as Bailout Plan Is Unveiled Previous (2-9-09), suckers’ bear market/short-covering rally into the close to end mixed based on continuing bad news including new job cuts/losses including 20,000 from Nissan, etc., so still great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Barron’s: Economist/analyst says depression has long way to go and lot’s of prospective pain Ray Dalio: A Long and Painful Depression - Barron's Interview . Analysts talk up adage, ‘buy on rumor, sell on news’ regarding ie., bailouts, bailouts, bailouts, with money they don’t have as total now approaches $9.7 trillion (printing those worthless Weimar dollars like mad, ultimately/inevitably hyperinflationary), buy gold on dips; short-covering rally via irrational exuberance induced bailout news, downside volatility, dilution (stock issued will dilute EPS), stimulus won’t work, lottery stocks (financials) based on short-term blips based on b.s./bailout news alone. Ray Dalio: A Long and Painful Depression - Barron's Interview Financial plan won't include "bad bank": TV One in eight lenders may fail, RBC says One Scary Unemployment Chart Bring back the guillotine… for bankers Geithner says G7 should act ‘promptly’ on economy We’re moving close to ‘a bailout-based economy’ Protectionism, unemployment and riots as the global slump deepens Obama’s Change: Expanding the Power of the NSC and Shadow Government Fitch cuts BofA ratings (at bizjournals.com) House Appropriations Chairman on Stimulus Waste: 'So What'... CBO: Stimulus harmful over long haul... LG Elec to cut $2.2 billion costs as recession bites (Reuters) Previous (2-6-09), suckers’ bear market rally based on especially bad news, viz., ‘depression-battered employers eliminated 598,000 jobs in January, the most since the end of 1974, bringing unemployment rate to 7.6 percent, the grim figures being further proof that the nation's job climate is deteriorating at an alarming clip with no end in sight.’ Economy so weak oil demand and price down but oil stocks rallied in the alice-in-wonderland fraudulent world of wall street. 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., so especially great opportunity to SELL/TAKE PROFITS SINCE MUCH, MUCH WORSE TO COME! Real Unemployment Figures Double Those Reported By Labor Department Paul Joseph Watson | 7.6% is actually over 15% - just 9% shy of figure at height of great depression. Financial Coup d’Etat Rep. Kanjorski: $550 Billion Disappeared in “Electronic Run On the Banks” U.S. job losses accelerate Fed's Yellen sees dynamics similar to Depression Regulators close 3 more U.S. banks Consumer credit falls more than expected in Dec. Peter Schiff: Stimulus Bill Will Lead to “Unmitigated Disaster” Nearly 600K jobs lost in Jan.; more pain ahead Peter Schiff: Why I'm Right About the Substantial Further Decline and My Critics Are All Wrong There is a high chance a majority of the States within the United States of America could file for Chapter 9 bankruptcy. There are currently 46 states with high budget deficits, Arizona being one of them. 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., so great opportunity to SELL INTO RALLIES/STRENGTH/TAKE PROFITS/SELL WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Previous day’s (2-5-09) news as bad, ie., record level monthly unemployment numbers much worse than expected 626,000, factory orders down, IMF says no breakthrough in stabilizing financial sector, etc., but irrational exuberance on bailout talk and prospect of not only funny money but now funny assets with proposed new accounting rules to hide financial reality (dismal) so great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! U.S. jobless claims surge in latest week to 626,000 Parallels With the Great Depression Obama Warns of ‘Catastrophe:’ What Happened to ‘Hope’ and ‘Change?’ NEWS CORP loses $6.4 billion... ...writedowns GE chief warns on USA depression threat... Watchdog: Treasury overpaid for bank stocks... USA Must Spend Trillions they don’t have to prevent a long-lasting Depression'... GERMAN BANK FIRST LOSS SINCE WWII OWING TO AMERICAN SECURITIES FRAUD DEBACLE; REJECTS STATE AID... MCCLATCHY reports loss on newspapers' decline, plans deep cost cuts... Treasury in plans for record debt sale... Accounting rule change for more cook the books fraud and bailout hopes spur Wall St. rally New jobless claims surge to 26-year high Auto suppliers seek rescue as crisis deepens Art Hogan refers to the prevalence of bailout rhetoric, financials (among others) under pressure because there have been twice as many downside surprises on the earnings front with either no guidance or bad outlook, and cites new trading range for oil at $40 - $50. Kraft, bank worries knock Wall St; Cisco hit late Cisco outlook misses expectations The Bad Bank Assets Proposal: Even Worse Than You Imagined TIMEWARNER the troubled, horribly managed media company swings to 4Q loss on hefty writedown... UBS Boosts ‘09 Gold Forecast to $1,000 One analyst previously pointed out there has been not one prosecution thus far and the frauds on wall street should be prosecuted. Indeed, 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.. Another Prominent Economist Forecasts Depression, Says Gold To Hit $2000 Auto sales hit 27-year low US auto sales plunge 37 percent to 26-year low Motorola's woes pile up in $3.6B quarterly loss Disney 1Q profits drop 32 percent; shares slide Wells Fargo defends, then cancels Vegas junket Electronic Arts posts wider loss, huge layoffs announced, hurt by charges Fed Secretly Lends $2 Trillion to Banksters without Oversight JAPAN: “There has never been data this bad for any major economy - even in the great Depression”; “We are literally looking at the unimaginable” Obama predicts more bank failures California goes broke, halts $3.5 billion in payments Previous, consumer spending down (-1%), manufacturing activity down, construction spending down 5.1% and much worse than expected. Problems ahead for bonds (currency risk, low yield, etc.) including treasuries (bubble), interest rates prospectively higher, bad real estate market into 2010 as banks play catch up on foreclosed properties, with top end getting hit and weaker rental market to boot. “…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…”. Personal bankruptcies soar 33% More Economists Say Crisis Is Worse Than Great Depression Steve Watson | Ominous headlines have prominent analysts spelling out disaster. Macy's cuts 7,000 jobs, slashes dividend Factory decline, consumer spending drops Morgan Stanley plans up to 4 percent in job cuts Joint Chiefs chairman calls fiscal calamity a bigger threat than any war WALL ST ALREADY DOWN 10% FOR YEAR... Folding dealers shock car buyers with unpaid liens (AP) GlaxoSmithkline to cut 6,000 jobs: report The New Economic Reality …do not think we should be incurring trillions in debt for an ill-conceived or even a properly conceived plan. We cannot spend that much. OUR PROBLEM WAS SPENDING MORE THAN WE MADE SO THE ANSWER CANNOT BE THE GOVERNMENT ALLOWING US TO SPEND MORE THAN WE MAKE. Joseph Stiglitz, a Nobel laureate, can tell you better than me, and he thinks we are asking for major problems. Florida, Maryland, Utah Banks Seized Amid Deepening Financial Crisis... Worse than the Great Depression Charts Predict: Oil May Whip Back up to $100 Previous session, 31st u.s. bank to fail, 6th this year, Economy's new plunge is worst in quarter-century (AP) as GDP falls 3.8% defying much worse/higher private/real forecasts/estimates; bad economy, bad economic data, bad real estate market; defensive non-equity investing recommended, ie., short-term bonds, single short ETF hedge funds, etc.. One analyst points out there has been not one prosecution thus far and they should be prosecuted. Indeed, 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.. GDP sees biggest drop in 27 years The Ugly Truth: The American Economy is Not Coming Back Economy, bank woes drag market to worst January ever Economy's new plunge is worst in quarter-century Stocks' January drop isn't welcome sign for 2009 [$$] January Was Dow's Worst In 113 Years (at The Wall Street Journal Online) Economy's new plunge is worst in quarter-century (AP) Worst January ever for Dow, S&P 500 US Stocks Drop, Capping Market’s Worst January, on Economy Bloomberg US Stocks Off; Financials, Industrials Lead DJIA Under 8000 MarketWatch US Economy Will Keep Sliding After Shrinking Most Since 1982 U.S. Eyes Two-Part Bailout for Banks 46 Of 50 States Could File Bankruptcy In 2009-2010 Economic crisis has put the world “on the road to serious social instability” Gold rallies 2 pct on haven buying, hits euro high Worst January on Record for Stocks... Previous session, at least Obama referred to the outrageousness of the wall street perps/frauds who created the crisis, got wealthier in so doing at other peoples expense/damage, received taxpayer bailout funds because of what crimes they did, and now reportedly took huge bonuses ($18 billion) for failed and fraudulent performance; but if he thinks shaming them into better behavior is effective, then he is a fool. One analyst points out there has been not one prosecution thus far and they should be prosecuted. Indeed, 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.. All bad news: all-time record continuing unemployment claims, durable goods orders down more than expected, new home sales down record levels (-37%), banking system insolvent, long-term treasuy bubble about to burst, DEPRESSION, etc.; December durable goods orders declined 2.6%, marking the fifth straight monthly decline. Excluding transportation, orders were down 3.6%. The drop in both readings was also steeper than expected. In other economic news, December new home sales declined more than expected, falling almost 15% from the prior month. The supply of new homes is at an all-time high of nearly 13 months, based on the pace of current sales. Demand for new homes remains weak as weak labor markets limit buyers. Initial jobless claims for the week ended Jan. 24 increased modestly to 588,000, which exceeded the 575,000 claims expected. Continuing claims climbed to 4.78 million, which is the highest level for continuing claims in 40 years. More Economists Say Crisis Is Worse Than Great Depression Steve Watson | Ominous headlines have prominent analysts spelling out disaster. Jobless Sheep Fed Reserve Fails to Reflate the US Banking System Signs of deepening economic woes slam Wall St. Americans receiving jobless benefits hits record... [$$] Ex-Merrill Executives Got Burned by Madoff (at The Wall Street Journal Online) Disney plans 5 pct job cuts at ABC group US new jobless claims up,continued claims a record Workers receiving unemployment at 25-year high Obama calls $18B in Wall Street bonuses 'shameful’ – Is that it? Is that all there is? What about illegal as the perpetrators of the massive fraud receive taxpayer bailout funds …for their bonuses.' Japanese output falls at record pace Ford posts $14.6B 2008 loss, near $6 billion loss for quarter, still won't seek aid Merrill Lynch’s Chief Economist: We’re Already In a Depression Stocks Could Drop 20%, No Safe Haven: Dr. Reality MURDOCH: Crisis Worsening, 'Drastic Action' Needed... Stiffed: Why are bailed-out banks helping Pfizer buy Wyeth? Previous, suckers’ bear market ralley based on b**l s**t alone, viz., the now fabled big bad wolf bank to eat all the so-called toxic debt at taxpayer expense (for the economy- what a fairy tale), etc., so especially great opportunity to SELL/SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! All bad news continues: Boeing to cut 10,000 jobs, AOL 700, Starbucks 6,700 , and on and on, the list is long, continues, and is growing, Warning over collapse in capital flows Telegraph | The world economy will shrink this year for the first time since the Second World War, warns the gloomiest forecast yet delivered by a major international institutional. MERRILL LYNCH’S CHIEF ECONOMIST: WE’RE ALREADY IN A DEPRESSION Stocks Could Drop 20%, No Safe Haven: Dr. Reality World growth ‘worst for 60 years’ Mass layoffs surge in 2008, continue at rapid pace (AP) 'American consumer can no longer act as motor of global economy'... Analyst Ciovacco sums it up thusly: …We have seen many of these bailout inspired "feel good" days during the bear market. The market cheered the bailout out of Bear Sterns, only to retrace all the gains while moving to lower lows. When Fannie and Freddie were bailed out by you and me (taxpayers), the market "felt good" only to move on to lower lows and more losses. When AIG was bailout out by - you guessed it, you and me, it was seen as a positive. Stocks went on to make new lows. TARP was hailed by the markets as the answer to all our problems - stocks moved higher in anticipation, then made new lows. When the formerly "big" three were given government loans, the market breathed a sigh of relief - then, you guessed it, moved lower.Here we go again. The “bad bank” is this morning’s feel good story. The futures are higher on “speculation” the government will set up a bad bank. The problem is a familiar one for money managers - we do not know what the rules are and how the "bad bank" will be set up. Will it be good for shareholders in banks? Will it be bad for shareholders in banks? We are not sure because we have no details on the latest bailout, only speculation and a few sound bites. The basic goal of the bad bank according to this morning’s news reports is to "get lending going again". In an overleveraged world, is more credit really the answer? I thought too much credit was the problem…Previous, what are they drinking, smoking, snorting on wall street with suckers’ bear market rally on decisively bad news; viz., consumer confidence at lowest level ever recorded (37.7) Consumer Confidence Slides to Record Low in January , 18% plunge in home prices as per highly regarded Case/Shiller Index, Retail Federation gives bad retail outlook, layoffs du jour galore, etc., and even as oil plunged on the bad economic data, oil stocks rallied…riiiiight! What, they worry…hell no…they work for wallstreet/government. They’ll still get their commissions on the way down and maybe stick you with their over-priced dogs as well. Same modus operandi as in January et seq, 2008 when they sucked in the suckers who this time (fool you twice, shame on you) will deserve to be burned for wall street commissions/ compensation/ bonuses’ sake as in the year just passed. 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., so great opportunity to SELL INTO RALLIES/STRENGTH/TAKE PROFITS/SELL WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Bank bailout could cost $4 trillion CEO confidence plunges around the globe Consumer mood at record lows, house prices sag Corning slashes up to 4,900 jobs to cut costs Moody's says could cut GE's triple-A credit rating Target eliminates positions amid weak sales Nation's economic mood darkens as more jobs vanish S&P index shows plunge in November home prices Yahoo posts higher profit but outlook weak Yahoo suffers 4Q loss, but tops analyst views IBM quietly cuts thousands of jobs Economy in free fall in fourth quarter Companies in U.S. to Slash More Jobs, Business Economists Say military spending is crippling america Previously, wall street frauds’ nirvana (commissioning a large incline then decline then suckers’ bear market rally into the close incline) at just a program loop, button push, mouse click away based on bull s**t alone and ‘Little Shop of Horrors’ viz., wall street vegetables clamoring ‘feed me, feed me’ with hopes for taxpayer bailout funds and short-covering bear market rally.. Motek’s experts: One land of fruits and nuts politician too many for a business hour; there will be no further comments relative to Frank Motek’s knx1070am caleefornia business hour inasmuch as the show has become a bit too parochial and limited in scope. 68,000 new job cuts this day alone. Existing home sales on foreclosures up 6.5% so new home sellers rally…riiiight!...Preposterous!...Leading indicators allegedly up .3% on increase in money supply (hyperinflationary)…Riiiiight! NY financier arrested in purported $400 million scam Reuters Job-killing depression racks up more layoff victims Economy in free fall in fourth quarter FANNIE to Seek Up to $16 Billion in Emergency Treasury Aid to Stay Afloat... Gloom deepens as 75,000 global jobs go... Gold pushes above $900 in buying spree; Yellow metal posts all-time highs in euro and sterling... Economy in free fall in fourth quarter Previous, mixed finish on relatively light volume defies reality with another near 200 point swing to the upside on suckers’ bear market rally into the close to keep suckers suckered on decisively bad news so sell into rallies/strength/take profits/sell while you still can since much, much worse to come. Motek experts: Art Hogan points to volatility, lots of headwinds for market, magnitude of the worse than expected results, doubling underestimated earnings to downside and no guidance indicative of lack of belief in efficacy of stimulus, and lag effect concerning stimulus which will help but not soon enough. Investment analyst says P/E ratios for stocks much too pricey, cite S&P single digits in milder recessions past hence way over-valued at 15 P/E now. GE profit down 44 percent Earnings and depression batter world stocks Britain officially slips into recession Schlumberger 4Q tumbles; sees rough year ahead Harley to cut 1,100 jobs as 4Q profit falls Xerox 4Q profit plunges, misses Wall Street view (AP) 2009 Heralds “A New Age Of Rebellion” Geithner's failure to pay taxes completely intentional Misguided Spending Will Only Take Us Deeper Into Depression Poor earnings, opaque forecasts weigh on stocks (AP) Freddie Mac to ask for billions more in funds Freddie Mac to ask government for another $30-$35 billion Brower Piven Encourages Investors Who Have Losses in Excess of $500,000 From Investment in Bank of America Corporation to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the March 23, 2009 (Marketwire) Capital One results suggest gloomy 2009 for credit card industry Wall Street's culture of entitlement hard to shake “The stock market has been bluffing investors for decades. The market's indiscernible jolts have been particularly pronounced and painful in recent months.” Simon Maierhofer“Unprecedented” Job Cuts in Works at World’s Largest Automaker [video] Gold Surges VIDEO: THE GLOBAL FINANCIAL CRISIS - Montreal Lecture: The Great Depression of the 21st Century Motek experts: Discuss new unemployment claims at 589,000 match 26 year high, 4.6 million continuing u.e. claims, wall street strategist (actually just another wall street fraud) thain at last minutes before BofA bailout/takeover does compensation/bonuses/expenditures and gets axed, all-time low for housing starts with downsides well into 2010, job losses trend to accelerate well into second half 2009. Analyst says near term increased uncertainty, gamble, financials undercapitalized, recommends risk adjusted/barely below investment grade junk bund funds (high ror) and gold mining etf’s while warning long-term treasuries to take a hit. Reporter discusses negative I.T./pc market, spending and job cuts and absence of forward-looking guidance. Worsening signs for Apple with slowdown in pc sales and reliance on retail/pricing. Currency expert says problems serious, gov’t needs to raise $2 trillion, crowd out private sector, increase cost of money, fanny/freddy, government replacing private mortgage lending with negative implications. Frank congratulates Paul Kangus on Nightly Business Report 30 year anniversary where he began his business reporting career. Just The Early Stages of Economic and Financial Collapse Jobless claims surge, housing starts tumble Back In Reds After Economic Data... Bank results plummet... Angry customer rammed bank with pickup... GOOGLE PROFIT SLIPS FOR FIRST TIME... MICROSOFT stuns with profit miss, job cuts... Roubini: Banking System is “Bankrupt”, “Effectively Insolvent” Previous, wall street frauds’ nirvana (commissioning a huge decline then a huge incline) at just a program loop, button push, mouse click away based on bull s**t alone and ‘Little (wall street) Shop of Horrors’ viz., wall street vegetables clamoring ‘feed me, feed me’ with high (what are they smoking, drinking, snorting) hopes for taxpayer bailout funds and short-covering bear market rally. 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., so great opportunity to SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME. Motek’s experts: Analyst/options/speculator talks roller coaster ride on wall street regardless of results, banks still in trouble with dilution via government takeovers, talks lessons…please, give us a break…, then risky strategies, ie., risky bonds into riskier equities as if that isn’t that how we got into the continuing mess. Only-the-little-people-pay-taxes geithner, a co-architect of the current mess said food lines long and getting longer even as he dodges taxes (purposefully…after audit and as currently pending appointment, paid back taxes but scofflawed time-barred taxes owed), while economist says geithner a scofflaw and stimulus just more pork. Geithner was “involved in just about every flawed bailout” of the Bush era (On capital hill they were afraid to ask the question as to where is that missing $4 trillion at he ny federal reserve bank which is defacto complicity) Financial Times editor says dramatic prospective action will be very unpleasant for shareholders. S&P 500 Q408 Earnings Now Expected to Fall 28.2% Royal Bank of Scotland to Record $41 Billion loss, State Street profits down 71%, Bad news across the board as Worst Inauguration Day Drop in Dow Industrial History... Roubini Predicts U.S. Losses May Reach $3.6 Trillion Prominent Economist: Crisis Caused By Government Interventions Motek’s experts:Land of fruits and nuts actor/entertainer/speculator/sometimes economist Ben Stein [who previously took a page out of GM’s playbook by lambasting Fortune Magazine (you might recall some two decades ago that Fortune warned of GM managerial ineptitude to which GM responded with outrage and withdrew all advertising and revenue to Fortune thereby in retaliation - if only they had listened) for saying caleefornia is number 1, numero uno ….. as prospectively worse real estate market in the nation, the same Ben Stein who poo-pooed Peter Shiff’s correct prediction of market crash, but did correctly state fed policies hyperinflationary, and also just criticized Shiff’s recent prognostication ( he previously had to apologize to Shiff having done wrongly so before- his criticism of Peter Shiff for warning of this debacle years ago). He throws out a couple of economic terms (demand pull/cost push inflationary terms) to buttress his criticism of Shiff but he’s just out to lunch in citing the absence of demand as militating against Shiff’s inflationary argument since history (and even currently, i.e., zimbabwee) is replete with examples of low demand and or impoverished nations that have over-printed their currencies with hyperinflationary results as will occur in u.s.). Stein should be on the Strip doing stand-up (comedy). He is a joke!] while commenting on the inaugural address (who cares…what do you expect them to say…all talk is cheap in fraudulent america particularly) says in need of specifics, says because he can’t do taxes geithner doesn’t have to, talks gov’t guarantees on loans except for fraud, bad banks/financials, no bottom. Analyst says things getting worse not better, bad equity ratios, banks not sufficiently capitalized, unemployment/job losses yet to hit so worst to come. Economist says recession/depression with 500,000 job losses per month, housing/stock declines, bad bank bailouts with taxpayer money bad idea/bad deal, hopes on stimulus. Peter Shiff says they buy on rumor and sell on fact/reality, TARP/government spending the problem, new lows for financials, eventual dollar collapse, bailing out/subsidizing incompetent high paid executives, get out of any assets connected to u.s., buy gold. Roubini Predicts U.S. Losses May Reach $3.6 Trillion Bloomberg | U.S. financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is effectively insolvent. Prominent Economist: Crisis Caused By Government Interventions Steve Watson | People who created the problem are now in charge. Previously, a big suckers’ depression era rally of near 200 points into the close to keep suckers sucked in while churning and earning those commission dollars on decisively bad news (ie., circuit city liquidates/sheds 30,000 jobs, more job cut announcements, manufacturing down 2%, cpi down .7% on lower gas/oil prices but watch for inevitable hyperinflationary effect of worthless Weimar dollars they’re printing like mad, Citigroup -- after suffering a loss of $8.29 billion, its fifth straight quarterly deficit -- is reorganizing into Citicorp and Citi Holdings—what a joke; first will focus on traditional banking around the world, while the second will hold the company's riskier assets and tougher-to-manage ventures; Bank of America slides to 4Q loss; gets more ‘down the rabbit hole’ taxpayer money; how pathetic, unemployment claims at 54,000 for week, 524,000 for prior month, 4.5 million collecting unemployment/64% increase, foreclosures for December up 17%/2nd worst on record and high for ordinarily slow December, etc.), U.S. foreclosure filings in 2008 rose 81% from 2007 , 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., so SELL INTO RALLIES/STRENGTH/TAKE PROFITS/SELL WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME. Retail sales much worse than expected -2.7% and double (100% worse) expected decline with financial sector usual suspects providing other dose of bad news, along with beige book which cites weakness in all districts. Job cuts, job cuts, job cuts, and Jobs cut work schedule with medical leave till June, 2009. Oil inventories up however since economy is so bad demand has substantially weakened. What usually either way would have derailed prospective nominees in past, viz., illegal nannies, failure to pay taxes, etc., has rallied defense of geithner TAX MESS: Panel delays hearing on Obama's Treasury choice..., the new york fed man ( Fed Mob Boss Geithner’s Confirmation Sidelined - too n.y. jewish to fail or be held accountable, in fairness there’s also trump and alito, and bush and clinton, etc., all of whom seem impervious to the laws and rules of civilized governance; owe, oh! how the mighty have fallen, including meaningfully lawless america). Given the state of the nation, who can rationally defend those experienced with having caused the crisis in the first instance (there is the matter of course of campaign finance bribery). HOW ABOUT ASKING GEITHNER ABOUT THE MISSING $4 TRILLION AT N.Y. FED BANK, WHO STOLE IT, ETC., AS A PRE-CONDITION TO HIM EVEN BEING CONSIDERED! THROW THEM, THE FED, WALL STREET FRAUDS, ETC., IN GITMO; THEY’RE CERTAINLY ECONOMIC TERRORISTS, FRAUDS, THIEVES WHO’VE DONE FAR GREATER DAMAGE TO AMERICA THAN ALL AMERICA’S ENEMIES COMBINED. Typical wall street jew madoff will just have to suffer his bail days in his $7.5 million n.y. penthouse apartment. $700-Billion Bailout Lacks Transparency, Accountability, Congressional Panel Says Motek’s (Frank still out but returns on Monday, but will his program still be there after decimating week) experts: Senile Wedbush from the land of fruits and nuts to his credit refers to the extent financial scenario by the “D” for Depression word (he very well may have been around to have experienced the first Great Depression) and borrows refrain from old Springfield song of ‘ Wishin’ and Hopin’ ’…riiiight…Start your own company, ie., apple stands (candy, caramel, or plain); land of fruits and nuts better stick with a taco or tamale stand; hot dog stands…riiiiight! (Previous) Hugh Johnson says earnings recession and lots of going out of business signs. Retail analyst says lots of bankruptcy filings and store closures particularly in select regional/female apparel/jewelry. Hugh Johnson, analyst, says Alcoa much worse than expected a wake up call, earnings below expectations, widespread downturn but much more difficult to forecast than ever (welcomed obfuscation so they can talk the talk and sucker you), oil speculators still in play, bailouts old news but enormous deficits/problems therefrom. Investors Business Daily editor, spend and cut taxes, TARP money not enough, $485.2 record deficit, deficits will continue to grow, will catch up to u.s., long term better…riiiiight…how ‘bout in long term as per keynes we’ll all be dead…if you’d have listened to equities oriented IBD you’d probably be broke by now even if you were as they seem to presume a trader. Analyst Gabriel Isdumb says eventually things will be better…yeah…riiiiight!…right after the depression has run it’s course. Autonation expert says the worst conditions he’s ever seen which he further describes as appalling. All news bad and worse than expected (ie., Alcoa, Citi which received $45 billion in bailout funds and lost $20 billion, etc.). Former chief economist: U.S. in a depression The U.S. Economy is being Marched to the Gallows Andrew Hughes | Predictions of hyperinflation, dollar decline and civil unrest. No Brainer: Bankster Bailout is Unconstitutional Kurt Nimmo | A world system of financial control in private hands will begin the process of delivering feudalism to the American people. The Economy Is in a Depression The economy contracted at about a 5% annual rate in the fourth quarter. Bank of America to receive additional $20 billion International Herald Tribune | The second lifeline brings the government’s total stake in Bank of America to $45 billion and makes it the bank’s largest shareholder, with a stake of about 6 percent. Counterfeiting? Bank of England able to print money without having legally to declare it Bank of America to Get Billions More From Treasury Washington Post | The Treasury Department plans to invest billions of dollars in Bank of America to help the company absorb troubled investment bank Merrill Lynch. Citigroup -- after suffering a loss of $8.29 billion, its fifth straight quarterly deficit -- is reorganizing into Citicorp and Citi Holdings. The first will focus on traditional banking around the world, while the second will hold the company's riskier assets and tougher-to-manage ventures. Bank of America slides to 4Q loss; gets more ‘down the rabbit hole’ taxpayer money. Bernanke: U.S. Financial Crisis Worse than Japan’s Lost Decade, but We’ll Still Copy the Japanese Playbook, Even Though It Didn’t Work Nortel files for bankruptcy, shares plunge , (Reuters) $700-Billion Bailout Lacks Transparency, Accountability, Congressional Panel Says U.S. Retail Sales Decline for a Sixth Month Dismal holidays over, but retail outlook still dim , CITIGROUP Stock Falls Below Critical $5 Level... 'Long-term transformation'... 'Swift decline in America's influence'... Stocks tumble as worries grow about banks... JPMorgan CEO predicts bleak year: report (Reuters) JPMorgan's chief executive predicts that the financial crisis will worsen this year, in an interview with the Financial Times newspaper published on Thursday. Sen Dorgan: Federal Reserve Refuses To Identify Recipients Of 2 Trillion In Emergency Loans Throw them, the fed, in gitmo; they’re certainly economic terrorists, frauds, thieves who’ve done far greater damage to america than all america’s enemies combined. Our Collapsing Economy According to the Bureau of Labor Statistics, nonfarm payroll employment declined by 3,445,000 from December 2007 through December 2008. Marc Faber: “I Think it Might Be Far Worse [Than the Great Depression] Precisely Because of the Interventions” by the Government The latest edition of Marc Faber’s latest newsletter fell off two separate trucks in my ‘hood, and I thought the most useful bits were Faber’s observations (honed from many years of seeing the world from Asia) that just because a market has gone down a ton doesn’t mean it can’t go down a great deal further. U.S. Economy May Shrink 1.5% in 2009 as Depression Stymies Fed Economists slashed forecasts for U.S. growth in 2009 and projected Federal Reserve policy makers won’t be able to start raising interest rates until 2010, according to a monthly Bloomberg News survey Treasury: Deficit hits new record in just 3 months...TREASURY PICK FAILED TO PAY TAXES Bond Bubble Looms ‘The key here is to stay the course and not to be sucked into the hype; don’t let your eyes deceive you. Printing money non-stop for a year (or longer, I don’t see him stopping any time soon) will have consequences (meaning hyperinflation/worthless dollar, etc.).’ Those commerce department job numbers in prior months revised upwards (I warned of the falsity of same even as wall street frauds rallied on the false data). 2.6 million jobs lost in 2008, worst since 1945. Motek’s experts: Financial analyst says treasuries at 0%, money markets near 0%, so seek companies with pristine balance sheets and dividends, negative doldrums as market (irrationally) shrugs off bad news, no magic wand from new president, cross your fingers and hope…..riiiiight! Economist discusses jobs report, says lagging indicator and rough time, savings up but spending down, weakness through at least first quarter of 2010, lots of pain ahead, real estate prices continue decline through coming year, -20% to –25% with land of fruits and nuts in worst case scenario. Another economist also discusses continued declines for real estate with land of fruits and nuts in worst case camp, foreclosures a lot higher with peak at 20%, and cites (probable) decade long stagnation as Japan in ‘90’s. US Debt is really 53 Trillion. Can you say Dollar Collapse then Massive Hyperinflation Coming? Roubini Joins Faber and Rogers in Saying Bubble in Treasuries Will Likely Burst Now the U.S. porn industry seeks $5billion bailout Citi, Morgan Stanley in brokerage talks; Rubin quits $$] Rubin Departs Citi on a Low Note (at The Wall Street Journal Online) Agency warns on automakers' pension funds: report Jobless rate at 16-year high as payrolls plunge Job losses hit 2.6 million as layoff pain deepens Wall Street falls on job woes, Citi Stocks slide after rise in unemployment rate (AP) Manufacturing slumps at fastest pace since 1981 More people collecting unemployment benefits Depression more severe than thought: Fed’s Rosengren Horrible data and again worse than expected but suckers’ bear market rally into the close based on bull s**t and bailouts (with money they don’t have) provides excuse for irrational exuberance and mixed close. Weak retail and unemployment at 26 year high.Motek’s experts: Analyst points to dire warnings across the board while real estate/housing/building analyst says 2009 will be bad year with 20% declines in real estate values as unemployment goes higher while another real estate analyst says not a good time to buy a home. U.S. companies face $409 billion pension deficit: study U.S. debt is losing its appeal in China LET'S PRINT MORE WORTHLESS MONEY! Obama Bets Big on Big Government... Dems Raise Doubts on Plan... A worse-than-expected ADP employment report indicated 693,000 jobs were lost in December far above the expected 493,000 and a warning from Intel (INTC 14.44, -0.93) underpinned early weakness with typical suckers’ rally into the close to finish off lows. Motek’s experts: Analyst says first 5 days of trading in January, 2009 historically a bad sign, gloomy employment scenario with 693,000 jobs lost in December, economic contraction in major way coupled with poor earnings, 1.2 trillion budget deficit at 6.8% of GDP or worse so tough to make bull case, defensive position, low allocation to equities with high capitalization/consumer staples. Oil analyst points to weak economy/jobs data, absence of leveraged money chasing oil and says $60 oil soon. Economist, part of the corrupt fed team discusses job losses. Final expert discusses demographic trends behind and causative of cycles as 1929, 1968, and now, baby boomers, bleak outlook, economically shot their wad in terms of ability to avoid depression. Analyst Predicts 40% Unemployment, No Recovery until 2015 Bear rally over, the great dying begins in corporate America Wall Street falls sharply on employment realities, realistically bleak corporate outlooks Budget deficit to hit $1.2 trillion in fiscal 2009 Intel warns second time on quarter U.S. says Madoff sent diamonds in violation of bail Profit warnings, poor job outlook weigh on stocks (AP) Yes, fed now using the ‘D’ for depression word which means we’re in a depression (after all, they were saying no recession when we were already in one). What are they still drinking, smoking, snorting on wall street with suckers’ bear market rally into the close. They’ll still get their commissions on the way down and maybe stick you with their over-priced dogs as well. Same modus operandi as in January et seq, 2008 when they sucked in the suckers who this time (fool you twice, shame on you) will deserve to be burned for wall street commissions/compensation/ bonuses’ sake as in the year just passed. Service sector (90% of american economy, viz., bull s**t), factory orders, pending home sales down (worst on record) and much worse than expected. Some reality: After a short modest rally in the stock markets, lasting at best if at all, 1 to 4 months after Obama is inaugurated as President, people will realize that Obama’s stimulus plan isn’t going to work. Specifically, it will become obvious that we’re in a Great Depression, and that nothing that Bushco or Obamaco did can get us out of it (it may take a while longer for people to realize that what both administrations did actually made the financial crisis much worse). At that point, the stock market will crash like a waterfall. Mish thinks the crash will leave the S&P at 600. Robert McHugh thinks the crash will drive the S&P to 500 or lower (in McHugh’s worst-case scenario, the S&P could end up at 50). At around the time of the crash, the bubble in long-term treasuries will burst. Retirees and other people who have socked away their money in treasuries will get hit hard. The government itself will start massively buying its own long-term treasuries. Motek’s experts: Art Hogan in straight-shootin’ mode (as opposed to wall street shill mode) focuses (but only briefly) on fed’s depression/deflation words, says quite correctly that the focus has been on the cure (ie., bailouts) rather than the illness, lots of badnews, dismal earnings, etc., only slightly better at best in second half (I don’t think so), stay away from consumer discretionary cos., metals higher, market may be higher at year end (not likely), but rocky road till then (and beyond). Financial times editor says shocked by fed’s 0% move, very scary scenario, the specter of depression/deflation looms large, much too much optimism over Obama prospective stimulus plan. Economy in grip of recession/depression, reports show Stocks end higher on hopes for economic rebound Alcoa to cut 13 pct of global work force The Secular Bear Market Continues Willem Buiter warns of massive dollar collapse Bank Of England Policymaker Predicts Unprecedented Dollar Collapse Car sales plunge heralding bleak 2009 but car stocks rally; construction numbers down but building stocks rally. Will We Have a Good 2009? Not If History Is Any Guide Stocks slip on telecom and financials; Apple jumps on ‘jobs alive’ news…riiiiight! Obama plunges into econ talks, borrows a page from bush economic strategy of spending money you don’t have and cutting taxes, and predicts approval Consumer bankruptcies jumped 33% in 2008 and much worse expected in 2009 including commercial bankruptcies far greater and larger than in 2008 [$$] Don't Get Too Happy About the New Year Check This Graph-Proof we are going into a Great Depression. Notice MASSIVE job losses. Is there really any doubt any longer? The Economist, a Widely Respected and Authoritative Financial/Economic Publication: U.S. In Depression, Not Recession Don’t forget their 2008 talk as now for 2009. 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., so great opportunity to SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME. More dismal news for lunatics on wall street to fraud on: ISM factory utilization index fell to the lowest level in over 28 years. Factories mired in worst slump in 28 years They’re printing worthless Weimar dollars like mad for the celebrated bailouts, bailouts, bailouts, and stimulus so stimulating. Motek’s experts: First expert talks up superstition, the so called ‘january effect’ saying if positive this month then the worst case scenario is –5% for DOW/S&P for the year, so the frauds on wall street are really shootin’ for the moon (lunatics) for the effect, still in recession but bear market rallies not bad but not for buy and hold crowd, dump non-performers, favors medical devices/health care related, disfavors autos/financials. Another expert who scans/digests newsletters says market/newsletter euphoria contra-indicated, new lows are coming, the best funds in 2008 were short or cash. News typically bad: Difficulty tracking and monitoring bailout money…Daaaaah! Understated unemployment numbers still at recession/depression levels (4.65 million); retail correction-bankruptcies, closings, fewer stores. Motek’s experts: Peter Shiff says it’s not the disease but the government cure that will kill us, dire forecast for 2009 and beyond-inflation, companies going out of business, commodity prices higher, world’s largest debtor america is bankrupt, more borrowing/spending their failed prescription, bleak picture for dollar the value of which will be halved and high probability that the decline will be 70-90%, gold higher and $2000 gold in not so distant future, oil much higher and $200 oil in next couple of years, stocks will continue to decline, on the long side he favors quality EU, Asia securities and precious metals particularly monetary metals gold, silver. Oil analyst says oil too cheap, geopolitical factors, (israel war mongering, war crimes, etc.; Russia/Ukraine dispute-cut gas supplies affecting Europe), oil to $60-70 rather quickly, gasoline demand anemic but oil price the factor. It’s time for ben stein to resign himself to just a land of fruits and nuts actor/entertainer/speculator as he lambasts Shiff’s prognostication ( he previously had to apologize to Shiff having done wrongly so before- his criticism of Peter Shiff for warning of this debacle years ago). He throws out a couple of economic terms (demand pull/cost push inflationary terms) to buttress his criticism of Shiff but he’s just out to lunch in citing the absence of demand as militating against Shiff’s inflationary argument since history (and even currently, i.e., zimbabwee) is replete with examples of low demand and or impoverished nations that have over-printed their currencies with hyperinflationary results as will occur in u.s.). Stein should be on the Strip doing stand-up (comedy). He is a joke! Suckers' bear market rally into the close to keep the suckers suckered on NEWS MUCH WORSE THAN ALREADY DISMAL EXPECTATIONS ACROSS THE BOARD: S&P/Case-Shiller Composite Index, October home prices were down 18% year-over-year, the largest drop on record. According to the U.S. Conference Board, consumer confidence dropped more than expected to an all-time low in December AT 38%. Record number of bankruptcies and particulary hard hit commercial sector in coming year, ie., malls, retail, etc.. Worse stock market declines for the year since 1931 (Great Depression) and worse to come in 2009 despite suckers’ bear market rallies to keep you sucked in. Put these wall street frauds in jail and force disgorgement of their fraudulent gains. There are loads of able new grads and job seekers who can take the place of the wall street frauds who caused the crisis owing to their own avarice and continue the coverup to get taxpayer bailout funds. The markets should be efficient and predicated on rational valuation which is totally absent in america’s fraudulent, manipulated markets. Absent prosecution and disgorgement in these ongoing multi-trillion dollar fraud schemes (new ponzi scheme uncovered in addition to madoff, which are just tips of the iceberg of multi-trillion dollar frauds), america will not be worth the paper the worthless Weimar dollars and worthless securities denominated in same are printed on. Non-Motek expert: markets to fall into 2010 or worse case, later. Motek experts: They discuss dismal news, for year DOW-35%, NASDAQ-42%, S&P-40%, $7-10 trillion in wealth destroyed, second-half inflation from printing worthless Weimar dollars/stagflation; another expert, consumer has collapsed, 2009 will be very tough year for autos; a real estate analyst says 2009 will be a very tough year and hopefully we’ll get through this…..riiiiight!…I don’t think so…Almost one in 10 Floridians are on food stamps Online holiday sales fall 3 percent Madoff liquidation trustee receives $28M for costs (AP) Charlotte, NC, home values post record decline (AP) Wrong Great Depression Lessons Will Haunt Equities in 2009 73,000 retailers to close in first half of 2009, Stocks Rally Bloomberg | U.S. retailers face a wave of store closings, bankruptcies and takeovers starting next month as holiday sales are shaping up to be the worst in 40 years There’s No Pain-Free Cure for Recession/Depression Schiff: Government Interference Only Makes The Problem Worse Paul Joseph Watson | Establishment talking heads still pushing useless and destructive bailout. A Ponzi Scheme Within A Ponzi Scheme Bob Chapman | Dwarfing the Madoff Ponzi scheme is the Social Security Ponzi scheme that has been looted (the iou’s) and is hopelessly insolvent. This on top of previous suckers' bear market rally into the close with 100+ point swing to the upside to keep the suckers suckered. Time for prosecutions of and disgorgement of ill-gotten multi-trillion dollar gains from the frauds on wall street; madoff is just the tip of the iceberg; all news decisively bad and worse than even dismal expectations except that the frauds on wall street continue their familiar suckers cheer for bailouts, bailouts, bailouts so SELL INTO STRENGTH/TAKE PROFITS/SELL! Motek experts: At best, bear market rally, his accounts 20-25% cash, can make bearish argument since still looking at writeoffs, government still must sell bonds to help finance bailouts, municipal bonds troublesome as iou’s might extend maturities, don’t try to catch falling knife in this market but some high quality bonds may offer value, dollar to take hit (they’re printing worthless weimar dollars like mad-hyper-inflationary); Oil expert says overshot to downside and will see turn-around in oil; U.N. Security Council condemns massacre by zionist israel. Pros Say: Employment Collapse is Coming Holiday Sales Slump to Force U.S. Store Closings, Bankruptcies Manufacturing, Home Prices Sank: U.S. Economy Preview Holiday Sales Tumble as US Consumers Reduce Luxury Purchases Bleak economic picture emerges from new data Retail Sales Plummet Holiday Sales Tumble as US Consumers Reduce Luxury Purchases Bleak economic picture emerges from new data The frauds on wall street say they are entitled to the obligatory santa claus rally and attempt to keep you suckered in for their commissions sake with small gains on bull s**t/fraud alone in holiday shortened light trading, but reality says every day the market’s above 2,000-5,000 on the DOW, 1,000-1,300 on the NASDAQ, and 500-600 on the S&P is a ‘santa clause rally, so SELL INTO STRENGTH/TAKE PROFITS/SELL as all news decisively bad and worse than even dismal expectations except that the frauds on wall street continue their familiar suckers cheer for bailouts, bailouts, bailouts, with ephemeral short-covering to lock in year-end gains for window dressing and much, much worse to come. Unemployment up more than expected at 26 year high and consumer spending down for fifth month in a row. In their typically corrupt way, scandal-scarred commerce department provides fake data for b.s. talking points far better than private economist estimates but still decline of 1% in durable goods new orders. Oil's slide came in the face of a surprise inventory draw, which suggests stronger-than-expected demand for the commodity as Department of Energy reported that oil inventories for the week ending Dec. 19 decreased by 3.10 million barrels. Analyst: One Third Of Banks To Collapse In 2009 U.S. Economy: Home Prices Fall At Depression Pace Recession/depression deepens, countries boost spending Previously, just modest losses relative to reality so SELL INTO STRENGTH/TAKE PROFITS/SELL as all news decisively bad and worse than even dismal expectations except that the frauds on wall street continue their familiar suckers cheer for bailouts, bailouts, bailouts, with much, much worse to come. Existing home sales plunged to a rate of 4.49 million last month, down 8.6 percent from October, and worse than economists predicted. Total sales, not calculated as an annual rate, fell 17 percent in November from a year earlier to 322,000, sales of newly built homes fell 2.9 percent from October to a pace of 407,000 units, the slowest rate in nearly 18 years. Madoff investor found dead of suicide. Standard & Poor's lowered the unsecured debt rating of General Motors (GM 3.01, -0.51) to C from CC, even though the government plans to provide GM with financing and Moody's lowered Ford's (F 2.19, -0.40) credit rating to Caa3. Final third quarter GDP data showed economy contracted at an annualized rate of 0.5%, unchanged from the prior reading though personal consumption component was down 3.8%. Motek’s experts: actor/speculator/entertainer/sometimes economist Ben Stein takes a page out of GM’s playbook by lambasting Fortune Magazine (you might recall some two decades ago that Fortune warned of GM managerial ineptitude to which GM responded with outrage and withdrew all advertising and revenue to Fortune thereby in retaliation - if only they had listened) for saying caleefornia is number 1, numero uno ….. as prospectively worse real estate market in the nation, the same Ben Stein who poo-pooed Peter Shiff’s correct prediction of market crash, but does correctly state fed policies hyperinflationary; LA economist jumps on the Ben Stein out-to-lunch bandwagon and says only 10%, not 25% (as consensus predicts), decline for caleefornia…..riiiiight…..take that to the bank; broad donates to MOCA; show biz expert- strike fear; and Shreve of IBD flips yet again-if only we were all traders…but if you had followed his every whim, only the frauds on wall street would have made out with substantial commissions in the ups/downs. IMF warns of Great Depression 100% chance of depression in US Depression Hits Detroit: Average home price $18,513 - Unemployment rate 21% U.S. Home Resales Fall; Prices Drop by Record 13.2% Congressman: “If We’re Not Very Lucky Or If We Don’t Do Everything Right, We Could Easily Have A Ten- Or Fifteen-Year Depression” World faces “total” financial meltdown: Bank of Spain chief Previous suckers bear market rally into the close with 150 point swing to the upside based on bull s**t and fraud in the inducement alone to keep the suckers sucked in and commission dollars flowing for modest losses relative to reality so SELL INTO STRENGTH/TAKE PROFITS/SELL as all news decisively bad and worse than even dismal expectations except that the frauds on wall street do their familiar suckers cheer for bailouts, bailouts, bailouts, with much, much worse to come. Motek’s experts:Economist says economy in full-out recession, aggregate demand down across the board, abusers are not lubrication for economy so should not get bailout, another 25% down for real estate prices as foreclosures also will continue but lower prices will eventually stimulate demand, fed focused now on long-rates, cites housing/finance/consumer debacles and no recovery till at least into 2010 at best (I don’t think so); oil expert says contract now February delivery on expiration of January contract and flood of selling on expiring contract temporarily depressed prices, oil more expensive in future, discusses boom/bust cycle (we’re in the bust part); another cites high redefault rate on modified mortgages and more foreclosures; auto analyst points to Toyota showing first loss since 1941 inception, global downturn with no nation spared, reckoning for 15-20 years of bad decision-making, 2009 very grim, 2010 at best for even minimal improvement (I don’t think so); Online e-commerce expert cites first flat to down year of online retail sales growth; downgrades GM, american Express, Ford, etc.. World faces “total” financial meltdown: Bank of Spain chief Housing crisis worsens as economy weakens Japan recession deepens, China cuts rates Great Recession/Depression of 2008, et seq., Worse Than All Others AP Impact: Wall Street still flying corporate jets; indeed, with all the bashing of auto rank and file employee pay, the reality is that american executives, among the least able, least talented in the world, along with fraudulent wall street are grossly overpaid and far exceeding that of their far more able foreign counterparts (AP) Where'd the bailout money go? Shhhh, it's a secret (AP) Housing crisis worsens as economy weakens Ratings Agencies Play Reality With Multiple Downgrades in Banking Sector (at Seeking Alpha) Previous mixed to modest losses relative to reality so sell into strength/take profits/sell as all news decisively bad and worse than even dismal expectations except that the frauds on wall street do their familiar suckers cheer for bailouts, bailouts, bailouts. Motek’s analyst/options expert predicts controlled bankruptcy for at least GM (maybe more), cites Fitch downgrade of GM’s credit/default rating and says GM within weeks of default. Oil analyst cites recession, week demand, over-supply also stating storage facilities full and resorting to offshore tankers to store excess oil. Media analyst says economic model for newspaper/media business broken. Rogers: The Incompetent Senile and Vegetables Have Turned A Recession Into A Depression He Saw the Crash Coming: What Gary Shilling Sees for 2009 Yes, Shilling’s using the d for depression word so If video unavailable, here for avi rendering SCROOGE BIDEN: ECONOMY IS 'ABSOLUTELY TANKING' Previously, recession/depression level 554,000 new unemployment claims (I’m sure in reality, far worse but still bad) pre-Christmas so wait till the post-Christmas numbers are out – nowhere to hide those but they’ll try. Motek scraping bottom of barrel for second day in a row and comes up with another land-of-fruits-and-nuts man, the senile wedbush who discusses his comrade madeoff with other peoples money, poo-poos the purported amount, says market not doing badly considering the dismal news (at least he is lucid enough to realize dismal - market should be between 2,000 to 5,000 on the DOW, 500-600 on S&P, 1,100 to 1,300 on NASDAQ based upon the dismal but real and probably far worse than reported data) and points to auto scenario, oil plunge, and madoff fraud for doldrums. Oil analyst says pressure on commodities generally, liquidation on expiration of January (2009) oil contracts and liquidation of positions, but February (2009) contracts back to $40+ rather quickly, and points to decreased current and prospective refinery capacity on thin to low margins. A Most Desperate Move by the Fed Dollar’s Slump Erases Months Of Solid Gains “The Biggest Bubble Of All . . . U.S. Government Debt” Video: Crash Will be Worse than Great Depression Editorial: What ails global financial system ‘The $50 billion investment fraud to which the respected New York financier and former NASDAQ Chairman Bernard L. Madoff has allegedly confessed, may prove to be the paradigm for all that has gone wrong with the international financial system. It points up the greed, incompetence and woeful wishful thinking that have all combined to produce economic meltdown and plunge the world into recession. Most staggering is the stupidity of both regulators (and government corruption/venality vis-à-vis wall street) and professional investors in failing to spot that for at least a decade, at the heart of his hedge fund operations, Madoff was running a pyramid scheme. This relied on new investment funds to pay out market-beating returns to existing investors…..’ THIS IS WALL STREET EVERY DAY WITH THEIR EATING AWAY AT OTHER PEOPLES MONEY TO THE TUNE OF HUNDREDS OF MILLIONS OF DOLLARS A DAY (BILLIONS A YEAR AND NOW BILLIONS IN TAXPAYER BAILOUT FUNDS FOR THEIR FRAUD) BASED ON NOTHING BUT BULL S**T AND FRAUD! U.S. Records Huge Current Account Deficit Fed unleashes greatest bubble of all Canadian Prime Minister Stephen Harper believes a depression is COMING Peter Schiff new VIDEO on the Coming Collapse Dec 16 Swiss gold bullion in huge demand as trust in banks dives Goldmine Sachs: Bank’s bonuses cut to a ‘mere’ £142,000 EACH Investment bank /taxpayer bailout funds recipient Goldman Sachs is to pay £4.3billion in bonuses to its City workers. Dollar Falls Most Against Euro Since 1999 Debut on Fed’s Rate Dollar Declines to 13-Year Low Against Yen After Fed Rate Cut Federal spending soars 25% -- even before bailout... Previous, building permits declining 15.6% to a seasonally adjusted annual rate of 616,000 (below the consensus of 700,000), housing starts data for November declined 18.9% from the prior month to an annualized rate of 625,000 units, which was below the consensus of 736,000 and are 47% below the year-ago level, fed desperation (they don’t know what they’re doing – remember their pronouncement -no recession- when we were already in one), Weimar dollar down sharply, Federal Reserve sets stage for Weimar-style Hyperinflation , etc., so sell into these suckers bear market rallies/strength/take profits while you can since much, much worse to come. Economist Brusca “the economy is sinking fast”, FOMC states that “data indicate deteriorating labor conditions and declining consumer spending, business investment, and industrial production, and the outlook for economic activity has weakened further”, F. William Engdahl “The US economy is in a depression free-fall of a scale not seen since the 1930’s”, Kellner cites ‘helicopter ben’ (bernanke), BILLIONS VANISH IN EPIC HEDGE FUND FRAUD Downturn Spurs “Survival Panic” for Some in the U.S. Motek Experts: Art Hogan more realistically candid than usual cites all bad news, very difficult times, near term lows but no recovery for economy, hope is that second half of 2009 is better than first half (NOT!), cites lost decade in Japan with 0% interest rates, negative growth through fourth quarter 2009, longest recession (depression) in modern times, market hopefully better in second half of 2009 anticipating better 2010 (NOT!), bottoming of energy/commodities, worth looking at consumer goods/staples focused on what you need versus what you want; economist points to bankruptcies up, housing starts down; Zandi of Moody’s says not getting better but worse, most credit card holders will not benefit from rate cut; currency expert says interest rate cuts increasingly irrelevant, fed buying bonds driving asset prices higher and displacing private sector with prospectively negative results; and finally, Peter Shiff cites fed action as irresponsible, destroying value of money, bear market, money not worth anything, negates any rise in paper dollar-denominated securities (SELL), says buy gold because of u.s. hyperinflation. Previous, news worse than bad and to get much worse but full moon manifest on lunatic asylum for the criminally insane wall street. More banks reveal Madoff exposure The ‘while you can’ part of sell/take profits manifests and will worsen Citadel suspends redemptions from two hedge funds Stupidity not limited to u.s. where fraud is rampant Geneva banks lost more than $4 billon to Madoff: report This modest retreat and previous suckers bearmarket rally on bull s**t alone with familiar mantra still ringing today; viz., everything but the facts: forget the layoffs Coming soon to U.S., 1 million jobs lost every month: Report , forget the foreclosures Foreclosure Storm Will Hit US in 2009 as Loan Changes Fail Bloomberg , forget declining retail sales Retail sales post big drop in November , forget the $1 trillion record budget deficit , trade deficits, worthless fraudulent securities, lower earnings/guidance/outlook, the topic (b.s. talking point) de jour for the lunatic (yes, full moon) frauds on wall street is bailouts, bailouts, bailouts (not to mention there’s no real money to pay for same – print/create more worthless Weimar dollars – hyperinflationary Federal Reserve sets stage for Weimar-style Hyperinflation – even now despite fake reports and worse to come), and from well respected wall street fraud madoff, "it's all just one big lie" and that it was "basically, a giant Ponzi scheme," which is fraudulent wall street in a nutshell. Madoff fraud case raises questions about SEC (AP) and even bigger questions about fraudulent wall street and their washingtonian/federal/state facilitators. Builders sentiment reading at 9 (anything less than 50 is negative/pessimistic). Motek’s legal expert correctly points to funds problems with meeting redemptions and paraphrases J.P. Morgan’s immortal words concerning investing by saying as is particularly relevant now, It’s not return on investment, but return of investment (that really counts). Banks hit worldwide by US 'fraud' . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? Prosecute and throw them in jail and make them cough up their stolen multi-billion spoils. Not just super rich caught up in $50B Madoff case . The previous suckers bear market rally was/is based on bull s**t alone; namely, now it’s the prospective bailouts/spending programs with money that does not really exist (print/create more, borrow more, etc.). 1) Keynesian economics (government stimulus) does not work when a defacto bankrupt nation becomes more bankrupt to bailout frauds/perpetrators/creators of the problem and to create make-shift purported infrastructure jobs to enhance consumption 2) Inherent structural problems, i.e., trade/budget deficits will continue unabated and in the case of the latter, substantially increase – deeper hole 3) While spending on infrastructure is warranted, there is no productive enhancement in economic terms as in less modern times when, i.e., national highway system, etc., enhanced GDP growth and productivity. US Depression Likely -The Truth Is Here , Coming soon to U.S., 1 million jobs lost every month: Report , America Has No Means to Recover from a Depression FARRELL’S 15 GHOSTS OF WALLSTREET/ECONOMIC PAST/PRESENT/FUTURE Home values to lose well over $2 trillion during 2008: Zillow Homes in the United States have lost trillions of dollars in value during 2008, with nearly 11.7 million American households now owing more on their mortgage than their homes are worth, real estate website Zillow.com said on Monday. (Remember: more contrived wasteful commissions to the wall street frauds, the level and percentage of which MUST be examined in light of computerization and decreased costs attendant to same especially since only AN EXTREMELY 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). Moreover, the ballooning taxpayer bailout funds for the perpetrators of the massive securities fraud are actually going toward multibillion dollar bonus/compensation packages. . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? 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., so SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , IT’S A DEPRESSION , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 879) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 BILLIONS VANISH IN EPIC HEDGE FUND FRAUD All news worse than bad and to get much worse but full moon manifest on lunatic asylum for the criminally insane wall street. More banks reveal Madoff exposure The ‘while you can’ part of sell/take profits manifests and will worsen Citadel suspends redemptions from two hedge funds Stupidity not limited to u.s. where fraud is rampant Geneva banks lost more than $4 billon to Madoff: report This modest retreat and previous suckers bearmarket rally on bull s**t alone with familiar mantra still ringing today; viz., everything but the facts: forget the layoffs Coming soon to U.S., 1 million jobs lost every month: Report , forget the foreclosures Foreclosure Storm Will Hit US in 2009 as Loan Changes Fail Bloomberg , forget declining retail sales Retail sales post big drop in November , forget the $1 trillion record budget deficit , trade deficits, worthless fraudulent securities, lower earnings/guidance/outlook, the topic (b.s. talking point) de jour for the lunatic (yes, full moon) frauds on wall street is bailouts, bailouts, bailouts (not to mention there’s no real money to pay for same – print/create more worthless Weimar dollars – hyperinflationary – even now despite fake reports and worse to come), and from well respected wall street fraud madoff, "it's all just one big lie" and that it was "basically, a giant Ponzi scheme," which is fraudulent wall street in a nutshell. Madoff fraud case raises questions about SEC (AP) and even bigger questions about fraudulent wall street and their washingtonian/federal/state facilitators. Builders sentiment reading at 9 (anything less than 50 is negative/pessimistic). Motek’s legal expert correctly points to funds problems with meeting redemptions and paraphrases J.P. Morgan’s immortal words concerning investing by saying as is particularly relevant now, It’s not return on investment, but return of investment (that really counts). Banks hit worldwide by US 'fraud' . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? Prosecute and throw them in jail and make them cough up their stolen multi-billion spoils. Not just super rich caught up in $50B Madoff case . The previous suckers bear market rally was/is based on bull s**t alone; namely, now it’s the prospective bailouts/spending programs with money that does not really exist (print/create more, borrow more, etc.). 1) Keynesian economics (government stimulus) does not work when a defacto bankrupt nation becomes more bankrupt to bailout frauds/perpetrators/creators of the problem and to create make-shift purported infrastructure jobs to enhance consumption 2) Inherent structural problems, i.e., trade/budget deficits will continue unabated and in the case of the latter, substantially increase – deeper hole 3) While spending on infrastructure is warranted, there is no productive enhancement in economic terms as in less modern times when, i.e., national highway system, etc., enhanced GDP growth and productivity. US Depression Likely -The Truth Is Here , Coming soon to U.S., 1 million jobs lost every month: Report , America Has No Means to Recover from a Depression FARRELL’S 15 GHOSTS OF WALLSTREET/ECONOMIC PAST/PRESENT/FUTURE Home values to lose well over $2 trillion during 2008: Zillow Homes in the United States have lost trillions of dollars in value during 2008, with nearly 11.7 million American households now owing more on their mortgage than their homes are worth, real estate website Zillow.com said on Monday. (Remember: more contrived wasteful commissions to the wall street frauds, the level and percentage of which MUST be examined in light of computerization and decreased costs attendant to same especially since only AN EXTREMELY 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). Moreover, the ballooning taxpayer bailout funds for the perpetrators of the massive securities fraud are actually going toward multibillion dollar bonus/compensation packages. . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? 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., so SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , IT’S A DEPRESSION , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 879) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 Previous session, modest decline relative to reality so still great opportunity to sell/take profits since much, much worse to come! All news decisively bad and much worse than expected with trade deficit up 1.1%, dollar down, unemployment claims up 573,000 a 26 year high, 28% increase in foreclosures, bailout recipient BofA to cut 35,000 jobs, many other prospective job cuts announced, economic group changes previous forecast to worse/long recession, Bernard Madoff arrested over alleged $50 billion fraud Madoff told senior employees of his firm on Wednesday that "it's all just one big lie" and that it was basically, a giant Ponzi scheme (the fraudulent wall street story in a nutshell) , BANK OF AMERICA to cut 35,000 jobs... , ...final could be higher , Shocking but true claim: Most big banks 'bankrupt'... , New unemployment claims surge unexpectedly , Ron Paul: Printing Money Only Prolongs The Pain Amidst the hand-wringing of the automaker bailout debate, Ron Paul took the opportunity on the House floor yesterday to remind Congress that the real culprit behind the financial crisis is the Federal Reserve, and that allowing the Fed to continue to print money without audit will only prolong the pain. , US budget deficit to reach USD 1 trillion , Jim Rogers calls most big U.S. banks “bankrupt” Jim Rogers, one of the world’s most prominent international investors, on Thursday called most of the largest U.S. banks “totally bankrupt,” and said government efforts to fix the sector are wrongheaded. CORRECTED - CORRECTED-(OFFICIAL)-UPDATE - Wells Fargo to take $40 bln Q4 charge , German FM criticises Britain’s ‘crass Keynesian’ policies: report and read again previous session, forget the layoffs Coming soon to U.S., 1 million jobs lost every month: Report , forget the foreclosures Foreclosure Storm Will Hit US in 2009 as Loan Changes Fail Bloomberg , forget declining retail sales Retail sales post big drop in November , forget the $1 trillion record budget deficit , trade deficits, worthless fraudulent securities, lower earnings/guidance/outlook, the topic (b.s. talking point) de jour for the lunatic (yes, full moon) frauds on wall street is bailouts, bailouts, bailouts (not to mention there’s no real money to pay for same – print/create more worthless Weimar dollars – hyperinflationary – even now despite fake reports and worse to come) , suckers bear market ralley to keep the suckers sucked in so great opportunity to sell/take profits since much, much worse to come! This suckers bear market rally is based on bull s**t alone; namely, now the prospective bailouts/spending programs with money that does not really exist (print/create more, borrow more, etc.). 1) Keynesian economics (government stimulus) does not work when a defacto bankrupt nation becomes more bankrupt to bailout frauds/perpetrators/creators of the problem and to create make-shift purported infrastructure jobs to enhance consumption 2) Inherent structural problems, i.e., trade/budget deficits will continue unabated and in the case of the latter, substantially increase – deeper hole 3) While spending on infrastructure is warranted, there is no productive enhancement in economic terms as in less modern times when, i.e., national highway system, etc., enhanced GDP growth and productivity. US Depression Likely -The Truth Is Here , Coming soon to U.S., 1 million jobs lost every month: Report , America Has No Means to Recover from a Depression (Remember: more contrived wasteful commissions to the wall street frauds, the level and percentage of which MUST be examined in light of computerization and decreased costs attendant to same especially since only AN EXTREMELY 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). Moreover, the ballooning taxpayer bailout funds for the perpetrators of the massive securities fraud are actually going toward multibillion dollar bonus/compensation packages. . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? 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., so SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , IT’S A DEPRESSION , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 848) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 Previous, modest decline relative to reality so still great time to sell/take profits since much, much worse to come. Wall Street stung by risk-aversion and realistically bleak outlooks , Point of no return: Interest on T-bills hits zero , Tightening Budgets Mean a Rough Ride for IT , FIRST TIME: Treasury Bills Trade at Negative Rates... . Previous, suckers bear market rally based on bull s**t alone; namely, now the prospective bailouts/spending programs with money that does not really exist (print/create more, borrow more, etc.). 1) Keynesian economics (government stimulus) does not work when a defacto bankrupt nation becomes more bankrupt to bailout frauds/perpetrators/creators of the problem and to create make-shift purported infrastructure jobs to enhance consumption 2) Inherent structural problems, i.e., trade/budget deficits will continue unabated and in the case of the latter, substantially increase – deeper hole 3) While spending on infrastructure is warranted, there is no productive enhancement in economic terms as in less modern times when, i.e., national highway system, etc., enhanced GDP growth and productivity. US Depression Likely -The Truth Is Here , Coming soon to U.S., 1 million jobs lost every month: Report , America Has No Means to Recover from a Depression (Remember: more contrived wasteful commissions to the wall street frauds, the level and percentage of which MUST be examined in light of computerization and decreased costs attendant to same especially since only AN EXTREMELY 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). Moreover, the ballooning taxpayer bailout funds for the perpetrators of the massive securities fraud are actually going toward multibillion dollar bonus/compensation packages. . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? 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., so SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , IT’S A DEPRESSION , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 848) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 Previous suckers’ bear market rally on far worse than expected and particularly significant bad news provides great opportunity to sell/take profits, especially considering fraudulent wall street’s previous modus operandi to keep suckers sucked into this market and their commission dollars flowing, suckers’ rallies into the close, reassuring rallies prior to weekends as this despite unexpectedly bad news as today, etc., which frauds perpetrated the yet unprosecuted crimes that have created this current financial debacle. Record 1.33 homes in foreclosure,15 year high for unemployment at 6.7% even as many no longer looking with things so depressed and worse to come in ’09, record level deficits both trade and particularly budget with money not there being spent with abandon (worthless Weimar dollars being printed created like mad which is and will continue to be hyperinflationary regardless of the current fake reports). Motek has actor/speculator/entertainer/sometimes economist Ben Stein points to loans in foreclosure hitting new records, paulson misconduct, lack of oversight/accontability in bailout funds, and the seriousness of the crisis, but his pointed barbs seem fleeting and is most memorable by his somewhat blind adherence to policy as indicated by his criticism of Peter Shiff for warning of this debacle years ago. Motek’s oil analyst says economy so bad that oil demand down, significant recession in 2009, and hedge funds liquidating positions putting pressure on oil prices. Finally, Motek elicits from Peter Shiff that jobs created are being destroyed as fast, phony jobs, bear market and government making worse by digging deeper hole, phony (worthless Weimar) dollar rally provides opportunity to get out with hyperinflation to come. GREAT OPPORTUNITY TO SELL INTO THIS SUCKERS’ BEAR MARKET RALLY/STRENGTH/TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME. 3 Tell Tale Signs Of This Sucker Rally , Half-million jobs vanish as economy deteriorates (AP) , Job losses worst since 1974 Employers cut 533K jobs in Nov., most in 34 years , Late mortgage payments and foreclosures hit record , 1 in 10 homeowners behind on mortgage payments, or in foreclosure... , Wall St financiers party like there's no tomorrow -- literally WHERE ARE THE CRIMINAL PROSECUTIONS AND DISGORGEMENT? It’s been wall street frauds’ nirvana (commissioning a huge decline then a huge incline) at just a program loop, button push, mouse click away. Previous session, modest declines relative to reality SO STILL GREAT OPPORTUNITY TO SELL INTO SUCKERS’ BEAR MARKET RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME. CELENTE OF trendsresearch.com, having predicted the Panic of 2008 now preparing current prognostications for 2009 which will bear the consequential follow-up title to the Panic of 2008; namely, The Collapse of 2009, further stating there’s nothing they’ve done or prospectively can do to avoid the complete economic/financial collapse in the u.s., the seeds for which have already been sown, good money after bad notwithstanding, the die having been cast. All business/financial/economic news decisively bad; 26 year high for jobless rolls, orders to factories down sharply, job cuts current and prospective up sharply. Motek expert comments on auto bailout saying no new concesions with UAW cuts merely cosmetic, just down payment on failed business model/scenario, bankruptcy necessary as costs too high, and on economy says nation to go deeper into recession owing to intactable structural problems; i.e., deficits, etc.. Another Motek expert says very negative economic environment, sees deepening of more prolonged recession, discusses risk tolerance in such an environment recommending highest quality debt instruments but does note risk premium in lesser quality instruments. Food stamp use up 17% to 1 in 10 citizens, bankruptcies soaring, and re-default rates on mortgages rising. Employers shedding jobs as recession deepens , AP IMPACT: Some bailout holdings down $9 billion , Governments brace for long crisis ahead , High inventory is killing home builders; industry asks for help , It's Not a Great Time to Get Into Stocks , Long Term Investors Should Avoid Leveraged ETFs , Fixing the Enron Economy , US FEDERAL RESERVE to buy US DEBT? WITH WHAT? , Prepare For Depression Level Unemployment , Record number of Americans using food stamps: report , Whether We End Up Paying For It Through Taxes Or Hyperinflation, It Will Still Come Out Of Our Pockets , Corporate Debt Protection Costs Climb Amid Depression Concern , Shoppers ready to call it quits MarketWatch | More than one-third of consumers chose not to shop at all last month, except on Black Friday, according to Britt Beemer of America’s Research Group. Lawsuit claims Citigroup was running a “quasi-Ponzi scheme” Bloomberg | Citigroup Inc., the second-biggest U.S. bank by assets, was accused in a lawsuit of repackaging unmarketable collateralized debt obligations it held and re-selling them to itself in order to hide its exposure to the securities. WHERE ARE THE CRIMINAL PROSECUTIONS AND DISGORGEMENT? Previously, suckers’ bear market rally into the close on bad news with wall street frauds’ nirvana (commissioning a huge decline then a huge incline) at just a program loop, button push, mouse click away. Indeed, all news still realistically and decisively (and some deceptively otherwise spun to keep suckers suckered) bad: A Bleak Outlook: Nov. Job Loss at 250,000, Economic Weakness , US, China currency clash over worthless american currency... , 61% oppose auto bailout , Meredith Whitney Sees Plenty of Pain Ahead for Consumers (at BusinessWeek) , Desperate Times, Desperate Policies ) . One non-Motek expert says these suckers’ bear market rallies on bad news are at best wishful thinking and not sustainable along with realistically dire outlook. Motek expert says market for speculators/traders and points to volatility index while failing to point out that there are very, very few successful traders. [Close inspection of the data in past times far better than now (now we see insurmountable trade/budget deficits, lack of manufacturing base, global antipathy, etc.) disavows such heavily promoted failed strategies as dollar-cost averaging where stocks prices remain artificially (now fraudulently) high for far longer periods of time than lower prices (MBA Thesis, Albert L. Peia, NYU GBA, 1977), limited exceptions being ie., dollar-cost averaging in declining markets, but only when analysis indicates under-valuation in prospective terms which is certainly isn’t the case now of rampant over-valuation/fraud]. (Remember: more contrived wasteful commissions to the wall street frauds, the level and percentage of which MUST be examined in light of computerization and decreased costs attendant to same especially since only AN EXTREMELY 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). Moreover, the ballooning taxpayer bailout funds for the perpetrators of the massive securities fraud are actually going toward multibillion dollar bonus/compensation packages. . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? 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., so SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , IT’S A DEPRESSION , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 848) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 , Auditors Fault Oversight of Bailout Funds...Previous suckers’ bear market rally in the last minutes of the close on bad news with wall street frauds’ nirvana (commissioning a huge decline then a huge incline) at just a program loop, button push, mouse click away. Indeed, all news still realistically and decisively (and some deceptively otherwise spun to keep suckers suckered) bad: GE lowers guidance but maintains dividend , November US auto sales drop to 26-year low , Data signal deep global downturn Financial Times , US manufacturing hits 26-year low: ISM . How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? 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., so SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , IT’S A DEPRESSION , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 848) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 , Auditors Fault Oversight of Bailout Funds... , Governors to Seek Up to $100B in Social Aid... ,
Feds to expand rescue; reviewing applications from 'hundreds of banks'...
FDIC head: Gov't plan needs 'exit strategy'... , Metal prices fall further than during Great Depression... , they’re printing and spending worthless Weimar dollars and taxpayer funds like mad because they are mad as in crazy, incompetent, etc.. Previous session sees modest drop relative to reality [SO SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME], particularly when you factor in the reality that the prior 5 day rally of 1,300 points into the last trading week of the month (much like the end of the prior month) based on bull s**t alone was a typical fraudulent wall street programmed trade fraud to window dress the monthly numbers and keep suckers sucked in (and besides, they’ll get their commissions again on the way down). Upon the formal announcement that we’ve been in recession since DECEMBER, 2007 I was waiting for Amy Poehler of SNL Weekend Update to say, “REALLY!” [this site has reported/predicted this (these) debacle (s) for far longer and in advance of same, including this recession/depression]. The protracted reluctance (election year expedience) for some to use the R(ecession) word, spun in the most positive way is to say it is because this scenario is far worse than even would befit the D(epression) word in light of the fact that the u.s. like never before in its relatively short history is broke in every way. If you’ve been suckered, it’s not all your fault inasmuch as the enablers (politicians, economists, financial experts, news/media, etc., in receipt of substantial largesse from and) of these vegetable garden (poison ivy league schools, these “elite” clubs/frats, etc.) products (vegetables who not only have never done anything requiring skills or measurable results, but merely are master bull s**t artists and as in the case of wall street, criminal frauds) are similarly incompetent, corrupt/venal. After all, how are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? 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; and 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.. Motek’s expert cites retail liquidation prices (none to minimal profits, at best), inevitable GM bankruptcy, fed programs done with money out the door to little or no effect and now talking new programs…riiiiight…or, with rate at 1%, more rate cuts…riiiiight, big shake-out to come, credit-card co’s to pull back $2 trillion to survive what’s coming, retailers with big real estate exposure bust, and market will test lows then break through said lows to the downside. There was in addition to the ‘recession’ announcement more dismal news with construction down 1.2% and the supply/management manufacturing index at 26 year lows. I derive no pleasure in being a harbinger of bad but true news but reiterate SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN AS THESE ARE STILL GREAT OPPORTUNITIES TO SELL/TAKE PROFITS SINCE MUCH, MUCH WORSE TO COME. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , IT’S A DEPRESSION , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 816) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 Dow plunges on news recession began in Dec. 2007 (AP) , Down we go again: Fourth-worst drop ever for Dow , Recession declared; Wall Street tanks , Fourth-worst drop ever for Dow AP… as wall street snapped out of its daydream of a rally and once again faced the harsh reality… Report Concludes Recession Began A Year Ago | But the White House and the corporate media consistently continued to state otherwise. Previous session, this suckers’ bear market ralley remains an especially great opportunity to sell/take profits while you still can since much, much worse to come (sell into purported strength which is just more bull s**t for prospective churn and earn fraud – they’ll get those commissions again on the way down) IMF economist says worst of crisis to come: paper 'Crisis Only Just Beginning': Crisis/Video Right About the Crash, Peter Schiff Sees Much More Pain Ahead and this suckers’ bear market rally was based upon nothing related factually to finance/economics/business. How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved and 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., SO SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN AS THIS IS AS GREAT AN OPPORTUNITY TO SELL/TAKE PROFITS AS YOU WILL SEE SINCE MUCH, MUCH WORSE TO COME. Indeed, all news still realistically and decisively (and some deceptively otherwise spun to keep suckers suckered) bad: SO SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN AS THIS IS AS GREAT AN OPPORTUNITY TO SELL/TAKE PROFITS AS YOU WILL SEE SINCE MUCH, MUCH WORSE TO COME. IMF economist says worst of crisis to come: paper . Indeed, all news still realistically and decisively (and some deceptively otherwise spun to keep suckers suckered) bad: Biggest runnup in stock prices since 1932 and most know what happened to stock prices for over a decade thereafter (and america was not broke in every way as now), Ghost malls cropping up with retail closures/bankruptcies, as predicted by trendsresearch.com [CELENTE CORRECTLY PREDICTS REVOLUTION, FOOD RIOTS, TAX REBELLIONS BY 2012 Paul Joseph Watson | Trend forecaster, renowned for being accurate in the past, says that America will cease to be a developed nation within 4 years, crisis will be “worse than the great depression.”] , Motek expert from the land of fruits and nuts, the senile wedbush (if you had listened to his prior prognostications/recommendations several months ago said suckers might be wiped out by this day) lauds the bailouts (money u.s. doesn’t really have and taxpayer money the frauds shouldn’t get) and the b.s. talking points thereby but says workout much longer, while retail expert points to liquidation prices (but fails to even mention lack of profits thereby), and poverty now spreading to suburbs. Financial Disaster Will Lead to Civil Disorder in 2009 or 2010, Says Secret Citibank Memo An internal memo from a top Citibank analyst reveals what the banks really think about the global financial situation, and the outlook is grim. Citigroup Should Be Held Accountable Bloomberg Food Prices Will Rise, Causing Export Bans, Riots Bloomberg Rubin Clones and Other Fakers: The Obama “Dream Team” Citigroup says gold could rise above $2,000 next year as world unravels US debt triggered global crisis ‘Encouraged by a wicked wizard, Greenspan, Bernanke toils at his Weimar dollar printing press’ . Consumer spending down (-1%), consumer sentiment down, durable goods orders down (-6%), home sales/prices down to new lows and high supplies, yet suckers’ bear market market rally of 400+ points into the close nostalgically based (which got investors burned in the past) on bull s**t alone (i.e., more bureaucrats on more painels as per President-elect, etc.) and the so-called thanksgiving holiday rally. $600 billion plan to support housing lending ultimately hyperinflationary. New unemployment claims at recession level 529,000 for the week ended Nov. 22 yet unbelievably lower than private economist estimates. October durable goods orders plunged by a larger-than-expected amount, Chicago manufacturing in November contracted the most since 1982 according to a regional survey, and consumer confidence dropped to a 28 year low in November, according to the University of Michigan. One Motek expert in a nearly senile market moment cites pleasant market surprise (reality dictates otherwise) but in a lucid moment concedes lengthy period to work out (substantial) problems, while another expert (currencies) cautions the unintended consequences of creating/printing/flooding the markets with worthless (Weimar) dollars (a policy choice of inflation over fear of deflation) and the dollar devaluation and ultimately hyperinflationary effects thereof. FDIC Troubled Bank List Grows to 46% - Is Your Bank Safe? (at Seeking Alpha) , Consumers cut spending , Stocks on win streak amid more bad economic news , Cisco plans 4-day shutdown to cut costs , October home sales fall sharply (Reuters) . The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved and hence, virtually all problems remain, will continue to 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., SO GREAT OPPORTUNITY TO SELL/TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME. Federal deficit could hit $1 trillion this year , FDIC's list of 'problem' banks swells to 171 (AP) , Dollar falls on realistically discouraging u.s. economic data (AP) , Third quarter real GDP was revised to a 0.5% annual rate of decline from a previously reported 0.3% rate which had rallied stocks and, only in the fraudulent world of wall street, rallied stocks again though worse than expected Economy shrinks at fastest pace in seven years, Third quarter personal consumption expenditures were revised to a worse than expected -3.7% from -3.1%, which rallied stocks ….. riiiiight! , Consumer confidence remains at an extremely depressed state despite fake numbers ,The S&P/Case-Shiller Home Price Index of 20 US cities fell 17.4% year over year — most on record. 'Crisis Only Just Beginning': Crisis/Video Right About the Crash, Peter Schiff Sees More Pain Ahead Crisis Only Just Beginning': Right About the Crash, Peter Schiff Sees Much More Pain Ahead VIDEO Previously, from the outset the wall street frauds were again determined to keep the suckers suckered with a near 500 point rally into the close. Existing home sales down 3.1% and much worse than expected. Motek’s expert Peter Shiff correctly points out that the so-called policy-makers, economists, etc., don’t know what they’re doing, that they can’t borrow (or print worthless Weimar dollars) and spend (money they don’t have) their way out of this debacle, that the bailout funds are merely providing undue bonuses/compensation for failed (and fraudulent) performance, that crisis will be exascerbated with (unavoidable) hyperinflation (inevitable thereby owing to crashing/worthless Weimar dollar) and ultimately even deeper/worse/more protracted economic decline, that auto industry is over-paid (especially relative to competition, legacy/pension costs, etc.), and importantly, the government has no money so they either have to borrow or print same which will make the economy much worse. Cost of Bankster Bait and Switch Now $7.4 Trillion Another expert says quick bankruptcies would have been the preferred course for optimal results, while another emphasizes quite correctly that the so-called experts/team now cheered (wall street frauds’ b.s. talking/rallying point) are those whose experience is having created the very problems they are now called upon to solve (hence, cover-ups, etc., but ineffectual). [Good management dictates that a clean sweep was warranted]. Realize that the products of the vegetable gardens (the poison ivy league schools producing these vegetables) are vegetables who not only have never done anything requiring skills or measurable results, but merely are master bull s**t artists and in the case of wall street, criminal frauds enabled thereby. Downey Savings taken over by regulators [ Colossal Financial Collapse: The Truth behind the Citigroup Bank “Nationalization” ] over the weekend. Obama’s Economic Foxes To Guard Financial Henhouse Today President elect Obama officially introduces his economic team to the world. What many may fail to recognize however is the fact that those tasked with rescuing the economy are the very people who helped create the financial crisis in the first instance. CELENTE CORRECTLY PREDICTS REVOLUTION, FOOD RIOTS, TAX REBELLIONS BY 2012 Paul Joseph Watson | Trend forecaster, renowned for being accurate in the past, says that America will cease to be a developed nation within 4 years, crisis will be “worse than the great depression.” Budget deficit hits record; jobless claims surge Foreclosure rates up 25 percent year-over-year Banking crisis claims more u.s. victims How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved and 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., SO SELL INTO RALLIES/STRENGTH/TAKE PROFITS WHILE YOU CAN AS THIS IS AS GREAT AN OPPORTUNITY TO SELL/TAKE PROFITS AS YOU WILL SEE SINCE MUCH, MUCH WORSE TO COME. IMF economist says worst of crisis to come: paper . Previous, suckers’ bear market rally was based upon nothing whatsoever relevant to finance/economics/business , yet again the wall street frauds were determined to keep the suckers suckered through the weekend with a near 600 point rally into the close. All news was decisively bad Federal regulators shut 2 California thrifts and though looking for a reason to rally, they found none because there are none HU: World economic situation 'grim'... , based on valuation and prospective substantial deterioration in economic conditions exascerbated by their massive fraud; but the invented reason for the suckers’ rally was the appointment of Geithner, a quintessential bureaucrat ultimately dependant upon other bureaucrats who are dependant upon the very corrupt monied interests/frauds (and their lobbyists) who created (through their crimes) the current financial crisis. Moreover, as head of the N.Y. Fed he is no stranger to cover-ups/bailouts in light of the missing/unaccounted for $4+ TRILLION at the N.Y. Fed $4 trillion plus is missing through U.S. federal agency accounts managed by the NY Fed. Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 852) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved and 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., so great opportunity to sell/take profits while you can since much, much worse to come. Leading economic indicators fall again a more than expected .8%, new claims for unemployment a high more than expected 542,000 while continuing claims at 4,000,000 a 16 year high and more than expected, Philly Fed Index down to a worse than expected –39. Jobless Claims Hit 16-Year High, Above Forecast Congress extends jobless benefits; stocks fall 400 World stocks down amid reality of deep recession (AP) CELENTE CORRECTLY PREDICTS REVOLUTION, FOOD RIOTS, TAX REBELLIONS BY 2012 Paul Joseph Watson | Trend forecaster, renowned for being accurate in the past, says that America will cease to be a developed nation within 4 years, crisis will be “worse than the great depression.” Budget deficit hits record; jobless claims surge Foreclosure rates up 25 percent year-over-year Banking crisis claims more u.s. victims How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved so sell into rallies/strength/take profits while you can since much, much worse to come. Previous session, modest losses relative to reality to keep the suckers’ suckered especially in light of grim economic/business/financial news so still great opportunity to sell/take profits while you can since much, much worse to come. Housing starts down a record 38%, building permits down 14.5%, and outlook grim. Motek’s expert discusses 30 reasons for Great Depression 2 by 2011 citing completion of first wave of the meltdown-dot.com bust, second wave-sub-prime debacle, and the on-going climactic financial/economic meltdown pointing to the 42,000 lobbyists, autos, etc., saying they just don’t get it, while another expert analyst says new lows across the board having broken through support levels. Motek’s p.r. expert says auto execs flying to d.c. in private jets to beg for taxpayer money bespeaks their stupidity, and his travel expert discusses the newly value-conscious consumer. Fed sharply lowers forecasts, hints of rate cut which ploy previously sparked b.s. suckers’ bear market rallies based upon nothing at all but reality says with only a point to zero and much worse to come is just plain b**l s**t . Deflation: Here, Now I’ve been warning of deflation for some time. Specifically, I predicted 1 1/2 to 2 years of deflation, followed by hyperinflation. Well, deflation is here.“Slush fund” … “Banana Republic” … “Keystone Kops.” Technical Economic Indicators Worsening Again Deflation: Here, Now I’ve been warning of deflation for some time. Specifically, I predicted 1 1/2 to 2 years of deflation, followed by hyperinflation Previous suckers’ bear market rally into the close with 300+ point swing to the upside [wall street frauds’ nirvana commissioning a huge decline then a huge incline just a program loop, button push, mouse click away] into the close to keep the suckers suckered as the lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved and 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., so great opportunity to sell/take profits while you can since much, much worse to come. Homebuilder reality-based sentiment index plunges to record low Economy so bad commodity prices plunge along with PPI. Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 859) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Forecasters: U.S. in at least, unrealistically optimistically, minimum 14 month recession The Great Depression of the 21st Century: Collapse of the Real Economy “The Dollar Standard Is Coming To An End” Financial Crisis Tab Already In The Trillions... Busted in Washington Housing starts expected to hit half-century low Washington is Powerless to Stop the Coming Economic Depression Whitehead sees slump worse than Depression Dollar’s Days Numbered, Buy Commodities: Jim Rogers America’s economic crisis is beyond the reach of traditional solutions U.S. Retail Sales Drop in October by Most on Record . (Banker Bailout Costs $5 Trillion So Far ), (Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 Within Months ), (Soros says deep recession inevitable, depression likely ), CELENTE CORRECTLY PREDICTS REVOLUTION, FOOD RIOTS, TAX REBELLIONS BY 2012 Paul Joseph Watson | Trend forecaster, renowned for being accurate in the past, says that America will cease to be a developed nation within 4 years, crisis will be “worse than the great depression.” Budget deficit hits record; jobless claims surge Foreclosure rates up 25 percent year-over-year Banking crisis claims more u.s. victims How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved so sell into rallies/strength/take profits while you can since much, much worse to come. 53,000 layoffs from Citigroup, and many more announced and may more to come from a multitude of companies to yield predicted 8-10% unemployment (conservative-some higher). Motek in a somewhat philosophical mood cites blue chips as cow chips (cow pies, manure, etc.), while his expert joins the metaphysical fray quoting ‘to save man from his folly is to people the world with fools’ and goes on to say everything looking bad, things are not good, how long the deep recession-don’t know, not there yet; while another expert says things have gone from bad to worse. Indeed, one expert says US To Lose Its ‘AAA’ Rating/face default/bankruptcy, while Motek’s expert says market poised to test new lows, points to uncertainty regarding bailout equivocation/changes and talks up, in a somewhat borderline senile fashion, some beaten down stocks on theory government will bail them out…riiiiight! Another Motek expert, actor/speculator/economist Ben Stein says hanky panky Paulsen perjured himself before congress and should be prosecuted, points to incompetence regarding bailout saying couldn’t have been handled worse and not mentally up to it. One Aspect of the Massive (Securities) Fraud/Fraudulent Wealth Transfer is Aptly Described/Illustrated in this Comment, [how are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved], Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 852) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 The immortal words of J.P.Morgan remain apposite as ’ it is not so much the return on the money as it is the return of the money’ , so sell/take profits while you can and preserve capital. Previously modest losses relative to reality with rally/programmed trades to the upside into the close to finish off substantially lower lows to keep the suckers’ suckered despite grim economic/business/financial news so still great opportunity to sell/take profits while you can since much, much worse to come. America is now a nation of bank holding companies (to take advantage of involuntary taxpayer bailouts), paper hanging wall street frauds (it’s the worthless multiplicity of securitized and heavily commissioned worthless paper that is the problem), and brazened ponzi’s (sic) (more, more, and more funds to keep their commission ball rolling) on wall street; and of course, their marks. Banking crisis claims more u.s. victims How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved so sell into rallies/strength/take profits while you can since much, much worse to come. Previous suckers’ bear market rally/programmed trades to the upside into the close to keep the suckers’ suckered so still great opportunity to sell/take profits while you can since much, much worse to come, as stocks finish only modestly lower relative to reality on grim economic/business news across the board, viz., b.s. talking point gives way to reality that China stimulus plan lessens availability of funds for the purchase of worthless u.s./dollar denominated securities/assets and may even require sale/redemption of same, GM shares hit 62 year low at $3.36 as analyst says said shares will go to - 0- (nil, with Ford’s shares at $1.93), Motek expert points to employment contraction for 15 months in a row and Conference Board Report regarding said job losses; while another emphasizes the futility of the bailouts which are get worse/larger in reference to what he terms slush funds, the bank tax windfall initiated in the dark of night, things will get progressively worse in the upcoming administration, u.s. spending far beyond means, and rapidly depreciating u.s. dollars and assets; DHL ending u.s. ground ops and 9,500 jobs, Security Pacific the 19th u.s. bank failure, etc., Fed's bailout for AIG swells to more than $150B , Fannie posts $29B 3Q loss, $100B may not be enough , Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” , bankruptcies, defaults, foreclosures, hyperinflation around corner on worthless Weimar dollars, etc.. Previous session, sell into these suckers’ bear market rallies/strength/take profits while you can as much, much worse to come. Much worse than expected jobs (240,000 lost, unemployment to 6.5%) and auto news (operating earnings losses of $4 billion for GM and $3 billion for Ford for 3rd quarter) rallies stocks (riiiiight!), in a largely forgettable Motek business hour even his oftimes wall street shill expert admitted to his credit that their was absolutely nothing to account for the rise in stock prices this day especially in light of the substantially bad and worse than expected news, says GM has enough cash to last to spring while Ford till summer, and says volatility for rest of the year. Economist says worse to come as very severe recession at least through 2009 and into 2010, and also there’s allusion to yet another taxpayer bailout of auto pension funds and auto co. bankruptcies. The wall street frauds must be prosecuted and disgorgement required. Jobless rate at 14-year high as above expectation losses continue GM, Ford losses worse than expected, burning cash Jobless ranks hit 10 million, most in 25 years Ford announces $129M 3Q loss, burns $7.7B in cash Jobless rate bolts to 14-year high of 6.5 percent Previous, another modest drop relative to reality [Grantham (who called the bubble) posits… 585 on the S&P 500 (versus today's frothy 904) There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500. ], downbeat economic data, first-time claims for unemployment at 25 year high and worse to come, abysmal retail sales worst in 3 decades, unit labor costs rose at a higher than expected 3.6% annual rate as the ultimately hyperinflationary effects of printing/creating like mad those worthless Weimar dollars, and weak business prospects, 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., so still great opportunity to sell/take profits while you can since much, much worse to come. Previous session sees modest drop relative to reality though record post-election plunge so still great opportunity to sell/take profits while you can since much, much worse to come. All news so bad (reality even worse) that even shill co. ADP can’t hide at least 157,000 lost private sector jobs where deep cuts are necessary, Challenger et als say layoffs will abound with cuts broad and deep, Motek expert says dismal market for at least next several weeks but cautious citing some oil, engineering, utilities, healthcare opportunities with caveat along with some emerging markets, service sector much weaker than expected and planned layoffs highest in three decades. Treasury wants to borrow record $550B...US-led strike kills 36 Afghan civilians U.S. as slowing economy/runaway spending balloons the budget deficit to a record level to Sell $55 Billion in Long-Term Debt Next Week Previous session, all news decisively bad with dollar down, oil up, factory orders declining 2.5% month-over-month after dropping 4.3% in August, much worse than the 0.8% decline that was expected, 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., so sell into rallies/strength/take profits while you can since much, much worse to come. Previous, ( Worst is yet to come for economy ) as economic/financial news so bad [ ISM index shows biggest downturn in economic activity since 1982, corrupt, scandal-scarred commerce department comes in with 40% better than expected false construction numbers though still down a hefty .3%, 90% of private economists say we’re in a recession and we’ll see much more lagging effect to the downside, realization that bad economic conditions going forward not frozen credit affecting lending despite their lies/fraud to buttress their fleecing of the treasury, Motek expert says another washout coming and we’ve not heard the last of those, ie., banks, companies, brokerages, etc., under the waves] , that lunatic frauds on wall street develop new b.s. talking point to keep suckers sucked in to this market so the wall street frauds can keep eating away at suckers’ money by commissioning same, the new talking point being ‘the election’. What total b**l s**t! They’re just a bunch of criminally insane vegetables who can’t do anything that they’re supposed to do well, ie, economics, finance, accounting, etc., and are hoping to escape accountability for their crimes. They must be prosecuted and disgorgement required because 1) It’s the law and to create a deterrent prospectively 2) Restore credibility and confidence in prosecutorial, regulatory, government/governmental bodies as opposed to their being accomplices, and the markets (which are just that; marketplaces, like fish markets, commodity markets, flea markets, etc., no big deal, particularly as the frauds operate them) 3) It’s the right thing to do because of the magnitude of the fraud (in the hundreds of trillions by some educated assessments) in the many trillions and the fraud on taxpayers (who have been damaged by their fraud and) by bailouts that are finding their way into compensation/bonus packages for the perpetrators . Previous session, suckers’ bear market rally for window dressing for dismal month and quarter to keep the suckers suckered in this secular bear market. Are you a sucker? One in five homeowners owe more than homes are worth, more unemployment to come, many more defaults personal/commercial, many trillions of previously commissioned worthless paper still carried/not written down, etc.. One of Motek’s experts, to his credit, points to reality in saying retreat to cash (take profits) in rallies as these (rallies on bad news), record declines in spending, economy has lots of negatives, insurance companies have lots of negatives, hedge funds liquidating, and importantly, 60% of trades computerized so great for generating commissions but bad for real value (as this week) and very volatile; while another expert echoes bear case as spending down across the board; while another empahasizes bad month on top of bad month for autos; while another says 2008 behind only 1929 and 1987 for bad; and another says no more room for rate cuts, more regulation, mortgage rates up; and finally, political and economic uncertainty cited. In sum, u.s. stocks over-priced and dollar will drop like a stone (excessive printing/creating/debt), Stocks: A Bear Case so sell into rallies/strength/take profits while you can as much, much worse to come. Don’t forget, THEY NEED YOUR MONEY TO COMMISSION and the lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution . Despite another big advance on Friday, paper losses in the U.S. stock market came to $2.5 trillion for the month, according to the Dow Jones Wilshire 5000 Composite Index, which represents nearly all stocks traded in the United States. The 17.7 percent decline was the worst since the 23 percent drop in October 1987 and 1929. Previous day, suckers’ bear market rally on bad news. U.S. Economy: GDP Shrinks (even with fake better than expected GDP numbers from corrupt commerce department) at Fastest Pace Since 2001 The government falsely reported Thursday that the economy shrank only 0.3 percent in the July-September period, still a significant slowdown after growth of 2.8 percent in the prior quarter in the summer, sending the strongest signal yet that a deep recession has already begun. Consumer spending, which accounts for two-thirds of the economy, dropped by the largest amount in 28 years in the third quarter. One expert says multiple levels of things going wrong in u.s. recession, ie., consumer spending down and declining, housing recession, fraudulently worthless investments, worthless Weimar dollars that are being printed/created like mad, etc.. Another expert says fake GDP number in 3rd quarter does not capture slowdown which will be reflected in 4th quarter with minimum 2-4% decline. How are these frauds not being prosecuted and forced disgorgement and preposterously getting taxpayer dollars? The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, none of the real problems (trillions of fraudulent/worthless securities, etc.) have been addressed much less solved so sell into rallies/strength/take profits while you can since much, much worse to come. Previous session, government (fake) numbers on durables (130% better than private estimates…I don’t think so!) and prospectively dollar-crushing 50 basis point rate cut (discounted b.s. talking point many times over by market in prior sucker session), 2.7% drop in the dollar, fed heads said the pace of economic activity has "markedly" slowed as consumer expenditures declined, while inflation pressures are expected (despite worthlessness of the Weimar dollar) to (temporarily) moderate due to the (temporary election year) drop in commodity prices and weaker economic prospects, so still great opportunity to sell into rallies/strength/take profits while you still can (like now) since much, much worse to come as all problems remain. Previous session, all news decisively bad with consumer sentiment far below expected 52% but realistically at 38%, personal bankruptcies/business bankruptcies up sharply (Euler Hermes ACI: Substantial Increase In Business Bankruptcies and worse in 2009 ... , Personal Bankruptcies Increase and 2009 expected to be worse ), Office Vacancy Rates Nationwide Keep Climbing; 2009 will be worse ... , US consumer debt reaches record levels , U.S. budget deficit swells to record $455 billion | Reuters , White House projects record deficit for 2009 - CNN.com , dollar down and dying, record trade deficits, (Lost growth is cumulative. Thanks to the record trade deficits accumulated over the last 10 years, the U.S. economy is about $1.5 trillion smaller. This comes to about $10000 per worker. The damage grows larger each month, as the Bush Administration and Democratic Congress dally and ignore the corrosive consequences of the trade deficit), war crimes/profiteering and global disdain for america and all things american and preposterously based on b.s. alone ie., dollar negative talking point of interest rate decrease (hyperinflationary as will be seen post-election), etc., suckers’ bear market rally on decidedly bad news, 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), lunatic wall street frauds desperation linked to their substantial crimes and booty which must be disgorged through prosecution, so sell into rallies/strength/take profits while you can since much, much worse to come.

THE DOW JUMPS 900 POINTS. SO WHAT? BY MORGAN HOUSE

October 28, 2008 Only 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…

Reality from Farrell: Bottom line: You've been scammed: This is total incompetence, … unethical and criminal. If you put your hard-earned $12,000 under the mattress for the last decade, it would have been worth more than the $11,671 accumulated in a mutual fund. But actually it's far, far worse! Now if you also deduct the fund's 5.75% load (and/or commissions) and inflation of more than 30% the past decade, you see the stock market's a real loser. In short, after 10 years of blindly trusting the Wall Street's advice about stocks, it turns out that investing in the stock market is not a money-making machine, but a big fat greedy black hole that gobbles up your money. ECONOMICS GURU: WORST IS YET TO COME; MARKETS WILL CLOSE FOR UP TO WEEK FROM PANIC... More from Grantham: S&P to 585. He called the bubble, how could anyone doubt his valuation (although even lower is more realistic)? Jeremy Grantham … (some) benefits to the crisis, including increasing personal savings, an end to the hedge fund era, a reminder that government officials are not to be trusted, …among others…Grantham posits… 585 on the S&P 500 (versus today's 877). Frank Motek (back from vacation to save his business hour … none too soon since his program suffered mightily in his absence) experts say: lack of liquidity, new homes and home prices downward trend to continue, expect revisions; another says other nations loaned to u.s. and getting burned, spending in Europe more difficult to ramp up, $2 TRILLION more debt, fed buying u.s. debt which is hyperinflationary, consumer maxed out, grim outlook; another, a wall street shill points to better than expected new home sales [from scandal scarred/corrupt commerce department…riiiiight …(Home sales rise according to discredited commerce department relative to revised downward prior months sales (riiiiiight…that’s the way to work the statistics…at least the prior months fake stats can still be good for something) but prices sharply fall)] but to his credit does say there are a pile of concerns including liquidation of positions, ‘n carry trades’ (sic), yen/dollar disparity; r.e. analyst says median price for homes still heading down and another says new home sales this month not sustainable, foreclosures high even with freeze; oil analyst says oil demand in China down, impacting price; finally, another analyst says temporary dollar spike because of unwinding of leveraged trades (in dollars), commodities/assets/metals decline as investors/traders/holders sell off assets (cover margin calls, redemptions, etc.), u.s. stocks still over-priced and dollar will drop like a stone (excessive printing/creating/debt), Stocks: A Bear Case so sell into rallies/strength/take profits while you can as much, much worse to come. Previous session: you know the worst is yet to come when the so-called wizards of fraudulent wall street laud the day’s 5-9% decline as a pyrrhic victory (coulda been worse…..riiiiight!) that is neither victory nor the end of the downward adjustment to reality and the scope of their fraud, indeed one expert now points to the realization that america has become the exporter of economic weakness/fraud as hedge funds, etc., continue to liquidate positions/assets (margin calls, redemptions, etc.) , sell into rallies/strength/take profits while you can as much worse to come. Markets Nosedive on Grim Economic News , World markets sink as recession realities spread , 79th anniversary of 1929 Wall Street Crash... , previous day suckers’ bear market rally/400 point swing/programmed trades to the upside into the close on decidedly bad news …I don’t think so!… sell into rallies/strength/take profits while you can since much, much worse to come Economist Roubini Predicts Hedge Fund Failures, Panic, Closed Markets , Job losses accelerating, and the worst is ahead , Banks borrow record amount from Fed... , on top of previous day’s near 200 point swing to the upside into the close to keep the suckers suckered as ‘experts’ say: earnings 11% below expectations, business bad and getting worse, recession, substantial job cuts, big problems in Europe including writedowns of u.s. originated worthless fraudulent paper / another says realization source of the now global problems is u.s., fed throwing money at problems (wall street frauds) but not making it to the economy, not enough money to cover the negative (fraud) and need for flush out and adjustment of inflatede/bubble/illusory values, and another says reality implies 25% decline which is worst since 1937, sell into rallies/strength/take profits while you can since much, much worse to come Recession Will Last At Least Two Years: Roubini , Recession Now: It's Deep and It's Going to Last a Long Time, Sonders Says ; previous day modest losses relative to reality as only 15% of americans believe the nation is going in the right direction (what dummies!) which is slightly more than congress’ approval rate and just slightly less than bushes’ approval rate, More banks may fail, IMF warns , Weak profit picture and weak/declining economy worries and fear of being held criminally accountable for their fraud hurt Wall Street , sell into rallies/strength/take profits while you can since much, much worse to come , previous day’s suckers’ bear market rally on bad or false news as ie., leading economic indicators up though all economists expected down since major components thereof (stock prices, manufacturing/industrial indices, employment, etc.) all down, economy so bad they’re going to print more worthless hyperinflationary Weimar dollars (that they don’t really have), gave another $12 billion to AIG on top of the other billions of taxpayer funds, yet 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 , The Crumbling U.S. Economy, Worse is Yet to Come , Worst slump since Great Depression , Rapid Downward Revisions in Expected Economic Growth , and all this b.s. despite reality on top of previous session suckers’ 500 point swing/programmed trades to the upside into the close to close modestly lower on much worse than expected news on top of previous suckers’ bear market rally/800 point swing/programmed trades to the upside into the close on decidedly bad news …I don’t think so!

The average investment-grade industrial company bond is yielding 4.95 percentage points over Treasuries with comparable maturities, Moody's says. That's about the long-term average for much riskier junk bonds. "It's the widest level since 1932-1933," says John Lonski, Moody's chief economist. That was during the, ahem, Great Depression.

There is more hurt in store for the U.S. equity markets. If you are still thinking of riding this one out, consider Japan. Japan's Nikkei 225 is our window into the future. From its 1990 high of 40,000 it fell as low as 7,800, an 80% drop. A similar correction in the U.S. would translate into Dow 2,500.

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 regions Billion-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 hole Total 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 soon US 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:

· · Industrial production plunged 2.8% in September, the biggest drop since September 1974.

· · The Philadelphia Fed's manufacturing index slumped to its lowest level since October 1990.

· · The National Association of Home Builders' housing market index hit a record low.

· · The Fed's October Beige Book showed across-the-board weakening of activity in all 12 reporting districts.

· · September retail sales fell 1.2%, the biggest drop since Aug. 2005.

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 Fed misguided 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 point previous 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 record 16.3 %, 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 , so great 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, but suckers’ 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 debt in 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 bears Peter 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 another seasoned 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 of foreclosure 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 longer hide 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 chart second 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 STREET FOCUS/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 Crash Similarities 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 SIGNAL YAHOO 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 ESTATE PLUNGING, 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 UPSIDE GOING 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 INCLUDING HOME 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))

(9-23-10) Dow 10,662 -77 Nasdaq 2,327 -7 S&P 500 1,125 -9 [CLOSE- OIL $75.18 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,296 (+24% for year 2009) / SILVER $20.22 (+47% for year 2009) PLATINUM $1,638 (+56% for year 2009) / DOLLAR= .74 EURO, 84 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.56% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-22-10) Dow 10,739 -22 Nasdaq 2,334 -15 S&P 500 1,134 -5 [CLOSE- OIL $74.94 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,274 (+24% for year 2009) / SILVER $20.65 (+47% for year 2009) PLATINUM $1,623 (+56% for year 2009) / DOLLAR= .74 EURO, 84 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.55% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-21-10) Dow 10,761 +7 Nasdaq 2,349 -6 S&P 500 1,139 -3 [CLOSE- OIL $73.52 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,274 (+24% for year 2009) / SILVER $20.65 (+47% for year 2009) PLATINUM $1,623 (+56% for year 2009) / DOLLAR= .75 EURO, 84 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.59% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-20-10) Dow 10,753 +145 Nasdaq 2,355 +40 S&P 500 1,142 +17 [CLOSE- OIL $74.86 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,280 (+24% for year 2009) / SILVER $20.80 (+47% for year 2009) PLATINUM $1,623 (+56% for year 2009) / DOLLAR= .76 EURO, 85 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.71% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-17-10) Dow 10,608 +13 Nasdaq 2,315 +12 S&P 500 1,125 -0- [CLOSE- OIL $73.66 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,278 (+24% for year 2009) / SILVER $20.83 (+47% for year 2009) PLATINUM $1,609 (+56% for year 2009) / DOLLAR= .76 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.75% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-16-10) Dow 10,595 +22 Nasdaq 2,303 +2 S&P 500 1,125 -1 [CLOSE- OIL $74.57 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,274 (+24% for year 2009) / SILVER $20.74 (+47% for year 2009) PLATINUM $1,608 (+56% for year 2009) / DOLLAR= .76 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.76% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-15-10) Dow 10,573 +46 Nasdaq 2,301 +11 S&P 500 1,125 +3 [CLOSE- OIL $76.02 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,268 (+24% for year 2009) / SILVER $20.57 (+47% for year 2009) PLATINUM $1,598 (+56% for year 2009) / DOLLAR= .76 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.72% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-14-10) Dow 10,526 -18 Nasdaq 2,289 +4 S&P 500 1,121 -1 [CLOSE- OIL $76.80 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,272 (+24% for year 2009) / SILVER $20.43 (+47% for year 2009) PLATINUM $1,589 (+56% for year 2009) / DOLLAR= .77 EURO, 85 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.68% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-13-10) Dow 10,544 +81 Nasdaq 2,285 +43 S&P 500 1,122 +12 [CLOSE- OIL $77.19 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,247 (+24% for year 2009) / SILVER $20.15 (+47% for year 2009) PLATINUM $1,565 (+56% for year 2009) / DOLLAR= .77 EURO, 83 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.74% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-10-10) Dow 10,462 +47 Nasdaq 2,242 +6 S&P 500 1,109 +5 [CLOSE- OIL $76.45 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,248 (+24% for year 2009) / SILVER $19.83 (+47% for year 2009) PLATINUM $1,551 (+56% for year 2009) / DOLLAR= .78 EURO, 83 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.79% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-9-10) Dow 10,415 +28 Nasdaq 2,236 +7 S&P 500 1,104 +5 [CLOSE- OIL $74.67 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,251 (+24% for year 2009) / SILVER $19.86 (+47% for year 2009) PLATINUM $1,553 (+56% for year 2009) / DOLLAR= .78 EURO, 83 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.76% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-8-10) Dow 10,387 +46 Nasdaq 2,229 +20 S&P 500 1,098 +7 [CLOSE- OIL $74.67 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,258 (+24% for year 2009) / SILVER $19.79 (+47% for year 2009) PLATINUM $1,553 (+56% for year 2009) / DOLLAR= .78 EURO, 83 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.65% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-7-10) Dow 10,340 -107 Nasdaq 2,209 -25 S&P 500 1,091 -12 [CLOSE- OIL $74.09 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,259 (+24% for year 2009) / SILVER $19.91 (+47% for year 2009) PLATINUM $1,555 (+56% for year 2009) / DOLLAR= .78 EURO, 83 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.60% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-3-10) Dow 10,447 +127 Nasdaq 2,233 +33 S&P 500 1,104 +14 [CLOSE- OIL $74.60 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,251 (+24% for year 2009) / SILVER $19.95 (+47% for year 2009) PLATINUM $1,551 (+56% for year 2009) / DOLLAR= .77 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.71% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-2-10) Dow 10,320 +51 Nasdaq 2,200 +23 S&P 500 1,090 +10 [CLOSE- OIL $74.02 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,253 (+24% for year 2009) / SILVER $19.65 (+47% for year 2009) PLATINUM $1,545 (+56% for year 2009) / DOLLAR= .77 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.63% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(9-1-10) Dow 10,269 +255 Nasdaq 2,176 +62 S&P 500 1,080 +30 [CLOSE- OIL $73.91 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,248 (+24% for year 2009) / SILVER $19.39 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .78 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.58% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-31-10) Dow 10,014 +5 Nasdaq 2,114 -6 S&P 500 1,049 -0- [CLOSE- OIL $71.92 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,251 (+24% for year 2009) / SILVER $19.39 (+47% for year 2009) PLATINUM $1,526 (+56% for year 2009) / DOLLAR= .78 EURO, 84 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.47% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-30-10) Dow 10,009 -141 Nasdaq 2,119 -34 S&P 500 1,048 -16 [CLOSE- OIL $74.70 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,238 (+24% for year 2009) / SILVER $19.03 (+47% for year 2009) PLATINUM $1,523 (+56% for year 2009) / DOLLAR= .79 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.53% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-27-10) Dow 10,151 +165 Nasdaq 2,153 +35 S&P 500 1,065 +17 [CLOSE- OIL $75.19 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,242 (+24% for year 2009) / SILVER $19.06 (+47% for year 2009) PLATINUM $1,545 (+56% for year 2009) / DOLLAR= .78 EURO, 85 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.65% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-26-10) Dow 9,986 -74 Nasdaq 2,118 -17 S&P 500 1,047 -8 [CLOSE- OIL $73.36 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,238 (+24% for year 2009) / SILVER $18.98 (+47% for year 2009) PLATINUM $1,539 (+56% for year 2009) / DOLLAR= .78 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.48% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-25-10) Dow 10,060 +19 Nasdaq 2,141 +17 S&P 500 1,055 +3 [CLOSE- OIL $72.52 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,241 (+24% for year 2009) / SILVER $19.03 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .78 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.54% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-24-10) Dow 10,040 -134 Nasdaq 2,123 -36 S&P 500 1,051 -15 [CLOSE- OIL $71.63 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,233 (+24% for year 2009) / SILVER $18.38 (+47% for year 2009) PLATINUM $1,517 (+56% for year 2009) / DOLLAR= .79 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.50% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-23-10) Dow 10,174 -35 Nasdaq 2,159 -20 S&P 500 1,067 -4 [CLOSE- OIL $73.11 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,226 (+24% for year 2009) / SILVER $17.99 (+47% for year 2009) PLATINUM $1,506 (+56% for year 2009) / DOLLAR= .78 EURO, 85 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.61% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-20-10) Dow 10,213 -58 Nasdaq 2,179 –0- S&P 500 1,071 -4 [CLOSE- OIL $73.85 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,228 (+24% for year 2009) / SILVER $18.03 (+47% for year 2009) PLATINUM $1,509 (+56% for year 2009) / DOLLAR= .78 EURO, 85 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.61% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-19-10) Dow 10,271 -144 Nasdaq 2,179 -37 S&P 500 1,075 -19 [CLOSE- OIL $74.43 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,235 (+24% for year 2009) / SILVER $18.33 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .78 EURO, 85 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.58% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-18-10) Dow 10,415 +9 Nasdaq 2,215 +6 S&P 500 1,094 +1 [CLOSE- OIL $75.42 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,231 (+24% for year 2009) / SILVER $18.39 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .78 EURO, 85 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.64% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-17-10) Dow 10,405 +103 Nasdaq 2,209 +27 S&P 500 1,092 +13 [CLOSE- OIL $75.77 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,228 (+24% for year 2009) / SILVER $18.60 (+47% for year 2009) PLATINUM $1,545 (+56% for year 2009) / DOLLAR= .77 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.65% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-16-10) Dow 10,302 -1 Nasdaq 2,182 +8 S&P 500 1,079 –0- [CLOSE- OIL $75.24 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,226 (+24% for year 2009) / SILVER $18.43 (+47% for year 2009) PLATINUM $1,534 (+56% for year 2009) / DOLLAR= .77 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.58% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-13-10) Dow 10,303 -17 Nasdaq 2,173 -17 S&P 500 1,079 -4 [CLOSE- OIL $75.40 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,217 (+24% for year 2009) / SILVER $18.11 (+47% for year 2009) PLATINUM $1,523 (+56% for year 2009) / DOLLAR= .78 EURO, 86 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.69% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-12-10) Dow 10,320 -59 Nasdaq 2,190 -18 S&P 500 1,083 -6 [CLOSE- OIL $75.74 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,217 (+24% for year 2009) / SILVER $18.06 (+47% for year 2009) PLATINUM $1,526 (+56% for year 2009) / DOLLAR= .77 EURO, 86 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.74% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-11-10) Dow 10,379 -265 Nasdaq 2,209 -69 S&P 500 1,089 -32 [CLOSE- OIL $78.02 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,199 (+24% for year 2009) / SILVER $17.90 (+47% for year 2009) PLATINUM $1,506 (+56% for year 2009) / DOLLAR= .77 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.69% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-10-10) Dow 10,644 -55 Nasdaq 2,277 -29 S&P 500 1,121 -7 [CLOSE- OIL $80.25 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,198 (+24% for year 2009) / SILVER $18.16 (+47% for year 2009) PLATINUM $1,539 (+56% for year 2009) / DOLLAR= .76 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.77% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-9-10) Dow 10,698+45 Nasdaq 2,305 +17 S&P 500 1,127 +6 [CLOSE- OIL $81.26 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,203 (+24% for year 2009) / SILVER $18.38 (+47% for year 2009) PLATINUM $1,545 (+56% for year 2009) / DOLLAR= .75 EURO, 85 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.82% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-6-10) Dow 10,653 -21 Nasdaq 2,288 -5 S&P 500 1,122 -4 [CLOSE- OIL $80.70 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,205 (+24% for year 2009) / SILVER $18.47 (+47% for year 2009) PLATINUM $1,573 (+56% for year 2009) / DOLLAR= .75 EURO, 85 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.82% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-5-10) Dow 10,676 -5 Nasdaq 2,293 -10 S&P 500 1,126 -1 [CLOSE- OIL $82.01 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,198 (+24% for year 2009) / SILVER $18.33 (+47% for year 2009) PLATINUM $1,573 (+56% for year 2009) / DOLLAR= .75 EURO, 85 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.92% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-4-10) Dow 10,680 +44 Nasdaq 2,303 +20 S&P 500 1,127 +6 [CLOSE- OIL $82.47 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,195 (+24% for year 2009) / SILVER $18.29 (+47% for year 2009) PLATINUM $1,576 (+56% for year 2009) / DOLLAR= .76 EURO, 86 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.95% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(8-3-10) Dow 10,636 -38 Nasdaq 2,284 -12 S&P 500 1,120 -5 [CLOSE- OIL $82.55 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,188 (+24% for year 2009) / SILVER $18.42 (+47% for year 2009) PLATINUM $1,589 (+56% for year 2009) / DOLLAR= .75 EURO, 85 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.90% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!
(8-2-10) Dow 10,674 +208 Nasdaq 2,295 +40 S&P 500 1,126 +24 [CLOSE- OIL $81.34 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,185 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.42 (+47% for year 2009) PLATINUM $1,596 (+56% for year 2009) / DOLLAR= .75 EURO, 86 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.96% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-30-10) Dow 10,465 -1 Nasdaq 2,254 +3 S&P 500 1,101 –0- [CLOSE- OIL $78.95 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,183 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18 (+47% for year 2009) PLATINUM $1,565 (+56% for year 2009) / DOLLAR= .76 EURO, 86 YEN, .63POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.91% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-29-10) Dow 10,467 -30 Nasdaq 2,251 -12 S&P 500 1,101 -5 [CLOSE- OIL $78.36 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,168 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.62 (+47% for year 2009) PLATINUM $1,555 (+56% for year 2009) / DOLLAR= .76 EURO, 86 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.00% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-28-10) Dow 10,498 -40 Nasdaq 2,265 -23 S&P 500 1,106 -8 [CLOSE- OIL $76.99 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,163 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.45 (+47% for year 2009) PLATINUM $1,538 (+56% for year 2009) / DOLLAR= .76 EURO, 87 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.00% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-27-10) Dow 10,538 +12 Nasdaq 2,288 -8 S&P 500 1,113 -1 [CLOSE- OIL $77.51 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,162 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.62 (+47% for year 2009) PLATINUM $1,533 (+56% for year 2009) / DOLLAR= .76 EURO, 87 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.05% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-26-10) Dow 10,525 +100 Nasdaq 2,296 +26 S&P 500 1,115 +12 [CLOSE- OIL $78.98 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,183 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.18 (+47% for year 2009) PLATINUM $1,545(+56% for year 2009) / DOLLAR= .77 EURO, 87 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.00% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-23-10) Dow 10,425 +102 Nasdaq 2,269 +23 S&P 500 1,103 +9 [CLOSE- OIL $78.98 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,189 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.10 (+47% for year 2009) PLATINUM $1,539 (+56% for year 2009) / DOLLAR= .77 EURO, 87 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.98% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-22-10) Dow 10,322 +201 Nasdaq 2,245 +58 S&P 500 1,093 +24 [CLOSE- OIL $79.30 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,195 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.13 (+47% for year 2009) PLATINUM $1,526 (+56% for year 2009) / DOLLAR= .77 EURO, 86 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.93% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-21-10) Dow 10,120 -109 Nasdaq 2,187 -35 S&P 500 1,069 -14 [CLOSE- OIL $76.56 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,185 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.65 (+47% for year 2009) PLATINUM $1,515 (+56% for year 2009) / DOLLAR= .78 EURO, 86 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.88% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-20-10) Dow 10,230 +75 Nasdaq 2,222 +24 S&P 500 1,083 +12 [CLOSE- OIL $77.58 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,191 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.69 (+47% for year 2009) PLATINUM $1,506 (+56% for year 2009) / DOLLAR= .77 EURO, 87 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.93% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-19-10) Dow 10,155 +56 Nasdaq 2,198 +19 S&P 500 1,071 +6 [CLOSE- OIL $76.54 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,188 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.86 (+47% for year 2009) PLATINUM $1,506 (+56% for year 2009) / DOLLAR= .77 EURO, 87 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.95% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-16-10) Dow 10,098 -261 Nasdaq 2,189 -70 S&P 500 1,065 -32 [CLOSE- OIL $76.01 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,188 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.86 (+47% for year 2009) PLATINUM $1,506 (+56% for year 2009) / DOLLAR= .77 EURO, 86 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.93% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-15-10) Dow 10,359 -7 Nasdaq 2,249 -1 S&P 500 1,096 +1 [CLOSE- OIL $76.62 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,207 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.35 (+47% for year 2009) PLATINUM $1,526 (+56% for year 2009) / DOLLAR= .77 EURO, 87 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.98% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-14-10) Dow 10,366 +3 Nasdaq 2,249 +7 S&P 500 1,095 +0 [CLOSE- OIL $77.04 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,207 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.29 (+47% for year 2009) PLATINUM $1,526 (+56% for year 2009) / DOLLAR= .78 EURO, 88 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.05% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-13-10) Dow 10,363 +147 Nasdaq 2,242 +43 S&P 500 1,095 +16 [CLOSE- OIL $77.15 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,213 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.26 (+47% for year 2009) PLATINUM $1,531 (+56% for year 2009) / DOLLAR= .78 EURO, 88 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.11% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-12-10) Dow 10,216 +18 Nasdaq 2,198 +2 S&P 500 1,078 +0 [CLOSE- OIL $74.95 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,198 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.92 (+47% for year 2009) PLATINUM $1,513 (+56% for year 2009) / DOLLAR= .79 EURO, 88 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.05% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-9-10) Dow 10,198 +59 Nasdaq 2,196 +21 S&P 500 1,077 +7 [CLOSE- OIL $76.09 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,210 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.03 (+47% for year 2009) PLATINUM $1,530 (+56% for year 2009) / DOLLAR= .79 EURO, 88 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.06% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-8-10) Dow 10,139 +120 Nasdaq 2,175 +15 S&P 500 1,070 +9 [CLOSE- OIL $75.45 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,196 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.87 (+47% for year 2009) PLATINUM $1,523 (+56% for year 2009) / DOLLAR= .78 EURO, 88 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.03% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-7-10) Dow 10,018 +275 Nasdaq 2,159 +65 S&P 500 1,060 +32 [CLOSE- OIL $74.07 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,198 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18 (+47% for year 2009) PLATINUM $1,531 (+56% for year 2009) / DOLLAR= .78 EURO, 88 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.98% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-6-10) Dow 9,743 +57 Nasdaq 2,093 +2 S&P 500 1,028 +5 [CLOSE- OIL $72.18 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,193 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.84 (+47% for year 2009) PLATINUM $1,513 (+56% for year 2009) / DOLLAR= .79 EURO, 87 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.93% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-2-10) Dow 9,686 -46 Nasdaq 2,091 -10 S&P 500 1,022 -5 [CLOSE- OIL $72.18 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,207 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.72 (+47% for year 2009) PLATINUM $1,503 (+56% for year 2009) / DOLLAR= .79 EURO, 87 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.98% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(7-1-10) Dow 9,733 -41 Nasdaq 2,101 -8 S&P 500 1,027 -3 [CLOSE- OIL $72.95 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,207 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.79 (+47% for year 2009) PLATINUM $1,506 (+56% for year 2009) / DOLLAR= .80 EURO, 87 YEN, .65 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.93% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-30-10) Dow 9,774 -96 Nasdaq 2,109 -26 S&P 500 1,030 -11 [CLOSE- OIL $75.63 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,245 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.61 (+47% for year 2009) PLATINUM $1,545 (+56% for year 2009) / DOLLAR= .81 EURO, 88 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.95% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-29-10) Dow 9,870 -268 Nasdaq 2,135 -85 S&P 500 1,041 -33 [CLOSE- OIL $75.94 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,238 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.51 (+47% for year 2009) PLATINUM $1,539 (+56% for year 2009) / DOLLAR= .82 EURO, 88 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.97% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-28-10) Dow 10,138 -5 Nasdaq 2220 -3 S&P 500 1,074 -2 [CLOSE- OIL $78.25 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,238 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.69 (+47% for year 2009) PLATINUM $1,565 (+56% for year 2009) / DOLLAR= .81 EURO, 89 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.03% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-25-10) Dow 10,144 -9 Nasdaq 2223 +6 S&P 500 1,076 +3 [CLOSE- OIL $78.86 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,245 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.71 (+47% for year 2009) PLATINUM $1,565 (+56% for year 2009) / DOLLAR= .80 EURO, 89 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.11% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-24-10) Dow 10,153 -146 Nasdaq 2217 -37 S&P 500 1,074 -18 [CLOSE- OIL $76.46 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,245 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.71 (+47% for year 2009) PLATINUM $1,565 (+56% for year 2009) / DOLLAR= .81 EURO, 89 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.13% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-23-10) Dow 10,298 +5 Nasdaq 2254 -8 S&P 500 1,092 -3 [CLOSE- OIL $76.35 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,235 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.45 (+47% for year 2009) PLATINUM $1,565 (+56% for year 2009) / DOLLAR= .81 EURO, 89 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.12% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-22-10) Dow 10,293 -148 Nasdaq 2262 -27 S&P 500 1,095 -18 [CLOSE- OIL $77.85 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.30 MID-GRADE/ $3.36 PREM./ $3.71 DIESEL)/ GOLD $1,241 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.90 (+47% for year 2009) PLATINUM $1,574 (+56% for year 2009) / DOLLAR= .81 EURO, 90 YEN, .67 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.17% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-21-10) Dow 10,442 -8 Nasdaq 2289 -20 S&P 500 1,117 -4 [CLOSE- OIL $77.82 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,240 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $19.08 (+47% for year 2009) PLATINUM $1,576 (+56% for year 2009) / DOLLAR= .80 EURO, 90 YEN, .67 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.25% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-18-10) Dow 10,450 +16 Nasdaq 2309 +3 S&P 500 1,117 +1 [CLOSE- OIL $77.18 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,258 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $19.17 (+47% for year 2009) PLATINUM $1,587 (+56% for year 2009) / DOLLAR= .80 EURO, 90 YEN, .67 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.22% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-17-10) Dow 10,434 +25 Nasdaq 2307 +1 S&P 500 1,116 +1 [CLOSE- OIL $76.79 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,245 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.73 (+47% for year 2009) PLATINUM $1,574 (+56% for year 2009) / DOLLAR= .80 EURO, 90 YEN, .67 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.20% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-16-10) Dow 10,405 +5 Nasdaq 2305 +0 S&P 500 1,114 -1 [CLOSE- OIL $76.94 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,230 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.45 (+47% for year 2009) PLATINUM $1,567 (+56% for year 2009) / DOLLAR= .81 EURO, 91 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.26% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!
(6-15-10) Dow 10,405 +213 Nasdaq 2305 +62 S&P 500 1,115 +26 [CLOSE- OIL $76.94 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,234 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.57 (+47% for year 2009) PLATINUM $1,545 (+56% for year 2009) / DOLLAR= .81 EURO, 91 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.31% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-14-10) Dow 10191 -20 Nasdaq 2243 +0 S&P 500 1,090 -2 [CLOSE- OIL $75.13 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,226 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.41 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .81 EURO, 91 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.26% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-11-10) Dow 10211 +38 Nasdaq 2243 +25 S&P 500 1,091 +4 [CLOSE- OIL $73.78 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,230 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.23 (+47% for year 2009) PLATINUM $1,539 (+56% for year 2009) / DOLLAR= .82 EURO, 91 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.23% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold            Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-10-10) Dow 10172 +273 Nasdaq 2218 +59 S&P 500 1,086 +31 [CLOSE- OIL $75.48 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,222 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.35 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .82 EURO, 91 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.32% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-9-10) Dow 9899 -41 Nasdaq 2158 -12 S&P 500 1,055 -6 [CLOSE- OIL $74.38 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,230 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.19 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .83 EURO, 91 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.20% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-8-10) Dow 9939 +123 Nasdaq 2170 -3 S&P 500 1,062 +11 [CLOSE- OIL $72 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,246 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.38 (+47% for year 2009) PLATINUM $1,547 (+56% for year 2009) / DOLLAR= .83 EURO, 91 YEN, .69 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.26% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-7-10) Dow 9816 -115 Nasdaq 2173 -45 S&P 500 1,050 -14 [CLOSE- OIL $71.45 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,240 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.16 (+47% for year 2009) PLATINUM $1,539 (+56% for year 2009) / DOLLAR= .83 EURO, 91 YEN, .69 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.23% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-4-10) Dow 9,931 -323 Nasdaq 2219 -84 S&P 500 1,065 -38 [CLOSE- OIL $74.61 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,217 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.51 (+47% for year 2009) PLATINUM $1,526 (+56% for year 2009) / DOLLAR= .83 EURO, 92 YEN, .69 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.20% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    This Is a Secular Bear Market and The End of Buy and Hold … and Hope      MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-3-10) Dow 10,235 +5 Nasdaq 2303 +22 S&P 500 1,103 +4 [CLOSE- OIL $74.61 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,210[video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $17.93 (+47% for year 2009) PLATINUM $1,535 (+56% for year 2009) / DOLLAR= .82 EURO, 92 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.37% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

(6-2-10) Dow 10,249 +226 Nasdaq 2281 +58 S&P 500 1,098 +27 [CLOSE- OIL $72.86 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,222 [video] Gold Surges   Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.35 (+47% for year 2009) PLATINUM $1,549 (+56% for year 2009) / DOLLAR= .81 EURO, 92 YEN, .68 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.33% …..…     AP Business Highlights             ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International    MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10      6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file]     Risks Lurk for ETF Investors        The bull market that never was/were beyond wall street b.s. when measured in gold             Property Values Projected to Fall 12% in 2010 Jan 31, 2010           The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010     01-13-10 Forecast for 2010 from Seeking Alpha Contributor     THE COMING MARKET CRASH / CORRECTION   1-28-10 Maierhofer          (01-15-10) 11 Clear Signs Economy Sinking     Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover     Current Economic / Fiscal Charts         Trendsresearch.com forecast for 2009     1-7-10 Crash is coming!          ‘WORST ECONOMIC COLLAPSE EVER’       Must Read Economic / Financial Data                     This Depression is just beginning     The coming depression… thecomingdepression.net     MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC       The Next Wave of Collapse is Coming Sooner than you think       Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

First quarter archive 2010

Beginning Fourth quarter with Eventful November archive 2009

Beginning Fourth quarter with Eventful October archive 2009

AUGUST 31, 2009 THROUGH SEPTEMBER 28, 2009 - BUSINESS UPDATES

Today

NOBEL PRIZE WINNING ECONOMIST: CRISIS AS BAD AS GREAT DEPRESSION OR WORSE    Financial terrorism: US taxpayers bail out Wall Street criminals $4 trillion plus is missing through U.S. federal agency accounts managed by the NY Fed RICO Summary under penalty of perjury to the FBI at their request Reality overthrows ‘history’s actors’ Report confirms Israel’s nuclear arsenal Roubini: Rate Cuts Temporarily and Minimally Reduce Crash Risk, But Dow 7,000 Likely 'Sometime Next Year' Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink To 5,000 The Crumbling U.S. Economy, Worse is Yet to Come   Worst slump since Great Depression   Rapid Downward Revisions in Expected Economic Growth    Recession Will Last At Least Two Years: Roubini     Recession Now: It's Deep and It's Going to Last a Long Time, Sonders Says   Economist Roubini Predicts Hedge Fund Failures, Panic, Closed Markets Markets Nosedive on Grim Economic News Evil Wall Street Exports Boomed With `Fools’ Born to Buy Debt   More from Grantham: S&P to 585. He called the bubble, how could anyone doubt his valuation (although even lower is more realistic)?   U.S. Economy: GDP Shrinks (even with fake better than expected GDP numbers from corrupt commerce department) at Fastest Pace Since 2001 Credit-Default Swaps on US Treasuries Have Risen Nearly 40 Percent Since Bailout Law Signed; Now About the Same as on Mexican and Thai Government Debt america’s credit rating will be downgraded   Where'd the bailout money go? Shhhh, it's a secret fraud (AP)   `ECONOMICS GURU: WORST IS YET TO COME; MARKETS WILL CLOSE FOR UP TO WEEK FROM PANIC...` Washington is Powerless to Stop the Coming Economic Depression    Whitehead sees slump worse than Depression   Dollar’s Days Numbered, Buy Commodities: Jim Rogers    America’s economic crisis is beyond the reach of traditional solutions Cost Of Bailout Hits $8.5 Trillion Worst is yet to come for economy ***'Crisis Only Just Beginning':* Crisis/Video Right About the Crash, Peter Schiff Sees More Pain Ahead         The Great Depression of the 21st Century: Collapse of the Real Economy   “The Dollar Standard Is Coming To An End”   Busted in Washington    CIA Adds Economy To Threat Updates    Financial Disaster Will Lead to Civil Disorder in 2009 or 2010, Says Secret Citibank Memo   Renowned economist Mikhail Khazin : U.S. will soon face second “Great Depression” America Has No Means to Recover from a Depression US budget deficit to reach USD 1 trillion     Jim Rogers calls most big U.S. banks “bankrupt”   BILLIONS VANISH IN EPIC HEDGE FUND FRAUD    Citadel suspends redemptions from two hedge funds World faces “total” financial meltdown: Bank of Spain chief Check This Graph-Proof we are going into a Great Depression. Notice MASSIVE job losses. Is there really any doubt any longer?   Paulson Was Behind Bailout Martial Law Threat    Fed Hides Destination Of $2 Trillion In Bailout Money    Another Prominent Economist Forecasts Depression, Says Gold To Hit $2000   Fed Secretly Lends $2 Trillion to Banksters without Oversight   Depression Unrest Turmoil Instability Riots all coming and SOON       JAPAN: “There has never been data this bad for any major economy - even in the great Depression”; “We are literally looking at the unimaginable”     Obama predicts more bank failures   California goes broke, halts $3.5 billion in payments    It’s Getting Ugly: Economist Says Hoard Gold & Scotch Paul Joseph Watson | Williams predicts hyperinflationary depression will mean a $100 dollar bill is worth less than toilet paper WORLD TO STAY IN SLUMP   US is Already Bankrupt: Analyst   The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed    U.N. panel says world should ditch dollar          Not Just a Few Bad Apples - Corruption is Systemic in America 65 Trillion - U.S. Financial Obligations Exceed The Entire World’s GDP `RECORD: NATIONAL DEBT HITS $11 TRILLION...`    US Depression -The Truth Is Here    The Economist, a Widely Respected and Authoritative Financial/Economic Publication: U.S. In Depression, Not Recession      Video: Crash Will be Worse than Great Depression   Great Recession/Depression of 2008, et seq., Worse Than All Others IMF warns of Great Depression   Stocks Could Drop 20%, No Safe Haven: Dr. Reality    Celente Correctly Predicts Revolution, Food Riots, Tax Rebellions By 2012 Former chief economist: U.S. in a depression   Merrill Lynch’s Chief Economist: We’re Already In a Depression Ray Dalio: A Long and Painful Depression - Barron's Interview        Gerald Celente Predicts Economic Armageddon by 2012      This DEPRESSION will last 23-26 YEARS! Government is POWERLESS!    Trendsresearch.com forecast for 2009   What the Pros Say: US Is Now ‘Bankrupt’    ‘WORST ECONOMIC COLLAPSE EVER’    Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression          Celente: U.S. Has Entered “The Greatest Depression”    Entering the Greatest Depression in History Andrew Gavin Marshall | The economic crisis is anything but over, the “solutions” have been akin to putting a band-aid on an amputated arm.     September 30, 2010

U.S.National Debt (real time)**

9-24-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

The Bulls Are Looking Tired by John Nyaradi ‘Today's Indicators:

Red Flag: We Expect Lower Prices Ahead

Daily Technical Sentiment Indicators: Optimistic (Bearish)

Short Term Market Condition: Overbought (short term bearish)

Short Term Trend: Down

Medium Term Trend: Down

Long Term Trend: Down

Negative action in the U.S. markets and around the world yesterday left me with the distinct impression that the bulls are getting tired.

On a fundamental basis, the bad news was headlined by that pesky unemployment problem just won’t go away with a rise in weekly claims yesterday, while on the corporate front, Rite Aid (RAD) and Advanced Micro Devices (AMD) got whacked for not meeting earnings expectations and Blockbuster (BBI) filed for bankruptcy.

The Senate decided they didn’t want to deal with the soon to expire “Bush Tax Cuts” until after the election which inserts more than a hint of uncertainty as well as a “ticking clock” into this all important situation.

Overseas storm clouds continued gathering (yet again) as Ireland is in a confirmed double dip with its 2nd Quarter GDP contracting while Germany’s growth slowed more than expected.

Finally, battle scarred veteran Paul Volcker summed it all up by saying that “the financial system is broken” and that it is “so difficult to get out of this recession because of the basic disequilibrium in the real economy.” (Mr. Volcker obviously doesn’t watch financial television.)

On the technical front, the S&P sliced right back down through the 1130-1135 level that had provided such strong resistance and now was supposed to be support and thus broke the upwards trend line in place since the beginning of the early September rally.

Yesterday’s close at 1124 leaves the index 8 points above its 200 Day Moving Average, the widely accepted demarcation line of bull and bear markets.

Internals continue to weaken in terms of breadth, Advance/Decline line, and Up/Down Volume, all indicating lack of strength in the upwards direction.

Today we get Durable Goods and New Home Sales but looming ever larger next week are some huge reports that we’ll discuss in detail on the weekend report.

For today, Wall Street Sector Selector remains in the “Red Flag” mode, expecting lower prices ahead.

Disclosure: SH, SEF, EFZ, VXX, SPY Put Option’

This is an especially great opportunity to sell / take profits! There’s an old axiom that remains as true today as ever; viz., ‘don’t look a gift horse in the mouth’, that is of course unless you’re of the ‘buy and hold’ mentality. Specifically, if you recall the recent market rally on the better than expected unemployment numbers from the government, albeit false data based on estimates that of course were as true as ‘bernie madoff is a reliable, trustworthy, seasoned professional with whom to entrust your money for investment’. The unemployment numbers just came in decidedly worse than expected (and in the ‘wrong direction’, that spin accorded ‘down but not as bad as before’ b* s* ) yet the market has this day rallied like no tomorrow with used home foreclosure sales the other ‘heralded’ good news. This is about keeping the suckers sucked in for now, and window dressing for the month and the 3rd quarter which can be and is manipulated, particularly with computerized (and high frequency) trades and which commissions they’ll get again on the way down. There is nothing to support these overbought stock prices, fundamentally or otherwise. These are desperate criminals ‘at work’. Even wall street shill Buffett is saying we’re still in a recession (depression) Buffett: We're Still in a Recession [ Wow! A moment of lucidity from Buffet which belies his prior ‘rosy wall street shill talk’, but his greater candor is welcomed nonetheless although the ‘d’ (for depression) word is more appropriate and accurate.] Roche ‘Warren Buffett disagrees with the NBER. He says we’re still in a recession and likely to remain in a recession for quite a while. These comments are far more tempered than the ones that were published last week. Of course, my favorite part in this clip is where he says the U.S. government did the right thing in responding to the crisis. They certainly did the right thing for Berkshire Hathaway (BRK.A) shareholders. Whether or not they did the right thing for America is a whole other story…’ [ And, of course we now know that it wasn’t the right thing for america … The question inevitably becomes, ‘Who’s manipulating who, what, and why? After all, we know defacto bankrupt america’s pervasively corrupt! ] … Then of course there’s been the full-moon-effect which enhances the lunacy already typical of the frauds on wall street.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

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). ]

Examining the Current Market: No Fear Slusiewicz ‘…On Friday 98% of the S&P 500 companies were up. Generally fast run ups like the one we’ve just gone through, followed by exponential blow offs like what we witnessed on Friday causes me to take a more cautious point of view. It seems that the Fed is attempting to juice the markets with their Permanent Open Market Operations. This week alone the Federal Reserve purchased $11.15 Billion worth of various US Treasury securities from the seven primary banks. What the banks did what that immediate boatload of cash is unknown, but one would suspect that a portion of those founds found its way into the stock market. The alternative is to believe that the negative, but less bad durable goods order number and the second worst ever, but still improved from July’s all time low, new home sales drove the markets up 2% on Friday…’

Fridays Rally Makes No Sense at All Reitmeister** ‘Thursday Reity Says: “For now, let’s just assume a healthy little pullback is in store and we’ll take the rest as it comes.“

Friday Reity enjoys foot in mouth sandwich for lunch.Why did the market explode higher on Friday? Maybe because it often does the exact opposite of what makes sense.Yes, you might read articles that say the Durable Goods report was the reason for the market to roar higher. Hey folks, it wasn’t that good, or durable, of a report to make investors feel like our economy is in great shape.

Some other experts may point out that this is a short covering rally. Meaning the hedge funds and traders are taking their money out of recent shorts that are now going awry and that creates additionally buying pressure that moves up the market in the short run. Perhaps that has some validity.And some other experts will talk about how we have gone above key technical levels that are bullish indicators. (Hey, weren’t these same technicians boo-hooing about the Hindenburg Cross just a few weeks ago and how that spelled doom for the market?)

Add it all up and we see why investing is so tricky. And why it’s hard to be 100% bullish or 100% bearish sometimes. The key is to strike a good balance between the possibilities of what might happen. Meaning that when you invest you have to realize there are good odds you can be wrong. So best to hedge your bets a little to realize that the other side of the argument may have some credence.

My Two Cents

(During the day I read many other investment articles of interest. Here are links to some new ones with my 2 cents added underneath).
Most (And Least) Valuable Global Brand NamesWhat's funny is that there is very little correlation between a highly respected brand and share price appreciation. Probably because most of these brands are former growth stories that are now much larger and the PE keeps getting compacted to get in line with current growth expectations. Certainly true for MSFT over the last several years. And for GOOG's underperformance this year (by the way, I think that move is way overdone and time to buy GOOG which is now a nice large cap GARP stock).

Goldman's 10 Stocks for Dividend Growth

Is this the best set of 10 dividend yielding stocks? Probably not.

The more important issue is that probably any combination of 10 high yielding stocks will outperform the low yielding 10 year Treasury over that 10 year stretch.

Warren Buffett: The Recession Is Not Over

Its a recognition that corporations can quickly cut costs and improve profitability making it seem like "alls well". However, John & Joan Q. Public are the "cost that gets cut" and for them the recession is alive and kicking.

News for bank failures september 24, 2010 Regulators close banks in Florida, Washington Ryan Holeywell | September 24, 2010 8:59 PM Regulators closed banks in Florida and Washington Friday night, bringing the total number of bank failures ... Bank Failure Friday - September 24, 2010 - Happy Failure Friday Everyone! With the approach of the election season, Barry and his "crack" financial team (those who haven't announced ... FDIC: Federal Deposit Insurance Corporation Bank Closing Information - September 24, 2010 ... Complete Failed Bank List · Failed Financial Institution Contact Search · Bank Failures in Brief ...

Get more discussion results

Housing and Jobs and Leading Economic Indicators...Oh My!

European Debt Worries Resurface

Buffett to taxpayers: Get over your anger Bloomberg News | Au contraire - ‘Taxpayer anger against Obama and Congress …’ is appropriate; after all, it’s your money!

Jobless Claims Up 1st Time in 5 Weeks Zacks | Initial Claims for Unemployment Insurance climbed by 12,000 last week to 465,000. That is the first increase in five weeks.

New U.S. Home Sales Hold at Second-Lowest Level Ever Purchases were unchanged at a 288,000 annual pace, matching July as the second-lowest in data going back to 1963, figures from the Commerce Department showed today in Washington. The median price fell to the lowest level in more than six years.

Gold Climbs to $1,300 on Dollar Concern; Silver at 30-Year High Gold futures rose to a record $1,300 an ounce in New York as investors sought a protection of wealth and an alternative to a weakening dollar. Bullion traded at an all-time in London and silver reached the highest price since 1980.

Lauderdale man’s home sold out from under him in foreclosure mistake When Jason Grodensky bought his modest Fort Lauderdale home in December, he paid cash. But seven months later, he was surprised to learn that Bank of America had foreclosed on the house, even though Grodensky did not have a mortgage.

BOJ Intervenes For Second Time In A Week, Fails The half-life of central bank interventions is getting shorter and shorter.

Look Out Below! Harding ‘…And at a time when last week’s weekly AAII investor sentiment poll showed 50.9% bullish? That’s the highest level of bullishness and complacency since it reached 54.6% bullish in October, 2007 near the October, 2007 top of the 2003-2007 bull market. The other higher reading was 53.3% bullish on May 1, 2008, as the market ended a bear market rally and plunged into its unfavorable season leg down of 2008. Other readings not quite as high, but at interesting times: The poll reached 49.2% bullish just prior to the Jan/Feb correction this year, and 48.5% bullish at the April top this year …’

Nation / World

Feds Expand War On Terror, Raid Communist Antiwar Activists Kurt Nimmo | It will not be long before the government raids members of the patriot movement.

There Must Be Something More Daniel Taylor | Take a step back and look at the big picture.

Gold Breaks Psychological Barrier Kurt Nimmo | Gold has continued its astronomical ascent, reaching a new record-breaking high of $1,300 an ounce today.

Establishment Feigns Outrage At Ahmadinejad’s 9/11 Rant Paul Joseph Watson | Neo-Cons still embrace the official explanation behind the event that tripled the size of government and led to the feds targeting conservative Americans as domestic terrorists.

Killing Off the Small Farm: Alex Jones Talks with Judith McGeary Infowars.com | Alex talks with Judith McGeary, the Executive Director of FARFA, about the government plan to replace small family farms with large corporate factory farms.

Obamacare is even worse than critics thought Washington Examiner | Obamacare won’t decrease health care costs for the government.

The Choice Between Two Americas Scott Lazarowitz | The current America is one of Keynesian, socialist centralized economic social and defense planning, in which the government directs everything by force of gunpoint.

Why America Cannot Win in Afghanistan Infowars.com | An interview with Hamid Gul, the former director of Pakistan’s ISI.

Why an Underwear Bomber Trial with an Entrapment Defense Would be One of the Greatest Events in U.S. History Kurt Haskell | Such a trial could possibly wake up the millions of American citizens that fail to even consider that its government is corrupt, dishonest, and working for those who only seek to consolidate their power and wealth.

Establishment Reacts To Ahmadinejad 9/11 Controversy Like Kid Caught With Hand In Cookie Jar The reaction of establishment politicians and their corporate media mouthpieces to Iranian President Mahmoud Ahmadinejad’s comments about 9/11 is akin to that of a guilty child caught with his hand in the cookie jar and chocolate smeared all over his face.

Establishment Feigns Outrage At Ahmadinejad’s 9/11 Rant The spectacle of a minority of UN diplomats walking out on a speech by Iranian President Mahmoud Ahmadinejad in which he questioned the official story behind 9/11 was instantaneously seized upon by the establishment media and exploited as a way of demonizing any inquiry into the terror attacks.

David Rosenberg: Forget Gold $1300, It’s Going To $3000 It may be overbought on a near-term technical basis, but gold — now on the precipice of breaking above $1,300/oz — is likely to remain in this secular uptrend for quite a while longer. We’re talking years. We’re still talking $3,000/oz.

Dollar Hits All Time Low Against Swiss Franc The USDCHD just printed at 0.9780, the lowest ever in history. The dollar obliteration, and the rush to safety away from the psychopaths of the Federal Reserve continues.

Buffett to taxpayers: Get over your anger Taxpayer anger against President Barack Obama and Congress is counterproductive because policy makers took measures including deficit spending to stimulate the economy, billionaire investor Warren Buffett told CNBC.

Gold Breaks Psychological $1,300 Barrier Gold has continued its astronomical ascent, reaching a new record-breaking high of $1,300 an ounce today. This is the fourth day of record high gold prices. Earlier in the week, the precious metal surged after Federal Reserve boss Bernanke said the banksters will provide extra “monetary stimulus” to boost the collapsing economy.

Bono’s ONE foundation under fire for giving little over 1% of funds to charity Daily Mail | The non-profit organisation set up by the U2 frontman received almost £9.6million in donations in 2008 but handed out only £118,000 to good causes (1.2 per cent).

Drudgereport: `FBI Serves 'Terrorism' Warrants in Chicago, Minneapolis...`
`...raids homes of war protesters Justice Official Calls Dismissal of Black Panther Case 'Travesty'...`
`...Says Dept. Discourages 'Race Neutral' Enforcement of Laws... PAPER: QUEEN TRIED TO USE STATE POVERTY FUND TO HEAT BUCKINGHAM PALACE...`

Thursday Market Outlook: Listening to Herbert Hoover   Instratrader Indicators:

‘Red Flag: We Expect Lower Prices Ahead
Daily Technical Sentiment Indicators: Optimistic (Bearish)
Short Term Market Condition: Overbought (short term bearish)
Short Term Trend: Up
Medium Term Trend: Down
Long Term Trend: Down

So far, this week’s news and market action looks decidedly deflationary and even depression-like and so I went back in time to see what President Herbert Hoover, often blamed for the Great Depression, had to say about his times and to see what we might be able to learn from him about the times we live in.

Some of his most prescient and applicable quotes were:

“Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.” (Certainly an issue today and our money center banks should pay heed)

“It is just as important that business keep out of government as that government keep out of business.” (No doubt about it. Every policy maker in America needs to understand this.)

I’m the only person of distinction who has ever had a depression named for him.” (President Obama might be the second.)

“Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body – the producers and consumers themselves.”

(Dr. Bernanke and his colleagues really need to “get” this one, and judging from what I’m reading this week, I’m not sure they do.)

And, finally, old Herb had a morbid sense of humor when he said, “Blessed are the young for they shall inherit the national debt.” (Unfortunately still too true today.)

So apparently as the old saying goes: “The more things change, the more they stay the same.”

This week so far has been more than a little spooky and reminiscent of Herbert Hoover’s times as we listened to Dr. Bernanke and the FOMC warn of deflation and further quantitative easing and then read today’s housing report which indicated that home prices declined in July by -0.5%.

The FOMC said that “the pace of recovery in output and employment has slowed in recent months…and that “employers remain reluctant to add to payrolls. Housing starts are at a depressed level. Bank lending has continued to contract, but at a reduced rate in recent months.”

“Measures of underlying inflation are currently at levels somewhat below those the Committee judges most consistent, over the longer run, with its mandate to promote maximum employment and price stability…..the Committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support economic recovery and to return inflation, over time, to levels consistent with its mandate.”

So in a nutshell, deflation is a major concern, the $1.5 Trillion the Fed has thrown on this fire has failed to work and now they stand ready to throw more money at this problem in hopes of keeping our economic ship from sinking.

It’s clear what the market thinks of all of this as Treasury bonds continue to rally and gold heads for the stratosphere. Equities cheered Dr. Bernanke’s comments at first but then, realizing that deflation is a bad thing, settled back down to well below the top of the recent range.

One only needs to look at history to see that government efforts have little impact on ending depressions and deflation. The Great Depression didn’t end until the onset of World War II and Japan is a prime example of the ongoing failure of quantitative easing policies as they enter their second “lost decade.”

Today comes the jobs report, home sales and leading economic indicators and we’ll see if any light shines from this most recent data.

Technically, markets remain overbought and due for a correction and so from a fundamental, technical and seasonal perspective, we are in treacherous waters for sure.

We need to learn from Herbert Hoover’s words and experience or fall victim to George Santayana’s famous warning, “Those who do not remember the past are condemned to repeat it.”

Wall Street Sector Selector remains positioned to the “short” side of the market, expecting choppy to lower prices ahead.

Disclosure: SH, EFZ, SEF, SPY put option’

Am I Too Bearish? [ In a word, No! ] Cullen Roche ‘1) Am I too bearish? Some commenters have noted that I seem a bit too bearish all the time. Some have even gone so far as to imply that I am a permabear. These are fair comments, but require some clarification. The other day I mentioned my top down approach to the markets. Most of what I write about here at Pragmatic Capitalism is a macro view. Therefore, you get a heavy dose of macro with a dollop of micro. I am of the belief that we are in a secular bear and a balance sheet recession. Therefore, you get a pretty heavy dose of bearish arguments thrown at you. Nonetheless, I try to balance the site out with some of the more reasonable bullish arguments. What I am not, however, is a permabear. Within this macro outlook I have been bullish at many of the most opportune moments in the last few years. Most notable was my bottom call on March 8th when everyone in the universe was negative and I said the government was about to engage in an unprecedented market intervention that would be bullish for stocks. More recently on September 1st I was asked specifically if I was shorting the market. My response:

Ideally I would, however, I think it’s dangerous to build shorts right now. If the market is about to collapse then it’s about the most widely known collapse ever. Markets don’t tank when everyone is this bearish unless there is some sort of extreme event (which isn’t occurring currently). I think the April period when I was very negative (and short) is a great example.

I have actually been looking for a spot to get long even though my macro outlook is negative (which it has been for several years).

Now, in fairness, I did not buy for my macro equity strategy so don’t take this as some form of revisionist history where I am patting myself on the back for a trade that never occurred. On September 2nd I got what I later referred to as a “soft buy signal” as opposed to a conviction buy signal (more on this below). In hindsight it’s easy to say that I should have had more conviction in the signal and simply bought stocks, but that’s not my modus operandi. As I have previously explained, I have rules within my micro outlook that guide my various strategies and approaches. I trade the indicators (in this case a proprietary algorithm) and not the market. My rules tell me when to buy, sell and short. If my strict rules are not met I do not act.I have often referred to myself as a lion in the grass. The lion is not greedy. She does not just run wildly across the plains chasing antelope (thinking of day traders here). Instead, she devises a plan and lies in wait as the plan unfolds to her liking. If the environment is not right she does not act. There is too much at stake for her to make mistakes and risk losing a meal that might feed an entire pride for weeks or months. My mentality is no different. I am not frantically trading therefore you get a small dose of my trading perspective. Instead, I am measuring the risk environment day by day waiting for the antelope to step just close enough so I can react in a way that gives me very good odds of being right, fat and well fed for many months.

2) Quantifying the disequilibrium. As I previously mentioned, I use several strategies. One of these is global macro, however, it has never been my strong suit. It never has been, but it is an approach I have grown increasingly confident about in recent years (a little luck in a tough market environment apparently results in a bit of hubris). Within this strategy I have an equity component. I use dozens of different indicators that measure the markets on a daily basis. These indicators are best summed in an indicator I call quantified disequilibrium. It is a short-term indicator that measures whether the market is excessively risky or not. It combines fundamental analysis with behavioral finance in an attempt to measure the disequilibrium in the market. Since its inception in 2008 it has resulted in 74% total returns vs -22% for the S&P 500. Trade win rate is 84%. I have not calculated risk adjusted returns for the index, but I am certain that they are impressive. Some of its more notable calls include shorting the market crash of 2008, shorting the flash crash of 2009 and buying in early March 2009. After issuing a soft buy signal on September 2nd the index is now flashing the warning signal (but not a short signal). This does not mean the market is necessarily about to decline, but merely means that the risk/reward profile has deteriorated substantially in recent weeks. (chart)

3) Revisiting Swedish models. Some people in this country have a big problem with Swedish models. I certainly don’t. Throughout much of 2008 I mentioned that there were two historical approaches to tackling a debt crisis – the Japan model and the Swedish model. The results were dramatically different. In essence, the Swedes took their medicine. They bit the bullet, forced the banks to take losses and helped stem a panic from occurring. The Japan outcome, as we all know, has not been quite so successful. They allowed zombie banks to earn their way out of the crisis and largely avoided taking their medicine. On the consumer front the U.S. has implemented similar strategies. In general cash for clunkers, homebuyers tax credits, bank bailouts, etc have all been attempts to paper over he debt problem. It clearly hasn’t worked. We have attempted to create capitalism without losers. There is no such thing. In September of 2008 I wrote a letter to the Federal Reserve. It said:

I am writing this letter with regards to the current banking crisis. As you likely know there is precedent for the issues we are currently facing. Not only did Japan enter a similar deflationary period in 1991, but Scandinavia entered an even more similar period around the same time. I have attached the contact info and a paper with a descriptive response to the issue by Arne Berggren. I hope you will forward this message to the appropriate sources as it contains brilliant insight into a situation that is very similar to our current predicament. And please thank the board for their hard work during these trying times. http://www.fdic.gov/bank/historical/managing/sym1-09.pdf

I wonder how different the world would be today if we had allowed more banks to be nationalized (or failed) while focusing our time and energy on the real crux of this crisis – Main Street. Instead, we listened to men who were either misguided and/or had a vested interest in saving the banks (Buffett, Paulson, Geithner, Bernanke, etc). It would be humorous if it hadn’t hurt so many millions of people. My guess is the long-term outlook for the U.S. economy would be far better than it is today if we had not repeated the mistakes of the past.’

Thursday: Bubble, Bubble, Toil and Trouble [ As is obvious, things are getting quite dicey on fraudulent wall street and there’s a typical plethora of insanity in the air (of wall street).] ‘

"I’m forever blowing bubbles,
Pretty bubbles in the air,
They fly so high, nearly reach the sky,
Then like my dreams they fade and die.
Fortune’s always hiding,
I’ve looked everywhere,
I’m forever blowing bubbles,
Pretty bubbles in the air."

Gold, Treasuries, Junk Bonds, Netflix (NFLX) (we shorted them yesterday), Priceline (PCLN) (we shorted them Monday), Credit Default Swaps - take your pick of what is going to be the next bubble to burst.

We shorted TLT again yesterday ($105) as I sure wouldn’t lend the US money at those rates and neither, it seems, will the "smart money" guys anymore. The cost to hedge against losses on U.S. government debt rose to the most in six weeks as investors bet the Federal Reserve will put more cash into the economy. Credit-default swaps on U.S. Treasuries climbed 1.7 basis points, the biggest increase in more than three weeks, to 49.4, according to data provider CMA. The Fed said Tuesday that slowing inflation and sluggish growth may require further action. The statement positioned the central bank to expand its near-record $2.3 trillion balance sheet as soon as their November meeting - just in time for a Santa Clause boost for the markets.

So why does this not make us bullish? Well, as I said to Members on Tuesday, it was an anticipated statement with no immediate action and we’re at the top of a 10% run for September so, as I said in yesterday’s post, we anticipate a pullback of 2%, back to our 4% line (see post). Also in yesterday’s post, I mentioned our IWM 9/30 $67 puts ($1.10) and the DIA Oct $105 puts (.89) both of which were good for a reload on yesterday’s silly spike, where I said to Members in the 9:56 Alert:

I like the same IWM and DIA puts as yesterday as we test 10,800 on the Dow - I don’t think it’s going to last. Tomorrow we lose the usual 450,000 jobs for the week and we have Existing Home Sales at 10, which can now disappoint as Building Permits were a big upside surprise yesterday. We also get Leading Economic Indicators at 10 but they are expected up just 0.1% and I doubt they go negative. Friday we have Durable Goods, which should be down 2% and New Home Sales at 10, also now set up to disappoint even the very low 291,000 expected. So caution, caution, caution PLEASE!

I had already mentioned in the morning post that "bear is the word" and this is where the free readers tend to get confused because I was all bullish for the beginning of the month but, as I say often enough and as our Members know very well - I am not bullish, I am RANGEISH - which is a very different thing. 10,700 is the top of our range and with the Russell failing to confirm our 5% line at 666 (they hit it but didn’t hold it) kept us cautious and then we turn to the news flow to see if we’re going to have the gas to get past our major resistance lines and, so far, no - we do not.

Right in yesterday’s morning post I said: "The weak dollar will mask a weak market this morning and that will support commodities and the commodity pushers in early trading but watch that dollar, which will likely get bought up by the BOJ at some point and that will send oil and copper down and those strong sectors will pull back and likely lead us back down to test our 4% levels at Dow 10,608, S&P 1,112, Nas 2,288, NYSE 7,072 and Russell 660." Just to be clear, I don’t MAKE the markets do these things - I can only tell you what the market is going to do and how to make money trading it but I’m not the guy with his hand on the switch, so don’t blame me. We flip-flop when we have to because the market changes every day and whether you are a bull or a bear, you are likely to be wrong soon.

Speaking of being wrong, that’s what we were about gold at the beginning of the week when we looked at GLL for a short position at $1,280. We are scaling in, of course but, as I said about gold in yesterday’s chat:

"It’s a bubble. The same statements they are making now were made about housing and oil and tulips. Just keep in mind that that doesn’t stop gold from going to $3,000, just like oil went to $147, up 47% in the last Quarter before it crashed and it ended up all the way at $35 yet "that time is was different" and 1,000 experts told me I was wrong for all of ‘07 and ‘08 and, for 75% of that time - THEY WERE RIGHT!"

Even as gold flies up to $1,299 and copper tags $3.594 in overnight trading, commodities under management dropped 2.3% last month from a record $300Bn to $293Bn. This was the first pullback since January as investors withdrew $5Bn from commodity index swaps - the first monthly decline in 5 years! “There was concern about the U.S. and concern about China that spooked the market,” according to Barclays Capital.

There’s even some in-fighting within the Gang of 12 as Morgan Stanley says investors should buy the lowest-rated corporate debt, while Goldman Sachs says stay away. Bonds graded CCC in the U.S. are the “cheapest” high- yield securities with “economic data once again beginning to surprise to the upside,” Morgan Stanley told clients yesterday in a report. Goldman Sachs says higher-rated speculative-grade debt is the way to go as the economy decelerates.

And what should we do when mommy and daddy are fighting like this? Cash out and go stay at a friend’s house is my advice. The September move may not be over but it sure does look fake at this point and making 10% in a month is plenty for most people’s year so I’m leaning towards quitting while we’re ahead and getting prepared to flip aggressively bearish if our 4% levels don’t hold.

Of course, this is just the follow-through of the pattern we expected post-Fed (see charts in Tuesday’s chat) so we’re just going to enjoy the ride down and we reserve the right to get bullish again (and this does not affect our long-term, hedged trades, just our directional short-term bets) - pending earnings reports, of course.

As we expected, jobs are a bust with weekly unemployment up 12K to 465,000, that’s dipping the US futures about 1% and we still have Existing Home Sales and Leading Economic Indicators at 10, which were already reasons we took bearish positions yesterday. The key is going to be what kind of volume we get on the way down and what levels hold up to give us a clue of whether we are still at the top of our 10,200, 1,070 range or whether we indeed can call our former mid-range new floor. Oil broke yesterday, as we expected (very nice for the OIH puts) and today’s natural gas report at 10:30 is not likely to cheer them up and $73.50 would be a shame to fail. We’ve been tracking the barrel counts over at the NYMEX in member chat and there is still quite a stockpile that needs to be worked off - another bearish factor that’s kept us on our toes as we approached our upside goals.

Asia was mixed this morning but mostly closed for holidays with the BSE posting yet another decline. We looked at some BRIC shorts yesterday, including India but I favored BGZ (ultra-short emerging markets) to shorting IFN (India ETF), which gives fantastic bang for the bearish buck.

The shine is coming off India as they’ve butchered their chance to impress people by hosting the 54-nation Commonwealth Games, with some countries threatening to pull out just weeks before training begins. Work for the Games has been plagued by construction delays, allegations of corruption and friction between officials of the Games Federation and the local organizing committee. A heavier-than-usual monsoon season made finishing the work harder. Some completed venues sprouted bad leaks.

Ireland’s GDP also sprang a bad leak in Q2 as an unexpected 1.2% decline casts serious doubts on the country’s ability to cut the deficit by 3%, feeding concerns over Dublin’s ability to repay it’s debts without outside help. Although "economists" called it wrong, the report is pretty much in-line with the IMF’s expectations, which were far more bearish so not a huge event but worth watching as a sentiment changer, nonetheless. Private sector growth dropped 5% throughout the Euro-zone to 53.8, down from 56.2 in August. Above 50 is still growing but, like Ireland’s GDP, these little set-backs can add up to a change in investor sentiment very quickly.

An appreciation of 20 percent in China’s currency would cause widespread bankruptcies in China’s export sector, where firms operate on thin margins, Chinese Premier Wen Jiabao said on Wednesday. "The conditions for a major appreciation of the renminbi do not exist," Wen said in a speech to U.S. businessmen in New York. He said the appreciation of China’s currency demanded by U.S. lawmakers would not bring jobs back to the United States because U.S. firms no longer make such labor-intensive products.

The Premier is in New York to get his ass kissed by Obama while we pretend to get tough on Chinese currency. As I mentioned last week, China has stopped bying US Treasuries and, for the moment, Japan is filling the gap - but how long will that last as Japan is pressured to apply more stimulus at home?

We’ll be on our toes as we test each of our levels on the way down. Hopefully those 4% lines will hold, which would be impressive with all this negative noise. Durable Goods is ahead of the bell tomorrow morning and it’s very unlikely that report is good and we also get record-low New Home Sales at 10 so there’s nothing to be bullish about into tomorrow’s open and next week we see our own GDP along with Case-Shiller, Consumer Confidence, Personal Income & Spending, ISM and Auto Sales so busy, busy into earnings.

Disclosure: None’

A Warning for the Bulls Cam Hui ‘As NBER has declared the recession over and with the SPX decisively rallied through technical resistance at 1130, traders should be tilting towards the bullish side, right?Not necessarily. Barry Ritholz posted on the 10 things that make him nervous about the market. I generally agree with Barry's assesssments and I would like to add a few more of my own. While I don't have ten items, here is what is bothering me about stocks at the current levels.

Technicals pointing to economic deterioration
Analyzing relative charts, sectors/industries relative to the market, can tell you a lot about what the consensus is thinking. Here is the relative chart of the Morgan Stanley Cyclicals Index: (chart)The chart looks like an inverted saucer to me - which is bearish. The cyclicals deteriorated through a relative uptrend in May and are now in a relative downtrend. This is not the picture of a robust economic recovery.What's more, when I look at housing, as proxied by XHB against the market, it isn't signalling a rip roaring recovery either. (chart)As well, the Banking Index looks terrible against the market. This picture looks a lot like the relative chart of the cyclicals - a relative downtrend within an inverted saucer top formation. Without leadership from the Financials, can a new upleg be launched?(chart)For the followers of my Inflation-Deflation Timer mode, I refer to my latest comment indicating that I am getting very mixed signals. The model has moved to a technical "inflation" signal. I would tend to discount that signal and remain in "neutral" because of the anomolous condition of strong commodity prices and falling bond yields.

Watch out for the double-tip talk
John Hussman has been writing in the last several weeks about impending deterioration in economic indicators [emphasis added]:

As I've emphasized in recent weeks, the U.S. economy is still in a normal "lag window" between deterioration in leading measures of economic activity and (probable) deterioration in coincident measures. Though the lags are sometimes variable, as we saw in 1974 and 2008, normal lags would suggest an abrupt softening in the September ISM report (due in the beginning of October), with new claims for unemployment softening beginning somewhere around mid-October. It's possible that the historically tight relationships that we've reviewed iin recent weeks will not hold in this particular instance, but we have no reasonable basis to expect that. Indeed, if we look at the drivers of economic growth outside of the now fading impact of government stimulus spending, we continue to observe little intrinsic activity.

Already, the employment picture is ominous:

IMF Managing Director Dominique Strauss-Kahn has warned about a jobless recovery.

The New York Times reports that older Americans are worrying that they will be permanently locked out of employment. Even if that isn't true, these concerns will serve to put a lid on their spending.

Polls show that unemployment is rising again.

At a local level, Gregor Macdonald reports that California employment is falling again.’

Jobless Claims Up 1st Time in 5 Weeks Zacks | Initial Claims for Unemployment Insurance climbed by 12,000 last week to 465,000. That is the first increase in five weeks.

Is the Economy as Broke as Lehman Was? Michael Hudson | American homeowners are victims, not crooks.

State unemployment: Jobs picture gets worse in 27 states CNNMoney | On a state-by-state basis, the jobs picture continues to look a lot more grim in places like Nevada, Michigan and California.

Obama Administration Is ‘Anti-Business’: Jack Welch High unemployment may last for a long time because of the sluggish economy, bad politics and advances in technology, Jack Welch, author of “Straight from the Gut,” told CNBC Thursday.

Did the Fed Really Say Inflation Isn’t High Enough? Get ready everybody. Things are about to get a lot more expensive.

Manufacturing’s decline threatens national security, House panel hears The hollowing-out of the US’s industrial base means the country is risking its national security by being dependent on foreign contractors, experts told a congressional panel Wednesday.

Euro Survival ‘Silly’ Question: Ex-ECB Board Member The question whether the single European currency will survive the current crisis is a “silly” one because the present situation created opportunities to actually make the monetary union stronger, Otmar Issing, president of the Center for Financial Studies and a former ECB board member told CNBC Thursday.

Nation / World

Delaware Sends Infowars.com “First Offense Warning” for Sign Kurt Nimmo | The government of Delaware either is unaware that Alex Jones is not responsible for the sign, or is engaged in harassment.

Obama Admin predicts small scale terror… in time for elections, again? Aaron Dykes | “Terrorism” concerns necessarily hinge on fear, and it is now completely predictable that an otherwise unpopular Obama Administration would roll out the threat of terror to bolster support for the 2010 elections.

Proposed Law Would Allow Justice Department to Shut Down Websites Kurt Nimmo | Law is the latest effort by the government to control and eventually roll back the free and open internet under the guise of protecting copyright.

Alex Jones: ‘UN a Nazi movement’ Russia Today | A growing number of Americans are increasingly frustrated with international groups like the UN, IMF and World Bank.

The Globalists Plan for a Coming World Currency Mark Matheny | “Give me control of a nation’s money and I care not who makes her laws.”

Proposed Law Would Allow Justice Department to Shut Down Websites The Senate Committee on the Judiciary will consider action today on a bill entitled Combating Online Infringement and Counterfeits Act, ostensibly designed to allow the Justice Department to combat copyright infringement.

Obama Admin predicts small scale terror… in time for elections, again? “Terrorism” concerns necessarily hinge on fear, and it is now completely predictable that an otherwise unpopular Obama Administration would roll out the threat of terror to bolster support for the 2010 elections.

Establishment Upset We’re Not Discussing Mindless Drivel Tom Krazit of CNet News is apparently upset that someone would attempt to create talking points of national interest that are not focused around the moronic behavior of vacuous celebrities like Lady Gaga, Justin Bieber, and whatever other mindless drivel the corporate media serves up on a daily basis.

Congressman Wants Overpopulation Myth To Be Taught In Schools A Democratic Congressman has called for schools and centres of education to “promote the agenda” of climate change and the idea that unfettered population growth is killing the planet.

Google’s Eric Schmidt: “when you post something, the computers remember forever” Google CEO Eric Schmidt went head-to-head with Stephen Colbert yesterday evening to discuss everything from data-mining to China to Schmidt’s “joke” about privacy.

Feds Target Americans As Terrorists In Effort To Break Back Of Big Government Resistance The feds are up to their old tricks once again – demonizing American citizens who are politically engaged and use the Internet as domestic terrorists in a transparent ploy to chill free speech and immobilize resistance to big government – when in actual fact every major terror plot in the United States was provocateured, contrived or directly facilitated by the federal government itself.

US walks out on Ahmadinejad's UN speech (AP)   - The U.S. delegation walked out of the U.N. speech of Iranian President Mahmoud Ahmadinejad on Thursday after he said some in the world have speculated that Americans were behind the Sept. 11 terror attacks, staged in an attempt to assure Israel's survival.

`Drudgereport: Spitzer: Cuomo 'Dirtiest, Nastiest' Of Politicians … but he made mob’s man cuomo his Cujo / consiglieri attorney general anyway … how pathetic is new york ..... Dead in Afghan chopper crash were all American... Jobless claims rise again... Welch: Administration Is 'Anti-Business'...`
`Zuckerman: The American Dream Has Become a Nightmare...`
`Buffett: 'We're still in a recession'...`

Military toughest on Obama (Washington Post) [ Almost hard to believe since wobama foolishly, in contravention of campaign pledges and sound judgment, has given the ‘sullen mullen militants’, also contrary to reason, everything they’ve asked for and more; kind of a dumbya bush in disguise (but I believe Woodward). Credit must be given to the three officers - retired Lt. Gen. Karl W. Eikenberry, retired Gen. James L. Jones and Lt. Gen. Douglas Lute, the generals tapped for key positions that are traditionally filled by civilians, for their astute but ignored analysis and courage for standing up to the darkly dysfunctional sullen mullenights who got their ill-found way. ) ] Bob Woodward's new book presents three generals in civilian posts as his most skeptical critics.

Large U.S. paramilitary presence in Afghanistan (Washington Post) [ Yeah … defacto bankrupt america can really afford it … you know, to protect (and participate in) their resurgent heroin trade to the benefit of the few ‘insiders’. ] Existence of covert CIA teams, operating near the Pakistan border, is revealed in a new book by Bob Woodward and documents released by WikiLeaks.

GOP to call for spending freeze (Washington Post) [ Presumably because in defacto bankrupt america you can’t spend what you don’t have (or can you) which of course hasn’t stopped them in the past and certainly didn’t stop war criminal dumbya bush, et als. I don’t believe anything they say; and that’s a bipartisan statement. ]"Pledge to America" illustrates how party would govern if it wins control of Congress in Nov.

Trade legislation to advance (Washington Post) [ Riiiight! That evil Chinese currency, ‘the juan dragon’, and those sneaky communist Chinese practicing capitalism (how dare they – but they’ve already lost hundreds of billions on american paper) with the technological transfers from america along with those short-run economic / financial blasts from the past including contraindicated (for defacto bankrupt america) congressional / executive trade legislation (NAFTA, etc.) as america fades to red. Sounds like a plan … of too little, too late in light of the irrevocable structural shift; and, the inevitable blowback and there will be blowback. ] House leaders are moving forward with bill to combat China's currency policies, adding to pressure from the administration and giving lawmakers an election-year chance to vote on a sensitive trade issue.

Mourning in America (Washington Post) [ More like, ‘mourning america’ while the rest of the world, in light of america’s fabricated, illegal wars and war crimes is saying, ‘good mourning america’.]

Sucker's Rally? Reitmeister ‘Why am I trimming profits when the market seems to be rallying?

Are economic conditions really better than a few weeks ago when we were pressed down on Dow 10,000? No. It's just that it’s not as bad as some double dippers thought and so we rallied higher in the range.

Why should we go higher right now? Yes, there does seem to be some “technical momentum”… but I am not a technician. I am a fundamental investor. Plain and simple, the fundamentals don’t support us going much higher until there is more proof of economic growth…not just proof of no double dip.

I am a contrarian by nature as I think most investors will guess wrong given how fear and greed leads to “less than rational” decision making. So I said buy when everyone said to sell. And I was right. Now with many former sellers becoming buyers they are pushing the market above where it should be and thus I say sell. But not an outright sell. Just trim profits and be a bit more defensive until the fundamentals can provide support for a greater advance.

Bond investors waving a yellow flag: We have a breakdown once again between bond and stock investors. The rates on Treasuries went down yesterday when the stock market raged higher. Why is there more flight to safety into government bonds on a day stocks are at the highest level in months? Probably because stock investors are wrong…’

Market Rallies on 'Recession End': Is This a Joke?   Satwaves ‘We learned Monday that the recession that has gripped this country for the last two and a half years actually ended in June of 2009. The markets rallied on the news, yet left a lot of my readers asking what it meant. One of our members whom happens to own over thirty wireless phone stores for example, explained that before the recession, a great month meant 150 to 200 activations per store. A good month resulted in 100 to 150 activations per store, while a not-so-good month came in between 80 to 100 activations per store. Since the recession took hold, this subscriber considers himself lucky to acheive 50 to 65 activations per store, per month. Not wanting to let go of employees with families, this member continues to pay his employees out of his own pocket in the hope that things will get better. Is the recession really over for him? The answer will surprise you. The short answer is yes. Economists define a recession as two quarters of negative GDP growth. In layman's terms, it means only that things stopped getting worse as of June 2009. It does not signify that anything has improved. Think of a receding hairline if you will. Just because it has stopped receding does not mean new hair has grown back. For my friend, and millions of small business owners like him nationwide, things stopped getting worse back in June of 2009. A bottom had been established. Unfortunately, this is where most Americans find themselves living these days. The question going forward is how to fix it. Economists are looking for moderate growth of about 2.6% as we climb out of the recession. Let's apply this factor to the gentleman in the example above. Instead of 50 to 65 activations per month, my friend can look forward to that number increasing to 52 to 67 activations per month over the coming year. This is not something my friend is happy about, and needless to say he gets quite upset when he hears people touting the end of the recession. This will not create jobs. This will not end foreclosures. This will not put an end to the record number of poverty stricken Americans this country now has to contend with. There is a solution however, but unfortunately it would require the politicians on Capital Hill to put aside their differences and actually work for the benefit of the people they represent. It would require a sitting Democratic President to accept an idea from his former Republican rival. Americans want jobs, not unemployment checks and certainly not government programs designed to acclimate people to a life of poverty. The government can and should create those jobs, by building nuclear power plants across the country. Just as job creation in infrastructure lead us out of the great depression, so too can it lead the country now. By now everyone knows about the troubled electrical grid our country faces. Oil and coal generate most of the power we use today. Still, on a hot summer day air conditioning usage results in blackouts in cities and towns across the nation. A new movement is now underway which will test our capacities like never before, in the way of the electric automobile. Where will the power needed come from? I know of one non-public company for instance that has ordered 6000 such cars. Although the idea was first presented by a Republican, a Democrat has the ability to say today that it is a good idea whose time has come. Let both take credit and let America and its people prosper. Nuclear power plants will create jobs in every field from architecture and engineering to food service. It will put to work thousands of carpenters, electricians, plumbers, drywall installers, roofers, landscapers, excavators and the like who will purchase everything from groceries to shoes and yes....even that brand new Droid along with a two year activation. Disclosure: No positions

Investor 'Sugar High' Becomes 'Sugar Crash' Reitmeister … I am highly amused by the different reactions that took place after the FOMC Meeting Announcement. In particular day traders acted like hyperactive children at a birthday party. Instead of screaming for more cake, candy and cola they pounded the table for more stimulus. So when they saw the Fed leaning more in that direction they pushed up the Dow by 100 points in just minutes. Investors came in a bit later to find the traders crashing from the “sugar high”. You could say that the investors were like the parents who needed to clean up after the children’s mess. What investors heard from the announcement was “if the Fed is ready to use more stimulus, then economy must be a LOT worse off than we suspected”. From there the traders rally was deflated and the market ended the day in the red. It will be interesting to see which sentiment prevails going forward …’

The Great Recession is Over. Long Live the Great Deleveraging Marta ‘… The NBER declared that the recession that began in December 2007 ended in June 2009. The 18-month recession represents the longest since the end of WWII. The problem with declaring the recession over is that it suggests an end to the Great Recession. The term Great Recession relies on a misguided concept of the latest period of negative growth as a normal downturn in the business cycle, even if on a global scale. Furthermore, in circumscribing the situation within an 18-month period, the term fails to appreciate the breadth, depth and enormity of the recent - and ongoing - crisis. Think back on the Great Depression. At least that phrase contains the word, “depression,” which carries with it the stigma of a really, really bad, multi-year, economic downturn. However, even that term proves inadequate … What is happening right now, and what has been happening in fits and starts since 2000, is the Great Deleveraging, which in many ways parallels the origins and path of the Great Depression. From 1991 to 2000, just as from 1918 to 1929, the world enjoyed the benefits of The End of History (end of the Cold War), known in the former period as The War to End All Wars. The benefits showed up in the period of “Irrational Exuberance”, known in the earlier period as the “Roaring ‘20’s.” The “Crash of ‘29” was mirrored by implosion of the Internet Bubble in 2000. However, a Depression did not ensue in the ‘00’s because the Fed and the Federal government responded in exactly the opposite way that they did in 1929 and the early-‘30’s. In 2001-2003, the Fed cut interest rates and the Federal government cut taxes. An economic recovery ensued. However, just as growth during the ‘30’s proved ephemeral and sporadic, the recovery of the early- to mid-‘00’s proved unsustainable. In fact, the above-mentioned policies during the early-‘00’s, in concert with other government initiatives like “a home for every American”, increased leverage for large banks, and a failure to regulate hedge funds, actually caused something of another “roaring ‘20’s” that ended in tears in 2007 with the collapse of home lending and then hedge funds. The financial system continued to teeter through 2007, before the start of the Great Recession, and nearly collapsed in 2008. To those who believe that the financial collapse is complete and that the end of the Great Recession marks the end of an economic cycle, if not all our economic woes, you are likely to be surprised when you look back in 10 to 15 years and discover that the term Great Recession spans a much longer period than originally thought; just as the term "Great Depression" has been expanded to an indeterminate end date. There are several reasons that the Great Deleveraging will continue. First, the toxins have not been fully purged from the international banking system, and so financial intermediation will remain significantly impaired. Second, private citizens have yet to fully delever. For example, in the US, many individuals and families are slowly bleeding out financially, trying to offset underemployment in jobs paying considerably less than those lost in the past two years by slowly draining savings to pay for houses that cannot be sold. Third, the governments of several nations, as well as the ECB, the Fed and the IMF, have onboarded or underwritten many of the toxins from the private financial system. These bailouts, combined with the excesses of government forays into excessive social welfare programs, will lead to crises in the future. For example, in the US, government leaders still fail to act on the insolvencies of social security, Medicare and Medicaid. Instead, they outrageously create even more healthcare entitlements and promise that there will be no extra cost. Fourth, some governments, like the U.S. and Japan, have engaged in fruitless Keynesian stimulus projects that have worsened the countries’ fiscal situations without providing the hoped-for growth. In fact, the situation is becoming dire enough that we are beginning to see competitive quantitative easing, which presents Japan with the specter of yet another recession, deflation and a third lost decade. As they try to save their own economy, they will put more pressure on the economies of their trading partners and competitors. At some point, all the balance sheets, those of individuals, banks, governments, central banks and extra-national entities like the IMF, will need to be purged in order to right the global economy. This is the Great Deleveraging, and it’s got years to run before it finally burns out.’

State unemployment: Jobs picture gets worse in 27 states CNNMoney | On a state-by-state basis, the jobs picture continues to look a lot more grim in places like Nevada, Michigan and California.

U.S. household net worth drops Reuters | U.S. household wealth fell by $1.5 trillion in the second quarter.

More Forensic Evidence of Gold & Silver Price Manipulation In this article I have unearthed even more forensic evidence in the form of a correlation between the gold and the silver price which again could not happen by random chance. It is necessarily a result of deliberate market intervention and what’s more it occurs on a continuous basis.

The Dollar Is Just Getting Crushed, And It’s Fallen Through Its August Lows Oof. The dollar is still getting hammered, and it’s not like equities are rallying to make up for it.

Albert Edwards On Terminal Competitive Devaluation, The Nuclear Option, And How The Fed’s Policies May Start An All Out War The recent intervention by the BOJ has quickly become the most contentious decision in global economic circles, with many wondering now that the world economy is off on a course of radical currency devaluation, who will be next, and how far will this game continue?

Gold Hits Another Record as Dollar Tumbles On Fed Announcement It is yet another example of the indispensability of gold as a hedge against the bankster engineered economic implosion.

National / World

US official confirms CIA has 3,000-man ‘covert army’ in Afghanistan A security professional in Kabul familiar with the operation says the 3,000-strong force was set up in 2002 to capture targets for CIA interrogation and handle / enforce the american initiated resurgent heroin trade. Both sources spoke Wednesday on condition of anonymity to discuss matters of intelligence.

US House puts oceans, coasts under UN: Senate vote will seal the deal “It’s too late; it’ll just have to be stopped in the Senate,” Tom, the young male answering the phone in U.S. Rep. John Boehner’s (R-Ohio)Washington D.C. office, said about HR 3534 (CLEAR Act).

Israel again refuses to join nuclear Non-Proliferation Treaty It is against Israel’s interests to join a global anti-nuclear arms treaty and the UN atomic watchdog is overstepping its mandate in demanding it to do so, its nuclear chief said on Tuesday.

“Progressive” Washington Think Tank Censors All Independent 9/11 Research The director of a prominent investigative journalism group has told reporters that the organisation’s work is being censored because it continues to highlight stories surrounding questions over the official explanation of events on the 11th of September 2001.

Orwellian Doublethink: Collapse Is Recovery When the National Bureau of Economic Research announced, after much deliberation apparently, that the economic recession ended in June, 2009, it was as if the news were broadcast from some other planet.

CNN Declares the Constitution Racist In a discussion about Texas governor Rick Perry, CNN’s Rick Sanchez told Wayne Slater of the Dallas Morning News that “people of color” consider the Constitution — in particular the Tenth amendment — racist.

Forget $1,300, Gold Is Heading To $11,000 On Dollar Collapse In light of gold hitting a new all time record high today, Omnis senior managing director James Rickards’ forecast that the precious metal will soar to anything up to $11,00 in the aftermath of a dollar collapse makes the current $1,300 level look tame in comparison.

Google Trends #1 Hot Search ‘Save His Presidency’ Matt Ryan | Today on the Alex Jones Show, Alex asked listeners to Google ‘save his presidency’ in an effort to get the word out about a powerful article by Paul Joseph Watson outlining President Obama’s claim that America can “absorb” a terror attack.

9/11 research to be censored from ‘Project Censored’ Steve Watson | According to its directors, ‘Project Censored’ is facing censorship due to its ongoing commitment to cover 9/11 Truth stories.

Will Obama Force America To “Absorb A Terror Attack” To Save His Presidency? Paul Joseph Watson & Alex Jones | Ominous words suggest desperate administration could turn to false flag in bid to crush resistance against big government.

Alex Jones Talks About Humanity’s Struggle & Future Potential Steve Watson & Alex Jones | Or die before you physically perish.

Economic Collapse Leading to Privatized Police and Corporate Mercenaries Eric Blair | As America continues to implode, it appears that security will go to the highest bidder, leaving average citizens to fend for themselves.

IS THE RECESSION REALLY OVER? SIMON MAIERHOFER, ON TUESDAY SEPTEMBER 21, 2010, 12:29 PM EDT ( link to all charts used in this article )

The National Bureau of Economic Research (NBER) - a panel of economists entrusted with the responsibility to officially declare the beginning and end of recessions - declared the end of this recession. But wait, amidst the sound of popping champagne corks, the snore of complacency and a cheer leading media, you can hear the economy's distress signals.

THE GOOD NEWS

But who likes to hear about gloom and doom. Let's focus on the good news. As per NBER, the longest recession the country has endured since World War II officially ended in June 2009 (see chart below). During this recession, the economy has lost over 7 million jobs while the major market indexes a la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), Nasdaq (Nasdaq: ^IXIC), and Russell 2000 (Chicago Options: ^RUT) lost well over 50% of their value. By declaring that the recession ended 14 months ago, NBER takes advantage of the much-coveted privilege of evaluating the economy in hindsight, as it did in December 2008 when it declared that the recession had started 12 month earlier. (chart)

Investors don't have the luxury of placing trades based on hindsight and need to rely on forward looking data, not the rear view mirror. Based purely on forward looking indicators, the ETF Profit Strategy Newsletter predicted the biggest counter trend rally since the October all-time highs on March 2, 2009 and recommended buying long and leveraged long ETFs, such as the Financial Select Sector SPDRS (NYSEArca: XLF - News), Technology Select Sector SPDRs (NYSEArca: XLK - News), Ultra S&P ProShares (NYSEArca: SSO - News), Ultra Financial ProShares (NYSEArca: UYG - News) and many others. Are forward looking indicators now in line with NBER?

THE BAD NEWS

What does the NBER base its decisions on? To make its determination, the NBER looks at figures that make up the nation's gross domestic product, incomes, employment, and industrial activity.

GROSS DOMESTIC PRODUCT

Obviously, recent downward revisions to the GDP did not prevent NBER from its assessment that the recession had ended. The chart below shows recent revisions to GDP. (chart)

Telling the 15 million unemployed Americans that the recession has ended is like telling a homeless person that real estate prices (NYSEArca: IYR - News) are about to pick up. It's ironic at best and cruel at worst.

UNEMPLOYMENT

The chart below shows the real percentage of unemployed Americans expressed by the U-6 unemployment data, published by the Bureau of Labor Statistics. With unemployment near an all-time high, can the recession really be over? (chart)

CONSUMER SENTIMENT

It is said that consumer spending makes up about two thirds to three quarters of the economy. What causes consumer spending? Money flow and confidence in future growth are often the catalysts. Judging by the unemployment numbers, money flow is limited. This no doubt has had an effect on consumer confidence. The chart below shows the Consumer Confidence Index. If the recession is over, why is confidence near an all-time low? (chart)

Friday's release of the University of Michigan's Confidence Index was another blow against the economy. Based on this report, Americans planning to buy a home have fallen to a five-month low. Also, Americans planning to buy a car have dropped to the lowest level since December 2008, and 20% of Americans incomes are at risk of deflating. Not only is the lack of spending power a practical threat to any economy, it is also a statistical threat to future GDP numbers. A piece of statistical news that fits into the picture of falling consumer confidence is that the nation's poverty rate jumped to 14.3% (datasource: U.S. Census Bureau). Poverty in the U.S. is defined by a family of four living on less than $21,954 a year. Currently, 43.6 million Americans fall into this category. But perhaps this doesn't make a difference, as the government is counting on the faithful flock of economists that don't see their own demise and the few thousand Wall Streeters' that cashed in on multi-billion dollar bonuses to lift the economy.

THE SILVER LINING

Even though the NBER declared this recession over, it doesn't preclude the occurrence of another recession. According to NBER, if the economy starts shrinking again, it could mark the onset of a much feared but unexpected double-dip recession. As the first chart shows, this happened in the early 1980s.

NO DOUBLE DIP

To Wall Street's cheerleaders, the worst-case scenario is that the economy is stuck between a rock and a hard place as illustrated by this Bloomberg headline: 'Escaping double dip still means no relief for jobless.' As for investors, they seem not to care much. Monday saw U.S. stocks (NYSEArca: VTI - News) rally by 1.5%. International stocks (NYSEArca: EFA - News) and emerging markets (NYSEArca: EEM - News) were up 1.5 -1.7%. Even European stocks (NYSEArca: FEZ - News) were up, although the European Central Bank had to intervene to stabilize the Irish bond markets on Friday. In other words, the ECB had to prevent another Greece-style default. In fact, does not the emergence of yet another European country defaulting, remind us of the February - April 2010 rally. This rally occurred on ultra-low volume and against a backdrop of bad news. It then stopped all of a sudden for seemingly no specific reason. On April 16, the ETF Profit Strategy Newsletter warned: 'the pieces are in place for a major decline. We are simply waiting for the proverbial domino to fall over and set off a chain reaction.' The situation is similar right now. Even though stocks have broken out of the 1,040 - 1,130 trading range, they have done so on low volume and increased investor optimism. Within the past three weeks, the percentage of bullish investors tracked by AAII has soared by 30.15%, to the highest level in over a year. This doesn't mean that stocks can't inch up a bit further, just as they did earlier in April, but a look at all pieces of the puzzle doesn't paint the picture of a new bull market. The October issue of the ETF Profit Strategy Newsletter evaluates the bullish and bearish potential of the market with a unique approach, along with corresponding target levels and profit strategies.

Bulls Go to Extremes: Don't Buy the "Breakout", Sell It, Prechter Says Stocks jumped Monday with the Dow rising 1.4% to 10,753 and the S&P gaining 1.5% to 1143, its highest close in four months. The S&P eclipsing 1130 for the first time since late June would seem to confirm the long-awaited technical breakout for the index, and could pull many reluctant investors off the sidelines. "Many automatic buy and sell orders are set around market milestones such as these, and investors watch those levels closely for clues about which way the market may go next," the AP reports. But the wise move now is to sell this recent rally, says Robert Prechter, president of Elliott Wave International. "I think we're getting ready for another leg on the downside," Prechter says, citing evidence of what he says are extreme levels of optimism, including:

-- The most-recent AAII poll shows bearish sentiment at 24%, less than at the Dow's peak in October 2007.

Mutual fund cash positions being at record lows, which Prechter says should be taken at "face value" rather than the result of massive redemptions from equity mutual funds.

The TRIN Index (a breadth indicator) at one of its lowest levels in recent years, indicating extreme buying pressure of stocks at 52-week highs, i.e. investors chasing momentum/performance.

In addition, Prechter notes volume has been punk during the rally in recent weeks a sign, to him, that buyers lack conviction. The veteran market-watcher says the current environment is similar to the 1930-31 period. "The market can make its high while optimism makes a peak despite the fact you're going stair-step lower," he says. "What we had in May with the ‘flash crash' was the first wave down." Prechter predicts these periods of downturns sandwiched around 4-5 months of recovery "where people think we've hit the bottom" is likely to "go one for quite a long time" until a true bottom is reached well below the March 2009 lows, much less today's levels.

Macro Insights From Seth Klarman Seth Klarman, the legendary hedge fund manager at Baupost is increasingly concerned about the macro investing environment. With the retirements of several prominent hedge fund managers in recent months he’s clearly not alone in his thinking. In a recent interview (see here for the entire interview) Klarman provides some excellent macro insights and explains why he is more worried about the world than he has been in his entire career. Klarman echoes comments I have often made here. In effect, the recovery has been almost entirely artificial and will result in unquantifiable future threats. Klarman calls the current market a “Hostess Twinkie”:

A Hostess Twinkie is a confection that has made many childhoods slightly happier, but it is composed of totally artificial ingredients. My context, of about 6–12 months ago, was that virtually everything was being manipulated by the government. Nothing was natural in the markets. Interest rates were held at zero, the government was buying all kinds of securities—notably, mortgage securities—and who knows what else has ended up on the Fed’s balance sheet.

We have had lending programs—Troubled Asset Relief Program (TARP), Cash for Clunkers, and even Cash for Caulkers. We just don’t know the full extent to which investors have been manipulated. But certainly, the government wants people to buy equities, to invest so that the market will move higher, creating a wealth effect or at least eliminating the negative wealth effect in order to make people feel better about their situation, to restore a degree of optimism so that the economy might recover.

I am worried to this day about what would happen to the markets, to the economy if, in the midst of all these manipulations, we realized that they are, in fact, a Twinkie. I think the answer is that no one knows, including those in Washington. Will the economy continue to recover and grow at a healthy rate or will we sink into a double-dip recession? As we can all see, the high degree of government involvement continues.

Of course, the USA isn’t the only country kicking the can. Klarman cites the European bailout as another game of government kick the can:

The European bailout is gargantuan. I doubt it will work because it kicks the can further down the road and is yet one more manipulation that encourages people to own securities. It is almost as if our government is in the business of giving people bad advice: “We are going to hold rates at zero. Please buy stocks or junk bonds that will yield [an inadequate] 5 or 6 percent.” In effect, it forces unsophisticated investors to speculate wildly on securities that are too overvalued.

All of this has Klarman more concerned than he has ever been. That’s a mouthful from a legend like Klarman who has seen more than his fair share of cycles:

I am more worried about the world, more broadly, than I have ever been in my career.

Like myself, Klarman believes there are unquantifiable repercussions from the bailouts:

I am also troubled that we didn’t get the value out of this crisis that we should have. The Great Depression led us to a generation—or even two generations—of changed behavior. I grew up hearing about how our grandparents had a “depression mentality.” It’s awful to have a depression, but it’s a great thing to have a depression mentality because it means that we are not speculating, we are not living beyond our means, we don’t quit our job to take a big risk because we know we might not get another job. There is something stable about a country, a society built on those values.

In some sense, from the recent crisis we have developed a “really bad couple of weeks” mentality, and that’s not enough to tide us through, teach us to avoid future bubbles, and ensure a strong recovery.

Klarman isn’t a macro expert (he’s a bottom up investor), but something just doesn’t pass the sniff test with all these bailouts. How can the global economy continually bailout the losers without ever allowing these excesses to truly pass from the system? Klarman says we will eventually reach a tipping point:

A tipping point is invisible, as we just saw in Greece. In most situations, everything appears fine until it’s not fine, until, for example, no one shows up at a Treasury auction. In the meantime, we can be lulled into thinking all is well, that the United States will always be rated triple-A. Treasury Secretary Timothy Geithner speaks as if—at least in his public statements—he has been lulled into thinking that the United States will always be triple-A. That kind of thinking guarantees that someday the United States will no longer be triple-A. A sovereign deserves to be rated triple-A only if it has valuable assets, a good education system, a great infrastructure, and the rule of law, all of which are called into question by an eroding infrastructure, a government that changes the law or violates it whenever there is a crisis, and a legislature that shows no fiscal responsibility. There is an old saying, “How did you go bankrupt?” And the answer is, “Gradually, and then suddenly.” The impending fiscal crisis in the United States will make its appearance in the same way.

Klarman finds the current environment particularly difficult because many of the hedges that have been working are more speculative in nature. He finds little value in most commodities (with the exception of land) because commodities offer no real cash flow and instead rely almost entirely on some future “greater fool” buying the asset from you. Klarman makes an exception with gold, however:

Gold is unique because it has the age-old aspect of being viewed as a store of value. Nevertheless, it’s still a commodity and has no tangible value, and so I would say that gold is a speculation. But because of my fear about the potential debasing of paper money and about paper money not being a store of value, I want some exposure to gold.

Klarman sees all of this government intervention resulting in higher rates of inflation:

I think the odds are low that such high inflation will happen in the near future, but looking ahead five years, it becomes more likely, although certainly not a 50/50 chance. With a very limited initial outlay, I think a hedge like ours is a reasonable protection.

Ultimately, the downside of the current bailout fever comes in the form of an intangible risk. Capitalism without losers is like Catholocism without hell. Klarman sees no way of avoiding future collapses given that we’ve never actually been forced to learn from our past collapses:

Essentially, the problem is that government intervention interfered with the lessons investors needed to learn. Those who stared into the metaphorical abyss are right back at it, with the possible exception of college endowments, for whom the pain has been long lasting because of their spend rate. Almost everybody else is drinking the Kool Aid again, and it is very troubling. We could have another serious collapse, and people would again not be prepared for it.

Secular Bear Market Myths, Part 2   Claassen In yesterday's Secular Bear Market Myths Part 1 we debunked the myth that a secular bear market requires poor earnings growth. In part two, we illustrate the typical price pattern of a thirteen to sixteen year secular bear market and use that pattern to provide a near term and long term Market Outlook. The market may be nearing a critical juncture. If you want to know what to expect, read on ….

A Secular Pattern

Inflation Adjusted (Real) S&P 500 Index 1953-1991 (chart)

After adjusting for inflation, both the high inflation driven secular bear markets and the deflation driven secular bear markets take on a more similar form. This is especially true when a secular bear market is defined as the period between the peak and trough of the average P/E ratio. Using the numbers on the above chart we see that from the 1966 peak in the P/E ratio [1] (see chart of Shiller’s CAPE in first report) to the 1982 low [4] was sixteen years. Both the nominal and real price peak was in late 1968, thirteen years from the 1982 low. This is indicative of the typical secular bear market; a period of sixteen to thirteen years.

There are seven years between the two peaks [1] and [2] along with two major declines [3]. After the second major decline, there is a relief rally [R], then a multi-month trading range as a period of distribution, followed by a multi-year decline to complete the bear market [4].
S&P Composite 1917-1951 with Present S&P 500 (chart)

We can see a similar pattern of behavior in the deflationary bear market of the 1930’s. Yes, the market overlay in orange is our present S&P 500. We will get to that next.

Like the inflation adjusted 1970’s (and 1900-1921) the major highs and lows follow a pattern. The entire period from 1929 to 1942 encompasses thirteen years. The two major tops [1] and [2] are seven years apart. There are two major declines [3], a relief rally [R] followed by a prolonged sideways period, and finally a decline to complete the bear market [4].

The 2000 - 2016? Bear Market

Overlaid in orange on the above chart is the current S&P 500 with the P/E ratio peak in 2000 lined up with the P/E ratio peak in 1929. Not surprisingly, the peak [2] and troughs [3] all line up within a couple of months of their 1930’s counterparts. It appears the rally from the March ’09 low was the relief rally [R]. If our current S&P 500 follows the same path as these previous bear markets, we should expect a prolonged sideways period and decline to final low of the bear market sometime in-between 2013 and 2016. As illustrated in the historical chart of the S&P Composite, when this secular bear market is complete the trailing Shiller CAPE ratios should be under ten. The higher the earnings from now until that time, the less the market will need to decline to complete this period and move into the next secular bull market. Conversely, the lower the earnings, the more the market averages would need to decline to meet their sub 10 trough in the index P/E ratio.
Inflation Adjusted (Real) S&P 500 1959-1983 with Current Inflation Adjusted S&P 500 (chart)

As nicely as the current bear market has fit within the profile of the past, the chart above and the chart below should serve as signs of caution not to expect too tight a correlation between past markets and the present. The patterns of past market behavior are a good guide; they help us understand the environment we are in and keep our expectations in check. But the turning points that look so perfect on the monthly charts have still been accurate only within a +/- of several months. In hind sight that does not seem like much, in real time two or three months can feel like an eternity.

Also, each secular period is unique, and the market will respond to that uniqueness in a manner different than what our past market roadmaps might lead us to expect. For example, when we line up the current market with the 1966 P/E ratio peak (above), although the major turning points line up, there is a unique rally peak in 1968 (see above chart). That difference can be explained by the difference between inflation and deflation based bear markets. But, for now, the current environment is not completely identical to either the pure inflation or deflation periods.

Obviously, current inflation is not the least bit similar to the 1970’s and despite deflationary pressures; this is not the Great Depression. We do believe that this cycle will have more in common with deflationary cycles than inflation. If we look back again at the P/E chart on (reposted below) we can see that secular bear markets have cycled between a falling interest rate and falling P/E environment, and a rising interest rate falling P/E environment. The current economic background is more similar to the deflationary period. In previous Market Updates we have illustrated how, since 1998, the intermarket correlations have been indicative of a market that fears deflation more than inflation, which fits very well with this cycle.
P/E Ratio (CAPE) for US Equities and Long Term Interest Rates: source RJ Shiller (chart)

NASDAQ Composite Aligned with Nikkei 225 1984-2010 (chart)

Japan is another example of a deflationary bear market. We have shown the above chart before, with the overlay of the NASDAQ Composite matching the year 2000 peak of the NASDAQ and the 1990 (December 1989) peak of the Nikkei 225. The major turning points fit very well with the pattern, but the volatility between the turning points is very different. For example, where our S&P Composite model suggest a modest decline followed by a sideways period (after [R]), the Nikkei 225 collapsed without pause. It is very unlikely that the NASDAQ Composite will decline at same rate with which the Nikkei 225 declined at this stage of their bear market. It is more likely that the sharpness of the Nikkei’s decline from 2000 [R] to 2003 [4] will be a feature unique to their bear market. We should also note that it is apparent from our model that Japan’s bear market should have been complete in 2003 [4]. The Nikkei’s rally from the 2003 low to 2007 high was an astounding 140%! But, the decline that followed, and the current persistent deflation shows they have not yet pulled themselves out of their economic bear market. Is this because of incorrect monetary or fiscal policy decisions? Have we made similar policy mistakes? We don’t know and won’t know until after the fact.

Thus, while we have a good road map to follow, we must still diligently monitor our indicators and market conditions. It is more important to follow what the market is doing, than what it should do relative to any predictive model.

Short Term Outlook

The above pages were originally written in June, 2010. The addendum below is a short term outlook as of September 19, 2010. (chart)
Current Dow Jones Industrial Average Daily with NASDAQ 100 Year 2000 Overlay

…’

Homebuilder Confidence Remains in the Dump

U.S. household net worth drops Reuters | U.S. household wealth fell by $1.5 trillion in the second quarter.

For the Unemployed Over 50, Fears of Never Working Again New York Times | A growing number of people in their 50s and 60s are starting to worry that they may be discarded from the work force — forever.

Gold Hits Another Record as Dollar Tumbles On Fed Announcement Kurt Nimmo | Another example of the indispensability of gold as a hedge against the bankster engineered economic implosion.

Fed Responds To Allegations Of POMO-based Stock Market Manipulation It is no secret that the Federal Reserve, and its now semi-daily interventions in market liquidity via ever increasing Permanent Open Market Operations (aka POMOs, next on deck – Wednesday and Friday for a total of about $7-8 billion), is rather hell bent on creating the impression that the economy is alive and well.

For Sale: Welcome to United States of Tent Cities As the mortgage crisis cuts deep, real estate firms say over a million Americans may lose their homes to foreclosure this year.

Gold Is Not Going Up: The Dollar Is Collapsing Jim Rickards on CNBC talks about gold, the dollar and their relationship.

America Is Today In Worse Shape Than Japan During Its Lost Decade? BIS – the central banks’ central bank – agrees that Americans are in worse shape than the Japanese.

National / World

Biocratic Solution to Poverty and Disease? Eradicate the Human Jurriaan Maessen | This is the religion of the scientific dictatorship in a nutshell.

Second Amendment Group Made Terror Threat List in Pennsylvania Kurt Nimmo | Israeli company said violent militias would be at peaceful event held at the Pennsylvania capitol.

Global Tax Scam Shifts From Climate Change To Poverty Paul Joseph Watson | The elite are determined to rob the American people blind while creating a slush fund for world government by any means possible.

Latest Vaccine Propaganda: It Prevents Heart Attacks Kurt Nimmo | Government and Big Pharma are desperate to convince you to take their toxic vaccines.

American People To Congress: Shut Up And Get The Hell Out Of Office Americans are sending a pretty clear message to Congress members who have continually pushed hugely unpopular legislation this election year – shut up and get the hell out of office.

Israeli Company Listed Second Amendment Group As Terror Threat Last week it was reported that Tea Party activists had made the Pennsylvania terror threat list generated by an Israeli company. Now we learn that Second Amendment as well as anti-tax activists were also snooped by the state with the assistance of he Institute of Terrorism Research and Response.

Discover Your Humanity And Live Forever In a deeply considered and impassioned call for the re-energisation of humanity, Alex describes how our species is still only in a pre-embryonic stage, and that our intellect is being shaped and limited by force fed distractions.

Average American Works 231 Days To Support Government With Taxes “The average American worked 231 days just to support government, which consumes 63.41 percent of national income.” Yow! The government consumes two-thirds of income! We’re freaking doomed!

Jimmy Carter Says US More Polarized Than During Civil War “This country has become so polarized that its almost astonishing…. Not only with the red and blue states… President Obama suffers from the most polarized situation in Washington that we have ever seen – even maybe than the time of Abraham Lincoln and the initiation of the war between the states.”

Global Tax Scam Shifts From Climate Change To Poverty As the science behind global warming becomes increasingly discredited and its proponents are exposed as eugenics-obsessed control freaks who care only about destroying freedom, the effort to make Americans pay a global tax has shifted from the justification of climate change to that of poverty.

President Ahmedinejad Threatens U.S. With War ‘Without Boundaries’ Iranian President Mahmoud Ahmedinejad warned the Obama administration today that if Iran’s nuclear facilities are attacked, the U.S. will face a war that “would know no boundaries.”

China tells U.S. to keep out of South China Sea dispute China told the United States not to interfere in a regional dispute over claims to the South China Sea, saying it would only complicate the matter. China has been increasingly strident in asserting its territorial claims, especially maritime ones.

Gulf States Order $123 Billion of U.S. Weaponry to Counter Iran, FT Says [ See, say the neocons / military industrial complex, who says that war, rumors of war, and threats of war don’t pay dividends they say … riiiiight! The guns v. butter argument. Sounds like a plan … for continued national bankruptcy and conflagration. Bad economics. ] Arab states around the Persian Gulf have ordered U.S. weapons systems worth a total of $123 billion “to counter Iran’s military power,” the Financial Times reported.

Riot Police On Standby, As Greek Truckers Form Massive Protest Blockade The news out of Greece continues to suggest that every attempt to reform the economy and liberalize key sectors is being met with serious resistance.

Nato helicopter crash kills nine in Afghanistan’s bloodiest year Telegraph | The crash early on Tuesday in Zabul province brought this year’s death toll to at least 529.

`Drudgereport: Professorial president assigned 'homework' to advisers... Critical players in national security team 'doubt strategy in Afghanistan will succeed'... Axelrod 'complete spin doctor'... President of Afghanistan suffers from 'manic-depression' … [Wow! No wonder he’s aligned with the u.s. … fits right in, one nutcase to another ] ... Rahm cheers drone attacks: 'Who did we get today?'...WOODWARD DOES OBAMA: KISS OR DISS? [ What strategy … toward what end … why, other than the newly cultivated heroin trade, which of course is great for cash money sub-rosa, which is great for the few, and of course, the war’s great for the military complex but bad for the u.s. economy generally (resources literally blown up). Win what? You see; for the defacto bankrupt american nation, this is one of those lose, lose scenarios regardless of so-called outcome. ]`WASHINGTON — Some of the critical players in President Obama’s national security team doubt his strategy in Afghanistan will succeed and have spent much of the last 20 months quarreling with one another over policy, personalities and turf, according to a new book. The book, “Obama’s Wars,” by the journalist Bob Woodward, depicts an administration deeply torn over the war in Afghanistan even as the president agreed to triple troop levels there amid suspicion that he was being boxed in by the military. Mr. Obama’s top White House adviser on Afghanistan and his special envoy for the region are described as believing the strategy will not work …’
`Mob’s man cuomo undecided on debating … how embarrassing for new york … and their cuomo coma … ask cuomo how many mob prosecutions he’s brought ... POLL: USA Loses No. 1 to Brazil-China-India Market...`
`HOUSEHOLD NET WORTH DROPS...`

Sen. DeMint champions 'tea party' candidates (Washington Post)      Bill Maher digs up O'Donnell 'witchcraft' clip (AP)   [ She’s done! There’s no excuse for that! None! ] ‘… "I dabbled into witchcraft. I never joined a coven," she said. " ... I hung around people who were doing these things. I'm not making this stuff up. I know what they told me they do," she said. "... One of my first dates with a witch was on a satanic altar, and I didn't know it. I mean, there's little blood there and stuff like that," she said. "We went to a movie and then had a little midnight picnic on a satanic altar." …’     Occult Obsessed Elite Claim Christine O’Donnell is a Witch Kurt Nimmo | The corporate media, the propaganda organ of the global elite, sets its sites on Delaware’s Christine O’Donnell. … Sorry kurt … there’s no excuse for that … she’s done!    An O'Donnell repeat is unlikely (Washington Post) There are at least three reasons to be skeptical of Del. Senate candidate's ability to win. OPINION: O'Donnell's forgivable sin? | Politerati    Rough Sketch: 10 reasons O'Donnell may be a witch

Justice: FBI improperly opened probes   (Washington Post) [ Well, I just hope they’re as zealous (in probing readily discernible crime) with regard to my RICO matters and the corruption in the (judicial / legal) process since, in the final analysis, it will have been the corruption within that will have brought the nation down irrevocably and totally ] .

                                                                                                                                    September 13, 2010

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

Dear Sir:

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include a copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf   ].

The correspondence I received from Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm    .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT   (see infra). Such includes and as set forth in the case, inter alia,

A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..

Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.

The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [ Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]

Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     crossexamofcoanbypeia.pdf ]

Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.

Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3^rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

Sincerely,

Albert L. Peia

611 E. 5^th Street, #404

Los Angeles, CA 90013

(213) ****** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).

The ritual of sound-bite economics (Washington Post)    Samuelson | Opinion ‘The right's sweeping indictment of Obama for the sluggish recovery is wildly exaggerated. It is not, however, entirely misplaced … Rhetorical claims grow more partisan and self-serving. We are now deep in this process. President Obama's policies either averted another Great Depression -- or have crippled the recovery.’ [ How ‘bout neither is correct: We’re still in what some have even referred to as ‘hyperinflationary (to come from over-printing of currency) depression; and, incurring insurmountable debt / debt service to give a better feel pre-elections, is a far cry from economic recovery, particularly owing to the irrevocable structural shift that has occurred. ]

That nest egg is feeling fragile (Washington Post) [ Fragile indeed! And, much more fragile than most realize owing to obfuscation, manipulation, and outright fraud in the this continuing year of desperation; politically, economically, financially, and legally. YAHOO [BRIEFING.COM]: ‘The S&P 500 pushed through technical resistance to set a fresh four-month high on Monday. There were no catalysts or headlines to account for the climb. Only a bullish bias among market participants underpinned the move. Stocks made only modest gains in the early going. Most traders took their cues from Europe, where the major bourses staged strong gains as concerns about sovereign debt subsided. Early action was generally consistent with the relatively cautious trade that typically precedes an FOMC announcement, the latest of which will be released tomorrow afternoon. Though no rate actions are expected tomorrow, many will look for changes in the verbiage of the actual the FOMC statement to give clues about where policy might be headed …’ Riiiiight … changes in VERBIAGE … in other words, b* s* alone … Come on! … you just can’t make this stuff up … again! (the no-recession fed, then nation-bankrupting spending, then just before election ‘recession over’ … the recession that’s a depression that never ended and there’s desperation in the air … and the the frauds on wall street are taking advantage of the pre-election b* s) … the new ‘churn and earn fraud they’ll get their commissions again on the way down’ … THIS IS A GREAT OPPORTUNITY TO SELL / TAKE PROFITS SINCE THERE’S MUCH, MUCH WORSE TO COME! ]Discouraging returns over the past decade and a sputtering economy that shows few signs of reviving soon are leaving many families confused and frustrated over how to secure their financial future.

Recession ends, anxiety lingers (Washington Post) Come on! This is typical, pre-election, fraudulent wall street, full moon b s*** ; you know, like the no recession … just more defacto bankruptcy of the nation to tide / smooth things over!      Obama confronts deepening angst from Americans who have little faith that the recovery is for real.

I finally saw ‘Avatar (2009)’ and felt compelled to put this on the ‘record of posts’. A previous post (infra) referenced that well proportioned, comely, oscar-winning giant of a woman, Kathryn Bigelow, who did the timely oscar-winning piece, ‘Hurt Locker’, which from my longstanding opposition to the Iraq, now Afghanistan, etc., illegal debacles further bankrupting this already defacto bankrupt nation, was laudable from my perspective if only to point out and emphasize the insanity of same (much like ie., the masterful works ‘Apocalypse Now’ and ‘Platoon’ vis-à-vis Vietnam, albeit after the fact). I was disappointed to hear James Cameron talk up NASA as if it wasn’t the antithesis of his theme as written in ‘Avatar’ inasmuch as NASA is but a CIA / Military / Industrial complex boondoggle, fraud, and ultimately that militarization of space vehicle/thing for the lunatics at ie., the CIA, NSA, Pentagon, some halls of congress, etc. [http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv           http://www.albertpeia.com/moonfraud.htm ] . I know he’s intelligent, so one may infer he’s one of those ‘do as I say but not as I do’ types in reverse; or, a hypocrite. I’ve seen so many films that I comfortably say without boast or exaggeration that I’ve probably seen all the films in the history (excepting a very few foreign language films) of film worth seeing and then some, and including those by the greatest directors. I previously wrote on my site, ‘I happen to like and respect film as a rich medium which presents large amounts of audio, visual, and thematic information which can be processed in relatively small amounts of time, etc..’ My hat’s off to Kathryn Bigelow; but that said, I must ask what the ‘Academy’ was thinking, or smoking, in overlooking what I believe to be the greatest film ever made thus far in the history of film. Imaginative like no other before it, visually, audibly, and uniquely spectacular while profound in thematic message, and superbly directed, it is disheartening that one might only explain this misstep by the ‘Academy’ which belittles and questions the Academy’s credibility, very existence and prestige as a reluctance to grant Mr. Cameron a second great cinematic achievement of epic proportion (which of course, in reality, they cannot do).   Gasoline prices hit 8-month low (Washington Post) [ Strange days indeed. There was a time not long ago that the same news would engender a ‘glass-half-full’ spin for a fraudulent wall street rallying point. At the same time, higher oil prices one of those reasons for selling into the bubble. Today, higher oil prices day to day provide a ‘glass-half-full’ spin for a fraudulent wall street rallying point that drives the oils (stocks) higher. Yes, that’s how bad the economy really is. (Not a reference to ‘Strange Days’ the interesting film from that impressive oscar-winning giant (amazon) of a woman, Kathryn Bigelow, which sported a cast that included Tom Sizemore which of itself meant strange indeed.) ].

Yes! It is a full moon with predictable lunacy from the lunatic frauds on wall street!

YAHOO [BRIEFING.COM]: ‘The S&P 500 pushed through technical resistance to set a fresh four-month high on Monday. There were no catalysts or headlines to account for the climb. Only a bullish bias among market participants underpinned the move. Stocks made only modest gains in the early going. Most traders took their cues from Europe, where the major bourses staged strong gains as concerns about sovereign debt subsided. Early action was generally consistent with the relatively cautious trade that typically precedes an FOMC announcement, the latest of which will be released tomorrow afternoon. Though no rate actions are expected tomorrow, many will look for changes in the verbiage of the actual the FOMC statement to give clues about where policy might be headed …’ Riiiiight … changes in VERBIAGE … in other words, b* s* alone … Come on! … you just can’t make this stuff up … again! (the no-recession fed, then nation-bankrupting spending, then just before election ‘recession over’ … the recession that’s a depression that never ended and there’s desperation in the air … and the the frauds on wall street are taking advantage of the pre-election b* s) … the new ‘churn and earn fraud they’ll get their commissions again on the way down’ … THIS IS A GREAT OPPORTUNITY TO SELL / TAKE PROFITS SINCE THERE’S MUCH, MUCH WORSE TO COME!

Gerald Celente: US Economy = Depression Famous investor and billionaire George Soros referred to the US economy as “blah,” saying he expects a further slowdown. US President Barack Obama has insisted however that the US economy is heading in the right direction. Gerald Celente, the director of the Trends Research Institute said the economy is not just blah, it’s in a depression. It’s the summer of the greatest recession,” he said.

Too Much Liquidity Creating New Investment Bubbles … Again?

20 Signs That The Economic Collapse Has Already Begun For One Out Of Every Seven Americans The Economic Collapse | This year, millions more Americans will discover that the music has stopped playing and they are left without a seat at the table. ‘ … The following are 20 signs that the economic collapse has already begun for one out of every seven Americans…..

#1 The Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in 51 years of record-keeping.

#2 In the year 2000, 11.3 percent of Americans were living in poverty. In 2008, 13.2 percent of Americans were living in poverty. In 2009, 14.3 percent of Americans were living in poverty. Needless to say the trend is moving in the wrong direction.

#3 In 2009 alone, approximately 4 million more Americans joined the ranks of the poor.

#4 According to the Associated Press, experts believe that 2009 saw the largest single year increase in the U.S. poverty rate since the U.S. government began calculating poverty figures back in 1959.

#5 The U.S. poverty rate is now the third worst among the developed nations tracked by the Organization for Economic Cooperation and Development.

#6 Today the United States has approximately 4 million fewer wage earners than it did in 2007.

#7 Nearly 10 million Americans now receive unemployment insurance, which is almost four times as many as were receiving it in 2007.

#8 U.S. banks repossessed 25 percent more homes in August 2010 than they did in August 2009.

#9 One out of every seven mortgages in the United States was either delinquent or in foreclosure during the first quarter of 2010.

#10 There are now 50.7 million Americans who do not have health insurance. One trip to the emergency room would be all it would take to bankrupt a significant percentage of them.

#11 More than 50 million Americans are now on Medicaid, the U.S. government health care program designed principally to help the poor.

#12 There are now over 41 million Americans on food stamps.

#13 The number of Americans enrolled in the food stamp program increased a whopping 55 percent from December 2007 to June 2010.

#14 One out of every six Americans is now being served by at least one government anti-poverty program.

#15 California’s poverty rate soared to 15.3 percent in 2009, which was the highest in 11 years.

#16 According to an analysis by Isabel Sawhill and Emily Monea of the Brookings Institution, 10 million more Americans (including 6 million more children) will slip into poverty over the next decade.

#17 According to a recently released Federal Reserve report, Americans experienced a $1.5 trillion loss in combined household net worth in the second quarter of 2010.

#18 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.

#19 Median U.S. household income is down 5 percent from its peak of more than $52,000 in 1999.

#20 A study recently released by the Center for Retirement Research at Boston College University found that Americans are $6.6 trillion short of what they need for retirement … ‘

Black September Postponed, New Month Yet To Be Determined Shell ‘… US markets have to assimilate notes from the FOMC meeting and various housing reports this week. Today, the National Association of Home Builders Index came in at 13, unchanged from the previous month. With 50 a neutral number, there was no optimism here. Tomorrow US building permits and housing starts will be announced. With US home seizures and bank foreclosures rising to records, and banks offering these home in competition with new homes, new home builders may be relying upon divine intervention to assist with their sales…’

Major Indices Up Against the Wall ‘ … Bad News:

Oil dropped to a two week low on concerns for global growth.

Ireland and Portugal were back in the news with the Irish/German Bund spread reaching record highs along with the cost of insurance on their debt; the story was the same in Portugal and these developments helped to drive the Euro down against the dollar.

Barclays Bank (BCS) issued a memo saying that Ireland may need IMF help, a view that was promptly and vigorously denied by the Irish government, but the markets seemed to rebuff those denials as gold reached a new record high.

On the home front, Fed Ex (FDX) reported seeing slower growth ahead and on Friday we saw our 125th bank failure for the year.

The New York Empire Manufacturing Index posted a huge miss for September, coming in at 4.1, down from a previous 7.1 and consensus estimate of 6.4

Industrial production declined in August to +0.2% from +0.6%.

On Friday, an unexpected drop in the University of Michigan Consumer Sentiment index to 66.6 for September took that index to its lowest level in more than a year.

Unemployment remains at a quarter century high while in 2009, the U.S. poverty rate was the highest since 1994, with 14% of Americans living below the poverty line.

In the all important real estate market, Realty Trac reported that bank repossessions hit a record high in August and now one out of every 380 homes in America are in some phase of the foreclosure process. There is now a three year supply of distressed homes on the market and this comes against the backdrop of household wealth declining 2.8% in the second quarter and the lowest median household income since 1997.

The lumber industry is an important facet of the U.S. economy and is reflective of the state of the housing industry. This week the Western Wood Products Association reports that 2009 was its worst year on record and that 2010 timber sales and production could be even worse. In 2005, the U.S. had a record 2.1 million housing starts that dropped to 555,000 in 2009, the lowest number of starts since World War II.

All of this would lead to the obvious conclusion that we could expect still lower home prices ahead.

What It All Means

From a technical standpoint, the markets are poised for a significant decline and from a macro standpoint; significant risks are inherent in the slowing economy and problems in Europe heating up yet again. Seasonality also points to increasing danger as September and October tend to be treacherous months for market declines.

Furthermore, mutual fund cash levels are at record lows and this phenomenon was also in play before both the 2000 and 2008 market meltdowns. With not much gas left in the tank and an ominous macro environment, it’s hard to make a bullish case in the weeks ahead.

However there’s always the possibility for upside surprises from resilient earnings reports and ever present, not so invisible hand of government intervention here and abroad.

A sustained breakout higher will likely lead to a significant rally while failure here will likely lead to a significant correction to test recent lows.

The most likely probability is for a move lower and Wall Street Sector Selector remains in the “Red Flag” mode, expecting lower prices ahead.’

How Wall Street Manipulates the News...And Investors Shaefer Wall Street’s business model depends upon two factors:

(1) Keeping you interested enough in the markets to leave your cash with them so they can float it, make a return on it higher than the one they pay you, and use your cash to convince the regulators that they have enough in “assets” to borrow money to expand their own proprietary trading, and...

(2) Keeping you trading. The easiest way for them to do this is to slant the news favorably for a few weeks to a few months, then slant the same or similar news unfavorably for a few weeks to a few months. This way, they get you to buy on their alleged good news, then sell when the news “turns bad” and hopes are dashed. That gives them two commissions instead of one. Done over the course of a year, it gives them dozens rather than one or two.

A recent case in point is the current rally based upon the fact that the ISM Manufacturing index rose from 55.5 to 56.3, an inconsequential amount not much bigger than a rounding error, from July to August of 2010, an inconsequential time frame too short to measure anything meaningful. The following week, the ISM Non-Manufacturing Index (“services” rather than manufacturing) fell a rather more consequential 54.3 to 51.5, its lowest reading since January, a rather more consequential time frame. Since Services comprise three-quarters of US economic activity, one might think this would have been cause for concern. But the news was buried on page 16 because Wall Street wants us buying now, not selling. Once they have their shorts in place (today? tomorrow?) so they can profit both from their short positions and from retail investors’ panic selling and the commissions that flow only from activity, you’ll find “the news” has magically turned bad again. Then, after they have your commission dollars and their profits from short-selling, they'll spin the news positively again. It’s a classic example of Lucy van Pelt whisking the football away from Charlie Brown every time he gets th-i-i-s close to actually kicking it through the uprights. But you don’t have to play along! Stand back from the daily barrage of data and “commentary” on the data and you’ll see the entire process more clearly. And if you agree, you might take a look at selling into euphoria and buying into despair, as we try to do. The current outlook is supposedly nothing but lollipops and rainbows, so we are now short via ProShares' inverse ETFs: S&P 500 (SH), Emerging Markets (EUM), and Russell 2000 (RWM). I expect a rally based upon real, versus manufactured, slanted and spun, news, this fall. Throwing out the current crop of ne’er-do-wells in Congress alone should be good for a few hundred points on the Dow. But, personally, I don’t see that rally mounting from 10,600. No, Wall Street needs to terrify the public one more time, so they can cover their short positions and buy cheaply as the public sells. A decline below 10,000, possibly well below 10,000, is in their interest before the next big rally. Do your own due diligence – stand aside and watch the manipulation of the silliest sorts of news like: “Only 450,000 newly-unemployed this month in America! Economists had predicted 460,000!! Buy!!! Buy!!!!” And if you agree, take a look at the above and other inverse ETFs. I imagine they’ll be very good to us over the next few weeks or couple months…

Author's Disclosure: We and those clients for whom it is appropriate own or are purchasing SH, EUM, and RWM.

The Fine Print: As Registered Investment Advisors, we see it as our responsibility to advise the following: we do not know your personal financial situation, so the information contained in this communiqué represents the opinions of the staff of Stanford Wealth Management, and should not be construed as personalized investment advice. Past performance is no guarantee of future results, rather an obvious statement but clearly too often unheeded judging by the number of investors who buy the current #1 mutual fund only to watch it plummet next month! We encourage you to do your own research on individual issues we recommend for your analysis to see if they might be of value in your own investing. We take our responsibility to proffer intelligent commentary seriously, but it should not be assumed that investing in any securities we are investing in will always be profitable. We do our best to get it right, and we “eat our own cooking,” but we could be wrong, hence our full disclosure as to whether we own or are buying the investments we write about.’

The Mega-Bear Quartet and L-Shaped 'Recoveries' Doug Short I retired this chart series in early August in deference to my preferred inflation-adjusted series that aligns the S&P 500 2000 high with the Nikkei peak in 1989. Here's an update of the retired series by special request.

This chart series overlays the current S&P 500 with the L-shaped "recoveries" after the Dow Crash of 1929, the Nikkei 225 after Japan's 1989 bubble, and the post Tech Bubble NASDAQ. Click the chart below for a larger version and use the links to see various comparisons. [chart]

I've also included an updated two-decade inflation-adjusted chart, which gives us a fascinating visualization of the impact of inflation on long-term market prices. The higher the rate of inflation during a bear market, the greater the real decline. Compare, for example, the peak of the Dow rally in year seven with the same peak in the two-decade nominal chart. The difference is the result of deflation during the Great Depression.

It's rather stunning to see the real (inflation-adjusted) decline of the Nikkei, two decades years after its crash. The recent lows rival the traumatic Dow bottom in 1932, less than 3 years after its peak.

These charts remind us that bear markets can last a long time. And it's not necessary to go back to the Great Depression for an example.

[See also my preferred version, which puts the start of the current secular bear in 2000 with the popping of the Tech Bubble. In inflation-adjusted terms, the S&P 500 reached its all-time high in March 2000. Although the nominal high in October 2007 was higher, the "real" high was not.]

Note: These charts are not intended as a forecast but rather as a way to study the today's market in relation to historic market cycles.

The Analysts Are Starting to Get Silly    Moenning In doing my weekend research, I came across a couple of items that reminded me why I am such a cynic:

First, beware of "Conventional Wisdom": I believe it is safe to say that it is widely accepted that Merger & Acquisition (M&A) activity is generally viewed as a positive. That it reflects a view that "stocks are cheap" and that the act of buying represents a source of demand. While true to some degree, I found the following points from an opposing view to be interesting:

M&A activity is not a sign that corporate managements are becoming more positive regarding the future. It is, in fact, an indication that those same managements are viewing the growth prospects of their existing markets as diminished if not minimal.

Many studies have shown that mergers, more often than not, do not work out as expected and do not achieve the results touted by the acquiring managements at the time they are concluded.

Mergers almost always result in "duplications of effort" and thus lead to layoffs of personnel. More people losing their jobs in the midst of the current recession is certainly not going to be helpful to the economy.

Here are some interesting points; I'm sure you'll agree:

Second, in this week's Barron's* I came across the following excerpt from "The Weekly Speculator" (date tagged Sept. 16) in the Market Watch Section. I use this only as an example, and not as a general criticism of this newsletter. The excerpt reads in part as follows:

...but it is our belief that recent months have seen a data cycle play out, rather than a genuine moderation of economic activity. Support for this view has certainly been delivered in recent weeks by a sudden firming of US economic data, which has consistently been above consensus since late August.

Really?

It seems to me that housing sales have collapsed since the the "Home Buyer Credit" ended. Automobile sales cratered after the "Cash for Clunkers" program finished. Inventories are building again, which may very well not be a sign of confidence, but simply overstocking. Consumer credit continues to contract. Consumer sentiment is falling. I could go on.

Certainly there have been some positive reports, mostly it seems relating to layoffs, jobless claims, etc. But in general, I read the data as bottom-bouncing at best, and a re-intensifying contraction as a fair possibility. Examine the below table of recent economic reports which I have compiled. It is by no means complete, but hopefully will give a fair representation of recent economic reports. You be the judge:

Recent Economic Data

Date

Report

Actual

Reuters
Estimate

Reuters
Actual

Evaluation

9/17

UofM Conf

66.6

70.0

68.9

Worse

9/16

Philly Fed

-0.70

3.8

-7.7

Missed

9/16

Jobless Claims

450K

455K

451K

Better

9/16

Producer Price Index

+0.4%

+0.3%

+0.2%

Worst

9/15

Industrial Production

+0.2%

+0.2%

+1.0%

Worst

9/15

Empire Manuf Survey

4.14

5.00

7.10

Weakening

9/14

Business Inventories

+1.0%

+0.6%

+0.3%

Improving

9/14

Retail Sales

+0.4%

+0.3%

+0.4%

Better?

9/10

Wholesale Inventories

+1.3%

N/A

+0.1%

Improving

9/8

Consumer Credit

-$3.6 billion

-$3.5 billion

-$1.3 billion

Weakening

9/8

Beige Book

Widespread Signs
of Deceleration

N/A

N/A

Weakening

9/3

Non-Farm Payroll

-54K

-90K

-131K

Better

9/3

Unemployment Rate

9.6%

9.6%

9.5%

Flat/Worsening

9/2

Factory Orders

+0.1%

+0.3%

-0.6%

Weak

9/1

Domestic Car Sales

8.3M

8.7M

8.9M

Weaker

8/25

New Home Sales

276K

340K

330K

Record Low

8/24

Existing Home Sales

3.83M

4.65M

5.37M

15 year low

Relating to the decline in outstanding consumer credit, I believe that this is part of the consumer getting their house in order. I feel that it will help build a solid foundation from which a secular (long-term) economic advance could begin such as the 50s and 60s and the 80s and 90s.

For the immediate future however, I am of the opinion that declining consumer credit reflects an attitude by the consumer to spend less, and this will be a damper to the economy in the short run.

Inventory build-ups are more of an iffy situation. If the reflect an unintended accumulation of unsold merchandise, then a period of inventory reduction may be forth-coming. It is this inventory reduction that concerns me and would be one more near term negative.

So, what do take away from this? Just because it's written or spoken doesn't make it true, even my statements. Take very little on faith, especially when it is regarding the markets.

"Trust no one" - Walter Donovan to Indiana Jones, Indiana Jones and the Last Crusade

Disclosure: No positions

Ron Paul “This Is Much Bigger Than The Great Depression!” Congressman Ron Paul recently appeared on Fox Business’ The Tom Sullivan Show to discuss the Tea Party, where real change comes from, how he began his study of economics, and where he sees the economy going.

Worst U.S. Recession Since 1930s Ended in June 2009, Group Says Newsmax | The worst U.S. recession since the Great Depression ended in June 2009, the National Bureau of Economic Research said.

US Government ‘hiding true amount of debt’ News.com.au | The actual figure of the US’ national debt is much higher than the official sum of $US13.4 trillion given by the Congressional Budget Office.

U.S. Debt Actually $200 Trillion? News.com.au | The actual figure of the US’ national debt is much higher than the official sum of $US13.4 trillion ($14.3 trillion) given by the Congressional Budget Office.

The Banks Still Win On Friday, Congressman Ron Paul issued the following statement about Obama’s appointment of Elizabeth Warren to head up the creation of the new Consumer Financial Protection Bureau.

UK Proposes All Paychecks Go to the State First The UK’s tax collection agency is putting forth a proposal that all employers send employee paychecks to the government, after which the government would deduct what it deems as the appropriate tax and the pay the employee’s by bank transfer.

Is China Starting To Cave? Yuan Hits New Record Against The Dollar Could China be weakening its stance, a little, regarding the yuan?

Third world America In February, the board of commissioners of Ohio’s Ashtabula County faced a scene familiar to local governments across America: a budget shortfall.

US economy fears as consumer confidence plunges American consumers do not expect to be feeling any more confident in six months’ time, a widely-watched index revealed today, underlining the hurdles facing a recovery in the world’s biggest economy.

Wall Street ‘casino’ spooks small American investors Michael McCaslin is wary of investing his retirement funds in Wall Street. Its volatility and cryptic trading techniques make him feel lost and unsafe, he says.

The Secret List Of 10 States With Soaring Poverty Rates The Government Doesn’t Want You To See This is only half of the story though. Despite all these methodological weaknesses I was curious enough to look for the list of states with the worst and best poverty rates. I skimmed through their 88 page report but I could not find a single table breaking down their flawed results by state. This must be top secret information, I said to myself.

The poor and impoverished turn to the forest RT’s Anastasia Churkina re-visits Tent City – a homeless camp tucked away in the woods of New Jersey, where over 40 people have been forced to live, with nowhere else to go.

Foreclosures and Poverty Across the Country, and DC Yawns Firedoglake | Too bad people in poverty aren’t seen as much of a political constituency.

Global climate change industry is now worth more than $528bn THE global climate change industry is now worth more than $528bn, powered by China’s rise as one of the top nations for climate revenues.

American Businesses and Consumers are NOT Deleveraging … They Are Going On One Last Binge

National / World

Globalists Plan to Dismantle Middle Class With UN Tax Paul Joseph Watson & Alex Jones | Final move for world government and destruction of middle class begins.

Fed Issues More Debt as Gold Rises Bob Chapman | What has happened to America is that the private sector only is allowed to exist to keep banking in business and to supply funds for government, bureaucrats, other criminals and the elitists who actually run your country.

Pennsylvania Homeland Security Targeted Tea Parties Kurt Nimmo | Pennsylvania’s Homeland Security said that two Tea Party rallies against illegal immigration might attract “white nationalists.”

Government Prepares To Seize Paychecks As Statist Cancer Explodes Forget big government – the same elite whose policies caused the financial collapse are now ready to launch the next phase of their fascist takeover of the economy – by forcing businesses to send employee paychecks straight to the government, who would then deduct the “appropriate tax” before the employee receives their wage, as the statist cancer of collectivism grows.

Alex Jones On What We Really Are Alex Jones explains how humanity has become completely disconnected from its primitive survival instinct because of modern consumerist culture, and how this is creating generations of nihilistic, depressed, soulless people who have a death wish and are being brainwashed to hate everything that is good and wholesome.

“Moderate” RINO Colin Powell Calls for Tidal Wave of Illegal Students Kurt Nimmo | Establishment politico admits he has illegal immigrants working on his house.

Most Influential Environmentalists Share Mass-Murder Advocating Green Nazi’s Philosophy Our detailed report today on the now openly active and growing eco-fascism movement, and in particular Finnish “philosopher” Pentti Linkola, exposes a savage and despotic side to the environmental agenda.

Global Warming Alarmist Calls For Eco-Gulags To Re-Educate Climate Deniers A Finnish environmentalist guru has gone further than any other global warming alarmist in openly calling for fascism as a necessary step to save the planet from ecological destruction, demanding that climate change deniers be “re-educated” in eco-gulags and that the vast majority of humans be killed with the rest enslaved and controlled by a green police state, with people forcibly sterilized, cars confiscated and travel restricted to members of the elite.

NY Times edits Tea Party article after White House complains The Bush administration spent years feuding with The New York Times but the Grey Lady hardly ever backed down.

Global ‘internet treaty’ proposed The proposal was presented at the Internet Governance Forum in Lithuania last week, and outlined 12 “principles of internet governance”, including a commitment from countries to sustain the technological foundations that underpin the web’s infrastructure.

British Government to Seize All Paychecks Paul Joseph Watson & Alex Jones | Fresh round of economic fascism is about forcing us to beg big government for handouts in return for our own enslavement.

Shut Up! You’re Disturbing the Elite Keith Johnson | Both the establishment left and right working are in concert to stifle the steadfast American tradition of dissent.

Global Warming Alarmist Calls For Eco-Gulags To Re-Educate Climate Deniers Paul Joseph Watson | “Any dictatorship would be better than modern democracy,” says Finnish philosopher Pentti Linkola.

Obama Administration Financially Supports China’s Population Policies Through UN Population Fund Jurriaan Maessen | Only days after his inauguration, President Barack Obama announced he would resume funding for the UNFPA and its ‘family planning’ activities in China and elsewhere around the globe.

Historian: Mao Greatest Mass Murderer in World History Independent | Mr Dikötter is the only author to have delved into the Chinese archives since they were reopened four years ago.

Globalists Push World Transaction Tax At UN Summit Globalists representing 60 nations will meet at the UN this coming week to push a tax on world financial transactions in the name of solving poverty and climate change, formally launching a massive program to bankrupt the middle class and enrich the coffers of global government.

Pennsylvania Homeland Security Targeted Tea Parties In November, Pennsylvania’s Homeland Security issued a bulletin stating that two Tea Party rallies against illegal immigration might attract “white nationalists.” The report was issued by the Institute of Terrorism Research and Response, an Israeli company.

Members of U.S. platoon in Afghanistan accused of killing civilians for sport The U.S. soldiers hatched a plan as simple as it was savage: to randomly target and kill an Afghan civilian, and to get away with it.

FDA won’t allow food to be labeled free of genetic modification: report That the Food and Drug Administration is opposed to labeling foods that are genetically modified is no surprise anymore, but a report in the Washington Post indicates the FDA won’t even allow food producers to label their foods as being free of genetic modification.

58% Of Americans Want A Third Party Americans’ desires for a third political party are as high as they have been in seven years.

Bill Maher digs up O'Donnell 'witchcraft' clip (AP)   [ She’s done! There’s no excuse for that! None! ] ‘… "I dabbled into witchcraft. I never joined a coven," she said. " ... I hung around people who were doing these things. I'm not making this stuff up. I know what they told me they do," she said. "... One of my first dates with a witch was on a satanic altar, and I didn't know it. I mean, there's little blood there and stuff like that," she said. "We went to a movie and then had a little midnight picnic on a satanic altar." …’     Occult Obsessed Elite Claim Christine O’Donnell is a Witch Kurt Nimmo | The corporate media, the propaganda organ of the global elite, sets its sites on Delaware’s Christine O’Donnell. … Sorry kurt … there’s no excuse for that … she’s done!

Poll: Vast majority opposes attack on Iran Fewer than one in five Americans would support a US military strike on Iran if the Middle Eastern country continued to pursue its nuclear program in the face of international sanctions, a new poll indicates.

Defaults - Not Frugality - Account for Debt Decline ‘If you think that American consumers have found religion when it comes to debt, you might be surprised by what really is happening. From the WSJ:

First, consider household debt. Over the two years ending June 2010, the total value of home-mortgage debt and consumer credit outstanding has fallen by about $610 billion, to $12.6 trillion, according to theFederal Reserve. That’s an annualized decline of about 2.3%, which is pretty impressive given the fact that such debts grew at an annualized rate in excess of 10% over the previous decade.

There are two ways, though, that the debts can decline: People can pay off existing loans, or they can renege on the loans, forcing the lender to charge them off. As it happens, the latter accounted for almost all the decline. Over the two years ending June 2010, banks and other lenders charged off a total of about $588 billion in mortgage and consumer loans, according to data from the Fed and the Federal Deposit Insurance Corp.

That means consumers managed to shave off only $22 billion in debt through the kind of belt-tightening we typically envision. In other words, in the absence of defaults, they would have achieved an annualized decline of only 0.08%…’

Drudgereport: `GREAT ESCAPE: HOUSE MAY ADJOURN '3 WEEKS EARLY’ [ Two views: 1) Despite the rhetoric, spin, fake data, etc., the country is defacto bankrupt and ashambles 2) At least they won’t be able to do more damage ] 'Prince Charles: 'I happily talk to plants, trees' … yeah, inbreeding eventually takes its toll ...     UK Proposes All Paychecks Go to the State First… Wow! ...`

Many businesses facing tax hike are too big to be labeled 'small' (Washington Post) [ I almost hate to have to acknowledge the following as true given the dire fiscal circumstances of this defacto bankrupt nation in light of the profligate war spending and other pork, etc., but as was once said and remains true, ‘you can please all of the people some of the time, and some of the people all of the time, but you can’t please all of the people all of the time’.]

Obama ignores critics, appoints Warren to set up agency (Washington Post) [ There are a lot of reasons to be down on wobama’s failed presidency, viz., contrary to campaign rhetoric the continued wars / war spending, no prosecutions of the the wall street frauds, etc., Warren’s appointment is not one of them, assuming her actions match ofr exceed her words. ] In naming Elizabeth Warren to set up a new consumer protection agency on Friday, he swiftly delighted the liberal base of his party after months of disenchantment.

How a touch of inflation could help economy (Washington Post) [ Wow! Just as I began to think I’ve been too harsh on ‘Mr. wall street-glass-half-full-Irwin’, he jars me from such complacency with the foregoing article. Mind you, such is the balderdash that’s being spun these days since, whether desired or not, hyperinflation is a-comin’ in a very big way and the so-called spin-doctors, economy-destroyers are just posturing for a full-fledged swallowing of such total b* s* (the over-printing of the evermore worthless fiat Weimar dollaro currency assures that – I also believe the same has been used to bail out holders of the still extant worthless toxic assets in the multi-trillions and now marked to anything, ie., wall street frauds, insiders, etc.). Some of the astute are saying ‘hyperinflationary depression’. Either way, the outlook’s disasterous. I leave ‘Mr. wall street-glass-half-full-Irwin’ with the following simple to remember axiom to guide his thoughts: ‘inflation bankrupts the lender’ and all that such entails. ]Inflation would make the heavy debt that Americans carry a bit more manageable as wages rise but the amount owed stays the same. And it would create more incentive for businesses to invest their cash rather than sit on it.

WHAT YOU SAID: WHAT YOU SAID (Washington Post) ‘ Ralph Novak Lincoln, Calif. I retired in 1983 after 24 years as an Air Force officer and retired again from DoD as a GS-15 in early 2005 after 20 years of service and moved to Northern California in 2006’. … ‘Yeah, I'm not rich, but my out-of-work neighbors who used to have household incomes of $300K to $500K and house payments of $5K to $8K a month look at me with a lot of envy. I worked hard, saved the TSP max and am thankful that my wife took the long view and pressed me to stay with the federal government. It's hard to see what monetary value there is in spending an entire career as a GS employee when you are working long, stress-filled days and years. But the first thing you should do after retirement is to go to your next high school/college reunion and see how the rest of the world is doing.’ [What a typical pathetic loser this guy is; and typifies that government employee attitude of indispensability when in fact they are not only superfluous and expendable, but actually a substantial drag on the nation but are a positive in one respect … adding to the nations insurmountable debt; ‘long, stress-filled days and years’ … don’t make me laugh! He forgot to say that incompetent (and corrupt, etc.) government types like him, living off the ever expanding bureaucratic tt (bushes are a great example as well, etc.) have played a huge role in creating the deplorable conditions and debacle the defacto bankrupt nation is now facing. ]

Secretary of stand-up: Corny Washington jokes? Robert Gates has a million of 'em. (Washington Post) [ Could it be that’s because he is a joke. Certainly his prognosticating continues to be … a joke. Aw, well, what the heck, he’s an affable killer from the CIA and he has resuscitated the heroin trade in Afghanistan, along with protracted war, etc., after all … eh … cut him some slack … riiiiight! ]

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position, Nobel Prize Winner Krugman’s, and that of demographer Dent … This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed … Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

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). ]

Our Best Minds Are Failing Us Newsweek | Policy and political debates still driven by outdated economic theory have been racing out of control.

The Emerging Global Fed New American | The Federal Reserve has been a nightmare for the American people. It inflates the money supply, thereby devaluing already-existing money and placing a massive hidden tax on the people via rising prices.

US ‘sees world influence declining’ amid economic woe BBC | There has been a sharp rise in the number of Americans who believe the US role as a world leader is on the decline, a survey suggests.

Accumulating Incongruities [ Bottom line in this article is that the author (and me) doesn’t buy the labor / unemployment stats which have been skewed / guesstimated to the up side which probably is no surprise given the abounding desperation and proximity to the elections ]

Household Net Worth Plunges By Most Since Q4 2008, As Government Borrowing Surges In other words, the net wealth of the US household continues to track the performance of the stock market tick for tick. And one wonders why the Fed, per Alan Greenspan’s admission, is only focused on ramping stocks up to all time highs.

The Secret List Of 10 States With Soaring Poverty Rates The Government Doesn’t Want You To See

This is only half of the story though. Despite all these methodological weaknesses I was curious enough to look for the list of states with the worst and best poverty rates. I skimmed through their 88 page report but I could not find a single table breaking down their flawed results by state. This must be top secret information, I said to myself.

The poor and impoverished turn to the forest

RT’s Anastasia Churkina re-visits Tent City – a homeless camp tucked away in the woods of New Jersey, where over 40 people have been forced to live, with nowhere else to go.

Roubini Turns Bearish On Gold (Again), Suggests Taking Profits And Buying Puts… Much Like He Did In December 2009

Rouibini has never been much of a fan of gold. Which is why we were not too surprised when we read RGE’s latest recommendation on the precious metal, which, as expected was to take profits.

More Than a Third Say It’s Okay to Walk Away from Mortgage

More than a third (36%) of respondents believe “walking away” from the mortgage is acceptable, according to a Pew Research Center survey released today.

9/11 Truth: Direct Engagement to Incite Public Inquiry Travis Crank | Too many Americans now seem all too willing to forget, to allow the events surrounding 9/11 to fall down the memory hole and just go on about their daily business after nine years.

Take a Second Look at Christine O’Donnell Keith Johnson | Those who are serious about ending the Fed must be just as serious about ending these wars.

Geo-Engineering: Killing Off The Useless Eaters Paul Joseph Watson | Injecting the atmosphere with sulfate aerosols is a completely insane, untested and dangerous proposal.

Pennsylvania Homeland Security Employed Israeli Company to Suppress American Political Dissent Kurt Nimmo | Pittsburgh cops may have employed Israeli company to squash dissent during the G20.

8-year-old expelled from two years of school for bringing toy gun in backpack NBC Miami | The 8-year-old boy hasn’t been in school for a year and will likely miss another year if the Broward County School Board has its way.

`Drudgereport: Doomsday warnings of US apocalypse gain ground... Audit: $2 million per stimulus job... 1 in 7 Americans lives in poverty...`
`50-year high... Foreclosures Rise; Repossessions Set Record...`
`Gold hits new high... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default... MICHELLE IN 'HELL': 'CAN'T STAND' FIRST LADY JOB … (at least there’s some reciprocity) ... BREITBART Shock Audio: Facing 'Obligations' From Leadership, Democrat Congresswoman Leaves Voicemail for Lobbyist Cash...`
`RASMUSSEN: First Post-Primary Poll, Coons winning in Delaware Coons (D) 53% O’Donnell (R) 42%`

Senators grill Geithner on China trade policy (Washington Post) [ When tiny tim talks, God bless us everyone, people listen … Where did I here that slogan? … Ah, that now defunct wall street brokerage … Careful tiny tim … you know how easily offended the Chinese are … (Taiwan, Taiwan, Taiwan) … And who’s going to buy the worthless american paper denominated in ever more worthless Weimar dollaros, and what if they cash out now having already lost hundreds of billions on same which cost their comrade / overseer his job … etc. ]The Treasury Secretary signaled a tougher line on China as both parties have expressed frustration with the administration's reliance on negotiation in dealing with China's currency and trade policies.

Will light bulb manufacturing stay in the U.S.? [ Methinks it’s a bit late to be asking that question. In fact, meknows it’s too late to be asking that question in light of the irrevocable structural shift precipitated by those geniuses in Washington, including among other helmsmen of this now titanic of a nation, those ‘strategists’ in those hallowed halls of, ie., the cia, nsa, think tanks, sink tanks, etc., and of course, those vaunted trade deals which include essentially all branches of the corrupt u.s. government with complicit titans / ceos of american industry with a time horizon defined by their latest compensation package / stock option expirations as cheered by the wall street frauds who sold off / transferred the technological capacity to do so; and, of course, the coup de grace, viz., that thing called NAFTA that Ross Perot was vilified for opposing and warning against. There is really nothing in america that can’t be produced cheaper elsewhere. Then there’s the defacto bankruptcy of the nation when even more corporate welfare / subsidies would be necessary to make such even remotely possible. As for prospective purported technological advances / innovations, from my view there’s only so much utility that can derived / squeezed from ‘hula hoops’. ]

Bank got even more special help (Washington Post) [ Special help? … Talk about euphemisms … LA, yes dudes, way (as they say in the valley! ] OneUnited, now at the center of a House ethics probe, received TARP aid despite its poor health. Warren to be tapped as adviser (Washington Post) [ Well, that about does it … slam-dunk for the administration … yet another ivy leaguer who at least to her credit has talked tough; but, show us the prosecutions … show us the money (they took) ! Show them the jail walls! Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud allegations that have emerged over the past year are not restricted to a few bad apples at shady companies — they involve some of the largest players in global finance. ] Obama plans to tap Harvard law professor to a special advisory role so she can help stand up a new consumer financial protection bureau while avoiding a potentially vicious Senate confirmation fight. Senate passes small business credit measure (Washington Post) [ Riiiiight! That should do the trick! Besides … It’s an election year … time to celebrate … you know, don’t worry, be happy … and what’s a paltry amount like that anyway for defacto bankrupt america, an interest payment on the insurmountable debt anyway … what the heck! (Economists Herald New Great Depression , see infra) ]The bill creates a $30 billion government fund to help open lending for credit-starved small businesses, cut their taxes and boost federal loan programs for them.

1 in 7 Americans live in poverty, Census says (Washington Post) [ Wow! Sounds like a plan! Carry on wayward ‘no recession helicopter ben b.s. bernanke, and mr. guns instead of butter as promised wobama’, et als. Workin’ like … a plan! Census Reveals 45m Americans Living in Poverty One in seven Americans is living below the poverty line, it was revealed yesterday. With 45mn Americans officially designated as poor, the US census figures reflect the worst decline in living standards for more than half a century. ] Number of people living in poverty and lacking health insurance rises; ranks of working-age poor last year reaches highest level since at least 1965. (Economists Herald New Great Depression , see infra)

Clinton wraps up Israeli, Palestinian talks - for now (Washington Post) [ That’s a wrap (Hollywood speak), or just a lot of crap (reality). Well some celluloid facetime (hill, I said celluloid, not cellulite), appearance of doing something (not).   U.S. urges Arab states to drop israel nuclear treaty demand Reuters Oooooh! Wow! Sounds like a plan! … For world conflagration … Another step toward nuclear prone middle east … israel should be exempt because ….. ‘US – Israel’s partner in crime, not a referee’   … You really can’t make this stuff up; the preposterous s* coming out of america! ]The U.S. envoy to the UN atomic watchdog urged Arab states to withdraw a resolution calling on Israel to sign an anti-nuclear arms treaty, warning it would send a negative signal to Middle East peace talks.     Israelis, Palestinians already broaching tough topics in talks, envoy says (Washington Post) ‘US – Israel’s partner in crime, not a referee’ (Infowars.com) Israeli and Palestinian leaders are holding a new round of direct talks.   Bombshell: Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA files that document the agency’s connections to the lives of Barack Obama and his mother, father, grandmother, and stepfather. ] RAMALLAH, WEST BANK - Secretary of State Hillary Rodham Clinton on Thursday wrapped up three days of intense Middle East diplomacy that produced good atmospherics but no sign that an impasse over Israeli settlement construction has been resolved. (Alex Brandon - AP)

Leading Economic Indicators Continue to Suggest Return to Contraction Is Likely

U.S. Economy "Gradually Deteriorating," Levy Says: Recession Likely in 2011

Ten Reasons This Rally Is Ultimately Toast Wachtel ‘Here are 10 reasons why risk assets (stocks, riskier forex pairs, industrial commodities) have a very high probability of a pullback very soon.

Technical Indicators: High Risk Of Downturn
The S&P 500 is the best single representative of overall risk appetite. It is telling us that a pullback is coming very soon. (chart)
1. Coming Bounce Off Of Upper Bollinger Band (standard 2, 20 default settings):

Once the index starts to pull back from its upper Bollinger band, it usually pulls back to at least its 50 day SMA, often lower. Since the end of the most recent rally in late April, this rule has worked flawlessly in both mid-June and mid-August. The index is now once again at its upper Bollinger Band.

Up Against Multiple Reinforcing Layers Of Strong Resistance Around 1120.

2. Upper Bollinger Band (noted above).

3. 200 day SMA (purple line).

4. 61.8% Fibonacci retracement from the February 2010 low (which has held up well as support, only violated for a few sessions in July and August).

5. Neckline (red horizontal line around 1125) of the big bearish Head-And-Shoulders pattern dating all the way back to the beginning of 2010. Left shoulder in January, head in April, and right shoulder in June.

6. This same resistance at 1125 is reinforced by another bearish chart pattern- a bearish double top (that may soon become a triple top if the above indicators prove correct).

7. Recent Rally On Low Volume: The rally that began in late August has been on very low volume, which suggests lack of conviction and thus less durability.

Fundamentals Don’t Support A Rally

8. We are heading into the second half of the month, which is lighter on significant news data than would be needed to justify a push past the above strong resistance layers

In addition, there is the overwhelmingly bearish fundamental backdrop:

9. US economic slowdown in every meaningful category: housing prices (where the bear market began), jobs, spending, etc. Even manufacturing, until recently a rare bright spot, has been slowing since the prior Philly Fed report.

10. The ongoing and utterly unsolved EU sovereign debt/banking crisis, with its now periodic eruptions. While we have no major eruptions reported recently, PIIGS sovereign and bank yields and CDS rates remain at May’s crisis levels, a clear indication that markets are very nervous and ready to sell off, as they have over the past weeks on news of Ireland’s latest bank bailout and a Wall Street Journal article on how the EU bank stress tests understated PIIGS bond exposure.

As noted in previous posts, support and resistance must be viewed as zones rather than precise points. The lack of news noted above could allow for continued quiet drift upward to 1140 or even a bit more.

However, that leaves little room to profit for anyone except very short term traders. Others should be planning short trades as the S&P and other risk assets head back down to test support. For the S&P 500 that would be around 1040 in the near term.

DISCLOSURE & DISCLAIMER: NO POSITIONS, THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.’

Philadelphia Manufacturing Index Falls

Foreclosures Rise; Repossessions Set Record CNBC | US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace.

Gold Rises to Record on Increased Demand for Wealth Protection Bloomberg | Gold rose to a record in London and New York as investors sought protection against turmoil in the global economy and financial markets. Silver rose to the highest price since March 2008.

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Regional Manufacturing Still Deteriorating

Despite Range Trading - Prominent Sell Signals Still Alive Simon Maierhofer, On Thursday September 16, 2010, 12:35 pm EDT About a month ago, news about the ominous Hindenburg Omen, terrible September/October and other prominent sell signals were the big buzz around Wall Street. Has the recent rally and range bound trading neutralized or even eliminated the bearish undercurrents? A look at current sentiment would make you think so. Sentiment surveys show that bullishness has soared and optimists are back in control (see chart below).But are the optimists generally right? No. In fact, unfounded optimism is one of the biggest investment traps and most effective bear market tricks. On April 16, the ETF Profit Strategy Newsletter warned that: 'The message conveyed by the composite bullishness is unmistakably bearish. Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again.' When it comes to investing, emotions tend to get in the way of making money. It takes an opportunistic, yet realistic approach to profit in this market.
Parallels Between 2000, 2007, and Today
From a purely analytical point of view, the April ETF Profit Strategy Newsletter examined the 2000 and 2007 market tops and compared them with the 2010 price action, at a time when optimism was soaring sky-high. The parallels between the 2000, 2007 and forming 2010 tops were striking, that's why the newsletter concluded that: 'A comparison between the 2000 and 2007 double tops to the current constellations shows that the market may roll over at any time.' Similar to the January/April 2000 and July/October 2007 double tops, the April 2010 highs were preceded by a lower January top. But the parallels didn't stop there.
Major Tops Followed by Decoy Rallies
Following the initial 2007 decline, the April, May 2008 rally rekindled new hope and pushed the major indexes a la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) briefly above their 200-day moving average (MA). Following the initial April 2010 decline, the July/August rally also pushed the S&P briefly above the 200-day MA. Both, in 2008 and 2010, the indexes were rebuffed by the 200-day MA. The failure to stay above the 200-day MA in May 2008 was followed by a 53.75% decline in the S&P 500. Former performance leaders like the Financial Select Sector SPDRs (NYSEArca: XLF - News) and KBW Bank ETF (NYSEArca: KBE - News) tumbled 79%, the Technology Sector SPDRs (NYSEArca: XLK - News) dropped 49%. Even conservative sectors such as utilities (NYSEArca: XLU - News) and healthcare (NYSEArca: XLV - News) dropped another 35 - 45%. Like a free diver who comes up for air, the market tends to rally to keep investors engaged before the next leg down. The chart below - which plots bullish advisor sentiment against the price of the S&P 500 from June 2007 - September 2010, illustrates the market's cruel habit of spreading hope just before the hammer drops. [chart]
It Happened Before
Since we are talking about prior market tops, we can't help but mention the mother of all sucker rallies, which occurred in 1929/1930. Following the initial 1929 meltdown, the 1930 rally recouped 50% of the previously lost points. Ironically, the 1930 rally ended on April 16. The 2010 counter trend rally ran its course on April 26. In addition to a near identical termination date, the two rallies rekindled the same kind of bullish sentiment. Below are a few headlines and statement from April 1930. Keep in mind that the Dow went on to decline more than 80% thereafter. 'For the immediate future, the outlook is bright' - Irving Fisher, Ph. D. in Economics 'I see nothing in the present situation that is either menacing or warrants pessimism.' - Andrew W. Mellon, U. S. Secretary of the Treasury 'The depression is over' - Herbert Hoover, President If you escaped the market in time, you might be able to read the following April 2010 headlines with a fair shot of humor and realize the irony: 'As job worries ease, will anything stop the stock market?' – CNBC 'Dow 11,000 is only the beginning' - Wall Street Journal 'Check the real estate: It is time to delve in' - Wall Street Journal
It Happened Recently
It's easy to dismiss any parallels to the Great Depression simply because it happened 80 years ago. However, an 80% drop is nothing unusual and has been seen recently. The Nasdaq (Nasdaq: QQQQ - News) peaked in 2000 and tumbled 78.4% within less than two years. Much evidence suggests that the Nasdaq's woes are not yet over with more losses and lower lows on the horizon. Oil prices tumbled 77% after topping at $147.3 a barrel in 2008. Both, the Nasdaq and oil prices topped at a time when higher prices were a foregone conclusion. With regards to oil, the expectation for higher fuel prices moved all major car manufacturers to advertise and build low MPG cars. As soon as their commercials hit TVs, radios, and newspapers across the country, oil and fuel prices started to drop like a rock. Some still dismiss those declines as sector bubbles, not broad market declines.
It Happened to an Entire Country
The Nikkei is Japan's version of the S&P 500 and covers hundreds of stocks. In 1989, the Nikkei topped at 38,946. Since then, it has dropped over 80% to below 8,000 (see chart below, published in the April 2010 ETF Profit Strategy Newsletter). [chart] Throughout this 20-year decline, the Nikkei had eleven rallies of 20% or more and four that were 50% or more. In total, the Nikkei rallied well over 250,000 rally points, yet it remains 76% below its 1989 peak. The decline of Japan's stock market (NYSEArca: EWJ - News) and economy happened amidst a global bull market. Imagine what can happen to the U.S. stock market during a global recession spurred by European (NYSEArca: FEZ - News) debt woes and global stock market (NYSEArca: EFA - News) weakness. It's human nature to rationalize and invent reasons why something can't happen. It's the stock market's nature to prove investors wrong. Based on parallels that aren't farfetched by any means, a follow through of the post 2007 U.S. equity meltdown is more than just a possibility.
Fundamentals, Technicals, Valuations, and History in Agreement
Investing is about putting the odds in your favor. There is no such thing as a 100% certain profit opportunity. However, there are high probability profit opportunities where the odds of having a winning trade are high and the potential reward is much higher than the potential risk. Such high probability profit opportunities occur when as many indicators as possible point in the same direction. Right now, there is a near unanimous consent between fundamental and technical indicators, along with valuations and historic patterns. The latest ETF Profit Strategy Newsletter includes a detailed analysis of various market forecasting tools, along with a short, mid, and long-term outlook for the U.S. stock market and a target range for the ultimate market bottom. Even though the economic outlook is dim, realistic investors can feel optimistic about the opportunities in the months and years ahead.

Census Reveals 45m Americans Living in Poverty One in seven Americans is living below the poverty line, it was revealed yesterday. With 45mn Americans officially designated as poor, the US census figures reflect the worst decline in living standards for more than half a century.

Gold to Surge 50% to ‘Real’ Record? Gold’s resilient trend higher to a record this week has reassured gold bugs and new investors (see ETFs) alike that the metal’s secular bull market is intact and could ultimately approach its inflation-adjusted peak of $1901 in 1980.

Fed Issues More Debt Than It Needs On Friday, September 10, 2010, Horizon Bank, Bradenton, FL was closed by the Florida Office of Financial Regulation and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

August Foreclosures Highest on Record RealtyTrac, an online foreclosure sale site, will release its monthly numbers on Thursday, but sources there confirm the number of repossessions will come in just shy of 100,000 for the month.

Stock Market Goes Into A Coma: Here's What You Need To Know Weisenthal ‘Snooze. Fest. But first, the scoreboard;
Dow: +22.75
NASDAQ: +1.83
S&P 500: -044
And now, the top stories:

Well, there really wasn't very much. Asia was quiet, though China is ominously breaking down. India did do a surprise rate hike.

Europe: quiet.

In the US, the big news was the jobless claims at 8:30 which were better than expected, the Philly Fed, which was worse than expected, and the PPI, which was hotter than expected. None of those releases move the market very much at all.

There was also nothing real big on the macro front. No gigantic currency movies in one way or another.

Volume was very light, and when you combine it with CNBC running its special on high-frequency trading, you gotta figure we're nearing a peak in terms of lack of activity.’

Eco-Fascists Call For Tyranny To Enforce Draconian Agenda Paul Joseph Watson | The ugly face of eugenics peers from behind the mask of environmentalism.

Gold And Silver Hit New Highs For Second Time In One Week Steve Watson | Gold and Silver have once again risen to new highs, with bullion futures soaring close to a record $1,280 an ounce as the dollar fell to a five week low against the euro.

Globalist Foundation Exploits Angry Child to Blame Adults for Fake Climate Change Kurt Nimmo | Boy donning a gangbanger hoodie warns that adults have had their chance to save the earth and now it will be the responsibility of the next generation.

Protest Group Demands Investigation Into Homeland Security Spying Paul Joseph Watson | Latest case follows multi-year trend of authorities being trained to treat peaceful, patriotic Americans as domestic terrorists.

O’Reilly (bill the perve) Says 9/11 Truth Activists Are Dangerous Radicals Kurt Nimmo | Links Muslim scholar and first responder to Ground Zero imam Feisal Abdul Rauf.

White House Science Czar Says He Would Use ‘Free Market’ to ‘De-Develop the United States’ In a video interview this week, White House Office of Science and Technology Director John P. Holdren told CNSNews.com that he would use the “free market economy” to implement the “massive campaign” he advocated along with Population Bomb author Paul Ehrlich to “de-develop the United States.”

Shock Audio: DC Congresswoman Leaves Voicemail Asking For Lobbyist Cash Delegate to Congress for the District of Columbia Rep. Eleanor Holmes Norton leaves voice mail citing her seniority and stimulus-based projects in lobbyist’s “sector”.

U.S. urges Arab states to drop israel nuclear treaty demand Reuters [ Oooooh! Wow! Sounds like a plan! For world conflagration … Another step toward nuclear prone middle east … israel should be exempt because ….. ‘US – Israel’s partner in crime, not a referee’   … You really can’t make this stuff up; the preposterous s* coming out of america! ]The U.S. envoy to the UN atomic watchdog urged Arab states to withdraw a resolution calling on Israel to sign an anti-nuclear arms treaty, warning it would send a negative signal to Middle East peace talks.     Israelis, Palestinians already broaching tough topics in talks, envoy says (Washington Post) ‘US – Israel’s partner in crime, not a referee’ (Infowars.com) Israeli and Palestinian leaders are holding a new round of direct talks.   Bombshell: Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA files that document the agency’s connections to the lives of Barack Obama and his mother, father, grandmother, and stepfather.

`Drudgereport: Doomsday warnings of US apocalypse gain ground... 1 in 7 Americans lives in poverty...`
`50-year high... Foreclosures Rise; Repossessions Set Record...`
`Gold hits new high... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default... MICHELLE IN 'HELL': 'CAN'T STAND' FIRST LADY JOB … (at least there’s some reciprocity) ... BREITBART Shock Audio: Facing 'Obligations' From Leadership, Democrat Congresswoman Leaves Voicemail for Lobbyist Cash...`
`RASMUSSEN: First Post-Primary Poll, Coons winning in Delaware Coons (D) 53% O’Donnell (R) 42%`

O'Donnell's win throws a challenge at the GOP (Washington Post) [ Aw shucks! Change just around the corner say the bipartisan incumbents… change afoot, like wobama’s foot in his mouth / a change … Let’s get real … no real change is a-coming … but ‘hopium’ (previously discussed) is a powerfully addictive drug. Let’s all awake from this hopium induced stupor and read these government frauds the riot act! Defacto bankrupt american politics are getting downright nasty (AP). Ask nancy pelosi, ‘the wicked witch of the west’   ( only a minute, this political ad by John Dennis is well done and very funny) http://albertpeia.com/nancypelosiwickedwitchofthewest.flv . ] By beating their candidate for the Senate seat in Delaware, the tea party sends a message to the Republican establishment: You are not in charge.   Frustration with GOP pushed win O'Donnell's win in the Delaware Senate primary reflects voter sentiment toward party elders.

Fed faces tough choices (Washington Post) [ Wow! Mr. ‘wall street-glass-half-full’ has in a phrase ended the financial crisis, though many sure have been fooled into thinking otherwise by that thing called reality … Yes, ‘no-recession helicopter ben b.s. bernanke’ also in a phrase must decide, ‘to print, or not to print much, or much much, or much much much, etc., more worthless Weimar currency colloquially known as the american dollaro. Well, we really know where that one’s going. Shocking CNBC Headline: “Home Price Double Dip Begins” Diana Olick, by far the best reporter at CNBC, and not merely an anchored regurgitator of propaganda bullet points, let one slip today, by posting an article on CNBC titled: “Home Price Double Dip Begins”.    Are poll workers being used to inflate jobs totals? Workers at polling places for today’s primary and November’s general election are being required to file tax withholding forms for the first time ever in a move that could be aimed at inflating the nation’s employment numbers. ] Agency is facing its biggest decision since the end of the financial crisis, confronting a fateful choice this fall whether to take new steps to boost the economy.

U.S. sharpens criticism of China (Washington Post) [ Riiiiight, tiny tim … blame the Chinese for your failed policies, though not exclusively your failed policies … might be good for a 1/32 point shaved from the interest on the gargantuan debt defacto bankrupt america owes them which is still many billons over time so large is the debt. ]Treasury Secretary Tiny TimGeithner signals a tougher line toward China's economic policies, saying that he plans to persuade China to change how it manages its currency and to treat U.S. businesses more fairly.

Stocks' rise defies record (Washington Post) [ Oh come on! The record’s not all that’s being defied; try reason, rationality, etc.. Underestimating the Risks of the Stock Market    Keep in mind, this is an election year and as good as it gets, as bad as it is beyond the spun / fake market-frothing data ] [Babak ‘If you spend enough time trading and studying the markets you realize viscerally that markets tend to fall and fall hard much more than they rise. We got a very good example of this in the 2008 bear market where the S&P 500 index gave back in about 18 months all the gains that had taken it almost 5 years to accumulate (March 2003 to October 2007). The theoretical framework that many people use and that which is still taught in finance classes across the globe continues to assume that returns fall into a normal distribution. While it is useful to know that modern portfolio theory and EMH are flimsy theories with no real world applications, it doesn’t help us to recalibrate our instruments to just how asymmetrical stock returns really are. To get at that answer, the research team at Welton Investments compared the actual distribution of returns from the S&P 500 index over the past 50 years with the expected risk based on a Monte Carlo simulation. The results are shown in the chart below: [ chart Source: Tail Risk ] This study shows that investors continuously and severely underestimated negative returns. In fact, going by rolling quarterly losses of 20% or more, investors experienced 5.3 times more of these “fat tail” events than that accounted for by the expectations based on a normal distribution. That difference is huge! Knowing this historical reality, investors have two choices: either don’t play the game (get out of stocks) or play but have a safety net handy for the inevitable fall …’ ] Defying September's track record of being unkind to investors, the stock market has shot up for the past two weeks as investors have grown less fearful the economy will slip into another recession.

Empire State Manufacturing Falls in September

Technical Resistance: Here We Go Again Hui ‘…The odds seem to favor another downleg for a couple of reasons.
First of all, investor sentiment has gotten incredibly bullish in the space of a couple of weeks, which is contrarian bearish.
More important for the intermediate term, the market is facing a number of macro headwinds of economic weakness starting in 4Q. John Hussman noted in his latest weekly comment [emphasis added]: As I've noted frequently in recent commentaries, the typical lag between deterioration in say, the ECRI Weekly Leading Index and the ISM Purchasing Managers Index is about 13 weeks, and sometimes longer. The typical lag with respect to new claims for unemployment is about 23-26 weeks (which puts the likely window of deterioration at about the October - November time frame), and the typical lag with respect to the payroll unemployment report is, not surprisingly, about 4 weeks beyond that.
Uber-bear Albert Edwards put it more bluntly:The current situation reminds me of mid 2007. Investors then were content to stick their heads into very deep sand and ignore the fact that The Great Unwind had clearly begun. But in August and September 2007, even though the wheels were clearly falling off the global economy, the S&P still managed to rally 15%! The recent reaction to data suggests the market is in a similar deluded state of mind. Yet again, equity investors refuse to accept they are now locked in a Vulcan death grip and are about to fall unconscious…’

The Dow Is Overbought on Its Daily Chart

To Dip or Double-Dip? Janjigian There has been a lot of talk lately about whether or not we will have a double-dip recession. I have long been in the camp that says a double-dip is a real possibility. I believe the probability for a second recession is higher now than it was last March. But how does one actually assign a number to this probability? The economists Nouriel Roubini and Martin Feldstein are perhaps the most bearish on the economy. They say the chances of a second recession are about one in three. This means they believe that if the economy were to experience the same exact conditions it is experiencing now hundreds of times, one-third of those times would result in a recession. Another way to look at is that the probability that we will not have a second recession is about 67%. In other words, even the most bearish economists believe there is a much better chance that we will avoid a second recession than there is that we will actually have one … [ Hey, come on! If they only were the most bearish on the economy … Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

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). ]

Industrial output growth slows (Reuters) WASHINGTON (Reuters) – ‘U.S. industrial output slowed last month and a regional measure of factory activity touched a 14-month low in September, pointing to a cooling in manufacturing as the boost from an inventory build-up fades. The reports on Wednesday were consistent with other data suggesting the U.S. economy is stuck in a soft spot, but they also showed the manufacturing sector continued to expand and offered nothing to suggest a new recession was brewing. "We have a sharp slowdown, but that doesn't look like it's going to develop into an outright collapse," said Paul Ashworth, senior U.S. economist at Capital Economics in Toronto. Industrial production rose 0.2 percent in August, Federal Reserve data showed, matching economists' forecasts for a sharp slowdown from July when unusually strong auto manufacturing lifted output. July's gain was revised down to 0.6 percent from 1 percent …’

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Six in 10 Canadians live pay to pay Globe and Mail | Fifty-nine per cent of Canadian workers say they would be in financial trouble if their paycheque was delayed by just a week.

IMF fears ‘social explosion’ from world jobs crisis Telegraph | America and Europe face the worst jobs crisis since the 1930s and risk “an explosion of social unrest” unless they tread carefully, the International Monetary Fund has warned.

Shocking CNBC Headline: “Home Price Double Dip Begins” Diana Olick, by far the best reporter at CNBC, and not merely an anchored regurgitator of propaganda bullet points, let one slip today, by posting an article on CNBC titled: “Home Price Double Dip Begins”.

Are poll workers being used to inflate jobs totals? Workers at polling places for today’s primary and November’s general election are being required to file tax withholding forms for the first time ever in a move that could be aimed at inflating the nation’s employment numbers.

Currency Intervention, Bitches After a six year wait, the BoJ has finally had enough of the Federal Reserve’s endless manipulation and has itself intervened in the currency market.

Where Are The Jobs? Most Americans don’t really care about the economic minutiae that many of us who study the U.S. economy love to pour over.

‘US – Israel’s partner in crime, not a referee’ Israeli and Palestinian leaders are holding a new round of direct talks.

Defacto bankrupt american politics are getting downright nasty. Ask nancy pelosi, ‘the wicked witch of the west’   http://albertpeia.com/nancypelosiwickedwitchofthewest.flv .

Justice Breyer Suggests “Globalization” Trumps First Amendment Supreme Court Associate Justice Stephen Breyer was indecisive when answering a question about whether or not Pastor Terry Jones’ proposed Koran burning was protected by free speech, suggesting that “globalization” now trumps the First Amendment in the eyes of lawmakers.

Let’s Raise Taxes, Greenspan Tells CFR “I am in favor for the first time in my memory [What memory? Incompetent greenspun is senile! ] of raising taxes,” Greenspan told an audience at the Council on Foreign Relations in New York.

Government Bans Tea Party From Celebrating U.S. Constitution Local government representatives in an Ohio town have taken it upon themselves to prohibit a Tea Party celebration of the US Constitution, prompting a lawsuit over restrictions on First Amendment rights.

Globalist Soros Declares “Gold Is The Ultimate Bubble”… Again Billionaire globalist George Soros wants you to think that investing in Gold is “unsafe” and that the rallies the precious metal has seen in the wake of the economic implosion are abnormal.

Police Continue to Harass Citizens Who Record Them A number of cases show how police continue to misunderstand citizens’ rights to record their behavior, and they’re now neatly compiled into a video from the Cato Institute.

Anti-Establishment Fervor A Hammer Blow To Washington Elite Amidst the defeat two more establishment Republicans by Tea Party candidates last night, a new Rasmussen poll shows that anti-incumbent challenger Sharron Angle is now tied with Democratic Senate Majority Leader Harry Reid, and stands a good chance of ousting him in November, which would represent a massive blow to the Washington elite.

Karl Rove: Defender of Forever War and a Devastating National Debt Kurt Nimmo | Rove loathes Christine O’Donnell because she represents political change in Washington — and that must be halted at all cost.

Secretive Executive Order Establishes ‘Big Brother’ Health Bureaucracy Eric Blair | Obama quietly signed an Executive Order that some claim lays the foundation for implementing Codex Alimentarius.

Bill Gates Death Panels Tip of Iceberg Paul Joseph Watson, Kurt Nimmo & Alex Jones | Gates in cahoots with the Rockefellers and the bioethics movement to deny health care to Americans.

Anti-Establishment Fervor A Hammer Blow To Washington Elite Paul Joseph Watson | Waiting for an October surprise: The system is cornered, desperate, and dangerous.

Pennsylvania Homeland Security Puts Anti-tax Protesters On List of Terror Threats Kurt Nimmo | Pennsylvania’s Democrat governor Ed Renell says he is “deeply embarrassed” by the disclosure.

`Drudgereport: Doomsday warnings of US apocalypse gain ground... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default... NYC Disaster On Primary Day; Machine Glitches Cause Chaos...`
`Bloomberg Blasts...`
`Feds probing... US troops continue combat missions in Iraq, despite Obama's end-of-war speech... Poll workers being used to inflate jobs totals? Retirement on Hold: American Workers $6 Trillion Short...`

`REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...`
`Paul says GOP shares blame for deficits...`
`Kerry flip-flops on tax cuts...`

`Muslims protest Quran-burning plan...`
`Florida pastor calls it off...`
`Christians rip pages from Muslim holy book in front of White House...`
`Man ignites Quran near Ground Zero...`
`VIDEO...`
`Mosque opponents, supporters face off in downtown NYC...`
`OBAMA: 'We are not and never will be at war with Islam'...`

`'Tea party' favorites score in DE, NY...`
`Establishment Freaks...`
`'One nation under revolt'...`
`Christine Smacks Rove: 'So-Called Political Guru'...`
`CASH POURS IN FOR O'DONNELL; $500,000 IN ONE DAY...`
`Upsets...`
`RESULTS...`
`WIRE...`
`IN: RANGEL SURVIVES CHALLENGE...`
`OUT: DC MAYOR VOTED DOWN IN UPSET...`
`HANGING: DINGELL WARNS DONORS HE COULD LOSE...`
`Dems gamble by shifting fire to Boehner...`
`Bill Clinton: New-look GOP makes Bush look liberal!`
`POLL: Only 25% of public trusts gov't...`
`The Crash, Obama and Disappearing Dem Majority...`

Jobless strain Social Security's disability program (Washington Post) [ Jobless? Strain? Disability? If only that were the only problem for the debacle that will be called ‘social security’. Indeed, even at full employment, those worthless iou’s will still be worthless as this typical capital hill political math project will eventually, as with ponzi schemes generally, end very badly. ]

More banks missing TARP dividend payments [ Isn’t it true as never before in the short history of defacto bankrupt america, that nothing succeeds in america quite like a lack of success? ] Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013 …]

Pearlstein: A bold new breed of bank regulators (Washington Post) [ Wow! Gee! I had always viewed Mr. Pearlstein as a grounded kind of guy. You know … somewhat realistic … I guess I was wrong ‘cause who’s kidding whom? Criminal prosecutions, jail, fines, and disgorgement are the only way to maximize regulatory effectiveness, presently and prospectively. As of now, it pays for the predisposed frauds to take what currently is miniscule chance of prosecution for what have been and remain huge personal and corporate gains.   Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud allegations that have emerged over the past year are not restricted to a few bad apples at shady companies — they involve some of the largest players in global finance. Finance groups: Long transition to ease new bank rules (Washington Post) [ Basel’s all the rage … Riiiiight! Bonkers for Basel, the thing in rally vogue this day … but, not Basil as in Basil Rathbone of super sleuth Sherlock Holmes film fame who’d make short shrift of this fraudulent wall street contagion that has swept over Europe in a manner to rightfully earn the moniker ‘eventual black Friday plague’ … and then there’s the ‘higher oil price’ part of the suckers’ rally. We can certainly expect Rosanne Rosanna Danna formerly of SNL fame, as night follows the day, to chime in with a reminder as her mama always used to say, ‘it’s always something’ … but unfortunately, that somethin’ is not reality. YAHOO [BRIEFING.COM]: ‘Broad-based buying on the back of Basel III boosted stocks to their fourth straight gain, or seventh advance in eight sessions. Still, participation remained unimpressive ... ‘ AP Business Highlights ‘… Banks get years to adjust to new global rules   BASEL, Switzerland (AP) -- Bankers and analysts said new global rules could mean less money available to lend to businesses and consumers, but praised a decision to leave plenty of time -- until 2019 -- before the financial stability requirements come into full force’ ] The requirements adopted by the Basel Committee on Banking Supervision fall short of what's needed to prevent another financial crisis. ]

Asian sites' protection urged to save tigers (Washington Post) [ This is clearly a noble task of the highest order that will effect returns manyfold in the most positive sense for this increasing small and troubled world. ] Just 42 sites across Asia, ranging from temperate forests to tropical grasslands, are key to the survival of one of the world's most iconic, and feared, wild cats - the tiger.

Buried Alive - Prominent Sell Signals

Is the Stock Market Safe? [ This time the consensus is correct, in a ‘fish in a barrel’ kind of way! ]‘In a word, no. That’s the general consensus found in a survey of individual investors done by AP and CNBC this week. As if dealing with two major bear markets since the turn of the century wasn’t enough, all the talk about high frequency trading and the May 6th "Flash Crash" seems to have pushed individual investors over the edge in terms of their comfort level with the stock market. In fact, according to an AP/CNBC poll, 55% of those surveyed believe the stock market is fair only to some investors. The bottom line of this particular survey is that investors are now wary about the idea of using the stock market as a way to invest for retirement. Instead, the survey found that the vast majority of individual investors continue to pump unprecedented amounts of money into what many believe is the most overvalued asset class on the planet – government bonds. One result of the 10-plus year secular bear market in stocks is the gradual erosion of the public’s interest and confidence in stocks as an investment. Of course this HAS happened before. Anyone recall the 1982 cover of Time magazine with the title “The Death of Equities?” Although the cyclical bull market that began in March 2009 remains intact, the public has been pulling money out of the market on a monthly basis. Since January 2008, the Investment Company Institute reports that a total of $244 billion has been withdrawn from US equity funds. Yet at the same time, a total of more than $589 billion has poured into US bond mutual funds, which is an unparalleled amount. It appears that the "Flash Crash" may have been the straw that broke the camel’s back. For example, in the 11 weeks prior to May 6th the public pumped a strong $26.6 billion into equity mutual funds. This is hardly surprising since during that time the market was rising steadily and had gained more than 70% in the past 12 months. However, in the 16 weeks since the "Flash Crash," investors have been running scared. In fact, Investment Company Institute reports that the public has pulled money out of US equity funds each and every week since, with cumulative withdrawals now totaling $55.9 billion. Thus, it would appear that the market’s recent volatility has caused the investing public to lose confidence in the market. The AP/CNBC poll found that 61% of those surveyed felt the volatility has made them less confident about buying and selling stocks. There is also a widespread perception is that the market is rigged or unfair to the little guy. Nearly 90% of the survey respondents whose portfolios are less than $50,000 said the market is unfair to small investors. In addition, the public doesn’t seem to have much faith in the administration to fix the situation in the market. The poll found that just 8% expressed strong confidence in federal regulators while 50% expressed little-to-no confidence in those tasked with overseeing the markets. Does this mean it is time to give up on the stock market as an investment vehicle? We would respond with a resounding “no!” The trick is to understand that the game has changed. After an 18-year bull market, the tide has turned. As such, investors actually have to do something besides putting money into any old mutual fund and closing their eyes. Disclosure: No positions’ [Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.

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). ]

Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud allegations that have emerged over the past year are not restricted to a few bad apples at shady companies — they involve some of the largest players in global finance.

Hatzius: The Risks Are Still to the Downside

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Six in 10 Canadians live pay to pay Globe and Mail | Fifty-nine per cent of Canadian workers say they would be in financial trouble if their paycheque was delayed by just a week.

IMF fears ‘social explosion’ from world jobs crisis Telegraph | America and Europe face the worst jobs crisis since the 1930s and risk “an explosion of social unrest” unless they tread carefully, the International Monetary Fund has warned.

‘The Great American Stickup’: It Was The Economy, Stupid It is not conspiratorial but rather accurate to suggest that blame can be assigned to those who consciously developed and implemented a policy of radical financial deregulation that led to a global recession.

John Williams Sees The Onset Of Hyperinflation In As Little As 6 To 9 Months As Fed “Tap Dances On A Land Mine” John Williams, arguably one of the best trackers of real, unmanipulated government data via his Shadow Stats blog, has just released a note to clients in which he warns that hyperinflation may hit as soon as 6 to 9 months from today.

Will the Basel III Bank Regulations Change Anything? The much-trumpeted Basel III increase in capital requirements will not be fully phased in until 2019.

Three Powerful Trends Will Push Gold Prices To $1600 UniCredit has upgraded their target price for gold from $1,250 to $1,600 by the end of 2012. The reason for the upgrade is based on three powerful trends: the fear over “money printing” at the Fed (QE), the idea that the Euro sovereign debt crisis represents a condemnation of fiat money and increasing demand for gold from China.

The Real Story Behind Bill Gates And “Death Panels” Bill Gates’ advocacy for “death panels” has caused controversy amongst conservative commentators, but the real outrage behind the story has been completely overlooked – the fact that Gates is a hardcore eugenicist and has called for lowering the global population through vaccines which his foundation funds to the tune of billions.

Ex-CIA Agents Confirm Torture at Polish Black Site Former CIA agents have confirmed rumors that the agency tortured terror suspects at a detention center in Poland. One agent allegedly held a drill to a prisoner’s head while he was naked and hooded.

Blair’s Journey: US medal for ‘war criminal’? Former British Prime Minister Tony Blair will receive a prestigious American medal for human rights work. But in his ten years as premier, Blair went from huge popularity to being called a U.S. poodle. His policies in Iraq and Afghanistan earned him accusations of having blood on his hands. And as Laura Emmett reports, many are outraged at his latest award.

Big Sis To Get Expanded Role In Policing Internet Two cybersecurity bills that would hand President Obama the power to shut down parts of the Internet in the event of a national emergency have now been merged into a single unified piece of legislation that Democrats will try to pass before the end of the year, with the Department of Homeland Security being given a larger role in policing the world wide web.

Peace Activist Cindy Sheehan: “I am A 9/11 Truther” Cindy Sheehan, the anti-war activist who lost her son to the ongoing war in Iraq, delivered an impassioned and emotional speech during which she specifically addressed concerns over the 9/11 attacks and stated that she believes they were orchestrated by elements of the U.S. government for political gain.

Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War Party Soros and crew want to get out the vote at all cost, even if they have to exploit kids.

Gold and Silver Explode as Banksters Abandon Market Manipulation Gold has surged to a new high as the prospect of inflation reared its ugly head in the United Kingdom on bad news from a report indicating a weaker-than-expected eurozone industrial production. Germany and France, despite sovereign debt fears, have been able to manage anemic growth but today’s data signals a slow down.

Allegation: Americans Flooded Out Millions in Pakistan to Protect U.S. Drone Military Base Feryal Ali Gauhar served as a Goodwill Ambassador for the United Nations Population Fund and is the only UN Goodwill Ambassador who quit over the invasion of Iraq.

The Biocratic Utopians Part I: Prussian Grenadiers Jurriaan Maessen | The ambition of the biocrats is to create a “superior” class of men.

Gold and Silver Explode as Banksters Abandon Market Manipulation Kurt Nimmo | Gold traded as high as $1,261.90 on Tuesday.

Big Sis To Get Expanded Role In Policing Internet Paul Joseph Watson | Democrats want “Kill Switch” bill passed this year.

Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War Party Kurt Nimmo | The Twitter crowd needs to know that the health of the state is perpetual war.

Expanding U.S.-Canada Security and Economic Partnership Dana Gabriel | NAFTA partners are pursuing a more bilateral agenda for advancing continental integration.

`Drudgereport: 'Tea party' favorites lead in NH, Delaware...`
`Establishment Freaks...`
`Upsets...`
`RESULTS...`
`WIRE... Doomsday warnings of US apocalypse gain ground... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default...`

`REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...`
`Paul says GOP shares blame for deficits...`
`Kerry flip-flops on tax cuts...`

`Muslims protest Quran-burning plan...`
`Florida pastor calls it off...`
`Christians rip pages from Muslim holy book in front of White House...`
`Man ignites Quran near Ground Zero...`
`VIDEO...`
`Mosque opponents, supporters face off in downtown NYC...`
`OBAMA: 'We are not and never will be at war with Islam'...`

Finance groups: Long transition to ease new bank rules (Washington Post) [ Basel’s all the rage … Riiiiight! Bonkers for Basel, the thing in rally vogue this day … but, not Basil as in Basil Rathbone of super sleuth Sherlock Holmes film fame who’d make short shrift of this fraudulent wall street contagion that has swept over Europe in a manner to rightfully earn the moniker ‘eventual black Friday plague’ … and then there’s the ‘higher oil price’ part of the suckers’ rally. We can certainly expect Rosanne Rosanna Danna formerly of SNL fame, as night follows the day, to chime in with a reminder as her mama always used to say, ‘it’s always something’ … but unfortunately, that somethin’ is not reality. YAHOO [BRIEFING.COM]: ‘Broad-based buying on the back of Basel III boosted stocks to their fourth straight gain, or seventh advance in eight sessions. Still, participation remained unimpressive ... ‘ AP Business Highlights ‘… Banks get years to adjust to new global rules   BASEL, Switzerland (AP) -- Bankers and analysts said new global rules could mean less money available to lend to businesses and consumers, but praised a decision to leave plenty of time -- until 2019 -- before the financial stability requirements come into full force ...’ ]Critics caution, however, that the requirements adopted by the Basel Committee on Banking Supervision fall short of what's needed to prevent another financial crisis.

Cuba to cut 500,000 workers, reform salaries (Washington Post) [ Boy, when Castro said communism wasn’t working for them anymore, he wasn’t kidding! No gloating for defacto bankrupt, pervasively corrupt america which is a far cry from capitalism and but a whisper from collapse itself.]

Banks miss TARP payments (Washington Post) [ Sounds like a plan! … Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013 … (see rest of article infra)]

Economy's fallout (Washington Post) The fallout of a troubled economy [ I’m sorry to say that … you ain’t seen nothing yet … much worse to come! ]From foreclosure to food shortages, the recession set in motion by the financial crisis of 2008 is having a broad and deeply-felt global impact.

Doomsday warnings of US apocalypse gain ground AFP | Economists peddling dire warnings that the world’s number one economy is on the brink of collapse.

A subtler tack to fight Afghan corruption? (Washington Post) [ How about a not so subtler tack to fight corruption starting right here in the u.s. of a. where corruption and crime are pervasive and in fact, at the root of the Afghanistan problems, from american reinvigorated heroin trade to bribery attendant thereto to killing civilians, etc.. Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations … in crime:

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY SHOWING LATEST AVAILABLE DATA (america’s No. 1).

Rank

Countries

Amount

# 1

United States:

11,877,218

# 2

United Kingdom:

6,523,706

# 3

Germany:

6,507,394

… ]

Doomsday warnings of US apocalypse gain ground AFP | Economists peddling dire warnings that the world’s number one economy is on the brink of collapse.

Why New Bank Capital Rules Could Make Things Worse CNBC | Early reports suggest the required levels of capital will be much lower than feared, and the kinds of assets that can be used to meet the requirements more expansive than earlier proposals suggested.

Economic Docs Find Remedy Amid Bubble Rubble Even the most casual observer of the events of the last five years — the housing bubble, the bust and the digging-out process — would be struck by the similarities between the policies that got us into this mess and the prescriptions for getting us out.

World Panel Backs Rules to Avert Banking Crises Top central bankers and bank regulators agreed Sunday on far-reaching new rules for the global banking industry that are designed to avert future financial disasters, but could also dampen bank profits and strain weaker institutions.

Tim Geithner Warns: The US Is At Risk Of A 1930s Repeat If the government become paralyzed — as is arguably the case already, and is clearly a serious risk should the GOP take over — the US risks a 1930s-like scenario. At least according to Tim Geithner.

M2 Surges By $30 Billion In Past Week To Highest Ever, Even As Monetary Base Declines Another week in which the M2 jumped to a fresh all time high, increasing by $30 billion W/W to just under $8.7 trillion.

Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013.

The failed bank was publicly-traded Horizon Bank (HZNB.OB), which had huge overexposures to C&D and CRE loans with risk ratios of 358% and 1769% versus the ignored regulatory guidelines of 100% and 300% of risk-based capital. The commitment pipeline of commercial real estate loans was 99% funded as “extend and pretend” caused this failure. The consolidator bank has been used before by the FDIC; Bank of the Ozarks (OZRK) which has a HOLD rating according to ValuEngine.

Here are some statistics from the FDIC for the Second Quarter 2010: There were 45 bank failures in the second quarter, and we ended the quarter with the number of FDIC-insured financial institutions declining to 7,893, of which 1306 are publicly-traded.

· 1172 of all community banks (14.8%) are overexposed to Construction & Development Loans.

· 1432 or 18.1% are overexposed to Nonfarm / Nonresidential real estate loans.

· 2504 or 31.7% are thus overexposed to Commercial Real Estate loans.

· 1317 or 16.7% have a real estate loan pipeline that’s 100% funded.

· 2622 or 33.2% have a pipeline that’s between 80% and 100% funded.

· 3939 of 49.9% of all banks have a pipeline that’s 80% or more funded. So half the community banks in America remain overleveraged to Commercial Real Estate and the possible losses remain about $1.5 trillion.

Publicly-Traded Banks:

· 293 of the 1306 publicly-traded banks are overexposed to C&D loans

· 394 are overexposed to Nonfarm / Nonresidential real estate loans.

· 687 or 52.6% of the publicly-traded banks are thus overexposed to Commercial Real Estate loans. We publish this list as the ValuEngine List of Problem Banks.

· 234 publicly-traded banks have a real estate loan portfolio that’s 100% funded.

· 463 have a real estate loan portfolio between 80% and 100% funded.

· 697 thus have significant real estate loan pipeline stress.

Problem Banks at the end of the Second Quarter versus the First Quarter:

·         Given the waves of bank failures the total assets among the 686 Publicly-Traded Problem Banks declined to $135.9 billion from $164.7 billion in the first quarter. C&D loans declined to $12.7 billion from $16.4 billion with a CRE loan pipeline steady at 78.1% versus 78.0%.

·         Assets among the 91 Deadbeat Banks, (those in arrears on making TARP dividend payments), totals $99.9 billion with C&D loans at $10.9 billion and a CRE pipeline of 80.9%.

·         Assets among failed publicly-traded banks increased to $122.5 billion from $116.7 billion in the first quarter. C&D loans increased to $22.3 billion from $21.5 billion. The CRE loan pipeline increased a tick to 90.4% from 90.3%.

Assets among banks with a CRE pipeline of 80% or more funded increased to $3.84 trillion including $121.3 billion in C&D loans. The average pipeline for 3939 banks is 92.0%. Among this list are four big banks that will likely see waves of write-offs in upcoming quarters.

·         JP Morgan Chase (JPM) with $1.72 trillion in assets has a pipeline of 80%.

·         SunTrust Banks (STI) has $160.5 billion in assets with an 83% pipeline.

·         BB&T Corp (BBT) has $149.2 billion in assets with an 84% pipeline.

·         Fifth Third Bank (FITB) has 100.0 billion in assets with an 84% pipeline.

Disclosure: No positions’

U.S. Trade Deficit Still Growing

Why New Bank Capital Rules Could Make Things Worse CNBC | Early reports suggest the required levels of capital will be much lower than feared, and the kinds of assets that can be used to meet the requirements more expansive than earlier proposals suggested.

Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 Matthias Chang | Quantitative Easing spearheaded by the Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations … in crime:

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY SHOWING LATEST AVAILABLE DATA (america’s No. 1).

Rank

Countries

Amount

# 1

United States:

11,877,218

# 2

United Kingdom:

6,523,706

# 3

Germany:

6,507,394

# 4

France:

3,771,850

# 5

Russia:

2,952,370

# 6

Japan:

2,853,739

# 7

South Africa:

2,683,849

# 8

Canada:

2,516,918

# 9

Italy:

2,231,550

# 10

India:

1,764,630

# 11

Korea, South:

1,543,220

# 12

Mexico:

1,516,029

# 13

Netherlands:

1,422,863

# 14

Poland:

1,404,229

# 15

Argentina:

1,340,529

# 16

Sweden:

1,234,784

# 17

Belgium:

973,548

# 18

Spain:

923,271

# 19

Chile:

593,997

# 20

Thailand:

565,108

# 21

Ukraine:

553,594

# 22

Austria:

552,411

# 23

Finland:

520,194

# 24

Denmark:

491,026

# 25

New Zealand:

427,230

# 26

Hungary:

420,782

# 27

Czech Republic:

372,341

# 28

Zimbabwe:

351,153

# 29

Norway:

330,071

# 30

Romania:

312,204

# 31

Switzerland:

307,631

# 32

Turkey:

286,482

# 33

Morocco:

283,702

# 34

Venezuela:

236,165

# 35

Portugal:

218,360

# 36

Colombia:

214,192

# 37

Malaysia:

167,173

# 38

Peru:

161,621

# 39

Bulgaria:

148,915

# 40

Uruguay:

134,010

# 41

Belarus:

132,867

# 42

Tunisia:

130,375

# 43

Slovakia:

107,373

# 44

Greece:

102,783

# 45

Croatia:

101,853

# 46

Lithuania:

92,646

# 47

Philippines:

85,776

# 48

Saudi Arabia:

84,599

# 49

Slovenia:

81,697

# 50

Ireland:

81,274

# 51

Hong Kong:

80,592

# 52

Iceland:

60,242

# 53

Zambia:

59,426

# 54

Estonia:

57,799

# 55

Latvia:

49,329

# 56

El Salvador:

44,762

# 57

Costa Rica:

40,263

# 58

Jamaica:

39,188

# 59

Kyrgyzstan:

38,620

# 60

Moldova:

36,302

# 61

Mauritius:

35,943

# 62

Bolivia:

31,138

# 63

Luxembourg:

26,046

# 64

Yemen:

24,066

# 65

Panama:

21,058

# 66

Macedonia, The Former Yugoslav Republic of:

19,814

# 67

Kuwait:

19,350

# 68

Burma:

18,301

# 69

Malta:

17,023

# 70

Azerbaijan:

15,520

# 71

Georgia:

15,029

# 72

Papua New Guinea:

13,292

# 73

Cyprus:

13,023

# 74

Armenia:

12,048

# 75

Oman:

11,782

# 76

Nepal:

8,872

# 77

Dominica:

7,857

# 78

Maldives:

7,026

# 79

Qatar:

5,838

# 80

Albania:

5,303

# 81

Seychelles:

4,297

# 82

Montserrat:

751

Total:

63,531,202

Weighted average:

774,770.8

DEFINITION: Note: Crime statistics are often better indicators of prevalence of law enforcement and willingness to report crime (I believe, and facts support, crime in america to be substantially under-reported and under-prosecuted owing to pervasive corruption, arbitrary enforcement of the law, etc.) than actual prevalence.

SOURCE: The Eighth United Nations Survey on Crime Trends and the Operations of Criminal Justice Systems (2002) (United Nations Office on Drugs and Crime, Centre for International Crime Prevention)

The New Terrorist Threat To America: Drunk British Teenagers Brandishing Insults Steve Watson | College student banned from US for life for name calling email to White House. I’m sure he’s crying both night and day … you know, from prospective loss of that new global roach motel (once you go in, you never come out); viz., the disunited states of america; and wow, talk about thin skin; who can’t think of far worse to call wobama; and then, there’s the real terror threat.

Big Sis Iris Scanners: The Prison Without Bars Paul Joseph Watson | Americans will be forced to prove they are well-behaved serfs to be able to do anything.

Dick Gregory Announces Hunger Strike for 9/11 Truth Dick Gregory | I am announcing today that I will be consuming only liquids beginning Sunday until my eightieth birthday in 2012 and until the real truth of what truly happened on that day emerges and is publicly known.

9/11 – State of Emergency: An Era of Madness and Despair The Excavator | All the freedoms of the American people that are being stripped by the U.S. government under national emergency are rationalized because of the terrorist attacks on September 11.

Doomsday warnings of US apocalypse gain ground Economists peddling dire warnings that the world’s number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.

Greek Default: Why It’s Only A Matter Of Time Is Greek default only a matter of time? According to the Council on Foreign Relations that’s the story the bond market is currently telling us.

Zionists are behind Quran desecration: Iran FM Iranian Foreign Minister Manouchehr Mottaki has described the Quran-burning plan as a Zionist-orchestrated scheme.

Google ‘damages users’ brains’ Google damages the brains of its users by offering too much assistance in solving problems, an author has claimed.

Feds Spent $800,000 of Economic Stimulus on African Genital-Washing Program The National Institute of Mental Health (NIMH), a division of the National Institutes of Health (NIH), spent $823,200 of economic stimulus funds in 2009 on a study by a UCLA research team to teach uncircumcised African men how to wash their genitals after having sex.

Ground Zero Mosque Controversy: A CIA Orchestrated Event Kurt Nimmo | The Ground Zero mosque event was designed to reinvigorate the manufactured Global War on Manufactured Terror.

Obama Touts Inefficient Program to Defend Stimulus: $1.4m per Green Job Created Activist Post | Only 390 jobs were created from the $548 million taxpayer investment, or about $1.4 million per job.

British troops in Afghanistan face heroin smuggling probe British military police are investigating claims that the country’s servicemen may have, with the americans, trafficked heroin out of Afghanistan, the Ministry of Defence in London said Sunday.

United States Joint Forces Command Warns that Huge U.S. Debt Will Lead to Military Impotence, Default or Revolution [ Little bit late for that … the warning thing! ] American military and intelligence leaders say that debt is the main national security threat to the U.S.

Korans vandalized in New York, Washington on 9/11 anniversary Two religious leaders at a recently-founded offshoot of the Baptist church burned Korans in a Tennessee back yard on the anniversary of the 9/11 attacks, reports the NBC affiliate in Nashville.

September 11 anniversary marked by noise and recrimination The September 11 anniversary is usually a day of quiet reflection. But this year the furore over plans for a mosque near Ground Zero led to a day of noise and recrimination.

Nine Years After 9/11, Only 1% See Terrorism as Top U.S. Problem Nine years after the terrorist attacks of Sept. 11, 2001, 1% of Americans mention terrorism as the most important problem facing the country, down from 46% just after the attacks.

Nine years, two wars, hundreds of thousands dead – and nothing learnt Did 9/11 make us all mad? Our memorial to the innocents who died nine years ago has been a holocaust of fire and blood.

When Will the Bad Dream End? Anthony Gregory | It has been nine whole years since 9/11, and it is starting to look like the “post-9/11″ insanity has become a permanent feature of the American landscape.

The Silence of September 11 Infowars.com | Silence has followed ever since the attack and continues until this day, as Peter Dale Scott explains.

Wikileaks to Release Massive Document Collection on Iraq War Ahmad F Al-Shagra | The Iraq War report is larger than the Afghan War documents made available for advance review to The New York Times, The Guardian, and Der Spiegel.

Pastor at centre of Koran-burning controversy flies to New York for September 11th The pastor who planned to burn Korans on today’s ninth anniversary of the September 11th attacks has flown to New York to challenge the controversial proposed Islamic centre close to the Ground Zero site.

Koran-burning pastor ‘has gone mad’ and ‘needs help,’ daughter says The estranged daughter of a Florida pastor who has threatened to burn copies of the Koran believes he has gone mad and needs help, she said in a German media interview conducted on Friday.

DHS: Another Attack Could Be On The Way “We can’t guarantee there won’t be another successful terrorist attack,” Napolitano will tell first responders and emergency workers.

We have failed, admits UN, as fresh wave of Congo rapes emerges The United Nations has been urged to go back to basics in protecting civilians in Eastern Congo after admitting that 500 rapes in the space of a single month amounted to a serious failure in its mission.

9 Years Later, Nearly 900 9/11 Responders Have Died, Survivors Fight for Compensation The victims of 9/11 are being remembered in many places around the world, Russia among them. Dozens have come to lay flowers at the US Embassy in the Russian capital.

“We’re dead men walking”: The toxic legacy of 9/11 More than 10,000 Ground Zero workers – known as “first responders” – are suffering from serious and even fatal illnesses after inhaling the toxic dust cloud caused by the crumbling towers.

Firefighter battles cancer he got from 9/11 toxins Nine years after the attacks of 9/11, many heroes from that day are still fighting for their lives. One of them is a firefighter, who is struggling to stay alive for his family.

Compensation for 9/11 First Responders to Be Revisited in Congress With the nine-year commemoration of the Sept. 11 terrorist attacks on the World Trade Center approaching on Saturday, thousands of victims, many of whom risked their lives to save others, are speaking out and saying that the government has abandoned them in their time of need.

9/11 responders demand justice Last month RT filmed this emotional footage of 9/11 first responders pouring their hearts out at a speech just blocks away from where the twin towers fell. The rally was in response to Congress defeating a federal bill that would have provided billions of dollars in health care for those sickened by toxins released by the collapse of the World Trade Center towers Sept. 11, 2001.

America’s Torture Doctrine John Galt | We idolize torturers in our favorite TV programs, and are happy to see our enemies (real and imagined) vicariously taken apart in order to protect our beacon of freedom.

The Anniversary of 9/11 Washington’s Blog | If even the 9/11 Commissioners don’t buy the official story, why do you?

`Drudgereport: Doomsday warnings of US apocalypse gain ground... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default...`

`REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...`
`Paul says GOP shares blame for deficits...`
`Kerry flip-flops on tax cuts...`

`Muslims protest Quran-burning plan...`
`Florida pastor calls it off...`
`Christians rip pages from Muslim holy book in front of White House...`
`Man ignites Quran near Ground Zero...`
`VIDEO...`
`Mosque opponents, supporters face off in downtown NYC...`
`OBAMA: 'We are not and never will be at war with Islam'...`

Unemployment Claims Not as Bullish as They Seem (Why?   Kudrna:‘The Labor Department reported Thursday morning that new claims for unemployment dropped a seasonally adjusted 27,000 to 451,000. Unexpected bullish news, right? The markets immediately gapped-up on this information as the bulls found good reason to buy. Unexpected positive news is almost always met with a bullish move north as it’s rarely priced in. However, a useful tidbit of information about that shockingly large drop came out after the gap-up. Bloomberg reported that nine states didn't file claims data to the Labor Department in Washington because of the Labor Day holiday earlier this week. California and Virginia estimated their figures and the U.S. government estimated the other seven. Coincidence in the large drop or not? We will see when the next revision comes out but usually those revisions fail to make headlines as we are already focusing on future claims. This has been a great cover-up method for a long time…’

How Government Reporting Will Intensify the Inevitable Simon Maierhofer, On Friday September 10, 2010, 12:41 pm EDT ‘Natural carbonation keeps a champagne bottle under constant pressure. The more you shake the bottle, the higher the pressure gets and the further the cork will eventually fly. Figuratively speaking, the government has been shaking the bottle. Watch out when the cork pops. On August 10, the Associated Press reported that the Federal Reserve has found a new trick to jumpstart the economy. Below is the full quote that shows why we probably can't expect unbiased assessments coming out of Washington, or the Fed's corner: 'The Federal Reserve policymakers are pondering ways to jumpstart the economic recovery. The trick: making sure whatever they do or say doesn't rattle Wall Street.' Some of the recent government statistics have been 'interesting' no doubt, and we know the administration has spent trillions in an attempt to lift the economy, but would it go as far as actually fudging statistics? We'll examine potential cases for 'data spiking' in a moment, but for now we'll take a look at one of the most popular government statistics, which is misleading to say the least.
GDP - Like a Flag in the Wind
GDP reports are prepared by the Bureau of Economic Analysis (BEA) and are a science all in itself. GDP reports are often revised. The 'advance' estimate is published at the end of the first month following the close of a quarter. In addition to the 'advance' estimate, there are first and second revisions called the 'preliminary' and 'final' estimates. The 'final' estimate is reviewed annually, usually in July. Once every several years, the BEA reviews all data back to 1929. On July 30, the BEA lowered Q2 2010 growth from an estimated 2.7% to 2.4%. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008 and it was lowered by 0.4% for 2009 (see chart below)[chart]. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8%, and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper and the alleged recovery much weaker than previously reported. Imagine if you would have based your 2007 and 2008 investment decisions on GDP reports. But wait, there is more. On August 27, the BEA lowered the Q2 2010 GDP growth from 2.4% to 1.6%. The financial media, however, applauded the reduction since the final 1.6 number was still higher than the 1.4% economists expected. Stocks rallied over 2% that day.
Unemployment Numbers - Not Deserving of Your Trust
Unemployment in August increased from 9.5% to 9.6%, but that's ok. Why? According to the financial media, the increase of unemployment was due to an increase in labor force. An estimated 6.6 million students will be graduating and joining the labor force this year. An increasing labor force is a reality, not an excuse to rationalize higher unemployment numbers. The real unemployment rate (U-6) reported by the BLS (but neglected by the financial media) jumped from 16.5% to 16.7%. Nevertheless, stocks rallied nearly 3% when unemployment figures were released on September 3rd. According to the BLS, the manufacturing sector lost 27,000 jobs in August. This, however, contradicts the positive August ISM manufacturing report, which rose from 55.5% to 56.3%. Here is the analysis from the Institute for Supply Management: 'A PMI in excess of 42 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the PMI indicates growth for the 16th consecutive month in the overall economy, as well as expansion in the manufacturing sector for the 13th consecutive month.' If you ask the unemployed, it doesn't feel like the manufacturing sector is improving.
Changing Rules to Accommodate Growth
Amidst the biggest financial meltdown since the Great Depression, the administration had to act quickly. The sheer amount of toxic assets overwhelmed the banking (NYSEArca: KBE - News) and financial sectors (NYSEArca: XLF - News), which led to the fall of Lehman Brothers and credit contraction around the globe (NYSEArca: EFA - News). It was impossible to eliminate trillions of bad loans or revive the ailing real estate market (NYSEArca: IYR - News). It was impossible to prop up faltering sectors like consumer discretionary (NYSEArca: XLY - News) and technology (NYSEArca: XLK - News). In short, it was impossible to change reality. It was, however, possible to change the prevailing perception and hide the root problems. In fact, it wasn't just possible; it proved to be fairly easy. The government simply urged the Financial Accounting Standards Board (FASB) to change some rules. On April 2, 2009, the FASB changed Rule 157. The ripple effect caused by massive real estate losses suffered by the 'too big to fail' banks (NYSEArca: IYF - News), as well as regional banks (NYSEArca: KRE - News), threatened the integrity of the entire system. The 157 Rule change allowed banks to park all their losses in a bucket called other comprehensive income (OCI). OCI appears on the balance sheet, but not on the income statement and thus does not affect earnings. In late 2009 and early 2010, banks exceeded their earnings expectations - at least on paper - which created the perception that the economy was recovering. As it turns out, the timing for the Rule 157 change was perfect and coincided with the biggest stock market rally in recent history. A 50%+ run in the Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) intensified the perception that the economy was on the mend. Before the accounting rule change and other government efforts, the ETF Profit Strategy Newsletter predicted the biggest rally since the October 2007 all-time highs. Via the March 2nd Trend Change Alert, the newsletter advised to close out previously recommended short positions (some gained 100% and more) and buy long and leveraged ETFs, many of which gained 50%, 100% or more.
Back to the Future
All was well until April 2010. Prior to the April highs, Mr. Bernanke, Mr. Geithner, and the President were campaigning for their fair share of credit for rescuing and reviving the country. Rather than examining and disclosing some of the government's questionable methods, the media jumped on the bandwagon and tickled the alleged 'saviors' egos. By doing so, the pressure in the champagne bottle was increased. More investors bought stocks under the mistaken view the economy had improved. This increased the pool of stock owners and the pipeline of sellers. As per the most recent GDP numbers, investors found out that the state of the economy is worse than previously thought. Furthermore, the government has lost credibility and some of its associated ability to inflate stock market confidence. Watch out, once the cork blows! Investors leaving the market could send prices falling as fast as champagne gushing out of a bottle. In fact, this exodus probably started already. On April 16, the ETF Profit Strategy Newsletter noted that: 'The cork seems to have popped. Reality is setting in. The pieces are in place for a major decline.' Following the April highs, the ensuing decline erased eight months worth of gains in a mere 22 trading days. An initial wave of somewhat critical media reports quickly faded as the stock market stabilized. Sideways trading tends to calm the nerves and get investors re-engaged before the hammer drops again. What's the moral of the story? Faulty government data and trend-following media reports tend to distort the real picture and postpone and intensify the inevitable.
The ETF Profit Strategy Newsletter combines the analysis of various indicators with common sense and out-of-the-box thinking to formulate a short, mid, and long-term forecast.’

Successful Economic Policies? For Whom? Last week, in the wake of another uptick in the official unemployment rate, the administration continued to claim that their economic policies were working, just not fast enough.

Can America Recover When The Majority Of Americans See A Double Dip, And Think The Country Is Fundamentally Broken? Earlier this week we asked, can the economy really recover when 92% of the population says the economy is garbage in a survey? That was the number in a WSJ/NBC poll, and it would seem to indicate a major headwind in terms of sentiment.

IMF Resumes Direct Gold Dumping, Sells 10 Tons Of The Shiny Metal To Bangladesh It has been a while since the IMF sold gold directly to sovereign countries.

Obama rating hits new low Overall, 41% of voters say they at least somewhat approve of the president’s performance. Fifty-eight percent (58%) disapprove.

The Anniversary of 9/11 Washington’s Blog | If even the 9/11 Commissioners don’t buy the official story, why do you?

Congressman Ron Paul Hints At 2012 Presidential Campaign Steve Watson | “It’s something I think about every single day.”

Hamilton and Kean Call for Domestic Terrorism Agency Kurt Nimmo | A bipartisan effort is underway to demonize patriotic Americans as domestic terrorists.

Doctors Giving Veterans Questionnaire to Determine Mental Illness Infowars.com | In 2007, a bill passed in the House and Senate allowing government to deny Second Amendment to veterans.

`Drudgereport: Thousands of Afghans protest Quran-burning plan...`
`Tennessee preacher to burn Quran...`
`Topeka, Kansas church vows burning...`
`Protester plans to burn on Wyoming's Capitol steps...`
`FLASHBACK: Muslims Burn Bibles and Destroy Crosses...`
`Ground Zero imam ignores pastor's two-hour deadline...`

`12 soldiers face trial after Afghan civilians 'were killed for sport and their fingers collected as trophies'... GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`
`'BETTER THAN EXPECTED'...`

`Treasuries Tumble Following Weak 30-Year Sale...`

U.S. drops in competitiveness ( Washington Post ) [ Fourth place for pervasively corrupt, defacto bankrupt america? I don’t think so; not in their wildest dreams, and there’s a lot of that in america these days, but little else. Reality says america’s place should be in the twenties at best. Previous: U.S. drops in competitiveness (Washington Post) [ Singapore, Sweden, … ? Don’t make me laugh! From defacto bankrupt, meaningfully lawless america’s perspective, this fallen ranking was a gift and one must be asking, what were they smoking (or whose money were they taking?) and is the rest of the world really that bad off? ] Large deficits and a weakened financial system make the U.S. less competitive in the global economy, according to World Economic Forum's new ranking.     Sweden Is A Better Place To Do Business Than The U.S. – [Well, that part is true, but …].   ‘…Sweden, by contrast, has “the world’s most transparent and efficient public institutions, with very low levels of corruption and undue influence.” Which loosely translated from wonk-speak sounds like, “You’re better off dealing with honest socialists than crony capitalists.”’ [ True enough, but I still don’t buy it (the rankings), especially america’s fourth place (as opposed to lower) ranking.]

Capitol Hill workers rack up back taxes ( Washington Post ) [ When you consider the pervasive corruption in their ranks and the redundancy / non-productive nature of government jobs, the case becomes irrefutably stronger for the abolition of same; particularly the lifetime appointees along with their plush accouterments, courts, etc.. Then there’s tiny tim geithner’s tax red flag, scofflaw hypocrit that he is. ] Capitol Hill employees owed $9.3 million in overdue taxes at the end of last year, a sliver of the $1 billion owed by federal workers nationwide but one with potential political ramifications for members of Congress.

Yeah! The lack of prosecutions and teeth therein has led to continued and bolder frauds and a complicit u.s. government! Stocks extend gains after drop in jobless claims [ Washington Post ] I was very disappointed to see this headline without disclaimer. Very disheartening.   [ It’s really quite amazing, and you won’t get this from the ‘money honeys’ or other mainstream drivel (actually I got this from the CBS news reporter, 1070am radio, but NOT their business report), the so-called better than expected jobs report (albeit bad at 451,000 continuing claims) was actually based upon federal government estimates for those reports that were not submitted owing to the holiday … and we all know how conservative the u.s. government is in making estimates, especially in election cycles when desperation abounds … riiiiight! (   `Drudgereport: GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`               `'BETTER THAN EXPECTED'...`      ) Then there’s the ‘need more capital’ news from among the strongest players in the European sector, viz., Germany’s Deutsch Bank, which can only mean, particularly in light of their adoption of the fraudulent wall street american mark to anything valuation of worthless paper, still out there in the many (hundreds?) of trillions. (see infra, ‘…ECB chief economist Jurgen Stark tells German MPs that the banking system is insolvent. This led to complete shock because the newspaper headlines from July suggested the opposite. The German policy establishment is under the illusion that its banking system is sound because it passed what turned out to be fraudulent stress test…’) Now, if the German banking system’s insolvent, is there a term for double, triple, quadrupal, etc., insolvent for what the american banking system must be? One doesn’t need clairvoyance to know that only bodes ill.   Stocks Cling to Skinny Gains, Can't Shake Banking Concerns   ]

The Eerie Implications of Market Volume and Mutual Fund Flows ‘… Here's a more compelling question: If two-thirds or more of daily volume is a function of high-frequency trading, what are the implications for index prices over the long haul? A year has passed since I posted some charts illustrating the incredible ratio of S&P 500 volume devoted to five financial stocks. Today's game is no doubt different from last September. It may be about making money, but it probably has little to do with investing — which may explain a lot about current volume metrics and mutual fund flows. I'll update these volume charts periodically in the months ahead.’

Report From Europe: Fall in U.S. Weekly Jobless Claims Cheers Stocks The Mole … Today is Rosh Hashanah, the jewish New Year, in which it is believed the names of the righteous are recorded in the book of life, those in the middle ground are given ten days to repent and become good, while the wicked are deleted from the book of life. In essence, it is make or break time for the year. One wonders if we might be entering a similar phase for Ireland with landmark decisions over the fate of Anglo Irish Bank taken (with the cost of the funeral to be know in early October) and the funding cliff for Irish banks to refund some €25bn of maturing debt this month pending (though I feel fears over their capacity to roll this debt is way overblown)…   Today’s Market Moving Stories

Figures showed that the July US trade deficit declined more than expected today and reached -$42.8bn. Thus, June’s spurt to $-49.8bn seems to have been a blip in the data. In July, total exports gained M/M 1.8 percent while imports decreased 2.1 percent. As for growth, foreign trade is still set to be a slight drag on GDP in 2010Q3. After all, imports started into Q3 on a very elevated level (and significantly above the 2010Q2 average). However, the drag will be much less than Q2’s -3.4pp.

While US initial jobless claims fell 27k to 451k last week. Claims moved sideways since the start of the year (the average since Jan is 466k), indicating that the improvement on the labour market did make scant headway. All in all, after a long spell of weak data, today’s releases offer some respite.

In a combative speech, Obama conceded his policies have “fed the perception that Washington is still ignoring the middle class,” was billed as a major economic address to unveil a new round of proposals to kick-start a flagging economic recovery. The president did introduce three new policy proposals the White House has been rolling out for nearly a week: $50 billion in additional infrastructure spending, a permanent and expanded research and experimentation tax credit and a measure allowing businesses to write 100 percent of their investment costs off their taxes through 2011. But Mr. Obama’s speech was far more about politics than economics.

ECB chief economist Jurgen Stark tells German MPs that the banking system is insolvent. This led to complete shock because the newspaper headlines from July suggested the opposite. The German policy establishment is under the illusion that its banking system is sound because it passed what turned out to be fraudulent stress test. Jurgen Stark is reported to have told a group of Christian Democrat MPs in Berlin that the German banking sector as a whole is undercapitalised. More controversially, he advised them to privatise the saving banks – the ultimate taboo because the savings banks are consider sacrosanct. FT Deutschland reported that Stark also relayed the assessment of US bankers that the German system could not conceivably survive the introduction of the tougher capital rules of Basel III.

Japan has no choice but to intervene in currency markets to prevent the yen’s strength from decimating the nation’s industry, Barclays Capital said. The yen reached 83.35 versus the dollar yesterday, the highest since May 1995, threatening Japan’s export-led recovery. Industry and jobs won’t likely return from abroad even if the currency weakens eventually, and that prospect may force policy makers to intervene “in the immediate future,” said Tetsufumi Yamakawa, co-head of Japan research at Barclays. “If the yen’s strength lasts at current levels, factories, investment and jobs will all move overseas,” Yamakawa said at a forum in Tokyo yesterday.

Australian job growth exceeded forecasts in August, sending the unemployment rate down to 5.1% and driving the nation’s currency higher on speculation the central bank will resume raising interest rates. Employers added 30,900 workers in August, exceeding the median forecast for 25,000 in a Bloomberg News survey of 25 economists, the statistics bureau said in Sydney today. The jobless rate matched the lowest level since January 2009…

Worth a read: Michael Lewis has a field day: Beware of Greeks Bearing Bonds (Vanity Fair)

Tiny tim geithner Says China Needs to Let Market Drive Up Yuan Bloomberg | U.S. Treasury Secretary Tiny tim geithner said China must let the yuan rise more quickly to show trading partners that it’s following through on its promises [ Riiiiight! … Everyone’s just clamoring for american advice on the global meltdown precipitated by ‘american advice and consent’.]

Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 Matthias Chang | Quantitative Easing spearheaded by the Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

“I Am Jim Cramer And I Approve Of The President’s Message (Because The Market Moved Up By 3 Points)” There are women (and men) who will do anything for a price. Then there is Jim Cramer.

Jim Sinclair: Strap In For Gold’s Move To $1650 By January Now that expectations for Gold at very significant prices are being offered by various rational sources, there is one thing you can be sure of. That one thing is $1650.

Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.

Castro Admits Communist Economics a Failure

Pastor Terry Jones Calls off Koran Burning, Ground Zero Mosque May Be Moved Pastor Terry Jones today canceled his plan to burn Korans at his Florida church after claiming he has struck a deal with a New York Muslim cleric to relocate the so-called Ground Zero mosque.

UN Blueprint: Dismantle Middle Class, Build World Government A UN blueprint for putting the organization back at the forefront of global governance alarmingly reveals the agenda to re-brand global warming as “overpopulation” as a means of dismantling the middle classes while using “global redistribution of wealth” and increased immigration to reinvigorate the pursuit of a one world government.

US soldier ‘kept Afghan body parts’ At least two of the five US soldiers charged in the deaths of three Afghan civilians had kept body parts taken from Afghan corpses and threatened subordinates, according to new documents released by the US army.

Random Pat-Downs Turn PATCO Into Police State “We can conduct any kind of search we want,” said McClintock. “We could ask TSA to bring wands or X-ray machines like they have in airports, though we don’t think that’s appropriate for PATCO riders at this time.”

Gerald Celente Calls Out General Petraeus On Koran Warning Hypocrisy “You hear someone like General Petraeus saying burning the Koran could be dangerous to American troops – hey General Petraeus – how about invading Arab countries and occupying them and killing innocent people? You think that could be dangerous to American troops? Oh no no, our foreign policy has nothing to do with this – they don’t like Americans because we go to Disneyland and shop at Walmart.”

Ground Zero Mosque Imam: If You Don’t Build It, They Will Attack Moving the project to another location would strengthen Islamist radicals’ ability to recruit followers and will likely increase violence against Americans, the imam said.”

Clinton Talks World Government at the Council On Foreign Relations Kurt Nimmo | Simply substitute the phrase “American leadership” with “leadership by the globalist cabal.”

Barack Obama: Puppet on a String Jurriaan Maessen | The United States is unfolding an agenda that has been pushed for by international banks in conjunction with the CIA.

Business as Usual: Fed Court Slaps Down Torture Lawsuit Against CIA Kurt Nimmo | Once again, national security trumps the rule of law and the corporate media provides cover.

UN Blueprint: Dismantle Middle Class, Build World Government Paul Joseph Watson | Globalists set out agenda to re-brand global warming as overpopulation in bid to impose carbon taxes.

Claims of Recovery But Results Nowhere To Be Found Bob Chapman | The American public is alarmed at what they see going on.

`Drudgereport: GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`
`'BETTER THAN EXPECTED'...`

`Treasuries Tumble Following Weak 30-Year Sale...`

600 Lockheed execs take buyout (Washington Post) [ Talk about having your fingers on the economic / fiscal pulse of the nation. This should be a new leading economic indicator which, unlike many of the others, is less prone to manipulation. All hail, the ‘golden goose’ is dead! `Drudgereport: MORGAN STANLEY: U.S. Government Bond Defaults Inevitable …`    This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ] The move reflects a shift underway as defense contractors scramble to prepare for Pentagon budget cuts.

Reform's unexpected fallout (Washington Post) [ Riiiiight! That reform thing … everything but prosecution of the perps who are back to their churn and earn ways as some of their worthless paper moving ways have been legislatively sanctioned / adopted in the form of mark to anything valuation of worthless assets / paper which debacle is waiting to rear that ugly head! ] Nation's battle for regulatory reform wasn't supposed to have this kind of collateral damage. But the new law is threatening the existence of a day-care center, which has operated for 24 years in the District.

U.S. drops in competitiveness (Washington Post) [ Singapore, Sweden, … ? Don’t make me laugh! From defacto bankrupt, meaningfully lawless america’s perspective, this fallen ranking was a gift and one must be asking, what were they smoking (or whose money were they taking?) and is the rest of the world really that bad off? ] Large deficits and a weakened financial system make the U.S. less competitive in the global economy, according to World Economic Forum's new ranking.

Afghans question U.S.-style capitalism (Washington Post) [ As indeed they should inasmuch as the same is neither capitalism nor american style in the traditional sense referenced here. Defacto bankrupt, in decline, and pervasively corrupt, meaningfully lawless america is a nation unworthy of emulation! ]   Kabul Bank became the pride of Afghanistan's financial system by offering the conveniences and thrills of 21st-century capitalism. But the scene outside the bank's headquarters Wednesday was far from that modern ideal.

Fed sees widespread slowdown of growth (Washington Post) [ Stocks rally anyway … the ‘miracle of computerized programmed trading’ even if the math and fundamentals don’t add up …

Bad Math - Why The Bullish Case Doesn't Add Up Simon Maierhofer, On Wednesday September 8, 2010, 3:19 pm EDT
1+1=2     2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation? Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices
Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As we've seen in January and April of 2010, positive earnings reports are not bullish for stocks, especially if future guidance is weak.
2+2=5 or Weaker than Expected Economy = Rising Stock Prices
On July 30, the Bureau of Economic Analysis (BEA) lowered the Q2 Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. On August 27, the Q2 GDP was lowered further to a jaw-dropping 1.6%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?
3+3=7 or Positive Analyst Estimates = Higher Stock Prices
A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Direxion Daily Financial Bull 3X Shares (NYSEArca: FAS - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News).

If you care to know, until recently, analysts estimated that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?
4+4=9 or Technical Sell Signals = Higher Stock Prices
The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. [chart] In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).
5+5=11 or Overvalued Stocks = Higher Prices
As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped and overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market bottoms. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.

Report From Europe: Panic Amongst the PIIGS (Seeking Alpha – The Mole) [ Sounds far from hunky-dory to me and as the wall street frauds would have you believe and used as a rallying point this day. Total b s! ] ‘U.S. stocks fell for the first time in five days Tuesday, ending the longest streak of gains for the S&P 500 Index since July, on concern the European debt crisis may worsen and hamper global growth. Bank of America (BAC) and Citigroup (C) fell at least 2% as European banks slid on concern stress tests understated potential losses from sovereign debt. Meanwhile ConocoPhillips (COP) and Chevron (CVX) slumped more than 1.2% as crude oil fell the most in a week. But Oracle (ORCL) rallied 5.9% after naming Mark Hurd, former chief executive officer of Hewlett-Packard (HPQ) as president. Today, despite some token buying by the ECB and a decent Portuguese bond auction, the bond vigilantes have again been out doing their worst pushing the Irish / German 10 year spread out to levels not seem since 1988 when the debt GDP ratio was 118% . Indeed yesterday saw the worst single daily performance by Irish Government bonds ever in terms of spread widening. Greece is also back in the crosshairs in response to a downward revision to Q2 Greek GDP to -1.8% from -1.5% originally, and on news the National Bank of Greece plans to raise Eur2.8 bln of capital. The latter may be especially alarming in the current environment, but really reflects a desire for extra security and also a cash hoard to potentially spend on weaker rivals. ATEbank stands prominently in this respect. (picture)
Today’s Market Moving Stories
The stand-out mover in FX today was GBP, which rallied sharply, largely it would seem on news that Vodafone (VOD) has sold its stake in China Mobile and intends to use 70% of the proceeds (£4.2bn) to fund share buybacks. The macros community had started to build GBP shorts in recent days and this M&A flow prompted a flurry of short-covering, assisted as well by better than feared Halifax house price data.
Irish Banking
According to the Irish Times this morning, the bank’s chairman has stated that a statement on Anglo should be expected today. Who will make it or what the nature of the announcement will be is not evident, but keep eyes peeled around 4pm. Recent media reports have indicated strongly that an orderly wind down of the bank over 10-15yrs is the new preferred option. But what the markets are really looking for is an update on the total FINAL bottom line kitchen sink cost of the bailout and whether its closer to Eur 25bn or S&P’s recent & much criticized Eur 35bn figure. UPDATE – SEE VERY BOTTOM OF THIS POST. Bloomberg reports that private equity heavyweight J.C. Flowers and three other bidders for Ireland’s EBS Building Society may buy and merge several lenders to create a new competitor to the country’s biggest banks, two people familiar with the situation said. J.C. Flowers., the U.S. buyout firm, Dublin-based Cardinal Asset Management, backed by U.S. private equity firm Carlyle Group, and Doughty Hanson & Co. are vying with Irish Life & Permanent Plc (ILPMF.PK) to take control of EBS, said the people who declined to be identified. Each of the bidders said in talks that they plan to merge EBS, the country’s biggest customer-owned lender, with other building societies. That would create a new rival to Bank of Ireland Plc (IRE) and Allied Irish Banks Plc (AIB), the country’s biggest lenders. EBS and the National Treasury Management Agency, which is overseeing the sale, will probably select a preferred bidder or two short-listed bidders next week, according to one of the people.
Japan
Japanese Finance Minister Yoshihiko Noda said he is prepared to take “bold” action on currencies, including intervention in foreign-exchange markets, after the yen reached a 15-year high against the dollar. “We will take bold action if necessary and naturally that can include intervention,” Noda told lawmakers in parliament today. “We have to use every option available as a strong yen is likely to have a severe impact on companies.” The yen rose to 83.52 per dollar yesterday, the highest level since June 1995, as concerns about weakening growth in the U.S. and Europe bolstered the currency’s appeal as a refuge.
UK Outlook
A U.K. index of hiring for permanent jobs in August showed the slowest growth pace in 10 months, KPMG LLP and the Recruitment and Employment Confederation said. The gauge of full-time job placements dropped to 56.3 from 60.2 in July, the groups said in an e-mailed report today in London. That’s the slowest pace since October. Readings above 50 indicate an increase in hiring. The U.K. is bracing itself for a period of austerity as Prime Minister David Cameron pledges to reduce the country’s record budget deficit. U.K. shop price inflation accelerated in August as the price of food rose at the quickest annual pace in over a year, a survey showed Tuesday. Total shop price inflation was 1.7% on the year in August and 0.1% on the month, compared with a 1.5% annual rate and 0.1% monthly decline in prices in July, the monthly survey by the British Retail Consortium showed. That was due to a more-than-one percentage point rise in the cost of food. Food prices were 3.8% higher in August than a year earlier, while food prices rose 0.2% from July. And July’s UK industrial production figures suggest that the manufacturing sector continues to enjoy steady, if unspectacular, growth. The 0.3% rise in manufacturing output was the third such gain in a row and pushed the yoy rate of output growth up to a new cycle high of 4.9%. Overall industrial production saw a similar monthly gain. For now, then, the output data are defying the rather gloomier tone of some of the recent industrial surveys, such as last week’s CIPS report on manufacturing. But it is worth remembering that the surveys normally lead the hard data by a few months, so it would be no surprise if output growth were to start to weaken over the next few months. And even if output posts similar increases in August and September, industry won’t make as strong a contribution to GDP growth in Q3 as it did in Q2. Overall, UK industry is still doing pretty well, but it may not last too much longer. (picture)

Company / Equity News

UK homebuilder Berkeley Group has issued an interim management statement this morning covering the period from 1st May 2010 to 31st August 2010. The group pointed out that demand for properties over the period has been resilient, particularly in London which has a shortage of supply and specific demand from international purchasers. Outside of London, which is more reliant on the UK domestic economy, a lack of credit availability and weak consumer confidence is weighing on transactions currently.

Barratt Developments also reported full year results this morning. The group reported a full-year loss of £118.4m compared to a loss of £468.6m. Market expectations were for a loss of £125m. Revenue declined by 11% to 2.04bn with the group selling 11,377 homes during the period, compared with 13,277 last year. The group’s operating margin increased to 5.9% from 1.8% a year earlier. The group expects a ‘modest’ increase in average selling price this year, however the group noted that the outlook for new housing ‘remains challenging’. For clients looking for exposure to a UK home builder, Persimmon is my preferred play.

Securities firms (investment banks) around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, said Meredith Whitney, the former Oppenheimer & Co. analyst who now runs her own firm. The reductions, about 10 percent of current levels, will come after 2010 compensation payments. “The key product drivers of Wall Street’s revenues and profits over the past decade have been in a structural decline over the past three years,” Whitney said in the report. “2010 marks the first year in many in which Wall Street-centric firms will go through structural changes.”

Vodafone’s $6.6 billion sale of its stake in China Mobile Ltd. is the biggest divestment since Chief Executive Officer Vittorio Colao took charge in 2008. Investors want to know what’s next. Vodafone sold its 3.2 percent stake in China’s largest mobile phone company today. About 70 percent of the proceeds will be returned to shareholders through a stock repurchase and the rest will be used to pay down debt, Newbury, England-based Vodafone said in a statement yesterday.

Nokia Oyj, the world’s biggest maker of mobile phones, has a lot riding on its annual showcase event next week as it tries to claw back lost ground to Apple Inc.’s (AAPL) iPhone and devices based on Google’s (GOOG) Android software. The Finnish company is likely to focus attention at Nokia World in London on its high-end Symbian smartphone line, including the touch screen N8, its latest effort to take on Android and iPhone handsets.

Google’s CEO Eric Schmidt said the company plans to extend its Web television service from U.S. viewers to global consumers in 2011. Google has an agreement with Sony Corp. (SNE) to launch Web TV in the U.S. this fall, while Samsung Electronics Co. (SSNLF.PK), the world’s largest television manufacturer, said today it may make sets run by Google’s software to compete with Sony and Apple Inc. in the market for TVs that access movies, shows and games online.

The life of Germany’s nuclear power plants will be extended by up to 15 years under a deal agreed between energy companies and the government of Chancellor Angela Merkel. Germany’s energy giants will pay [euro]15 billion to fund research into renewable energy and Berlin will, in return, set aside a 2000 agreement forced by the Schroder government to wind down all nuclear energy plants by 2025.

According to the FT, Ryanair (RYAAY) may return to the market for a purchase of up to 300 airplanes, the Financial Times said late Tuesday, citing an interview with chief executive Michael O’ Leary. O’Leary told the FT his company also plans on writing to aviation authorities asking to use a single pilot for short-haul flights, the report on the FT website said.

Evidence emerged yesterday that the strained relations of late between Tullow (TUWOY.PK) and the Ugandan Government over the issue of tax arising from the Heritage Oil transaction eased somewhat based on comments attributed to the Energy Minister. Questioned on the Government stance regarding the recently rescinded Kingfisher licence in Block 3A and Tullow’s ability to redress the situation, the Energy Minister appeared to soften the Government position indicating a favorable response should Tullow apply.

Dana Petroleum (DNPXF.PK) offered a strong defence this morning against the unsolicited offer of £18 per share from the Korean National Oil Company (KNOC) and also announced the widely anticipated acquisition of Petro-Canada’s UK assets for a cash consideration of £240m ($372m).

And finally UPDATE – Text of announcement on Anglo Irish
The Minister for Finance today briefed his Government colleagues on the strategic options for the future of Anglo Irish Bank. The Minister conveyed to the Government the views of the Board of Anglo Irish Bank, the Central Bank, the National Treasury Management Agency, the Department of Finance, the EU Commission and his own assessment of the position.The Government decided that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised in early 2009 and this will remain the case. It is intended that in due course the Recovery Bank will be sold in whole or in part or that its assets will be run off over a period of time. The guaranteed position of depositors will be unchanged by the new arrangements and no action is required of them as a result of today’s announcement. The depositors will become customers of the Funding Bank which will be fully capitalized and continue as a regulated bank. In order to restore the reputation of the Irish Financial System it is essential to bring finality to the problem of Anglo Irish Bank – our most distressed institution. The Government’s primary objective in dealing with Anglo Irish Bank has been to minimise the cost of this distressed bank to the Irish taxpayer. The Board of Anglo Irish Bank submitted its preferred option to the Minister and to the European Commission at the end of May for consideration under State Aid rules. The board’s plan envisaged splitting the bank into an asset management company and a new good bank. The asset management company would have managed out over time the bank’s lower quality assets remaining after the transfers to NAMA. The new good bank would have managed the remaining share of the loan book, retained the bank’s deposit funding and sought new lending opportunities to grow the bank. The Minister acknowledges the good faith and hard work of the board in producing a credible proposal for the future of the bank. However, the Government has concluded that this plan in its current form does not now provide the most viable and sustainable solution to ensure the continued stability of the Irish banking system.
Resolution Proposal
In these circumstances, the Government has decided to opt for a variation of the board’s restructuring proposal. The Government’s decision does not affect existing guarantee arrangements. Under the restructuring plan, the Funding Bank will be a Government-backed/guaranteed specialist deposit bank which will contain the bank’s deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the Minister for Finance. This bank will not engage in any lending, but will provide a secure home for Anglo’s depositors and any new customers who wish to deposit their funds with it. Depositors with the Funding Bank will be completely insulated from the future performance of the rest of the current Anglo Irish Bank loan book. The Asset Recovery Bank will also be a licensed regulated bank. Its dedicated focus will be on the work-out over a period of time of the assets not being transferred to NAMA in a manner which maximises the return to the taxpayer.
Costs
The Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank will determine the appropriate levels of capital needed in both institutions. Its decision will be announced by October.
EU Commission
The Department of Finance has conducted intensive discussions with the EU Commission in recent weeks about the future of Anglo Irish Bank. The Minister for Finance met Commissioner Almunia last Monday to discuss the issue. A formal detailed plan is being prepared for submission to the Commission for approval.
The Minister said: “Today’s decision by the Government will provide certainty about the future of Anglo Irish Bank. Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system.”
8th September 2010
ENDS
Brian Meenan
Press Office
PH: 6045875
email: [email protected] ‘

Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

So Broke We Can’t Pay Attention Howard Beale | You spent the whole day yesterday worrying about today, and now that it’s here, was it worth it?

The Financial Industry Is A ‘Gigantic Parasite’ We Don’t Need Anymore Vincent Fernando | Strong words from ex-Morgan Stanley Andy Xie.

Beige Book Picture Shows Growth Slowing, Stocks Down From Highs

Fidel Castro says Cuban model doesn't work (AP) Fidel Castro told a visiting American journalist that Cuba's communist economic model doesn't work.

Deflation Never Had A Chance What the deflationists fail to acknowledge is that in a purely fiat monetary system deflation is a choice not an inevitability. To put it in simple terms, if a government is willing to sacrifice its currency there is absolutely no way deflation can take hold in a modern monetary system.

There Are Now Enough Vacant Properties In China To House Over Half Of America On the assumption that each flat serves as a home to a typical Chinese family of three (parents and one child), the vacant properties could accommodate 200 million people, which account for more than 15% of the country’s 1.3 billion population.

`Drudgereport:` `BLIAR BUSTED: Former UK PM's autobiography includes dialogue from meeting with 'Queen' -- taken from fiction movie! Developing...REV: THE BURNING WILL PROCEED...`
`'Meant to Be a Warning'...`
`Vatican: 'Outrageous'...`
`NYPD: 'Dangerous'...`
`Holder: 'Idiotic'...`
`Clinton: 'Disgraceful'...`
`Palin: 'Unnecessary provocation'...`
`FBI: Retaliation 'Likely'...`

`Petraeus Speaks Out on Quran Burning...`
`Endangers Troops...`
`Pastor Says Church Not Deterred...`
`Hartford City Council meetings to begin with Muslim prayers...`
2 SOLDIERS KILLED IN IRAQ, 9 WOUNDED*

`ADDICTED TO STIMULUS: $50,000,000,000 MOREDems wary of WH's huge new spending plan...`
`Obama takes aim at Boehner...`    `'They talk about me like a dog'… [ If the shoe fits ...`     President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.” ]

`'They talk about me like a dog'...`
`FLASHBACK: President-Elect Obama: Mutt 'Like Me'... 'Even liberal elites concede that Obama's presidency is crumbling'...`
`BARONE: Sinking with Obama, Democrats plan political triage...`

`Muslims Protest Plans to Burn Quran...`
`'Death to America'...`

`Fears rise as EU nations aim to raise borrowing... Roubini: More than 400 US Banks Will Fail...`

`'COMBAT OVER': US TROOPS BATTLE IN BAGHDAD...`

Why the Furious Bear Will Come Back - Simon Maierhofer, On Tuesday September 7, 2010, 4:34 pm ‘The Top Ten List has become a staple of David Letterman's Late Show. We don't quite have the space to discuss ten reasons why the bear market isn't over (if we did, we'd probably put you to sleep), but we'll take a crack at a Top Five List. Without further ado, here it is:

#1: Forget About Earnings

Using past earnings numbers to project future performance is like basing your Roulette bet on the numbers that won previously… [chart]

#2: Budget Deficits

The 2011 U.S. deficit projection for 2011 was raised from $1.2 trillion to $1.4 trillion...

#3: Banks - Nothing but Fluff

…Fundamentally, however, nothing had changed… 'The house of cards was much bigger and started to stretch beyond Wall Street…The government postponed the collapse of the 'whole deck' thus far. As of recent, however, some disturbing information has surfaced. Bank of America admitted to hiding bad assets and Goldman's 82% profit drop shows that the days of fat trading profits - such as seen in Q3 and Q4 2009 and Q1 2010 - are over… It doesn't take an economist to know that taking money from your savings account and transferring it to your checking account can't be counted as income.

#4 Real Estate

In late July, the market allegedly rallied because new home sales jumped 24% to 330,000 units in June. We feel the urge to put this number into perspective. May sales were revised from an original 300,000 units to 267,000 units - this is an all-time low. Bouncing off from the lowest level on record, new home sales did indeed increase 24%. Is that reason to celebrate though? Chances are the 330,000 will be revised lower in the future. Regardless, 330,000 homes sold pales in comparison to the 1.4 million homes sold in 2005.The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale and vacation homes, reached 18.9 million. It shouldn't be too long before those bleak fundamentals are reflected in the performance of real estate ETFs like the iShares DJ US Real Estate ETF (NYSEArca: IYR - News) and SPDR DJ REIT ETF (NYSEArca: RWR - News). ..

#5: Consumer Confidence

During periods of economic expanse the Conference Board's Consumer Confidence Index has averaged a reading above 100. Recessions average a reading of 71. The current confidence reading is at a dismal 50.4. The chart below paints this sad picture. [chart] Consumer spending is said to make up about three quarters of the economy. How can the economy recover without participation by the consumer? It can't. That doesn't mean stocks can't rally temporarily. Such a disconnect between the economy and Wall Street's dream world tends to be short-lived.

Sentiment Confusion

… More importantly though, the optimism surrounding the April highs is indicative of a major market top, a top that implies a decline much deeper than the 20% we've seen thus far. This conclusion is certainly supported by the above-mentioned Top Five list and many other indicators…

‘We are still determined’: U.S. pastor vows to carry out Burn-a-Koran day on Sept 11 despite death threats As Gerald Celente said on the show today, General Petraeus’ comment that burning the Koran could upset Muslims is the height of hypocrisy. Did Petraeus ever consider the notion that bombing and occupying their countries also wouldn’t go down too well? This whole issue is about manipulating us into a helter-skelter race war as a distraction from the economic collapse and to rally the country around another war in the middle east.

NYPD Top Cop: Planned Quran Burning Is “Dangerous” [ I personally wasn’t going to comment on this and let others draw than own conclusions; especially, as pointed out by Celente, when america’s been bombing and killing civilian muslims in droves, based on lies, and even for drug trade pre-eminence, etc.. After all, it’s not too difficult to dredge up memories of other historical book-burners, ie., that Austrian house-painter with a brush mustache, etc.. But really, isn’t this guy jones a neo-con dream come true? I think he’s just a publicity seeking, mentally unbalanced dummy. He even looks a bit like john bolton. But, in america, mental unbalance has become the new normal. ] Police Commissioner Ray Kelly sided with Gen. Petraeus last night, calling a planned burning of Qurans on the anniversary of Sept. 11, “unwise” and “un-American” during the 9/11 Museum and Memorial’s fundraising dinner at Cipriani Wall Street in Manhattan Tuesday night.

TSA Plans to Use Homeboy in Ball Cap “Avatar” on Naked Body Scanners Kurt Nimmo | Scheme ignores the obvious health risk of radiation technology.

9/11 Truth is Still the Issue James Corbett | Where does the 9/11 Truth Movement stand and where it is heading?

50 Mind Blowing Facts About America That Our Founding Fathers Never Would Have Believed The Economic Collapse | The United States is a much different place today than it was in 1776, and unfortunately many of the changes have been for the worse.

Al-Qaida and Taliban threat is exaggerated, says security thinktank Guardian | Strategy institute challenges idea that troops are needed in Afghanistan to stop export of terrorism to west.

Rioters Attack LA Police Station After Death of Immigrant New York Daily News | Hundreds of demonstrators took to the streets for the second night in a row in downtown Los Angeles Tuesday night to protest the police shooting of a

Petraeus: Neocons favorite general Russia Today | Ten Afghan civilians were killed Thursday in a NATO air strike on three vehicles carrying civilians, President Hamid Karzai said in a statement.

Obama infrastructure proposal may hit election year wall (Washington Post) [ It has nothing to do with the election at this point, although the motivations for same are suspect. It’s really a matter of political capital; and wobama has NONE! Zero! Zed! Nada! He’s totally and unequivocally, DONE! ] What seems virtually certain is that the proposal for initial spending of $50 billion on planes, trains and automobiles most likely will wait until next year.

Obama to unveil more stimulus, tax breaks for business (Washington Post) [ It really is quite astounding how quickly the tides have changed against wobama. The amazing thing is that as president he had the easiest act in the world to follow; viz., dumbya bush. He blew that royally. How? Why? Make no mistake, wobama is as over as over can be. Even his dem compatriots are saying of this desperate act … too little, too late. And yet, this truth is seen from their limited perspective only with regard to the election, when in fact, this is as true economically as it is long-term for the nation. All he had to do was what he said he would do; and, that especially applies to the self-destruct, ill-advised ramped up war spending in Afghanistan. Wobama is undoubtedly the biggest b* s* artist in the history of this nation and really bought his own failure by not remembering what got him elected in the first instance in terms of popular vote (the ultimate source of electoral victory a point for reflection in light of ever more evident quid pro quos, ie., no wall street prosecutions, ramped up war spending, etc..]

To consumer advocates, antitrust enforcement lacking (Washington Post) [ Unfortunately, at least for those who still care, america’s long past the glory days of the trust-busters. In fact, america’s long past the days of any meaningful law at all. See infra, RICO Summary to FBI Under Penalty of Perjury, which includes how sam alito as u.s. attorney parleyed cover-up and obstruction of justice et als into fed.ct.appeals and u.s.supreme court lifetime appointments. The corruption’s incredible but very real. ] The Justice Department's antitrust division has yet to exercise its signature power: to bring a case against a corporate titan suspected of abusing its dominance.

Pearlstein: The bleak truth about unemployment (Washington Post) [ When I saw this headline I felt certain that Mr. Pearlstein would be discussing the reality that the real unemployment rate exceeds 20% with that ‘stopped looking’ fudge factor removed as merely a convenient subterfuge. But, alas and lamentably, I was wrong. To be sure, Mr. Pearstein’s topic is important and probably more optimistic than anyone deserves to be in light of some grim realities that most dare not mention with the defacto bankrupt nation just barely surviving on that wonder drug called hopium (see infra, DeCiantis: ‘Students of behavioral finance must have had a field day this past week. In the wake of a month of dismal economic reports, Wall Street got its risk on with a few better than expected reports on manufacturing sentiment, home sales, and employment. Hopium, it appears, is a powerful drug. [ HOPIUM … YEAH! I KIND OF LIKE THAT METAPHOR WHICH RINGS TRUE! ] ). As for Mr. Pearlstein’s ‘how to make the american economy competitive again.’, I liken this Gordian knot of a problem to one for which magic mushrooms, along with hopium, are as far as reality will permit in terms of even imagining such could possibly be the case. You cannot unring the bell on the irrevocable structural changes wrought by the greediest, most corrupt, and, though often wrapped in the flag, treasonous, lawless elements of american society; governmental, quasi-governmental, and private business (which included the necessary technology transfers). That’s reality! ]

September: In Like a Lion, Out Like a Lamb DeCiantis: ‘Students of behavioral finance must have had a field day this past week. In the wake of a month of dismal economic reports, Wall Street got its risk on with a few better than expected reports on manufacturing sentiment, home sales, and employment. Hopium, it appears, is a powerful drug. [ HOPIUM … YEAH! I KIND OF LIKE THAT METAPHOR WHICH RINGS TRUE! ]

Economists spent August cautiously lowering their outlook for the second half of the year as Obama's "recovery summer" failed to bear fruit, the Federal Reserve failed at both of its twin mandates (stable prices and full employment), and bullish analysts failed to convince investors that the market was ready to climb to fresh highs. As a result, stocks ended the worst August in nine years with rising calls for stimulus and fears of the dreaded double-dip.

Then came September. In like a lion, surging nearly 3% on the first trading day of the month on the heels of a better-than-expected survey by the Institute for Supply Management of the manufacturing industry. Representing (statistically speaking) nearly 30% of the US economy, the number was expected to fall after a series of similar Fed surveys from around the country indicated that American heavy industry -- that engine of growth over the last two quarters -- was finally loosing steam. Instead, it leapfrogged every estimate on The Street to post its first advance since May. Granted the rise was modest, but the surprise factor flipped the all-important risk switch and a reinvigorated camp of bulls poured back into the market, convinced that their creeping suspicions about a slip back into recession were all just a bad dream.
[chart]

Outside of a few trading irregularities, the data itself forced the bears to take pause and reflect on the substance of the report. The economics team at Goldman Sachs may have summarized it best:

"Without question, the report was better than expected...[but] the details of the report actually reinforce the case for further slowing in this sector. As shown in Exhibit 2, the gap between the indexes for new orders and inventories, an important lead indicator of movements in the composite index and in industrial production, almost disappeared in the August report. As recently as May, this gap was a robust 20.1 index points. The clear—if uneven—downward trend in this indicator actually strengthens the case for a decline in the composite index in coming months. The bottom line: US manufacturing output may still be expanding, but the risk that these goods are winding up on the shelf has increased."

More telling, however, was the dissection by semi-permabear David Rosenberg that helps to put the August print into context:

In a nutshell, ISM did smash consensus expectations in August but the composition left much to be desired. The coincident indicators firmed but the categories that actually lead manufacturing activity softened across the board.

As we said at the outset, the ISM index was at complete odds with the regional surveys. Philadelphia, New York, Milwaukee, Richmond and Kansas City were all down. Dallas and Cincinnati were up. In the past, when we had a 5-to-2 ratio to the downside, the share of the time ISM managed to eke out an advance was 4%.

It would be wise to lean against the market's initial dramatic reaction to this data. The ISM orders/inventories ratio is a decent leading indicator and it sank to 1.033x from 1.065 in July. 1.278x in Julne and 1.441x in May. The hidden nugget in today's report is that this ratio has decline to levels not seen since February 2009. And the last time it fell this fast to this type of level was in the September to December 2007 period (1.03x from 1.30x) when once again, there was tremendous confusion and intense debate over whether it was a recession/soft patch in the economy and the bear market/corrective phase in equities.

Suffice it to say that in the past 30 years, with eleven observations, ISM dropped to 47x in the three months after such a decline in the orders/inventory ratio to such a low level as is the case today. That is the average, the median, and the mode. The highest ISM reading three months hence was 51.9, so if past is prescient, today's data was likely a huge headfake.

[chart] The ISM report also overshadowed another important data release on construction, but we'll get to that later. The next feather in the bulls' cap was a pair of data points on residential real estate -- the sick dog of nearly every major developed economy in the G8. The first revealed a rise in July pending home sales (5.6%) after a precipitous drop in May (30%) and a further drop in June (2.6%) as an $8,000 tax credit expired. Analysts collectively expected a drop of 1%. Needless to say the markets were pleasantly surprised.

A closer look at the data reveals two key narratives not captured by the popular media or trading desks. First, it's important to contextualize the "rise" in pending sales by looking at a longer time series that tells the same story (this particularl series only goes back to 2005). The graph below speaks for itself.

[chart]

Second, the reported data may suffer from a disease common to many of the economic statistics released every day: Seasonal Adjustment Disorder (SAD). Given the inherent seasonality of the home buying cycle (higher during the summer when kids aren't in school, lower in winter when the weather is less than ideal for moving) economists at the National Association of Realtors make adjustments for these factors to make monthly comparisons easier. However, that can sometimes mask changes in the raw data, as was the case with the August NAR release. As Rosenberg suggests:

While the increase in pending home sales is encouraging, we did dig through the data and found that the not seasonally adjusted numbers (the raw numbers) fell by 7%, with declines across the country. This makes sense as July is usually a slower month for homebuying activities.

We wonder if there is a chance that the seasonal adjustment factors could be overstating the monthly increase given that we have seen such huge volatility in the housing numbers in the recent year making the seasonal adjustment process more difficult. Recall that Standard and Poor’s issued a note about the Case-Shiller home price index saying that “the turmoil in the housing market in the last few years has generated unusual movements that are easily mistaken for shifts in the normal seasonal patterns, resulting in larger seasonal adjustments and misleading results.

Another data point that drew a lot of bullish attention was Tuesday's housing release on prices. After a few dismal years, any news that isn't a decrease is more than welcome by just about everyone, rich and poor, domestic and international. Tuesday's Case-Shiller print was no exception, as home prices "jumped"...by a mind-numbing 1%...two months ago in June... on a rolling three-month basis (i.e. April through June).....still reflecting the last dying gasp of the home buyers' tax credit. Again, a little context:

[chart]

And how the markets rallied.**

Friday's bulls, reinvigorated after a powerful (and low volume) start to the month, launched their attack on a new front: employment. Long a forgotten weapon in the bulls' arsenal, private payrolls climbed by a larger-than-expected 67,000 in August, beating expectations for a 45,000 gain. At that rate, it would only take a little under 9 years to rehire the 7,000,000 people who lost their jobs during the recession but have yet to find new work (assuming no increase in population). Only 7,000 permanent government jobs were shed during the month, though economists expect that number to rise as state and local governments face crippling budget deficits. The other 114,000 new claims represent the last major layoff of temporary census workers, who rejoin an army of job seekers that have collectively become one of America's most structural economic challenges.

[chart]

Obviously plenty of reason for the markets to celebrate.

Now for the bad news.

On the same day as the ISM Manufacturing survey was released to considerable fanfare, July's construction spending was released by the Census Bureau and confirmed a worsening year-over-year decline of nearly 11%. Month over month, spending was down 1% in July and suggests another downward revision to third quarter GDP.

More from Goldman:

Construction outlays dropped 1% in July from a level that was revised down a whopping 2.7%. This dismal construction report flew below the market's radar, as it normally does since it usually comes out alongside the ISM manufacturing survey. One might dub construction outlays the Rodney Dangerfield ("I don't get no respect") of US economic indicators. Of all the data released this week, it has the most direct bearing on the real GDP "bean count" next to the monthly consumption report. Hence, since consumption was only modestly better than expected, a case can be made that third-quarter growth might actually be lower now than we thought a week ago despite all the upside surprises.

[chart]

Wednesday also revealed that another source of bullish sentiment in July may have been a little premature: auto sales. After months of steep retail incentives and easy year-over-year growth comparisons, cash- and credit-strapped Americans returned to a more cautious consumption path. As the second largest leveraged purchase in a typical household, auto sales reflected that shift. Only Chrysler, the runt of the litter, managed to squeak out an increase in sales in an otherwise sluggish retail environment.

[chart]

Finally, on Friday the latest ISM Non-Manufacturing survey was released and was every bit as disappointing as everyone expected the manufacturing survey to be. The index slowed to 51.5% in August from 54.3% in July and 55.4% in May, and its components were even less rosy. From Econoday:

A new optimism after today's jobs report -- not so fast. The ISM non-manufacturing report shows broad and deeper-than-expected slowing. New orders at 52.4 are down more than four points in August for the slowest rate of month-to-month growth so far this year. Employment, which in this report includes government workers, is signaling contraction, at 48.2 for a nearly three point decline for the worst reading since January. The composite headline index at 51.5 is down exactly three points for what is also the worst reading since January. Backlog orders are basically flat, export orders are down, deliveries are showing less delays, and general business activity is slower. Imports did rise as did raw material prices.

[chart]

In response, the market cut its morning gains in half, only to rally into the close to retest the morning highs. What makes this week's schizophrenic ISM interpretations so dangerous is that the upside surprise on Wednesday was based on data that captures roughly a third of the economy, while Friday's non-manufacturing disappointment approximates activity in roughly two-thirds of the economy. So of course the markets ended the week up 3%.

Once again, Goldman's analysts try to walk a fine line between sell-side optimism and buy-side skepticism:

On the whole, it's been a good week for US economic data...reports on factory activity, pending home sales, and the labor market have surprised to the high side. In fact, some of these readings have benefited from positive judgmental adjustments, as factors not readily apparent in the headline indicator have also been better than expected. However, this does not mean that the outlook for US economic activity has improved, except insofar as the better-than-expected news eases market worries about a "double dip". At least some - perhaps most - of the improvement ... reflects what Paul Krugman once called, in a much different context, "The Age of Diminished Expectations". In the current setting, we note that several prominent forecasters have marked down forecasts of economic activity and therefore may also have lowered their sights on the higher frequency indicators.

Interpretive bias is inevitable when any new data is released. Optimists will quickly find a silver lining in any dark cloud, and pessimists will pick apart even the most robust reports of growth and tease out a bearish narrative. Investors should think twice when these competing forces fall out of balance -- when markets are as unabashedly bearish as they were in late 2008, or as unapologetically bullish as the were during the second half of 2009.

If the first few days of September are any indication of how the month will unfold, we may be back on the perma-bull track. When disappointing data is released, investors cheer for more fiscal and monetary stimulus. When data is surprisingly positive, investors cheer at the prospect of a sustainable, organic recovery. As we saw in early 2010, this "heads I win, tails you lose" mentality is particularly vulnerable to rapid and substantial correction, and a September that entered as a lion may finish the third quarter as a lamb.

Disclosure: Long safety, short risk (no specific stocks mentioned)’

Correlation and the S&P 500 [ I really think this author was a bit too diffident in talking about the computerized churn-and-earn scam which eats away at the real economy , but the discussion highlights at least this immense problem area ] ‘The immense correlation between the market, and almost all risk assets on Earth is not a new subject to FMMF readers. [Jun 30, 2009: Bloomberg - Correlation Among Asset Classes Highest Ever] I beat this dead horse monthly, mostly out of abject frustration. [Sep 2, 2010: Why Bother with Individual Stocks in the Perfectly Correlated Market?] I don't have an issue when the market is up 2-3% or 90% of stocks move in the same direction, it is all these days the market is up or down 0.7% when it drives a person nuts.

Friday, for example, every position I had but one was up. As I type this every position but one is down.

This correlation madness started to become an issue in 2007 as we were told that hedgies control 40%(ish) of each day's trading volume. As I said then, since mutual and pension funds are relatively staid players, the 'fast money' is the marginal buyer, and 'hot money' in the form of hedge funds - especially of the quant variety - are the marginal buyer. The problem now is they seem to be the only buyer as equity fund withdrawals continue on pace as the retail guy floods into bond funds.

So we have a market dominated by computers trading to computers, all using related algo's - happy, happy, joy joy. Now we hear things such as 60-70% of trades flow through these players... and since EFTs are the weapon of choice, computerized trading of EFTs have taken over the market. [Jun 29, 2010: Correlations Among Asset Classes Reach Ever Higher Extremes as HAL9000 Algos Dominate Life] The SPY ETF is now about 9% of ALL volume as of last check, and we had a time about 7-8 months ago where Citigroup (C), AIG (AIG), Fannie (FNMA.OB), and Freddie (FMCC.OB) were 40% of all volume. Pathetic.

Frankly, it makes the market a frustrating and 'less fun' place. The market used to be a four-dimensional jigsaw puzzle, comprised of fundamental, technical, psychological, and 'animal spirits.' Now it's just the dumbed down two-dimensional Etch a Sketch. Shake it at 4 pm every day, because it has no memory from day to day. Sure you can adjust (in fact you must adjust) if you plan to stick around, but when everything is a 1:1 correlation, it simply reduces the market to 'stoopid' and coming in each day, checking your brain at the door, and staring at the S&P 500 chart trying to guess where it will be in 3 hours, 3 days, and 3 weeks gets to be boring. [Jul 15, 2010: WSJ - Correlation Soars on S&P 500 Shares]

But this is the casino market we have built, and I don't see anything changing anytime soon. The other issue is it makes it so much more difficult to outperform the market. Surely there are a handful of stock names that still outperform (or underperform) but with almost everything swaying in the exact same direction as the market, creating alpha is difficult. Most of the performance nowadays is not about stocks, but due to calling turns in the greater market - increasingly hard to position for as you scale in size. Especially when the majority of the turns are due to binary reactions to economic reports or Fed announcements - it's simply placing your bets on red and black, not a stock market.

I've written about said frustration in the past amongst the "human" hedgies, [July 8, 2010: Hedge Funds "Frozen in Headlights" as BiPolar Market with 1:1 Correlation in All Things Not Named U.S. Treasuries Causes Confusion] and this is taking a toll on the mutual fund managers as well.

One of my big beefs with the mutual fund industry is that many players - especially in the bigger funds - are closed index funds. They all have super cool names but almost anything in 'large cap value' or 'large cap growth' were hybrid closet indexers. They basically flip an Exxon (XOM), Intel (INTC), or a Microsoft (MSFT), with a Walmart (WMT), Verizon (VZ), or a Cisco Systems (CSCO) -- change the order, weighting, and indeed are able to charge a nice fee for doing nothing other than being the S&P 500 with a small twist. I cannot tell you how many 401k plans I reviewed for people, where I went to look at the top 10 holdings of the 12-15 mutual fund choices and 90% of them were identical (just in different order in weightings!). The statistic of 0.99 correlation amongst the S&P 500 and many of the largest funds is quite remarkable and points to my 'closet index' beef, but with the mechanics of our new paradigm market, it has taken it to a whole new level. It also says a lot of people are wasting their money paying management fees for what is an S&P 500 ETF clone.

That said, even with the closet index situation that has been growing for a decade+ you used to be able to try to outperform if you plied your trade in small or medium caps (or international markets), but the HFT + EFT = GLEE environment we now live in has made that increasingly moot, since most of those stocks now move in unison as well. If your stock is not in a major EFT it generally sits ignored with low volume... if it IS in an ETF than it doesnt matter the company specifics - as long as the algo's are buying (or selling that ETF) as flavor of the day, every component in that ETF is a winner (or loser)! Stoopid is as stoopid does in the market with 1st grade logic.

One gentleman I've admired for many years is Will Danoff at Fidelity Contrafund. [Sep 9, 2008: Will Danoff in Kiplinger Magazine] His fund has been huge in size for years on end (I'm talking multiples the size of the biggest hedge funds - Contrafund is now up to $62 BILLION), yet he has been able to somehow outperform his peer group (and until the past 5 years the S&P 500) by a wide margin, mostly by being somewhat contrarian. This despite holding many positions and not being extremely concentrated - a feat I find quite remarkable since once you start owning 200-250 positions I don't know how you can beat the market over time. (Contrafund owns 445 positions as of last quarter!) Danoff is highlighted in this piece, which is why I mention him - he is no dummy.

Via Bloomberg:

Fidelity Investments’ William Danoff, the stock picker who led the Contrafund to benchmark- beating returns, isn’t looking very contrarian these days. Danoff’s $62 billion Contrafund, which seeks to beat the market by picking stocks whose value hasn’t been fully recognized, has tracked the Standard & Poor’s 500 Index more closely this year than in any year during its four-decade history.

“Danoff usually finds ways to go against the grain, but these days there isn’t much that’s contrarian relative to the macro theme,” Adviser Investments’ Lowell said. “This is a trendless market and it’s not providing him any room to break away from the S&P 500.”

Investing abroad hasn’t helped stock pickers like Danoff because correlation has shot up even between regions.

Danoff isn’t alone. Six of the 10 largest U.S. stock funds show correlations of 0.99 this year, meaning they moved almost completely in sync with the market. Managers are struggling to stand out and attract new money as fear of another crisis prompts investors to move in and out of markets without discriminating between securities, industries or geographies.

Robert Doll, BlackRock Inc.’s chief equity strategist, said while stocks moved in lockstep before, this is the longest he has seen correlation persist across markets. “We were expecting 2010 to be the year when stock selection would add value, but that hasn’t been the case.”

Doll says even the most high-quality stocks have been hurt among a larger sell-off in risky assets. “We’ve scratched our heads many times during this year as the macro picture is driving everything,” Doll said. “It can be frustrating along the way, but we’re just focusing on the fundamentals and eventually we’ll get paid for it.”

The correlation between the U.S. equity benchmark and its individual members was 0.81 in the 50 trading days through July 7 and has since remained close to that level. That’s almost twice the historical average of 0.45 over the past 30 years.

The increase in correlation is making it difficult for actively managed funds to beat their benchmarks and produce better returns than lower-cost index products. “You can’t pick any mutual fund, even if has previously been a winner, and expect it to outperform in this market.”

Mohamed El-Erian, the chief executive officer of Newport Beach, California-based Pacific Investment Management Co., says investors have a “risk-on/risk-off” attitude that leads to sometimes “violent” swings, such as the sell-off in markets worldwide on Aug. 11, after the Federal Reserve indicated that the economic recovery had lost momentum. “We were particularly struck by the size and correlated nature of the market moves,” said El-Erian.

Correlation may be linked to the increased use of exchange-traded funds and index funds in the stock market, especially those that focus on particular industry groups, said Brian James, co-director of equity research at Boston-based Loomis Sayles & Co. Assets in U.S. ETFs have grown to more than $821 billion from $608 billion at the end of 2007, according to Investment Company Institute. “It is almost axiomatic that if you have an increased presence of single-purpose ETFS and futures traders, it moves stocks in one direction,” said James.

Correlation has been particularly pronounced for companies with larger market capitalizations, and for the larger funds. James said that 90 to 95 percent of large-capitalization stocks have tended to move in the same direction this year, up from about 70 percent prior to the 2008 financial crisis.

The largest U.S. stock fund, the $148 billion Growth Fund of America, has seen correlation increase to 0.99 this year, from 0.84 in mid-2008. For the $37 billion Dodge & Cox Stock Fund, run by San Francisco-based Dodge & Cox, the correlation measure was also 0.99 this year, compared with low of 0.81 prior to the height of the crisis in late 2008.

Disclosure: None’

Obama seeks $100 billion business tax credit (Washington Post) [ All just monopoly money now! And, of course, pre-election talking points as war spending ramps up in Afghanistan. Sounds like … uh … uh … plan? Bankruptcy plan? `Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable …` ]

Economic events for this week (Washington Post) [ Well, I’ll stick with nobel prize winner Krugman (infra) among other similar dire but realistic forecasters who, beyond the spin and fake market-frothing data (especially so close to the mid-terms) have a track record of being right when everyone else was ebulliently wrong, mr. fraudulent-wall-street-glass-half-full-though-empty. ] After a busy week of economic data, this one should be quieter, offering the Federal Reserve's compilation of anecdotal information on the job market and new details on trade.

Obama defends policies and offers new proposal (Washington Post) [ No you can’t wobama … b* s* everyone again! ‘Yes, we can … NOT!’ That dog don’t hunt anymore wobama. `Drudgereport:` `Obama takes aim at Boehner...`    `'They talk about me like a dog'… [ If the shoe fits, wobama … keep gearing up Afghanistan … sounds like a plan]...` ]Faced with twin challenges of boosting the economy and saving congressional seats, the president tries to do a little of both on Labor Day.

Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.

Government Bonds: Can the U.S. Maintain Confidence in Its Debt? Cliff Kule Massive, unsustainable government debt - it's everywhere. Especially in America. At some point, will the world begin to lose confidence in America's growing debt? Will interest rates then skyrocket? Will a Greek-style crisis in U.S. government bonds then ensue? Is there any way out?

America can claim its debt problems are not as bad as some countries. But that ignores some important points:

See an interesting chart on how America's financial condition is worse than several other countries.

Even the most respected bond manager in the world, Pimco's Bill Gross, believes there are several countries including the U.S. whose financial ratios are in dangerous territory - the "ring of fire".

A loss of confidence in the U.S. dollar and U.S. debt could bring a "Greek-style" crisis to the whole world. Consider that the U.S. dollar has been the world's reserve currency since 1944; it has been accumulated by the whole world as a form of trusted and secure savings. There are trillions of dollars of U.S. government debt accumulated as reserve savings by banks around the world (see chart below courtesy of Hugo Salinas Price) and realize that most reserves are held as U.S. government bonds. A loss of confidence in the U.S. dollar and in the ability of the U.S. to service its growing debt could trigger an epic disaster. [chart]

Is there any way for America to maintain the confidence?

One way would be for America to become fiscally prudent, simply stop creating money and debt, let the massive deflationary forces of credit contraction and consumer de-leveraging run their natural course. This would cleanse the system of toxic debt. It would also clearly and immediately cause another Great Depression.

Another way would be for America to simply print more money, create more debt, blindly following Keynesian economics that brought us into this mess in the first place. Attempt to "inflate away" the debt without losing the confidence of investors that buy the U.S. government bonds. This has been tried many times throughout history with disastrous consequences.

The chart below (courtesy of Economic Edge) shows how increases in debt are recently giving less and less “umph” to economic GDP growth to the point now of negative GDP growth. Eric Sprott has produced an excellent study suggesting that 9 cents of "growth" is coming with every dollar we go deeper into debt. Bud Conrad has produced calculations that are equally discouraging. This massive debt-driven money printing would therefore likely lead some form of hyperinflation in a futile attempt to stimulate economic growth.

This leaves one other option.... a direction that is hardly ever considered... a policy tool still waiting to be tried!... America could return to the gold standard... Why? Because the gold standard system would back the U.S. dollar by real money, and enforce a responsible discipline of fiscal and monetary policy that Congress and the Federal Reserve cannot currently do. In turn this would maintain confidence in America's debt.

“The gold standard has one tremendous virtue: the quantity of the money supply, under the gold standard, is independent of the policies of governments and political parties. This is its advantage. It is a form of protection against spendthrift governments.” Ludwig von Mises (1881-1973)

Monetary systems on a gold standard system cannot increase money supply as needed. Under a gold standard system, paper money is backed by something of real tangible value. The total amount of gold limits the total amount of paper money that can be created. New money must be backed by additional gold. Omnis’ Jim Rickards suggests this possible solution: a “gold backed currency at a non-deflationary price… sound money leads to sound growth and the creation of real, not illusory, wealth.”

In 1971, President Nixon simply severed the tie between gold and U.S. dollars. As he closed the gold “window,” Nixon proclaimed “We are all Keynesians now” (referring to the Keynesian economic school of thought where gold has no function). Austrian School economists and Cliff Küle would like to say – We are not all Keynesians.

Did severing the link between the dollar and gold work to strengthen confidence in the U.S.? Please consider:

Within a generation of that move, the U.S. went from being the world’s largest creditor nation to the world’s largest debtor.

TIME Magazine of 1979 said:

Until the greenback is once again made as good as gold, many millions of people will persist in believing that the barbarous relic is still a better bet.

Recently speaking about Goldman Sachs’ problems at the Peter G. Peterson Foundation, former President Bill Clinton said,

There is a bigger problem here… too much of our growth was in finance ever since went off the gold standard.

The dollar “tie” to gold might be “re-tied” just as simply as it was untied. In a certain respect, America never really went off the gold standard. The tie between gold and U.S. dollar was simply adjusted to 0%. So, simply adjust it back. What tie would be needed today to restore America back to the gold standard? Let’s do the simple math.

Official figures for the total amount of gold reserves held by the U.S. Treasury are 8133.5 tonnes of gold. This gold is owned by all Americans and is held in trust by the government for the people. Given that 1 metric tonne is 32150.746 ounces, that amounts to:

8133.5 tonnes x 32150.746 ounces/tonne = 261498092.591 ounces

If we look at recent Federal Reserve data, we note that the total U.S. M1 seasonally adjusted money supply is at $1712.2 Billion of currency. Therefore if we were to take the total currency and back it by the total amount of gold, this would give:

$1712.2 billion divided by 261498092.591 = US$6547 per ounce

There you have it – if the U.S. were to devalue the U.S. dollar, setting gold at 6550 U.S. dollars per ounce of gold, the country could position to go back on the gold standard. Global confidence in the U.S. dollar and in America's debt would be maintained. It may be as simple as finding the right price for the government gold holdings to give "backing" to every dollar in circulation.

$6550/ounce is approximately the current value necessary to give "gold backing" to the current level of M1 money supply. If the U.S. wanted to expand the money supply further to stimulate the economy, it would need to set a new price for its gold holdings which is even higher than $6550/ounce or somehow get more gold. The U.S. could then be in a position to expand money supply as necessary to stimulate growth and able to extend credit to other nations. This is an essential ingredient to restoring confidence and keeping the title of reserve currency. After all, a reserve currency should be able to extend credit to nations in need, not be in need of credit from other nations.

As Jim Rickards states, this one-to-one ratio backing of gold with the U.S. dollar

would comfortably support a broader U.S. money supply on a one-to-one ratio and maintain confidence in the dollar and U.S. sovereign debt.

Perhaps only then could global confidence in the U.S. dollar and in U.S. debt be maintained – if not, either a deflationary depression or a hyperinflationary depression could be in store as confidence wanes with increasing levels of public debt.

Back to the Future

Nick Barisheff, President and CEO of Bullion Management Group, emphasizes that gold is money:

Gold is not and never has been a currency. Gold is something entirely different and far more valuable. It is money.

Cliff Küle suggests that to maintain confidence in its debt, America must bring back the gold standard, anchoring the U.S. dollar back to real money - gold, as Article 1 of the Constitution of the United States commits it to be.

Disclosure: No positions

Work Until You’re Dead? That May Be the Only Option for Many Americans Huffington Post | Given that the first wave of Boomers is scheduled to turn 65 in 2011, Attention Must be Paid.

Gold Could Double over Five Years – Headed Higher with Government Resentment: Holmes Gold has the potential to double within the next five years, and if governments stumble with their policies, it can go even higher, said Frank Holmes, CEO of US Global Investors.

As Americans Celebrate Labor Day 2010, U.S. Factories Are Closing In Droves Labor Day 2010 comes in the midst of a stunning wave of U.S. factory closings that stretches from coast to coast. Once upon a time America was the greatest manufacturing machine that the world has ever seen, but now it seems as though the only jobs available for working class Americans involve phrases such as “Welcome to Wal-Mart” and “Would you like fries with that?”

Burry, Predictor of Mortgage Collapse, Bets on Farmland, Gold Michael Burry, the former hedge-fund manager who predicted the housing market’s plunge, said he is investing in farmable land, small technology companies and gold as he hunts original ideas and braces for a weaker dollar.

Unemployment in U.S. May Rise Toward 10% on `Feeble’ Growth As Bob Chapman outlined on the show today, once the real figures that the U.S. Labor Department hides are factored in, real unemployment is over 21 per cent – approaching great depression levels.

Manipulation Of Money – David Icke David Icke explains how money is created out of fresh air and how debt is used to enslave us.

Globalism Destroys America: 10 Reasons Why The World Trade Organization Is Bad For The United States Economy In 2010, education has been so “dumbed down” in America that most Americans don’t even know what the WTO is, and even fewer understand why the WTO is important. The truth is that the World Trade Organization is essentially a global government for world trade.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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).

National / World

FBI Warns of Possible Terrorist Response to “Burn Koran Day” Kurt Nimmo | Violence expected in response to Koran burning demo in Florida.

Everything you need to know about the events in NYC We Are Change | To be sure everyone is keyed in on all details, we here in NYC decided to write up an extremely detailed schedule.

The Reckless Mess Created by The Fed Bob Chapman | The 3-card Monte game continues.

Exclusive: Internal FBI Memo: Government Bracing For Violence Over “Burn Koran Day” Infowars.com has received a leaked copy of an internal FBI memo warning of a possible terrorist response to “International Burn A Koran Day,” an event scheduled for the ninth anniversary of the September 11 attack to be held by the Dove World Outreach Center in Gainesville, Florida.

Condoleeza Rice: Everyone Thought Flight 93 Had Been Shot Down When United 93 came down Ms Rice and other officials believed it may have been shot out of the sky. Miss Rice added: ‘Everyone in that room thinks that perhaps it’s been shot down.’

The White House Attempts To Refute The Scariest Jobs Chart Ever You’ve certainly seen the chart that we’ve dubbed The Scariest Jobs Chart ever, which shows how meager the jobs recovery has been since the start of the recession, compared to other recessions.

Obama Did Create 3 Million Jobs — in China President Obama should be saying, “My economic stimulus plan has preserved or created 3 million jobs — in China.” He keeps leaving out the words “in China.” His plan is stimulating American demand for imports, not demand for American products.

Obama: Sounding Bush-like? David Swanson said President Obama sounded like he embraced all the lies about this war, including the falsehood about the surge which created “mythical success”.

Abortionists Kept Aborted Babies in Jars I used to think that the abortion industry were simply capitalists who allowed their greed to override their humanity. I used to think that maybe it was just feminism run amok and that cooler heads would eventually prevail. I used to think that pro-lifers were simply up against the extreme of secularized logic. Over the past few years though I’ve come to believe that it’s more than that. It’s worse than that. We’re immersed in a culture with a death fetish. Our fascination with death is boundless.

The Establishment Media Smear Machine Is Officially Dead Ashes to ashes, dust to dust. The establishment media smear machine is officially dead and buried. Rand Paul has extended his lead over Democratic opponent Jack Conway to a massive 15 points, proving that when the distrusted and discredited corporate media attacks anyone now, it actually increases their popularity.

`Drudgereport:` `Petraeus Speaks Out on Quran Burning...`
`Endangers Troops...`
`Pastor Says Church Not Deterred...`
`Hartford City Council meetings to begin with Muslim prayers...`
2 SOLDIERS KILLED IN IRAQ, 9 WOUNDED*

`ADDICTED TO STIMULUS: $50,000,000,000 MOREDems wary of WH's huge new spending plan...`
`Obama takes aim at Boehner...`    `'They talk about me like a dog'… [ If the shoe fits ...`     President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.” ]

`'They talk about me like a dog'...`
`FLASHBACK: President-Elect Obama: Mutt 'Like Me'...`

`Muslims Protest Plans to Burn Quran...`
`'Death to America'...`

`Fears rise as EU nations aim to raise borrowing... Roubini: More than 400 US Banks Will Fail...`

`'COMBAT OVER': US TROOPS BATTLE IN BAGHDAD...`

Obama to call for $100B business tax credit (Washington Post) [ Just in the nick of time … riiiiight! … for the elections … you know, ‘talking points’ though of no economic effect … and to make america, only slightly more bankrupt ... at this point, who’s counting? ] Under mounting pressure to intensify his focus on the economy ahead of the midterm elections, president seeks to boost research and development

Afghan bankers' assets frozen (Washington Post) Authorities bar sale of properties held by principal owners, but freeze excludes Karzai's brother [ Yeah … don’t want to get him too angry … he’s too valuable to the heroin trade resurrected by america. ].

Small businesses feel squeezed by Obama policies (Washington Post) [ Well, the grim reality for them is that they just don’t pony-up those big campaign dollars like those non-performing corporate welfare recipient conglomerates / big businesses. The other reality, reiterated again here is that everybody’s on to the fact that wobama’s great at delivering speeches, albeit teleprompted, but as we now all know, he doesn’t deliver. It’s rather pathetic to see that old loser and jingoistic fake war hero fraud, senile, incompetent mccain who never saw a new war opportunity he didn’t like despite america’s defacto bankruptcy (a policy the post-election wobama’s promulgated) because of same being given air time as some sort of wise old sage when he’s really just an old, stale joke who would have been even worse than wobama but not by much, failed presidencies both. ]

Charles Manson & the Scientific Dictatorship Jurriaan Maessen | Just like Manson, the scientific dictatorship would like to see the bodies piled up high.

Obama, Corporate Media Ignore Widespread Health Problems On Gulf Coast Kurt Nimmo | Obama gets to declare another mission accomplished while residents of the Gulf suffer.

Charles Manson: Global Warming Prophet Paul Joseph Watson | James Jay Lee, along with many prominent environmentalists and academics, share their eugenicist belief system with the man who many consider to be evil incarnate.

Gender bender chemical atrazine widely contaminates U.S. public water supply David Gutierrez | Research indicates the U.S. water supply is widely contaminated with the endocrine disrupting chemical atrazine.

The Impact of Fiat Money as the World’s Reserve Currency David Redick | Nations can’t afford our exorbitant privilege of being both a fiat currency and the world’s primary reserve currency.

The Imperial Anatomy of Al-Qaeda. The CIA’s Drug-Running Terrorists and the “Arc of Crisis” As the 9th anniversary of 9/11 nears, and the war on terror continues to be waged and grows in ferocity and geography, it seems all the more imperative to return to the events of that fateful September morning and re-examine the reasons for war and the nature of the stated culprit, Al-Qaeda.

Climate Scientist: Manipulating Earth’s Climate Will Not Cost Taxpayer More than $1 Billion… Annually! David Keith, director of the Institute for Sustainable Energy, Environment and Economy, has proposed releasing engineered nano-sized discs in the earth’s atmosphere to “offset global warming”- and that for just $ 1 billion of your taxpayer-money annually.

Dollar falls to 15-year low against yen The dollar fell to a 15-year low against the yen Tuesday, plunging at one point to 83.52, as the Japanese unit took advantage of its status as a refuge currency amid global economic uncertainty.

Austerity Strikes Hit France, Britain In France, unions called for a day of mass strike action shutting down trains, planes, buses, subways, post offices and schools in protest against President Nicolas Sarkozy’s pensions reform bill.

Former N.Korea soldiers to form group to topple regime Scores of former North Korean soldiers who defected to South Korea will this week form a group aimed at toppling the regime with the help of serving soldiers there, one of its leaders said Monday.

Mark Hulbert's Take: What Are the Odds of a September Decline? at Seeking Alpha (Fri, Sep 3) ‘Some of the work Mark Hulbert does is nothing more than telling us what the gurus in the universe he follows are thinking individually and, more frequently, in the aggregate. But of late, he also has been doing some far more interesting analysis in the “Yale Hirsch” mode – and the results are not satisfying if you are a bull.

The bullish case seems to rest on two platforms: (1) August was really bad therefore September should be good in reaction to that, and (2) “Everyone” now expects the current crop of politicos to suffer major setbacks in November and, since the market is a predictive mechanism, investors are positioning themselves today for what they believe will be wonderful news post-November (like an extension of the current tax rates and a reduction in pork-barrel spending by irresponsible pols.)

The Dow rallied more than 300 points the first two days of September so, making the usual straight-line assumption, bulls believe that today is the day to get invested, Hmmm. Let’s examine each of the above platforms in turn.

Quoting Mr. Hulbert’s conclusions based upon his historical analysis:

I have good news and bad news when it comes to slicing and dicing the historical data as it pertains to September.

The good news is that it is possible, by carefully reading the statistical tea leaves, to get advance insight into whether any given month is likely to do better or worse than average.

The bad news: Those tea leaves provide no such hope that this September will be able to beat its historical reputation as being awful for stocks.

His research shows that since 1896 (the year the Dow Jones Industrial Average was created,) the Dow has lost an average of 1.15% in September. The average gain for all other months was 0.71%. Worse, a look at the historical record shows that Septembers did not show a 1.15% decline following a bad August – they showed a 2.7% decline! Typically, when August is down, as goes August, so goes September -- only twice as bad as usual.

Worse than that, Hulbert notes, “During each of the past nine decades... September's rank relative to other months in terms of performance was never higher than ninth. It was dead last in five of those nine decades -- including the most recent one.”

He adds a final bit of gasoline to this bonfire by noting that the CBOE's Volatility Index (VIX) is relatively low going into September, the month tends to do better. Uh-oh. The VIX at the end of August was quite a bit higher than 20. (And for those who have followed our comments on the VXX and VXZ ETFs in the past, we believe they have now entered an excellent buy area.)

As for the second platform, the market seldom reacts favorably to the same news twice. I’ve been writing for two years that the pendulum will swing, that the 2008 election was a rejection of the guns-and-butter policy of the previous administration and was little different than the voters’ rejection of President Johnson’s guns and butter policies in 1968 (thrusting Richard Nixon into office with disastrous consequences we hope are not repeated this time around), and that mid-term elections are almost always about mitigating the euphoria of the previous presidential election. This is not news!

The rally of September 1^st and 2^nd may have occurred as a result of Johnny-come-latelies reaching the conclusion Wall Street reached about the mid-term elections weeks or months ago. If that is the case, I imagine the smart money is rubbing their hands with glee and using this rally to lay on bigger short positions.

The current rally was ostensibly about the fact that the Chinese Purchasing Managers Index rose to 51.7 in August from 51.2 in July, followed by the news that the U.S. ISM Manufacturing Index improved from 55.5 in July to 56.3 in August. I don't see it – these incremental numbers are nothing but decimal dust in the grand scheme of things! Easily manipulated by the bureaucrats in charge of such numbers, the “improvement” is so small as to be barely measurable – and to raise not a stir among the media when they are “revised” from “up 0.5%” to “down 0.1%” or whatever in another month.

The other economic numbers that form the backdrop to this rally include: Canada’s GDP fell to an annual rate of 2% in the 2^nd quarter, down from 5.8% in Q1; auto sales absolutely plunged in the U.S. and around the world; there was a continued drop in U.S. construction spending; there were declining retail sales in Euro nations; and the ADP employment report indicating that we didn’t just grow jobs at too slow a pace to cover all the new workers entering the labor force, but we actually lost some 10,000 private sector jobs! Government is still hiring, of course, but we must always remember: the private sector is income, government is overhead. That doesn’t mean we don’t need certain government workers – what hellish existence would it be without fire and police protection, or good teachers to educate our children? But it is still overhead even if we collectively choose to pay for it in order to enhance our safety or literacy.

Bottom line: September tends to do worse in years that August has been bad. August was bad. The news of the mid-term elections is already old news and will most likely follow the historical path of all mid-term elections. We will return more to the center. And the good news to propel the market higher is likely to be short-lived. Clearly, we aren’t out of the woods yet. If the market is in a news-dominated phase, we are likely in big trouble.

For our clients we are stressing safety, with inverse ETF protection from the likes of ProShares Short S&P 500 (SH), ProShares Short Russell 200 (RWM), ProShares UltraShort Nasdaq (QID) and ProShares Short MSCI Emerging Markets (EUM). (If the US and Europe aren’t consuming, who is going to order stuff from the emerging nations? They will fall if our markets and economies fall…) We are also buying VXX and VXZ and are keeping our bond positions short and inflation-resistant, as we do with WIP, TIP, BWZ, and MINT. Finally, we own some special situations in precious metals, energy and agriculture. (See previous articles for specifics, including this and this...)

AP Business Highlights [ Wow! ‘Private employers hired more workers over the past three months than first thought’ … Riiiiight! Especially with 2 months to the mid-term elections (time for federal term limits and the abolition of lifetime appointments for anything owing to the nation’s defacto bankruptcy), desperation with fake / false data / reports; and, that negative but better than expected thing as unemployment rate inches up to 9.6% (the real unemployment rate is approximately 20+% with that ‘stopped looking’ fudge-factor giving them the false positive). I mean, come on! Private reports on non-farm payrolls down each week, but suddenly from out of nowhere defying virtually all economist estimates the ue claims are up, and prior gov’t reports revised up. This is a great opportunity to sell / take profits! ]Companies add 67K workers, but jobless rate rises WASHINGTON (AP) -- Private employers hired more workers over the past three months than first thought, a glimmer of hope for the weak economy ahead of the Labor Day weekend. But the unemployment rate rose because not enough jobs were created to absorb the growing number of people looking for work ...’

Stocks Churning in Trading Range: Dave's Daily ‘This will be short. Perhaps the image [old lady (wall street) churning (scam) butter (stocks)] and title should suffice as a summary of the week. After all, I indicated "possibly" I might post on Friday. The current market is a reprise of early July's rally from June's selloff. Now into September the August lows are reversing. How durable will this be is anyone's guess. Economic data was greeted with bullish enthusiasm as markets were oversold after Monday's slump. The unemployment data was just about the same as previous once you look deeper inside the data. The birth/death model is just an estimate made out of thin air. Once you view the data ex-that, things look pretty grim. There are very few players involved this week and perhaps in the future. It's interesting many major banks are closing their proprietary trading operations. This removes another important prop to markets as retail investors have left the scene. Further, for stock mutual funds, the exodus continues for the 16^th straight week. Cash balances at these funds are at historic lows of 3% as the outflow continues. Curiously, short interest is also at an all-time low near 4% meaning few for bulls to squeeze. We only have hedge funds and overseas investors in the game. And, it does seem like a game more than ever now. Bulls jumped on the oversold conditions on Wednesday as a DeMark 9 was registered on Tuesday for most major market daily charts then. A rally on that technical condition was no surprise ...’

Important Manufacturing Indicators Look Weak at Seeking Alpha (Fri, Sep 3)

Consumption Contraction Approaches 2008 Low at Seeking Alpha (Fri, Sep 3)

Beware the Big Red Leading Indicator at Seeking Alpha (Fri, Sep 3)

Small Investors Turns More Bullish (contrarian indicator) at Seeking Alpha (Fri, Sep 3)

Unemployment Rate Edges up to 9.6% at TheStreet.com (Fri, Sep 3)

AAII Sentiment Survey: Bullish Sentiment Improves, But Bearishness Still Dominates at Seeking Alpha (Fri, Sep 3)

Monthly Markets Review: Risk Aversion Rises in August as Double Dip Concerns Grow at Seeking Alpha (Fri, Sep 3) ‘…The ECB keeping rates at a record low of 1% and zero interest policies in the US and in most western economies remains bullish for gold as the opportunity cost, the lack of yield, of owning gold is negligible, especially with inflation having picked up recently in many economies internationally. Further signs of burgeoning food inflation were seen in the surge in the price of global meat prices which have risen to 20 year highs … (chart) September can be the 'cruelest month' for stocks. Conversely, more years than not, precious metals prices perform well in September and many analysts reckon this year will not disappoint those owning gold. Given the uncertain financial and economic outlook, it is important that investors remain diversified with allocations to cash, short dated government bonds, international equities, and gold…’

More than 400 US Banks Will Fail: Roubini CNBC | More than half of the 800-plus US banks on the “critical list” are likely to go bust, according to renowned economist Nouriel Roubini.

U.S. unemployment soars to 9.6% after economy loses 54,000 jobs The U.S. unemployment rate rose to 9.6 per cent in August, official figures released today have shown. The data from the U.S. Labor Department showed the economy lost 54,000 jobs last month as the United States continues to struggle to recover from the recent global recession.

Government Economic Leaders Surprised that Real World Isn’t Responding to their Magic Pixie Dust Many have tried to explain to the neoclassical economists running the show exactly how bad the economic collapse would be, why it was so bad, and how to mount an adequate response to fix things. But Bernanke, Romer and the rest of the gang ignored them.

Why Lessons From The First Great Depression Mean The Next Four Months Will Be Very Painful For Stockholders Scott Minerd, CIO of Guggenheim Partners, parses through the years of the Great Depression, and focuses on the pivotal 1936, which contained in it the seeds for the destruction of the period of relative economic growth and stability from 1932 to 1936.

Michael Pento Says Fed Will Buy Stocks And Real Estate In Its Next Attempt To Create Inflation Zero Hedge | Pento also goes into explaining why housing is facing a “deflationary depression,” and a further collapse in pricing, why inflation benefits only those closest to the money, i.e., the banks and the military complex.

The U.S. Path to Collapse National Inflation Association | The pain that was felt after the collapse of Lehman Brothers is nothing compared to the pain that will come when we begin to feel the effects of bailing out the rest of Wall Street.

National / World

Globalist Soros Launches Frontal Assault Against Tea Party Kurt Nimmo | Soros and the foundation left have launched a website designed to go after the growing Tea Party movement.

ABC Nightline Hit Piece Smears Alex Jones As King of “Paranoia Porn” [ Yeah! This is unequivocally indefensible on the part of abc (or nbc, fox, cbs, etc. if they shared a similar mainstream media view) because there are so many substantial nation-damaging behaviors that are in plain sight yet go unreported (and unprosecuted). I’d feel more comfortable with a Washington Post Network (possibly as a wholly owned subsidiary to militate against the risks inherent to such a venture and the establishment of same). While I do find Alex Jones’ somewhat overstated vaunted opinion of the so-called elite a bit much, it’s not because these mental cases are not trying to do he has accused / shown, but rather because I find his ‘elite’ to be as I’ve previously stated totally inept, incompetent vegetables who are incapable of doing anything well or of substance. I’m really not exaggerating when you look at their track records of inscrutable failure, if only because of a lack of focus on and attention to such failure / corruption. This also includes the ‘pols’ who make the case for term limits based upon any previous service at all. I think people should be thankful that Infowars, Prison Planet, Jones, et als, value the people / humanity enough to take the very real risks, and expend his time and energy in sifting through the plethora of b* s*, obfuscation, and cover-ups to reveal the truth. Given the inherent state of human nature, their lack of courage, integrity, etc., including that of americans generally, another area where I part company with Jones et als and which, truth be told led them to censor my comments to some of their articles (very hypocritical), such sacrifice by them seems very difficult to justify; but the discomfort they give the dysfunctional mainstream media is certainly a good thing of itself. ] Paul Joseph Watson & Kurt Nimmo | Dan Harris proves yet again why the establishment media is increasingly shunned and distrusted.

The True Cost of the War Paul Craig Roberts | America’s “war on terror,” a fabrication, has resurrected the unaccountable dungeon of the Middle Ages and the raw tyranny that prevailed prior to the Magna Carta.

Fluoride: Direct Engagement to Incite Public Inquiry Travis Crank | Wichita public servants outwardly deny the fluoridation of our water.

Eugenics Alert: World Bank Population-Reduction Lending Schemes Already Underway Jurriaan Maessen | The World Bank works in concert with all the other arms of the octopus.

As Usual, MSM Gushingly “Predicts” Our Fascist Future [ This is quite shocking inasmuch as they’d then be able to easily ‘off’ with a few simple modifications of the chip for any of a multitude of bad reasons / motifs. I would never, under any circumstances, permit this for myself, etc..] David Kramer | From the broadcasting arm of the number one New World Order industrial corporation, General Electric, comes this story about the “convenience” of being microchipped for identification.

Drudgereport: `UNEMPLOYMENT JUMPS TO 9.6%...`
`Economy LOST 283,000 jobs during 'Recovery Summer' months...`
`NPR: 'Recovery Summer' Ends With Economic Pothole...`
`Labor Sec. Declares: 'There are jobs out there'...`
`TREASURY HEAD RUSHES BACK FROM VACATION; AIDES SEARCH FOR OTHER JOBS PACKAGE...`
`120 Days to Go Until Largest Tax Hikes in History...`
`President Claims Job Creation; Doesn't Mention Net Job Loss of 54K...`
`HE NEEDS A VACATION: OBAMA TO CAMP DAVID...`
`Taxpayers to face initial loss on GM IPO; Treasury to sell first shares below break-even...`

David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression Burrows ‘Presciently bearish David Rosenberg, the chief economist and strategist at Gluskin Sheff who called the global meltdown back when he was still at Merrill Lynch, isn't budging from his view that the U.S. is in a depression -- and a prolonged, Japanese-style one at that. Rosenberg reminded clients on Wednesday that here we are 33 months after the Great Recession began, and yet home prices, gross domestic product, credit outstanding, organic personal income and employment are all lower now than they were prior to the onset of the downturn. "We can understand that this is not exactly cocktail conversation, but this is a Japanese-style (even worse perhaps) modern-day depression," Rosenberg writes. "It's not the 1930s because soup lines have been replaced with unemployment insurance lines -- over 10 million checks and for up to 99 weeks. The poor souls who endured the bitter 1930s had no such relief." And as for the U.S.'s vaunted labor flexibility and superior demographics saving it from a Japanese sort of lost decade or two, well, Rosenberg is having none of it. "Government policy and the record number of people upside-down on their mortgage have seriously impaired the flexibility of the labor market," Rosenberg writes. And the U.S. birth rate has declined for two consecutive years and is at its lowest level in a century, he notes. Of course, it's no surprise to buy-and-hold investors that U.S. equities have already notched a lost decade and then some. Take a look at this 10-year chart of the S&P 500 ($INX): See full article from DailyFinance: http://srph.it/aZTYr7’

Forced / Distressed / Underwater pending / foreclosure sales the impetus for short-covering / suckers’ rally on light and hence, easily manipulated, pre-holiday computerized trade volume. The government, desperate and defacto bankrupt, is back to their fake / false data reporting; you know, the kind that spurs the fraudulent wall street rallies and gets revised by 35% + down later as with GDP just recently, but the wall street frauds will get their commissions again on the way down. YAHOO [BRIEFING.COM]:    ‘…Early participants had little reason to alter their mood since the initial jobless claims count for the week ended August 28 came in at 472,000, which is in on par with the 475,000 initial claims that had been widely expected. The latest tally was also little changed from the prior week total of 478,000. Continuing claims saw a more substantial slip as they fell to 4.46 million from 4.48 million. Final nonfarm productivity readings for the second quarter also offered little surprise. Productivity in the quarter fell 1.8%, which is in stride with the 1.7% decline that had been widely forecasted. Unit labor costs for the quarter increased 1.1%, as expected. Pending home sales for July provided participants with a positive surprise. They posted a 5.2% monthly increase, which contrasts with the call for no change from economists polled by Briefing.com. That data overshadowed news that factory orders for July increased 0.1% instead of 0.3% as had been widely expected…’    Stocks rise on economic hopes ahead of payrolls (Reuters) Riiiiight! Sounds like a plan!

[$$] U.S. Equity ETFs Implode** ‘U.S. equity ETFs hemorrhaged assets during the month of August as investors sought out emerging-market equity and debt along with fixed-income picks. According to National Stock Exchange data (nsx.com) released today, U.S. equity ETFs shed nearly $11 billion in assets last month. Here's something remarkable: One U.S. equity ETF accounted for more than half of these outflows. The SPDR S&P 500 ETF, arguably the ETF industry's most iconic fund, saw net outflows totaling more than $6.6 billion last month. Who were the biggest losers besides SPY? You'll recognize some of these names: the PowerShares QQQ ETF, the iShares Russell 2000 ETF and the SPDR DJIA ETF saw net asset outflows of $2 billion, $1.7 billion and $616 million, respectively. At the other end of the spectrum, the Vanguard MSCI Emerging Markets ETF and the iShares MSCI-Emerging Markets ETF attracted $1.9 billion and $1.8 billion, respectively, while the...’

Those Who Ignore History... [The aforementioned from The Pragmatic Capitalist is a cogent summary of extant problems which undoubtedly will end quite badly for the unwary (today’s folly represents a great opportunity to sell / take profits), infra, and should be read in tandem with Graham Summer’s exposé which follows. Yet, the situation as realistically bad as they’ve so presented same, is far more dire than even they posit for the u.s. particularly owing to structural problems now inherent to america’s economy / business model which bodes ill as never before in america’s relatively short history. U.S. Stocks Surge On Overseas Growth Riiiiight! Some of the same mainstream, (msnbc) ‘money honey’ drivel one would expect from Forbes faux ‘capitalist tool’ cheerleading squad, totally devoid of forward-looking analytical prowess and leaves you burned every time. Come on! Government Motors and Ford sales were down significantly, construction spending down, private sector jobs lost, and even BofA’s Merrill Lynch has sugar-coated the reality cutting the wall street frauds a break by calling this a ‘growth rececession’. The typical fraudulent wall street churn-and-earn computerized trade scam with built in commission volume for the way down. Sorry to say it, but the reality is: This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]
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 Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent). ] The Pragmatic Capitalist ‘My position over the last 2 years has been as follows: this is a Main Street debt crisis. I have been highly critical of the government’s incessant interventionist policies over the last few years largely because they ignore the actual problems at hand. First it was Mr. Bernanke saving the banks because he believed the credit crisis started with the banking sector. The great monetarist gaffe ensued. Tim Geithner piled on with the PPIP. FASB jumped on board the bank rescue plan by altering the accounting rules. And then the icing on the cake was the Recovery Act, which, in my opinion, just shoveled money into the hole that had become the output gap, without actually trying to target the real cause of the crisis – those burdened by the debt. In essence, the various bailouts primarily targeted everyone except the people who really needed it.

A year ago I posted a story citing the many reasons why we were sinking into the deflationary Japanese trap. The primary flaw with the US response to the crisis was that we never actually confronted the problem at hand. I have often cited Japanese economists such as Richard Koo who appear to have a good grasp on the problems in Japan and now in the USA. In this case, I cited Keiichiro Kobayashi who is now looking most prescient:

We continue to ignore our past and the warnings from those who have dealt with similar financial crises. Keiichiro Kobayashi, Senior Fellow at the Research Institute of Economy, Trade and Industry is the latest economist with an in-depth understanding of Japan, who says the U.S. and U.K. are making all the same mistakes:

“Bad debt is the root of the crisis. Fiscal stimulus may help economies for a couple of years but once the “painkilling” effect wears off, US and European economies will plunge back into crisis. The crisis won’t be over until the nonperforming assets are off the balance sheets of US and European banks.”

Read that last paragraph again. These are scarily accurate comments. While the USA claims to have many economists who understand the Japan disease and/or the Great Depression the policy actions we’ve undertaken do not appear to be in line with any understanding of this history.

What we’ve done over the last few years is repeat the mistakes of Japan’s past. Instead of confronting the debt problems head on we have simply tried to fill the output gap with short-term spending plans and impotent monetary policies. As Kobayashi presciently said, the “bad debt is the root of the crisis”. I think most mainstream economists, the administration and the Fed have continually misdiagnosed our problems. They have attempted to save the banking sector and simply fill in holes with spending plans that prop up markets, entice more borrowing and largely ignore the actual cause of the current crisis. Some economists have argued that the Recovery Act didn’t fail, but that it was too small. This is like saying that the cancer patient didn’t receive enough percocet. More percocet isn’t the cure. Targeting the cancer and trying to cut it out is the cure. Yet, we continue to ignore the lessons of Japan despite having so many “experts” on the Japanese disease. Therefore, we appear destined to repeat their horrid economic history assuming our current path isn’t miraculously altered.’

WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the lunatic frauds on wall street are criminally insane and the only way to stop / deter their debilitating churn and earn among other computerized frauds is prosecution, jail, fines, and disgorgement! Once again they’re back to their huge fraudulent gains as seen this reporting period despite growing problem bank list, worthless paper from the prior fraud in the (hundreds of) trillions now marked to anything, and look at August results and worse to come; that money for their commissions / premiums must come from someplace, viz., the bubble which will deflate / crash. ] Graham Summers ‘Here’s a zinger of a news story:

Barclays Plc had no idea how big Lehman Brothers Holdings Inc.’s futures-and-options trading business was when it considered taking over the defunct bank’s derivatives trades at exchanges in 2008, a Barclays executive said.“Lehman’s books were in such a mess that I don’t think they knew where they were,” Elizabeth James, a director of Barclays’s futures business, testified today in U.S. Bankruptcy Court in Manhattan. James worked on Barclays’s purchase of Lehman’s brokerage during the 2008 financial crisis.-- Bloomberg

I’ve railed for months that the central issue surrounding the Financial Crisis (derivatives) was not only misunderstood but completely ignored by the mainstream financial media. Here we are, nearly two years after Lehman Brothers went bust, and they’re telling us that Lehman had “no idea” what its options and futures exposure was.

Let’s put this into perspective.

The notional value of the derivatives market at the time that Lehman went bust was somewhere between $600 trillion and $1 Quadrillion (1,000 trillions). It was a market of inter-linked paper contracts entangling virtually every financial institution (including some non-financials), country (Greece, Italy used derivatives to get into the European union), and county (Birmingham Alabama is one example) in the world. As a market it was at least 20 times larger than the world stock market and somewhere north of 10 times World GDP.**

In other words, this was the giant white elephant in the living room.

And here’s Lehman brothers, one of Wall Streets’ finest, most respected financial institutions which had been in business for over 150 years announcing that it had “no idea” “if it had sold $2 billion more options than it had bought, or whether it owned $4 billion more than it had sold.”

In today’s world of trillion dollar bailouts, $2-4 billion doesn’t sound like much, so let’s give some perspective here… in its golden days, Lehman Brother’s market cap was roughly $47 billion. So you’re talking about bets equal to an amount between five and 10% of its market cap. Not exactly chump change.

And Lehman had no idea where it was or how much it really owed.

Mind you, we’re only addressing Lehman’s options and futures derivatives, we’re completely ignoring its mortgage backed securities, collateralized debt obligations (CDOs), and other Level 3 assets. Options and futures are literally the “tip of the iceberg,” the most visible portion of the behemoth that was Lehman’s off balance sheet derivative issues. After all, these are regulated securities, unlike most derivatives.

Now, if the above statement doesn’t send shivers down your spine, have a look at the notional value of derivatives exposure at the top five financial institutions in the US (mind you, this chart is denominated in TRILLIONS). [chart]

If Lehman had “no idea” what it owned even when it came to options and futures (regulated derivatives), what are the odds that these other firms, whose derivative exposure is tens if not hundreds of times larger than that of Lehman’s, might similarly be “in the dark’ regarding their risk?

Moreover, who on earth might be on the opposite end of these deals? Other US counties like Birmingham Alabama (which JP Morgan transformed into 3rd world country status)? Other countries like Italy or Greece (who used Goldman’s financial engineering to get into the European Union)? My next-door neighbor’s house? Tim Geithner’s long-lost tax returns? WHO KNOWS?

The point is that the very same issues that nearly took the financial world under in 2008 still exist today. In fact, this time around the systemic risk is even more severe.

Consider that the Credit Default Swap (CDS) market which nearly took the financial system down in 2008 was roughly $50-60 trillion in size. In contrast, the interest rate based derivative market is in the ballpark of $500+ trillion.

Indeed, US commercial banks alone have $182 TRILLION in notional value of interest rate based derivatives outstanding right now. To put that ridiculous number in perspective it’s 13 times US GDP and roughly three times WORLD GDP…’

David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression Presciently bearish David Rosenberg, the chief economist and strategist at Gluskin Sheff who called the global meltdown back when he was still at Merrill Lynch, isn’t budging from his view that the U.S. is in a depression — and a prolonged, Japanese-style one at that.

The U.S. Path to Collapse The combination of more government spending and less taxes equals massive inflation, but this represents the state of mind in Washington today. Inflation is still the last thing on their minds because they don’t see it yet.

Can A Family Of Four Survive On A Middle Class Income In America Today? When I was growing up, $50,000 sounded like a gigantic mountain of money to me. And it was actually a very significant amount of money in those days. But in 2010 it just does not go that far. Today, the median household income in the United States for a year is approximately $50,000.

The Reckless Mess Created by The Fed Quantitative easing will put the American public at ease, at least temporarily. They do not realize it but the American and world economies are in a deliberate state of slow collapse. Yes, the Fed has created a terrible mess. They have been totally unprofessional and reckless.

Michael Pento Says Fed Will Buy Stocks And Real Estate In Its Next Attempt To Create Inflation Zero Hedge | Pento also goes into explaining why housing is facing a “deflationary depression,” and a further collapse in pricing, why inflation benefits only those closest to the money, i.e., the banks and the military complex.

The U.S. Path to Collapse National Inflation Association | The pain that was felt after the collapse of Lehman Brothers is nothing compared to the pain that will come when we begin to feel the effects of bailing out the rest of Wall Street.

US Retail Sales Top Estimates on Tax Holidays, Discounts Bloomberg A family walks toward the entrance to the Kohl's store in Round Rock, Texas. Photographer: Jack Plunkett/Bloomberg US retailers reported August sales that beat analysts' estimates as ...

Nation / World

Gun Confiscation in Response to Hurricane Earl? Kurt Nimmo | In New Orleans, police and National Guard confiscated weapons and violated the Second Amendment.

California Cops Taser Senior Citizen in His Own Home Kurt Nimmo | In America, now officially a police state, you will be tasered in your own home if you lip off to the police.

World Bank Threatens “Drastic Steps Necessary” if Nations Refuse Population Reduction Implementation Jurriaan Maessen | A World Bank report suggests introducing “sterilization vans” and “camps.”

British Attorney General moves toward re-opening investigation into mysterious death of Iraq weapons inspector Raw Story | The United Kingdom’s top law enforcement official has taken possession of secret files surrounding the murder of David Kelly, a prominent WMD researcher who was found dead in the months after the invasion of Iraq.

New Evidence Of Controlled Demolition On 9/11 In the video, at about the 0:59 mark, a high-pressure explosion occurs in one of the Twin Towers, below the impact zone, while the building is still standing.

Update: Mile-Long Oil Sheen Reported Spreading From Site Of Gulf Platform Explosion The Coast Guard is on the scene of another oil rig fire in the Gulf of Mexico. Officials are now reporting a mile-long oil sheen spreading from the site.

Karzai’s brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate As depositors thronged branches of Afghanistan’s biggest bank, Mahmoud Karzai, the brother of the Afghan president and a major shareholder in beleaguered Kabul Bank called on Thursday for intervention by the United States to head off a financial meltdown.

Mexico drug kingpin says he received trailers of US cash A captured Mexican drug kingpin admitted to “investments” in Colombia and said he had received trailers full of dollars from the United States, in a first interrogation video released here.

‘Iraq war based on lies and deception’ Former Reagan Administration official Paul Craig Roberts says that we didn’t hear why we initially went to war with Iraq, although the world knows was based on lies and deception.

Pakistan military abandons US trips after being ‘mistaken for terrorists’ Pakistani officials said the officer, weary from the journey to the US, had said, “I hope this is the final plane to the destination” causing a female passenger, who believed he was threatening the aircraft, to panic.

`Drudgereport: TIME: (WOBAMA) MR. UNPOPULAR...`         `FLASHBACK: (WOBAMA) TIME MAN OF THE YEAR 2008... Calls for USA to shore up Afghanistan Bank as withdrawals accelerate...UPDATE: Oil rig explodes in Gulf of Mexico; 7 active wells on platform...`
`COAST GUARD: Mile-long 'oil sheen' spreading...`

`Russian police raid opposition magazine... [They don’t often do this overtly in america anymore since most media is in cahoots / controlled; but still, no excuse for putin who is often disengaged as when he is out shooting Siberian Tigers with sophisticated weaponry. ] Pledge beaten by sorority sisters who warned her 'snitches get stitches'...` ‘… In her lawsuit, excerpted here, Howard noted that she had originally planned to pledge Alpha Kappa Alpha, the oldest African-American women’s sorority. But since the sorority’s San Jose chapter has been suspended due to hazing activities, Howard opted to join Sigma Gamma Rho, believing that “they represented the ‘sisterhood’ she sought in a sorority.” However, Howard contends, that the group’s pledge process was far from sisterly. According to her complaint, she and fellow pledges were punched, slapped, kicked, slammed into walls, struck with a wooden spoon and a cane, and had books and coins thrown at them during a series of 16 nighttime initiation sessions. Howard recalled one evening when a sorority sister told her to close her eyes. She was then struck on the buttocks with what she later learned was a kitchen pot. The pledges were also frequently struck with a wooden paddle, Howard said, blows that left her with welts on her buttocks. Howard reported that pledges were repeatedly warned not to talk with friends and family about the initiation process, since “snitches get stitches.” They were also told that if they failed to participate in certain pledge activities, they would be “jumped out,” a gang term for a beating conducted by all members of the group. Howard’s complaint names as defendants San Jose State University, Sigma Gamma Rho, and various sorority members, including a quartet of women who, court records show, pleaded no contest earlier this year to misdemeanor hazing charges. The defendants--Princess Odom; Monique Hughes; Joslyn Beard; and Nicole Remble--were each sentenced to 90 days in jail, directed to serve two years of court probation, and barred from involvement with any sorority. Odom, Hughes, Beard, and Remble (all negroes) are pictured here, clockwise from upper left, in San Jose Police Department mug shots.’

Predicting This Year's Bank Failures ‘The FDIC’s quarterly banking profile, providing data for quarter 2, was released today. The number of 2010 United States bank failures will likely exceed the 2009 failures, the FDIC reported. This was as I reported in this space back in May. Thus far this year there have been 118 bank closings, which compares to about 80 by the same time of year in 2009. The number of banks on the problem list is still rising. It is now at 829 banks…’

Pa. capital nearing bankruptcy (Washington Post) [ Sounds like a dry run for the nation’s capital. `Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable … Everyone who is capable of thinking` knows america is defacto bankrupt. The question is, how did Morgan Stanley’s assessment escape scrutiny and follow-up by the press. Indeed, it is certainly a breach of duty to have done so in light of the implications. ] In a highly unusual move, the city of Harrisburg says it will not make a $3.3 million payment.

Automakers report weak sales (Washington Post) [ This really is sobering, yet totally lost on the frauds that be on wall street. ‘Cheapskates’? Mr. Whoriskey should be ashamed of himself. After all, you can’t spend what you don’t really have (unless you’re defacto bankrupt … america ) and, let’s not kid ourselves, Mr. Whoriskey has to be considered somewhat ‘ivory tower’. ] Chastened by the recession, more U.S. consumers have become cheapskates: They are saving more and driving older cars. And that, in part, explains the historically dismal sales reports released Wednesday by automakers.

Manufacturing rebound spurs stock rally (Washington Post) [ Riiiiight! That new global hub of (very high priced) manufacturing activity … Defacto bankrupt america …I don’t believe the ISM number for even a minute, even with the defacto bankrupt government’s market-frothing spending of money they definitely don’t have and believe the forecasters were closer to reality.] After their worst August in nine years, stocks kicked off September with a big snap-back rally, following the release Wednesday of surprisingly good news about the U.S. manufacturing sector.

Obama prods Mideast leaders (Washington Post ) [ The real question is … who is going to prod defacto bankrupt, war crimes nation america … on peace, that is. Then there’s that ‘oh, it’s just war crimes, illegal nuke-toting israel … laws, rules, un resolutions, etc., don’t apply to them factor and the concomitant skepticism attendant thereto. ] Israeli Prime Minister Netanyahu and Palestinian President Abbas are set to open direct peace talks.

Five reasons to be optimistic about the economy (Washington Post) Neil Irwin |(Very) Political Economy [The unflappable Mr. Irwin. Fraudulent wall street’s shill and man for all seasons falls in with the following as his glass half-full runneth over: Those Who Ignore History... [The aforementioned from The Pragmatic Capitalist is a cogent summary of extant problems which undoubtedly will end quite badly for the unwary (today’s folly represents a great opportunity to sell / take profits), infra, and should be read in tandem with Graham Summer’s exposé which follows. Yet, the situation as realistically bad as they’ve so presented same, is far more dire than even they posit for the u.s. particularly owing to structural problems now inherent to america’s economy / business model which bodes ill as never before in america’s relatively short history. U.S. Stocks Surge On Overseas Growth Riiiiight! Some of the same mainstream, (msnbc) ‘money honey’ drivel one would expect from Forbes faux ‘capitalist tool’ cheerleading squad, totally devoid of forward-looking analytical prowess and leaves you burned every time. Come on! Government Motors and Ford sales were down significantly, construction spending down, private sector jobs lost, and even BofA’s Merrill Lynch has sugar-coated the reality cutting the wall street frauds a break by calling this a ‘growth rececession’. The typical fraudulent wall street churn-and-earn computerized trade scam with built in commission volume for the way down. Sorry to say it, but the reality is: This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]
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 Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.] The Pragmatic Capitalist ‘My position over the last 2 years has been as follows: this is a Main Street debt crisis. I have been highly critical of the government’s incessant interventionist policies over the last few years largely because they ignore the actual problems at hand. First it was Mr. Bernanke saving the banks because he believed the credit crisis started with the banking sector. The great monetarist gaffe ensued. Tim Geithner piled on with the PPIP. FASB jumped on board the bank rescue plan by altering the accounting rules. And then the icing on the cake was the Recovery Act, which, in my opinion, just shoveled money into the hole that had become the output gap, without actually trying to target the real cause of the crisis – those burdened by the debt. In essence, the various bailouts primarily targeted everyone except the people who really needed it.

U.S. Auto Sales May Hit 28-Year Low as Discounts Flop Bloomberg | U.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs.

A Termite-Riddled House: Treasury Bonds Gonzalo Lira | The United States will have a fiscal-debt-to-GDP ratio of 100% this year, and 110% next year — if not higher.

The Reckless Mess Created by The Fed Quantitative easing will put the American public at ease, at least temporarily. They do not realize it but the American and world economies are in a deliberate state of slow collapse. Yes, the Fed has created a terrible mess. They have been totally unprofessional and reckless.

Gold Is Surging This Morning, And Within A Rock’s Throw Of A Brand New Record Oh hello. The high is just above $1260, so it could happen today easily. Stocks are rallying, too, so you know the dollar is getting whacked. It is.

Second Leg of Crisis Beginning: Hedge Fund Manager September and October hold bad news for stock markets and banks remain overleveraged as we head into the second leg of the financial crisis according to Pedro De Noronha, the managing partner at Noster Capital in London.

Winners And Losers The reality is that it has now become undeniable that globalism has arrived and we are now part of a world economy that is integrating at lightning speed. Unfortunately, all of this globalism has created some very clear winners and losers. But most middle class Americans are in such a deep sleep that they don’t even realize that they are the losers.

National / World

Death By Globalism Paul Craig Roberts | The Federal Reserve will monetize the federal government deficit. The result will be high inflation, possibly hyper-inflation and high unemployment simultaneously.

What Obama Didn’t Say About Afghanistan Ray McGovern | My Fellow Americans… so much for Iraq. Turning now to Afghanistan …`48 HOURS: 21 American soldiers killed in Afghanistan...`

Vaccine Death Coverup Implodes Worldwide Infowars.com | Once again the government wants to push it’s mercury filled vaccines on everyone, especially children.

Drudgereport: `Auto sales: Worst August since 1983...`
`AMERICA RUST-` `India's economy races 8.8%...`
`Russian economy grows 4.0%...`
`German unemployment rate 7.6%...`

`FDIC MESS: 829 BANKS AT RISK... 48 HOURS: 21 American soldiers killed in Afghanistan...`

`Worst August For Stocks Since 2001...`

`Congressional Travel Stipends Probed...`
`Dems face midterm meltdown...`
`Ron Paul questions whether there's gold at Fort Knox, NY Fed...`

`Dow Falls 140 Points; Banks, Industrials Slide...`
`1 OUT OF 6 TAKE GOV'T AID... Homelessness Up 50% In New York City... OBAMA BLAMES BUSH AGAIN FOR ECONOMY … [ bush (et als) does deserve blame but with flawed pro-fraudulent wall street among other non-policies and continued nation-bankrupting war, wobama is a distinction without a difference and has bought it and can no longer shirk responsibility with the blame game ] ... Iran state media call French first lady prostitute...`

`EDUCATION SEC URGED STAFF: GO TO SHARPTON RALLY`

Increase in federal spending hits record (Washington Post) [ Sounds like a plan … the ‘increase the depth of the nation’s bankruptcy’ plan! And, unlike other american plans, this plan’s working … that bankruptcy thing … but otherwise, not! ]

Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of the U.S. Courts recently reported that bankruptcy filings between April and June hit a four-year high. Consumer bankruptcies rose 21 percent while business bankruptcies increased eight percent. The list of corporate bankruptcies over the last couple of years includes big names like Lehman Brothers, Washington Mutual, and GM. And financial institutions like Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo** (NYSE: WFC) received billions of dollars through the federal government's Troubled Asset Relief Program. Should investors add the U.S. government to that list of big name bankruptcies? I recently asked Boston University economics professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking.
**Mac Greer: Larry, I noticed the headline or the title of a recent article that you wrote, US is Bankrupt and We Don't Even Know It (see infra)

Home prices up 4.2 percent in U.S. (Washington Post) [And america and ultimately taxpayers paid for every percentage point with money they and soon taxpayers don’t have and experts say the expiration of same will further be felt in the form of declining real estate prices going forward. ]

For banks, good news on earnings but not risk of failure (Washington Post) ( The same fraudulent game plan that caused the previous and continuing debacle: The following from Graham Summers is truly mind-boggling and a must-read: WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the lunatic frauds on wall street are criminally insane and the only way to stop / deter their debilitating churn and earn among other computerized frauds is prosecution, jail, fines, and disgorgement! Once again they’re back to their huge fraudulent gains as seen this reporting period despite growing problem bank list, worthless paper from the prior fraud in the (hundreds of) trillions now marked to anything and the current fraud, and look at August (market) results and worse to come, that money for their commissions / premiums must come from someplace, viz., the bubble which will crash. ] ) Lenders post their biggest quarterly profit in almost three years, even as the number of banks at risk of failure rose to 11 percent of insured institutions.

Obama: 'It is time to turn the page' on Iraq war (Washington Post) [ Oh come on! How patronizing to have wobama spew his b* s* which b.s. has become synonomous with wobama; ‘to give Iraqis the chance to shape their future’… Iraq’s been destroyed, covered in cancer-causing depleted uranium, america’s defacto bankrupt, etc. If only teleprompters had a brain of their own. ] He says the U.S. "has paid a huge price" to give Iraqis the chance to shape their future -- a price that now includes more than 4,400 U.S. dead.

U.S. looks to replicate Iraq strategy, tactics (Washington Post ) [Oh right! Stick with that winning plan that worked so swimmingly (as in drowning, in ie., debt, death, regional if not wordly anti-american sentiment, etc.)]. In Kandahar, U.S. military officials hope that a secure green zone, similar to the area in Baghdad, will make it more difficult for Taliban insurgents to mount attacks to key buildings in the Afghan city.

7 U.S. troops die in Afghanistan violence (Washington Post) [ I was discussing my opposition to the contrived conflict in Iraq with a former air force man with high (top?) security clearance from economic, geopolitical, and humanitarian perspectives; and further, mentioned I had sought and gotten an appointment to West Point (I was exempt) so I could go (Vietnam) as an officer rather than a grunt who were being used as mere cannon fodder as now in Iraq (I also related the fact that I am thankful, for a multitude of reasons, I changed my mind in light of then new realities). He replied, quite seriously, that’s what they’re there for… No they are not! But yes, that is their unequivocal, unforgiveable attitude beyond the b* s* (look at cheney-5 deferments, bush-powderpuff duty courtesy of poppy bush, clinton-draft dodger, wobama-never served, etc.. Just a destructive waste!) The latest deaths bring to 42 the number of American forces who have died this month in Afghanistan after July's high of 66.

Ron Paul to Fed, Ft. Knox: Show Me the Gold at Minyanville

The Deteriorating Macro Picture ‘Over the course of the last 18 months I’ve been adhering to a macro view that can best be summed up as follows:

The explosion in private debt (excessive housing borrowing, excessive corporate debt, etc) levels would reveal the private sector as unable to sustain positive economic growth, de-leveraging and deflation would ensue.

Government intervention would help moderately boost aggregate demand, improve bank balance sheets, improve sentiment, boost asset prices but fail to result in sustained economic recovery as private sector balance sheet recession persists.

Extremely depressed estimates and corporate cost cutting would improve margins and generate a moderate earnings rebound, but would come under pressure in 2010 as margin expansion failed to continue at the 2009 rate.

The end of government intervention in H2 2010 will reveal severe strains in housing and will reveal the private sector as still very weak and unable to sustain economic growth on its own.

The rebound in assets was surprisingly strong and the ability of corporations to sustain bottom line growth has been truly impressive – far better than I expected. However, I am growing increasingly concerned that the market has priced in overly optimistic earnings sustainability – in other words, estimates and expectations have overshot to the upside.

What we’ve seen over the last few years is not terribly complex in my opinion. The housing boom created what was in essence a massively leveraged household sector. The problems were compounded by the leveraging in the financial sector, however, this was merely a symptom of the real underlying problem and not the cause of the financial crisis (despite what Mr. Bernanke continues to say and do to fix the economy) …’

Gold Surges To Near $1,250, As Stealthy Flight To Safety Accelerates, Stocks Oblivious As stocks continue to correlate with exactly nothing, and are once again lost in their own HFT dreamworld, which fools Atari in believing the toxic crap it is churning millions of times each second is worth something (and the exchanges gladly continue to pay liquidity rebates for said churn), the capital continues to quietly flow to safety.

Bankrupt Miami in Fiscal Emergency, Breaks Employee Contracts, Hikes Property Taxes In an enormously foolhardy attempt to make ends meet, in spite of the fact that Miami home prices have been hammered and 1-in-8 are unemployed, the County keeps pouring on the painful tax and fee increases.

Gold Rallying to $1,500 as Soros’s Bubble Inflates Investors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most- accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds.

30 Statistics That Prove The Elite Are Getting Richer, The Poor Are Getting Poorer And The Middle Class Is Being Destroyed Not everyone has been doing badly during the economic turmoil of the last few years. In fact, there are some Americans that are doing really, really well. While the vast majority of us struggle, there is one small segment of society that is seemingly doing better than ever.

In the Eye of a Financial Katrina - http://seekingalpha.com/author/wall-street-sector-selector Sunday, August 29th, was the fifth anniversary of Hurricane Katrina’s landfall along the Gulf Coast and all of us vividly remember the horrific images of that day and the days and weeks after. Five years later, the Gulf Coast has come a long way but most would agree there’s still have a long way to go and many scars yet to be healed. In the world of money and investing, the Financial Katrina hit three years ago this month with the beginning of the sub prime meltdown that led to the “Great Recession.” For the past year or so, we have been in what appeared to be a recovery but now looks more like the eye of the storm; today it is quite likely that the second wall of the hurricane is now rapidly bearing down upon us. The news this week was intensely negative and the only bright spot came on Friday with Chairman Bernanke’s speech at Jackson Hole in which he essentially told us, “don’t worry, be happy” and that all would be well. In spite of the Chairman’s calming tone, Wall Street Sector Selector remains in the “red flag flying” mode and we believe that an intense storm lies just ahead. Looking at My Screens** On a technical basis, one can only be bearish and the two charts below tell a quick and scary story. [ chart courtesy of StockCharts.com ]In the chart of the S&P 500 above we see the “death cross” highlighted by the downward pointing arrow wherein the 50-Day Moving Average crossed below the 200-Day Moving Average which is a widely followed indicator of lower stock prices ahead. In the upper box we see the 14-day RSI pointing upwards from relatively oversold levels indicating that a short term bounce could be forthcoming, while the red horizontal line shows the support at 1040 which was tested and held every day last week. From this display we can conclude that we are in a bear market, slightly oversold and near support that, if broken, could lead to a quick drop to the July lows of 1010. [ chart courtesy of StockCharts.com ] The point and figure chart above paints an even more ominous picture. A double bottom “sell” signal was generated on August 11th and the index has now broken through the blue bullish support line, indicating the onset of a new bear market in this major index. Support and resistance lines in point and figure charting tend to act like firm walls and mark major turning points in direction, and this recent trend change is the first since March, 2009, when the lows were hit and last year’s unprecedented rally began. The breach of this bullish support line is a major development and in my opinion is an unmistakable sign that it’s time to head for the storm shelters. The View from 35,000 Feet The fundamental news was equally shocking this week as existing home sales declined to 3.8 million units for July from a previous level of 5.26 million. This number is a record low and single family home sales were at the lowest levels since 1995. Truly we are in what could only be described as a housing market depression, and this comes in spite of historically low mortgage rates that people appear to be ignoring. Seemingly almost nobody wants to buy a house at any rate or any price. New home sales fared no better, declining to record lows, as well, while 25% of mortgage holders are currently “upside down” in their homes, owning more than they’re worth, and 15% are in some part of the foreclosure process. Beyond the dismal news from the housing market, the July Durable Goods report was dismal and points to an ongoing slowdown in capital spending and on Friday 2nd Quarter GDP was revised downward to 1.6% from a previous 2.4% in what could only be described as a terrifying result in light of the stimulus and Federal Reserve intervention required to generate this paltry number. More and more analysts are pointing to further reductions in GDP for 3rd Quarter towards flat or even negative territory while the stock market seems currently priced for 1.5-2.5% growth and this creates a situation which is unlikely to have a positive outcome going forward. Looking across the spectrum of noted analysts, we find Princeton economist and former Federal Reserve member Alan Blinder writing an article in the Wall Street Journal titled, “The Fed is Running out of Ammo” and noted Yale economist Robert Shiller appeared on the Wall Street Journal’s “Big Interview” and said that a double dip “may be imminent.” And finally Albert Edwards, the noted analyst from Societe General says to look for 450 on the S&P 500, a roll back to 1982 levels. Fidelity reports that in the second quarter 25% of people took hardship withdrawals from their 401ks, a number that represents a 10 year high, to help them meet living expenses and the ECRI remained in recessionary territory with a -9.9% reading last week. On Friday Intel (INTC) cut its earnings and revenue forecast and across the Atlantic Ireland was downgraded and given a negative outlook by S&P. Also in Europe, interest rates and Credit Default Swap pricing continued to rise as their sovereign debt situation continues to erode confidence in the outcome of the European Central Bank’s historic intervention efforts of a couple of months ago. The bond market remains priced for Armageddon, forming what many say will one day be the biggest bubble of all time and lead to a historic crash in the bond market somewhere down the road. But on Friday, Dr. Bernanke cheered world markets when he told us that he expected no double dip, that growth would continue and improve and that he and his colleagues stood ready to do whatever it takes to avoid deflation and that he had the tools to lead the global economy to recovery. This upbeat assessment comes after unprecedented government stimulus, interest rates lowered to near zero and $1.7 Trillion of asset purchases by the Fed since the onset of the Great Recession. So one can only wonder how this is going to work. If the medicine hasn’t worked so far, why would a little more of the same medicine make a difference? What It All Means As we’ve been saying for weeks, a double dip looks highly probable with the odds growing daily, lower stock prices look likely and to make your chest feel even tighter, summer is almost over, traders will be back from the Hamptons, the kids will be back in school and we’re about to enter the dreaded month of September which is historically the worst month for stock market performance. At Wall Street Sector Selector, we remain in the “Red Flag” mode, expecting lower prices ahead, and we forecast that the second storm wall of the Financial Katrina is about to hit. The Week Ahead To say that a major week lies ahead is a massive understatement. Economic Reports: A busy round of economic reports this week will give us a look at personal income and spending, home prices, manufacturing and what the Federal Reserve really thought at their recent meeting with everything leading up to the climactic Non Farm Payroll report on Friday. Certainly all of this will be food for thought going into the long Labor Day weekend. Tuesday: 0900: Case/Shiller 20 City Home Price Index 0945: August Chicago PMI 1000: August Consumer Confidence. 1400: FOMC Meeting Minutes Wednesday: 0815: July Construction Spending 1000: August ISM Index 1400: August Auto Sales Thursday: 0830: Initial Unemployment Claims, Continuing Unemployment Claims 1000: July Factory Orders 1000: July Pending Home Sales Friday: 0830: August Non Farm Payrolls 0830: August Unemployment Rate 1000: ISM Services Sector Spotlight: Leaders: Silver, Oil, Copper Laggards: Mexico, Global Shipping, South Korea This week we’re heading for Southwest Florida for a last week of R&R before school starts and reality strikes after the long Labor Day weekend. We hope to have a nice time on the beach and not see any tar balls between our toes. Sadly, I’m sure this year’s Labor Day celebration won’t be a particularly happy occasion for the 14.6 million of our fellow citizens who remain unemployed and I can only wish them the very best and a speedy return to gainful employment and happier days ahead. Disclosure: RWM, PSQ, SH, SEF, EFZ, SKF, VXX, S&P 500 Put Option

Obama promises new efforts to boost economy (Washington Post) [ New efforts with the same old failed team covering for the previous same old failed team? The same promised new efforts which were nothing new at all; viz., focus on new war in Afghanistan, increase budget deficits, a penchant for the very perps who precipitated the financial crisis and who should have been prosecuted, jailed, fined and disgorgement imposed, etc.. No details? What’s the matter wobama? Teleprompter not working? ]Obama offered no new proposals during brief remarks in the Rose Garden, saying he would provide details "in the days and weeks to come."

Car sales, spending up, but experts not convinced of trend (Washington Post) [ I’d say time for ‘mouth to mouth resuscitation’ and a closer look isn’t even necessary. Some experts? Just ask any guy on main street. Treading water? I’d say time for post-mortem on the drowning victim.] But a closer look at those car sales raises questions about whether the auto market - and consumer spending as a whole - are indeed on an upward arc or whether they are just treading water.

Obama to loosen rules on technology exports (Washington Post) [ Oooooh! Sounds like a continuation of the ‘clinton plan’ regarding missile among other technologies to China which worked so well for america in maintaining its prominently global position vis-à-vis communist china et als. Come on! wobama’s so done! Let the next president determine the probity of such a course! ] White House is overhauling the decades-old rules for the export of sensitive military and other technology, jettisoning what industry groups criticize as an antiquated "Cold War" set of regulations.

In the Middle East, it's still 1947 (Washington Post) [ Indeed it should be! Among the few times the cia was correct, and they’ve been trying to put square pegs in round holes ever since, to america’s substantial detriment. I wonder what what those american sailors of the US Liberty killed by the israelis would say? USS Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney, decorated war hero and survivor of Israel’s premeditated attack on the USS Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened by a foreign national claiming to work for the government of israel. As for the purported disdain shown for war mongerer netanayahu, if only wobama’s actions matched his words, the same would represent a major plus for him and the nation of america, so sorely in need of pluses whether the same be budgetary or economic or geopolitical. In fact, for America to abrogate 1948 would guarantee America’s survival, prosperity, and global hegemony in the most positive sense. ]

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

Obama speech on Iraq has risks (Washington Post) [ Yeah, very true indeed! The main one being that he’s supplanting that illegal, unnecessary, nation-bankrupting war with yet another in Afghanistan which will not be lost on those who supported his candidacy based on promised end to unnecessary war policies which have diverted time, attention, ill-afforded resources including personnel and continue to do so even as defacto bankrupt america crumbles. ]

National / World

Fluoride Is Toxic Ryan Banister | There is an array of historical incidents where fluoride caused overwhelming health problems.

Spy Satellites Used to Control American Citizens Kurt Nimmo and Alex Jones | The surveillance grid is not about saving us from al-Qaeda, but is designed to be used to track and ultimately control the movement and liberty of the American people.

Alex Jones: In Every Case in History, Slaves are Disarmed RTAmerica | The United States constitution says that every citizen has the right to own and carry arms.

JFK Truth, Drugwar: The People Strike Back Corbett Report | The corporate media shows signs they may report objectively on some of the news.

Jim O’Neill Suggests It May Be Time For The US To Give Up On Our Own Middle Class, And Focus On China’s Zero Hedge | China will be ecstatic that the US will now be funding the development of its own middle class. As for ours… Oh well.

The Elites Have Lost the Right to Rule Zero Hedge | When you get too many people of a particular mindset (in this case highly quantitative and academic) to aggregate in a field that is very much a people business and one where “street smart” common sense is of extreme importance you are asking for serious trouble.

Ron Paul: Where Is the Gold? [ As I’ve previously written, I believe that beyond the gold plate, Fort Knox has been looted. ] New American | Congressman Ron Paul revealed that next year at the start of the newly inaugurated 112th United States Congress, he would introduce a new bill to audit the U.S. gold reserves.

Ron Paul: ‘There Might Not Be Any Gold In Fort Knox’ Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it’s “a possibility” that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.

Obama’s Department of Justice Puts Out Master Patriot Hit-list The word constitutionalist is now shorthand for the sovereign citizen movement, in other words people who support the Constitution and the Bill of Rights are violent cop killers.

Government Think Tank Calls For Infiltrating Conspiracy Websites Furious that state involvement in major terror attacks is being exposed to a wider audience than ever before via the Internet, a UK think tank closely affiliated with the Downing Street has called for authorities to infiltrate conspiracy websites in an effort to “increase trust in the government”.

Report: Israel planning to attack Hezbollah arms depots in Syria Israel is planning to attack Hezbollah arms depots and weapons manufacturing plants in Syria, the Kuwaiti newspaper Al Rai reported on Saturday. The report is based on Western sources who asserted that Israel has increased its military force level along the northern border in the Golan Heights and Mount Dov areas.

USS Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney, decorated war hero and survivor of Israel’s premeditated attack on the USS Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened by a foreign national claiming to work for the government of Israel.

EU Popularity Plunges Right Across the Bloc People’s confidence in the the European Union has dropped to record lows in most countries amid a placid response to the rising unemployment and the troubles of the eurozone, a Eurobarometer published on Thursday shows.

China’s Central Bank Chief Rumored To Have Defected Rumors have circulated in China that People’s Bank of China Gov. Zhou Xiaochuan has left the country. The rumors appear to have started following reports on Aug. 28 which cited Ming Pao, a Hong Kong-based news agency, saying that because of an approximately $430 billion loss on U.S. Treasury bonds, the Chinese government may punish some individuals within the PBOC, including Zhou.

Bernanke, other leaders talk economic policy (Washington Post) [Yeah, they can talk the talk, but we all know based upon reality, ie., that no-recession thing aka financial debacle / disaster, etc., we’re still feelin’ in a very big way, they just can’t can’t walk the walk!]

Google wants in on the social networking game (Washington Post) [ I’ll bet they do … and as a cia/nsa front, if you’re a sound thinker and arrange a meet with a newfound friend thereon, be prepared for almost anything; ie., guns with silencers, garroted from behind, knife attacks, sudden acceleration of cars toward you when crossing crosswalks, etc. ] This Tweet -- "Google to launch Facebook competitor very soon" -- unleashed a sense that the online world as we know it was about to fundamentally change.

Stocks up [america down] (Washington Post) Previously reported economic growth, upon which hundreds of rally ‘points’ were predicated, revised down by 50% of the actual 1.6%. This is typical but no small laughing matter which bespeaks the wayward ways of wall street that got us to this debacle which also includes defacto bankruptcy of the nation. So, GDP down, consumer confidence down, and stocks rally like no tomorrow (which is the fraudulent wall street time horizon … they’ll just commission on the way down). Am I missing something here, particularly when a more sobering view from a rational player, INTEL, is far more credible? One former fed chair likened no-recession-helicopter ben bernanke’s factually deficient, empty words to ‘a doctor telling a patient he’s not sure of what the problem is (that economic uncertainty thing he referenced), but if his leg gets worse he can always amputate.’ Previously, as pertains to the jackson hole no-recession-helicopter-ben b* s* non-event / talk. Fed action signals new activism (WP) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

Fed vows to act if economy stalls (Washington Post) [ Wow! Really! Sounds like a plan! A ‘no-recession-helicopter-ben’ plan! One former fed chair / bk. pres. likened no-recession-helicopter ben bernanke’s factually deficient, empty words to ‘a doctor telling a patient he’s not sure of what the problem is (that economic uncertainty thing no-recession-helicopter-ben referenced), but if his leg gets worse he can always amputate’

New rules for your money (Washington Post) [What they really mean refers to the lack thereof; that new defacto bankrupt american reality and all that flows therefrom in the most negative sense. ] Kiplinger's Personal Finance In this era of high unemployment, flat home prices and do-it-yourself retirement savings, some traditional rules of saving and investing are due for an overhaul.

Why is the recovery faltering? (Washington Post) [ Oooooh! ‘Dat ben! He gives such great, unctuously soothing talks. Along with wobama, we must consider this time, a time for defacto bankrupt American decline with the cocomitant rise of b* s* . The watchwords are no longer (as in Hollywood and elsewhere) ‘pastics’, ‘computer chips’,   but rather b* s* and more b* s! I truly must say, almost as a ‘revenge to Samuelson economics kind of thing’, that Mr. Samuelson here talks symptoms rather than (structural) causes and totally misses the (big) macroeconomic picture and should be chastised for faulting prudence.]

Make Sure the Bunker is Well Stocked Mike Whitney Information Clearing House August 29, 2010 Robert Herz was forced to resign from his job as as chairman of the Financial Accounting Standards Board (FASB) because he insisted that the banks assign a fair value to their assets. That’s not what you’ll read in the papers, but it’s true just the same. Herz [...]

“Monetary Shock and Awe”: The Fed prepared to launch most Radical Intervention in History There’s no talk of green shoots any more, and even the deficit hawks have gone into hibernation. It feels like the calm before the storm, which is why all eyes were on Jackson Hole this morning where Fed chairman Ben Bernanke delivered his verdict on the state of the economy on Friday.

Debt, Depression, Default. America is in Deep Trouble Items we customarily purchase, i.e., shoes, clothes, cars would become too expensive. Consequently, the American financial woes would result in a global financial decline. The enviable American standard of living will decrease and the next generation will be saddled with insurmountable debt, not of their making.

The US Government Matches Every Dollar In Tax Revenue With A Dollar In New Debt In our attempts to simplify the comprehension of the ongoing serfdomization of the US population, we would like to present one of the more persuasive charts which the administration would likely be loath to demonstrate.

Helicopter Ben Bernanke Says Everything Is Going To Be Okay Don’t worry everybody. Federal Reserve Chairman “No Recession Helicopter Ben” Bernanke says that the U.S. economy is going to be just fine, and that if it does slip up somehow the Federal Reserve is ready to rush in to the rescue. That was essentially Bernanke’s message to an annual gathering of central bankers in Jackson Hole, Wyoming on Friday.

China is Unloading its Treasury Bonds Oil Price | It looks like the smart money these days is found in China.

Collapse Survival Will Be Tribal: Begin Recruiting Now Human World Order | The controllers are orchestrating the collapse of the American economy and society right now, albeit in slow motion, but it is already crumbling.

The US Government Matches Every Dollar In Tax Revenue With A Dollar In New Debt In our attempts to simplify the comprehension of the ongoing serfdomization of the US population, we would like to present one of the more persuasive charts which the administration would likely be loath to demonstrate.

Mullen: National Debt is a Security Threat [Daaaaah!]The national debt is the single biggest threat to national security, according to Adm. Mike Mullen, chairman of the Joint Chiefs of Staff. Tax payers will be paying around $600 billion in interest on the national debt by 2012, the chairman told students and local leaders in Detroit.

U.S. birth rate falls again, a possible effect of economic downturn The number of babies born in the United States has dropped for the second year in a row, according to new federal statistics released Friday that provide more evidence that the nation’s economic troubles are affecting the birth rate.

Is Ben Lost? [Yes!] Butter ‘The much awaited speech by Ben Bernanke, on Friday, was a bit of a non-event. It was interesting, however, to see the 30 Year bounce, from 3.55% to 3.7%, the moment that Ben explained his cunning plan to push long-term interest rates down. But at least we learned that $140 billion of the $1.25 billion the Fed advanced to buy agency debt and MBS, got repaid. One question Ben: “How much did you pay for the $140 billion that got repaid? Did you make a profit, or are you going to wait until Ron Paul’s audit before you let us know how that went?.” I know I’ve got a dirty mind, but I can’t help thinking that if Ben had made a profit on that transaction, he would have been crowing about it. I loved this bit, particularly the “Thus”:

Thus, our purchases of Treasury, agency debt, and agency MBS likely both reduced the yields on those securities and also pushed investors into holding other assets with similar characteristics, such as credit risk and duration. For example, some investors who sold MBS to the Fed may have replaced them in their portfolios with longer-term, high-quality corporate bonds, depressing the yields on those assets as well.

Hmm…

Even Alan Greenspan and Larry Summers conceded that there is absolutely nothing that the Fed can do to change long-term Treasury yields. But, now Ben the Boy is saying that he can do that, he must be Superman!

Good to see that Superman is also taking the credit for pushing down yields on agency debt and toxic MBS. Obviously he is a genius, the Maestro is re-incarnated, Err…but here is one little thing; he’s the only guy buying that garbage.

Oh, and whoopee, Ben thinks that the “investors” (translate deadbeat zombie banks), who sold him their (toxic) MBS, have all rushed out to buy corporate bonds. I’m not quite sure what planet he’s on. I thought they either kept the money on deposit with the Fed, or bought Treasuries to repair their capital adequacy. Note the “may”…as if he didn’t know!

But this was the kicker, admittedly hidden away between jargon-heaped on jargon, but there all the same:

(Al those good things managed)... provide further support for the economic recovery while maintaining price stability, the Fed has also taken extraordinary measures to ease monetary and financial conditions.

I especially love the part about “further” support. As if the banks are going out and lending money to Main Street, as opposed to simply using their free, Fed supplied, get-out-of-jail card to create an illusion of solvency whilst they “extend and pretend”. Similar to what happened in Japan after their bubble burst. The real gem, however, was the idea of “maintaining price stability”. What that means is stopping assets prices (house prices, commercial real estate, and to some extent stocks) from going down to where they have to go, before market clearing can start. Funny how when asset prices were bubbling through the roof, that was not considered “inflationary” by the Fed and was not something to be concerned about. But, when asset prices fall through the floor, that is considered deflationary (or disinflationary), and is very bad. Ben looks to me suspiciously like a greenhorn lost in the woods who used up all his ammo shooting at shadows. And yet, there is the Big Bad Wolf of private sector deleveraging faster than he can run the printing presses, (and more importantly, get that money out into the real world) lurking round the corner.’

Headed for a Double Dip_

Sotomayor Says Court May Rule to Limit First Amendment in Response to Wikileaks Kurt Nimmo | Sotomayor’s comment is a warning that the Supreme Court may soon use the Wikileaks case restrict the First Amendment.

The Nazification of the United States Paul Craig Roberts | September 11 destroyed American liberty, the rule of law and the US Constitution.

Fidel Castro: Osama bin Laden Worked for CIA Guardian | Fidel Castro reveals what many of us have known for years — Osama bin Laden was a prized CIA asset.

Conclusive: Global Distribution of Rockefeller-Funded Anti-Fertility Vaccine Coordinated by WHO Jurriaan Maessen | It is a dream long cherished by the global elite: an anti-fertilization program with the aim of reducing the world’s population

We Need A Revolution, Not A Movement Chuck Baldwin | The Tea Party movement, while still a force with which to be contended, has already been diluted and compromised.

Corporate Media Dismisses Castro’s Bin Laden Claim As Far-Fetched Conspiracy Theory The corporate media wasted little time in seizing upon controversial Cuban leader Fidel Castro’s comments about Osama bin Laden being a U.S. spy to deride the claim as a far-fetched conspiracy theory, and yet the fact that Bin Laden was once a CIA protégé and has been used time and again to the benefit of the U.S. government’s geopolitical agenda is a documented fact.

Drudgereport: `7 US troops killed in latest Afghanistan fighting...`

`Castro: Osama bin Laden is US spy...`
`PAPER: CIA secretly paying Afghan officials...`

7 U.S. troops die in Afghanistan violence (Washington Post) [ I was discussing my opposition to the contrived conflict in Iraq with a former air force man with high (top?) security clearance from economic, geopolitical, and humanitarian perspectives; and further, mentioned I had sought and gotten an appointment to West Point (I was exempt) so I could go (Vietnam) as an officer rather than a grunt who were being used as mere cannon fodder as now in Iraq (I also related the fact that I am thankful, for a multitude of reasons, I changed my mind in light of then new realities). He replied, quite seriously, that’s what they’re there for… No they are not! But yes, that is their unequivocal, unforgiveable attitude beyond the b s* (look at cheney-5 deferments, bush-powderpuff duty courtesy of poppy, clinton-draft dodger, wobama-never served, etc.. Just a destructive waste!) The latest deaths bring to 42 the number of American forces who have died this month in Afghanistan after July's high of 66.

U.S. officers weary and humbled (Washington Post) [ Indeed they should be; and, if they are able to make sense of the last 2 decades particularly, they are certifiably true american crazy, a condition in the u.s. and among it’s war mongering allies that is found in self-destructive abundance. No joke! And then there are the crimes / frauds. My position is also that such frauds as the disappearance of the 360 tons of $100 bills, etc., and similar such frauds should come right off the top, a direct reduction in their budget allocation particularly in light of the defacto bankruptcy of the nation! ] How Iraq vets make sense of the last seven years will affect how america wields its military power [very poorly indeed!] .

Is the U.S. exporting terrorism? (Washington Post) [The newspaper that never sleeps…The Washington Post

WikiLeaks Release: CIA Red Cell Special Memorandum – What If Foreigners See the United States as an ‘Exporter of Terrorism’ [Which of course is the reality, along with israel; you do recall those israeli operatives who were caught cheering the 911 hit, the so-called pearl harbor event so cherished by the neo-cons.] The document states, “This report examines the implications of what it would mean for the US to be seen increasingly as an incubator and ‘exporter of terrorism.’” However, it doesn’t go on to mention the U.S. state sponsored terrorist activities of the Proactive, Preemptive Operations Group (P2OG).

We’re Already In Recession [actually a depression] Harding ‘‘First let’s look at the trend. After an unusual four straight quarters of negative growth in the severe 2008-2009 recession, the recession ended in the September quarter of last year when GDP managed fragile growth of 1.6% for the quarter, and then improved to 5.0% growth in the December quarter.It was understood that much of that growth was temporary, fueled by government spending, and spending by consumers provided with government bonuses and rebates, as well as temporary rebuilding of inventories by businesses. But it was expected that with that jumpstart the recovery could continue on its own legs.So, it was a bit of a surprise when GDP growth slowed to 3.7% in the March quarter of this year while those programs were still having an influence. But economists still expected the economy would grow at a 3% pace in the June quarter even with those programs winding down, and for the rest of the year.So, it was a real disappointment when second quarter growth was reported a month ago as having been only 2.4%. Plus, when additional data became available for May and June, the last two months of the second quarter, and those reports were increasingly negative, economists predicted that Q2 GDP growth would be revised down to only 1.3%.On Friday, the revision was released, and it showed growth last quarter slowed significantly, but only to 1.6%, not as bad as the latest forecast.The media and the stock market, starving for good news–and with the market short-term oversold after being down 10 of the previous 13 days–took it as a positive. But let’s get real.The issue is not whether economists got their forecast right or wrong, but the degree to which economic growth is slowing. And a trend of 5% growth in the December quarter, followed by a 1.3% decline to 3.7% growth in the March quarter, followed by a 2.1% decline to 1.6% growth in the March quarter is a chilling rate of decline.Now factor in that economic reports so far for July and August, the first two months of the third quarter, have been significantly worse than those of May and June, and significantly worse than economists’ forecasts, with the relapse pretty much across the board; in the housing industry, manufacturing, retail sales, consumer and business confidence, the decline in U.S. exports, and so on.It’s not a stretch then to think that economic growth is declining by another increment of more than 1.6% this quarter, which would have it in negative territory, already in recession.In his speech Friday morning at the annual economic symposium in Jackson Hole, Wyoming, Fed Chairman Bernanke, while saying he still expects the economy to grow in the second half “albeit at a relatively modest pace” did not put forth a very convincing argument, using such phrases as “painfully slow recovery in the labor market”. . . “economic projections are inherently uncertain”. . . . “the economy is vulnerable to unexpected developments” . . . “the recovery is less vigorous than we expected.”Nor did he seem confident that the Fed’s depleted arsenal of tools to re-stimulate the economy would be effective if needed. Two of the four possible actions he mentioned seemed to suggest consumers and markets could be fooled into confidence with mere talk.His brief list of four possible actions were, “1) conducting additional purchases of longer-term securities [bonds and mortgage-related securities]; 2) modifying the Fed’s FOMC meeting communications to investors; 3) reducing the interest the Fed pays banks on their excess reserves. And I will also comment of a fourth strategy, proposed by several economists- namely, that the Fed increase its inflation goals.”Providing details on two of the four possible actions, he said, “The Fed’s current statement after its FOMC meetings reflects the FOMC’s anticipation that exceptionally low interest rates will be warranted ‘for an extended period’ . . . A step the Committee could consider if conditions called for it, would be to modify the language to communicate to investors that it anticipates keeping the target for the federal funds rate low for a longer period of time.”As for the fourth possible action in his list of four, he said the Fed could alter the phrases it uses to communicate its goals for inflation by “increasing its medium-term inflation goals above levels consistent with price stability.”That’s scary stuff if those are two of the four actions the Fed sees as its best options to re-stimulate the economy.Also of concern, in its report revising Q2 GDP growth down to just 1.6%, the Commerce Department reported that corporate earnings declined significantly in the second quarter, after-tax earnings rising just 0.1%, compared to the gain of 11.4% in the first quarter. Meanwhile, Wall Street continues to ratchet up its earnings estimates.On the positive side, consumer spending, which accounts for 70% of the economy, rose 2% in the second quarter, compared to 1.9% in the first quarter. But the bad news is that the reports since, on consumer confidence and retail sales in July and August, have been big disappointments.Putting it all together, don’t be surprised if a couple of months down the road we learn the economy was already in recession in the current quarter.’

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable … How did this escape mainstream … this is very big news though not new news but would be newly reported news which smart people knew was news before this news was even reported as news on the Drudge news web site … they deserved this redundancy for which there is no excuse in not covering ...`

Cramer Gets It Wrong With “Mass Panic” GDP Forecast [To the contrary, among the few times cramer got it right … I mean, come on … you don’t think that initial number and now this better than all forecasts is correct … one couldn’t be that dumb. ] Paul Joseph Watson | CNBC host predicts gross domestic product to shrink to an alarming 0.5 per cent.

Previously reported economic growth, upon which hundreds of rally ‘points’ were predicated, revised down by 50% of the actual 1.6%. This is typical but no small laughing matter which bespeaks the wayward ways of wall street that got us to this debacle which also includes defacto bankruptcy of the nation. So, GDP down, consumer confidence down, and stocks rally like no tomorrow (which is the fraudulent wall street time horizon … they’ll just commission the way down). Am I missing something here, particularly when a more sobering view from a rational player, INTEL, is far more credible. One former fed chair likened no-recession-helicopter ben bernanke’s factually deficient, empty words to ‘a doctor telling a patient he’s not sure of what the problem is (that economic uncertainty thing he referenced), but if his leg gets worse he can always amputate.’ Previously, as pertains to the jackson hole no-recession-helicopter-ben b* s* non-event / talk. Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

China is Unloading its Treasury Bonds Oil Price | It looks like the smart money these days is found in China.

Collapse Survival Will Be Tribal: Begin Recruiting Now Human World Order | The controllers are orchestrating the collapse of the American economy and society right now, albeit in slow motion, but it is already crumbling.

10 Leading Retailers Close Stores Mish’s Global Economic Trend Analysis | Signs of weak consumer discretionary spending are popping up in multiple places.

U.S. Postal Service Starts Quoting SDR to Dollar Conversion Rates, and IMF Endorses Replacing Dollars with SDRs I have repeatedly pointed out that it is possible that the IMF’s special drawing rights (SDRs) will become the world’s reserve currency. And as I noted in April 2009, there is some possibility that the “Bancor” will ultimately fill that role.

Why Are Home Sales Plummeting? On the surface, it is because the government’s tax-credit for first-time home buyers lapsed in April. It takes a couple of months lag-time between buyer purchase decisions and the actual close of escrow, and so the expiration of the tax-credit is just now hammering the market.

Bearish Sentiment Officially Reaching Fever Pitch Friday promises to be a huge day (at least in the early going) with both the Fed and the Q2 GDP revisions potentially giving investors more reasons to panic. The questions: is panic hitting peak levels?

`Drudgereport: Analyst: CITIGROUP 'Cooking the Books'...`
`Banks back switch to renminbi for trade; Incentives to move from dollar and euro... THE SPEECH: Bernanke under pressure to prop it up...'RECOVERY SUMMER' ENDS SICK`
`GDP REVISION: 1.6%`
`Says recovery softer, Fed prepared to buy more...`
`Weaker GDP raises stakes...`
`WIRE: What Biden didn't mention on stimulus...`
`ZUCKERMAN: The Most Fiscally Irresponsible Government in History … along with bushes’...`
`Joint Chiefs Chairman: National Debt is a Security Threat...`
`Recession pushes US birth rate to new low...`
`RECOVERY BUMMER: Youth employment lowest since 1948...`
`Thousands line up before dawn for mortgage help in Palm Beach County...`

Report on Fannie, Freddie gives new theory for collapse (Washington Post) Since ‘it’s always something’, time to contact Rosanne Rosanna Danna to straighten this out! Tiny tim geithner, God bless us everyone, ‘has also pointed to the weight of souring guaranteed loans as a source for the companies' troubles. …Riiiiight! Guarantee’s are the thing! … Rosanne Rosanna Danna, formerly of SNL fame needs to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds and what their frauds are on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Flow of imports drags down economic growth (Washington Post) [Ah, eureka! So that’s what did it! Nothing to do with transferring productive capability overseas / elsewhere as warned against by Ross Perot and celebrated by those long-term thinking frauds on wall street. Well, we still have the worthless paper to move around and commission as warned against by Morita of Sony fame.]

Chossudovsky: China could already be world’s largest economy

Stocks slip as caution about the economy returns Associated Press (Washington Post) [Caution? Is that what they’re calling reality these days? ] Stocks fell Thursday after early gains from a better report on jobless claims faded in late trading, sending the Dow Jones industrial average to its first close below 10,000 since early July.

Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of the U.S. Courts recently reported that bankruptcy filings between April and June hit a four-year high. Consumer bankruptcies rose 21 percent while business bankruptcies increased eight percent. The list of corporate bankruptcies over the last couple of years includes big names like Lehman Brothers, Washington Mutual, and GM. And financial institutions like Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo** (NYSE: WFC) received billions of dollars through the federal government's Troubled Asset Relief Program. Should investors add the U.S. government to that list of big name bankruptcies? I recently asked Boston University economics professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking.
**Mac Greer: Larry, I noticed the headline or the title of a recent article that you wrote, US is Bankrupt and We Don't Even Know It. So with that in mind, what is your take on the economy these days?
Larry Kotlikoff: Well there is a lot of uncertainty, as rightfully there should be. We have seen the financial sector implode basically because of the systematic production and sale of trillions of dollars of fraudulent securities under the cover of proprietary information, so nobody really had the ability to look inside big companies like Bear Sterns or Merrill Lynch to see exactly what they owned or owed. That problem remains today, even with the passage of Dodd-Frank. There is no requirement that the financial industry come clean with respect to what it is doing with our money, so every major financial player says you can't see what we are doing because we have the Midas touch. We are going to beat the market, and if we show you, everybody will see our secret formula for making you a mint. As a result, they have a great cover to produce fraudulent securities. And then when there is a sniff of fraud, one can easily presume that everything they are doing is fraudulent, which may not at all be the case. And then there is a run against those institutions as we saw with Bear Sterns and Lehman Brothers and all the other ones because of the perception that so much of their holdings were fraudulent and that their reporting was fraudulent. And of course the rating companies and the regulators and the boards of directors and the members of Congress were all, in effect, in bed with each other to achieve this result. I don't see anything that has fundamentally changed, so that is one major area of fragility. We could have another meltdown in the financial market tomorrow because as Dick Fuld [Lehman former CEO] said, he claims that their balance sheet was just fine and that this was all just a panic, it was not connected with any facts. Well, he said that every institution on Wall Street --- Goldman Sachs (NYSE: GS), JP Morgan (NYSE: JPM) -- could have experienced the same thing. His concern about this happening to other companies is well taken. So we have a financial system that is set up to fail again, and we have a fiscal situation which is a complete and dire mess. It could lead to a financial panic that could lead to a much bigger meltdown of the financial system than we have seen.
Greer: Is the U.S. bankrupt?
Kotlikoff: Bankruptcy means not being able to pay your future bills. If you can't pay your current bills, your creditors are already after you so you already are bankrupt. If you can't pay your future bills, that really is the operational definition of going bankrupt or being bankrupt. The U.S. government can't pay its future bills. These bills, in total, in present value, exceed the revenues by $202 trillion. This is based on taking the data projected by CBO (Congressional Budget Office) back on June 26 of this year, when they put out their alternative fiscal scenario, which is their best long-term projection of government spending, including servicing the official debt, and government revenues. And if you present value the differential between spending and revenues, including extrapolating beyond their projection which is important to do, you get a fiscal gap of $202 trillion. To come up with $202 trillion in present value, you'd have to immediately and permanently double all taxes we have. You'd have to do it immediately. We're talking here about running a 5% GDP surplus this year instead of running a 9% deficit. So I don't see that happening. We have to cut spending or we have to print money. Either way you're cutting spending so either way you're, in effect, reining in spending promises. And that suits my definition of bankruptcy. And I think there are ways of cutting spending and getting our fiscal house in order but we need to engage in radical surgery here and not putting on the band-aid that this administration is so fond of.
Greer: One of our Motley Fool writers recently interviewed Euro Pacific Capital President Peter Schiff. In 2006, he was predicting the economic downturn, and he now says that we are, "In the early stages of a depression now. It is going to be a horrific experience for average Americans who are going to watch their standard of living plunge." Do you agree?
Kotlikoff: Well, this has been a depression so far for millions of Americans. It didn't have to happen. It is really man-made. We have the same physical capital and human capital sitting here in place. We don't have to stay in a depressed state. The problem is that things are not coordinated. We don't have buyers optimistic about getting paid salaries and we don't have sellers optimistic about being able to find buyers, so everybody is kind of sitting on their hands. We can have some, a bunch of KISS's, which are "keep it simple, stupid" solutions to our problems, and lots of people throughout the country realize this, that we need to fix things fundamentally. We can't do it with 2,000 page bills that make bureaucratic structures that are basically clogging up our economic arteries, even more bureaucratic…

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse The Economic Collapse | Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon.

America’s Debt: The BIG Wave Damien Hoffman | This, my friends, is only the tip of the iceberg of what will unfold should we choose to kick the proverbial can farther down the road.

S&P Says US Should Act to Protect AAA-Rating: Report The United States government needs to take steps to preserve its top AAA-rating, a Standard & Poor’s Ratings (S&P) official told Dow Jones newswire in an interview published on Thursday.

It pays to riot in Europe Dublin has played by the book. It has taken pre-emptive steps to please the markets and the EU. It has done an IMF job without the IMF. Indeed, is has gone further than the IMF would have dared to go.

The Economy When Debt Is Everywhere As a result of austerity, imposed on Greece by its Illuminist led government, unemployment has hit 70% in some places. The country’s budget deficit has been reduced by 40%, truly draconian. Spending by government has been cut 10%, which is more than double what the EU and IMF has required.

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon, but a growing minority of Americans are starting to realize that things are fundamentally changing and that they better start preparing for what is ahead.

China Buys Euros as Fear of World Depression Grows Webster G. Tarpley | The one certainty is that there is no recovery, and that the second wave of a world economic depression dominates the world.

Economy Caught in Depression, Not Recession: Rosenberg Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. ‘Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”**

Op-Ed Columnist - The Third Depression - NYTimes.com Economic Policy: Nobel Prize-winning economist Paul Krugman says the US is in the "early stages of a third Great Depression. The Third Depression By PAUL KRUGMAN Published: June 27, 2010 ‘Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31. Neither the Long Depression of the 19th century nor the Great Depression of the 20th was an era of nonstop decline — on the contrary, both included periods when the economy grew. But these episodes of improvement were never enough to undo the damage from the initial slump, and were followed by relapses. We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. And this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending. In 2008 and 2009, it seemed as if we might have learned from history. Unlike their predecessors, who raised interest rates in the face of financial crisis, the current leaders of the Federal Reserve and the European Central Bank slashed rates and moved to support credit markets. Unlike governments of the past, which tried to balance budgets in the face of a plunging economy, today’s governments allowed deficits to rise. And better policies helped the world avoid complete collapse: the recession brought on by the financial crisis arguably ended last summer. But future historians will tell us that this wasn’t the end of the third depression, just as the business upturn that began in 1933 wasn’t the end of the Great Depression. After all, unemployment — especially long-term unemployment — remains at levels that would have been considered catastrophic not long ago, and shows no sign of coming down rapidly. And both the United States and Europe are well on their way toward Japan-style deflationary traps …’

Worse than expected news on both durables and new home sales. Indeed, in this and the prior session the ‘new homeseller stocks’ rose based on the foisted false expectation of expected-to-better as opposed to, among other, far worse than expected results. Yet, where / when was the worse than expected news discounted. The fact is that it wasn’t, as fraudulent wall street with one of those typical press the button, computerized program trade days, rallies to try to suck the suckers back in to keep their ‘churn and earn’ rollin’. Note the typical, almost tauntingly gleeful mainstream non-news headline, ‘US stocks pull off a gain; Dow ends above 10,000 (at CNBC)’ … Riiiiight! … They pulled it off … How pathetic! Democrats move to shore up faltering economic recovery (Washington Post) [ Wow! And all this time that’s what we thought they were doing. Now they’re gonna’ get serious … riiiiight. Here’s some serious for you:   Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff … : an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]

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 ).

INSIDER TRANSACTIONS (Washington Post) Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can! ]

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable... Roubini: Growth to Be 'Well Below' 1% ...`
`New Home Sales Sink to Lowest Pace on Record... Banks back switch to renminbi for trade; Incentives to move from dollar and euro... DEM JOKES: PELOSI COULD DIE BEFORE NEXT YEAR Former Republican chairman: I'm gay...`
`President Bush 'incredibly supportive in his cornholin’ efforts'... Bernanke under pressure to prop it up [yeah … with the typical b* s]!`
`Jackson Hole: Speech, Speech...`

Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt Nimmo | Infowars.com readers believe the monetary policies of the Federal Reserve will push the country into another depression.

Even Tony Robbins Is Warning That An Economic Collapse Is Coming It seems like almost everyone is warning of a coming economic collapse these days.

Why to Expect a Bipolar Market Move Next Week [Well, I don’t know about a diagnosis of bipolar, but ‘criminally insane’; yes, that’s wall street in a nutshell.]

Bond Bubble, Dollar Doom - Embrace The Fear Says Fisher   [ Riiiiight! Sounds like a plan … to bail out the frauds on wall street as they sell their ‘hot potatoes’ in their typical ‘musical chair’ pre-crash charade! ] ‘… Hussman: Dollar Collapse Coming: In his latest market commentary, top fund manager John Hussman continues to express a bearish view, and says that more quantitative easing by the Federal Reserve is likely to trigger “an abrupt collapse in the foreign exchange value of the U.S. dollar”. Hussman offers something of a primer on exchange rates, and concludes by saying this: “The policy of quantitative easing is likely to force a large adjustment on the U.S. dollar because the Federal Reserve is choosing to lay a heavier hand on the Treasury bond market than would result from economic conditions alone,” he says. “The resulting shift in interest rates and long-term inflation prospects combine to dramatically reduce the attractiveness of the U.S. dollar. A significant and relatively abrupt devaluation is then required, in an amount sufficient to set up expectations of a U.S. dollar appreciation over time.” Special Offer: People mocked Gary Shilling when he said SELL in 2006 and 2007. But he was right and his subscribers are richer for it. Click here for Gary Shilling’s current investment advice. As for the market, Hussman says he continues to see unfavorable valuations, unfavorable market action, and unfavorable economic pressures. The Fed’s new go at quantitative easing may well limit deflationary fears, he says, which has led him to increase exposure to precious metals and foreign currencies. Hussman also says the U.S. should focus on restructuring debt, and offers his take on how it should do so …’

Dow Reclaims 10,000 as Stocks Pare Losses CNBC | Stocks opened lower for a fifth straight day Wednesday as disappointing reports on new home sales and durable-goods orders stoked worries about the economic recovery.

Consumers Dropping Pay TV Services Investors.com | The number of subscribers to cable, satellite and telecom TV services in the U.S. fell for the first time ever in the second quarter.

Plunge in Home Sales Stokes Economy Fears Wall Street Journal | U.S. home sales plummeted in July to a level not seen in more than a decade, spurring fears of renewed weakness in housing prices and the broader economy.

Boehner calls for mass firing of Obama's economic team (Washington Post) Yeah! True enough. They should be fired (watch for fake data as a desperate reaction to the reality the fake data’s been hidin’, revisions to fake data which hid reality, etc., ‘cause they’re really desperate); yet where were the same calls for paulsen, bush, et als. The truth is, they all should be fired! Every last fraudulent one of them! All three corrupt branches of the u.s. non-government.

Frank to hold hearing on regulation of Wall St. pay (Washington Post) [ Oooooh! Riiiiight! More hearings … sounds like a plan! You know, max face time, no action, great politics as usual. After all, if they were really serious, prosecutions, jail, fines, and disgorgement for the perps would have happened. Additionally, the so-called fin regs were powder puffs after all the huff and puff and ignore prosecution under already existing laws. What total fraud / b s! ]

U.S. Financial System Still "Fundamentally Corrupt," Kotlikoff Says: Here's How to Fix It ‘We have a "fundamentally corrupt financial system" and the Dodd-Frank reform bill did nothing to change it, says Boston University economics professor Laurence Kotlikoff. "Relatively little has changed except there are going to be more federal regulators who are probably going to miss major problems." At the core of the 2008 crisis was "the production and sale of trillions of fundamentally fraudulent securities," Kotlikoff says, suggesting all levels of society participated in the fraud -- including homeowners. At the center of it all were financial intermediaries (a.k.a. Wall Street) who packaged and sold "snake oil under the guise of proprietary information" to limit or eliminate disclosure, and enabled by corrupt rating agencies, regulators and elected officials, he says. In the accompanying video, Kotlikoff explains how we can "make Wall Street safe for Main Street." In short, we should transform all financial companies with limited liability (banks, hedge funds, private equity firms and insurance companies alike) into mutual funds, which the professor describes as "little banks that have 100% capital requirements. " Notably, the big mutual fund companies survived the "financial earthquake" of 2008-09 when the rest of the financial system collapsed, Kotlikoff recalls. In late 2009, Kotlikoff and Harvard's Niall Ferguson penned an op-ed for The FT describing a blueprint for how to take moral hazard out of banking. Citing a speech by Bank of England governor Mervyn King, Kotlikoff and Ferguson called for "limited purpose banking" (LPB), that would "limit banks to their legitimate purpose - financial intermediation and payment facilitation." Nine months later, Kotlikoff remains convinced this "very simple reform" remains a much better alternative than the financial reform bill hammered out in Washington - with plenty of influence from Wall Street lobbyists. "We are rebuilding [the system] out of straw rather than out of brick," Kotlikoff says, suggesting his "LPB" proposal will ultimately be good for the economy and provide a model for the rest of the world. "If we have a safe, sound [financial] structure other countries will follow suit," he says.’

How to Get Through This Mess* ‘… U.S. RECESSION NEVER ENDED; GDP TO CONTRACT IN Q3

Hardship 401(k) withdrawals set record in second quarter: More workers also borrowing from their accounts (Washington Post, August 22, 2010) [ Clearly an instance where ‘better late than never’ doesn’t quite do it … ‘better now than late or never’ is a bit better as the following see that old tune, ‘ The Big Hurt’, reaching once again number 1 on the billboard charts. ]

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can!

100-Year Bonds --- Sign of Trouble?

Analyst: Dow To 5,000, Lost Decade For Stocks The Dow Jones Industrial Average will lose about half of its value over the next couple of years as it follows a Nikkei-like pattern of several sharp rallies in an overall decline, according to Charles Nenner, founder and president of Charles Nenner research.

Existing home sales plunge 27% Existing home sales fell sharply in July, declining for a third straight month, as the effects of the expired homebuyer tax credit continued to add turbulence to the housing market.

Hindenburg Omen Creator Has Exited The Market As we reported first, last week saw the second confirmation of the Hindenburg Omen, most recently sighted for the first time on August 12. Presumably this is an indication of putting one’s money where one’s mouth is (and away from the market).

We’re Underperforming The Great Depression In real (inflation/deflation-adjusted) terms, when did the US market permanently regain the high reached in 1929? The first chart illustrates two answers to the question. One uses the real price and the other uses the real total return.

Top Republicans urge Obama to oust economic team Reuters | The top Republican in the U.S. House of Representatives called on Tuesday for President Barack Obama to fire his economic team in a campaign-style speech meant to focus voters on the weak American economy.

Home Sales Plunge to Record Low NY Times | Sales of existing homes plunged 27.2 percent in July, down to their lowest level since the National Association of Realtors began keeping track over a decade ago.

Unemployed group blasts Geithner’s handling of economy The Hill | UCubed, a group representing unemployed and underemployed workers, sharply criticized Treasury Secretary Timothy Geithner for his handling of the economy.

Stocks Plunge, Double Dip Recession Fears Grow After Home Sales Report U.S. stocks extended losses, sending the Dow Jones Industrial Average below 10,000, and the 10-year Treasury yield fell below 2.5 percent for the first time since 2009 as a bigger-than-estimated slump in existing home sales fueled concern the economy may relapse into recession.

Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt Nimmo | Infowars.com readers believe the monetary policies of the Federal Reserve will push the country into another depression.

Even Tony Robbins Is Warning That An Economic Collapse Is Coming It seems like almost everyone is warning of a coming economic collapse these days.

Alex Jones Exposes Google’s Plan to Dominate the Internet Infowars.com | Google’s takeover agenda will control the world wide web and force independent media websites, radio and TV shows out of existence for good.

Ron Paul: Let the Housing Market Normalize! Dr. Ron Paul | There seems to be a growing consensus in favor of abolishing Fannie and Freddie. This is the good news.

Americans Using Their Rainy Day Savings to Live Rebel Traders | The reality of the ‘real economy’, as measured by people, not Wall Street, is a deteriorating economy where any source of funds is fair game to be tapped into.

The Never Ending Recession Mr. Rosenberg believes we could see a negative GDP print THIS quarter. And if he’s right that means analysts are far too optimistic about the upcoming quarter.

Economic forecaster: ‘Greatest Depression’ coming Collapse of middle class means there’s no fuel for recovery, Gerald Celente argues.

National / World:

JFK Assassination Cover-Up Blown Sky High It is a story the corporate media, with the notable exception of one lone Fox News affiliate, refuses to report. A former FBI agent, Don Adams, has compelling evidence Lee Harvey Oswald did not assassinate president John F. Kennedy.

Massive solar storm to hit Earth in 2012 with ‘force of 100m bombs’ Astronomers are predicting that a massive solar storm, much bigger in potential than the one that caused spectacular light shows on Earth earlier this month, is to strike our planet in 2012 with a force of 100 million hydrogen bombs.

Conclusive: Global Distribution of Rockefeller-Funded Anti-Fertility Vaccine Coordinated by WHO Jurriaan Maessen | It is a dream long cherished by the global elite: an anti-fertilization program with the aim of reducing the world’s population

Republican Tea Party Organization Reports Death Threats Kurt Nimmo | FreedomWorks is the establishment’s answer to the Libertarian Tea Party movement.

Saudi couple hammer 24 hot nails into their maid after she complained of heavy workload [Saudi Arabia is total b* s. Time for displacement of the saudi mob family, and establishment of a meaningful nation-state! They are an embarrassment to Muslims everywhere!] A Saudi couple tortured their Sri Lankan maid by hammering 24 hot nails into her after she complained of her heavy workload. Mrs Ariyawathi told a local newspaper that her employers tortured her with the nails as punishment.

Senate To Sneak Through Internet Kill Switch Bill The Senate is attempting to sneak through the infamous Internet kill switch cybersecurity bill by attaching it to another piece of legislation that is almost guaranteed to pass – the defense authorization bill – in an underhanded ploy to avoid the difficult task of passing cybersecurity on its own.

Key Karzai Aide in Corruption Inquiry Is Linked to C.I.A. The aide to President Hamid Karzai of Afghanistan at the center of a politically sensitive corruption investigation is being paid by the Central Intelligence Agency, according to Afghan and American officials.

WikiLeaks Release: CIA Red Cell Special Memorandum – What If Foreigners See the United States as an ‘Exporter of Terrorism’ [Which of course is the reality, along with israel; you do recall those israeli operatives who were caught cheering the 911 hit, the so-called pearl harbor event so cherished by the neo-cons.] The document states, “This report examines the implications of what it would mean for the US to be seen increasingly as an incubator and ‘exporter of terrorism.’” However, it doesn’t go on to mention the U.S. state sponsored terrorist activities of the Proactive, Preemptive Operations Group (P2OG).

Inside Job? Iraqi govt ‘involved in deadly bombings to get US troops to stay’ More than 40 people have been killed in a string of bombings that have rocked Iraq. In Baghdad alone, over 20 bombs exploded in at least 12 separate incidents. Today’s bombings are raising questions the Iraqi government’s ability to deal with an ongoing insurgency. Sabah Al-Mukhtar from the Arab Lawyers Association says the bombings may actually be the Iraqi government’s way to get US troops to stay.

John McCain’s Attack On Liberty Chuck Baldwin | The citizens of Arizona can do the American people — and liberty itself — a great favor this year by giving Senator John McCain his walking papers. [First, he’s a fraud with a long mob-connected history. Second, he’s an incompetent mental case in the mold of ‘bolton’ et als, but all that’s how and why they keep this compromised a in there.]

Former FBI Agent Reveals New Angle On Kennedy Assassination [bush, typically, was involved up to his eyeballs, and ‘knuck’ (knucklehead not-to-bright ford) the typical go along to get along. ]‘… Despite the threat and possibility of a conspiracy to assassinate the president, the FBI and Secret Service allowed Kennedy to travel to Dallas. “[They] should have stopped the President from traveling instantly,” said Adams. “You thought I was kidding when I said he would be killed from a window with a high powered rifle,” a “jubilant” Milteer” told the informant following the murder. Adams points out that Milteer was in Dallas on the day of the assassination and has a photograph to prove it. In the photo, Milteer stands near the presidential limousine prior to the shooting. Adams notes this fact was not mentioned in the Warren Commission report. Other, more well-known personages were also photographed in Dealy Plaza on that fateful day, in particular George Bush Senior. The future CIA director and president was photographed standing outside the Texas Book Depository building where it was said Oswald single-handedly shot the president from the sixth floor. Gerald Ford appointed Bush to head-up the agency when the House Select Committee on Assassinations was investigating CIA-FBI links to the murders of John F. Kennedy, Martin Luther King and Robert Kennedy. During Gerald Ford’s funeral in 2007, the elder Bush attacked theories straying from the official version. “After a deluded gunman assassinated President Kennedy, our nation turned to Gerald Ford and a select handful of others to make sense of that madness,” said Bush. “And the conspiracy theorists can say what they will, but the Warren Commission report will always have the final definitive say on this tragic matter. Why? Because Jerry Ford put his name on it and Jerry Ford’s word was always good.” After Adams told the FBI he believed it was impossible for Oswald to have fired three shots with a bolt-action rifle in seven-and-a-half seconds while taking aim through a scope, he was warned by his superiors not to pursue his findings. “Don, be careful what you say and how you say it,” an agent told him. Mr. Adams’ assertions contribute to a huge body of evidence revealing that Kennedy was not murdered by Oswald in the fashion described by the government…’

Finland Suspends Swine Flu Shots After Vaccine Linked With Neurological Disorder Paul Joseph Watson | Finland’s National Institute for Health and Welfare (THL) has suspended the use of the H1N1 vaccine over fears that the shot is linked with narcolepsy.

U.S. Court Rules That Government Can Secretly Track You With GPS, Privacy is For Rich People Only Steve Watson | TIME magazine casually admits that it is now perfectly legal in nine states for the government to attach secret satellite tracking devices to your car and monitor you wherever you go, without a search warrant.

CNN: Opposition to Government, Bankers is Criminal Kurt Nimmo | The sovereign citizen movement is considered a direct and dangerous threat by the government because it rejects out of hand its authority.

Alex Jones: Government Wants to Control Your Music Infowars.com | Alex covers the hysteria over “i-dosing” and the ultimate plan by government to control our minds and emotions.

Megalomaniacs Push For Orwellian “Safe” City, Controlled Internet Biometrics R&D firm Global Rainmakers Inc. recently unveiled a plan to place iris scanners and other tracking devices in what they toted as the “most secure” city in the world.

Study: Oil spill cleanup workers suffered chromosome damage, respiratory issues Spanish fishermen who took part in a clean-up operation after the Prestige oil tanker spill in 2002 have shown symptoms of chromosomal damage and respiratory problems, a study released Tuesday said.

4th Amendment Violating Mobile X-Ray Scanners Hit The Streets As we warned at the beginning of the year, X-ray body scanners currently being used and abused in airports across the world are set to hit the streets as American Science & Engineering reveals that “more than 500 backscatter x-ray scanners mounted in vans that can be driven past neighboring vehicles to see their contents” have been sold to government agencies.

Pentagon Teaches Kindergarten Kids As U.S. Schools Are Militarized For Martial Law Conditioning This represents the process of full spectrum dominance over our children’s minds. First the government paid the mothers not to have husbands in the home (single parent benefits) and now the soldiers are bringing up our kids from Kindergarten age. This is about training Americans almost from birth that’s it’s normal to have troops involved in routine life on a day to day basis. This is total martial law conditioning.

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable... Roubini: Growth to Be 'Well Below' 1% ...`
`New Home Sales Sink to Lowest Pace on Record... POLITICO: SOME DEMS THINK HOUSE IS GONE... INTEL CEO blasts Obama, Dems; USA faces looming tech decline...`
`LETTERMAN TURNS: 'He'll have plenty of time for vacations after his one term' … [ This really is so true … wobama is so total, typical b s* ] ...`

For Obama, some chances ahead (Washington Post) [ Come on! Wake up! There are no chances ahead for wobama’s already failed presidency! He knows it, the people know it, and even his most ardent blind supporters know it. One too many b* s* stories and broken (campaign) promises. Delivering a speech, albeit teleprompted, is a far cry from delivering, which reality most have awaken to. He seems to be incapable of even one original thought even as the wobamas seem to take umbrage as they are dissed for self-created lack of approbation ($500 sneakers, spain trip, fiddling while the nation burns, etc.). What next? The race card? Even as his (in)justice department had decided to ignore civil rights violations by blacks and focus only on whites? No! wobama’s failed presidency is as done as an over-cooked hard-boiled egg. Empty words just ain’t enough! ] New Orleans visit, Iraq speech offer president opportunities to help end a frustrating summer.]

Google’s Plans to Take Over The Internet Exposed! Google’s agreement with Verizon to speed certain Internet content to users opens the door to the complete sterilization of the world wide web as a force for political change. Under Google’s takeover plan, the Internet will closely resemble cable TV, independent voices will be silenced and the entire Internet will be bought up by transnational media giants.

‘Pre-Crime’ Reaches Number 1 Google Trend Spot Matt Ryan | Steve Watson’s incredible article about the use of pre-crime technology was picked up by large news sites such as the Drudge Report and others.

Pre-Crime Technology To Be Used In Washington D.C. Steve Watson | Computers predict what crime will be committed where, by who and when.

`Drudgereport: GALLUP GENDER GAP: Obama's Approval Among Men Hits All-Time Low of 39%... LOBOTOMY JOE BIDEN: 'We're moving in right direction'… Right lobotomy joe, anything you say! ...`
`Worries about recovery deepen...`
`'Hindenburg Omen' creator exits stock market...`
`Economy in 'Depression, Not Recession'...`
`Dow Faces 'Bouncy Ride to 5,000'...`
`Typical Slow Summer -- or Something Darker?`
`Drop in Home Sales Renews Pricing Fears...`
`Investors Scatter to Safety... Unemployed group blasts Geithner's handling of economy...`
`BOEHNER URGES OBAMA TO FIRE...`
`'Government as community organizer' has failed...`

`LA UNVEILS $578 MILLION SCHOOL`
`More Expensive Than China's Olympic Stadium!`
`California Delays $2.9 Billion School, County Payments Amid Budget Impasse...`

`'Beat Whitey Night': Iowa racial attacks at state fair...`        `POLICE REPORTS...`

Gasoline prices hit 8-month low (Washington Post) [ Strange days indeed. There was a time not long ago that the same news would engender a ‘glass-half-full’ spin for a fraudulent wall street rallying point. At the same time, higher oil prices one of those reasons for selling into the bubble. Today, higher oil prices day to day provide a ‘glass-half-full’ spin for a fraudulent wall street rallying point that drives the oils (stocks) higher. Yes, that’s how bad the economy really is. (Not a reference to ‘Strange Days’ the interesting film from that impressive oscar-winning giant (amazon) of a woman, Kathryn Bigelow, which sported a cast that included Tom Sizemore which of itself meant strange indeed.) ].

AIG pays back $4 billion of bailout debt (Washington Post) [ Ah, yes. How endearing. Just goes to show that the hearts of american business are in the right places. So touching … I’m sure I’m not alone in shrugging with a sense that given america’s chosen intractable downward path such as this matters little or none! ]

Obama targets IT contracts (Washington Post) [ And what goals are being met with the protracted mid-east wars with costs exceeding a trillion other than defacto bankruptcy of the nation and anti-american sentiment, not to mention the diversion from the multitude of america’s domestic problems. It seems to me that IT would be among the last of items warranting scrutiny (360 tons of $100’s flown into Iraq would without scrutiny go right into the treasury, etc.) , particularly since tech, though over-rated, is probably america’s last strength owing to a significant head start and a built- in language bias, though quickly becoming mere assemblers / distributors of foreign-made (components) at best.] The White House unveils plans to review 26 government information-technology projects worth a total of $30 billion as part of an effort to trim back or cancel contracts that aren't meeting goals.

Second Hindenburg Omen Confirmation In As Many Days, Third H.O. Event In One Week Longs may be forgiven if they are sweating their long positions over the weekend: not only did we just have a second, and far more solid Hindenburg Omen confirmation today.

Jim Rogers: If You Want Your Family To Be Silly Rich In The Future, Then Leave America And Move To Asia Now As you may know, Jim Rogers moved to Singapore in 2007, though he maintains a residence in the U.S. as well.

Portions of the Gulf are So Toxic that Dolphins, Fish, Crabs, Stingrays and Other Animals are “Trying to Crawl Out of the Water” Danny Ross, a commercial fisherman from Biloxi… said he has watched horseshoe crabs trying to crawl out of the water, and other marine life like stingrays and flounder trying to escape the water as well. He believes this is because the water is hypoxic.

Karzai: Private contractors ‘looting and stealing,’ working with terrorists Afghan President Hamid Karzai on Sunday defended his decision to ban private security contractors from operating in public in Afghanistan, saying many of the organizations tasked with providing security are engaging in terrorist activities, working with “Mafia-like” organizations and “looting and stealing from the Afghan people.”

Housing Fades as a Means to Build Wealth, Analysts Say Many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century.

Why “Fair Play” In A Central Bank Interventionist World Is A Doomed Strategy Today’s special report by Faros Trading summarizes the pathetic, uber-interventionist world we live in.

Hussman: Bernanke’s Quantitative Easing Is About To Trigger A Collapse In The US Dollar In his latest weekly letter, John Hussman warns of an imminent and disorderly collapse of the US dollar, courtesy of Ben Bernanke’s move towards more quantitative easing.

INSIDER TRANSACTIONS (Washington Post, August 23, 2010) Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can! ]

Washington looks tantalizing to New York (Washington Post) [ I’m surprised to see this ‘old news’ here since it’s widely known that the wall street frauds, goldman et als, have garnered near vampire legendary status by way of their infamous blood (taxpayers) / treasury draining ways. Tantalized? I’d say consumed. ]

Federal contractors team up with tech giants (Washington Post) [ Clearly the end of an innovative tech sector as blood-sucking, treasury draining corporate welfare artists show them how to get something for nothing but self-perpetuating, self-created needs that aren’t really needed! ] For traditional government contractors, the appeal of working with commercially successful companies such as Google or Apple is clear.

Drudgereport: `Philly requiring bloggers to pay $300 for 'license'… [ There are a plethora of reasons to leave philly and this is just another ] ...`
`WHAT BUDGET CRISES?      LA UNVEILS $578 MILLION SCHOOL [ Come on! In California it’s always about the private contracts with public money from public office holding slugs ]Gold bullion stolen from Florida treasure museum [ I personally believe that beyond the ‘gold-plate’, Fort Knox has already been looted! ] ...`

Wikileaks’ Assange: Pentagon may be behind rape claims Agence France-Presse | [ This story smacks of american modus operandi as alternative to outright murder / assassination. Enemy of the State Lew Rockwell | It’s been clear for some time that the Pentagon would love to put a bullet in Julian Assange’s brain. ] Wikileaks founder Julian Assange said in an interview published on Sunday that he believes the Pentagon could be behind a rape accusation against him that was later dropped by Swedish prosecutors.

Gulf Oil May Not Degrade for Decades Washington’s Blog | Scientists have found an underwater oil plume that is more than 22 miles long, more than a mile wide and 650 feet deep.

Yet another Soros tentacle exposed Jim Wallis, the man behind the so-called “religious left” – a left wing evangelical activist who worked to get evangelical support for Obama — has been exposed as another stooge of George Soros.

Der Spiegel: US middle class vanishing According to an article appearing in the German newspaper, Der Spiegel, the negative consequences of the global financial crisis include a widened social class rift and the elimination of the middle class in the US.

Swedish Prosecutors Drop Rape Charges Against Wikileaks Founder Now according to the AP, the rape charges against Wikileaks founder Julian Assange have been withdrawn.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

U.S. examines private sector's role in affordable housing (Washington Post) [ I’m sorry to say that in pondering the so-called policy-makers in Washington or in the corporate boardrooms that I’m hard-pressed to dismiss from my mind’s eye a picture of a bunch of scarecrows fumbling around while singing refrains such as ‘if they only had a brain’ cirque the land of the wizard of oz. The reality is that some basic grasp of economics, finance, business would go a long way in a more positive sense for the nation. Then there’s those infamous internment / concentration / ‘affordable housing’ camps that’s been filtering through the filters, so to speak.] The Obama administration is grappling over how much to force private lenders to pay for apartments and homes for the poor as it presses ahead with a major overhaul of the government's housing policy, officials said.

$60M project to resume in D.C. (Washington Post) [Well, at least they’re not fema concentration / internment camps; naah, they’re for the hoi polloi. Now luxury apartments for the Washington criminal class; that’s another story. Time to break out the bubbly ‘cause happy days are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union side of the conflict had its many concentration camps as well. ... and walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And how we burned in the camps later, thinking ... county is a designated home for a "concentration ... relocated to "secret locations" (FEMA camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily www.youtube.com
FEMA Concentration and Internment Camps A good over look of what FEMA is all about. Enslavement and Concentration Camps. It is not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA AND THE REX 84 PROGRAM. There are over 600 prison camps in the United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp masquerading as a water treatment plant" here in Texas was (ta-daa) a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION CAMPS: Locations and Executive Orders ..... Ft. Drum - two compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]

CBO Offers tax cuts assessment (Washington Post) [ One might be inclined to quip, well, you can’t give what you don’t have; but, we all know that’s not true in washington these days and they have the red ink to prove it. `Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...    ‘`(P)recarious fiscal situation by 2020? I’d call that wishful thinking! The 2020 part. How ‘bout now!]

Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh! Sounds like a plan! Or, the wrong plan! The one they’re using, that is. Or, no plan, like Afghanistan!]   `Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...`
`NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING...`
`Homeowners Expect Home Values to Fall More...`

Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners …]

Chiacgo's ShoreBank fails, is bought by investors Chicago Tribune - Chicago-based ShoreBank, which for more than three decades made loans to South and West siders who might not have gotten financing elsewhere to buy homes, apartment buildings and start businesses, failed Friday. Regulators shut big Chicago-based bank BusinessWeek Regulators shut down big Chicago bank, 7 others The Associated Press ‘… The FDIC also seized seven other banks Friday, bringing to 118 the number of U.S. bank failures this year amid the recession and mounting loan defaults …The FDIC also took over Community National Bank at Bartow, in Bartow, Fla.; Independent National Bank of Ocala, Fla.; Imperial Savings and Loan Association of Martinsville, Va.; and four California banks: Butte Community Bank, based in Chico; Pacific State Bank, based in Stockton; Los Padres Bank, in Solvang; and Sonoma Valley Bank, in Sonoma. …’ Reuters - Bloomberg - Los Angeles Times (blog) - Richmond Times Dispatch

World Indices / Week ended August 20, 2010 Yahoo Finance

BEAR MARKET MATH - JULY LOWS IN DANGER Simon Maierhofer, On Friday August 20, 2010, 4:53 pm EDT ‘
1+1=2
2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation?
Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As the chart below shows, positive earnings reports are not bullish for stocks, especially if future guidance is weak.[chart]

2+2=5 or Weaker than Expected Economy = Rising Stock Prices On July 30, the Bureau of Economic Analysis (BEA) lowered the previous quarter's Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?

3+3=7 or Positive Analyst Estimates = Higher Stock Prices A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market (NYSEArca: TWM - News) dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Ultra Financial (NYSEArca: UYG - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News). If you care to know, analysts estimate that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?

4+4=9 or Technical Sell Signals = Higher Stock Prices The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).

5+5=11 or Overvalued Stocks = Higher Prices As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Even value funds like the iShares Russell 1000 Value (NYSEArca: IWD - News) yield only a measly 2.08%. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped or overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market tops. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.’

DOES HISTORY REPEAT, RHYME OR JUST HAVE COINCIDENCES?   Lounsbury: ‘… Has anything of economic utility resulted? I have not found it. And counter to the effect of the dot.com collapse, the credit bubble collapse may not have stripped out some of the speculative income excesses. Wall Street bonuses are back to pre-crisis levels and there has been no "claw-back" of ill-gotten gains from the pirates who seized the economic ship. In fact, the pirates are still in command of the ship and are still under full sail. Yo ho ho and a bottle of rum! From my first Treasury report:

… the problem was that our systems, especially in finance and health care, are too heavily focused on pay for transactions rather than pay for outcomes. I didn’t have the presence of mind to bring instant gratification into the discussion, but that would have certainly made my thought process clearer.

I don't think this created any waves, but I will continue to wail in the wilderness about how compensation formulas contribute to and compound the structural problems in our financial system. So, back to the earnings chart that started this discussion. In view of what has been discussed here I believe we will find that history, in this instance, will at least rhyme, if not repeat exactly. Structural economic problems are sufficiently similar for the two eras that I expect we will see some form of recurrence of events 5 and 6 [Depression] …’

Hindenburg Omen Confirmation #1 Today we got our first Hindenburg Omen confirmation. The number of new highs was 136, and new lows was at 69 (per the traditional WSJ source).

Greek crisis refuses to go away The European Commission has approved the next €9bn (£7.4bn) tranche of loans for Greece but the underlying economy continues to deteriorate as Greek banks suffer a record loss of deposits and output contracts at a quickening pace.

We Killed The Goose That Laid The Golden Egg For middle class Americans, the new global economy has provided mountains of cheap products made in China, India and dozens of other nations, but it has also killed the goose that laid the golden egg.

Grim future for young workers in ‘pensioner ghettos’ Telegraph | Parts of Britain could become retirement ghettos within a generation with three retired people for every four in work, a report warns.

Is Our Money Based on Debt? Robert Murphy | The first thing to realize is that the Fed can control the size of the monetary base, but it can’t directly control its composition.

Obama Lied About Stimulus Dollars Aiding Local Project A local project that President Barack Obama cited during a visit Wednesday to Columbus as an example of how the federal stimulus package has worked isn’t actually being funded with stimulus dollars.

Black Swans Need Not Apply (6 Reasons Why the Economy is Going Down) Louis James | My New York adventures are signs of an approaching gold mania, not a present one. But I believe more firmly than ever that it’s coming.

DISMANTLING BULLISH ARGUMENTS Simon Maierhofer …
Bull Market Argument #1 - Stocks are Cheap Even though the economy is in the worst shape since the Great Depression, economists at large believe that stocks (NYSEArca: IVV - News) are cheap … We've previously analyzed the folly of relying on projected earnings forecasts and therefore, will only pose two more facts as food for thought before moving onto the next argument. Even if earnings are positive the market can decline, as we've seen with the 9% and 17% declines in January and May. Most of the earnings growth has been fueled by cost-cutting, not organic growth. What does that tell us about the sustainability of growth?
Bull Market Argument #2 - Cash on the Sidelines Cash on the sideline is viewed as bullish because, theoretically, it can be used to buy stocks and drive up prices. Some distinguish between corporate cash and retail cash on the sidelines. Many forget that for every dollar in cash, there is a debt that has to be repaid. According to the Federal Reserve, nonfinancial firms' debt totals $7.2 trillion, the highest level ever. As far as retail investors go, the current debt-income ratio is at 126%. The pre-bubble average was around 70%. To get back to the pre-bubble norm, about $6 trillion worth of debt would have to be eliminated. Retail money in money market funds is currently around the same level as it was in 2006/2007. Is that bullish?
Debunking the Bond Myth No doubt there's been a migration from investment dollars out of stocks and into bonds and gold… Bonds - especially corporate high yield bonds - could soon assume the role real estate had in 2006. Many thought that real estate (NYSEArca: IYR - News) will always go up. As it turns out, real estate prices can move in both directions, as can bond prices.
A Closer Look at Gold What about gold? … The previous cash level low was recorded in August of 2007. We know what happened then. Rather than focusing on the sideline cash, perhaps we should focus on the trillions of dollars still in the market. More selling means lower prices.
'Stocks are Cheap' vs. Realistic Valuations Using projected earnings to determine the markets real value is like counting chickens that have yet to hatch. Things change, and as studies have shown, analysts and economist are usually the last to discern that change. Market forecasting based on solid facts is tricky enough, but basing forecasts on thin assumptions usually translates into financial suicide… Stock market tops when P/E ratios are high, dividend yields are low and mutual fund cash reserves are low. Over the past year, we have seen P/E ratios at an all-time high, dividend yields close to their 1999 low, and mutual fund cash levels at an all-time low. In addition, we have also seen investor optimism soar to levels reminiscent of 2000 and 2007…

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Schwarzenegger Orders 150,000 Government Workers to Take Time Off Without Pay Bloomberg | Schwarzenegger directed state workers to take three unpaid days off each month to save cash.

Weekly Jobless Claims Post Surprise Jump, Hit 500,000 Reuters | New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Western Economies Face Hyperinflation: Gold Bull The decline of the Western economic model will bring about hyperinflation and decades of painful readjustment, Egon von Greyerz, founder of gold investment intermediary Goldswitzerland.com told CNBC Thursday.

US Prepares For Gold Standard To understand this objective it helps to go back to a very important moment in our monetary past…

5 Trillion More Dollars To Fix Fannie Mae And Freddie Mac??? Fannie Mae and Freddie Mac have become gigantic financial black holes that the U.S. government endlessly pours massive quantities of money into.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... 'Allahu Akbar!' Iran test fires new missile...`

`'Al-Qaida prepares for Israel-Iran war'...`

`US Assures Israel Nuclear Iran Isn't Imminent...`

`Israel tells UN it will stop new Gaza aid flotilla...`
`Lebanon refuses to bow to warning...`

`CHICAGOLAND: ShoreBank Closed by FDIC...`
`...strong ties to Obama administration USA DEBT: $13,310,379,000,000.00 $44,000 PER CITIZEN... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`

$60M project to resume in D.C. (Washington Post) [Well, at least they’re not fema concentration / internment camps; naah, they’re for the hoi polloi. Now luxury apartments for the Washington criminal class; that’s another story. Time to break out the bubbly ‘cause happy days are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union side of the conflict had its many concentration camps as well. ... and walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And how we burned in the camps later, thinking ... county is a designated home for a "concentration ... relocated to "secret locations" (FEMA camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily www.youtube.com
FEMA Concentration and Internment Camps A good over look of what FEMA is all about. Enslavement and Concentration Camps. It is not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA AND THE REX 84 PROGRAM. There are over 600 prison camps in the United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp masquerading as a water treatment plant" here in Texas was (ta-daa) a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION CAMPS: Locations and Executive Orders ..... Ft. Drum - two compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]

CBO Offers tax cuts assessment (Washington Post) [ One might be inclined to quip, well, you can’t give what you don’t have; but, we all know that’s not true in washington these days and they have the red ink to prove it. `Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...    ‘`(P)recarious fiscal situation by 2020? I’d call that wishful thinking! The 2020 part. How ‘bout now!]

Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh! Sounds like a plan! Or, the wrong plan! The one they’re using, that is. Or, no plan, like Afghanistan!]   `Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...`
`NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING...`
`Homeowners Expect Home Values to Fall More...`

Privatizing Virginia liquor stores makes sense (Washington Post) [Wow! I’m totally shocked. Having spent enough time in virginia with a part-time office in proximity to washington to discern the corrupt state of affairs of same dominated by what I refer to as government mob (predominantly cia, related, etc.) (my direct sampling of corrupt states of jersey the worst, new york, california, connecticut – 5 for 5) but I had no idea that the state was as backward as it appeared in having state-run liquor stores. How totally preposterous! ‘The revenuers are the brewers’ … just kidding!] Seventy-seven years after the repeal of Prohibition, you'd think we regard the sale of liquor to consenting adults no differently than the sale of any other good.

Warren sits down with lobbyists (Washington Post) [Talk about appearance of if not outright impropriety. Just what do these lobbyists do for their money. Eke out more fraud protection … for the perps? Forget them! ]Elizabeth Warren, a top candidate to lead the new Bureau of Consumer Financial Protection, met quietly with some of her sharpest critics: big bank lobbyists.

Federal Reserve's shift in policy doesn't change its basic outlook (Washington Post) / And what outlook is that? The no-recession initially touted by bernanke or ‘envy of all the world’ touted by senile greenspun? How ‘bout reality:

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract …

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Bulls Scatter ... Again ‘At the risk of sounding like a broken record, we wanted to once again highlight the lack of conviction among investors and advisors in the current market environment. Following the July rally, bullish sentiment based on the Investors Intelligence weekly survey jumped to its highest level since May. Then last week, the S&P 500 dropped more than 3% and the bulls scattered. In this week's survey, bullish sentiment declined 12% for its largest weekly decline since the flash crash…’

Know Your Indicators: Hindenburg Omen   ‘…Below we outline the five criteria (taken from Zero Hedge) that need to be satisfied in order for the indicator to be triggered. They are:

That the daily number of NYSE new 52-Week Highs and the daily number of new 52-Week Lows must both be greater than 2.2% of total NYSE issues traded that day.

That the smaller of these numbers is greater than or equal to 69 (68.772 is 2.2% of 3126). This is not a rule but more like a checksum. This condition is a function of the 2.2% of the total issues.

That the NYSE 10-Week moving average is rising.

That the McClellan Oscillator is negative on that same day.

That new 52-Week Highs cannot be more than twice the new 52-Week Lows (however it is fine for new 52-Week Lows to be more than double new 52-Week Highs). This condition is absolutely mandatory…’

Another Round of POMO: Dave's Daily ‘…Thursday we'll get another round of Uncle Sugar's special blend via more POMO (Permanent Open Market Operations). This private label brew will go directly to the Primary Dealers (dba: Da Boyz) who will use it to trade as before…’

More Fuel For a Bigger Decline Simon Maierhofer, On Tuesday August 17, 2010, 4:18 pm EDT A French proverb states that a fault denied is committed twice. Denial, as blissful as it is for the time being, does not serve as protection against the inevitable.A perfect example of denial is the May 6 flash crash. Neither Wall Street, the financial media, nor investors wanted to see the danger of such a meltdown beforehand. After it happened, they were in denial about the cause.

Denial is Bliss

The simple truth is that the market was ripe for a major correction. A few weeks before the flash crash, the ETF Profit Strategy Newsletter noted the extremely low CBOE Equity Put/Call Ratio and warned: 'It seems that only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' As it turns out, there was no clumsy-fingered trader at fault for the decline that reduced the Dow (DJI: ^DJI) by more than 1,000 points in one day. If it had been a simple error, stocks wouldn't have fallen to new lows after the flash crash. If it had been a simple error, the S&P (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) wouldn't still be trading below the flash crash close.

The Reality of Denial

But, that's the power of denial. Since the April 26 highs, the S&P has been moving from lower highs to lower lows. On July 1, the S&P had arrived at 1,011. The ensuing rally lifted the markets by nearly 10%, but failed to push the S&P and Nasdaq above the July 21 highs. The July 21 highs failed to move above the May 12 highs. The May 12 highs were significantly short of the April 26 highs. Despite the obvious downtrend, investors get as excited about dead end bounces as ever. This is not a bullish omen. In fact, according to the ETF Profit Strategy Newsletter's technical analysis, the steepest leg of the decline is still ahead. Before we look at more technical details, let's browse through some fundamental factors that reflect the current state of denial:

Don't Worry About Bank Failures

111 banks were added to the FDIC's failed bank list thus far in 2010. At the same time last year, only 76 banks had been shut down. According to an FDIC press release, Metro Bank of Dade County had total assets of $442.3 million and total deposits of $391.3 million. Assets outweigh liabilities by $51 million. That's good, but apparently not accurate. According to the FDIC's press release, closing Metro Bank will cost the FDIC $67.6 million. Why? Because an accounting trick allows banks to artificially inflate their assets. The accounting trick allowed this small bank to overstate its assets by about 25%. Other banks on the FDIC list overstated their assets by more than 50%. Imagine the size of the problem, considering that the four biggest banks (NYSEArca: KBE - News) of the country have about $7.5 trillion in combined assets. We should also point out that none of those losses technically affect earnings, at least not yet (for a detailed analysis refer to the June issue of the ETF Profit Strategy Newsletter).

Don't Worry About Falling Real Estate

The National Association of Home Builders reported that its monthly reading of builder's sentiment about the housing market sank to 14, the lowest level since March 2009. Unlike other economic indicators, this index is taken from builders that have their finger on the pulse of Main Street and is forward looking. Despite the rally in equities (NYSEArca: VTI - News) and real estate (NYSEArca: IYR - News), homebuilders (NYSEArca: XHB - News) never really saw light at the end of the tunnel.

Don't Worry About Foreclosures

According to RealtyTrac, more than 1 million American households are likely to lose their homes to foreclosure this year. This is about 10 times as high as during an average year. 25% of the U.S. household sector has a sub-600 FICO score. Yet, Fannie Mae is offering financing to first-time buyers who only have a $1,000 down-payment. Nearly $150 billion have been spent to keep the doors of Fannie, Freddie and company open. Does it make sense to artificially extend the life of a patient destined to die? In the case of Fannie, politicians seem to think that lending more money and ultimately creating more toxic assets will solve the problems. Even a third grader understands the irony of that concept. Denial is alive and well.

Don't Worry About Bankrupt States

States are in trouble. The bigger the state, the bigger the trouble it seems. California has a $1.8 trillion economy. If CA was a country, its economy would be the seventh biggest in the world, bigger than Russia. But, CA has no money. CNN reports that as many as 200,000 state workers in CA could see their pay scale slashed to minimum wage, if orders from the governor's office are followed. You don't need to be one of the 200,000 to know that is bad. To go from state salary to minimum wage is a huge drop.

Don't Worry About Falling Prices

Look around and you see a general downtrend develop: U.S. stocks (NYSEArca: IWB - News), international stocks (NYSEArca: EFA - News) and emerging market stocks (NYSEArca: EEM - News). The same applies to commodities (NYSEArca: DBC - News), real estate prices (NYSEArca: RWR - News) and consumer goods. The above-mentioned 'don't worries' all contribute to the deflationary spiral (see image below for a visual). Unemployment remains high because businesses have no pricing power. This leads to lower income, default foreclosures, and ultimately even higher unemployment. Even Bernanke knows, there is no easy fix to a deflationary cycle. Once engrained, it feeds on itself. [chart]

Don't Worry About Death Crosses

A death cross is one of the most powerful technical indicators. It occurs when the shorter simple moving average (SMA) crosses below the longer SMA. Over the last few weeks we saw literally dozens of such death crosses. Most notable was the S&P, Dow Jones and Nasdaq experiencing not only a death cross created by the 50 and 200-day SMA, but also courtesy of the 10 and 40-week SMA. Despite the rally from the July lows, the sell signal triggered by the various death crosses remained active. The fact that the Dow Jones was the only major index to rally above the June 21 highs provides an additional bearish non-confirmation. Over the past ten years, the buy/sell action triggered by the SMA crosses has a success rate of 75% - 100%. Winning trades outperformed losing trades by a ratio of at least 3:1. In investing, those are not the kind of odds you want to bet against. In other words, it's time to face reality and abandon denial. Leading up to the April highs, the ETF Profit Strategy Newsletter noted a pinnacle of denial which was reflected by investors' outright enthusiasm about stocks. At a time when approximately 8 of 10 investment advisors and newsletter writers were bullish on stocks, the ETF Profit Strategy Newsletter noted: 'The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' Since April 26, the major indexes dropped as much as 17%. Despite the recent rally, this seems to have been only the first installment of a significant decline. This decline is now in progress. In fact, the August issue of the ETF Profit Strategy Newsletter explains the one chart-pattern that explains why the next leg down will be strong and powerful. A British Historian noted decades ago that a wise person does at once what a fool does at last. Both do the same thing; only at different times. Will you get out of the markets way in time, or too late?

Here’s a new piece of the dismally murky puzzle which belies a previous raison d’etre for rally: Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches . Previously, Walmart same store sales were actually down (overseas results were up), and, think about it. Isn’t Walmart, as essentially an american based sales agent of china products a ‘contrarian indicator’ for the the u.s.; that is , hasn’t Walmart’s rise coincided with american main street’s demise. Similarly, fraudulent wall street high frequency churn and earn programmed trade scams among many other frauds as yet unprosecuted has heralded the death knell for american business and the economy, generally. Old news at best and, that ‘not bad as expected, better than expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers were also strong. As a group retailers climbed 1.8%. Discount retail giant and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on the back of in-line earnings and an improved forecast. Home improvement retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a more positive influence over retailers. It posted better-than-expected earnings for the latest quarter, but issued a rather mixed forecast. A smaller-than-expected increase in housing starts during July didn't do anything to derail the stock this session. Housing starts for July increased 1.7% month-over-month to an annualized rate of 546,000 units, which is less than the rate of 555,000 units that had been widely anticipated. Building permits for July fell 3.1% month-over-month to an annualized rate of 565,000, which is below the rate of 573,000 that had been expected…’ But, just a push of the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily.

However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GPD, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance.

There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GPD growth in the present and then revising it lower in the subsequent quarters.’

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Kaufman on High Frequency Trading   ‘Sen. Ted Kaufman (D., Del.) has been banging the drum on the need for regulatory changes to high frequency trading for a while. His latest thoughts on the matter take the form of a letter to SEC Chairwoman Mary Schapiro urging — among other things — major high-frequency trading firms be required to register with the Securities and Exchange Commission. Dow Jones Newswires’ Jacob Bunge reports:…’

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

The Bond Market Is Signaling Trouble Ahead Claus Vogt | My outlook for the economy and the stock market has steadily and significantly deteriorated since March 2010.

China Drains Obama Stimulus Meant for U.S. Economy Bloomberg | Globalization is pitting the Wangs in China or Gandhis in India against the Smiths in the U.S. or Gonzalezes in Spain.

Chossudovsky: China could already be world’s largest economy It’s widely predicted that China’s economy will be the largest in the world by 2020, overtaking the U.S. Only this week the country surpassed Japan to become the world’s second biggest economy by GDP.

Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches Those patiently following the Greek Bond-Bund spread to its inevitable conclusion have been fully aware that the plan that Europe is betting its entire future on, is patently flawed: namely that austerity, by its definition does not, and will not work.

Malaysian Province Moves To Gold And Silver-Based Currency In “Main Islamic Event Of The Last 100 Years” More world governments are “just saying no” to the ponzi. Last week, the Malaysian government of Kelantan “said it was introducing a new monetary system featuring standardised gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire.”

Analysts Foresee $1,300 Gold By Year-End Worries about a fragile U.S. economy are likely to keep investors shifting toward gold and could push the metal to fresh record highs near the $1,300 area by year-end, analysts and traders say.

Kicked In The Groin: Health Insurance Companies Are Dramatically Increasing Premiums Due To The New Health Care Law And There Is Not Much We Can Do About It Wasn’t the new health care reform law supposed to make health care more affordable for everyone? Well, imagine my surprise when I opened up a letter from my health insurance company recently and found out that my health insurance premiums were going up by nearly 50 percent.

geithner: Fannie, Freddie in need of overhaul (Washington Post) Now this is an understatement from tiny tim, God bless us everyone. I think tiny tim’s more concerned with public perception over their haul of taxpayer dollars.

Manufacturing, housing sectors exhibit diverging fortunes (Washington Post) I’d say understatement but I truly don’t know what this headline means juxtaposed with ‘fortunes’.

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

China Slashes U.S. Government Bond Holdings By The Largest Amount Ever China began reducing its holdings of U.S. government bonds again in June, and in fact cut just its holdings by the largest 1-month amount ever.

18 Signs That America Is Rotting Right In Front Of Our Eyes Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying.

Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’ As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically unscathed.

Tons of gold imports turn to dust on arrival Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Paul Joseph Watson | In the face of censorship, it’s more important than ever that people get the word out about Google’s plan to kill the web.

‘Bombshell Barack’ and ‘Kill Web’ Heading to Top of Google Trends Matt Ryan | Alex Jones would like to again thank everyone for their continued support in spreading the message of truth.

Google Plans To Kill Web In Internet Takeover Agenda Paul Joseph Watson | Doomsday scheme will silence independent voices for good.

Provocateurs Spray-paint “Infowars.com” on Private Property in Pennsylvania Kurt Nimmo | Fox News station in Pennsylvania insinuates Infowars.com behind incident.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Having at first appeared as normal, our earlier article about Google’s plan to kill the web has been completely de-listed from Google News. This is completely unprecedented and underscores how keen Google is to prevent people from finding out that it is a CIA-NSA front that is preparing to completely end the Internet as we know it with the Verizon net-neutrality killing deal.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`
`Death of the 'McMansion': Era of Huge Homes Is Over... Bankruptcies Reach Nearly 5-Year High... REPORT: China targets U.S. troops with arms buildup...`
`Military power growing...`
`Pentagon warning...`
`Risky game on the high seas...`
`How long can America fend off the dragon? 'Without a revolution, Americans are history'...`

From Good to Mediocre ‘Through last Friday, 2,127 US companies had reported quarterly numbers this earnings season. What started out as a strong earnings season is going out with a whimper (earnings season ends tomorrow with Wal-Mart's report)…’

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

Without a Revolution, Americans Are History The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”

How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO As if its rivals didn’t have reason enough to hate Goldman Sachs (GS), they’ve just been given one more reason.

China Favors Euro Over Dollar as Bernanke Alters Path Bloomberg | China, whose $2.45 trillion in foreign-exchange reserves are the world’s largest, is turning bullish on Europe and Japan at the expense of the U.S.

High Probability for Lower Market Prices Ahead ‘…Economic numbers being what they are (very poor), we should expect a downward revision of second quarter GDP to 1.5% from the originally disappointing number of 2.4%. As more data is being released it is apparent that we are witnessing even further deterioration here in the third quarter…We may have reached a tipping point where many are tired of others being the benefactors of taxpayer money …’

Gold Providing Safety During Market Downturn ‘ … The death cross occurs when the 50 day moving average crosses the 200 day moving average on the downside. These patterns, when combined with other technical indicators can predict major market downturns…THE ODDS OF A LONG TERM DOWNTREND ARE BECOMING HIGHLY PROBABLE. THESE SIGNALS COULD POSSIBLY INDICATE THE START OF A TWELVE TO EIGHTEEN MONTH DOWN CYCLE. Gold, on the other hand, has shown great relative strength despite the general markets correcting and negative sentiment about the economy from Washington…’

Pension check may not be in the mail Chicago Tribune | Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits

Back to School? Bring Your Own Toilet Paper New York Times | “The first time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper, said of the list, which also included perennials like glue sticks, scissors and crayons.

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Obama Says Private Accounts Would Endanger U.S. Social Security Benefits President Barack Obama said Republican proposals to have people invest Social Security benefits in private accounts would increase the U.S. budget deficit and put retirement money at risk to “the whims of Wall Street traders.”

The Trade Deficit Nightmare When they hear the word deficit, most Americans immediately think of the U.S. government budget deficit which is rapidly spiralling out of control.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal Reserve is undertaking a “dangerous gamble” by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

China surpasses Japan as world's No. 2 economy (Washington Post)   [ As if we didn’t see that coming! ]

Dr David Kelly was on a hitlist, says UN weapons expert as calls grow for full inquest Mail Online | Dr Richard Spertzel claimed Dr Kelly was on a ‘hitlist’ in the final years of his life.

Iran Attack This Week? Kurt Nimmo | John Bolton and the neocons refuse to accept that Iran’s facility will produce nuclear energy and insist it will be used to create nuclear weapons.

The Hidden Tragedy of the CIA’s Experiments on Children Shortly after deciding to initiate her own LSD experiments on children, Bender attended a conference sponsored by a CIA front group, the Josiah Macy Foundation.

Shilling for War on Iran I guess I was naïve in thinking that The Atlantic and its American-Israeli writer Jeffrey Goldberg might shy away from arguing for yet another war — this one with Iran — while the cauldrons are still boiling in Afghanistan and Iraq. Even world-class chutzpah must have its limits, I had thought.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

Drudgereport: `O FALLS TO NEW LOW AT GALLUP DAILY... China overtakes Japan as No. 2 economy...`
`China Favoring Euros Over Dollars...'Without a revolution, Americans are history'...`
`NEWSWEEK: World's Best Country: Finland [USA #11]...`
`House to cut food stamps to fund Mrs. Obama's 'let's move' initiative... Banks to benefit most from White House effort to fight foreclosures... Petraeus: 'We're doing everything we can' …[Sounds like a plan!]...`
`Builds Case for 'Success' in Afghanistan …[If only words could make it so!]...`
`Karzai asks Obama for review of war...`
`Foreign troops deaths pass 2,000... MYSTERY: West Wing of White House covered in tarp...`
`Harvard University fund sells all israel holdings... … UPDATE: Harvard insists israeli shares sale not driven by boycott... GOOGLEVERIZON Deal: Fears for Privacy...`

HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On Friday August 13, 2010, ‘… The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late

When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media

By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.

April 19, 2010 'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' - Bloomberg

April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal

April 27, 2010 'Greece contagion fears unfounded' - Reuters

May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' - Bloomberg

Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash

In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), UltraShort Russell 2000 ProShares (NYSEArca: TWM - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate

On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust

Even when basing the current P/E ratio on overly optimistic estimates, it is still far away from the P/E ratios seen at historic market bottoms. The same holds true for dividend yields. A look at various valuation measures shows that the market is overvalued by much more than just 10 or 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy…’

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract … After decades of abuse, it’s time for the Fed to take make a dramatic exit, because the US economy can’t take it anymore.’

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

The Dollar’s Third and Final Act LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful If you haven’t seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it’s going to feel like it is.

Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

States get grants to help regulate health insurance rates (Washington Post) Sounds like a plan … born of capital hill math; viz., ie., just sayin’, $1 million for a bureaucracy that will cost many millions, even as states like the nation itself are defacto bankrupt.

Regulators consider toughening overdraft rules even more (Washington Post) Wow! They’re tough … when talking millions instead of the hundreds of billions of taxpayer funds they’ve frittered away. You can’t make this stuff up!

Barclays Bank agrees to forfeit $298 million to authorities (Washington Post) Well, they haven’t gotten to the point just yet where it’s just not worth doing business in america, but they’re workin’ on it and getting’ there!

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Makeup of Obama's housing reform panel draws ire (Washington Post) [Wow! Talk about late to the party! I mean … a conference? It’s not as if this was some new or novel problem coming down the pike. Then there’s the everything but the core issue / problem approach that seems recurringly fashionable.] Advocates say that the administration is excluding consumer and community groups from playing prominent roles in a government-sponsored conference next week that will kick off efforts to overhaul national housing policy.

Economic indicators reflect weak recovery (Washington Post) [Recovery? I say they’re dreamin’! So does Schiff, (Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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 ).

Warnings: Social Security at risk (Washington Post) [ Not this again! It bears repeating, that was always a bad idea and there was a plethora of reasons set forth on my site as to why the social security privatization plan being shilled by moron war criminal dumbya bush on behalf of the wall street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as america / the social security system is, the nation and system would have been wiped out by privatization debacle. Talk about too big to, but still failed. It was a bad idea then, and though accusations may fly as to fear mongering, the reality of the venality attendant to such a preposterous course on behalf of the wall street frauds requires vigilance, scrutiny, and discourse concerning even the remote possibility of such a fool-hearty betrayal of the citizenry of the nation. As such, as off the mark as wobama has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama says GOP wants to privatize program, but liberals see a different threat.

Foreclosures surge 9 percent in July (Washington Post) Those glass-half-full frauds on wall street along with the administration will be cheering this unequivocally bad news with a dubious retort as ‘used home sales will rise’ … riiiight! Anything you say …

Stocks dip for third straight day (Washington Post) [Investor fears? How ‘bout reality. Even an essentially non-business site as Drudge has the pulse of this pervasive realization that ‘those dogs of happy days are here again don’t hunt no more’. Check the heads: `DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments... DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... and`Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression. `My take:` This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed

Pearlstein: The FCC and the bandwidth wars (Washington Post) [The internet has been among the few areas of growth and american prominence, at least at this point in time. Clearly, as with the throng that heralded in NAFTA, the self-interested voices of ie., google, verizon, etc., are similarly anathema to the greater good (as was NAFTA). Berners-Lee spoke against such parochialism in no uncertain terms, much as did Ross Perot on NAFTA and history has proven Perot correct as is so of the mind numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

AP Business Highlights ‘Jobs picture dims as unemployment claims rise WASHINGTON (AP) -- The economy is looking bleaker as new applications for jobless benefits rose last week to the highest level in almost six months. It's a sign that hiring remains weak and employers may be going back to cutting their staffs. Analysts say the increase suggests companies won't be adding enough workers in August to lower the 9.5 percent unemployment rate. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. That's the highest total since February. Analysts had expected claims to fall…’

Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!] AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest AAII Sentiment Survey. Despite the size of the increase, the proportion of individual investors expecting stock prices to rise over the next six months is only at a two-week high. The historical average is 39%. Neutral sentiment, expectations that stock prices will stay essentially flat over the next six months, fell 1.3 percentage points to 30.1%. The historical average is 31%. Bearish sentiment, expectations that stock prices will fall, dropped 8.1 percentage points to 30.1%. This is a 14-week low. The historical average is 30%. The survey period, Thursday through Wednesday, needs to be taken into consideration when looking at these results. Stock prices were essentially flat through most of this week's survey period (with the obvious exception of yesterday), giving some investors hope that a short-term bottom had been established. Though there were big changes in bullish and bearish sentiment, both optimism and pessimism are close to their historical averages. As a result, I would argue that individual investors' confidence in the market remains fragile…’

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer A SOLID TRACK RECORD **An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. ..LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed… Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal ... When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE …High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`PAPER: 10 reasons why Obama presidency is in meltdown...`
`GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%... Obama abolishes White House position dedicated to transparency...`

`Michelle Obama popularity falls...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Bombshell: Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA files that document the agency’s connections to the lives of Barack Obama and his mother, father, grandmother, and stepfather.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Having at first appeared as normal, our earlier article about Google’s plan to kill the web has been completely de-listed from Google News. This is completely unprecedented and underscores how keen Google is to prevent people from finding out that it is a CIA-NSA front that is preparing to completely end the Internet as we know it with the Verizon net-neutrality killing deal.

Google Plans To Kill Web In Internet Takeover Agenda The net-neutrality ending deal with Verizon is just the beginning of Google’s plans to kill the open and free Internet as part of their takeover agenda to completely control the world wide web and force independent media websites, radio and TV shows out of existence for good.

Obama’s pledge to close down Guantanamo is ‘not even close’ Barack Obama’s pledge to shut down Guantanamo Bay will not be honoured until at least a year after the President’s self-imposed deadline – and may not be completed in his first administration.

US-Vietnam Military Drills Crank Up Tensions With China The U.S. Navy just began military exercises with Vietnam in the South China Sea and China, which had in the past been more accepting of the U.S.’ naval power in the region, is now showing its anger, according to The Asia Times.

Poll: ‘No’ to US wars at all time high A new opinion poll says the number of Americans opposed to the US wars in Afghanistan and Iraq is at an all time high.

Constitution “Silly Stuff,” Says Illinois Congressman Democratic Congressman Phil Hare, who caused outrage earlier this year when he told constituents who asked him about the legality of the health care bill, “I don’t worry about the constitution,” has sparked fresh consternation after he was caught on camera in an Illinois hotel labeling the founding document of America “silly stuff”.

Google’s Plans to Take Over The Internet Exposed! Google’s agreement with Verizon to speed certain Internet content to users opens the door to the complete sterilization of the world wide web as a force for political change. Under Google’s takeover plan, the Internet will closely resemble cable TV, independent voices will be silenced and the entire Internet will be bought up by transnational media giants.

‘Pre-Crime’ Reaches Number 1 Google Trend Spot Matt Ryan | Steve Watson’s incredible article about the use of pre-crime technology was picked up by large news sites such as the Drudge Report and others.

Pre-Crime Technology To Be Used In Washington D.C. Steve Watson | Computers predict what crime will be committed where, by who and when.

I-Dosing: Another Excuse for Government Control Over Our Lives Kurt Nimmo | Government claims i-dosing induces the same kind of mind-altering effects as marijuana, cocaine, peyote, and opium.

Ehrlich and Holdren: Death “Reasonable Price to Pay” for Well-being of Society Jurriaan Maessen | The head-hunters of the scientific dictatorship are not simply powerless psychopaths exchanging abstract ideas.

Ground Zero Mosque Imam Is Globalist Stooge Steve Watson | CFR member receives financial backing from who’s who of global corporate elite.

Alex Jones and MSNBC’s Hit Piece: The Lost Footage Infowars.com | The “rest of the story” found its way on YouTube and Alex Jones’ Facebook page.

Two Films That Blew Bilderberg Wide Open Paul Joseph Watson | Fidel Castro’s spotlight on the Bilderberg clique is part of a global awakening to the new world order.

Zionist Lobby Paid Off U.S. Journalists To Sell Israeli Foreign Policy Paul Joseph Watson | Declassified documents take on deeper significance in light of Jeffrey Goldberg and The Atlantic Monthly’s efforts to propagandize for an attack on Iran.

The Ground Zero Mosque and Property Rights Kurt Nimmo | The issue is not terrorism or 9/11, but the sanctity of the individual and his property.

Orwell in charge? Kucinich compares Iraq ‘exit’ to Bush’s ‘Mission Accomplished’ “Who is in charge of our operations in Iraq , now? George Orwell? A war based on lies continues to be a war based on lies. Today, we have a war that is not a war, with combat troops who are not combat troops. In 2003, President Bush said ‘ Mission Accomplished ‘ . In 2010, the White House says combat operations are over in Iraq , but will leave 50,000 troops, many of whom will inevitably be involved in combat-related activities.

High-tech carts will tell on Cleveland residents who don’t recycle … and they face $100 fine The chips will allow city workers to monitor how often residents roll carts to the curb for collection. If a chip show a recyclable cart hasn’t been brought to the curb in weeks, a trash supervisor will sort through the trash for recyclables.

Zionist Lobby Paid Off U.S. Journalists To Sell Israeli Foreign Policy Newly declassified documents highlighting how the Israeli lobby routinely paid off journalists in the U.S. corporate media to write pro-Zionist propaganda in support of Israeli aggression against Palestine and Iran during the 60’s have taken on new significance after the Atlantic Monthly, which is named in the documents as being complicit in the bribing scandal, recently published a cover story hyping the necessity and inevitability of an Israeli attack on Iran.

CIA Launches “Counterproliferation Center” as Iran Attack Rhetoric Kicks Into High Gear Kurt Nimmo | CIA will peddle propaganda required to sell the increasingly irrelevant American people future wars.

Ron Paul: The American Empire Can’t Afford Another War Infowars.com | Alex welcomes back Congressman Ron Paul to the show to discuss the latest on Iran, legislation in the house, and more.

Air Force Issues Memo Warning Soldiers, Employees Not to Read WikiLeaks Docs Kurt Nimmo | Memo confirms that the Pentagon is monitoring web activity of its soldiers and employees.

9/11 Heroes Blast Obama: Forget The Mosque, We’re Dying Hero 9/11 first responders, many of whom are sick and dying, have slammed Obama in an open letter for ignoring their plight while taking the time to outline views on a proposed mosque close to ground zero, the site of the 2001 attacks that felled the twin towers.

Chaos Erupts in California as Over-Taxed Residents Express Outrage The city of Bell, CA has recently been exposed for having corrupt and overpaid city officials receiving salaries larger than the President of the United States. Residents who have recently learned they were over-taxed to pay for the government workers took control of a City Council meeting and demanded resignations.

China Reacts Angrily To Pentagon Report Beijing reacted angrily Wednesday to a Pentagon report expressing worries about China’s burgeoning military capabilities, calling such concerns baseless.

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Former Pakistani Intel Chief Fears World War Three Is Imminent Former Pakistani General and intelligence chief Hamid Gul appeared on the Alex Jones Show yesterday for a full hour in what turned out to be a fascinating extended interview, addressing the major geopolitical issues that are shaping modern history.

Neocon Bolton Renews Call for Israel to Bomb Iran Last Friday the former interim UN ambassador during the Bush administration went on Fox News and warned that if Israel did not conduct a bombing raid against Iran’s nuclear energy program within a few days, the window of opportunity would be lost. Bolton made his comment following a report last week that Russia will begin loading nuclear fuel at Iran’s Bushehr reactor on July 21.
Google search: ‘bolton, neocon, mental problems’ About 143,000 results (0.37 seconds)
Here’s the first of many pages. Yeah … he’s that bad / psychotic!
· Think Progress » John Bolton jokes about nuking Chicago, entire ...

Feb 26, 2009 ... Bolton, the NEOCON gift that keeps on giving the Repuglycans zero ... The problem with McCain was this. As a veteran and a POW he get's high marks. ..... to get some treatment at the closest mental health facility. ...
thinkprogress.org/2009/02/26/bolton-nukes-chicago/ - Cached - Similar

· Think Progress » Even After North Korea Frees American Journalists ...

Aug 4, 2009 ... Bolton, like all neocons, doesn't understand that there is ..... Of course, we all know it was BUSH who caused the problem in the first place, right? .... they view the world in the light of their own mental disorder, ...
thinkprogress.org/2009/08/.../bolton-north-korea-journalists/ - Cached - Similar

Show more results from thinkprogress.org

· Breaking: Neocon John Bolton Names Dick Cheney "Conservative Of ...

Dec 21, 2009 ... Re: Breaking: Neocon John Bolton Names Dick Cheney "Conservati ... republicanism/conservatism is a mental illness that is killing America and ... Problem is one side will shamelessly try and stack the deck in their favor ...
crooksandliars.com › Blogs › Logan Murphy's blog - Cached - Similar

· John Bolton's Astonishing Neo-Neo-con Rewrite of History ...

Apr 17, 2007 ... On March 25, John Bolton was interviewed by BBC Newsnight's Jeremy Paxman (video here). ... I think the real problem was in not relying more on Iraqis. .... BTW, a mental giant, you are not. The best thing to happen to ...
www.democrats.com › Blogs › Bob Fertik's blog - Cached

· Bolton suggests nuclear attack on Iran « LobeLog.com

Bolton and his neo-con crazies aren't setting the agenda anymore, ... And I do not mean the mental condition of Mr Bolton and his fellow neocons. ...
www.lobelog.com/bolton-suggests-nuclear-attack-on-iran/ - Cached - Similar

· Don't Hold Your Breath, Ambassador Bolton - Atlas Shrugs

May 26, 2009 ... It's a special kind of mental illness. ... Bolton has been derided as "the neocon's neocon" who "laps up the hosannas of fellow ...
atlasshrugs2000.typepad.com/.../dont-hold-your-breath-ambassador-bolton.html - Cached

· The BRAD BLOG : The Fall of the NeoCons: Bye Bye Bolton

Dec 4, 2006 ... Clyburn: E-Vote 'Hacked'; Rawl: 'Systemic Software Problems' .... Add 'The Fall of the NeoCons: Bye Bye Bolton' to Del.icio · Add 'The ... The Army's Lack of Mental Health Treatment for Returning Troops" NEXT STORY » ...
www.bradblog.com/?p=3873 - Cached

· Ambassador John Bolton: Israel Has 8 Day Deadline to Attack Iran ...

30 posts - 4 authors - Last post: 21 hours ago

"Religion is science for the mental ill" - Myself ... John Bolton is a Bush neo con,,, obviously broke and needing the money. ...
www.godlikeproductions.com/forum1/message1163684/pg2

Get more discussion results

· [World Wide News Flash] Bolton

New article on darkpolitricks: Neocon Bolton Renews Call for Israel to Bomb Iran http: darkpoltweeter (Dark Politricks RT): New article on darkpolitricks: ...
www.wwnewsflash.com/bolton

Get more results from the past 24 hours

· [PDF]

The Neocon Factor in - The Zealots of Dominance: The Neocon Factor ...

File Format: PDF/Adobe Acrobat - Quick View
a sweeping diagnosis, it's clear that mental health has been a problem within ...... Neocon icon John Bolton, Bush's abrasive former Ambassador to the UN, ...
www.sf911truth.org/neocons.pdf

Ban Ki-moon’s Top Advisor: Scientific Elite Should Spearhead Global Population Control “The fertility reduction and stabilization of population is crucial. He (Sachs) concluded by urging for the adoption of a globally agreed action plan at next year’s Summit to achieve the MDGs by 2015, and proposed to form Working Groups with members of the delegations around particular themes. He characterized this effort as not negotiation, but as global problem solving and suggested that the Working Groups would brainstorm on the globally agreed plan.”

Obama, the one-term president [ The fact is, as I’ve previously commented, he’s ok with and has already accepted his one-term ‘being there’ failed presidency which explains his huge divergence from his promised change, among other promises and the false expectations he created thereby. He lacks courage, of course; but that’s become so typically american and he’s very typical. ] Q: Will Barack Obama be a one-term president? A: Yes, he might last that long.

Dreaded Hindenburg Omen Will Play Out Within 4 Weeks UBS Financial Services Director Art Cashin says that we’ll know within 3 or 4 weeks whether the dreaded Hindenburg Omen, a set of market factors that precede a stock market collapse, will unfold as many are now predicting.

Desperately Seeking Accommodation: Iran Offers U.S. Chance to Build Nuclear Power Plants Kurt Nimmo | It is extremely unlikely the U.S. take Iran up on the offer.

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Former Pakistani Intel Chief Fears World War Three Is Imminent Steve Watson | General Hamid Gul points to “dark impulse” controlling US system.

Obama: All In The Company Wayne Madsen | CIA connected to institutions and individuals figuring prominently in the lives of Barack Obama, his mother, father, grandmother, and stepfather.

Exposing World Government: United We Fall Documentary Now Featured on Prison Planet.tv Kurt Nimmo | United We Fall breaks down the North American Union and how “free trade” agreements between the United States, Canada, and Mexico are impoverishing people and stripping away national sovereignty.

The Ecstasy of Empire Paul Craig Roberts | Without a revolution, americans are history.

Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats Steve Watson | Kentucky Senate candidate Rand Paul made an impassioned speech this weekend slamming the actions of the Obama administration for continuing a big government agenda at the expense of the American people.

Hal Turner Betrayed and Burned by Government He Served Kurt Nimmo | The case of Hal Turner should serve as a warning to those considering cooperating with the government.

Internet Kill Switch Bill Moves Closer To Senate Vote An Internet kill switch bill that would give President Obama the power to shut down parts of the world wide web for a period of at least four months without congressional oversight has moved closer to a Senate vote, with one of its primary advocates, Democratic co-chairman of the House Cybersecurity Caucus Jim Langevin, threatening a “cyber-9/11″ if the legislation is not quickly passed.

Exposing World Government: United We Fall Documentary Now Featured on Prison Planet.tv United We Fall, a documentary by Bryan Law and Dan Dicks, breaks down the North American Union and how “free trade” agreements between the United States, Canada, and Mexico are impoverishing people and stripping away national sovereignty.

Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats Kentucky Senate candidate Rand Paul made an impassioned speech this weekend slamming the actions of the Obama administration for continuing a big government agenda at the expense of the interests of the American people.

AT&T claims net neutrality is oppressive US TELECOM AT&T has come out in support of Google’s contention that wireless communications are different than wireline Internet services.

Government Using Google Earth To Loot Destitute Americans Aerial imaging technology is being used by the government to spy on Americans in an effort to collect revenue and enforce ordinances on swimming pools without safety certificates, junk cars being stored without permission, unlicensed porches, and a myriad of other petty transgressions that the state is feeding off in complete violation of the Fourth Amendment to suck citizens dry of whatever income they have left after being looted of trillions of dollars in wealth that the state has transferred to foreign banks.

On Facebook: Israeli soldier posed with bound Arab (AP)

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Military Industrial Complex: Of 158 retired generals advising wars, 80% tied to defense industry; 29 are defense CEOs USA Today | Of the 158 retired generals and admirals identified as mentors, 80% had financial ties to defense contractor; 29 were company executives.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Obama Approval Rating Revisits Rock Bottom Despite Positive Media Spin Despite positive corporate media spin amidst a cacophony of criticism from both sides of the political spectrum, Barack Obama’s approval rating matched its record low today according to Rasmussen Reports.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Activists Take On Fluoridated Water in Wichita Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Illegal Immigrants Account for 8% of U.S. Newborns, Study Shows As many as 340,000 of the 4.3 million babies born in the U.S. in 2008 had at least one parent who was an illegal immigrant, according to a Pew Hispanic Center study of Census Bureau data.

Infowars.com Poll: Attack On Iran Imminent Kurt Nimmo | Nearly 60% of respondents to an Infowars.com poll believe the U.S and Israel will attack Iran in the near future.

Activists Take On Fluoridated Water in Wichita Infowars.com | Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

China focuses on military might (Washington Post) [And the big difference here (between them and defacto bankrupt america) is that ‘THEY CAN AFFORD IT’ and are not fighting nation-bankrupting, anti-american-sentiment-creating wars all over the place.] Nation is quickly modernizing forces, extending influence deep into Pacific and Indian oceans.

Karzai wants private security firms out of Afghanistan: KARZAI WANTS COMPANIES OUT U.S. calls 4-month deadline 'very challenging' (Washington Post) One too many civilian killed. Maybe they figured out that american non-strategy employing the Hegelian methodology of creating problems that American firms can solve. Doomed to failure, they eventually catch on. The bushes were famed for same but wobama has foolishly been no slouch in this regard.

Afghans still see U.S. as bad guy (Washington Post ) [Riiiiight! Sounds like a plan … winning hearts and minds throughout the world … great for exports also as such ‘won hearts and minds’ just love to buy american.] American, NATO forces retain blame for civilian deaths despite spike from insurgent violence.

U.S. looks to replicate Iraq strategy, tactics (Washington Post ) [Oh right! Stick with that winning plan that worked so swimmingly (as in drowning, in ie., debt, death, regional if not wordly anti-american sentiment, etc.)]. In Kandahar, U.S. military officials hope that a secure green zone, similar to the area in Baghdad, will make it more difficult for Taliban insurgents to mount attacks to key buildings in the Afghan city.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar Yet another step in the escalation between Iran and the US came earlier today.

The Cycle of Violence in Afghanistan Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years: the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge. This should be self-evident.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday after noon in Edmonton Alberta posting more fliers, posters etc. had a great time had a few people harass me but nothing big. Just gave me motivation to do more!! Resistance is Victory. Never Forget that.!!

Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on wheat exports following widespread fires in the country sent food prices skyrocketing by 19 per cent in just a single week as fears grow that global volatility in foodstuffs and commodities could lead to a worldwide inflationary timebomb accompanied by widespread food riots.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people What the great French historian Alexis de Tocqueville would make of today’s Obama administration were he alive today is anyone’s guess.

The Coming Collapse of The U.S. Political Establishment The last U.S. puppet regime to fall will be. . . the puppet regime in the White House.

Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have been killed in Afghanistan so far this year, mostly by Taliban insurgents, a leading Afghan rights group said Sunday.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran announced the addition of four new submarines to its fleet Sunday, saying the Iranian-manufactured vessels to be deployed in the Persian Gulf have sonar-evading technology and can launch torpedoes and missiles simultaneously.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald | If Obama approves an attack on Iran, war will spread through the Middle East and Asia and cause hundreds of millions of deaths, Castro warned.

Who poses the real threat to the Internet? A new opinion piece on CNN.com argues that it’s the government, not the companies providing internet access, that is the real danger to free speech and the internet. [I personally have found more often and prospectively problematic is that said government / company distinction is one without a difference when the government flexes muscle, particularly with leverage as ie., to non-performing monopolist microsoft, nsa/cia partner google (to a lesser extent at this juncture), cnn/timewarner cable (incompetence also a factor), fedex, etc.].

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news...`

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`Michelle Obama 'modern-day Marie Antoinette'...`

`NYT: 'Leaves the taxpayers with a hefty bill'...`
`While Obama preaches sacrifice, his family frolics in Spain...`

`Gazpacho, turbot, veal and ratatouille with the king...`
`Lavish Obama vacation in time of economic turmoil raises eyebrows...`
`BAKER: 'Leaves taxpayers with hefty bill'...`
`Hollywood star-studded gala at first lady's luxury hotel...`

`MICHELLE O'S $375,000 VACATION?! Strolls Marbella after State Dept. 'racist' Spaniards gaffe...`

`White House calling: Please will you make a coat for Michelle...`

`Boy Scouts boo Obama... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`60,000 babies born to 'noncitizens' get U.S. birthright - in Texas alone...`

`Dutch become 1st NATO member to quit Afghanistan...`

Public confidence in Obama reaches new low (Washington Post). Six in 10 Americans lack faith in Obama and hold lower esteem for members of Congress, according to the latest Washington Post-ABC News poll. Such stats as this tend to typify scenarios as this where you break every significant campaign promise that got you elected, from endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on wall street, and the growing realization of ‘typical’: Public confidence in Obama reaches new low (Washington Post) Six in 10 Americans lack faith in Obama and hold lower esteem for members of Congress, according to the latest Washington Post-ABC News poll. Such stats as this tend to typify scenarios as this where you break every significant campaign promise that got you elected, from endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on wall street, and the growing realization of ‘typical’:

But still it’s ‘hands off fraudulent wall street’ to theirs, the nation’s, and the world’s detriment. Firms subpoenaed in attempt to regain Fannie, Freddie losses (Washington Post). But there’s a reason:

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘`In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’    `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look. [ The Obama Deception Number 1 on U.S. Google Trends ]

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.    [ The Obama Deception Number 1 on U.S. Google Trends ]

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

`Pentagon warns Congress: Accounts running dry...(Drudgereport) Isn’t this headline eerily reminiscent of that seminal B film by Roger Corman for Jack Nicholson, ‘Little Shop of Horrors’ (and remake) wherein a murderous vegetable / plant clamors incessantly and insatiably, ‘feed me’.`Eight U.S. service members killed in series of attacks in southern Afghanistan (Washington Post, July 15, 2010) . This ridiculous war apparently for the sake of the american sponsored reinvigorated heroin trade was a bad idea ab initio even if america wasn’t defacto bankrupt.

Concern over smashing into the 'wall of debt' (Washington Post) Oh, they’ve hit the wall alright; and, it’s not just debt.

I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. This market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

Biggest wall will be reality:

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into.’

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

Economists worry women, minority business owners' gains will be lost (Washington Post) Little bit late for ‘economists worry’; talk about senile greenspan / no-recession bernanke economics / prognosticating. Does anybody recall the merciless drubbing (and pressure) that Ross Perot got for predicting the ill effects of NAFTA and standing against the tide. In america today, the best men never win; that’s reality, and also the sign of decline.

Exports are up, but where are the jobs? (Washington Post) Gone with the wind? Sorry, I must have been thinking of million dollar movies. Seriously though, I dare say everyone knows they were gone with that ‘bi-partisan executive / congressional, think-tank, cia / nsa ill wind’ that others might refer to as flatulence / passing gas, also called NAFTA, and also proudly hailed by the foregoing as ‘strategy’. They’re gone, and never to return. Moreover, the flipside of the exports, viz., imports, doesn’t bode well despite the fraudulent wall street b s* and their chorus of cheerleaders in washington. Some might say self-delusion but I would say fraud covers all.

Companies pile up cash but still won't add jobs (Washington Post) Unlike the public sector (which now exceeds private sector in job gains and average compensation), the private sector attempts to mesh hiring with economic supply / demand factors to maximize (shareholder) profits / wealth. Whatever faults american companies have, with relatively few exceptions, this still remains a very basic fundamental and building surplus (generating profits) is a necessary precept to ensure survival and the capacity to be a good ‘citizen’ so to speak. Then there’s reality:

Retail sales down for 2nd consecutive month (Washington Post) Another ‘Come on’ day on fraudulent wall street! This time it’s the unexpected downward revision to previous market-frothing retail sales report and poor retail sales and plunge in mortgage applications and then there’s the fed minutes pointing to extended bad economy. See Dave Fry’s (Daily) summary below referencing in euphemistic fashion, yet another ongoing manipulation also known as fraud. (Absent prosecutions, they’ll continue to do what comes natural to frauds on wall street). Great opportunity to sell / take profits since much worse, also called reality beyond the b* s, to come. Then there’s also the bad but typical news; viz., retail sales, mortgage apps, economic outlook down, and yesterday deficits, trade and budget, up.

Mideast Digest: Wow! Belfast, Northern Ireland; and in the Mideast Digest Section, of all places. It’s been a long time. While I have had some difficulties with Irish mob in the context of litigation but only tangential to my primary RICO action vis-à-vis the Italian mob (and similarly tangentially the jewish mob and then primarily what I learned to be ‘governmental mob’, federal, state, local, derivative thereby and the sine quo non of corruption / bribery / synergy that spells decline for any nation), it is difficult to not be empathetic to the plight of an otherwise beautiful nation tainted only by the orange stain in that northern quarter. After all, what hasn’t england not mucked up from balfour to the mideast to now even their own nation having hitched a ride on the american / israeli crazy train. As a matter of disclosure, I must admit to an affinity for the Irish and somewhat fairly recently had been asked what I thought of Philadelphia to which without hesitation I immediately replied that Grace Kelly (truly magnificent by any standard) was born there. I could think of nothing else that could parallel such a distinction.

NATION NEWS DIGEST: J.P. Morgan Chase posts $4.8 billion profit (Washington Post) Yet another ‘Come on’ day on fraudulent wall street! This time it’s the unexpected jump in continuing claims for unemployment, yesterday the downward revision to previous market-frothing retail sales report and poor retail sales and plunge in mortgage applications and then there’s the fed minutes pointing to extended bad economy. Then there’s also now the ‘goldfinger factor’ as in goldman’s middle finger. When you defraud for many billions, paying $550 million is chump change. Goldman shares rocketed 5.5% in after-hours trading. No wonder Goldman called it "the right outcome for our firm shareholders and clients." (Absent prosecutions, they’ll continue to do what comes natural to frauds on wall street). Great opportunity to sell / take profits since much worse, also called reality beyond the b s, to come. Then there’s also the bad but typical news; viz., previous retail sales, mortgage apps, economic outlook down, and continuing claims for unemployment, deficits, trade / budget, up. (Just in: 7-16-10 Poll – only 43% of Americans approve of the Afganistan War, down from 52% in January, 2010)

Pearlstein: Can regulation beget innovation? (Washington Post) I believe the more seminal question to be, whether american companies, consistent with overall american decline and corruption in so pervasive a fashion, are capable of or inclined toward real innovation where enhancements to productivity, as well as greater profits, is the consequence as desired. Certainly there has been ‘innovation’ by the wall street frauds in the types of (ultimately worthless / fraudulent) paper and high frequency trade programs enhancing their bottom-lines but little else; and, those cutting edge ‘weapons of mass destruction’ produced or financed (israel) by america are hardly productive in the economic sense but innovative and profitable in the short run, and unwise and nation-bankrupting in the longer run which we’re in right now!

Goldman agrees to pay $550M (Washington Post) My own skepticism based on the disparate numbers (the size of the frauds compared to the relatively small fine) and as set forth in the initial reactions / headlines that immediately follow has been allayed somewhat by an interview on NBR with former SEC head Ruder who explained the very narrow scope of the settlement which in no way shelters goldman from the huge frauds they have perpetrated. So long as this is true in fact as well as law and in application, the SEC deserves praise as has been so under the auspices of ‘Mother Mary’ who appears to have the gonads lacking in prior SEC heads. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed.

Ex-Justice official: CIA may have exceeded limits (Washington Post) Wee doggies! This sounds like the stuff that SNL Weekend Update ‘Really’ skits are made of; also fitting into that list of queries as, ‘Is the Pope Catholic?’, ‘Do bears in the woods?’, etc.. Come on! Wake up! This is the kind of complicit cover-up / corruption found betwixt and between all three branches of the u.s. government leading ineluctably to america’s current decline and to which I’ve attested under penalty of perjury in the context of the RICO litigation [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ].

For now, spew of oil into Gulf of Mexico is halted (Washington Post) Well, thank God for small favors! I suggest they change that name, ‘integrity test’; that’s doomed to end in failure. Yes, the brits are back. They’ve clogged the well, with help from the ‘usual suspects’, the americans. What precision! What teamwork! Victory at last … riiiiight!

What Does The Financial Reform Bill Do Other Than Being Completely And Utterly Worthless? Is it possible to write a 2,300 page piece of legislation that accomplishes next to nothing and is pretty much completely and utterly worthless? The answer is yes.

U.S. Regulatory Bill Nears Passage With Republican Support The U.S. Senate plans to pass the financial-regulation bill on July 15 as Democrats secured the 60 votes needed to enact the biggest rewrite of Wall Street rules since the Great Depression.

Bloomberg Poll Finds Americans No Longer Drinking Kool Aid, 71% See Economy “Mired In Recession”

Fed Sees Slower Growth Wall Street Journal | Updated forecast to be released Wednesday afternoon with the minutes of the Fed’s late-June policy meeting is likely to show that officials have trimmed their second-half forecasts.

WHICH WAY IS THE MARKET GOING NEXT? Gomes: ‘Having been a technical analyst for the first 10 years of my investing career and a fundamental analyst for the past 15 years, I'm a believer that technical patterns form as fundamentals unfold. As such, if you know something about both, you can confirm both against each other. At this point in time, I see a market that is technically reaching up toward its 200 day moving average (2,250 for the NASDAQ). I also see a 50 day moving average that is threatening to drop below that 200 day moving average. Technically, that is usually a very bad sign for the market. The question is, "will the 50DMA drop below the 200DMA?" I think the answer is inevitably "yes". The thing about the moving averages, is that you can see which points of data are about to fall off. Meanwhile, you can make reasonable assumptions regarding the points of data that will take their place. By doing so, you can construct a range of probabilistic scenarios. In this case, some high numbers are about to come out of the 50DMA, making it go lower. Meanwhile, some low numbers are about to come out of the 200DMA, making it go higher. Since both are VERY close to each other right now, it's safe to assume that the 50DMA will indeed fall below the 200DMA. So, that's probably bad news for the market...technically. Fundamentally, it appears that Q2 turned out well for most companies. However, most of the investing world knows this and stocks have rallied about 8% on the news. Ever hear the saying "buy the rumor, sell the news"? Well, the rumor has been bought and the news is just starting to flow in. This means that we have to look at the NEXT bit of news to figure out what rumor the market will be buying or selling. To me, it's clear that the global economic environment will come back to the front burner as the #1 driver of stock prices...and that's bad news for stocks. A good Q2 does not mean that the future is bright. Rather, I believe that Q2 will represent the peak of earnings health. Starting in Q3, good earnings will become a bit harder to come by. Why?
1) Economic indicators are dropping fast. For all intents and purposes, the unemployment rate has not budged. Meanwhile, store shelves are stocked again, PCs have been upgraded, etc. In other words, the pent-up demand that drove the current rebound has almost run its course. What little remains no longer has the power to drive the economy as it has over the past 18-months.

2) "Follow the money". This is one of the most powerfully simple rules on Wall Street. When money is flowing into the economy (i.e. via lower interest rates or stimulus $$$), it's usually good for stocks..and vice versa. At present, interest rates can't go much lower and the numerous stimulus programs are losing effectiveness. This means that the money is no longer flowing in. Worse yet, the money that was spent is not generally viewed as having been money well spent. This does not bode well for a new stimulus package to come anytime soon. In other words, money is not flowing in AND doesn't appear poised to flow in anytime soon. In fact, state and municipal budgets are being cut (money flowing OUT), while they raise local sales and income taxes (more money flowing out). if federal taxes go up in 2011, as planned, even more money will be flowing out. If you follow that, you should be flowing out of the stock market. In short, barring a new stimulus package of other major money-flowing event, I believe the economy slips back toward recession. Whether or not we double-dip, we will almost certainty slip in that direction.

3) If you follow the money in Europe, you will run for the hills. Europe has decided to spin 180-degrees and shift from stimulus to austerity (if you don't know the definition, look it up -- you'll likely hear it again -- and not just from me). Effectively the opposite of stimulus, austerity will pull money away from the European economies...which tells us to pull money away from stocks. Worse yet, the effect of the EU/IMF bailout is already wearing off. Greek yields are rising again and Portuguese credit ratings have been reduced.

4) Global bubbles are bursting. Most notably, home sales in China and Canada are starting to fall. Remember what happened when the U.S. housing market cracked? That's right -- that's what started this mess in the first place.

5) Politically, this period in time has a tendency to be bad for stocks. There is uncertainty around the mid-year elections...and the market hates uncertainty. Historically, the political picture doesn't become clear until October, at which point we might expect a rally. Until then, expect the democrats to do everything they can to retain their jobs in November. That means, "stop pissing off the public"...and the public seems pretty pissed about how the stimulus $$$ worked out for them (or more accurately, how it DIDN'T work out for them). Thus, the political pressure will lean against further stimulus until after the elections.

The Bottom Line: I believe that the market will start to reflect these concerns very soon. These are real fundamental concerns, which you can see reflected in the technicals. As the market reaches the 50DMA and the 200DMA, it will be inclined to retreat (barring some new, hugely positive news). Meanwhile, the 50DMA is 90%+ likely to cross below the 200DMA, giving the market more reason to retrench. At some point, if the economy sinks far enough and if the market drops far enough, political pressure for more stimulus will mount. At that point, money will flow back into the economy. But that time is not now. Now, money is flowing away like the tide...and so should your invested capital. I'm not always right, but I do my best, based on the information before me. Based on what I see right now, the most logical conclusion is to expect a long, ugly summer for stocks. If I see information that changes that view, I'll be sure to post an update to this post. Disclosure: I have short positions against the market

NAACP Resolution Designed to Wreck Tea Party Movement by Playing Race Card Kurt Nimmo | The Tea Party movement is more popular than either the Democratic or Republican parties, so it must be destroyed.

Majority of Americans lack faith in Obama: poll Nearly 60 percent of American voters say they lack faith in President Barack Obama, according to a public opinion poll published on Tuesday.

Majority of Americans lack faith in Obama: poll Reuters | Nearly 60 percent of American voters say they lack faith in President Barack Obama, according to a public opinion poll published on Tuesday.       Top anti-war Democrat: Afghanistan war could ‘destroy’ Obama’s presidency Raw Story | An outspoken anti-war Democrat said ongoing US military efforts in Afghanistan could deeply imperil the presidency of Barack Obama and the fortunes of the Democratic Party.        Obama’s debt commission warns of fiscal ‘cancer’ Washington Post | The commission leaders said that, at present, federal revenue is fully consumed by three programs: Social Security, Medicare and Medicaid.

`DRUDGEREPORT: 'White House waving white flag'...`
`Panic button...`
`WIRE: Dems show signs of battle fatigue...`
`Federal deficit gap tops $1 trillion through June...`
`Republicans propose cutting Obama budget...'CREDIBILITY CRISIS'`

If not for the likes of ie., Dell Computer, most (ie., those die hard Mac, Iphone, Ipad, etc., aficionados among others) would say microsoft’s already in the clouds, so to speak. Microsoft takes aim at the cloud (Washington Post)

No help in sight for jobless (Washington Post) Well, from their perspective, they really don’t feel your pain, and, it gives the frauds on wall street another b s, market frothing, false talking point in the form of ‘fewer continuing claims for unemployment’. Then there’s that ‘ depression thing’.

The big crash — America plunges into Depression Alexander Cockburn

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn, pass the hot potato scam / fraud as in prior crashes.’

Making millions from mowing lawns [Sounds like a plan … riiiiight!] (Washington Post) Value Added | Entrepreneur's reinvestment and diversification … By Thomas Heath   For the less entrepreneurial at heart there’s always … flippin’ burgers … Washington, D.C.: the nation's (burger) capital? (Washington Post) | ‘The Washington area has emerged as fertile ground for ground chuck …’     Survey: A satisfied federal workforce (Washington Post) Indeed they should be since they’re totally expendable and a waste of taxpayer money.

Return of the No-Volume Melt-Up

Momentum Book Update: Trend Indicators Still Pointing Negative

Employment Picture Is Getting Bleaker

The Debt Party Is Over ‘… In a Ponzi scheme, the end comes when the marginal investor decides to do something else with his money. Then the house of cards stars falling apart. …’

Mattis: 'It's fun to shoot people' Washington Post - Ed O'Keefe - ‎Jul 9, 2010‎ By Ed O'Keefe President Obama's pick to lead military operations in Afghanistan, Iraq, Pakistan and the Middle East is an experienced ground combat commander, but also earned a stern rebuke in 2005 for controversial comments about combat operations.       Gen. James Mattis is named head of US Central Command Los Angeles Times      Blunt General Appointed to Lead Forces in Mideast New York Times

DRUDGEREPORT: `BOMBSHELL: Media Mogul Mort Zuckerman Admits He Wrote One Of Obama's Speeches...`
`Were White House Officials Ready to Expose Collaboration?`
`Zuckerman Now: Obama Barely Treading Water...`
`MICHELLE TELLS BLACKS TO 'INCREASE INTENSITY'`
`6 troops killed in Afghanistan...`
`DEM GOVS WARN: OBAMA SUIT VS. AZ IS 'TOXIC'`
`Debt panel has gloomy outlook...`
`Crisis Awaits World’s Banks as Trillions Come Due...`
`G20 looks to Beijing to drive global growth … They’re dreamin’! ...`

They say ‘stocks oversold’. Preposterous! Stocks have been overbought based on bad news or nothing at all, rallying on ‘not as bad as expected’. Even if that were true (I don’t believe anything they say), who cares what the criminally insane frauds on wall street say what they expect. It’s fundamentals, economic and financial, that ultimately count; but, in the meantime, they’re like termites eating away at the nation’s foundation with lightning fast computerized trade programs, all of which excessively huge commission churn / earn revenues are a net negative for the economy in real economic terms which is evidenced by unprecedented economic decline in all productive sectors of the economy. This is a great opportunity to SELL / TAKE PROFITS since this suckers rally to suck suckers in and keep them sucked in is based on fraud and b* s* alone and: ‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Technical Indicators Trigger Major Sell Signal ‘…In summary, the bearish picture is confirmed by technical indicators, a fundamental outlook, sentiment gauges, and valuations.Based on what the market considered fair market valuations at prior historic market bottoms, one can conclude how far stocks have to drop to reach the previously attained level of fair valuations …’

Simon Maierhofer: ‘On Friday July 9, 2010, 4:32 pm EDT It rarely ever happens, but when it does, it's serious. It has only happened nine times in 10 years. We are referring to crossovers between the 200-day and 50-day simple moving averages (SMAs).Very few technical indicators receive as much attention and media coverage as the 50 and 200-day SMAs. The 200-day MA is perceived to be the dividing line between a stock that is technically healthy and one that is not. It's a Big Deal It's a big deal when a stock or an index drops below the 200-day SMA. It's an even bigger deal when the 50-day SMA of any given stock or index drops below the 200-day SMA. Such a crossover reflects internal weakness - at least in theory. We'll discuss in a moment how the actual numbers match up with theoretic assumptions. On June 22, 2010, the S&P 500 (SNP: ^GSPC) and Dow Jones (DJI: ^DJI) dropped below the 200-day SMA. One day later the Nasdaq (Nasdaq: ^IXIC) followed. On July 2, 2010, the 50-day SMA for the S&P (NYSEArca: SPY - News) dropped below the 200-day SMA. On July 6, the Dow Jones (NYSEArca: DIA - News) followed. As of today, the Nasdaq (Nasdaq: QQQQ - News) is barely hanging on. This sounds like a doomsday scenario. Does a rigid analysis show that there is validity to 200-day and 50-day SMA crossover buy/sell signals? Let's investigate.Crossovers - Lagging but Notable Many argue that the SMA crossover is a delayed signal that emphasizes past weakness more than it foreshadows future declines. To an extent, that is true. There are other warning signals that point to a market turn long before the SMA does. For example, on April 16, 2010, the ETF Profit Strategy Newsletter noted an extremely low put/call ratio along with other bullish sentiment extremes. The newsletter stated that 'the message conveyed by the composite bullishness is unmistakably bearish. Once prices start to fall and investors get afraid of incurring losses, the only option is to sell (due to the low put/call ratio). Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' Prices did fall rapidly. The 22 trading days following the April 26 high, erased eight months worth of gains. It took a 17% drop for the SMA crossover to trigger a sell signal. When the ETF Profit Strategy Newsletter issued a strong buy signal on March 2, 2009, it emphasized that the developing rally would be a counter trend rally followed by a steep decline and maintained this viewpoint even though prices kept rallying relentlessly into the April highs. The SMA crossover now expresses the possibility that even lower prices are ahead. 200 and 50-day SMA Crossovers - How Accurate? How about the SMA crossover track record? Over the past 10 years, there have been nine S&P SMA crossovers with five sell and four buy signals. We have yet to see the results of the most recent sell signal. However, of the eight previous signals, six were correct. Average gains following each signal were 14.91%. $10,000 invested according to the buy/sell recommendations given right after the first sell signal was triggered on October 30, 2000 at S&P 1,399, would be worth $24,769 today. More Than just Crossovers If it sounds too good to be true, it often is. As is the case with so many technical indicators, crossovers need to be viewed in context with other indicators. In other words, take a step back and evaluate how crossovers fit into the larger picture. The larger picture (going back to 2007) reveals that trading volume associated with market declines has been generally high, while trading volume seen during rallies has been generally low; a bearish sign. Does Wednesday's 3.13% Rally Invalidate the Sell Signal? On Wednesday, the S&P rallied 32 points or 3.13%. The Dow rallied 2.82%, while the Nasdaq rallied 3.13%. Does this mean the bull market is back on track?Since the April market top, we've seen about a handful of 2-3% bounces. All associated gains were erased within a matter of days. Chances are this time will be the same. In fact, some sort of bounce was to be expected. On July 5, the ETF Profit Strategy Newsletter stated 'considering that the S&P is butting against the 100-week SMA, lower accelerations band, 38.2% Fibonacci retracement levels, round number resistance at 1,000, and weekly s1 at 994, there is a good chance we will see some sort of a bounce develop from the 990 - 1,015 area. Weekly r1 at 1,066 and pivot at 1,063 should serve as resistance.' This bounce is in its later stages right now. What's Next? Let's revisit the larger picture. Out of the nine leading industry sectors, seven have seen their 50-day SMA cross below the 200-day SMA - financials (NYSEArca: XLF - News), technology (NYSEArca: XLK - News), consumer staples (NYSEArca: XLP - News), materials (NYSEArca: XLB - News), utilities (NYSEArca: XLU - News), energy (NYSEArca: XLE - News) and healthcare (NYSEArca: XLV - News). The consumer discretionary (NYSEArca: XLY - News) and industrial sector (NYSEArca: XLI - News) are the only holdouts. All nine sectors, however, trade below their 200-day SMA. Fundamentals, sentiment readings and valuations also point south. Some of the fundamentals we have discussed in these pages are crafty accounting practices designed to hide huge losses racked up by big financial institutions not yet realized along with a continually bad unemployment picture. Sentiment surrounding the April highs recorded extremes not seen since the 2000, 2007, and even 1987 market top. There are multiple sentiment measures (such as the VIX, cash allocation, put/call ratio, percentage of bullish/bearish advisors, mutual fund cash levels, etc.). Each sentiment measure is one piece of the puzzle. The more pieces of the puzzle you have, the clearer the picture becomes. Leading up to the April highs, nearly all sentiment indicators peaked, painting a complete bearish picture. In summary, the bearish picture is confirmed by technical indicators, a fundamental outlook, sentiment gauges, and valuations. Based on what the market considered fair market valuations at prior historic market bottoms, one can conclude how far stocks have to drop to reach the previously attained level of fair valuations. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics with a track record of accuracy, along with the implied target range for an ultimate market bottom. This is provided in addition to its short, mid and long-term forecast. When the market speaks, it behooves investors to listen. Fighting the tape has often proven to be foolish, as the market will always have the final word.’

A Market Forecast That Says ‘Take Cover’ New York Times | We have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.

Commercial Real Estate Loans Extend and Pretend ‘…Courtesy of Thomson / Reuters Commercial Real Estate Loans – Extend and Pretend Community banks have commercial real estate loans where the borrower cannot make scheduled interest and principle payments. More than 50% of all FDIC-insured institutions have loan pipelines that are 80% to 100% funded. This is a measure of how banks are stuck with noncurrent assets, but they are not classified that way. Instead, community banks are giving borrowers more time to make their payments on the theory that it’s better to collect zero on some loans rather than owning the real estate that collateralizes those loans. This concept is dubbed “extend and pretend” hoping that the borrower will eventual pay the loan back. Banks in this practice are known as “Zombie Banks” as they can’t lend, can’t lure in new investors, and wait for the FDIC to knock on their doors on Friday afternoon. This strategy includes stretching out loan maturities and allowing below-market interest rates to slow the number of defaults and preserving the capital of banks that would be expended if property had to become “Other Real Estate Owned.” As a result “Loans 30 to 89 Days in Arrears” and “Noncurrent” loans are not growing as fast as they should be. The net result of these practices masks the true toxicity of the Commercial Real Estate market. It’s not just the small banks that are employing “extend and pretend” tactics. I read that the Bank of America (BAC) has extended a large real estate loan in Buckhead, Georgia the high-class area north of Atlanta. The loan finances the development of a high-end shopping and residential project in 2007 and now three years later the cranes are silent and the project is fenced in. The banking regulators are helping the banks by allowing the lenders several ways to restructure loans. While doing so the banks are allowed to keep these loans as “performing” even with collateral values below the loan amounts. Extend and pretend is also known as kicking the can down the road. It seems to me that we have wasted billions if not trillions in stimulus money and bank bailouts when this money could have been used to actually fund the completion of these projects. Such a plan would have cost tax payers much less and would have kept Americans working on Main Street USA, as finishing incompleted real estate projects are clearly “shovel ready” projects. According to Foresight Analytics banks hold $176 billion of CRE loans that could be declared toxic. This is the tip of the iceberg as the FDIC Quarterly Banking Profile shows $1.09 trillion in nonfarm nonresidential real estate loans and $418 billion in Construction & Development loans on the books of our nation’s banks. About two-thirds of the CRE loans are maturing between now and 2014, and are underwater. Commercial real estate property values are down 42% from the October 2007 peak. At the end of the first quarter 9.1% are delinquent up from 7% a year earlier. Bankers justify “extend and pretend” saying that it’s better than calling the loan and dumping more property on a depressed market. We need a stronger economy to entice new investors to resurrect projects and to find new demand for competed offices, hotels, condos etc which are the finished products of completed CRE projects. Without a strong economic recovery these loans will eventually have to be written off down the road. The problem is that while these loans are on hold banks can’t justify new loans, which would be the engine of economic growth. And the beat goes on. Disclosure: No positions’

Light Volume Temptations: Dave's Daily ‘Volume still matters, doesn't it? It seems not as the financial media ignores our light volume market in favor of writing bullish headlines. With hedge funds mostly sidelined according to reports posted here yesterday, the primary buyers must be trading desks on Wall Street and a handful of algo traders. It's tempting to come off the sidelines and join the fun but perhaps it's just the trap they're laying for you. A headline at Reuters read this afternoon: "Weaker Economic Views Equals Stronger 3-Year Note Sale". So, if equity markets are forward-looking one must wonder what these few buyers are seeing beyond a short-term trade. Headline writers say its strong earnings growth that will prop markets coupled with rosy outlooks. That would have to be the case otherwise this is just a sucker's rally. As stated, volume was holiday-like light (40% below average) making it really easy for the machines to take over trading, and so they did ... ‘

Academics, Politicians: Pending Global Treaty Threatens Free Internet, Fundamental Rights Steve Watson | ACTA: Flagship of the growing internet censorship armada.        Two Stories that Should Scare the Heck Out of You Greg Hunter | I was sitting here trying to find a way to wrap up the week and then, like a bolt of lightning, an idea hit me.Gold expert Jim Sinclair sent me this story: “Federal Budget Deficit Hits $1 Trillion For 1st 9 Months Of FY’10.” The story said, “The shortfall, reflecting $2.6 trillion in outlays for the first three quarters and $1.6 trillion in receipts, narrowed slightly compared with the same point in fiscal 2009.” So where did the “shortfall” come from? Try the more that 8 million who lost their jobs. The story went on to say, “. . . individual income and payroll tax receipts were down 4% over the nine-month period, suggesting that wages and salaries have not improved to the extent that corporate profits have.” Corporate profits have “improved” because they laid-off all those workers!! (Click here for the entire Dow Jones Newswires story) Sinclair says, “Nothing has changed. Nothing has been rescued. The can that is being kicked daily down the path is going to turn around and bite the kickers. Gold is the only insurance.” When things get bad enough, there will be more stimulus cash put into the economy and more bank bailouts. Sinclair is like legendary football quarterback Joe Montana–never bet against either of them.      Academics, Politicians: Pending Global Treaty Threatens Free Internet, Fundamental Rights Over 90 academics, practitioners and public interest organizations from six continents have collectively warned that a secretive global treaty, currently being negotiated by governments of the world’s largest economies would see tight controls placed on the internet and would threaten other fundamental rights and freedoms.

Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression Following Nobel Laureate Paul Krugman’s declaration last week that the U.S. is in entering a third period of great depression, more and more economists are following suit, comparing the scale of the crisis to that of the early 1930s.

Ahmadinejad brands US world’s dictator ahead of summit

David Icke onTV: Humanity’s Last Chance Infowars.com | Alex talks with writer, public speaker, and former well-known BBC television sports presenter David Icke.      As the United States Collapses, Media Worships LeBron James Infowars gives the inside scoop on basketball MVP LeBron James’ pivotal trade decision.       America Is In A Societal Meltdown Chuck Baldwin | America is in the midst of a complete and total spiritual, societal, cultural, moral, and political meltdown.       Obama Selects General Who Likes Killing Muslims to Centcom Kurt Nimmo | Gen. Mattis has the same habit of speaking his mind as McCrystal.

The Lights Are Going Out For Free Speech On The Internet Type the keywords “Internet censorship” into Google News and you will immediately understand to what degree the world wide web is under assault from attempts by governments globally to regulate and stifle free speech. From Australia to Belarus, from Turkey to Vietnam, from Pakistan to Egypt, from Afghanistan to Iran, huge chunks of the Internet are going dark as the Chinese model of Internet regulation is adopted worldwide. [Has everybody lost their minds? Referring to the china model as something to be emulated. It’s true they are more productive than america, generally, but their business model is almost prehistoric and the direct consequence of the great american sell-out for money (the ‘pass through’ or direct) by those who’ve pledged otherwise (walmart, congress, clinton, bush, wobama, etc.). Even some of their simplest products are junk (but priced incredibly low to make the relative value) and seem to have adopted that GM strategy of planned obsolescence, breakdown, etc., to spur sales. Then there’s the communist faux capitalism paradox, suppression, oppression, etc., which has even the defacto bankrupt, pervasively corrupt, fallen america blindly following. Quite simply, their ancient business model is slave labor. As for Iran, they are a relatively small nation under collective siege.]

US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas You already might have heard that it costs the United States $1 million for each solider per year in Afghanistan, to cover the cost of the soldiers’ benefits, troop transports and other materiel.     Billions of dollars secreted out of Kabul Spiegel Online | Billions of dollars are being secreted out of Kabul to help well-connected Afghans buy luxury villas in Dubai and then there are the american recipients who are a bit more careful with their stash.

`DRUDGEREPORT: PAPER: Optimism on hold; Recovery economy falters...`

`USA marks 3rd-largest, single-day debt increase...`
`Deficit hits $1 trillion in June for second year...`
`IMF presses US to cut debt...`
`NSA INTERNET GRAB; SPY AGENCY SHIFTS TO DOMESTIC EAVESDROPPING...`

`CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`
`RESET: Russia slams Clinton for 'groundless' comments...`
`Mortgage Delinquencies Rising Again as Home Prices Stay Flat...`
`Roubini: Banks Too Big to Fail, Too Big to Bail Out...`
`COOKED APPLE: 103...`
`UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`
`US v. AZ...`

The New Civil Wars Within the West Gregory R. Copley | Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America.     On Why America’s 234th Birthday May Not Have Many More To Follow Zero Hedge | It is my firm belief that we have come to the “end of the road” for the financial system.

Iran says planes denied fuel in Germany, UK, UAE Reuters | The claim could not be independently confirmed and was met abroad by skepticism. [Europe really fell fast. They make Christians look like the dumbest people in the world, along with the likes of ie., UAE if true (and defacto bankrupt america). After all, this ‘all for israel’ mantra is contraindicated inasmuch as the hebrews deny the very foundation of the Christian religion and indeed were behind his crucifixion].

`DRUDGEREPORT: Evans-Pritchard: It's Really Starting to Feel Like 1932 [Depression] ...`
`Dow Repeats Great Depression Pattern...`
`Investors fear risk of regional defaults...`
`Obama: 'The great jobs killer'...`
`Turkey, a leader of nations, wants war criminal israel apology, israel rejects demand ...`
`Threat 'to sever ties'...`

Dollar Plunges After UN Call To Ditch Greenback U.S. economy enters “total freefall” as double-dip recession looms.

China's Stocks Fall to 15-Month Low on Economy, Profit Outlook China's housing prices to fall, official says

Banks are Still at the Derivatives Casino (at Seeking Alpha)        [video] Washington's Bungled Bank Bailout (at TheStreet.com)        ECRI Weekly Leading Index Growth Lowest in 13 Months        Be on the Right Side of S&P Earnings Estimate Cuts

Inventory Cycle Has Run Its Course Harrison – ‘… This is the scenario I have been predicting for months now.

Double Dip Recession and the Obama 2011 Budget (February 2010): The long and short is that – come Summer – the inventory cycle’s thrust will have dissipated. And if companies are not hiring by this time and consumer spending is not increasing more robustly, then the state budgets, the strategic defaults and all of the rest of that becomes a serious obstacle. In my view, more likely than not, this will lead to another recession late in 2010 or in 2011. And nothing in the President’s budget changes this outlook.

The mindset will not change; a depressionary relapse may be coming (March 2010): the inventory cycle’s impact on GDP growth will attenuate. By the second half of 2010, inventories will not add considerably to GDP.

US GDP growth rate is unsustainable; recovery will fade (April 2010): The inventory cycle is already starting to fade. That means weak 1 or 2% growth at best by Q4 2010. Unless job growth picks up tremendously by the second half of the year, this recovery is in trouble.

David Rosenberg says the ISM leads jobs. And, the latest jobs numbers were weak.

I would be nonplused about the recent ISM data if it weren’t for the column highlighted in red. Notice how the momentum for everything is slowing. Not just the overall index, but new orders, production and employment …’

U.S. Economy “Is a Complete Disaster” Yahoo! Finance | The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come.      America is sinking under Obama’s towering debt I hope the White House is paying attention to the latest annual Congressional Budget Office Long-Term Budget Outlook, which offers a truly frightening picture of the scale of America’s national debt, with huge implications for the country’s future prosperity.       7.9 million jobs lost, many forever CNNMoney | The recession killed off 7.9 million jobs. It’s increasingly likely that many will never come back.

50 Random Facts That Make You Wonder What In The World Has Happened To America The Economic Collapse | For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die.      BP, Homeland Security, and Cops Work Together to Deny First Amendment Kurt Nimmo | BP, Homeland Security, the FBI’s Joint Terrorism Task Force, and local cops will now decide if it is acceptable for journalists to take photographs.      Will G20 Police Succeed In Covering Up Reports of Rape and Torture? Infowars.com | Can authorities be allowed to cover-up the Abu-Ghraib style incarceration methods Toronto police engaged in during the G20 summit this past weekend, where women were arrested and subsequently raped by male cops?       Emergency S.O.S.: America Falling to Foreign Bank Takeover – Fourth of July Alex Jones breaks down the takeover by offshore banking powers– newly empowered by Congress’ banking “reform,” expanded taxes worldwide, as well as accelerated moves towards ending the Dollar’s reserve status, including urging from a recent United Nations report.        More than one-quarter don’t know who US gained independence from Every Fourth of July, Americans gather to celebrate the country’s declaration of independence from … um, what country was that again?

`DRUDGEREPORT: TORN ON FOURTH OF JULY: OBAMA DIVIDES NATION...`
`Great Republic in parlous state -- politically, economically...`

`YEAR 9: Petraeus in Afghanistan warns of tough mission...`
`'We are in this to win' … Win what? The fact of america’s defacto bankruptcy and being there IS failure no matter what they ultimately call this debacle ...`
`Illinois Stops Paying Its Bills...`
`Facing 'outright disaster' amid budget crisis...`

Turn On, Tune In...Nah, Just Drop Out … Discouraged workers at a new cycle high And small wonder. The median unemployment duration went to a new all-time high (since the 1940s, anyway, when that series begins) and shows no signs of slowing its ascent … (Chart, source Bloomberg)…

`YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission? What plan?.What strategy? National bankruptcy?… Mission accomplished! ...`

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

`JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...`
`Rate dips as 652,000 give up search...`
`Depressing... [That’s why they’re called depressions (just kidding … but no laughing matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].`

Ron Paul: 114 Flip Flop on Audit The Fed Causing Bill to Fail 229 – 198 Ron Paul’s attempt to audit the Federal Reserve, which was previously co-sponsored by 320 members of the House (HR 1207), failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 122 co-sponsors of HR 1207, all Democrats, jumped ship and voted against the measure.     The Future of Audit the Fed Congressman Ron Paul discusses the latest in the efforts to get a full and complete audit of the Fed as well as the future of Fed transparency. Like Congressman Paul says, we’ve accomplished a lot of good with our movement, and there’s many reasons to be optimistic for the future.     Ditch the Buck! Dollar demise ‘a matter of months’ A report by the United Nations says the American dollar should be ditched as the main global reserve currency. It said that the global financial meltdown has exposed systematic weaknesses, one of which is the reliance on the greenback.      G-20 is Relying on China To Drive the World Economy … But China Isn’t Looking So Hot The G-20 is apparently relying on China to drive the world economy.

Middle class families face a triple whammy Edmund Conway | Falling pensions, cuts and the banking crisis will impoverish many families.**

GOP chairman: Afghan 'war of Obama's choosing' (AP) - Republican chairman Michael Steele drew criticism from within his own party Friday, including calls to resign, after saying the 9-year-old commitment of U.S. troops to Afghanistan was a mistaken ... [Steele is quite right and wobama and war facilitators deserve criticism; not Steele.]       Pelosi: Unemployment Checks Fastest Way to Create Jobs “It creates jobs faster than almost any other initiative you can name.” [pelosi’s so ‘in over her head’, burnt out, borderline senile, etc.]       Seventy million expired flu vaccines about to be incinerated as waste [government / corporate welfare / fraud] Forty million doses of H1N1 swine flu vaccine are about to go up in flames, and another 30 million will soon meet the same fate. They’ve expired, you see, and despite the CDC’s best efforts to push flu vaccines on the american people, the industry still couldn’t find a way to offload seventy million doses of a vaccine that doesn’t even work.

Israel Suspected in Bogus Claim Iran Developing Nuclear Trigger Kurt Nimmo | The bogus claim prompted a new round of support for more aggressive U.S. and European sanctions against Iran.      Ron Paul: Audit The Fed Bill Fails After Former Co-Sponsors Flip-Flop | Ron Paul’s attempt to audit the Federal Reserve failed, after more than 100 former co-sponsors of the bill jumped ship and voted against the measure.      Dollar Plunges After UN Call To Ditch Greenback | U.S. economy enters “total freefall”.

50 Random Facts That Make You Wonder What In The World Has Happened To America   - The Economic Collapse July 2, 2010 Our world is changing at a pace that is so staggering these days that it can be really hard to fully grasp the significance of what we are witnessing. Hopefully the collection of random facts below will help you to “connect the dots” just a little bit. On one level, the facts below may not seem related. However, what they all do have in common is that they show just how much the United States has fundamentally changed. Do you ever just sit back and wonder what in the world has happened to America? The truth is that the America that so many of us once loved so much has been shattered into a thousand pieces. The “land of the free and the home of the brave” has been transformed into a socialized Big Brother nanny state that is oozing with corruption and has accumulated the biggest mountain of debt in the history of the world. The greatest economic machine that the world has ever seen is falling apart before our very eyes, and even when our politicians actually try to do something right (which is quite rare) the end result is still a bunch of garbage. For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die.

The following are 50 random facts that show just how dramatically america has changed….

#50) A new report released by the United Nations is publicly calling for the establishment of a world currency and none of the major news networks are even covering it.
#49) Arnold Schwarzenegger has ordered California State Controller John Chiang to reduce state worker pay for July to the federal minimum allowed by law — $7.25 an hour for most state workers.
#48) A police officer in Oklahoma recently tasered an 86-year-old disabled grandma in her bed and stepped on her oxygen hose until she couldn’t breathe because they considered her to be a “threat”.
#47) In early 2009, U.S. net national savings as a percentage of GDP went negative for the first time since 1952, and it has continued its downward trend since then.
#46) Corexit 9500 is so incredibly toxic that the UK’s Marine Management Organization has completely banned it, so if there was a major oil spill in the North Sea, BP would not be able to use it. And yet BP has dumped over a million gallons of dispersants such as Corexit 9500 into the Gulf of Mexico.
#45) For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
#44) It has come out that one employee used a Federal Emergency Management Agency credit card to buy $4,318 in “Happy Birthday” gift cards. Two other FEMA officials charged the cost of 360 golf umbrellas ($9,000) to the taxpayers.
#43) Researchers at the State University of New York at Buffalo received $389,000 from the U.S. government to pay 100 residents of Buffalo $45 each to record how much malt liquor they drink and how much pot they smoke each day.
#42) The average duration of unemployment in the United States has risen to an all-time high.
#41) The bottom 40 percent of all income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
#40) In the U.S., the average federal worker now earns about twice as much as the average worker in the private sector.
#39) Back in 1950 each retiree’s Social Security benefit was paid for by 16 workers. Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers. By 2025 it is projected that there will be approximately two workers for each retiree.
#38) According to a U.S. Treasury Department report to Congress, the U.S. national debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015.
#37) The federal government actually has the gall to ask for online donations that will supposedly go towards paying off the national debt.
#36) The Cactus Bug Project at the University Of Florida was allocated $325,394 in economic stimulus funds to study the mating decisions of cactus bugs.
#35) A dinner cruise company in Chicago got nearly $1 million in economic stimulus funds to combat terrorism.
#34) It is being reported that a 6-year-old girl from Ohio is on the “no fly” list maintained by U.S. Homeland Security.
#33) During the first quarter of 2010, the total number of loans that are at least three months past due in the United States increased for the 16th consecutive quarter.
#32) According to a new report, Americans spend twice as much as residents of other developed countries on healthcare, but get lower quality and far less efficiency.
#31) Some experts are warning that the cost of bailing out Fannie Mae and Freddie Mac could reach as high as $1 trillion.
#30) The FDA has announced that the offspring of cloned animals could be in our food supply right now and that there is nothing that they can do about it.
#29) In May, sales of new homes in the United States dropped to the lowest level ever recorded.
#28) In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has ranged between 300 to 500 to one.
#27) Federal border officials recently said that Mexican drug cartels have not only set up shop on American soil, they are actually maintaining lookout bases in strategic locations in the hills of southern Arizona.
#26) The U.S. government has declared some parts of Arizona off limits to U.S. citizens because of the threat of violence from Mexican drug smugglers.
#25) According to the credit card repayment calculator, if you owe $6000 on a credit card with a 20 percent interest rate and only pay the minimum payment each time, it will take you 54 years to pay off that credit card. During those 54 years you will pay $26,168 in interest rate charges in addition to the $6000 in principal that you are required to pay back.
#24) According to prepared testimony by Goldman Sachs Chief Operating Officer Gary Cohn, Goldman Sachs shorted roughly $615 million of the collateralized debt obligations and residential mortgage-backed securities the firm underwrote since late 2006.
#23) The six biggest banks in the United States now possess assets equivalent to 60 percent of America’s gross national product.
#22) Four of the biggest U.S. banks (Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup) had a “perfect quarter” with zero days of trading losses during the first quarter of 2010.
#21) 1.41 million Americans filed for personal bankruptcy in 2009 – a 32 percent increase over 2008.
#20) BP has hired private security contractors to keep the American people away from oil cleanup sites and nobody seems to care.
#19) Barack Obama is calling for a “civilian expeditionary force” to be sent to Afghanistan and Iraq to help overburdened military troops build infrastructure.
#18) On June 18th, two Christians decided that they would peacefully pass out copies of the gospel of John on a public sidewalk outside a public Arab festival in Dearborn, Michigan and within 3 minutes 8 policemen surrounded them and placed them under arrest.
#17) It is being reported that sales of foreclosed homes in Florida made up nearly 40 percent of all home purchases in the first part of this year.
#16) During a recent interview with Larry King, former first lady Laura Bush revealed to the world that she is actually in favor of legalized gay marriage and a woman’s “right” to abortion.
#15) Scientists at Columbia University are warning that the dose of radiation from the new full body security scanners going into airports all over the United States could be up to 20 times higher than originally estimated.
#14) 43 percent of Americans have less than $10,000 saved for retirement.
#13) The FDIC’s deposit insurance fund now has negative 20.7 billion dollars in it, which represents a slight improvement from the end of 2009.
#12) The judge that BP is pushing for to hear an estimated 200 lawsuits on the Gulf of Mexico oil disaster gets tens of thousands of dollars a year in oil royalties and is paid travel expenses to industry conferences.
#11) In recent years the U.S. government has spent $2.6 million tax dollars to study the drinking habits of Chinese prostitutes and $400,000 tax dollars to pay researchers to cruise six bars in Buenos Aires, Argentina to find out why gay men engage in risky sexual behavior when drunk.
#10) U.S. officials say that more than three billion dollars in cash (much of it aid money paid for by U.S. taxpayers) has been stolen by corrupt officials in Afghanistan and flown out of Kabul International Airport in recent years.
#9) According to a report by the U.S. Department of Transportation’s Bureau of Transportation Statistics, the baggage check fees collected by U.S. airlines shot up 33% in the first quarter of 2010 to $769 million.
#8) Three California high school students are fighting for their right to show their American patriotism - even on a Mexican holiday - after they were forced to remove their American flag T-shirts on Cinco de Mayo.
#7) Right now, interest on the U.S. national debt and spending on entitlement programs like Social Security and Medicare are somewhere in the neighborhood of 10 to 15 percent of GDP. By 2080, they are projected to eat up approximately 50 percent of GDP.
#6) The total of all government, corporate and consumer debt in the United States is now about 360 percent of GDP.
#5) A 6-year-old girl was recently handcuffed and sent to a mental facility after throwing temper tantrums at her elementary school.
#4) In Florida, students have been arrested by police for things as simple as bringing a plastic butter knife to school, throwing an eraser, and drawing a picture of a gun.
#3) School officials in one town in Massachusetts are refusing to allow students to recite the Pledge of Allegiance.
#2) According to one new study, approximately 21 percent of children in the United States are living below the poverty line in 2010.
#1) Since 1973, more than 50 million babies have been murdered in abortion facilities across the United States.

Fed Made Taxpayers Unwitting Junk-Bond Buyers Bloomberg | So-called assets included collateralized debt obligations and mortgage-backed bonds.     Dollar Plunges After UN Call To Ditch Greenback The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).       National debt soars to highest level since WWII The federal debt will represent 62% of the nation’s economy by the end of this year.      Dollar should be replaced as international standard, U.N. report says CNN | The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said.       Double Dip Picking Up: Jobless Claims Spike To 472,000, On Expectations Of 455,000 Jobless claims were a disaster, coming in at 472k, on expectations of 455k. Prior was revised, surprise, surprise, higher to 459k from 457k. What is scariest is that between extended benefits and EUC, now that Congress has turned off the perpetual insurance spigot for the unemployed, dropped by -158,155 and -217,513.‘Jobless Recovery’ Myth as Banksters RAPE and ENSLAVE the Public! GET OFF YOUR KNEES! We’re told that this will be a ‘jobless recovery’ with further job losses expected before things get better. Well, if you believe that nonsense I’ve got a fantastic sundrenched beach on the growing ice packs of Antarctica to sell you. How on earth can there be anything called a jobless recovery? The simple answer is that there can’t!      Study: US media redefined torture after US started practicing it The US news media radically changed how it reported on the issue of waterboarding after it emerged that US forces had used the practice, says a new study from Harvard University.      The Toronto G20 Riot Fraud: Undercover Police engaged in Purposeful Provocation Toronto is right now in the midst of a massive government / media propaganda fraud. As events unfold, it is becoming increasingly clear that the ‘Black Bloc’ are undercover police operatives engaged in purposeful provocations to eclipse and invalidate legitimate G20 citizen protest by starting a riot. Government agents have been caught doing this before in Canada.

Obama Calls for Pentagon “Civilian Component” [Wow! Sounds like a plan … riiiiight!] Kurt Nimmo | Obama wants to send civilians to the occupation zones in Iraq and Afghanistan.

Drudgereport: `JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...`
`Rate dips as 652,000 give up search...`
`Depressing... [That’s why they’re called depressions (just kidding … but no laughing matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].`

`New jobless claims rise [again]...`
`'Surprise'...`
`Pending home sales plunge record 30%...`

`Weak economic data suggest 'recovery' fizzling...`
`Fears mount over slowing global demand...`

`UN committee calls for dumping US dollar...`

`YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission? What plan?.What strategy? National bankruptcy?… Mission accomplished! ...`

`Six Months to Go Until the Largest Tax Hikes in History...`

SIX MONTHS TO GO UNTIL
THE LARGEST TAX HIKES IN HISTORY

From Ryan Ellis on Thursday, July 1, 2010 4:15 PM

Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVN5aBH3

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.

The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

Second Wave: Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:

The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

The “Special Needs Kids Tax” This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.

The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include:

The AMT will ensnare over 28 million families, up from 4 million last year. According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.

Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.”

Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. The biggest is the loss of the “research and experimentation tax credit,” but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.

Tax Benefits for Education and Teaching Reduced. The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families.

Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual “required minimum distribution.” This ability will no longer be there.

Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVMwYIhK

Investors get more gloomy & bearish We just had a very difficult three month stretch for stocks. The S&P 500 fell 12% for the quarter as did NASDAQ. The Shanghai Composite, China’s largest stock index, fell 22.9 in its local currency, the yuan. The MSCI EAFE Index (foreign stocks) was down 14%. Given the negative news, it is not surprising that investors are becoming more bearish on stocks. This chart from Bespoke is based on the weekly Investors Intelligence survey, which is getting close to levels from a year ago. This is not close the peak we reached in early 2009, but the mood is definitely more negative now: [chart]

Double Dip on the Way There were many events contributing to yesterday’s sell-off, and the most likely culprits around the globe included more protests in Greece, continued to concerns about Europe at large, and a downward revision (due to a calculation error) of a leading economic indicator reading in China for the month of April. But when it comes down to it, our own economy has yet to stand on solid ground. While the recovery has continued to be shaky at best, recent economic readings may be pointing to a double dip recession. Yesterday’s batch of economic data seemed to be confirming that, as it brought a very dismal reading on consumer confidence. June’s number stood at 52.9, far below expectations of 62.5, and pointing to the consumers’ weariness about the job market, and economic recovery in general. To go further, the previous reading for May was revised downward, to 62.7 from 63.3. But the drop from May to June really sends the message home: we’re not out of the woods yet. Earlier in the week, we saw personal savings rates rise again, even while personal income growth was meager. Americans, despite bringing home a little more cash, continued to save more for the expected rainy days, and have yet to return to their spendthrift ways. After yesterday’s precipitous selling, one would expect to see a bit of a bounce in today’s trading session. That wasn’t the case, however, as more weak data continued to dampen economic hopes. Today’s culprit was the ADP private sector job report. The report stated that private payroll gains were muted in June, with only 13,000 jobs added – far less than the 60,000 expected by economists. While May’s reading was revised slightly upwards (to 57,000 hires from previously reported 55,000), today’s release does not bode well for the much anticipated report from the Bureau of Labor Statistics due out on Friday. The non-farms payroll survey includes government workers and has been inflated in recent months due to hiring for the 2010 Census … [chart] …The June report, however, will reflect many of those workers being laid off in the past month. In May, 431,000 jobs were added, but without support from temporary government hires, economists are predicting job losses in June. Last week, consensus estimates were for a loss of 70,000 jobs for the month. By yesterday, those estimates were downgraded further, to 110,000. With the help of today’s ADP report, expectations have continued to fall: economists now expect a reading of negative 125,000 …

Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice summary of what the future may hold in its "Up and Down Wall Street." It summarizes as well as anything I've read recently where we're likely headed. Bugging the (stock) market is the increasingly obvious disparity between what the Street's incorrigible cheerleaders see and prophesy and what's actually happening in the real world...The double dip in housing may or may not be a template of what's in store for the economy as a whole. But at the very least, it is a precursor of other serious disappointments destined to feed the unease among the jittery populace, which most emphatically includes investors.

It cites the predictions of SDK Captial's Dee Kessler:

--the massive fiscal and monetary stimulus so liberally applied in 2008-2009 is starting to run out of steam, with financial conditions tightening and leading economic indicators pointing to a stretch of "anemic activity."

--"structural headwinds," such as public and private deleveraging, higher taxes, greater regulation and trade tensions.

--the well-publicized woes of the European bloc, which accounts for 20% of the world's GDP, as further evidence that the global economy, as he puts it, is downshifting.

--The period of easy comparisons in corporate results, he says, is coming to a close,

--"Although the fundamentals in the U.S., Europe and Japan are worse," Dee spots plenty of downside in emerging markets and doesn't fancy the notion of decoupling.

--Come another financial crisis, "the only policy response left will be to print money." Which, of course, is what the gold bugs are counting on and why bullion has glistened so brightly.

That about sums up the outlook. The nice insight here is that anxiety over future economic malaise -- and the additional money printing that'll be done to mask it -- might be a bigger factor than current inflationary pressure behind the surge in gold prices.

In other words, for the deflation-believers: deflation today? Perhaps. But big-time inflation tomorrow.

Disclosure: No positions

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Stocks: Once More Up, Then the Big Down Smith -The ingredients for a classic head and shoulders topping pattern in the stock market are all present. That suggests one more rise and then a massive grinding move down to 2009 lows. Officially, of course, everything's peachy with the economy. Europe is fixed, China is booming, consumer confidence is rising, and we are encouraged to resume our borrow and spend ways as the economy will not "double-dip" into recession. The economy will not slide into another recession, we are reassured constantly, even though roughly 80% of Americans don't think we ever left the recessionary quicksand. Please see "Two Scoop Special": Double-Dip Recession Guaranteed (May 21, 2010) for more … Exactly what drivers are there for future gains in corporate profits? I can't think of any, short of Martians landing and going on a shopping spree with gold they manufacture in their spacecraft. On the negative side, we have:

1. The rising dollar is a huge headwind to sales in the eurozone and elsewhere.
2. The low-hanging fruit of pushing the workforce to produce more output for the same salary/wages have all been picked.
3. The inventory build-out is done for everything but the iPhone 4 and iPad.
4. So-called "fiscal austerity" (when did living within one's means become some sort of brutual "austerity"? Talk abour propaganda!) in the eurozone and U.S. states will remove tens of billions of dollars from corporate sales.
5. Global overcapacity is alive and well. There is overcapacity in everything manufactured except the iPhone 4, and that will be in glut by 2011 as well.
6. Uncle Sam is not distributing trillions of dollars quite as freely. There seems to be some glimmer of awareness that there could be consequences of squandering trillions of borrowed dollars on essentially worthless projects such as occupying Iraq, inflating the housing market by socializing the entire mortgage market, propping up Fannie Mae, Freddie Mac and FHA, etc.
7. Housing is rolling over now that the socialized mortgage market has been tentatively allowed to go off life-support (it is wheezing and turning blue in the face, not signs of vibrant health).
8. There is no pricing power anywhere once stimulus-goosed demand declines to organic demand (flat to down) …

Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no matter what the scenario posited, this time the territory’s uncharted, and the debacle / crisis like no other owing to the advent of computerization will have enabled an obfuscating tool of unprecedented proportion [worthless paper, huge frauds as already extant], and a two-edged sword in the most negative sense prospectively)

GREECE UNDER NEWS BLACKOUT: Here’s How An Eyewitness Describes Today’s Riots There are reports this morning of violent protests/riots in Greece, once again. Here’s how a source on the ground describes the situation.     Target Tehran? Israel, US ‘prepare to attack Iran’ Reports are circulating that the U.S is amassing a greater military presence in the Middle East. The alleged build up is also rumoured to involve the Israeli use of Saudi Arabian air space. It’s thought by some to be in preparation for an attack on Iran.     Kucinich: ‘We are losing our nation to lies about the necessity of war’ In Afghanistan, corruption is rife. It is so abundant, in fact, that a senior US lawmaker declared on Monday that she’d be freezing $3.9 billion in Afghan aid dollars until the situation is addressed.     Turkey bans Israeli military flight from its airspace as freeze deepens Turkey has banned an Israeli military flight from its airspace in apparent retaliation for Israel’s interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed.

Iran nuclear scientist Shahram Amiri 'flees US captors' BBC News - A man who says he is an Iranian nuclear scientist claims to have escaped after being abducted by US agents. In a video shown on Iranian state TV, he says he has escaped in the US state of Virginia and is now on the run.    Missing Iran scientist says he escaped US agents: report Reuters    Turkey Asks Iran to Return to Table Wall Street Journal

Momentum Book Update: The Market Is a Mess and the Long Bond Is About to Break Out … Not only do us swing traders have to fight the urge to chase price action up, but lay off the keyboard trying to catch falling knives in the relative strength stocks which are holding up. If you tried to buy support in your favorite names this week, you got your hands cut up. I’ll continue to rely on the understanding of my own emotions as they have served me well. When we opened higher on Monday morning I knew I was in the right place, cash, as the market was just way overbought. If you bought most relative strength names last week, by the end of this week you were well underwater. So where do we go from here? I’ve got no clue, the market is a mess, the charts are a mess, and the long bond is about to break out. If that happens all bets are off, we could see an “event”. If the smart money is lining up at the exits and moving into bonds, there’s a good chance they see something coming down the pipe …

SUITING UP FOR A POST-DOLLAR WORLD John Browne ‘The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie's choice between social unrest and bankruptcy. But with the "Club Med" economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Our argument has always been that the US benefits from its reserve-currency status, allowing it to accumulate unsustainable debts for an unusually long period without the immediate repercussions of inflation or higher borrowing costs. But this false sense of security may be setting us up for a truly monumental crash. There is fresh evidence that time is running out for the dollar-centric global monetary order. In fact, central banks outside the US are already making swift and discrete preparation for a post-dollar era.To begin, the People's Bank of China has just this week decided to permit a wider trading range between the yuan and the dollar. This is the first step toward ending the infernal yuan-dollar peg. While the impetus behind this abrupt change remains a mystery, I have a sneaking suspicion that, as my colleague Neeraj Chaudhary explained in his commentary last week, the nationwide labor strikes were a prime motivator. In response to the 2008 credit crunch, the Fed printed so many dollars that the People's Bank of China was forced to drive Chinese inflation into double digits to maintain the peg. The pain has fallen on China's workers, who have seen their wages stagnate while prices for everything from milk to apartments have skyrocketed. This week's move indicates that, regardless of its own policy motives, the Communist Party can no longer afford to keep pace with the dollar's devaluation. The result will be a shift in wealth from America to China, which may trigger a long-anticipated run on the dollar, while creating investment opportunities in China. Just days before China's announcement, Russian President Dmitry Medvedev rattled his monetary sabre by telling the press of his intention to lead the world toward a new monetary order based on a broad basket of currencies. Giving strength to his claim, the Central Bank of Russia announced that it would be adding Canadian and Australian dollars to its reserves for the first time. Analysts suggest that the IMF may follow suit. While Russia floats in the limbo between hopeless kleptocracy and emerging economy, it does possess vast natural resources and a toe-hold in both Europe and Asia. In other words, it will be a strategically important partner for China as it tries to cast off dollar hegemony. Speaking of Europe, the major powers there are moving toward a post-dollar world by rejecting President Obama's calls to jump on America's debt grenade. The prescriptions coming from Washington translate loosely to: our airship is on fire, so why don't you light a candle under yours so that we may crash and burn together. Given that dollar strength is largely seen as a function of euro weakness (as Andrew Schiff discussed in our most recent newsletter, debt troubles in the eurozone's fringe economies have created a distorted confidence in the greenback. However, as you might imagine, Europe has higher priorities than being America's fall guy. Led by an ever-bolder Germany, the European states are wisely choosing not to throw themselves on our funeral pyre, but to wisely clean house in anticipation of China's rise. In another ominous sign for the dollar, the Financial Times reported Wednesday that after two decades as net sellers of gold, foreign central banks have now become net buyers. What's more, more than half of central bank officials surveyed by UBS didn't think the dollar would be the world's reserve in 2035. Among the predicted replacements were Asian currencies and the euro, but - by far - the favorite was gold. This is supported by Monday's revelation by the Saudi central bank that it had covertly doubled its gold reserves, just about a year after China made a similar admission. There is no reason to assume these are isolated incidents, or that the covert trade of dollars for gold doesn't continue. To the contrary, this is compelling evidence that foreign governments are outwardly supporting the status quo while quietly preparing for the dollar's almost-inevitable devaluation. What people like Paul Krugman believe to be a return to medieval economics may, in fact, be the wave of the future. In peacetime, hardened troops will likely tolerate a blowhard general for an extended period; but when the artillery opens up with live ordnance, an ineffectual leader risks rapid demotion. The newspapers are now riddled with hints that foreign governments have lost faith in Washington and the dollar reserve system. It seems to me only natural that after a century of war, inflation, and socialism, the next hundred years would belong to those people who hold the timeless values of hard money and fiscal prudence. Unfortunately, our policymakers are not those people.’

China's Hu Jintao Says Group of 20 Must Coordinate to Consolidate Recovery Bloomberg … How about the G195 countries in the world collectively be considered in this task of coordination owing to the abject failure of the so-called G20 which have in lockstep coordination precipitated this global crisis including the war mongering, war criminal acts of the so-called nato allies et als, particularly the u.s., and as well the likes of war criminal nation israel which have never avoided a contra-indicated, anti-recovery war / conflict they could contrive / rationalize. The so-called G7, 8, 9, 20, etc., are a pathetic bunch of incompetent vegetables / jokers / showmen / clowns.

One of those … Daaaaah! Moments … Panetta says Afghan progress slower than expected Los Angeles Times - Days after President Obama installed a new US military commander in Afghanistan, CIA Director Leon E. Panetta conceded Sunday that progress in the war has been "harder" and "slower than I think ...     Panetta says Afghan insurgents show no real interest in reconciliation talks Washington Post     CIA Retains Controversial Security Firm in Afghanistan Wall Street Journal       `CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ...`

New York Times reporter calls Zionist terrorism ‘romantic’ A little-noticed comment in a New York Times interview with Israeli opposition leader Tzipi Livni has critics arguing that it shows the media has a “double standard” when it comes to terrorism.

States of Crisis for 46 Governments Facing Greek-Style Deficits Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate.       Evans-Pritchard Announces Fed Contemplating $5 Trillion QE Expansion In his latest column, the Daily Telegraph’s A. Evans-Pritchard does a good job of recapping all the various reasons why Bernanke has now completely cornered himself, and facing a newly collapsing economy, is left with just one recourse: the printing of more, more, more paper.        History Tells US The Euro Will Not Survive, Greece Will Get Worse, And There Will Be A Trade Shock With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that today’s entry would be all about the RMB and the effect of the PBoC announcement.

The following is really the quintessential question and issue, particularly in light of america’s defacto bankruptcy and international law; but paramount humanitarian concerns alone would militate against america’s current misguided course.   Is Petraeus McChrystal’s Replacement or Obama’s? Paul Craig Roberts | All of this drama is playing out despite the continuing lack of any valid reason for the american invasions of Iraq and Afghanistan.

Obama Can Shut Down Internet For 4 Months Under New Emergency Powers President Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was approved by a key Senate committee yesterday    Congressman Rohrabacher: Almost All House Republicans Think Iraq War Illegal, Immoral Andrew Napolitano’s new Saturday show on the Fox Business Network is set to send shock waves through the political establishment this weekend when his guest – Republican Congressman Dana Rohrabacher – reveals that almost all House Republicans now believe that the invasion of Iraq was not only a mistake, but also illegal and immoral.         New Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms The government would have broad new powers to seize and wind down large, failing financial firms and to oversee the $600 trillion derivatives market.       Israeli Leaders Sued in Belgium for War Crimes

U.N. confirms rise in violence in Afghanistan      Obama Can Shut Down Internet For 4 Months Under New Emergency Powers       Food & Depopulation: Scams and Solutions Cassandra Anderson | Beware of all NGOs and so-called “non-profit” organizations.      Congress Votes to Impose Embargo On Iran Infowars.com | Congress believes more punitive measures are required in order to punish the Islamic state.       G20: Activists Arrested, Denied Entry into Canada Kurt Nimmo | Charlie Veitch of The Love Police arrested, Luke Rudkowski and fellow activists denied entry in New York.

Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister Ehud Barak were among those charged with war crimes committed during the Gaza war in the winter of 2008-09, the French daily Le Monde reported.       Congress OKs sanctions on Iran’s energy, banks Congress on Thursday approved tough new unilateral sanctions aimed at squeezing Iran’s energy and banking sectors, which could also hurt companies from other countries doing business with Tehran.

Cybersecurity Measures Will Mandate Government “ID Tokens” To Use The Internet The move to shut down and regulate the Internet, the only source of uncensored news and truth, under a new government-controlled system has accelerated into high gear with the announcement that the government’s cybersecurity strategy revolves around issuing Internet users with ID “tokens” without which they will not be able to visit websites, the latest salvo against web freedom which, in combination with Senator Joe Lieberman’s ‘kill switch’ bill, will serve to eviscerate the free Internet as we know it.

Turkey, the World Leader of Nations, bans israeli military flight from its airspace as freeze deepens The Guardian -Turkey has banned an israeli military flight from its airspace in apparent retaliation for Israel's interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed. Turkey restricts israeli use of airspace CNN International Turkey bars israeli planes ABC Online    netanayahu rules out apology to Turkey over deadly raid (AFP)

G-8 ‘fully believes’ Israel will attack Iran, says Italy PM Haaretz | World leaders “believe absolutely” that Israel may decide to take military action against Iran.     Britain will not defeat Taliban and should open talks, says head of Army London Telegraph | Britain and its allies will not defeat the Taliban with military force and should soon open peace talks with insurgents in Afghanistan, the head of the Army said yesterday.

3 SIGNS OF A SUCKER RALLY Simon Maierhofer ‘ … AFTER EXAMINING TECHNICAL EVIDENCE, SENTIMENT INDICATORS AND VARIOUS VALUATION METRICS, IT BECOMES OBVIOUS THAT THE RECENT BOUNCE PROVIDES A SELLING, NOT BUYING OPPORTUNITY ...’

Russell: This Is One Of The Largest Tops In Stock Market History Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. Pragmatic Capitalism June 24, 2010 Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. He has maintained that the bear market never ended and that the world is far too indebted to exit the bear market. He also believes the bear will not end until all fiat currencies have failed. Although I disagree with him on many aspects of the micro I agree with his larger macro outlook. This bear market is not over. The secular bear market lives on. Mr. Russell thinks we might be on the verge of a terrible collapse:
   “We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse.
Question: “What could possibly be behind such a bear market?” you ask. “The stock market is stirring up optimism on a weekly, if not daily basis, by not falling apart.”
Answer: This is the “rest” or “dead zone” I was talking about. Bear markets don’t conclude in a day, a week or a month. Months will go by, often adding to the bulls’ optimism.I think the key element behind this great bear market will be the complete destruction of all fiat currencies. This has been a long time coming. Fiat currencies are “wealth” created by man. They are created without sacrifice, without labor, without risk, and without sweat. Basically they are an immoral device, created by secretive bankers. If you watch the figures carefully, you’ll note the subtle deterioration. For instance, the advance-decline ratio, although up slightly for the week, had a relatively weak performance with the Dow up several hundred points over the course of the week. And we broke the trendline in May (see the chart below showing the cumulative advance-decline line for NYSE Common Stock only, which is what we publish in our figures (courtesy of DecisionPoint — www.decisionpoint.com). The vertical lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on the chart. [CHART] My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’

Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz Sheva | The Israeli Air Force recently unloaded military equipment at a Saudi Arabia base, a semi-official Iranian news agency claimed Wednesday.      It’s time for the world to take a close look at the despotic, totalitarian regime that presently exists for the grandeur and wealth of a few while hiding behind Islam as they betray same and Muslims everywhere. The time has come for regime change in Saudi Arabia to yield a nation of and for the people of Saudi Arabia and the glory of Islam.

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental or just coincidental but consistent with that similarly experienced by critics of corrupt defacto bankrupt america of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.]

Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     Drudgereport: `States Take Aim at Pension Costs...`     `...Bank failure pace more than double last year    REPORT: Madoff tells cellmates of $9 billion stash... they all have them…` Cases against Wall Street lag despite Holder’s vows to target financial fraud         `THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny?`

China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April

When will the SEC prosecute for market rigging? Michael Schmidt | Are the large gold bullion banks working in collusion with the US Federal Reserve to artificially torpedo the key rival to US dollar hegemony?     China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Connecticut vegetable lieberman: China Can Shut Down The Internet, Why Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the zionist israeli lieberman, co-author of a bill that would give President Obama a ‘kill switch’ to shut down parts of the Internet, attempted to reassure CNN viewers yesterday that concerns about the government regulating free speech on the web were overblown, but he only stoked more alarm by citing China, a country that censors all online dissent against the state, as the model to which American should compare itself.

Mexican drug cartel threatens to harm U.S. police officers who bust drug shipments while off-duty New York Daily News | Mexican cartels added a new twist to the drug war this week by threatening to kill U.S. cops who seize their goods.     Former Israeli top spy calls for strike on Iran Israel should launch a pre-emptive strike to prevent arch-foe Iran from going nuclear, a former head of Israel’s Mossad intelligence agency said on Monday.      Israel’s Planned Attack on Iran from Caucasus Base A week ago, Israel leaked to the press that they had permission from Saudi Arabia to use their air space to attack Iran. The Saudi’s quickly denied this.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo** | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, fined and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8, WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling for the corrupt u.s. government as solicitor general, maybe he just wanted to go straight [Just Kidding!]. There is no immunity, judicial or otherwise for criminal acts. Moreover, there is no sovereign immunity for non-governmental acts as would include involvement in the illegal drug and related crimes, ie., bribery, etc., and the supreme court has so held against foreign nations in the context of the RICO statute but in my RICO case olson the liar would shill otherwise, not that he really had to worry in light of the pervasively corrupt and wastefully costly federal courts which should be abolished.

Roman Polanski freed after Swiss reject U.S. extradition request (Washington Post, July 13, 2010) Without diminishing in any way the seriousness of the crime, this result is the direct consequence of the growing global recognition of the pervasiveness of corruption in american courts, state and federal, and america generally; so much so, that said corrupt american courts cannot be relied on anywhere, anytime. Indeed, my own sampling, though hardly random to be candid, is 5 for 5 (new jersey, new york, connecticut, virginia, california) pervasively and egregiously corrupt to the point where these costly, corrupt bureaucracies should be abolished and supplanted with alternatives as I’ve previously set forth in these comments.

Sen. Levin urges State Department to put Afghan Taliban on list of terror groups (Washington Post) Oooooh! … Sounds like a plan … and emanating from washington (and a thriving Michigan jew no less) … who says they don’t do anything? … And, consistent with that apocalyptic vision set forth in the Bible [albeit a book of truth from a very limited perspective (for which literal interpretations are misleading); after all, the Wise Men thought it was a movable star that was guiding them and shone the bright ‘spotlight’ upon the manger with the Christ]; the jews and some other entity against the rest of the world for that final Armageddon … oh, they’ll make that happen … it gets them through their day with every step closer to apocalypse but not to the place called heaven will they go. The end of this world? You might say america / israel / and theirs are feverishly working on just that, one way or another!

There is really no way to rationalize or attempt to justify what america is / has become since they have with open eyes chosen this contra-indicated course of ineluctable decline, from illegal wars, to war crimes, to backing war criminal nations as israel, to huge frauds, to war profiteering, to illicit drug trafficking and money laundering, and this list goes on and on …:

(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a criminal who should have served / should be serving time in prison for obstruction of justice, bribery, among other RICO violations. To alito, drug money is as green as corporate money and worth his vote as well. In addition to being an inept [I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches)] and corrupt (see below and particularly the summary provided to the FBI under penalty of perjury [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s. attorney.

You’re naïve to think that the so-called supreme court is any different from the rest of the meaningfully lawless and pervasively corrupt american ‘system’. I knew well an accomplished trial lawyer, fellow american college of trial lawyers / and a bar examiner, who pondered from time to time becoming a judge “so he’d never have to work again” – his words.

Some comments on alito…all appropriate:

Probably the worst appointment in one hundred years.

Posted by: mnjam

-----------------------

Really? That's a pretty sweeping statement to make about someone who's only been on the court a short few years.

And I thought that liberals were in universal agreement that Clarence Thomas was the worst appointment in all of history?

Posted by: blert | January 28, 2010 2:11 AM | Report abuse
----------------------------
Yes. Really. Alito is a total lightweight and hack. He makes Thomas look like John Marshall or Oliver Wendell Holmes. I KNOW ALITO.
Posted by: mnjam | January 28, 2010 2:24 AM |

the loser here is alito.lost his composure not good for a judge especially afederal or supreme justice .loser big time this will live with guy for a very time.roberts and the other justices will have a talk with him that is a given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |

Should Alito resign or be impeached?
Posted by: jdmca | January 28, 2010 1:05 AM |

Manchurian Candidates: Supreme Court allows China and others unlimited spending in US elections Greg Palast | Our future elections may come down to a three-way battle between China, Saudi Arabia and Goldman Sachs.       Call For Immediate Arrest of 5 Supreme Court Justices for Treason Gordon Duff | The bloated corpse we are creating in Washington is emitting a stench we can no longer abide.     The aforesaid would be shocking to anyone without a modicum of knowledge of the reality of pervasive corruption within the u.s. courts themselves and america generally, including all three branches of the u.s. government.

Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul says the CIA has has in effect carried out a “coup” against the US government, and the intelligence agency needs to be “taken out.” I also personally believe there has been a defacto coup d’etat which has manifested in various substantial, blatant, brazened frauds, ie., wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc., without any fear of prosecution, and of course concomitant decline for u.s. as the treasury is looted. But I also believe its scope is beyond just the CIA with many complicit within the corrupted 3 branches of u.s. government (fed judges, us attorneys, illegal system, etc.) plus the military and private big money, ie., Goldman Sachs / wall street men, etc., among other organized crime. america is defacto bankrupt in every way!

Rendition: Where the War on Terror Meets the War on Drugs Patrick Henningsen | It’s time to ditch the policies we have come to tolerate for decades before they consume what is left of our moral core. I’ve experienced the corrupt inter-relationship of the government (all 3 corrupt branches) and the illegal drug trade / obstruction of justice / bribery first hand, particularly the courts / u.s. attorneys offices (ie., alito – now u.s. supreme court justice – quid pro quo for his complicity / cover-up), feds; see immediately after article excerpt for links / summary.

…“Evidence points to aircraft – familiarly known as “torture taxis” – used by the CIA to move captives seized in its kidnapping or “extraordinary rendition” operations through Gatwick and other airports in the EU being simultaneously used for drug distribution in the Western hemisphere. A Gulfstream II jet aircraft N9875A identified by the British Government and the European Parliament as being involved in this traffic crashed in Mexico…” In 2004, another torture taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican soldiers found ..132 bags containing 3.3 metric tons of cocaine. The origination of the Gulfstream’s flight is unknown but it was destined for Cancun when it crash landed. Again, here is the important point: that same Gulf Stream II was one of the very same planes chartered to the CIA for the rendition of suspected terrorists prisoners. Gulf Stream II crashed in Mexico with 3 tons of cocaine on board ..it should not be surprising that this illegal practice of rendition has in some part, been used as a well-run smokescreen for another borderless illegal operation- an extremely lucrative international transfer and delivery of cash and narcotics.,,These flights are not subject to regular customs checks, inspections or normal regulations as they move seamlessly between destinations in the US, Britain, Europe, Middle East, Central Asia, Cuba and possibly through US bases in Turkey, Greece and Morocco…

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3^rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.).

[ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation.

NSA beats warrantless wiretap rap A Federal judge has dismissed a complaint against the National Security Agency’s (NSA)

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and corrupt costly bureaucracies.

There must be such things as parallel universes (I don’t really believe that, because there isn’t) or how else do you explain the disconnect between reality, current and prospective, and the wet dreams posited to keep the war funding / corporate welfare programs alive in collectively what has already become a trillion dollar boondoggle (not counting prospective medical costs, etc.) and promises to go much higher. Even israel apologist Cohen of The Washington Post alludes to the Vietnam analogy. However, even if there were real goals beyond the poppy / heroin trade which the Taliban had all but eradicated (there isn’t); even if america wasn’t defacto bankrupt (america is); even if america wasn’t killing innocent civilians in large numbers (war criminal nation america is); even if america’s allies haven’t similarly helped to bankrupt themselves by way of this war (they have); even if I hadn’t told you so (I did) ….. this war still was, is, and remains a very bad idea!

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

How does anyone take the u.s. seriously in light of their credibility problems, war crimes, etc.? What nuke technology israel didn’t steal from the u.s., the u.s. gave them along with missile, armaments, etc.. and paid for with taxpayer money that u.s. taxpayers and the defacto bankrupt nation don’t have.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran.

I include the first two comments to the foregoing headline:

Billo Says:

June 11th, 2010 at 6:15 am

Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us?

Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place.

Glen Reply:

June 11th, 2010 at 6:47 am

Lunacy it would be.

But it is also to their great credit that the Iranians have not made their own threats.

Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane.

Watch out america home of the insane, home of the leaders who want an 80% population reduction.

General McChrystal’s Burning Contempt for the Puppet Obama The farce that is the war in Afghanistan is coming apart at the seams. General Stanley McChrystal’s sharp comments about Obama, Biden, and the administration published by Rolling Stone are not so much about disrespect, as the script-reading corporate media talking heads would have it, but rather about a policy in disarray in Afghanistan.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked overtime to make sure Vietnam POWs never came home. I think the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called "american heroe" john mccain was referred to by his fellow pows in Vietnam as something akin to the "songbird" inasmuch as he was constantly "singing" to his Viet-Cong captors to curry favor and better treatment? This has been documented with authority by Colonel David Hackworth. The same violates military code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up scenario, compromizing the false facade of far less than a heroe, is exactly what a criminal (lie of a) nation as america loves and encourages (get everyone's hands dirty so no-one dares to rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone asked how "wall street" has been "spared the spotlight" (and even was accorded protective legislation from their criminal culpability) and focus of inquiry, attention, and prosecution despite being the primary beneficiaries financial and otherwise of these scams (you know the wall street motto, "churn and earn"; huge conflicts of interest if not outright fraud)…’

Coalition wants UK space lift-off [ Don’t make me laugh! ]

Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to abandon its official policy of “ambiguity” on its possession of nuclear weapons as the international community meets at the United Nations in New York this week to consider banning such arsenals from the Middle East.

NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:

Launch of secret US space ship masks even more secret launch of new weapon

The Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”

`buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ...`

OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).

NASA's New Asteroid Mission Could Save the Planet Space.com - Tariq Malik - ‎CAPE CANAVERAL, Fla. - President Barack Obama set a lofty next goal this week for Americans in space: Visiting an asteroid by 2025. Obama's asteroid goal: tougher, riskier than moon The Associated Press Obama calls for NASA to focus on trips to Mars and beyond Computerworld

New Boondoggle promised to save NASA boondoggle defacto bankrupt budget piece of pie. `And don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.`

First fake moonwalker blasts Obama's space plan msnbc.com - Bill Ingalls - The first man to pretend to walk on the moon blasted President Barack Obama's decision to cancel NASA's back-to-the-moon program on Tuesday, saying that not going with the new movie is “devastating” to america's boondoggle spaced out effort. Fake dutch 'moon rock' revealed a treasured piece at the dutch national museum - a supposed moon rock from the first manned lunar landing - is nothing more than petrified wood, ...bbc news bbc news | europe | fake dutch 'moon rock' revealed prized moon rock a fake - a piece of moon rock given to an overseas politician by the united states is actually a lump of petrified wood, museum authorities revealed yesterday. ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, ...    http://www.albertpeia.com/moonfraud.htm

In reality it is just a piece of petrified wood ... Another piece of evidence that shows again that apollo program is indeed a fake and a typical american fraud!

http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv

Editorial: US in quagmire Seeing the warm welcome extended to the Afghan president on his US trip, it is hard to believe that only weeks ago Washington was seething with anger and frustration at Hamid Karzai’s behavior and there were even dark mutterings by US officials that he might be mad.

War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq.        Sinking of the Cheonan: A Classic False Flag Operation Russia Today | Sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home.     .      Israel: IDF Troops Who Murdered Unarmed Innocent People Are ‘Brave Heroes’ The government of israel, aided by many quarters of the international media, is attempting to spin today’s deadly IDF assault on a humanitarian aid ship carrying supplies to Gaza as the fault of the murdered activists on board the vessel, ludicrously characterizing machine-gun carrying Israeli troops who killed over a dozen innocent people as the victims of the incident.

Murder on the high seas JERUSALEM: Israeli marines stormed aid ships bound for Gaza on Monday and at least 10 rights activists were killed, triggering a diplomatic crisis and an emergency session of the UN Security Council. European nations, as well as the United Nations and Turkey, voiced shock and outrage at the bloody end to the international campaigners' bid to break Israel's blockade of the Gaza Strip

Israeli American Microbiologist Linked to Deadly Fungus Kurt Nimmo | A report links labs in the United States and Israel to the Cryptococcus gatti fungus that has killed several people in the United States.

Iraqi doctors demand cancer probe Al Jazeera | Iraqi doctors believe depleted uranium from US military equipment used in the 2003 invasion is spreading cancer through the population. [This is all too true and real; and I’m surprised this hasn’t gotten more attention, coverage … well, maybe not that surprised ].

"What this means is that Neanderthals are not totally extinct. In some of us, they live on," Paabo … With regard to that extinction thing, I’d say they’re still working on it (ultimately, decades, extinction, the distinction, without a difference). Actually, prior to studying the compelling subject of Biological Anthropology (Michael Park text), I too had some misconceptions about the group known as Neandertals (recent spelling drops the ‘h’) and actually mis-referenced same by the stereotypical image of members of said clade even as the debate continues as to whether they are within the species homo sapiens or a separate species. I believe these to be distinctions without important differences, so humble the origins and evolution of man truly are. Parenthetically, I wonder what that anthropological scientist Heidi Klum thinks on the subject.

Neanderthals, Humans Interbred, DNA Proves

Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm

`Previously I wrote:`

`FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:`

To Learn More About From Whence Man Came, This Link's For You

  [To the Professor at the beginning of the course]

   10-5-09 Postscript: Professor *****,
I felt compelled to thank you again for the add; not to curry your favor but indeed to express profound thanks inasmuch as this is probably the last formal course at a formal educational institution I'll ever take; and among the most important. While I had bought at discount a library-discarded 1993 Anthropology by Embers text, though meaning to read same never quite got to it. I am astounded by the substantial amount of time involved in the evolutionary process, not that I ever stopped to think about it, and one must come away with the sense of 'and all that...for this?'. This course should be required curriculum along with psychology, sociology, etc., but probably won't be owing to what is, as it should be, a very humbling educational experience for any member of the human race.
             Regards,
                                  Al Peia

[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.]

[Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Don’t Tread On Me: A Refresher Course on the Constitution

`BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT RISK ...  [`Judge sends Lohan to jail for probation violation (AP) – They got her! That globe-trotting danger / threat to society, the infamous public enemy Lindsey Lohan. Guess she couldn’t cough up that direct or indirect bribe. How pathetic these corrupt, kangaroo courts are! If only she was a drug dealer, armed robber, etc., she would have had the pre-paid connections to avoid this preposterous (known substantial criminals walk about freely, without fear) outcome. This, even as they are releasing substantial felons owing to budgetary considerations. `] ABOLISH THE CORRUPT, ECONOMICALLY WASTEFUL SO-CALLED SYSTEM, FROM MY DIRECT OBSERVATION AND EXPERIENCE .    (PREVIOUSLY ARCHIVED)`HOWEVER, THIS LATEST "CALIFORNIA/LA DISTRACTION" REQUIRES ELUCIDATION AS FOLLOWS:

·                Response to App. Div. OSC

·                STATE OF CALIFORNIA ethics complaint

·                Response to Sup.Ct. OSC

·                designation of record on appeal

·                The so-called "order" appealed from.
How embarrassing for the superior court of the state of california!

·                Typical corrupt banana republic america/california court

Dirty money digitally laundered … a wall street, atlantic city, and american story … a very bad one and [also see RICO case   http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf           http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]     Fraud: It’s Much Bigger Than Goldman Sachs       Regulatory reform debate obscures key fact: Everybody’s getting money bribes from Wall Street

Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare moment for one to say that a sleazy hypocrite like blago, who is on corrupt federale-connected mobster trump’s celebrity apprentice, happens to be correct based upon facts / reality and my own direct observation and experience and the law – Don’t forget to include corrupt federal judges as maryanne trump barry, sam alito, shiff, matz, hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken] (AP)   [Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Drudgereport: JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...
Rate dips as 652,000 give up search...
Depressing... [That’s why they’re called depressions (just kidding … but no laughing matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].
New jobless claims rise [again]...
'Surprise'...
Pending home sales plunge record 30%...
Weak economic data suggest 'recovery' fizzling...
Fears mount over slowing global demand...
UN committee calls for dumping US dollar...
Six Months to Go Until the Largest Tax Hikes in History...
`KRUGMAN: 'We are now, I fear, in the early stages of a third depression'...`
`STOCKS HIT LOWEST OF YEAR...`
`DEBT SOARS TO HIGHEST LEVEL SINCE WWII...`
`PRIVATE SECTOR SEES WEAKER JUNE JOBS...`
`Sputtering...`
`Dow Loses 10% in Q2...`
`Fed Officials Express Caution on Outlook, Avoid Talk of Further Stimulus...`
`NEW CLASHES IN ATHENS...`
`Greeks Walk Off Job...`
`NEARLY 2,000 PAGES: The legislation would redraw how money flows through economy...`
`Bank stocks soar … see new old opportunities for new old frauds ...`
`buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with Dipalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ...`
`WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook...`
`SCARY OBAMA: 'VERY DIFFICULT CHOICES AHEAD' ON DEFICITS`
`CHICAGOLAND BOMBSHELL: Obama knew plot to trade Cabinet post for appointing Jarrett to Senate -- Testimony...`
`RAHM DELIVERED THE LIST...`
`BLAGO TAPE: Get Obama to fundraise from Buffett, Gates...`
`Greece puts its islands up for sale in futile attempt to save economy...`
`DEUTSCHE BANK says US financial conditions are worse...`
`New home sales plunge 33%...`
`Record low...`
`CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ...`
`GEN. PRAYFORUS`
`JUNE: DEADLIEST MONTH...`
`Obama's choice suggests longer troop presence...`
`Obama doubles down on war...`
`New General, Old Strategy...`
`President's real problem: War plan in trouble...`
`WIRES: Gen.'s remarks echo troubled strategy...`
`'Doubt among soldiers that counterinsurgency will work'...`
`REPORT: Traded Favors with Blago...`
`Sticker Shock Among Dems Jeopardizing Obama's Agenda...`
`CHINA TO OVERTAKE USA IN MANUFACTURING...`
`Canada's economy suddenly the envy of world...`
`Germany Rejects Obama's Call on Growth, Stoking G-20 Conflict...`
`States Take Aim at Pension Costs...`
`...Bank failure pace more than double last year`
`REPORT: Madoff tells cellmates of $9 billion stash... they all have them …`Cases against Wall Street lag despite Holder’s vows to target financial fraud
`FANNIE AND FREDDIE tab 146B and rising; Foreclosed on home every 90 seconds... THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny? DEBT RISE TO $19,600,000,000,000.00 BY 2015 GALLUP: NEW LOW FOR O, SLIPS TO 44%... POLL: Voter support for Congress at all-time low... GALLUP: Obama's Weekly Job Approval Rating Skid...`
`RASMUSSEN POLL...`
`Obama Approval Falls to New Low: 42%`
`Obama Approval Index: -20`
`Strongly Approve 24%`
`Strongly Disapprove 44%`
`Total Approval 42%`
`UN rebukes of Israel permitted in US policy shift...`
`DEBT POISED TO OVERTAKE GDP WH PRESS QUEEN: JEWS GET OUT OF ISRAEL, GO BACK TO POLAND … UPON REFLECTION, A GOOD IDEA … AFTER ALL, THE ENGLISH BALFOUR DECLARATION WAS A PRO-COMMUNIST CONCESSION, A BAD IDEA, AND THE CREATION OF ISRAEL U.S. DOD CHIEF JAMES FORRESTAL OPPOSED IN 1948 AS AN AMERICA KILLER! 'Three Cheers for Helen Thomas'...`
`Census Worker Claims Job Numbers Being Inflated...`
`Bilderberg 2010: Between the sword and the wall...`
`Protesters 'being detained, searched, questioned'...`
`Final List of Participants...`
Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous … might not like us… Oh pshaw! … Human nature, man’s inhumanity to man? … Such humble beginnings and evolutionary history … What’s not to like? … Besides, not to worry. With their advanced technologies that defy human understanding, the aliens already know you’re here … to stay. So, not to worry. After all, as we know from that documentary of that same name, ‘Earth Girls Are Easy’ … and then there’s photosynthesis on earth in a very big way also going for it! ...
Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen; at best, decades.

9-23-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Buffett: We're Still in a Recession [ Wow! A moment of lucidity from Buffet which belies his prior ‘rosy wall street shill talk’, but his greater candor is welcomed nonetheless although the ‘d’ (for depression) word is more appropriate and accurate.] Roche ‘Warren Buffett disagrees with the NBER. He says we’re still in a recession and likely to remain in a recession for quite a while. These comments are far more tempered than the ones that were published last week. Of course, my favorite part in this clip is where he says the U.S. government did the right thing in responding to the crisis. They certainly did the right thing for Berkshire Hathaway (BRK.A) shareholders. Whether or not they did the right thing for America is a whole other story…’ [ And, of course we now know that it wasn’t the right thing for america … The question inevitably becomes, ‘Who’s manipulating who, what, and why? After all, we know defacto bankrupt america’s pervasively corrupt! ]

Look Out Below! Harding ‘…And at a time when last week’s weekly AAII investor sentiment poll showed 50.9% bullish? That’s the highest level of bullishness and complacency since it reached 54.6% bullish in October, 2007 near the October, 2007 top of the 2003-2007 bull market. The other higher reading was 53.3% bullish on May 1, 2008, as the market ended a bear market rally and plunged into its unfavorable season leg down of 2008. Other readings not quite as high, but at interesting times: The poll reached 49.2% bullish just prior to the Jan/Feb correction this year, and 48.5% bullish at the April top this year …’

Thursday Market Outlook: Listening to Herbert Hoover   Instratrader Indicators:

‘Red Flag: We Expect Lower Prices Ahead
Daily Technical Sentiment Indicators: Optimistic (Bearish)
Short Term Market Condition: Overbought (short term bearish)
Short Term Trend: Up
Medium Term Trend: Down
Long Term Trend: Down

So far, this week’s news and market action looks decidedly deflationary and even depression-like and so I went back in time to see what President Herbert Hoover, often blamed for the Great Depression, had to say about his times and to see what we might be able to learn from him about the times we live in.

Some of his most prescient and applicable quotes were:

“Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.” (Certainly an issue today and our money center banks should pay heed)

“It is just as important that business keep out of government as that government keep out of business.” (No doubt about it. Every policy maker in America needs to understand this.)

I’m the only person of distinction who has ever had a depression named for him.” (President Obama might be the second.)

“Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body – the producers and consumers themselves.”

(Dr. Bernanke and his colleagues really need to “get” this one, and judging from what I’m reading this week, I’m not sure they do.)

And, finally, old Herb had a morbid sense of humor when he said, “Blessed are the young for they shall inherit the national debt.” (Unfortunately still too true today.)

So apparently as the old saying goes: “The more things change, the more they stay the same.”

This week so far has been more than a little spooky and reminiscent of Herbert Hoover’s times as we listened to Dr. Bernanke and the FOMC warn of deflation and further quantitative easing and then read today’s housing report which indicated that home prices declined in July by -0.5%.

The FOMC said that “the pace of recovery in output and employment has slowed in recent months…and that “employers remain reluctant to add to payrolls. Housing starts are at a depressed level. Bank lending has continued to contract, but at a reduced rate in recent months.”

“Measures of underlying inflation are currently at levels somewhat below those the Committee judges most consistent, over the longer run, with its mandate to promote maximum employment and price stability…..the Committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support economic recovery and to return inflation, over time, to levels consistent with its mandate.”

So in a nutshell, deflation is a major concern, the $1.5 Trillion the Fed has thrown on this fire has failed to work and now they stand ready to throw more money at this problem in hopes of keeping our economic ship from sinking.

It’s clear what the market thinks of all of this as Treasury bonds continue to rally and gold heads for the stratosphere. Equities cheered Dr. Bernanke’s comments at first but then, realizing that deflation is a bad thing, settled back down to well below the top of the recent range.

One only needs to look at history to see that government efforts have little impact on ending depressions and deflation. The Great Depression didn’t end until the onset of World War II and Japan is a prime example of the ongoing failure of quantitative easing policies as they enter their second “lost decade.”

Today comes the jobs report, home sales and leading economic indicators and we’ll see if any light shines from this most recent data.

Technically, markets remain overbought and due for a correction and so from a fundamental, technical and seasonal perspective, we are in treacherous waters for sure.

We need to learn from Herbert Hoover’s words and experience or fall victim to George Santayana’s famous warning, “Those who do not remember the past are condemned to repeat it.”

Wall Street Sector Selector remains positioned to the “short” side of the market, expecting choppy to lower prices ahead.

Disclosure: SH, EFZ, SEF, SPY put option’

Am I Too Bearish? [ In a word, No! ] Cullen Roche ‘1) Am I too bearish? Some commenters have noted that I seem a bit too bearish all the time. Some have even gone so far as to imply that I am a permabear. These are fair comments, but require some clarification. The other day I mentioned my top down approach to the markets. Most of what I write about here at Pragmatic Capitalism is a macro view. Therefore, you get a heavy dose of macro with a dollop of micro. I am of the belief that we are in a secular bear and a balance sheet recession. Therefore, you get a pretty heavy dose of bearish arguments thrown at you. Nonetheless, I try to balance the site out with some of the more reasonable bullish arguments. What I am not, however, is a permabear. Within this macro outlook I have been bullish at many of the most opportune moments in the last few years. Most notable was my bottom call on March 8th when everyone in the universe was negative and I said the government was about to engage in an unprecedented market intervention that would be bullish for stocks. More recently on September 1st I was asked specifically if I was shorting the market. My response:

Ideally I would, however, I think it’s dangerous to build shorts right now. If the market is about to collapse then it’s about the most widely known collapse ever. Markets don’t tank when everyone is this bearish unless there is some sort of extreme event (which isn’t occurring currently). I think the April period when I was very negative (and short) is a great example.

I have actually been looking for a spot to get long even though my macro outlook is negative (which it has been for several years).

Now, in fairness, I did not buy for my macro equity strategy so don’t take this as some form of revisionist history where I am patting myself on the back for a trade that never occurred. On September 2nd I got what I later referred to as a “soft buy signal” as opposed to a conviction buy signal (more on this below). In hindsight it’s easy to say that I should have had more conviction in the signal and simply bought stocks, but that’s not my modus operandi. As I have previously explained, I have rules within my micro outlook that guide my various strategies and approaches. I trade the indicators (in this case a proprietary algorithm) and not the market. My rules tell me when to buy, sell and short. If my strict rules are not met I do not act.I have often referred to myself as a lion in the grass. The lion is not greedy. She does not just run wildly across the plains chasing antelope (thinking of day traders here). Instead, she devises a plan and lies in wait as the plan unfolds to her liking. If the environment is not right she does not act. There is too much at stake for her to make mistakes and risk losing a meal that might feed an entire pride for weeks or months. My mentality is no different. I am not frantically trading therefore you get a small dose of my trading perspective. Instead, I am measuring the risk environment day by day waiting for the antelope to step just close enough so I can react in a way that gives me very good odds of being right, fat and well fed for many months.

2) Quantifying the disequilibrium. As I previously mentioned, I use several strategies. One of these is global macro, however, it has never been my strong suit. It never has been, but it is an approach I have grown increasingly confident about in recent years (a little luck in a tough market environment apparently results in a bit of hubris). Within this strategy I have an equity component. I use dozens of different indicators that measure the markets on a daily basis. These indicators are best summed in an indicator I call quantified disequilibrium. It is a short-term indicator that measures whether the market is excessively risky or not. It combines fundamental analysis with behavioral finance in an attempt to measure the disequilibrium in the market. Since its inception in 2008 it has resulted in 74% total returns vs -22% for the S&P 500. Trade win rate is 84%. I have not calculated risk adjusted returns for the index, but I am certain that they are impressive. Some of its more notable calls include shorting the market crash of 2008, shorting the flash crash of 2009 and buying in early March 2009. After issuing a soft buy signal on September 2nd the index is now flashing the warning signal (but not a short signal). This does not mean the market is necessarily about to decline, but merely means that the risk/reward profile has deteriorated substantially in recent weeks. (chart)

3) Revisiting Swedish models. Some people in this country have a big problem with Swedish models. I certainly don’t. Throughout much of 2008 I mentioned that there were two historical approaches to tackling a debt crisis – the Japan model and the Swedish model. The results were dramatically different. In essence, the Swedes took their medicine. They bit the bullet, forced the banks to take losses and helped stem a panic from occurring. The Japan outcome, as we all know, has not been quite so successful. They allowed zombie banks to earn their way out of the crisis and largely avoided taking their medicine. On the consumer front the U.S. has implemented similar strategies. In general cash for clunkers, homebuyers tax credits, bank bailouts, etc have all been attempts to paper over he debt problem. It clearly hasn’t worked. We have attempted to create capitalism without losers. There is no such thing. In September of 2008 I wrote a letter to the Federal Reserve. It said:

I am writing this letter with regards to the current banking crisis. As you likely know there is precedent for the issues we are currently facing. Not only did Japan enter a similar deflationary period in 1991, but Scandinavia entered an even more similar period around the same time. I have attached the contact info and a paper with a descriptive response to the issue by Arne Berggren. I hope you will forward this message to the appropriate sources as it contains brilliant insight into a situation that is very similar to our current predicament. And please thank the board for their hard work during these trying times. http://www.fdic.gov/bank/historical/managing/sym1-09.pdf

I wonder how different the world would be today if we had allowed more banks to be nationalized (or failed) while focusing our time and energy on the real crux of this crisis – Main Street. Instead, we listened to men who were either misguided and/or had a vested interest in saving the banks (Buffett, Paulson, Geithner, Bernanke, etc). It would be humorous if it hadn’t hurt so many millions of people. My guess is the long-term outlook for the U.S. economy would be far better than it is today if we had not repeated the mistakes of the past.’

Thursday: Bubble, Bubble, Toil and Trouble [ As is obvious, things are getting quite dicey on fraudulent wall street and there’s a typical plethora of insanity in the air (of wall street).] ‘

"I’m forever blowing bubbles,
Pretty bubbles in the air,
They fly so high, nearly reach the sky,
Then like my dreams they fade and die.
Fortune’s always hiding,
I’ve looked everywhere,
I’m forever blowing bubbles,
Pretty bubbles in the air."

Gold, Treasuries, Junk Bonds, Netflix (NFLX) (we shorted them yesterday), Priceline (PCLN) (we shorted them Monday), Credit Default Swaps - take your pick of what is going to be the next bubble to burst.

We shorted TLT again yesterday ($105) as I sure wouldn’t lend the US money at those rates and neither, it seems, will the "smart money" guys anymore. The cost to hedge against losses on U.S. government debt rose to the most in six weeks as investors bet the Federal Reserve will put more cash into the economy. Credit-default swaps on U.S. Treasuries climbed 1.7 basis points, the biggest increase in more than three weeks, to 49.4, according to data provider CMA. The Fed said Tuesday that slowing inflation and sluggish growth may require further action. The statement positioned the central bank to expand its near-record $2.3 trillion balance sheet as soon as their November meeting - just in time for a Santa Clause boost for the markets.

So why does this not make us bullish? Well, as I said to Members on Tuesday, it was an anticipated statement with no immediate action and we’re at the top of a 10% run for September so, as I said in yesterday’s post, we anticipate a pullback of 2%, back to our 4% line (see post). Also in yesterday’s post, I mentioned our IWM 9/30 $67 puts ($1.10) and the DIA Oct $105 puts (.89) both of which were good for a reload on yesterday’s silly spike, where I said to Members in the 9:56 Alert:

I like the same IWM and DIA puts as yesterday as we test 10,800 on the Dow - I don’t think it’s going to last. Tomorrow we lose the usual 450,000 jobs for the week and we have Existing Home Sales at 10, which can now disappoint as Building Permits were a big upside surprise yesterday. We also get Leading Economic Indicators at 10 but they are expected up just 0.1% and I doubt they go negative. Friday we have Durable Goods, which should be down 2% and New Home Sales at 10, also now set up to disappoint even the very low 291,000 expected. So caution, caution, caution PLEASE!

I had already mentioned in the morning post that "bear is the word" and this is where the free readers tend to get confused because I was all bullish for the beginning of the month but, as I say often enough and as our Members know very well - I am not bullish, I am RANGEISH - which is a very different thing. 10,700 is the top of our range and with the Russell failing to confirm our 5% line at 666 (they hit it but didn’t hold it) kept us cautious and then we turn to the news flow to see if we’re going to have the gas to get past our major resistance lines and, so far, no - we do not.

Right in yesterday’s morning post I said: "The weak dollar will mask a weak market this morning and that will support commodities and the commodity pushers in early trading but watch that dollar, which will likely get bought up by the BOJ at some point and that will send oil and copper down and those strong sectors will pull back and likely lead us back down to test our 4% levels at Dow 10,608, S&P 1,112, Nas 2,288, NYSE 7,072 and Russell 660." Just to be clear, I don’t MAKE the markets do these things - I can only tell you what the market is going to do and how to make money trading it but I’m not the guy with his hand on the switch, so don’t blame me. We flip-flop when we have to because the market changes every day and whether you are a bull or a bear, you are likely to be wrong soon.

Speaking of being wrong, that’s what we were about gold at the beginning of the week when we looked at GLL for a short position at $1,280. We are scaling in, of course but, as I said about gold in yesterday’s chat:

"It’s a bubble. The same statements they are making now were made about housing and oil and tulips. Just keep in mind that that doesn’t stop gold from going to $3,000, just like oil went to $147, up 47% in the last Quarter before it crashed and it ended up all the way at $35 yet "that time is was different" and 1,000 experts told me I was wrong for all of ‘07 and ‘08 and, for 75% of that time - THEY WERE RIGHT!"

Even as gold flies up to $1,299 and copper tags $3.594 in overnight trading, commodities under management dropped 2.3% last month from a record $300Bn to $293Bn. This was the first pullback since January as investors withdrew $5Bn from commodity index swaps - the first monthly decline in 5 years! “There was concern about the U.S. and concern about China that spooked the market,” according to Barclays Capital.

There’s even some in-fighting within the Gang of 12 as Morgan Stanley says investors should buy the lowest-rated corporate debt, while Goldman Sachs says stay away. Bonds graded CCC in the U.S. are the “cheapest” high- yield securities with “economic data once again beginning to surprise to the upside,” Morgan Stanley told clients yesterday in a report. Goldman Sachs says higher-rated speculative-grade debt is the way to go as the economy decelerates.

And what should we do when mommy and daddy are fighting like this? Cash out and go stay at a friend’s house is my advice. The September move may not be over but it sure does look fake at this point and making 10% in a month is plenty for most people’s year so I’m leaning towards quitting while we’re ahead and getting prepared to flip aggressively bearish if our 4% levels don’t hold.

Of course, this is just the follow-through of the pattern we expected post-Fed (see charts in Tuesday’s chat) so we’re just going to enjoy the ride down and we reserve the right to get bullish again (and this does not affect our long-term, hedged trades, just our directional short-term bets) - pending earnings reports, of course.

As we expected, jobs are a bust with weekly unemployment up 12K to 465,000, that’s dipping the US futures about 1% and we still have Existing Home Sales and Leading Economic Indicators at 10, which were already reasons we took bearish positions yesterday. The key is going to be what kind of volume we get on the way down and what levels hold up to give us a clue of whether we are still at the top of our 10,200, 1,070 range or whether we indeed can call our former mid-range new floor. Oil broke yesterday, as we expected (very nice for the OIH puts) and today’s natural gas report at 10:30 is not likely to cheer them up and $73.50 would be a shame to fail. We’ve been tracking the barrel counts over at the NYMEX in member chat and there is still quite a stockpile that needs to be worked off - another bearish factor that’s kept us on our toes as we approached our upside goals.

Asia was mixed this morning but mostly closed for holidays with the BSE posting yet another decline. We looked at some BRIC shorts yesterday, including India but I favored BGZ (ultra-short emerging markets) to shorting IFN (India ETF), which gives fantastic bang for the bearish buck.

The shine is coming off India as they’ve butchered their chance to impress people by hosting the 54-nation Commonwealth Games, with some countries threatening to pull out just weeks before training begins. Work for the Games has been plagued by construction delays, allegations of corruption and friction between officials of the Games Federation and the local organizing committee. A heavier-than-usual monsoon season made finishing the work harder. Some completed venues sprouted bad leaks.

Ireland’s GDP also sprang a bad leak in Q2 as an unexpected 1.2% decline casts serious doubts on the country’s ability to cut the deficit by 3%, feeding concerns over Dublin’s ability to repay it’s debts without outside help. Although "economists" called it wrong, the report is pretty much in-line with the IMF’s expectations, which were far more bearish so not a huge event but worth watching as a sentiment changer, nonetheless. Private sector growth dropped 5% throughout the Euro-zone to 53.8, down from 56.2 in August. Above 50 is still growing but, like Ireland’s GDP, these little set-backs can add up to a change in investor sentiment very quickly.

An appreciation of 20 percent in China’s currency would cause widespread bankruptcies in China’s export sector, where firms operate on thin margins, Chinese Premier Wen Jiabao said on Wednesday. "The conditions for a major appreciation of the renminbi do not exist," Wen said in a speech to U.S. businessmen in New York. He said the appreciation of China’s currency demanded by U.S. lawmakers would not bring jobs back to the United States because U.S. firms no longer make such labor-intensive products.

The Premier is in New York to get his ass kissed by Obama while we pretend to get tough on Chinese currency. As I mentioned last week, China has stopped bying US Treasuries and, for the moment, Japan is filling the gap - but how long will that last as Japan is pressured to apply more stimulus at home?

We’ll be on our toes as we test each of our levels on the way down. Hopefully those 4% lines will hold, which would be impressive with all this negative noise. Durable Goods is ahead of the bell tomorrow morning and it’s very unlikely that report is good and we also get record-low New Home Sales at 10 so there’s nothing to be bullish about into tomorrow’s open and next week we see our own GDP along with Case-Shiller, Consumer Confidence, Personal Income & Spending, ISM and Auto Sales so busy, busy into earnings.

Disclosure: None’

A Warning for the Bulls Cam Hui ‘As NBER has declared the recession over and with the SPX decisively rallied through technical resistance at 1130, traders should be tilting towards the bullish side, right?Not necessarily. Barry Ritholz posted on the 10 things that make him nervous about the market. I generally agree with Barry's assesssments and I would like to add a few more of my own. While I don't have ten items, here is what is bothering me about stocks at the current levels.

Technicals pointing to economic deterioration
Analyzing relative charts, sectors/industries relative to the market, can tell you a lot about what the consensus is thinking. Here is the relative chart of the Morgan Stanley Cyclicals Index: (chart)The chart looks like an inverted saucer to me - which is bearish. The cyclicals deteriorated through a relative uptrend in May and are now in a relative downtrend. This is not the picture of a robust economic recovery.What's more, when I look at housing, as proxied by XHB against the market, it isn't signalling a rip roaring recovery either. (chart)As well, the Banking Index looks terrible against the market. This picture looks a lot like the relative chart of the cyclicals - a relative downtrend within an inverted saucer top formation. Without leadership from the Financials, can a new upleg be launched?(chart)For the followers of my Inflation-Deflation Timer mode, I refer to my latest comment indicating that I am getting very mixed signals. The model has moved to a technical "inflation" signal. I would tend to discount that signal and remain in "neutral" because of the anomolous condition of strong commodity prices and falling bond yields.

Watch out for the double-tip talk
John Hussman has been writing in the last several weeks about impending deterioration in economic indicators [emphasis added]:

As I've emphasized in recent weeks, the U.S. economy is still in a normal "lag window" between deterioration in leading measures of economic activity and (probable) deterioration in coincident measures. Though the lags are sometimes variable, as we saw in 1974 and 2008, normal lags would suggest an abrupt softening in the September ISM report (due in the beginning of October), with new claims for unemployment softening beginning somewhere around mid-October. It's possible that the historically tight relationships that we've reviewed iin recent weeks will not hold in this particular instance, but we have no reasonable basis to expect that. Indeed, if we look at the drivers of economic growth outside of the now fading impact of government stimulus spending, we continue to observe little intrinsic activity.

Already, the employment picture is ominous:

IMF Managing Director Dominique Strauss-Kahn has warned about a jobless recovery.

The New York Times reports that older Americans are worrying that they will be permanently locked out of employment. Even if that isn't true, these concerns will serve to put a lid on their spending.

Polls show that unemployment is rising again.

At a local level, Gregor Macdonald reports that California employment is falling again.’

Jobless Claims Up 1st Time in 5 Weeks Zacks | Initial Claims for Unemployment Insurance climbed by 12,000 last week to 465,000. That is the first increase in five weeks.

9-22-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Sucker's Rally? Reitmeister ‘Why am I trimming profits when the market seems to be rallying?

Are economic conditions really better than a few weeks ago when we were pressed down on Dow 10,000? No. It's just that it’s not as bad as some double dippers thought and so we rallied higher in the range.

Why should we go higher right now? Yes, there does seem to be some “technical momentum”… but I am not a technician. I am a fundamental investor. Plain and simple, the fundamentals don’t support us going much higher until there is more proof of economic growth…not just proof of no double dip.

I am a contrarian by nature as I think most investors will guess wrong given how fear and greed leads to “less than rational” decision making. So I said buy when everyone said to sell. And I was right. Now with many former sellers becoming buyers they are pushing the market above where it should be and thus I say sell. But not an outright sell. Just trim profits and be a bit more defensive until the fundamentals can provide support for a greater advance.

Bond investors waving a yellow flag: We have a breakdown once again between bond and stock investors. The rates on Treasuries went down yesterday when the stock market raged higher. Why is there more flight to safety into government bonds on a day stocks are at the highest level in months? Probably because stock investors are wrong…’

Market Rallies on 'Recession End': Is This a Joke?   Satwaves ‘We learned Monday that the recession that has gripped this country for the last two and a half years actually ended in June of 2009. The markets rallied on the news, yet left a lot of my readers asking what it meant. One of our members whom happens to own over thirty wireless phone stores for example, explained that before the recession, a great month meant 150 to 200 activations per store. A good month resulted in 100 to 150 activations per store, while a not-so-good month came in between 80 to 100 activations per store. Since the recession took hold, this subscriber considers himself lucky to acheive 50 to 65 activations per store, per month. Not wanting to let go of employees with families, this member continues to pay his employees out of his own pocket in the hope that things will get better. Is the recession really over for him? The answer will surprise you. The short answer is yes. Economists define a recession as two quarters of negative GDP growth. In layman's terms, it means only that things stopped getting worse as of June 2009. It does not signify that anything has improved. Think of a receding hairline if you will. Just because it has stopped receding does not mean new hair has grown back. For my friend, and millions of small business owners like him nationwide, things stopped getting worse back in June of 2009. A bottom had been established. Unfortunately, this is where most Americans find themselves living these days. The question going forward is how to fix it. Economists are looking for moderate growth of about 2.6% as we climb out of the recession. Let's apply this factor to the gentleman in the example above. Instead of 50 to 65 activations per month, my friend can look forward to that number increasing to 52 to 67 activations per month over the coming year. This is not something my friend is happy about, and needless to say he gets quite upset when he hears people touting the end of the recession. This will not create jobs. This will not end foreclosures. This will not put an end to the record number of poverty stricken Americans this country now has to contend with. There is a solution however, but unfortunately it would require the politicians on Capital Hill to put aside their differences and actually work for the benefit of the people they represent. It would require a sitting Democratic President to accept an idea from his former Republican rival. Americans want jobs, not unemployment checks and certainly not government programs designed to acclimate people to a life of poverty. The government can and should create those jobs, by building nuclear power plants across the country. Just as job creation in infrastructure lead us out of the great depression, so too can it lead the country now. By now everyone knows about the troubled electrical grid our country faces. Oil and coal generate most of the power we use today. Still, on a hot summer day air conditioning usage results in blackouts in cities and towns across the nation. A new movement is now underway which will test our capacities like never before, in the way of the electric automobile. Where will the power needed come from? I know of one non-public company for instance that has ordered 6000 such cars. Although the idea was first presented by a Republican, a Democrat has the ability to say today that it is a good idea whose time has come. Let both take credit and let America and its people prosper. Nuclear power plants will create jobs in every field from architecture and engineering to food service. It will put to work thousands of carpenters, electricians, plumbers, drywall installers, roofers, landscapers, excavators and the like who will purchase everything from groceries to shoes and yes....even that brand new Droid along with a two year activation. Disclosure: No positions

Investor 'Sugar High' Becomes 'Sugar Crash' Reitmeister … I am highly amused by the different reactions that took place after the FOMC Meeting Announcement. In particular day traders acted like hyperactive children at a birthday party. Instead of screaming for more cake, candy and cola they pounded the table for more stimulus. So when they saw the Fed leaning more in that direction they pushed up the Dow by 100 points in just minutes. Investors came in a bit later to find the traders crashing from the “sugar high”. You could say that the investors were like the parents who needed to clean up after the children’s mess. What investors heard from the announcement was “if the Fed is ready to use more stimulus, then economy must be a LOT worse off than we suspected”. From there the traders rally was deflated and the market ended the day in the red. It will be interesting to see which sentiment prevails going forward …’

The Great Recession is Over. Long Live the Great Deleveraging Marta ‘… The NBER declared that the recession that began in December 2007 ended in June 2009. The 18-month recession represents the longest since the end of WWII. The problem with declaring the recession over is that it suggests an end to the Great Recession. The term Great Recession relies on a misguided concept of the latest period of negative growth as a normal downturn in the business cycle, even if on a global scale. Furthermore, in circumscribing the situation within an 18-month period, the term fails to appreciate the breadth, depth and enormity of the recent - and ongoing - crisis. Think back on the Great Depression. At least that phrase contains the word, “depression,” which carries with it the stigma of a really, really bad, multi-year, economic downturn. However, even that term proves inadequate … What is happening right now, and what has been happening in fits and starts since 2000, is the Great Deleveraging, which in many ways parallels the origins and path of the Great Depression. From 1991 to 2000, just as from 1918 to 1929, the world enjoyed the benefits of The End of History (end of the Cold War), known in the former period as The War to End All Wars. The benefits showed up in the period of “Irrational Exuberance”, known in the earlier period as the “Roaring ‘20’s.” The “Crash of ‘29” was mirrored by implosion of the Internet Bubble in 2000. However, a Depression did not ensue in the ‘00’s because the Fed and the Federal government responded in exactly the opposite way that they did in 1929 and the early-‘30’s. In 2001-2003, the Fed cut interest rates and the Federal government cut taxes. An economic recovery ensued. However, just as growth during the ‘30’s proved ephemeral and sporadic, the recovery of the early- to mid-‘00’s proved unsustainable. In fact, the above-mentioned policies during the early-‘00’s, in concert with other government initiatives like “a home for every American”, increased leverage for large banks, and a failure to regulate hedge funds, actually caused something of another “roaring ‘20’s” that ended in tears in 2007 with the collapse of home lending and then hedge funds. The financial system continued to teeter through 2007, before the start of the Great Recession, and nearly collapsed in 2008. To those who believe that the financial collapse is complete and that the end of the Great Recession marks the end of an economic cycle, if not all our economic woes, you are likely to be surprised when you look back in 10 to 15 years and discover that the term Great Recession spans a much longer period than originally thought; just as the term "Great Depression" has been expanded to an indeterminate end date. There are several reasons that the Great Deleveraging will continue. First, the toxins have not been fully purged from the international banking system, and so financial intermediation will remain significantly impaired. Second, private citizens have yet to fully delever. For example, in the US, many individuals and families are slowly bleeding out financially, trying to offset underemployment in jobs paying considerably less than those lost in the past two years by slowly draining savings to pay for houses that cannot be sold. Third, the governments of several nations, as well as the ECB, the Fed and the IMF, have onboarded or underwritten many of the toxins from the private financial system. These bailouts, combined with the excesses of government forays into excessive social welfare programs, will lead to crises in the future. For example, in the US, government leaders still fail to act on the insolvencies of social security, Medicare and Medicaid. Instead, they outrageously create even more healthcare entitlements and promise that there will be no extra cost. Fourth, some governments, like the U.S. and Japan, have engaged in fruitless Keynesian stimulus projects that have worsened the countries’ fiscal situations without providing the hoped-for growth. In fact, the situation is becoming dire enough that we are beginning to see competitive quantitative easing, which presents Japan with the specter of yet another recession, deflation and a third lost decade. As they try to save their own economy, they will put more pressure on the economies of their trading partners and competitors. At some point, all the balance sheets, those of individuals, banks, governments, central banks and extra-national entities like the IMF, will need to be purged in order to right the global economy. This is the Great Deleveraging, and it’s got years to run before it finally burns out.’

State unemployment: Jobs picture gets worse in 27 states CNNMoney | On a state-by-state basis, the jobs picture continues to look a lot more grim in places like Nevada, Michigan and California.

U.S. household net worth drops Reuters | U.S. household wealth fell by $1.5 trillion in the second quarter.

9-21-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

IS THE RECESSION REALLY OVER? SIMON MAIERHOFER, ON TUESDAY SEPTEMBER 21, 2010, 12:29 PM EDT

The National Bureau of Economic Research (NBER) - a panel of economists entrusted with the responsibility to officially declare the beginning and end of recessions - declared the end of this recession. But wait, amidst the sound of popping champagne corks, the snore of complacency and a cheer leading media, you can hear the economy's distress signals.

THE GOOD NEWS

But who likes to hear about gloom and doom. Let's focus on the good news. As per NBER, the longest recession the country has endured since World War II officially ended in June 2009 (see chart below). During this recession, the economy has lost over 7 million jobs while the major market indexes a la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), Nasdaq (Nasdaq: ^IXIC), and Russell 2000 (Chicago Options: ^RUT) lost well over 50% of their value. By declaring that the recession ended 14 months ago, NBER takes advantage of the much-coveted privilege of evaluating the economy in hindsight, as it did in December 2008 when it declared that the recession had started 12 month earlier. (chart)

Investors don't have the luxury of placing trades based on hindsight and need to rely on forward looking data, not the rear view mirror. Based purely on forward looking indicators, the ETF Profit Strategy Newsletter predicted the biggest counter trend rally since the October all-time highs on March 2, 2009 and recommended buying long and leveraged long ETFs, such as the Financial Select Sector SPDRS (NYSEArca: XLF - News), Technology Select Sector SPDRs (NYSEArca: XLK - News), Ultra S&P ProShares (NYSEArca: SSO - News), Ultra Financial ProShares (NYSEArca: UYG - News) and many others. Are forward looking indicators now in line with NBER?

THE BAD NEWS

What does the NBER base its decisions on? To make its determination, the NBER looks at figures that make up the nation's gross domestic product, incomes, employment, and industrial activity.

GROSS DOMESTIC PRODUCT

Obviously, recent downward revisions to the GDP did not prevent NBER from its assessment that the recession had ended. The chart below shows recent revisions to GDP. (chart)

Telling the 15 million unemployed Americans that the recession has ended is like telling a homeless person that real estate prices (NYSEArca: IYR - News) are about to pick up. It's ironic at best and cruel at worst.

UNEMPLOYMENT

The chart below shows the real percentage of unemployed Americans expressed by the U-6 unemployment data, published by the Bureau of Labor Statistics. With unemployment near an all-time high, can the recession really be over? (chart)

CONSUMER SENTIMENT

It is said that consumer spending makes up about two thirds to three quarters of the economy. What causes consumer spending? Money flow and confidence in future growth are often the catalysts. Judging by the unemployment numbers, money flow is limited. This no doubt has had an effect on consumer confidence. The chart below shows the Consumer Confidence Index. If the recession is over, why is confidence near an all-time low? (chart)

Friday's release of the University of Michigan's Confidence Index was another blow against the economy. Based on this report, Americans planning to buy a home have fallen to a five-month low. Also, Americans planning to buy a car have dropped to the lowest level since December 2008, and 20% of Americans incomes are at risk of deflating. Not only is the lack of spending power a practical threat to any economy, it is also a statistical threat to future GDP numbers. A piece of statistical news that fits into the picture of falling consumer confidence is that the nation's poverty rate jumped to 14.3% (datasource: U.S. Census Bureau). Poverty in the U.S. is defined by a family of four living on less than $21,954 a year. Currently, 43.6 million Americans fall into this category. But perhaps this doesn't make a difference, as the government is counting on the faithful flock of economists that don't see their own demise and the few thousand Wall Streeters' that cashed in on multi-billion dollar bonuses to lift the economy.

THE SILVER LINING

Even though the NBER declared this recession over, it doesn't preclude the occurrence of another recession. According to NBER, if the economy starts shrinking again, it could mark the onset of a much feared but unexpected double-dip recession. As the first chart shows, this happened in the early 1980s.

NO DOUBLE DIP

To Wall Street's cheerleaders, the worst-case scenario is that the economy is stuck between a rock and a hard place as illustrated by this Bloomberg headline: 'Escaping double dip still means no relief for jobless.' As for investors, they seem not to care much. Monday saw U.S. stocks (NYSEArca: VTI - News) rally by 1.5%. International stocks (NYSEArca: EFA - News) and emerging markets (NYSEArca: EEM - News) were up 1.5 -1.7%. Even European stocks (NYSEArca: FEZ - News) were up, although the European Central Bank had to intervene to stabilize the Irish bond markets on Friday. In other words, the ECB had to prevent another Greece-style default. In fact, does not the emergence of yet another European country defaulting, remind us of the February - April 2010 rally. This rally occurred on ultra-low volume and against a backdrop of bad news. It then stopped all of a sudden for seemingly no specific reason. On April 16, the ETF Profit Strategy Newsletter warned: 'the pieces are in place for a major decline. We are simply waiting for the proverbial domino to fall over and set off a chain reaction.' The situation is similar right now. Even though stocks have broken out of the 1,040 - 1,130 trading range, they have done so on low volume and increased investor optimism. Within the past three weeks, the percentage of bullish investors tracked by AAII has soared by 30.15%, to the highest level in over a year. This doesn't mean that stocks can't inch up a bit further, just as they did earlier in April, but a look at all pieces of the puzzle doesn't paint the picture of a new bull market. The October issue of the ETF Profit Strategy Newsletter evaluates the bullish and bearish potential of the market with a unique approach, along with corresponding target levels and profit strategies.

Bulls Go to Extremes: Don't Buy the "Breakout", Sell It, Prechter Says Stocks jumped Monday with the Dow rising 1.4% to 10,753 and the S&P gaining 1.5% to 1143, its highest close in four months. The S&P eclipsing 1130 for the first time since late June would seem to confirm the long-awaited technical breakout for the index, and could pull many reluctant investors off the sidelines. "Many automatic buy and sell orders are set around market milestones such as these, and investors watch those levels closely for clues about which way the market may go next," the AP reports. But the wise move now is to sell this recent rally, says Robert Prechter, president of Elliott Wave International. "I think we're getting ready for another leg on the downside," Prechter says, citing evidence of what he says are extreme levels of optimism, including:

-- The most-recent AAII poll shows bearish sentiment at 24%, less than at the Dow's peak in October 2007.

Mutual fund cash positions being at record lows, which Prechter says should be taken at "face value" rather than the result of massive redemptions from equity mutual funds.

The TRIN Index (a breadth indicator) at one of its lowest levels in recent years, indicating extreme buying pressure of stocks at 52-week highs, i.e. investors chasing momentum/performance.

In addition, Prechter notes volume has been punk during the rally in recent weeks a sign, to him, that buyers lack conviction. The veteran market-watcher says the current environment is similar to the 1930-31 period. "The market can make its high while optimism makes a peak despite the fact you're going stair-step lower," he says. "What we had in May with the ‘flash crash' was the first wave down." Prechter predicts these periods of downturns sandwiched around 4-5 months of recovery "where people think we've hit the bottom" is likely to "go one for quite a long time" until a true bottom is reached well below the March 2009 lows, much less today's levels.

Macro Insights From Seth Klarman Seth Klarman, the legendary hedge fund manager at Baupost is increasingly concerned about the macro investing environment. With the retirements of several prominent hedge fund managers in recent months he’s clearly not alone in his thinking. In a recent interview (see here for the entire interview) Klarman provides some excellent macro insights and explains why he is more worried about the world than he has been in his entire career. Klarman echoes comments I have often made here. In effect, the recovery has been almost entirely artificial and will result in unquantifiable future threats. Klarman calls the current market a “Hostess Twinkie”:

A Hostess Twinkie is a confection that has made many childhoods slightly happier, but it is composed of totally artificial ingredients. My context, of about 6–12 months ago, was that virtually everything was being manipulated by the government. Nothing was natural in the markets. Interest rates were held at zero, the government was buying all kinds of securities—notably, mortgage securities—and who knows what else has ended up on the Fed’s balance sheet.

We have had lending programs—Troubled Asset Relief Program (TARP), Cash for Clunkers, and even Cash for Caulkers. We just don’t know the full extent to which investors have been manipulated. But certainly, the government wants people to buy equities, to invest so that the market will move higher, creating a wealth effect or at least eliminating the negative wealth effect in order to make people feel better about their situation, to restore a degree of optimism so that the economy might recover.

I am worried to this day about what would happen to the markets, to the economy if, in the midst of all these manipulations, we realized that they are, in fact, a Twinkie. I think the answer is that no one knows, including those in Washington. Will the economy continue to recover and grow at a healthy rate or will we sink into a double-dip recession? As we can all see, the high degree of government involvement continues.

Of course, the USA isn’t the only country kicking the can. Klarman cites the European bailout as another game of government kick the can:

The European bailout is gargantuan. I doubt it will work because it kicks the can further down the road and is yet one more manipulation that encourages people to own securities. It is almost as if our government is in the business of giving people bad advice: “We are going to hold rates at zero. Please buy stocks or junk bonds that will yield [an inadequate] 5 or 6 percent.” In effect, it forces unsophisticated investors to speculate wildly on securities that are too overvalued.

All of this has Klarman more concerned than he has ever been. That’s a mouthful from a legend like Klarman who has seen more than his fair share of cycles:

I am more worried about the world, more broadly, than I have ever been in my career.

Like myself, Klarman believes there are unquantifiable repercussions from the bailouts:

I am also troubled that we didn’t get the value out of this crisis that we should have. The Great Depression led us to a generation—or even two generations—of changed behavior. I grew up hearing about how our grandparents had a “depression mentality.” It’s awful to have a depression, but it’s a great thing to have a depression mentality because it means that we are not speculating, we are not living beyond our means, we don’t quit our job to take a big risk because we know we might not get another job. There is something stable about a country, a society built on those values.

In some sense, from the recent crisis we have developed a “really bad couple of weeks” mentality, and that’s not enough to tide us through, teach us to avoid future bubbles, and ensure a strong recovery.

Klarman isn’t a macro expert (he’s a bottom up investor), but something just doesn’t pass the sniff test with all these bailouts. How can the global economy continually bailout the losers without ever allowing these excesses to truly pass from the system? Klarman says we will eventually reach a tipping point:

A tipping point is invisible, as we just saw in Greece. In most situations, everything appears fine until it’s not fine, until, for example, no one shows up at a Treasury auction. In the meantime, we can be lulled into thinking all is well, that the United States will always be rated triple-A. Treasury Secretary Timothy Geithner speaks as if—at least in his public statements—he has been lulled into thinking that the United States will always be triple-A. That kind of thinking guarantees that someday the United States will no longer be triple-A. A sovereign deserves to be rated triple-A only if it has valuable assets, a good education system, a great infrastructure, and the rule of law, all of which are called into question by an eroding infrastructure, a government that changes the law or violates it whenever there is a crisis, and a legislature that shows no fiscal responsibility. There is an old saying, “How did you go bankrupt?” And the answer is, “Gradually, and then suddenly.” The impending fiscal crisis in the United States will make its appearance in the same way.

Klarman finds the current environment particularly difficult because many of the hedges that have been working are more speculative in nature. He finds little value in most commodities (with the exception of land) because commodities offer no real cash flow and instead rely almost entirely on some future “greater fool” buying the asset from you. Klarman makes an exception with gold, however:

Gold is unique because it has the age-old aspect of being viewed as a store of value. Nevertheless, it’s still a commodity and has no tangible value, and so I would say that gold is a speculation. But because of my fear about the potential debasing of paper money and about paper money not being a store of value, I want some exposure to gold.

Klarman sees all of this government intervention resulting in higher rates of inflation:

I think the odds are low that such high inflation will happen in the near future, but looking ahead five years, it becomes more likely, although certainly not a 50/50 chance. With a very limited initial outlay, I think a hedge like ours is a reasonable protection.

Ultimately, the downside of the current bailout fever comes in the form of an intangible risk. Capitalism without losers is like Catholocism without hell. Klarman sees no way of avoiding future collapses given that we’ve never actually been forced to learn from our past collapses:

Essentially, the problem is that government intervention interfered with the lessons investors needed to learn. Those who stared into the metaphorical abyss are right back at it, with the possible exception of college endowments, for whom the pain has been long lasting because of their spend rate. Almost everybody else is drinking the Kool Aid again, and it is very troubling. We could have another serious collapse, and people would again not be prepared for it.

Secular Bear Market Myths, Part 2   Claassen In yesterday's Secular Bear Market Myths Part 1 we debunked the myth that a secular bear market requires poor earnings growth. In part two, we illustrate the typical price pattern of a thirteen to sixteen year secular bear market and use that pattern to provide a near term and long term Market Outlook. The market may be nearing a critical juncture. If you want to know what to expect, read on ….

A Secular Pattern

Inflation Adjusted (Real) S&P 500 Index 1953-1991 (chart)

After adjusting for inflation, both the high inflation driven secular bear markets and the deflation driven secular bear markets take on a more similar form. This is especially true when a secular bear market is defined as the period between the peak and trough of the average P/E ratio. Using the numbers on the above chart we see that from the 1966 peak in the P/E ratio [1] (see chart of Shiller’s CAPE in first report) to the 1982 low [4] was sixteen years. Both the nominal and real price peak was in late 1968, thirteen years from the 1982 low. This is indicative of the typical secular bear market; a period of sixteen to thirteen years.

There are seven years between the two peaks [1] and [2] along with two major declines [3]. After the second major decline, there is a relief rally [R], then a multi-month trading range as a period of distribution, followed by a multi-year decline to complete the bear market [4].
S&P Composite 1917-1951 with Present S&P 500 (chart)

We can see a similar pattern of behavior in the deflationary bear market of the 1930’s. Yes, the market overlay in orange is our present S&P 500. We will get to that next.

Like the inflation adjusted 1970’s (and 1900-1921) the major highs and lows follow a pattern. The entire period from 1929 to 1942 encompasses thirteen years. The two major tops [1] and [2] are seven years apart. There are two major declines [3], a relief rally [R] followed by a prolonged sideways period, and finally a decline to complete the bear market [4].

The 2000 - 2016? Bear Market

Overlaid in orange on the above chart is the current S&P 500 with the P/E ratio peak in 2000 lined up with the P/E ratio peak in 1929. Not surprisingly, the peak [2] and troughs [3] all line up within a couple of months of their 1930’s counterparts. It appears the rally from the March ’09 low was the relief rally [R]. If our current S&P 500 follows the same path as these previous bear markets, we should expect a prolonged sideways period and decline to final low of the bear market sometime in-between 2013 and 2016. As illustrated in the historical chart of the S&P Composite, when this secular bear market is complete the trailing Shiller CAPE ratios should be under ten. The higher the earnings from now until that time, the less the market will need to decline to complete this period and move into the next secular bull market. Conversely, the lower the earnings, the more the market averages would need to decline to meet their sub 10 trough in the index P/E ratio.
Inflation Adjusted (Real) S&P 500 1959-1983 with Current Inflation Adjusted S&P 500 (chart)

As nicely as the current bear market has fit within the profile of the past, the chart above and the chart below should serve as signs of caution not to expect too tight a correlation between past markets and the present. The patterns of past market behavior are a good guide; they help us understand the environment we are in and keep our expectations in check. But the turning points that look so perfect on the monthly charts have still been accurate only within a +/- of several months. In hind sight that does not seem like much, in real time two or three months can feel like an eternity.

Also, each secular period is unique, and the market will respond to that uniqueness in a manner different than what our past market roadmaps might lead us to expect. For example, when we line up the current market with the 1966 P/E ratio peak (above), although the major turning points line up, there is a unique rally peak in 1968 (see above chart). That difference can be explained by the difference between inflation and deflation based bear markets. But, for now, the current environment is not completely identical to either the pure inflation or deflation periods.

Obviously, current inflation is not the least bit similar to the 1970’s and despite deflationary pressures; this is not the Great Depression. We do believe that this cycle will have more in common with deflationary cycles than inflation. If we look back again at the P/E chart on (reposted below) we can see that secular bear markets have cycled between a falling interest rate and falling P/E environment, and a rising interest rate falling P/E environment. The current economic background is more similar to the deflationary period. In previous Market Updates we have illustrated how, since 1998, the intermarket correlations have been indicative of a market that fears deflation more than inflation, which fits very well with this cycle.
P/E Ratio (CAPE) for US Equities and Long Term Interest Rates: source RJ Shiller (chart)

NASDAQ Composite Aligned with Nikkei 225 1984-2010 (chart)

Japan is another example of a deflationary bear market. We have shown the above chart before, with the overlay of the NASDAQ Composite matching the year 2000 peak of the NASDAQ and the 1990 (December 1989) peak of the Nikkei 225. The major turning points fit very well with the pattern, but the volatility between the turning points is very different. For example, where our S&P Composite model suggest a modest decline followed by a sideways period (after [R]), the Nikkei 225 collapsed without pause. It is very unlikely that the NASDAQ Composite will decline at same rate with which the Nikkei 225 declined at this stage of their bear market. It is more likely that the sharpness of the Nikkei’s decline from 2000 [R] to 2003 [4] will be a feature unique to their bear market. We should also note that it is apparent from our model that Japan’s bear market should have been complete in 2003 [4]. The Nikkei’s rally from the 2003 low to 2007 high was an astounding 140%! But, the decline that followed, and the current persistent deflation shows they have not yet pulled themselves out of their economic bear market. Is this because of incorrect monetary or fiscal policy decisions? Have we made similar policy mistakes? We don’t know and won’t know until after the fact.

Thus, while we have a good road map to follow, we must still diligently monitor our indicators and market conditions. It is more important to follow what the market is doing, than what it should do relative to any predictive model.

Short Term Outlook

The above pages were originally written in June, 2010. The addendum below is a short term outlook as of September 19, 2010. (chart)
Current Dow Jones Industrial Average Daily with NASDAQ 100 Year 2000 Overlay

…’

Homebuilder Confidence Remains in the Dump

U.S. household net worth drops Reuters | U.S. household wealth fell by $1.5 trillion in the second quarter.

For the Unemployed Over 50, Fears of Never Working Again New York Times | A growing number of people in their 50s and 60s are starting to worry that they may be discarded from the work force — forever.

Gold Hits Another Record as Dollar Tumbles On Fed Announcement Kurt Nimmo | Another example of the indispensability of gold as a hedge against the bankster engineered economic implosion.

Fed Responds To Allegations Of POMO-based Stock Market Manipulation It is no secret that the Federal Reserve, and its now semi-daily interventions in market liquidity via ever increasing Permanent Open Market Operations (aka POMOs, next on deck – Wednesday and Friday for a total of about $7-8 billion), is rather hell bent on creating the impression that the economy is alive and well.

For Sale: Welcome to United States of Tent Cities As the mortgage crisis cuts deep, real estate firms say over a million Americans may lose their homes to foreclosure this year.

Gold Is Not Going Up: The Dollar Is Collapsing Jim Rickards on CNBC talks about gold, the dollar and their relationship.

America Is Today In Worse Shape Than Japan During Its Lost Decade? BIS – the central banks’ central bank – agrees that Americans are in worse shape than the Japanese.

National / World

Biocratic Solution to Poverty and Disease? Eradicate the Human Jurriaan Maessen | This is the religion of the scientific dictatorship in a nutshell.

Second Amendment Group Made Terror Threat List in Pennsylvania Kurt Nimmo | Israeli company said violent militias would be at peaceful event held at the Pennsylvania capitol.

Global Tax Scam Shifts From Climate Change To Poverty Paul Joseph Watson | The elite are determined to rob the American people blind while creating a slush fund for world government by any means possible.

Latest Vaccine Propaganda: It Prevents Heart Attacks Kurt Nimmo | Government and Big Pharma are desperate to convince you to take their toxic vaccines.

American People To Congress: Shut Up And Get The Hell Out Of Office Americans are sending a pretty clear message to Congress members who have continually pushed hugely unpopular legislation this election year – shut up and get the hell out of office.

Israeli Company Listed Second Amendment Group As Terror Threat Last week it was reported that Tea Party activists had made the Pennsylvania terror threat list generated by an Israeli company. Now we learn that Second Amendment as well as anti-tax activists were also snooped by the state with the assistance of he Institute of Terrorism Research and Response.

Discover Your Humanity And Live Forever In a deeply considered and impassioned call for the re-energisation of humanity, Alex describes how our species is still only in a pre-embryonic stage, and that our intellect is being shaped and limited by force fed distractions.

Average American Works 231 Days To Support Government With Taxes “The average American worked 231 days just to support government, which consumes 63.41 percent of national income.” Yow! The government consumes two-thirds of income! We’re freaking doomed!

Jimmy Carter Says US More Polarized Than During Civil War “This country has become so polarized that its almost astonishing…. Not only with the red and blue states… President Obama suffers from the most polarized situation in Washington that we have ever seen – even maybe than the time of Abraham Lincoln and the initiation of the war between the states.”

Global Tax Scam Shifts From Climate Change To Poverty As the science behind global warming becomes increasingly discredited and its proponents are exposed as eugenics-obsessed control freaks who care only about destroying freedom, the effort to make Americans pay a global tax has shifted from the justification of climate change to that of poverty.

President Ahmedinejad Threatens U.S. With War ‘Without Boundaries’ Iranian President Mahmoud Ahmedinejad warned the Obama administration today that if Iran’s nuclear facilities are attacked, the U.S. will face a war that “would know no boundaries.”

China tells U.S. to keep out of South China Sea dispute China told the United States not to interfere in a regional dispute over claims to the South China Sea, saying it would only complicate the matter. China has been increasingly strident in asserting its territorial claims, especially maritime ones.

Gulf States Order $123 Billion of U.S. Weaponry to Counter Iran, FT Says [ See, say the neocons / military industrial complex, who says that war, rumors of war, and threats of war don’t pay dividends they say … riiiiight! The guns v. butter argument. Sounds like a plan … for continued national bankruptcy and conflagration. Bad economics. ] Arab states around the Persian Gulf have ordered U.S. weapons systems worth a total of $123 billion “to counter Iran’s military power,” the Financial Times reported.

Riot Police On Standby, As Greek Truckers Form Massive Protest Blockade The news out of Greece continues to suggest that every attempt to reform the economy and liberalize key sectors is being met with serious resistance.

Nato helicopter crash kills nine in Afghanistan’s bloodiest year Telegraph | The crash early on Tuesday in Zabul province brought this year’s death toll to at least 529.

`Drudgereport: Professorial president assigned 'homework' to advisers... Critical players in national security team 'doubt strategy in Afghanistan will succeed'... Axelrod 'complete spin doctor'... President of Afghanistan suffers from 'manic-depression' … [Wow! No wonder he’s aligned with the u.s. … fits right in, one nutcase to another ] ... Rahm cheers drone attacks: 'Who did we get today?'...WOODWARD DOES OBAMA: KISS OR DISS? [ What strategy … toward what end … why, other than the newly cultivated heroin trade, which of course is great for cash money sub-rosa, which is great for the few, and of course, the war’s great for the military complex but bad for the u.s. economy generally (resources literally blown up). Win what? You see; for the defacto bankrupt american nation, this is one of those lose, lose scenarios regardless of so-called outcome. ]`WASHINGTON — Some of the critical players in President Obama’s national security team doubt his strategy in Afghanistan will succeed and have spent much of the last 20 months quarreling with one another over policy, personalities and turf, according to a new book. The book, “Obama’s Wars,” by the journalist Bob Woodward, depicts an administration deeply torn over the war in Afghanistan even as the president agreed to triple troop levels there amid suspicion that he was being boxed in by the military. Mr. Obama’s top White House adviser on Afghanistan and his special envoy for the region are described as believing the strategy will not work …’
`Mob’s man cuomo undecided on debating … how embarrassing for new york … and their cuomo coma … ask cuomo how many mob prosecutions he’s brought ... POLL: USA Loses No. 1 to Brazil-China-India Market...`
`HOUSEHOLD NET WORTH DROPS...`

Sen. DeMint champions 'tea party' candidates (Washington Post)      Bill Maher digs up O'Donnell 'witchcraft' clip (AP)   [ She’s done! There’s no excuse for that! None! ] ‘… "I dabbled into witchcraft. I never joined a coven," she said. " ... I hung around people who were doing these things. I'm not making this stuff up. I know what they told me they do," she said. "... One of my first dates with a witch was on a satanic altar, and I didn't know it. I mean, there's little blood there and stuff like that," she said. "We went to a movie and then had a little midnight picnic on a satanic altar." …’     Occult Obsessed Elite Claim Christine O’Donnell is a Witch Kurt Nimmo | The corporate media, the propaganda organ of the global elite, sets its sites on Delaware’s Christine O’Donnell. … Sorry kurt … there’s no excuse for that … she’s done!    An O'Donnell repeat is unlikely (Washington Post) There are at least three reasons to be skeptical of Del. Senate candidate's ability to win. OPINION: O'Donnell's forgivable sin? | Politerati    Rough Sketch: 10 reasons O'Donnell may be a witch

Justice: FBI improperly opened probes   (Washington Post) [ Well, I just hope they’re as zealous (in probing readily discernible crime) with regard to my RICO matters and the corruption in the (judicial / legal) process since, in the final analysis, it will have been the corruption within that will have brought the nation down irrevocably and totally ] .

                                                                                                                                    September 13, 2010

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

Dear Sir:

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include a copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf   ].

The correspondence I received from Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as     fbicorrespondencereyes.htm     .   With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the    RICO VERIFIED COMPLAINT    (see infra). Such includes and as set forth in the case, inter alia,

A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..

Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.

The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages:   [ Shiff Order of Dismissal With Prejudice on Coan’s Failure to File        Page 1                Page 2          ]

Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [   transcript in pertinent part -     crossexamofcoanbypeia.pdf ]

Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.

Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.],   Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3^rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

Sincerely,

Albert L. Peia

611 E. 5^th Street, #404

Los Angeles, CA 90013

(213) ****** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).

9-20-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Yes! It is a full moon with predictable lunacy from the lunatic frauds on wall street!

YAHOO [BRIEFING.COM]: ‘The S&P 500 pushed through technical resistance to set a fresh four-month high on Monday. There were no catalysts or headlines to account for the climb. Only a bullish bias among market participants underpinned the move. Stocks made only modest gains in the early going. Most traders took their cues from Europe, where the major bourses staged strong gains as concerns about sovereign debt subsided. Early action was generally consistent with the relatively cautious trade that typically precedes an FOMC announcement, the latest of which will be released tomorrow afternoon. Though no rate actions are expected tomorrow, many will look for changes in the verbiage of the actual the FOMC statement to give clues about where policy might be headed …’ Riiiiight … changes in VERBIAGE … in other words, b* s* alone … Come on! … you just can’t make this stuff up … again! (the no-recession fed, then nation-bankrupting spending, then just before election ‘recession over’ … the recession that’s a depression that never ended and there’s desperation in the air … and the the frauds on wall street are taking advantage of the pre-election b* s*) … the new ‘churn and earn fraud they’ll get their commissions again on the way down’ … THIS IS A GREAT OPPORTUNITY TO SELL / TAKE PROFITS SINCE THERE’S MUCH, MUCH WORSE TO COME!

Gerald Celente: US Economy = Depression Famous investor and billionaire George Soros referred to the US economy as “blah,” saying he expects a further slowdown. US President Barack Obama has insisted however that the US economy is heading in the right direction. Gerald Celente, the director of the Trends Research Institute said the economy is not just blah, it’s in a depression. It’s the summer of the greatest recession,” he said.

Too Much Liquidity Creating New Investment Bubbles … Again?

20 Signs That The Economic Collapse Has Already Begun For One Out Of Every Seven Americans The Economic Collapse | This year, millions more Americans will discover that the music has stopped playing and they are left without a seat at the table. ‘ … The following are 20 signs that the economic collapse has already begun for one out of every seven Americans…..

#1 The Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in 51 years of record-keeping.

#2 In the year 2000, 11.3 percent of Americans were living in poverty. In 2008, 13.2 percent of Americans were living in poverty. In 2009, 14.3 percent of Americans were living in poverty. Needless to say the trend is moving in the wrong direction.

#3 In 2009 alone, approximately 4 million more Americans joined the ranks of the poor.

#4 According to the Associated Press, experts believe that 2009 saw the largest single year increase in the U.S. poverty rate since the U.S. government began calculating poverty figures back in 1959.

#5 The U.S. poverty rate is now the third worst among the developed nations tracked by the Organization for Economic Cooperation and Development.

#6 Today the United States has approximately 4 million fewer wage earners than it did in 2007.

#7 Nearly 10 million Americans now receive unemployment insurance, which is almost four times as many as were receiving it in 2007.

#8 U.S. banks repossessed 25 percent more homes in August 2010 than they did in August 2009.

#9 One out of every seven mortgages in the United States was either delinquent or in foreclosure during the first quarter of 2010.

#10 There are now 50.7 million Americans who do not have health insurance. One trip to the emergency room would be all it would take to bankrupt a significant percentage of them.

#11 More than 50 million Americans are now on Medicaid, the U.S. government health care program designed principally to help the poor.

#12 There are now over 41 million Americans on food stamps.

#13 The number of Americans enrolled in the food stamp program increased a whopping 55 percent from December 2007 to June 2010.

#14 One out of every six Americans is now being served by at least one government anti-poverty program.

#15 California’s poverty rate soared to 15.3 percent in 2009, which was the highest in 11 years.

#16 According to an analysis by Isabel Sawhill and Emily Monea of the Brookings Institution, 10 million more Americans (including 6 million more children) will slip into poverty over the next decade.

#17 According to a recently released Federal Reserve report, Americans experienced a $1.5 trillion loss in combined household net worth in the second quarter of 2010.

#18 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.

#19 Median U.S. household income is down 5 percent from its peak of more than $52,000 in 1999.

#20 A study recently released by the Center for Retirement Research at Boston College University found that Americans are $6.6 trillion short of what they need for retirement … ‘

Black September Postponed, New Month Yet To Be Determined Shell ‘… US markets have to assimilate notes from the FOMC meeting and various housing reports this week. Today, the National Association of Home Builders Index came in at 13, unchanged from the previous month. With 50 a neutral number, there was no optimism here. Tomorrow US building permits and housing starts will be announced. With US home seizures and bank foreclosures rising to records, and banks offering these home in competition with new homes, new home builders may be relying upon divine intervention to assist with their sales…’

Major Indices Up Against the Wall ‘ … Bad News:

Oil dropped to a two week low on concerns for global growth.

Ireland and Portugal were back in the news with the Irish/German Bund spread reaching record highs along with the cost of insurance on their debt; the story was the same in Portugal and these developments helped to drive the Euro down against the dollar.

Barclays Bank (BCS) issued a memo saying that Ireland may need IMF help, a view that was promptly and vigorously denied by the Irish government, but the markets seemed to rebuff those denials as gold reached a new record high.

On the home front, Fed Ex (FDX) reported seeing slower growth ahead and on Friday we saw our 125th bank failure for the year.

The New York Empire Manufacturing Index posted a huge miss for September, coming in at 4.1, down from a previous 7.1 and consensus estimate of 6.4

Industrial production declined in August to +0.2% from +0.6%.

On Friday, an unexpected drop in the University of Michigan Consumer Sentiment index to 66.6 for September took that index to its lowest level in more than a year.

Unemployment remains at a quarter century high while in 2009, the U.S. poverty rate was the highest since 1994, with 14% of Americans living below the poverty line.

In the all important real estate market, Realty Trac reported that bank repossessions hit a record high in August and now one out of every 380 homes in America are in some phase of the foreclosure process. There is now a three year supply of distressed homes on the market and this comes against the backdrop of household wealth declining 2.8% in the second quarter and the lowest median household income since 1997.

The lumber industry is an important facet of the U.S. economy and is reflective of the state of the housing industry. This week the Western Wood Products Association reports that 2009 was its worst year on record and that 2010 timber sales and production could be even worse. In 2005, the U.S. had a record 2.1 million housing starts that dropped to 555,000 in 2009, the lowest number of starts since World War II.

All of this would lead to the obvious conclusion that we could expect still lower home prices ahead.

What It All Means

From a technical standpoint, the markets are poised for a significant decline and from a macro standpoint; significant risks are inherent in the slowing economy and problems in Europe heating up yet again. Seasonality also points to increasing danger as September and October tend to be treacherous months for market declines.

Furthermore, mutual fund cash levels are at record lows and this phenomenon was also in play before both the 2000 and 2008 market meltdowns. With not much gas left in the tank and an ominous macro environment, it’s hard to make a bullish case in the weeks ahead.

However there’s always the possibility for upside surprises from resilient earnings reports and ever present, not so invisible hand of government intervention here and abroad.

A sustained breakout higher will likely lead to a significant rally while failure here will likely lead to a significant correction to test recent lows.

The most likely probability is for a move lower and Wall Street Sector Selector remains in the “Red Flag” mode, expecting lower prices ahead.’

How Wall Street Manipulates the News...And Investors Shaefer Wall Street’s business model depends upon two factors:

(1) Keeping you interested enough in the markets to leave your cash with them so they can float it, make a return on it higher than the one they pay you, and use your cash to convince the regulators that they have enough in “assets” to borrow money to expand their own proprietary trading, and...

(2) Keeping you trading. The easiest way for them to do this is to slant the news favorably for a few weeks to a few months, then slant the same or similar news unfavorably for a few weeks to a few months. This way, they get you to buy on their alleged good news, then sell when the news “turns bad” and hopes are dashed. That gives them two commissions instead of one. Done over the course of a year, it gives them dozens rather than one or two.

A recent case in point is the current rally based upon the fact that the ISM Manufacturing index rose from 55.5 to 56.3, an inconsequential amount not much bigger than a rounding error, from July to August of 2010, an inconsequential time frame too short to measure anything meaningful. The following week, the ISM Non-Manufacturing Index (“services” rather than manufacturing) fell a rather more consequential 54.3 to 51.5, its lowest reading since January, a rather more consequential time frame. Since Services comprise three-quarters of US economic activity, one might think this would have been cause for concern. But the news was buried on page 16 because Wall Street wants us buying now, not selling. Once they have their shorts in place (today? tomorrow?) so they can profit both from their short positions and from retail investors’ panic selling and the commissions that flow only from activity, you’ll find “the news” has magically turned bad again. Then, after they have your commission dollars and their profits from short-selling, they'll spin the news positively again. It’s a classic example of Lucy van Pelt whisking the football away from Charlie Brown every time he gets th-i-i-s close to actually kicking it through the uprights. But you don’t have to play along! Stand back from the daily barrage of data and “commentary” on the data and you’ll see the entire process more clearly. And if you agree, you might take a look at selling into euphoria and buying into despair, as we try to do. The current outlook is supposedly nothing but lollipops and rainbows, so we are now short via ProShares' inverse ETFs: S&P 500 (SH), Emerging Markets (EUM), and Russell 2000 (RWM). I expect a rally based upon real, versus manufactured, slanted and spun, news, this fall. Throwing out the current crop of ne’er-do-wells in Congress alone should be good for a few hundred points on the Dow. But, personally, I don’t see that rally mounting from 10,600. No, Wall Street needs to terrify the public one more time, so they can cover their short positions and buy cheaply as the public sells. A decline below 10,000, possibly well below 10,000, is in their interest before the next big rally. Do your own due diligence – stand aside and watch the manipulation of the silliest sorts of news like: “Only 450,000 newly-unemployed this month in America! Economists had predicted 460,000!! Buy!!! Buy!!!!” And if you agree, take a look at the above and other inverse ETFs. I imagine they’ll be very good to us over the next few weeks or couple months…

Author's Disclosure: We and those clients for whom it is appropriate own or are purchasing SH, EUM, and RWM.

The Fine Print: As Registered Investment Advisors, we see it as our responsibility to advise the following: we do not know your personal financial situation, so the information contained in this communiqué represents the opinions of the staff of Stanford Wealth Management, and should not be construed as personalized investment advice. Past performance is no guarantee of future results, rather an obvious statement but clearly too often unheeded judging by the number of investors who buy the current #1 mutual fund only to watch it plummet next month! We encourage you to do your own research on individual issues we recommend for your analysis to see if they might be of value in your own investing. We take our responsibility to proffer intelligent commentary seriously, but it should not be assumed that investing in any securities we are investing in will always be profitable. We do our best to get it right, and we “eat our own cooking,” but we could be wrong, hence our full disclosure as to whether we own or are buying the investments we write about.’

The Mega-Bear Quartet and L-Shaped 'Recoveries' Doug Short I retired this chart series in early August in deference to my preferred inflation-adjusted series that aligns the S&P 500 2000 high with the Nikkei peak in 1989. Here's an update of the retired series by special request.

This chart series overlays the current S&P 500 with the L-shaped "recoveries" after the Dow Crash of 1929, the Nikkei 225 after Japan's 1989 bubble, and the post Tech Bubble NASDAQ. Click the chart below for a larger version and use the links to see various comparisons. [chart]

I've also included an updated two-decade inflation-adjusted chart, which gives us a fascinating visualization of the impact of inflation on long-term market prices. The higher the rate of inflation during a bear market, the greater the real decline. Compare, for example, the peak of the Dow rally in year seven with the same peak in the two-decade nominal chart. The difference is the result of deflation during the Great Depression.

It's rather stunning to see the real (inflation-adjusted) decline of the Nikkei, two decades years after its crash. The recent lows rival the traumatic Dow bottom in 1932, less than 3 years after its peak.

These charts remind us that bear markets can last a long time. And it's not necessary to go back to the Great Depression for an example.

[See also my preferred version, which puts the start of the current secular bear in 2000 with the popping of the Tech Bubble. In inflation-adjusted terms, the S&P 500 reached its all-time high in March 2000. Although the nominal high in October 2007 was higher, the "real" high was not.]

Note: These charts are not intended as a forecast but rather as a way to study the today's market in relation to historic market cycles.

The Analysts Are Starting to Get Silly    Moenning In doing my weekend research, I came across a couple of items that reminded me why I am such a cynic:

First, beware of "Conventional Wisdom": I believe it is safe to say that it is widely accepted that Merger & Acquisition (M&A) activity is generally viewed as a positive. That it reflects a view that "stocks are cheap" and that the act of buying represents a source of demand. While true to some degree, I found the following points from an opposing view to be interesting:

M&A activity is not a sign that corporate managements are becoming more positive regarding the future. It is, in fact, an indication that those same managements are viewing the growth prospects of their existing markets as diminished if not minimal.

Many studies have shown that mergers, more often than not, do not work out as expected and do not achieve the results touted by the acquiring managements at the time they are concluded.

Mergers almost always result in "duplications of effort" and thus lead to layoffs of personnel. More people losing their jobs in the midst of the current recession is certainly not going to be helpful to the economy.

Here are some interesting points; I'm sure you'll agree:**

Second, in this week's Barron's I came across the following excerpt from "The Weekly Speculator" (date tagged Sept. 16) in the Market Watch Section. I use this only as an example, and not as a general criticism of this newsletter. The excerpt reads in part as follows:

...but it is our belief that recent months have seen a data cycle play out, rather than a genuine moderation of economic activity. Support for this view has certainly been delivered in recent weeks by a sudden firming of US economic data, which has consistently been above consensus since late August.

Really?

It seems to me that housing sales have collapsed since the the "Home Buyer Credit" ended. Automobile sales cratered after the "Cash for Clunkers" program finished. Inventories are building again, which may very well not be a sign of confidence, but simply overstocking. Consumer credit continues to contract. Consumer sentiment is falling. I could go on.

Certainly there have been some positive reports, mostly it seems relating to layoffs, jobless claims, etc. But in general, I read the data as bottom-bouncing at best, and a re-intensifying contraction as a fair possibility. Examine the below table of recent economic reports which I have compiled. It is by no means complete, but hopefully will give a fair representation of recent economic reports. You be the judge:

Recent Economic Data

Date

Report

Actual

Reuters
Estimate

Reuters
Actual

Evaluation

9/17

UofM Conf

66.6

70.0

68.9

Worse

9/16

Philly Fed

-0.70

3.8

-7.7

Missed

9/16

Jobless Claims

450K

455K

451K

Better

9/16

Producer Price Index

+0.4%

+0.3%

+0.2%

Worst

9/15

Industrial Production

+0.2%

+0.2%

+1.0%

Worst

9/15

Empire Manuf Survey

4.14

5.00

7.10

Weakening

9/14

Business Inventories

+1.0%

+0.6%

+0.3%

Improving

9/14

Retail Sales

+0.4%

+0.3%

+0.4%

Better?

9/10

Wholesale Inventories

+1.3%

N/A

+0.1%

Improving

9/8

Consumer Credit

-$3.6 billion

-$3.5 billion

-$1.3 billion

Weakening

9/8

Beige Book

Widespread Signs
of Deceleration

N/A

N/A

Weakening

9/3

Non-Farm Payroll

-54K

-90K

-131K

Better

9/3

Unemployment Rate

9.6%

9.6%

9.5%

Flat/Worsening

9/2

Factory Orders

+0.1%

+0.3%

-0.6%

Weak

9/1

Domestic Car Sales

8.3M

8.7M

8.9M

Weaker

8/25

New Home Sales

276K

340K

330K

Record Low

8/24

Existing Home Sales

3.83M

4.65M

5.37M

15 year low

Relating to the decline in outstanding consumer credit, I believe that this is part of the consumer getting their house in order. I feel that it will help build a solid foundation from which a secular (long-term) economic advance could begin such as the 50s and 60s and the 80s and 90s.

For the immediate future however, I am of the opinion that declining consumer credit reflects an attitude by the consumer to spend less, and this will be a damper to the economy in the short run.

Inventory build-ups are more of an iffy situation. If the reflect an unintended accumulation of unsold merchandise, then a period of inventory reduction may be forth-coming. It is this inventory reduction that concerns me and would be one more near term negative.

So, what do take away from this? Just because it's written or spoken doesn't make it true, even my statements. Take very little on faith, especially when it is regarding the markets.

"Trust no one" - Walter Donovan to Indiana Jones, Indiana Jones and the Last Crusade

Disclosure: No positions

Ron Paul “This Is Much Bigger Than The Great Depression!” Congressman Ron Paul recently appeared on Fox Business’ The Tom Sullivan Show to discuss the Tea Party, where real change comes from, how he began his study of economics, and where he sees the economy going.

Worst U.S. Recession Since 1930s Ended in June 2009, Group Says Newsmax | The worst U.S. recession since the Great Depression ended in June 2009, the National Bureau of Economic Research said.

Ten Reasons This Rally Is Ultimately Toast Wachtel ‘Here are 10 reasons why risk assets (stocks, riskier forex pairs, industrial commodities) have a very high probability of a pullback very soon.

Technical Indicators: High Risk Of Downturn
The S&P 500 is the best single representative of overall risk appetite. It is telling us that a pullback is coming very soon. (chart)
1. Coming Bounce Off Of Upper Bollinger Band (standard 2, 20 default settings):

Once the index starts to pull back from its upper Bollinger band, it usually pulls back to at least its 50 day SMA, often lower. Since the end of the most recent rally in late April, this rule has worked flawlessly in both mid-June and mid-August. The index is now once again at its upper Bollinger Band.

Up Against Multiple Reinforcing Layers Of Strong Resistance Around 1120.

2. Upper Bollinger Band (noted above).

3. 200 day SMA (purple line).

4. 61.8% Fibonacci retracement from the February 2010 low (which has held up well as support, only violated for a few sessions in July and August).

5. Neckline (red horizontal line around 1125) of the big bearish Head-And-Shoulders pattern dating all the way back to the beginning of 2010. Left shoulder in January, head in April, and right shoulder in June.

6. This same resistance at 1125 is reinforced by another bearish chart pattern- a bearish double top (that may soon become a triple top if the above indicators prove correct).

7. Recent Rally On Low Volume: The rally that began in late August has been on very low volume, which suggests lack of conviction and thus less durability.

Fundamentals Don’t Support A Rally

8. We are heading into the second half of the month, which is lighter on significant news data than would be needed to justify a push past the above strong resistance layers

In addition, there is the overwhelmingly bearish fundamental backdrop:

9. US economic slowdown in every meaningful category: housing prices (where the bear market began), jobs, spending, etc. Even manufacturing, until recently a rare bright spot, has been slowing since the prior Philly Fed report.

10. The ongoing and utterly unsolved EU sovereign debt/banking crisis, with its now periodic eruptions. While we have no major eruptions reported recently, PIIGS sovereign and bank yields and CDS rates remain at May’s crisis levels, a clear indication that markets are very nervous and ready to sell off, as they have over the past weeks on news of Ireland’s latest bank bailout and a Wall Street Journal article on how the EU bank stress tests understated PIIGS bond exposure.

As noted in previous posts, support and resistance must be viewed as zones rather than precise points. The lack of news noted above could allow for continued quiet drift upward to 1140 or even a bit more.

However, that leaves little room to profit for anyone except very short term traders. Others should be planning short trades as the S&P and other risk assets head back down to test support. For the S&P 500 that would be around 1040 in the near term.

DISCLOSURE & DISCLAIMER: NO POSITIONS, THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.’

Philadelphia Manufacturing Index Falls

Foreclosures Rise; Repossessions Set Record CNBC | US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace.

Gold Rises to Record on Increased Demand for Wealth Protection Bloomberg | Gold rose to a record in London and New York as investors sought protection against turmoil in the global economy and financial markets. Silver rose to the highest price since March 2008.

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Regional Manufacturing Still Deteriorating

Despite Range Trading - Prominent Sell Signals Still Alive Simon Maierhofer, On Thursday September 16, 2010, 12:35 pm EDT About a month ago, news about the ominous Hindenburg Omen, terrible September/October and other prominent sell signals were the big buzz around Wall Street. Has the recent rally and range bound trading neutralized or even eliminated the bearish undercurrents? A look at current sentiment would make you think so. Sentiment surveys show that bullishness has soared and optimists are back in control (see chart below).But are the optimists generally right? No. In fact, unfounded optimism is one of the biggest investment traps and most effective bear market tricks. On April 16, the ETF Profit Strategy Newsletter warned that: 'The message conveyed by the composite bullishness is unmistakably bearish. Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again.' When it comes to investing, emotions tend to get in the way of making money. It takes an opportunistic, yet realistic approach to profit in this market.
Parallels Between 2000, 2007, and Today
From a purely analytical point of view, the April ETF Profit Strategy Newsletter examined the 2000 and 2007 market tops and compared them with the 2010 price action, at a time when optimism was soaring sky-high. The parallels between the 2000, 2007 and forming 2010 tops were striking, that's why the newsletter concluded that: 'A comparison between the 2000 and 2007 double tops to the current constellations shows that the market may roll over at any time.' Similar to the January/April 2000 and July/October 2007 double tops, the April 2010 highs were preceded by a lower January top. But the parallels didn't stop there.
Major Tops Followed by Decoy Rallies
Following the initial 2007 decline, the April, May 2008 rally rekindled new hope and pushed the major indexes a la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) briefly above their 200-day moving average (MA). Following the initial April 2010 decline, the July/August rally also pushed the S&P briefly above the 200-day MA. Both, in 2008 and 2010, the indexes were rebuffed by the 200-day MA. The failure to stay above the 200-day MA in May 2008 was followed by a 53.75% decline in the S&P 500. Former performance leaders like the Financial Select Sector SPDRs (NYSEArca: XLF - News) and KBW Bank ETF (NYSEArca: KBE - News) tumbled 79%, the Technology Sector SPDRs (NYSEArca: XLK - News) dropped 49%. Even conservative sectors such as utilities (NYSEArca: XLU - News) and healthcare (NYSEArca: XLV - News) dropped another 35 - 45%. Like a free diver who comes up for air, the market tends to rally to keep investors engaged before the next leg down. The chart below - which plots bullish advisor sentiment against the price of the S&P 500 from June 2007 - September 2010, illustrates the market's cruel habit of spreading hope just before the hammer drops. [chart]
It Happened Before
Since we are talking about prior market tops, we can't help but mention the mother of all sucker rallies, which occurred in 1929/1930. Following the initial 1929 meltdown, the 1930 rally recouped 50% of the previously lost points. Ironically, the 1930 rally ended on April 16. The 2010 counter trend rally ran its course on April 26. In addition to a near identical termination date, the two rallies rekindled the same kind of bullish sentiment. Below are a few headlines and statement from April 1930. Keep in mind that the Dow went on to decline more than 80% thereafter. 'For the immediate future, the outlook is bright' - Irving Fisher, Ph. D. in Economics 'I see nothing in the present situation that is either menacing or warrants pessimism.' - Andrew W. Mellon, U. S. Secretary of the Treasury 'The depression is over' - Herbert Hoover, President If you escaped the market in time, you might be able to read the following April 2010 headlines with a fair shot of humor and realize the irony: 'As job worries ease, will anything stop the stock market?' – CNBC 'Dow 11,000 is only the beginning' - Wall Street Journal 'Check the real estate: It is time to delve in' - Wall Street Journal
It Happened Recently
It's easy to dismiss any parallels to the Great Depression simply because it happened 80 years ago. However, an 80% drop is nothing unusual and has been seen recently. The Nasdaq (Nasdaq: QQQQ - News) peaked in 2000 and tumbled 78.4% within less than two years. Much evidence suggests that the Nasdaq's woes are not yet over with more losses and lower lows on the horizon. Oil prices tumbled 77% after topping at $147.3 a barrel in 2008. Both, the Nasdaq and oil prices topped at a time when higher prices were a foregone conclusion. With regards to oil, the expectation for higher fuel prices moved all major car manufacturers to advertise and build low MPG cars. As soon as their commercials hit TVs, radios, and newspapers across the country, oil and fuel prices started to drop like a rock. Some still dismiss those declines as sector bubbles, not broad market declines.
It Happened to an Entire Country
The Nikkei is Japan's version of the S&P 500 and covers hundreds of stocks. In 1989, the Nikkei topped at 38,946. Since then, it has dropped over 80% to below 8,000 (see chart below, published in the April 2010 ETF Profit Strategy Newsletter). [chart] Throughout this 20-year decline, the Nikkei had eleven rallies of 20% or more and four that were 50% or more. In total, the Nikkei rallied well over 250,000 rally points, yet it remains 76% below its 1989 peak. The decline of Japan's stock market (NYSEArca: EWJ - News) and economy happened amidst a global bull market. Imagine what can happen to the U.S. stock market during a global recession spurred by European (NYSEArca: FEZ - News) debt woes and global stock market (NYSEArca: EFA - News) weakness. It's human nature to rationalize and invent reasons why something can't happen. It's the stock market's nature to prove investors wrong. Based on parallels that aren't farfetched by any means, a follow through of the post 2007 U.S. equity meltdown is more than just a possibility.
Fundamentals, Technicals, Valuations, and History in Agreement
Investing is about putting the odds in your favor. There is no such thing as a 100% certain profit opportunity. However, there are high probability profit opportunities where the odds of having a winning trade are high and the potential reward is much higher than the potential risk. Such high probability profit opportunities occur when as many indicators as possible point in the same direction. Right now, there is a near unanimous consent between fundamental and technical indicators, along with valuations and historic patterns. The latest ETF Profit Strategy Newsletter includes a detailed analysis of various market forecasting tools, along with a short, mid, and long-term outlook for the U.S. stock market and a target range for the ultimate market bottom. Even though the economic outlook is dim, realistic investors can feel optimistic about the opportunities in the months and years ahead.

Census Reveals 45m Americans Living in Poverty One in seven Americans is living below the poverty line, it was revealed yesterday. With 45mn Americans officially designated as poor, the US census figures reflect the worst decline in living standards for more than half a century.

Gold to Surge 50% to ‘Real’ Record? Gold’s resilient trend higher to a record this week has reassured gold bugs and new investors (see ETFs) alike that the metal’s secular bull market is intact and could ultimately approach its inflation-adjusted peak of $1901 in 1980.

Fed Issues More Debt Than It Needs On Friday, September 10, 2010, Horizon Bank, Bradenton, FL was closed by the Florida Office of Financial Regulation and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

August Foreclosures Highest on Record RealtyTrac, an online foreclosure sale site, will release its monthly numbers on Thursday, but sources there confirm the number of repossessions will come in just shy of 100,000 for the month.

Stock Market Goes Into A Coma: Here's What You Need To Know Weisenthal ‘Snooze. Fest. But first, the scoreboard;
Dow: +22.75
NASDAQ: +1.83
S&P 500: -044
And now, the top stories:

Well, there really wasn't very much. Asia was quiet, though China is ominously breaking down. India did do a surprise rate hike.

Europe: quiet.

In the US, the big news was the jobless claims at 8:30 which were better than expected, the Philly Fed, which was worse than expected, and the PPI, which was hotter than expected. None of those releases move the market very much at all.

There was also nothing real big on the macro front. No gigantic currency movies in one way or another.

Volume was very light, and when you combine it with CNBC running its special on high-frequency trading, you gotta figure we're nearing a peak in terms of lack of activity.’

Eco-Fascists Call For Tyranny To Enforce Draconian Agenda Paul Joseph Watson | The ugly face of eugenics peers from behind the mask of environmentalism.

Gold And Silver Hit New Highs For Second Time In One Week Steve Watson | Gold and Silver have once again risen to new highs, with bullion futures soaring close to a record $1,280 an ounce as the dollar fell to a five week low against the euro.

Globalist Foundation Exploits Angry Child to Blame Adults for Fake Climate Change Kurt Nimmo | Boy donning a gangbanger hoodie warns that adults have had their chance to save the earth and now it will be the responsibility of the next generation.

Protest Group Demands Investigation Into Homeland Security Spying Paul Joseph Watson | Latest case follows multi-year trend of authorities being trained to treat peaceful, patriotic Americans as domestic terrorists.

O’Reilly (bill the perve) Says 9/11 Truth Activists Are Dangerous Radicals Kurt Nimmo | Links Muslim scholar and first responder to Ground Zero imam Feisal Abdul Rauf.

White House Science Czar Says He Would Use ‘Free Market’ to ‘De-Develop the United States’ In a video interview this week, White House Office of Science and Technology Director John P. Holdren told CNSNews.com that he would use the “free market economy” to implement the “massive campaign” he advocated along with Population Bomb author Paul Ehrlich to “de-develop the United States.”

Shock Audio: DC Congresswoman Leaves Voicemail Asking For Lobbyist Cash Delegate to Congress for the District of Columbia Rep. Eleanor Holmes Norton leaves voice mail citing her seniority and stimulus-based projects in lobbyist’s “sector”.

U.S. urges Arab states to drop israel nuclear treaty demand Reuters [ Oooooh! Wow! Sounds like a plan! For world conflagration … Another step toward nuclear prone middle east … israel should be exempt because ….. ‘US – Israel’s partner in crime, not a referee’   … You really can’t make this stuff up; the preposterous s* coming out of america! ]The U.S. envoy to the UN atomic watchdog urged Arab states to withdraw a resolution calling on Israel to sign an anti-nuclear arms treaty, warning it would send a negative signal to Middle East peace talks.     Israelis, Palestinians already broaching tough topics in talks, envoy says (Washington Post) ‘US – Israel’s partner in crime, not a referee’ (Infowars.com) Israeli and Palestinian leaders are holding a new round of direct talks.   Bombshell: Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA files that document the agency’s connections to the lives of Barack Obama and his mother, father, grandmother, and stepfather.

`Drudgereport: Doomsday warnings of US apocalypse gain ground... 1 in 7 Americans lives in poverty...`
`50-year high... Foreclosures Rise; Repossessions Set Record...`
`Gold hits new high... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default... MICHELLE IN 'HELL': 'CAN'T STAND' FIRST LADY JOB … (at least there’s some reciprocity) ... BREITBART Shock Audio: Facing 'Obligations' From Leadership, Democrat Congresswoman Leaves Voicemail for Lobbyist Cash...`
`RASMUSSEN: First Post-Primary Poll, Coons winning in Delaware Coons (D) 53% O’Donnell (R) 42%`

O'Donnell's win throws a challenge at the GOP (Washington Post) [ Aw shucks! Change just around the corner say the bipartisan incumbents… change afoot, like wobama’s foot in his mouth / a change … Let’s get real … no real change is a-coming … but ‘hopium’ (previously discussed) is a powerfully addictive drug. Let’s all awake from this hopium induced stupor and read these government frauds the riot act! Defacto bankrupt american politics are getting downright nasty (AP). Ask nancy pelosi, ‘the wicked witch of the west’   ( only a minute, this political ad by John Dennis is well done and very funny) http://albertpeia.com/nancypelosiwickedwitchofthewest.flv . ] By beating their candidate for the Senate seat in Delaware, the tea party sends a message to the Republican establishment: You are not in charge. Frustration with GOP pushed win O'Donnell's win in the Delaware Senate primary reflects voter sentiment toward party elders.

Fed faces tough choices (Washington Post) [ Wow! Mr. ‘wall street-glass-half-full’ has in a phrase ended the financial crisis, though many sure have been fooled into thinking otherwise by that thing called reality … Yes, ‘no-recession helicopter ben b.s. bernanke’ also in a phrase must decide, ‘to print, or not to print much, or much much, or much much much, etc., more worthless Weimar currency colloquially known as the american dollaro. Well, we really know where that one’s going. Shocking CNBC Headline: “Home Price Double Dip Begins” Diana Olick, by far the best reporter at CNBC, and not merely an anchored regurgitator of propaganda bullet points, let one slip today, by posting an article on CNBC titled: “Home Price Double Dip Begins”.    Are poll workers being used to inflate jobs totals? Workers at polling places for today’s primary and November’s general election are being required to file tax withholding forms for the first time ever in a move that could be aimed at inflating the nation’s employment numbers. ] Agency is facing its biggest decision since the end of the financial crisis, confronting a fateful choice this fall whether to take new steps to boost the economy.

U.S. sharpens criticism of China (Washington Post) [ Riiiiight, tiny tim … blame the Chinese for your failed policies, though not exclusively your failed policies … might be good for a 1/32 point shaved from the interest on the gargantuan debt defacto bankrupt america owes them which is still many billons over time so large is the debt. ]Treasury Secretary Tiny TimGeithner signals a tougher line toward China's economic policies, saying that he plans to persuade China to change how it manages its currency and to treat U.S. businesses more fairly.

Stocks' rise defies record (Washington Post) [ Oh come on! The record’s not all that’s being defied; try reason, rationality, etc.. Underestimating the Risks of the Stock Market    Keep in mind, this is an election year and as good as it gets, as bad as it is beyond the spun / fake market-frothing data ] [Babak ‘If you spend enough time trading and studying the markets you realize viscerally that markets tend to fall and fall hard much more than they rise. We got a very good example of this in the 2008 bear market where the S&P 500 index gave back in about 18 months all the gains that had taken it almost 5 years to accumulate (March 2003 to October 2007). The theoretical framework that many people use and that which is still taught in finance classes across the globe continues to assume that returns fall into a normal distribution. While it is useful to know that modern portfolio theory and EMH are flimsy theories with no real world applications, it doesn’t help us to recalibrate our instruments to just how asymmetrical stock returns really are. To get at that answer, the research team at Welton Investments compared the actual distribution of returns from the S&P 500 index over the past 50 years with the expected risk based on a Monte Carlo simulation. The results are shown in the chart below: [ chart Source: Tail Risk ] This study shows that investors continuously and severely underestimated negative returns. In fact, going by rolling quarterly losses of 20% or more, investors experienced 5.3 times more of these “fat tail” events than that accounted for by the expectations based on a normal distribution. That difference is huge! Knowing this historical reality, investors have two choices: either don’t play the game (get out of stocks) or play but have a safety net handy for the inevitable fall …’ ] Defying September's track record of being unkind to investors, the stock market has shot up for the past two weeks as investors have grown less fearful the economy will slip into another recession.

Empire State Manufacturing Falls in September

Technical Resistance: Here We Go Again Hui ‘…The odds seem to favor another downleg for a couple of reasons.
First of all, investor sentiment has gotten incredibly bullish in the space of a couple of weeks, which is contrarian bearish.
More important for the intermediate term, the market is facing a number of macro headwinds of economic weakness starting in 4Q. John Hussman noted in his latest weekly comment [emphasis added]: As I've noted frequently in recent commentaries, the typical lag between deterioration in say, the ECRI Weekly Leading Index and the ISM Purchasing Managers Index is about 13 weeks, and sometimes longer. The typical lag with respect to new claims for unemployment is about 23-26 weeks (which puts the likely window of deterioration at about the October - November time frame), and the typical lag with respect to the payroll unemployment report is, not surprisingly, about 4 weeks beyond that.
Uber-bear Albert Edwards put it more bluntly:The current situation reminds me of mid 2007. Investors then were content to stick their heads into very deep sand and ignore the fact that The Great Unwind had clearly begun. But in August and September 2007, even though the wheels were clearly falling off the global economy, the S&P still managed to rally 15%! The recent reaction to data suggests the market is in a similar deluded state of mind. Yet again, equity investors refuse to accept they are now locked in a Vulcan death grip and are about to fall unconscious…’

The Dow Is Overbought on Its Daily Chart

To Dip or Double-Dip? Janjigian There has been a lot of talk lately about whether or not we will have a double-dip recession. I have long been in the camp that says a double-dip is a real possibility. I believe the probability for a second recession is higher now than it was last March. But how does one actually assign a number to this probability? The economists Nouriel Roubini and Martin Feldstein are perhaps the most bearish on the economy. They say the chances of a second recession are about one in three. This means they believe that if the economy were to experience the same exact conditions it is experiencing now hundreds of times, one-third of those times would result in a recession. Another way to look at is that the probability that we will not have a second recession is about 67%. In other words, even the most bearish economists believe there is a much better chance that we will avoid a second recession than there is that we will actually have one … [ Hey, come on! If they only were the most bearish on the economy … Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

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). ]

Industrial output growth slows (Reuters) WASHINGTON (Reuters) – ‘U.S. industrial output slowed last month and a regional measure of factory activity touched a 14-month low in September, pointing to a cooling in manufacturing as the boost from an inventory build-up fades. The reports on Wednesday were consistent with other data suggesting the U.S. economy is stuck in a soft spot, but they also showed the manufacturing sector continued to expand and offered nothing to suggest a new recession was brewing. "We have a sharp slowdown, but that doesn't look like it's going to develop into an outright collapse," said Paul Ashworth, senior U.S. economist at Capital Economics in Toronto. Industrial production rose 0.2 percent in August, Federal Reserve data showed, matching economists' forecasts for a sharp slowdown from July when unusually strong auto manufacturing lifted output. July's gain was revised down to 0.6 percent from 1 percent …’

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Six in 10 Canadians live pay to pay Globe and Mail | Fifty-nine per cent of Canadian workers say they would be in financial trouble if their paycheque was delayed by just a week.

IMF fears ‘social explosion’ from world jobs crisis Telegraph | America and Europe face the worst jobs crisis since the 1930s and risk “an explosion of social unrest” unless they tread carefully, the International Monetary Fund has warned.

Shocking CNBC Headline: “Home Price Double Dip Begins” Diana Olick, by far the best reporter at CNBC, and not merely an anchored regurgitator of propaganda bullet points, let one slip today, by posting an article on CNBC titled: “Home Price Double Dip Begins”.

Are poll workers being used to inflate jobs totals? Workers at polling places for today’s primary and November’s general election are being required to file tax withholding forms for the first time ever in a move that could be aimed at inflating the nation’s employment numbers.

Currency Intervention, Bitches After a six year wait, the BoJ has finally had enough of the Federal Reserve’s endless manipulation and has itself intervened in the currency market.

Where Are The Jobs? Most Americans don’t really care about the economic minutiae that many of us who study the U.S. economy love to pour over.

‘US – Israel’s partner in crime, not a referee’ Israeli and Palestinian leaders are holding a new round of direct talks.

Defacto bankrupt american politics are getting downright nasty. Ask nancy pelosi, ‘the wicked witch of the west’   http://albertpeia.com/nancypelosiwickedwitchofthewest.flv .

Justice Breyer Suggests “Globalization” Trumps First Amendment Supreme Court Associate Justice Stephen Breyer was indecisive when answering a question about whether or not Pastor Terry Jones’ proposed Koran burning was protected by free speech, suggesting that “globalization” now trumps the First Amendment in the eyes of lawmakers.

Let’s Raise Taxes, Greenspan Tells CFR “I am in favor for the first time in my memory [What memory? Incompetent greenspun is senile! ] of raising taxes,” Greenspan told an audience at the Council on Foreign Relations in New York.

Government Bans Tea Party From Celebrating U.S. Constitution Local government representatives in an Ohio town have taken it upon themselves to prohibit a Tea Party celebration of the US Constitution, prompting a lawsuit over restrictions on First Amendment rights.

Globalist Soros Declares “Gold Is The Ultimate Bubble”… Again Billionaire globalist George Soros wants you to think that investing in Gold is “unsafe” and that the rallies the precious metal has seen in the wake of the economic implosion are abnormal.

Police Continue to Harass Citizens Who Record Them A number of cases show how police continue to misunderstand citizens’ rights to record their behavior, and they’re now neatly compiled into a video from the Cato Institute.

Anti-Establishment Fervor A Hammer Blow To Washington Elite Amidst the defeat two more establishment Republicans by Tea Party candidates last night, a new Rasmussen poll shows that anti-incumbent challenger Sharron Angle is now tied with Democratic Senate Majority Leader Harry Reid, and stands a good chance of ousting him in November, which would represent a massive blow to the Washington elite.

Karl Rove: Defender of Forever War and a Devastating National Debt Kurt Nimmo | Rove loathes Christine O’Donnell because she represents political change in Washington — and that must be halted at all cost.

Secretive Executive Order Establishes ‘Big Brother’ Health Bureaucracy Eric Blair | Obama quietly signed an Executive Order that some claim lays the foundation for implementing Codex Alimentarius.

Bill Gates Death Panels Tip of Iceberg Paul Joseph Watson, Kurt Nimmo & Alex Jones | Gates in cahoots with the Rockefellers and the bioethics movement to deny health care to Americans.

Anti-Establishment Fervor A Hammer Blow To Washington Elite Paul Joseph Watson | Waiting for an October surprise: The system is cornered, desperate, and dangerous.

Pennsylvania Homeland Security Puts Anti-tax Protesters On List of Terror Threats Kurt Nimmo | Pennsylvania’s Democrat governor Ed Renell says he is “deeply embarrassed” by the disclosure.

`Drudgereport: Doomsday warnings of US apocalypse gain ground... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default... NYC Disaster On Primary Day; Machine Glitches Cause Chaos...`
`Bloomberg Blasts...`
`Feds probing... US troops continue combat missions in Iraq, despite Obama's end-of-war speech... Poll workers being used to inflate jobs totals? Retirement on Hold: American Workers $6 Trillion Short...`

`REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...`
`Paul says GOP shares blame for deficits...`
`Kerry flip-flops on tax cuts...`

`Muslims protest Quran-burning plan...`
`Florida pastor calls it off...`
`Christians rip pages from Muslim holy book in front of White House...`
`Man ignites Quran near Ground Zero...`
`VIDEO...`
`Mosque opponents, supporters face off in downtown NYC...`
`OBAMA: 'We are not and never will be at war with Islam'...`

`'Tea party' favorites score in DE, NY...`
`Establishment Freaks...`
`'One nation under revolt'...`
`Christine Smacks Rove: 'So-Called Political Guru'...`
`CASH POURS IN FOR O'DONNELL; $500,000 IN ONE DAY...`
`Upsets...`
`RESULTS...`
`WIRE...`
`IN: RANGEL SURVIVES CHALLENGE...`
`OUT: DC MAYOR VOTED DOWN IN UPSET...`
`HANGING: DINGELL WARNS DONORS HE COULD LOSE...`
`Dems gamble by shifting fire to Boehner...`
`Bill Clinton: New-look GOP makes Bush look liberal!`
`POLL: Only 25% of public trusts gov't...`
`The Crash, Obama and Disappearing Dem Majority...`

Jobless strain Social Security's disability program (Washington Post) [ Jobless? Strain? Disability? If only that were the only problem for the debacle that will be called ‘social security’. Indeed, even at full employment, those worthless iou’s will still be worthless as this typical capital hill political math project will eventually, as with ponzi schemes generally, end very badly. ]

More banks missing TARP dividend payments [ Isn’t it true as never before in the short history of defacto bankrupt america, that nothing succeeds in america quite like a lack of success? ] Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013 …]

Pearlstein: A bold new breed of bank regulators (Washington Post) [ Wow! Gee! I had always viewed Mr. Pearlstein as a grounded kind of guy. You know … somewhat realistic … I guess I was wrong ‘cause who’s kidding whom? Criminal prosecutions, jail, fines, and disgorgement are the only way to maximize regulatory effectiveness, presently and prospectively. As of now, it pays for the predisposed frauds to take what currently is miniscule chance of prosecution for what have been and remain huge personal and corporate gains.   Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud allegations that have emerged over the past year are not restricted to a few bad apples at shady companies — they involve some of the largest players in global finance. Finance groups: Long transition to ease new bank rules (Washington Post) [ Basel’s all the rage … Riiiiight! Bonkers for Basel, the thing in rally vogue this day … but, not Basil as in Basil Rathbone of super sleuth Sherlock Holmes film fame who’d make short shrift of this fraudulent wall street contagion that has swept over Europe in a manner to rightfully earn the moniker ‘eventual black Friday plague’ … and then there’s the ‘higher oil price’ part of the suckers’ rally. We can certainly expect Rosanne Rosanna Danna formerly of SNL fame, as night follows the day, to chime in with a reminder as her mama always used to say, ‘it’s always something’ … but unfortunately, that somethin’ is not reality. YAHOO [BRIEFING.COM]: ‘Broad-based buying on the back of Basel III boosted stocks to their fourth straight gain, or seventh advance in eight sessions. Still, participation remained unimpressive ... ‘ AP Business Highlights ‘… Banks get years to adjust to new global rules   BASEL, Switzerland (AP) -- Bankers and analysts said new global rules could mean less money available to lend to businesses and consumers, but praised a decision to leave plenty of time -- until 2019 -- before the financial stability requirements come into full force’ ] The requirements adopted by the Basel Committee on Banking Supervision fall short of what's needed to prevent another financial crisis. ]

Asian sites' protection urged to save tigers (Washington Post) [ This is clearly a noble task of the highest order that will effect returns manyfold in the most positive sense for this increasing small and troubled world. ] Just 42 sites across Asia, ranging from temperate forests to tropical grasslands, are key to the survival of one of the world's most iconic, and feared, wild cats - the tiger.

Buried Alive - Prominent Sell Signals

Is the Stock Market Safe? [ This time the consensus is correct, in a ‘fish in a barrel’ kind of way! ]‘In a word, no. That’s the general consensus found in a survey of individual investors done by AP and CNBC this week. As if dealing with two major bear markets since the turn of the century wasn’t enough, all the talk about high frequency trading and the May 6th "Flash Crash" seems to have pushed individual investors over the edge in terms of their comfort level with the stock market. In fact, according to an AP/CNBC poll, 55% of those surveyed believe the stock market is fair only to some investors. The bottom line of this particular survey is that investors are now wary about the idea of using the stock market as a way to invest for retirement. Instead, the survey found that the vast majority of individual investors continue to pump unprecedented amounts of money into what many believe is the most overvalued asset class on the planet – government bonds. One result of the 10-plus year secular bear market in stocks is the gradual erosion of the public’s interest and confidence in stocks as an investment. Of course this HAS happened before. Anyone recall the 1982 cover of Time magazine with the title “The Death of Equities?” Although the cyclical bull market that began in March 2009 remains intact, the public has been pulling money out of the market on a monthly basis. Since January 2008, the Investment Company Institute reports that a total of $244 billion has been withdrawn from US equity funds. Yet at the same time, a total of more than $589 billion has poured into US bond mutual funds, which is an unparalleled amount. It appears that the "Flash Crash" may have been the straw that broke the camel’s back. For example, in the 11 weeks prior to May 6th the public pumped a strong $26.6 billion into equity mutual funds. This is hardly surprising since during that time the market was rising steadily and had gained more than 70% in the past 12 months. However, in the 16 weeks since the "Flash Crash," investors have been running scared. In fact, Investment Company Institute reports that the public has pulled money out of US equity funds each and every week since, with cumulative withdrawals now totaling $55.9 billion. Thus, it would appear that the market’s recent volatility has caused the investing public to lose confidence in the market. The AP/CNBC poll found that 61% of those surveyed felt the volatility has made them less confident about buying and selling stocks. There is also a widespread perception is that the market is rigged or unfair to the little guy. Nearly 90% of the survey respondents whose portfolios are less than $50,000 said the market is unfair to small investors. In addition, the public doesn’t seem to have much faith in the administration to fix the situation in the market. The poll found that just 8% expressed strong confidence in federal regulators while 50% expressed little-to-no confidence in those tasked with overseeing the markets. Does this mean it is time to give up on the stock market as an investment vehicle? We would respond with a resounding “no!” The trick is to understand that the game has changed. After an 18-year bull market, the tide has turned. As such, investors actually have to do something besides putting money into any old mutual fund and closing their eyes. Disclosure: No positions’ [Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.

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). ]

Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud allegations that have emerged over the past year are not restricted to a few bad apples at shady companies — they involve some of the largest players in global finance.

Hatzius: The Risks Are Still to the Downside

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Six in 10 Canadians live pay to pay Globe and Mail | Fifty-nine per cent of Canadian workers say they would be in financial trouble if their paycheque was delayed by just a week.

IMF fears ‘social explosion’ from world jobs crisis Telegraph | America and Europe face the worst jobs crisis since the 1930s and risk “an explosion of social unrest” unless they tread carefully, the International Monetary Fund has warned.

‘The Great American Stickup’: It Was The Economy, Stupid It is not conspiratorial but rather accurate to suggest that blame can be assigned to those who consciously developed and implemented a policy of radical financial deregulation that led to a global recession.

John Williams Sees The Onset Of Hyperinflation In As Little As 6 To 9 Months As Fed “Tap Dances On A Land Mine” John Williams, arguably one of the best trackers of real, unmanipulated government data via his Shadow Stats blog, has just released a note to clients in which he warns that hyperinflation may hit as soon as 6 to 9 months from today.

Will the Basel III Bank Regulations Change Anything? The much-trumpeted Basel III increase in capital requirements will not be fully phased in until 2019.

Three Powerful Trends Will Push Gold Prices To $1600 UniCredit has upgraded their target price for gold from $1,250 to $1,600 by the end of 2012. The reason for the upgrade is based on three powerful trends: the fear over “money printing” at the Fed (QE), the idea that the Euro sovereign debt crisis represents a condemnation of fiat money and increasing demand for gold from China.

The Real Story Behind Bill Gates And “Death Panels” Bill Gates’ advocacy for “death panels” has caused controversy amongst conservative commentators, but the real outrage behind the story has been completely overlooked – the fact that Gates is a hardcore eugenicist and has called for lowering the global population through vaccines which his foundation funds to the tune of billions.

Ex-CIA Agents Confirm Torture at Polish Black Site Former CIA agents have confirmed rumors that the agency tortured terror suspects at a detention center in Poland. One agent allegedly held a drill to a prisoner’s head while he was naked and hooded.

Blair’s Journey: US medal for ‘war criminal’? Former British Prime Minister Tony Blair will receive a prestigious American medal for human rights work. But in his ten years as premier, Blair went from huge popularity to being called a U.S. poodle. His policies in Iraq and Afghanistan earned him accusations of having blood on his hands. And as Laura Emmett reports, many are outraged at his latest award.

Big Sis To Get Expanded Role In Policing Internet Two cybersecurity bills that would hand President Obama the power to shut down parts of the Internet in the event of a national emergency have now been merged into a single unified piece of legislation that Democrats will try to pass before the end of the year, with the Department of Homeland Security being given a larger role in policing the world wide web.

Peace Activist Cindy Sheehan: “I am A 9/11 Truther” Cindy Sheehan, the anti-war activist who lost her son to the ongoing war in Iraq, delivered an impassioned and emotional speech during which she specifically addressed concerns over the 9/11 attacks and stated that she believes they were orchestrated by elements of the U.S. government for political gain.

Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War Party Soros and crew want to get out the vote at all cost, even if they have to exploit kids.

Gold and Silver Explode as Banksters Abandon Market Manipulation Gold has surged to a new high as the prospect of inflation reared its ugly head in the United Kingdom on bad news from a report indicating a weaker-than-expected eurozone industrial production. Germany and France, despite sovereign debt fears, have been able to manage anemic growth but today’s data signals a slow down.

Allegation: Americans Flooded Out Millions in Pakistan to Protect U.S. Drone Military Base Feryal Ali Gauhar served as a Goodwill Ambassador for the United Nations Population Fund and is the only UN Goodwill Ambassador who quit over the invasion of Iraq.

The Biocratic Utopians Part I: Prussian Grenadiers Jurriaan Maessen | The ambition of the biocrats is to create a “superior” class of men.

Gold and Silver Explode as Banksters Abandon Market Manipulation Kurt Nimmo | Gold traded as high as $1,261.90 on Tuesday.

Big Sis To Get Expanded Role In Policing Internet Paul Joseph Watson | Democrats want “Kill Switch” bill passed this year.

Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War Party Kurt Nimmo | The Twitter crowd needs to know that the health of the state is perpetual war.

Expanding U.S.-Canada Security and Economic Partnership Dana Gabriel | NAFTA partners are pursuing a more bilateral agenda for advancing continental integration.

`Drudgereport: 'Tea party' favorites lead in NH, Delaware...`
`Establishment Freaks...`
`Upsets...`
`RESULTS...`
`WIRE... Doomsday warnings of US apocalypse gain ground... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default...`

`REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...`
`Paul says GOP shares blame for deficits...`
`Kerry flip-flops on tax cuts...`

`Muslims protest Quran-burning plan...`
`Florida pastor calls it off...`
`Christians rip pages from Muslim holy book in front of White House...`
`Man ignites Quran near Ground Zero...`
`VIDEO...`
`Mosque opponents, supporters face off in downtown NYC...`
`OBAMA: 'We are not and never will be at war with Islam'...`

Finance groups: Long transition to ease new bank rules (Washington Post) [ Basel’s all the rage … Riiiiight! Bonkers for Basel, the thing in rally vogue this day … but, not Basil as in Basil Rathbone of super sleuth Sherlock Holmes film fame who’d make short shrift of this fraudulent wall street contagion that has swept over Europe in a manner to rightfully earn the moniker ‘eventual black Friday plague’ … and then there’s the ‘higher oil price’ part of the suckers’ rally. We can certainly expect Rosanne Rosanna Danna formerly of SNL fame, as night follows the day, to chime in with a reminder as her mama always used to say, ‘it’s always something’ … but unfortunately, that somethin’ is not reality. YAHOO [BRIEFING.COM]: ‘Broad-based buying on the back of Basel III boosted stocks to their fourth straight gain, or seventh advance in eight sessions. Still, participation remained unimpressive ... ‘ AP Business Highlights ‘… Banks get years to adjust to new global rules   BASEL, Switzerland (AP) -- Bankers and analysts said new global rules could mean less money available to lend to businesses and consumers, but praised a decision to leave plenty of time -- until 2019 -- before the financial stability requirements come into full force ...’ ]Critics caution, however, that the requirements adopted by the Basel Committee on Banking Supervision fall short of what's needed to prevent another financial crisis.

Cuba to cut 500,000 workers, reform salaries (Washington Post) [ Boy, when Castro said communism wasn’t working for them anymore, he wasn’t kidding! No gloating for defacto bankrupt, pervasively corrupt america which is a far cry from capitalism and but a whisper from collapse itself.]

Banks miss TARP payments (Washington Post) [ Sounds like a plan! … Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013 … (see rest of article infra)]

Economy's fallout (Washington Post) The fallout of a troubled economy [ I’m sorry to say that … you ain’t seen nothing yet … much worse to come! ]From foreclosure to food shortages, the recession set in motion by the financial crisis of 2008 is having a broad and deeply-felt global impact.

Doomsday warnings of US apocalypse gain ground AFP | Economists peddling dire warnings that the world’s number one economy is on the brink of collapse.

A subtler tack to fight Afghan corruption? (Washington Post) [ How about a not so subtler tack to fight corruption starting right here in the u.s. of a. where corruption and crime are pervasive and in fact, at the root of the Afghanistan problems, from american reinvigorated heroin trade to bribery attendant thereto to killing civilians, etc.. Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations … in crime:

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY SHOWING LATEST AVAILABLE DATA (america’s No. 1).

Rank

Countries

Amount

# 1

United States:

11,877,218

# 2

United Kingdom:

6,523,706

# 3

Germany:

6,507,394

… ]

Doomsday warnings of US apocalypse gain ground AFP | Economists peddling dire warnings that the world’s number one economy is on the brink of collapse.

Why New Bank Capital Rules Could Make Things Worse CNBC | Early reports suggest the required levels of capital will be much lower than feared, and the kinds of assets that can be used to meet the requirements more expansive than earlier proposals suggested.

Economic Docs Find Remedy Amid Bubble Rubble Even the most casual observer of the events of the last five years — the housing bubble, the bust and the digging-out process — would be struck by the similarities between the policies that got us into this mess and the prescriptions for getting us out.

World Panel Backs Rules to Avert Banking Crises Top central bankers and bank regulators agreed Sunday on far-reaching new rules for the global banking industry that are designed to avert future financial disasters, but could also dampen bank profits and strain weaker institutions.

Tim Geithner Warns: The US Is At Risk Of A 1930s Repeat If the government become paralyzed — as is arguably the case already, and is clearly a serious risk should the GOP take over — the US risks a 1930s-like scenario. At least according to Tim Geithner.

M2 Surges By $30 Billion In Past Week To Highest Ever, Even As Monetary Base Declines Another week in which the M2 jumped to a fresh all time high, increasing by $30 billion W/W to just under $8.7 trillion.

Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013.

The failed bank was publicly-traded Horizon Bank (HZNB.OB), which had huge overexposures to C&D and CRE loans with risk ratios of 358% and 1769% versus the ignored regulatory guidelines of 100% and 300% of risk-based capital. The commitment pipeline of commercial real estate loans was 99% funded as “extend and pretend” caused this failure. The consolidator bank has been used before by the FDIC; Bank of the Ozarks (OZRK) which has a HOLD rating according to ValuEngine.

Here are some statistics from the FDIC for the Second Quarter 2010: There were 45 bank failures in the second quarter, and we ended the quarter with the number of FDIC-insured financial institutions declining to 7,893, of which 1306 are publicly-traded.

· 1172 of all community banks (14.8%) are overexposed to Construction & Development Loans.

· 1432 or 18.1% are overexposed to Nonfarm / Nonresidential real estate loans.

· 2504 or 31.7% are thus overexposed to Commercial Real Estate loans.

· 1317 or 16.7% have a real estate loan pipeline that’s 100% funded.

· 2622 or 33.2% have a pipeline that’s between 80% and 100% funded.

· 3939 of 49.9% of all banks have a pipeline that’s 80% or more funded. So half the community banks in America remain overleveraged to Commercial Real Estate and the possible losses remain about $1.5 trillion.

Publicly-Traded Banks:

· 293 of the 1306 publicly-traded banks are overexposed to C&D loans

· 394 are overexposed to Nonfarm / Nonresidential real estate loans.

· 687 or 52.6% of the publicly-traded banks are thus overexposed to Commercial Real Estate loans. We publish this list as the ValuEngine List of Problem Banks.

· 234 publicly-traded banks have a real estate loan portfolio that’s 100% funded.

· 463 have a real estate loan portfolio between 80% and 100% funded.

· 697 thus have significant real estate loan pipeline stress.

Problem Banks at the end of the Second Quarter versus the First Quarter:

·         Given the waves of bank failures the total assets among the 686 Publicly-Traded Problem Banks declined to $135.9 billion from $164.7 billion in the first quarter. C&D loans declined to $12.7 billion from $16.4 billion with a CRE loan pipeline steady at 78.1% versus 78.0%.

·         Assets among the 91 Deadbeat Banks, (those in arrears on making TARP dividend payments), totals $99.9 billion with C&D loans at $10.9 billion and a CRE pipeline of 80.9%.

·         Assets among failed publicly-traded banks increased to $122.5 billion from $116.7 billion in the first quarter. C&D loans increased to $22.3 billion from $21.5 billion. The CRE loan pipeline increased a tick to 90.4% from 90.3%.

Assets among banks with a CRE pipeline of 80% or more funded increased to $3.84 trillion including $121.3 billion in C&D loans. The average pipeline for 3939 banks is 92.0%. Among this list are four big banks that will likely see waves of write-offs in upcoming quarters.

·         JP Morgan Chase (JPM) with $1.72 trillion in assets has a pipeline of 80%.

·         SunTrust Banks (STI) has $160.5 billion in assets with an 83% pipeline.

·         BB&T Corp (BBT) has $149.2 billion in assets with an 84% pipeline.

·         Fifth Third Bank (FITB) has 100.0 billion in assets with an 84% pipeline.

Disclosure: No positions’

U.S. Trade Deficit Still Growing

Why New Bank Capital Rules Could Make Things Worse CNBC | Early reports suggest the required levels of capital will be much lower than feared, and the kinds of assets that can be used to meet the requirements more expansive than earlier proposals suggested.

Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 Matthias Chang | Quantitative Easing spearheaded by the Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations … in crime:

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY SHOWING LATEST AVAILABLE DATA (america’s No. 1).

Rank

Countries

Amount

# 1

United States:

11,877,218

# 2

United Kingdom:

6,523,706

# 3

Germany:

6,507,394

# 4

France:

3,771,850

# 5

Russia:

2,952,370

# 6

Japan:

2,853,739

# 7

South Africa:

2,683,849

# 8

Canada:

2,516,918

# 9

Italy:

2,231,550

# 10

India:

1,764,630

# 11

Korea, South:

1,543,220

# 12

Mexico:

1,516,029

# 13

Netherlands:

1,422,863

# 14

Poland:

1,404,229

# 15

Argentina:

1,340,529

# 16

Sweden:

1,234,784

# 17

Belgium:

973,548

# 18

Spain:

923,271

# 19

Chile:

593,997

# 20

Thailand:

565,108

# 21

Ukraine:

553,594

# 22

Austria:

552,411

# 23

Finland:

520,194

# 24

Denmark:

491,026

# 25

New Zealand:

427,230

# 26

Hungary:

420,782

# 27

Czech Republic:

372,341

# 28

Zimbabwe:

351,153

# 29

Norway:

330,071

# 30

Romania:

312,204

# 31

Switzerland:

307,631

# 32

Turkey:

286,482

# 33

Morocco:

283,702

# 34

Venezuela:

236,165

# 35

Portugal:

218,360

# 36

Colombia:

214,192

# 37

Malaysia:

167,173

# 38

Peru:

161,621

# 39

Bulgaria:

148,915

# 40

Uruguay:

134,010

# 41

Belarus:

132,867

# 42

Tunisia:

130,375

# 43

Slovakia:

107,373

# 44

Greece:

102,783

# 45

Croatia:

101,853

# 46

Lithuania:

92,646

# 47

Philippines:

85,776

# 48

Saudi Arabia:

84,599

# 49

Slovenia:

81,697

# 50

Ireland:

81,274

# 51

Hong Kong:

80,592

# 52

Iceland:

60,242

# 53

Zambia:

59,426

# 54

Estonia:

57,799

# 55

Latvia:

49,329

# 56

El Salvador:

44,762

# 57

Costa Rica:

40,263

# 58

Jamaica:

39,188

# 59

Kyrgyzstan:

38,620

# 60

Moldova:

36,302

# 61

Mauritius:

35,943

# 62

Bolivia:

31,138

# 63

Luxembourg:

26,046

# 64

Yemen:

24,066

# 65

Panama:

21,058

# 66

Macedonia, The Former Yugoslav Republic of:

19,814

# 67

Kuwait:

19,350

# 68

Burma:

18,301

# 69

Malta:

17,023

# 70

Azerbaijan:

15,520

# 71

Georgia:

15,029

# 72

Papua New Guinea:

13,292

# 73

Cyprus:

13,023

# 74

Armenia:

12,048

# 75

Oman:

11,782

# 76

Nepal:

8,872

# 77

Dominica:

7,857

# 78

Maldives:

7,026

# 79

Qatar:

5,838

# 80

Albania:

5,303

# 81

Seychelles:

4,297

# 82

Montserrat:

751

Total:

63,531,202

Weighted average:

774,770.8

DEFINITION: Note: Crime statistics are often better indicators of prevalence of law enforcement and willingness to report crime (I believe, and facts support, crime in america to be substantially under-reported and under-prosecuted owing to pervasive corruption, arbitrary enforcement of the law, etc.) than actual prevalence.

SOURCE: The Eighth United Nations Survey on Crime Trends and the Operations of Criminal Justice Systems (2002) (United Nations Office on Drugs and Crime, Centre for International Crime Prevention)

The New Terrorist Threat To America: Drunk British Teenagers Brandishing Insults Steve Watson | College student banned from US for life for name calling email to White House. I’m sure he’s crying both night and day … you know, from prospective loss of that new global roach motel (once you go in, you never come out); viz., the disunited states of america; and wow, talk about thin skin; who can’t think of far worse to call wobama; and then, there’s the real terror threat.

Big Sis Iris Scanners: The Prison Without Bars Paul Joseph Watson | Americans will be forced to prove they are well-behaved serfs to be able to do anything.

Dick Gregory Announces Hunger Strike for 9/11 Truth Dick Gregory | I am announcing today that I will be consuming only liquids beginning Sunday until my eightieth birthday in 2012 and until the real truth of what truly happened on that day emerges and is publicly known.

9/11 – State of Emergency: An Era of Madness and Despair The Excavator | All the freedoms of the American people that are being stripped by the U.S. government under national emergency are rationalized because of the terrorist attacks on September 11.

Doomsday warnings of US apocalypse gain ground Economists peddling dire warnings that the world’s number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.

Greek Default: Why It’s Only A Matter Of Time Is Greek default only a matter of time? According to the Council on Foreign Relations that’s the story the bond market is currently telling us.

Zionists are behind Quran desecration: Iran FM Iranian Foreign Minister Manouchehr Mottaki has described the Quran-burning plan as a Zionist-orchestrated scheme.

Google ‘damages users’ brains’ Google damages the brains of its users by offering too much assistance in solving problems, an author has claimed.

Feds Spent $800,000 of Economic Stimulus on African Genital-Washing Program The National Institute of Mental Health (NIMH), a division of the National Institutes of Health (NIH), spent $823,200 of economic stimulus funds in 2009 on a study by a UCLA research team to teach uncircumcised African men how to wash their genitals after having sex.

Ground Zero Mosque Controversy: A CIA Orchestrated Event Kurt Nimmo | The Ground Zero mosque event was designed to reinvigorate the manufactured Global War on Manufactured Terror.

Obama Touts Inefficient Program to Defend Stimulus: $1.4m per Green Job Created Activist Post | Only 390 jobs were created from the $548 million taxpayer investment, or about $1.4 million per job.

British troops in Afghanistan face heroin smuggling probe British military police are investigating claims that the country’s servicemen may have, with the americans, trafficked heroin out of Afghanistan, the Ministry of Defence in London said Sunday.

United States Joint Forces Command Warns that Huge U.S. Debt Will Lead to Military Impotence, Default or Revolution [ Little bit late for that … the warning thing! ] American military and intelligence leaders say that debt is the main national security threat to the U.S.

Korans vandalized in New York, Washington on 9/11 anniversary Two religious leaders at a recently-founded offshoot of the Baptist church burned Korans in a Tennessee back yard on the anniversary of the 9/11 attacks, reports the NBC affiliate in Nashville.

September 11 anniversary marked by noise and recrimination The September 11 anniversary is usually a day of quiet reflection. But this year the furore over plans for a mosque near Ground Zero led to a day of noise and recrimination.

Nine Years After 9/11, Only 1% See Terrorism as Top U.S. Problem Nine years after the terrorist attacks of Sept. 11, 2001, 1% of Americans mention terrorism as the most important problem facing the country, down from 46% just after the attacks.

Nine years, two wars, hundreds of thousands dead – and nothing learnt Did 9/11 make us all mad? Our memorial to the innocents who died nine years ago has been a holocaust of fire and blood.

When Will the Bad Dream End? Anthony Gregory | It has been nine whole years since 9/11, and it is starting to look like the “post-9/11″ insanity has become a permanent feature of the American landscape.

The Silence of September 11 Infowars.com | Silence has followed ever since the attack and continues until this day, as Peter Dale Scott explains.

Wikileaks to Release Massive Document Collection on Iraq War Ahmad F Al-Shagra | The Iraq War report is larger than the Afghan War documents made available for advance review to The New York Times, The Guardian, and Der Spiegel.

Pastor at centre of Koran-burning controversy flies to New York for September 11th The pastor who planned to burn Korans on today’s ninth anniversary of the September 11th attacks has flown to New York to challenge the controversial proposed Islamic centre close to the Ground Zero site.

Koran-burning pastor ‘has gone mad’ and ‘needs help,’ daughter says The estranged daughter of a Florida pastor who has threatened to burn copies of the Koran believes he has gone mad and needs help, she said in a German media interview conducted on Friday.

DHS: Another Attack Could Be On The Way “We can’t guarantee there won’t be another successful terrorist attack,” Napolitano will tell first responders and emergency workers.

We have failed, admits UN, as fresh wave of Congo rapes emerges The United Nations has been urged to go back to basics in protecting civilians in Eastern Congo after admitting that 500 rapes in the space of a single month amounted to a serious failure in its mission.

9 Years Later, Nearly 900 9/11 Responders Have Died, Survivors Fight for Compensation The victims of 9/11 are being remembered in many places around the world, Russia among them. Dozens have come to lay flowers at the US Embassy in the Russian capital.

“We’re dead men walking”: The toxic legacy of 9/11 More than 10,000 Ground Zero workers – known as “first responders” – are suffering from serious and even fatal illnesses after inhaling the toxic dust cloud caused by the crumbling towers.

Firefighter battles cancer he got from 9/11 toxins Nine years after the attacks of 9/11, many heroes from that day are still fighting for their lives. One of them is a firefighter, who is struggling to stay alive for his family.

Compensation for 9/11 First Responders to Be Revisited in Congress With the nine-year commemoration of the Sept. 11 terrorist attacks on the World Trade Center approaching on Saturday, thousands of victims, many of whom risked their lives to save others, are speaking out and saying that the government has abandoned them in their time of need.

9/11 responders demand justice Last month RT filmed this emotional footage of 9/11 first responders pouring their hearts out at a speech just blocks away from where the twin towers fell. The rally was in response to Congress defeating a federal bill that would have provided billions of dollars in health care for those sickened by toxins released by the collapse of the World Trade Center towers Sept. 11, 2001.

America’s Torture Doctrine John Galt | We idolize torturers in our favorite TV programs, and are happy to see our enemies (real and imagined) vicariously taken apart in order to protect our beacon of freedom.

The Anniversary of 9/11 Washington’s Blog | If even the 9/11 Commissioners don’t buy the official story, why do you?

`Drudgereport: Doomsday warnings of US apocalypse gain ground... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default...`

`REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...`
`Paul says GOP shares blame for deficits...`
`Kerry flip-flops on tax cuts...`

`Muslims protest Quran-burning plan...`
`Florida pastor calls it off...`
`Christians rip pages from Muslim holy book in front of White House...`
`Man ignites Quran near Ground Zero...`
`VIDEO...`
`Mosque opponents, supporters face off in downtown NYC...`
`OBAMA: 'We are not and never will be at war with Islam'...`

Unemployment Claims Not as Bullish as They Seem (Why?   Kudrna:‘The Labor Department reported Thursday morning that new claims for unemployment dropped a seasonally adjusted 27,000 to 451,000. Unexpected bullish news, right? The markets immediately gapped-up on this information as the bulls found good reason to buy. Unexpected positive news is almost always met with a bullish move north as it’s rarely priced in. However, a useful tidbit of information about that shockingly large drop came out after the gap-up. Bloomberg reported that nine states didn't file claims data to the Labor Department in Washington because of the Labor Day holiday earlier this week. California and Virginia estimated their figures and the U.S. government estimated the other seven. Coincidence in the large drop or not? We will see when the next revision comes out but usually those revisions fail to make headlines as we are already focusing on future claims. This has been a great cover-up method for a long time…’

How Government Reporting Will Intensify the Inevitable Simon Maierhofer, On Friday September 10, 2010, 12:41 pm EDT ‘Natural carbonation keeps a champagne bottle under constant pressure. The more you shake the bottle, the higher the pressure gets and the further the cork will eventually fly. Figuratively speaking, the government has been shaking the bottle. Watch out when the cork pops. On August 10, the Associated Press reported that the Federal Reserve has found a new trick to jumpstart the economy. Below is the full quote that shows why we probably can't expect unbiased assessments coming out of Washington, or the Fed's corner: 'The Federal Reserve policymakers are pondering ways to jumpstart the economic recovery. The trick: making sure whatever they do or say doesn't rattle Wall Street.' Some of the recent government statistics have been 'interesting' no doubt, and we know the administration has spent trillions in an attempt to lift the economy, but would it go as far as actually fudging statistics? We'll examine potential cases for 'data spiking' in a moment, but for now we'll take a look at one of the most popular government statistics, which is misleading to say the least.
GDP - Like a Flag in the Wind
GDP reports are prepared by the Bureau of Economic Analysis (BEA) and are a science all in itself. GDP reports are often revised. The 'advance' estimate is published at the end of the first month following the close of a quarter. In addition to the 'advance' estimate, there are first and second revisions called the 'preliminary' and 'final' estimates. The 'final' estimate is reviewed annually, usually in July. Once every several years, the BEA reviews all data back to 1929. On July 30, the BEA lowered Q2 2010 growth from an estimated 2.7% to 2.4%. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008 and it was lowered by 0.4% for 2009 (see chart below)[chart]. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8%, and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper and the alleged recovery much weaker than previously reported. Imagine if you would have based your 2007 and 2008 investment decisions on GDP reports. But wait, there is more. On August 27, the BEA lowered the Q2 2010 GDP growth from 2.4% to 1.6%. The financial media, however, applauded the reduction since the final 1.6 number was still higher than the 1.4% economists expected. Stocks rallied over 2% that day.
Unemployment Numbers - Not Deserving of Your Trust
Unemployment in August increased from 9.5% to 9.6%, but that's ok. Why? According to the financial media, the increase of unemployment was due to an increase in labor force. An estimated 6.6 million students will be graduating and joining the labor force this year. An increasing labor force is a reality, not an excuse to rationalize higher unemployment numbers. The real unemployment rate (U-6) reported by the BLS (but neglected by the financial media) jumped from 16.5% to 16.7%. Nevertheless, stocks rallied nearly 3% when unemployment figures were released on September 3rd. According to the BLS, the manufacturing sector lost 27,000 jobs in August. This, however, contradicts the positive August ISM manufacturing report, which rose from 55.5% to 56.3%. Here is the analysis from the Institute for Supply Management: 'A PMI in excess of 42 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the PMI indicates growth for the 16th consecutive month in the overall economy, as well as expansion in the manufacturing sector for the 13th consecutive month.' If you ask the unemployed, it doesn't feel like the manufacturing sector is improving.
Changing Rules to Accommodate Growth
Amidst the biggest financial meltdown since the Great Depression, the administration had to act quickly. The sheer amount of toxic assets overwhelmed the banking (NYSEArca: KBE - News) and financial sectors (NYSEArca: XLF - News), which led to the fall of Lehman Brothers and credit contraction around the globe (NYSEArca: EFA - News). It was impossible to eliminate trillions of bad loans or revive the ailing real estate market (NYSEArca: IYR - News). It was impossible to prop up faltering sectors like consumer discretionary (NYSEArca: XLY - News) and technology (NYSEArca: XLK - News). In short, it was impossible to change reality. It was, however, possible to change the prevailing perception and hide the root problems. In fact, it wasn't just possible; it proved to be fairly easy. The government simply urged the Financial Accounting Standards Board (FASB) to change some rules. On April 2, 2009, the FASB changed Rule 157. The ripple effect caused by massive real estate losses suffered by the 'too big to fail' banks (NYSEArca: IYF - News), as well as regional banks (NYSEArca: KRE - News), threatened the integrity of the entire system. The 157 Rule change allowed banks to park all their losses in a bucket called other comprehensive income (OCI). OCI appears on the balance sheet, but not on the income statement and thus does not affect earnings. In late 2009 and early 2010, banks exceeded their earnings expectations - at least on paper - which created the perception that the economy was recovering. As it turns out, the timing for the Rule 157 change was perfect and coincided with the biggest stock market rally in recent history. A 50%+ run in the Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) intensified the perception that the economy was on the mend. Before the accounting rule change and other government efforts, the ETF Profit Strategy Newsletter predicted the biggest rally since the October 2007 all-time highs. Via the March 2nd Trend Change Alert, the newsletter advised to close out previously recommended short positions (some gained 100% and more) and buy long and leveraged ETFs, many of which gained 50%, 100% or more.
Back to the Future
All was well until April 2010. Prior to the April highs, Mr. Bernanke, Mr. Geithner, and the President were campaigning for their fair share of credit for rescuing and reviving the country. Rather than examining and disclosing some of the government's questionable methods, the media jumped on the bandwagon and tickled the alleged 'saviors' egos. By doing so, the pressure in the champagne bottle was increased. More investors bought stocks under the mistaken view the economy had improved. This increased the pool of stock owners and the pipeline of sellers. As per the most recent GDP numbers, investors found out that the state of the economy is worse than previously thought. Furthermore, the government has lost credibility and some of its associated ability to inflate stock market confidence. Watch out, once the cork blows! Investors leaving the market could send prices falling as fast as champagne gushing out of a bottle. In fact, this exodus probably started already. On April 16, the ETF Profit Strategy Newsletter noted that: 'The cork seems to have popped. Reality is setting in. The pieces are in place for a major decline.' Following the April highs, the ensuing decline erased eight months worth of gains in a mere 22 trading days. An initial wave of somewhat critical media reports quickly faded as the stock market stabilized. Sideways trading tends to calm the nerves and get investors re-engaged before the hammer drops again. What's the moral of the story? Faulty government data and trend-following media reports tend to distort the real picture and postpone and intensify the inevitable.
The ETF Profit Strategy Newsletter combines the analysis of various indicators with common sense and out-of-the-box thinking to formulate a short, mid, and long-term forecast.’

Successful Economic Policies? For Whom? Last week, in the wake of another uptick in the official unemployment rate, the administration continued to claim that their economic policies were working, just not fast enough.

Can America Recover When The Majority Of Americans See A Double Dip, And Think The Country Is Fundamentally Broken? Earlier this week we asked, can the economy really recover when 92% of the population says the economy is garbage in a survey? That was the number in a WSJ/NBC poll, and it would seem to indicate a major headwind in terms of sentiment.

IMF Resumes Direct Gold Dumping, Sells 10 Tons Of The Shiny Metal To Bangladesh It has been a while since the IMF sold gold directly to sovereign countries.

Obama rating hits new low Overall, 41% of voters say they at least somewhat approve of the president’s performance. Fifty-eight percent (58%) disapprove.

The Anniversary of 9/11 Washington’s Blog | If even the 9/11 Commissioners don’t buy the official story, why do you?

Congressman Ron Paul Hints At 2012 Presidential Campaign Steve Watson | “It’s something I think about every single day.”

Hamilton and Kean Call for Domestic Terrorism Agency Kurt Nimmo | A bipartisan effort is underway to demonize patriotic Americans as domestic terrorists.

Doctors Giving Veterans Questionnaire to Determine Mental Illness Infowars.com | In 2007, a bill passed in the House and Senate allowing government to deny Second Amendment to veterans.

`Drudgereport: Thousands of Afghans protest Quran-burning plan...`
`Tennessee preacher to burn Quran...`
`Topeka, Kansas church vows burning...`
`Protester plans to burn on Wyoming's Capitol steps...`
`FLASHBACK: Muslims Burn Bibles and Destroy Crosses...`
`Ground Zero imam ignores pastor's two-hour deadline...`

`12 soldiers face trial after Afghan civilians 'were killed for sport and their fingers collected as trophies'... GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`
`'BETTER THAN EXPECTED'...`

`Treasuries Tumble Following Weak 30-Year Sale...`

U.S. drops in competitiveness ( Washington Post ) [ Fourth place for pervasively corrupt, defacto bankrupt america? I don’t think so; not in their wildest dreams, and there’s a lot of that in america these days, but little else. Reality says america’s place should be in the twenties at best. Previous: U.S. drops in competitiveness (Washington Post) [ Singapore, Sweden, … ? Don’t make me laugh! From defacto bankrupt, meaningfully lawless america’s perspective, this fallen ranking was a gift and one must be asking, what were they smoking (or whose money were they taking?) and is the rest of the world really that bad off? ] Large deficits and a weakened financial system make the U.S. less competitive in the global economy, according to World Economic Forum's new ranking.     Sweden Is A Better Place To Do Business Than The U.S. – [Well, that part is true, but …].   ‘…Sweden, by contrast, has “the world’s most transparent and efficient public institutions, with very low levels of corruption and undue influence.” Which loosely translated from wonk-speak sounds like, “You’re better off dealing with honest socialists than crony capitalists.”’ [ True enough, but I still don’t buy it (the rankings), especially america’s fourth place (as opposed to lower) ranking.]

Capitol Hill workers rack up back taxes ( Washington Post ) [ When you consider the pervasive corruption in their ranks and the redundancy / non-productive nature of government jobs, the case becomes irrefutably stronger for the abolition of same; particularly the lifetime appointees along with their plush accouterments, courts, etc.. Then there’s tiny tim geithner’s tax red flag, scofflaw hypocrit that he is. ] Capitol Hill employees owed $9.3 million in overdue taxes at the end of last year, a sliver of the $1 billion owed by federal workers nationwide but one with potential political ramifications for members of Congress.

Yeah! The lack of prosecutions and teeth therein has led to continued and bolder frauds and a complicit u.s. government! Stocks extend gains after drop in jobless claims [ Washington Post ] I was very disappointed to see this headline without disclaimer. Very disheartening.   [ It’s really quite amazing, and you won’t get this from the ‘money honeys’ or other mainstream drivel (actually I got this from the CBS news reporter, 1070am radio, but NOT their business report), the so-called better than expected jobs report (albeit bad at 451,000 continuing claims) was actually based upon federal government estimates for those reports that were not submitted owing to the holiday … and we all know how conservative the u.s. government is in making estimates, especially in election cycles when desperation abounds … riiiiight! (   `Drudgereport: GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`               `'BETTER THAN EXPECTED'...`      ) Then there’s the ‘need more capital’ news from among the strongest players in the European sector, viz., Germany’s Deutsch Bank, which can only mean, particularly in light of their adoption of the fraudulent wall street american mark to anything valuation of worthless paper, still out there in the many (hundreds?) of trillions. (see infra, ‘…ECB chief economist Jurgen Stark tells German MPs that the banking system is insolvent. This led to complete shock because the newspaper headlines from July suggested the opposite. The German policy establishment is under the illusion that its banking system is sound because it passed what turned out to be fraudulent stress test…’) Now, if the German banking system’s insolvent, is there a term for double, triple, quadrupal, etc., insolvent for what the american banking system must be? One doesn’t need clairvoyance to know that only bodes ill.   Stocks Cling to Skinny Gains, Can't Shake Banking Concerns   ]

The Eerie Implications of Market Volume and Mutual Fund Flows ‘… Here's a more compelling question: If two-thirds or more of daily volume is a function of high-frequency trading, what are the implications for index prices over the long haul? A year has passed since I posted some charts illustrating the incredible ratio of S&P 500 volume devoted to five financial stocks. Today's game is no doubt different from last September. It may be about making money, but it probably has little to do with investing — which may explain a lot about current volume metrics and mutual fund flows. I'll update these volume charts periodically in the months ahead.’

Report From Europe: Fall in U.S. Weekly Jobless Claims Cheers Stocks The Mole … Today is Rosh Hashanah, the jewish New Year, in which it is believed the names of the righteous are recorded in the book of life, those in the middle ground are given ten days to repent and become good, while the wicked are deleted from the book of life. In essence, it is make or break time for the year. One wonders if we might be entering a similar phase for Ireland with landmark decisions over the fate of Anglo Irish Bank taken (with the cost of the funeral to be know in early October) and the funding cliff for Irish banks to refund some €25bn of maturing debt this month pending (though I feel fears over their capacity to roll this debt is way overblown)…   Today’s Market Moving Stories

Figures showed that the July US trade deficit declined more than expected today and reached -$42.8bn. Thus, June’s spurt to $-49.8bn seems to have been a blip in the data. In July, total exports gained M/M 1.8 percent while imports decreased 2.1 percent. As for growth, foreign trade is still set to be a slight drag on GDP in 2010Q3. After all, imports started into Q3 on a very elevated level (and significantly above the 2010Q2 average). However, the drag will be much less than Q2’s -3.4pp.

While US initial jobless claims fell 27k to 451k last week. Claims moved sideways since the start of the year (the average since Jan is 466k), indicating that the improvement on the labour market did make scant headway. All in all, after a long spell of weak data, today’s releases offer some respite.

In a combative speech, Obama conceded his policies have “fed the perception that Washington is still ignoring the middle class,” was billed as a major economic address to unveil a new round of proposals to kick-start a flagging economic recovery. The president did introduce three new policy proposals the White House has been rolling out for nearly a week: $50 billion in additional infrastructure spending, a permanent and expanded research and experimentation tax credit and a measure allowing businesses to write 100 percent of their investment costs off their taxes through 2011. But Mr. Obama’s speech was far more about politics than economics.

ECB chief economist Jurgen Stark tells German MPs that the banking system is insolvent. This led to complete shock because the newspaper headlines from July suggested the opposite. The German policy establishment is under the illusion that its banking system is sound because it passed what turned out to be fraudulent stress test. Jurgen Stark is reported to have told a group of Christian Democrat MPs in Berlin that the German banking sector as a whole is undercapitalised. More controversially, he advised them to privatise the saving banks – the ultimate taboo because the savings banks are consider sacrosanct. FT Deutschland reported that Stark also relayed the assessment of US bankers that the German system could not conceivably survive the introduction of the tougher capital rules of Basel III.

Japan has no choice but to intervene in currency markets to prevent the yen’s strength from decimating the nation’s industry, Barclays Capital said. The yen reached 83.35 versus the dollar yesterday, the highest since May 1995, threatening Japan’s export-led recovery. Industry and jobs won’t likely return from abroad even if the currency weakens eventually, and that prospect may force policy makers to intervene “in the immediate future,” said Tetsufumi Yamakawa, co-head of Japan research at Barclays. “If the yen’s strength lasts at current levels, factories, investment and jobs will all move overseas,” Yamakawa said at a forum in Tokyo yesterday.

Australian job growth exceeded forecasts in August, sending the unemployment rate down to 5.1% and driving the nation’s currency higher on speculation the central bank will resume raising interest rates. Employers added 30,900 workers in August, exceeding the median forecast for 25,000 in a Bloomberg News survey of 25 economists, the statistics bureau said in Sydney today. The jobless rate matched the lowest level since January 2009…

Worth a read: Michael Lewis has a field day: Beware of Greeks Bearing Bonds (Vanity Fair)

Tiny tim geithner Says China Needs to Let Market Drive Up Yuan Bloomberg | U.S. Treasury Secretary Tiny tim geithner said China must let the yuan rise more quickly to show trading partners that it’s following through on its promises [ Riiiiight! … Everyone’s just clamoring for american advice on the global meltdown precipitated by ‘american advice and consent’.]

Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 Matthias Chang | Quantitative Easing spearheaded by the Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

“I Am Jim Cramer And I Approve Of The President’s Message (Because The Market Moved Up By 3 Points)” There are women (and men) who will do anything for a price. Then there is Jim Cramer.

Jim Sinclair: Strap In For Gold’s Move To $1650 By January Now that expectations for Gold at very significant prices are being offered by various rational sources, there is one thing you can be sure of. That one thing is $1650.

Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.

Castro Admits Communist Economics a Failure

Pastor Terry Jones Calls off Koran Burning, Ground Zero Mosque May Be Moved Pastor Terry Jones today canceled his plan to burn Korans at his Florida church after claiming he has struck a deal with a New York Muslim cleric to relocate the so-called Ground Zero mosque.

UN Blueprint: Dismantle Middle Class, Build World Government A UN blueprint for putting the organization back at the forefront of global governance alarmingly reveals the agenda to re-brand global warming as “overpopulation” as a means of dismantling the middle classes while using “global redistribution of wealth” and increased immigration to reinvigorate the pursuit of a one world government.

US soldier ‘kept Afghan body parts’ At least two of the five US soldiers charged in the deaths of three Afghan civilians had kept body parts taken from Afghan corpses and threatened subordinates, according to new documents released by the US army.

Random Pat-Downs Turn PATCO Into Police State “We can conduct any kind of search we want,” said McClintock. “We could ask TSA to bring wands or X-ray machines like they have in airports, though we don’t think that’s appropriate for PATCO riders at this time.”

Gerald Celente Calls Out General Petraeus On Koran Warning Hypocrisy “You hear someone like General Petraeus saying burning the Koran could be dangerous to American troops – hey General Petraeus – how about invading Arab countries and occupying them and killing innocent people? You think that could be dangerous to American troops? Oh no no, our foreign policy has nothing to do with this – they don’t like Americans because we go to Disneyland and shop at Walmart.”

Ground Zero Mosque Imam: If You Don’t Build It, They Will Attack Moving the project to another location would strengthen Islamist radicals’ ability to recruit followers and will likely increase violence against Americans, the imam said.”

Clinton Talks World Government at the Council On Foreign Relations Kurt Nimmo | Simply substitute the phrase “American leadership” with “leadership by the globalist cabal.”

Barack Obama: Puppet on a String Jurriaan Maessen | The United States is unfolding an agenda that has been pushed for by international banks in conjunction with the CIA.

Business as Usual: Fed Court Slaps Down Torture Lawsuit Against CIA Kurt Nimmo | Once again, national security trumps the rule of law and the corporate media provides cover.

UN Blueprint: Dismantle Middle Class, Build World Government Paul Joseph Watson | Globalists set out agenda to re-brand global warming as overpopulation in bid to impose carbon taxes.

Claims of Recovery But Results Nowhere To Be Found Bob Chapman | The American public is alarmed at what they see going on.

`Drudgereport: GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`
`'BETTER THAN EXPECTED'...`

`Treasuries Tumble Following Weak 30-Year Sale...`

600 Lockheed execs take buyout (Washington Post) [ Talk about having your fingers on the economic / fiscal pulse of the nation. This should be a new leading economic indicator which, unlike many of the others, is less prone to manipulation. All hail, the ‘golden goose’ is dead! `Drudgereport: MORGAN STANLEY: U.S. Government Bond Defaults Inevitable …`    This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ] The move reflects a shift underway as defense contractors scramble to prepare for Pentagon budget cuts.

Reform's unexpected fallout (Washington Post) [ Riiiiight! That reform thing … everything but prosecution of the perps who are back to their churn and earn ways as some of their worthless paper moving ways have been legislatively sanctioned / adopted in the form of mark to anything valuation of worthless assets / paper which debacle is waiting to rear that ugly head! ] Nation's battle for regulatory reform wasn't supposed to have this kind of collateral damage. But the new law is threatening the existence of a day-care center, which has operated for 24 years in the District.

U.S. drops in competitiveness (Washington Post) [ Singapore, Sweden, … ? Don’t make me laugh! From defacto bankrupt, meaningfully lawless america’s perspective, this fallen ranking was a gift and one must be asking, what were they smoking (or whose money were they taking?) and is the rest of the world really that bad off? ] Large deficits and a weakened financial system make the U.S. less competitive in the global economy, according to World Economic Forum's new ranking.

Afghans question U.S.-style capitalism (Washington Post) [ As indeed they should inasmuch as the same is neither capitalism nor american style in the traditional sense referenced here. Defacto bankrupt, in decline, and pervasively corrupt, meaningfully lawless america is a nation unworthy of emulation! ]   Kabul Bank became the pride of Afghanistan's financial system by offering the conveniences and thrills of 21st-century capitalism. But the scene outside the bank's headquarters Wednesday was far from that modern ideal.

Fed sees widespread slowdown of growth (Washington Post) [ Stocks rally anyway … the ‘miracle of computerized programmed trading’ even if the math and fundamentals don’t add up …

Bad Math - Why The Bullish Case Doesn't Add Up Simon Maierhofer, On Wednesday September 8, 2010, 3:19 pm EDT
1+1=2     2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation? Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices
Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As we've seen in January and April of 2010, positive earnings reports are not bullish for stocks, especially if future guidance is weak.
2+2=5 or Weaker than Expected Economy = Rising Stock Prices
On July 30, the Bureau of Economic Analysis (BEA) lowered the Q2 Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. On August 27, the Q2 GDP was lowered further to a jaw-dropping 1.6%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?
3+3=7 or Positive Analyst Estimates = Higher Stock Prices
A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Direxion Daily Financial Bull 3X Shares (NYSEArca: FAS - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News).

If you care to know, until recently, analysts estimated that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?
4+4=9 or Technical Sell Signals = Higher Stock Prices
The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. [chart] In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).
5+5=11 or Overvalued Stocks = Higher Prices
As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped and overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market bottoms. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.

Report From Europe: Panic Amongst the PIIGS (Seeking Alpha – The Mole) [ Sounds far from hunky-dory to me and as the wall street frauds would have you believe and used as a rallying point this day. Total b s! ] ‘U.S. stocks fell for the first time in five days Tuesday, ending the longest streak of gains for the S&P 500 Index since July, on concern the European debt crisis may worsen and hamper global growth. Bank of America (BAC) and Citigroup (C) fell at least 2% as European banks slid on concern stress tests understated potential losses from sovereign debt. Meanwhile ConocoPhillips (COP) and Chevron (CVX) slumped more than 1.2% as crude oil fell the most in a week. But Oracle (ORCL) rallied 5.9% after naming Mark Hurd, former chief executive officer of Hewlett-Packard (HPQ) as president. Today, despite some token buying by the ECB and a decent Portuguese bond auction, the bond vigilantes have again been out doing their worst pushing the Irish / German 10 year spread out to levels not seem since 1988 when the debt GDP ratio was 118% . Indeed yesterday saw the worst single daily performance by Irish Government bonds ever in terms of spread widening. Greece is also back in the crosshairs in response to a downward revision to Q2 Greek GDP to -1.8% from -1.5% originally, and on news the National Bank of Greece plans to raise Eur2.8 bln of capital. The latter may be especially alarming in the current environment, but really reflects a desire for extra security and also a cash hoard to potentially spend on weaker rivals. ATEbank stands prominently in this respect. (picture)
Today’s Market Moving Stories
The stand-out mover in FX today was GBP, which rallied sharply, largely it would seem on news that Vodafone (VOD) has sold its stake in China Mobile and intends to use 70% of the proceeds (£4.2bn) to fund share buybacks. The macros community had started to build GBP shorts in recent days and this M&A flow prompted a flurry of short-covering, assisted as well by better than feared Halifax house price data.
Irish Banking
According to the Irish Times this morning, the bank’s chairman has stated that a statement on Anglo should be expected today. Who will make it or what the nature of the announcement will be is not evident, but keep eyes peeled around 4pm. Recent media reports have indicated strongly that an orderly wind down of the bank over 10-15yrs is the new preferred option. But what the markets are really looking for is an update on the total FINAL bottom line kitchen sink cost of the bailout and whether its closer to Eur 25bn or S&P’s recent & much criticized Eur 35bn figure. UPDATE – SEE VERY BOTTOM OF THIS POST. Bloomberg reports that private equity heavyweight J.C. Flowers and three other bidders for Ireland’s EBS Building Society may buy and merge several lenders to create a new competitor to the country’s biggest banks, two people familiar with the situation said. J.C. Flowers., the U.S. buyout firm, Dublin-based Cardinal Asset Management, backed by U.S. private equity firm Carlyle Group, and Doughty Hanson & Co. are vying with Irish Life & Permanent Plc (ILPMF.PK) to take control of EBS, said the people who declined to be identified. Each of the bidders said in talks that they plan to merge EBS, the country’s biggest customer-owned lender, with other building societies. That would create a new rival to Bank of Ireland Plc (IRE) and Allied Irish Banks Plc (AIB), the country’s biggest lenders. EBS and the National Treasury Management Agency, which is overseeing the sale, will probably select a preferred bidder or two short-listed bidders next week, according to one of the people.
Japan
Japanese Finance Minister Yoshihiko Noda said he is prepared to take “bold” action on currencies, including intervention in foreign-exchange markets, after the yen reached a 15-year high against the dollar. “We will take bold action if necessary and naturally that can include intervention,” Noda told lawmakers in parliament today. “We have to use every option available as a strong yen is likely to have a severe impact on companies.” The yen rose to 83.52 per dollar yesterday, the highest level since June 1995, as concerns about weakening growth in the U.S. and Europe bolstered the currency’s appeal as a refuge.
UK Outlook
A U.K. index of hiring for permanent jobs in August showed the slowest growth pace in 10 months, KPMG LLP and the Recruitment and Employment Confederation said. The gauge of full-time job placements dropped to 56.3 from 60.2 in July, the groups said in an e-mailed report today in London. That’s the slowest pace since October. Readings above 50 indicate an increase in hiring. The U.K. is bracing itself for a period of austerity as Prime Minister David Cameron pledges to reduce the country’s record budget deficit. U.K. shop price inflation accelerated in August as the price of food rose at the quickest annual pace in over a year, a survey showed Tuesday. Total shop price inflation was 1.7% on the year in August and 0.1% on the month, compared with a 1.5% annual rate and 0.1% monthly decline in prices in July, the monthly survey by the British Retail Consortium showed. That was due to a more-than-one percentage point rise in the cost of food. Food prices were 3.8% higher in August than a year earlier, while food prices rose 0.2% from July. And July’s UK industrial production figures suggest that the manufacturing sector continues to enjoy steady, if unspectacular, growth. The 0.3% rise in manufacturing output was the third such gain in a row and pushed the yoy rate of output growth up to a new cycle high of 4.9%. Overall industrial production saw a similar monthly gain. For now, then, the output data are defying the rather gloomier tone of some of the recent industrial surveys, such as last week’s CIPS report on manufacturing. But it is worth remembering that the surveys normally lead the hard data by a few months, so it would be no surprise if output growth were to start to weaken over the next few months. And even if output posts similar increases in August and September, industry won’t make as strong a contribution to GDP growth in Q3 as it did in Q2. Overall, UK industry is still doing pretty well, but it may not last too much longer. (picture)

Company / Equity News

UK homebuilder Berkeley Group has issued an interim management statement this morning covering the period from 1st May 2010 to 31st August 2010. The group pointed out that demand for properties over the period has been resilient, particularly in London which has a shortage of supply and specific demand from international purchasers. Outside of London, which is more reliant on the UK domestic economy, a lack of credit availability and weak consumer confidence is weighing on transactions currently.

Barratt Developments also reported full year results this morning. The group reported a full-year loss of £118.4m compared to a loss of £468.6m. Market expectations were for a loss of £125m. Revenue declined by 11% to 2.04bn with the group selling 11,377 homes during the period, compared with 13,277 last year. The group’s operating margin increased to 5.9% from 1.8% a year earlier. The group expects a ‘modest’ increase in average selling price this year, however the group noted that the outlook for new housing ‘remains challenging’. For clients looking for exposure to a UK home builder, Persimmon is my preferred play.

Securities firms (investment banks) around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, said Meredith Whitney, the former Oppenheimer & Co. analyst who now runs her own firm. The reductions, about 10 percent of current levels, will come after 2010 compensation payments. “The key product drivers of Wall Street’s revenues and profits over the past decade have been in a structural decline over the past three years,” Whitney said in the report. “2010 marks the first year in many in which Wall Street-centric firms will go through structural changes.”

Vodafone’s $6.6 billion sale of its stake in China Mobile Ltd. is the biggest divestment since Chief Executive Officer Vittorio Colao took charge in 2008. Investors want to know what’s next. Vodafone sold its 3.2 percent stake in China’s largest mobile phone company today. About 70 percent of the proceeds will be returned to shareholders through a stock repurchase and the rest will be used to pay down debt, Newbury, England-based Vodafone said in a statement yesterday.

Nokia Oyj, the world’s biggest maker of mobile phones, has a lot riding on its annual showcase event next week as it tries to claw back lost ground to Apple Inc.’s (AAPL) iPhone and devices based on Google’s (GOOG) Android software. The Finnish company is likely to focus attention at Nokia World in London on its high-end Symbian smartphone line, including the touch screen N8, its latest effort to take on Android and iPhone handsets.

Google’s CEO Eric Schmidt said the company plans to extend its Web television service from U.S. viewers to global consumers in 2011. Google has an agreement with Sony Corp. (SNE) to launch Web TV in the U.S. this fall, while Samsung Electronics Co. (SSNLF.PK), the world’s largest television manufacturer, said today it may make sets run by Google’s software to compete with Sony and Apple Inc. in the market for TVs that access movies, shows and games online.

The life of Germany’s nuclear power plants will be extended by up to 15 years under a deal agreed between energy companies and the government of Chancellor Angela Merkel. Germany’s energy giants will pay [euro]15 billion to fund research into renewable energy and Berlin will, in return, set aside a 2000 agreement forced by the Schroder government to wind down all nuclear energy plants by 2025.

According to the FT, Ryanair (RYAAY) may return to the market for a purchase of up to 300 airplanes, the Financial Times said late Tuesday, citing an interview with chief executive Michael O’ Leary. O’Leary told the FT his company also plans on writing to aviation authorities asking to use a single pilot for short-haul flights, the report on the FT website said.

Evidence emerged yesterday that the strained relations of late between Tullow (TUWOY.PK) and the Ugandan Government over the issue of tax arising from the Heritage Oil transaction eased somewhat based on comments attributed to the Energy Minister. Questioned on the Government stance regarding the recently rescinded Kingfisher licence in Block 3A and Tullow’s ability to redress the situation, the Energy Minister appeared to soften the Government position indicating a favorable response should Tullow apply.

Dana Petroleum (DNPXF.PK) offered a strong defence this morning against the unsolicited offer of £18 per share from the Korean National Oil Company (KNOC) and also announced the widely anticipated acquisition of Petro-Canada’s UK assets for a cash consideration of £240m ($372m).

And finally UPDATE – Text of announcement on Anglo Irish
The Minister for Finance today briefed his Government colleagues on the strategic options for the future of Anglo Irish Bank. The Minister conveyed to the Government the views of the Board of Anglo Irish Bank, the Central Bank, the National Treasury Management Agency, the Department of Finance, the EU Commission and his own assessment of the position.The Government decided that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised in early 2009 and this will remain the case. It is intended that in due course the Recovery Bank will be sold in whole or in part or that its assets will be run off over a period of time. The guaranteed position of depositors will be unchanged by the new arrangements and no action is required of them as a result of today’s announcement. The depositors will become customers of the Funding Bank which will be fully capitalized and continue as a regulated bank. In order to restore the reputation of the Irish Financial System it is essential to bring finality to the problem of Anglo Irish Bank – our most distressed institution. The Government’s primary objective in dealing with Anglo Irish Bank has been to minimise the cost of this distressed bank to the Irish taxpayer. The Board of Anglo Irish Bank submitted its preferred option to the Minister and to the European Commission at the end of May for consideration under State Aid rules. The board’s plan envisaged splitting the bank into an asset management company and a new good bank. The asset management company would have managed out over time the bank’s lower quality assets remaining after the transfers to NAMA. The new good bank would have managed the remaining share of the loan book, retained the bank’s deposit funding and sought new lending opportunities to grow the bank. The Minister acknowledges the good faith and hard work of the board in producing a credible proposal for the future of the bank. However, the Government has concluded that this plan in its current form does not now provide the most viable and sustainable solution to ensure the continued stability of the Irish banking system.
Resolution Proposal
In these circumstances, the Government has decided to opt for a variation of the board’s restructuring proposal. The Government’s decision does not affect existing guarantee arrangements. Under the restructuring plan, the Funding Bank will be a Government-backed/guaranteed specialist deposit bank which will contain the bank’s deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the Minister for Finance. This bank will not engage in any lending, but will provide a secure home for Anglo’s depositors and any new customers who wish to deposit their funds with it. Depositors with the Funding Bank will be completely insulated from the future performance of the rest of the current Anglo Irish Bank loan book. The Asset Recovery Bank will also be a licensed regulated bank. Its dedicated focus will be on the work-out over a period of time of the assets not being transferred to NAMA in a manner which maximises the return to the taxpayer.
Costs
The Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank will determine the appropriate levels of capital needed in both institutions. Its decision will be announced by October.
EU Commission
The Department of Finance has conducted intensive discussions with the EU Commission in recent weeks about the future of Anglo Irish Bank. The Minister for Finance met Commissioner Almunia last Monday to discuss the issue. A formal detailed plan is being prepared for submission to the Commission for approval.
The Minister said: “Today’s decision by the Government will provide certainty about the future of Anglo Irish Bank. Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system.”
8th September 2010
ENDS
Brian Meenan
Press Office
PH: 6045875
email: [email protected] ‘

Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

So Broke We Can’t Pay Attention Howard Beale | You spent the whole day yesterday worrying about today, and now that it’s here, was it worth it?

The Financial Industry Is A ‘Gigantic Parasite’ We Don’t Need Anymore Vincent Fernando | Strong words from ex-Morgan Stanley Andy Xie.

Beige Book Picture Shows Growth Slowing, Stocks Down From Highs

Fidel Castro says Cuban model doesn't work (AP) Fidel Castro told a visiting American journalist that Cuba's communist economic model doesn't work.

Deflation Never Had A Chance What the deflationists fail to acknowledge is that in a purely fiat monetary system deflation is a choice not an inevitability. To put it in simple terms, if a government is willing to sacrifice its currency there is absolutely no way deflation can take hold in a modern monetary system.

There Are Now Enough Vacant Properties In China To House Over Half Of America On the assumption that each flat serves as a home to a typical Chinese family of three (parents and one child), the vacant properties could accommodate 200 million people, which account for more than 15% of the country’s 1.3 billion population.

`Drudgereport:` `BLIAR BUSTED: Former UK PM's autobiography includes dialogue from meeting with 'Queen' -- taken from fiction movie! Developing...REV: THE BURNING WILL PROCEED...`
`'Meant to Be a Warning'...`
`Vatican: 'Outrageous'...`
`NYPD: 'Dangerous'...`
`Holder: 'Idiotic'...`
`Clinton: 'Disgraceful'...`
`Palin: 'Unnecessary provocation'...`
`FBI: Retaliation 'Likely'...`

`Petraeus Speaks Out on Quran Burning...`
`Endangers Troops...`
`Pastor Says Church Not Deterred...`
`Hartford City Council meetings to begin with Muslim prayers...`
2 SOLDIERS KILLED IN IRAQ, 9 WOUNDED*

`ADDICTED TO STIMULUS: $50,000,000,000 MOREDems wary of WH's huge new spending plan...`
`Obama takes aim at Boehner...`    `'They talk about me like a dog'… [ If the shoe fits ...`     President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.” ]

`'They talk about me like a dog'...`
`FLASHBACK: President-Elect Obama: Mutt 'Like Me'... 'Even liberal elites concede that Obama's presidency is crumbling'...`
`BARONE: Sinking with Obama, Democrats plan political triage...`

`Muslims Protest Plans to Burn Quran...`
`'Death to America'...`

`Fears rise as EU nations aim to raise borrowing... Roubini: More than 400 US Banks Will Fail...`

`'COMBAT OVER': US TROOPS BATTLE IN BAGHDAD...`

Why the Furious Bear Will Come Back - Simon Maierhofer, On Tuesday September 7, 2010, 4:34 pm ‘The Top Ten List has become a staple of David Letterman's Late Show. We don't quite have the space to discuss ten reasons why the bear market isn't over (if we did, we'd probably put you to sleep), but we'll take a crack at a Top Five List. Without further ado, here it is:

#1: Forget About Earnings

Using past earnings numbers to project future performance is like basing your Roulette bet on the numbers that won previously… [chart]

#2: Budget Deficits

The 2011 U.S. deficit projection for 2011 was raised from $1.2 trillion to $1.4 trillion...

#3: Banks - Nothing but Fluff

…Fundamentally, however, nothing had changed… 'The house of cards was much bigger and started to stretch beyond Wall Street…The government postponed the collapse of the 'whole deck' thus far. As of recent, however, some disturbing information has surfaced. Bank of America admitted to hiding bad assets and Goldman's 82% profit drop shows that the days of fat trading profits - such as seen in Q3 and Q4 2009 and Q1 2010 - are over… It doesn't take an economist to know that taking money from your savings account and transferring it to your checking account can't be counted as income.

#4 Real Estate

In late July, the market allegedly rallied because new home sales jumped 24% to 330,000 units in June. We feel the urge to put this number into perspective. May sales were revised from an original 300,000 units to 267,000 units - this is an all-time low. Bouncing off from the lowest level on record, new home sales did indeed increase 24%. Is that reason to celebrate though? Chances are the 330,000 will be revised lower in the future. Regardless, 330,000 homes sold pales in comparison to the 1.4 million homes sold in 2005.The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale and vacation homes, reached 18.9 million. It shouldn't be too long before those bleak fundamentals are reflected in the performance of real estate ETFs like the iShares DJ US Real Estate ETF (NYSEArca: IYR - News) and SPDR DJ REIT ETF (NYSEArca: RWR - News). ..

#5: Consumer Confidence

During periods of economic expanse the Conference Board's Consumer Confidence Index has averaged a reading above 100. Recessions average a reading of 71. The current confidence reading is at a dismal 50.4. The chart below paints this sad picture. [chart] Consumer spending is said to make up about three quarters of the economy. How can the economy recover without participation by the consumer? It can't. That doesn't mean stocks can't rally temporarily. Such a disconnect between the economy and Wall Street's dream world tends to be short-lived.

Sentiment Confusion

… More importantly though, the optimism surrounding the April highs is indicative of a major market top, a top that implies a decline much deeper than the 20% we've seen thus far. This conclusion is certainly supported by the above-mentioned Top Five list and many other indicators…

9-17-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position, Nobel Prize Winner Krugman’s, and that of demographer Dent … This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed … Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

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). ]

Our Best Minds Are Failing Us Newsweek | Policy and political debates still driven by outdated economic theory have been racing out of control.

The Emerging Global Fed New American | The Federal Reserve has been a nightmare for the American people. It inflates the money supply, thereby devaluing already-existing money and placing a massive hidden tax on the people via rising prices.

US ‘sees world influence declining’ amid economic woe BBC | There has been a sharp rise in the number of Americans who believe the US role as a world leader is on the decline, a survey suggests.

Accumulating Incongruities [ Bottom line in this article is that the author (and me) doesn’t buy the labor / unemployment stats which have been skewed / guesstimated to the up side which probably is no surprise given the abounding desperation and proximity to the elections ]

Household Net Worth Plunges By Most Since Q4 2008, As Government Borrowing Surges In other words, the net wealth of the US household continues to track the performance of the stock market tick for tick. And one wonders why the Fed, per Alan Greenspan’s admission, is only focused on ramping stocks up to all time highs.

The Secret List Of 10 States With Soaring Poverty Rates The Government Doesn’t Want You To See

This is only half of the story though. Despite all these methodological weaknesses I was curious enough to look for the list of states with the worst and best poverty rates. I skimmed through their 88 page report but I could not find a single table breaking down their flawed results by state. This must be top secret information, I said to myself.

The poor and impoverished turn to the forest

RT’s Anastasia Churkina re-visits Tent City – a homeless camp tucked away in the woods of New Jersey, where over 40 people have been forced to live, with nowhere else to go.

9-16-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Leading Economic Indicators Continue to Suggest Return to Contraction Is Likely

U.S. Economy "Gradually Deteriorating," Levy Says: Recession Likely in 2011

Ten Reasons This Rally Is Ultimately Toast Wachtel ‘Here are 10 reasons why risk assets (stocks, riskier forex pairs, industrial commodities) have a very high probability of a pullback very soon.

Technical Indicators: High Risk Of Downturn
The S&P 500 is the best single representative of overall risk appetite. It is telling us that a pullback is coming very soon. (chart)
1. Coming Bounce Off Of Upper Bollinger Band (standard 2, 20 default settings):

Once the index starts to pull back from its upper Bollinger band, it usually pulls back to at least its 50 day SMA, often lower. Since the end of the most recent rally in late April, this rule has worked flawlessly in both mid-June and mid-August. The index is now once again at its upper Bollinger Band.

Up Against Multiple Reinforcing Layers Of Strong Resistance Around 1120.

2. Upper Bollinger Band (noted above).

3. 200 day SMA (purple line).

4. 61.8% Fibonacci retracement from the February 2010 low (which has held up well as support, only violated for a few sessions in July and August).

5. Neckline (red horizontal line around 1125) of the big bearish Head-And-Shoulders pattern dating all the way back to the beginning of 2010. Left shoulder in January, head in April, and right shoulder in June.

6. This same resistance at 1125 is reinforced by another bearish chart pattern- a bearish double top (that may soon become a triple top if the above indicators prove correct).

7. Recent Rally On Low Volume: The rally that began in late August has been on very low volume, which suggests lack of conviction and thus less durability.

Fundamentals Don’t Support A Rally

8. We are heading into the second half of the month, which is lighter on significant news data than would be needed to justify a push past the above strong resistance layers

In addition, there is the overwhelmingly bearish fundamental backdrop:

9. US economic slowdown in every meaningful category: housing prices (where the bear market began), jobs, spending, etc. Even manufacturing, until recently a rare bright spot, has been slowing since the prior Philly Fed report.

10. The ongoing and utterly unsolved EU sovereign debt/banking crisis, with its now periodic eruptions. While we have no major eruptions reported recently, PIIGS sovereign and bank yields and CDS rates remain at May’s crisis levels, a clear indication that markets are very nervous and ready to sell off, as they have over the past weeks on news of Ireland’s latest bank bailout and a Wall Street Journal article on how the EU bank stress tests understated PIIGS bond exposure.

As noted in previous posts, support and resistance must be viewed as zones rather than precise points. The lack of news noted above could allow for continued quiet drift upward to 1140 or even a bit more.

However, that leaves little room to profit for anyone except very short term traders. Others should be planning short trades as the S&P and other risk assets head back down to test support. For the S&P 500 that would be around 1040 in the near term.

DISCLOSURE & DISCLAIMER: NO POSITIONS, THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.’

Philadelphia Manufacturing Index Falls

Foreclosures Rise; Repossessions Set Record CNBC | US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace.

Gold Rises to Record on Increased Demand for Wealth Protection Bloomberg | Gold rose to a record in London and New York as investors sought protection against turmoil in the global economy and financial markets. Silver rose to the highest price since March 2008.

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Regional Manufacturing Still Deteriorating

Despite Range Trading - Prominent Sell Signals Still Alive Simon Maierhofer, On Thursday September 16, 2010, 12:35 pm EDT About a month ago, news about the ominous Hindenburg Omen, terrible September/October and other prominent sell signals were the big buzz around Wall Street. Has the recent rally and range bound trading neutralized or even eliminated the bearish undercurrents? A look at current sentiment would make you think so. Sentiment surveys show that bullishness has soared and optimists are back in control (see chart below).But are the optimists generally right? No. In fact, unfounded optimism is one of the biggest investment traps and most effective bear market tricks. On April 16, the ETF Profit Strategy Newsletter warned that: 'The message conveyed by the composite bullishness is unmistakably bearish. Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again.' When it comes to investing, emotions tend to get in the way of making money. It takes an opportunistic, yet realistic approach to profit in this market.
Parallels Between 2000, 2007, and Today
From a purely analytical point of view, the April ETF Profit Strategy Newsletter examined the 2000 and 2007 market tops and compared them with the 2010 price action, at a time when optimism was soaring sky-high. The parallels between the 2000, 2007 and forming 2010 tops were striking, that's why the newsletter concluded that: 'A comparison between the 2000 and 2007 double tops to the current constellations shows that the market may roll over at any time.' Similar to the January/April 2000 and July/October 2007 double tops, the April 2010 highs were preceded by a lower January top. But the parallels didn't stop there.
Major Tops Followed by Decoy Rallies
Following the initial 2007 decline, the April, May 2008 rally rekindled new hope and pushed the major indexes a la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) briefly above their 200-day moving average (MA). Following the initial April 2010 decline, the July/August rally also pushed the S&P briefly above the 200-day MA. Both, in 2008 and 2010, the indexes were rebuffed by the 200-day MA. The failure to stay above the 200-day MA in May 2008 was followed by a 53.75% decline in the S&P 500. Former performance leaders like the Financial Select Sector SPDRs (NYSEArca: XLF - News) and KBW Bank ETF (NYSEArca: KBE - News) tumbled 79%, the Technology Sector SPDRs (NYSEArca: XLK - News) dropped 49%. Even conservative sectors such as utilities (NYSEArca: XLU - News) and healthcare (NYSEArca: XLV - News) dropped another 35 - 45%. Like a free diver who comes up for air, the market tends to rally to keep investors engaged before the next leg down. The chart below - which plots bullish advisor sentiment against the price of the S&P 500 from June 2007 - September 2010, illustrates the market's cruel habit of spreading hope just before the hammer drops. [chart]
It Happened Before
Since we are talking about prior market tops, we can't help but mention the mother of all sucker rallies, which occurred in 1929/1930. Following the initial 1929 meltdown, the 1930 rally recouped 50% of the previously lost points. Ironically, the 1930 rally ended on April 16. The 2010 counter trend rally ran its course on April 26. In addition to a near identical termination date, the two rallies rekindled the same kind of bullish sentiment. Below are a few headlines and statement from April 1930. Keep in mind that the Dow went on to decline more than 80% thereafter. 'For the immediate future, the outlook is bright' - Irving Fisher, Ph. D. in Economics 'I see nothing in the present situation that is either menacing or warrants pessimism.' - Andrew W. Mellon, U. S. Secretary of the Treasury 'The depression is over' - Herbert Hoover, President If you escaped the market in time, you might be able to read the following April 2010 headlines with a fair shot of humor and realize the irony: 'As job worries ease, will anything stop the stock market?' – CNBC 'Dow 11,000 is only the beginning' - Wall Street Journal 'Check the real estate: It is time to delve in' - Wall Street Journal
It Happened Recently
It's easy to dismiss any parallels to the Great Depression simply because it happened 80 years ago. However, an 80% drop is nothing unusual and has been seen recently. The Nasdaq (Nasdaq: QQQQ - News) peaked in 2000 and tumbled 78.4% within less than two years. Much evidence suggests that the Nasdaq's woes are not yet over with more losses and lower lows on the horizon. Oil prices tumbled 77% after topping at $147.3 a barrel in 2008. Both, the Nasdaq and oil prices topped at a time when higher prices were a foregone conclusion. With regards to oil, the expectation for higher fuel prices moved all major car manufacturers to advertise and build low MPG cars. As soon as their commercials hit TVs, radios, and newspapers across the country, oil and fuel prices started to drop like a rock. Some still dismiss those declines as sector bubbles, not broad market declines.
It Happened to an Entire Country
The Nikkei is Japan's version of the S&P 500 and covers hundreds of stocks. In 1989, the Nikkei topped at 38,946. Since then, it has dropped over 80% to below 8,000 (see chart below, published in the April 2010 ETF Profit Strategy Newsletter). [chart] Throughout this 20-year decline, the Nikkei had eleven rallies of 20% or more and four that were 50% or more. In total, the Nikkei rallied well over 250,000 rally points, yet it remains 76% below its 1989 peak. The decline of Japan's stock market (NYSEArca: EWJ - News) and economy happened amidst a global bull market. Imagine what can happen to the U.S. stock market during a global recession spurred by European (NYSEArca: FEZ - News) debt woes and global stock market (NYSEArca: EFA - News) weakness. It's human nature to rationalize and invent reasons why something can't happen. It's the stock market's nature to prove investors wrong. Based on parallels that aren't farfetched by any means, a follow through of the post 2007 U.S. equity meltdown is more than just a possibility.
Fundamentals, Technicals, Valuations, and History in Agreement
Investing is about putting the odds in your favor. There is no such thing as a 100% certain profit opportunity. However, there are high probability profit opportunities where the odds of having a winning trade are high and the potential reward is much higher than the potential risk. Such high probability profit opportunities occur when as many indicators as possible point in the same direction. Right now, there is a near unanimous consent between fundamental and technical indicators, along with valuations and historic patterns. The latest ETF Profit Strategy Newsletter includes a detailed analysis of various market forecasting tools, along with a short, mid, and long-term outlook for the U.S. stock market and a target range for the ultimate market bottom. Even though the economic outlook is dim, realistic investors can feel optimistic about the opportunities in the months and years ahead.

Census Reveals 45m Americans Living in Poverty One in seven Americans is living below the poverty line, it was revealed yesterday. With 45mn Americans officially designated as poor, the US census figures reflect the worst decline in living standards for more than half a century.

Ex-CIA Agents Confirm Torture at Polish Black Site Former CIA agents have confirmed rumors that the agency tortured terror suspects at a detention center in Poland. One agent allegedly held a drill to a prisoner’s head while he was naked and hooded.

Blair’s Journey: US medal for ‘war criminal’? Former British Prime Minister Tony Blair will receive a prestigious American medal for human rights work. But in his ten years as premier, Blair went from huge popularity to being called a U.S. poodle. His policies in Iraq and Afghanistan earned him accusations of having blood on his hands. And as Laura Emmett reports, many are outraged at his latest award.

Why New Bank Capital Rules Could Make Things Worse CNBC | Early reports suggest the required levels of capital will be much lower than feared, and the kinds of assets that can be used to meet the requirements more expansive than earlier proposals suggested.

Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 Matthias Chang | Quantitative Easing spearheaded by the Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations … in crime:

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

When Will the Bad Dream End? Anthony Gregory | It has been nine whole years since 9/11, and it is starting to look like the “post-9/11″ insanity has become a permanent feature of the American landscape.

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY SHOWING LATEST AVAILABLE DATA (america’s No. 1).

Rank

Countries

Amount

# 1

United States:

11,877,218

# 2

United Kingdom:

6,523,706

# 3

Germany:

6,507,394

9-15-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Underestimating the Risks of the Stock Market   [ Keep in mind, this is an election year and as good as it gets, as bad as it is beyond the spun / fake market-frothing data ] Babak ‘If you spend enough time trading and studying the markets you realize viscerally that markets tend to fall and fall hard much more than they rise. We got a very good example of this in the 2008 bear market where the S&P 500 index gave back in about 18 months all the gains that had taken it almost 5 years to accumulate (March 2003 to October 2007). The theoretical framework that many people use and that which is still taught in finance classes across the globe continues to assume that returns fall into a normal distribution. While it is useful to know that modern portfolio theory and EMH are flimsy theories with no real world applications, it doesn’t help us to recalibrate our instruments to just how asymmetrical stock returns really are. To get at that answer, the research team at Welton Investments compared the actual distribution of returns from the S&P 500 index over the past 50 years with the expected risk based on a Monte Carlo simulation. The results are shown in the chart below: [ chart Source: Tail Risk ]* This study shows that investors continuously and severely underestimated negative returns. In fact, going by rolling quarterly losses of 20% or more, investors experienced 5.3 times more of these “fat tail” events than that accounted for by the expectations based on a normal distribution. That difference is huge! Knowing this historical reality, investors have two choices: either don’t play the game (get out of stocks) or play but have a safety net handy for the inevitable fall …’

Empire State Manufacturing Falls in September

Technical Resistance: Here We Go Again Hui ‘…The odds seem to favor another downleg for a couple of reasons.
First of all, investor sentiment has gotten incredibly bullish in the space of a couple of weeks, which is contrarian bearish.
More important for the intermediate term, the market is facing a number of macro headwinds of economic weakness starting in 4Q. John Hussman noted in his latest weekly comment [emphasis added]: As I've noted frequently in recent commentaries, the typical lag between deterioration in say, the ECRI Weekly Leading Index and the ISM Purchasing Managers Index is about 13 weeks, and sometimes longer. The typical lag with respect to new claims for unemployment is about 23-26 weeks (which puts the likely window of deterioration at about the October - November time frame), and the typical lag with respect to the payroll unemployment report is, not surprisingly, about 4 weeks beyond that.
Uber-bear Albert Edwards put it more bluntly:The current situation reminds me of mid 2007. Investors then were content to stick their heads into very deep sand and ignore the fact that The Great Unwind had clearly begun. But in August and September 2007, even though the wheels were clearly falling off the global economy, the S&P still managed to rally 15%! The recent reaction to data suggests the market is in a similar deluded state of mind. Yet again, equity investors refuse to accept they are now locked in a Vulcan death grip and are about to fall unconscious…’

The Dow Is Overbought on Its Daily Chart

To Dip or Double-Dip? Janjigian There has been a lot of talk lately about whether or not we will have a double-dip recession. I have long been in the camp that says a double-dip is a real possibility. I believe the probability for a second recession is higher now than it was last March. But how does one actually assign a number to this probability? The economists Nouriel Roubini and Martin Feldstein are perhaps the most bearish on the economy. They say the chances of a second recession are about one in three. This means they believe that if the economy were to experience the same exact conditions it is experiencing now hundreds of times, one-third of those times would result in a recession. Another way to look at is that the probability that we will not have a second recession is about 67%. In other words, even the most bearish economists believe there is a much better chance that we will avoid a second recession than there is that we will actually have one … [ Hey, come on! If they only were the most bearish on the economy … Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

9-14-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Buried Alive - Prominent Sell Signals Simon Maierhofer, On Tuesday September 14, 2010 'A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.' - Winston Churchill
’Does that mean that an optimist is always right? No. In fact, unfounded optimism is one of the biggest investment traps and most effective bear market tricks. On April 16, the ETF Profit Strategy Newsletter warned that: 'The message conveyed by the composite bullishness is unmistakably bearish. Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again.' When it comes to investing, emotions tend to get in the way of making money. It takes an opportunistic, yet realistic approach to profit in this market.
Parallels Between 2000, 2007, and Today
From a purely analytical point of view, the April ETF Profit Strategy Newsletter examined the 2000 and 2007 market tops and compared them with the 2010 price action, at a time when optimism was soaring sky-high. The parallels between the 2000, 2007 and forming 2010 tops were striking, that's why the newsletter concluded that: 'A comparison between the 2000 and 2007 double tops to the current constellations shows that the market may roll over at any time.' Similar to the January/April 2000 and July/October 2007 double tops, the April 2010 highs were preceded by a lower January top. But the parallels didn't stop there.
Major Tops Followed by Decoy Rallies
Following the initial 2007 decline, the April, May 2008 rally rekindled new hope and pushed the major indexes a la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) briefly above their 200-day moving average (MA). Following the initial April 2010 decline, the July/August rally also pushed the S&P briefly above the 200-day MA. Both, in 2008 and 2010, the indexes were rebuffed by the 200-day MA. The failure to stay above the 200-day MA in May 2008 was followed by a 53.75% decline in the S&P 500. Former performance leaders like the Financial Select Sector SPDRs (NYSEArca: XLF - News) and KBW Bank ETF (NYSEArca: KBE - News) tumbled 79%, the Technology Sector SPDRs (NYSEArca: XLK - News) dropped 49%. Even conservative sectors such as utilities (NYSEArca: XLU - News) and healthcare (NYSEArca: XLV - News) dropped another 35 - 45%. Like a free diver who comes up for air, the market tends to rally to keep investors engaged before the next leg down. The chart below - which plots bullish advisor sentiment against the price of the S&P 500 from June 2007 - September 2010, illustrates the market's cruel habit of spreading hope just before the hammer drops. [chart]
It Happened Before
Since we are talking about prior market tops, we can't help but mention the mother of all sucker rallies, which occurred in 1929/1930. Following the initial 1929 meltdown, the 1930 rally recouped 50% of the previously lost points. Ironically, the 1930 rally ended on April 16. The 2010 counter trend rally ran its course on April 26. In addition to a near identical termination date, the two rallies rekindled the same kind of bullish sentiment. Below are a few headlines and statement from April 1930. Keep in mind that the Dow went on to decline more than 80% thereafter. 'For the immediate future, the outlook is bright' - Irving Fisher, Ph. D. in Economics 'I see nothing in the present situation that is either menacing or warrants pessimism.' - Andrew W. Mellon, U. S. Secretary of the Treasury 'The depression is over' - Herbert Hoover, President If you escaped the market in time, you might be able to read the following April 2010 headlines with a fair shot of humor and realize the irony: 'As job worries ease, will anything stop the stock market?' – CNBC 'Dow 11,000 is only the beginning' - Wall Street Journal 'Check the real estate: It is time to delve in' - Wall Street Journal
It Happened Recently
It's easy to dismiss any parallels to the Great Depression simply because it happened 80 years ago. However, an 80% drop is nothing unusual and has been seen recently. The Nasdaq (Nasdaq: QQQQ - News) peaked in 2000 and tumbled 78.4% within less than two years. Much evidence suggests that the Nasdaq's woes are not yet over with more losses and lower lows on the horizon. Oil prices tumbled 77% after topping at $147.3 a barrel in 2008. Both, the Nasdaq and oil prices topped at a time when higher prices were a foregone conclusion. With regards to oil, the expectation for higher fuel prices moved all major car manufacturers to advertise and build low MPG cars. As soon as their commercials hit TVs, radios, and newspapers across the country, oil and fuel prices started to drop like a rock. Some still dismiss those declines as sector bubbles, not broad market declines.
It Happened to an Entire Country
The Nikkei is Japan's version of the S&P 500 and covers hundreds of stocks. In 1989, the Nikkei topped at 38,946. Since then, it has dropped over 80% to below 8,000 (see chart below, published in the April 2010 ETF Profit Strategy Newsletter). [chart] Throughout this 20-year decline, the Nikkei had eleven rallies of 20% or more and four that were 50% or more. In total, the Nikkei rallied well over 250,000 rally points, yet it remains 76% below its 1989 peak. The decline of Japan's stock market (NYSEArca: EWJ - News) and economy happened amidst a global bull market. Imagine what can happen to the U.S. stock market during a global recession spurred by European (NYSEArca: FEZ - News) debt woes and global stock market (NYSEArca: EFA - News) weakness. It's human nature to rationalize and invent reasons why something can't happen. It's the stock market's nature to prove investors wrong. Based on parallels that aren't farfetched by any means, a follow through of the post 2007 U.S. equity meltdown is more than just a possibility.
Fundamentals, Technicals, Valuations, and History in Agreement
Investing is about putting the odds in your favor. There is no such thing as a 100% certain profit opportunity. However, there are high probability profit opportunities where the odds of having a winning trade are high and the potential reward is much higher than the potential risk. Such high probability profit opportunities occur when as many indicators as possible point in the same direction. Right now, there is a near unanimous consent between fundamental and technical indicators, along with valuations and historic patterns. The latest ETF Profit Strategy Newsletter includes a detailed analysis of various market forecasting tools, along with a short, mid, and long-term outlook for the U.S. stock market and a target range for the ultimate market bottom. Even though the economic outlook is dim, realistic investors can feel optimistic about the opportunities in the months and years ahead.

Is the Stock Market Safe? [ This time the consensus is correct, in a ‘fish in a barrel’ kind of way! ]‘In a word, no. That’s the general consensus found in a survey of individual investors done by AP and CNBC this week. As if dealing with two major bear markets since the turn of the century wasn’t enough, all the talk about high frequency trading and the May 6th "Flash Crash" seems to have pushed individual investors over the edge in terms of their comfort level with the stock market. In fact, according to an AP/CNBC poll, 55% of those surveyed believe the stock market is fair only to some investors. The bottom line of this particular survey is that investors are now wary about the idea of using the stock market as a way to invest for retirement. Instead, the survey found that the vast majority of individual investors continue to pump unprecedented amounts of money into what many believe is the most overvalued asset class on the planet – government bonds. One result of the 10-plus year secular bear market in stocks is the gradual erosion of the public’s interest and confidence in stocks as an investment. Of course this HAS happened before. Anyone recall the 1982 cover of Time magazine with the title “The Death of Equities?” Although the cyclical bull market that began in March 2009 remains intact, the public has been pulling money out of the market on a monthly basis. Since January 2008, the Investment Company Institute reports that a total of $244 billion has been withdrawn from US equity funds. Yet at the same time, a total of more than $589 billion has poured into US bond mutual funds, which is an unparalleled amount. It appears that the "Flash Crash" may have been the straw that broke the camel’s back. For example, in the 11 weeks prior to May 6th the public pumped a strong $26.6 billion into equity mutual funds. This is hardly surprising since during that time the market was rising steadily and had gained more than 70% in the past 12 months. However, in the 16 weeks since the "Flash Crash," investors have been running scared. In fact, Investment Company Institute reports that the public has pulled money out of US equity funds each and every week since, with cumulative withdrawals now totaling $55.9 billion. Thus, it would appear that the market’s recent volatility has caused the investing public to lose confidence in the market. The AP/CNBC poll found that 61% of those surveyed felt the volatility has made them less confident about buying and selling stocks. There is also a widespread perception is that the market is rigged or unfair to the little guy. Nearly 90% of the survey respondents whose portfolios are less than $50,000 said the market is unfair to small investors. In addition, the public doesn’t seem to have much faith in the administration to fix the situation in the market. The poll found that just 8% expressed strong confidence in federal regulators while 50% expressed little-to-no confidence in those tasked with overseeing the markets. Does this mean it is time to give up on the stock market as an investment vehicle? We would respond with a resounding “no!” The trick is to understand that the game has changed. After an 18-year bull market, the tide has turned. As such, investors actually have to do something besides putting money into any old mutual fund and closing their eyes. Disclosure: No positions’ [Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.

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). ]

Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud allegations that have emerged over the past year are not restricted to a few bad apples at shady companies — they involve some of the largest players in global finance.

Hatzius: The Risks Are Still to the Downside

Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s climb after Prime Minister Naoto Kan won a party leadership vote.

Six in 10 Canadians live pay to pay Globe and Mail | Fifty-nine per cent of Canadian workers say they would be in financial trouble if their paycheque was delayed by just a week.

IMF fears ‘social explosion’ from world jobs crisis Telegraph | America and Europe face the worst jobs crisis since the 1930s and risk “an explosion of social unrest” unless they tread carefully, the International Monetary Fund has warned.

‘The Great American Stickup’: It Was The Economy, Stupid It is not conspiratorial but rather accurate to suggest that blame can be assigned to those who consciously developed and implemented a policy of radical financial deregulation that led to a global recession.

John Williams Sees The Onset Of Hyperinflation In As Little As 6 To 9 Months As Fed “Tap Dances On A Land Mine” John Williams, arguably one of the best trackers of real, unmanipulated government data via his Shadow Stats blog, has just released a note to clients in which he warns that hyperinflation may hit as soon as 6 to 9 months from today.

Will the Basel III Bank Regulations Change Anything? The much-trumpeted Basel III increase in capital requirements will not be fully phased in until 2019.

Three Powerful Trends Will Push Gold Prices To $1600 UniCredit has upgraded their target price for gold from $1,250 to $1,600 by the end of 2012. The reason for the upgrade is based on three powerful trends: the fear over “money printing” at the Fed (QE), the idea that the Euro sovereign debt crisis represents a condemnation of fiat money and increasing demand for gold from China.

The Real Story Behind Bill Gates And “Death Panels” Bill Gates’ advocacy for “death panels” has caused controversy amongst conservative commentators, but the real outrage behind the story has been completely overlooked – the fact that Gates is a hardcore eugenicist and has called for lowering the global population through vaccines which his foundation funds to the tune of billions.

Ex-CIA Agents Confirm Torture at Polish Black Site Former CIA agents have confirmed rumors that the agency tortured terror suspects at a detention center in Poland. One agent allegedly held a drill to a prisoner’s head while he was naked and hooded.

Blair’s Journey: US medal for ‘war criminal’? Former British Prime Minister Tony Blair will receive a prestigious American medal for human rights work. But in his ten years as premier, Blair went from huge popularity to being called a U.S. poodle. His policies in Iraq and Afghanistan earned him accusations of having blood on his hands. And as Laura Emmett reports, many are outraged at his latest award.

Big Sis To Get Expanded Role In Policing Internet Two cybersecurity bills that would hand President Obama the power to shut down parts of the Internet in the event of a national emergency have now been merged into a single unified piece of legislation that Democrats will try to pass before the end of the year, with the Department of Homeland Security being given a larger role in policing the world wide web.

Peace Activist Cindy Sheehan: “I am A 9/11 Truther” Cindy Sheehan, the anti-war activist who lost her son to the ongoing war in Iraq, delivered an impassioned and emotional speech during which she specifically addressed concerns over the 9/11 attacks and stated that she believes they were orchestrated by elements of the U.S. government for political gain.

Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War Party Soros and crew want to get out the vote at all cost, even if they have to exploit kids.

Gold and Silver Explode as Banksters Abandon Market Manipulation Gold has surged to a new high as the prospect of inflation reared its ugly head in the United Kingdom on bad news from a report indicating a weaker-than-expected eurozone industrial production. Germany and France, despite sovereign debt fears, have been able to manage anemic growth but today’s data signals a slow down.

Allegation: Americans Flooded Out Millions in Pakistan to Protect U.S. Drone Military Base Feryal Ali Gauhar served as a Goodwill Ambassador for the United Nations Population Fund and is the only UN Goodwill Ambassador who quit over the invasion of Iraq.

The Biocratic Utopians Part I: Prussian Grenadiers Jurriaan Maessen | The ambition of the biocrats is to create a “superior” class of men.

Gold and Silver Explode as Banksters Abandon Market Manipulation Kurt Nimmo | Gold traded as high as $1,261.90 on Tuesday.

Big Sis To Get Expanded Role In Policing Internet Paul Joseph Watson | Democrats want “Kill Switch” bill passed this year.

Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War Party Kurt Nimmo | The Twitter crowd needs to know that the health of the state is perpetual war.

Expanding U.S.-Canada Security and Economic Partnership Dana Gabriel | NAFTA partners are pursuing a more bilateral agenda for advancing continental integration.

`Drudgereport: 'Tea party' favorites lead in NH, Delaware...`
`Establishment Freaks...`
`Upsets...`
`RESULTS...`
`WIRE... Doomsday warnings of US apocalypse gain ground... US poverty on track to post record gain under Obama... Last minute aid helps city dodge default...`

`REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...`
`Paul says GOP shares blame for deficits...`
`Kerry flip-flops on tax cuts...`

`Muslims protest Quran-burning plan...`
`Florida pastor calls it off...`
`Christians rip pages from Muslim holy book in front of White House...`
`Man ignites Quran near Ground Zero...`
`VIDEO...`
`Mosque opponents, supporters face off in downtown NYC...`
`OBAMA: 'We are not and never will be at war with Islam'...`

Finance groups: Long transition to ease new bank rules (Washington Post) [ Basel’s all the rage … Riiiiight! Bonkers for Basel, the thing in rally vogue this day … but, not Basil as in Basil Rathbone of super sleuth Sherlock Holmes film fame who’d make short shrift of this fraudulent wall street contagion that has swept over Europe in a manner to rightfully earn the moniker ‘eventual black Friday plague’ … and then there’s the ‘higher oil price’ part of the suckers’ rally. We can certainly expect Rosanne Rosanna Danna formerly of SNL fame, as night follows the day, to chime in with a reminder as her mama always used to say, ‘it’s always something’ … but unfortunately, that somethin’ is not reality. YAHOO [BRIEFING.COM]: ‘Broad-based buying on the back of Basel III boosted stocks to their fourth straight gain, or seventh advance in eight sessions. Still, participation remained unimpressive ... ‘ AP Business Highlights ‘… Banks get years to adjust to new global rules   BASEL, Switzerland (AP) -- Bankers and analysts said new global rules could mean less money available to lend to businesses and consumers, but praised a decision to leave plenty of time -- until 2019 -- before the financial stability requirements come into full force ...’ ]Critics caution, however, that the requirements adopted by the Basel Committee on Banking Supervision fall short of what's needed to prevent another financial crisis.

Cuba to cut 500,000 workers, reform salaries (Washington Post) [ Boy, when Castro said communism wasn’t working for them anymore, he wasn’t kidding! No gloating for defacto bankrupt, pervasively corrupt america which is a far cry from capitalism and but a whisper from collapse itself.]

Banks miss TARP payments (Washington Post) [ Sounds like a plan! … Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013 … (see rest of article infra)]

Economy's fallout (Washington Post) The fallout of a troubled economy [ I’m sorry to say that … you ain’t seen nothing yet … much worse to come! ]From foreclosure to food shortages, the recession set in motion by the financial crisis of 2008 is having a broad and deeply-felt global impact.

Doomsday warnings of US apocalypse gain ground AFP | Economists peddling dire warnings that the world’s number one economy is on the brink of collapse.

A subtler tack to fight Afghan corruption? (Washington Post) [ How about a not so subtler tack to fight corruption starting right here in the u.s. of a. where corruption and crime are pervasive and in fact, at the root of the Afghanistan problems, from american reinvigorated heroin trade to bribery attendant thereto to killing civilians, etc.. Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations … in crime:

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY SHOWING LATEST AVAILABLE DATA (america’s No. 1).

Rank

Countries

Amount

# 1

United States:

11,877,218

# 2

United Kingdom:

6,523,706

# 3

Germany:

6,507,394

… ]

Doomsday warnings of US apocalypse gain ground AFP | Economists peddling dire warnings that the world’s number one economy is on the brink of collapse.

9-13-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Riiiiight! Bonkers in Basel are the thing in rally vogue this day … but, not Basil as in Basil Rathbone of super sleuth Sherlock Holmes fame who’d make short shrift of this fraudulent wall street contagion that has swept over Europe in a manner to rightfully earn the moniker ‘eventual black Friday plague’ … and then there’s the ‘higher oil price’ part of the suckers’ rally. We can certainly expect Rosanne Rosanna Danna formerly of SNL fame, as night follows the day, to chime in with a reminder as her mama always used to say, ‘it’s always something’ … but unfortunately, that somethin’ is not reality. YAHOO [BRIEFING.COM]: ‘Broad-based buying on the back of Basel III boosted stocks to their fourth straight gain, or seventh advance in eight sessions. Still, participation remained unimpressive ... ‘ AP Business Highlights ‘… Banks get years to adjust to new global rules   BASEL, Switzerland (AP) -- Bankers and analysts said new global rules could mean less money available to lend to businesses and consumers, but praised a decision to leave plenty of time -- until 2019 -- before the financial stability requirements come into full force ...’

Doomsday warnings of US apocalypse gain ground AFP | Economists peddling dire warnings that the world’s number one economy is on the brink of collapse.

Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud allegations that have emerged over the past year are not restricted to a few bad apples at shady companies — they involve some of the largest players in global finance.

Why New Bank Capital Rules Could Make Things Worse CNBC | Early reports suggest the required levels of capital will be much lower than feared, and the kinds of assets that can be used to meet the requirements more expansive than earlier proposals suggested.

Economic Docs Find Remedy Amid Bubble Rubble Even the most casual observer of the events of the last five years — the housing bubble, the bust and the digging-out process — would be struck by the similarities between the policies that got us into this mess and the prescriptions for getting us out.

World Panel Backs Rules to Avert Banking Crises Top central bankers and bank regulators agreed Sunday on far-reaching new rules for the global banking industry that are designed to avert future financial disasters, but could also dampen bank profits and strain weaker institutions.

Tim Geithner Warns: The US Is At Risk Of A 1930s Repeat If the government become paralyzed — as is arguably the case already, and is clearly a serious risk should the GOP take over — the US risks a 1930s-like scenario. At least according to Tim Geithner.

M2 Surges By $30 Billion In Past Week To Highest Ever, Even As Monetary Base Declines Another week in which the M2 jumped to a fresh all time high, increasing by $30 billion W/W to just under $8.7 trillion.

Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday continues with the total number of failures for 2010 now up to 119 on the way to 150 to 200, as the third quarter total ended September 10th at 33. During “The Great Credit Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter, another 45 in the second quarter, and so far 33 for the third quarter. With 119 bank failures so far in 2010 the total for “The Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to 800 by the end of 2012 into 2013.

The failed bank was publicly-traded Horizon Bank (HZNB.OB), which had huge overexposures to C&D and CRE loans with risk ratios of 358% and 1769% versus the ignored regulatory guidelines of 100% and 300% of risk-based capital. The commitment pipeline of commercial real estate loans was 99% funded as “extend and pretend” caused this failure. The consolidator bank has been used before by the FDIC; Bank of the Ozarks (OZRK) which has a HOLD rating according to ValuEngine.

Here are some statistics from the FDIC for the Second Quarter 2010: There were 45 bank failures in the second quarter, and we ended the quarter with the number of FDIC-insured financial institutions declining to 7,893, of which 1306 are publicly-traded.

· 1172 of all community banks (14.8%) are overexposed to Construction & Development Loans.

· 1432 or 18.1% are overexposed to Nonfarm / Nonresidential real estate loans.

· 2504 or 31.7% are thus overexposed to Commercial Real Estate loans.

· 1317 or 16.7% have a real estate loan pipeline that’s 100% funded.

· 2622 or 33.2% have a pipeline that’s between 80% and 100% funded.

· 3939 of 49.9% of all banks have a pipeline that’s 80% or more funded. So half the community banks in America remain overleveraged to Commercial Real Estate and the possible losses remain about $1.5 trillion.

Publicly-Traded Banks:

· 293 of the 1306 publicly-traded banks are overexposed to C&D loans

· 394 are overexposed to Nonfarm / Nonresidential real estate loans.

· 687 or 52.6% of the publicly-traded banks are thus overexposed to Commercial Real Estate loans. We publish this list as the ValuEngine List of Problem Banks.

· 234 publicly-traded banks have a real estate loan portfolio that’s 100% funded.

· 463 have a real estate loan portfolio between 80% and 100% funded.

· 697 thus have significant real estate loan pipeline stress.

Problem Banks at the end of the Second Quarter versus the First Quarter:

·         Given the waves of bank failures the total assets among the 686 Publicly-Traded Problem Banks declined to $135.9 billion from $164.7 billion in the first quarter. C&D loans declined to $12.7 billion from $16.4 billion with a CRE loan pipeline steady at 78.1% versus 78.0%.

·         Assets among the 91 Deadbeat Banks, (those in arrears on making TARP dividend payments), totals $99.9 billion with C&D loans at $10.9 billion and a CRE pipeline of 80.9%.

·         Assets among failed publicly-traded banks increased to $122.5 billion from $116.7 billion in the first quarter. C&D loans increased to $22.3 billion from $21.5 billion. The CRE loan pipeline increased a tick to 90.4% from 90.3%.

Assets among banks with a CRE pipeline of 80% or more funded increased to $3.84 trillion including $121.3 billion in C&D loans. The average pipeline for 3939 banks is 92.0%. Among this list are four big banks that will likely see waves of write-offs in upcoming quarters.

·         JP Morgan Chase (JPM) with $1.72 trillion in assets has a pipeline of 80%.

·         SunTrust Banks (STI) has $160.5 billion in assets with an 83% pipeline.

·         BB&T Corp (BBT) has $149.2 billion in assets with an 84% pipeline.

·         Fifth Third Bank (FITB) has 100.0 billion in assets with an 84% pipeline.

Disclosure: No positions’

U.S. Trade Deficit Still Growing

Why New Bank Capital Rules Could Make Things Worse CNBC | Early reports suggest the required levels of capital will be much lower than feared, and the kinds of assets that can be used to meet the requirements more expansive than earlier proposals suggested.

Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 Matthias Chang | Quantitative Easing spearheaded by the Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations … in crime:

Though having but 5% of the world’s population, america can boast 76% of the world’s serial killers, followed by Europe with England/UK then Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers: Real Life Hannibal Lechters          http://www.albertpeia.com/realifeamericaserialkillers.mpg      (as is consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         )   ]:

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY SHOWING LATEST AVAILABLE DATA (america’s No. 1).

Rank

Countries

Amount

# 1

United States:

11,877,218

# 2

United Kingdom:

6,523,706

# 3

Germany:

6,507,394

# 4

France:

3,771,850

# 5

Russia:

2,952,370

# 6

Japan:

2,853,739

# 7

South Africa:

2,683,849

# 8

Canada:

2,516,918

# 9

Italy:

2,231,550

# 10

India:

1,764,630

# 11

Korea, South:

1,543,220

# 12

Mexico:

1,516,029

# 13

Netherlands:

1,422,863

# 14

Poland:

1,404,229

# 15

Argentina:

1,340,529

# 16

Sweden:

1,234,784

# 17

Belgium:

973,548

# 18

Spain:

923,271

# 19

Chile:

593,997

# 20

Thailand:

565,108

# 21

Ukraine:

553,594

# 22

Austria:

552,411

# 23

Finland:

520,194

# 24

Denmark:

491,026

# 25

New Zealand:

427,230

# 26

Hungary:

420,782

# 27

Czech Republic:

372,341

# 28

Zimbabwe:

351,153

# 29

Norway:

330,071

# 30

Romania:

312,204

# 31

Switzerland:

307,631

# 32

Turkey:

286,482

# 33

Morocco:

283,702

# 34

Venezuela:

236,165

# 35

Portugal:

218,360

# 36

Colombia:

214,192

# 37

Malaysia:

167,173

# 38

Peru:

161,621

# 39

Bulgaria:

148,915

# 40

Uruguay:

134,010

# 41

Belarus:

132,867

# 42

Tunisia:

130,375

# 43

Slovakia:

107,373

# 44

Greece:

102,783

# 45

Croatia:

101,853

# 46

Lithuania:

92,646

# 47

Philippines:

85,776

# 48

Saudi Arabia:

84,599

# 49

Slovenia:

81,697

# 50

Ireland:

81,274

# 51

Hong Kong:

80,592

# 52

Iceland:

60,242

# 53

Zambia:

59,426

# 54

Estonia:

57,799

# 55

Latvia:

49,329

# 56

El Salvador:

44,762

# 57

Costa Rica:

40,263

# 58

Jamaica:

39,188

# 59

Kyrgyzstan:

38,620

# 60

Moldova:

36,302

# 61

Mauritius:

35,943

# 62

Bolivia:

31,138

# 63

Luxembourg:

26,046

# 64

Yemen:

24,066

# 65

Panama:

21,058

# 66

Macedonia, The Former Yugoslav Republic of:

19,814

# 67

Kuwait:

19,350

# 68

Burma:

18,301

# 69

Malta:

17,023

# 70

Azerbaijan:

15,520

# 71

Georgia:

15,029

# 72

Papua New Guinea:

13,292

# 73

Cyprus:

13,023

# 74

Armenia:

12,048

# 75

Oman:

11,782

# 76

Nepal:

8,872

# 77

Dominica:

7,857

# 78

Maldives:

7,026

# 79

Qatar:

5,838

# 80

Albania:

5,303

# 81

Seychelles:

4,297

# 82

Montserrat:

751

Total:

63,531,202

Weighted average:

774,770.8

DEFINITION: Note: Crime statistics are often better indicators of prevalence of law enforcement and willingness to report crime (I believe, and facts support, crime in america to be substantially under-reported and under-prosecuted owing to pervasive corruption, arbitrary enforcement of the law, etc.) than actual prevalence.

SOURCE: The Eighth United Nations Survey on Crime Trends and the Operations of Criminal Justice Systems (2002) (United Nations Office on Drugs and Crime, Centre for International Crime Prevention)

9-10-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Unemployment Claims Not as Bullish as They Seem (Why?   Kudrna:‘The Labor Department reported Thursday morning that new claims for unemployment dropped a seasonally adjusted 27,000 to 451,000. Unexpected bullish news, right? The markets immediately gapped-up on this information as the bulls found good reason to buy. Unexpected positive news is almost always met with a bullish move north as it’s rarely priced in. However, a useful tidbit of information about that shockingly large drop came out after the gap-up. Bloomberg reported that nine states didn't file claims data to the Labor Department in Washington because of the Labor Day holiday earlier this week. California and Virginia estimated their figures and the U.S. government estimated the other seven. Coincidence in the large drop or not? We will see when the next revision comes out but usually those revisions fail to make headlines as we are already focusing on future claims. This has been a great cover-up method for a long time…’

How Government Reporting Will Intensify the Inevitable Simon Maierhofer, On Friday September 10, 2010, 12:41 pm EDT ‘Natural carbonation keeps a champagne bottle under constant pressure. The more you shake the bottle, the higher the pressure gets and the further the cork will eventually fly. Figuratively speaking, the government has been shaking the bottle. Watch out when the cork pops. On August 10, the Associated Press reported that the Federal Reserve has found a new trick to jumpstart the economy. Below is the full quote that shows why we probably can't expect unbiased assessments coming out of Washington, or the Fed's corner: 'The Federal Reserve policymakers are pondering ways to jumpstart the economic recovery. The trick: making sure whatever they do or say doesn't rattle Wall Street.' Some of the recent government statistics have been 'interesting' no doubt, and we know the administration has spent trillions in an attempt to lift the economy, but would it go as far as actually fudging statistics? We'll examine potential cases for 'data spiking' in a moment, but for now we'll take a look at one of the most popular government statistics, which is misleading to say the least.
GDP - Like a Flag in the Wind
GDP reports are prepared by the Bureau of Economic Analysis (BEA) and are a science all in itself. GDP reports are often revised. The 'advance' estimate is published at the end of the first month following the close of a quarter. In addition to the 'advance' estimate, there are first and second revisions called the 'preliminary' and 'final' estimates. The 'final' estimate is reviewed annually, usually in July. Once every several years, the BEA reviews all data back to 1929. On July 30, the BEA lowered Q2 2010 growth from an estimated 2.7% to 2.4%. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008 and it was lowered by 0.4% for 2009 (see chart below)[chart]. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8%, and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper and the alleged recovery much weaker than previously reported. Imagine if you would have based your 2007 and 2008 investment decisions on GDP reports. But wait, there is more. On August 27, the BEA lowered the Q2 2010 GDP growth from 2.4% to 1.6%. The financial media, however, applauded the reduction since the final 1.6 number was still higher than the 1.4% economists expected. Stocks rallied over 2% that day.
Unemployment Numbers - Not Deserving of Your Trust
Unemployment in August increased from 9.5% to 9.6%, but that's ok. Why? According to the financial media, the increase of unemployment was due to an increase in labor force. An estimated 6.6 million students will be graduating and joining the labor force this year. An increasing labor force is a reality, not an excuse to rationalize higher unemployment numbers. The real unemployment rate (U-6) reported by the BLS (but neglected by the financial media) jumped from 16.5% to 16.7%. Nevertheless, stocks rallied nearly 3% when unemployment figures were released on September 3rd. According to the BLS, the manufacturing sector lost 27,000 jobs in August. This, however, contradicts the positive August ISM manufacturing report, which rose from 55.5% to 56.3%. Here is the analysis from the Institute for Supply Management: 'A PMI in excess of 42 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the PMI indicates growth for the 16th consecutive month in the overall economy, as well as expansion in the manufacturing sector for the 13th consecutive month.' If you ask the unemployed, it doesn't feel like the manufacturing sector is improving.
Changing Rules to Accommodate Growth
Amidst the biggest financial meltdown since the Great Depression, the administration had to act quickly. The sheer amount of toxic assets overwhelmed the banking (NYSEArca: KBE - News) and financial sectors (NYSEArca: XLF - News), which led to the fall of Lehman Brothers and credit contraction around the globe (NYSEArca: EFA - News). It was impossible to eliminate trillions of bad loans or revive the ailing real estate market (NYSEArca: IYR - News). It was impossible to prop up faltering sectors like consumer discretionary (NYSEArca: XLY - News) and technology (NYSEArca: XLK - News). In short, it was impossible to change reality. It was, however, possible to change the prevailing perception and hide the root problems. In fact, it wasn't just possible; it proved to be fairly easy. The government simply urged the Financial Accounting Standards Board (FASB) to change some rules. On April 2, 2009, the FASB changed Rule 157. The ripple effect caused by massive real estate losses suffered by the 'too big to fail' banks (NYSEArca: IYF - News), as well as regional banks (NYSEArca: KRE - News), threatened the integrity of the entire system. The 157 Rule change allowed banks to park all their losses in a bucket called other comprehensive income (OCI). OCI appears on the balance sheet, but not on the income statement and thus does not affect earnings. In late 2009 and early 2010, banks exceeded their earnings expectations - at least on paper - which created the perception that the economy was recovering. As it turns out, the timing for the Rule 157 change was perfect and coincided with the biggest stock market rally in recent history. A 50%+ run in the Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) intensified the perception that the economy was on the mend. Before the accounting rule change and other government efforts, the ETF Profit Strategy Newsletter predicted the biggest rally since the October 2007 all-time highs. Via the March 2nd Trend Change Alert, the newsletter advised to close out previously recommended short positions (some gained 100% and more) and buy long and leveraged ETFs, many of which gained 50%, 100% or more.
Back to the Future
All was well until April 2010. Prior to the April highs, Mr. Bernanke, Mr. Geithner, and the President were campaigning for their fair share of credit for rescuing and reviving the country. Rather than examining and disclosing some of the government's questionable methods, the media jumped on the bandwagon and tickled the alleged 'saviors' egos. By doing so, the pressure in the champagne bottle was increased. More investors bought stocks under the mistaken view the economy had improved. This increased the pool of stock owners and the pipeline of sellers. As per the most recent GDP numbers, investors found out that the state of the economy is worse than previously thought. Furthermore, the government has lost credibility and some of its associated ability to inflate stock market confidence. Watch out, once the cork blows! Investors leaving the market could send prices falling as fast as champagne gushing out of a bottle. In fact, this exodus probably started already. On April 16, the ETF Profit Strategy Newsletter noted that: 'The cork seems to have popped. Reality is setting in. The pieces are in place for a major decline.' Following the April highs, the ensuing decline erased eight months worth of gains in a mere 22 trading days. An initial wave of somewhat critical media reports quickly faded as the stock market stabilized. Sideways trading tends to calm the nerves and get investors re-engaged before the hammer drops again. What's the moral of the story? Faulty government data and trend-following media reports tend to distort the real picture and postpone and intensify the inevitable.
The ETF Profit Strategy Newsletter combines the analysis of various indicators with common sense and out-of-the-box thinking to formulate a short, mid, and long-term forecast.’

Successful Economic Policies? For Whom? Last week, in the wake of another uptick in the official unemployment rate, the administration continued to claim that their economic policies were working, just not fast enough.

Can America Recover When The Majority Of Americans See A Double Dip, And Think The Country Is Fundamentally Broken? Earlier this week we asked, can the economy really recover when 92% of the population says the economy is garbage in a survey? That was the number in a WSJ/NBC poll, and it would seem to indicate a major headwind in terms of sentiment.

IMF Resumes Direct Gold Dumping, Sells 10 Tons Of The Shiny Metal To Bangladesh It has been a while since the IMF sold gold directly to sovereign countries.

Obama rating hits new low Overall, 41% of voters say they at least somewhat approve of the president’s performance. Fifty-eight percent (58%) disapprove.

The Anniversary of 9/11 Washington’s Blog | If even the 9/11 Commissioners don’t buy the official story, why do you?

Congressman Ron Paul Hints At 2012 Presidential Campaign Steve Watson | “It’s something I think about every single day.”

Hamilton and Kean Call for Domestic Terrorism Agency Kurt Nimmo | A bipartisan effort is underway to demonize patriotic Americans as domestic terrorists.

Doctors Giving Veterans Questionnaire to Determine Mental Illness Infowars.com | In 2007, a bill passed in the House and Senate allowing government to deny Second Amendment to veterans.

`Drudgereport: Thousands of Afghans protest Quran-burning plan...`
`Tennessee preacher to burn Quran...`
`Topeka, Kansas church vows burning...`
`Protester plans to burn on Wyoming's Capitol steps...`
`FLASHBACK: Muslims Burn Bibles and Destroy Crosses...`
`Ground Zero imam ignores pastor's two-hour deadline...`

`12 soldiers face trial after Afghan civilians 'were killed for sport and their fingers collected as trophies'... GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`
`'BETTER THAN EXPECTED'...`

`Treasuries Tumble Following Weak 30-Year Sale...`

U.S. drops in competitiveness ( Washington Post ) [ Fourth place for pervasively corrupt, defacto bankrupt america? I don’t think so; not in their wildest dreams, and there’s a lot of that in america these days, but little else. Reality says america’s place should be in the twenties at best. Previous: U.S. drops in competitiveness (Washington Post) [ Singapore, Sweden, … ? Don’t make me laugh! From defacto bankrupt, meaningfully lawless america’s perspective, this fallen ranking was a gift and one must be asking, what were they smoking (or whose money were they taking?) and is the rest of the world really that bad off? ] Large deficits and a weakened financial system make the U.S. less competitive in the global economy, according to World Economic Forum's new ranking.     Sweden Is A Better Place To Do Business Than The U.S. – [Well, that part is true, but …].   ‘…Sweden, by contrast, has “the world’s most transparent and efficient public institutions, with very low levels of corruption and undue influence.” Which loosely translated from wonk-speak sounds like, “You’re better off dealing with honest socialists than crony capitalists.”’ [ True enough, but I still don’t buy it (the rankings), especially america’s fourth place (as opposed to lower) ranking.]

9-9-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

[ It’s really quite amazing, and you won’t get this from the ‘money honeys’ or other mainstream drivel (actually I got this from the CBS news reporter, 1070am radio, but NOT their business report), the so-called better than expected jobs report (albeit bad at 451,000 continuing claims) was actually based upon federal government estimates for those reports that were not submitted owing to the holiday … and we all know how conservative the u.s. government is in making estimates, especially in election cycles when desperation abounds … riiiiight! ( Drudge also comes through - `Drudgereport: GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`               `'BETTER THAN EXPECTED'...`      ) Then there’s the ‘need more capital’ news from among the strongest players in the European sector, viz., Germany’s Deutsch Bank, which can only mean, particularly in light of their adoption of the fraudulent wall street american mark to anything valuation of worthless paper, still out there in the many (hundreds?) of trillions, things are not rosy in the eu, u.s., etc., zones (see infra, ‘…ECB chief economist Jurgen Stark tells German MPs that the banking system is insolvent. This led to complete shock because the newspaper headlines from July suggested the opposite. The German policy establishment is under the illusion that its banking system is sound because it passed what turned out to be fraudulent stress test…’) Now, if the German banking system’s insolvent, is there a term for double, triple, quadrupal, etc., insolvent for what the american banking system must be? One doesn’t need clairvoyance to know that only bodes ill.   Stocks Cling to Skinny Gains, Can't Shake Banking Concerns   ]

The Eerie Implications of Market Volume and Mutual Fund Flows ‘… Here's a more compelling question: If two-thirds or more of daily volume is a function of high-frequency trading, what are the implications for index prices over the long haul? A year has passed since I posted some charts illustrating the incredible ratio of S&P 500 volume devoted to five financial stocks. Today's game is no doubt different from last September. It may be about making money, but it probably has little to do with investing — which may explain a lot about current volume metrics and mutual fund flows. I'll update these volume charts periodically in the months ahead.’

Report From Europe: Fall in U.S. Weekly Jobless Claims Cheers Stocks The Mole … Today is Rosh Hashanah, the jewish New Year, in which it is believed the names of the righteous are recorded in the book of life, those in the middle ground are given ten days to repent and become good, while the wicked are deleted from the book of life. In essence, it is make or break time for the year. One wonders if we might be entering a similar phase for Ireland with landmark decisions over the fate of Anglo Irish Bank taken (with the cost of the funeral to be know in early October) and the funding cliff for Irish banks to refund some €25bn of maturing debt this month pending (though I feel fears over their capacity to roll this debt is way overblown)…   Today’s Market Moving Stories

Figures showed that the July US trade deficit declined more than expected today and reached -$42.8bn. Thus, June’s spurt to $-49.8bn seems to have been a blip in the data. In July, total exports gained M/M 1.8 percent while imports decreased 2.1 percent. As for growth, foreign trade is still set to be a slight drag on GDP in 2010Q3. After all, imports started into Q3 on a very elevated level (and significantly above the 2010Q2 average). However, the drag will be much less than Q2’s -3.4pp.

While US initial jobless claims fell 27k to 451k last week. Claims moved sideways since the start of the year (the average since Jan is 466k), indicating that the improvement on the labour market did make scant headway. All in all, after a long spell of weak data, today’s releases offer some respite.

In a combative speech, Obama conceded his policies have “fed the perception that Washington is still ignoring the middle class,” was billed as a major economic address to unveil a new round of proposals to kick-start a flagging economic recovery. The president did introduce three new policy proposals the White House has been rolling out for nearly a week: $50 billion in additional infrastructure spending, a permanent and expanded research and experimentation tax credit and a measure allowing businesses to write 100 percent of their investment costs off their taxes through 2011. But Mr. Obama’s speech was far more about politics than economics.

ECB chief economist Jurgen Stark tells German MPs that the banking system is insolvent. This led to complete shock because the newspaper headlines from July suggested the opposite. The German policy establishment is under the illusion that its banking system is sound because it passed what turned out to be fraudulent stress test. Jurgen Stark is reported to have told a group of Christian Democrat MPs in Berlin that the German banking sector as a whole is undercapitalised. More controversially, he advised them to privatise the saving banks – the ultimate taboo because the savings banks are consider sacrosanct. FT Deutschland reported that Stark also relayed the assessment of US bankers that the German system could not conceivably survive the introduction of the tougher capital rules of Basel III.

Japan has no choice but to intervene in currency markets to prevent the yen’s strength from decimating the nation’s industry, Barclays Capital said. The yen reached 83.35 versus the dollar yesterday, the highest since May 1995, threatening Japan’s export-led recovery. Industry and jobs won’t likely return from abroad even if the currency weakens eventually, and that prospect may force policy makers to intervene “in the immediate future,” said Tetsufumi Yamakawa, co-head of Japan research at Barclays. “If the yen’s strength lasts at current levels, factories, investment and jobs will all move overseas,” Yamakawa said at a forum in Tokyo yesterday.

·         Australian job growth exceeded forecasts in August, sending the unemployment rate down to 5.1% and driving the nation’s currency higher on speculation the central bank will resume raising interest rates. Employers added 30,900 workers in August, exceeding the median forecast for 25,000 in a Bloomberg News survey of 25 economists, the statistics bureau said in Sydney today. The jobless rate matched the lowest level since January 2009.

Company / Equity News

Home retail issued a second quarter trading update. The group reported a drop in sales of 1.1% at its Homebase division by 1.1% to £396 million, while Argos sales saw a drop of 2.8% to £924m. Argos gross margin declined by 125 bps in the second quarter. Home Retail noted that sales at Homebase beat expectations, while Argos saw improving trends. Overall the company still anticipates a challenging year and as a result expects full-year pretax profit to be at the low end of expectations of £250m – £270m. William Morrison reported first half net profit of £286m compared to analyst expectations of £285m. Revenue of £8.1bn was slightly below consensus of £8.13bn. Morrison increased its dividend by 14% to 1.23p. The group did indicate that it was on track to deliver profit in line with expectations this year, however did note that it expects low market growth in the second half of the year.

Tesco (TESO) remains my preferred play in the UK retail sector due to its lower cost product offering, stable operating margins and international exposure. Another positive for Tesco over the coming years is Tesco Bank that continues to show signs of expansion.

·         BP’s (BP) tumultuous rating from Fitch was yesterday upgraded by three notches to A, with a stable outlook, reflecting “an end to the threat of further leaks from the Macondo well.the improved visibility of potential liability scenarios the company could still face and substantial progress that BP has made to date in building up liquidity to address potential financial payments.” Specifically Fitch estimates that BP’s total pending liabilities could range from a low of $35 billion if BP is cleared of gross negligence and receives a lower range fine under the US Clean Water Act that is shared with its partners; to a high of $67.5 billion if BP is guilty of gross negligence, has to pay the Clean Water Act fines in full and does not receive tax relief for the write-off costs of the spill. However even in the high liability scenario, Fitch considers BP to have “adequate financial resources to meet its obligations to a degree that is commensurate with the current credit rating category.” While Fitch’s action is a positive development, it merely brings the rating in line with S&P and Moody’s. Given that it is almost 3 months since S&P and Moody’s downgraded BP and left it on watch negative, some sort of comment is also due from these two agencies, and although the developments have been positive since June, I am not expecting an upgrade in the near future.

Separately yesterday, BP published its investigation report on the causes of the Gulf of Mexico tragedy. The report blames “decisions made by multiple companies and work teams.a complex and interlinked series of mechanical failures, human judgments, engineering design, operational implementation and team interfaces” and identifies some key findings that led to the disaster. While BP does accept some responsibility for the accident, unsurprisingly BP is pointing the finger of blame firmly in the direction of its contractors Halliburton (HAL) and Transocean (RIG), and the report claims there was nothing wrong with the well design. Transocean and Halliburton will come up with their own version of events, and have already criticized the report. There are also various government investigations ongoing, although this does at least highlight how difficult it will be proving negligence on the part of BP.

The equity round up sections of the FT and Daily Telegraph amongst others carried reports that Adecco (AHEXF.PK), Manpower (MAN) and Randstad (separately) were weighing up a 140p to 150p bid for the UK based recruitment group Hays. This would value Hays at just north of £2 billion. Adecco made an unsuccessful bid for Hays in 2008, so renewed interest is not totally out of the question. However, a bid would require a substantial equity slug to enable Adecco to retain investment grade status, which debt funders as well as the Company are likely to require/desire

·         Visa (V), the world’s largest payments network, posted the biggest drop in the Standard & Poor’s 500 Index after Bank of America Corp.’s James Kissane became the first analyst to recommend avoiding the shares. “We are among the only skeptics on the networks,” Kissane said today in a note to clients as he cut the shares to “underperform” from “neutral.” That’s typically interpreted as a sell recommendation, the only one among 38 analysts surveyed by Bloomberg. “The pricing power of the networks is likely to be considerably diminished,” he wrote.

Shares of several companies that make light-emitting diodes and related equipment slumped Wednesday as fears resurfaced about weakening demand for equipment such as liquid crystal display screens that use the LED bulbs. Shares of LED-maker Cree Inc. (CREE) closed down 8.1% to $50.18, Veeco Instruments (VECO) fell 8.3% to $33.44 and Aixtron (AIXG) was 5.3% lower at $24.78. The latter two companies manufacture equipment for building the bulbs. In recent late trading, Cree and Veeco shares are unchanged while Aixtron is down to $24.72. Analysts blamed a combination of poor demand for LEDs and the products that use them, oversupply of the bulbs and a slowdown in the influential Asian LED market for the tumble. Avian Securities LLC’s downgrade of Veeco and Aixtron from positive to neutral was also blamed for the slide. Concerns over demand for LEDs have surfaced before, with shares of Veeco, Aixtron and Cree suffering from a similar bout of weakness last month, following a report by a Taiwanese newspaper that said makers of flat screens were cutting orders to LED makers.

Intel (INTC) will show off its first chip design that has graphics capabilities built into the processor, stepping up a threat to Advanced Micro Devices Inc. (AMD) and Nvidia Corp (NVDA). Chief Executive Officer Paul Otellini will demonstrate the product next week at the Intel Developer Forum in San Francisco, the company said. The design, known as Sandy Bridge, will go into production next quarter and become the basis for Intel’s entire lineup.

Google (GOOG) has unveiled a faster Internet search feature that gives users results as they type in requests. Google Instant saves 2 to 5 seconds per search and will be available today on the Chrome, Firefox, Safari and Internet Explorer 8 browsers in the U.S., Vice President Marissa Mayer said at a press event in San Francisco. A mobile version should be rolling out in the next few months, she said.

Dana Petroleum (DNPXF.PK) has sent an e- mail to Korea National Oil Corp. to say it is still willing to negotiate and agree to a takeover of the Scottish oil explorer, the Financial Times reported, without attribution. Chief Executive Officer Tom Cross sent a letter to KNOC after Dana made a defense of its value and argued it is worth more than KNOC’s 1,800 pence-a-share offer, the FT said.

FTSE Group, announced Wednesday that investment firm Resolution, global engineering and manufacturing group Tomkins (TKS) and engineering solutions business Weir Group will be joining the FTSE 100 Index. MAIN FACTS: In the rebalance, Cable and Wireless Worldwide, Home Retail Group and Segro will leave the U.K.’s leading blue chip Index and join the FTSE 250 Index. Companies that will be joining the FTSE 250 Index will be Segro, Home Retail Group, Cable and Wireless Worldwide, Phoenix Group Holdings, Jupiter Fund Management, Ocado Group, Kenmare Resources, and Avis Europe. Companies that will be leaving the FTSE 250 Index will be Resolution, Tomkins, Weir Group, Hansteen Holdings, Gem Diamonds, Eaga, Promethean World, and Game Group. -All changes from this review will be implemented at the close of business September 17 and will take effect from the start of trading on September 20.

Worth a read: Michael Lewis has a field day: Beware of Greeks Bearing Bonds (Vanity Fair)

Tiny tim geithner Says China Needs to Let Market Drive Up Yuan Bloomberg | U.S. Treasury Secretary Tiny tim geithner said China must let the yuan rise more quickly to show trading partners that it’s following through on its promises [ Riiiiight! … Everyone’s just clamoring for american advice on the global meltdown precipitated by ‘american advice and consent’.]

Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 Matthias Chang | Quantitative Easing spearheaded by the Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

“I Am Jim Cramer And I Approve Of The President’s Message (Because The Market Moved Up By 3 Points)” There are women (and men) who will do anything for a price. Then there is Jim Cramer.

Jim Sinclair: Strap In For Gold’s Move To $1650 By January Now that expectations for Gold at very significant prices are being offered by various rational sources, there is one thing you can be sure of. That one thing is $1650.

Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.

Castro Admits Communist Economics a Failure

Pastor Terry Jones Calls off Koran Burning, Ground Zero Mosque May Be Moved Pastor Terry Jones today canceled his plan to burn Korans at his Florida church after claiming he has struck a deal with a New York Muslim cleric to relocate the so-called Ground Zero mosque.

UN Blueprint: Dismantle Middle Class, Build World Government A UN blueprint for putting the organization back at the forefront of global governance alarmingly reveals the agenda to re-brand global warming as “overpopulation” as a means of dismantling the middle classes while using “global redistribution of wealth” and increased immigration to reinvigorate the pursuit of a one world government.

US soldier ‘kept Afghan body parts’ At least two of the five US soldiers charged in the deaths of three Afghan civilians had kept body parts taken from Afghan corpses and threatened subordinates, according to new documents released by the US army.

Random Pat-Downs Turn PATCO Into Police State “We can conduct any kind of search we want,” said McClintock. “We could ask TSA to bring wands or X-ray machines like they have in airports, though we don’t think that’s appropriate for PATCO riders at this time.”

Gerald Celente Calls Out General Petraeus On Koran Warning Hypocrisy “You hear someone like General Petraeus saying burning the Koran could be dangerous to American troops – hey General Petraeus – how about invading Arab countries and occupying them and killing innocent people? You think that could be dangerous to American troops? Oh no no, our foreign policy has nothing to do with this – they don’t like Americans because we go to Disneyland and shop at Walmart.”

Ground Zero Mosque Imam: If You Don’t Build It, They Will Attack Moving the project to another location would strengthen Islamist radicals’ ability to recruit followers and will likely increase violence against Americans, the imam said.”

Clinton Talks World Government at the Council On Foreign Relations Kurt Nimmo | Simply substitute the phrase “American leadership” with “leadership by the globalist cabal.”

Barack Obama: Puppet on a String Jurriaan Maessen | The United States is unfolding an agenda that has been pushed for by international banks in conjunction with the CIA.

Business as Usual: Fed Court Slaps Down Torture Lawsuit Against CIA Kurt Nimmo | Once again, national security trumps the rule of law and the corporate media provides cover.

UN Blueprint: Dismantle Middle Class, Build World Government Paul Joseph Watson | Globalists set out agenda to re-brand global warming as overpopulation in bid to impose carbon taxes.

Claims of Recovery But Results Nowhere To Be Found Bob Chapman | The American public is alarmed at what they see going on.

`Drudgereport: GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR WEEK...`
`'BETTER THAN EXPECTED'...`

`Treasuries Tumble Following Weak 30-Year Sale...`

600 Lockheed execs take buyout (Washington Post) [ Talk about having your fingers on the economic / fiscal pulse of the nation. This should be a new leading economic indicator which, unlike many of the others, is less prone to manipulation. All hail, the ‘golden goose’ is dead! `Drudgereport: MORGAN STANLEY: U.S. Government Bond Defaults Inevitable …`    This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ] The move reflects a shift underway as defense contractors scramble to prepare for Pentagon budget cuts.

Reform's unexpected fallout (Washington Post) [ Riiiiight! That reform thing … everything but prosecution of the perps who are back to their churn and earn ways as some of their worthless paper moving ways have been legislatively sanctioned / adopted in the form of mark to anything valuation of worthless assets / paper which debacle is waiting to rear that ugly head! ] Nation's battle for regulatory reform wasn't supposed to have this kind of collateral damage. But the new law is threatening the existence of a day-care center, which has operated for 24 years in the District.

U.S. drops in competitiveness (Washington Post) [ Singapore, Sweden, … ? Don’t make me laugh! From defacto bankrupt, meaningfully lawless america’s perspective, this fallen ranking was a gift and one must be asking, what were they smoking (or whose money were they taking?) and is the rest of the world really that bad off? ] Large deficits and a weakened financial system make the U.S. less competitive in the global economy, according to World Economic Forum's new ranking.

Afghans question U.S.-style capitalism (Washington Post) [ As indeed they should inasmuch as the same is neither capitalism nor american style in the traditional sense referenced here. Defacto bankrupt, in decline, and pervasively corrupt, meaningfully lawless america is a nation unworthy of emulation! ]   Kabul Bank became the pride of Afghanistan's financial system by offering the conveniences and thrills of 21st-century capitalism. But the scene outside the bank's headquarters Wednesday was far from that modern ideal.

Fed sees widespread slowdown of growth (Washington Post) [ Stocks rally anyway … the ‘miracle of computerized programmed trading’ even if the math and fundamentals don’t add up …

Bad Math - Why The Bullish Case Doesn't Add Up Simon Maierhofer, On Wednesday September 8, 2010, 3:19 pm EDT
1+1=2     2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation? Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices
Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As we've seen in January and April of 2010, positive earnings reports are not bullish for stocks, especially if future guidance is weak.
2+2=5 or Weaker than Expected Economy = Rising Stock Prices
On July 30, the Bureau of Economic Analysis (BEA) lowered the Q2 Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. On August 27, the Q2 GDP was lowered further to a jaw-dropping 1.6%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?
3+3=7 or Positive Analyst Estimates = Higher Stock Prices
A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Direxion Daily Financial Bull 3X Shares (NYSEArca: FAS - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News).

If you care to know, until recently, analysts estimated that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?
4+4=9 or Technical Sell Signals = Higher Stock Prices
The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. [chart] In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).
5+5=11 or Overvalued Stocks = Higher Prices
As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped and overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market bottoms. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.

Report From Europe: Panic Amongst the PIIGS (Seeking Alpha – The Mole) [ Sounds far from hunky-dory to me and as the wall street frauds would have you believe and used as a rallying point this day. Total b s! ] ‘U.S. stocks fell for the first time in five days Tuesday, ending the longest streak of gains for the S&P 500 Index since July, on concern the European debt crisis may worsen and hamper global growth. Bank of America (BAC) and Citigroup (C) fell at least 2% as European banks slid on concern stress tests understated potential losses from sovereign debt. Meanwhile ConocoPhillips (COP) and Chevron (CVX) slumped more than 1.2% as crude oil fell the most in a week. But Oracle (ORCL) rallied 5.9% after naming Mark Hurd, former chief executive officer of Hewlett-Packard (HPQ) as president. Today, despite some token buying by the ECB and a decent Portuguese bond auction, the bond vigilantes have again been out doing their worst pushing the Irish / German 10 year spread out to levels not seem since 1988 when the debt GDP ratio was 118% . Indeed yesterday saw the worst single daily performance by Irish Government bonds ever in terms of spread widening. Greece is also back in the crosshairs in response to a downward revision to Q2 Greek GDP to -1.8% from -1.5% originally, and on news the National Bank of Greece plans to raise Eur2.8 bln of capital. The latter may be especially alarming in the current environment, but really reflects a desire for extra security and also a cash hoard to potentially spend on weaker rivals. ATEbank stands prominently in this respect. (picture)
Today’s Market Moving Stories
The stand-out mover in FX today was GBP, which rallied sharply, largely it would seem on news that Vodafone (VOD) has sold its stake in China Mobile and intends to use 70% of the proceeds (£4.2bn) to fund share buybacks. The macros community had started to build GBP shorts in recent days and this M&A flow prompted a flurry of short-covering, assisted as well by better than feared Halifax house price data.
Irish Banking
According to the Irish Times this morning, the bank’s chairman has stated that a statement on Anglo should be expected today. Who will make it or what the nature of the announcement will be is not evident, but keep eyes peeled around 4pm. Recent media reports have indicated strongly that an orderly wind down of the bank over 10-15yrs is the new preferred option. But what the markets are really looking for is an update on the total FINAL bottom line kitchen sink cost of the bailout and whether its closer to Eur 25bn or S&P’s recent & much criticized Eur 35bn figure. UPDATE – SEE VERY BOTTOM OF THIS POST. Bloomberg reports that private equity heavyweight J.C. Flowers and three other bidders for Ireland’s EBS Building Society may buy and merge several lenders to create a new competitor to the country’s biggest banks, two people familiar with the situation said. J.C. Flowers., the U.S. buyout firm, Dublin-based Cardinal Asset Management, backed by U.S. private equity firm Carlyle Group, and Doughty Hanson & Co. are vying with Irish Life & Permanent Plc (ILPMF.PK) to take control of EBS, said the people who declined to be identified. Each of the bidders said in talks that they plan to merge EBS, the country’s biggest customer-owned lender, with other building societies. That would create a new rival to Bank of Ireland Plc (IRE) and Allied Irish Banks Plc (AIB), the country’s biggest lenders. EBS and the National Treasury Management Agency, which is overseeing the sale, will probably select a preferred bidder or two short-listed bidders next week, according to one of the people.
Japan
Japanese Finance Minister Yoshihiko Noda said he is prepared to take “bold” action on currencies, including intervention in foreign-exchange markets, after the yen reached a 15-year high against the dollar. “We will take bold action if necessary and naturally that can include intervention,” Noda told lawmakers in parliament today. “We have to use every option available as a strong yen is likely to have a severe impact on companies.” The yen rose to 83.52 per dollar yesterday, the highest level since June 1995, as concerns about weakening growth in the U.S. and Europe bolstered the currency’s appeal as a refuge.
UK Outlook
A U.K. index of hiring for permanent jobs in August showed the slowest growth pace in 10 months, KPMG LLP and the Recruitment and Employment Confederation said. The gauge of full-time job placements dropped to 56.3 from 60.2 in July, the groups said in an e-mailed report today in London. That’s the slowest pace since October. Readings above 50 indicate an increase in hiring. The U.K. is bracing itself for a period of austerity as Prime Minister David Cameron pledges to reduce the country’s record budget deficit. U.K. shop price inflation accelerated in August as the price of food rose at the quickest annual pace in over a year, a survey showed Tuesday. Total shop price inflation was 1.7% on the year in August and 0.1% on the month, compared with a 1.5% annual rate and 0.1% monthly decline in prices in July, the monthly survey by the British Retail Consortium showed. That was due to a more-than-one percentage point rise in the cost of food. Food prices were 3.8% higher in August than a year earlier, while food prices rose 0.2% from July. And July’s UK industrial production figures suggest that the manufacturing sector continues to enjoy steady, if unspectacular, growth. The 0.3% rise in manufacturing output was the third such gain in a row and pushed the yoy rate of output growth up to a new cycle high of 4.9%. Overall industrial production saw a similar monthly gain. For now, then, the output data are defying the rather gloomier tone of some of the recent industrial surveys, such as last week’s CIPS report on manufacturing. But it is worth remembering that the surveys normally lead the hard data by a few months, so it would be no surprise if output growth were to start to weaken over the next few months. And even if output posts similar increases in August and September, industry won’t make as strong a contribution to GDP growth in Q3 as it did in Q2. Overall, UK industry is still doing pretty well, but it may not last too much longer. (picture)

Company / Equity News

UK homebuilder Berkeley Group has issued an interim management statement this morning covering the period from 1st May 2010 to 31st August 2010. The group pointed out that demand for properties over the period has been resilient, particularly in London which has a shortage of supply and specific demand from international purchasers. Outside of London, which is more reliant on the UK domestic economy, a lack of credit availability and weak consumer confidence is weighing on transactions currently.

Barratt Developments also reported full year results this morning. The group reported a full-year loss of £118.4m compared to a loss of £468.6m. Market expectations were for a loss of £125m. Revenue declined by 11% to 2.04bn with the group selling 11,377 homes during the period, compared with 13,277 last year. The group’s operating margin increased to 5.9% from 1.8% a year earlier. The group expects a ‘modest’ increase in average selling price this year, however the group noted that the outlook for new housing ‘remains challenging’. For clients looking for exposure to a UK home builder, Persimmon is my preferred play.

Securities firms (investment banks) around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, said Meredith Whitney, the former Oppenheimer & Co. analyst who now runs her own firm. The reductions, about 10 percent of current levels, will come after 2010 compensation payments. “The key product drivers of Wall Street’s revenues and profits over the past decade have been in a structural decline over the past three years,” Whitney said in the report. “2010 marks the first year in many in which Wall Street-centric firms will go through structural changes.”

Vodafone’s $6.6 billion sale of its stake in China Mobile Ltd. is the biggest divestment since Chief Executive Officer Vittorio Colao took charge in 2008. Investors want to know what’s next. Vodafone sold its 3.2 percent stake in China’s largest mobile phone company today. About 70 percent of the proceeds will be returned to shareholders through a stock repurchase and the rest will be used to pay down debt, Newbury, England-based Vodafone said in a statement yesterday.

Nokia Oyj, the world’s biggest maker of mobile phones, has a lot riding on its annual showcase event next week as it tries to claw back lost ground to Apple Inc.’s (AAPL) iPhone and devices based on Google’s (GOOG) Android software. The Finnish company is likely to focus attention at Nokia World in London on its high-end Symbian smartphone line, including the touch screen N8, its latest effort to take on Android and iPhone handsets.

Google’s CEO Eric Schmidt said the company plans to extend its Web television service from U.S. viewers to global consumers in 2011. Google has an agreement with Sony Corp. (SNE) to launch Web TV in the U.S. this fall, while Samsung Electronics Co. (SSNLF.PK), the world’s largest television manufacturer, said today it may make sets run by Google’s software to compete with Sony and Apple Inc. in the market for TVs that access movies, shows and games online.

The life of Germany’s nuclear power plants will be extended by up to 15 years under a deal agreed between energy companies and the government of Chancellor Angela Merkel. Germany’s energy giants will pay [euro]15 billion to fund research into renewable energy and Berlin will, in return, set aside a 2000 agreement forced by the Schroder government to wind down all nuclear energy plants by 2025.

According to the FT, Ryanair (RYAAY) may return to the market for a purchase of up to 300 airplanes, the Financial Times said late Tuesday, citing an interview with chief executive Michael O’ Leary. O’Leary told the FT his company also plans on writing to aviation authorities asking to use a single pilot for short-haul flights, the report on the FT website said.

Evidence emerged yesterday that the strained relations of late between Tullow (TUWOY.PK) and the Ugandan Government over the issue of tax arising from the Heritage Oil transaction eased somewhat based on comments attributed to the Energy Minister. Questioned on the Government stance regarding the recently rescinded Kingfisher licence in Block 3A and Tullow’s ability to redress the situation, the Energy Minister appeared to soften the Government position indicating a favorable response should Tullow apply.

Dana Petroleum (DNPXF.PK) offered a strong defence this morning against the unsolicited offer of £18 per share from the Korean National Oil Company (KNOC) and also announced the widely anticipated acquisition of Petro-Canada’s UK assets for a cash consideration of £240m ($372m).

And finally UPDATE – Text of announcement on Anglo Irish
The Minister for Finance today briefed his Government colleagues on the strategic options for the future of Anglo Irish Bank. The Minister conveyed to the Government the views of the Board of Anglo Irish Bank, the Central Bank, the National Treasury Management Agency, the Department of Finance, the EU Commission and his own assessment of the position.The Government decided that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised in early 2009 and this will remain the case. It is intended that in due course the Recovery Bank will be sold in whole or in part or that its assets will be run off over a period of time. The guaranteed position of depositors will be unchanged by the new arrangements and no action is required of them as a result of today’s announcement. The depositors will become customers of the Funding Bank which will be fully capitalized and continue as a regulated bank. In order to restore the reputation of the Irish Financial System it is essential to bring finality to the problem of Anglo Irish Bank – our most distressed institution. The Government’s primary objective in dealing with Anglo Irish Bank has been to minimise the cost of this distressed bank to the Irish taxpayer. The Board of Anglo Irish Bank submitted its preferred option to the Minister and to the European Commission at the end of May for consideration under State Aid rules. The board’s plan envisaged splitting the bank into an asset management company and a new good bank. The asset management company would have managed out over time the bank’s lower quality assets remaining after the transfers to NAMA. The new good bank would have managed the remaining share of the loan book, retained the bank’s deposit funding and sought new lending opportunities to grow the bank. The Minister acknowledges the good faith and hard work of the board in producing a credible proposal for the future of the bank. However, the Government has concluded that this plan in its current form does not now provide the most viable and sustainable solution to ensure the continued stability of the Irish banking system.
Resolution Proposal
In these circumstances, the Government has decided to opt for a variation of the board’s restructuring proposal. The Government’s decision does not affect existing guarantee arrangements. Under the restructuring plan, the Funding Bank will be a Government-backed/guaranteed specialist deposit bank which will contain the bank’s deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the Minister for Finance. This bank will not engage in any lending, but will provide a secure home for Anglo’s depositors and any new customers who wish to deposit their funds with it. Depositors with the Funding Bank will be completely insulated from the future performance of the rest of the current Anglo Irish Bank loan book. The Asset Recovery Bank will also be a licensed regulated bank. Its dedicated focus will be on the work-out over a period of time of the assets not being transferred to NAMA in a manner which maximises the return to the taxpayer.
Costs
The Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank will determine the appropriate levels of capital needed in both institutions. Its decision will be announced by October.
EU Commission
The Department of Finance has conducted intensive discussions with the EU Commission in recent weeks about the future of Anglo Irish Bank. The Minister for Finance met Commissioner Almunia last Monday to discuss the issue. A formal detailed plan is being prepared for submission to the Commission for approval.
The Minister said: “Today’s decision by the Government will provide certainty about the future of Anglo Irish Bank. Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system.”
8th September 2010
ENDS
Brian Meenan
Press Office
PH: 6045875
email: [email protected] ‘

Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

So Broke We Can’t Pay Attention Howard Beale | You spent the whole day yesterday worrying about today, and now that it’s here, was it worth it?

The Financial Industry Is A ‘Gigantic Parasite’ We Don’t Need Anymore Vincent Fernando | Strong words from ex-Morgan Stanley Andy Xie.

9-8-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Bad Math - Why The Bullish Case Doesn't Add Up Simon Maierhofer, On Wednesday September 8, 2010, 3:19 pm EDT
1+1=2     2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation? Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices
Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As we've seen in January and April of 2010, positive earnings reports are not bullish for stocks, especially if future guidance is weak.
2+2=5 or Weaker than Expected Economy = Rising Stock Prices
On July 30, the Bureau of Economic Analysis (BEA) lowered the Q2 Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. On August 27, the Q2 GDP was lowered further to a jaw-dropping 1.6%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?
3+3=7 or Positive Analyst Estimates = Higher Stock Prices
A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Direxion Daily Financial Bull 3X Shares (NYSEArca: FAS - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News).

If you care to know, until recently, analysts estimated that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?
4+4=9 or Technical Sell Signals = Higher Stock Prices
The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. [chart] In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).
5+5=11 or Overvalued Stocks = Higher Prices
As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped and overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market bottoms. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.

Report From Europe: Panic Amongst the PIIGS (Seeking Alpha – The Mole) [ Sounds far from hunky-dory to me and as the wall street frauds would have you believe and used as a rallying point this day. Total b s! ] ‘U.S. stocks fell for the first time in five days Tuesday, ending the longest streak of gains for the S&P 500 Index since July, on concern the European debt crisis may worsen and hamper global growth. Bank of America (BAC) and Citigroup (C) fell at least 2% as European banks slid on concern stress tests understated potential losses from sovereign debt. Meanwhile ConocoPhillips (COP) and Chevron (CVX) slumped more than 1.2% as crude oil fell the most in a week. But Oracle (ORCL) rallied 5.9% after naming Mark Hurd, former chief executive officer of Hewlett-Packard (HPQ) as president. Today, despite some token buying by the ECB and a decent Portuguese bond auction, the bond vigilantes have again been out doing their worst pushing the Irish / German 10 year spread out to levels not seem since 1988 when the debt GDP ratio was 118% . Indeed yesterday saw the worst single daily performance by Irish Government bonds ever in terms of spread widening. Greece is also back in the crosshairs in response to a downward revision to Q2 Greek GDP to -1.8% from -1.5% originally, and on news the National Bank of Greece plans to raise Eur2.8 bln of capital. The latter may be especially alarming in the current environment, but really reflects a desire for extra security and also a cash hoard to potentially spend on weaker rivals. ATEbank stands prominently in this respect. (picture)
Today’s Market Moving Stories
The stand-out mover in FX today was GBP, which rallied sharply, largely it would seem on news that Vodafone (VOD) has sold its stake in China Mobile and intends to use 70% of the proceeds (£4.2bn) to fund share buybacks. The macros community had started to build GBP shorts in recent days and this M&A flow prompted a flurry of short-covering, assisted as well by better than feared Halifax house price data.
Irish Banking
According to the Irish Times this morning, the bank’s chairman has stated that a statement on Anglo should be expected today. Who will make it or what the nature of the announcement will be is not evident, but keep eyes peeled around 4pm. Recent media reports have indicated strongly that an orderly wind down of the bank over 10-15yrs is the new preferred option. But what the markets are really looking for is an update on the total FINAL bottom line kitchen sink cost of the bailout and whether its closer to Eur 25bn or S&P’s recent & much criticized Eur 35bn figure. UPDATE – SEE VERY BOTTOM OF THIS POST. Bloomberg reports that private equity heavyweight J.C. Flowers and three other bidders for Ireland’s EBS Building Society may buy and merge several lenders to create a new competitor to the country’s biggest banks, two people familiar with the situation said. J.C. Flowers., the U.S. buyout firm, Dublin-based Cardinal Asset Management, backed by U.S. private equity firm Carlyle Group, and Doughty Hanson & Co. are vying with Irish Life & Permanent Plc (ILPMF.PK) to take control of EBS, said the people who declined to be identified. Each of the bidders said in talks that they plan to merge EBS, the country’s biggest customer-owned lender, with other building societies. That would create a new rival to Bank of Ireland Plc (IRE) and Allied Irish Banks Plc (AIB), the country’s biggest lenders. EBS and the National Treasury Management Agency, which is overseeing the sale, will probably select a preferred bidder or two short-listed bidders next week, according to one of the people.
Japan
Japanese Finance Minister Yoshihiko Noda said he is prepared to take “bold” action on currencies, including intervention in foreign-exchange markets, after the yen reached a 15-year high against the dollar. “We will take bold action if necessary and naturally that can include intervention,” Noda told lawmakers in parliament today. “We have to use every option available as a strong yen is likely to have a severe impact on companies.” The yen rose to 83.52 per dollar yesterday, the highest level since June 1995, as concerns about weakening growth in the U.S. and Europe bolstered the currency’s appeal as a refuge.
UK Outlook
A U.K. index of hiring for permanent jobs in August showed the slowest growth pace in 10 months, KPMG LLP and the Recruitment and Employment Confederation said. The gauge of full-time job placements dropped to 56.3 from 60.2 in July, the groups said in an e-mailed report today in London. That’s the slowest pace since October. Readings above 50 indicate an increase in hiring. The U.K. is bracing itself for a period of austerity as Prime Minister David Cameron pledges to reduce the country’s record budget deficit. U.K. shop price inflation accelerated in August as the price of food rose at the quickest annual pace in over a year, a survey showed Tuesday. Total shop price inflation was 1.7% on the year in August and 0.1% on the month, compared with a 1.5% annual rate and 0.1% monthly decline in prices in July, the monthly survey by the British Retail Consortium showed. That was due to a more-than-one percentage point rise in the cost of food. Food prices were 3.8% higher in August than a year earlier, while food prices rose 0.2% from July. And July’s UK industrial production figures suggest that the manufacturing sector continues to enjoy steady, if unspectacular, growth. The 0.3% rise in manufacturing output was the third such gain in a row and pushed the yoy rate of output growth up to a new cycle high of 4.9%. Overall industrial production saw a similar monthly gain. For now, then, the output data are defying the rather gloomier tone of some of the recent industrial surveys, such as last week’s CIPS report on manufacturing. But it is worth remembering that the surveys normally lead the hard data by a few months, so it would be no surprise if output growth were to start to weaken over the next few months. And even if output posts similar increases in August and September, industry won’t make as strong a contribution to GDP growth in Q3 as it did in Q2. Overall, UK industry is still doing pretty well, but it may not last too much longer. (picture)

Company / Equity News

UK homebuilder Berkeley Group has issued an interim management statement this morning covering the period from 1st May 2010 to 31st August 2010. The group pointed out that demand for properties over the period has been resilient, particularly in London which has a shortage of supply and specific demand from international purchasers. Outside of London, which is more reliant on the UK domestic economy, a lack of credit availability and weak consumer confidence is weighing on transactions currently.

Barratt Developments also reported full year results this morning. The group reported a full-year loss of £118.4m compared to a loss of £468.6m. Market expectations were for a loss of £125m. Revenue declined by 11% to 2.04bn with the group selling 11,377 homes during the period, compared with 13,277 last year. The group’s operating margin increased to 5.9% from 1.8% a year earlier. The group expects a ‘modest’ increase in average selling price this year, however the group noted that the outlook for new housing ‘remains challenging’. For clients looking for exposure to a UK home builder, Persimmon is my preferred play.

Securities firms (investment banks) around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, said Meredith Whitney, the former Oppenheimer & Co. analyst who now runs her own firm. The reductions, about 10 percent of current levels, will come after 2010 compensation payments. “The key product drivers of Wall Street’s revenues and profits over the past decade have been in a structural decline over the past three years,” Whitney said in the report. “2010 marks the first year in many in which Wall Street-centric firms will go through structural changes.”

Vodafone’s $6.6 billion sale of its stake in China Mobile Ltd. is the biggest divestment since Chief Executive Officer Vittorio Colao took charge in 2008. Investors want to know what’s next. Vodafone sold its 3.2 percent stake in China’s largest mobile phone company today. About 70 percent of the proceeds will be returned to shareholders through a stock repurchase and the rest will be used to pay down debt, Newbury, England-based Vodafone said in a statement yesterday.

Nokia Oyj, the world’s biggest maker of mobile phones, has a lot riding on its annual showcase event next week as it tries to claw back lost ground to Apple Inc.’s (AAPL) iPhone and devices based on Google’s (GOOG) Android software. The Finnish company is likely to focus attention at Nokia World in London on its high-end Symbian smartphone line, including the touch screen N8, its latest effort to take on Android and iPhone handsets.

Google’s CEO Eric Schmidt said the company plans to extend its Web television service from U.S. viewers to global consumers in 2011. Google has an agreement with Sony Corp. (SNE) to launch Web TV in the U.S. this fall, while Samsung Electronics Co. (SSNLF.PK), the world’s largest television manufacturer, said today it may make sets run by Google’s software to compete with Sony and Apple Inc. in the market for TVs that access movies, shows and games online.

The life of Germany’s nuclear power plants will be extended by up to 15 years under a deal agreed between energy companies and the government of Chancellor Angela Merkel. Germany’s energy giants will pay [euro]15 billion to fund research into renewable energy and Berlin will, in return, set aside a 2000 agreement forced by the Schroder government to wind down all nuclear energy plants by 2025.

According to the FT, Ryanair (RYAAY) may return to the market for a purchase of up to 300 airplanes, the Financial Times said late Tuesday, citing an interview with chief executive Michael O’ Leary. O’Leary told the FT his company also plans on writing to aviation authorities asking to use a single pilot for short-haul flights, the report on the FT website said.

Evidence emerged yesterday that the strained relations of late between Tullow (TUWOY.PK) and the Ugandan Government over the issue of tax arising from the Heritage Oil transaction eased somewhat based on comments attributed to the Energy Minister. Questioned on the Government stance regarding the recently rescinded Kingfisher licence in Block 3A and Tullow’s ability to redress the situation, the Energy Minister appeared to soften the Government position indicating a favorable response should Tullow apply.

Dana Petroleum (DNPXF.PK) offered a strong defence this morning against the unsolicited offer of £18 per share from the Korean National Oil Company (KNOC) and also announced the widely anticipated acquisition of Petro-Canada’s UK assets for a cash consideration of £240m ($372m).

And finally UPDATE – Text of announcement on Anglo Irish
The Minister for Finance today briefed his Government colleagues on the strategic options for the future of Anglo Irish Bank. The Minister conveyed to the Government the views of the Board of Anglo Irish Bank, the Central Bank, the National Treasury Management Agency, the Department of Finance, the EU Commission and his own assessment of the position.The Government decided that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised in early 2009 and this will remain the case. It is intended that in due course the Recovery Bank will be sold in whole or in part or that its assets will be run off over a period of time. The guaranteed position of depositors will be unchanged by the new arrangements and no action is required of them as a result of today’s announcement. The depositors will become customers of the Funding Bank which will be fully capitalized and continue as a regulated bank. In order to restore the reputation of the Irish Financial System it is essential to bring finality to the problem of Anglo Irish Bank – our most distressed institution. The Government’s primary objective in dealing with Anglo Irish Bank has been to minimise the cost of this distressed bank to the Irish taxpayer. The Board of Anglo Irish Bank submitted its preferred option to the Minister and to the European Commission at the end of May for consideration under State Aid rules. The board’s plan envisaged splitting the bank into an asset management company and a new good bank. The asset management company would have managed out over time the bank’s lower quality assets remaining after the transfers to NAMA. The new good bank would have managed the remaining share of the loan book, retained the bank’s deposit funding and sought new lending opportunities to grow the bank. The Minister acknowledges the good faith and hard work of the board in producing a credible proposal for the future of the bank. However, the Government has concluded that this plan in its current form does not now provide the most viable and sustainable solution to ensure the continued stability of the Irish banking system.
Resolution Proposal
In these circumstances, the Government has decided to opt for a variation of the board’s restructuring proposal. The Government’s decision does not affect existing guarantee arrangements. Under the restructuring plan, the Funding Bank will be a Government-backed/guaranteed specialist deposit bank which will contain the bank’s deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the Minister for Finance. This bank will not engage in any lending, but will provide a secure home for Anglo’s depositors and any new customers who wish to deposit their funds with it. Depositors with the Funding Bank will be completely insulated from the future performance of the rest of the current Anglo Irish Bank loan book. The Asset Recovery Bank will also be a licensed regulated bank. Its dedicated focus will be on the work-out over a period of time of the assets not being transferred to NAMA in a manner which maximises the return to the taxpayer.
Costs
The Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank will determine the appropriate levels of capital needed in both institutions. Its decision will be announced by October.
EU Commission
The Department of Finance has conducted intensive discussions with the EU Commission in recent weeks about the future of Anglo Irish Bank. The Minister for Finance met Commissioner Almunia last Monday to discuss the issue. A formal detailed plan is being prepared for submission to the Commission for approval.
The Minister said: “Today’s decision by the Government will provide certainty about the future of Anglo Irish Bank. Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system.”
8th September 2010
ENDS
Brian Meenan
Press Office
PH: 6045875
email: [email protected] ‘

Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

`Petraeus Speaks Out on Quran Burning...`
`Endangers Troops...`
`Pastor Says Church Not Deterred...`
`Hartford City Council meetings to begin with Muslim prayers...`
2 SOLDIERS KILLED IN IRAQ, 9 WOUNDED*

`ADDICTED TO STIMULUS: $50,000,000,000 MOREDems wary of WH's huge new spending plan...`
`Obama takes aim at Boehner...`    `'They talk about me like a dog'… [ If the shoe fits ...`     President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.” ]

`'They talk about me like a dog'...`
`FLASHBACK: President-Elect Obama: Mutt 'Like Me'... 'Even liberal elites concede that Obama's presidency is crumbling'...`
`BARONE: Sinking with Obama, Democrats plan political triage...`

`Muslims Protest Plans to Burn Quran...`
`'Death to America'...`

`Fears rise as EU nations aim to raise borrowing... Roubini: More than 400 US Banks Will Fail...`

`'COMBAT OVER': US TROOPS BATTLE IN BAGHDAD...`

9-7-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Why the Furious Bear Will Come Back - Simon Maierhofer, On Tuesday September 7, 2010, 4:34 pm ‘The Top Ten List has become a staple of David Letterman's Late Show. We don't quite have the space to discuss ten reasons why the bear market isn't over (if we did, we'd probably put you to sleep), but we'll take a crack at a Top Five List. Without further ado, here it is:

#1: Forget About Earnings

Using past earnings numbers to project future performance is like basing your Roulette bet on the numbers that won previously. Old numbers simply don't have the crystal-ball-like properties needed to foretell the future.

Just because last quarters earnings were good, doesn't mean the balance of 2010 will be good. In fact, there is reason to believe that the next earnings season won't be so rosy.

Retail sales, which make up about one third of the economy, fell in May and June. This can't be good for future profits. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year.

Even if earnings continue to rise, the January and April earnings season have shown that stocks (NYSEArca: VTI - News) can drop significantly despite great earnings (see chart below). [chart]

#2: Budget Deficits

The 2011 U.S. deficit projection for 2011 was raised from $1.2 trillion to $1.4 trillion. How much is one trillion? For $1 trillion, you buy 40,000,000 VW Jettas at a price tag of $25,000 each. You could buy 5,574,136 houses at the median price tag for existing single-family homes ($179,400). You could buy the star power of LeBron James for the next 50,000 years. You could pay the annual salaries of all 535 members of the Congress for the next 10,742 years, or the annual salary of 14.7 million teachers.

Every entity deals differently with budget deficits. The state of California, a state with a $1.8 trillion economy, is planning to cut state workers salary. As many as 200,000 state workers could be reduced to receive minimum wage salaries. It doesn't take an economics Professor to determine how bad that will be for the economy.

#3: Banks - Nothing but Fluff

Back in 2008, the ETF Profit Strategy Newsletter considered financials a 'downward spiral with no stop-loss provision' and recommended to short the financial sector via the Direxion Daily Financial Bear 3X Shares (NYSEArca: FAZ - News). Even though nothing had changed fundamentally, the newsletter recommended covering all shorts on March 2nd and going long the financial sector (NYSEArca: XLF - News).

The 2009 rally in financial stocks (NYSEArca: IYF - News) and the broad market was largely perception driven and relieved the deeply oversold condition created by the 55% 2007 - 2009 sell off. Fundamentally, however, nothing had changed.

In September 2008, President Bush said: 'The house of cards was much bigger and started to stretch beyond Wall Street. When one card started to go, we worried about the whole deck going down.'

The government postponed the collapse of the 'whole deck' thus far. As of recent, however, some disturbing information has surfaced. Bank of America admitted to hiding bad assets and Goldman's 82% profit drop shows that the days of fat trading profits - such as seen in Q3 and Q4 2009 and Q1 2010 - are over.

For right now, banks (NYSEArca: KBE - News) have found a new way to 'turn profits.' Banks are cutting their provisions for bad debts. Yes, at a time when 1 out of 4 Americans have a sub-600 FICO score, banks are dipping into their reserves to cover bad loans and reporting it as profit. Banks have reduced their loan loss reserves between 23% and 73%. It doesn't take an economist to know that taking money from your savings account and transferring it to your checking account can't be counted as income.

#4 Real Estate

In late July, the market allegedly rallied because new home sales jumped 24% to 330,000 units in June. We feel the urge to put this number into perspective. May sales were revised from an original 300,000 units to 267,000 units - this is an all-time low.

Bouncing off from the lowest level on record, new home sales did indeed increase 24%. Is that reason to celebrate though? Chances are the 330,000 will be revised lower in the future. Regardless, 330,000 homes sold pales in comparison to the 1.4 million homes sold in 2005.

The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale and vacation homes, reached 18.9 million. It shouldn't be too long before those bleak fundamentals are reflected in the performance of real estate ETFs like the iShares DJ US Real Estate ETF (NYSEArca: IYR - News) and SPDR DJ REIT ETF (NYSEArca: RWR - News). The UltraShort Real Estate ProShares (NYSEArca: SRS - News) is one of the few ETFs that benefit from falling real estate prices.

#5: Consumer Confidence

During periods of economic expanse the Conference Board's Consumer Confidence Index has averaged a reading above 100. Recessions average a reading of 71. The current confidence reading is at a dismal 50.4. The chart below paints this sad picture. [chart]

Consumer spending is said to make up about three quarters of the economy. How can the economy recover without participation by the consumer? It can't. That doesn't mean stocks can't rally temporarily. Such a disconnect between the economy and Wall Street's dream world tends to be short-lived.

Sentiment Confusion

It is important to distinguish between consumer sentiment and investor sentiment. Consumers are the engine of the economy. When consumers are negative and don't consume, corporate profits fall.

Investor sentiment moves with the stock market. If stocks are up, sentiment turns positive. If stocks are down, sentiment turns negative. We have seen this scenario play out a few times in recent years.

In 2000, extreme optimism sent the Nasdaq (Nasdaq: ^IXIC) and technology sector (NYSEArca: XLK - News) down as much as 82%. In 2007, extreme optimism sent the financial sector spiraling by 85%. The S&P 500 (SNP: ^GSPC) and Dow (DJI: ^DJI) dropped more than 50%.

Just as pessimism soared to the highest level in years, even decades, and investors started to throw in the towel, the ETF Profit Strategy Newsletter issued a strong buy signal on March 2, 2009. From there on, the major indexes rallied relentlessly for over a year.

This rally didn't go unnoticed, in fact by April 2010, optimism had reached another crescendo. By many measures, optimism surrounding the April highs was more extreme than in 2000 or 2007.

The ETF Profit Strategy Newsletter warned that 'the message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' The ensuing decline reduced the major indexes by nearly 20%.

More importantly though, the optimism surrounding the April highs is indicative of a major market top, a top that implies a decline much deeper than the 20% we've seen thus far. This conclusion is certainly supported by the above-mentioned Top Five list and many other indicators.

To many, the market's performance seems random. There are, however, many patterns and indicators (such as sentiment) that can help investors to significantly increase their odds of profiting.

The ETF Profit Strategy Newsletter monitors a variety of fundamental, technical, sentiment and valuation gauges regularly to formulate a bi-weekly update. We've found that monitoring a composite of indicators is the best foundation for formulating a high probability, big picture, forecast’.

Stocks Get Pummeled AGAIN: Here's What You Need To Know Weisenthal ‘How about a nice 1.1% down day to come back from summer vacation?
But first, the final scoreboard:
Dow: -107.35
S&P 500: -12.6
NASDAQ: -25
And now, the top stories:

The week actually got off to a pretty good start, as Monday the major markets around the world were up on no news.

Where things really started breaking down was in Europe, after a slew of negative headlines. First, you had WSJ slamming the Euro stress tests again, though arguably there wasn't much new in that, since everyone new the stress tests didn't take much regarding sovereign debt into account. But combined with ongoing Irish banking fears, and more trouble in Greece (PIMCO says the country may already be insolvent), and you had a good stew for slamming the markets.

The euro dove in early going, as all the major "Risk Off" plays did well. The yen soared to a 15-year high. Gold jumped to an all-time high around $1258, and of course stocks got whacked. After last week's rally, when it looked as though US equities might be gathering some momentum, it's a disappointment.

The US newsflow was actually pretty quiet. There were no big macro releases today, and for the rest of the week, the econ news will be light. HP suing Oracle over the hiring of Mark Hurd was actually the big corporate news of the week.’

September: In Like a Lion, Out Like a Lamb DeCiantis: ‘Students of behavioral finance must have had a field day this past week. In the wake of a month of dismal economic reports, Wall Street got its risk on with a few better than expected reports on manufacturing sentiment, home sales, and employment. Hopium, it appears, is a powerful drug. [ HOPIUM … YEAH! I KIND OF LIKE THAT METAPHOR WHICH RINGS TRUE! ]

Economists spent August cautiously lowering their outlook for the second half of the year as Obama's "recovery summer" failed to bear fruit, the Federal Reserve failed at both of its twin mandates (stable prices and full employment), and bullish analysts failed to convince investors that the market was ready to climb to fresh highs. As a result, stocks ended the worst August in nine years with rising calls for stimulus and fears of the dreaded double-dip.

Then came September. In like a lion, surging nearly 3% on the first trading day of the month on the heels of a better-than-expected survey by the Institute for Supply Management of the manufacturing industry. Representing (statistically speaking) nearly 30% of the US economy, the number was expected to fall after a series of similar Fed surveys from around the country indicated that American heavy industry -- that engine of growth over the last two quarters -- was finally loosing steam. Instead, it leapfrogged every estimate on The Street to post its first advance since May. Granted the rise was modest, but the surprise factor flipped the all-important risk switch and a reinvigorated camp of bulls poured back into the market, convinced that their creeping suspicions about a slip back into recession were all just a bad dream.
[chart]

Outside of a few trading irregularities, the data itself forced the bears to take pause and reflect on the substance of the report. The economics team at Goldman Sachs may have summarized it best:

"Without question, the report was better than expected...[but] the details of the report actually reinforce the case for further slowing in this sector. As shown in Exhibit 2, the gap between the indexes for new orders and inventories, an important lead indicator of movements in the composite index and in industrial production, almost disappeared in the August report. As recently as May, this gap was a robust 20.1 index points. The clear—if uneven—downward trend in this indicator actually strengthens the case for a decline in the composite index in coming months. The bottom line: US manufacturing output may still be expanding, but the risk that these goods are winding up on the shelf has increased."

More telling, however, was the dissection by semi-permabear David Rosenberg that helps to put the August print into context:

In a nutshell, ISM did smash consensus expectations in August but the composition left much to be desired. The coincident indicators firmed but the categories that actually lead manufacturing activity softened across the board.

As we said at the outset, the ISM index was at complete odds with the regional surveys. Philadelphia, New York, Milwaukee, Richmond and Kansas City were all down. Dallas and Cincinnati were up. In the past, when we had a 5-to-2 ratio to the downside, the share of the time ISM managed to eke out an advance was 4%.

It would be wise to lean against the market's initial dramatic reaction to this data. The ISM orders/inventories ratio is a decent leading indicator and it sank to 1.033x from 1.065 in July. 1.278x in Julne and 1.441x in May. The hidden nugget in today's report is that this ratio has decline to levels not seen since February 2009. And the last time it fell this fast to this type of level was in the September to December 2007 period (1.03x from 1.30x) when once again, there was tremendous confusion and intense debate over whether it was a recession/soft patch in the economy and the bear market/corrective phase in equities.

Suffice it to say that in the past 30 years, with eleven observations, ISM dropped to 47x in the three months after such a decline in the orders/inventory ratio to such a low level as is the case today. That is the average, the median, and the mode. The highest ISM reading three months hence was 51.9, so if past is prescient, today's data was likely a huge headfake.

[chart] The ISM report also overshadowed another important data release on construction, but we'll get to that later. The next feather in the bulls' cap was a pair of data points on residential real estate -- the sick dog of nearly every major developed economy in the G8. The first revealed a rise in July pending home sales (5.6%) after a precipitous drop in May (30%) and a further drop in June (2.6%) as an $8,000 tax credit expired. Analysts collectively expected a drop of 1%. Needless to say the markets were pleasantly surprised.

A closer look at the data reveals two key narratives not captured by the popular media or trading desks. First, it's important to contextualize the "rise" in pending sales by looking at a longer time series that tells the same story (this particularl series only goes back to 2005). The graph below speaks for itself.

[chart]

Second, the reported data may suffer from a disease common to many of the economic statistics released every day: Seasonal Adjustment Disorder (SAD). Given the inherent seasonality of the home buying cycle (higher during the summer when kids aren't in school, lower in winter when the weather is less than ideal for moving) economists at the National Association of Realtors make adjustments for these factors to make monthly comparisons easier. However, that can sometimes mask changes in the raw data, as was the case with the August NAR release. As Rosenberg suggests:

While the increase in pending home sales is encouraging, we did dig through the data and found that the not seasonally adjusted numbers (the raw numbers) fell by 7%, with declines across the country. This makes sense as July is usually a slower month for homebuying activities.

We wonder if there is a chance that the seasonal adjustment factors could be overstating the monthly increase given that we have seen such huge volatility in the housing numbers in the recent year making the seasonal adjustment process more difficult. Recall that Standard and Poor’s issued a note about the Case-Shiller home price index saying that “the turmoil in the housing market in the last few years has generated unusual movements that are easily mistaken for shifts in the normal seasonal patterns, resulting in larger seasonal adjustments and misleading results.

Another data point that drew a lot of bullish attention was Tuesday's housing release on prices. After a few dismal years, any news that isn't a decrease is more than welcome by just about everyone, rich and poor, domestic and international. Tuesday's Case-Shiller print was no exception, as home prices "jumped"...by a mind-numbing 1%...two months ago in June... on a rolling three-month basis (i.e. April through June).....still reflecting the last dying gasp of the home buyers' tax credit. Again, a little context:

[chart]

And how the markets rallied.**

Friday's bulls, reinvigorated after a powerful (and low volume) start to the month, launched their attack on a new front: employment. Long a forgotten weapon in the bulls' arsenal, private payrolls climbed by a larger-than-expected 67,000 in August, beating expectations for a 45,000 gain. At that rate, it would only take a little under 9 years to rehire the 7,000,000 people who lost their jobs during the recession but have yet to find new work (assuming no increase in population). Only 7,000 permanent government jobs were shed during the month, though economists expect that number to rise as state and local governments face crippling budget deficits. The other 114,000 new claims represent the last major layoff of temporary census workers, who rejoin an army of job seekers that have collectively become one of America's most structural economic challenges.

[chart]

Obviously plenty of reason for the markets to celebrate.

Now for the bad news.

On the same day as the ISM Manufacturing survey was released to considerable fanfare, July's construction spending was released by the Census Bureau and confirmed a worsening year-over-year decline of nearly 11%. Month over month, spending was down 1% in July and suggests another downward revision to third quarter GDP.

More from Goldman:

Construction outlays dropped 1% in July from a level that was revised down a whopping 2.7%. This dismal construction report flew below the market's radar, as it normally does since it usually comes out alongside the ISM manufacturing survey. One might dub construction outlays the Rodney Dangerfield ("I don't get no respect") of US economic indicators. Of all the data released this week, it has the most direct bearing on the real GDP "bean count" next to the monthly consumption report. Hence, since consumption was only modestly better than expected, a case can be made that third-quarter growth might actually be lower now than we thought a week ago despite all the upside surprises.

[chart]

Wednesday also revealed that another source of bullish sentiment in July may have been a little premature: auto sales. After months of steep retail incentives and easy year-over-year growth comparisons, cash- and credit-strapped Americans returned to a more cautious consumption path. As the second largest leveraged purchase in a typical household, auto sales reflected that shift. Only Chrysler, the runt of the litter, managed to squeak out an increase in sales in an otherwise sluggish retail environment.

[chart]

Finally, on Friday the latest ISM Non-Manufacturing survey was released and was every bit as disappointing as everyone expected the manufacturing survey to be. The index slowed to 51.5% in August from 54.3% in July and 55.4% in May, and its components were even less rosy. From Econoday:

A new optimism after today's jobs report -- not so fast. The ISM non-manufacturing report shows broad and deeper-than-expected slowing. New orders at 52.4 are down more than four points in August for the slowest rate of month-to-month growth so far this year. Employment, which in this report includes government workers, is signaling contraction, at 48.2 for a nearly three point decline for the worst reading since January. The composite headline index at 51.5 is down exactly three points for what is also the worst reading since January. Backlog orders are basically flat, export orders are down, deliveries are showing less delays, and general business activity is slower. Imports did rise as did raw material prices.

[chart]

In response, the market cut its morning gains in half, only to rally into the close to retest the morning highs. What makes this week's schizophrenic ISM interpretations so dangerous is that the upside surprise on Wednesday was based on data that captures roughly a third of the economy, while Friday's non-manufacturing disappointment approximates activity in roughly two-thirds of the economy. So of course the markets ended the week up 3%.

Once again, Goldman's analysts try to walk a fine line between sell-side optimism and buy-side skepticism:

On the whole, it's been a good week for US economic data...reports on factory activity, pending home sales, and the labor market have surprised to the high side. In fact, some of these readings have benefited from positive judgmental adjustments, as factors not readily apparent in the headline indicator have also been better than expected. However, this does not mean that the outlook for US economic activity has improved, except insofar as the better-than-expected news eases market worries about a "double dip". At least some - perhaps most - of the improvement ... reflects what Paul Krugman once called, in a much different context, "The Age of Diminished Expectations". In the current setting, we note that several prominent forecasters have marked down forecasts of economic activity and therefore may also have lowered their sights on the higher frequency indicators.

Interpretive bias is inevitable when any new data is released. Optimists will quickly find a silver lining in any dark cloud, and pessimists will pick apart even the most robust reports of growth and tease out a bearish narrative. Investors should think twice when these competing forces fall out of balance -- when markets are as unabashedly bearish as they were in late 2008, or as unapologetically bullish as the were during the second half of 2009.

If the first few days of September are any indication of how the month will unfold, we may be back on the perma-bull track. When disappointing data is released, investors cheer for more fiscal and monetary stimulus. When data is surprisingly positive, investors cheer at the prospect of a sustainable, organic recovery. As we saw in early 2010, this "heads I win, tails you lose" mentality is particularly vulnerable to rapid and substantial correction, and a September that entered as a lion may finish the third quarter as a lamb.

Disclosure: Long safety, short risk (no specific stocks mentioned)’

Correlation and the S&P 500 [ I really think this author was a bit too diffident in talking about the computerized churn-and-earn scam which eats away at the real economy , but the discussion highlights at least this immense problem area ] ‘The immense correlation between the market, and almost all risk assets on Earth is not a new subject to FMMF readers. [Jun 30, 2009: Bloomberg - Correlation Among Asset Classes Highest Ever] I beat this dead horse monthly, mostly out of abject frustration. [Sep 2, 2010: Why Bother with Individual Stocks in the Perfectly Correlated Market?] I don't have an issue when the market is up 2-3% or 90% of stocks move in the same direction, it is all these days the market is up or down 0.7% when it drives a person nuts.

Friday, for example, every position I had but one was up. As I type this every position but one is down.

This correlation madness started to become an issue in 2007 as we were told that hedgies control 40%(ish) of each day's trading volume. As I said then, since mutual and pension funds are relatively staid players, the 'fast money' is the marginal buyer, and 'hot money' in the form of hedge funds - especially of the quant variety - are the marginal buyer. The problem now is they seem to be the only buyer as equity fund withdrawals continue on pace as the retail guy floods into bond funds.

So we have a market dominated by computers trading to computers, all using related algo's - happy, happy, joy joy. Now we hear things such as 60-70% of trades flow through these players... and since EFTs are the weapon of choice, computerized trading of EFTs have taken over the market. [Jun 29, 2010: Correlations Among Asset Classes Reach Ever Higher Extremes as HAL9000 Algos Dominate Life] The SPY ETF is now about 9% of ALL volume as of last check, and we had a time about 7-8 months ago where Citigroup (C), AIG (AIG), Fannie (FNMA.OB), and Freddie (FMCC.OB) were 40% of all volume. Pathetic.

Frankly, it makes the market a frustrating and 'less fun' place. The market used to be a four-dimensional jigsaw puzzle, comprised of fundamental, technical, psychological, and 'animal spirits.' Now it's just the dumbed down two-dimensional Etch a Sketch. Shake it at 4 pm every day, because it has no memory from day to day. Sure you can adjust (in fact you must adjust) if you plan to stick around, but when everything is a 1:1 correlation, it simply reduces the market to 'stoopid' and coming in each day, checking your brain at the door, and staring at the S&P 500 chart trying to guess where it will be in 3 hours, 3 days, and 3 weeks gets to be boring. [Jul 15, 2010: WSJ - Correlation Soars on S&P 500 Shares]

But this is the casino market we have built, and I don't see anything changing anytime soon. The other issue is it makes it so much more difficult to outperform the market. Surely there are a handful of stock names that still outperform (or underperform) but with almost everything swaying in the exact same direction as the market, creating alpha is difficult. Most of the performance nowadays is not about stocks, but due to calling turns in the greater market - increasingly hard to position for as you scale in size. Especially when the majority of the turns are due to binary reactions to economic reports or Fed announcements - it's simply placing your bets on red and black, not a stock market.

I've written about said frustration in the past amongst the "human" hedgies, [July 8, 2010: Hedge Funds "Frozen in Headlights" as BiPolar Market with 1:1 Correlation in All Things Not Named U.S. Treasuries Causes Confusion] and this is taking a toll on the mutual fund managers as well.

One of my big beefs with the mutual fund industry is that many players - especially in the bigger funds - are closed index funds. They all have super cool names but almost anything in 'large cap value' or 'large cap growth' were hybrid closet indexers. They basically flip an Exxon (XOM), Intel (INTC), or a Microsoft (MSFT), with a Walmart (WMT), Verizon (VZ), or a Cisco Systems (CSCO) -- change the order, weighting, and indeed are able to charge a nice fee for doing nothing other than being the S&P 500 with a small twist. I cannot tell you how many 401k plans I reviewed for people, where I went to look at the top 10 holdings of the 12-15 mutual fund choices and 90% of them were identical (just in different order in weightings!). The statistic of 0.99 correlation amongst the S&P 500 and many of the largest funds is quite remarkable and points to my 'closet index' beef, but with the mechanics of our new paradigm market, it has taken it to a whole new level. It also says a lot of people are wasting their money paying management fees for what is an S&P 500 ETF clone.

That said, even with the closet index situation that has been growing for a decade+ you used to be able to try to outperform if you plied your trade in small or medium caps (or international markets), but the HFT + EFT = GLEE environment we now live in has made that increasingly moot, since most of those stocks now move in unison as well. If your stock is not in a major EFT it generally sits ignored with low volume... if it IS in an ETF than it doesnt matter the company specifics - as long as the algo's are buying (or selling that ETF) as flavor of the day, every component in that ETF is a winner (or loser)! Stoopid is as stoopid does in the market with 1st grade logic.

One gentleman I've admired for many years is Will Danoff at Fidelity Contrafund. [Sep 9, 2008: Will Danoff in Kiplinger Magazine] His fund has been huge in size for years on end (I'm talking multiples the size of the biggest hedge funds - Contrafund is now up to $62 BILLION), yet he has been able to somehow outperform his peer group (and until the past 5 years the S&P 500) by a wide margin, mostly by being somewhat contrarian. This despite holding many positions and not being extremely concentrated - a feat I find quite remarkable since once you start owning 200-250 positions I don't know how you can beat the market over time. (Contrafund owns 445 positions as of last quarter!) Danoff is highlighted in this piece, which is why I mention him - he is no dummy.

Via Bloomberg:

Fidelity Investments’ William Danoff, the stock picker who led the Contrafund to benchmark- beating returns, isn’t looking very contrarian these days. Danoff’s $62 billion Contrafund, which seeks to beat the market by picking stocks whose value hasn’t been fully recognized, has tracked the Standard & Poor’s 500 Index more closely this year than in any year during its four-decade history.

“Danoff usually finds ways to go against the grain, but these days there isn’t much that’s contrarian relative to the macro theme,” Adviser Investments’ Lowell said. “This is a trendless market and it’s not providing him any room to break away from the S&P 500.”

Investing abroad hasn’t helped stock pickers like Danoff because correlation has shot up even between regions.

Danoff isn’t alone. Six of the 10 largest U.S. stock funds show correlations of 0.99 this year, meaning they moved almost completely in sync with the market. Managers are struggling to stand out and attract new money as fear of another crisis prompts investors to move in and out of markets without discriminating between securities, industries or geographies.

Robert Doll, BlackRock Inc.’s chief equity strategist, said while stocks moved in lockstep before, this is the longest he has seen correlation persist across markets. “We were expecting 2010 to be the year when stock selection would add value, but that hasn’t been the case.”

Doll says even the most high-quality stocks have been hurt among a larger sell-off in risky assets. “We’ve scratched our heads many times during this year as the macro picture is driving everything,” Doll said. “It can be frustrating along the way, but we’re just focusing on the fundamentals and eventually we’ll get paid for it.”

The correlation between the U.S. equity benchmark and its individual members was 0.81 in the 50 trading days through July 7 and has since remained close to that level. That’s almost twice the historical average of 0.45 over the past 30 years.

The increase in correlation is making it difficult for actively managed funds to beat their benchmarks and produce better returns than lower-cost index products. “You can’t pick any mutual fund, even if has previously been a winner, and expect it to outperform in this market.”

Mohamed El-Erian, the chief executive officer of Newport Beach, California-based Pacific Investment Management Co., says investors have a “risk-on/risk-off” attitude that leads to sometimes “violent” swings, such as the sell-off in markets worldwide on Aug. 11, after the Federal Reserve indicated that the economic recovery had lost momentum. “We were particularly struck by the size and correlated nature of the market moves,” said El-Erian.

Correlation may be linked to the increased use of exchange-traded funds and index funds in the stock market, especially those that focus on particular industry groups, said Brian James, co-director of equity research at Boston-based Loomis Sayles & Co. Assets in U.S. ETFs have grown to more than $821 billion from $608 billion at the end of 2007, according to Investment Company Institute. “It is almost axiomatic that if you have an increased presence of single-purpose ETFS and futures traders, it moves stocks in one direction,” said James.

Correlation has been particularly pronounced for companies with larger market capitalizations, and for the larger funds. James said that 90 to 95 percent of large-capitalization stocks have tended to move in the same direction this year, up from about 70 percent prior to the 2008 financial crisis.

The largest U.S. stock fund, the $148 billion Growth Fund of America, has seen correlation increase to 0.99 this year, from 0.84 in mid-2008. For the $37 billion Dodge & Cox Stock Fund, run by San Francisco-based Dodge & Cox, the correlation measure was also 0.99 this year, compared with low of 0.81 prior to the height of the crisis in late 2008.

Disclosure: None’

Obama seeks $100 billion business tax credit (Washington Post) [ All just monopoly money now! And, of course, pre-election talking points as war spending ramps up in Afghanistan. Sounds like … uh … uh … plan? Bankruptcy plan? `Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable …` ]

Economic events for this week (Washington Post) [ Well, I’ll stick with nobel prize winner Krugman (infra) among other similar dire but realistic forecasters who, beyond the spin and fake market-frothing data (especially so close to the mid-terms) have a track record of being right when everyone else was ebulliently wrong, mr. fraudulent-wall-street-glass-half-full-though-empty. ] After a busy week of economic data, this one should be quieter, offering the Federal Reserve's compilation of anecdotal information on the job market and new details on trade.

Obama defends policies and offers new proposal (Washington Post) [ No you can’t wobama … b* s* everyone again! ‘Yes, we can … NOT!’ That dog don’t hunt anymore wobama. `Drudgereport:` `Obama takes aim at Boehner...`    `'They talk about me like a dog'… [ If the shoe fits, wobama … keep gearing up Afghanistan … sounds like a plan]...` ]Faced with twin challenges of boosting the economy and saving congressional seats, the president tries to do a little of both on Labor Day.

Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.

Government Bonds: Can the U.S. Maintain Confidence in Its Debt? Cliff Kule Massive, unsustainable government debt - it's everywhere. Especially in America. At some point, will the world begin to lose confidence in America's growing debt? Will interest rates then skyrocket? Will a Greek-style crisis in U.S. government bonds then ensue? Is there any way out?

America can claim its debt problems are not as bad as some countries. But that ignores some important points:

See an interesting chart on how America's financial condition is worse than several other countries.

Even the most respected bond manager in the world, Pimco's Bill Gross, believes there are several countries including the U.S. whose financial ratios are in dangerous territory - the "ring of fire".

A loss of confidence in the U.S. dollar and U.S. debt could bring a "Greek-style" crisis to the whole world. Consider that the U.S. dollar has been the world's reserve currency since 1944; it has been accumulated by the whole world as a form of trusted and secure savings. There are trillions of dollars of U.S. government debt accumulated as reserve savings by banks around the world (see chart below courtesy of Hugo Salinas Price) and realize that most reserves are held as U.S. government bonds. A loss of confidence in the U.S. dollar and in the ability of the U.S. to service its growing debt could trigger an epic disaster. [chart]

Is there any way for America to maintain the confidence?

One way would be for America to become fiscally prudent, simply stop creating money and debt, let the massive deflationary forces of credit contraction and consumer de-leveraging run their natural course. This would cleanse the system of toxic debt. It would also clearly and immediately cause another Great Depression.

Another way would be for America to simply print more money, create more debt, blindly following Keynesian economics that brought us into this mess in the first place. Attempt to "inflate away" the debt without losing the confidence of investors that buy the U.S. government bonds. This has been tried many times throughout history with disastrous consequences.

The chart below (courtesy of Economic Edge) shows how increases in debt are recently giving less and less “umph” to economic GDP growth to the point now of negative GDP growth. Eric Sprott has produced an excellent study suggesting that 9 cents of "growth" is coming with every dollar we go deeper into debt. Bud Conrad has produced calculations that are equally discouraging. This massive debt-driven money printing would therefore likely lead some form of hyperinflation in a futile attempt to stimulate economic growth.

This leaves one other option.... a direction that is hardly ever considered... a policy tool still waiting to be tried!... America could return to the gold standard... Why? Because the gold standard system would back the U.S. dollar by real money, and enforce a responsible discipline of fiscal and monetary policy that Congress and the Federal Reserve cannot currently do. In turn this would maintain confidence in America's debt.

“The gold standard has one tremendous virtue: the quantity of the money supply, under the gold standard, is independent of the policies of governments and political parties. This is its advantage. It is a form of protection against spendthrift governments.” Ludwig von Mises (1881-1973)

Monetary systems on a gold standard system cannot increase money supply as needed. Under a gold standard system, paper money is backed by something of real tangible value. The total amount of gold limits the total amount of paper money that can be created. New money must be backed by additional gold. Omnis’ Jim Rickards suggests this possible solution: a “gold backed currency at a non-deflationary price… sound money leads to sound growth and the creation of real, not illusory, wealth.”

In 1971, President Nixon simply severed the tie between gold and U.S. dollars. As he closed the gold “window,” Nixon proclaimed “We are all Keynesians now” (referring to the Keynesian economic school of thought where gold has no function). Austrian School economists and Cliff Küle would like to say – We are not all Keynesians.

Did severing the link between the dollar and gold work to strengthen confidence in the U.S.? Please consider:

Within a generation of that move, the U.S. went from being the world’s largest creditor nation to the world’s largest debtor.

TIME Magazine of 1979 said:

Until the greenback is once again made as good as gold, many millions of people will persist in believing that the barbarous relic is still a better bet.

Recently speaking about Goldman Sachs’ problems at the Peter G. Peterson Foundation, former President Bill Clinton said,

There is a bigger problem here… too much of our growth was in finance ever since went off the gold standard.

The dollar “tie” to gold might be “re-tied” just as simply as it was untied. In a certain respect, America never really went off the gold standard. The tie between gold and U.S. dollar was simply adjusted to 0%. So, simply adjust it back. What tie would be needed today to restore America back to the gold standard? Let’s do the simple math.

Official figures for the total amount of gold reserves held by the U.S. Treasury are 8133.5 tonnes of gold. This gold is owned by all Americans and is held in trust by the government for the people. Given that 1 metric tonne is 32150.746 ounces, that amounts to:

8133.5 tonnes x 32150.746 ounces/tonne = 261498092.591 ounces

If we look at recent Federal Reserve data, we note that the total U.S. M1 seasonally adjusted money supply is at $1712.2 Billion of currency. Therefore if we were to take the total currency and back it by the total amount of gold, this would give:

$1712.2 billion divided by 261498092.591 = US$6547 per ounce

There you have it – if the U.S. were to devalue the U.S. dollar, setting gold at 6550 U.S. dollars per ounce of gold, the country could position to go back on the gold standard. Global confidence in the U.S. dollar and in America's debt would be maintained. It may be as simple as finding the right price for the government gold holdings to give "backing" to every dollar in circulation.

$6550/ounce is approximately the current value necessary to give "gold backing" to the current level of M1 money supply. If the U.S. wanted to expand the money supply further to stimulate the economy, it would need to set a new price for its gold holdings which is even higher than $6550/ounce or somehow get more gold. The U.S. could then be in a position to expand money supply as necessary to stimulate growth and able to extend credit to other nations. This is an essential ingredient to restoring confidence and keeping the title of reserve currency. After all, a reserve currency should be able to extend credit to nations in need, not be in need of credit from other nations.

As Jim Rickards states, this one-to-one ratio backing of gold with the U.S. dollar

would comfortably support a broader U.S. money supply on a one-to-one ratio and maintain confidence in the dollar and U.S. sovereign debt.

Perhaps only then could global confidence in the U.S. dollar and in U.S. debt be maintained – if not, either a deflationary depression or a hyperinflationary depression could be in store as confidence wanes with increasing levels of public debt.

Back to the Future

Nick Barisheff, President and CEO of Bullion Management Group, emphasizes that gold is money:

Gold is not and never has been a currency. Gold is something entirely different and far more valuable. It is money.

Cliff Küle suggests that to maintain confidence in its debt, America must bring back the gold standard, anchoring the U.S. dollar back to real money - gold, as Article 1 of the Constitution of the United States commits it to be.

Disclosure: No positions

Work Until You’re Dead? That May Be the Only Option for Many Americans Huffington Post | Given that the first wave of Boomers is scheduled to turn 65 in 2011, Attention Must be Paid.

Gold Could Double over Five Years – Headed Higher with Government Resentment: Holmes Gold has the potential to double within the next five years, and if governments stumble with their policies, it can go even higher, said Frank Holmes, CEO of US Global Investors.

As Americans Celebrate Labor Day 2010, U.S. Factories Are Closing In Droves Labor Day 2010 comes in the midst of a stunning wave of U.S. factory closings that stretches from coast to coast. Once upon a time America was the greatest manufacturing machine that the world has ever seen, but now it seems as though the only jobs available for working class Americans involve phrases such as “Welcome to Wal-Mart” and “Would you like fries with that?”

Burry, Predictor of Mortgage Collapse, Bets on Farmland, Gold Michael Burry, the former hedge-fund manager who predicted the housing market’s plunge, said he is investing in farmable land, small technology companies and gold as he hunts original ideas and braces for a weaker dollar.

Unemployment in U.S. May Rise Toward 10% on `Feeble’ Growth As Bob Chapman outlined on the show today, once the real figures that the U.S. Labor Department hides are factored in, real unemployment is over 21 per cent – approaching great depression levels.

Manipulation Of Money – David Icke David Icke explains how money is created out of fresh air and how debt is used to enslave us.

Globalism Destroys America: 10 Reasons Why The World Trade Organization Is Bad For The United States Economy In 2010, education has been so “dumbed down” in America that most Americans don’t even know what the WTO is, and even fewer understand why the WTO is important. The truth is that the World Trade Organization is essentially a global government for world trade.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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).

National / World

FBI Warns of Possible Terrorist Response to “Burn Koran Day” Kurt Nimmo | Violence expected in response to Koran burning demo in Florida.

Everything you need to know about the events in NYC We Are Change | To be sure everyone is keyed in on all details, we here in NYC decided to write up an extremely detailed schedule.

The Reckless Mess Created by The Fed Bob Chapman | The 3-card Monte game continues.

Exclusive: Internal FBI Memo: Government Bracing For Violence Over “Burn Koran Day” Infowars.com has received a leaked copy of an internal FBI memo warning of a possible terrorist response to “International Burn A Koran Day,” an event scheduled for the ninth anniversary of the September 11 attack to be held by the Dove World Outreach Center in Gainesville, Florida.

Condoleeza Rice: Everyone Thought Flight 93 Had Been Shot Down When United 93 came down Ms Rice and other officials believed it may have been shot out of the sky. Miss Rice added: ‘Everyone in that room thinks that perhaps it’s been shot down.’

The White House Attempts To Refute The Scariest Jobs Chart Ever You’ve certainly seen the chart that we’ve dubbed The Scariest Jobs Chart ever, which shows how meager the jobs recovery has been since the start of the recession, compared to other recessions.

Obama Did Create 3 Million Jobs — in China President Obama should be saying, “My economic stimulus plan has preserved or created 3 million jobs — in China.” He keeps leaving out the words “in China.” His plan is stimulating American demand for imports, not demand for American products.

Obama: Sounding Bush-like? David Swanson said President Obama sounded like he embraced all the lies about this war, including the falsehood about the surge which created “mythical success”.

Abortionists Kept Aborted Babies in Jars I used to think that the abortion industry were simply capitalists who allowed their greed to override their humanity. I used to think that maybe it was just feminism run amok and that cooler heads would eventually prevail. I used to think that pro-lifers were simply up against the extreme of secularized logic. Over the past few years though I’ve come to believe that it’s more than that. It’s worse than that. We’re immersed in a culture with a death fetish. Our fascination with death is boundless.

The Establishment Media Smear Machine Is Officially Dead Ashes to ashes, dust to dust. The establishment media smear machine is officially dead and buried. Rand Paul has extended his lead over Democratic opponent Jack Conway to a massive 15 points, proving that when the distrusted and discredited corporate media attacks anyone now, it actually increases their popularity.

`Drudgereport:` `Petraeus Speaks Out on Quran Burning...`
`Endangers Troops...`
`Pastor Says Church Not Deterred...`
`Hartford City Council meetings to begin with Muslim prayers...`
2 SOLDIERS KILLED IN IRAQ, 9 WOUNDED*

`ADDICTED TO STIMULUS: $50,000,000,000 MOREDems wary of WH's huge new spending plan...`
`Obama takes aim at Boehner...`    `'They talk about me like a dog'… [ If the shoe fits ...`     President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.” ]

`'They talk about me like a dog'...`
`FLASHBACK: President-Elect Obama: Mutt 'Like Me'...`

`Muslims Protest Plans to Burn Quran...`
`'Death to America'...`

`Fears rise as EU nations aim to raise borrowing... Roubini: More than 400 US Banks Will Fail...`

`'COMBAT OVER': US TROOPS BATTLE IN BAGHDAD...`

Obama to call for $100B business tax credit (Washington Post) [ Just in the nick of time … riiiiight! … for the elections … you know, ‘talking points’ though of no economic effect … and to make america, only slightly more bankrupt ... at this point, who’s counting? ] Under mounting pressure to intensify his focus on the economy ahead of the midterm elections, president seeks to boost research and development

Afghan bankers' assets frozen (Washington Post) Authorities bar sale of properties held by principal owners, but freeze excludes Karzai's brother [ Yeah … don’t want to get him too angry … he’s too valuable to the heroin trade resurrected by america. ].

Small businesses feel squeezed by Obama policies (Washington Post) [ Well, the grim reality for them is that they just don’t pony-up those big campaign dollars like those non-performing corporate welfare recipient conglomerates / big businesses. The other reality, reiterated again here is that everybody’s on to the fact that wobama’s great at delivering speeches, albeit teleprompted, but as we now all know, he doesn’t deliver. It’s rather pathetic to see that old loser and jingoistic fake war hero fraud, senile, incompetent mccain who never saw a new war opportunity he didn’t like despite america’s defacto bankruptcy (a policy the post-election wobama’s promulgated) because of same being given air time as some sort of wise old sage when he’s really just an old, stale joke who would have been even worse than wobama but not by much, failed presidencies both. ]

Charles Manson & the Scientific Dictatorship Jurriaan Maessen | Just like Manson, the scientific dictatorship would like to see the bodies piled up high.

Obama, Corporate Media Ignore Widespread Health Problems On Gulf Coast Kurt Nimmo | Obama gets to declare another mission accomplished while residents of the Gulf suffer.

Charles Manson: Global Warming Prophet Paul Joseph Watson | James Jay Lee, along with many prominent environmentalists and academics, share their eugenicist belief system with the man who many consider to be evil incarnate.

Gender bender chemical atrazine widely contaminates U.S. public water supply David Gutierrez | Research indicates the U.S. water supply is widely contaminated with the endocrine disrupting chemical atrazine.

The Impact of Fiat Money as the World’s Reserve Currency David Redick | Nations can’t afford our exorbitant privilege of being both a fiat currency and the world’s primary reserve currency.

The Imperial Anatomy of Al-Qaeda. The CIA’s Drug-Running Terrorists and the “Arc of Crisis” As the 9th anniversary of 9/11 nears, and the war on terror continues to be waged and grows in ferocity and geography, it seems all the more imperative to return to the events of that fateful September morning and re-examine the reasons for war and the nature of the stated culprit, Al-Qaeda.

Climate Scientist: Manipulating Earth’s Climate Will Not Cost Taxpayer More than $1 Billion… Annually! David Keith, director of the Institute for Sustainable Energy, Environment and Economy, has proposed releasing engineered nano-sized discs in the earth’s atmosphere to “offset global warming”- and that for just $ 1 billion of your taxpayer-money annually.

Dollar falls to 15-year low against yen The dollar fell to a 15-year low against the yen Tuesday, plunging at one point to 83.52, as the Japanese unit took advantage of its status as a refuge currency amid global economic uncertainty.

Austerity Strikes Hit France, Britain In France, unions called for a day of mass strike action shutting down trains, planes, buses, subways, post offices and schools in protest against President Nicolas Sarkozy’s pensions reform bill.

Former N.Korea soldiers to form group to topple regime Scores of former North Korean soldiers who defected to South Korea will this week form a group aimed at toppling the regime with the help of serving soldiers there, one of its leaders said Monday.

Mark Hulbert's Take: What Are the Odds of a September Decline? at Seeking Alpha (Fri, Sep 3) ‘Some of the work Mark Hulbert does is nothing more than telling us what the gurus in the universe he follows are thinking individually and, more frequently, in the aggregate. But of late, he also has been doing some far more interesting analysis in the “Yale Hirsch” mode – and the results are not satisfying if you are a bull.

The bullish case seems to rest on two platforms: (1) August was really bad therefore September should be good in reaction to that, and (2) “Everyone” now expects the current crop of politicos to suffer major setbacks in November and, since the market is a predictive mechanism, investors are positioning themselves today for what they believe will be wonderful news post-November (like an extension of the current tax rates and a reduction in pork-barrel spending by irresponsible pols.)

The Dow rallied more than 300 points the first two days of September so, making the usual straight-line assumption, bulls believe that today is the day to get invested, Hmmm. Let’s examine each of the above platforms in turn.

Quoting Mr. Hulbert’s conclusions based upon his historical analysis:

I have good news and bad news when it comes to slicing and dicing the historical data as it pertains to September.

The good news is that it is possible, by carefully reading the statistical tea leaves, to get advance insight into whether any given month is likely to do better or worse than average.

The bad news: Those tea leaves provide no such hope that this September will be able to beat its historical reputation as being awful for stocks.

His research shows that since 1896 (the year the Dow Jones Industrial Average was created,) the Dow has lost an average of 1.15% in September. The average gain for all other months was 0.71%. Worse, a look at the historical record shows that Septembers did not show a 1.15% decline following a bad August – they showed a 2.7% decline! Typically, when August is down, as goes August, so goes September -- only twice as bad as usual.

Worse than that, Hulbert notes, “During each of the past nine decades... September's rank relative to other months in terms of performance was never higher than ninth. It was dead last in five of those nine decades -- including the most recent one.”

He adds a final bit of gasoline to this bonfire by noting that the CBOE's Volatility Index (VIX) is relatively low going into September, the month tends to do better. Uh-oh. The VIX at the end of August was quite a bit higher than 20. (And for those who have followed our comments on the VXX and VXZ ETFs in the past, we believe they have now entered an excellent buy area.)

As for the second platform, the market seldom reacts favorably to the same news twice. I’ve been writing for two years that the pendulum will swing, that the 2008 election was a rejection of the guns-and-butter policy of the previous administration and was little different than the voters’ rejection of President Johnson’s guns and butter policies in 1968 (thrusting Richard Nixon into office with disastrous consequences we hope are not repeated this time around), and that mid-term elections are almost always about mitigating the euphoria of the previous presidential election. This is not news!

The rally of September 1^st and 2^nd may have occurred as a result of Johnny-come-latelies reaching the conclusion Wall Street reached about the mid-term elections weeks or months ago. If that is the case, I imagine the smart money is rubbing their hands with glee and using this rally to lay on bigger short positions.

The current rally was ostensibly about the fact that the Chinese Purchasing Managers Index rose to 51.7 in August from 51.2 in July, followed by the news that the U.S. ISM Manufacturing Index improved from 55.5 in July to 56.3 in August. I don't see it – these incremental numbers are nothing but decimal dust in the grand scheme of things! Easily manipulated by the bureaucrats in charge of such numbers, the “improvement” is so small as to be barely measurable – and to raise not a stir among the media when they are “revised” from “up 0.5%” to “down 0.1%” or whatever in another month.

The other economic numbers that form the backdrop to this rally include: Canada’s GDP fell to an annual rate of 2% in the 2^nd quarter, down from 5.8% in Q1; auto sales absolutely plunged in the U.S. and around the world; there was a continued drop in U.S. construction spending; there were declining retail sales in Euro nations; and the ADP employment report indicating that we didn’t just grow jobs at too slow a pace to cover all the new workers entering the labor force, but we actually lost some 10,000 private sector jobs! Government is still hiring, of course, but we must always remember: the private sector is income, government is overhead. That doesn’t mean we don’t need certain government workers – what hellish existence would it be without fire and police protection, or good teachers to educate our children? But it is still overhead even if we collectively choose to pay for it in order to enhance our safety or literacy.

Bottom line: September tends to do worse in years that August has been bad. August was bad. The news of the mid-term elections is already old news and will most likely follow the historical path of all mid-term elections. We will return more to the center. And the good news to propel the market higher is likely to be short-lived. Clearly, we aren’t out of the woods yet. If the market is in a news-dominated phase, we are likely in big trouble.

For our clients we are stressing safety, with inverse ETF protection from the likes of ProShares Short S&P 500 (SH), ProShares Short Russell 200 (RWM), ProShares UltraShort Nasdaq (QID) and ProShares Short MSCI Emerging Markets (EUM). (If the US and Europe aren’t consuming, who is going to order stuff from the emerging nations? They will fall if our markets and economies fall…) We are also buying VXX and VXZ and are keeping our bond positions short and inflation-resistant, as we do with WIP, TIP, BWZ, and MINT. Finally, we own some special situations in precious metals, energy and agriculture. (See previous articles for specifics, including this and this...)

AP Business Highlights [ Wow! ‘Private employers hired more workers over the past three months than first thought’ … Riiiiight! Especially with 2 months to the mid-term elections (time for federal term limits and the abolition of lifetime appointments for anything owing to the nation’s defacto bankruptcy), desperation with fake / false data / reports; and, that negative but better than expected thing as unemployment rate inches up to 9.6% (the real unemployment rate is approximately 20+% with that ‘stopped looking’ fudge-factor giving them the false positive). I mean, come on! Private reports on non-farm payrolls down each week, but suddenly from out of nowhere defying virtually all economist estimates the ue claims are up, and prior gov’t reports revised up. This is a great opportunity to sell / take profits! ]Companies add 67K workers, but jobless rate rises WASHINGTON (AP) -- Private employers hired more workers over the past three months than first thought, a glimmer of hope for the weak economy ahead of the Labor Day weekend. But the unemployment rate rose because not enough jobs were created to absorb the growing number of people looking for work ...’

Stocks Churning in Trading Range: Dave's Daily ‘This will be short. Perhaps the image [old lady (wall street) churning (scam) butter (stocks)] and title should suffice as a summary of the week. After all, I indicated "possibly" I might post on Friday. The current market is a reprise of early July's rally from June's selloff. Now into September the August lows are reversing. How durable will this be is anyone's guess. Economic data was greeted with bullish enthusiasm as markets were oversold after Monday's slump. The unemployment data was just about the same as previous once you look deeper inside the data. The birth/death model is just an estimate made out of thin air. Once you view the data ex-that, things look pretty grim. There are very few players involved this week and perhaps in the future. It's interesting many major banks are closing their proprietary trading operations. This removes another important prop to markets as retail investors have left the scene. Further, for stock mutual funds, the exodus continues for the 16^th straight week. Cash balances at these funds are at historic lows of 3% as the outflow continues. Curiously, short interest is also at an all-time low near 4% meaning few for bulls to squeeze. We only have hedge funds and overseas investors in the game. And, it does seem like a game more than ever now. Bulls jumped on the oversold conditions on Wednesday as a DeMark 9 was registered on Tuesday for most major market daily charts then. A rally on that technical condition was no surprise ...’

Important Manufacturing Indicators Look Weak at Seeking Alpha (Fri, Sep 3)

Consumption Contraction Approaches 2008 Low at Seeking Alpha (Fri, Sep 3)

Beware the Big Red Leading Indicator at Seeking Alpha (Fri, Sep 3)

Small Investors Turns More Bullish (contrarian indicator) at Seeking Alpha (Fri, Sep 3)

Unemployment Rate Edges up to 9.6% at TheStreet.com (Fri, Sep 3)

AAII Sentiment Survey: Bullish Sentiment Improves, But Bearishness Still Dominates at Seeking Alpha (Fri, Sep 3)

Monthly Markets Review: Risk Aversion Rises in August as Double Dip Concerns Grow at Seeking Alpha (Fri, Sep 3) ‘…The ECB keeping rates at a record low of 1% and zero interest policies in the US and in most western economies remains bullish for gold as the opportunity cost, the lack of yield, of owning gold is negligible, especially with inflation having picked up recently in many economies internationally. Further signs of burgeoning food inflation were seen in the surge in the price of global meat prices which have risen to 20 year highs … (chart) September can be the 'cruelest month' for stocks. Conversely, more years than not, precious metals prices perform well in September and many analysts reckon this year will not disappoint those owning gold. Given the uncertain financial and economic outlook, it is important that investors remain diversified with allocations to cash, short dated government bonds, international equities, and gold…’

More than 400 US Banks Will Fail: Roubini CNBC | More than half of the 800-plus US banks on the “critical list” are likely to go bust, according to renowned economist Nouriel Roubini.

U.S. unemployment soars to 9.6% after economy loses 54,000 jobs The U.S. unemployment rate rose to 9.6 per cent in August, official figures released today have shown. The data from the U.S. Labor Department showed the economy lost 54,000 jobs last month as the United States continues to struggle to recover from the recent global recession.

Government Economic Leaders Surprised that Real World Isn’t Responding to their Magic Pixie Dust Many have tried to explain to the neoclassical economists running the show exactly how bad the economic collapse would be, why it was so bad, and how to mount an adequate response to fix things. But Bernanke, Romer and the rest of the gang ignored them.

Why Lessons From The First Great Depression Mean The Next Four Months Will Be Very Painful For Stockholders Scott Minerd, CIO of Guggenheim Partners, parses through the years of the Great Depression, and focuses on the pivotal 1936, which contained in it the seeds for the destruction of the period of relative economic growth and stability from 1932 to 1936.

Michael Pento Says Fed Will Buy Stocks And Real Estate In Its Next Attempt To Create Inflation Zero Hedge | Pento also goes into explaining why housing is facing a “deflationary depression,” and a further collapse in pricing, why inflation benefits only those closest to the money, i.e., the banks and the military complex.

The U.S. Path to Collapse National Inflation Association | The pain that was felt after the collapse of Lehman Brothers is nothing compared to the pain that will come when we begin to feel the effects of bailing out the rest of Wall Street.

National / World

Globalist Soros Launches Frontal Assault Against Tea Party Kurt Nimmo | Soros and the foundation left have launched a website designed to go after the growing Tea Party movement.

ABC Nightline Hit Piece Smears Alex Jones As King of “Paranoia Porn” [ Yeah! This is unequivocally indefensible on the part of abc (or nbc, fox, cbs, etc. if they shared a similar mainstream media view) because there are so many substantial nation-damaging behaviors that are in plain sight yet go unreported (and unprosecuted). I’d feel more comfortable with a Washington Post Network (possibly as a wholly owned subsidiary to militate against the risks inherent to such a venture and the establishment of same). While I do find Alex Jones’ somewhat overstated vaunted opinion of the so-called elite a bit much, it’s not because these mental cases are not trying to do he has accused / shown, but rather because I find his ‘elite’ to be as I’ve previously stated totally inept, incompetent vegetables who are incapable of doing anything well or of substance. I’m really not exaggerating when you look at their track records of inscrutable failure, if only because of a lack of focus on and attention to such failure / corruption. This also includes the ‘pols’ who make the case for term limits based upon any previous service at all. I think people should be thankful that Infowars, Prison Planet, Jones, et als, value the people / humanity enough to take the very real risks, and expend his time and energy in sifting through the plethora of b* s, obfuscation, and cover-ups to reveal the truth. Given the inherent state of human nature, their lack of courage, integrity, etc., including that of americans generally, another area where I part company with Jones et als and which, truth be told led them to censor my comments to some of their articles (very hypocritical), such sacrifice by them seems very difficult to justify; but the discomfort they give the dysfunctional mainstream media is certainly a good thing of itself. ] Paul Joseph Watson & Kurt Nimmo | Dan Harris proves yet again why the establishment media is increasingly shunned and distrusted.

The True Cost of the War Paul Craig Roberts | America’s “war on terror,” a fabrication, has resurrected the unaccountable dungeon of the Middle Ages and the raw tyranny that prevailed prior to the Magna Carta.

Fluoride: Direct Engagement to Incite Public Inquiry Travis Crank | Wichita public servants outwardly deny the fluoridation of our water.

Eugenics Alert: World Bank Population-Reduction Lending Schemes Already Underway Jurriaan Maessen | The World Bank works in concert with all the other arms of the octopus.

As Usual, MSM Gushingly “Predicts” Our Fascist Future [ This is quite shocking inasmuch as they’d then be able to easily ‘off’ with a few simple modifications of the chip for any of a multitude of bad reasons / motifs. I would never, under any circumstances, permit this for myself, etc..] David Kramer | From the broadcasting arm of the number one New World Order industrial corporation, General Electric, comes this story about the “convenience” of being microchipped for identification.

Drudgereport: `UNEMPLOYMENT JUMPS TO 9.6%...`
`Economy LOST 283,000 jobs during 'Recovery Summer' months...`
`NPR: 'Recovery Summer' Ends With Economic Pothole...`
`Labor Sec. Declares: 'There are jobs out there'...`
`TREASURY HEAD RUSHES BACK FROM VACATION; AIDES SEARCH FOR OTHER JOBS PACKAGE...`
`120 Days to Go Until Largest Tax Hikes in History...`
`President Claims Job Creation; Doesn't Mention Net Job Loss of 54K...`
`HE NEEDS A VACATION: OBAMA TO CAMP DAVID...`
`Taxpayers to face initial loss on GM IPO; Treasury to sell first shares below break-even...`

David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression Burrows ‘Presciently bearish David Rosenberg, the chief economist and strategist at Gluskin Sheff who called the global meltdown back when he was still at Merrill Lynch, isn't budging from his view that the U.S. is in a depression -- and a prolonged, Japanese-style one at that. Rosenberg reminded clients on Wednesday that here we are 33 months after the Great Recession began, and yet home prices, gross domestic product, credit outstanding, organic personal income and employment are all lower now than they were prior to the onset of the downturn. "We can understand that this is not exactly cocktail conversation, but this is a Japanese-style (even worse perhaps) modern-day depression," Rosenberg writes. "It's not the 1930s because soup lines have been replaced with unemployment insurance lines -- over 10 million checks and for up to 99 weeks. The poor souls who endured the bitter 1930s had no such relief." And as for the U.S.'s vaunted labor flexibility and superior demographics saving it from a Japanese sort of lost decade or two, well, Rosenberg is having none of it. "Government policy and the record number of people upside-down on their mortgage have seriously impaired the flexibility of the labor market," Rosenberg writes. And the U.S. birth rate has declined for two consecutive years and is at its lowest level in a century, he notes. Of course, it's no surprise to buy-and-hold investors that U.S. equities have already notched a lost decade and then some. Take a look at this 10-year chart of the S&P 500 ($INX): See full article from DailyFinance: http://srph.it/aZTYr7’

Forced / Distressed / Underwater pending / foreclosure sales the impetus for short-covering / suckers’ rally on light and hence, easily manipulated, pre-holiday computerized trade volume. The government, desperate and defacto bankrupt, is back to their fake / false data reporting; you know, the kind that spurs the fraudulent wall street rallies and gets revised by 35% + down later as with GDP just recently, but the wall street frauds will get their commissions again on the way down. YAHOO [BRIEFING.COM]:    ‘…Early participants had little reason to alter their mood since the initial jobless claims count for the week ended August 28 came in at 472,000, which is in on par with the 475,000 initial claims that had been widely expected. The latest tally was also little changed from the prior week total of 478,000. Continuing claims saw a more substantial slip as they fell to 4.46 million from 4.48 million. Final nonfarm productivity readings for the second quarter also offered little surprise. Productivity in the quarter fell 1.8%, which is in stride with the 1.7% decline that had been widely forecasted. Unit labor costs for the quarter increased 1.1%, as expected. Pending home sales for July provided participants with a positive surprise. They posted a 5.2% monthly increase, which contrasts with the call for no change from economists polled by Briefing.com. That data overshadowed news that factory orders for July increased 0.1% instead of 0.3% as had been widely expected…’    Stocks rise on economic hopes ahead of payrolls (Reuters) Riiiiight! Sounds like a plan!

David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression Presciently bearish David Rosenberg, the chief economist and strategist at Gluskin Sheff who called the global meltdown back when he was still at Merrill Lynch, isn’t budging from his view that the U.S. is in a depression — and a prolonged, Japanese-style one at that.

9-3-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Mark Hulbert's Take: What Are the Odds of a September Decline? at Seeking Alpha (Fri, Sep 3) ‘Some of the work Mark Hulbert does is nothing more than telling us what the gurus in the universe he follows are thinking individually and, more frequently, in the aggregate. But of late, he also has been doing some far more interesting analysis in the “Yale Hirsch” mode – and the results are not satisfying if you are a bull.

The bullish case seems to rest on two platforms: (1) August was really bad therefore September should be good in reaction to that, and (2) “Everyone” now expects the current crop of politicos to suffer major setbacks in November and, since the market is a predictive mechanism, investors are positioning themselves today for what they believe will be wonderful news post-November (like an extension of the current tax rates and a reduction in pork-barrel spending by irresponsible pols.)

The Dow rallied more than 300 points the first two days of September so, making the usual straight-line assumption, bulls believe that today is the day to get invested, Hmmm. Let’s examine each of the above platforms in turn.

Quoting Mr. Hulbert’s conclusions based upon his historical analysis:

I have good news and bad news when it comes to slicing and dicing the historical data as it pertains to September.

The good news is that it is possible, by carefully reading the statistical tea leaves, to get advance insight into whether any given month is likely to do better or worse than average.

The bad news: Those tea leaves provide no such hope that this September will be able to beat its historical reputation as being awful for stocks.

His research shows that since 1896 (the year the Dow Jones Industrial Average was created,) the Dow has lost an average of 1.15% in September. The average gain for all other months was 0.71%. Worse, a look at the historical record shows that Septembers did not show a 1.15% decline following a bad August – they showed a 2.7% decline! Typically, when August is down, as goes August, so goes September -- only twice as bad as usual.

Worse than that, Hulbert notes, “During each of the past nine decades... September's rank relative to other months in terms of performance was never higher than ninth. It was dead last in five of those nine decades -- including the most recent one.”

He adds a final bit of gasoline to this bonfire by noting that the CBOE's Volatility Index (VIX) is relatively low going into September, the month tends to do better. Uh-oh. The VIX at the end of August was quite a bit higher than 20. (And for those who have followed our comments on the VXX and VXZ ETFs in the past, we believe they have now entered an excellent buy area.)

As for the second platform, the market seldom reacts favorably to the same news twice. I’ve been writing for two years that the pendulum will swing, that the 2008 election was a rejection of the guns-and-butter policy of the previous administration and was little different than the voters’ rejection of President Johnson’s guns and butter policies in 1968 (thrusting Richard Nixon into office with disastrous consequences we hope are not repeated this time around), and that mid-term elections are almost always about mitigating the euphoria of the previous presidential election. This is not news!

The rally of September 1^st and 2^nd may have occurred as a result of Johnny-come-latelies reaching the conclusion Wall Street reached about the mid-term elections weeks or months ago. If that is the case, I imagine the smart money is rubbing their hands with glee and using this rally to lay on bigger short positions.

The current rally was ostensibly about the fact that the Chinese Purchasing Managers Index rose to 51.7 in August from 51.2 in July, followed by the news that the U.S. ISM Manufacturing Index improved from 55.5 in July to 56.3 in August. I don't see it – these incremental numbers are nothing but decimal dust in the grand scheme of things! Easily manipulated by the bureaucrats in charge of such numbers, the “improvement” is so small as to be barely measurable – and to raise not a stir among the media when they are “revised” from “up 0.5%” to “down 0.1%” or whatever in another month.

The other economic numbers that form the backdrop to this rally include: Canada’s GDP fell to an annual rate of 2% in the 2^nd quarter, down from 5.8% in Q1; auto sales absolutely plunged in the U.S. and around the world; there was a continued drop in U.S. construction spending; there were declining retail sales in Euro nations; and the ADP employment report indicating that we didn’t just grow jobs at too slow a pace to cover all the new workers entering the labor force, but we actually lost some 10,000 private sector jobs! Government is still hiring, of course, but we must always remember: the private sector is income, government is overhead. That doesn’t mean we don’t need certain government workers – what hellish existence would it be without fire and police protection, or good teachers to educate our children? But it is still overhead even if we collectively choose to pay for it in order to enhance our safety or literacy.

Bottom line: September tends to do worse in years that August has been bad. August was bad. The news of the mid-term elections is already old news and will most likely follow the historical path of all mid-term elections. We will return more to the center. And the good news to propel the market higher is likely to be short-lived. Clearly, we aren’t out of the woods yet. If the market is in a news-dominated phase, we are likely in big trouble.

For our clients we are stressing safety, with inverse ETF protection from the likes of ProShares Short S&P 500 (SH), ProShares Short Russell 200 (RWM), ProShares UltraShort Nasdaq (QID) and ProShares Short MSCI Emerging Markets (EUM). (If the US and Europe aren’t consuming, who is going to order stuff from the emerging nations? They will fall if our markets and economies fall…) We are also buying VXX and VXZ and are keeping our bond positions short and inflation-resistant, as we do with WIP, TIP, BWZ, and MINT. Finally, we own some special situations in precious metals, energy and agriculture. (See previous articles for specifics, including this and this...)

AP Business Highlights [ Wow! ‘Private employers hired more workers over the past three months than first thought’ … Riiiiight! Especially with 2 months to the mid-term elections (time for federal term limits and the abolition of lifetime appointments for anything owing to the nation’s defacto bankruptcy), desperation with fake / false data / reports; and, that negative but better than expected thing as unemployment rate inches up to 9.6% (the real unemployment rate is approximately 20+% with that ‘stopped looking’ fudge-factor giving them the false positive). I mean, come on! Private reports on non-farm payrolls down each week, but suddenly from out of nowhere defying virtually all economist estimates the ue claims are up, and prior gov’t reports revised up. This is a great opportunity to sell / take profits! ]Companies add 67K workers, but jobless rate rises WASHINGTON (AP) -- Private employers hired more workers over the past three months than first thought, a glimmer of hope for the weak economy ahead of the Labor Day weekend. But the unemployment rate rose because not enough jobs were created to absorb the growing number of people looking for work ...’

Stocks Churning in Trading Range: Dave's Daily ‘This will be short. Perhaps the image [old lady (wall street) churning (scam) butter (stocks)] and title should suffice as a summary of the week. After all, I indicated "possibly" I might post on Friday. The current market is a reprise of early July's rally from June's selloff. Now into September the August lows are reversing. How durable will this be is anyone's guess. Economic data was greeted with bullish enthusiasm as markets were oversold after Monday's slump. The unemployment data was just about the same as previous once you look deeper inside the data. The birth/death model is just an estimate made out of thin air. Once you view the data ex-that, things look pretty grim. There are very few players involved this week and perhaps in the future. It's interesting many major banks are closing their proprietary trading operations. This removes another important prop to markets as retail investors have left the scene. Further, for stock mutual funds, the exodus continues for the 16^th straight week. Cash balances at these funds are at historic lows of 3% as the outflow continues. Curiously, short interest is also at an all-time low near 4% meaning few for bulls to squeeze. We only have hedge funds and overseas investors in the game. And, it does seem like a game more than ever now. Bulls jumped on the oversold conditions on Wednesday as a DeMark 9 was registered on Tuesday for most major market daily charts then. A rally on that technical condition was no surprise ...’

Important Manufacturing Indicators Look Weak at Seeking Alpha (Fri, Sep 3)

Consumption Contraction Approaches 2008 Low at Seeking Alpha (Fri, Sep 3)

Beware the Big Red Leading Indicator at Seeking Alpha (Fri, Sep 3)

Small Investors Turns More Bullish (contrarian indicator) at Seeking Alpha (Fri, Sep 3)

Unemployment Rate Edges up to 9.6% at TheStreet.com (Fri, Sep 3)

AAII Sentiment Survey: Bullish Sentiment Improves, But Bearishness Still Dominates at Seeking Alpha (Fri, Sep 3)

Monthly Markets Review: Risk Aversion Rises in August as Double Dip Concerns Grow at Seeking Alpha (Fri, Sep 3) ‘…The ECB keeping rates at a record low of 1% and zero interest policies in the US and in most western economies remains bullish for gold as the opportunity cost, the lack of yield, of owning gold is negligible, especially with inflation having picked up recently in many economies internationally. Further signs of burgeoning food inflation were seen in the surge in the price of global meat prices which have risen to 20 year highs … (chart) September can be the 'cruelest month' for stocks. Conversely, more years than not, precious metals prices perform well in September and many analysts reckon this year will not disappoint those owning gold. Given the uncertain financial and economic outlook, it is important that investors remain diversified with allocations to cash, short dated government bonds, international equities, and gold…’

More than 400 US Banks Will Fail: Roubini CNBC | More than half of the 800-plus US banks on the “critical list” are likely to go bust, according to renowned economist Nouriel Roubini.

U.S. unemployment soars to 9.6% after economy loses 54,000 jobs The U.S. unemployment rate rose to 9.6 per cent in August, official figures released today have shown. The data from the U.S. Labor Department showed the economy lost 54,000 jobs last month as the United States continues to struggle to recover from the recent global recession.

Government Economic Leaders Surprised that Real World Isn’t Responding to their Magic Pixie Dust Many have tried to explain to the neoclassical economists running the show exactly how bad the economic collapse would be, why it was so bad, and how to mount an adequate response to fix things. But Bernanke, Romer and the rest of the gang ignored them.

Why Lessons From The First Great Depression Mean The Next Four Months Will Be Very Painful For Stockholders Scott Minerd, CIO of Guggenheim Partners, parses through the years of the Great Depression, and focuses on the pivotal 1936, which contained in it the seeds for the destruction of the period of relative economic growth and stability from 1932 to 1936.

Michael Pento Says Fed Will Buy Stocks And Real Estate In Its Next Attempt To Create Inflation Zero Hedge | Pento also goes into explaining why housing is facing a “deflationary depression,” and a further collapse in pricing, why inflation benefits only those closest to the money, i.e., the banks and the military complex.

The U.S. Path to Collapse National Inflation Association | The pain that was felt after the collapse of Lehman Brothers is nothing compared to the pain that will come when we begin to feel the effects of bailing out the rest of Wall Street.

National / World

Globalist Soros Launches Frontal Assault Against Tea Party Kurt Nimmo | Soros and the foundation left have launched a website designed to go after the growing Tea Party movement.

ABC Nightline Hit Piece Smears Alex Jones As King of “Paranoia Porn” [ Yeah! This is unequivocally indefensible on the part of abc (or nbc, fox, cbs, etc. if they shared a similar mainstream media view) because there are so many substantial nation-damaging behaviors that are in plain sight yet go unreported (and unprosecuted). I’d feel more comfortable with a Washington Post Network (possibly as a wholly owned subsidiary to militate against the risks inherent to such a venture and the establishment of same). While I do find Alex Jones’ somewhat overstated vaunted opinion of the so-called elite a bit much, it’s not because these mental cases are not trying to do he has accused / shown, but rather because I find his ‘elite’ to be as I’ve previously stated totally inept, incompetent vegetables who are incapable of doing anything well or of substance. I’m really not exaggerating when you look at their track records of inscrutable failure, if only because of a lack of focus on and attention to such failure / corruption. This also includes the ‘pols’ who make the case for term limits based upon any previous service at all. I think people should be thankful that Infowars, Prison Planet, Jones, et als, value the people / humanity enough to take the very real risks, and expend his time and energy in sifting through the plethora of b s*, obfuscation, and cover-ups to reveal the truth. Given the inherent state of human nature, their lack of courage, integrity, etc., including that of americans generally, another area where I part company with Jones et als and which, truth be told led them to censor my comments to some of their articles (very hypocritical), such sacrifice by them seems very difficult to justify; but the discomfort they give the dysfunctional mainstream media is certainly a good thing of itself. ] Paul Joseph Watson & Kurt Nimmo | Dan Harris proves yet again why the establishment media is increasingly shunned and distrusted.

The True Cost of the War Paul Craig Roberts | America’s “war on terror,” a fabrication, has resurrected the unaccountable dungeon of the Middle Ages and the raw tyranny that prevailed prior to the Magna Carta.

Fluoride: Direct Engagement to Incite Public Inquiry Travis Crank | Wichita public servants outwardly deny the fluoridation of our water.

Eugenics Alert: World Bank Population-Reduction Lending Schemes Already Underway Jurriaan Maessen | The World Bank works in concert with all the other arms of the octopus.

As Usual, MSM Gushingly “Predicts” Our Fascist Future [ This is quite shocking inasmuch as they’d then be able to easily ‘off’ with a few simple modifications of the chip for any of a multitude of bad reasons / motifs. I would never, under any circumstances, permit this for myself, etc..] David Kramer | From the broadcasting arm of the number one New World Order industrial corporation, General Electric, comes this story about the “convenience” of being microchipped for identification.

Drudgereport: `UNEMPLOYMENT JUMPS TO 9.6%...`
`Economy LOST 283,000 jobs during 'Recovery Summer' months...`
`NPR: 'Recovery Summer' Ends With Economic Pothole...`
`Labor Sec. Declares: 'There are jobs out there'...`
`TREASURY HEAD RUSHES BACK FROM VACATION; AIDES SEARCH FOR OTHER JOBS PACKAGE...`
`120 Days to Go Until Largest Tax Hikes in History...`
`President Claims Job Creation; Doesn't Mention Net Job Loss of 54K...`
`HE NEEDS A VACATION: OBAMA TO CAMP DAVID...`
`Taxpayers to face initial loss on GM IPO; Treasury to sell first shares below break-even...`

David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression Burrows ‘Presciently bearish David Rosenberg, the chief economist and strategist at Gluskin Sheff who called the global meltdown back when he was still at Merrill Lynch, isn't budging from his view that the U.S. is in a depression -- and a prolonged, Japanese-style one at that. Rosenberg reminded clients on Wednesday that here we are 33 months after the Great Recession began, and yet home prices, gross domestic product, credit outstanding, organic personal income and employment are all lower now than they were prior to the onset of the downturn. "We can understand that this is not exactly cocktail conversation, but this is a Japanese-style (even worse perhaps) modern-day depression," Rosenberg writes. "It's not the 1930s because soup lines have been replaced with unemployment insurance lines -- over 10 million checks and for up to 99 weeks. The poor souls who endured the bitter 1930s had no such relief." And as for the U.S.'s vaunted labor flexibility and superior demographics saving it from a Japanese sort of lost decade or two, well, Rosenberg is having none of it. "Government policy and the record number of people upside-down on their mortgage have seriously impaired the flexibility of the labor market," Rosenberg writes. And the U.S. birth rate has declined for two consecutive years and is at its lowest level in a century, he notes. Of course, it's no surprise to buy-and-hold investors that U.S. equities have already notched a lost decade and then some. Take a look at this 10-year chart of the S&P 500 ($INX): See full article from DailyFinance: http://srph.it/aZTYr7’

Forced / Distressed / Underwater pending / foreclosure sales the impetus for short-covering / suckers’ rally on light and hence, easily manipulated, pre-holiday computerized trade volume. The government, desperate and defacto bankrupt, is back to their fake / false data reporting; you know, the kind that spurs the fraudulent wall street rallies and gets revised by 35% + down later as with GDP just recently, but the wall street frauds will get their commissions again on the way down. YAHOO [BRIEFING.COM]:    ‘…Early participants had little reason to alter their mood since the initial jobless claims count for the week ended August 28 came in at 472,000, which is in on par with the 475,000 initial claims that had been widely expected. The latest tally was also little changed from the prior week total of 478,000. Continuing claims saw a more substantial slip as they fell to 4.46 million from 4.48 million. Final nonfarm productivity readings for the second quarter also offered little surprise. Productivity in the quarter fell 1.8%, which is in stride with the 1.7% decline that had been widely forecasted. Unit labor costs for the quarter increased 1.1%, as expected. Pending home sales for July provided participants with a positive surprise. They posted a 5.2% monthly increase, which contrasts with the call for no change from economists polled by Briefing.com. That data overshadowed news that factory orders for July increased 0.1% instead of 0.3% as had been widely expected…’    Stocks rise on economic hopes ahead of payrolls (Reuters) Riiiiight! Sounds like a plan!

[$$] U.S. Equity ETFs Implode** ‘U.S. equity ETFs hemorrhaged assets during the month of August as investors sought out emerging-market equity and debt along with fixed-income picks. According to National Stock Exchange data (nsx.com) released today, U.S. equity ETFs shed nearly $11 billion in assets last month. Here's something remarkable: One U.S. equity ETF accounted for more than half of these outflows. The SPDR S&P 500 ETF, arguably the ETF industry's most iconic fund, saw net outflows totaling more than $6.6 billion last month. Who were the biggest losers besides SPY? You'll recognize some of these names: the PowerShares QQQ ETF, the iShares Russell 2000 ETF and the SPDR DJIA ETF saw net asset outflows of $2 billion, $1.7 billion and $616 million, respectively. At the other end of the spectrum, the Vanguard MSCI Emerging Markets ETF and the iShares MSCI-Emerging Markets ETF attracted $1.9 billion and $1.8 billion, respectively, while the...’

Those Who Ignore History... [The aforementioned from The Pragmatic Capitalist is a cogent summary of extant problems which undoubtedly will end quite badly for the unwary (today’s folly represents a great opportunity to sell / take profits), infra, and should be read in tandem with Graham Summer’s exposé which follows. Yet, the situation as realistically bad as they’ve so presented same, is far more dire than even they posit for the u.s. particularly owing to structural problems now inherent to america’s economy / business model which bodes ill as never before in america’s relatively short history. U.S. Stocks Surge On Overseas Growth Riiiiight! Some of the same mainstream, (msnbc) ‘money honey’ drivel one would expect from Forbes faux ‘capitalist tool’ cheerleading squad, totally devoid of forward-looking analytical prowess and leaves you burned every time. Come on! Government Motors and Ford sales were down significantly, construction spending down, private sector jobs lost, and even BofA’s Merrill Lynch has sugar-coated the reality cutting the wall street frauds a break by calling this a ‘growth rececession’. The typical fraudulent wall street churn-and-earn computerized trade scam with built in commission volume for the way down. Sorry to say it, but the reality is: This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]
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 Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent). ] The Pragmatic Capitalist ‘My position over the last 2 years has been as follows: this is a Main Street debt crisis. I have been highly critical of the government’s incessant interventionist policies over the last few years largely because they ignore the actual problems at hand. First it was Mr. Bernanke saving the banks because he believed the credit crisis started with the banking sector. The great monetarist gaffe ensued. Tim Geithner piled on with the PPIP. FASB jumped on board the bank rescue plan by altering the accounting rules. And then the icing on the cake was the Recovery Act, which, in my opinion, just shoveled money into the hole that had become the output gap, without actually trying to target the real cause of the crisis – those burdened by the debt. In essence, the various bailouts primarily targeted everyone except the people who really needed it.

A year ago I posted a story citing the many reasons why we were sinking into the deflationary Japanese trap. The primary flaw with the US response to the crisis was that we never actually confronted the problem at hand. I have often cited Japanese economists such as Richard Koo who appear to have a good grasp on the problems in Japan and now in the USA. In this case, I cited Keiichiro Kobayashi who is now looking most prescient:

We continue to ignore our past and the warnings from those who have dealt with similar financial crises. Keiichiro Kobayashi, Senior Fellow at the Research Institute of Economy, Trade and Industry is the latest economist with an in-depth understanding of Japan, who says the U.S. and U.K. are making all the same mistakes:

“Bad debt is the root of the crisis. Fiscal stimulus may help economies for a couple of years but once the “painkilling” effect wears off, US and European economies will plunge back into crisis. The crisis won’t be over until the nonperforming assets are off the balance sheets of US and European banks.”

Read that last paragraph again. These are scarily accurate comments. While the USA claims to have many economists who understand the Japan disease and/or the Great Depression the policy actions we’ve undertaken do not appear to be in line with any understanding of this history.

What we’ve done over the last few years is repeat the mistakes of Japan’s past. Instead of confronting the debt problems head on we have simply tried to fill the output gap with short-term spending plans and impotent monetary policies. As Kobayashi presciently said, the “bad debt is the root of the crisis”. I think most mainstream economists, the administration and the Fed have continually misdiagnosed our problems. They have attempted to save the banking sector and simply fill in holes with spending plans that prop up markets, entice more borrowing and largely ignore the actual cause of the current crisis. Some economists have argued that the Recovery Act didn’t fail, but that it was too small. This is like saying that the cancer patient didn’t receive enough percocet. More percocet isn’t the cure. Targeting the cancer and trying to cut it out is the cure. Yet, we continue to ignore the lessons of Japan despite having so many “experts” on the Japanese disease. Therefore, we appear destined to repeat their horrid economic history assuming our current path isn’t miraculously altered.’

WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the lunatic frauds on wall street are criminally insane and the only way to stop / deter their debilitating churn and earn among other computerized frauds is prosecution, jail, fines, and disgorgement! Once again they’re back to their huge fraudulent gains as seen this reporting period despite growing problem bank list, worthless paper from the prior fraud in the (hundreds of) trillions now marked to anything, and look at August results and worse to come; that money for their commissions / premiums must come from someplace, viz., the bubble which will deflate / crash. ] Graham Summers ‘Here’s a zinger of a news story:

Barclays Plc had no idea how big Lehman Brothers Holdings Inc.’s futures-and-options trading business was when it considered taking over the defunct bank’s derivatives trades at exchanges in 2008, a Barclays executive said.“Lehman’s books were in such a mess that I don’t think they knew where they were,” Elizabeth James, a director of Barclays’s futures business, testified today in U.S. Bankruptcy Court in Manhattan. James worked on Barclays’s purchase of Lehman’s brokerage during the 2008 financial crisis.-- Bloomberg

I’ve railed for months that the central issue surrounding the Financial Crisis (derivatives) was not only misunderstood but completely ignored by the mainstream financial media. Here we are, nearly two years after Lehman Brothers went bust, and they’re telling us that Lehman had “no idea” what its options and futures exposure was.

Let’s put this into perspective.

The notional value of the derivatives market at the time that Lehman went bust was somewhere between $600 trillion and $1 Quadrillion (1,000 trillions). It was a market of inter-linked paper contracts entangling virtually every financial institution (including some non-financials), country (Greece, Italy used derivatives to get into the European union), and county (Birmingham Alabama is one example) in the world. As a market it was at least 20 times larger than the world stock market and somewhere north of 10 times World GDP.**

In other words, this was the giant white elephant in the living room.

And here’s Lehman brothers, one of Wall Streets’ finest, most respected financial institutions which had been in business for over 150 years announcing that it had “no idea” “if it had sold $2 billion more options than it had bought, or whether it owned $4 billion more than it had sold.”

In today’s world of trillion dollar bailouts, $2-4 billion doesn’t sound like much, so let’s give some perspective here… in its golden days, Lehman Brother’s market cap was roughly $47 billion. So you’re talking about bets equal to an amount between five and 10% of its market cap. Not exactly chump change.

And Lehman had no idea where it was or how much it really owed.

Mind you, we’re only addressing Lehman’s options and futures derivatives, we’re completely ignoring its mortgage backed securities, collateralized debt obligations (CDOs), and other Level 3 assets. Options and futures are literally the “tip of the iceberg,” the most visible portion of the behemoth that was Lehman’s off balance sheet derivative issues. After all, these are regulated securities, unlike most derivatives.

Now, if the above statement doesn’t send shivers down your spine, have a look at the notional value of derivatives exposure at the top five financial institutions in the US (mind you, this chart is denominated in TRILLIONS). [chart]

If Lehman had “no idea” what it owned even when it came to options and futures (regulated derivatives), what are the odds that these other firms, whose derivative exposure is tens if not hundreds of times larger than that of Lehman’s, might similarly be “in the dark’ regarding their risk?

Moreover, who on earth might be on the opposite end of these deals? Other US counties like Birmingham Alabama (which JP Morgan transformed into 3rd world country status)? Other countries like Italy or Greece (who used Goldman’s financial engineering to get into the European Union)? My next-door neighbor’s house? Tim Geithner’s long-lost tax returns? WHO KNOWS?

The point is that the very same issues that nearly took the financial world under in 2008 still exist today. In fact, this time around the systemic risk is even more severe.

Consider that the Credit Default Swap (CDS) market which nearly took the financial system down in 2008 was roughly $50-60 trillion in size. In contrast, the interest rate based derivative market is in the ballpark of $500+ trillion.

Indeed, US commercial banks alone have $182 TRILLION in notional value of interest rate based derivatives outstanding right now. To put that ridiculous number in perspective it’s 13 times US GDP and roughly three times WORLD GDP…’

Pa. capital nearing bankruptcy (Washington Post) [ Sounds like a dry run for the nation’s capital. `Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable … Everyone who is capable of thinking` knows america is defacto bankrupt. The question is, how did Morgan Stanley’s assessment escape scrutiny and follow-up by the press. Indeed, it is certainly a breach of duty to have done so in light of the implications. ] In a highly unusual move, the city of Harrisburg says it will not make a $3.3 million payment.

Automakers report weak sales (Washington Post) [ This really is sobering, yet totally lost on the frauds that be on wall street. ‘Cheapskates’? Mr. Whoriskey should be ashamed of himself. After all, you can’t spend what you don’t really have (unless you’re defacto bankrupt … america ) and, let’s not kid ourselves, Mr. Whoriskey has to be considered somewhat ‘ivory tower’. ] Chastened by the recession, more U.S. consumers have become cheapskates: They are saving more and driving older cars. And that, in part, explains the historically dismal sales reports released Wednesday by automakers.

Manufacturing rebound spurs stock rally (Washington Post) [ Riiiiight! That new global hub of (very high priced) manufacturing activity … Defacto bankrupt america …I don’t believe the ISM number for even a minute, even with the defacto bankrupt government’s market-frothing spending of money they definitely don’t have and believe the forecasters were closer to reality.] After their worst August in nine years, stocks kicked off September with a big snap-back rally, following the release Wednesday of surprisingly good news about the U.S. manufacturing sector.

Obama prods Mideast leaders (Washington Post ) [ The real question is … who is going to prod defacto bankrupt, war crimes nation america … on peace, that is. Then there’s that ‘oh, it’s just war crimes, illegal nuke-toting israel … laws, rules, un resolutions, etc., don’t apply to them factor and the concomitant skepticism attendant thereto. ] Israeli Prime Minister Netanyahu and Palestinian President Abbas are set to open direct peace talks.

Drudgereport: `Auto sales: Worst August since 1983...`
`AMERICA RUST-` `India's economy races 8.8%...`
`Russian economy grows 4.0%...`
`German unemployment rate 7.6%...`

`FDIC MESS: 829 BANKS AT RISK... 48 HOURS: 21 American soldiers killed in Afghanistan...`

`Worst August For Stocks Since 2001...`

`Congressional Travel Stipends Probed...`
`Dems face midterm meltdown...`
`Ron Paul questions whether there's gold at Fort Knox, NY Fed...`

`Dow Falls 140 Points; Banks, Industrials Slide...`
`1 OUT OF 6 TAKE GOV'T AID... Homelessness Up 50% In New York City... OBAMA BLAMES BUSH AGAIN FOR ECONOMY … [ bush (et als) does deserve blame but with flawed pro-fraudulent wall street among other non-policies and continued nation-bankrupting war, wobama is a distinction without a difference and has bought it and can no longer shirk responsibility with the blame game ] ... Iran state media call French first lady prostitute...`

`EDUCATION SEC URGED STAFF: GO TO SHARPTON RALLY`

Increase in federal spending hits record (Washington Post) [ Sounds like a plan … the ‘increase the depth of the nation’s bankruptcy’ plan! And, unlike other american plans, this plan’s working … that bankruptcy thing … but otherwise, not! ]

Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of the U.S. Courts recently reported that bankruptcy filings between April and June hit a four-year high. Consumer bankruptcies rose 21 percent while business bankruptcies increased eight percent. The list of corporate bankruptcies over the last couple of years includes big names like Lehman Brothers, Washington Mutual, and GM. And financial institutions like Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC) received billions of dollars through the federal government's Troubled Asset Relief Program. Should investors add the U.S. government to that list of big name bankruptcies? I recently asked Boston University economics professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking.
**Mac Greer: Larry, I noticed the headline or the title of a recent article that you wrote, US is Bankrupt and We Don't Even Know It (see infra)

Home prices up 4.2 percent in U.S. (Washington Post) [And america and ultimately taxpayers paid for every percentage point with money they and soon taxpayers don’t have and experts say the expiration of same will further be felt in the form of declining real estate prices going forward. ]

For banks, good news on earnings but not risk of failure (Washington Post) ( The same fraudulent game plan that caused the previous and continuing debacle: The following from Graham Summers is truly mind-boggling and a must-read: WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the lunatic frauds on wall street are criminally insane and the only way to stop / deter their debilitating churn and earn among other computerized frauds is prosecution, jail, fines, and disgorgement! Once again they’re back to their huge fraudulent gains as seen this reporting period despite growing problem bank list, worthless paper from the prior fraud in the (hundreds of) trillions now marked to anything and the current fraud, and look at August (market) results and worse to come, that money for their commissions / premiums must come from someplace, viz., the bubble which will crash. ] ) Lenders post their biggest quarterly profit in almost three years, even as the number of banks at risk of failure rose to 11 percent of insured institutions.

Obama: 'It is time to turn the page' on Iraq war (Washington Post) [ Oh come on! How patronizing to have wobama spew his b* s* which b.s. has become synonomous with wobama; ‘to give Iraqis the chance to shape their future’… Iraq’s been destroyed, covered in cancer-causing depleted uranium, america’s defacto bankrupt, etc. If only teleprompters had a brain of their own. ] He says the U.S. "has paid a huge price" to give Iraqis the chance to shape their future -- a price that now includes more than 4,400 U.S. dead.

U.S. looks to replicate Iraq strategy, tactics (Washington Post ) [Oh right! Stick with that winning plan that worked so swimmingly (as in drowning, in ie., debt, death, regional if not wordly anti-american sentiment, etc.)]. In Kandahar, U.S. military officials hope that a secure green zone, similar to the area in Baghdad, will make it more difficult for Taliban insurgents to mount attacks to key buildings in the Afghan city.

7 U.S. troops die in Afghanistan violence (Washington Post) [ I was discussing my opposition to the contrived conflict in Iraq with a former air force man with high (top?) security clearance from economic, geopolitical, and humanitarian perspectives; and further, mentioned I had sought and gotten an appointment to West Point (I was exempt) so I could go (Vietnam) as an officer rather than a grunt who were being used as mere cannon fodder as now in Iraq (I also related the fact that I am thankful, for a multitude of reasons, I changed my mind in light of then new realities). He replied, quite seriously, that’s what they’re there for… No they are not! But yes, that is their unequivocal, unforgiveable attitude beyond the b* s* (look at cheney-5 deferments, bush-powderpuff duty courtesy of poppy bush, clinton-draft dodger, wobama-never served, etc.. Just a destructive waste!) The latest deaths bring to 42 the number of American forces who have died this month in Afghanistan after July's high of 66.

Ron Paul to Fed, Ft. Knox: Show Me the Gold at Minyanville

The Deteriorating Macro Picture ‘Over the course of the last 18 months I’ve been adhering to a macro view that can best be summed up as follows:

The explosion in private debt (excessive housing borrowing, excessive corporate debt, etc) levels would reveal the private sector as unable to sustain positive economic growth, de-leveraging and deflation would ensue.

Government intervention would help moderately boost aggregate demand, improve bank balance sheets, improve sentiment, boost asset prices but fail to result in sustained economic recovery as private sector balance sheet recession persists.

Extremely depressed estimates and corporate cost cutting would improve margins and generate a moderate earnings rebound, but would come under pressure in 2010 as margin expansion failed to continue at the 2009 rate.

The end of government intervention in H2 2010 will reveal severe strains in housing and will reveal the private sector as still very weak and unable to sustain economic growth on its own.

The rebound in assets was surprisingly strong and the ability of corporations to sustain bottom line growth has been truly impressive – far better than I expected. However, I am growing increasingly concerned that the market has priced in overly optimistic earnings sustainability – in other words, estimates and expectations have overshot to the upside.

What we’ve seen over the last few years is not terribly complex in my opinion. The housing boom created what was in essence a massively leveraged household sector. The problems were compounded by the leveraging in the financial sector, however, this was merely a symptom of the real underlying problem and not the cause of the financial crisis (despite what Mr. Bernanke continues to say and do to fix the economy) …’

Gold Surges To Near $1,250, As Stealthy Flight To Safety Accelerates, Stocks Oblivious As stocks continue to correlate with exactly nothing, and are once again lost in their own HFT dreamworld, which fools Atari in believing the toxic crap it is churning millions of times each second is worth something (and the exchanges gladly continue to pay liquidity rebates for said churn), the capital continues to quietly flow to safety.

Bankrupt Miami in Fiscal Emergency, Breaks Employee Contracts, Hikes Property Taxes In an enormously foolhardy attempt to make ends meet, in spite of the fact that Miami home prices have been hammered and 1-in-8 are unemployed, the County keeps pouring on the painful tax and fee increases.

Gold Rallying to $1,500 as Soros’s Bubble Inflates Investors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most- accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds.

30 Statistics That Prove The Elite Are Getting Richer, The Poor Are Getting Poorer And The Middle Class Is Being Destroyed Not everyone has been doing badly during the economic turmoil of the last few years. In fact, there are some Americans that are doing really, really well. While the vast majority of us struggle, there is one small segment of society that is seemingly doing better than ever.

In the Eye of a Financial Katrina - http://seekingalpha.com/author/wall-street-sector-selector Sunday, August 29th, was the fifth anniversary of Hurricane Katrina’s landfall along the Gulf Coast and all of us vividly remember the horrific images of that day and the days and weeks after. Five years later, the Gulf Coast has come a long way but most would agree there’s still have a long way to go and many scars yet to be healed. In the world of money and investing, the Financial Katrina hit three years ago this month with the beginning of the sub prime meltdown that led to the “Great Recession.” For the past year or so, we have been in what appeared to be a recovery but now looks more like the eye of the storm; today it is quite likely that the second wall of the hurricane is now rapidly bearing down upon us. The news this week was intensely negative and the only bright spot came on Friday with Chairman Bernanke’s speech at Jackson Hole in which he essentially told us, “don’t worry, be happy” and that all would be well. In spite of the Chairman’s calming tone, Wall Street Sector Selector remains in the “red flag flying” mode and we believe that an intense storm lies just ahead. Looking at My Screens** On a technical basis, one can only be bearish and the two charts below tell a quick and scary story. [ chart courtesy of StockCharts.com ]In the chart of the S&P 500 above we see the “death cross” highlighted by the downward pointing arrow wherein the 50-Day Moving Average crossed below the 200-Day Moving Average which is a widely followed indicator of lower stock prices ahead. In the upper box we see the 14-day RSI pointing upwards from relatively oversold levels indicating that a short term bounce could be forthcoming, while the red horizontal line shows the support at 1040 which was tested and held every day last week. From this display we can conclude that we are in a bear market, slightly oversold and near support that, if broken, could lead to a quick drop to the July lows of 1010. [ chart courtesy of StockCharts.com ] The point and figure chart above paints an even more ominous picture. A double bottom “sell” signal was generated on August 11th and the index has now broken through the blue bullish support line, indicating the onset of a new bear market in this major index. Support and resistance lines in point and figure charting tend to act like firm walls and mark major turning points in direction, and this recent trend change is the first since March, 2009, when the lows were hit and last year’s unprecedented rally began. The breach of this bullish support line is a major development and in my opinion is an unmistakable sign that it’s time to head for the storm shelters. The View from 35,000 Feet The fundamental news was equally shocking this week as existing home sales declined to 3.8 million units for July from a previous level of 5.26 million. This number is a record low and single family home sales were at the lowest levels since 1995. Truly we are in what could only be described as a housing market depression, and this comes in spite of historically low mortgage rates that people appear to be ignoring. Seemingly almost nobody wants to buy a house at any rate or any price. New home sales fared no better, declining to record lows, as well, while 25% of mortgage holders are currently “upside down” in their homes, owning more than they’re worth, and 15% are in some part of the foreclosure process. Beyond the dismal news from the housing market, the July Durable Goods report was dismal and points to an ongoing slowdown in capital spending and on Friday 2nd Quarter GDP was revised downward to 1.6% from a previous 2.4% in what could only be described as a terrifying result in light of the stimulus and Federal Reserve intervention required to generate this paltry number. More and more analysts are pointing to further reductions in GDP for 3rd Quarter towards flat or even negative territory while the stock market seems currently priced for 1.5-2.5% growth and this creates a situation which is unlikely to have a positive outcome going forward. Looking across the spectrum of noted analysts, we find Princeton economist and former Federal Reserve member Alan Blinder writing an article in the Wall Street Journal titled, “The Fed is Running out of Ammo” and noted Yale economist Robert Shiller appeared on the Wall Street Journal’s “Big Interview” and said that a double dip “may be imminent.” And finally Albert Edwards, the noted analyst from Societe General says to look for 450 on the S&P 500, a roll back to 1982 levels. Fidelity reports that in the second quarter 25% of people took hardship withdrawals from their 401ks, a number that represents a 10 year high, to help them meet living expenses and the ECRI remained in recessionary territory with a -9.9% reading last week. On Friday Intel (INTC) cut its earnings and revenue forecast and across the Atlantic Ireland was downgraded and given a negative outlook by S&P. Also in Europe, interest rates and Credit Default Swap pricing continued to rise as their sovereign debt situation continues to erode confidence in the outcome of the European Central Bank’s historic intervention efforts of a couple of months ago. The bond market remains priced for Armageddon, forming what many say will one day be the biggest bubble of all time and lead to a historic crash in the bond market somewhere down the road. But on Friday, Dr. Bernanke cheered world markets when he told us that he expected no double dip, that growth would continue and improve and that he and his colleagues stood ready to do whatever it takes to avoid deflation and that he had the tools to lead the global economy to recovery. This upbeat assessment comes after unprecedented government stimulus, interest rates lowered to near zero and $1.7 Trillion of asset purchases by the Fed since the onset of the Great Recession. So one can only wonder how this is going to work. If the medicine hasn’t worked so far, why would a little more of the same medicine make a difference? What It All Means As we’ve been saying for weeks, a double dip looks highly probable with the odds growing daily, lower stock prices look likely and to make your chest feel even tighter, summer is almost over, traders will be back from the Hamptons, the kids will be back in school and we’re about to enter the dreaded month of September which is historically the worst month for stock market performance. At Wall Street Sector Selector, we remain in the “Red Flag” mode, expecting lower prices ahead, and we forecast that the second storm wall of the Financial Katrina is about to hit. The Week Ahead To say that a major week lies ahead is a massive understatement. Economic Reports: A busy round of economic reports this week will give us a look at personal income and spending, home prices, manufacturing and what the Federal Reserve really thought at their recent meeting with everything leading up to the climactic Non Farm Payroll report on Friday. Certainly all of this will be food for thought going into the long Labor Day weekend. Tuesday: 0900: Case/Shiller 20 City Home Price Index 0945: August Chicago PMI 1000: August Consumer Confidence. 1400: FOMC Meeting Minutes Wednesday: 0815: July Construction Spending 1000: August ISM Index 1400: August Auto Sales Thursday: 0830: Initial Unemployment Claims, Continuing Unemployment Claims 1000: July Factory Orders 1000: July Pending Home Sales Friday: 0830: August Non Farm Payrolls 0830: August Unemployment Rate 1000: ISM Services Sector Spotlight: Leaders: Silver, Oil, Copper Laggards: Mexico, Global Shipping, South Korea This week we’re heading for Southwest Florida for a last week of R&R before school starts and reality strikes after the long Labor Day weekend. We hope to have a nice time on the beach and not see any tar balls between our toes. Sadly, I’m sure this year’s Labor Day celebration won’t be a particularly happy occasion for the 14.6 million of our fellow citizens who remain unemployed and I can only wish them the very best and a speedy return to gainful employment and happier days ahead. Disclosure: RWM, PSQ, SH, SEF, EFZ, SKF, VXX, S&P 500 Put Option

Obama promises new efforts to boost economy (Washington Post) [ New efforts with the same old failed team covering for the previous same old failed team? The same promised new efforts which were nothing new at all; viz., focus on new war in Afghanistan, increase budget deficits, a penchant for the very perps who precipitated the financial crisis and who should have been prosecuted, jailed, fined and disgorgement imposed, etc.. No details? What’s the matter wobama? Teleprompter not working? ]Obama offered no new proposals during brief remarks in the Rose Garden, saying he would provide details "in the days and weeks to come."

Car sales, spending up, but experts not convinced of trend (Washington Post) [ I’d say time for ‘mouth to mouth resuscitation’ and a closer look isn’t even necessary. Some experts? Just ask any guy on main street. Treading water? I’d say time for post-mortem on the drowning victim.] But a closer look at those car sales raises questions about whether the auto market - and consumer spending as a whole - are indeed on an upward arc or whether they are just treading water.

Obama to loosen rules on technology exports (Washington Post) [ Oooooh! Sounds like a continuation of the ‘clinton plan’ regarding missile among other technologies to China which worked so well for america in maintaining its prominently global position vis-à-vis communist china et als. Come on! wobama’s so done! Let the next president determine the probity of such a course! ] White House is overhauling the decades-old rules for the export of sensitive military and other technology, jettisoning what industry groups criticize as an antiquated "Cold War" set of regulations.

In the Middle East, it's still 1947 (Washington Post) [ Indeed it should be! Among the few times the cia was correct, and they’ve been trying to put square pegs in round holes ever since, to america’s substantial detriment. I wonder what what those american sailors of the US Liberty killed by the israelis would say? USS Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney, decorated war hero and survivor of Israel’s premeditated attack on the USS Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened by a foreign national claiming to work for the government of israel. As for the purported disdain shown for war mongerer netanayahu, if only wobama’s actions matched his words, the same would represent a major plus for him and the nation of america, so sorely in need of pluses whether the same be budgetary or economic or geopolitical. In fact, for America to abrogate 1948 would guarantee America’s survival, prosperity, and global hegemony in the most positive sense. ]

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

Obama speech on Iraq has risks (Washington Post) [ Yeah, very true indeed! The main one being that he’s supplanting that illegal, unnecessary, nation-bankrupting war with yet another in Afghanistan which will not be lost on those who supported his candidacy based on promised end to unnecessary war policies which have diverted time, attention, ill-afforded resources including personnel and continue to do so even as defacto bankrupt america crumbles. ]

National / World

Fluoride Is Toxic Ryan Banister | There is an array of historical incidents where fluoride caused overwhelming health problems.

Spy Satellites Used to Control American Citizens Kurt Nimmo and Alex Jones | The surveillance grid is not about saving us from al-Qaeda, but is designed to be used to track and ultimately control the movement and liberty of the American people.

Alex Jones: In Every Case in History, Slaves are Disarmed RTAmerica | The United States constitution says that every citizen has the right to own and carry arms.

JFK Truth, Drugwar: The People Strike Back Corbett Report | The corporate media shows signs they may report objectively on some of the news.

Jim O’Neill Suggests It May Be Time For The US To Give Up On Our Own Middle Class, And Focus On China’s Zero Hedge | China will be ecstatic that the US will now be funding the development of its own middle class. As for ours… Oh well.

The Elites Have Lost the Right to Rule Zero Hedge | When you get too many people of a particular mindset (in this case highly quantitative and academic) to aggregate in a field that is very much a people business and one where “street smart” common sense is of extreme importance you are asking for serious trouble.

Ron Paul: Where Is the Gold? [ As I’ve previously written, I believe that beyond the gold plate, Fort Knox has been looted. ] New American | Congressman Ron Paul revealed that next year at the start of the newly inaugurated 112th United States Congress, he would introduce a new bill to audit the U.S. gold reserves.

Ron Paul: ‘There Might Not Be Any Gold In Fort Knox’ Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it’s “a possibility” that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.

Obama’s Department of Justice Puts Out Master Patriot Hit-list The word constitutionalist is now shorthand for the sovereign citizen movement, in other words people who support the Constitution and the Bill of Rights are violent cop killers.

Government Think Tank Calls For Infiltrating Conspiracy Websites Furious that state involvement in major terror attacks is being exposed to a wider audience than ever before via the Internet, a UK think tank closely affiliated with the Downing Street has called for authorities to infiltrate conspiracy websites in an effort to “increase trust in the government”.

Report: Israel planning to attack Hezbollah arms depots in Syria Israel is planning to attack Hezbollah arms depots and weapons manufacturing plants in Syria, the Kuwaiti newspaper Al Rai reported on Saturday. The report is based on Western sources who asserted that Israel has increased its military force level along the northern border in the Golan Heights and Mount Dov areas.

USS Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney, decorated war hero and survivor of Israel’s premeditated attack on the USS Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened by a foreign national claiming to work for the government of Israel.

EU Popularity Plunges Right Across the Bloc People’s confidence in the the European Union has dropped to record lows in most countries amid a placid response to the rising unemployment and the troubles of the eurozone, a Eurobarometer published on Thursday shows.

China’s Central Bank Chief Rumored To Have Defected Rumors have circulated in China that People’s Bank of China Gov. Zhou Xiaochuan has left the country. The rumors appear to have started following reports on Aug. 28 which cited Ming Pao, a Hong Kong-based news agency, saying that because of an approximately $430 billion loss on U.S. Treasury bonds, the Chinese government may punish some individuals within the PBOC, including Zhou.

Bernanke, other leaders talk economic policy (Washington Post) [Yeah, they can talk the talk, but we all know based upon reality, ie., that no-recession thing aka financial debacle / disaster, etc., we’re still feelin’ in a very big way, they just can’t can’t walk the walk!]

Google wants in on the social networking game (Washington Post) [ I’ll bet they do … and as a cia/nsa front, if you’re a sound thinker and arrange a meet with a newfound friend thereon, be prepared for almost anything; ie., guns with silencers, garroted from behind, knife attacks, sudden acceleration of cars toward you when crossing crosswalks, etc. ] This Tweet -- "Google to launch Facebook competitor very soon" -- unleashed a sense that the online world as we know it was about to fundamentally change.

Stocks up [america down] (Washington Post) Previously reported economic growth, upon which hundreds of rally ‘points’ were predicated, revised down by 50% of the actual 1.6%. This is typical but no small laughing matter which bespeaks the wayward ways of wall street that got us to this debacle which also includes defacto bankruptcy of the nation. So, GDP down, consumer confidence down, and stocks rally like no tomorrow (which is the fraudulent wall street time horizon … they’ll just commission on the way down). Am I missing something here, particularly when a more sobering view from a rational player, INTEL, is far more credible? One former fed chair likened no-recession-helicopter ben bernanke’s factually deficient, empty words to ‘a doctor telling a patient he’s not sure of what the problem is (that economic uncertainty thing he referenced), but if his leg gets worse he can always amputate.’ Previously, as pertains to the jackson hole no-recession-helicopter-ben b* s* non-event / talk. Fed action signals new activism (WP) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

Fed vows to act if economy stalls (Washington Post) [ Wow! Really! Sounds like a plan! A ‘no-recession-helicopter-ben’ plan! One former fed chair / bk. pres. likened no-recession-helicopter ben bernanke’s factually deficient, empty words to ‘a doctor telling a patient he’s not sure of what the problem is (that economic uncertainty thing no-recession-helicopter-ben referenced), but if his leg gets worse he can always amputate’

New rules for your money (Washington Post) [What they really mean refers to the lack thereof; that new defacto bankrupt american reality and all that flows therefrom in the most negative sense. ] Kiplinger's Personal Finance In this era of high unemployment, flat home prices and do-it-yourself retirement savings, some traditional rules of saving and investing are due for an overhaul.

Why is the recovery faltering? (Washington Post) [ Oooooh! ‘Dat ben! He gives such great, unctuously soothing talks. Along with wobama, we must consider this time, a time for defacto bankrupt American decline with the cocomitant rise of b* s* . The watchwords are no longer (as in Hollywood and elsewhere) ‘pastics’, ‘computer chips’,   but rather b* s* and more b* s! I truly must say, almost as a ‘revenge to Samuelson economics kind of thing’, that Mr. Samuelson here talks symptoms rather than (structural) causes and totally misses the (big) macroeconomic picture and should be chastised for faulting prudence.]

Make Sure the Bunker is Well Stocked Mike Whitney Information Clearing House August 29, 2010 Robert Herz was forced to resign from his job as as chairman of the Financial Accounting Standards Board (FASB) because he insisted that the banks assign a fair value to their assets. That’s not what you’ll read in the papers, but it’s true just the same. Herz [...]

“Monetary Shock and Awe”: The Fed prepared to launch most Radical Intervention in History There’s no talk of green shoots any more, and even the deficit hawks have gone into hibernation. It feels like the calm before the storm, which is why all eyes were on Jackson Hole this morning where Fed chairman Ben Bernanke delivered his verdict on the state of the economy on Friday.

Debt, Depression, Default. America is in Deep Trouble Items we customarily purchase, i.e., shoes, clothes, cars would become too expensive. Consequently, the American financial woes would result in a global financial decline. The enviable American standard of living will decrease and the next generation will be saddled with insurmountable debt, not of their making.

The US Government Matches Every Dollar In Tax Revenue With A Dollar In New Debt In our attempts to simplify the comprehension of the ongoing serfdomization of the US population, we would like to present one of the more persuasive charts which the administration would likely be loath to demonstrate.

Helicopter Ben Bernanke Says Everything Is Going To Be Okay Don’t worry everybody. Federal Reserve Chairman “No Recession Helicopter Ben” Bernanke says that the U.S. economy is going to be just fine, and that if it does slip up somehow the Federal Reserve is ready to rush in to the rescue. That was essentially Bernanke’s message to an annual gathering of central bankers in Jackson Hole, Wyoming on Friday.

China is Unloading its Treasury Bonds Oil Price | It looks like the smart money these days is found in China.

Collapse Survival Will Be Tribal: Begin Recruiting Now Human World Order | The controllers are orchestrating the collapse of the American economy and society right now, albeit in slow motion, but it is already crumbling.

The US Government Matches Every Dollar In Tax Revenue With A Dollar In New Debt In our attempts to simplify the comprehension of the ongoing serfdomization of the US population, we would like to present one of the more persuasive charts which the administration would likely be loath to demonstrate.

Mullen: National Debt is a Security Threat [Daaaaah!]The national debt is the single biggest threat to national security, according to Adm. Mike Mullen, chairman of the Joint Chiefs of Staff. Tax payers will be paying around $600 billion in interest on the national debt by 2012, the chairman told students and local leaders in Detroit.

U.S. birth rate falls again, a possible effect of economic downturn The number of babies born in the United States has dropped for the second year in a row, according to new federal statistics released Friday that provide more evidence that the nation’s economic troubles are affecting the birth rate.

Is Ben Lost? [Yes!] Butter ‘The much awaited speech by Ben Bernanke, on Friday, was a bit of a non-event. It was interesting, however, to see the 30 Year bounce, from 3.55% to 3.7%, the moment that Ben explained his cunning plan to push long-term interest rates down. But at least we learned that $140 billion of the $1.25 billion the Fed advanced to buy agency debt and MBS, got repaid. One question Ben: “How much did you pay for the $140 billion that got repaid? Did you make a profit, or are you going to wait until Ron Paul’s audit before you let us know how that went?.” I know I’ve got a dirty mind, but I can’t help thinking that if Ben had made a profit on that transaction, he would have been crowing about it. I loved this bit, particularly the “Thus”:

Thus, our purchases of Treasury, agency debt, and agency MBS likely both reduced the yields on those securities and also pushed investors into holding other assets with similar characteristics, such as credit risk and duration. For example, some investors who sold MBS to the Fed may have replaced them in their portfolios with longer-term, high-quality corporate bonds, depressing the yields on those assets as well.

Hmm…

Even Alan Greenspan and Larry Summers conceded that there is absolutely nothing that the Fed can do to change long-term Treasury yields. But, now Ben the Boy is saying that he can do that, he must be Superman!

Good to see that Superman is also taking the credit for pushing down yields on agency debt and toxic MBS. Obviously he is a genius, the Maestro is re-incarnated, Err…but here is one little thing; he’s the only guy buying that garbage.

Oh, and whoopee, Ben thinks that the “investors” (translate deadbeat zombie banks), who sold him their (toxic) MBS, have all rushed out to buy corporate bonds. I’m not quite sure what planet he’s on. I thought they either kept the money on deposit with the Fed, or bought Treasuries to repair their capital adequacy. Note the “may”…as if he didn’t know!

But this was the kicker, admittedly hidden away between jargon-heaped on jargon, but there all the same:

(Al those good things managed)... provide further support for the economic recovery while maintaining price stability, the Fed has also taken extraordinary measures to ease monetary and financial conditions.

I especially love the part about “further” support. As if the banks are going out and lending money to Main Street, as opposed to simply using their free, Fed supplied, get-out-of-jail card to create an illusion of solvency whilst they “extend and pretend”. Similar to what happened in Japan after their bubble burst. The real gem, however, was the idea of “maintaining price stability”. What that means is stopping assets prices (house prices, commercial real estate, and to some extent stocks) from going down to where they have to go, before market clearing can start. Funny how when asset prices were bubbling through the roof, that was not considered “inflationary” by the Fed and was not something to be concerned about. But, when asset prices fall through the floor, that is considered deflationary (or disinflationary), and is very bad. Ben looks to me suspiciously like a greenhorn lost in the woods who used up all his ammo shooting at shadows. And yet, there is the Big Bad Wolf of private sector deleveraging faster than he can run the printing presses, (and more importantly, get that money out into the real world) lurking round the corner.’

Headed for a Double Dip_

Sotomayor Says Court May Rule to Limit First Amendment in Response to Wikileaks Kurt Nimmo | Sotomayor’s comment is a warning that the Supreme Court may soon use the Wikileaks case restrict the First Amendment.

The Nazification of the United States Paul Craig Roberts | September 11 destroyed American liberty, the rule of law and the US Constitution.

Fidel Castro: Osama bin Laden Worked for CIA Guardian | Fidel Castro reveals what many of us have known for years — Osama bin Laden was a prized CIA asset.

Conclusive: Global Distribution of Rockefeller-Funded Anti-Fertility Vaccine Coordinated by WHO Jurriaan Maessen | It is a dream long cherished by the global elite: an anti-fertilization program with the aim of reducing the world’s population

We Need A Revolution, Not A Movement Chuck Baldwin | The Tea Party movement, while still a force with which to be contended, has already been diluted and compromised.

Corporate Media Dismisses Castro’s Bin Laden Claim As Far-Fetched Conspiracy Theory The corporate media wasted little time in seizing upon controversial Cuban leader Fidel Castro’s comments about Osama bin Laden being a U.S. spy to deride the claim as a far-fetched conspiracy theory, and yet the fact that Bin Laden was once a CIA protégé and has been used time and again to the benefit of the U.S. government’s geopolitical agenda is a documented fact.

Drudgereport: `7 US troops killed in latest Afghanistan fighting...`

`Castro: Osama bin Laden is US spy...`
`PAPER: CIA secretly paying Afghan officials...`

7 U.S. troops die in Afghanistan violence (Washington Post) [ I was discussing my opposition to the contrived conflict in Iraq with a former air force man with high (top?) security clearance from economic, geopolitical, and humanitarian perspectives; and further, mentioned I had sought and gotten an appointment to West Point (I was exempt) so I could go (Vietnam) as an officer rather than a grunt who were being used as mere cannon fodder as now in Iraq (I also related the fact that I am thankful, for a multitude of reasons, I changed my mind in light of then new realities). He replied, quite seriously, that’s what they’re there for… No they are not! But yes, that is their unequivocal, unforgiveable attitude beyond the b s* (look at cheney-5 deferments, bush-powderpuff duty courtesy of poppy, clinton-draft dodger, wobama-never served, etc.. Just a destructive waste!) The latest deaths bring to 42 the number of American forces who have died this month in Afghanistan after July's high of 66.

U.S. officers weary and humbled (Washington Post) [ Indeed they should be; and, if they are able to make sense of the last 2 decades particularly, they are certifiably true american crazy, a condition in the u.s. and among it’s war mongering allies that is found in self-destructive abundance. No joke! And then there are the crimes / frauds. My position is also that such frauds as the disappearance of the 360 tons of $100 bills, etc., and similar such frauds should come right off the top, a direct reduction in their budget allocation particularly in light of the defacto bankruptcy of the nation! ] How Iraq vets make sense of the last seven years will affect how america wields its military power [very poorly indeed!] .

Is the U.S. exporting terrorism? (Washington Post) [The newspaper that never sleeps…The Washington Post

WikiLeaks Release: CIA Red Cell Special Memorandum – What If Foreigners See the United States as an ‘Exporter of Terrorism’ [Which of course is the reality, along with israel; you do recall those israeli operatives who were caught cheering the 911 hit, the so-called pearl harbor event so cherished by the neo-cons.] The document states, “This report examines the implications of what it would mean for the US to be seen increasingly as an incubator and ‘exporter of terrorism.’” However, it doesn’t go on to mention the U.S. state sponsored terrorist activities of the Proactive, Preemptive Operations Group (P2OG).

We’re Already In Recession [actually a depression] Harding ‘‘First let’s look at the trend. After an unusual four straight quarters of negative growth in the severe 2008-2009 recession, the recession ended in the September quarter of last year when GDP managed fragile growth of 1.6% for the quarter, and then improved to 5.0% growth in the December quarter.It was understood that much of that growth was temporary, fueled by government spending, and spending by consumers provided with government bonuses and rebates, as well as temporary rebuilding of inventories by businesses. But it was expected that with that jumpstart the recovery could continue on its own legs.So, it was a bit of a surprise when GDP growth slowed to 3.7% in the March quarter of this year while those programs were still having an influence. But economists still expected the economy would grow at a 3% pace in the June quarter even with those programs winding down, and for the rest of the year.So, it was a real disappointment when second quarter growth was reported a month ago as having been only 2.4%. Plus, when additional data became available for May and June, the last two months of the second quarter, and those reports were increasingly negative, economists predicted that Q2 GDP growth would be revised down to only 1.3%.On Friday, the revision was released, and it showed growth last quarter slowed significantly, but only to 1.6%, not as bad as the latest forecast.The media and the stock market, starving for good news–and with the market short-term oversold after being down 10 of the previous 13 days–took it as a positive. But let’s get real.The issue is not whether economists got their forecast right or wrong, but the degree to which economic growth is slowing. And a trend of 5% growth in the December quarter, followed by a 1.3% decline to 3.7% growth in the March quarter, followed by a 2.1% decline to 1.6% growth in the March quarter is a chilling rate of decline.Now factor in that economic reports so far for July and August, the first two months of the third quarter, have been significantly worse than those of May and June, and significantly worse than economists’ forecasts, with the relapse pretty much across the board; in the housing industry, manufacturing, retail sales, consumer and business confidence, the decline in U.S. exports, and so on.It’s not a stretch then to think that economic growth is declining by another increment of more than 1.6% this quarter, which would have it in negative territory, already in recession.In his speech Friday morning at the annual economic symposium in Jackson Hole, Wyoming, Fed Chairman Bernanke, while saying he still expects the economy to grow in the second half “albeit at a relatively modest pace” did not put forth a very convincing argument, using such phrases as “painfully slow recovery in the labor market”. . . “economic projections are inherently uncertain”. . . . “the economy is vulnerable to unexpected developments” . . . “the recovery is less vigorous than we expected.”Nor did he seem confident that the Fed’s depleted arsenal of tools to re-stimulate the economy would be effective if needed. Two of the four possible actions he mentioned seemed to suggest consumers and markets could be fooled into confidence with mere talk.His brief list of four possible actions were, “1) conducting additional purchases of longer-term securities [bonds and mortgage-related securities]; 2) modifying the Fed’s FOMC meeting communications to investors; 3) reducing the interest the Fed pays banks on their excess reserves. And I will also comment of a fourth strategy, proposed by several economists- namely, that the Fed increase its inflation goals.”Providing details on two of the four possible actions, he said, “The Fed’s current statement after its FOMC meetings reflects the FOMC’s anticipation that exceptionally low interest rates will be warranted ‘for an extended period’ . . . A step the Committee could consider if conditions called for it, would be to modify the language to communicate to investors that it anticipates keeping the target for the federal funds rate low for a longer period of time.”As for the fourth possible action in his list of four, he said the Fed could alter the phrases it uses to communicate its goals for inflation by “increasing its medium-term inflation goals above levels consistent with price stability.”That’s scary stuff if those are two of the four actions the Fed sees as its best options to re-stimulate the economy.Also of concern, in its report revising Q2 GDP growth down to just 1.6%, the Commerce Department reported that corporate earnings declined significantly in the second quarter, after-tax earnings rising just 0.1%, compared to the gain of 11.4% in the first quarter. Meanwhile, Wall Street continues to ratchet up its earnings estimates.On the positive side, consumer spending, which accounts for 70% of the economy, rose 2% in the second quarter, compared to 1.9% in the first quarter. But the bad news is that the reports since, on consumer confidence and retail sales in July and August, have been big disappointments.Putting it all together, don’t be surprised if a couple of months down the road we learn the economy was already in recession in the current quarter.’

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable … How did this escape mainstream … this is very big news though not new news but would be newly reported news which smart people knew was news before this news was even reported as news on the Drudge news web site … they deserved this redundancy for which there is no excuse in not covering ...`

Cramer Gets It Wrong With “Mass Panic” GDP Forecast [To the contrary, among the few times cramer got it right … I mean, come on … you don’t think that initial number and now this better than all forecasts is correct … one couldn’t be that dumb. ] Paul Joseph Watson | CNBC host predicts gross domestic product to shrink to an alarming 0.5 per cent.

Previously reported economic growth, upon which hundreds of rally ‘points’ were predicated, revised down by 50% of the actual 1.6%. This is typical but no small laughing matter which bespeaks the wayward ways of wall street that got us to this debacle which also includes defacto bankruptcy of the nation. So, GDP down, consumer confidence down, and stocks rally like no tomorrow (which is the fraudulent wall street time horizon … they’ll just commission the way down). Am I missing something here, particularly when a more sobering view from a rational player, INTEL, is far more credible. One former fed chair likened no-recession-helicopter ben bernanke’s factually deficient, empty words to ‘a doctor telling a patient he’s not sure of what the problem is (that economic uncertainty thing he referenced), but if his leg gets worse he can always amputate.’ Previously, as pertains to the jackson hole no-recession-helicopter-ben b* s* non-event / talk. Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

China is Unloading its Treasury Bonds Oil Price | It looks like the smart money these days is found in China.

Collapse Survival Will Be Tribal: Begin Recruiting Now Human World Order | The controllers are orchestrating the collapse of the American economy and society right now, albeit in slow motion, but it is already crumbling.

10 Leading Retailers Close Stores Mish’s Global Economic Trend Analysis | Signs of weak consumer discretionary spending are popping up in multiple places.

U.S. Postal Service Starts Quoting SDR to Dollar Conversion Rates, and IMF Endorses Replacing Dollars with SDRs I have repeatedly pointed out that it is possible that the IMF’s special drawing rights (SDRs) will become the world’s reserve currency. And as I noted in April 2009, there is some possibility that the “Bancor” will ultimately fill that role.

Why Are Home Sales Plummeting? On the surface, it is because the government’s tax-credit for first-time home buyers lapsed in April. It takes a couple of months lag-time between buyer purchase decisions and the actual close of escrow, and so the expiration of the tax-credit is just now hammering the market.

Bearish Sentiment Officially Reaching Fever Pitch Friday promises to be a huge day (at least in the early going) with both the Fed and the Q2 GDP revisions potentially giving investors more reasons to panic. The questions: is panic hitting peak levels?

`Drudgereport: Analyst: CITIGROUP 'Cooking the Books'...`
`Banks back switch to renminbi for trade; Incentives to move from dollar and euro... THE SPEECH: Bernanke under pressure to prop it up...'RECOVERY SUMMER' ENDS SICK`
`GDP REVISION: 1.6%`
`Says recovery softer, Fed prepared to buy more...`
`Weaker GDP raises stakes...`
`WIRE: What Biden didn't mention on stimulus...`
`ZUCKERMAN: The Most Fiscally Irresponsible Government in History … along with bushes’...`
`Joint Chiefs Chairman: National Debt is a Security Threat...`
`Recession pushes US birth rate to new low...`
`RECOVERY BUMMER: Youth employment lowest since 1948...`
`Thousands line up before dawn for mortgage help in Palm Beach County...`

Report on Fannie, Freddie gives new theory for collapse (Washington Post) Since ‘it’s always something’, time to contact Rosanne Rosanna Danna to straighten this out! Tiny tim geithner, God bless us everyone, ‘has also pointed to the weight of souring guaranteed loans as a source for the companies' troubles. …Riiiiight! Guarantee’s are the thing! … Rosanne Rosanna Danna, formerly of SNL fame needs to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds and what their frauds are on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Flow of imports drags down economic growth (Washington Post) [Ah, eureka! So that’s what did it! Nothing to do with transferring productive capability overseas / elsewhere as warned against by Ross Perot and celebrated by those long-term thinking frauds on wall street. Well, we still have the worthless paper to move around and commission as warned against by Morita of Sony fame.]

Chossudovsky: China could already be world’s largest economy

Stocks slip as caution about the economy returns Associated Press (Washington Post) [Caution? Is that what they’re calling reality these days? ] Stocks fell Thursday after early gains from a better report on jobless claims faded in late trading, sending the Dow Jones industrial average to its first close below 10,000 since early July.

Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of the U.S. Courts recently reported that bankruptcy filings between April and June hit a four-year high. Consumer bankruptcies rose 21 percent while business bankruptcies increased eight percent. The list of corporate bankruptcies over the last couple of years includes big names like Lehman Brothers, Washington Mutual, and GM. And financial institutions like Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo** (NYSE: WFC) received billions of dollars through the federal government's Troubled Asset Relief Program. Should investors add the U.S. government to that list of big name bankruptcies? I recently asked Boston University economics professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking.
**Mac Greer: Larry, I noticed the headline or the title of a recent article that you wrote, US is Bankrupt and We Don't Even Know It. So with that in mind, what is your take on the economy these days?
Larry Kotlikoff: Well there is a lot of uncertainty, as rightfully there should be. We have seen the financial sector implode basically because of the systematic production and sale of trillions of dollars of fraudulent securities under the cover of proprietary information, so nobody really had the ability to look inside big companies like Bear Sterns or Merrill Lynch to see exactly what they owned or owed. That problem remains today, even with the passage of Dodd-Frank. There is no requirement that the financial industry come clean with respect to what it is doing with our money, so every major financial player says you can't see what we are doing because we have the Midas touch. We are going to beat the market, and if we show you, everybody will see our secret formula for making you a mint. As a result, they have a great cover to produce fraudulent securities. And then when there is a sniff of fraud, one can easily presume that everything they are doing is fraudulent, which may not at all be the case. And then there is a run against those institutions as we saw with Bear Sterns and Lehman Brothers and all the other ones because of the perception that so much of their holdings were fraudulent and that their reporting was fraudulent. And of course the rating companies and the regulators and the boards of directors and the members of Congress were all, in effect, in bed with each other to achieve this result. I don't see anything that has fundamentally changed, so that is one major area of fragility. We could have another meltdown in the financial market tomorrow because as Dick Fuld [Lehman former CEO] said, he claims that their balance sheet was just fine and that this was all just a panic, it was not connected with any facts. Well, he said that every institution on Wall Street --- Goldman Sachs (NYSE: GS), JP Morgan (NYSE: JPM) -- could have experienced the same thing. His concern about this happening to other companies is well taken. So we have a financial system that is set up to fail again, and we have a fiscal situation which is a complete and dire mess. It could lead to a financial panic that could lead to a much bigger meltdown of the financial system than we have seen.
Greer: Is the U.S. bankrupt?
Kotlikoff: Bankruptcy means not being able to pay your future bills. If you can't pay your current bills, your creditors are already after you so you already are bankrupt. If you can't pay your future bills, that really is the operational definition of going bankrupt or being bankrupt. The U.S. government can't pay its future bills. These bills, in total, in present value, exceed the revenues by $202 trillion. This is based on taking the data projected by CBO (Congressional Budget Office) back on June 26 of this year, when they put out their alternative fiscal scenario, which is their best long-term projection of government spending, including servicing the official debt, and government revenues. And if you present value the differential between spending and revenues, including extrapolating beyond their projection which is important to do, you get a fiscal gap of $202 trillion. To come up with $202 trillion in present value, you'd have to immediately and permanently double all taxes we have. You'd have to do it immediately. We're talking here about running a 5% GDP surplus this year instead of running a 9% deficit. So I don't see that happening. We have to cut spending or we have to print money. Either way you're cutting spending so either way you're, in effect, reining in spending promises. And that suits my definition of bankruptcy. And I think there are ways of cutting spending and getting our fiscal house in order but we need to engage in radical surgery here and not putting on the band-aid that this administration is so fond of.
Greer: One of our Motley Fool writers recently interviewed Euro Pacific Capital President Peter Schiff. In 2006, he was predicting the economic downturn, and he now says that we are, "In the early stages of a depression now. It is going to be a horrific experience for average Americans who are going to watch their standard of living plunge." Do you agree?
Kotlikoff: Well, this has been a depression so far for millions of Americans. It didn't have to happen. It is really man-made. We have the same physical capital and human capital sitting here in place. We don't have to stay in a depressed state. The problem is that things are not coordinated. We don't have buyers optimistic about getting paid salaries and we don't have sellers optimistic about being able to find buyers, so everybody is kind of sitting on their hands. We can have some, a bunch of KISS's, which are "keep it simple, stupid" solutions to our problems, and lots of people throughout the country realize this, that we need to fix things fundamentally. We can't do it with 2,000 page bills that make bureaucratic structures that are basically clogging up our economic arteries, even more bureaucratic…

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse The Economic Collapse | Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon.

America’s Debt: The BIG Wave Damien Hoffman | This, my friends, is only the tip of the iceberg of what will unfold should we choose to kick the proverbial can farther down the road.

S&P Says US Should Act to Protect AAA-Rating: Report The United States government needs to take steps to preserve its top AAA-rating, a Standard & Poor’s Ratings (S&P) official told Dow Jones newswire in an interview published on Thursday.

It pays to riot in Europe Dublin has played by the book. It has taken pre-emptive steps to please the markets and the EU. It has done an IMF job without the IMF. Indeed, is has gone further than the IMF would have dared to go.

The Economy When Debt Is Everywhere As a result of austerity, imposed on Greece by its Illuminist led government, unemployment has hit 70% in some places. The country’s budget deficit has been reduced by 40%, truly draconian. Spending by government has been cut 10%, which is more than double what the EU and IMF has required.

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon, but a growing minority of Americans are starting to realize that things are fundamentally changing and that they better start preparing for what is ahead.

China Buys Euros as Fear of World Depression Grows Webster G. Tarpley | The one certainty is that there is no recovery, and that the second wave of a world economic depression dominates the world.

Economy Caught in Depression, Not Recession: Rosenberg Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. ‘Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”

9-2-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression Burrows ‘Presciently bearish David Rosenberg, the chief economist and strategist at Gluskin Sheff who called the global meltdown back when he was still at Merrill Lynch, isn't budging from his view that the U.S. is in a depression -- and a prolonged, Japanese-style one at that. Rosenberg reminded clients on Wednesday that here we are 33 months after the Great Recession began, and yet home prices, gross domestic product, credit outstanding, organic personal income and employment are all lower now than they were prior to the onset of the downturn. "We can understand that this is not exactly cocktail conversation, but this is a Japanese-style (even worse perhaps) modern-day depression," Rosenberg writes. "It's not the 1930s because soup lines have been replaced with unemployment insurance lines -- over 10 million checks and for up to 99 weeks. The poor souls who endured the bitter 1930s had no such relief." And as for the U.S.'s vaunted labor flexibility and superior demographics saving it from a Japanese sort of lost decade or two, well, Rosenberg is having none of it. "Government policy and the record number of people upside-down on their mortgage have seriously impaired the flexibility of the labor market," Rosenberg writes. And the U.S. birth rate has declined for two consecutive years and is at its lowest level in a century, he notes. Of course, it's no surprise to buy-and-hold investors that U.S. equities have already notched a lost decade and then some. Take a look at this 10-year chart of the S&P 500 ($INX): See full article from DailyFinance: http://srph.it/aZTYr7’

Forced / Distressed / Underwater pending / foreclosure sales the impetus for short-covering / suckers’ rally on light and hence, easily manipulated, pre-holiday computerized trade volume. The government, desperate and defacto bankrupt, is back to their fake / false data reporting; you know, the kind that spurs the fraudulent wall street rallies and gets revised by 35% + down later as with GDP just recently, but the wall street frauds will get their commissions again on the way down. YAHOO [BRIEFING.COM]:    ‘…Early participants had little reason to alter their mood since the initial jobless claims count for the week ended August 28 came in at 472,000, which is in on par with the 475,000 initial claims that had been widely expected. The latest tally was also little changed from the prior week total of 478,000. Continuing claims saw a more substantial slip as they fell to 4.46 million from 4.48 million. Final nonfarm productivity readings for the second quarter also offered little surprise. Productivity in the quarter fell 1.8%, which is in stride with the 1.7% decline that had been widely forecasted. Unit labor costs for the quarter increased 1.1%, as expected. Pending home sales for July provided participants with a positive surprise. They posted a 5.2% monthly increase, which contrasts with the call for no change from economists polled by Briefing.com. That data overshadowed news that factory orders for July increased 0.1% instead of 0.3% as had been widely expected…’    Stocks rise on economic hopes ahead of payrolls (Reuters) Riiiiight! Sounds like a plan!

[$$] U.S. Equity ETFs Implode** ‘U.S. equity ETFs hemorrhaged assets during the month of August as investors sought out emerging-market equity and debt along with fixed-income picks. According to National Stock Exchange data (nsx.com) released today, U.S. equity ETFs shed nearly $11 billion in assets last month. Here's something remarkable: One U.S. equity ETF accounted for more than half of these outflows. The SPDR S&P 500 ETF, arguably the ETF industry's most iconic fund, saw net outflows totaling more than $6.6 billion last month. Who were the biggest losers besides SPY? You'll recognize some of these names: the PowerShares QQQ ETF, the iShares Russell 2000 ETF and the SPDR DJIA ETF saw net asset outflows of $2 billion, $1.7 billion and $616 million, respectively. At the other end of the spectrum, the Vanguard MSCI Emerging Markets ETF and the iShares MSCI-Emerging Markets ETF attracted $1.9 billion and $1.8 billion, respectively, while the...’

Those Who Ignore History... [The aforementioned from The Pragmatic Capitalist is a cogent summary of extant problems which undoubtedly will end quite badly for the unwary (today’s folly represents a great opportunity to sell / take profits), infra, and should be read in tandem with Graham Summer’s exposé which follows. Yet, the situation as realistically bad as they’ve so presented same, is far more dire than even they posit for the u.s. particularly owing to structural problems now inherent to america’s economy / business model which bodes ill as never before in america’s relatively short history. U.S. Stocks Surge On Overseas Growth Riiiiight! Some of the same mainstream, (msnbc) ‘money honey’ drivel one would expect from Forbes faux ‘capitalist tool’ cheerleading squad, totally devoid of forward-looking analytical prowess and leaves you burned every time. Come on! Government Motors and Ford sales were down significantly, construction spending down, private sector jobs lost, and even BofA’s Merrill Lynch has sugar-coated the reality cutting the wall street frauds a break by calling this a ‘growth rececession’. The typical fraudulent wall street churn-and-earn computerized trade scam with built in commission volume for the way down. Sorry to say it, but the reality is: This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]
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 Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent). ] The Pragmatic Capitalist ‘My position over the last 2 years has been as follows: this is a Main Street debt crisis. I have been highly critical of the government’s incessant interventionist policies over the last few years largely because they ignore the actual problems at hand. First it was Mr. Bernanke saving the banks because he believed the credit crisis started with the banking sector. The great monetarist gaffe ensued. Tim Geithner piled on with the PPIP. FASB jumped on board the bank rescue plan by altering the accounting rules. And then the icing on the cake was the Recovery Act, which, in my opinion, just shoveled money into the hole that had become the output gap, without actually trying to target the real cause of the crisis – those burdened by the debt. In essence, the various bailouts primarily targeted everyone except the people who really needed it.

A year ago I posted a story citing the many reasons why we were sinking into the deflationary Japanese trap. The primary flaw with the US response to the crisis was that we never actually confronted the problem at hand. I have often cited Japanese economists such as Richard Koo who appear to have a good grasp on the problems in Japan and now in the USA. In this case, I cited Keiichiro Kobayashi who is now looking most prescient:

We continue to ignore our past and the warnings from those who have dealt with similar financial crises. Keiichiro Kobayashi, Senior Fellow at the Research Institute of Economy, Trade and Industry is the latest economist with an in-depth understanding of Japan, who says the U.S. and U.K. are making all the same mistakes:

“Bad debt is the root of the crisis. Fiscal stimulus may help economies for a couple of years but once the “painkilling” effect wears off, US and European economies will plunge back into crisis. The crisis won’t be over until the nonperforming assets are off the balance sheets of US and European banks.”

Read that last paragraph again. These are scarily accurate comments. While the USA claims to have many economists who understand the Japan disease and/or the Great Depression the policy actions we’ve undertaken do not appear to be in line with any understanding of this history.

What we’ve done over the last few years is repeat the mistakes of Japan’s past. Instead of confronting the debt problems head on we have simply tried to fill the output gap with short-term spending plans and impotent monetary policies. As Kobayashi presciently said, the “bad debt is the root of the crisis”. I think most mainstream economists, the administration and the Fed have continually misdiagnosed our problems. They have attempted to save the banking sector and simply fill in holes with spending plans that prop up markets, entice more borrowing and largely ignore the actual cause of the current crisis. Some economists have argued that the Recovery Act didn’t fail, but that it was too small. This is like saying that the cancer patient didn’t receive enough percocet. More percocet isn’t the cure. Targeting the cancer and trying to cut it out is the cure. Yet, we continue to ignore the lessons of Japan despite having so many “experts” on the Japanese disease. Therefore, we appear destined to repeat their horrid economic history assuming our current path isn’t miraculously altered.’

WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the lunatic frauds on wall street are criminally insane and the only way to stop / deter their debilitating churn and earn among other computerized frauds is prosecution, jail, fines, and disgorgement! Once again they’re back to their huge fraudulent gains as seen this reporting period despite growing problem bank list, worthless paper from the prior fraud in the (hundreds of) trillions now marked to anything, and look at August results and worse to come; that money for their commissions / premiums must come from someplace, viz., the bubble which will deflate / crash. ] Graham Summers ‘Here’s a zinger of a news story:

Barclays Plc had no idea how big Lehman Brothers Holdings Inc.’s futures-and-options trading business was when it considered taking over the defunct bank’s derivatives trades at exchanges in 2008, a Barclays executive said.“Lehman’s books were in such a mess that I don’t think they knew where they were,” Elizabeth James, a director of Barclays’s futures business, testified today in U.S. Bankruptcy Court in Manhattan. James worked on Barclays’s purchase of Lehman’s brokerage during the 2008 financial crisis.-- Bloomberg

I’ve railed for months that the central issue surrounding the Financial Crisis (derivatives) was not only misunderstood but completely ignored by the mainstream financial media. Here we are, nearly two years after Lehman Brothers went bust, and they’re telling us that Lehman had “no idea” what its options and futures exposure was.

Let’s put this into perspective.

The notional value of the derivatives market at the time that Lehman went bust was somewhere between $600 trillion and $1 Quadrillion (1,000 trillions). It was a market of inter-linked paper contracts entangling virtually every financial institution (including some non-financials), country (Greece, Italy used derivatives to get into the European union), and county (Birmingham Alabama is one example) in the world. As a market it was at least 20 times larger than the world stock market and somewhere north of 10 times World GDP.**

In other words, this was the giant white elephant in the living room.

And here’s Lehman brothers, one of Wall Streets’ finest, most respected financial institutions which had been in business for over 150 years announcing that it had “no idea” “if it had sold $2 billion more options than it had bought, or whether it owned $4 billion more than it had sold.”

In today’s world of trillion dollar bailouts, $2-4 billion doesn’t sound like much, so let’s give some perspective here… in its golden days, Lehman Brother’s market cap was roughly $47 billion. So you’re talking about bets equal to an amount between five and 10% of its market cap. Not exactly chump change.

And Lehman had no idea where it was or how much it really owed.

Mind you, we’re only addressing Lehman’s options and futures derivatives, we’re completely ignoring its mortgage backed securities, collateralized debt obligations (CDOs), and other Level 3 assets. Options and futures are literally the “tip of the iceberg,” the most visible portion of the behemoth that was Lehman’s off balance sheet derivative issues. After all, these are regulated securities, unlike most derivatives.

Now, if the above statement doesn’t send shivers down your spine, have a look at the notional value of derivatives exposure at the top five financial institutions in the US (mind you, this chart is denominated in TRILLIONS). [chart]

If Lehman had “no idea” what it owned even when it came to options and futures (regulated derivatives), what are the odds that these other firms, whose derivative exposure is tens if not hundreds of times larger than that of Lehman’s, might similarly be “in the dark’ regarding their risk?

Moreover, who on earth might be on the opposite end of these deals? Other US counties like Birmingham Alabama (which JP Morgan transformed into 3rd world country status)? Other countries like Italy or Greece (who used Goldman’s financial engineering to get into the European Union)? My next-door neighbor’s house? Tim Geithner’s long-lost tax returns? WHO KNOWS?

The point is that the very same issues that nearly took the financial world under in 2008 still exist today. In fact, this time around the systemic risk is even more severe.

Consider that the Credit Default Swap (CDS) market which nearly took the financial system down in 2008 was roughly $50-60 trillion in size. In contrast, the interest rate based derivative market is in the ballpark of $500+ trillion.

Indeed, US commercial banks alone have $182 TRILLION in notional value of interest rate based derivatives outstanding right now. To put that ridiculous number in perspective it’s 13 times US GDP and roughly three times WORLD GDP…’

David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression Presciently bearish David Rosenberg, the chief economist and strategist at Gluskin Sheff who called the global meltdown back when he was still at Merrill Lynch, isn’t budging from his view that the U.S. is in a depression — and a prolonged, Japanese-style one at that.

The U.S. Path to Collapse The combination of more government spending and less taxes equals massive inflation, but this represents the state of mind in Washington today. Inflation is still the last thing on their minds because they don’t see it yet.

Can A Family Of Four Survive On A Middle Class Income In America Today? When I was growing up, $50,000 sounded like a gigantic mountain of money to me. And it was actually a very significant amount of money in those days. But in 2010 it just does not go that far. Today, the median household income in the United States for a year is approximately $50,000.

The Reckless Mess Created by The Fed Quantitative easing will put the American public at ease, at least temporarily. They do not realize it but the American and world economies are in a deliberate state of slow collapse. Yes, the Fed has created a terrible mess. They have been totally unprofessional and reckless.

Michael Pento Says Fed Will Buy Stocks And Real Estate In Its Next Attempt To Create Inflation Zero Hedge | Pento also goes into explaining why housing is facing a “deflationary depression,” and a further collapse in pricing, why inflation benefits only those closest to the money, i.e., the banks and the military complex.

The U.S. Path to Collapse National Inflation Association | The pain that was felt after the collapse of Lehman Brothers is nothing compared to the pain that will come when we begin to feel the effects of bailing out the rest of Wall Street.

US Retail Sales Top Estimates on Tax Holidays, Discounts Bloomberg A family walks toward the entrance to the Kohl's store in Round Rock, Texas. Photographer: Jack Plunkett/Bloomberg US retailers reported August sales that beat analysts' estimates as ...

Nation / World

Gun Confiscation in Response to Hurricane Earl? Kurt Nimmo | In New Orleans, police and National Guard confiscated weapons and violated the Second Amendment.

California Cops Taser Senior Citizen in His Own Home Kurt Nimmo | In America, now officially a police state, you will be tasered in your own home if you lip off to the police.

World Bank Threatens “Drastic Steps Necessary” if Nations Refuse Population Reduction Implementation Jurriaan Maessen | A World Bank report suggests introducing “sterilization vans” and “camps.”

British Attorney General moves toward re-opening investigation into mysterious death of Iraq weapons inspector Raw Story | The United Kingdom’s top law enforcement official has taken possession of secret files surrounding the murder of David Kelly, a prominent WMD researcher who was found dead in the months after the invasion of Iraq.

New Evidence Of Controlled Demolition On 9/11 In the video, at about the 0:59 mark, a high-pressure explosion occurs in one of the Twin Towers, below the impact zone, while the building is still standing.

Update: Mile-Long Oil Sheen Reported Spreading From Site Of Gulf Platform Explosion The Coast Guard is on the scene of another oil rig fire in the Gulf of Mexico. Officials are now reporting a mile-long oil sheen spreading from the site.

Karzai’s brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate As depositors thronged branches of Afghanistan’s biggest bank, Mahmoud Karzai, the brother of the Afghan president and a major shareholder in beleaguered Kabul Bank called on Thursday for intervention by the United States to head off a financial meltdown.

Mexico drug kingpin says he received trailers of US cash A captured Mexican drug kingpin admitted to “investments” in Colombia and said he had received trailers full of dollars from the United States, in a first interrogation video released here.

‘Iraq war based on lies and deception’ Former Reagan Administration official Paul Craig Roberts says that we didn’t hear why we initially went to war with Iraq, although the world knows was based on lies and deception.

Pakistan military abandons US trips after being ‘mistaken for terrorists’ Pakistani officials said the officer, weary from the journey to the US, had said, “I hope this is the final plane to the destination” causing a female passenger, who believed he was threatening the aircraft, to panic.

`Drudgereport: TIME: (WOBAMA) MR. UNPOPULAR...`         `FLASHBACK: (WOBAMA) TIME MAN OF THE YEAR 2008... Calls for USA to shore up Afghanistan Bank as withdrawals accelerate... UPDATE: Oil rig explodes in Gulf of Mexico; 7 active wells on platform...`
`COAST GUARD: Mile-long 'oil sheen' spreading...`

`Russian police raid opposition magazine... [They don’t often do this overtly in america anymore since most media is in cahoots / controlled; but still, no excuse for putin who is often disengaged as when he is out shooting Siberian Tigers with sophisticated weaponry. ] Pledge beaten by sorority sisters who warned her 'snitches get stitches'...` ‘… In her lawsuit, excerpted here, Howard noted that she had originally planned to pledge Alpha Kappa Alpha, the oldest African-American women’s sorority. But since the sorority’s San Jose chapter has been suspended due to hazing activities, Howard opted to join Sigma Gamma Rho, believing that “they represented the ‘sisterhood’ she sought in a sorority.” However, Howard contends, that the group’s pledge process was far from sisterly. According to her complaint, she and fellow pledges were punched, slapped, kicked, slammed into walls, struck with a wooden spoon and a cane, and had books and coins thrown at them during a series of 16 nighttime initiation sessions. Howard recalled one evening when a sorority sister told her to close her eyes. She was then struck on the buttocks with what she later learned was a kitchen pot. The pledges were also frequently struck with a wooden paddle, Howard said, blows that left her with welts on her buttocks. Howard reported that pledges were repeatedly warned not to talk with friends and family about the initiation process, since “snitches get stitches.” They were also told that if they failed to participate in certain pledge activities, they would be “jumped out,” a gang term for a beating conducted by all members of the group. Howard’s complaint names as defendants San Jose State University, Sigma Gamma Rho, and various sorority members, including a quartet of women who, court records show, pleaded no contest earlier this year to misdemeanor hazing charges. The defendants--Princess Odom; Monique Hughes; Joslyn Beard; and Nicole Remble--were each sentenced to 90 days in jail, directed to serve two years of court probation, and barred from involvement with any sorority. Odom, Hughes, Beard, and Remble (all negroes) are pictured here, clockwise from upper left, in San Jose Police Department mug shots.’

9-1-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Those Who Ignore History... [The aforementioned from The Pragmatic Capitalist is a cogent summary of extant problems which undoubtedly will end quite badly for the unwary (today’s folly represents a great opportunity to sell / take profits), infra, and should be read in tandem with Graham Summer’s exposé which follows. Yet, the situation as realistically bad as they’ve so presented same, is far more dire than even they posit for the u.s. particularly owing to structural problems now inherent to america’s economy / business model which bodes ill as never before in america’s relatively short history. U.S. Stocks Surge On Overseas Growth Riiiiight! Some of the same mainstream, (msnbc) ‘money honey’ drivel one would expect from Forbes faux ‘capitalist tool’ cheerleading squad, totally devoid of forward-looking analytical prowess and leaves you burned every time. Come on! Government Motors and Ford sales were down significantly, construction spending down, private sector jobs lost, and even BofA’s Merrill Lynch has sugar-coated the reality cutting the wall street frauds a break by calling this a ‘growth rececession’. The typical fraudulent wall street churn-and-earn computerized trade scam with built in commission volume for the way down. Sorry to say it, but the reality is: This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]
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 Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent). ] The Pragmatic Capitalist ‘My position over the last 2 years has been as follows: this is a Main Street debt crisis. I have been highly critical of the government’s incessant interventionist policies over the last few years largely because they ignore the actual problems at hand. First it was Mr. Bernanke saving the banks because he believed the credit crisis started with the banking sector. The great monetarist gaffe ensued. Tim Geithner piled on with the PPIP. FASB jumped on board the bank rescue plan by altering the accounting rules. And then the icing on the cake was the Recovery Act, which, in my opinion, just shoveled money into the hole that had become the output gap, without actually trying to target the real cause of the crisis – those burdened by the debt. In essence, the various bailouts primarily targeted everyone except the people who really needed it.

A year ago I posted a story citing the many reasons why we were sinking into the deflationary Japanese trap. The primary flaw with the US response to the crisis was that we never actually confronted the problem at hand. I have often cited Japanese economists such as Richard Koo who appear to have a good grasp on the problems in Japan and now in the USA. In this case, I cited Keiichiro Kobayashi who is now looking most prescient:

We continue to ignore our past and the warnings from those who have dealt with similar financial crises. Keiichiro Kobayashi, Senior Fellow at the Research Institute of Economy, Trade and Industry is the latest economist with an in-depth understanding of Japan, who says the U.S. and U.K. are making all the same mistakes:

“Bad debt is the root of the crisis. Fiscal stimulus may help economies for a couple of years but once the “painkilling” effect wears off, US and European economies will plunge back into crisis. The crisis won’t be over until the nonperforming assets are off the balance sheets of US and European banks.”

Read that last paragraph again. These are scarily accurate comments. While the USA claims to have many economists who understand the Japan disease and/or the Great Depression the policy actions we’ve undertaken do not appear to be in line with any understanding of this history.

What we’ve done over the last few years is repeat the mistakes of Japan’s past. Instead of confronting the debt problems head on we have simply tried to fill the output gap with short-term spending plans and impotent monetary policies. As Kobayashi presciently said, the “bad debt is the root of the crisis”. I think most mainstream economists, the administration and the Fed have continually misdiagnosed our problems. They have attempted to save the banking sector and simply fill in holes with spending plans that prop up markets, entice more borrowing and largely ignore the actual cause of the current crisis. Some economists have argued that the Recovery Act didn’t fail, but that it was too small. This is like saying that the cancer patient didn’t receive enough percocet. More percocet isn’t the cure. Targeting the cancer and trying to cut it out is the cure. Yet, we continue to ignore the lessons of Japan despite having so many “experts” on the Japanese disease. Therefore, we appear destined to repeat their horrid economic history assuming our current path isn’t miraculously altered.’

WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the lunatic frauds on wall street are criminally insane and the only way to stop / deter their debilitating churn and earn among other computerized frauds is prosecution, jail, fines, and disgorgement! Once again they’re back to their huge fraudulent gains as seen this reporting period despite growing problem bank list, worthless paper from the prior fraud in the (hundreds of) trillions now marked to anything, and look at August results and worse to come; that money for their commissions / premiums must come from someplace, viz., the bubble which will deflate / crash. ] Graham Summers ‘Here’s a zinger of a news story:

Barclays Plc had no idea how big Lehman Brothers Holdings Inc.’s futures-and-options trading business was when it considered taking over the defunct bank’s derivatives trades at exchanges in 2008, a Barclays executive said.“Lehman’s books were in such a mess that I don’t think they knew where they were,” Elizabeth James, a director of Barclays’s futures business, testified today in U.S. Bankruptcy Court in Manhattan. James worked on Barclays’s purchase of Lehman’s brokerage during the 2008 financial crisis.-- Bloomberg

I’ve railed for months that the central issue surrounding the Financial Crisis (derivatives) was not only misunderstood but completely ignored by the mainstream financial media. Here we are, nearly two years after Lehman Brothers went bust, and they’re telling us that Lehman had “no idea” what its options and futures exposure was.

Let’s put this into perspective.

The notional value of the derivatives market at the time that Lehman went bust was somewhere between $600 trillion and $1 Quadrillion (1,000 trillions). It was a market of inter-linked paper contracts entangling virtually every financial institution (including some non-financials), country (Greece, Italy used derivatives to get into the European union), and county (Birmingham Alabama is one example) in the world. As a market it was at least 20 times larger than the world stock market and somewhere north of 10 times World GDP.**

In other words, this was the giant white elephant in the living room.

And here’s Lehman brothers, one of Wall Streets’ finest, most respected financial institutions which had been in business for over 150 years announcing that it had “no idea” “if it had sold $2 billion more options than it had bought, or whether it owned $4 billion more than it had sold.”

In today’s world of trillion dollar bailouts, $2-4 billion doesn’t sound like much, so let’s give some perspective here… in its golden days, Lehman Brother’s market cap was roughly $47 billion. So you’re talking about bets equal to an amount between five and 10% of its market cap. Not exactly chump change.

And Lehman had no idea where it was or how much it really owed.

Mind you, we’re only addressing Lehman’s options and futures derivatives, we’re completely ignoring its mortgage backed securities, collateralized debt obligations (CDOs), and other Level 3 assets. Options and futures are literally the “tip of the iceberg,” the most visible portion of the behemoth that was Lehman’s off balance sheet derivative issues. After all, these are regulated securities, unlike most derivatives.

Now, if the above statement doesn’t send shivers down your spine, have a look at the notional value of derivatives exposure at the top five financial institutions in the US (mind you, this chart is denominated in TRILLIONS). [chart]

If Lehman had “no idea” what it owned even when it came to options and futures (regulated derivatives), what are the odds that these other firms, whose derivative exposure is tens if not hundreds of times larger than that of Lehman’s, might similarly be “in the dark’ regarding their risk?

Moreover, who on earth might be on the opposite end of these deals? Other US counties like Birmingham Alabama (which JP Morgan transformed into 3rd world country status)? Other countries like Italy or Greece (who used Goldman’s financial engineering to get into the European Union)? My next-door neighbor’s house? Tim Geithner’s long-lost tax returns? WHO KNOWS?

The point is that the very same issues that nearly took the financial world under in 2008 still exist today. In fact, this time around the systemic risk is even more severe.

Consider that the Credit Default Swap (CDS) market which nearly took the financial system down in 2008 was roughly $50-60 trillion in size. In contrast, the interest rate based derivative market is in the ballpark of $500+ trillion.

Indeed, US commercial banks alone have $182 TRILLION in notional value of interest rate based derivatives outstanding right now. To put that ridiculous number in perspective it’s 13 times US GDP and roughly three times WORLD GDP…’

Predicting This Year's Bank Failures ‘The FDIC’s quarterly banking profile, providing data for quarter 2, was released today. The number of 2010 United States bank failures will likely exceed the 2009 failures, the FDIC reported. This was as I reported in this space back in May. Thus far this year there have been 118 bank closings, which compares to about 80 by the same time of year in 2009. The number of banks on the problem list is still rising. It is now at 829 banks…’

U.S. Auto Sales May Hit 28-Year Low as Discounts Flop Bloomberg | U.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs.

A Termite-Riddled House: Treasury Bonds Gonzalo Lira | The United States will have a fiscal-debt-to-GDP ratio of 100% this year, and 110% next year — if not higher.

The Reckless Mess Created by The Fed Quantitative easing will put the American public at ease, at least temporarily. They do not realize it but the American and world economies are in a deliberate state of slow collapse. Yes, the Fed has created a terrible mess. They have been totally unprofessional and reckless.

Gold Is Surging This Morning, And Within A Rock’s Throw Of A Brand New Record Oh hello. The high is just above $1260, so it could happen today easily. Stocks are rallying, too, so you know the dollar is getting whacked. It is.

Second Leg of Crisis Beginning: Hedge Fund Manager September and October hold bad news for stock markets and banks remain overleveraged as we head into the second leg of the financial crisis according to Pedro De Noronha, the managing partner at Noster Capital in London.

Winners And Losers The reality is that it has now become undeniable that globalism has arrived and we are now part of a world economy that is integrating at lightning speed. Unfortunately, all of this globalism has created some very clear winners and losers. But most middle class Americans are in such a deep sleep that they don’t even realize that they are the losers.

National / World

Death By Globalism Paul Craig Roberts | The Federal Reserve will monetize the federal government deficit. The result will be high inflation, possibly hyper-inflation and high unemployment simultaneously.

What Obama Didn’t Say About Afghanistan Ray McGovern | My Fellow Americans… so much for Iraq. Turning now to Afghanistan …`48 HOURS: 21 American soldiers killed in Afghanistan...`

Vaccine Death Coverup Implodes Worldwide Infowars.com | Once again the government wants to push it’s mercury filled vaccines on everyone, especially children.

Drudgereport: `Auto sales: Worst August since 1983...`
`AMERICA RUST-` `India's economy races 8.8%...`
`Russian economy grows 4.0%...`
`German unemployment rate 7.6%...`

`FDIC MESS: 829 BANKS AT RISK... 48 HOURS: 21 American soldiers killed in Afghanistan...`

`Worst August For Stocks Since 2001...`

`Congressional Travel Stipends Probed...`
`Dems face midterm meltdown...`
`Ron Paul questions whether there's gold at Fort Knox, NY Fed...`

`Dow Falls 140 Points; Banks, Industrials Slide...`
`1 OUT OF 6 TAKE GOV'T AID... Homelessness Up 50% In New York City... OBAMA BLAMES BUSH AGAIN FOR ECONOMY … [ bush (et als) does deserve blame but with flawed pro-fraudulent wall street among other non-policies and continued nation-bankrupting war, wobama is a distinction without a difference and has bought it and can no longer shirk responsibility with the blame game ] ... Iran state media call French first lady prostitute...`

`EDUCATION SEC URGED STAFF: GO TO SHARPTON RALLY`

8-31-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the lunatic frauds on wall street are criminally insane and the only way to stop / deter their debilitating churn and earn among other computerized frauds is prosecution, jail, fines, and disgorgement! Once again they’re back to their huge fraudulent gains as seen this reporting period despite growing problem bank list, worthless paper from the prior fraud in the (hundreds of) trillions now marked to anything, and look at August results and worse to come, that money for their commissions / premiums must come from someplace, viz., the bubble which will crash. ] Graham Summers ‘Here’s a zinger of a news story:

Barclays Plc had no idea how big Lehman Brothers Holdings Inc.’s futures-and-options trading business was when it considered taking over the defunct bank’s derivatives trades at exchanges in 2008, a Barclays executive said.“Lehman’s books were in such a mess that I don’t think they knew where they were,” Elizabeth James, a director of Barclays’s futures business, testified today in U.S. Bankruptcy Court in Manhattan. James worked on Barclays’s purchase of Lehman’s brokerage during the 2008 financial crisis.-- Bloomberg

I’ve railed for months that the central issue surrounding the Financial Crisis (derivatives) was not only misunderstood but completely ignored by the mainstream financial media. Here we are, nearly two years after Lehman Brothers went bust, and they’re telling us that Lehman had “no idea” what its options and futures exposure was.

Let’s put this into perspective.

The notional value of the derivatives market at the time that Lehman went bust was somewhere between $600 trillion and $1 Quadrillion (1,000 trillions). It was a market of inter-linked paper contracts entangling virtually every financial institution (including some non-financials), country (Greece, Italy used derivatives to get into the European union), and county (Birmingham Alabama is one example) in the world. As a market it was at least 20 times larger than the world stock market and somewhere north of 10 times World GDP.

In other words, this was the giant white elephant in the living room.

And here’s Lehman brothers, one of Wall Streets’ finest, most respected financial institutions which had been in business for over 150 years announcing that it had “no idea” “if it had sold $2 billion more options than it had bought, or whether it owned $4 billion more than it had sold.”

In today’s world of trillion dollar bailouts, $2-4 billion doesn’t sound like much, so let’s give some perspective here… in its golden days, Lehman Brother’s market cap was roughly $47 billion. So you’re talking about bets equal to an amount between five and 10% of its market cap. Not exactly chump change.

And Lehman had no idea where it was or how much it really owed.

Mind you, we’re only addressing Lehman’s options and futures derivatives, we’re completely ignoring its mortgage backed securities, collateralized debt obligations (CDOs), and other Level 3 assets. Options and futures are literally the “tip of the iceberg,” the most visible portion of the behemoth that was Lehman’s off balance sheet derivative issues. After all, these are regulated securities, unlike most derivatives.

Now, if the above statement doesn’t send shivers down your spine, have a look at the notional value of derivatives exposure at the top five financial institutions in the US (mind you, this chart is denominated in TRILLIONS). [chart]

If Lehman had “no idea” what it owned even when it came to options and futures (regulated derivatives), what are the odds that these other firms, whose derivative exposure is tens if not hundreds of times larger than that of Lehman’s, might similarly be “in the dark’ regarding their risk?

Moreover, who on earth might be on the opposite end of these deals? Other US counties like Birmingham Alabama (which JP Morgan transformed into 3rd world country status)? Other countries like Italy or Greece (who used Goldman’s financial engineering to get into the European Union)? My next-door neighbor’s house? Tim Geithner’s long-lost tax returns? WHO KNOWS?

The point is that the very same issues that nearly took the financial world under in 2008 still exist today. In fact, this time around the systemic risk is even more severe.

Consider that the Credit Default Swap (CDS) market which nearly took the financial system down in 2008 was roughly $50-60 trillion in size. In contrast, the interest rate based derivative market is in the ballpark of $500+ trillion.

Indeed, US commercial banks alone have $182 TRILLION in notional value of interest rate based derivatives outstanding right now. To put that ridiculous number in perspective it’s 13 times US GDP and roughly three times WORLD GDP…’

Predicting This Year's Bank Failures ‘The FDIC’s quarterly banking profile, providing data for quarter 2, was released today. The number of 2010 United States bank failures will likely exceed the 2009 failures, the FDIC reported. This was as I reported in this space back in May. Thus far this year there have been 118 bank closings, which compares to about 80 by the same time of year in 2009. The number of banks on the problem list is still rising. It is now at 829 banks…’

Market recap: Stocks closed mixed, making up ground after the Fed's minutes showed the economy would need to get worse before providing more support. Although the Dow eked out a gain, it was the worst August for the index in nine years. Tuesday, August 31, 4:00 PM At the close: Dow +0.05% to 10014. S&P +0.03% to 1049. Nasdaq -0.28% to 2114.
Treasurys: 30-year +0.75%. 10-yr +0.27%. 5-yr +0.22%.
Commodities: Crude -3.92% to $71.77. Gold +0.9% to $1250.40.
Currencies: Euro +0.1% vs. dollar. Yen +0.8%. Pound -0.76%.

Ron Paul to Fed, Ft. Knox: Show Me the Gold at Minyanville

The Deteriorating Macro Picture ‘Over the course of the last 18 months I’ve been adhering to a macro view that can best be summed up as follows:

The explosion in private debt (excessive housing borrowing, excessive corporate debt, etc) levels would reveal the private sector as unable to sustain positive economic growth, de-leveraging and deflation would ensue.

Government intervention would help moderately boost aggregate demand, improve bank balance sheets, improve sentiment, boost asset prices but fail to result in sustained economic recovery as private sector balance sheet recession persists.

Extremely depressed estimates and corporate cost cutting would improve margins and generate a moderate earnings rebound, but would come under pressure in 2010 as margin expansion failed to continue at the 2009 rate.

The end of government intervention in H2 2010 will reveal severe strains in housing and will reveal the private sector as still very weak and unable to sustain economic growth on its own.

The rebound in assets was surprisingly strong and the ability of corporations to sustain bottom line growth has been truly impressive – far better than I expected. However, I am growing increasingly concerned that the market has priced in overly optimistic earnings sustainability – in other words, estimates and expectations have overshot to the upside.

What we’ve seen over the last few years is not terribly complex in my opinion. The housing boom created what was in essence a massively leveraged household sector. The problems were compounded by the leveraging in the financial sector, however, this was merely a symptom of the real underlying problem and not the cause of the financial crisis (despite what Mr. Bernanke continues to say and do to fix the economy) …’

Gold Surges To Near $1,250, As Stealthy Flight To Safety Accelerates, Stocks Oblivious As stocks continue to correlate with exactly nothing, and are once again lost in their own HFT dreamworld, which fools Atari in believing the toxic crap it is churning millions of times each second is worth something (and the exchanges gladly continue to pay liquidity rebates for said churn), the capital continues to quietly flow to safety.

Bankrupt Miami in Fiscal Emergency, Breaks Employee Contracts, Hikes Property Taxes In an enormously foolhardy attempt to make ends meet, in spite of the fact that Miami home prices have been hammered and 1-in-8 are unemployed, the County keeps pouring on the painful tax and fee increases.

Gold Rallying to $1,500 as Soros’s Bubble Inflates Investors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most- accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds.

30 Statistics That Prove The Elite Are Getting Richer, The Poor Are Getting Poorer And The Middle Class Is Being Destroyed Not everyone has been doing badly during the economic turmoil of the last few years. In fact, there are some Americans that are doing really, really well. While the vast majority of us struggle, there is one small segment of society that is seemingly doing better than ever.

In the Eye of a Financial Katrina - http://seekingalpha.com/author/wall-street-sector-selector Sunday, August 29th, was the fifth anniversary of Hurricane Katrina’s landfall along the Gulf Coast and all of us vividly remember the horrific images of that day and the days and weeks after. Five years later, the Gulf Coast has come a long way but most would agree there’s still have a long way to go and many scars yet to be healed. In the world of money and investing, the Financial Katrina hit three years ago this month with the beginning of the sub prime meltdown that led to the “Great Recession.” For the past year or so, we have been in what appeared to be a recovery but now looks more like the eye of the storm; today it is quite likely that the second wall of the hurricane is now rapidly bearing down upon us. The news this week was intensely negative and the only bright spot came on Friday with Chairman Bernanke’s speech at Jackson Hole in which he essentially told us, “don’t worry, be happy” and that all would be well. In spite of the Chairman’s calming tone, Wall Street Sector Selector remains in the “red flag flying” mode and we believe that an intense storm lies just ahead. Looking at My Screens On a technical basis, one can only be bearish and the two charts below tell a quick and scary story. [ chart courtesy of StockCharts.com ]In the chart of the S&P 500 above we see the “death cross” highlighted by the downward pointing arrow wherein the 50-Day Moving Average crossed below the 200-Day Moving Average which is a widely followed indicator of lower stock prices ahead. In the upper box we see the 14-day RSI pointing upwards from relatively oversold levels indicating that a short term bounce could be forthcoming, while the red horizontal line shows the support at 1040 which was tested and held every day last week. From this display we can conclude that we are in a bear market, slightly oversold and near support that, if broken, could lead to a quick drop to the July lows of 1010. [ chart courtesy of StockCharts.com ] The point and figure chart above paints an even more ominous picture. A double bottom “sell” signal was generated on August 11th and the index has now broken through the blue bullish support line, indicating the onset of a new bear market in this major index. Support and resistance lines in point and figure charting tend to act like firm walls and mark major turning points in direction, and this recent trend change is the first since March, 2009, when the lows were hit and last year’s unprecedented rally began. The breach of this bullish support line is a major development and in my opinion is an unmistakable sign that it’s time to head for the storm shelters. The View from 35,000 Feet The fundamental news was equally shocking this week as existing home sales declined to 3.8 million units for July from a previous level of 5.26 million. This number is a record low and single family home sales were at the lowest levels since 1995. Truly we are in what could only be described as a housing market depression, and this comes in spite of historically low mortgage rates that people appear to be ignoring. Seemingly almost nobody wants to buy a house at any rate or any price. New home sales fared no better, declining to record lows, as well, while 25% of mortgage holders are currently “upside down” in their homes, owning more than they’re worth, and 15% are in some part of the foreclosure process. Beyond the dismal news from the housing market, the July Durable Goods report was dismal and points to an ongoing slowdown in capital spending and on Friday 2nd Quarter GDP was revised downward to 1.6% from a previous 2.4% in what could only be described as a terrifying result in light of the stimulus and Federal Reserve intervention required to generate this paltry number. More and more analysts are pointing to further reductions in GDP for 3rd Quarter towards flat or even negative territory while the stock market seems currently priced for 1.5-2.5% growth and this creates a situation which is unlikely to have a positive outcome going forward. Looking across the spectrum of noted analysts, we find Princeton economist and former Federal Reserve member Alan Blinder writing an article in the Wall Street Journal titled, “The Fed is Running out of Ammo” and noted Yale economist Robert Shiller appeared on the Wall Street Journal’s “Big Interview” and said that a double dip “may be imminent.” And finally Albert Edwards, the noted analyst from Societe General says to look for 450 on the S&P 500, a roll back to 1982 levels. Fidelity reports that in the second quarter 25% of people took hardship withdrawals from their 401ks, a number that represents a 10 year high, to help them meet living expenses and the ECRI remained in recessionary territory with a -9.9% reading last week. On Friday Intel (INTC) cut its earnings and revenue forecast and across the Atlantic Ireland was downgraded and given a negative outlook by S&P. Also in Europe, interest rates and Credit Default Swap pricing continued to rise as their sovereign debt situation continues to erode confidence in the outcome of the European Central Bank’s historic intervention efforts of a couple of months ago. The bond market remains priced for Armageddon, forming what many say will one day be the biggest bubble of all time and lead to a historic crash in the bond market somewhere down the road. But on Friday, Dr. Bernanke cheered world markets when he told us that he expected no double dip, that growth would continue and improve and that he and his colleagues stood ready to do whatever it takes to avoid deflation and that he had the tools to lead the global economy to recovery. This upbeat assessment comes after unprecedented government stimulus, interest rates lowered to near zero and $1.7 Trillion of asset purchases by the Fed since the onset of the Great Recession. So one can only wonder how this is going to work. If the medicine hasn’t worked so far, why would a little more of the same medicine make a difference? What It All Means As we’ve been saying for weeks, a double dip looks highly probable with the odds growing daily, lower stock prices look likely and to make your chest feel even tighter, summer is almost over, traders will be back from the Hamptons, the kids will be back in school and we’re about to enter the dreaded month of September which is historically the worst month for stock market performance. At Wall Street Sector Selector, we remain in the “Red Flag” mode, expecting lower prices ahead, and we forecast that the second storm wall of the Financial Katrina is about to hit. The Week Ahead To say that a major week lies ahead is a massive understatement. Economic Reports: A busy round of economic reports this week will give us a look at personal income and spending, home prices, manufacturing and what the Federal Reserve really thought at their recent meeting with everything leading up to the climactic Non Farm Payroll report on Friday. Certainly all of this will be food for thought going into the long Labor Day weekend. Tuesday: 0900: Case/Shiller 20 City Home Price Index 0945: August Chicago PMI 1000: August Consumer Confidence. 1400: FOMC Meeting Minutes Wednesday: 0815: July Construction Spending 1000: August ISM Index 1400: August Auto Sales Thursday: 0830: Initial Unemployment Claims, Continuing Unemployment Claims 1000: July Factory Orders 1000: July Pending Home Sales Friday: 0830: August Non Farm Payrolls 0830: August Unemployment Rate 1000: ISM Services Sector Spotlight: Leaders: Silver, Oil, Copper Laggards: Mexico, Global Shipping, South Korea This week we’re heading for Southwest Florida for a last week of R&R before school starts and reality strikes after the long Labor Day weekend. We hope to have a nice time on the beach and not see any tar balls between our toes. Sadly, I’m sure this year’s Labor Day celebration won’t be a particularly happy occasion for the 14.6 million of our fellow citizens who remain unemployed and I can only wish them the very best and a speedy return to gainful employment and happier days ahead. Disclosure: RWM, PSQ, SH, SEF, EFZ, SKF, VXX, S&P 500 Put Option

Obama promises new efforts to boost economy (Washington Post) [ New efforts with the same old failed team covering for the previous same old failed team? The same promised new efforts which were nothing new at all; viz., focus on new war in Afghanistan, increase budget deficits, a penchant for the very perps who precipitated the financial crisis and who should have been prosecuted, jailed, fined and disgorgement imposed, etc.. No details? What’s the matter wobama? Teleprompter not working? ]Obama offered no new proposals during brief remarks in the Rose Garden, saying he would provide details "in the days and weeks to come."

Car sales, spending up, but experts not convinced of trend (Washington Post) [ I’d say time for ‘mouth to mouth resuscitation’ and a closer look isn’t even necessary. Some experts? Just ask any guy on main street. Treading water? I’d say time for post-mortem on the drowning victim.] But a closer look at those car sales raises questions about whether the auto market - and consumer spending as a whole - are indeed on an upward arc or whether they are just treading water.

Obama to loosen rules on technology exports (Washington Post) [ Oooooh! Sounds like a continuation of the ‘clinton plan’ regarding missile among other technologies to China which worked so well for america in maintaining its prominently global position vis-à-vis communist china et als. Come on! wobama’s so done! Let the next president determine the probity of such a course! ] White House is overhauling the decades-old rules for the export of sensitive military and other technology, jettisoning what industry groups criticize as an antiquated "Cold War" set of regulations.

In the Middle East, it's still 1947 (Washington Post) [ Indeed it should be! Among the few times the cia was correct, and they’ve been trying to put square pegs in round holes ever since, to america’s substantial detriment. I wonder what what those american sailors of the US Liberty killed by the israelis would say? USS Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney, decorated war hero and survivor of Israel’s premeditated attack on the USS Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened by a foreign national claiming to work for the government of israel. As for the purported disdain shown for war mongerer netanayahu, if only wobama’s actions matched his words, the same would represent a major plus for him and the nation of america, so sorely in need of pluses whether the same be budgetary or economic or geopolitical. In fact, for America to abrogate 1948 would guarantee America’s survival, prosperity, and global hegemony in the most positive sense. ]

Is Ben Lost? [Yes!] Butter ‘The much awaited speech by Ben Bernanke, on Friday, was a bit of a non-event. It was interesting, however, to see the 30 Year bounce, from 3.55% to 3.7%, the moment that Ben explained his cunning plan to push long-term interest rates down. But at least we learned that $140 billion of the $1.25 billion the Fed advanced to buy agency debt and MBS, got repaid. One question Ben: “How much did you pay for the $140 billion that got repaid? Did you make a profit, or are you going to wait until Ron Paul’s audit before you let us know how that went?.” I know I’ve got a dirty mind, but I can’t help thinking that if Ben had made a profit on that transaction, he would have been crowing about it. I loved this bit, particularly the “Thus”:

Economy Caught in Depression, Not Recession: Rosenberg Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. ‘Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”

Op-Ed Columnist - The Third Depression - NYTimes.com Economic Policy: Nobel Prize-winning economist Paul Krugman says the US is in the "early stages of a third Great Depression. The Third Depression By PAUL KRUGMAN Published: June 27, 2010 ‘Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31. Neither the Long Depression of the 19th century nor the Great Depression of the 20th was an era of nonstop decline — on the contrary, both included periods when the economy grew. But these episodes of improvement were never enough to undo the damage from the initial slump, and were followed by relapses. We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. And this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending. In 2008 and 2009, it seemed as if we might have learned from history. Unlike their predecessors, who raised interest rates in the face of financial crisis, the current leaders of the Federal Reserve and the European Central Bank slashed rates and moved to support credit markets. Unlike governments of the past, which tried to balance budgets in the face of a plunging economy, today’s governments allowed deficits to rise. And better policies helped the world avoid complete collapse: the recession brought on by the financial crisis arguably ended last summer. But future historians will tell us that this wasn’t the end of the third depression, just as the business upturn that began in 1933 wasn’t the end of the Great Depression. After all, unemployment — especially long-term unemployment — remains at levels that would have been considered catastrophic not long ago, and shows no sign of coming down rapidly. And both the United States and Europe are well on their way toward Japan-style deflationary traps …’

Here’s a new piece of the dismally murky puzzle which belies a previous raison d’etre for rally: Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches . Previously, Walmart same store sales were actually down (overseas results were up), and, think about it. Isn’t Walmart, as essentially an american based sales agent of china products a ‘contrarian indicator’ for the the u.s.; that is , hasn’t Walmart’s rise coincided with american main street’s demise. Similarly, fraudulent wall street high frequency churn and earn programmed trade scams among many other frauds as yet unprosecuted has heralded the death knell for american business and the economy, generally. Old news at best and, that ‘not bad as expected, better than expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers were also strong. As a group retailers climbed 1.8%. Discount retail giant and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on the back of in-line earnings and an improved forecast. Home improvement retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a more positive influence over retailers. It posted better-than-expected earnings for the latest quarter, but issued a rather mixed forecast. A smaller-than-expected increase in housing starts during July didn't do anything to derail the stock this session. Housing starts for July increased 1.7% month-over-month to an annualized rate of 546,000 units, which is less than the rate of 555,000 units that had been widely anticipated. Building permits for July fell 3.1% month-over-month to an annualized rate of 565,000, which is below the rate of 573,000 that had been expected…’ But, just a push of the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

8-30-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

In the Eye of a Financial Katrina - http://seekingalpha.com/author/wall-street-sector-selector Sunday, August 29th, was the fifth anniversary of Hurricane Katrina’s landfall along the Gulf Coast and all of us vividly remember the horrific images of that day and the days and weeks after. Five years later, the Gulf Coast has come a long way but most would agree there’s still have a long way to go and many scars yet to be healed. In the world of money and investing, the Financial Katrina hit three years ago this month with the beginning of the sub prime meltdown that led to the “Great Recession.” For the past year or so, we have been in what appeared to be a recovery but now looks more like the eye of the storm; today it is quite likely that the second wall of the hurricane is now rapidly bearing down upon us. The news this week was intensely negative and the only bright spot came on Friday with Chairman Bernanke’s speech at Jackson Hole in which he essentially told us, “don’t worry, be happy” and that all would be well. In spite of the Chairman’s calming tone, Wall Street Sector Selector remains in the “red flag flying” mode and we believe that an intense storm lies just ahead. Looking at My Screens** On a technical basis, one can only be bearish and the two charts below tell a quick and scary story. [ chart courtesy of StockCharts.com ]In the chart of the S&P 500 above we see the “death cross” highlighted by the downward pointing arrow wherein the 50-Day Moving Average crossed below the 200-Day Moving Average which is a widely followed indicator of lower stock prices ahead. In the upper box we see the 14-day RSI pointing upwards from relatively oversold levels indicating that a short term bounce could be forthcoming, while the red horizontal line shows the support at 1040 which was tested and held every day last week. From this display we can conclude that we are in a bear market, slightly oversold and near support that, if broken, could lead to a quick drop to the July lows of 1010. [ chart courtesy of StockCharts.com ] The point and figure chart above paints an even more ominous picture. A double bottom “sell” signal was generated on August 11th and the index has now broken through the blue bullish support line, indicating the onset of a new bear market in this major index. Support and resistance lines in point and figure charting tend to act like firm walls and mark major turning points in direction, and this recent trend change is the first since March, 2009, when the lows were hit and last year’s unprecedented rally began. The breach of this bullish support line is a major development and in my opinion is an unmistakable sign that it’s time to head for the storm shelters. The View from 35,000 Feet The fundamental news was equally shocking this week as existing home sales declined to 3.8 million units for July from a previous level of 5.26 million. This number is a record low and single family home sales were at the lowest levels since 1995. Truly we are in what could only be described as a housing market depression, and this comes in spite of historically low mortgage rates that people appear to be ignoring. Seemingly almost nobody wants to buy a house at any rate or any price. New home sales fared no better, declining to record lows, as well, while 25% of mortgage holders are currently “upside down” in their homes, owning more than they’re worth, and 15% are in some part of the foreclosure process. Beyond the dismal news from the housing market, the July Durable Goods report was dismal and points to an ongoing slowdown in capital spending and on Friday 2nd Quarter GDP was revised downward to 1.6% from a previous 2.4% in what could only be described as a terrifying result in light of the stimulus and Federal Reserve intervention required to generate this paltry number. More and more analysts are pointing to further reductions in GDP for 3rd Quarter towards flat or even negative territory while the stock market seems currently priced for 1.5-2.5% growth and this creates a situation which is unlikely to have a positive outcome going forward. Looking across the spectrum of noted analysts, we find Princeton economist and former Federal Reserve member Alan Blinder writing an article in the Wall Street Journal titled, “The Fed is Running out of Ammo” and noted Yale economist Robert Shiller appeared on the Wall Street Journal’s “Big Interview” and said that a double dip “may be imminent.” And finally Albert Edwards, the noted analyst from Societe General says to look for 450 on the S&P 500, a roll back to 1982 levels. Fidelity reports that in the second quarter 25% of people took hardship withdrawals from their 401ks, a number that represents a 10 year high, to help them meet living expenses and the ECRI remained in recessionary territory with a -9.9% reading last week. On Friday Intel (INTC) cut its earnings and revenue forecast and across the Atlantic Ireland was downgraded and given a negative outlook by S&P. Also in Europe, interest rates and Credit Default Swap pricing continued to rise as their sovereign debt situation continues to erode confidence in the outcome of the European Central Bank’s historic intervention efforts of a couple of months ago. The bond market remains priced for Armageddon, forming what many say will one day be the biggest bubble of all time and lead to a historic crash in the bond market somewhere down the road. But on Friday, Dr. Bernanke cheered world markets when he told us that he expected no double dip, that growth would continue and improve and that he and his colleagues stood ready to do whatever it takes to avoid deflation and that he had the tools to lead the global economy to recovery. This upbeat assessment comes after unprecedented government stimulus, interest rates lowered to near zero and $1.7 Trillion of asset purchases by the Fed since the onset of the Great Recession. So one can only wonder how this is going to work. If the medicine hasn’t worked so far, why would a little more of the same medicine make a difference? What It All Means As we’ve been saying for weeks, a double dip looks highly probable with the odds growing daily, lower stock prices look likely and to make your chest feel even tighter, summer is almost over, traders will be back from the Hamptons, the kids will be back in school and we’re about to enter the dreaded month of September which is historically the worst month for stock market performance. At Wall Street Sector Selector, we remain in the “Red Flag” mode, expecting lower prices ahead, and we forecast that the second storm wall of the Financial Katrina is about to hit. The Week Ahead To say that a major week lies ahead is a massive understatement. Economic Reports: A busy round of economic reports this week will give us a look at personal income and spending, home prices, manufacturing and what the Federal Reserve really thought at their recent meeting with everything leading up to the climactic Non Farm Payroll report on Friday. Certainly all of this will be food for thought going into the long Labor Day weekend. Tuesday: 0900: Case/Shiller 20 City Home Price Index 0945: August Chicago PMI 1000: August Consumer Confidence. 1400: FOMC Meeting Minutes Wednesday: 0815: July Construction Spending 1000: August ISM Index 1400: August Auto Sales Thursday: 0830: Initial Unemployment Claims, Continuing Unemployment Claims 1000: July Factory Orders 1000: July Pending Home Sales Friday: 0830: August Non Farm Payrolls 0830: August Unemployment Rate 1000: ISM Services Sector Spotlight: Leaders: Silver, Oil, Copper Laggards: Mexico, Global Shipping, South Korea This week we’re heading for Southwest Florida for a last week of R&R before school starts and reality strikes after the long Labor Day weekend. We hope to have a nice time on the beach and not see any tar balls between our toes. Sadly, I’m sure this year’s Labor Day celebration won’t be a particularly happy occasion for the 14.6 million of our fellow citizens who remain unemployed and I can only wish them the very best and a speedy return to gainful employment and happier days ahead. Disclosure: RWM, PSQ, SH, SEF, EFZ, SKF, VXX, S&P 500 Put Option

Jim O’Neill Suggests It May Be Time For The US To Give Up On Our Own Middle Class, And Focus On China’s Zero Hedge | China will be ecstatic that the US will now be funding the development of its own middle class. As for ours… Oh well.

The Elites Have Lost the Right to Rule Zero Hedge | When you get too many people of a particular mindset (in this case highly quantitative and academic) to aggregate in a field that is very much a people business and one where “street smart” common sense is of extreme importance you are asking for serious trouble.

Ron Paul: Where Is the Gold? [ As I’ve previously written, I believe that beyond the gold plate, Fort Knox has been looted. ] New American | Congressman Ron Paul revealed that next year at the start of the newly inaugurated 112th United States Congress, he would introduce a new bill to audit the U.S. gold reserves.

Ron Paul: ‘There Might Not Be Any Gold In Fort Knox’ Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it’s “a possibility” that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.

Obama’s Department of Justice Puts Out Master Patriot Hit-list The word constitutionalist is now shorthand for the sovereign citizen movement, in other words people who support the Constitution and the Bill of Rights are violent cop killers.

Government Think Tank Calls For Infiltrating Conspiracy Websites Furious that state involvement in major terror attacks is being exposed to a wider audience than ever before via the Internet, a UK think tank closely affiliated with the Downing Street has called for authorities to infiltrate conspiracy websites in an effort to “increase trust in the government”.

The Death Of Cash? All Over The World Governments Are Banning Large Cash Transactions Legislation currently pending in the Mexican legislature would ban a vast array of large cash transactions, but the truth is that Mexico is far from alone in trying to restrict cash. All over the world, governments are either placing stringent reporting requirements on large cash transactions or they are banning them altogether.

Two Men Held On Terrorism Precrime Charges as Anti-Muslim Hysteria Reaches Fevered Pitch Kurt Nimmo | The arrest of two men in Amsterdam on “preparation of a terror attack” charges could not have come at a more opportune time.

‘Vaccine Deaths’ Reaches Top of Google Trends Matt Ryan | Alex Jones would like to commend and thank everyone for their continued support in the InfoWar.

Vaccine Deaths And Injuries Skyrocket As Cover-Up Implodes Paul Joseph Watson | Global revolt against deadly vaccines spreads as cases of debilitating illnesses, soft-kill side-effects and even instant deaths become widespread

Flu Vaccine Propaganda Fails, Readers Awake to the Truth Matt Ryan | The Kansas City Star published an article stating that the new flu vaccines are available and that everyone should get one.

Report: Israel planning to attack Hezbollah arms depots in Syria Israel is planning to attack Hezbollah arms depots and weapons manufacturing plants in Syria, the Kuwaiti newspaper Al Rai reported on Saturday. The report is based on Western sources who asserted that Israel has increased its military force level along the northern border in the Golan Heights and Mount Dov areas.

USS Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney, decorated war hero and survivor of Israel’s premeditated attack on the USS Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened by a foreign national claiming to work for the government of Israel.

EU Popularity Plunges Right Across the Bloc People’s confidence in the the European Union has dropped to record lows in most countries amid a placid response to the rising unemployment and the troubles of the eurozone, a Eurobarometer published on Thursday shows.

China’s Central Bank Chief Rumored To Have Defected Rumors have circulated in China that People’s Bank of China Gov. Zhou Xiaochuan has left the country. The rumors appear to have started following reports on Aug. 28 which cited Ming Pao, a Hong Kong-based news agency, saying that because of an approximately $430 billion loss on U.S. Treasury bonds, the Chinese government may punish some individuals within the PBOC, including Zhou.

Drudgereport: `Ron Paul questions whether there's gold at Fort Knox, NY Fed...`

`Dow Falls 140 Points; Banks, Industrials Slide...`
`1 OUT OF 6 TAKE GOV'T AID... Homelessness Up 50% In New York City... OBAMA BLAMES BUSH AGAIN FOR ECONOMY … [ bush (et als) does deserve blame but with flawed pro-fraudulent wall street among other non-policies and continued nation-bankrupting war, wobama is a distinction without a difference and has bought it and can no longer shirk responsibility with the blame game ] ... Iran state media call French first lady prostitute...`

`EDUCATION SEC URGED STAFF: GO TO SHARPTON RALLY`

8-27-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

We’re Already In Recession [actually a depression] Harding ‘‘First let’s look at the trend. After an unusual four straight quarters of negative growth in the severe 2008-2009 recession, the recession ended in the September quarter of last year when GDP managed fragile growth of 1.6% for the quarter, and then improved to 5.0% growth in the December quarter.It was understood that much of that growth was temporary, fueled by government spending, and spending by consumers provided with government bonuses and rebates, as well as temporary rebuilding of inventories by businesses. But it was expected that with that jumpstart the recovery could continue on its own legs.So, it was a bit of a surprise when GDP growth slowed to 3.7% in the March quarter of this year while those programs were still having an influence. But economists still expected the economy would grow at a 3% pace in the June quarter even with those programs winding down, and for the rest of the year.So, it was a real disappointment when second quarter growth was reported a month ago as having been only 2.4%. Plus, when additional data became available for May and June, the last two months of the second quarter, and those reports were increasingly negative, economists predicted that Q2 GDP growth would be revised down to only 1.3%.On Friday, the revision was released, and it showed growth last quarter slowed significantly, but only to 1.6%, not as bad as the latest forecast.The media and the stock market, starving for good news–and with the market short-term oversold after being down 10 of the previous 13 days–took it as a positive. But let’s get real.The issue is not whether economists got their forecast right or wrong, but the degree to which economic growth is slowing. And a trend of 5% growth in the December quarter, followed by a 1.3% decline to 3.7% growth in the March quarter, followed by a 2.1% decline to 1.6% growth in the March quarter is a chilling rate of decline.Now factor in that economic reports so far for July and August, the first two months of the third quarter, have been significantly worse than those of May and June, and significantly worse than economists’ forecasts, with the relapse pretty much across the board; in the housing industry, manufacturing, retail sales, consumer and business confidence, the decline in U.S. exports, and so on.It’s not a stretch then to think that economic growth is declining by another increment of more than 1.6% this quarter, which would have it in negative territory, already in recession.In his speech Friday morning at the annual economic symposium in Jackson Hole, Wyoming, Fed Chairman Bernanke, while saying he still expects the economy to grow in the second half “albeit at a relatively modest pace” did not put forth a very convincing argument, using such phrases as “painfully slow recovery in the labor market”. . . “economic projections are inherently uncertain”. . . . “the economy is vulnerable to unexpected developments” . . . “the recovery is less vigorous than we expected.”Nor did he seem confident that the Fed’s depleted arsenal of tools to re-stimulate the economy would be effective if needed. Two of the four possible actions he mentioned seemed to suggest consumers and markets could be fooled into confidence with mere talk.His brief list of four possible actions were, “1) conducting additional purchases of longer-term securities [bonds and mortgage-related securities]; 2) modifying the Fed’s FOMC meeting communications to investors; 3) reducing the interest the Fed pays banks on their excess reserves. And I will also comment of a fourth strategy, proposed by several economists- namely, that the Fed increase its inflation goals.”Providing details on two of the four possible actions, he said, “The Fed’s current statement after its FOMC meetings reflects the FOMC’s anticipation that exceptionally low interest rates will be warranted ‘for an extended period’ . . . A step the Committee could consider if conditions called for it, would be to modify the language to communicate to investors that it anticipates keeping the target for the federal funds rate low for a longer period of time.”As for the fourth possible action in his list of four, he said the Fed could alter the phrases it uses to communicate its goals for inflation by “increasing its medium-term inflation goals above levels consistent with price stability.”That’s scary stuff if those are two of the four actions the Fed sees as its best options to re-stimulate the economy.Also of concern, in its report revising Q2 GDP growth down to just 1.6%, the Commerce Department reported that corporate earnings declined significantly in the second quarter, after-tax earnings rising just 0.1%, compared to the gain of 11.4% in the first quarter. Meanwhile, Wall Street continues to ratchet up its earnings estimates.On the positive side, consumer spending, which accounts for 70% of the economy, rose 2% in the second quarter, compared to 1.9% in the first quarter. But the bad news is that the reports since, on consumer confidence and retail sales in July and August, have been big disappointments.Putting it all together, don’t be surprised if a couple of months down the road we learn the economy was already in recession in the current quarter.’

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable … How did this escape mainstream … this is very big news though not new news but would be newly reported news which smart people knew was news before this news was even reported as news on the Drudge news web site … they deserved this redundancy for which there is no excuse in not covering ...`

Cramer Gets It Wrong With “Mass Panic” GDP Forecast [To the contrary, among the few times cramer got it right … I mean, come on … you don’t think that initial number and now this better than all forecasts is correct … one couldn’t be that dumb. ] Paul Joseph Watson | CNBC host predicts gross domestic product to shrink to an alarming 0.5 per cent.

Previously reported economic growth, upon which hundreds of rally ‘points’ were predicated, revised down by 50% of the actual 1.6%. This is typical but no small laughing matter which bespeaks the wayward ways of wall street that got us to this debacle which also includes defacto bankruptcy of the nation. So, GDP down, consumer confidence down, and stocks rally like no tomorrow (which is the fraudulent wall street time horizon … they’ll just commission on the way down). Am I missing something here, particularly when a more sobering view from a rational player, INTEL, is far more credible. One former fed chair likened no-recession-helicopter ben bernanke’s factually deficient, empty words to ‘a doctor telling a patient he’s not sure of what the problem is (that economic uncertainty thing he referenced), but if his leg gets worse he can always amputate.’Previously, as pertains to the jackson hole no-recession-helicopter-ben b* s* non-event / talk. Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

China is Unloading its Treasury Bonds Oil Price | It looks like the smart money these days is found in China.

Collapse Survival Will Be Tribal: Begin Recruiting Now Human World Order | The controllers are orchestrating the collapse of the American economy and society right now, albeit in slow motion, but it is already crumbling.

10 Leading Retailers Close Stores Mish’s Global Economic Trend Analysis | Signs of weak consumer discretionary spending are popping up in multiple places.

U.S. Postal Service Starts Quoting SDR to Dollar Conversion Rates, and IMF Endorses Replacing Dollars with SDRs I have repeatedly pointed out that it is possible that the IMF’s special drawing rights (SDRs) will become the world’s reserve currency. And as I noted in April 2009, there is some possibility that the “Bancor” will ultimately fill that role.

Why Are Home Sales Plummeting? On the surface, it is because the government’s tax-credit for first-time home buyers lapsed in April. It takes a couple of months lag-time between buyer purchase decisions and the actual close of escrow, and so the expiration of the tax-credit is just now hammering the market.

Bearish Sentiment Officially Reaching Fever Pitch Friday promises to be a huge day (at least in the early going) with both the Fed and the Q2 GDP revisions potentially giving investors more reasons to panic. The questions: is panic hitting peak levels?

U.S. Stock Market T. Rowe Price: Week Ended August 27, 2010 Stock prices declined overall for the week, although small-caps managed a modest gain. Markets declined to multi-week lows on Tuesday when the National Association of Realtors reported that existing home sales had declined 27% in July. The steeper-than-expected drop raised fears that a "double dip" in the housing sector—now that homebuyer tax incentives have ended—might drag the broader economy back into recession as well. Investors also responded to sharp drops in overseas markets brought about by a rise in the yen, which promised to further weaken the export-driven Japanese economy, as well as a downgrade in Ireland's sovereign credit rating. The bad news on the housing sector was buttressed Wednesday when the government announced that new home construction had fallen to its lowest level on record in July. The government also reported that durable goods orders had declined 3.8% during the month once the volatile transportation category was removed. Better economic news arrived Thursday when the Labor Department reported a sharp drop in weekly jobless claims. Investors continued to drive stock prices lower, however, perhaps in response to a report showing a decline in manufacturing activity in the Kansas City region. Markets regained some momentum on Friday when Federal Reserve Chairman Bernanke announced in a speech that the central bank "will do all that it can" to ensure the economic recovery continues. Sentiment may have also gotten a boost from the Commerce Department's revised estimate of economic growth in the second quarter. While the estimate was revised lower, from an annualized growth rate of 2.4% to 1.6%, the decline was not as great as some had feared.

U.S. Stocks¹

Index²

Friday's Close

Week's Change

% Change
Year-to-Date

DJIA

10150.65

-62.97

-2.66%

S&P 500

1064.59

-7.10

-4.53%

NASDAQ Composite

2153.63

-26.13

-5.09%

S&P MidCap 400

734.30

-2.22

1.05%

Russell 2000

617.08

6.41

-2.68%

`Drudgereport: Analyst: CITIGROUP 'Cooking the Books'...`
`Banks back switch to renminbi for trade; Incentives to move from dollar and euro... THE SPEECH: Bernanke under pressure to prop it up...'RECOVERY SUMMER' ENDS SICK`
`GDP REVISION: 1.6%`
`Says recovery softer, Fed prepared to buy more...`
`Weaker GDP raises stakes...`
`WIRE: What Biden didn't mention on stimulus...`
`ZUCKERMAN: The Most Fiscally Irresponsible Government in History … along with bushes’...`
`Joint Chiefs Chairman: National Debt is a Security Threat...`
`Recession pushes US birth rate to new low...`
`RECOVERY BUMMER: Youth employment lowest since 1948...`
`Thousands line up before dawn for mortgage help in Palm Beach County...`

Report on Fannie, Freddie gives new theory for collapse (Washington Post) Since ‘it’s always something’, time to contact Rosanne Rosanna Danna to straighten this out! Tiny tim geithner, God bless us everyone, ‘has also pointed to the weight of souring guaranteed loans as a source for the companies' troubles. …Riiiiight! Guarantee’s are the thing! … Rosanne Rosanna Danna, formerly of SNL fame needs to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds and what their frauds are on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Flow of imports drags down economic growth (Washington Post) [Ah, eureka! So that’s what did it! Nothing to do with transferring productive capability overseas / elsewhere as warned against by Ross Perot and celebrated by those long-term thinking frauds on wall street. Well, we still have the worthless paper to move around and commission as warned against by Morita of Sony fame.]

Chossudovsky: China could already be world’s largest economy

Stocks slip as caution about the economy returns Associated Press (Washington Post) [Caution? Is that what they’re calling reality these days? ] Stocks fell Thursday after early gains from a better report on jobless claims faded in late trading, sending the Dow Jones industrial average to its first close below 10,000 since early July.

Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of the U.S. Courts recently reported that bankruptcy filings between April and June hit a four-year high. Consumer bankruptcies rose 21 percent while business bankruptcies increased eight percent. The list of corporate bankruptcies over the last couple of years includes big names like Lehman Brothers, Washington Mutual, and GM. And financial institutions like Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo** (NYSE: WFC) received billions of dollars through the federal government's Troubled Asset Relief Program. Should investors add the U.S. government to that list of big name bankruptcies? I recently asked Boston University economics professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking.
**Mac Greer: Larry, I noticed the headline or the title of a recent article that you wrote, US is Bankrupt and We Don't Even Know It. So with that in mind, what is your take on the economy these days?
Larry Kotlikoff: Well there is a lot of uncertainty, as rightfully there should be. We have seen the financial sector implode basically because of the systematic production and sale of trillions of dollars of fraudulent securities under the cover of proprietary information, so nobody really had the ability to look inside big companies like Bear Sterns or Merrill Lynch to see exactly what they owned or owed. That problem remains today, even with the passage of Dodd-Frank. There is no requirement that the financial industry come clean with respect to what it is doing with our money, so every major financial player says you can't see what we are doing because we have the Midas touch. We are going to beat the market, and if we show you, everybody will see our secret formula for making you a mint. As a result, they have a great cover to produce fraudulent securities. And then when there is a sniff of fraud, one can easily presume that everything they are doing is fraudulent, which may not at all be the case. And then there is a run against those institutions as we saw with Bear Sterns and Lehman Brothers and all the other ones because of the perception that so much of their holdings were fraudulent and that their reporting was fraudulent. And of course the rating companies and the regulators and the boards of directors and the members of Congress were all, in effect, in bed with each other to achieve this result. I don't see anything that has fundamentally changed, so that is one major area of fragility. We could have another meltdown in the financial market tomorrow because as Dick Fuld [Lehman former CEO] said, he claims that their balance sheet was just fine and that this was all just a panic, it was not connected with any facts. Well, he said that every institution on Wall Street --- Goldman Sachs (NYSE: GS), JP Morgan (NYSE: JPM) -- could have experienced the same thing. His concern about this happening to other companies is well taken. So we have a financial system that is set up to fail again, and we have a fiscal situation which is a complete and dire mess. It could lead to a financial panic that could lead to a much bigger meltdown of the financial system than we have seen.
Greer: Is the U.S. bankrupt?
Kotlikoff: Bankruptcy means not being able to pay your future bills. If you can't pay your current bills, your creditors are already after you so you already are bankrupt. If you can't pay your future bills, that really is the operational definition of going bankrupt or being bankrupt. The U.S. government can't pay its future bills. These bills, in total, in present value, exceed the revenues by $202 trillion. This is based on taking the data projected by CBO (Congressional Budget Office) back on June 26 of this year, when they put out their alternative fiscal scenario, which is their best long-term projection of government spending, including servicing the official debt, and government revenues. And if you present value the differential between spending and revenues, including extrapolating beyond their projection which is important to do, you get a fiscal gap of $202 trillion. To come up with $202 trillion in present value, you'd have to immediately and permanently double all taxes we have. You'd have to do it immediately. We're talking here about running a 5% GDP surplus this year instead of running a 9% deficit. So I don't see that happening. We have to cut spending or we have to print money. Either way you're cutting spending so either way you're, in effect, reining in spending promises. And that suits my definition of bankruptcy. And I think there are ways of cutting spending and getting our fiscal house in order but we need to engage in radical surgery here and not putting on the band-aid that this administration is so fond of.
Greer: One of our Motley Fool writers recently interviewed Euro Pacific Capital President Peter Schiff. In 2006, he was predicting the economic downturn, and he now says that we are, "In the early stages of a depression now. It is going to be a horrific experience for average Americans who are going to watch their standard of living plunge." Do you agree?
Kotlikoff: Well, this has been a depression so far for millions of Americans. It didn't have to happen. It is really man-made. We have the same physical capital and human capital sitting here in place. We don't have to stay in a depressed state. The problem is that things are not coordinated. We don't have buyers optimistic about getting paid salaries and we don't have sellers optimistic about being able to find buyers, so everybody is kind of sitting on their hands. We can have some, a bunch of KISS's, which are "keep it simple, stupid" solutions to our problems, and lots of people throughout the country realize this, that we need to fix things fundamentally. We can't do it with 2,000 page bills that make bureaucratic structures that are basically clogging up our economic arteries, even more bureaucratic…

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse The Economic Collapse | Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon.

America’s Debt: The BIG Wave Damien Hoffman | This, my friends, is only the tip of the iceberg of what will unfold should we choose to kick the proverbial can farther down the road.

S&P Says US Should Act to Protect AAA-Rating: Report The United States government needs to take steps to preserve its top AAA-rating, a Standard & Poor’s Ratings (S&P) official told Dow Jones newswire in an interview published on Thursday.

It pays to riot in Europe Dublin has played by the book. It has taken pre-emptive steps to please the markets and the EU. It has done an IMF job without the IMF. Indeed, is has gone further than the IMF would have dared to go.

The Economy When Debt Is Everywhere As a result of austerity, imposed on Greece by its Illuminist led government, unemployment has hit 70% in some places. The country’s budget deficit has been reduced by 40%, truly draconian. Spending by government has been cut 10%, which is more than double what the EU and IMF has required.

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon, but a growing minority of Americans are starting to realize that things are fundamentally changing and that they better start preparing for what is ahead.

China Buys Euros as Fear of World Depression Grows Webster G. Tarpley | The one certainty is that there is no recovery, and that the second wave of a world economic depression dominates the world.

Economy Caught in Depression, Not Recession: Rosenberg Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. ‘Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”**

Op-Ed Columnist - The Third Depression - NYTimes.com Economic Policy: Nobel Prize-winning economist Paul Krugman says the US is in the "early stages of a third Great Depression. The Third Depression By PAUL KRUGMAN Published: June 27, 2010 ‘Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31. Neither the Long Depression of the 19th century nor the Great Depression of the 20th was an era of nonstop decline — on the contrary, both included periods when the economy grew. But these episodes of improvement were never enough to undo the damage from the initial slump, and were followed by relapses. We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. And this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending. In 2008 and 2009, it seemed as if we might have learned from history. Unlike their predecessors, who raised interest rates in the face of financial crisis, the current leaders of the Federal Reserve and the European Central Bank slashed rates and moved to support credit markets. Unlike governments of the past, which tried to balance budgets in the face of a plunging economy, today’s governments allowed deficits to rise. And better policies helped the world avoid complete collapse: the recession brought on by the financial crisis arguably ended last summer. But future historians will tell us that this wasn’t the end of the third depression, just as the business upturn that began in 1933 wasn’t the end of the Great Depression. After all, unemployment — especially long-term unemployment — remains at levels that would have been considered catastrophic not long ago, and shows no sign of coming down rapidly. And both the United States and Europe are well on their way toward Japan-style deflationary traps …’

8-26-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of the U.S. Courts recently reported that bankruptcy filings between April and June hit a four-year high. Consumer bankruptcies rose 21 percent while business bankruptcies increased eight percent. The list of corporate bankruptcies over the last couple of years includes big names like Lehman Brothers, Washington Mutual, and GM. And financial institutions like Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC) received billions of dollars through the federal government's Troubled Asset Relief Program. Should investors add the U.S. government to that list of big name bankruptcies? I recently asked Boston University economics professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking.
**Mac Greer: Larry, I noticed the headline or the title of a recent article that you wrote, US is Bankrupt and We Don't Even Know It. So with that in mind, what is your take on the economy these days?
Larry Kotlikoff: Well there is a lot of uncertainty, as rightfully there should be. We have seen the financial sector implode basically because of the systematic production and sale of trillions of dollars of fraudulent securities under the cover of proprietary information, so nobody really had the ability to look inside big companies like Bear Sterns or Merrill Lynch to see exactly what they owned or owed. That problem remains today, even with the passage of Dodd-Frank. There is no requirement that the financial industry come clean with respect to what it is doing with our money, so every major financial player says you can't see what we are doing because we have the Midas touch. We are going to beat the market, and if we show you, everybody will see our secret formula for making you a mint. As a result, they have a great cover to produce fraudulent securities. And then when there is a sniff of fraud, one can easily presume that everything they are doing is fraudulent, which may not at all be the case. And then there is a run against those institutions as we saw with Bear Sterns and Lehman Brothers and all the other ones because of the perception that so much of their holdings were fraudulent and that their reporting was fraudulent. And of course the rating companies and the regulators and the boards of directors and the members of Congress were all, in effect, in bed with each other to achieve this result. I don't see anything that has fundamentally changed, so that is one major area of fragility. We could have another meltdown in the financial market tomorrow because as Dick Fuld [Lehman former CEO] said, he claims that their balance sheet was just fine and that this was all just a panic, it was not connected with any facts. Well, he said that every institution on Wall Street --- Goldman Sachs (NYSE: GS), JP Morgan (NYSE: JPM) -- could have experienced the same thing. His concern about this happening to other companies is well taken. So we have a financial system that is set up to fail again, and we have a fiscal situation which is a complete and dire mess. It could lead to a financial panic that could lead to a much bigger meltdown of the financial system than we have seen.
Greer: Is the U.S. bankrupt?
Kotlikoff: Bankruptcy means not being able to pay your future bills. If you can't pay your current bills, your creditors are already after you so you already are bankrupt. If you can't pay your future bills, that really is the operational definition of going bankrupt or being bankrupt. The U.S. government can't pay its future bills. These bills, in total, in present value, exceed the revenues by $202 trillion. This is based on taking the data projected by CBO (Congressional Budget Office) back on June 26 of this year, when they put out their alternative fiscal scenario, which is their best long-term projection of government spending, including servicing the official debt, and government revenues. And if you present value the differential between spending and revenues, including extrapolating beyond their projection which is important to do, you get a fiscal gap of $202 trillion. To come up with $202 trillion in present value, you'd have to immediately and permanently double all taxes we have. You'd have to do it immediately. We're talking here about running a 5% GDP surplus this year instead of running a 9% deficit. So I don't see that happening. We have to cut spending or we have to print money. Either way you're cutting spending so either way you're, in effect, reining in spending promises. And that suits my definition of bankruptcy. And I think there are ways of cutting spending and getting our fiscal house in order but we need to engage in radical surgery here and not putting on the band-aid that this administration is so fond of.
Greer: One of our Motley Fool writers recently interviewed Euro Pacific Capital President Peter Schiff. In 2006, he was predicting the economic downturn, and he now says that we are, "In the early stages of a depression now. It is going to be a horrific experience for average Americans who are going to watch their standard of living plunge." Do you agree?
Kotlikoff: Well, this has been a depression so far for millions of Americans. It didn't have to happen. It is really man-made. We have the same physical capital and human capital sitting here in place. We don't have to stay in a depressed state. The problem is that things are not coordinated. We don't have buyers optimistic about getting paid salaries and we don't have sellers optimistic about being able to find buyers, so everybody is kind of sitting on their hands. We can have some, a bunch of KISS's, which are "keep it simple, stupid" solutions to our problems, and lots of people throughout the country realize this, that we need to fix things fundamentally. We can't do it with 2,000 page bills that make bureaucratic structures that are basically clogging up our economic arteries, even more bureaucratic…

Bulls: 'This Is Where We Fight' - Dave's Daily Critical levels of support were broken Thursday for the Dow Industrials 30 (10K, psychological) and S&P 500 (1050). There's a day left in the week when GDP and Confidence data will be delivered and Bernanke will speak. This makes tomorrow's action (notwithstanding a possible Fed surprise before the open Monday) where bulls must fight to hold things together. It's getting that serious. Jobless Claims were better than forecast but through it all they're still just crawling along the ocean floor. But, it gave bulls a headline to boost things early only to see conviction fade later as selling took hold. The Fed also launched another POMO of only $1.4 billion which gave Primary Dealers some cash to work with. What's the point? The Treasury sells and the Fed buys--a silly Keynesian Ponzi Scheme that accomplishes what? …

Stocks Drop as Economic Worries Dog Market   Midnight Trader 4:26 PM, Aug 26, 2010 --

DJIA down 74 (-0.7%) to 9,986

S&P 500 down 8 (-0.7%) to 1,047

Nasdaq down 22.9 (-1%) to 2,119

GLOBAL SENTIMENT

Hang Seng down 0.11%

Nikkei up 0.69%

FTSE up 0.91%

UPSIDE MOVERS
(+) F details expansion in India, Thailand.
(+) BOBE hikes dividend.
(+) BW gets analyst upgrade.
(+) MNTA gets favorable judge ruling in Sanofi-Aventis case.
(+) ALXA getting payment related to Staccato license.
(+) NFLX app now on iPhone, iPod Touch.
(+) PAYX upgraded.

DOWNSIDE MOVERS
(-) GES extending evening declines that followed mixed guidance, earnings beat.
(-) APWR misses revenue expectations, backs guidance.
(-) SCON prices shares.
(-) FRED reports Q2 results that top the year-ago quarter, match expectations.
(-) PAR gains then falls amid Dell's (DELL) increased $24.30 per share offer.
(-) GIGM swings to loss.
(-) TRMA files bankruptcy.

MARKET DIRECTION
Stocks end lower as the major indexes give up early-session gains. Investors were initially charged, following favorable jobless claims data, but couldn't shake bearish concerns that have bedeviled the market over the past couple of weeks.
Stocks were buoyed by a decline in the number of people filing first-time claims for unemployment benefits by 31,000 to 473,000 in the latest week. It was the first decline in a month, according to Labor Department data. Economists surveyed by MarketWatch had expected initial claims to drop to 490,000 in the week ended Aug 21.
The less-volatile four-week average of initial claims rose 3,250 to 486,750. Altogether, 10.2 million people were collecting some type of unemployment benefits in the week ended Aug. 7, up from 9.9 million.
Also, mortgage rates continued to skid, falling to 4.36% this week, the lowest rate on a 30-year fixed loan in decades, according to Freddie Mac. The rate was 4.42% last week and has now declined for nine of the last 10 weeks.
Deal news dominated the tape, and topping the headlines, 3PAR (PAR) accepted Dell's (DELL) increased offer to acquire the storage leader for $24.30 per share in cash, or approximately $1.6 billion, net of PAR's cash. The deal is expected to close before the end of the year. Based on current estimates, the transaction is expected to be accretive to DELL's non-GAAP earnings by its Fiscal Year 2012.
After the bell, H-P (HPQ) countered with a revised $27 a share bid.
Cisco Systems (CSCO) is buying privately held ExtendMedia for an undisclosed sum. ExtendMedia will become a core component of Cisco's next-generation video architecture, the company said. The transaction is expected to close in the first half of Cisco's fiscal 2011.
Hewlett-Packard (HPQ) will pay an undisclosed sum to buy Stratavia, a privately held database technology company based in Denver. H-P says the acquisition will strengthen the HP Software and Solutions portfolio, adding deployment, configuration and management solutions for enterprise databases, middleware and packaged applications.
Lastly, Novartis (NVS) is moving ahead with a contentious buyout of Alcon (ACL) after completing its acquisition of stock from Nestle, according to a Reuters report.

Previously, as pertains to the jackson hole no-recession-helicopter-ben b* s* non-event / talk. Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse The Economic Collapse | Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon.

America’s Debt: The BIG Wave Damien Hoffman | This, my friends, is only the tip of the iceberg of what will unfold should we choose to kick the proverbial can farther down the road.

S&P Says US Should Act to Protect AAA-Rating: Report The United States government needs to take steps to preserve its top AAA-rating, a Standard & Poor’s Ratings (S&P) official told Dow Jones newswire in an interview published on Thursday.

It pays to riot in Europe Dublin has played by the book. It has taken pre-emptive steps to please the markets and the EU. It has done an IMF job without the IMF. Indeed, is has gone further than the IMF would have dared to go.

The Economy When Debt Is Everywhere As a result of austerity, imposed on Greece by its Illuminist led government, unemployment has hit 70% in some places. The country’s budget deficit has been reduced by 40%, truly draconian. Spending by government has been cut 10%, which is more than double what the EU and IMF has required.

10 Practical Steps That You Can Take To Insulate Yourself (At Least Somewhat) From The Coming Economic Collapse Most Americans are still operating under the delusion that this “recession” will end and that the “good times” will return soon, but a growing minority of Americans are starting to realize that things are fundamentally changing and that they better start preparing for what is ahead.

China Buys Euros as Fear of World Depression Grows Webster G. Tarpley | The one certainty is that there is no recovery, and that the second wave of a world economic depression dominates the world.

Economy Caught in Depression, Not Recession: Rosenberg Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. ‘Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”**

Op-Ed Columnist - The Third Depression - NYTimes.com Economic Policy: Nobel Prize-winning economist Paul Krugman says the US is in the "early stages of a third Great Depression. The Third Depression By PAUL KRUGMAN Published: June 27, 2010 ‘Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31. Neither the Long Depression of the 19th century nor the Great Depression of the 20th was an era of nonstop decline — on the contrary, both included periods when the economy grew. But these episodes of improvement were never enough to undo the damage from the initial slump, and were followed by relapses. We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. And this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending. In 2008 and 2009, it seemed as if we might have learned from history. Unlike their predecessors, who raised interest rates in the face of financial crisis, the current leaders of the Federal Reserve and the European Central Bank slashed rates and moved to support credit markets. Unlike governments of the past, which tried to balance budgets in the face of a plunging economy, today’s governments allowed deficits to rise. And better policies helped the world avoid complete collapse: the recession brought on by the financial crisis arguably ended last summer. But future historians will tell us that this wasn’t the end of the third depression, just as the business upturn that began in 1933 wasn’t the end of the Great Depression. After all, unemployment — especially long-term unemployment — remains at levels that would have been considered catastrophic not long ago, and shows no sign of coming down rapidly. And both the United States and Europe are well on their way toward Japan-style deflationary traps …’

Worse than expected news on both durables and new home sales. Indeed, in this and the prior session the ‘new homeseller stocks’ rose based on the foisted false expectation of expected-to-better as opposed to, among other, far worse than expected results. Yet, where / when was the worse than expected news discounted. The fact is that it wasn’t, as fraudulent wall street with one of those typical press the button, computerized program trade days, rallies to try to suck the suckers back in to keep their ‘churn and earn’ rollin’. Note the typical, almost tauntingly gleeful mainstream non-news headline, ‘US stocks pull off a gain; Dow ends above 10,000 (at CNBC)’ … Riiiiight! … They pulled it off … How pathetic! Democrats move to shore up faltering economic recovery (Washington Post) [ Wow! And all this time that’s what we thought they were doing. Now they’re gonna’ get serious … riiiiight. Here’s some serious for you:   Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff … : an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]

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 ).

INSIDER TRANSACTIONS (Washington Post) Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can! ]

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable... Roubini: Growth to Be 'Well Below' 1% ...`
`New Home Sales Sink to Lowest Pace on Record... Banks back switch to renminbi for trade; Incentives to move from dollar and euro... DEM JOKES: PELOSI COULD DIE BEFORE NEXT YEAR Former Republican chairman: I'm gay...`
`President Bush 'incredibly supportive in his cornholin’ efforts'... Bernanke under pressure to prop it up [yeah … with the typical b* s]!`
`Jackson Hole: Speech, Speech...`

Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt Nimmo | Infowars.com readers believe the monetary policies of the Federal Reserve will push the country into another depression.

Even Tony Robbins Is Warning That An Economic Collapse Is Coming It seems like almost everyone is warning of a coming economic collapse these days.

8-25-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Economy Caught in Depression, Not Recession: Rosenberg Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. ‘Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”

Op-Ed Columnist - The Third Depression* - NYTimes.com Economic Policy: Nobel Prize-winning economist Paul Krugman says the US is in the "early stages of a third Great Depression. The Third Depression By PAUL KRUGMAN Published: June 27, 2010 ‘Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31. Neither the Long Depression of the 19th century nor the Great Depression of the 20th was an era of nonstop decline — on the contrary, both included periods when the economy grew. But these episodes of improvement were never enough to undo the damage from the initial slump, and were followed by relapses. We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. And this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending. In 2008 and 2009, it seemed as if we might have learned from history. Unlike their predecessors, who raised interest rates in the face of financial crisis, the current leaders of the Federal Reserve and the European Central Bank slashed rates and moved to support credit markets. Unlike governments of the past, which tried to balance budgets in the face of a plunging economy, today’s governments allowed deficits to rise. And better policies helped the world avoid complete collapse: the recession brought on by the financial crisis arguably ended last summer. But future historians will tell us that this wasn’t the end of the third depression, just as the business upturn that began in 1933 wasn’t the end of the Great Depression. After all, unemployment — especially long-term unemployment — remains at levels that would have been considered catastrophic not long ago, and shows no sign of coming down rapidly. And both the United States and Europe are well on their way toward Japan-style deflationary traps …’

Worse than expected news on both durables and new home sales. Indeed, in this and the prior session the ‘new homeseller stocks’ rose based on the foisted false expectation of expected-to-better as opposed to, among other, far worse than expected results. Yet, where / when was the worse than expected news discounted. The fact is that it wasn’t, as fraudulent wall street with one of those typical press the button, computerized program trade days, rallies to try to suck the suckers back in to keep their ‘churn and earn’ rollin’. Note the typical, almost tauntingly gleeful mainstream non-news headline, ‘US stocks pull off a gain; Dow ends above 10,000 (at CNBC)’ … Riiiiight! … They pulled it off … How pathetic! Democrats move to shore up faltering economic recovery (Washington Post) [ Wow! And all this time that’s what we thought they were doing. Now they’re gonna’ get serious … riiiiight. Here’s some serious for you:   Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.]

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 ).

INSIDER TRANSACTIONS (Washington Post) Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can! ]

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable... Roubini: Growth to Be 'Well Below' 1% ...`
`New Home Sales Sink to Lowest Pace on Record...`

Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt Nimmo | Infowars.com readers believe the monetary policies of the Federal Reserve will push the country into another depression.

Even Tony Robbins Is Warning That An Economic Collapse Is Coming It seems like almost everyone is warning of a coming economic collapse these days.

Why to Expect a Bipolar Market Move Next Week [Well, I don’t know about a diagnosis of bipolar, but ‘criminally insane’; yes, that’s wall street in a nutshell.]

Bond Bubble, Dollar Doom - Embrace The Fear Says Fisher   [ Riiiiight! Sounds like a plan … to bail out the frauds on wall street as they sell their ‘hot potatoes’ in their typical ‘musical chair’ pre-crash charade! ] ‘… Hussman: Dollar Collapse Coming: In his latest market commentary, top fund manager John Hussman continues to express a bearish view, and says that more quantitative easing by the Federal Reserve is likely to trigger “an abrupt collapse in the foreign exchange value of the U.S. dollar”. Hussman offers something of a primer on exchange rates, and concludes by saying this: “The policy of quantitative easing is likely to force a large adjustment on the U.S. dollar because the Federal Reserve is choosing to lay a heavier hand on the Treasury bond market than would result from economic conditions alone,” he says. “The resulting shift in interest rates and long-term inflation prospects combine to dramatically reduce the attractiveness of the U.S. dollar. A significant and relatively abrupt devaluation is then required, in an amount sufficient to set up expectations of a U.S. dollar appreciation over time.” Special Offer: People mocked Gary Shilling when he said SELL in 2006 and 2007. But he was right and his subscribers are richer for it. Click here for Gary Shilling’s current investment advice. As for the market, Hussman says he continues to see unfavorable valuations, unfavorable market action, and unfavorable economic pressures. The Fed’s new go at quantitative easing may well limit deflationary fears, he says, which has led him to increase exposure to precious metals and foreign currencies. Hussman also says the U.S. should focus on restructuring debt, and offers his take on how it should do so …’

Dow Reclaims 10,000 as Stocks Pare Losses CNBC | Stocks opened lower for a fifth straight day Wednesday as disappointing reports on new home sales and durable-goods orders stoked worries about the economic recovery.

Consumers Dropping Pay TV Services Investors.com | The number of subscribers to cable, satellite and telecom TV services in the U.S. fell for the first time ever in the second quarter.

Plunge in Home Sales Stokes Economy Fears Wall Street Journal | U.S. home sales plummeted in July to a level not seen in more than a decade, spurring fears of renewed weakness in housing prices and the broader economy.

Boehner calls for mass firing of Obama's economic team (Washington Post) Yeah! True enough. They should be fired (watch for fake data as a desperate reaction to the reality the fake data’s been hidin’, revisions to fake data which hid reality, etc., ‘cause they’re really desperate); yet where were the same calls for paulsen, bush, et als. The truth is, they all should be fired! Every last fraudulent one of them! All three corrupt branches of the u.s. non-government.

Frank to hold hearing on regulation of Wall St. pay (Washington Post) [ Oooooh! Riiiiight! More hearings … sounds like a plan! You know, max face time, no action, great politics as usual. After all, if they were really serious, prosecutions, jail, fines, and disgorgement for the perps would have happened. Additionally, the so-called fin regs were powder puffs after all the huff and puff and ignore prosecution under already existing laws. What total fraud / b* s! ]

U.S. Financial System Still "Fundamentally Corrupt," Kotlikoff Says: Here's How to Fix It ‘We have a "fundamentally corrupt financial system" and the Dodd-Frank reform bill did nothing to change it, says Boston University economics professor Laurence Kotlikoff. "Relatively little has changed except there are going to be more federal regulators who are probably going to miss major problems." At the core of the 2008 crisis was "the production and sale of trillions of fundamentally fraudulent securities," Kotlikoff says, suggesting all levels of society participated in the fraud -- including homeowners. At the center of it all were financial intermediaries (a.k.a. Wall Street) who packaged and sold "snake oil under the guise of proprietary information" to limit or eliminate disclosure, and enabled by corrupt rating agencies, regulators and elected officials, he says. In the accompanying video, Kotlikoff explains how we can "make Wall Street safe for Main Street." In short, we should transform all financial companies with limited liability (banks, hedge funds, private equity firms and insurance companies alike) into mutual funds, which the professor describes as "little banks that have 100% capital requirements. " Notably, the big mutual fund companies survived the "financial earthquake" of 2008-09 when the rest of the financial system collapsed, Kotlikoff recalls. In late 2009, Kotlikoff and Harvard's Niall Ferguson penned an op-ed for The FT describing a blueprint for how to take moral hazard out of banking. Citing a speech by Bank of England governor Mervyn King, Kotlikoff and Ferguson called for "limited purpose banking" (LPB), that would "limit banks to their legitimate purpose - financial intermediation and payment facilitation." Nine months later, Kotlikoff remains convinced this "very simple reform" remains a much better alternative than the financial reform bill hammered out in Washington - with plenty of influence from Wall Street lobbyists. "We are rebuilding [the system] out of straw rather than out of brick," Kotlikoff says, suggesting his "LPB" proposal will ultimately be good for the economy and provide a model for the rest of the world. "If we have a safe, sound [financial] structure other countries will follow suit," he says.’

How to Get Through This Mess* ‘… U.S. RECESSION NEVER ENDED; GDP TO CONTRACT IN Q3

Hardship 401(k) withdrawals set record in second quarter: More workers also borrowing from their accounts (Washington Post, August 22, 2010) [ Clearly an instance where ‘better late than never’ doesn’t quite do it … ‘better now than late or never’ is a bit better as the following see that old tune, ‘ The Big Hurt’, reaching once again number 1 on the billboard charts. ]

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can!

100-Year Bonds --- Sign of Trouble?

Analyst: Dow To 5,000, Lost Decade For Stocks The Dow Jones Industrial Average will lose about half of its value over the next couple of years as it follows a Nikkei-like pattern of several sharp rallies in an overall decline, according to Charles Nenner, founder and president of Charles Nenner research.

Existing home sales plunge 27% Existing home sales fell sharply in July, declining for a third straight month, as the effects of the expired homebuyer tax credit continued to add turbulence to the housing market.

Hindenburg Omen Creator Has Exited The Market As we reported first, last week saw the second confirmation of the Hindenburg Omen, most recently sighted for the first time on August 12. Presumably this is an indication of putting one’s money where one’s mouth is (and away from the market).

We’re Underperforming The Great Depression In real (inflation/deflation-adjusted) terms, when did the US market permanently regain the high reached in 1929? The first chart illustrates two answers to the question. One uses the real price and the other uses the real total return.

Top Republicans urge Obama to oust economic team Reuters | The top Republican in the U.S. House of Representatives called on Tuesday for President Barack Obama to fire his economic team in a campaign-style speech meant to focus voters on the weak American economy.

Home Sales Plunge to Record Low NY Times | Sales of existing homes plunged 27.2 percent in July, down to their lowest level since the National Association of Realtors began keeping track over a decade ago.

Unemployed group blasts Geithner’s handling of economy The Hill | UCubed, a group representing unemployed and underemployed workers, sharply criticized Treasury Secretary Timothy Geithner for his handling of the economy.

Stocks Plunge, Double Dip Recession Fears Grow After Home Sales Report U.S. stocks extended losses, sending the Dow Jones Industrial Average below 10,000, and the 10-year Treasury yield fell below 2.5 percent for the first time since 2009 as a bigger-than-estimated slump in existing home sales fueled concern the economy may relapse into recession.

Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt Nimmo | Infowars.com readers believe the monetary policies of the Federal Reserve will push the country into another depression.

Even Tony Robbins Is Warning That An Economic Collapse Is Coming It seems like almost everyone is warning of a coming economic collapse these days.

Alex Jones Exposes Google’s Plan to Dominate the Internet Infowars.com | Google’s takeover agenda will control the world wide web and force independent media websites, radio and TV shows out of existence for good.

Ron Paul: Let the Housing Market Normalize! Dr. Ron Paul | There seems to be a growing consensus in favor of abolishing Fannie and Freddie. This is the good news.

Americans Using Their Rainy Day Savings to Live Rebel Traders | The reality of the ‘real economy’, as measured by people, not Wall Street, is a deteriorating economy where any source of funds is fair game to be tapped into.

The Never Ending Recession Mr. Rosenberg believes we could see a negative GDP print THIS quarter. And if he’s right that means analysts are far too optimistic about the upcoming quarter.

Economic forecaster: ‘Greatest Depression’ coming Collapse of middle class means there’s no fuel for recovery, Gerald Celente argues.

National / World:

Former FBI Agent Reveals New Angle On Kennedy Assassination [bush, typically, was involved up to his eyeballs, and ‘knuck’ (knucklehead not-to-bright ford) the typical go along to get along. ]‘… Despite the threat and possibility of a conspiracy to assassinate the president, the FBI and Secret Service allowed Kennedy to travel to Dallas. “[They] should have stopped the President from traveling instantly,” said Adams. “You thought I was kidding when I said he would be killed from a window with a high powered rifle,” a “jubilant” Milteer” told the informant following the murder. Adams points out that Milteer was in Dallas on the day of the assassination and has a photograph to prove it. In the photo, Milteer stands near the presidential limousine prior to the shooting. Adams notes this fact was not mentioned in the Warren Commission report. Other, more well-known personages were also photographed in Dealy Plaza on that fateful day, in particular George Bush Senior. The future CIA director and president was photographed standing outside the Texas Book Depository building where it was said Oswald single-handedly shot the president from the sixth floor. Gerald Ford appointed Bush to head-up the agency when the House Select Committee on Assassinations was investigating CIA-FBI links to the murders of John F. Kennedy, Martin Luther King and Robert Kennedy. During Gerald Ford’s funeral in 2007, the elder Bush attacked theories straying from the official version. “After a deluded gunman assassinated President Kennedy, our nation turned to Gerald Ford and a select handful of others to make sense of that madness,” said Bush. “And the conspiracy theorists can say what they will, but the Warren Commission report will always have the final definitive say on this tragic matter. Why? Because Jerry Ford put his name on it and Jerry Ford’s word was always good.” After Adams told the FBI he believed it was impossible for Oswald to have fired three shots with a bolt-action rifle in seven-and-a-half seconds while taking aim through a scope, he was warned by his superiors not to pursue his findings. “Don, be careful what you say and how you say it,” an agent told him. Mr. Adams’ assertions contribute to a huge body of evidence revealing that Kennedy was not murdered by Oswald in the fashion described by the government…’

Finland Suspends Swine Flu Shots After Vaccine Linked With Neurological Disorder Paul Joseph Watson | Finland’s National Institute for Health and Welfare (THL) has suspended the use of the H1N1 vaccine over fears that the shot is linked with narcolepsy.

U.S. Court Rules That Government Can Secretly Track You With GPS, Privacy is For Rich People Only Steve Watson | TIME magazine casually admits that it is now perfectly legal in nine states for the government to attach secret satellite tracking devices to your car and monitor you wherever you go, without a search warrant.

CNN: Opposition to Government, Bankers is Criminal Kurt Nimmo | The sovereign citizen movement is considered a direct and dangerous threat by the government because it rejects out of hand its authority.

Alex Jones: Government Wants to Control Your Music Infowars.com | Alex covers the hysteria over “i-dosing” and the ultimate plan by government to control our minds and emotions.

Megalomaniacs Push For Orwellian “Safe” City, Controlled Internet Biometrics R&D firm Global Rainmakers Inc. recently unveiled a plan to place iris scanners and other tracking devices in what they toted as the “most secure” city in the world.

Study: Oil spill cleanup workers suffered chromosome damage, respiratory issues Spanish fishermen who took part in a clean-up operation after the Prestige oil tanker spill in 2002 have shown symptoms of chromosomal damage and respiratory problems, a study released Tuesday said.

4th Amendment Violating Mobile X-Ray Scanners Hit The Streets As we warned at the beginning of the year, X-ray body scanners currently being used and abused in airports across the world are set to hit the streets as American Science & Engineering reveals that “more than 500 backscatter x-ray scanners mounted in vans that can be driven past neighboring vehicles to see their contents” have been sold to government agencies.

Pentagon Teaches Kindergarten Kids As U.S. Schools Are Militarized For Martial Law Conditioning This represents the process of full spectrum dominance over our children’s minds. First the government paid the mothers not to have husbands in the home (single parent benefits) and now the soldiers are bringing up our kids from Kindergarten age. This is about training Americans almost from birth that’s it’s normal to have troops involved in routine life on a day to day basis. This is total martial law conditioning.

`Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable... Roubini: Growth to Be 'Well Below' 1% ...`
`New Home Sales Sink to Lowest Pace on Record... POLITICO: SOME DEMS THINK HOUSE IS GONE... INTEL CEO blasts Obama, Dems; USA faces looming tech decline...`
`LETTERMAN TURNS: 'He'll have plenty of time for vacations after his one term' … [ This really is so true … wobama is so total, typical b* s* ] ...`

For Obama, some chances ahead (Washington Post) [ Come on! Wake up! There are no chances ahead for wobama’s already failed presidency! He knows it, the people know it, and even his most ardent blind supporters know it. One too many b* s* stories and broken (campaign) promises. Delivering a speech, albeit teleprompted, is a far cry from delivering, which reality most have awaken to. He seems to be incapable of even one original thought even as the wobamas seem to take umbrage as they are dissed for self-created lack of approbation ($500 sneakers, spain trip, fiddling while the nation burns, etc.). What next? The race card? Even as his (in)justice department had decided to ignore civil rights violations by blacks and focus only on whites? No! wobama’s failed presidency is as done as an over-cooked hard-boiled egg. Empty words just ain’t enough! ] New Orleans visit, Iraq speech offer president opportunities to help end a frustrating summer.]

Google’s Plans to Take Over The Internet Exposed! Google’s agreement with Verizon to speed certain Internet content to users opens the door to the complete sterilization of the world wide web as a force for political change. Under Google’s takeover plan, the Internet will closely resemble cable TV, independent voices will be silenced and the entire Internet will be bought up by transnational media giants.

‘Pre-Crime’ Reaches Number 1 Google Trend Spot Matt Ryan | Steve Watson’s incredible article about the use of pre-crime technology was picked up by large news sites such as the Drudge Report and others.

Pre-Crime Technology To Be Used In Washington D.C. Steve Watson | Computers predict what crime will be committed where, by who and when.

`Drudgereport: GALLUP GENDER GAP: Obama's Approval Among Men Hits All-Time Low of 39%... LOBOTOMY JOE BIDEN: 'We're moving in right direction'… Right lobotomy joe, anything you say! ...`
`Worries about recovery deepen...`
`'Hindenburg Omen' creator exits stock market...`
`Economy in 'Depression, Not Recession'...`
`Dow Faces 'Bouncy Ride to 5,000'...`
`Typical Slow Summer -- or Something Darker?`
`Drop in Home Sales Renews Pricing Fears...`
`Investors Scatter to Safety... Unemployed group blasts Geithner's handling of economy...`
`BOEHNER URGES OBAMA TO FIRE...`
`'Government as community organizer' has failed...`

`LA UNVEILS $578 MILLION SCHOOL`
`More Expensive Than China's Olympic Stadium!`
`California Delays $2.9 Billion School, County Payments Amid Budget Impasse...`

`'Beat Whitey Night': Iowa racial attacks at state fair...`        `POLICE REPORTS...`

Gasoline prices hit 8-month low (Washington Post) [ Strange days indeed. There was a time not long ago that the same news would engender a ‘glass-half-full’ spin for a fraudulent wall street rallying point. At the same time, higher oil prices one of those reasons for selling into the bubble. Today, higher oil prices day to day provide a ‘glass-half-full’ spin for a fraudulent wall street rallying point that drives the oils (stocks) higher. Yes, that’s how bad the economy really is. (Not a reference to ‘Strange Days’ the interesting film from that impressive oscar-winning giant (amazon) of a woman, Kathryn Bigelow, which sported a cast that included Tom Sizemore which of itself meant strange indeed.) ].

AIG pays back $4 billion of bailout debt (Washington Post) [ Ah, yes. How endearing. Just goes to show that the hearts of american business are in the right places. So touching … I’m sure I’m not alone in shrugging with a sense that given america’s chosen intractable downward path such as this matters little or none! ]

Obama targets IT contracts (Washington Post) [ And what goals are being met with the protracted mid-east wars with costs exceeding a trillion other than defacto bankruptcy of the nation and anti-american sentiment, not to mention the diversion from the multitude of america’s domestic problems. It seems to me that IT would be among the last of items warranting scrutiny (360 tons of $100’s flown into Iraq would without scrutiny go right into the treasury, etc.) , particularly since tech, though over-rated, is probably america’s last strength owing to a significant head start and a built- in language bias, though quickly becoming mere assemblers / distributors of foreign-made (components) at best.] The White House unveils plans to review 26 government information-technology projects worth a total of $30 billion as part of an effort to trim back or cancel contracts that aren't meeting goals.

Second Hindenburg Omen Confirmation In As Many Days, Third H.O. Event In One Week Longs may be forgiven if they are sweating their long positions over the weekend: not only did we just have a second, and far more solid Hindenburg Omen confirmation today.

Jim Rogers: If You Want Your Family To Be Silly Rich In The Future, Then Leave America And Move To Asia Now As you may know, Jim Rogers moved to Singapore in 2007, though he maintains a residence in the U.S. as well.

Portions of the Gulf are So Toxic that Dolphins, Fish, Crabs, Stingrays and Other Animals are “Trying to Crawl Out of the Water” Danny Ross, a commercial fisherman from Biloxi… said he has watched horseshoe crabs trying to crawl out of the water, and other marine life like stingrays and flounder trying to escape the water as well. He believes this is because the water is hypoxic.

Karzai: Private contractors ‘looting and stealing,’ working with terrorists Afghan President Hamid Karzai on Sunday defended his decision to ban private security contractors from operating in public in Afghanistan, saying many of the organizations tasked with providing security are engaging in terrorist activities, working with “Mafia-like” organizations and “looting and stealing from the Afghan people.”

Housing Fades as a Means to Build Wealth, Analysts Say Many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century.

Why “Fair Play” In A Central Bank Interventionist World Is A Doomed Strategy Today’s special report by Faros Trading summarizes the pathetic, uber-interventionist world we live in.

Hussman: Bernanke’s Quantitative Easing Is About To Trigger A Collapse In The US Dollar In his latest weekly letter, John Hussman warns of an imminent and disorderly collapse of the US dollar, courtesy of Ben Bernanke’s move towards more quantitative easing.

INSIDER TRANSACTIONS (Washington Post, August 23, 2010) Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can! ]

Washington looks tantalizing to New York (Washington Post) [ I’m surprised to see this ‘old news’ here since it’s widely known that the wall street frauds, goldman et als, have garnered near vampire legendary status by way of their infamous blood (taxpayers) / treasury draining ways. Tantalized? I’d say consumed. ]

Federal contractors team up with tech giants (Washington Post) [ Clearly the end of an innovative tech sector as blood-sucking, treasury draining corporate welfare artists show them how to get something for nothing but self-perpetuating, self-created needs that aren’t really needed! ] For traditional government contractors, the appeal of working with commercially successful companies such as Google or Apple is clear.

Drudgereport: `Philly requiring bloggers to pay $300 for 'license'… [ There are a plethora of reasons to leave philly and this is just another ] ...`
`WHAT BUDGET CRISES?      LA UNVEILS $578 MILLION SCHOOL [ Come on! In California it’s always about the private contracts with public money from public office holding slugs ]Gold bullion stolen from Florida treasure museum [ I personally believe that beyond the ‘gold-plate’, Fort Knox has already been looted! ] ...`

Wikileaks’ Assange: Pentagon may be behind rape claims Agence France-Presse | [ This story smacks of american modus operandi as alternative to outright murder / assassination. Enemy of the State Lew Rockwell | It’s been clear for some time that the Pentagon would love to put a bullet in Julian Assange’s brain. ] Wikileaks founder Julian Assange said in an interview published on Sunday that he believes the Pentagon could be behind a rape accusation against him that was later dropped by Swedish prosecutors.

Gulf Oil May Not Degrade for Decades Washington’s Blog | Scientists have found an underwater oil plume that is more than 22 miles long, more than a mile wide and 650 feet deep.

Yet another Soros tentacle exposed Jim Wallis, the man behind the so-called “religious left” – a left wing evangelical activist who worked to get evangelical support for Obama — has been exposed as another stooge of George Soros.

Der Spiegel: US middle class vanishing According to an article appearing in the German newspaper, Der Spiegel, the negative consequences of the global financial crisis include a widened social class rift and the elimination of the middle class in the US.

Swedish Prosecutors Drop Rape Charges Against Wikileaks Founder Now according to the AP, the rape charges against Wikileaks founder Julian Assange have been withdrawn.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

U.S. examines private sector's role in affordable housing (Washington Post) [ I’m sorry to say that in pondering the so-called policy-makers in Washington or in the corporate boardrooms that I’m hard-pressed to dismiss from my mind’s eye a picture of a bunch of scarecrows fumbling around while singing refrains such as ‘if they only had a brain’ cirque the land of the wizard of oz. The reality is that some basic grasp of economics, finance, business would go a long way in a more positive sense for the nation. Then there’s those infamous internment / concentration / ‘affordable housing’ camps that’s been filtering through the filters, so to speak.] The Obama administration is grappling over how much to force private lenders to pay for apartments and homes for the poor as it presses ahead with a major overhaul of the government's housing policy, officials said.

$60M project to resume in D.C. (Washington Post) [Well, at least they’re not fema concentration / internment camps; naah, they’re for the hoi polloi. Now luxury apartments for the Washington criminal class; that’s another story. Time to break out the bubbly ‘cause happy days are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union side of the conflict had its many concentration camps as well. ... and walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And how we burned in the camps later, thinking ... county is a designated home for a "concentration ... relocated to "secret locations" (FEMA camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily www.youtube.com
FEMA Concentration and Internment Camps A good over look of what FEMA is all about. Enslavement and Concentration Camps. It is not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA AND THE REX 84 PROGRAM. There are over 600 prison camps in the United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp masquerading as a water treatment plant" here in Texas was (ta-daa) a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION CAMPS: Locations and Executive Orders ..... Ft. Drum - two compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]

CBO Offers tax cuts assessment (Washington Post) [ One might be inclined to quip, well, you can’t give what you don’t have; but, we all know that’s not true in washington these days and they have the red ink to prove it. `Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...    ‘`(P)recarious fiscal situation by 2020? I’d call that wishful thinking! The 2020 part. How ‘bout now!]

Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh! Sounds like a plan! Or, the wrong plan! The one they’re using, that is. Or, no plan, like Afghanistan!]   `Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...`
`NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING...`
`Homeowners Expect Home Values to Fall More...`

Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners …]

Chiacgo's ShoreBank fails, is bought by investors Chicago Tribune - Chicago-based ShoreBank, which for more than three decades made loans to South and West siders who might not have gotten financing elsewhere to buy homes, apartment buildings and start businesses, failed Friday. Regulators shut big Chicago-based bank BusinessWeek Regulators shut down big Chicago bank, 7 others The Associated Press ‘… The FDIC also seized seven other banks Friday, bringing to 118 the number of U.S. bank failures this year amid the recession and mounting loan defaults …The FDIC also took over Community National Bank at Bartow, in Bartow, Fla.; Independent National Bank of Ocala, Fla.; Imperial Savings and Loan Association of Martinsville, Va.; and four California banks: Butte Community Bank, based in Chico; Pacific State Bank, based in Stockton; Los Padres Bank, in Solvang; and Sonoma Valley Bank, in Sonoma. …’ Reuters - Bloomberg - Los Angeles Times (blog) - Richmond Times Dispatch

World Indices / Week ended August 20, 2010 Yahoo Finance

BEAR MARKET MATH - JULY LOWS IN DANGER Simon Maierhofer, On Friday August 20, 2010, 4:53 pm EDT ‘
1+1=2
2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation?
Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As the chart below shows, positive earnings reports are not bullish for stocks, especially if future guidance is weak.[chart]

2+2=5 or Weaker than Expected Economy = Rising Stock Prices On July 30, the Bureau of Economic Analysis (BEA) lowered the previous quarter's Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?

3+3=7 or Positive Analyst Estimates = Higher Stock Prices A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market (NYSEArca: TWM - News) dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Ultra Financial (NYSEArca: UYG - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News). If you care to know, analysts estimate that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?

4+4=9 or Technical Sell Signals = Higher Stock Prices The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).

5+5=11 or Overvalued Stocks = Higher Prices As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Even value funds like the iShares Russell 1000 Value (NYSEArca: IWD - News) yield only a measly 2.08%. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped or overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market tops. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.’

DOES HISTORY REPEAT, RHYME OR JUST HAVE COINCIDENCES?   Lounsbury: ‘… Has anything of economic utility resulted? I have not found it. And counter to the effect of the dot.com collapse, the credit bubble collapse may not have stripped out some of the speculative income excesses. Wall Street bonuses are back to pre-crisis levels and there has been no "claw-back" of ill-gotten gains from the pirates who seized the economic ship. In fact, the pirates are still in command of the ship and are still under full sail. Yo ho ho and a bottle of rum! From my first Treasury report:

… the problem was that our systems, especially in finance and health care, are too heavily focused on pay for transactions rather than pay for outcomes. I didn’t have the presence of mind to bring instant gratification into the discussion, but that would have certainly made my thought process clearer.

I don't think this created any waves, but I will continue to wail in the wilderness about how compensation formulas contribute to and compound the structural problems in our financial system. So, back to the earnings chart that started this discussion. In view of what has been discussed here I believe we will find that history, in this instance, will at least rhyme, if not repeat exactly. Structural economic problems are sufficiently similar for the two eras that I expect we will see some form of recurrence of events 5 and 6 [Depression] …’

Hindenburg Omen Confirmation #1 Today we got our first Hindenburg Omen confirmation. The number of new highs was 136, and new lows was at 69 (per the traditional WSJ source).

Greek crisis refuses to go away The European Commission has approved the next €9bn (£7.4bn) tranche of loans for Greece but the underlying economy continues to deteriorate as Greek banks suffer a record loss of deposits and output contracts at a quickening pace.

We Killed The Goose That Laid The Golden Egg For middle class Americans, the new global economy has provided mountains of cheap products made in China, India and dozens of other nations, but it has also killed the goose that laid the golden egg.

Grim future for young workers in ‘pensioner ghettos’ Telegraph | Parts of Britain could become retirement ghettos within a generation with three retired people for every four in work, a report warns.

Is Our Money Based on Debt? Robert Murphy | The first thing to realize is that the Fed can control the size of the monetary base, but it can’t directly control its composition.

Obama Lied About Stimulus Dollars Aiding Local Project A local project that President Barack Obama cited during a visit Wednesday to Columbus as an example of how the federal stimulus package has worked isn’t actually being funded with stimulus dollars.

Black Swans Need Not Apply (6 Reasons Why the Economy is Going Down) Louis James | My New York adventures are signs of an approaching gold mania, not a present one. But I believe more firmly than ever that it’s coming.

DISMANTLING BULLISH ARGUMENTS Simon Maierhofer …
Bull Market Argument #1 - Stocks are Cheap Even though the economy is in the worst shape since the Great Depression, economists at large believe that stocks (NYSEArca: IVV - News) are cheap … We've previously analyzed the folly of relying on projected earnings forecasts and therefore, will only pose two more facts as food for thought before moving onto the next argument. Even if earnings are positive the market can decline, as we've seen with the 9% and 17% declines in January and May. Most of the earnings growth has been fueled by cost-cutting, not organic growth. What does that tell us about the sustainability of growth?
Bull Market Argument #2 - Cash on the Sidelines Cash on the sideline is viewed as bullish because, theoretically, it can be used to buy stocks and drive up prices. Some distinguish between corporate cash and retail cash on the sidelines. Many forget that for every dollar in cash, there is a debt that has to be repaid. According to the Federal Reserve, nonfinancial firms' debt totals $7.2 trillion, the highest level ever. As far as retail investors go, the current debt-income ratio is at 126%. The pre-bubble average was around 70%. To get back to the pre-bubble norm, about $6 trillion worth of debt would have to be eliminated. Retail money in money market funds is currently around the same level as it was in 2006/2007. Is that bullish?
Debunking the Bond Myth No doubt there's been a migration from investment dollars out of stocks and into bonds and gold… Bonds - especially corporate high yield bonds - could soon assume the role real estate had in 2006. Many thought that real estate (NYSEArca: IYR - News) will always go up. As it turns out, real estate prices can move in both directions, as can bond prices.
A Closer Look at Gold What about gold? … The previous cash level low was recorded in August of 2007. We know what happened then. Rather than focusing on the sideline cash, perhaps we should focus on the trillions of dollars still in the market. More selling means lower prices.
'Stocks are Cheap' vs. Realistic Valuations Using projected earnings to determine the markets real value is like counting chickens that have yet to hatch. Things change, and as studies have shown, analysts and economist are usually the last to discern that change. Market forecasting based on solid facts is tricky enough, but basing forecasts on thin assumptions usually translates into financial suicide… Stock market tops when P/E ratios are high, dividend yields are low and mutual fund cash reserves are low. Over the past year, we have seen P/E ratios at an all-time high, dividend yields close to their 1999 low, and mutual fund cash levels at an all-time low. In addition, we have also seen investor optimism soar to levels reminiscent of 2000 and 2007…

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Schwarzenegger Orders 150,000 Government Workers to Take Time Off Without Pay Bloomberg | Schwarzenegger directed state workers to take three unpaid days off each month to save cash.

Weekly Jobless Claims Post Surprise Jump, Hit 500,000 Reuters | New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Western Economies Face Hyperinflation: Gold Bull The decline of the Western economic model will bring about hyperinflation and decades of painful readjustment, Egon von Greyerz, founder of gold investment intermediary Goldswitzerland.com told CNBC Thursday.

US Prepares For Gold Standard To understand this objective it helps to go back to a very important moment in our monetary past…

5 Trillion More Dollars To Fix Fannie Mae And Freddie Mac??? Fannie Mae and Freddie Mac have become gigantic financial black holes that the U.S. government endlessly pours massive quantities of money into.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... 'Allahu Akbar!' Iran test fires new missile...`

`'Al-Qaida prepares for Israel-Iran war'...`

`US Assures Israel Nuclear Iran Isn't Imminent...`

`Israel tells UN it will stop new Gaza aid flotilla...`
`Lebanon refuses to bow to warning...`

`CHICAGOLAND: ShoreBank Closed by FDIC...`
`...strong ties to Obama administration USA DEBT: $13,310,379,000,000.00 $44,000 PER CITIZEN... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`

$60M project to resume in D.C. (Washington Post) [Well, at least they’re not fema concentration / internment camps; naah, they’re for the hoi polloi. Now luxury apartments for the Washington criminal class; that’s another story. Time to break out the bubbly ‘cause happy days are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union side of the conflict had its many concentration camps as well. ... and walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And how we burned in the camps later, thinking ... county is a designated home for a "concentration ... relocated to "secret locations" (FEMA camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily www.youtube.com
FEMA Concentration and Internment Camps A good over look of what FEMA is all about. Enslavement and Concentration Camps. It is not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA AND THE REX 84 PROGRAM. There are over 600 prison camps in the United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp masquerading as a water treatment plant" here in Texas was (ta-daa) a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION CAMPS: Locations and Executive Orders ..... Ft. Drum - two compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]

CBO Offers tax cuts assessment (Washington Post) [ One might be inclined to quip, well, you can’t give what you don’t have; but, we all know that’s not true in washington these days and they have the red ink to prove it. `Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...    ‘`(P)recarious fiscal situation by 2020? I’d call that wishful thinking! The 2020 part. How ‘bout now!]

Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh! Sounds like a plan! Or, the wrong plan! The one they’re using, that is. Or, no plan, like Afghanistan!]   `Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...`
`NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING...`
`Homeowners Expect Home Values to Fall More...`

Privatizing Virginia liquor stores makes sense (Washington Post) [Wow! I’m totally shocked. Having spent enough time in virginia with a part-time office in proximity to washington to discern the corrupt state of affairs of same dominated by what I refer to as government mob (predominantly cia, related, etc.) (my direct sampling of corrupt states of jersey the worst, new york, california, connecticut – 5 for 5) but I had no idea that the state was as backward as it appeared in having state-run liquor stores. How totally preposterous! ‘The revenuers are the brewers’ … just kidding!] Seventy-seven years after the repeal of Prohibition, you'd think we regard the sale of liquor to consenting adults no differently than the sale of any other good.

Warren sits down with lobbyists (Washington Post) [Talk about appearance of if not outright impropriety. Just what do these lobbyists do for their money. Eke out more fraud protection … for the perps? Forget them! ]Elizabeth Warren, a top candidate to lead the new Bureau of Consumer Financial Protection, met quietly with some of her sharpest critics: big bank lobbyists.

Federal Reserve's shift in policy doesn't change its basic outlook (Washington Post) / And what outlook is that? The no-recession initially touted by bernanke or ‘envy of all the world’ touted by senile greenspun? How ‘bout reality:

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract …

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Bulls Scatter ... Again ‘At the risk of sounding like a broken record, we wanted to once again highlight the lack of conviction among investors and advisors in the current market environment. Following the July rally, bullish sentiment based on the Investors Intelligence weekly survey jumped to its highest level since May. Then last week, the S&P 500 dropped more than 3% and the bulls scattered. In this week's survey, bullish sentiment declined 12% for its largest weekly decline since the flash crash…’

Know Your Indicators: Hindenburg Omen   ‘…Below we outline the five criteria (taken from Zero Hedge) that need to be satisfied in order for the indicator to be triggered. They are:

That the daily number of NYSE new 52-Week Highs and the daily number of new 52-Week Lows must both be greater than 2.2% of total NYSE issues traded that day.

That the smaller of these numbers is greater than or equal to 69 (68.772 is 2.2% of 3126). This is not a rule but more like a checksum. This condition is a function of the 2.2% of the total issues.

That the NYSE 10-Week moving average is rising.

That the McClellan Oscillator is negative on that same day.

That new 52-Week Highs cannot be more than twice the new 52-Week Lows (however it is fine for new 52-Week Lows to be more than double new 52-Week Highs). This condition is absolutely mandatory…’

Another Round of POMO: Dave's Daily ‘…Thursday we'll get another round of Uncle Sugar's special blend via more POMO (Permanent Open Market Operations). This private label brew will go directly to the Primary Dealers (dba: Da Boyz) who will use it to trade as before…’

More Fuel For a Bigger Decline Simon Maierhofer, On Tuesday August 17, 2010, 4:18 pm EDT A French proverb states that a fault denied is committed twice. Denial, as blissful as it is for the time being, does not serve as protection against the inevitable.A perfect example of denial is the May 6 flash crash. Neither Wall Street, the financial media, nor investors wanted to see the danger of such a meltdown beforehand. After it happened, they were in denial about the cause.

Denial is Bliss

The simple truth is that the market was ripe for a major correction. A few weeks before the flash crash, the ETF Profit Strategy Newsletter noted the extremely low CBOE Equity Put/Call Ratio and warned: 'It seems that only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' As it turns out, there was no clumsy-fingered trader at fault for the decline that reduced the Dow (DJI: ^DJI) by more than 1,000 points in one day. If it had been a simple error, stocks wouldn't have fallen to new lows after the flash crash. If it had been a simple error, the S&P (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) wouldn't still be trading below the flash crash close.

The Reality of Denial

But, that's the power of denial. Since the April 26 highs, the S&P has been moving from lower highs to lower lows. On July 1, the S&P had arrived at 1,011. The ensuing rally lifted the markets by nearly 10%, but failed to push the S&P and Nasdaq above the July 21 highs. The July 21 highs failed to move above the May 12 highs. The May 12 highs were significantly short of the April 26 highs. Despite the obvious downtrend, investors get as excited about dead end bounces as ever. This is not a bullish omen. In fact, according to the ETF Profit Strategy Newsletter's technical analysis, the steepest leg of the decline is still ahead. Before we look at more technical details, let's browse through some fundamental factors that reflect the current state of denial:

Don't Worry About Bank Failures

111 banks were added to the FDIC's failed bank list thus far in 2010. At the same time last year, only 76 banks had been shut down. According to an FDIC press release, Metro Bank of Dade County had total assets of $442.3 million and total deposits of $391.3 million. Assets outweigh liabilities by $51 million. That's good, but apparently not accurate. According to the FDIC's press release, closing Metro Bank will cost the FDIC $67.6 million. Why? Because an accounting trick allows banks to artificially inflate their assets. The accounting trick allowed this small bank to overstate its assets by about 25%. Other banks on the FDIC list overstated their assets by more than 50%. Imagine the size of the problem, considering that the four biggest banks (NYSEArca: KBE - News) of the country have about $7.5 trillion in combined assets. We should also point out that none of those losses technically affect earnings, at least not yet (for a detailed analysis refer to the June issue of the ETF Profit Strategy Newsletter).

Don't Worry About Falling Real Estate

The National Association of Home Builders reported that its monthly reading of builder's sentiment about the housing market sank to 14, the lowest level since March 2009. Unlike other economic indicators, this index is taken from builders that have their finger on the pulse of Main Street and is forward looking. Despite the rally in equities (NYSEArca: VTI - News) and real estate (NYSEArca: IYR - News), homebuilders (NYSEArca: XHB - News) never really saw light at the end of the tunnel.

Don't Worry About Foreclosures

According to RealtyTrac, more than 1 million American households are likely to lose their homes to foreclosure this year. This is about 10 times as high as during an average year. 25% of the U.S. household sector has a sub-600 FICO score. Yet, Fannie Mae is offering financing to first-time buyers who only have a $1,000 down-payment. Nearly $150 billion have been spent to keep the doors of Fannie, Freddie and company open. Does it make sense to artificially extend the life of a patient destined to die? In the case of Fannie, politicians seem to think that lending more money and ultimately creating more toxic assets will solve the problems. Even a third grader understands the irony of that concept. Denial is alive and well.

Don't Worry About Bankrupt States

States are in trouble. The bigger the state, the bigger the trouble it seems. California has a $1.8 trillion economy. If CA was a country, its economy would be the seventh biggest in the world, bigger than Russia. But, CA has no money. CNN reports that as many as 200,000 state workers in CA could see their pay scale slashed to minimum wage, if orders from the governor's office are followed. You don't need to be one of the 200,000 to know that is bad. To go from state salary to minimum wage is a huge drop.

Don't Worry About Falling Prices

Look around and you see a general downtrend develop: U.S. stocks (NYSEArca: IWB - News), international stocks (NYSEArca: EFA - News) and emerging market stocks (NYSEArca: EEM - News). The same applies to commodities (NYSEArca: DBC - News), real estate prices (NYSEArca: RWR - News) and consumer goods. The above-mentioned 'don't worries' all contribute to the deflationary spiral (see image below for a visual). Unemployment remains high because businesses have no pricing power. This leads to lower income, default foreclosures, and ultimately even higher unemployment. Even Bernanke knows, there is no easy fix to a deflationary cycle. Once engrained, it feeds on itself. [chart]

Don't Worry About Death Crosses

A death cross is one of the most powerful technical indicators. It occurs when the shorter simple moving average (SMA) crosses below the longer SMA. Over the last few weeks we saw literally dozens of such death crosses. Most notable was the S&P, Dow Jones and Nasdaq experiencing not only a death cross created by the 50 and 200-day SMA, but also courtesy of the 10 and 40-week SMA. Despite the rally from the July lows, the sell signal triggered by the various death crosses remained active. The fact that the Dow Jones was the only major index to rally above the June 21 highs provides an additional bearish non-confirmation. Over the past ten years, the buy/sell action triggered by the SMA crosses has a success rate of 75% - 100%. Winning trades outperformed losing trades by a ratio of at least 3:1. In investing, those are not the kind of odds you want to bet against. In other words, it's time to face reality and abandon denial. Leading up to the April highs, the ETF Profit Strategy Newsletter noted a pinnacle of denial which was reflected by investors' outright enthusiasm about stocks. At a time when approximately 8 of 10 investment advisors and newsletter writers were bullish on stocks, the ETF Profit Strategy Newsletter noted: 'The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' Since April 26, the major indexes dropped as much as 17%. Despite the recent rally, this seems to have been only the first installment of a significant decline. This decline is now in progress. In fact, the August issue of the ETF Profit Strategy Newsletter explains the one chart-pattern that explains why the next leg down will be strong and powerful. A British Historian noted decades ago that a wise person does at once what a fool does at last. Both do the same thing; only at different times. Will you get out of the markets way in time, or too late?

Here’s a new piece of the dismally murky puzzle which belies a previous raison d’etre for rally: Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches . Previously, Walmart same store sales were actually down (overseas results were up), and, think about it. Isn’t Walmart, as essentially an american based sales agent of china products a ‘contrarian indicator’ for the the u.s.; that is , hasn’t Walmart’s rise coincided with american main street’s demise. Similarly, fraudulent wall street high frequency churn and earn programmed trade scams among many other frauds as yet unprosecuted has heralded the death knell for american business and the economy, generally. Old news at best and, that ‘not bad as expected, better than expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers were also strong. As a group retailers climbed 1.8%. Discount retail giant and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on the back of in-line earnings and an improved forecast. Home improvement retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a more positive influence over retailers. It posted better-than-expected earnings for the latest quarter, but issued a rather mixed forecast. A smaller-than-expected increase in housing starts during July didn't do anything to derail the stock this session. Housing starts for July increased 1.7% month-over-month to an annualized rate of 546,000 units, which is less than the rate of 555,000 units that had been widely anticipated. Building permits for July fell 3.1% month-over-month to an annualized rate of 565,000, which is below the rate of 573,000 that had been expected…’ But, just a push of the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily.

However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GPD, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance.

There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GPD growth in the present and then revising it lower in the subsequent quarters.’

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Kaufman on High Frequency Trading   ‘Sen. Ted Kaufman (D., Del.) has been banging the drum on the need for regulatory changes to high frequency trading for a while. His latest thoughts on the matter take the form of a letter to SEC Chairwoman Mary Schapiro urging — among other things — major high-frequency trading firms be required to register with the Securities and Exchange Commission. Dow Jones Newswires’ Jacob Bunge reports:…’

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

The Bond Market Is Signaling Trouble Ahead Claus Vogt | My outlook for the economy and the stock market has steadily and significantly deteriorated since March 2010.

China Drains Obama Stimulus Meant for U.S. Economy Bloomberg | Globalization is pitting the Wangs in China or Gandhis in India against the Smiths in the U.S. or Gonzalezes in Spain.

Chossudovsky: China could already be world’s largest economy It’s widely predicted that China’s economy will be the largest in the world by 2020, overtaking the U.S. Only this week the country surpassed Japan to become the world’s second biggest economy by GDP.

Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches Those patiently following the Greek Bond-Bund spread to its inevitable conclusion have been fully aware that the plan that Europe is betting its entire future on, is patently flawed: namely that austerity, by its definition does not, and will not work.

Malaysian Province Moves To Gold And Silver-Based Currency In “Main Islamic Event Of The Last 100 Years” More world governments are “just saying no” to the ponzi. Last week, the Malaysian government of Kelantan “said it was introducing a new monetary system featuring standardised gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire.”

Analysts Foresee $1,300 Gold By Year-End Worries about a fragile U.S. economy are likely to keep investors shifting toward gold and could push the metal to fresh record highs near the $1,300 area by year-end, analysts and traders say.

Kicked In The Groin: Health Insurance Companies Are Dramatically Increasing Premiums Due To The New Health Care Law And There Is Not Much We Can Do About It Wasn’t the new health care reform law supposed to make health care more affordable for everyone? Well, imagine my surprise when I opened up a letter from my health insurance company recently and found out that my health insurance premiums were going up by nearly 50 percent.

geithner: Fannie, Freddie in need of overhaul (Washington Post) Now this is an understatement from tiny tim, God bless us everyone. I think tiny tim’s more concerned with public perception over their haul of taxpayer dollars.

Manufacturing, housing sectors exhibit diverging fortunes (Washington Post) I’d say understatement but I truly don’t know what this headline means juxtaposed with ‘fortunes’.

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

China Slashes U.S. Government Bond Holdings By The Largest Amount Ever China began reducing its holdings of U.S. government bonds again in June, and in fact cut just its holdings by the largest 1-month amount ever.

18 Signs That America Is Rotting Right In Front Of Our Eyes Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying.

Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’ As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically unscathed.

Tons of gold imports turn to dust on arrival Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Paul Joseph Watson | In the face of censorship, it’s more important than ever that people get the word out about Google’s plan to kill the web.

‘Bombshell Barack’ and ‘Kill Web’ Heading to Top of Google Trends Matt Ryan | Alex Jones would like to again thank everyone for their continued support in spreading the message of truth.

Google Plans To Kill Web In Internet Takeover Agenda Paul Joseph Watson | Doomsday scheme will silence independent voices for good.

Provocateurs Spray-paint “Infowars.com” on Private Property in Pennsylvania Kurt Nimmo | Fox News station in Pennsylvania insinuates Infowars.com behind incident.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Having at first appeared as normal, our earlier article about Google’s plan to kill the web has been completely de-listed from Google News. This is completely unprecedented and underscores how keen Google is to prevent people from finding out that it is a CIA-NSA front that is preparing to completely end the Internet as we know it with the Verizon net-neutrality killing deal.

8-24-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

U.S. Financial System Still "Fundamentally Corrupt," Kotlikoff Says: Here's How to Fix It ‘We have a "fundamentally corrupt financial system" and the Dodd-Frank reform bill did nothing to change it, says Boston University economics professor Laurence Kotlikoff. "Relatively little has changed except there are going to be more federal regulators who are probably going to miss major problems." At the core of the 2008 crisis was "the production and sale of trillions of fundamentally fraudulent securities," Kotlikoff says, suggesting all levels of society participated in the fraud -- including homeowners. At the center of it all were financial intermediaries (a.k.a. Wall Street) who packaged and sold "snake oil under the guise of proprietary information" to limit or eliminate disclosure, and enabled by corrupt rating agencies, regulators and elected officials, he says. In the accompanying video, Kotlikoff explains how we can "make Wall Street safe for Main Street." In short, we should transform all financial companies with limited liability (banks, hedge funds, private equity firms and insurance companies alike) into mutual funds, which the professor describes as "little banks that have 100% capital requirements. " Notably, the big mutual fund companies survived the "financial earthquake" of 2008-09 when the rest of the financial system collapsed, Kotlikoff recalls. In late 2009, Kotlikoff and Harvard's Niall Ferguson penned an op-ed for The FT describing a blueprint for how to take moral hazard out of banking. Citing a speech by Bank of England governor Mervyn King, Kotlikoff and Ferguson called for "limited purpose banking" (LPB), that would "limit banks to their legitimate purpose - financial intermediation and payment facilitation." Nine months later, Kotlikoff remains convinced this "very simple reform" remains a much better alternative than the financial reform bill hammered out in Washington - with plenty of influence from Wall Street lobbyists. "We are rebuilding [the system] out of straw rather than out of brick," Kotlikoff says, suggesting his "LPB" proposal will ultimately be good for the economy and provide a model for the rest of the world. "If we have a safe, sound [financial] structure other countries will follow suit," he says.’

**Stocks Crushed AGAIN: Here's What You Need To Know From The Business Insider All-around ugly. The close was especially bad. But first, the scoreboard:

Dow: -134

NASDAQ: -36

S&P 500: -15.5

And now, the top stories:**

* The day really started last night when the WSJ dropped its big story about the Fed being divided on the proper course of action. The report sent jitters throughout the markets, both because the future is uncertain, but also because it revealed that several of the Fed governors aren't actually seeing the economic deterioration being seen by market participants.

* The Nikkei started off and ended weak, as more murmurs about BoJ-yen intervention gathered steam. Japanese FinMind Noda did hold a yen-related press conference, but it mainly signaled that no action was imminent, and the yen surged (later in the day that was tempered a little bit by wire reports about a possible intervention).

* Europe continued the ugly trend as sovereign debt worries continue to race into the fore. Greek shares plunged on talk of a desperate merger among the country's banks. Even Germany's deficit is soaring.

* Stocks were already sagging in the early going when existing home sales data came out and was staggeringly bad. At a drop of 27.2%, the number was far worse than the most dour expectations.

* That's when things got pretty bad. Stocks fell further, the yen went ballistic, and the yield on the 10-year bond fell below 2.5%, a truly eye-popping number. Everyone is now presuming that another round of quantitative easing (QE) is a done deal.

* There were a few moments in the day when the bulls might try to make a run, but... nope. It never happened. Other notable market measures: Gold is quietly creeping back to old highs, while oil is threatening to fall below $70.

Traders Freaking Out Over WSJ Report On The Fed: Here's Why From The Business Insider ‘Last night, WSJ's John Hilsenrath reported that at the last FOMC meeting, several of the Fed governors expressed reservations about the plan to maintain the size of the balance sheet, and roll over MBS into Treasuries. There are a lot of moving parts to the story because there are different reasons for the objections. Some of the Fed governors are hawkish (like Hoenig). Some are more dovish (like Bullard). And some think that the Fed can't really do anything because our problems are more structural (Kocherlakota). But here's what folks are taking away from the article: The Fed is still way behind the curve in terms of how bad the economy is. It's paralyzed. It's funny, because this is the exact opposite of what some people initially thought -- there was this fear that the Fed knew something about bad news coming down the pike that the public hadn't heard yet. In fact, as we now know, the Fed isn't seeing what everyone else is. Anyway, this is the talk of the morning, and it's helping send stocks down again.’

Housing Sinks Stocks, Dow at 6-Week Low Midnight Trader4:20 PM, Aug 24, 2010 --

NYSE down 103.95 (-1.5%) to 6,681.02

DJIA down 134 (-1.3%) to 10,040

S&P 500 down 15.5 (-1.5%) to 1,052

Nasdaq down 36 (-1.7%) to 2,124

GLOBAL SENTIMENT

Hang Seng down 1.1%

Nikkei down 1.33%

FTSE down 1.51%

UPSIDE MOVERS

(+) AVII reports positive study results.

(+) MGIC signs four new partners.

(+) DTPI to be sold to PriceWaterhouseCoopers for $12.50 per share.

(+) FMCN continues evening gain that followed earnings.

(+) DUK downgraded.

DOWNSIDE MOVERS

(-) CRH warns for earnings.

(-) PFE says cancer study fails to meet primary endpoint.

(-) BIG EPS beat by a penny, raises FY EPS view though still straddles Street estimate.

(-) MDT meets with earnings, guides in line to below Street view.

(-) BKS reports wider-than-expected loss.

MARKET DIRECTION

Stocks end broadly in the red after disappointing housing data. The major averages had erased the bulk of their steep losses in afternoon action but a fresh leg down late in the session pushed the indexes back into the lower half of the day's range. The DJIA had dropped below 10,000 in the immediate wake of a reported drop in home resales but ends just above that line, off 1.3%. The S&P 500 drops 1.5%, while the tech-heavy Nasdaq sheds 1.7%. Stocks began the day under water as Asia and European averages both dropped in reflection of global investor jitters over the state of the recovery.

Crude futures end 2% lower, with the October contract at $71.63, an eleven-week low. Gasoline for September delivery settled at $1.85 a gallon, the lowest price since December 2009.

Equities and commodities fell after the National Association of Realtors said sales of previously occupied homes plunged 27% in July to an annual rate of 3.83 million, the lowest rate in 15 years. That's much worse than the 4.7 million estimate from economists polled by Thomson Reuters. The 27% drop from the previous month was the biggest since record-keeping began in 1968.

In company news:

Citigroup's (C) efforts to streamline its consumer unit in North America has caused the overdue loans to jump more than originally expected after the bank moved about 750,000 customer accounts to new locations, Bloomberg reported, citing a person briefed on the matter. That could increase the cost to make CitiFinancial--the name of the consumer finance unit--ready for sale, the report said.

Johnson & Johnson (JNJ) fell amid a Food and Drug Administration warning that its DePuy Orthopaedics unit is illegally marketing two products. The FDA warned Johnson & Johnson's unit that one product has never been approved for sale and another product is being sold for uses that have not been specifically approved.

Pfizer Inc. (PFE) fell after its cancer drug Sutent failed to improve the survival rates in patients who had previously been treated for lung cancer. When combined with the drug Tarceva, however, Sutent met its secondary goal of improving progression-free survival in patients.

Dell (DELL) is preparing a souped up offer for 3Par inc. (PAR) as it competes with Hewlett-Packard (HPQ), which bid $1.6 billion earlier this week, according to a Bloomberg report, citing a person familiar with the deal. The offer could be sent in the coming days, the report said, citing the source. Earlier, Dell had agreed to pay $1.5 billion for the company.

Tyson Foods (TSN) fell on news its subsidiary is recalling 380,000 pounds of deli meat that could be contaminated with Listeria monocytogenes. The meats were produced by Zemco Industries and were sold to Wal-Mart Stores (WMT) and used for Marketside Grab and Go Sandwiches. The meats were produced between June 18 and July 2.

In earnings news, Medtronic (MDT) shares are sharply lower after the medical device company lowered its profit forecast, citing slowing sales for it defibrillators and spinal products, reported Bloomberg. Medtronic reported Q1 non-GAAP EPS of $0.80, in line with the Thomson Reuters mean analyst estimate. Revenue of $3.773 billion is down 4% compared to the $3.933 billion reported a year ago. The Street expected $3.945 billion.

Barnes & Noble (BKS) fell after its first quarter loss was bigger than expected, and the book store group cut its outlook for the year. The company posted a loss of $62.5 million, or $1.02 a share excluding legal costs, compared to a profit of $12.3 million, or 21 cents a share, a year ago. Sales rose 21% to $1.4 billion.

Also, Big Lots (BIG) moved down 2.8% in choppy trade after missing the Street on fiscal Q2 revenue; it's getting little lift from a raised EPS forecast on the year, as economic concerns weigh on equities in today's trading. The company reported $1.148 billion in Q2 revenue, compared with Street's consensus view for $1.15 billion. The company reported earnings $63 million, or 48 cents per share, a penny better than the Street.

How to Get Through This Mess ‘… U.S. RECESSION NEVER ENDED; GDP TO CONTRACT IN Q3 Our suspicions have been confirmed - the recession never ended. Macroeconomic Advisers produces a monthly U.S. real GDP series and it shows that the peak was in April, as we expected, with both May and June down 0.4% in the worst back-to-back performance since the economy was crying Uncle! back in the depths of despair in September-October 2008. The quarterly data show that Q2 stands at a +1.1% annual rate (so look for a steep downward revision for last quarter) and the 'build in' for Q3 is -1.5% at an annual rate. Depending on the data flow through the July-September period, it looks like we could see a -0.5% to -1% annualized pace for the current quarter. Most economists have cut their forecasts but are still in a +2.5% to +3.5% range. What is truly amazing is that despite all the fiscal, monetary, and bailout stimulus, the level of real economy activity, as per the M.A. monthly data, is still 2.5% below the prior peak. To put this fact into context, the entire peak-to-trough contraction in the 2001 recession was 1.3%! That is incredible. Interestingly, and dovetailing nicely with our deflation theme, nominal GDP fell 0.3% in May and by 0.4% in June. This is a key reason why Treasury yields are melting … Bottom line? It is going to be a tough environment for the next 6-8 years. That is just what happens when you have a deleveraging / balance sheet / deflationary / end of the Debt Supercycle recession. It is what it is, and no amount of wishing or finger pointing can change the facts … ‘

Hardship 401(k) withdrawals set record in second quarter: More workers also borrowing from their accounts (Washington Post, August 22, 2010) [ Clearly an instance where ‘better late than never’ doesn’t quite do it … ‘better now than late or never’ is a bit better as the following see that old tune, ‘ The Big Hurt’, reaching once again number 1 on the billboard charts. ]

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can!

100-Year Bonds --- Sign of Trouble?

Analyst: Dow To 5,000, Lost Decade For Stocks The Dow Jones Industrial Average will lose about half of its value over the next couple of years as it follows a Nikkei-like pattern of several sharp rallies in an overall decline, according to Charles Nenner, founder and president of Charles Nenner research.

Existing home sales plunge 27% Existing home sales fell sharply in July, declining for a third straight month, as the effects of the expired homebuyer tax credit continued to add turbulence to the housing market.

Hindenburg Omen Creator Has Exited The Market As we reported first, last week saw the second confirmation of the Hindenburg Omen, most recently sighted for the first time on August 12. Presumably this is an indication of putting one’s money where one’s mouth is (and away from the market).

We’re Underperforming The Great Depression In real (inflation/deflation-adjusted) terms, when did the US market permanently regain the high reached in 1929? The first chart illustrates two answers to the question. One uses the real price and the other uses the real total return.

Top Republicans urge Obama to oust economic team Reuters | The top Republican in the U.S. House of Representatives called on Tuesday for President Barack Obama to fire his economic team in a campaign-style speech meant to focus voters on the weak American economy.

Home Sales Plunge to Record Low NY Times | Sales of existing homes plunged 27.2 percent in July, down to their lowest level since the National Association of Realtors began keeping track over a decade ago.

Unemployed group blasts Geithner’s handling of economy The Hill | UCubed, a group representing unemployed and underemployed workers, sharply criticized Treasury Secretary Timothy Geithner for his handling of the economy.

Stocks Plunge, Double Dip Recession Fears Grow After Home Sales Report U.S. stocks extended losses, sending the Dow Jones Industrial Average below 10,000, and the 10-year Treasury yield fell below 2.5 percent for the first time since 2009 as a bigger-than-estimated slump in existing home sales fueled concern the economy may relapse into recession.

Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt Nimmo | Infowars.com readers believe the monetary policies of the Federal Reserve will push the country into another depression.

Even Tony Robbins Is Warning That An Economic Collapse Is Coming It seems like almost everyone is warning of a coming economic collapse these days.

Alex Jones Exposes Google’s Plan to Dominate the Internet Infowars.com | Google’s takeover agenda will control the world wide web and force independent media websites, radio and TV shows out of existence for good.

Ron Paul: Let the Housing Market Normalize! Dr. Ron Paul | There seems to be a growing consensus in favor of abolishing Fannie and Freddie. This is the good news.

Americans Using Their Rainy Day Savings to Live Rebel Traders | The reality of the ‘real economy’, as measured by people, not Wall Street, is a deteriorating economy where any source of funds is fair game to be tapped into.

The Never Ending Recession Mr. Rosenberg believes we could see a negative GDP print THIS quarter. And if he’s right that means analysts are far too optimistic about the upcoming quarter.

Economic forecaster: ‘Greatest Depression’ coming Collapse of middle class means there’s no fuel for recovery, Gerald Celente argues.

Google’s Plans to Take Over The Internet Exposed! Google’s agreement with Verizon to speed certain Internet content to users opens the door to the complete sterilization of the world wide web as a force for political change. Under Google’s takeover plan, the Internet will closely resemble cable TV, independent voices will be silenced and the entire Internet will be bought up by transnational media giants.

‘Pre-Crime’ Reaches Number 1 Google Trend Spot Matt Ryan | Steve Watson’s incredible article about the use of pre-crime technology was picked up by large news sites such as the Drudge Report and others.

Pre-Crime Technology To Be Used In Washington D.C. Steve Watson | Computers predict what crime will be committed where, by who and when.

`Drudgereport: GALLUP GENDER GAP: Obama's Approval Among Men Hits All-Time Low of 39%... LOBOTOMY JOE BIDEN: 'We're moving in right direction'… Right lobotomy joe, anything you say! ...`
`Worries about recovery deepen...`
`'Hindenburg Omen' creator exits stock market...`
`Economy in 'Depression, Not Recession'...`
`Dow Faces 'Bouncy Ride to 5,000'...`
`Typical Slow Summer -- or Something Darker?`
`Drop in Home Sales Renews Pricing Fears...`
`Investors Scatter to Safety... Unemployed group blasts Geithner's handling of economy...`
`BOEHNER URGES OBAMA TO FIRE...`
`'Government as community organizer' has failed...`

`LA UNVEILS $578 MILLION SCHOOL`
`More Expensive Than China's Olympic Stadium!`
`California Delays $2.9 Billion School, County Payments Amid Budget Impasse...`

`'Beat Whitey Night': Iowa racial attacks at state fair...`        `POLICE REPORTS...`

Gasoline prices hit 8-month low (Washington Post) [ Strange days indeed. There was a time not long ago that the same news would engender a ‘glass-half-full’ spin for a fraudulent wall street rallying point. At the same time, higher oil prices one of those reasons for selling into the bubble. Today, higher oil prices day to day provide a ‘glass-half-full’ spin for a fraudulent wall street rallying point that drives the oils (stocks) higher. Yes, that’s how bad the economy really is. (Not a reference to ‘Strange Days’ the interesting film from that impressive oscar-winning giant (amazon) of a woman, Kathryn Bigelow, which sported a cast that included Tom Sizemore which of itself meant strange indeed.) ].

AIG pays back $4 billion of bailout debt (Washington Post) [ Ah, yes. How endearing. Just goes to show that the hearts of american business are in the right places. So touching … I’m sure I’m not alone in shrugging with a sense that given america’s chosen intractable downward path such as this matters little or none! ]

Obama targets IT contracts (Washington Post) [ And what goals are being met with the protracted mid-east wars with costs exceeding a trillion other than defacto bankruptcy of the nation and anti-american sentiment, not to mention the diversion from the multitude of america’s domestic problems. It seems to me that IT would be among the last of items warranting scrutiny (360 tons of $100’s flown into Iraq would without scrutiny go right into the treasury, etc.) , particularly since tech, though over-rated, is probably america’s last strength owing to a significant head start and a built- in language bias, though quickly becoming mere assemblers / distributors of foreign-made (components) at best.] The White House unveils plans to review 26 government information-technology projects worth a total of $30 billion as part of an effort to trim back or cancel contracts that aren't meeting goals.

Second Hindenburg Omen Confirmation In As Many Days, Third H.O. Event In One Week Longs may be forgiven if they are sweating their long positions over the weekend: not only did we just have a second, and far more solid Hindenburg Omen confirmation today.

Jim Rogers: If You Want Your Family To Be Silly Rich In The Future, Then Leave America And Move To Asia Now As you may know, Jim Rogers moved to Singapore in 2007, though he maintains a residence in the U.S. as well.

Portions of the Gulf are So Toxic that Dolphins, Fish, Crabs, Stingrays and Other Animals are “Trying to Crawl Out of the Water” Danny Ross, a commercial fisherman from Biloxi… said he has watched horseshoe crabs trying to crawl out of the water, and other marine life like stingrays and flounder trying to escape the water as well. He believes this is because the water is hypoxic.

Karzai: Private contractors ‘looting and stealing,’ working with terrorists Afghan President Hamid Karzai on Sunday defended his decision to ban private security contractors from operating in public in Afghanistan, saying many of the organizations tasked with providing security are engaging in terrorist activities, working with “Mafia-like” organizations and “looting and stealing from the Afghan people.”

Housing Fades as a Means to Build Wealth, Analysts Say Many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century.

Why “Fair Play” In A Central Bank Interventionist World Is A Doomed Strategy Today’s special report by Faros Trading summarizes the pathetic, uber-interventionist world we live in.

Hussman: Bernanke’s Quantitative Easing Is About To Trigger A Collapse In The US Dollar In his latest weekly letter, John Hussman warns of an imminent and disorderly collapse of the US dollar, courtesy of Ben Bernanke’s move towards more quantitative easing.

INSIDER TRANSACTIONS (Washington Post, August 23, 2010) Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can! ]

Washington looks tantalizing to New York (Washington Post) [ I’m surprised to see this ‘old news’ here since it’s widely known that the wall street frauds, goldman et als, have garnered near vampire legendary status by way of their infamous blood (taxpayers) / treasury draining ways. Tantalized? I’d say consumed. ]

Federal contractors team up with tech giants (Washington Post) [ Clearly the end of an innovative tech sector as blood-sucking, treasury draining corporate welfare artists show them how to get something for nothing but self-perpetuating, self-created needs that aren’t really needed! ] For traditional government contractors, the appeal of working with commercially successful companies such as Google or Apple is clear.

Drudgereport: `Philly requiring bloggers to pay $300 for 'license'… [ There are a plethora of reasons to leave philly and this is just another ] ...`
`WHAT BUDGET CRISES?      LA UNVEILS $578 MILLION SCHOOL [ Come on! In California it’s always about the private contracts with public money from public office holding slugs ]Gold bullion stolen from Florida treasure museum [ I personally believe that beyond the ‘gold-plate’, Fort Knox has already been looted! ] ...`

Wikileaks’ Assange: Pentagon may be behind rape claims Agence France-Presse | [ This story smacks of american modus operandi as alternative to outright murder / assassination. Enemy of the State Lew Rockwell | It’s been clear for some time that the Pentagon would love to put a bullet in Julian Assange’s brain. ] Wikileaks founder Julian Assange said in an interview published on Sunday that he believes the Pentagon could be behind a rape accusation against him that was later dropped by Swedish prosecutors.

Gulf Oil May Not Degrade for Decades Washington’s Blog | Scientists have found an underwater oil plume that is more than 22 miles long, more than a mile wide and 650 feet deep.

Yet another Soros tentacle exposed Jim Wallis, the man behind the so-called “religious left” – a left wing evangelical activist who worked to get evangelical support for Obama — has been exposed as another stooge of George Soros.

Der Spiegel: US middle class vanishing According to an article appearing in the German newspaper, Der Spiegel, the negative consequences of the global financial crisis include a widened social class rift and the elimination of the middle class in the US.

Swedish Prosecutors Drop Rape Charges Against Wikileaks Founder Now according to the AP, the rape charges against Wikileaks founder Julian Assange have been withdrawn.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

U.S. examines private sector's role in affordable housing (Washington Post) [ I’m sorry to say that in pondering the so-called policy-makers in Washington or in the corporate boardrooms that I’m hard-pressed to dismiss from my mind’s eye a picture of a bunch of scarecrows fumbling around while singing refrains such as ‘if they only had a brain’ cirque the land of the wizard of oz. The reality is that some basic grasp of economics, finance, business would go a long way in a more positive sense for the nation. Then there’s those infamous internment / concentration / ‘affordable housing’ camps that’s been filtering through the filters, so to speak.] The Obama administration is grappling over how much to force private lenders to pay for apartments and homes for the poor as it presses ahead with a major overhaul of the government's housing policy, officials said.

$60M project to resume in D.C. (Washington Post) [Well, at least they’re not fema concentration / internment camps; naah, they’re for the hoi polloi. Now luxury apartments for the Washington criminal class; that’s another story. Time to break out the bubbly ‘cause happy days are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union side of the conflict had its many concentration camps as well. ... and walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And how we burned in the camps later, thinking ... county is a designated home for a "concentration ... relocated to "secret locations" (FEMA camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily www.youtube.com
FEMA Concentration and Internment Camps A good over look of what FEMA is all about. Enslavement and Concentration Camps. It is not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA AND THE REX 84 PROGRAM. There are over 600 prison camps in the United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp masquerading as a water treatment plant" here in Texas was (ta-daa) a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION CAMPS: Locations and Executive Orders ..... Ft. Drum - two compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]

CBO Offers tax cuts assessment (Washington Post) [ One might be inclined to quip, well, you can’t give what you don’t have; but, we all know that’s not true in washington these days and they have the red ink to prove it. `Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...    ‘`(P)recarious fiscal situation by 2020? I’d call that wishful thinking! The 2020 part. How ‘bout now!]

Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh! Sounds like a plan! Or, the wrong plan! The one they’re using, that is. Or, no plan, like Afghanistan!]   `Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...`
`NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING...`
`Homeowners Expect Home Values to Fall More...`

Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners …]

Chiacgo's ShoreBank fails, is bought by investors Chicago Tribune - Chicago-based ShoreBank, which for more than three decades made loans to South and West siders who might not have gotten financing elsewhere to buy homes, apartment buildings and start businesses, failed Friday. Regulators shut big Chicago-based bank BusinessWeek Regulators shut down big Chicago bank, 7 others The Associated Press ‘… The FDIC also seized seven other banks Friday, bringing to 118 the number of U.S. bank failures this year amid the recession and mounting loan defaults …The FDIC also took over Community National Bank at Bartow, in Bartow, Fla.; Independent National Bank of Ocala, Fla.; Imperial Savings and Loan Association of Martinsville, Va.; and four California banks: Butte Community Bank, based in Chico; Pacific State Bank, based in Stockton; Los Padres Bank, in Solvang; and Sonoma Valley Bank, in Sonoma. …’ Reuters - Bloomberg - Los Angeles Times (blog) - Richmond Times Dispatch

World Indices / Week ended August 20, 2010 Yahoo Finance

BEAR MARKET MATH - JULY LOWS IN DANGER Simon Maierhofer, On Friday August 20, 2010, 4:53 pm EDT ‘
1+1=2
2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation?
Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As the chart below shows, positive earnings reports are not bullish for stocks, especially if future guidance is weak.[chart]

2+2=5 or Weaker than Expected Economy = Rising Stock Prices On July 30, the Bureau of Economic Analysis (BEA) lowered the previous quarter's Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?

3+3=7 or Positive Analyst Estimates = Higher Stock Prices A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market (NYSEArca: TWM - News) dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Ultra Financial (NYSEArca: UYG - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News). If you care to know, analysts estimate that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?

4+4=9 or Technical Sell Signals = Higher Stock Prices The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).

5+5=11 or Overvalued Stocks = Higher Prices As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Even value funds like the iShares Russell 1000 Value (NYSEArca: IWD - News) yield only a measly 2.08%. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped or overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market tops. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.’

DOES HISTORY REPEAT, RHYME OR JUST HAVE COINCIDENCES?   Lounsbury: ‘… Has anything of economic utility resulted? I have not found it. And counter to the effect of the dot.com collapse, the credit bubble collapse may not have stripped out some of the speculative income excesses. Wall Street bonuses are back to pre-crisis levels and there has been no "claw-back" of ill-gotten gains from the pirates who seized the economic ship. In fact, the pirates are still in command of the ship and are still under full sail. Yo ho ho and a bottle of rum! From my first Treasury report:

… the problem was that our systems, especially in finance and health care, are too heavily focused on pay for transactions rather than pay for outcomes. I didn’t have the presence of mind to bring instant gratification into the discussion, but that would have certainly made my thought process clearer.

I don't think this created any waves, but I will continue to wail in the wilderness about how compensation formulas contribute to and compound the structural problems in our financial system. So, back to the earnings chart that started this discussion. In view of what has been discussed here I believe we will find that history, in this instance, will at least rhyme, if not repeat exactly. Structural economic problems are sufficiently similar for the two eras that I expect we will see some form of recurrence of events 5 and 6 [Depression] …’

Hindenburg Omen Confirmation #1 Today we got our first Hindenburg Omen confirmation. The number of new highs was 136, and new lows was at 69 (per the traditional WSJ source).

Greek crisis refuses to go away The European Commission has approved the next €9bn (£7.4bn) tranche of loans for Greece but the underlying economy continues to deteriorate as Greek banks suffer a record loss of deposits and output contracts at a quickening pace.

We Killed The Goose That Laid The Golden Egg For middle class Americans, the new global economy has provided mountains of cheap products made in China, India and dozens of other nations, but it has also killed the goose that laid the golden egg.

Grim future for young workers in ‘pensioner ghettos’ Telegraph | Parts of Britain could become retirement ghettos within a generation with three retired people for every four in work, a report warns.

Is Our Money Based on Debt? Robert Murphy | The first thing to realize is that the Fed can control the size of the monetary base, but it can’t directly control its composition.

Obama Lied About Stimulus Dollars Aiding Local Project A local project that President Barack Obama cited during a visit Wednesday to Columbus as an example of how the federal stimulus package has worked isn’t actually being funded with stimulus dollars.

Black Swans Need Not Apply (6 Reasons Why the Economy is Going Down) Louis James | My New York adventures are signs of an approaching gold mania, not a present one. But I believe more firmly than ever that it’s coming.

DISMANTLING BULLISH ARGUMENTS Simon Maierhofer …
Bull Market Argument #1 - Stocks are Cheap Even though the economy is in the worst shape since the Great Depression, economists at large believe that stocks (NYSEArca: IVV - News) are cheap … We've previously analyzed the folly of relying on projected earnings forecasts and therefore, will only pose two more facts as food for thought before moving onto the next argument. Even if earnings are positive the market can decline, as we've seen with the 9% and 17% declines in January and May. Most of the earnings growth has been fueled by cost-cutting, not organic growth. What does that tell us about the sustainability of growth?
Bull Market Argument #2 - Cash on the Sidelines Cash on the sideline is viewed as bullish because, theoretically, it can be used to buy stocks and drive up prices. Some distinguish between corporate cash and retail cash on the sidelines. Many forget that for every dollar in cash, there is a debt that has to be repaid. According to the Federal Reserve, nonfinancial firms' debt totals $7.2 trillion, the highest level ever. As far as retail investors go, the current debt-income ratio is at 126%. The pre-bubble average was around 70%. To get back to the pre-bubble norm, about $6 trillion worth of debt would have to be eliminated. Retail money in money market funds is currently around the same level as it was in 2006/2007. Is that bullish?
Debunking the Bond Myth No doubt there's been a migration from investment dollars out of stocks and into bonds and gold… Bonds - especially corporate high yield bonds - could soon assume the role real estate had in 2006. Many thought that real estate (NYSEArca: IYR - News) will always go up. As it turns out, real estate prices can move in both directions, as can bond prices.
A Closer Look at Gold What about gold? … The previous cash level low was recorded in August of 2007. We know what happened then. Rather than focusing on the sideline cash, perhaps we should focus on the trillions of dollars still in the market. More selling means lower prices.
'Stocks are Cheap' vs. Realistic Valuations Using projected earnings to determine the markets real value is like counting chickens that have yet to hatch. Things change, and as studies have shown, analysts and economist are usually the last to discern that change. Market forecasting based on solid facts is tricky enough, but basing forecasts on thin assumptions usually translates into financial suicide… Stock market tops when P/E ratios are high, dividend yields are low and mutual fund cash reserves are low. Over the past year, we have seen P/E ratios at an all-time high, dividend yields close to their 1999 low, and mutual fund cash levels at an all-time low. In addition, we have also seen investor optimism soar to levels reminiscent of 2000 and 2007…

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Schwarzenegger Orders 150,000 Government Workers to Take Time Off Without Pay Bloomberg | Schwarzenegger directed state workers to take three unpaid days off each month to save cash.

Weekly Jobless Claims Post Surprise Jump, Hit 500,000 Reuters | New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Western Economies Face Hyperinflation: Gold Bull The decline of the Western economic model will bring about hyperinflation and decades of painful readjustment, Egon von Greyerz, founder of gold investment intermediary Goldswitzerland.com told CNBC Thursday.

US Prepares For Gold Standard To understand this objective it helps to go back to a very important moment in our monetary past…

5 Trillion More Dollars To Fix Fannie Mae And Freddie Mac??? Fannie Mae and Freddie Mac have become gigantic financial black holes that the U.S. government endlessly pours massive quantities of money into.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... 'Allahu Akbar!' Iran test fires new missile...`

`'Al-Qaida prepares for Israel-Iran war'...`

`US Assures Israel Nuclear Iran Isn't Imminent...`

`Israel tells UN it will stop new Gaza aid flotilla...`
`Lebanon refuses to bow to warning...`

`CHICAGOLAND: ShoreBank Closed by FDIC...`
`...strong ties to Obama administration USA DEBT: $13,310,379,000,000.00 $44,000 PER CITIZEN... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`

$60M project to resume in D.C. (Washington Post) [Well, at least they’re not fema concentration / internment camps; naah, they’re for the hoi polloi. Now luxury apartments for the Washington criminal class; that’s another story. Time to break out the bubbly ‘cause happy days are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union side of the conflict had its many concentration camps as well. ... and walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And how we burned in the camps later, thinking ... county is a designated home for a "concentration ... relocated to "secret locations" (FEMA camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily www.youtube.com
FEMA Concentration and Internment Camps A good over look of what FEMA is all about. Enslavement and Concentration Camps. It is not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA AND THE REX 84 PROGRAM. There are over 600 prison camps in the United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp masquerading as a water treatment plant" here in Texas was (ta-daa) a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION CAMPS: Locations and Executive Orders ..... Ft. Drum - two compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]

CBO Offers tax cuts assessment (Washington Post) [ One might be inclined to quip, well, you can’t give what you don’t have; but, we all know that’s not true in washington these days and they have the red ink to prove it. `Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...    ‘`(P)recarious fiscal situation by 2020? I’d call that wishful thinking! The 2020 part. How ‘bout now!]

Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh! Sounds like a plan! Or, the wrong plan! The one they’re using, that is. Or, no plan, like Afghanistan!]   `Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...`
`NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING...`
`Homeowners Expect Home Values to Fall More...`

Privatizing Virginia liquor stores makes sense (Washington Post) [Wow! I’m totally shocked. Having spent enough time in virginia with a part-time office in proximity to washington to discern the corrupt state of affairs of same dominated by what I refer to as government mob (predominantly cia, related, etc.) (my direct sampling of corrupt states of jersey the worst, new york, california, connecticut – 5 for 5) but I had no idea that the state was as backward as it appeared in having state-run liquor stores. How totally preposterous! ‘The revenuers are the brewers’ … just kidding!] Seventy-seven years after the repeal of Prohibition, you'd think we regard the sale of liquor to consenting adults no differently than the sale of any other good.

Warren sits down with lobbyists (Washington Post) [Talk about appearance of if not outright impropriety. Just what do these lobbyists do for their money. Eke out more fraud protection … for the perps? Forget them! ]Elizabeth Warren, a top candidate to lead the new Bureau of Consumer Financial Protection, met quietly with some of her sharpest critics: big bank lobbyists.

Federal Reserve's shift in policy doesn't change its basic outlook (Washington Post) / And what outlook is that? The no-recession initially touted by bernanke or ‘envy of all the world’ touted by senile greenspun? How ‘bout reality:

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract …

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Bulls Scatter ... Again ‘At the risk of sounding like a broken record, we wanted to once again highlight the lack of conviction among investors and advisors in the current market environment. Following the July rally, bullish sentiment based on the Investors Intelligence weekly survey jumped to its highest level since May. Then last week, the S&P 500 dropped more than 3% and the bulls scattered. In this week's survey, bullish sentiment declined 12% for its largest weekly decline since the flash crash…’

Know Your Indicators: Hindenburg Omen   ‘…Below we outline the five criteria (taken from Zero Hedge) that need to be satisfied in order for the indicator to be triggered. They are:

That the daily number of NYSE new 52-Week Highs and the daily number of new 52-Week Lows must both be greater than 2.2% of total NYSE issues traded that day.

That the smaller of these numbers is greater than or equal to 69 (68.772 is 2.2% of 3126). This is not a rule but more like a checksum. This condition is a function of the 2.2% of the total issues.

That the NYSE 10-Week moving average is rising.

That the McClellan Oscillator is negative on that same day.

That new 52-Week Highs cannot be more than twice the new 52-Week Lows (however it is fine for new 52-Week Lows to be more than double new 52-Week Highs). This condition is absolutely mandatory…’

Another Round of POMO: Dave's Daily ‘…Thursday we'll get another round of Uncle Sugar's special blend via more POMO (Permanent Open Market Operations). This private label brew will go directly to the Primary Dealers (dba: Da Boyz) who will use it to trade as before…’

More Fuel For a Bigger Decline Simon Maierhofer, On Tuesday August 17, 2010, 4:18 pm EDT A French proverb states that a fault denied is committed twice. Denial, as blissful as it is for the time being, does not serve as protection against the inevitable.A perfect example of denial is the May 6 flash crash. Neither Wall Street, the financial media, nor investors wanted to see the danger of such a meltdown beforehand. After it happened, they were in denial about the cause.

Denial is Bliss

The simple truth is that the market was ripe for a major correction. A few weeks before the flash crash, the ETF Profit Strategy Newsletter noted the extremely low CBOE Equity Put/Call Ratio and warned: 'It seems that only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' As it turns out, there was no clumsy-fingered trader at fault for the decline that reduced the Dow (DJI: ^DJI) by more than 1,000 points in one day. If it had been a simple error, stocks wouldn't have fallen to new lows after the flash crash. If it had been a simple error, the S&P (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) wouldn't still be trading below the flash crash close.

The Reality of Denial

But, that's the power of denial. Since the April 26 highs, the S&P has been moving from lower highs to lower lows. On July 1, the S&P had arrived at 1,011. The ensuing rally lifted the markets by nearly 10%, but failed to push the S&P and Nasdaq above the July 21 highs. The July 21 highs failed to move above the May 12 highs. The May 12 highs were significantly short of the April 26 highs. Despite the obvious downtrend, investors get as excited about dead end bounces as ever. This is not a bullish omen. In fact, according to the ETF Profit Strategy Newsletter's technical analysis, the steepest leg of the decline is still ahead. Before we look at more technical details, let's browse through some fundamental factors that reflect the current state of denial:

Don't Worry About Bank Failures

111 banks were added to the FDIC's failed bank list thus far in 2010. At the same time last year, only 76 banks had been shut down. According to an FDIC press release, Metro Bank of Dade County had total assets of $442.3 million and total deposits of $391.3 million. Assets outweigh liabilities by $51 million. That's good, but apparently not accurate. According to the FDIC's press release, closing Metro Bank will cost the FDIC $67.6 million. Why? Because an accounting trick allows banks to artificially inflate their assets. The accounting trick allowed this small bank to overstate its assets by about 25%. Other banks on the FDIC list overstated their assets by more than 50%. Imagine the size of the problem, considering that the four biggest banks (NYSEArca: KBE - News) of the country have about $7.5 trillion in combined assets. We should also point out that none of those losses technically affect earnings, at least not yet (for a detailed analysis refer to the June issue of the ETF Profit Strategy Newsletter).

Don't Worry About Falling Real Estate

The National Association of Home Builders reported that its monthly reading of builder's sentiment about the housing market sank to 14, the lowest level since March 2009. Unlike other economic indicators, this index is taken from builders that have their finger on the pulse of Main Street and is forward looking. Despite the rally in equities (NYSEArca: VTI - News) and real estate (NYSEArca: IYR - News), homebuilders (NYSEArca: XHB - News) never really saw light at the end of the tunnel.

Don't Worry About Foreclosures

According to RealtyTrac, more than 1 million American households are likely to lose their homes to foreclosure this year. This is about 10 times as high as during an average year. 25% of the U.S. household sector has a sub-600 FICO score. Yet, Fannie Mae is offering financing to first-time buyers who only have a $1,000 down-payment. Nearly $150 billion have been spent to keep the doors of Fannie, Freddie and company open. Does it make sense to artificially extend the life of a patient destined to die? In the case of Fannie, politicians seem to think that lending more money and ultimately creating more toxic assets will solve the problems. Even a third grader understands the irony of that concept. Denial is alive and well.

Don't Worry About Bankrupt States

States are in trouble. The bigger the state, the bigger the trouble it seems. California has a $1.8 trillion economy. If CA was a country, its economy would be the seventh biggest in the world, bigger than Russia. But, CA has no money. CNN reports that as many as 200,000 state workers in CA could see their pay scale slashed to minimum wage, if orders from the governor's office are followed. You don't need to be one of the 200,000 to know that is bad. To go from state salary to minimum wage is a huge drop.

Don't Worry About Falling Prices

Look around and you see a general downtrend develop: U.S. stocks (NYSEArca: IWB - News), international stocks (NYSEArca: EFA - News) and emerging market stocks (NYSEArca: EEM - News). The same applies to commodities (NYSEArca: DBC - News), real estate prices (NYSEArca: RWR - News) and consumer goods. The above-mentioned 'don't worries' all contribute to the deflationary spiral (see image below for a visual). Unemployment remains high because businesses have no pricing power. This leads to lower income, default foreclosures, and ultimately even higher unemployment. Even Bernanke knows, there is no easy fix to a deflationary cycle. Once engrained, it feeds on itself. [chart]

Don't Worry About Death Crosses

A death cross is one of the most powerful technical indicators. It occurs when the shorter simple moving average (SMA) crosses below the longer SMA. Over the last few weeks we saw literally dozens of such death crosses. Most notable was the S&P, Dow Jones and Nasdaq experiencing not only a death cross created by the 50 and 200-day SMA, but also courtesy of the 10 and 40-week SMA. Despite the rally from the July lows, the sell signal triggered by the various death crosses remained active. The fact that the Dow Jones was the only major index to rally above the June 21 highs provides an additional bearish non-confirmation. Over the past ten years, the buy/sell action triggered by the SMA crosses has a success rate of 75% - 100%. Winning trades outperformed losing trades by a ratio of at least 3:1. In investing, those are not the kind of odds you want to bet against. In other words, it's time to face reality and abandon denial. Leading up to the April highs, the ETF Profit Strategy Newsletter noted a pinnacle of denial which was reflected by investors' outright enthusiasm about stocks. At a time when approximately 8 of 10 investment advisors and newsletter writers were bullish on stocks, the ETF Profit Strategy Newsletter noted: 'The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' Since April 26, the major indexes dropped as much as 17%. Despite the recent rally, this seems to have been only the first installment of a significant decline. This decline is now in progress. In fact, the August issue of the ETF Profit Strategy Newsletter explains the one chart-pattern that explains why the next leg down will be strong and powerful. A British Historian noted decades ago that a wise person does at once what a fool does at last. Both do the same thing; only at different times. Will you get out of the markets way in time, or too late?

Here’s a new piece of the dismally murky puzzle which belies a previous raison d’etre for rally: Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches . Previously, Walmart same store sales were actually down (overseas results were up), and, think about it. Isn’t Walmart, as essentially an american based sales agent of china products a ‘contrarian indicator’ for the the u.s.; that is , hasn’t Walmart’s rise coincided with american main street’s demise. Similarly, fraudulent wall street high frequency churn and earn programmed trade scams among many other frauds as yet unprosecuted has heralded the death knell for american business and the economy, generally. Old news at best and, that ‘not bad as expected, better than expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers were also strong. As a group retailers climbed 1.8%. Discount retail giant and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on the back of in-line earnings and an improved forecast. Home improvement retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a more positive influence over retailers. It posted better-than-expected earnings for the latest quarter, but issued a rather mixed forecast. A smaller-than-expected increase in housing starts during July didn't do anything to derail the stock this session. Housing starts for July increased 1.7% month-over-month to an annualized rate of 546,000 units, which is less than the rate of 555,000 units that had been widely anticipated. Building permits for July fell 3.1% month-over-month to an annualized rate of 565,000, which is below the rate of 573,000 that had been expected…’ But, just a push of the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily.

However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GPD, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance.

There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GPD growth in the present and then revising it lower in the subsequent quarters.’

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Kaufman on High Frequency Trading   ‘Sen. Ted Kaufman (D., Del.) has been banging the drum on the need for regulatory changes to high frequency trading for a while. His latest thoughts on the matter take the form of a letter to SEC Chairwoman Mary Schapiro urging — among other things — major high-frequency trading firms be required to register with the Securities and Exchange Commission. Dow Jones Newswires’ Jacob Bunge reports:…’

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

The Bond Market Is Signaling Trouble Ahead Claus Vogt | My outlook for the economy and the stock market has steadily and significantly deteriorated since March 2010.

China Drains Obama Stimulus Meant for U.S. Economy Bloomberg | Globalization is pitting the Wangs in China or Gandhis in India against the Smiths in the U.S. or Gonzalezes in Spain.

Chossudovsky: China could already be world’s largest economy It’s widely predicted that China’s economy will be the largest in the world by 2020, overtaking the U.S. Only this week the country surpassed Japan to become the world’s second biggest economy by GDP.

Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches Those patiently following the Greek Bond-Bund spread to its inevitable conclusion have been fully aware that the plan that Europe is betting its entire future on, is patently flawed: namely that austerity, by its definition does not, and will not work.

Malaysian Province Moves To Gold And Silver-Based Currency In “Main Islamic Event Of The Last 100 Years” More world governments are “just saying no” to the ponzi. Last week, the Malaysian government of Kelantan “said it was introducing a new monetary system featuring standardised gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire.”

Analysts Foresee $1,300 Gold By Year-End Worries about a fragile U.S. economy are likely to keep investors shifting toward gold and could push the metal to fresh record highs near the $1,300 area by year-end, analysts and traders say.

Kicked In The Groin: Health Insurance Companies Are Dramatically Increasing Premiums Due To The New Health Care Law And There Is Not Much We Can Do About It Wasn’t the new health care reform law supposed to make health care more affordable for everyone? Well, imagine my surprise when I opened up a letter from my health insurance company recently and found out that my health insurance premiums were going up by nearly 50 percent.

geithner: Fannie, Freddie in need of overhaul (Washington Post) Now this is an understatement from tiny tim, God bless us everyone. I think tiny tim’s more concerned with public perception over their haul of taxpayer dollars.

Manufacturing, housing sectors exhibit diverging fortunes (Washington Post) I’d say understatement but I truly don’t know what this headline means juxtaposed with ‘fortunes’.

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

China Slashes U.S. Government Bond Holdings By The Largest Amount Ever China began reducing its holdings of U.S. government bonds again in June, and in fact cut just its holdings by the largest 1-month amount ever.

18 Signs That America Is Rotting Right In Front Of Our Eyes Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying.

Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’ As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically unscathed.

Tons of gold imports turn to dust on arrival Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Paul Joseph Watson | In the face of censorship, it’s more important than ever that people get the word out about Google’s plan to kill the web.

‘Bombshell Barack’ and ‘Kill Web’ Heading to Top of Google Trends Matt Ryan | Alex Jones would like to again thank everyone for their continued support in spreading the message of truth.

Google Plans To Kill Web In Internet Takeover Agenda Paul Joseph Watson | Doomsday scheme will silence independent voices for good.

Provocateurs Spray-paint “Infowars.com” on Private Property in Pennsylvania Kurt Nimmo | Fox News station in Pennsylvania insinuates Infowars.com behind incident.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Having at first appeared as normal, our earlier article about Google’s plan to kill the web has been completely de-listed from Google News. This is completely unprecedented and underscores how keen Google is to prevent people from finding out that it is a CIA-NSA front that is preparing to completely end the Internet as we know it with the Verizon net-neutrality killing deal.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`
`Death of the 'McMansion': Era of Huge Homes Is Over... Bankruptcies Reach Nearly 5-Year High... REPORT: China targets U.S. troops with arms buildup...`
`Military power growing...`
`Pentagon warning...`
`Risky game on the high seas...`
`How long can America fend off the dragon? 'Without a revolution, Americans are history'...`

From Good to Mediocre ‘Through last Friday, 2,127 US companies had reported quarterly numbers this earnings season. What started out as a strong earnings season is going out with a whimper (earnings season ends tomorrow with Wal-Mart's report)…’

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

Without a Revolution, Americans Are History The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”

How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO As if its rivals didn’t have reason enough to hate Goldman Sachs (GS), they’ve just been given one more reason.

China Favors Euro Over Dollar as Bernanke Alters Path Bloomberg | China, whose $2.45 trillion in foreign-exchange reserves are the world’s largest, is turning bullish on Europe and Japan at the expense of the U.S.

High Probability for Lower Market Prices Ahead ‘…Economic numbers being what they are (very poor), we should expect a downward revision of second quarter GDP to 1.5% from the originally disappointing number of 2.4%. As more data is being released it is apparent that we are witnessing even further deterioration here in the third quarter…We may have reached a tipping point where many are tired of others being the benefactors of taxpayer money …’

Gold Providing Safety During Market Downturn ‘ … The death cross occurs when the 50 day moving average crosses the 200 day moving average on the downside. These patterns, when combined with other technical indicators can predict major market downturns…THE ODDS OF A LONG TERM DOWNTREND ARE BECOMING HIGHLY PROBABLE. THESE SIGNALS COULD POSSIBLY INDICATE THE START OF A TWELVE TO EIGHTEEN MONTH DOWN CYCLE. Gold, on the other hand, has shown great relative strength despite the general markets correcting and negative sentiment about the economy from Washington…’

Pension check may not be in the mail Chicago Tribune | Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits

Back to School? Bring Your Own Toilet Paper New York Times | “The first time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper, said of the list, which also included perennials like glue sticks, scissors and crayons.

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Obama Says Private Accounts Would Endanger U.S. Social Security Benefits President Barack Obama said Republican proposals to have people invest Social Security benefits in private accounts would increase the U.S. budget deficit and put retirement money at risk to “the whims of Wall Street traders.”

The Trade Deficit Nightmare When they hear the word deficit, most Americans immediately think of the U.S. government budget deficit which is rapidly spiralling out of control.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal Reserve is undertaking a “dangerous gamble” by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

China surpasses Japan as world's No. 2 economy (Washington Post)   [ As if we didn’t see that coming! ]

Dr David Kelly was on a hitlist, says UN weapons expert as calls grow for full inquest Mail Online | Dr Richard Spertzel claimed Dr Kelly was on a ‘hitlist’ in the final years of his life.

Iran Attack This Week? Kurt Nimmo | John Bolton and the neocons refuse to accept that Iran’s facility will produce nuclear energy and insist it will be used to create nuclear weapons.

The Hidden Tragedy of the CIA’s Experiments on Children Shortly after deciding to initiate her own LSD experiments on children, Bender attended a conference sponsored by a CIA front group, the Josiah Macy Foundation.

Shilling for War on Iran I guess I was naïve in thinking that The Atlantic and its American-Israeli writer Jeffrey Goldberg might shy away from arguing for yet another war — this one with Iran — while the cauldrons are still boiling in Afghanistan and Iraq. Even world-class chutzpah must have its limits, I had thought.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

Drudgereport: `O FALLS TO NEW LOW AT GALLUP DAILY... China overtakes Japan as No. 2 economy...`
`China Favoring Euros Over Dollars...'Without a revolution, Americans are history'...`
`NEWSWEEK: World's Best Country: Finland [USA #11]...`
`House to cut food stamps to fund Mrs. Obama's 'let's move' initiative... Banks to benefit most from White House effort to fight foreclosures... Petraeus: 'We're doing everything we can' …[Sounds like a plan!]...`
`Builds Case for 'Success' in Afghanistan …[If only words could make it so!]...`
`Karzai asks Obama for review of war...`
`Foreign troops deaths pass 2,000... MYSTERY: West Wing of White House covered in tarp...`
`Harvard University fund sells all israel holdings... … UPDATE: Harvard insists israeli shares sale not driven by boycott... GOOGLEVERIZON Deal: Fears for Privacy...`

HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On Friday August 13, 2010, ‘… The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late

When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media

By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.

April 19, 2010 'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' - Bloomberg

April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal

April 27, 2010 'Greece contagion fears unfounded' - Reuters

May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' - Bloomberg

Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash

In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), UltraShort Russell 2000 ProShares (NYSEArca: TWM - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate

On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust

Even when basing the current P/E ratio on overly optimistic estimates, it is still far away from the P/E ratios seen at historic market bottoms. The same holds true for dividend yields. A look at various valuation measures shows that the market is overvalued by much more than just 10 or 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy…’

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract … After decades of abuse, it’s time for the Fed to take make a dramatic exit, because the US economy can’t take it anymore.’

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

The Dollar’s Third and Final Act LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful If you haven’t seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it’s going to feel like it is.

Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

States get grants to help regulate health insurance rates (Washington Post) Sounds like a plan … born of capital hill math; viz., ie., just sayin’, $1 million for a bureaucracy that will cost many millions, even as states like the nation itself are defacto bankrupt.

Regulators consider toughening overdraft rules even more (Washington Post) Wow! They’re tough … when talking millions instead of the hundreds of billions of taxpayer funds they’ve frittered away. You can’t make this stuff up!

Barclays Bank agrees to forfeit $298 million to authorities (Washington Post) Well, they haven’t gotten to the point just yet where it’s just not worth doing business in america, but they’re workin’ on it and getting’ there!

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Makeup of Obama's housing reform panel draws ire (Washington Post) [Wow! Talk about late to the party! I mean … a conference? It’s not as if this was some new or novel problem coming down the pike. Then there’s the everything but the core issue / problem approach that seems recurringly fashionable.] Advocates say that the administration is excluding consumer and community groups from playing prominent roles in a government-sponsored conference next week that will kick off efforts to overhaul national housing policy.

Economic indicators reflect weak recovery (Washington Post) [Recovery? I say they’re dreamin’! So does Schiff, (Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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 ).

Warnings: Social Security at risk (Washington Post) [ Not this again! It bears repeating, that was always a bad idea and there was a plethora of reasons set forth on my site as to why the social security privatization plan being shilled by moron war criminal dumbya bush on behalf of the wall street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as america / the social security system is, the nation and system would have been wiped out by privatization debacle. Talk about too big to, but still failed. It was a bad idea then, and though accusations may fly as to fear mongering, the reality of the venality attendant to such a preposterous course on behalf of the wall street frauds requires vigilance, scrutiny, and discourse concerning even the remote possibility of such a fool-hearty betrayal of the citizenry of the nation. As such, as off the mark as wobama has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama says GOP wants to privatize program, but liberals see a different threat.

Foreclosures surge 9 percent in July (Washington Post) Those glass-half-full frauds on wall street along with the administration will be cheering this unequivocally bad news with a dubious retort as ‘used home sales will rise’ … riiiight! Anything you say …

Stocks dip for third straight day (Washington Post) [Investor fears? How ‘bout reality. Even an essentially non-business site as Drudge has the pulse of this pervasive realization that ‘those dogs of happy days are here again don’t hunt no more’. Check the heads: `DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments... DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... and`Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression. `My take:` This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed

Pearlstein: The FCC and the bandwidth wars (Washington Post) [The internet has been among the few areas of growth and american prominence, at least at this point in time. Clearly, as with the throng that heralded in NAFTA, the self-interested voices of ie., google, verizon, etc., are similarly anathema to the greater good (as was NAFTA). Berners-Lee spoke against such parochialism in no uncertain terms, much as did Ross Perot on NAFTA and history has proven Perot correct as is so of the mind numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

AP Business Highlights ‘Jobs picture dims as unemployment claims rise WASHINGTON (AP) -- The economy is looking bleaker as new applications for jobless benefits rose last week to the highest level in almost six months. It's a sign that hiring remains weak and employers may be going back to cutting their staffs. Analysts say the increase suggests companies won't be adding enough workers in August to lower the 9.5 percent unemployment rate. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. That's the highest total since February. Analysts had expected claims to fall…’

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

8-23-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

How to Get Through This Mess ‘… U.S. RECESSION NEVER ENDED; GDP TO CONTRACT IN Q3 Our suspicions have been confirmed - the recession never ended. Macroeconomic Advisers produces a monthly U.S. real GDP series and it shows that the peak was in April, as we expected, with both May and June down 0.4% in the worst back-to-back performance since the economy was crying Uncle! back in the depths of despair in September-October 2008. The quarterly data show that Q2 stands at a +1.1% annual rate (so look for a steep downward revision for last quarter) and the 'build in' for Q3 is -1.5% at an annual rate. Depending on the data flow through the July-September period, it looks like we could see a -0.5% to -1% annualized pace for the current quarter. Most economists have cut their forecasts but are still in a +2.5% to +3.5% range. What is truly amazing is that despite all the fiscal, monetary, and bailout stimulus, the level of real economy activity, as per the M.A. monthly data, is still 2.5% below the prior peak. To put this fact into context, the entire peak-to-trough contraction in the 2001 recession was 1.3%! That is incredible. Interestingly, and dovetailing nicely with our deflation theme, nominal GDP fell 0.3% in May and by 0.4% in June. This is a key reason why Treasury yields are melting … Bottom line? It is going to be a tough environment for the next 6-8 years. That is just what happens when you have a deleveraging / balance sheet / deflationary / end of the Debt Supercycle recession. It is what it is, and no amount of wishing or finger pointing can change the facts … ‘

Hardship 401(k) withdrawals set record in second quarter: More workers also borrowing from their accounts (Washington Post, August 22, 2010) [ Clearly an instance where ‘better late than never’ doesn’t quite do it … ‘better now than late or never’ is a bit better as the following see that old tune, ‘ The Big Hurt’, reaching once again number 1 on the billboard charts. ]

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can!

100-Year Bonds --- Sign of Trouble?

Monday in the Markets: MOJO Extremes The decline in yields is overdone, gold is overbought, and crude oil and the euro are oversold. The Dow is not oversold.The yield on the 10-Year US Treasury tested 2.531 on Friday versus my quarterly risky level at 2.495. Gold tested $1239.5 last week and today’s risky level is $1241.7. For Crude oil this week’s pivot is $73.59 with my annual pivot at $77.05. The euro is below its 50-day simple moving average at 1.2739 this morning. For the Dow today’s value level is 9,983 with the 50-day simple moving average at 10,303, and weekly and annual pivots at 10.358 and 10,379. 10-Year Note – (2.612) My annual pivot is 2.813 with a weekly pivot at 2.574 and daily risky level at 2.507. My annual value level is 2.999 with quarterly and semiannual risky levels at 2.495 and 2.249. Note that the decline in yield is extremely overdone [charts] …

Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt Nimmo | Infowars.com readers believe the monetary policies of the Federal Reserve will push the country into another depression.

Even Tony Robbins Is Warning That An Economic Collapse Is Coming It seems like almost everyone is warning of a coming economic collapse these days.

Alex Jones Exposes Google’s Plan to Dominate the Internet Infowars.com | Google’s takeover agenda will control the world wide web and force independent media websites, radio and TV shows out of existence for good.

Ron Paul: Let the Housing Market Normalize! Dr. Ron Paul | There seems to be a growing consensus in favor of abolishing Fannie and Freddie. This is the good news.

Americans Using Their Rainy Day Savings to Live Rebel Traders | The reality of the ‘real economy’, as measured by people, not Wall Street, is a deteriorating economy where any source of funds is fair game to be tapped into.

The Never Ending Recession Mr. Rosenberg believes we could see a negative GDP print THIS quarter. And if he’s right that means analysts are far too optimistic about the upcoming quarter.

Economic forecaster: ‘Greatest Depression’ coming Collapse of middle class means there’s no fuel for recovery, Gerald Celente argues.

Second Hindenburg Omen Confirmation In As Many Days, Third H.O. Event In One Week Longs may be forgiven if they are sweating their long positions over the weekend: not only did we just have a second, and far more solid Hindenburg Omen confirmation today.

Jim Rogers: If You Want Your Family To Be Silly Rich In The Future, Then Leave America And Move To Asia Now As you may know, Jim Rogers moved to Singapore in 2007, though he maintains a residence in the U.S. as well.

Portions of the Gulf are So Toxic that Dolphins, Fish, Crabs, Stingrays and Other Animals are “Trying to Crawl Out of the Water” Danny Ross, a commercial fisherman from Biloxi… said he has watched horseshoe crabs trying to crawl out of the water, and other marine life like stingrays and flounder trying to escape the water as well. He believes this is because the water is hypoxic.

Karzai: Private contractors ‘looting and stealing,’ working with terrorists Afghan President Hamid Karzai on Sunday defended his decision to ban private security contractors from operating in public in Afghanistan, saying many of the organizations tasked with providing security are engaging in terrorist activities, working with “Mafia-like” organizations and “looting and stealing from the Afghan people.”

Housing Fades as a Means to Build Wealth, Analysts Say Many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century.

Why “Fair Play” In A Central Bank Interventionist World Is A Doomed Strategy Today’s special report by Faros Trading summarizes the pathetic, uber-interventionist world we live in.

Hussman: Bernanke’s Quantitative Easing Is About To Trigger A Collapse In The US Dollar In his latest weekly letter, John Hussman warns of an imminent and disorderly collapse of the US dollar, courtesy of Ben Bernanke’s move towards more quantitative easing.

INSIDER TRANSACTIONS (Washington Post, August 23, 2010) Stock market ends down for second straight week (Washington Post) [Yeah! There should be no surprise here. Such is the scenario that bear markets are made of and Maierhofer shows the math to prove it (infra), Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners … Sell / Take Profits while you still can! ]

Washington looks tantalizing to New York (Washington Post) [ I’m surprised to see this ‘old news’ here since it’s widely known that the wall street frauds, goldman et als, have garnered near vampire legendary status by way of their infamous blood (taxpayers) / treasury draining ways. Tantalized? I’d say consumed. ]

Federal contractors team up with tech giants (Washington Post) [ Clearly the end of an innovative tech sector as blood-sucking, treasury draining corporate welfare artists show them how to get something for nothing but self-perpetuating, self-created needs that aren’t really needed! ] For traditional government contractors, the appeal of working with commercially successful companies such as Google or Apple is clear.

Drudgereport: `Philly requiring bloggers to pay $300 for 'license'… [ There are a plethora of reasons to leave philly and this is just another ] ...`
`WHAT BUDGET CRISES?      LA UNVEILS $578 MILLION SCHOOL [ Come on! In California it’s always about the private contracts with public money from public office holding slugs ]Gold bullion stolen from Florida treasure museum [ I personally believe that beyond the ‘gold-plate’, Fort Knox has already been looted! ] ...`

Wikileaks’ Assange: Pentagon may be behind rape claims Agence France-Presse | [ This story smacks of american modus operandi as alternative to outright murder / assassination. Enemy of the State Lew Rockwell | It’s been clear for some time that the Pentagon would love to put a bullet in Julian Assange’s brain. ] Wikileaks founder Julian Assange said in an interview published on Sunday that he believes the Pentagon could be behind a rape accusation against him that was later dropped by Swedish prosecutors.

Gulf Oil May Not Degrade for Decades Washington’s Blog | Scientists have found an underwater oil plume that is more than 22 miles long, more than a mile wide and 650 feet deep.

Yet another Soros tentacle exposed Jim Wallis, the man behind the so-called “religious left” – a left wing evangelical activist who worked to get evangelical support for Obama — has been exposed as another stooge of George Soros.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman*:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Bombshell: Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA files that document the agency’s connections to the lives of Barack Obama and his mother, father, grandmother, and stepfather.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Having at first appeared as normal, our earlier article about Google’s plan to kill the web has been completely de-listed from Google News. This is completely unprecedented and underscores how keen Google is to prevent people from finding out that it is a CIA-NSA front that is preparing to completely end the Internet as we know it with the Verizon net-neutrality killing deal.

Google Plans To Kill Web In Internet Takeover Agenda The net-neutrality ending deal with Verizon is just the beginning of Google’s plans to kill the open and free Internet as part of their takeover agenda to completely control the world wide web and force independent media websites, radio and TV shows out of existence for good.

Obama’s pledge to close down Guantanamo is ‘not even close’ Barack Obama’s pledge to shut down Guantanamo Bay will not be honoured until at least a year after the President’s self-imposed deadline – and may not be completed in his first administration.

US-Vietnam Military Drills Crank Up Tensions With China The U.S. Navy just began military exercises with Vietnam in the South China Sea and China, which had in the past been more accepting of the U.S.’ naval power in the region, is now showing its anger, according to The Asia Times.

Poll: ‘No’ to US wars at all time high A new opinion poll says the number of Americans opposed to the US wars in Afghanistan and Iraq is at an all time high.

Ground Zero Mosque Imam Is Globalist Stooge Steve Watson | CFR member receives financial backing from who’s who of global corporate elite.

Alex Jones and MSNBC’s Hit Piece: The Lost Footage Infowars.com | The “rest of the story” found its way on YouTube and Alex Jones’ Facebook page.

Two Films That Blew Bilderberg Wide Open Paul Joseph Watson | Fidel Castro’s spotlight on the Bilderberg clique is part of a global awakening to the new world order.

Zionist Lobby Paid Off U.S. Journalists To Sell Israeli Foreign Policy Paul Joseph Watson | Declassified documents take on deeper significance in light of Jeffrey Goldberg and The Atlantic Monthly’s efforts to propagandize for an attack on Iran.

The Ground Zero Mosque and Property Rights Kurt Nimmo | The issue is not terrorism or 9/11, but the sanctity of the individual and his property.

Orwell in charge? Kucinich compares Iraq ‘exit’ to Bush’s ‘Mission Accomplished’ “Who is in charge of our operations in Iraq , now? George Orwell? A war based on lies continues to be a war based on lies. Today, we have a war that is not a war, with combat troops who are not combat troops. In 2003, President Bush said ‘ Mission Accomplished ‘ . In 2010, the White House says combat operations are over in Iraq , but will leave 50,000 troops, many of whom will inevitably be involved in combat-related activities.

High-tech carts will tell on Cleveland residents who don’t recycle … and they face $100 fine The chips will allow city workers to monitor how often residents roll carts to the curb for collection. If a chip show a recyclable cart hasn’t been brought to the curb in weeks, a trash supervisor will sort through the trash for recyclables.

Zionist Lobby Paid Off U.S. Journalists To Sell Israeli Foreign Policy Newly declassified documents highlighting how the Israeli lobby routinely paid off journalists in the U.S. corporate media to write pro-Zionist propaganda in support of Israeli aggression against Palestine and Iran during the 60’s have taken on new significance after the Atlantic Monthly, which is named in the documents as being complicit in the bribing scandal, recently published a cover story hyping the necessity and inevitability of an Israeli attack on Iran.

CIA Launches “Counterproliferation Center” as Iran Attack Rhetoric Kicks Into High Gear Kurt Nimmo | CIA will peddle propaganda required to sell the increasingly irrelevant American people future wars.

Ron Paul: The American Empire Can’t Afford Another War Infowars.com | Alex welcomes back Congressman Ron Paul to the show to discuss the latest on Iran, legislation in the house, and more.

Air Force Issues Memo Warning Soldiers, Employees Not to Read WikiLeaks Docs Kurt Nimmo | Memo confirms that the Pentagon is monitoring web activity of its soldiers and employees.

9/11 Heroes Blast Obama: Forget The Mosque, We’re Dying Hero 9/11 first responders, many of whom are sick and dying, have slammed Obama in an open letter for ignoring their plight while taking the time to outline views on a proposed mosque close to ground zero, the site of the 2001 attacks that felled the twin towers.

Chaos Erupts in California as Over-Taxed Residents Express Outrage The city of Bell, CA has recently been exposed for having corrupt and overpaid city officials receiving salaries larger than the President of the United States. Residents who have recently learned they were over-taxed to pay for the government workers took control of a City Council meeting and demanded resignations.

China Reacts Angrily To Pentagon Report Beijing reacted angrily Wednesday to a Pentagon report expressing worries about China’s burgeoning military capabilities, calling such concerns baseless.

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Former Pakistani Intel Chief Fears World War Three Is Imminent Former Pakistani General and intelligence chief Hamid Gul appeared on the Alex Jones Show yesterday for a full hour in what turned out to be a fascinating extended interview, addressing the major geopolitical issues that are shaping modern history.

Neocon Bolton Renews Call for Israel to Bomb Iran Last Friday the former interim UN ambassador during the Bush administration went on Fox News and warned that if Israel did not conduct a bombing raid against Iran’s nuclear energy program within a few days, the window of opportunity would be lost. Bolton made his comment following a report last week that Russia will begin loading nuclear fuel at Iran’s Bushehr reactor on July 21.
Google search: ‘bolton, neocon, mental problems’ About 143,000 results (0.37 seconds)
Here’s the first of many pages. Yeah … he’s that bad / psychotic!
· Think Progress » John Bolton jokes about nuking Chicago, entire ...

Feb 26, 2009 ... Bolton, the NEOCON gift that keeps on giving the Repuglycans zero ... The problem with McCain was this. As a veteran and a POW he get's high marks. ..... to get some treatment at the closest mental health facility. ...
thinkprogress.org/2009/02/26/bolton-nukes-chicago/ - Cached - Similar

· Think Progress » Even After North Korea Frees American Journalists ...

Aug 4, 2009 ... Bolton, like all neocons, doesn't understand that there is ..... Of course, we all know it was BUSH who caused the problem in the first place, right? .... they view the world in the light of their own mental disorder, ...
thinkprogress.org/2009/08/.../bolton-north-korea-journalists/ - Cached - Similar

Show more results from thinkprogress.org

· Breaking: Neocon John Bolton Names Dick Cheney "Conservative Of ...

Dec 21, 2009 ... Re: Breaking: Neocon John Bolton Names Dick Cheney "Conservati ... republicanism/conservatism is a mental illness that is killing America and ... Problem is one side will shamelessly try and stack the deck in their favor ...
crooksandliars.com › Blogs › Logan Murphy's blog - Cached - Similar

· John Bolton's Astonishing Neo-Neo-con Rewrite of History ...

Apr 17, 2007 ... On March 25, John Bolton was interviewed by BBC Newsnight's Jeremy Paxman (video here). ... I think the real problem was in not relying more on Iraqis. .... BTW, a mental giant, you are not. The best thing to happen to ...
www.democrats.com › Blogs › Bob Fertik's blog - Cached

· Bolton suggests nuclear attack on Iran « LobeLog.com

Bolton and his neo-con crazies aren't setting the agenda anymore, ... And I do not mean the mental condition of Mr Bolton and his fellow neocons. ...
www.lobelog.com/bolton-suggests-nuclear-attack-on-iran/ - Cached - Similar

· Don't Hold Your Breath, Ambassador Bolton - Atlas Shrugs

May 26, 2009 ... It's a special kind of mental illness. ... Bolton has been derided as "the neocon's neocon" who "laps up the hosannas of fellow ...
atlasshrugs2000.typepad.com/.../dont-hold-your-breath-ambassador-bolton.html - Cached

· The BRAD BLOG : The Fall of the NeoCons: Bye Bye Bolton

Dec 4, 2006 ... Clyburn: E-Vote 'Hacked'; Rawl: 'Systemic Software Problems' .... Add 'The Fall of the NeoCons: Bye Bye Bolton' to Del.icio · Add 'The ... The Army's Lack of Mental Health Treatment for Returning Troops" NEXT STORY » ...
www.bradblog.com/?p=3873 - Cached

· Ambassador John Bolton: Israel Has 8 Day Deadline to Attack Iran ...

30 posts - 4 authors - Last post: 21 hours ago

"Religion is science for the mental ill" - Myself ... John Bolton is a Bush neo con,,, obviously broke and needing the money. ...
www.godlikeproductions.com/forum1/message1163684/pg2

Get more discussion results

· [World Wide News Flash] Bolton

New article on darkpolitricks: Neocon Bolton Renews Call for Israel to Bomb Iran http: darkpoltweeter (Dark Politricks RT): New article on darkpolitricks: ...
www.wwnewsflash.com/bolton

Get more results from the past 24 hours

· [PDF]

The Neocon Factor in - The Zealots of Dominance: The Neocon Factor ...

File Format: PDF/Adobe Acrobat - Quick View
a sweeping diagnosis, it's clear that mental health has been a problem within ...... Neocon icon John Bolton, Bush's abrasive former Ambassador to the UN, ...
www.sf911truth.org/neocons.pdf

Ban Ki-moon’s Top Advisor: Scientific Elite Should Spearhead Global Population Control “The fertility reduction and stabilization of population is crucial. He (Sachs) concluded by urging for the adoption of a globally agreed action plan at next year’s Summit to achieve the MDGs by 2015, and proposed to form Working Groups with members of the delegations around particular themes. He characterized this effort as not negotiation, but as global problem solving and suggested that the Working Groups would brainstorm on the globally agreed plan.”

Obama, the one-term president [ The fact is, as I’ve previously commented, he’s ok with and has already accepted his one-term ‘being there’ failed presidency which explains his huge divergence from his promised change, among other promises and the false expectations he created thereby. He lacks courage, of course; but that’s become so typically american and he’s very typical. ] Q: Will Barack Obama be a one-term president? A: Yes, he might last that long.

Internet Kill Switch Bill Moves Closer To Senate Vote An Internet kill switch bill that would give President Obama the power to shut down parts of the world wide web for a period of at least four months without congressional oversight has moved closer to a Senate vote, with one of its primary advocates, Democratic co-chairman of the House Cybersecurity Caucus Jim Langevin, threatening a “cyber-9/11″ if the legislation is not quickly passed.

AT&T claims net neutrality is oppressive US TELECOM AT&T has come out in support of Google’s contention that wireless communications are different than wireline Internet services.

On Facebook: Israeli soldier posed with bound Arab (AP)

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Military Industrial Complex: Of 158 retired generals advising wars, 80% tied to defense industry; 29 are defense CEOs USA Today | Of the 158 retired generals and admirals identified as mentors, 80% had financial ties to defense contractor; 29 were company executives.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Obama Approval Rating Revisits Rock Bottom Despite Positive Media Spin Despite positive corporate media spin amidst a cacophony of criticism from both sides of the political spectrum, Barack Obama’s approval rating matched its record low today according to Rasmussen Reports.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

China focuses on military might (Washington Post) [And the big difference here (between them and defacto bankrupt america) is that ‘THEY CAN AFFORD IT’ and are not fighting nation-bankrupting, anti-american-sentiment-creating wars all over the place.] Nation is quickly modernizing forces, extending influence deep into Pacific and Indian oceans.

Karzai wants private security firms out of Afghanistan: KARZAI WANTS COMPANIES OUT U.S. calls 4-month deadline 'very challenging' (Washington Post) One too many civilian killed. Maybe they figured out that american non-strategy employing the Hegelian methodology of creating problems that American firms can solve. Doomed to failure, they eventually catch on. The bushes were famed for same but wobama has foolishly been no slouch in this regard.

Afghans still see U.S. as bad guy (Washington Post ) [Riiiiight! Sounds like a plan … winning hearts and minds throughout the world … great for exports also as such ‘won hearts and minds’ just love to buy american.] American, NATO forces retain blame for civilian deaths despite spike from insurgent violence.

U.S. looks to replicate Iraq strategy, tactics (Washington Post ) [Oh right! Stick with that winning plan that worked so swimmingly (as in drowning, in ie., debt, death, regional if not wordly anti-american sentiment, etc.)]. In Kandahar, U.S. military officials hope that a secure green zone, similar to the area in Baghdad, will make it more difficult for Taliban insurgents to mount attacks to key buildings in the Afghan city.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

8-20-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Chiacgo's ShoreBank fails, is bought by investors Chicago Tribune - Chicago-based ShoreBank, which for more than three decades made loans to South and West siders who might not have gotten financing elsewhere to buy homes, apartment buildings and start businesses, failed Friday. Regulators shut big Chicago-based bank BusinessWeek Regulators shut down big Chicago bank, 7 others The Associated Press ‘… The FDIC also seized seven other banks Friday, bringing to 118 the number of U.S. bank failures this year amid the recession and mounting loan defaults …The FDIC also took over Community National Bank at Bartow, in Bartow, Fla.; Independent National Bank of Ocala, Fla.; Imperial Savings and Loan Association of Martinsville, Va.; and four California banks: Butte Community Bank, based in Chico; Pacific State Bank, based in Stockton; Los Padres Bank, in Solvang; and Sonoma Valley Bank, in Sonoma. …’ Reuters - Bloomberg - Los Angeles Times (blog) - Richmond Times Dispatch

U.S. Stock Market - T. Rowe Price / Week Ended August 20, 2010 The large-cap stock indexes fell for the second consecutive week, but the smaller-cap indexes and the technology-oriented Nasdaq managed minor gains. Stocks moved solidly higher on Tuesday as investors welcomed news of a major takeover offer in the mining industry alongside news of surprisingly good earnings at retail giant Wal-Mart. Investors were also encouraged by reports of rises in wholesale prices and industrial production in July—positive economic data that stood in contrast to a recent string of reports showing a slowdown in the economic recovery. Those worrisome signals reappeared on Thursday, however, when the Labor Department reported a rise in weekly jobless claims to 500,000, the highest level since last fall. A surprising and significant decline in a gauge of a regional manufacturing activity also weighed on sentiment and overshadowed news of a major merger in the technology sector. Stocks fell further on Friday in response to a decline in the euro, but hopes for further merger activity appeared to help limit losses as the trading week came to a close.

U.S. Stocks¹

Index²

Friday's Close

Week's Change

% Change
Year-to-Date

DJIA

10213.62

-89.53

-2.06%

S&P 500

1071.69

-7.56

-3.89%

NASDAQ Composite

2179.76

6.28

-3.94%

S&P MidCap 400

736.52

1.93

1.35%

Russell 2000

610.67

0.82

-3.69%

World Indices / Week ended August 20, 2010 Yahoo Finance

BEAR MARKET MATH - JULY LOWS IN DANGER Simon Maierhofer, On Friday August 20, 2010, 4:53 pm EDT ‘
1+1=2
2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this equation?
Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower Stock Prices. This calculation also seems to be simple and accurate. Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices Earnings season is over. Most companies beat earnings but issued cautious forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF - News). By large, profits are still driven by cost-cutting, not organic growth. Retail sales, which make up about one third of the economy, continued to fall after the second quarter ended. Additionally, the expectation that taxes will go up might have moved some companies to pull some of next year's income into this year. This can't be good for Q3 and Q4 profits. As the chart below shows, positive earnings reports are not bullish for stocks, especially if future guidance is weak.[chart]

2+2=5 or Weaker than Expected Economy = Rising Stock Prices On July 30, the Bureau of Economic Analysis (BEA) lowered the previous quarter's Gross Domestic Product (GD) growth from an estimated 2.7% to 2.4%. But it didn't stop there. The real GDP for all three previous years was revised as well. It was lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA proved that the recession was (or is) much deeper than perceived and the alleged recovery much weaker than previously reported. This comes as no surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR - News) - remains in a funk. The U.S. Census Bureau reported that the number of vacant properties, including foreclosures, residences for sale, and vacation homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can make money on the same kind of loans that pushed Fannie and Freddie to the brink of ruin? Since bad real estate loans triggered the post 2007 economic meltdown, how can the economy recover without real estate leading the way?

3+3=7 or Positive Analyst Estimates = Higher Stock Prices A recent Associated Press article observed that 'analysts only seem to hit the mark with their estimates in the strongest economic times (2003 - 2006).' Why? 'The problem is that analysts get most of their information from the companies they cover. Corporate managers have every incentive to stay positive for as long as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP: ^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq: ^IXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since 1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit Strategy Newsletter stated that 'the potential exists that Monday's high marked a significant top.' Since April, the broad market (NYSEArca: TWM - News) dropped as much as 17%. In March 2009, with the Dow below 7000 and the S&P below 700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert and recommended to buy long and leveraged long ETFs such as the Ultra Financial (NYSEArca: UYG - News) and Ultra S&P 500 ProShares (NYSEArca: SSO - News). If you care to know, analysts estimate that earnings for the S&P 500 will exceed their 2006 all-time high, in 2011. Based on that assumption, stocks are cheap. How about that for flawed math?

4+4=9 or Technical Sell Signals = Higher Stock Prices The 200-day moving average (MA) is one of the best-known technical indicators, as it provides delineation between technically healthy and sick stocks. On May 20, the S&P closed below the 200-day MA for the first time since late 2007. Every attempt to rally and stay above it has since failed miserably. On July 2, the 50-day MA for the S&P dropped below its 200-day MA for the first time since late 2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca: IWM - News) and nearly all individual sector indexes. For good reason, this is called a Death Cross. Over the past ten years, the death cross has been accurate 75% of the time, with a 19.72% average return on six winning trades and 6.95% average return on two losing trades. In addition to the Death Cross, there are two head and shoulders patterns, one in the making for over 10 years, and the other has the breadth suggestive of a major meltdown (see September ETF Profit Strategy Newsletter).

5+5=11 or Overvalued Stocks = Higher Prices As explained above, based on overly optimistic earnings estimates, analysts believe that stocks are cheap. Rather than basing a future outlook on estimates, it makes sense to use facts as a foundation for any outlook. Why add an extra variable to what's already an unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive research on the subject of valuations, and he'll tell you stocks are historically overvalued based on the current P/E ratio. Compare today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued by more than 50%. Another gauge that doesn't lie is dividend yields. A company's dividends are a direct reflection of cash flow and financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P. Even value funds like the iShares Russell 1000 Value (NYSEArca: IWD - News) yield only a measly 2.08%. Dividends are close to their all-time low set in 1999 (we know what happened then). This means that companies are cash strapped or overvalued. Looking at a long-term chart of dividend yields plotted against stock prices shows clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw unless the temperature moves above 32 degrees, the economy won't thaw and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels seen at major market tops. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics, along with short-term target ranges for stocks and the ultimate market bottom. Based on simple math and common sense, the July lows are certainly in danger. But it doesn't stop there.’

DOES HISTORY REPEAT, RHYME OR JUST HAVE COINCIDENCES?   Lounsbury: ‘This week the following graph from Chartoftheday.com has been annotated by the author to highlight similarities of the current era for stocks to a corporate earnings pattern traced out nearly a century ago. [chart] Annotation by John B. Lounsbury August 20, 2010 The time scale of the current era (right hand oval) is compressed relative to that of a century ago, but the occurrence of extremes displays a remarkable similarity in pattern with events 1-4 from 1907 to 1921. It is tempting to project that the rest of the pattern could repeat, but I refer you back to the title question. Perhaps the replication of events 1-4 is as far as the current pattern will go. Or perhaps the pattern replication is pure coincidence. I am not aware of the data source for the graph above since the S&P 500 has only a 60 year existence. Data before 1950 must be created by simulation. The most widely recognized simulation has been constructed by Prof. Robert Shiller, Yale University and this may well be the data used. The pattern of graph in the 1920s and early 1930s implies that the collapse of earning in 1921 might have resulted from structural economic problems that were insufficiently addressed in the years that followed, resulting in the subsequent economic breakdown from 1929-32. One economic occurrence of the 1920s was the concentration of income and wealth in the hands of a few. This is a phenomenon that has occurred again over the last 10-20 years and appears may still be in progress. See the following graph from Emmanuel Saez: (chart) I would suggest that the question of distribution of income is one that deserves more analysis and discussion. Is there a healthy distribution? Do high concentrations of income to a few (such as the 1920s to 30s and 1995 to 2000s) present signs of economic instability? Or do they contribute to economic instability? Are there any other major contributors to income distribution besides the obvious one of federal income tax policy? For example, is the rise of high income concentration in the 1990s the result of a flurry of innovation in the new information technology? Or, is the rise of the 2000s the result a flurry of financial innovation? Considering the two flurries of the preceding paragraph, are both positive for promoting a growth of economic activity? If you peel the speculative gains out of the 1990s, the result was a revolution in communications and commerce. Some of the growth in high incomes was from speculation, but that was quickly stripped out on the collapse of the dot.com bubble. I maintain that there was a residual economic benefit from the dot.com bubble. Things of economic utility were produced. I have difficulty in coming to a similar conclusion for the credit bubble of the 2000s. Has anything of economic utility resulted? I have not found it. And counter to the effect of the dot.com collapse, the credit bubble collapse may not have stripped out some of the speculative income excesses. Wall Street bonuses are back to pre-crisis levels and there has been no "claw-back" of ill-gotten gains from the pirates who seized the economic ship. In fact, the pirates are still in command of the ship and are still under full sail. Yo ho ho and a bottle of rum! From my first Treasury report:

… the problem was that our systems, especially in finance and health care, are too heavily focused on pay for transactions rather than pay for outcomes. I didn’t have the presence of mind to bring instant gratification into the discussion, but that would have certainly made my thought process clearer.

I don't think this created any waves, but I will continue to wail in the wilderness about how compensation formulas contribute to and compound the structural problems in our financial system. So, back to the earnings chart that started this discussion. In view of what has been discussed here I believe we will find that history, in this instance, will at least rhyme, if not repeat exactly. Structural economic problems are sufficiently similar for the two eras that I expect we will see some form of recurrence of events 5 and 6 [Depression] …’

Hindenburg Omen Confirmation #1 Today we got our first Hindenburg Omen confirmation. The number of new highs was 136, and new lows was at 69 (per the traditional WSJ source).

Greek crisis refuses to go away The European Commission has approved the next €9bn (£7.4bn) tranche of loans for Greece but the underlying economy continues to deteriorate as Greek banks suffer a record loss of deposits and output contracts at a quickening pace.

We Killed The Goose That Laid The Golden Egg For middle class Americans, the new global economy has provided mountains of cheap products made in China, India and dozens of other nations, but it has also killed the goose that laid the golden egg.

Grim future for young workers in ‘pensioner ghettos’ Telegraph | Parts of Britain could become retirement ghettos within a generation with three retired people for every four in work, a report warns.

Is Our Money Based on Debt? Robert Murphy | The first thing to realize is that the Fed can control the size of the monetary base, but it can’t directly control its composition.

Obama Lied About Stimulus Dollars Aiding Local Project A local project that President Barack Obama cited during a visit Wednesday to Columbus as an example of how the federal stimulus package has worked isn’t actually being funded with stimulus dollars.

Black Swans Need Not Apply (6 Reasons Why the Economy is Going Down) Louis James | My New York adventures are signs of an approaching gold mania, not a present one. But I believe more firmly than ever that it’s coming.

DISMANTLING BULLISH ARGUMENTS Simon Maierhofer, On Thursday August 19, 2010, 4:24 pm A good friend of mine let me in on a well-guarded investment secret. $1,000 invested each in Nortel, Delta Airlines, Enron and Worldcom years ago, would be worth less than $100 today. But if you had purchased $1,000 worth of wine, consumed the fermented grapes and returned the bottles for the recycling refund, you would have around $200, in addition to a good time. With the tech (Nasdaq: ^IXIC) and financial (NYSEArca: XLF - News) meltdown out of the way, many believe that the time of bottle recycling refunds outperforming stocks has passed. There is some evidence though that loading up on wine - at least to dull the pain of another decline - isn't a terrible idea. Let's examine both points of view.
Bull Market Argument #1 - Stocks are Cheap Even though the economy is in the worst shape since the Great Depression, economists at large believe that stocks (NYSEArca: IVV - News) are cheap. In fact, with the S&P (SNP: ^GSPC) trading above 1,200, analysts claim that stocks are the cheapest since 1990 (Bloomberg, April 26, 2010). Quite to the contrary, on April 16, in no uncertain terms, the ETF Profit Strategy Newsletter stated: 'at current earnings, prices and dividend yields, stocks are not cheap. The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' If stocks were cheap at S&P 1,200, they must be dirt-cheap at S&P 1,100. Cheap based on what assumption though? Based on analysts' projections, earnings for the S&P 500 are to reach an all-time high in 2011, surpassing even the 2006 peak. Since earnings make up half of the price/earnings (P/E) ratio, stocks appear cheap based on record projected earnings. The key word is 'projected.' A recent Associated Press article states that 'their track record shouldn't give anyone confidence. History shows analysts rarely get it right when it comes to predicting how much companies will earn. Analysts almost never see a recession coming.' Looking at data from the last 25 years, research from the consulting firm McKinsey & Co. found analysts have estimated annual earnings growth to be about 10 - 12% for the S&P. Actual growth has only been about 6%. Keep in mind that the past 25 years housed the biggest bull market in American history. We've previously analyzed the folly of relying on projected earnings forecasts and therefore, will only pose two more facts as food for thought before moving onto the next argument. Even if earnings are positive the market can decline, as we've seen with the 9% and 17% declines in January and May. Most of the earnings growth has been fueled by cost-cutting, not organic growth. What does that tell us about the sustainability of growth?
Bull Market Argument #2 - Cash on the Sidelines Cash on the sideline is viewed as bullish because, theoretically, it can be used to buy stocks and drive up prices. Some distinguish between corporate cash and retail cash on the sidelines. Many forget that for every dollar in cash, there is a debt that has to be repaid. According to the Federal Reserve, nonfinancial firms' debt totals $7.2 trillion, the highest level ever. As far as retail investors go, the current debt-income ratio is at 126%. The pre-bubble average was around 70%. To get back to the pre-bubble norm, about $6 trillion worth of debt would have to be eliminated. Retail money in money market funds is currently around the same level as it was in 2006/2007. Is that bullish?
Debunking the Bond Myth No doubt there's been a migration from investment dollars out of stocks and into bonds and gold. The iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEArca: LQD - News), iShares iBoxx $ High Yield Corporate Bond ETF (NYSEArca: HYG - News) and SPDR Barclays Capital High Yield Bond ETF (NYSEArca: JNK - News) have benefited from this migration. It's generally perceived that money in bond funds is safe. Did you know that corporate bonds dropped as much as 27% in 2008? Did you know that junk bonds dropped as much as 47%? To assume that money stored in bond funds will always be there to buy stocks is nave. The current bond yields, in fact, confirm the notion that bonds are reaching bubble territory. The yield of inflation protected 10-year TIPS has dropped below 1%. The iShares Barclays TIPS Bond ETF (NYSEArca: TIP - News) is close to its all time high. The risk in 10-year Treasuries is high as well. If 10-year Treasury yields rise from 2.8% to 4%, bondholders would suffer a loss that would equal three times the current yield. That's not catastrophic, but not bullish for stocks either. Bonds - especially corporate high yield bonds - could soon assume the role real estate had in 2006. Many thought that real estate (NYSEArca: IYR - News) will always go up. As it turns out, real estate prices can move in both directions, as can bond prices.
A Closer Look at Gold What about gold? With nearly $40 billion in assets, the SPDR Gold Shares (NYSEArca: GLD - News) has become the second biggest ETF behind SPY. The iShares COMEX Gold Trust (NYSEArca: IAU - News) exists in the shadow of GLD. It is unlikely that money that has moved into gold will flow back into equities. If gold is at the brink of a bull market, there is no reason for investors to pull money. If the economy does deteriorate further, gold - regardless of its price - will still fare better than equities. To summarize; Yes, investors have been yanking record amounts out of stock funds. Nevertheless, mutual fund cash levels are still at an all time low. As the ETF Profit Strategy Newsletter noted, mutual fund cash levels are a fairly reliable contrarian indicator. The more invested mutual funds are, the higher the chance for a correction. The previous cash level low was recorded in August of 2007. We know what happened then. Rather than focusing on the sideline cash, perhaps we should focus on the trillions of dollars still in the market. More selling means lower prices.
'Stocks are Cheap' vs. Realistic Valuations Using projected earnings to determine the markets real value is like counting chickens that have yet to hatch. Things change, and as studies have shown, analysts and economist are usually the last to discern that change. Market forecasting based on solid facts is tricky enough, but basing forecasts on thin assumptions usually translates into financial suicide. That's why we like to stick to facts that come directly from the market. It increases the odds of success. In a recent study, we plotted three of the most basic, but most reliable, valuation metrics against the historic performance of the Dow Jones (DJI: ^DJI). The visual results were clear and undisputable. Stock market tops when P/E ratios are high, dividend yields are low and mutual fund cash reserves are low. Over the past year, we have seen P/E ratios at an all-time high, dividend yields close to their 1999 low, and mutual fund cash levels at an all-time low. In addition, we have also seen investor optimism soar to levels reminiscent of 2000 and 2007…

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Schwarzenegger Orders 150,000 Government Workers to Take Time Off Without Pay Bloomberg | Schwarzenegger directed state workers to take three unpaid days off each month to save cash.

Weekly Jobless Claims Post Surprise Jump, Hit 500,000 Reuters | New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Western Economies Face Hyperinflation: Gold Bull The decline of the Western economic model will bring about hyperinflation and decades of painful readjustment, Egon von Greyerz, founder of gold investment intermediary Goldswitzerland.com told CNBC Thursday.

US Prepares For Gold Standard To understand this objective it helps to go back to a very important moment in our monetary past…

5 Trillion More Dollars To Fix Fannie Mae And Freddie Mac??? Fannie Mae and Freddie Mac have become gigantic financial black holes that the U.S. government endlessly pours massive quantities of money into.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... 'Allahu Akbar!' Iran test fires new missile...`

`'Al-Qaida prepares for Israel-Iran war'...`

`US Assures Israel Nuclear Iran Isn't Imminent...`

`Israel tells UN it will stop new Gaza aid flotilla...`
`Lebanon refuses to bow to warning...`

`CHICAGOLAND: ShoreBank Closed by FDIC...`
`...strong ties to Obama administration USA DEBT: $13,310,379,000,000.00 $44,000 PER CITIZEN... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`

$60M project to resume in D.C. (Washington Post) [Well, at least they’re not fema concentration / internment camps; naah, they’re for the hoi polloi. Now luxury apartments for the Washington criminal class; that’s another story. Time to break out the bubbly ‘cause happy days are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union side of the conflict had its many concentration camps as well. ... and walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And how we burned in the camps later, thinking ... county is a designated home for a "concentration ... relocated to "secret locations" (FEMA camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily www.youtube.com
FEMA Concentration and Internment Camps A good over look of what FEMA is all about. Enslavement and Concentration Camps. It is not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA AND THE REX 84 PROGRAM. There are over 600 prison camps in the United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp masquerading as a water treatment plant" here in Texas was (ta-daa) a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION CAMPS: Locations and Executive Orders ..... Ft. Drum - two compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]

8-19-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

DISMANTLING BULLISH ARGUMENTS Simon Maierhofer, On Thursday August 19, 2010, 4:24 pm A good friend of mine let me in on a well-guarded investment secret. $1,000 invested each in Nortel, Delta Airlines, Enron and Worldcom years ago, would be worth less than $100 today. But if you had purchased $1,000 worth of wine, consumed the fermented grapes and returned the bottles for the recycling refund, you would have around $200, in addition to a good time. With the tech (Nasdaq: ^IXIC) and financial (NYSEArca: XLF - News) meltdown out of the way, many believe that the time of bottle recycling refunds outperforming stocks has passed. There is some evidence though that loading up on wine - at least to dull the pain of another decline - isn't a terrible idea. Let's examine both points of view.
Bull Market Argument #1 - Stocks are Cheap Even though the economy is in the worst shape since the Great Depression, economists at large believe that stocks (NYSEArca: IVV - News) are cheap. In fact, with the S&P (SNP: ^GSPC) trading above 1,200, analysts claim that stocks are the cheapest since 1990 (Bloomberg, April 26, 2010). Quite to the contrary, on April 16, in no uncertain terms, the ETF Profit Strategy Newsletter stated: 'at current earnings, prices and dividend yields, stocks are not cheap. The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' If stocks were cheap at S&P 1,200, they must be dirt-cheap at S&P 1,100. Cheap based on what assumption though? Based on analysts' projections, earnings for the S&P 500 are to reach an all-time high in 2011, surpassing even the 2006 peak. Since earnings make up half of the price/earnings (P/E) ratio, stocks appear cheap based on record projected earnings. The key word is 'projected.' A recent Associated Press article states that 'their track record shouldn't give anyone confidence. History shows analysts rarely get it right when it comes to predicting how much companies will earn. Analysts almost never see a recession coming.' Looking at data from the last 25 years, research from the consulting firm McKinsey & Co. found analysts have estimated annual earnings growth to be about 10 - 12% for the S&P. Actual growth has only been about 6%. Keep in mind that the past 25 years housed the biggest bull market in American history. We've previously analyzed the folly of relying on projected earnings forecasts and therefore, will only pose two more facts as food for thought before moving onto the next argument. Even if earnings are positive the market can decline, as we've seen with the 9% and 17% declines in January and May. Most of the earnings growth has been fueled by cost-cutting, not organic growth. What does that tell us about the sustainability of growth?
Bull Market Argument #2 - Cash on the Sidelines Cash on the sideline is viewed as bullish because, theoretically, it can be used to buy stocks and drive up prices. Some distinguish between corporate cash and retail cash on the sidelines. Many forget that for every dollar in cash, there is a debt that has to be repaid. According to the Federal Reserve, nonfinancial firms' debt totals $7.2 trillion, the highest level ever. As far as retail investors go, the current debt-income ratio is at 126%. The pre-bubble average was around 70%. To get back to the pre-bubble norm, about $6 trillion worth of debt would have to be eliminated. Retail money in money market funds is currently around the same level as it was in 2006/2007. Is that bullish?
Debunking the Bond Myth No doubt there's been a migration from investment dollars out of stocks and into bonds and gold. The iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEArca: LQD - News), iShares iBoxx $ High Yield Corporate Bond ETF (NYSEArca: HYG - News) and SPDR Barclays Capital High Yield Bond ETF (NYSEArca: JNK - News) have benefited from this migration. It's generally perceived that money in bond funds is safe. Did you know that corporate bonds dropped as much as 27% in 2008? Did you know that junk bonds dropped as much as 47%? To assume that money stored in bond funds will always be there to buy stocks is nave. The current bond yields, in fact, confirm the notion that bonds are reaching bubble territory. The yield of inflation protected 10-year TIPS has dropped below 1%. The iShares Barclays TIPS Bond ETF (NYSEArca: TIP - News) is close to its all time high. The risk in 10-year Treasuries is high as well. If 10-year Treasury yields rise from 2.8% to 4%, bondholders would suffer a loss that would equal three times the current yield. That's not catastrophic, but not bullish for stocks either. Bonds - especially corporate high yield bonds - could soon assume the role real estate had in 2006. Many thought that real estate (NYSEArca: IYR - News) will always go up. As it turns out, real estate prices can move in both directions, as can bond prices.
A Closer Look at Gold What about gold? With nearly $40 billion in assets, the SPDR Gold Shares (NYSEArca: GLD - News) has become the second biggest ETF behind SPY. The iShares COMEX Gold Trust (NYSEArca: IAU - News) exists in the shadow of GLD. It is unlikely that money that has moved into gold will flow back into equities. If gold is at the brink of a bull market, there is no reason for investors to pull money. If the economy does deteriorate further, gold - regardless of its price - will still fare better than equities. To summarize; Yes, investors have been yanking record amounts out of stock funds. Nevertheless, mutual fund cash levels are still at an all time low. As the ETF Profit Strategy Newsletter noted, mutual fund cash levels are a fairly reliable contrarian indicator. The more invested mutual funds are, the higher the chance for a correction. The previous cash level low was recorded in August of 2007. We know what happened then. Rather than focusing on the sideline cash, perhaps we should focus on the trillions of dollars still in the market. More selling means lower prices.
'Stocks are Cheap' vs. Realistic Valuations Using projected earnings to determine the markets real value is like counting chickens that have yet to hatch. Things change, and as studies have shown, analysts and economist are usually the last to discern that change. Market forecasting based on solid facts is tricky enough, but basing forecasts on thin assumptions usually translates into financial suicide. That's why we like to stick to facts that come directly from the market. It increases the odds of success. In a recent study, we plotted three of the most basic, but most reliable, valuation metrics against the historic performance of the Dow Jones (DJI: ^DJI). The visual results were clear and undisputable. Stock market tops when P/E ratios are high, dividend yields are low and mutual fund cash reserves are low. Over the past year, we have seen P/E ratios at an all-time high, dividend yields close to their 1999 low, and mutual fund cash levels at an all-time low. In addition, we have also seen investor optimism soar to levels reminiscent of 2000 and 2007…

YAHOO [BRIEFING.COM]: ‘Some ugly data sent stocks spiraling lower Thursday. The selloff slowed when the stock market approached its monthly low, though. The tone on trading floors turned uneasy with this morning's release of initial jobless claims figures for the week ended August 14. Not only did the tally hit a half million for the first time since November, but it also exceeded the 475,000 claims that had been widely expected. Early weakness was exacerbated by the worst Philadelphia Fed Index in just over a year. The Index's August reading was widely expected to come in at 7.5, but it dropped to -7.7 instead. A gradual selloff ensued. The breadth of the selling effort took stocks through support levels of the two prior sessions and only eased when the S&P 500 came within reach of the August low that was set this past Monday. Though technical support helped stocks stem their losses, pressure persisted into the close and stocks failed to squeeze higher in the final hour…’

Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader and political manipulator,George Soros, is clearly not optimistic.

Schwarzenegger Orders 150,000 Government Workers to Take Time Off Without Pay Bloomberg | Schwarzenegger directed state workers to take three unpaid days off each month to save cash.

Weekly Jobless Claims Post Surprise Jump, Hit 500,000 Reuters | New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Weekly Jobless Claims Post Surprise Jump, Hit 500,000 New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Western Economies Face Hyperinflation: Gold Bull The decline of the Western economic model will bring about hyperinflation and decades of painful readjustment, Egon von Greyerz, founder of gold investment intermediary Goldswitzerland.com told CNBC Thursday.

US Prepares For Gold Standard To understand this objective it helps to go back to a very important moment in our monetary past…

5 Trillion More Dollars To Fix Fannie Mae And Freddie Mac??? Fannie Mae and Freddie Mac have become gigantic financial black holes that the U.S. government endlessly pours massive quantities of money into.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`

THE BARRAGE OF NEWS ‘FLASHES’, AS IF THE SAME WAS UNEXPECTED DESPITE ‘HIDING’ IN PLAIN SIGHT!

·        Stocks drop on trifecta of bad news (at CNNMoney.com)

Economic numbers point to darker outlook (Reuters) - The frail U.S. economy was dealt fresh setbacks as new U.S. jobless claims scaled a nine-month high last week and Mid-Atlantic factory activity contracted in August for the first time in mor...

More tough economic times forecast by CBO (Reuters) - The economy faces even more difficult times ahead with chronic unemployment and slow manufacturing hurting the recovery, the head of Congress' budget agency said on Thursday.

Wall St ends lower on economy worries (Reuters) - U.S. stocks fell to their lowest close in nearly a month on Thursday as the latest batch of data amplified concerns the economy is stuck in neutral.

Bullard says Fed may need to buy more Treasuries (Reuters)

Wall St drops on signs economy has stalled (Reuters) - U.S. stocks tumbled to their lowest close in nearly a month on Thursday as the latest batch of data amplified concerns the economy is stuck in neutral.

US STOCKS-Wall St drops on signs economy has stalled (at Reuters) **- * Intel to buy McAfee for $7.7 billion; McAfee shares soar * Volume light at 7 billion shares, exaggerating moves * Decliners beat advancers by 5 to 1 on NYSE

Retail Stocks: Sears results weigh heavily on retail stocks (at MarketWatch) -Retail shares sink deeper into the close with Sears Holdings tumbling 9.1%, pacing decliners in the S&P 500 after the department-store operator posted disappointing results.

Stocks Skid on Economic Woes; Intel Falls (at CNBC)** - Stocks tumbled Thursday after a series of disappointing economic reports and despite an uptick in mergers and acquisitions activity. The day s downdraft wiped out the weeks gains for the Dow and the S...


Privatizing Virginia liquor stores makes sense (Washington Post) [Wow! I’m totally shocked. Having spent enough time in virginia with a part-time office in proximity to washington to discern the corrupt state of affairs of same dominated by what I refer to as government mob (predominantly cia, related, etc.) (my direct sampling of corrupt states of jersey the worst, new york, california, connecticut – 5 for 5) but I had no idea that the state was as backward as it appeared in having state-run liquor stores. How totally preposterous! ‘The revenuers are the brewers’ … just kidding!] Seventy-seven years after the repeal of Prohibition, you'd think we regard the sale of liquor to consenting adults no differently than the sale of any other good.

Warren sits down with lobbyists (Washington Post) [Talk about appearance of if not outright impropriety. Just what do these lobbyists do for their money. Eke out more fraud protection … for the perps? Forget them! ]Elizabeth Warren, a top candidate to lead the new Bureau of Consumer Financial Protection, met quietly with some of her sharpest critics: big bank lobbyists.

Federal Reserve's shift in policy doesn't change its basic outlook (Washington Post) / And what outlook is that? The no-recession initially touted by bernanke or ‘envy of all the world’ touted by senile greenspun? How ‘bout reality:

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract …

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Bulls Scatter ... Again ‘At the risk of sounding like a broken record, we wanted to once again highlight the lack of conviction among investors and advisors in the current market environment. Following the July rally, bullish sentiment based on the Investors Intelligence weekly survey jumped to its highest level since May. Then last week, the S&P 500 dropped more than 3% and the bulls scattered. In this week's survey, bullish sentiment declined 12% for its largest weekly decline since the flash crash…’

Know Your Indicators: Hindenburg Omen   ‘…Below we outline the five criteria (taken from Zero Hedge) that need to be satisfied in order for the indicator to be triggered. They are:

That the daily number of NYSE new 52-Week Highs and the daily number of new 52-Week Lows must both be greater than 2.2% of total NYSE issues traded that day.

That the smaller of these numbers is greater than or equal to 69 (68.772 is 2.2% of 3126). This is not a rule but more like a checksum. This condition is a function of the 2.2% of the total issues.

That the NYSE 10-Week moving average is rising.

That the McClellan Oscillator is negative on that same day.

That new 52-Week Highs cannot be more than twice the new 52-Week Lows (however it is fine for new 52-Week Lows to be more than double new 52-Week Highs). This condition is absolutely mandatory…’

Another Round of POMO: Dave's Daily ‘…Thursday we'll get another round of Uncle Sugar's special blend via more POMO (Permanent Open Market Operations). This private label brew will go directly to the Primary Dealers (dba: Da Boyz) who will use it to trade as before…’

More Fuel For a Bigger Decline Simon Maierhofer, On Tuesday August 17, 2010, 4:18 pm EDT A French proverb states that a fault denied is committed twice. Denial, as blissful as it is for the time being, does not serve as protection against the inevitable.A perfect example of denial is the May 6 flash crash. Neither Wall Street, the financial media, nor investors wanted to see the danger of such a meltdown beforehand. After it happened, they were in denial about the cause.

Denial is Bliss

The simple truth is that the market was ripe for a major correction. A few weeks before the flash crash, the ETF Profit Strategy Newsletter noted the extremely low CBOE Equity Put/Call Ratio and warned: 'It seems that only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' As it turns out, there was no clumsy-fingered trader at fault for the decline that reduced the Dow (DJI: ^DJI) by more than 1,000 points in one day. If it had been a simple error, stocks wouldn't have fallen to new lows after the flash crash. If it had been a simple error, the S&P (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) wouldn't still be trading below the flash crash close.

The Reality of Denial

But, that's the power of denial. Since the April 26 highs, the S&P has been moving from lower highs to lower lows. On July 1, the S&P had arrived at 1,011. The ensuing rally lifted the markets by nearly 10%, but failed to push the S&P and Nasdaq above the July 21 highs. The July 21 highs failed to move above the May 12 highs. The May 12 highs were significantly short of the April 26 highs. Despite the obvious downtrend, investors get as excited about dead end bounces as ever. This is not a bullish omen. In fact, according to the ETF Profit Strategy Newsletter's technical analysis, the steepest leg of the decline is still ahead. Before we look at more technical details, let's browse through some fundamental factors that reflect the current state of denial:

Don't Worry About Bank Failures

111 banks were added to the FDIC's failed bank list thus far in 2010. At the same time last year, only 76 banks had been shut down. According to an FDIC press release, Metro Bank of Dade County had total assets of $442.3 million and total deposits of $391.3 million. Assets outweigh liabilities by $51 million. That's good, but apparently not accurate. According to the FDIC's press release, closing Metro Bank will cost the FDIC $67.6 million. Why? Because an accounting trick allows banks to artificially inflate their assets. The accounting trick allowed this small bank to overstate its assets by about 25%. Other banks on the FDIC list overstated their assets by more than 50%. Imagine the size of the problem, considering that the four biggest banks (NYSEArca: KBE - News) of the country have about $7.5 trillion in combined assets. We should also point out that none of those losses technically affect earnings, at least not yet (for a detailed analysis refer to the June issue of the ETF Profit Strategy Newsletter).

Don't Worry About Falling Real Estate

The National Association of Home Builders reported that its monthly reading of builder's sentiment about the housing market sank to 14, the lowest level since March 2009. Unlike other economic indicators, this index is taken from builders that have their finger on the pulse of Main Street and is forward looking. Despite the rally in equities (NYSEArca: VTI - News) and real estate (NYSEArca: IYR - News), homebuilders (NYSEArca: XHB - News) never really saw light at the end of the tunnel.

Don't Worry About Foreclosures

According to RealtyTrac, more than 1 million American households are likely to lose their homes to foreclosure this year. This is about 10 times as high as during an average year. 25% of the U.S. household sector has a sub-600 FICO score. Yet, Fannie Mae is offering financing to first-time buyers who only have a $1,000 down-payment. Nearly $150 billion have been spent to keep the doors of Fannie, Freddie and company open. Does it make sense to artificially extend the life of a patient destined to die? In the case of Fannie, politicians seem to think that lending more money and ultimately creating more toxic assets will solve the problems. Even a third grader understands the irony of that concept. Denial is alive and well.

Don't Worry About Bankrupt States

States are in trouble. The bigger the state, the bigger the trouble it seems. California has a $1.8 trillion economy. If CA was a country, its economy would be the seventh biggest in the world, bigger than Russia. But, CA has no money. CNN reports that as many as 200,000 state workers in CA could see their pay scale slashed to minimum wage, if orders from the governor's office are followed. You don't need to be one of the 200,000 to know that is bad. To go from state salary to minimum wage is a huge drop.

Don't Worry About Falling Prices

Look around and you see a general downtrend develop: U.S. stocks (NYSEArca: IWB - News), international stocks (NYSEArca: EFA - News) and emerging market stocks (NYSEArca: EEM - News). The same applies to commodities (NYSEArca: DBC - News), real estate prices (NYSEArca: RWR - News) and consumer goods. The above-mentioned 'don't worries' all contribute to the deflationary spiral (see image below for a visual). Unemployment remains high because businesses have no pricing power. This leads to lower income, default foreclosures, and ultimately even higher unemployment. Even Bernanke knows, there is no easy fix to a deflationary cycle. Once engrained, it feeds on itself. [chart]

Don't Worry About Death Crosses

A death cross is one of the most powerful technical indicators. It occurs when the shorter simple moving average (SMA) crosses below the longer SMA. Over the last few weeks we saw literally dozens of such death crosses. Most notable was the S&P, Dow Jones and Nasdaq experiencing not only a death cross created by the 50 and 200-day SMA, but also courtesy of the 10 and 40-week SMA. Despite the rally from the July lows, the sell signal triggered by the various death crosses remained active. The fact that the Dow Jones was the only major index to rally above the June 21 highs provides an additional bearish non-confirmation. Over the past ten years, the buy/sell action triggered by the SMA crosses has a success rate of 75% - 100%. Winning trades outperformed losing trades by a ratio of at least 3:1. In investing, those are not the kind of odds you want to bet against. In other words, it's time to face reality and abandon denial. Leading up to the April highs, the ETF Profit Strategy Newsletter noted a pinnacle of denial which was reflected by investors' outright enthusiasm about stocks. At a time when approximately 8 of 10 investment advisors and newsletter writers were bullish on stocks, the ETF Profit Strategy Newsletter noted: 'The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' Since April 26, the major indexes dropped as much as 17%. Despite the recent rally, this seems to have been only the first installment of a significant decline. This decline is now in progress. In fact, the August issue of the ETF Profit Strategy Newsletter explains the one chart-pattern that explains why the next leg down will be strong and powerful. A British Historian noted decades ago that a wise person does at once what a fool does at last. Both do the same thing; only at different times. Will you get out of the markets way in time, or too late?

Here’s a new piece of the dismally murky puzzle which belies a previous raison d’etre for rally: Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches . Previously, Walmart same store sales were actually down (overseas results were up), and, think about it. Isn’t Walmart, as essentially an american based sales agent of china products a ‘contrarian indicator’ for the the u.s.; that is , hasn’t Walmart’s rise coincided with american main street’s demise. Similarly, fraudulent wall street high frequency churn and earn programmed trade scams among many other frauds as yet unprosecuted has heralded the death knell for american business and the economy, generally. Old news at best and, that ‘not bad as expected, better than expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers were also strong. As a group retailers climbed 1.8%. Discount retail giant and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on the back of in-line earnings and an improved forecast. Home improvement retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a more positive influence over retailers. It posted better-than-expected earnings for the latest quarter, but issued a rather mixed forecast. A smaller-than-expected increase in housing starts during July didn't do anything to derail the stock this session. Housing starts for July increased 1.7% month-over-month to an annualized rate of 546,000 units, which is less than the rate of 555,000 units that had been widely anticipated. Building permits for July fell 3.1% month-over-month to an annualized rate of 565,000, which is below the rate of 573,000 that had been expected…’ But, just a push of the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily.

However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GPD, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance.

There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GPD growth in the present and then revising it lower in the subsequent quarters.’

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Kaufman on High Frequency Trading   ‘Sen. Ted Kaufman (D., Del.) has been banging the drum on the need for regulatory changes to high frequency trading for a while. His latest thoughts on the matter take the form of a letter to SEC Chairwoman Mary Schapiro urging — among other things — major high-frequency trading firms be required to register with the Securities and Exchange Commission. Dow Jones Newswires’ Jacob Bunge reports:

In addition, regulators should consider requiring chief executives of computer-driven trading firms to certify under oath that their algorithms do not manipulate prices in U.S. stock and derivative markets, according to Kaufman.

“In the aftermath of the flash crash, this is an historic moment for the Commission, a moment when it must fulfill its obligation as steward for those investors who lack the clout of Wall Street’s largest financial players,” the senator wrote in an Aug. 5 letter to Mary Schapiro, chairman of the SEC.

Kaufman’s letter to Schapiro came as the SEC and the Commodity Futures Trading Commission prepare to issue in early September a final report on the market events of May 6, when the Dow Jones Industrial Average dropped by nearly 1,000 points before swiftly recovering.

As we’ve noted before, at the heart of events of the May 6 “Flash Crash,” was a decision by certain market makers to cut back trading, and in some cases pull out of the market all together. Since so much of the market’s liquidity comes from high-frequency trading or statistical-arbitrage firms, some say there should be additional obligations to ensure that these firms don’t pull out of the market.

Last week, New York Sen. Chuck Schumer offered some of his suggestions on how to sort out the obligations of market makers, whom he seemed somewhat sympathetic toward. He noted that since some of the obligations he proposed were “burdensome and making markets is voluntary … the Commission should consider appropriate incentives for high frequency traders to become market makers.”

Kaufman seems to be taking a tougher line with respect to market makers. In his letter to the SEC he writes:

The SEC should impose some liquidity provision obligations on high frequency traders. Enhanced requirements should be crafted to encourage high frequency traders to post two-sided markets and supply investors with a consistent source of deep liquidity. In addition to affirmative liquidity provision obligations, the Commission should consider instituting negative obligations as well.

We have a hunch on which approach the industry is likely to prefer. At any rate, the Kaufman letter is worth a read for market wonks. Check it out.’

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

The Bond Market Is Signaling Trouble Ahead Claus Vogt | My outlook for the economy and the stock market has steadily and significantly deteriorated since March 2010.

China Drains Obama Stimulus Meant for U.S. Economy Bloomberg | Globalization is pitting the Wangs in China or Gandhis in India against the Smiths in the U.S. or Gonzalezes in Spain.

Chossudovsky: China could already be world’s largest economy It’s widely predicted that China’s economy will be the largest in the world by 2020, overtaking the U.S. Only this week the country surpassed Japan to become the world’s second biggest economy by GDP.

Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches Those patiently following the Greek Bond-Bund spread to its inevitable conclusion have been fully aware that the plan that Europe is betting its entire future on, is patently flawed: namely that austerity, by its definition does not, and will not work.

Malaysian Province Moves To Gold And Silver-Based Currency In “Main Islamic Event Of The Last 100 Years” More world governments are “just saying no” to the ponzi. Last week, the Malaysian government of Kelantan “said it was introducing a new monetary system featuring standardised gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire.”

Analysts Foresee $1,300 Gold By Year-End Worries about a fragile U.S. economy are likely to keep investors shifting toward gold and could push the metal to fresh record highs near the $1,300 area by year-end, analysts and traders say.

Kicked In The Groin: Health Insurance Companies Are Dramatically Increasing Premiums Due To The New Health Care Law And There Is Not Much We Can Do About It Wasn’t the new health care reform law supposed to make health care more affordable for everyone? Well, imagine my surprise when I opened up a letter from my health insurance company recently and found out that my health insurance premiums were going up by nearly 50 percent.

geithner: Fannie, Freddie in need of overhaul (Washington Post) Now this is an understatement from tiny tim, God bless us everyone. I think tiny tim’s more concerned with public perception over their haul of taxpayer dollars.

Manufacturing, housing sectors exhibit diverging fortunes (Washington Post) I’d say understatement but I truly don’t know what this headline means juxtaposed with ‘fortunes’.

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

China Slashes U.S. Government Bond Holdings By The Largest Amount Ever China began reducing its holdings of U.S. government bonds again in June, and in fact cut just its holdings by the largest 1-month amount ever.

18 Signs That America Is Rotting Right In Front Of Our Eyes Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying.

Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’ As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically unscathed.

Tons of gold imports turn to dust on arrival Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Paul Joseph Watson | In the face of censorship, it’s more important than ever that people get the word out about Google’s plan to kill the web.

‘Bombshell Barack’ and ‘Kill Web’ Heading to Top of Google Trends Matt Ryan | Alex Jones would like to again thank everyone for their continued support in spreading the message of truth.

Google Plans To Kill Web In Internet Takeover Agenda Paul Joseph Watson | Doomsday scheme will silence independent voices for good.

Provocateurs Spray-paint “Infowars.com” on Private Property in Pennsylvania Kurt Nimmo | Fox News station in Pennsylvania insinuates Infowars.com behind incident.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Having at first appeared as normal, our earlier article about Google’s plan to kill the web has been completely de-listed from Google News. This is completely unprecedented and underscores how keen Google is to prevent people from finding out that it is a CIA-NSA front that is preparing to completely end the Internet as we know it with the Verizon net-neutrality killing deal.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... NEW JOBLESS CLAIMS RISE TO 500,000...`
`Highest level in 9 months...`
`CBO: DEFICIT 9.1% OF GDP... DEVELOPING... Homeowners Expect Home Values to Fall More...`
`Death of the 'McMansion': Era of Huge Homes Is Over... Bankruptcies Reach Nearly 5-Year High... REPORT: China targets U.S. troops with arms buildup...`
`Military power growing...`
`Pentagon warning...`
`Risky game on the high seas...`
`How long can America fend off the dragon? 'Without a revolution, Americans are history'...`

From Good to Mediocre ‘Through last Friday, 2,127 US companies had reported quarterly numbers this earnings season. What started out as a strong earnings season is going out with a whimper (earnings season ends tomorrow with Wal-Mart's report)…’

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

Without a Revolution, Americans Are History The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”

How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO As if its rivals didn’t have reason enough to hate Goldman Sachs (GS), they’ve just been given one more reason.

China Favors Euro Over Dollar as Bernanke Alters Path Bloomberg | China, whose $2.45 trillion in foreign-exchange reserves are the world’s largest, is turning bullish on Europe and Japan at the expense of the U.S.

High Probability for Lower Market Prices Ahead ‘…Economic numbers being what they are (very poor), we should expect a downward revision of second quarter GDP to 1.5% from the originally disappointing number of 2.4%. As more data is being released it is apparent that we are witnessing even further deterioration here in the third quarter…We may have reached a tipping point where many are tired of others being the benefactors of taxpayer money …’

Gold Providing Safety During Market Downturn ‘ … The death cross occurs when the 50 day moving average crosses the 200 day moving average on the downside. These patterns, when combined with other technical indicators can predict major market downturns…THE ODDS OF A LONG TERM DOWNTREND ARE BECOMING HIGHLY PROBABLE. THESE SIGNALS COULD POSSIBLY INDICATE THE START OF A TWELVE TO EIGHTEEN MONTH DOWN CYCLE. Gold, on the other hand, has shown great relative strength despite the general markets correcting and negative sentiment about the economy from Washington…’

Pension check may not be in the mail Chicago Tribune | Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits

Back to School? Bring Your Own Toilet Paper New York Times | “The first time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper, said of the list, which also included perennials like glue sticks, scissors and crayons.

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Obama Says Private Accounts Would Endanger U.S. Social Security Benefits President Barack Obama said Republican proposals to have people invest Social Security benefits in private accounts would increase the U.S. budget deficit and put retirement money at risk to “the whims of Wall Street traders.”

The Trade Deficit Nightmare When they hear the word deficit, most Americans immediately think of the U.S. government budget deficit which is rapidly spiralling out of control.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal Reserve is undertaking a “dangerous gamble” by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

China surpasses Japan as world's No. 2 economy (Washington Post)   [ As if we didn’t see that coming! ]

Dr David Kelly was on a hitlist, says UN weapons expert as calls grow for full inquest Mail Online | Dr Richard Spertzel claimed Dr Kelly was on a ‘hitlist’ in the final years of his life.

Iran Attack This Week? Kurt Nimmo | John Bolton and the neocons refuse to accept that Iran’s facility will produce nuclear energy and insist it will be used to create nuclear weapons.

The Hidden Tragedy of the CIA’s Experiments on Children Shortly after deciding to initiate her own LSD experiments on children, Bender attended a conference sponsored by a CIA front group, the Josiah Macy Foundation.

Shilling for War on Iran I guess I was naïve in thinking that The Atlantic and its American-Israeli writer Jeffrey Goldberg might shy away from arguing for yet another war — this one with Iran — while the cauldrons are still boiling in Afghanistan and Iraq. Even world-class chutzpah must have its limits, I had thought.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

Drudgereport: `O FALLS TO NEW LOW AT GALLUP DAILY... China overtakes Japan as No. 2 economy...`
`China Favoring Euros Over Dollars...'Without a revolution, Americans are history'...`
`NEWSWEEK: World's Best Country: Finland [USA #11]...`
`House to cut food stamps to fund Mrs. Obama's 'let's move' initiative... Banks to benefit most from White House effort to fight foreclosures... Petraeus: 'We're doing everything we can' …[Sounds like a plan!]...`
`Builds Case for 'Success' in Afghanistan …[If only words could make it so!]...`
`Karzai asks Obama for review of war...`
`Foreign troops deaths pass 2,000... MYSTERY: West Wing of White House covered in tarp...`
`Harvard University fund sells all israel holdings... … UPDATE: Harvard insists israeli shares sale not driven by boycott... GOOGLEVERIZON Deal: Fears for Privacy...`

HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On Friday August 13, 2010, ‘… The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late

When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media

By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.

April 19, 2010 'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' - Bloomberg

April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal

April 27, 2010 'Greece contagion fears unfounded' - Reuters

May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' - Bloomberg

Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash

In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), UltraShort Russell 2000 ProShares (NYSEArca: TWM - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate

On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust

Even when basing the current P/E ratio on overly optimistic estimates, it is still far away from the P/E ratios seen at historic market bottoms. The same holds true for dividend yields. A look at various valuation measures shows that the market is overvalued by much more than just 10 or 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy…’

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract … After decades of abuse, it’s time for the Fed to take make a dramatic exit, because the US economy can’t take it anymore.’

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

The Dollar’s Third and Final Act LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful If you haven’t seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it’s going to feel like it is.

Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

States get grants to help regulate health insurance rates (Washington Post) Sounds like a plan … born of capital hill math; viz., ie., just sayin’, $1 million for a bureaucracy that will cost many millions, even as states like the nation itself are defacto bankrupt.

Regulators consider toughening overdraft rules even more (Washington Post) Wow! They’re tough … when talking millions instead of the hundreds of billions of taxpayer funds they’ve frittered away. You can’t make this stuff up!

Barclays Bank agrees to forfeit $298 million to authorities (Washington Post) Well, they haven’t gotten to the point just yet where it’s just not worth doing business in america, but they’re workin’ on it and getting’ there!

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Makeup of Obama's housing reform panel draws ire (Washington Post) [Wow! Talk about late to the party! I mean … a conference? It’s not as if this was some new or novel problem coming down the pike. Then there’s the everything but the core issue / problem approach that seems recurringly fashionable.] Advocates say that the administration is excluding consumer and community groups from playing prominent roles in a government-sponsored conference next week that will kick off efforts to overhaul national housing policy.

Economic indicators reflect weak recovery (Washington Post) [Recovery? I say they’re dreamin’! So does Schiff, (Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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 ).

Warnings: Social Security at risk (Washington Post) [ Not this again! It bears repeating, that was always a bad idea and there was a plethora of reasons set forth on my site as to why the social security privatization plan being shilled by moron war criminal dumbya bush on behalf of the wall street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as america / the social security system is, the nation and system would have been wiped out by privatization debacle. Talk about too big to, but still failed. It was a bad idea then, and though accusations may fly as to fear mongering, the reality of the venality attendant to such a preposterous course on behalf of the wall street frauds requires vigilance, scrutiny, and discourse concerning even the remote possibility of such a fool-hearty betrayal of the citizenry of the nation. As such, as off the mark as wobama has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama says GOP wants to privatize program, but liberals see a different threat.

Foreclosures surge 9 percent in July (Washington Post) Those glass-half-full frauds on wall street along with the administration will be cheering this unequivocally bad news with a dubious retort as ‘used home sales will rise’ … riiiight! Anything you say …

Stocks dip for third straight day (Washington Post) [Investor fears? How ‘bout reality. Even an essentially non-business site as Drudge has the pulse of this pervasive realization that ‘those dogs of happy days are here again don’t hunt no more’. Check the heads: `DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments... DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... and`Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression. `My take:` This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed

Pearlstein: The FCC and the bandwidth wars (Washington Post) [The internet has been among the few areas of growth and american prominence, at least at this point in time. Clearly, as with the throng that heralded in NAFTA, the self-interested voices of ie., google, verizon, etc., are similarly anathema to the greater good (as was NAFTA). Berners-Lee spoke against such parochialism in no uncertain terms, much as did Ross Perot on NAFTA and history has proven Perot correct as is so of the mind numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

AP Business Highlights ‘Jobs picture dims as unemployment claims rise WASHINGTON (AP) -- The economy is looking bleaker as new applications for jobless benefits rose last week to the highest level in almost six months. It's a sign that hiring remains weak and employers may be going back to cutting their staffs. Analysts say the increase suggests companies won't be adding enough workers in August to lower the 9.5 percent unemployment rate. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. That's the highest total since February. Analysts had expected claims to fall…’

Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!] AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest AAII Sentiment Survey. Despite the size of the increase, the proportion of individual investors expecting stock prices to rise over the next six months is only at a two-week high. The historical average is 39%. Neutral sentiment, expectations that stock prices will stay essentially flat over the next six months, fell 1.3 percentage points to 30.1%. The historical average is 31%. Bearish sentiment, expectations that stock prices will fall, dropped 8.1 percentage points to 30.1%. This is a 14-week low. The historical average is 30%. The survey period, Thursday through Wednesday, needs to be taken into consideration when looking at these results. Stock prices were essentially flat through most of this week's survey period (with the obvious exception of yesterday), giving some investors hope that a short-term bottom had been established. Though there were big changes in bullish and bearish sentiment, both optimism and pessimism are close to their historical averages. As a result, I would argue that individual investors' confidence in the market remains fragile…’

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer A SOLID TRACK RECORD **An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. ..LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed… Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal ... When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE …High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`PAPER: 10 reasons why Obama presidency is in meltdown...`
`GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%... Obama abolishes White House position dedicated to transparency...`

`Michelle Obama popularity falls...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Bombshell: Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA files that document the agency’s connections to the lives of Barack Obama and his mother, father, grandmother, and stepfather.

Google Yanks “Kill The Web” Article That Warned Of Internet Takeover Having at first appeared as normal, our earlier article about Google’s plan to kill the web has been completely de-listed from Google News. This is completely unprecedented and underscores how keen Google is to prevent people from finding out that it is a CIA-NSA front that is preparing to completely end the Internet as we know it with the Verizon net-neutrality killing deal.

Google Plans To Kill Web In Internet Takeover Agenda The net-neutrality ending deal with Verizon is just the beginning of Google’s plans to kill the open and free Internet as part of their takeover agenda to completely control the world wide web and force independent media websites, radio and TV shows out of existence for good.

Austin Activists Join Fight To Remove Neuro-Toxin Fluoride From Drinking Water Austin activists from We Are Change join the fight to get fluoride out of the drinking water as more and more people become aware of the fact that they are consuming a neuro-toxin that top scientific studies have associated with retardation, bone cancer and many other severe health problems.

Biometric Iris Scanning Technology Rolled Out Across Entire City A biometrics research and development company is set to roll out iris recognition technology across an entire city in a move that it claims will create a real life Minority Report society where anyone taking a train or shopping in a department store will have their eyes scanned by hi-tech sensors.

Nearly Half of United States Considering Arizona-Style Immigration Legislation Twenty-two states are now in the process of drafting or seeking to pass legislation similar to Arizona’s law against illegal immigration.

Establishment Fails Again: Rand Paul Maintains Lead Over Conway The latest establishment media smear attempt against Rand Paul, in which they falsely reported for over a week that the Kentucky Senatorial candidate had “abducted” and “force drugged” a woman while in college, has completely failed again, with the very latest Rasmussen poll showing that Paul has retained a healthy lead over Democratic opponent Jack Conway.

Obama’s pledge to close down Guantanamo is ‘not even close’ Barack Obama’s pledge to shut down Guantanamo Bay will not be honoured until at least a year after the President’s self-imposed deadline – and may not be completed in his first administration.

US-Vietnam Military Drills Crank Up Tensions With China The U.S. Navy just began military exercises with Vietnam in the South China Sea and China, which had in the past been more accepting of the U.S.’ naval power in the region, is now showing its anger, according to The Asia Times.

Poll: ‘No’ to US wars at all time high A new opinion poll says the number of Americans opposed to the US wars in Afghanistan and Iraq is at an all time high.

CIA Launches “Counterproliferation Center” as Iran Attack Rhetoric Kicks Into High Gear Kurt Nimmo | CIA will peddle propaganda required to sell the increasingly irrelevant American people future wars.

Ron Paul: The American Empire Can’t Afford Another War Infowars.com | Alex welcomes back Congressman Ron Paul to the show to discuss the latest on Iran, legislation in the house, and more.

Ventura Warns Of Homeland Security “Gestapo” Takeover of America Paul Joseph Watson & Aaron Dykes | In an exclusive video for Prison Planet.tv subscribers, fmr Gov. Jesse Ventura warns that Homeland Security is rapidly becoming the American Gestapo, while also discussing some Hollywood secrets & more.

Air Force Issues Memo Warning Soldiers, Employees Not to Read WikiLeaks Docs Kurt Nimmo | Memo confirms that the Pentagon is monitoring web activity of its soldiers and employees.

9/11 Heroes Blast Obama: Forget The Mosque, We’re Dying Hero 9/11 first responders, many of whom are sick and dying, have slammed Obama in an open letter for ignoring their plight while taking the time to outline views on a proposed mosque close to ground zero, the site of the 2001 attacks that felled the twin towers.

Chaos Erupts in California as Over-Taxed Residents Express Outrage The city of Bell, CA has recently been exposed for having corrupt and overpaid city officials receiving salaries larger than the President of the United States. Residents who have recently learned they were over-taxed to pay for the government workers took control of a City Council meeting and demanded resignations.

Pelosi Wants Ground Zero Mosque Opponents Investigated House Speaker Nancy Pelosi has called for opponents of the proposed Ground Zero mosque to be investigated in order to establish who is funding their activities, in a throwback to how Pelosi also claimed that the Tea Party was a phony “astroturf” movement being orchestrated by the Republican hierarchy.

China Reacts Angrily To Pentagon Report Beijing reacted angrily Wednesday to a Pentagon report expressing worries about China’s burgeoning military capabilities, calling such concerns baseless.

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Former Pakistani Intel Chief Fears World War Three Is Imminent Former Pakistani General and intelligence chief Hamid Gul appeared on the Alex Jones Show yesterday for a full hour in what turned out to be a fascinating extended interview, addressing the major geopolitical issues that are shaping modern history.

Neocon Bolton Renews Call for Israel to Bomb Iran Last Friday the former interim UN ambassador during the Bush administration went on Fox News and warned that if Israel did not conduct a bombing raid against Iran’s nuclear energy program within a few days, the window of opportunity would be lost. Bolton made his comment following a report last week that Russia will begin loading nuclear fuel at Iran’s Bushehr reactor on July 21.
Google search: ‘bolton, neocon, mental problems’ About 143,000 results (0.37 seconds)
Here’s the first of many pages. Yeah … he’s that bad / psychotic!
· Think Progress » John Bolton jokes about nuking Chicago, entire ...

Feb 26, 2009 ... Bolton, the NEOCON gift that keeps on giving the Repuglycans zero ... The problem with McCain was this. As a veteran and a POW he get's high marks. ..... to get some treatment at the closest mental health facility. ...
thinkprogress.org/2009/02/26/bolton-nukes-chicago/ - Cached - Similar

· Think Progress » Even After North Korea Frees American Journalists ...

Aug 4, 2009 ... Bolton, like all neocons, doesn't understand that there is ..... Of course, we all know it was BUSH who caused the problem in the first place, right? .... they view the world in the light of their own mental disorder, ...
thinkprogress.org/2009/08/.../bolton-north-korea-journalists/ - Cached - Similar

Show more results from thinkprogress.org

· Breaking: Neocon John Bolton Names Dick Cheney "Conservative Of ...

Dec 21, 2009 ... Re: Breaking: Neocon John Bolton Names Dick Cheney "Conservati ... republicanism/conservatism is a mental illness that is killing America and ... Problem is one side will shamelessly try and stack the deck in their favor ...
crooksandliars.com › Blogs › Logan Murphy's blog - Cached - Similar

· John Bolton's Astonishing Neo-Neo-con Rewrite of History ...

Apr 17, 2007 ... On March 25, John Bolton was interviewed by BBC Newsnight's Jeremy Paxman (video here). ... I think the real problem was in not relying more on Iraqis. .... BTW, a mental giant, you are not. The best thing to happen to ...
www.democrats.com › Blogs › Bob Fertik's blog - Cached

· Bolton suggests nuclear attack on Iran « LobeLog.com

Bolton and his neo-con crazies aren't setting the agenda anymore, ... And I do not mean the mental condition of Mr Bolton and his fellow neocons. ...
www.lobelog.com/bolton-suggests-nuclear-attack-on-iran/ - Cached - Similar

· Don't Hold Your Breath, Ambassador Bolton - Atlas Shrugs

May 26, 2009 ... It's a special kind of mental illness. ... Bolton has been derided as "the neocon's neocon" who "laps up the hosannas of fellow ...
atlasshrugs2000.typepad.com/.../dont-hold-your-breath-ambassador-bolton.html - Cached

· The BRAD BLOG : The Fall of the NeoCons: Bye Bye Bolton

Dec 4, 2006 ... Clyburn: E-Vote 'Hacked'; Rawl: 'Systemic Software Problems' .... Add 'The Fall of the NeoCons: Bye Bye Bolton' to Del.icio · Add 'The ... The Army's Lack of Mental Health Treatment for Returning Troops" NEXT STORY » ...
www.bradblog.com/?p=3873 - Cached

· Ambassador John Bolton: Israel Has 8 Day Deadline to Attack Iran ...

30 posts - 4 authors - Last post: 21 hours ago

"Religion is science for the mental ill" - Myself ... John Bolton is a Bush neo con,,, obviously broke and needing the money. ...
www.godlikeproductions.com/forum1/message1163684/pg2

Get more discussion results

· [World Wide News Flash] Bolton

New article on darkpolitricks: Neocon Bolton Renews Call for Israel to Bomb Iran http: darkpoltweeter (Dark Politricks RT): New article on darkpolitricks: ...
www.wwnewsflash.com/bolton

Get more results from the past 24 hours

· [PDF]

The Neocon Factor in - The Zealots of Dominance: The Neocon Factor ...

File Format: PDF/Adobe Acrobat - Quick View
a sweeping diagnosis, it's clear that mental health has been a problem within ...... Neocon icon John Bolton, Bush's abrasive former Ambassador to the UN, ...
www.sf911truth.org/neocons.pdf

Ban Ki-moon’s Top Advisor: Scientific Elite Should Spearhead Global Population Control “The fertility reduction and stabilization of population is crucial. He (Sachs) concluded by urging for the adoption of a globally agreed action plan at next year’s Summit to achieve the MDGs by 2015, and proposed to form Working Groups with members of the delegations around particular themes. He characterized this effort as not negotiation, but as global problem solving and suggested that the Working Groups would brainstorm on the globally agreed plan.”

Obama, the one-term president [ The fact is, as I’ve previously commented, he’s ok with and has already accepted his one-term ‘being there’ failed presidency which explains his huge divergence from his promised change, among other promises and the false expectations he created thereby. He lacks courage, of course; but that’s become so typically american and he’s very typical. ] Q: Will Barack Obama be a one-term president? A: Yes, he might last that long.

Dreaded Hindenburg Omen Will Play Out Within 4 Weeks UBS Financial Services Director Art Cashin says that we’ll know within 3 or 4 weeks whether the dreaded Hindenburg Omen, a set of market factors that precede a stock market collapse, will unfold as many are now predicting.

Desperately Seeking Accommodation: Iran Offers U.S. Chance to Build Nuclear Power Plants Kurt Nimmo | It is extremely unlikely the U.S. take Iran up on the offer.

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Former Pakistani Intel Chief Fears World War Three Is Imminent Steve Watson | General Hamid Gul points to “dark impulse” controlling US system.

Obama: All In The Company Wayne Madsen | CIA connected to institutions and individuals figuring prominently in the lives of Barack Obama, his mother, father, grandmother, and stepfather.

8-18-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Bulls Scatter ... Again ‘At the risk of sounding like a broken record, we wanted to once again highlight the lack of conviction among investors and advisors in the current market environment. Following the July rally, bullish sentiment based on the Investors Intelligence weekly survey jumped to its highest level since May. Then last week, the S&P 500 dropped more than 3% and the bulls scattered. In this week's survey, bullish sentiment declined 12% for its largest weekly decline since the flash crash…’

Know Your Indicators: Hindenburg Omen   ‘…Below we outline the five criteria (taken from Zero Hedge) that need to be satisfied in order for the indicator to be triggered. They are:

That the daily number of NYSE new 52-Week Highs and the daily number of new 52-Week Lows must both be greater than 2.2% of total NYSE issues traded that day.

That the smaller of these numbers is greater than or equal to 69 (68.772 is 2.2% of 3126). This is not a rule but more like a checksum. This condition is a function of the 2.2% of the total issues.

That the NYSE 10-Week moving average is rising.

That the McClellan Oscillator is negative on that same day.

That new 52-Week Highs cannot be more than twice the new 52-Week Lows (however it is fine for new 52-Week Lows to be more than double new 52-Week Highs). This condition is absolutely mandatory…’

Another Round of POMO: Dave's Daily ‘…Thursday we'll get another round of Uncle Sugar's special blend via more POMO (Permanent Open Market Operations). This private label brew will go directly to the Primary Dealers (dba: Da Boyz) who will use it to trade as before. We'll also get more earnings from Staples, Ross Stores and Dollar Tree, among other retailers. Also on tap is more economic data from Jobless Claims, Leading Indicators and the Philly Fed. Together, these will give ammo for bulls and bears to duke things out. Meanwhile, there's Wednesday to digest. There was no economic data and earnings news featured a good report from Deere but the news got sold. Retail results highlighted Target which matched expectations but still propped up retail-related ETFs overall. Markets were lower early on profit-taking and then were kicked higher midday perhaps on enthusiasm for POMO Thursday. Late in the day, fatigue set in similar to Tuesday's late day selloff and we barely eked out a gain. Volume was still summertime light and breadth was mildly positive. (It's instructive to note in the Nasdaq, advancers barely beat decliners but volume was superior indicating heavier trading in bigger names.) …’

More Fuel For a Bigger Decline Simon Maierhofer, On Tuesday August 17, 2010, 4:18 pm EDT A French proverb states that a fault denied is committed twice. Denial, as blissful as it is for the time being, does not serve as protection against the inevitable.A perfect example of denial is the May 6 flash crash. Neither Wall Street, the financial media, nor investors wanted to see the danger of such a meltdown beforehand. After it happened, they were in denial about the cause.

Denial is Bliss

The simple truth is that the market was ripe for a major correction. A few weeks before the flash crash, the ETF Profit Strategy Newsletter noted the extremely low CBOE Equity Put/Call Ratio and warned: 'It seems that only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' As it turns out, there was no clumsy-fingered trader at fault for the decline that reduced the Dow (DJI: ^DJI) by more than 1,000 points in one day. If it had been a simple error, stocks wouldn't have fallen to new lows after the flash crash. If it had been a simple error, the S&P (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) wouldn't still be trading below the flash crash close.

The Reality of Denial

But, that's the power of denial. Since the April 26 highs, the S&P has been moving from lower highs to lower lows. On July 1, the S&P had arrived at 1,011. The ensuing rally lifted the markets by nearly 10%, but failed to push the S&P and Nasdaq above the July 21 highs. The July 21 highs failed to move above the May 12 highs. The May 12 highs were significantly short of the April 26 highs. Despite the obvious downtrend, investors get as excited about dead end bounces as ever. This is not a bullish omen. In fact, according to the ETF Profit Strategy Newsletter's technical analysis, the steepest leg of the decline is still ahead. Before we look at more technical details, let's browse through some fundamental factors that reflect the current state of denial:

Don't Worry About Bank Failures

111 banks were added to the FDIC's failed bank list thus far in 2010. At the same time last year, only 76 banks had been shut down. According to an FDIC press release, Metro Bank of Dade County had total assets of $442.3 million and total deposits of $391.3 million. Assets outweigh liabilities by $51 million. That's good, but apparently not accurate. According to the FDIC's press release, closing Metro Bank will cost the FDIC $67.6 million. Why? Because an accounting trick allows banks to artificially inflate their assets. The accounting trick allowed this small bank to overstate its assets by about 25%. Other banks on the FDIC list overstated their assets by more than 50%. Imagine the size of the problem, considering that the four biggest banks (NYSEArca: KBE - News) of the country have about $7.5 trillion in combined assets. We should also point out that none of those losses technically affect earnings, at least not yet (for a detailed analysis refer to the June issue of the ETF Profit Strategy Newsletter).

Don't Worry About Falling Real Estate

The National Association of Home Builders reported that its monthly reading of builder's sentiment about the housing market sank to 14, the lowest level since March 2009. Unlike other economic indicators, this index is taken from builders that have their finger on the pulse of Main Street and is forward looking. Despite the rally in equities (NYSEArca: VTI - News) and real estate (NYSEArca: IYR - News), homebuilders (NYSEArca: XHB - News) never really saw light at the end of the tunnel.

Don't Worry About Foreclosures

According to RealtyTrac, more than 1 million American households are likely to lose their homes to foreclosure this year. This is about 10 times as high as during an average year. 25% of the U.S. household sector has a sub-600 FICO score. Yet, Fannie Mae is offering financing to first-time buyers who only have a $1,000 down-payment. Nearly $150 billion have been spent to keep the doors of Fannie, Freddie and company open. Does it make sense to artificially extend the life of a patient destined to die? In the case of Fannie, politicians seem to think that lending more money and ultimately creating more toxic assets will solve the problems. Even a third grader understands the irony of that concept. Denial is alive and well.

Don't Worry About Bankrupt States

States are in trouble. The bigger the state, the bigger the trouble it seems. California has a $1.8 trillion economy. If CA was a country, its economy would be the seventh biggest in the world, bigger than Russia. But, CA has no money. CNN reports that as many as 200,000 state workers in CA could see their pay scale slashed to minimum wage, if orders from the governor's office are followed. You don't need to be one of the 200,000 to know that is bad. To go from state salary to minimum wage is a huge drop.

Don't Worry About Falling Prices

Look around and you see a general downtrend develop: U.S. stocks (NYSEArca: IWB - News), international stocks (NYSEArca: EFA - News) and emerging market stocks (NYSEArca: EEM - News). The same applies to commodities (NYSEArca: DBC - News), real estate prices (NYSEArca: RWR - News) and consumer goods. The above-mentioned 'don't worries' all contribute to the deflationary spiral (see image below for a visual). Unemployment remains high because businesses have no pricing power. This leads to lower income, default foreclosures, and ultimately even higher unemployment. Even Bernanke knows, there is no easy fix to a deflationary cycle. Once engrained, it feeds on itself. [chart]

Don't Worry About Death Crosses

A death cross is one of the most powerful technical indicators. It occurs when the shorter simple moving average (SMA) crosses below the longer SMA. Over the last few weeks we saw literally dozens of such death crosses. Most notable was the S&P, Dow Jones and Nasdaq experiencing not only a death cross created by the 50 and 200-day SMA, but also courtesy of the 10 and 40-week SMA. Despite the rally from the July lows, the sell signal triggered by the various death crosses remained active. The fact that the Dow Jones was the only major index to rally above the June 21 highs provides an additional bearish non-confirmation. Over the past ten years, the buy/sell action triggered by the SMA crosses has a success rate of 75% - 100%. Winning trades outperformed losing trades by a ratio of at least 3:1. In investing, those are not the kind of odds you want to bet against. In other words, it's time to face reality and abandon denial. Leading up to the April highs, the ETF Profit Strategy Newsletter noted a pinnacle of denial which was reflected by investors' outright enthusiasm about stocks. At a time when approximately 8 of 10 investment advisors and newsletter writers were bullish on stocks, the ETF Profit Strategy Newsletter noted: 'The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' Since April 26, the major indexes dropped as much as 17%. Despite the recent rally, this seems to have been only the first installment of a significant decline. This decline is now in progress. In fact, the August issue of the ETF Profit Strategy Newsletter explains the one chart-pattern that explains why the next leg down will be strong and powerful. A British Historian noted decades ago that a wise person does at once what a fool does at last. Both do the same thing; only at different times. Will you get out of the markets way in time, or too late?

Still yet another one of those ‘come on!’ days. All, yes all, the data remains bad even if nothing new added to the bleak picture. Here’s a new piece of the dismally murky puzzle which belies a previous raison d’etre for rally: Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches . Previously, Walmart same store sales were actually down (overseas results were up), and, think about it. Isn’t Walmart, as essentially an american based sales agent of china products a ‘contrarian indicator’ for the the u.s.; that is , hasn’t Walmart’s rise coincided with american main street’s demise. Similarly, fraudulent wall street high frequency churn and earn programmed trade scams among many other frauds as yet unprosecuted has heralded the death knell for american business and the economy, generally. Old news at best and, that ‘not bad as expected, better than expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers were also strong. As a group retailers climbed 1.8%. Discount retail giant and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on the back of in-line earnings and an improved forecast. Home improvement retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a more positive influence over retailers. It posted better-than-expected earnings for the latest quarter, but issued a rather mixed forecast. A smaller-than-expected increase in housing starts during July didn't do anything to derail the stock this session. Housing starts for July increased 1.7% month-over-month to an annualized rate of 546,000 units, which is less than the rate of 555,000 units that had been widely anticipated. Building permits for July fell 3.1% month-over-month to an annualized rate of 565,000, which is below the rate of 573,000 that had been expected…’ But, just a push of the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily.

However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GPD, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance.

There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GPD growth in the present and then revising it lower in the subsequent quarters.’

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Kaufman on High Frequency Trading   ‘Sen. Ted Kaufman (D., Del.) has been banging the drum on the need for regulatory changes to high frequency trading for a while. His latest thoughts on the matter take the form of a letter to SEC Chairwoman Mary Schapiro urging — among other things — major high-frequency trading firms be required to register with the Securities and Exchange Commission. Dow Jones Newswires’ Jacob Bunge reports:

In addition, regulators should consider requiring chief executives of computer-driven trading firms to certify under oath that their algorithms do not manipulate prices in U.S. stock and derivative markets, according to Kaufman.

“In the aftermath of the flash crash, this is an historic moment for the Commission, a moment when it must fulfill its obligation as steward for those investors who lack the clout of Wall Street’s largest financial players,” the senator wrote in an Aug. 5 letter to Mary Schapiro, chairman of the SEC.

Kaufman’s letter to Schapiro came as the SEC and the Commodity Futures Trading Commission prepare to issue in early September a final report on the market events of May 6, when the Dow Jones Industrial Average dropped by nearly 1,000 points before swiftly recovering.

As we’ve noted before, at the heart of events of the May 6 “Flash Crash,” was a decision by certain market makers to cut back trading, and in some cases pull out of the market all together. Since so much of the market’s liquidity comes from high-frequency trading or statistical-arbitrage firms, some say there should be additional obligations to ensure that these firms don’t pull out of the market.

Last week, New York Sen. Chuck Schumer offered some of his suggestions on how to sort out the obligations of market makers, whom he seemed somewhat sympathetic toward. He noted that since some of the obligations he proposed were “burdensome and making markets is voluntary … the Commission should consider appropriate incentives for high frequency traders to become market makers.”

Kaufman seems to be taking a tougher line with respect to market makers. In his letter to the SEC he writes:

The SEC should impose some liquidity provision obligations on high frequency traders. Enhanced requirements should be crafted to encourage high frequency traders to post two-sided markets and supply investors with a consistent source of deep liquidity. In addition to affirmative liquidity provision obligations, the Commission should consider instituting negative obligations as well.

We have a hunch on which approach the industry is likely to prefer. At any rate, the Kaufman letter is worth a read for market wonks. Check it out.’

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

The Bond Market Is Signaling Trouble Ahead Claus Vogt | My outlook for the economy and the stock market has steadily and significantly deteriorated since March 2010.

China Drains Obama Stimulus Meant for U.S. Economy Bloomberg | Globalization is pitting the Wangs in China or Gandhis in India against the Smiths in the U.S. or Gonzalezes in Spain.

Chossudovsky: China could already be world’s largest economy It’s widely predicted that China’s economy will be the largest in the world by 2020, overtaking the U.S. Only this week the country surpassed Japan to become the world’s second biggest economy by GDP.

Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”, And The Violent End Game Approaches Those patiently following the Greek Bond-Bund spread to its inevitable conclusion have been fully aware that the plan that Europe is betting its entire future on, is patently flawed: namely that austerity, by its definition does not, and will not work.

Malaysian Province Moves To Gold And Silver-Based Currency In “Main Islamic Event Of The Last 100 Years” More world governments are “just saying no” to the ponzi. Last week, the Malaysian government of Kelantan “said it was introducing a new monetary system featuring standardised gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire.”

Analysts Foresee $1,300 Gold By Year-End Worries about a fragile U.S. economy are likely to keep investors shifting toward gold and could push the metal to fresh record highs near the $1,300 area by year-end, analysts and traders say.

Kicked In The Groin: Health Insurance Companies Are Dramatically Increasing Premiums Due To The New Health Care Law And There Is Not Much We Can Do About It Wasn’t the new health care reform law supposed to make health care more affordable for everyone? Well, imagine my surprise when I opened up a letter from my health insurance company recently and found out that my health insurance premiums were going up by nearly 50 percent.

geithner: Fannie, Freddie in need of overhaul (Washington Post) Now this is an understatement from tiny tim, God bless us everyone. I think tiny tim’s more concerned with public perception over their haul of taxpayer dollars.

Manufacturing, housing sectors exhibit diverging fortunes (Washington Post) I’d say understatement but I truly don’t know what this headline means juxtaposed with ‘fortunes’.

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

China Slashes U.S. Government Bond Holdings By The Largest Amount Ever China began reducing its holdings of U.S. government bonds again in June, and in fact cut just its holdings by the largest 1-month amount ever.

18 Signs That America Is Rotting Right In Front Of Our Eyes Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying.

Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’ As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically unscathed.

Tons of gold imports turn to dust on arrival Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

`Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS... Bankruptcies Reach Nearly 5-Year High... REPORT: China targets U.S. troops with arms buildup...`
`Military power growing...`
`Pentagon warning...`
`Risky game on the high seas...`
`How long can America fend off the dragon? 'Without a revolution, Americans are history'...`

From Good to Mediocre ‘Through last Friday, 2,127 US companies had reported quarterly numbers this earnings season. What started out as a strong earnings season is going out with a whimper (earnings season ends tomorrow with Wal-Mart's report)…’

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

Without a Revolution, Americans Are History The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”

How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO As if its rivals didn’t have reason enough to hate Goldman Sachs (GS), they’ve just been given one more reason.

China Favors Euro Over Dollar as Bernanke Alters Path Bloomberg | China, whose $2.45 trillion in foreign-exchange reserves are the world’s largest, is turning bullish on Europe and Japan at the expense of the U.S.

High Probability for Lower Market Prices Ahead ‘…Economic numbers being what they are (very poor), we should expect a downward revision of second quarter GDP to 1.5% from the originally disappointing number of 2.4%. As more data is being released it is apparent that we are witnessing even further deterioration here in the third quarter…We may have reached a tipping point where many are tired of others being the benefactors of taxpayer money …’

Gold Providing Safety During Market Downturn ‘ … The death cross occurs when the 50 day moving average crosses the 200 day moving average on the downside. These patterns, when combined with other technical indicators can predict major market downturns…THE ODDS OF A LONG TERM DOWNTREND ARE BECOMING HIGHLY PROBABLE. THESE SIGNALS COULD POSSIBLY INDICATE THE START OF A TWELVE TO EIGHTEEN MONTH DOWN CYCLE. Gold, on the other hand, has shown great relative strength despite the general markets correcting and negative sentiment about the economy from Washington…’

Pension check may not be in the mail Chicago Tribune | Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits

Back to School? Bring Your Own Toilet Paper New York Times | “The first time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper, said of the list, which also included perennials like glue sticks, scissors and crayons.

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Obama Says Private Accounts Would Endanger U.S. Social Security Benefits President Barack Obama said Republican proposals to have people invest Social Security benefits in private accounts would increase the U.S. budget deficit and put retirement money at risk to “the whims of Wall Street traders.”

The Trade Deficit Nightmare When they hear the word deficit, most Americans immediately think of the U.S. government budget deficit which is rapidly spiralling out of control.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal Reserve is undertaking a “dangerous gamble” by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

China surpasses Japan as world's No. 2 economy (Washington Post)   [ As if we didn’t see that coming! ]

Dr David Kelly was on a hitlist, says UN weapons expert as calls grow for full inquest Mail Online | Dr Richard Spertzel claimed Dr Kelly was on a ‘hitlist’ in the final years of his life.

Iran Attack This Week? Kurt Nimmo | John Bolton and the neocons refuse to accept that Iran’s facility will produce nuclear energy and insist it will be used to create nuclear weapons.

The Hidden Tragedy of the CIA’s Experiments on Children Shortly after deciding to initiate her own LSD experiments on children, Bender attended a conference sponsored by a CIA front group, the Josiah Macy Foundation.

Shilling for War on Iran I guess I was naïve in thinking that The Atlantic and its American-Israeli writer Jeffrey Goldberg might shy away from arguing for yet another war — this one with Iran — while the cauldrons are still boiling in Afghanistan and Iraq. Even world-class chutzpah must have its limits, I had thought.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

Drudgereport: `O FALLS TO NEW LOW AT GALLUP DAILY... China overtakes Japan as No. 2 economy...`
`China Favoring Euros Over Dollars...'Without a revolution, Americans are history'...`
`NEWSWEEK: World's Best Country: Finland [USA #11]...`
`House to cut food stamps to fund Mrs. Obama's 'let's move' initiative... Banks to benefit most from White House effort to fight foreclosures... Petraeus: 'We're doing everything we can' …[Sounds like a plan!]...`
`Builds Case for 'Success' in Afghanistan …[If only words could make it so!]...`
`Karzai asks Obama for review of war...`
`Foreign troops deaths pass 2,000... MYSTERY: West Wing of White House covered in tarp...`
`Harvard University fund sells all israel holdings... … UPDATE: Harvard insists israeli shares sale not driven by boycott... GOOGLEVERIZON Deal: Fears for Privacy...`

HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On Friday August 13, 2010, ‘… The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late

When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media

By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.

April 19, 2010 'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' - Bloomberg

April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal

April 27, 2010 'Greece contagion fears unfounded' - Reuters

May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' - Bloomberg

Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash

In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), UltraShort Russell 2000 ProShares (NYSEArca: TWM - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate

On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust

Even when basing the current P/E ratio on overly optimistic estimates, it is still far away from the P/E ratios seen at historic market bottoms. The same holds true for dividend yields. A look at various valuation measures shows that the market is overvalued by much more than just 10 or 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy…’

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract … After decades of abuse, it’s time for the Fed to take make a dramatic exit, because the US economy can’t take it anymore.’

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

The Dollar’s Third and Final Act LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful If you haven’t seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it’s going to feel like it is.

Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

States get grants to help regulate health insurance rates (Washington Post) Sounds like a plan … born of capital hill math; viz., ie., just sayin’, $1 million for a bureaucracy that will cost many millions, even as states like the nation itself are defacto bankrupt.

Regulators consider toughening overdraft rules even more (Washington Post) Wow! They’re tough … when talking millions instead of the hundreds of billions of taxpayer funds they’ve frittered away. You can’t make this stuff up!

Barclays Bank agrees to forfeit $298 million to authorities (Washington Post) Well, they haven’t gotten to the point just yet where it’s just not worth doing business in america, but they’re workin’ on it and getting’ there!

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Makeup of Obama's housing reform panel draws ire (Washington Post) [Wow! Talk about late to the party! I mean … a conference? It’s not as if this was some new or novel problem coming down the pike. Then there’s the everything but the core issue / problem approach that seems recurringly fashionable.] Advocates say that the administration is excluding consumer and community groups from playing prominent roles in a government-sponsored conference next week that will kick off efforts to overhaul national housing policy.

Economic indicators reflect weak recovery (Washington Post) [Recovery? I say they’re dreamin’! So does Schiff, (Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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 ).

Warnings: Social Security at risk (Washington Post) [ Not this again! It bears repeating, that was always a bad idea and there was a plethora of reasons set forth on my site as to why the social security privatization plan being shilled by moron war criminal dumbya bush on behalf of the wall street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as america / the social security system is, the nation and system would have been wiped out by privatization debacle. Talk about too big to, but still failed. It was a bad idea then, and though accusations may fly as to fear mongering, the reality of the venality attendant to such a preposterous course on behalf of the wall street frauds requires vigilance, scrutiny, and discourse concerning even the remote possibility of such a fool-hearty betrayal of the citizenry of the nation. As such, as off the mark as wobama has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama says GOP wants to privatize program, but liberals see a different threat.

Foreclosures surge 9 percent in July (Washington Post) Those glass-half-full frauds on wall street along with the administration will be cheering this unequivocally bad news with a dubious retort as ‘used home sales will rise’ … riiiight! Anything you say …

Stocks dip for third straight day (Washington Post) [Investor fears? How ‘bout reality. Even an essentially non-business site as Drudge has the pulse of this pervasive realization that ‘those dogs of happy days are here again don’t hunt no more’. Check the heads: `DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments... DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... and`Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression. `My take:` This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed

Pearlstein: The FCC and the bandwidth wars (Washington Post) [The internet has been among the few areas of growth and american prominence, at least at this point in time. Clearly, as with the throng that heralded in NAFTA, the self-interested voices of ie., google, verizon, etc., are similarly anathema to the greater good (as was NAFTA). Berners-Lee spoke against such parochialism in no uncertain terms, much as did Ross Perot on NAFTA and history has proven Perot correct as is so of the mind numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

AP Business Highlights ‘Jobs picture dims as unemployment claims rise WASHINGTON (AP) -- The economy is looking bleaker as new applications for jobless benefits rose last week to the highest level in almost six months. It's a sign that hiring remains weak and employers may be going back to cutting their staffs. Analysts say the increase suggests companies won't be adding enough workers in August to lower the 9.5 percent unemployment rate. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. That's the highest total since February. Analysts had expected claims to fall…’

Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!] AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest AAII Sentiment Survey. Despite the size of the increase, the proportion of individual investors expecting stock prices to rise over the next six months is only at a two-week high. The historical average is 39%. Neutral sentiment, expectations that stock prices will stay essentially flat over the next six months, fell 1.3 percentage points to 30.1%. The historical average is 31%. Bearish sentiment, expectations that stock prices will fall, dropped 8.1 percentage points to 30.1%. This is a 14-week low. The historical average is 30%. The survey period, Thursday through Wednesday, needs to be taken into consideration when looking at these results. Stock prices were essentially flat through most of this week's survey period (with the obvious exception of yesterday), giving some investors hope that a short-term bottom had been established. Though there were big changes in bullish and bearish sentiment, both optimism and pessimism are close to their historical averages. As a result, I would argue that individual investors' confidence in the market remains fragile…’

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer A SOLID TRACK RECORD **An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. ..LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed… Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal ... When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE …High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`PAPER: 10 reasons why Obama presidency is in meltdown...`
`GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%... Obama abolishes White House position dedicated to transparency...`

`Michelle Obama popularity falls...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.



Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Bombshell: Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA files that document the agency’s connections to the lives of Barack Obama and his mother, father, grandmother, and stepfather.

CIA Launches “Counterproliferation Center” as Iran Attack Rhetoric Kicks Into High Gear Kurt Nimmo | CIA will peddle propaganda required to sell the increasingly irrelevant American people future wars.

Ron Paul: The American Empire Can’t Afford Another War Infowars.com | Alex welcomes back Congressman Ron Paul to the show to discuss the latest on Iran, legislation in the house, and more.

Ventura Warns Of Homeland Security “Gestapo” Takeover of America Paul Joseph Watson & Aaron Dykes | In an exclusive video for Prison Planet.tv subscribers, fmr Gov. Jesse Ventura warns that Homeland Security is rapidly becoming the American Gestapo, while also discussing some Hollywood secrets & more.

Air Force Issues Memo Warning Soldiers, Employees Not to Read WikiLeaks Docs Kurt Nimmo | Memo confirms that the Pentagon is monitoring web activity of its soldiers and employees.

9/11 Heroes Blast Obama: Forget The Mosque, We’re Dying Hero 9/11 first responders, many of whom are sick and dying, have slammed Obama in an open letter for ignoring their plight while taking the time to outline views on a proposed mosque close to ground zero, the site of the 2001 attacks that felled the twin towers.

Chaos Erupts in California as Over-Taxed Residents Express Outrage The city of Bell, CA has recently been exposed for having corrupt and overpaid city officials receiving salaries larger than the President of the United States. Residents who have recently learned they were over-taxed to pay for the government workers took control of a City Council meeting and demanded resignations.

Pelosi Wants Ground Zero Mosque Opponents Investigated House Speaker Nancy Pelosi has called for opponents of the proposed Ground Zero mosque to be investigated in order to establish who is funding their activities, in a throwback to how Pelosi also claimed that the Tea Party was a phony “astroturf” movement being orchestrated by the Republican hierarchy.

China Reacts Angrily To Pentagon Report Beijing reacted angrily Wednesday to a Pentagon report expressing worries about China’s burgeoning military capabilities, calling such concerns baseless.

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Former Pakistani Intel Chief Fears World War Three Is Imminent Former Pakistani General and intelligence chief Hamid Gul appeared on the Alex Jones Show yesterday for a full hour in what turned out to be a fascinating extended interview, addressing the major geopolitical issues that are shaping modern history.

Neocon Bolton Renews Call for Israel to Bomb Iran Last Friday the former interim UN ambassador during the Bush administration went on Fox News and warned that if Israel did not conduct a bombing raid against Iran’s nuclear energy program within a few days, the window of opportunity would be lost. Bolton made his comment following a report last week that Russia will begin loading nuclear fuel at Iran’s Bushehr reactor on July 21.
Google search: ‘bolton, neocon, mental problems’ About 143,000 results (0.37 seconds)
Here’s the first of many pages. Yeah … he’s that bad / psychotic!
· Think Progress » John Bolton jokes about nuking Chicago, entire ...

Feb 26, 2009 ... Bolton, the NEOCON gift that keeps on giving the Repuglycans zero ... The problem with McCain was this. As a veteran and a POW he get's high marks. ..... to get some treatment at the closest mental health facility. ...
thinkprogress.org/2009/02/26/bolton-nukes-chicago/ - Cached - Similar

· Think Progress » Even After North Korea Frees American Journalists ...

Aug 4, 2009 ... Bolton, like all neocons, doesn't understand that there is ..... Of course, we all know it was BUSH who caused the problem in the first place, right? .... they view the world in the light of their own mental disorder, ...
thinkprogress.org/2009/08/.../bolton-north-korea-journalists/ - Cached - Similar

Show more results from thinkprogress.org

· Breaking: Neocon John Bolton Names Dick Cheney "Conservative Of ...

Dec 21, 2009 ... Re: Breaking: Neocon John Bolton Names Dick Cheney "Conservati ... republicanism/conservatism is a mental illness that is killing America and ... Problem is one side will shamelessly try and stack the deck in their favor ...
crooksandliars.com › Blogs › Logan Murphy's blog - Cached - Similar

· John Bolton's Astonishing Neo-Neo-con Rewrite of History ...

Apr 17, 2007 ... On March 25, John Bolton was interviewed by BBC Newsnight's Jeremy Paxman (video here). ... I think the real problem was in not relying more on Iraqis. .... BTW, a mental giant, you are not. The best thing to happen to ...
www.democrats.com › Blogs › Bob Fertik's blog - Cached

· Bolton suggests nuclear attack on Iran « LobeLog.com

Bolton and his neo-con crazies aren't setting the agenda anymore, ... And I do not mean the mental condition of Mr Bolton and his fellow neocons. ...
www.lobelog.com/bolton-suggests-nuclear-attack-on-iran/ - Cached - Similar

· Don't Hold Your Breath, Ambassador Bolton - Atlas Shrugs

May 26, 2009 ... It's a special kind of mental illness. ... Bolton has been derided as "the neocon's neocon" who "laps up the hosannas of fellow ...
atlasshrugs2000.typepad.com/.../dont-hold-your-breath-ambassador-bolton.html - Cached

· The BRAD BLOG : The Fall of the NeoCons: Bye Bye Bolton

Dec 4, 2006 ... Clyburn: E-Vote 'Hacked'; Rawl: 'Systemic Software Problems' .... Add 'The Fall of the NeoCons: Bye Bye Bolton' to Del.icio · Add 'The ... The Army's Lack of Mental Health Treatment for Returning Troops" NEXT STORY » ...
www.bradblog.com/?p=3873 - Cached

· Ambassador John Bolton: Israel Has 8 Day Deadline to Attack Iran ...

30 posts - 4 authors - Last post: 21 hours ago

"Religion is science for the mental ill" - Myself ... John Bolton is a Bush neo con,,, obviously broke and needing the money. ...
www.godlikeproductions.com/forum1/message1163684/pg2

Get more discussion results

· [World Wide News Flash] Bolton

New article on darkpolitricks: Neocon Bolton Renews Call for Israel to Bomb Iran http: darkpoltweeter (Dark Politricks RT): New article on darkpolitricks: ...
www.wwnewsflash.com/bolton

Get more results from the past 24 hours

· [PDF]

The Neocon Factor in - The Zealots of Dominance: The Neocon Factor ...

File Format: PDF/Adobe Acrobat - Quick View
a sweeping diagnosis, it's clear that mental health has been a problem within ...... Neocon icon John Bolton, Bush's abrasive former Ambassador to the UN, ...
www.sf911truth.org/neocons.pdf

Ban Ki-moon’s Top Advisor: Scientific Elite Should Spearhead Global Population Control “The fertility reduction and stabilization of population is crucial. He (Sachs) concluded by urging for the adoption of a globally agreed action plan at next year’s Summit to achieve the MDGs by 2015, and proposed to form Working Groups with members of the delegations around particular themes. He characterized this effort as not negotiation, but as global problem solving and suggested that the Working Groups would brainstorm on the globally agreed plan.”

Obama, the one-term president [ The fact is, as I’ve previously commented, he’s ok with and has already accepted his one-term ‘being there’ failed presidency which explains his huge divergence from his promised change, among other promises and the false expectations he created thereby. He lacks courage, of course; but that’s become so typically american and he’s very typical. ] Q: Will Barack Obama be a one-term president? A: Yes, he might last that long.

Dreaded Hindenburg Omen Will Play Out Within 4 Weeks UBS Financial Services Director Art Cashin says that we’ll know within 3 or 4 weeks whether the dreaded Hindenburg Omen, a set of market factors that precede a stock market collapse, will unfold as many are now predicting.

Desperately Seeking Accommodation: Iran Offers U.S. Chance to Build Nuclear Power Plants Kurt Nimmo | It is extremely unlikely the U.S. take Iran up on the offer.

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

8-17-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

More Fuel For a Bigger Decline Simon Maierhofer, On Tuesday August 17, 2010, 4:18 pm EDT A French proverb states that a fault denied is committed twice. Denial, as blissful as it is for the time being, does not serve as protection against the inevitable.A perfect example of denial is the May 6 flash crash. Neither Wall Street, the financial media, nor investors wanted to see the danger of such a meltdown beforehand. After it happened, they were in denial about the cause.

Denial is Bliss

The simple truth is that the market was ripe for a major correction. A few weeks before the flash crash, the ETF Profit Strategy Newsletter noted the extremely low CBOE Equity Put/Call Ratio and warned: 'It seems that only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' As it turns out, there was no clumsy-fingered trader at fault for the decline that reduced the Dow (DJI: ^DJI) by more than 1,000 points in one day. If it had been a simple error, stocks wouldn't have fallen to new lows after the flash crash. If it had been a simple error, the S&P (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) wouldn't still be trading below the flash crash close.

The Reality of Denial

But, that's the power of denial. Since the April 26 highs, the S&P has been moving from lower highs to lower lows. On July 1, the S&P had arrived at 1,011. The ensuing rally lifted the markets by nearly 10%, but failed to push the S&P and Nasdaq above the July 21 highs. The July 21 highs failed to move above the May 12 highs. The May 12 highs were significantly short of the April 26 highs. Despite the obvious downtrend, investors get as excited about dead end bounces as ever. This is not a bullish omen. In fact, according to the ETF Profit Strategy Newsletter's technical analysis, the steepest leg of the decline is still ahead. Before we look at more technical details, let's browse through some fundamental factors that reflect the current state of denial:

Don't Worry About Bank Failures

111 banks were added to the FDIC's failed bank list thus far in 2010. At the same time last year, only 76 banks had been shut down. According to an FDIC press release, Metro Bank of Dade County had total assets of $442.3 million and total deposits of $391.3 million. Assets outweigh liabilities by $51 million. That's good, but apparently not accurate. According to the FDIC's press release, closing Metro Bank will cost the FDIC $67.6 million. Why? Because an accounting trick allows banks to artificially inflate their assets. The accounting trick allowed this small bank to overstate its assets by about 25%. Other banks on the FDIC list overstated their assets by more than 50%. Imagine the size of the problem, considering that the four biggest banks (NYSEArca: KBE - News) of the country have about $7.5 trillion in combined assets. We should also point out that none of those losses technically affect earnings, at least not yet (for a detailed analysis refer to the June issue of the ETF Profit Strategy Newsletter).

Don't Worry About Falling Real Estate

The National Association of Home Builders reported that its monthly reading of builder's sentiment about the housing market sank to 14, the lowest level since March 2009. Unlike other economic indicators, this index is taken from builders that have their finger on the pulse of Main Street and is forward looking. Despite the rally in equities (NYSEArca: VTI - News) and real estate (NYSEArca: IYR - News), homebuilders (NYSEArca: XHB - News) never really saw light at the end of the tunnel.

Don't Worry About Foreclosures

According to RealtyTrac, more than 1 million American households are likely to lose their homes to foreclosure this year. This is about 10 times as high as during an average year. 25% of the U.S. household sector has a sub-600 FICO score. Yet, Fannie Mae is offering financing to first-time buyers who only have a $1,000 down-payment. Nearly $150 billion have been spent to keep the doors of Fannie, Freddie and company open. Does it make sense to artificially extend the life of a patient destined to die? In the case of Fannie, politicians seem to think that lending more money and ultimately creating more toxic assets will solve the problems. Even a third grader understands the irony of that concept. Denial is alive and well.

Don't Worry About Bankrupt States

States are in trouble. The bigger the state, the bigger the trouble it seems. California has a $1.8 trillion economy. If CA was a country, its economy would be the seventh biggest in the world, bigger than Russia. But, CA has no money. CNN reports that as many as 200,000 state workers in CA could see their pay scale slashed to minimum wage, if orders from the governor's office are followed. You don't need to be one of the 200,000 to know that is bad. To go from state salary to minimum wage is a huge drop.

Don't Worry About Falling Prices

Look around and you see a general downtrend develop: U.S. stocks (NYSEArca: IWB - News), international stocks (NYSEArca: EFA - News) and emerging market stocks (NYSEArca: EEM - News). The same applies to commodities (NYSEArca: DBC - News), real estate prices (NYSEArca: RWR - News) and consumer goods. The above-mentioned 'don't worries' all contribute to the deflationary spiral (see image below for a visual). Unemployment remains high because businesses have no pricing power. This leads to lower income, default foreclosures, and ultimately even higher unemployment. Even Bernanke knows, there is no easy fix to a deflationary cycle. Once engrained, it feeds on itself. [chart]

Don't Worry About Death Crosses

A death cross is one of the most powerful technical indicators. It occurs when the shorter simple moving average (SMA) crosses below the longer SMA. Over the last few weeks we saw literally dozens of such death crosses. Most notable was the S&P, Dow Jones and Nasdaq experiencing not only a death cross created by the 50 and 200-day SMA, but also courtesy of the 10 and 40-week SMA. Despite the rally from the July lows, the sell signal triggered by the various death crosses remained active. The fact that the Dow Jones was the only major index to rally above the June 21 highs provides an additional bearish non-confirmation. Over the past ten years, the buy/sell action triggered by the SMA crosses has a success rate of 75% - 100%. Winning trades outperformed losing trades by a ratio of at least 3:1. In investing, those are not the kind of odds you want to bet against. In other words, it's time to face reality and abandon denial. Leading up to the April highs, the ETF Profit Strategy Newsletter noted a pinnacle of denial which was reflected by investors' outright enthusiasm about stocks. At a time when approximately 8 of 10 investment advisors and newsletter writers were bullish on stocks, the ETF Profit Strategy Newsletter noted: 'The message conveyed by the composite bullishness is unmistakably bearish. The pieces are in place for a major decline.' Since April 26, the major indexes dropped as much as 17%. Despite the recent rally, this seems to have been only the first installment of a significant decline. This decline is now in progress. In fact, the August issue of the ETF Profit Strategy Newsletter explains the one chart-pattern that explains why the next leg down will be strong and powerful. A British Historian noted decades ago that a wise person does at once what a fool does at last. Both do the same thing; only at different times. Will you get out of the markets way in time, or too late?

Another one of those ‘come on!’ days. All, yes all, the data was bad. Walmart same store sales were actually down (overseas results were up), and, think about it. Isn’t Walmart, as essentially an american based sales agent of china products a ‘contrarian indicator’ for the the u.s.; that is , hasn’t Walmart’s rise coincided with american main street’s demise. Similarly, fraudulent wall street high frequency churn and earn programmed trade scams among many other frauds as yet unprosecuted has heralded the death knell for american business and the economy, generally. Old news at best and, that ‘not bad as expected, better than expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers were also strong. As a group retailers climbed 1.8%. Discount retail giant and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on the back of in-line earnings and an improved forecast. Home improvement retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a more positive influence over retailers. It posted better-than-expected earnings for the latest quarter, but issued a rather mixed forecast. A smaller-than-expected increase in housing starts during July didn't do anything to derail the stock this session. Housing starts for July increased 1.7% month-over-month to an annualized rate of 546,000 units, which is less than the rate of 555,000 units that had been widely anticipated. Building permits for July fell 3.1% month-over-month to an annualized rate of 565,000, which is below the rate of 573,000 that had been expected…’ But, just a push of the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Are You Ready For How Bad It Will Get? Graham Summers** | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily.

However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GPD, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance.

There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GPD growth in the present and then revising it lower in the subsequent quarters.’

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

Kaufman on High Frequency Trading   ‘Sen. Ted Kaufman (D., Del.) has been banging the drum on the need for regulatory changes to high frequency trading for a while. His latest thoughts on the matter take the form of a letter to SEC Chairwoman Mary Schapiro urging — among other things — major high-frequency trading firms be required to register with the Securities and Exchange Commission. Dow Jones Newswires’ Jacob Bunge reports:

In addition, regulators should consider requiring chief executives of computer-driven trading firms to certify under oath that their algorithms do not manipulate prices in U.S. stock and derivative markets, according to Kaufman.

“In the aftermath of the flash crash, this is an historic moment for the Commission, a moment when it must fulfill its obligation as steward for those investors who lack the clout of Wall Street’s largest financial players,” the senator wrote in an Aug. 5 letter to Mary Schapiro, chairman of the SEC.

Kaufman’s letter to Schapiro came as the SEC and the Commodity Futures Trading Commission prepare to issue in early September a final report on the market events of May 6, when the Dow Jones Industrial Average dropped by nearly 1,000 points before swiftly recovering.

As we’ve noted before, at the heart of events of the May 6 “Flash Crash,” was a decision by certain market makers to cut back trading, and in some cases pull out of the market all together. Since so much of the market’s liquidity comes from high-frequency trading or statistical-arbitrage firms, some say there should be additional obligations to ensure that these firms don’t pull out of the market.

Last week, New York Sen. Chuck Schumer offered some of his suggestions on how to sort out the obligations of market makers, whom he seemed somewhat sympathetic toward. He noted that since some of the obligations he proposed were “burdensome and making markets is voluntary … the Commission should consider appropriate incentives for high frequency traders to become market makers.”

Kaufman seems to be taking a tougher line with respect to market makers. In his letter to the SEC he writes:

The SEC should impose some liquidity provision obligations on high frequency traders. Enhanced requirements should be crafted to encourage high frequency traders to post two-sided markets and supply investors with a consistent source of deep liquidity. In addition to affirmative liquidity provision obligations, the Commission should consider instituting negative obligations as well.

We have a hunch on which approach the industry is likely to prefer. At any rate, the Kaufman letter is worth a read for market wonks. Check it out.’

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

China Slashes U.S. Government Bond Holdings By The Largest Amount Ever China began reducing its holdings of U.S. government bonds again in June, and in fact cut just its holdings by the largest 1-month amount ever.

18 Signs That America Is Rotting Right In Front Of Our Eyes Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying.

Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’ As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically unscathed.

Tons of gold imports turn to dust on arrival Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

`Drudgereport: Bankruptcies Reach Nearly 5-Year High... REPORT: China targets U.S. troops with arms buildup...`
`Military power growing...`
`Pentagon warning...`
`Risky game on the high seas...`
`How long can America fend off the dragon? 'Without a revolution, Americans are history'...`

From Good to Mediocre ‘Through last Friday, 2,127 US companies had reported quarterly numbers this earnings season. What started out as a strong earnings season is going out with a whimper (earnings season ends tomorrow with Wal-Mart's report)…’

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

Without a Revolution, Americans Are History The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”

How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO As if its rivals didn’t have reason enough to hate Goldman Sachs (GS), they’ve just been given one more reason.

China Favors Euro Over Dollar as Bernanke Alters Path Bloomberg | China, whose $2.45 trillion in foreign-exchange reserves are the world’s largest, is turning bullish on Europe and Japan at the expense of the U.S.

High Probability for Lower Market Prices Ahead ‘…Economic numbers being what they are (very poor), we should expect a downward revision of second quarter GDP to 1.5% from the originally disappointing number of 2.4%. As more data is being released it is apparent that we are witnessing even further deterioration here in the third quarter…We may have reached a tipping point where many are tired of others being the benefactors of taxpayer money …’

Gold Providing Safety During Market Downturn ‘ … The death cross occurs when the 50 day moving average crosses the 200 day moving average on the downside. These patterns, when combined with other technical indicators can predict major market downturns…THE ODDS OF A LONG TERM DOWNTREND ARE BECOMING HIGHLY PROBABLE. THESE SIGNALS COULD POSSIBLY INDICATE THE START OF A TWELVE TO EIGHTEEN MONTH DOWN CYCLE. Gold, on the other hand, has shown great relative strength despite the general markets correcting and negative sentiment about the economy from Washington…’

Pension check may not be in the mail Chicago Tribune | Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits

Back to School? Bring Your Own Toilet Paper New York Times | “The first time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper, said of the list, which also included perennials like glue sticks, scissors and crayons.

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Obama Says Private Accounts Would Endanger U.S. Social Security Benefits President Barack Obama said Republican proposals to have people invest Social Security benefits in private accounts would increase the U.S. budget deficit and put retirement money at risk to “the whims of Wall Street traders.”

The Trade Deficit Nightmare When they hear the word deficit, most Americans immediately think of the U.S. government budget deficit which is rapidly spiralling out of control.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal Reserve is undertaking a “dangerous gamble” by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

China surpasses Japan as world's No. 2 economy (Washington Post)   [ As if we didn’t see that coming! ]

Dr David Kelly was on a hitlist, says UN weapons expert as calls grow for full inquest Mail Online | Dr Richard Spertzel claimed Dr Kelly was on a ‘hitlist’ in the final years of his life.

Iran Attack This Week? Kurt Nimmo | John Bolton and the neocons refuse to accept that Iran’s facility will produce nuclear energy and insist it will be used to create nuclear weapons.

The Hidden Tragedy of the CIA’s Experiments on Children Shortly after deciding to initiate her own LSD experiments on children, Bender attended a conference sponsored by a CIA front group, the Josiah Macy Foundation.

Shilling for War on Iran I guess I was naïve in thinking that The Atlantic and its American-Israeli writer Jeffrey Goldberg might shy away from arguing for yet another war — this one with Iran — while the cauldrons are still boiling in Afghanistan and Iraq. Even world-class chutzpah must have its limits, I had thought.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

Drudgereport: `O FALLS TO NEW LOW AT GALLUP DAILY... China overtakes Japan as No. 2 economy...`
`China Favoring Euros Over Dollars...'Without a revolution, Americans are history'...`
`NEWSWEEK: World's Best Country: Finland [USA #11]...`
`House to cut food stamps to fund Mrs. Obama's 'let's move' initiative... Banks to benefit most from White House effort to fight foreclosures... Petraeus: 'We're doing everything we can' …[Sounds like a plan!]...`
`Builds Case for 'Success' in Afghanistan …[If only words could make it so!]...`
`Karzai asks Obama for review of war...`
`Foreign troops deaths pass 2,000... MYSTERY: West Wing of White House covered in tarp...`
`Harvard University fund sells all israel holdings... … UPDATE: Harvard insists israeli shares sale not driven by boycott... GOOGLEVERIZON Deal: Fears for Privacy...`

HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On Friday August 13, 2010, ‘… The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late

When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media

By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.

April 19, 2010 'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' - Bloomberg

April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal

April 27, 2010 'Greece contagion fears unfounded' - Reuters

May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' - Bloomberg

Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash

In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), UltraShort Russell 2000 ProShares (NYSEArca: TWM - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate

On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust

Even when basing the current P/E ratio on overly optimistic estimates, it is still far away from the P/E ratios seen at historic market bottoms. The same holds true for dividend yields. A look at various valuation measures shows that the market is overvalued by much more than just 10 or 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy…’

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract … After decades of abuse, it’s time for the Fed to take make a dramatic exit, because the US economy can’t take it anymore.’

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

The Dollar’s Third and Final Act LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful If you haven’t seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it’s going to feel like it is.

Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

States get grants to help regulate health insurance rates (Washington Post) Sounds like a plan … born of capital hill math; viz., ie., just sayin’, $1 million for a bureaucracy that will cost many millions, even as states like the nation itself are defacto bankrupt.

Regulators consider toughening overdraft rules even more (Washington Post) Wow! They’re tough … when talking millions instead of the hundreds of billions of taxpayer funds they’ve frittered away. You can’t make this stuff up!

Barclays Bank agrees to forfeit $298 million to authorities (Washington Post) Well, they haven’t gotten to the point just yet where it’s just not worth doing business in america, but they’re workin’ on it and getting’ there!

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Makeup of Obama's housing reform panel draws ire (Washington Post) [Wow! Talk about late to the party! I mean … a conference? It’s not as if this was some new or novel problem coming down the pike. Then there’s the everything but the core issue / problem approach that seems recurringly fashionable.] Advocates say that the administration is excluding consumer and community groups from playing prominent roles in a government-sponsored conference next week that will kick off efforts to overhaul national housing policy.

Economic indicators reflect weak recovery (Washington Post) [Recovery? I say they’re dreamin’! So does Schiff, (Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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 ).

Warnings: Social Security at risk (Washington Post) [ Not this again! It bears repeating, that was always a bad idea and there was a plethora of reasons set forth on my site as to why the social security privatization plan being shilled by moron war criminal dumbya bush on behalf of the wall street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as america / the social security system is, the nation and system would have been wiped out by privatization debacle. Talk about too big to, but still failed. It was a bad idea then, and though accusations may fly as to fear mongering, the reality of the venality attendant to such a preposterous course on behalf of the wall street frauds requires vigilance, scrutiny, and discourse concerning even the remote possibility of such a fool-hearty betrayal of the citizenry of the nation. As such, as off the mark as wobama has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama says GOP wants to privatize program, but liberals see a different threat.

Foreclosures surge 9 percent in July (Washington Post) Those glass-half-full frauds on wall street along with the administration will be cheering this unequivocally bad news with a dubious retort as ‘used home sales will rise’ … riiiight! Anything you say …

Stocks dip for third straight day (Washington Post) [Investor fears? How ‘bout reality. Even an essentially non-business site as Drudge has the pulse of this pervasive realization that ‘those dogs of happy days are here again don’t hunt no more’. Check the heads: `DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments... DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... and`Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression. `My take:` This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed

Pearlstein: The FCC and the bandwidth wars (Washington Post) [The internet has been among the few areas of growth and american prominence, at least at this point in time. Clearly, as with the throng that heralded in NAFTA, the self-interested voices of ie., google, verizon, etc., are similarly anathema to the greater good (as was NAFTA). Berners-Lee spoke against such parochialism in no uncertain terms, much as did Ross Perot on NAFTA and history has proven Perot correct as is so of the mind numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

AP Business Highlights ‘Jobs picture dims as unemployment claims rise WASHINGTON (AP) -- The economy is looking bleaker as new applications for jobless benefits rose last week to the highest level in almost six months. It's a sign that hiring remains weak and employers may be going back to cutting their staffs. Analysts say the increase suggests companies won't be adding enough workers in August to lower the 9.5 percent unemployment rate. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. That's the highest total since February. Analysts had expected claims to fall…’

Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!] AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest AAII Sentiment Survey. Despite the size of the increase, the proportion of individual investors expecting stock prices to rise over the next six months is only at a two-week high. The historical average is 39%. Neutral sentiment, expectations that stock prices will stay essentially flat over the next six months, fell 1.3 percentage points to 30.1%. The historical average is 31%. Bearish sentiment, expectations that stock prices will fall, dropped 8.1 percentage points to 30.1%. This is a 14-week low. The historical average is 30%. The survey period, Thursday through Wednesday, needs to be taken into consideration when looking at these results. Stock prices were essentially flat through most of this week's survey period (with the obvious exception of yesterday), giving some investors hope that a short-term bottom had been established. Though there were big changes in bullish and bearish sentiment, both optimism and pessimism are close to their historical averages. As a result, I would argue that individual investors' confidence in the market remains fragile…’

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer A SOLID TRACK RECORD **An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. ..LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed… Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal ... When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE …High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`PAPER: 10 reasons why Obama presidency is in meltdown...`
`GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%... Obama abolishes White House position dedicated to transparency...`

`Michelle Obama popularity falls...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword [ I really wasn’t inclined to comment on this because it’s just not that big a deal except as to exceedingly small minds. However, I feel I must say that if the jewish Mayor of NYC who is certainly no slouch and really knows how to count thinks it’s ok, then it’s OK. Period! ] With President barack obama’s political dynasty already on life support, his decision to publicly back the hugely unpopular building of a Muslim mosque near Ground Zero confirms that Obama, or rather the advisors that pull his strings, have decided to commit political suicide and cut him loose from the Washington power structure, with the hope of fooling Americans with another establishment Republican as a legitimate alternative in 2012.

Former Pakistani Intel Chief Fears World War Three Is Imminent Former Pakistani General and intelligence chief Hamid Gul appeared on the Alex Jones Show yesterday for a full hour in what turned out to be a fascinating extended interview, addressing the major geopolitical issues that are shaping modern history.

Neocon Bolton Renews Call for Israel to Bomb Iran Last Friday the former interim UN ambassador during the Bush administration went on Fox News and warned that if Israel did not conduct a bombing raid against Iran’s nuclear energy program within a few days, the window of opportunity would be lost. Bolton made his comment following a report last week that Russia will begin loading nuclear fuel at Iran’s Bushehr reactor on July 21.
Google search: ‘bolton, neocon, mental problems’ About 143,000 results (0.37 seconds)
Here’s the first of many pages. Yeah … he’s that bad / psychotic!
· Think Progress » John Bolton jokes about nuking Chicago, entire ...

Feb 26, 2009 ... Bolton, the NEOCON gift that keeps on giving the Repuglycans zero ... The problem with McCain was this. As a veteran and a POW he get's high marks. ..... to get some treatment at the closest mental health facility. ...
thinkprogress.org/2009/02/26/bolton-nukes-chicago/ - Cached - Similar

· Think Progress » Even After North Korea Frees American Journalists ...

Aug 4, 2009 ... Bolton, like all neocons, doesn't understand that there is ..... Of course, we all know it was BUSH who caused the problem in the first place, right? .... they view the world in the light of their own mental disorder, ...
thinkprogress.org/2009/08/.../bolton-north-korea-journalists/ - Cached - Similar

Show more results from thinkprogress.org

· Breaking: Neocon John Bolton Names Dick Cheney "Conservative Of ...

Dec 21, 2009 ... Re: Breaking: Neocon John Bolton Names Dick Cheney "Conservati ... republicanism/conservatism is a mental illness that is killing America and ... Problem is one side will shamelessly try and stack the deck in their favor ...
crooksandliars.com › Blogs › Logan Murphy's blog - Cached - Similar

· John Bolton's Astonishing Neo-Neo-con Rewrite of History ...

Apr 17, 2007 ... On March 25, John Bolton was interviewed by BBC Newsnight's Jeremy Paxman (video here). ... I think the real problem was in not relying more on Iraqis. .... BTW, a mental giant, you are not. The best thing to happen to ...
www.democrats.com › Blogs › Bob Fertik's blog - Cached

· Bolton suggests nuclear attack on Iran « LobeLog.com

Bolton and his neo-con crazies aren't setting the agenda anymore, ... And I do not mean the mental condition of Mr Bolton and his fellow neocons. ...
www.lobelog.com/bolton-suggests-nuclear-attack-on-iran/ - Cached - Similar

· Don't Hold Your Breath, Ambassador Bolton - Atlas Shrugs

May 26, 2009 ... It's a special kind of mental illness. ... Bolton has been derided as "the neocon's neocon" who "laps up the hosannas of fellow ...
atlasshrugs2000.typepad.com/.../dont-hold-your-breath-ambassador-bolton.html - Cached

· The BRAD BLOG : The Fall of the NeoCons: Bye Bye Bolton

Dec 4, 2006 ... Clyburn: E-Vote 'Hacked'; Rawl: 'Systemic Software Problems' .... Add 'The Fall of the NeoCons: Bye Bye Bolton' to Del.icio · Add 'The ... The Army's Lack of Mental Health Treatment for Returning Troops" NEXT STORY » ...
www.bradblog.com/?p=3873 - Cached

· Ambassador John Bolton: Israel Has 8 Day Deadline to Attack Iran ...

30 posts - 4 authors - Last post: 21 hours ago

"Religion is science for the mental ill" - Myself ... John Bolton is a Bush neo con,,, obviously broke and needing the money. ...
www.godlikeproductions.com/forum1/message1163684/pg2

Get more discussion results

· [World Wide News Flash] Bolton

New article on darkpolitricks: Neocon Bolton Renews Call for Israel to Bomb Iran http: darkpoltweeter (Dark Politricks RT): New article on darkpolitricks: ...
www.wwnewsflash.com/bolton

Get more results from the past 24 hours

· [PDF]

The Neocon Factor in - The Zealots of Dominance: The Neocon Factor ...

File Format: PDF/Adobe Acrobat - Quick View
a sweeping diagnosis, it's clear that mental health has been a problem within ...... Neocon icon John Bolton, Bush's abrasive former Ambassador to the UN, ...
www.sf911truth.org/neocons.pdf

Ban Ki-moon’s Top Advisor: Scientific Elite Should Spearhead Global Population Control “The fertility reduction and stabilization of population is crucial. He (Sachs) concluded by urging for the adoption of a globally agreed action plan at next year’s Summit to achieve the MDGs by 2015, and proposed to form Working Groups with members of the delegations around particular themes. He characterized this effort as not negotiation, but as global problem solving and suggested that the Working Groups would brainstorm on the globally agreed plan.”

Obama, the one-term president [ The fact is, as I’ve previously commented, he’s ok with and has already accepted his one-term ‘being there’ failed presidency which explains his huge divergence from his promised change, among other promises and the false expectations he created thereby. He lacks courage, of course; but that’s become so typically american and he’s very typical. ] Q: Will Barack Obama be a one-term president? A: Yes, he might last that long.

Dreaded Hindenburg Omen Will Play Out Within 4 Weeks UBS Financial Services Director Art Cashin says that we’ll know within 3 or 4 weeks whether the dreaded Hindenburg Omen, a set of market factors that precede a stock market collapse, will unfold as many are now predicting.

Desperately Seeking Accommodation: Iran Offers U.S. Chance to Build Nuclear Power Plants Kurt Nimmo | It is extremely unlikely the U.S. take Iran up on the offer.

Deceptive Economic Statistics: While the economists lied the US economy died Paul Craig Roberts | The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Former Pakistani Intel Chief Fears World War Three Is Imminent Steve Watson | General Hamid Gul points to “dark impulse” controlling US system.

Obama: All In The Company Wayne Madsen | CIA connected to institutions and individuals figuring prominently in the lives of Barack Obama, his mother, father, grandmother, and stepfather.

Exposing World Government: United We Fall Documentary Now Featured on Prison Planet.tv Kurt Nimmo | United We Fall breaks down the North American Union and how “free trade” agreements between the United States, Canada, and Mexico are impoverishing people and stripping away national sovereignty.

The Ecstasy of Empire Paul Craig Roberts | Without a revolution, americans are history.

Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats Steve Watson | Kentucky Senate candidate Rand Paul made an impassioned speech this weekend slamming the actions of the Obama administration for continuing a big government agenda at the expense of the American people.

Hal Turner Betrayed and Burned by Government He Served Kurt Nimmo | The case of Hal Turner should serve as a warning to those considering cooperating with the government.

Internet Kill Switch Bill Moves Closer To Senate Vote An Internet kill switch bill that would give President Obama the power to shut down parts of the world wide web for a period of at least four months without congressional oversight has moved closer to a Senate vote, with one of its primary advocates, Democratic co-chairman of the House Cybersecurity Caucus Jim Langevin, threatening a “cyber-9/11″ if the legislation is not quickly passed.

Exposing World Government: United We Fall Documentary Now Featured on Prison Planet.tv United We Fall, a documentary by Bryan Law and Dan Dicks, breaks down the North American Union and how “free trade” agreements between the United States, Canada, and Mexico are impoverishing people and stripping away national sovereignty.

Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats Kentucky Senate candidate Rand Paul made an impassioned speech this weekend slamming the actions of the Obama administration for continuing a big government agenda at the expense of the interests of the American people.

AT&T claims net neutrality is oppressive US TELECOM AT&T has come out in support of Google’s contention that wireless communications are different than wireline Internet services.

Government Using Google Earth To Loot Destitute Americans Aerial imaging technology is being used by the government to spy on Americans in an effort to collect revenue and enforce ordinances on swimming pools without safety certificates, junk cars being stored without permission, unlicensed porches, and a myriad of other petty transgressions that the state is feeding off in complete violation of the Fourth Amendment to suck citizens dry of whatever income they have left after being looted of trillions of dollars in wealth that the state has transferred to foreign banks.

On Facebook: Israeli soldier posed with bound Arab (AP)

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Military Industrial Complex: Of 158 retired generals advising wars, 80% tied to defense industry; 29 are defense CEOs USA Today | Of the 158 retired generals and admirals identified as mentors, 80% had financial ties to defense contractor; 29 were company executives.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Obama Approval Rating Revisits Rock Bottom Despite Positive Media Spin Despite positive corporate media spin amidst a cacophony of criticism from both sides of the political spectrum, Barack Obama’s approval rating matched its record low today according to Rasmussen Reports.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Activists Take On Fluoridated Water in Wichita Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Illegal Immigrants Account for 8% of U.S. Newborns, Study Shows As many as 340,000 of the 4.3 million babies born in the U.S. in 2008 had at least one parent who was an illegal immigrant, according to a Pew Hispanic Center study of Census Bureau data.

Infowars.com Poll: Attack On Iran Imminent Kurt Nimmo | Nearly 60% of respondents to an Infowars.com poll believe the U.S and Israel will attack Iran in the near future.

Activists Take On Fluoridated Water in Wichita Infowars.com | Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar Yet another step in the escalation between Iran and the US came earlier today.

The Cycle of Violence in Afghanistan Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years: the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge. This should be self-evident.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

8-16-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Are You Ready For How Bad It Will Get? Graham Summers | ‘There are numerous components in the latest GDP number that are extremely suspect. The vast majority of investors are going to be taken to the cleaners. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily.

However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GPD, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance.

There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GPD growth in the present and then revising it lower in the subsequent quarters.’

AP BUSINESS HIGHLIGHTS ‘Homebuilder confidence sinks for 3rd month WASHINGTON (AP) -- Homebuilder confidence dropped for the third straight month in August as the struggling economy and a flood of cheap foreclosed properties kept people from buying new homes. The National Association of Home Builders said its monthly index of builders' sentiment about the housing market fell to 13, the lowest reading since March 2009. The index is adjusted for seasonal factors. Readings below 50 indicate negative sentiment about the market. The last time the index was above 50 was in April 2006…’

Celente: Stock Market Crash Before End of 2010 Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar.

YAHOO [BRIEFING.COM]: ’ Last week's near 4% loss made for a bit of a hangover Monday morning as stocks opened with a loss. An early bounce helped the broader market improve its position, but it still finished flat. Early participants were dealt few trading cues. Among the more notable headlines, there was lower-than-expected annualized second quarter GDP of 0.4% in Japan, renewed selling in Europe, a slightly smaller-than-expected rise in the August Empire Manufacturing Index to 7.1, and an earnings miss from home improvement retailer Lowe's (LOW 19.70, +0.11)…’

The Not-So-Brave New World of QE Whitten ‘The path of global markets going forward could well be determined by policy makers and politicians, not by natural economic incentives or the self-elightenment of "Mr. Market." Yet investor faith in the Fed, particularly as regards the effectiveness of its QE program, may be sorely misplaced. In the not-so-brave new world of QE, hedge funds, billed as some of the smartest risk takers on Wall Street, are beginning to look like ultraconservative Midwest pension funds, piling into treasuries and "safe" big-cap blue chips. According to Greenwich Associates, hedge fund trading volume in US treasuries surged by more than 70% in the past year as they focus their attention on more liquid assets. (Hedge Funds Pile into the Treasury Bond Market). A Bloomberg article notes the parallels between the Fed's actions and the failed policies of the Bank of Japan, with the US Fed predictably insisting that it isn't following the Japanese playbook … US Banks Still Hiding Losses A recent post by Edward Harrison in Seeking Alpha flatly states that the U.S. banking system as a whole is probably insolvent. (US Banks Still Hiding Losses). This is exactly what was said of Japan’s banking system before 2003. According to Harrison, "The likely future losses of loans and assets already on balance sheets at U.S. financial institutions, if incurred today, would reveal the system as a whole to lack the necessary regulatory capital to continue functioning under current guidelines.” …’

From Good to Mediocre ‘Through last Friday, 2,127 US companies had reported quarterly numbers this earnings season. What started out as a strong earnings season is going out with a whimper (earnings season ends tomorrow with Wal-Mart's report)…’

10 Signs The U.S. is Becoming a Third World Country Activist Post | Key economic indicators point to a situation potentially worse than the Great Depression.

“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?

Are You Ready For How Bad It Will Get? Graham Summers | There are numerous components in the latest GDP number that are extremely suspect.

Without a Revolution, Americans Are History The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”

Treasuries, Gold Rally as Stocks Retreat on Economy Concern Treasuries rallied, sending 10-year yields to the lowest level in more than 16 months, while stocks retreated and gold rose following reports showing weaker-than- forecast growth in New York manufacturing and Japan’s economy.

How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO As if its rivals didn’t have reason enough to hate Goldman Sachs (GS), they’ve just been given one more reason.

China Favors Euro Over Dollar as Bernanke Alters Path Bloomberg | China, whose $2.45 trillion in foreign-exchange reserves are the world’s largest, is turning bullish on Europe and Japan at the expense of the U.S.

High Probability for Lower Market Prices Ahead ‘…Economic numbers being what they are (very poor), we should expect a downward revision of second quarter GDP to 1.5% from the originally disappointing number of 2.4%. As more data is being released it is apparent that we are witnessing even further deterioration here in the third quarter…We may have reached a tipping point where many are tired of others being the benefactors of taxpayer money …’

Gold Providing Safety During Market Downturn ‘ … The death cross occurs when the 50 day moving average crosses the 200 day moving average on the downside. These patterns, when combined with other technical indicators can predict major market downturns…THE ODDS OF A LONG TERM DOWNTREND ARE BECOMING HIGHLY PROBABLE. THESE SIGNALS COULD POSSIBLY INDICATE THE START OF A TWELVE TO EIGHTEEN MONTH DOWN CYCLE. Gold, on the other hand, has shown great relative strength despite the general markets correcting and negative sentiment about the economy from Washington…’

Pension check may not be in the mail Chicago Tribune | Illinois public employees who think the state constitution guarantees that they’ll get all their pension benefits

Back to School? Bring Your Own Toilet Paper New York Times | “The first time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper, said of the list, which also included perennials like glue sticks, scissors and crayons.

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Obama Says Private Accounts Would Endanger U.S. Social Security Benefits President Barack Obama said Republican proposals to have people invest Social Security benefits in private accounts would increase the U.S. budget deficit and put retirement money at risk to “the whims of Wall Street traders.”

The Trade Deficit Nightmare When they hear the word deficit, most Americans immediately think of the U.S. government budget deficit which is rapidly spiralling out of control.

Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of things awry with this article…

Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal Reserve is undertaking a “dangerous gamble” by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

China surpasses Japan as world's No. 2 economy Washington Post

HK stocks seen lower; property in focus HONG KONG, Aug 16 (Reuters) - Hong Kong stocks are set to open weaker on Monday after the local government announced new measures to cool the property market as prices head for historic highs.

Dr David Kelly was on a hitlist, says UN weapons expert as calls grow for full inquest Mail Online | Dr Richard Spertzel claimed Dr Kelly was on a ‘hitlist’ in the final years of his life.

Iran Attack This Week? Kurt Nimmo | John Bolton and the neocons refuse to accept that Iran’s facility will produce nuclear energy and insist it will be used to create nuclear weapons.

The Hidden Tragedy of the CIA’s Experiments on Children Shortly after deciding to initiate her own LSD experiments on children, Bender attended a conference sponsored by a CIA front group, the Josiah Macy Foundation.

Shilling for War on Iran I guess I was naïve in thinking that The Atlantic and its American-Israeli writer Jeffrey Goldberg might shy away from arguing for yet another war — this one with Iran — while the cauldrons are still boiling in Afghanistan and Iraq. Even world-class chutzpah must have its limits, I had thought.

U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one.

Will Quantitative Easing By The Federal Reserve Unleash Economic Hell? The Economic Collapse | Most of the folks populating Congress are so incompetent that they should not even be hired to mop the floors of a Dairy Queen.

Drudgereport: `O FALLS TO NEW LOW AT GALLUP DAILY... China overtakes Japan as No. 2 economy...`
`China Favoring Euros Over Dollars...'Without a revolution, Americans are history'...`
`NEWSWEEK: World's Best Country: Finland [USA #11]...`
`House to cut food stamps to fund Mrs. Obama's 'let's move' initiative... Banks to benefit most from White House effort to fight foreclosures... Petraeus: 'We're doing everything we can' …[Sounds like a plan!]...`
`Builds Case for 'Success' in Afghanistan …[If only words could make it so!]...`
`Karzai asks Obama for review of war...`
`Foreign troops deaths pass 2,000... MYSTERY: West Wing of White House covered in tarp...`
`Harvard University fund sells all israel holdings... … UPDATE: Harvard insists israeli shares sale not driven by boycott... GOOGLEVERIZON Deal: Fears for Privacy...`

HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On Friday August 13, 2010, ‘… The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late

When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media

By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.

April 19, 2010 'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' - Bloomberg

April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal

April 27, 2010 'Greece contagion fears unfounded' - Reuters

May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' - Bloomberg

Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash

In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), UltraShort Russell 2000 ProShares (NYSEArca: TWM - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate

On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust

Even when basing the current P/E ratio on overly optimistic estimates, it is still far away from the P/E ratios seen at historic market bottoms. The same holds true for dividend yields. A look at various valuation measures shows that the market is overvalued by much more than just 10 or 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy…’

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract … After decades of abuse, it’s time for the Fed to take make a dramatic exit, because the US economy can’t take it anymore.’

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

The Dollar’s Third and Final Act LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful If you haven’t seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it’s going to feel like it is.

Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

Makeup of Obama's housing reform panel draws ire (Washington Post) [Wow! Talk about late to the party! I mean … a conference? It’s not as if this was some new or novel problem coming down the pike. Then there’s the everything but the core issue / problem approach that seems recurringly fashionable.] Advocates say that the administration is excluding consumer and community groups from playing prominent roles in a government-sponsored conference next week that will kick off efforts to overhaul national housing policy.

Economic indicators reflect weak recovery (Washington Post) [Recovery? I say they’re dreamin’! So does Schiff, (Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.) among other economists, (Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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 ).

Warnings: Social Security at risk (Washington Post) [ Not this again! It bears repeating, that was always a bad idea and there was a plethora of reasons set forth on my site as to why the social security privatization plan being shilled by moron war criminal dumbya bush on behalf of the wall street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as america / the social security system is, the nation and system would have been wiped out by privatization debacle. Talk about too big to, but still failed. It was a bad idea then, and though accusations may fly as to fear mongering, the reality of the venality attendant to such a preposterous course on behalf of the wall street frauds requires vigilance, scrutiny, and discourse concerning even the remote possibility of such a fool-hearty betrayal of the citizenry of the nation. As such, as off the mark as wobama has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama says GOP wants to privatize program, but liberals see a different threat.

Foreclosures surge 9 percent in July (Washington Post) Those glass-half-full frauds on wall street along with the administration will be cheering this unequivocally bad news with a dubious retort as ‘used home sales will rise’ … riiiight! Anything you say …

Stocks dip for third straight day (Washington Post) [Investor fears? How ‘bout reality. Even an essentially non-business site as Drudge has the pulse of this pervasive realization that ‘those dogs of happy days are here again don’t hunt no more’. Check the heads: `DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments... DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... and`Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression. `My take:` This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed

Pearlstein: The FCC and the bandwidth wars (Washington Post) [The internet has been among the few areas of growth and american prominence, at least at this point in time. Clearly, as with the throng that heralded in NAFTA, the self-interested voices of ie., google, verizon, etc., are similarly anathema to the greater good (as was NAFTA). Berners-Lee spoke against such parochialism in no uncertain terms, much as did Ross Perot on NAFTA and history has proven Perot correct as is so of the mind numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

AP Business Highlights ‘Jobs picture dims as unemployment claims rise WASHINGTON (AP) -- The economy is looking bleaker as new applications for jobless benefits rose last week to the highest level in almost six months. It's a sign that hiring remains weak and employers may be going back to cutting their staffs. Analysts say the increase suggests companies won't be adding enough workers in August to lower the 9.5 percent unemployment rate. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. That's the highest total since February. Analysts had expected claims to fall…’

Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!] AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest AAII Sentiment Survey. Despite the size of the increase, the proportion of individual investors expecting stock prices to rise over the next six months is only at a two-week high. The historical average is 39%. Neutral sentiment, expectations that stock prices will stay essentially flat over the next six months, fell 1.3 percentage points to 30.1%. The historical average is 31%. Bearish sentiment, expectations that stock prices will fall, dropped 8.1 percentage points to 30.1%. This is a 14-week low. The historical average is 30%. The survey period, Thursday through Wednesday, needs to be taken into consideration when looking at these results. Stock prices were essentially flat through most of this week's survey period (with the obvious exception of yesterday), giving some investors hope that a short-term bottom had been established. Though there were big changes in bullish and bearish sentiment, both optimism and pessimism are close to their historical averages. As a result, I would argue that individual investors' confidence in the market remains fragile…’

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer A SOLID TRACK RECORD **An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. ..LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed… Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal ... When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE …High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`PAPER: 10 reasons why Obama presidency is in meltdown...`
`GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%... Obama abolishes White House position dedicated to transparency...`

`Michelle Obama popularity falls...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Exposing World Government: United We Fall Documentary Now Featured on Prison Planet.tv Kurt Nimmo | United We Fall breaks down the North American Union and how “free trade” agreements between the United States, Canada, and Mexico are impoverishing people and stripping away national sovereignty.

The Ecstasy of Empire Paul Craig Roberts | Without a revolution, americans are history.

Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats Steve Watson | Kentucky Senate candidate Rand Paul made an impassioned speech this weekend slamming the actions of the Obama administration for continuing a big government agenda at the expense of the American people.

Hal Turner Betrayed and Burned by Government He Served Kurt Nimmo | The case of Hal Turner should serve as a warning to those considering cooperating with the government.

Internet Kill Switch Bill Moves Closer To Senate Vote An Internet kill switch bill that would give President Obama the power to shut down parts of the world wide web for a period of at least four months without congressional oversight has moved closer to a Senate vote, with one of its primary advocates, Democratic co-chairman of the House Cybersecurity Caucus Jim Langevin, threatening a “cyber-9/11″ if the legislation is not quickly passed.

Exposing World Government: United We Fall Documentary Now Featured on Prison Planet.tv United We Fall, a documentary by Bryan Law and Dan Dicks, breaks down the North American Union and how “free trade” agreements between the United States, Canada, and Mexico are impoverishing people and stripping away national sovereignty.

Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats Kentucky Senate candidate Rand Paul made an impassioned speech this weekend slamming the actions of the Obama administration for continuing a big government agenda at the expense of the interests of the American people.

AT&T claims net neutrality is oppressive US TELECOM AT&T has come out in support of Google’s contention that wireless communications are different than wireline Internet services.

Government Using Google Earth To Loot Destitute Americans Aerial imaging technology is being used by the government to spy on Americans in an effort to collect revenue and enforce ordinances on swimming pools without safety certificates, junk cars being stored without permission, unlicensed porches, and a myriad of other petty transgressions that the state is feeding off in complete violation of the Fourth Amendment to suck citizens dry of whatever income they have left after being looted of trillions of dollars in wealth that the state has transferred to foreign banks.

On Facebook: Israeli soldier posed with bound Arab (AP)

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Military Industrial Complex: Of 158 retired generals advising wars, 80% tied to defense industry; 29 are defense CEOs USA Today | Of the 158 retired generals and admirals identified as mentors, 80% had financial ties to defense contractor; 29 were company executives.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Obama Approval Rating Revisits Rock Bottom Despite Positive Media Spin Despite positive corporate media spin amidst a cacophony of criticism from both sides of the political spectrum, Barack Obama’s approval rating matched its record low today according to Rasmussen Reports.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Activists Take On Fluoridated Water in Wichita Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Illegal Immigrants Account for 8% of U.S. Newborns, Study Shows As many as 340,000 of the 4.3 million babies born in the U.S. in 2008 had at least one parent who was an illegal immigrant, according to a Pew Hispanic Center study of Census Bureau data.

Infowars.com Poll: Attack On Iran Imminent Kurt Nimmo | Nearly 60% of respondents to an Infowars.com poll believe the U.S and Israel will attack Iran in the near future.

Activists Take On Fluoridated Water in Wichita Infowars.com | Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar Yet another step in the escalation between Iran and the US came earlier today.

The Cycle of Violence in Afghanistan Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years: the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge. This should be self-evident.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday after noon in Edmonton Alberta posting more fliers, posters etc. had a great time had a few people harass me but nothing big. Just gave me motivation to do more!! Resistance is Victory. Never Forget that.!!

Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on wheat exports following widespread fires in the country sent food prices skyrocketing by 19 per cent in just a single week as fears grow that global volatility in foodstuffs and commodities could lead to a worldwide inflationary timebomb accompanied by widespread food riots.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people What the great French historian Alexis de Tocqueville would make of today’s Obama administration were he alive today is anyone’s guess.

The Coming Collapse of The U.S. Political Establishment The last U.S. puppet regime to fall will be. . . the puppet regime in the White House.

Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have been killed in Afghanistan so far this year, mostly by Taliban insurgents, a leading Afghan rights group said Sunday.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran announced the addition of four new submarines to its fleet Sunday, saying the Iranian-manufactured vessels to be deployed in the Persian Gulf have sonar-evading technology and can launch torpedoes and missiles simultaneously.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald | If Obama approves an attack on Iran, war will spread through the Middle East and Asia and cause hundreds of millions of deaths, Castro warned.

Who poses the real threat to the Internet? A new opinion piece on CNN.com argues that it’s the government, not the companies providing internet access, that is the real danger to free speech and the internet. [I personally have found more often and prospectively problematic is that said government / company distinction is one without a difference when the government flexes muscle, particularly with leverage as ie., to non-performing monopolist microsoft, nsa/cia partner google (to a lesser extent at this juncture), cnn/timewarner cable (incompetence also a factor), fedex, etc.].

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news...`

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`Michelle Obama 'modern-day Marie Antoinette'...`

`NYT: 'Leaves the taxpayers with a hefty bill'...`
`While Obama preaches sacrifice, his family frolics in Spain...`

`Gazpacho, turbot, veal and ratatouille with the king...`
`Lavish Obama vacation in time of economic turmoil raises eyebrows...`
`BAKER: 'Leaves taxpayers with hefty bill'...`
`Hollywood star-studded gala at first lady's luxury hotel...`

`MICHELLE O'S $375,000 VACATION?! Strolls Marbella after State Dept. 'racist' Spaniards gaffe...`

`White House calling: Please will you make a coat for Michelle...`

`Boy Scouts boo Obama... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`60,000 babies born to 'noncitizens' get U.S. birthright - in Texas alone...`

`Dutch become 1st NATO member to quit Afghanistan...`

8-13-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On Friday August 13, 2010, ‘… The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late

When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media

By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.

April 19, 2010 'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' - Bloomberg

April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal

April 27, 2010 'Greece contagion fears unfounded' - Reuters

May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' - Bloomberg

Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash

In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), UltraShort Russell 2000 ProShares (NYSEArca: TWM - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate

On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust

Even when basing the current P/E ratio on overly optimistic estimates, it is still far away from the P/E ratios seen at historic market bottoms. The same holds true for dividend yields. A look at various valuation measures shows that the market is overvalued by much more than just 10 or 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy…’

T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International          ‘U.S. Stock Market - Week Ended August 13, 2010 - Stocks moved lower for the week. The smaller-cap indexes and the technology-oriented Nasdaq performed particularly poorly. Discouraging economic news weighed on investor sentiment and appeared to confirm that the economic recovery had slowed substantially. On Tuesday, the Federal Reserve acknowledged in a statement following its policy meeting that "the pace of recovery in output and employment has slowed in recent months" and that "the pace of economic recovery is likely to be more modest in the near term than had been anticipated." The Fed also announced that it would begin buying Treasury debt with the money it received from principal payments on its holdings of agency and mortgage-backed debt. Investors initially appeared to welcome the Fed's signal that it was ready to act to provide additional stimulus to the economy. Share prices fell sharply on Wednesday, however, as the consensus seemed to shift to one of concern that economic indicators were sufficiently worrisome to cause a change in Fed policy. Investors were also discouraged by data showing a slowdown in factory production in China as well as a rise in the U.S. deficit, which appeared likely to reduce earlier estimates of second-quarter economic growth. On Thursday, stocks took another leg down in response to a rise in weekly jobless claims as well as a disappointing earnings report and outlook from technology bellwether Cisco Systems.’

U.S. Stocks¹

Index²

Friday's Close

Week's Change

% Change
Year-to-Date

DJIA

10303.15

-350.41

-1.20%

S&P 500

1079.25

-42.39

-3.21%

NASDAQ Composite

2173.48

-114.99

-4.22%

S&P MidCap 400

734.59

-37.34

1.09%

Russell 2000

609.85

-40.61

-3.82%

Stocks Tread Water Friday, End With Declines Midnight Trader 4:03 PM, Aug 13, 2010 – ‘

·                     -DJIA down 16.80 (-0.16%) to 10,303.15

·                     -S&P 500 down 4.35 (-0.40%) to 1,079.26

·                     -Nasdaq down 16.79 (-0.77%) to 2,173.48

GLOBAL SENTIMENT

·                     Hang Seng down 0.16%

·                     Nikkei up 0.44%

·                     FTSE up 0.18%

UPSIDE MOVERS

(+) DYN sold to Blackstone for $4.50 a share.

(+) NVDA gains despite earnings miss.

(+) ADSK beats with Q2 results, guides for Q3 in a range that straddles Street.

DOWNSIDE MOVERS

(-) NCMI pricing shares.

(-) LLY loses patent decision and cuts guidance.

(-) JWN meets with EPS, as revs top; FY guidance straddles Street view.

(-) JCP results top year ago results, revenue down slightly.

MARKET DIRECTION

Stocks closed the regular session at levels just under the even mark as trade mostly moved sideways Friday in the wake of positive data on consumer sentiment and domestic retail sales. The lower trade completed the fourth straight day of declines for the major indices.

Consumer confidence as measured by a Reuters/University of Michigan poll improved to 69.6 in August from 67.8 in July, according to reports. Economists polled by MarketWatch expected a rise to 68.8.

The Commerce Department reported that sales at U.S. retailers increased 0.4% in July, the first rise in three months, but slightly shy of economist expectations. Sales fell an upwardly revised 0.3% in June. Most of the July gain came from autos and gasoline. Excluding these two sectors, retail sales were down 0.1% in July.

The index for U.S. consumer prices rose 0.3% in July, the largest gain since August of 2009, but right in line with expectations. The core rate, which excludes volatile food and energy prices, rose 0.1% in July, also in line.

Looking out to next week, earnings season winds down but there are still some heavyweights due with quarterly financials. On Monday, investors will see results from Agilent Technologies (A) and Lowe's (LOW) followed by Abercrombie & Fitch (ANF), Home Depot (HD) and Wal-Mart (WMT) on Tuesday. On Wednesday, Applied Materials (AMAT), NetApp (NTAP), Deere (DE) and Target (TGT) post numbers. Hewlett-Packard (HPQ) reports on Thursday, and AnnTaylor (ANN) is due with results on Friday.

On the economic front, the New York Fed Empire Manufacturing Index will be released on Monday followed by housing starts, building permts, PPI, and industrial production; capacity utilization on Tuesday. On Wednesday, crude inventories will be distributed. Traders will see initial claims, leading indicators and Philadelphia Fed data on Thursday.

Elsewhere in today's market, Bank of America Corp. (BAC) plans to acquire more direct stakes in companies in an effort to boost profits as it faces new rules in the U.S. over where it can invest, according to Bloomberg. The bank is going to pass on private equity firms in its investment plans. Already, the bank has sold about $3 billion of private equity fund investments this year, the report said.

Eli Lilly's (LLY) drug Strattera will likely see competition from generic drug makers after the company lose a case in U.S. federal court concerning the drug, which treats attention deficit disorder, according to a Bloomberg report. The company said it expects "near term" entry of competitors, according to the report.

Nvidia Corp. (NVDA) advanced despite missing quarterly expectations.

Rambus Inc. (RMBS) surged after signing a patent licensing agreement with Nvidia. The chip design company and its rival have been embroiled in a legal dispute for some time after Rambus accused Nvidia of infringing on some of its patents.

Commodities were mostly lower as crude futures finished down in a difficult week for its September contract. Gold futures were also lower.

Crude-oil for September delivery closed down $0.35, or 0.5% at $75.39 a barrel on the New York Mercantile Exchange.

In other energy futures, heating oil was down $0.07 to $1.99 a gallon while natural gas rose 0.09%, to $4.30 per million British thermal units.

Gold for December delivery closed down $0.10 to $1,216.60 an ounce. In other metal futures, silver rose $0.04 to $18.11 a troy ounce while copper fell $0.03 to $3.27 a pound.’

No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip recession are justified in their concerns, but they are also missing the big picture. The 2008 recession never ended. It was merely interrupted by trillions of dollars of stimulus that purchased GDP “growth” with borrowed money. But as the bills come due, GDP should now contract so we can settle up, but instead we’ll take on more debt. I expect the coming doses of quantitative easing will finally spark adverse reactions, first in the dollar and later in the bond market. When a falling dollar forces consumer prices and long-term interest rates to rise, the Fed’s actions will be rendered impotent. The Open Markets Committee will have to make a horrific choice: fight inflation by tightening policy into a weakening economy, or fight recession by allowing inflation to burn out of control. I think it’s obvious that they will choose inflation, all the while pretending that it doesn’t exist. Unfortunately, no one at the Fed has the honesty and courage to suffer the short-term shock that would accompany any meaningful exit strategy. Withdrawing liquidity and shrinking the Fed’s bloated balance sheet would no doubt bring on a severe contraction in GDP, but the moves would also enable the US economy to form a solid foundation of savings, capital investment, and industrial production upon which a real recovery could be built. By contrast, more stimulus simply magnifies the imbalances, including excessive government spending, too much consumption, inadequate production, and artificially elevated asset prices. After decades of abuse, it’s time for the Fed to take make a dramatic exit, because the US economy can’t take it anymore.’

An Argentina-like Economic Crisis Scott Strzelczyk | The United States’ economic decline precariously resembles Argentina’s economic collapse.

The Dollar’s Third and Final Act LewRockwell.com | The US credit system is in the midst of its third credit crisis since the advent of the Federal Reserve.

Monetary Cards on the Table Peter Schiff | In a commentary about a month ago, I described how the economic world seemed to be drifting into two opposing camps: the Washington-based “Stimulators,” and Berlin-and-London-based “Austerians.”

Fed’s Effort to Bolster U.S. Recovery Fails to Calm Investors The Federal Reserve’s first attempt to bolster the flagging U.S. recovery shows no sign of dispelling investor concerns the world’s largest economy may slide back into a recession.

Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful If you haven’t seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it’s going to feel like it is.

Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer A SOLID TRACK RECORD **An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. ..LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed… Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal ... When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE …High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`PAPER: 10 reasons why Obama presidency is in meltdown...`
`GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%... Obama abolishes White House position dedicated to transparency...`

`Michelle Obama popularity falls...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Capital Controls: The Final Phase in the Great Looting of America Eric Blair | Capital controls are the next big event in the government-banking-oligarchy’s great looting of America.

Historic Voter Volatility in This Year of Fear It’s becoming increasingly clear that Americans aren’t simply in the midst of hard times. They are in the midst of one of the most volatile political environments since World War II.

Pat Tillman’s Father To Army Investigator: ‘F— You… And Yours’ There always was a dark cinematic thread to the story of Pat Tillman: the football star imbued with post-9/11 patriotism who was killed in a friendly-fire incident in the Afghan mountains and the allegations of a massive bureaucratic cover-up involving the highest levels of the U.S. Army in the wake of the tragedy.

Petraeus wants more time in Afghanistan Foreign Policy | ISAF commander Gen. David Petraeus and other military officers are publicly and privately pushing to limit troop reductions starting in July 2011.

Pat Tillman’s Father To Army Investigator: ‘F– You… And Yours’ Huffington Post | The Weinstein Company sent the Huffington Post two previously unseen letters written by Tillman’s father at the peak of frustration with the army’s investigation into his son’s death.

Military Industrial Complex: Of 158 retired generals advising wars, 80% tied to defense industry; 29 are defense CEOs USA Today | Of the 158 retired generals and admirals identified as mentors, 80% had financial ties to defense contractor; 29 were company executives.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Obama Approval Rating Revisits Rock Bottom Despite Positive Media Spin Despite positive corporate media spin amidst a cacophony of criticism from both sides of the political spectrum, Barack Obama’s approval rating matched its record low today according to Rasmussen Reports.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Activists Take On Fluoridated Water in Wichita Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Illegal Immigrants Account for 8% of U.S. Newborns, Study Shows As many as 340,000 of the 4.3 million babies born in the U.S. in 2008 had at least one parent who was an illegal immigrant, according to a Pew Hispanic Center study of Census Bureau data.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Anderson Cooper Apologizes For Media Complicity In Tillman Cover-Up Interview with Pat Tillman’s father about new documentary exposing how the government with help from the media used Pat Tillman’s death to promote the war.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

Infowars.com Poll: Attack On Iran Imminent Kurt Nimmo | Nearly 60% of respondents to an Infowars.com poll believe the U.S and Israel will attack Iran in the near future.

Activists Take On Fluoridated Water in Wichita Infowars.com | Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar Yet another step in the escalation between Iran and the US came earlier today.

The Cycle of Violence in Afghanistan Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years: the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge. This should be self-evident.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday after noon in Edmonton Alberta posting more fliers, posters etc. had a great time had a few people harass me but nothing big. Just gave me motivation to do more!! Resistance is Victory. Never Forget that.!!

Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on wheat exports following widespread fires in the country sent food prices skyrocketing by 19 per cent in just a single week as fears grow that global volatility in foodstuffs and commodities could lead to a worldwide inflationary timebomb accompanied by widespread food riots.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people What the great French historian Alexis de Tocqueville would make of today’s Obama administration were he alive today is anyone’s guess.

The Coming Collapse of The U.S. Political Establishment The last U.S. puppet regime to fall will be. . . the puppet regime in the White House.

Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have been killed in Afghanistan so far this year, mostly by Taliban insurgents, a leading Afghan rights group said Sunday.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran announced the addition of four new submarines to its fleet Sunday, saying the Iranian-manufactured vessels to be deployed in the Persian Gulf have sonar-evading technology and can launch torpedoes and missiles simultaneously.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald | If Obama approves an attack on Iran, war will spread through the Middle East and Asia and cause hundreds of millions of deaths, Castro warned.

Who poses the real threat to the Internet? A new opinion piece on CNN.com argues that it’s the government, not the companies providing internet access, that is the real danger to free speech and the internet. [I personally have found more often and prospectively problematic is that said government / company distinction is one without a difference when the government flexes muscle, particularly with leverage as ie., to non-performing monopolist microsoft, nsa/cia partner google (to a lesser extent at this juncture), cnn/timewarner cable (incompetence also a factor), fedex, etc.].

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news...`

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`Michelle Obama 'modern-day Marie Antoinette'...`

`NYT: 'Leaves the taxpayers with a hefty bill'...`
`While Obama preaches sacrifice, his family frolics in Spain...`

`Gazpacho, turbot, veal and ratatouille with the king...`
`Lavish Obama vacation in time of economic turmoil raises eyebrows...`
`BAKER: 'Leaves taxpayers with hefty bill'...`
`Hollywood star-studded gala at first lady's luxury hotel...`

`MICHELLE O'S $375,000 VACATION?! Strolls Marbella after State Dept. 'racist' Spaniards gaffe...`

`White House calling: Please will you make a coat for Michelle...`

`Boy Scouts boo Obama... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`60,000 babies born to 'noncitizens' get U.S. birthright - in Texas alone...`

`Dutch become 1st NATO member to quit Afghanistan...`

8-12-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

AP Business Highlights ‘Jobs picture dims as unemployment claims rise WASHINGTON (AP) -- The economy is looking bleaker as new applications for jobless benefits rose last week to the highest level in almost six months. It's a sign that hiring remains weak and employers may be going back to cutting their staffs. Analysts say the increase suggests companies won't be adding enough workers in August to lower the 9.5 percent unemployment rate. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. That's the highest total since February. Analysts had expected claims to fall…’

Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!] AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest AAII Sentiment Survey. Despite the size of the increase, the proportion of individual investors expecting stock prices to rise over the next six months is only at a two-week high. The historical average is 39%. Neutral sentiment, expectations that stock prices will stay essentially flat over the next six months, fell 1.3 percentage points to 30.1%. The historical average is 31%. Bearish sentiment, expectations that stock prices will fall, dropped 8.1 percentage points to 30.1%. This is a 14-week low. The historical average is 30%. The survey period, Thursday through Wednesday, needs to be taken into consideration when looking at these results. Stock prices were essentially flat through most of this week's survey period (with the obvious exception of yesterday), giving some investors hope that a short-term bottom had been established. Though there were big changes in bullish and bearish sentiment, both optimism and pessimism are close to their historical averages. As a result, I would argue that individual investors' confidence in the market remains fragile. This week's special question asked AAII Members which industries and sectors they like right now. Technology, commodities/basic materials, and energy were the three most popular. Several respondents also listed REITs and master limited partnerships (e.g., pipeline companies), a sign that they are looking for dividend-paying investments. A notable number also listed bonds and foreign stocks as preferred categories. Three months ago, when we asked the same question, commodities/basic materials, energy, gold/precious metals, and health care were the top choices.

This week's AAII Sentiment Survey Results:

Bullish: 39.8%, up 9.4 percentage points

Neutral: 30.1%, down 1.3 percentage points

Bearish: 30.1%, down 8.1 percentage points

Long-term averages:

Bullish: 39%

Neutral: 31%

Bearish: 30%

The survey and its results are available online here.

Disclosure: None’

Down in the Dumps Street: Dave's Daily ‘Is Wall Street now Dump Street? It could happen. Just remember, with volume still light overall (even though heavier on selling) the bulls still linger in the weeds ready to squeeze summer bears. There remains little in the way of good news to comment. Perhaps we're getting a little short-term oversold (check the NYMO at the end of this commentary) making any spark of good news unleash the animal spirits once again. Retail Sales? Consumer Sentiment? Friday the 13^th! A Chucky the Consumer you can't kill sequel? How appropriate! Jobless Claims continued to disappoint missing consensus estimates by nearly 20K for the second straight week and Continuing Claims still are crawling along the ocean floor along with BP's mess. Cisco's revenue miss was a disappointment and added fuel to an early selloff. In this environment, everything must be perfect. Volume was running about the same as over the past few sell-off days but still higher than on previous positive days. Breadth continues to be negative.’

Options Action: Bearish Bet on the Market ‘During tumultuous times you want to protect your portfolio but how should you do it? Brian Stutland has a strategy using the S&P ETF** He suggests selling a call against a long position.

[$$] Prepping for a Data-Filled Friday ‘There were several folks out this morning yelling to buy the dip (Jim Cramer was one of them), and traders who followed that advice did pretty well. Rather than buying the dip, I used the initial drop to escape some positions I thought were going to expire worthless, then I used the bounce to lighten up more. Bears were able to get the SPDR back under the $108.75 to $108.88 area, which I see as key right now. Another Friday and I'm curious to see any impact from the weekly options. Will the big names be stuck right around the strikes where they stand now? Unfortunately, the bigger tech names are closer to their downward strikes than their higher strikes, so that could pressure the market. One name that doesn't seem to care is Baidu. It is right in between the $80 and $85 strike right now, so...’

Equities Update: Stocks Drop for Third Straight Session Midnight Trader 4:22 PM, Aug 12, 2010 – ‘

DJIA down 58.8 (-0.6%) to 10,320

S&P 500 down 5.86 (-0.5%) to 1,084

Nasdaq down 18.4 (-0.8%) to 2,190

GLOBAL SENTIMENT

Hang Seng down 0.89%

Nikkei down 0.86%

FTSE up 0.4%

UPSIDE MOVERS

(+) EXP upgraded.

(+) NVAX announces positive respiratory virus vaccine study.

(+) RDEN costs cuts, higher revenue generate Q4 profit

(+) BKS Barnes & Noble nears deal with Ron Burkle on board seats

DOWNSIDE MOVERS

(-) CSCO beats with earnings but revenue guidance disappoints.

(-) BRCM downgraded.

(-) TXN downgraded.

(-) XLNX downgraded.

(-) BCS reports say job cuts may be announced.

(-) ALTR downgraded.

(-) MSFT downgraded.

(-) ARO downgrade.

(-) KSS declines after latest results.

(-) KBH says treasurer resigns.

(-) CRYP loss widens, misses Street view.

(-) HEAT beats earnings estimates.

MARKET DIRECTION

Stock averages finish lower though pared the day's losses late to close in the upper end of the session's range. It's the third straight decline for the major averages and comes as Cisco's (CSCO) outlook weighed on tech shares and an unexpected rise in jobless claims added to the mounting signs of a weakening recovery.

Tech stocks were leading decliners and Cisco remained down 9% late in the day, after disappointing revenue guidance. Sara Lee (SLE) also missed with revenue and Kohl's (KSS) cut its earnings outlook.

Stocks also fell after the Labor Department reported that the number of people filing for unemployment benefits rose last week to 484,000. The gain was small at 2,000, but economists had expected the number to drop. The report was yet one more sign that the recovery is slowing.

Crude oil futures ended at a one-month low as concern about the economic recovery remained, clouding hope that demand for oil would pick up. Oil for September delivery lost $2.28, or 2.9%, to settle at $75.74 a barrel, the lowest price since closing at $74.95 a barrel on July 12.

In company news:

Actively traded Cisco (CSCO) fell after the tech bellwether late Wednesday reported Q4 sales of $10.8 bln, in line with Street estimates of $10.8 bln. Non-GAAP EPS was $0.43 per share, a penny better than the Street view. In its conference call, CSCO said it expects Q1 revenue to be up 18% to 20% year-over-year, less than Wall Street was hoping for. Gross margin is seen at about 64%. Cash flow from operations are estimated at $1.2 to $1.5 billion for Q1.

In its conference call, CSCO said it expects Q1 revenue to be up 18% to 20% year-over-year, less than Wall Street was hoping for. Gross margin is seen at about 64%. Cash flow from operations are estimated at $1.2 to $1.5 billion for Q1.

Juniper Networks (JNPR) slumped as Cisco warned that customers were becoming more cautious in the weak economy. In a note to clients, Wedbush Morgan analyst Rohit Chopra stated that Cisco's concerns "could potentially have negative implications for Juniper." The stock was also downgraded this morning.

Kohl's (KSS) reports Q2 EPS of $0.84 compared to $0.75 a year earlier and beating the Thomson Reuters mean analyst estimate for $0.82 by two cents. Net sales were $4.1 billion, an increase of 7.7% for the quarter. Comparable store sales for the quarter increased 4.6%.

For Q3, the company expects total sales to increase between 4.5% and 6.5%; comparable store sales to increase 2% to 4%; and gross margin as a percent of sales to increase 20 to 40 basis points over last year. EPS are put at $0.57 to $0.63. The Street expects $0.74.

For Q4, the company expects total sales to increase between 4.5% and 6.5%; comparable store sales to increase 2% to 4%; and gross margin as a percent of sales to increase 20 to 40 basis points over last year. EPS are put at $1.51 to $1.59. The Street expects $1.56. The company's updated guidance for fiscal 2010 is $3.57 to $3.70 per diluted share. Analysts on average look for $3.75.

Sara Lee Corp (SLE) fell after its 2011 earnings projection disapointed investors, even though it returned to the black in the fourth quarter. The food manufacturer anticipates earnings for the current fiscal year to fall between 93 cents and $1.02 a share on revenue of $11.2 billion to $11.5 billion. Analysts polled by Thomson Reuters expected earnings of 94 cents on revenue of $11.0 billion.

Barnes & Noble (BKS) is near an agreement with billionaire Ron Burkle in which the bookstore chain will give him three board seats in exchange for dropping his lawsuit over limits on his stake in the company, according to Bloomberg, citing two people with knowledge of the matter. Burkle, along with his investment entity, will likely support a sale of the bookstore chain, the report said, citing the sources.

CVS Caremark (CVS) is cutting prices for some of its Medicare services in a bid to regain business it has lost to rival firms, Bloomberg reported. CVS bids every year on the right to provide drugs to Americans covered by Medicare Part D. The results for the 2011 contracts are due later this month, the report said.

Pharmasset (VRUS) said its experimental drug for treatment of chronic hepatitis C infection was given the "fast track" designation from the Food and Drug Administration, according to Reuters report. In May, the drug showed short-term antiviral activity, according to the report. Fast track Status is the category given to a drug that treats unmet medical needs.

Novavax (NVAX) said results from a pre-clinical toxicology study of its vaccine candidate to prevent respiratory syncytial virus (RSV) showed the vaccine to be safe and well-tolerated at all doses tested.’

Jobless claims jump to 5-month high The number of first-time filers for unemployment insurance rose to the highest level since late February last week, according to a weekly government report released Thursday.

Goldman Goes Goo-Goo For Gold: “Gold Market Poised For A Rally As US Real Rates Head Lower” Goldman dedicates 9 pages to a regime change in which it goes openly bullish on gold.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Bernanke announced additional quantitative easing yesterday, primarily in the form of buying treasuries to monetize the U.S. debt.

Deficit in July Totals $165.04 Billion The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water Washington’s Blog | The government hasn’t even tried to replace the leaking sections of pipe in our economy.

Is this finally the economic collapse? Fortune | Should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

Lavish lifestyle for bank executive in Waters case (Washington Post) While this is typical of California, isn’t it as typical of the wall street frauds? Scammin’ everybody with that too big to fail b* s* when they’re a net economic drain, high frequency churn-and-earn computer programmed trading scams among the more blatant frauds emanating from their insatiable greed and sense of entitlement. Previous post: Cities, counties could slash 500,000 more jobs (Washington Post) Could? I’d say must. Particularly when you factor in that this election ‘spurt’ leaving the nation even more bankrupt is illusory. I had occasion some time ago in speaking with a long-time California resident (instructor at the college gym where I worked out) to express my surprise at the bloated (municipal, state) high-priced bureaucracy which of course is not productive except as to higher taxes and which is at the forefront in the city of Bell where the city manager was paid nearly 900,000 annually (with benefits the package was an incredible $1,500,000), and specifically mentioned the part-time typical compensation of $100,000 and contracts to interested, even familial, parties. Of course, no one has done this better than feinstein, albeit on a more federal level and China contracts through her husband’s companies, as previousl set forth on this website. Drudgereport: `'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

Bailouts benefited foreign firms (Washington Post) True enough! But, truth be told, the fraud giving rise to the financial debacle was home grown americana. Moreover, the remnants of same are still out there in the trillions, now ‘marked to anything they so choose’, courtesy of a complicit, albeit after the fact, congress. This is the point … rather than as should have been the case of making the perps pay, the bailouts / cover-ups by now enablers if not accomplices is ending quite badly with much worse to come, and that includes those european lightweights who have come into the fraudulent wall street fold to theirs and the world’s economic and financial detriment.

U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I don’t think so! And, I have my site, other references / links and posts to prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for anyway. However, I also must candidly admit I don’t frequent the mainstream blather / propaganda that includes the ‘money-honeys’ (when the messenger’s more important than the message, problems and distortions are bound to follow) and their ilk, etc.. NBR’s about it and even they have their pressures (I don’t consider the Washington Post mainstream in the pejorative sense of the word, with a rich journalistic history to back that up, all things considered) ]. Unexpectedly bad news from three continents reinforces fears that global recovery is faltering.

Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here that even using capital hill math one would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! I think the former Soviet Union would have done the same.]

Fed action signals new activism (Washington Post) [ Riiiiight! The activist fed! That’s all we need. As if we needed more of what brought us to this point! Certainly the fed’s role in the continuing and current financial crisis / debacle cannot be ignored or disputed. Nothing like a hegelian methodology to create the very problems for which they are called upon to offer solutions, increasing their sense of importance, and concentrating power thereby. (Think about it. It is really rather quite absurd that each meeting time the financial markets hold their bated breath for these incompetent boobs). Then there’s the cover-up with an opportunity for enrichment of some, usually the tight-lipped yes-men then ever after and forever bonded in what becomes tantamount to an almost fraternal link by ‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were necessarily badly intended, but the manipulations thereafter to obfuscate their incompetence (senile greenspun, no-recession-helicopter-ben, etc.) comes at a great price and is nothing less than tantamount to or just outright crime. I’d abolish the fed without hesitation or compunction. After all, at this point of decline and defacto bankruptcy of the nation you certainly can’t point to success nor argue their indispensability. Then there’s also the missing trillions, over-printing of fiat currency, and all that sub rosa activity with the worthless fraudulent toxic paper which I believe is being supplanted with ultimately hard currency to the great benefit of the frauds and great detriment to the nation.]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer A SOLID TRACK RECORD An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. ..LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed… Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal ... When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE …High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Obama Approval Rating Revisits Rock Bottom Despite Positive Media Spin Despite positive corporate media spin amidst a cacophony of criticism from both sides of the political spectrum, Barack Obama’s approval rating matched its record low today according to Rasmussen Reports.

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew A Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but is only now being officially recognised.

Activists Take On Fluoridated Water in Wichita Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Illegal Immigrants Account for 8% of U.S. Newborns, Study Shows As many as 340,000 of the 4.3 million babies born in the U.S. in 2008 had at least one parent who was an illegal immigrant, according to a Pew Hispanic Center study of Census Bureau data.

Fed Leads America “To The Brink Of Collapse” When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.

Anderson Cooper Apologizes For Media Complicity In Tillman Cover-Up Interview with Pat Tillman’s father about new documentary exposing how the government with help from the media used Pat Tillman’s death to promote the war.

Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire, Booby Traps, Military Weapons and Dobermans Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress.

Infowars.com Poll: Attack On Iran Imminent Kurt Nimmo | Nearly 60% of respondents to an Infowars.com poll believe the U.S and Israel will attack Iran in the near future.

Activists Take On Fluoridated Water in Wichita Infowars.com | Concerned citizens in Wichita, Kansas, have informed that city’s public officials about a poster campaign designed to inform the public about the health hazards of water fluorination.

Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson | Bernanke announcement that central bank will buy US debt marks point of no return.

15 Economic Statistics That Just Keep Getting Worse The Economic Collapse | Anyone who claims that things are getting “better” is either ignorant, completely deluded or is purposely lying.

Economy Teeters On The Brink and Market Manipulation Continues Bob Chapman | It’s just the same old, same old, business as usual in America.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar Yet another step in the escalation between Iran and the US came earlier today.

The Cycle of Violence in Afghanistan Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years: the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge. This should be self-evident.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday after noon in Edmonton Alberta posting more fliers, posters etc. had a great time had a few people harass me but nothing big. Just gave me motivation to do more!! Resistance is Victory. Never Forget that.!!

Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on wheat exports following widespread fires in the country sent food prices skyrocketing by 19 per cent in just a single week as fears grow that global volatility in foodstuffs and commodities could lead to a worldwide inflationary timebomb accompanied by widespread food riots.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people What the great French historian Alexis de Tocqueville would make of today’s Obama administration were he alive today is anyone’s guess.

The Coming Collapse of The U.S. Political Establishment The last U.S. puppet regime to fall will be. . . the puppet regime in the White House.

Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have been killed in Afghanistan so far this year, mostly by Taliban insurgents, a leading Afghan rights group said Sunday.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran announced the addition of four new submarines to its fleet Sunday, saying the Iranian-manufactured vessels to be deployed in the Persian Gulf have sonar-evading technology and can launch torpedoes and missiles simultaneously.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald | If Obama approves an attack on Iran, war will spread through the Middle East and Asia and cause hundreds of millions of deaths, Castro warned.

Who poses the real threat to the Internet? A new opinion piece on CNN.com argues that it’s the government, not the companies providing internet access, that is the real danger to free speech and the internet. [I personally have found more often and prospectively problematic is that said government / company distinction is one without a difference when the government flexes muscle, particularly with leverage as ie., to non-performing monopolist microsoft, nsa/cia partner google (to a lesser extent at this juncture), cnn/timewarner cable (incompetence also a factor), fedex, etc.].

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

YOUTH UNEMPLOYMENT HITS RECORD HIGH
`JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB... California can't pay bills -- may use IOUs for August payments...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`
`Homes lost to foreclosure up 6% from last year...`
`Grim Voter Mood Turns Grimmer... Claims of Afghan civilian deaths spark protest...`
`Military sees heavier fighting in fall...`

`UPDATE: Suspected serial killer arrested in Atlanta...`
`Attempting to flee to israel … to be with kindred spirits ...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news...`

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`Michelle Obama 'modern-day Marie Antoinette'...`

`NYT: 'Leaves the taxpayers with a hefty bill'...`
`While Obama preaches sacrifice, his family frolics in Spain...`

`Gazpacho, turbot, veal and ratatouille with the king...`
`Lavish Obama vacation in time of economic turmoil raises eyebrows...`
`BAKER: 'Leaves taxpayers with hefty bill'...`
`Hollywood star-studded gala at first lady's luxury hotel...`

`MICHELLE O'S $375,000 VACATION?! Strolls Marbella after State Dept. 'racist' Spaniards gaffe...`

`White House calling: Please will you make a coat for Michelle...`

`Boy Scouts boo Obama... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`60,000 babies born to 'noncitizens' get U.S. birthright - in Texas alone...`

`Dutch become 1st NATO member to quit Afghanistan...`

8-11-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE Simon Maierhofer, On Wednesday August 11, 2010, 4:40 pm EDT Smart investors look at the risk/reward ratio before investing and periodically re-evaluate. Who wants to hitch his wagon to a losing horse? Would you buy a stock that has a 70% probability of losing money? Would you hold a stock that has a 70% probability of losing money? The answer is so obvious that you might assume it's only a rhetorical question. It's not. In fact, anyone invested in stocks (NYSEArca: VTI - News) right now is running a 70%+ risk of losing money over the coming weeks and months. That's a bold statement, so allow me to back up and explain why. A TECHNICALLY SICK MARKET On July 2, 2010, the 50-day simple moving average (SMA) for the S&P (SNP: ^GSPC) crossed below the 200-day SMA for the first time since December 12, 2007. The Dow Jones Industrial Average (DJI: ^DJI) followed on July 6, theNasdaq (Nasdaq: ^IXIC) on July 14, and the broadest measure of the U.S.stock market, formerly known as Wilshire 5000, on July 8. The 200-day SMA is perceived to be the dividing line between a stock or index that is technically healthy and one that is not. When the price drops below the 200-day SMA, a red flag is raised. When the 50-day SMA drops below the 200-day SMA, a clear break of a trend is signaled. Throughout the recent rally, the S&P's 50-day SMA remained below the 200-day SMA. Even though the S&P has spent most of the past three months trading below its 200-day SMA, the index has flirted with and stayed above the 200-day SMA since late July. Today is fell cleanly below the 200-day SMA. A brief pop above the 200-day SMA does not invalidate the larger down trend. On July 26, the ETF Profit Strategy Newsletter noted that 'it is not uncommon for counter trend rallies of larger degree to persuade even technical indicators to move into bullish territory. This would most likely stir up the kind of bullish sentiment often seen at secondary tops.' A SOLID TRACK RECORD An analysis of the SMA crossover buy/sell signals triggered for the S&P over the past 10 days shows that six of the eight signals (75%) were correct. The average winning trade returned 19.72%, the average losing trade returned 6.95% (see table below). A 75% probability of success with a risk reward ratio of nearly 2.8:1 is about as good as it gets in the investing world. [chart] If we expand the track record to include the 10/40-week SMA crossover, which was triggered as well for all the above-mentioned indexes, we get a 70% probability of success along with a risk reward ratio of 3.7:1. If we expand the time horizon from a 10/40-week SMA to a 10/40-month SMA, we get a track record of 100% with an average return per trade of 17.68% (detailed analysis available in the August ETF Profit Strategy Newsletter). Interestingly, the longer-term 10/40-month SMA did not trigger a buy signal in 2009, unlike the 10/40-week SMA and the 50/200-day SMA. LAGGING BUT ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators. Although an indicator may be lagging it doesn't mean it's incorrect or should be dismissed. To illustrate, imagine a beautiful sunny day, with no clouds in the sky. Even though it seems impossible at the time, the weather man sees a storm coming your way. A few hours later, clouds are moving in and the breeze is picking up. Just shortly thereafter, the first raindrops are hitting the ground. Would you go out and fire up the BBQ after the first raindrops fell? No, the raindrops only confirm the weatherman's prediction. In fact, you might liken the raindrops to the SMA crossover. Even though a lagging indicator, the rain does confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect Wall Street and the financial media to be the financial weather man and warn you of upcoming storms. Unfortunately, that is not so. Leading up to the April 2010 recovery highs, Wall Street and the media proclaimed the skies are clear, 'sunny throughout the year' was their weather forecast. Only after investors got drenched, did Wall Street recommend pulling out the umbrella. Sure enough, as soon as the umbrellas came out, stocks switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF Profit Strategy Newsletter warned of the brewing storm while it was still sunny. On April 16, the newsletter warned that 'historically, there has rarely been a more pronounced sell signal. The combination of sentiment extremes clearly point towards a correction. The upside potential is much more limited compared to the massive downside risk.' Shortly thereafter, the S&P dropped over 17% from its April 26 high at 1,219 to its July 1 low at 1,011. On July 5, with the S&P 500 futures at 1,003, the ETF Profit Strategy Newsletter noted that 'the S&P is butting against the 100-week SMA, lower accelerations band, 38.2% Fibonacci retracement levels, round number resistance at 1,000, and weekly s1 at 994, there is a good chance we will see some sort of a bounce develop from the 990 - 1,015 area.' This bounce has certainly developed. In fact, the market rallied over 8%. Has this rally changed the outlook? No. Not only do the major indexes bear the mark of the death cross, the following sectors do also: Financial sector (NYSEArca: XLF - News), technology sector (NYSEArca: XLK - News), consumer staples sector (NYSEArca:XLP - News), energy sector (NYSEArca: XLE - News), materials sector (NYSEArca: XLB - News), utilities sector (NYSEArca: XLU - News), industrials (NYSEArca: XLI - News) and healthcare sector (NYSEArca: XLV -News) all share the same fate. The consumer discretionary sector (NYSEArca: XLY - News) is the only sector to escape the grip of the death cross thus far. It is somewhat surprising and unusual to see the economically sensitive consumer discretionary sector buck against a recessionary trend. A look at Visa and Master Card provides a peak for what lies ahead, even for the discretionary sector. When consumers spend, they do so with credit cards. Visa and Master Card both got hit with a death cross. It's just a matter of time until the discretionary sector follows. WAIT, THERE IS MORE Dr. Copper is the only metal with a PhD. This sounds corny, but as an industrial metal that's used in everything from houses to tech gadgets, copper has an uncanny ability to foretell the future for stocks. High copper prices are reflective of high demand and a humming economy. Lower copper prices signal trouble ahead. On June 22, an ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR FAVOR Investing is a game of probabilities. While you always want to have the odds in your favor, you never want to bet against the odds. Right now, the odds are piling up on the bearish side of the ledger. Even though Wall Street is saying that the sky has cleared up, 'meteorologists' with a better track record are warning of the storm ahead. In fact, there is one rare chart formation that strongly suggests the onset of a 2008-like decline, a development that's certainly supported by the number of death crosses spanning a variety of markets. The August issue of the ETF Profit Strategy Newsletter includes a detailed short, mid and long-term forecast, along with the one chart that tells the market's story and true bearish potential.

Beatdown Wednesday: Why It Was Neither a Big Deal Nor a Surprise ‘The market took a nose dive today and volume was elevated. Additionally, decliners creamed advancers by 10 to 1. While the bears dominated the market, today's action was neither a big deal, nor a surprise.My readers knew two things going into the week. First, strong resistance was at 1130 and strong support was at 1085. Until SPX traded outside either price, the market was to be trapped. This has been the stance since July 20th, and I favored an upside breakout. Last month 1130 was our big number to watch on the upside. If it broke on high volume we were going to get aggressively long. After SPX found support at 1085 in July, that became our price to watch for support. If support breaks the chance, a major decline becomes highly likely. Until 1085 breaks down, I continue to be bias towards an upside break. Second, the dollar was up against strong support and highly oversold. I expected that a strong bounce was close. A rising dollar is bearish for the market, especially commodities, and it would take the SPX back down to the 1085 support zone.Cisco (CSCO) reported tonight and is selling hard in the after hours. Also, the euro put in a topping pattern yesterday and should see more selling ... WATCH LIST Our watch list was lower today, similar to the market.We updated our bearish watch list now that a market collapse is definitively back on the table. Leading the way lower was our top shorts in solar and Capella (CPLA) in the for profit education industry. DISCLOSURE: None’

Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not Bankrupting the Country Fast Enough’ With a tone of sarcasm, a California Republican congressman said that he “knows” why members of the U.S. House of Representatives were summoned from their home districts back to Washington, D.C., and the halls of Congress.

U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

Crowd waiting for housing vouchers gets rowdy Atlanta Journal-Constitution | A crowd of people hoping to get federal housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

Californians’ income falls for first time since WWII Sacramento Bee | The personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid Bill Some Democrats are upset and advocacy groups are outraged over the raiding of the food-stamp cupboard to fund a state-aid bailout that some call a gift to teachers and government union workers.

15 Economic Statistics That Just Keep Getting Worse A little over a week ago, U.S. Treasury Secretary Timothy Geithner penned an article for the New York Times entitled “Welcome To The Recovery” in which he touted the great strides that the U.S. economy was making.

America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.

`DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Obama Approval Rating Revisits Rock Bottom Despite Positive Media SpinDespite positive corporate media spin amidst a cacophony of criticism from both sides of the political spectrum, Barack Obama’s approval rating matched its record low today according to Rasmussen Reports.

Anti-Terror Ads Banned For Encouraging Stasi Activity Government anti-terror advertisements encouraging members of the British public to report on their neighbours’ and work colleagues’ “suspicious” activities have been banned by the Advertising Standards Authority after several complaints.

Iran’s Mass Graves: Hayden Spins “Adult” Propaganda Kurt Nimmo | Considering the CIA’s successful efforts to destabilize Iran, Hayden’s comments are grotesquely ironic.

Wave Goodbye To Brand Obama Paul Joseph Watson | Gibbs’ vitriolic attack on “crazy” leftists marks crucial benchmark in collapse of Barry Soetoro, the corporate marketing creation

U.S. Marshals Service Storing Naked Body Scanner Images Kurt Nimmo | Now the cops will get to look at your genitals.

Alex Jones: Big brother is watching you Russia Today | Verizon and Google have announced that they hope to regulate the internet by controlling access and the speed of the internet to different websites.

Lawsuit over Geronimo’s Remains dismissed because Government is Legally God Andrew Steele | Because Geronimo isn’t a fossilized arrowhead or a muddy moccasin pulled out of a river, his descendents are considered to have no legal standing.

Michael Moore suggests White House spokesman smoking ‘really heavy stuff’ “When Mr. Gibbs is worried about what people on the left are smoking, from my experience the person in the room who’s most paranoid about who’s smoking what is usually the person smoking the really heavy stuff,” noted Moore.

Every Bill Should State Its Constitutional Authority, Republican Congressman Says A Republican congressman says all bills introduced in Congress should include a statement setting forth the specific constitutional authority under which a law is being enacted.

David Icke: Elite Moves To Lobotomize, Zombify Global Population into Lifetime of Servitude Alex welcomes back to the show former well-known BBC television sports presenter, spokesman for the Green Party, author, and public speaker David Icke. Icke’s latest book is called Human Race: Get Off Your Knees.

Wave Goodbye To Brand Obama Administration spokesman Robert Gibbs’ angry retort that left-wing critics of President Obama ought to be “drug tested” because they are “crazy” marks a crucial benchmark in the accelerating evisceration of Obama’s public support, even amongst liberals who, having exalted Obama as some kind of savior, are now realizing that he is merely a servant to the banking elite.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar Yet another step in the escalation between Iran and the US came earlier today.

The Cycle of Violence in Afghanistan Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years: the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge. This should be self-evident.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday after noon in Edmonton Alberta posting more fliers, posters etc. had a great time had a few people harass me but nothing big. Just gave me motivation to do more!! Resistance is Victory. Never Forget that.!!

Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on wheat exports following widespread fires in the country sent food prices skyrocketing by 19 per cent in just a single week as fears grow that global volatility in foodstuffs and commodities could lead to a worldwide inflationary timebomb accompanied by widespread food riots.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people What the great French historian Alexis de Tocqueville would make of today’s Obama administration were he alive today is anyone’s guess.

The Coming Collapse of The U.S. Political Establishment The last U.S. puppet regime to fall will be. . . the puppet regime in the White House.

Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have been killed in Afghanistan so far this year, mostly by Taliban insurgents, a leading Afghan rights group said Sunday.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran announced the addition of four new submarines to its fleet Sunday, saying the Iranian-manufactured vessels to be deployed in the Persian Gulf have sonar-evading technology and can launch torpedoes and missiles simultaneously.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald | If Obama approves an attack on Iran, war will spread through the Middle East and Asia and cause hundreds of millions of deaths, Castro warned.

Who poses the real threat to the Internet? A new opinion piece on CNN.com argues that it’s the government, not the companies providing internet access, that is the real danger to free speech and the internet. [I personally have found more often and prospectively problematic is that said government / company distinction is one without a difference when the government flexes muscle, particularly with leverage as ie., to non-performing monopolist microsoft, nsa/cia partner google (to a lesser extent at this juncture), cnn/timewarner cable (incompetence also a factor), fedex, etc.].

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... America Is 'Bankrupt Mickey Mouse Economy'...`
`WIRE: USA 'Bankrupt and We Don't Even Know It'...`

`DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!`

MOB RUSH FOR FED AID DRAWS RIOT POLICE
`DOW drops 265...`
`Feds rethink policies that encourage home ownership...`
`Obama: $3 Billion More in Aid for Unemployed...`
`US posts widest trade gap in 20 months...`
`Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...`
`PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news...`

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`Michelle Obama 'modern-day Marie Antoinette'...`

`NYT: 'Leaves the taxpayers with a hefty bill'...`
`While Obama preaches sacrifice, his family frolics in Spain...`

`Gazpacho, turbot, veal and ratatouille with the king...`
`Lavish Obama vacation in time of economic turmoil raises eyebrows...`
`BAKER: 'Leaves taxpayers with hefty bill'...`
`Hollywood star-studded gala at first lady's luxury hotel...`

`MICHELLE O'S $375,000 VACATION?! Strolls Marbella after State Dept. 'racist' Spaniards gaffe...`

`White House calling: Please will you make a coat for Michelle...`

`Boy Scouts boo Obama... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`60,000 babies born to 'noncitizens' get U.S. birthright - in Texas alone...`

`Dutch become 1st NATO member to quit Afghanistan...`

8-10-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Equities Update: Stocks End Lower, Helped Modestly By Fed's Latest Pledge Midnight Trader 4:22 PM, Aug 10, 2010 --

·                     NYSE down 48 (-0.7%) to 7,139.75

·                     DJIA down 54 (-0.5%) to 10,644

·                     S&P 500 down 6.73 (-0.6%) to 1,121

·                     Nasdaq down 28.5 (-1.2%) to 2,277

GLOBAL SENTIMENT

·                     Hang Seng down 1.50%

·                     Nikkei down 0.22%

·                     FTSE down 0.63%

UPSIDE MOVERS

(+) MBI gains on improved quarter.

(+) PPCO sold to Endo for $144 Mln.

(+) QNST lifts sales outlook.

(+) AAU gains on drilling results.

(+) AKAM gets upgraded.

(+) RIMM strikes deal with Saudis.

DOWNSIDE MOVERS

(-) ABK reports another loss, exploring prepackaged bankruptcy.

(-) NUAN issues mixed Q3 report.

(-) NGLS selling notes.

(-) QGEN misses with sales.

(-) HQS down after latest results.

(-) FEED swings to a loss.

(-) JASO beats with revenue.

MARKET DIRECTION

Stock indexes end down 0.5% to 1.2%, off earlier lows in the wake of the Federal Reserve's latest statement pledging more help for the economy. Stocks began the day lower, when disappointing productivity data before the bell combined with a downturn in Chinese import demand.

The Fed maintained lending rates at historic lows and said it would reinvest proceeds from maturing mortgage-backed securities into Treasury bonds. Wall Street analysts said the action reassured investors that the bank is willing to keep liquidity flowing as the recovery has shown its vulnerability in recent months.

The Fed now believes economic growth will be "more modest" than it had anticipated at its late June meeting. The Fed, citing "subdued" inflation, said it would keep its target for a key interest rate at zero to 0.25 percent for a "extended period," the AP reported.

A pre-market report showed a decline in workforce productivity in Q2 after an upwardly revised Q1. The report showed U.S. non-farm productivity fell 0.9% compared to the 0.4% expected. The first quarter was revised up to 3.6% from 2.8%, the report said.

In company news:

Bank of America (BAC) could get $13 billion from it stake in China Construction Bank Corp., which had an original cost of $9.2 billion according to a Bloomberg News report. BofA couldn't sell the shares because they were locked up, the report said. Now that lockup is expiring and accounting rules say the bank will need to value the stake at a market value of $22.1 billion, the report said.

In the pharma space, a new study of patients who receive Vertex Pharmaceuticals (VRTX) hepatitis C drug revealed the vast majority of previously untreated patients who respond early to telaprevir are cured in half the time of current therapy, according to a Reuters report.

Wendy's/Arby's Group (WEN) said it will open 180 restaurants in Russia over the next 10 years, according to a Reuters report. The move is the latest from a U.S. fast-food chain to look to Russia for new growth, the report said.

Oracle Corp. (ORCL) Chief Executive Officer Larry Ellison came down hard on Hewlett-Packard (HPQ) for ousting HP CEO Mark Hurd. The move came following an investigation of a sexual harassment claim that revealed Hurd had not violated HP's sexual harassment policy, Reuters reported. But the CEO was said to have been fired for falsifying expense reports to hide his relationship with an HP contractor.

Research in Motion Ltd (RIMM) is up after Saudi Arabia said it will allow the the BlackBerry maker to continue operating in the country. Research in Motion has, however, been asked to put a system in place that will allow the government to monitor use.

Wal-Mart Stores Inc. (WMT) was lower after J.P. Morgan Securities released a study showing the famed discounter has been raising prices. Based on a study of stores in Virginia, J.P. Morgan said Wal-Mart raised prices at its Supercenter by 5.8%, the biggest increase since it started tacking prices in January 2009.

Intel Corp. (INTC) was falling in step with other chipmakers, including rival Advanced Micro Devices Inc (AMD), after a JP Morgan analyst expressed concern about a slowdown in the personal computer market. Analyst Christopher Danely stated that PC orders are "falling off a cliff."

International Business Machines (IBM) said it had purchased Datacap Inc., a privately held software company. Datacap's software helps companies capture, manage and automate the flow of business information. Financial terms were undisclosed.

CVB Financial (CVBF) is down sharply after the company says it got a subpoena from the SEC, MarketWatch reports. The July 26 subpoena from the Los Angeles office of the SEC requests information about CVBF's loan underwriting guidelines, its allowance for credit losses and the way the bank calculates its allowance for loan losses, according to a quarterly regulatory filing on Monday.

Google's (GOOG) South Korean office was raided by police as part of an investigation into possible breaches of privacy laws due to the company's data collected for its street view mapping service.

Evergreen Energy (EEE) says it approved a reverse split of its common shares at a ratio of 1-for-12 to be effective August 20. Shares of several companies were moving after earnings announcements.

Delta Petroleum (DPTR) shares were lower after the company said late Monday it lost $0.54 per share in Q2, smaller than the loss a year ago but wider than the Thomson Reuters mean for a $0.09 loss. Sales were $36 million, more than forecasts for $34.2 million.

InterContinental Hotels Group (IHG) was falling in pre-market trade even though the British group reported returning to the black in the first half of the fiscal year. InterContinental reported pretax pforit at $141 million, compared to a net loss of $29 million a year ago.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Stocks Fall Despite Help From Bernanke: Here's What You Need To Know Despite the beginning of quantitative easing 2.0, stocks still fell markedly.
But first, the scoreboard:
Dow: -57
NASDAQ: -29
S&P 500: -6.6
And now, the top stories:

·        The tone was set overnight when China announced that its imports had grown far less than had been expected. The Shanghai Composite plunged by more than 3%, a move that brought the rest of the world down with it. European markets and US futures both headed lower. The yen and the dollar both perked up.

·        The early hours were very quiet, with almost all of the talk centered around the release of FOMC minutes at 2:15. Stocks remained solidly in the red throughout the day. The one econ number of the morning was productivity, which unexpectedly dived, possibly portending bad news for stocks.

·        Finally, at 2:15 the Fed made its move. Quantitative easing will begin modestly, via a decision not to let the Fed balance sheet naturally shrink. The Fed balance sheet will be fixed at just over $2 trillion.

·        Stocks initially rallied hard on the news. The dollar plunged. Treasuries soared. Gold jumped. The Yen spiked. However, all Bernanke's cash wasn't enough to push stocks into the green today. At least there wasn't no change.

·        Some other top stories of the day? The House (as expected) approved a $26 billion bailout of the states. Russian wildfires continue to burn, choking Moscow with smog.

San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja with fancy foreplay / motions getting decked / ‘koed’ with a simple right-hook to the jaw by the antagonist named reality. All this finagling, manipulation, fiat currency over-printing, and nation bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised downward, unemployment unabated since economic reality figures somewhat in hiring to say the least, and jobs transferred overseas ain’t comin’ back. Quite simply, this is a depression no matter what they call it! ] Presented without commentary, suffice to say that idiots who look at the LEI and factor for the curve inversion subindicator deserve all they get.

Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool | Four years and the worst recession since the Great Depression later, Schiff stands alone again with a bleaker diagnosis for the economy: an inflationary depression.

Stocks Fall on Productivity Drop, China Data Wall Street Journal | U.S. stocks sank as weaker-than-expected Chinese trade data added to investors’ jitters ahead of a Federal Reserve meeting.

Dollar Will Weaken, 3 Sectors Will Rule: Strategists CNBC Stock Market News | Stocks slipped Friday after the US government report showed more jobs were lost last month than expected.

`DRUDGEREPORT: PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two words: small businesses.

Federal Employees Earn 30 to 40 Percent More than Private-Sector Workers, Study Finds Federal employees earn 30 to 40 percent more money than their private sector counterparts on average, a study from the conservative Heritage Foundation finds.

The Oil Price Surge Indicator Says There’s A 100% Chance Of A New Recession No, that headline is not a typo.

Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead Us Into War The white shoe boys are taking us into the worst depression in history.

Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now…

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record…

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse … One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander…

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by a Prison Planet reader suggest that Google may have moved to de-list “Barry Soetoro” as a popular search term shortly after it rose to the top of the Google Trends charts after yesterday’s effort by radio talk show host Alex Jones to focus attention on Barack Obama’s real name.

Cybersecurity Lie Exposed: Power Plants Are Not Connected To The Internet Senator Joe Lieberman’s draconian Internet takeover legislation, the 197-page Protecting Cyberspace as a National Asset Act, is being promoted as a vital tool to protect vulnerable infrastructure hubs from terrorist attacks, but as a recent Wall Street Journal report makes clear, large industrial power and water plants are not even connected to the public Internet.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Former Obama Campaigner Caught Provocatuering As ‘Racist’ Tea Party Member A man purporting to be a Rand Paul supporter was caught on film brandishing a racist sign at a rally in Kentucky this past weekend, then later spotted marching with supporters of Paul’s political opponent.

Google and Verizon DID do a deal for new internet ‘first class’ superhighway Technology giants Google and Verizon have today paved the way for a future ‘two-tier’ internet in which companies can pay extra to make sure their services get through.      Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the internet along with Cerf, has already weighed in on this topic and strenuously opposed same and whose learned opinion should be given great weight. google and verizon as mere government shills at best and government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast in government hands! ]. So Google and Verizon went public today with their “policy framework” — better known as the pact to end the Internet as we know it.

State of Texas sues BP over 40-days of toxic emissions The state of Texas accused BP of putting profits before environmental safety and sued the British energy giant Monday for the mass release of pollutants after a fire at its troubled Texas City refinery.

Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar Yet another step in the escalation between Iran and the US came earlier today.

The Cycle of Violence in Afghanistan Last week the National Bureau of Economic Research published a report on the effect of civilian casualties in Afghanistan and Iraq that confirmed what critics of our foreign policy have been saying for years: the killing of civilians, although unintentional, angers other civilians and prompts them to seek revenge. This should be self-evident.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday after noon in Edmonton Alberta posting more fliers, posters etc. had a great time had a few people harass me but nothing big. Just gave me motivation to do more!! Resistance is Victory. Never Forget that.!!

Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on wheat exports following widespread fires in the country sent food prices skyrocketing by 19 per cent in just a single week as fears grow that global volatility in foodstuffs and commodities could lead to a worldwide inflationary timebomb accompanied by widespread food riots.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people What the great French historian Alexis de Tocqueville would make of today’s Obama administration were he alive today is anyone’s guess.

The Coming Collapse of The U.S. Political Establishment The last U.S. puppet regime to fall will be. . . the puppet regime in the White House.

Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have been killed in Afghanistan so far this year, mostly by Taliban insurgents, a leading Afghan rights group said Sunday.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran announced the addition of four new submarines to its fleet Sunday, saying the Iranian-manufactured vessels to be deployed in the Persian Gulf have sonar-evading technology and can launch torpedoes and missiles simultaneously.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald | If Obama approves an attack on Iran, war will spread through the Middle East and Asia and cause hundreds of millions of deaths, Castro warned.

Who poses the real threat to the Internet? A new opinion piece on CNN.com argues that it’s the government, not the companies providing internet access, that is the real danger to free speech and the internet. [I personally have found more often and prospectively problematic is that said government / company distinction is one without a difference when the government flexes muscle, particularly with leverage as ie., to non-performing monopolist microsoft, nsa/cia partner google (to a lesser extent at this juncture), cnn/timewarner cable (incompetence also a factor), fedex, etc.].

Sen. DeMint Ratifying U.N. Children’s Rights Treaty Would Turn Parental Rights ‘Over to International Community’ Sen. Jim DeMint (R- S.C.) said that if President Barack Obama gets his way and the Senate ratifies the United Nations Convention on the Rights of the Child, the precedent would be set to place parental rights under the jurisdiction of the international community.

9/11 responders demand justice RT filmed this emotional footage of 9/11 first responders pouring their hearts out at a speech just blocks away from where the twin towers fell. The rally was in response to Congress defeating a federal bill that would have provided billions of dollars in health care for those sickened by toxins released by the collapse of the World Trade Center towers Sept. 11, 2001.

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... PUMP: FED TO BUY MORE DEBT...`
`DOWNGRADES OUTLOOK... US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for Al Qaida … just one too many civilian deaths for no good reason at all ]`

`BACK TO SPEND SOME MORE!`

`Republicans Suggest Names for 'Second Stimulus' Bill...`
`'Where do the bailouts end?'` [I feel compelled to comment here that even capital hill math would be hard-pressed to justify $26 billion taxpayer / treasury dollars they don’t really have, to save 300,000 state / local government jobs! After all, the nation is defacto bankrupt! ]

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news...`

CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST`Michelle Obama 'modern-day Marie Antoinette'...`

`NYT: 'Leaves the taxpayers with a hefty bill'...`
`While Obama preaches sacrifice, his family frolics in Spain...`

`Gazpacho, turbot, veal and ratatouille with the king...`
`Lavish Obama vacation in time of economic turmoil raises eyebrows...`
`BAKER: 'Leaves taxpayers with hefty bill'...`
`Hollywood star-studded gala at first lady's luxury hotel...`

`MICHELLE O'S $375,000 VACATION?! Strolls Marbella after State Dept. 'racist' Spaniards gaffe...`

`White House calling: Please will you make a coat for Michelle...`

`Boy Scouts boo Obama... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`60,000 babies born to 'noncitizens' get U.S. birthright - in Texas alone...`

`Dutch become 1st NATO member to quit Afghanistan...`

8-9-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s. The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC Monday that he sees the stock market bottoming out in October as the world has entered significant financial depression.“Equities are for losers and bond markets for winners. Equities are simply for people who like losing money,” Griffiths said.“A double-dip is inevitable and imminent, as Keynesian stimulus measures have never worked anywhere. We are in the equivalent of a Great Depression following 3 years of credit crisis,” he added.Griffiths also says he has charted a 20-year secular downturn in the West, which we are currently halfway through.Griffiths’ comments echo those of other notable economists and experts who have concluded that zero growth, mass unemployment, and devastating monetary tightening spells depression on a 1932 level.With real measures of unemployment having been at around 20% and rising for some time, other analysts have pointed out that the numbers are in the same ballpark as the Great Depression.The number of Americans relying on food stamps is at a record level of over 40.8 million, that is one out of every eight, with the figure projected to rise to 43.3 million next year. At the height of the Great Depression, the rate was just one out of thirty-five Americans.Furthermore, the M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the all the stimulus activity.July’s dismal jobs report and forecasts of even weaker job growth ahead, along with signs of food inflation, also signals an era of stagflation is upon us, a phenomenon not seen during even the Great Depression.Other economists are beginning to pin the blame for the continuing spiral into depression at the feet of the central bankers:“The major problem is that quantitative easing has been counter-productive.” Brendan Brown, head of research at Mitsubishi UFJ Securities tells CNBC.“The central banks have stopped prices from falling. When prices fall, people buy but by shoring up asset prices the central bankers have stood in the way of recovery,” he added.“The big risk is that the Fed reacts to its own depression. The Fed could over-react and would be better off going on holiday rather than announcing yet more QE,” Brown said on the eve of a Fed meeting to discuss more QE.

ARE YOU PREPARED FOR A MARKET CORRECTION? Alex Dumortier, CFA, On Monday August 9, 2010, 3:21 pm EDT Don't let the August market doldrums lull you into complacency. The market will very likely get much more volatile before the end of the year. If you're not prepared, a spike in the level of volatility could lead you to take rash action, which rarely produces the best outcomes. Worse still, you could miss out on the opportunities that price action creates. Here are some ideas to prevent that from happening.
Volatility is coming -- it's in the numbers
First, why do I think that higher volatility is on the way? For evidence of that, one need only look at the prices of VIX futures expiring in September and beyond. The VIX index is a measure of the market's expectations for future volatility in the S&P 500, based on the stock index's option prices. High VIX values typically accompany market declines, with investors paying up for puts to hedge their stock holdings; thus, the VIX's nickname: Wall Street's "fear gauge."On Friday, the index closed at 21.74 the lowest value since the beginning of May, when the market started experiencing palpitations. By contrast, the October VIX futures contract closed at 29.15. For context, the VIX's average closing price during the months of May and June was 30.9 you'll remember that was a challenging period for stocks.
What you shouldn't do
Don't go out and short the SPDR S&P 500 ETF (NYSE: SPY - News) on this basis. As far as I know, the VIX isn't reliable enough to enable you to time the market (what indicator is?). Furthermore, it's certainly conceivable that the market is overestimating the level of future volatility. Although I think this unlikely, as PIMCO Chief Investment Officer Mohamed El-Erian wrote last week: "With declining confidence in a reliable set of investing rules, markets have become more susceptible to overreactions to daily news and are, therefore, more volatile."Nevertheless, if you anticipate higher volatility, there are other ways to profit from market declines if you are looking at the right set of stocks beforehand. For example, if market prices do begin to swing wildly, we should expect high-beta stocks to be on the sharp end of that trend (beta is a standard measure of how volatile a stock has been relative to the overall market).
The best stock in a 'pariah' sector
The 15th-highest beta stock in the S&P 500, Masco (NYSE: MAS - News), is more than twice as volatile as the S&P 500 (beta: 2.26). One of the world's largest manufacturers of branded products for home improvement and new home construction, it's one of the best names in an industry that has been run out of town by investors due to its dependency on the housing market. Although the shares currently change hands at 17 times estimated earnings for 2011, net income has significantly understated cash earnings over the past several years. If the market were to slip on a banana peel, it could provide a very attractive entry point to own Masco.
'High-beta' isn't the only strategy
Focusing in on high-beta stocks may be overthinking things. Megacap stocks tend to be relatively less volatile than the broad market, but you can't throw a dart at the list of Dow components without hitting a stock that is already attractively priced (well a couple of darts, at any rate). Take a look at these four:

Cisco Systems (Nasdaq: CSCO - News) -- forward P/E ratio: 14.1, debt/equity: 34.8%

ExxonMobil (NYSE: XOM - News) -- forward P/E ratio: 10.7, debt/equity: 8.4%

Procter & Gamble (NYSE: PG - News) -- forward P/E ratio: 15.2, debt/equity: 48.6%

Wal-Mart Stores (NYSE: WMT - News) -- forward P/E ratio: 12.9, debt/equity: 70.8%

High-quality: A good choice in the current environment
Any one of these stocks is a certificate of ownership for an armor-plated franchise, none of which carry a lot of debt. Both of which are attractive characteristics at a time when the economy is vacillating on the edge of deflation. Alternatively, if you aren't interested in selecting specific stocks, you could certainly do worse than to own the index, through the SPDR Dow Jones Industrial Average ETF (NYSE: DIA - News).

Being ready for the next correction
In many ways, the current period marks the mirror image of the last stage of the technology bubble when high-quality, large-cap stocks traded at staggering multiples and were one of the most expensive segments of the market. Today, the same stocks are rather cheaper than the broad market a rare phenomenon.

If your portfolio is heavy with low-quality, highly leveraged companies, you should be aware that those stocks are particularly vulnerable to a potential autumn market correction. Meanwhile, such a correction would provide an opportunity to buy shares in blue-chip, "franchise" stocks at even better prices than the ones on offer today. That's certainly a prospect worth being prepared for. With the recovery stalling and the economy on the brink of deflation, dividends will become increasingly valuable. Jordan DiPietro has identified the best dividend stock. Period. Fool contributor Alex Dumortier, CFA has no beneficial interest in any of the stocks mentioned in this article. Wal-Mart Stores is a Motley Fool Inside Value selection. Masco and Procter & Gamble are Motley Fool Income Investor recommendations. The Fool owns shares of and has written covered calls on Procter & Gamble. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.

Ambac says it's working on bankruptcy filing     MBIA Inc. reports a quarterly profit, while rival bond insurer Ambac Financial Group posts a loss....

Wall Street Moves Up As Fed Gathers For Rate Summit The Federal Reserve is widely expected to maintain its benchmark federal funds rate at historically low levels when its monetary policy committee gathers Tuesday, but the real question is whether the central bank will downgrade its forecast for the U.S. economy or take steps to inject more stimulus into the system. Monday's docile trading day seemed to indicate that traders are not expecting much of a curveball from the Federal Open Market Committee. The major indexes all finished the day moderately higher and in the bond market Treasury yields were little changed. The Dow Jones industrial average finished up 45 points at 10,699, while the S&P 500 added 6 points to 1,128 and the Nasdaq gained 17 points to 2,306. Hewlett-Packard ( HPQ - news - people ) was among Monday's most hotly-traded stocks after Chief Executive Mark Hurd resigned Friday after an investigation into sexual harassment turned up expense account abuses. (See "H-P Still A Buy After Ax Falls On Hurd.") Shares of H-P slid 8% Monday, while fellow Dow component McDonald's ( MCD - news - people ) rallied 1.6% after reporting a 7% gain in same-store sales. (See "McDonald's Drinks Up Beverage Sales.") Elsewhere in high-profile stocks, Google ( GOOG - news - people ) and Verizon ( VZ - news - people ) made headlines with a joint statement on maintaining an open Internet. Shares of Google finished 1% higher, while Verizon added 1.1%.
H-P Hit Hard After Hurd Steps Down
FTE Courts Asian Partners
Colgate Clipped By Citi Cut
Wealthiest Americans Cut Spending

Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January Nothing to see here, except yet another sign of the food inflation that’s the story of the moment.

Wall Street Rewards to Trigger Surge in Informants New US whistleblowing incentives within the Dodd-Frank financial reform act – that could net informants multimillion dollar pay-outs – are likely to generate a surge in allegations against US-listed companies and Wall Street banks, lawyers say.

Fed Control Puts Outsiders In A Disadvantage It was only a month ago that the Dow closed at 9686. From there it started to move back up again as insiders learned of the Fed’s plan to inject $5 trillion into the economy over the next two years. The result has been a run up to 10,674. We figured out what the Fed was up to, but most everyone else did not.

Albert Edwards Explains How The Leading Indicator Is Already Back Into Recession Territory And Why The Japan “Ice Age” Is Coming Albert Edwards reverts to his favorite economic concept, the “Ice Age” in his latest commentary piece, presenting another piece in the puzzle of similarities between the Japanese experience and that which the US is currently going through.

The Horrific Derivatives Bubble That Could One Day Destroy The Entire World Financial System Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it.

Fed set to downgrade outlook for US Financial Times | The Federal Reserve is set to downgrade its assessment of US economic prospects.

Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives As part of its most recent FCIC grilling, David Viniar left the political theater a month ago with a homework assignment to disclose all of the firm’s derivative profits, as well as provide granular detail on its derivative trades.

Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade Whether one believes in inflation or deflation, one thing is certain: in many ways the current US experience finds numerous parallels to what has been happening in Japan for not one but two decades.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In seven simple lines buried in this year’s financial overhaul bill, lawmakers swept away one of the last vestiges of the 1933 Glass-Steagall Act that held sway over markets for decades.

Small firms pay price of bank boom: As bankers celebrate more profits, more companies die from lack of loans Small businesses are paying the price for the banks’ dramatic return to bumper profits.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now. Market investors are hoping that all this bad news will lead to more government stimulus. Pundits talk about more stimuli as if it was a good thing. Our European partners are telling us to be more fiscally responsible or we will be the next Greece. But investors are hopeful that another round of quantitative easing will be announced by the Fed next Tuesday and there is hope for a mortgage bailout for those one in five households with a mortgage that is underwater by August 17th. Now if you have been prudent on your investments and spending the last decade or so and find yourself without any bailout potential (except to maybe write the check for these bailouts in the form of higher taxes) don’t worry because the government is telling us that you will benefit because this will stem the continuing downfall in home prices. Really? After trillions of dollars of global government stimulus the markets are still down 30% from their highs three years ago. Housing is down by about the same percentage. Jobs are scarce and we continue to reward bad behavior or just plain bad luck in the name of ‘for the good of all.’ St. Louis Fed President James Bullard said recently that, the U.S. is closer to a Japanese-style deflation outcome today than at any time in recent history. That hit the head on the nail better than Fed Chair Ben Bernanke’s recent “unusually uncertain” assessment of the economic outlook. Japan has been performing various forms of government intervention for two decades and they are still in a troubled environment. So what happened to capitalism? What happened to free enterprise? What happened to the concept that the markets will reward the winners and the companies that don’t manage well, or produce products that aren’t needed or overpriced, or did a heap of bad loans would perish. That worked for us for over 200 years. Now the markets appear to be cheering for more government intervention. I never thought I would see this day. I for one would like the markets to decide the winners and the losers. Free enterprise might be a short term more painful path – but it would be quicker and the economy would surely regroup much quicker. Don’t believe me – look at Japan! That is what we should not do – yet we are following their path. Intervention is already here. These markets do not want to go down on every piece of bad news. Let the markets clear the air. Volume has traded at the lightest of the year recently. It is so light that it is lower than levels from not only this year but most every year’s light summer volume has not been this paltry. I think that the markets have become a controlled environment. It’s as if some major investors are saying. “Don’t worry about all the bad news; we’ll hold it up for now, because help is on the way (in the form of more intervention).”Granted earnings season was pretty good, relative to expectations. But when those expectations are lowered dramatically, sometimes it becomes easy to beat those reduced levels. To be fair, some companies are actually doing better than before the recession began – but those companies are few and far between. Consumer credit is still shrinking and higher taxes starting in January is just around the corner. The consumer is needed to drive the economy. Savings is also up causing another crimp in spending. I remember when the following old saying was a joke. Next week Tuesday could be very telling when we hear some variation of it: “Hi - we’re from the government – we’re here to help!” Let’s all hope it all works out – but I for one am not in favor of any more of this kind of assistance. I wish more people felt the way I do and believed we should just let the chips fall where they may and then let’s band together to pick up the pieces. But the likely hood is we’ll just add more scotch tape to the crumbling dam. I hope I am wrong for the good of us all!

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record. Is this really reason to celebrate? But wait, there's more. The S&P Case-Shiller Composite Home Price Index inched from 144.59 to 146.43 for May, a 1.25% increase. Many are unaware that the Case-Shiller Home Price Index is a three month average and is released with a two month lag. The most recent 3-month average as of May included the period when buyers still received their $8,000 tax credit. As the chart below shows, despite a 80%+ rally in equities, trillions worth of stimulus money, $8,000 home-buyers tax credit, and a lot of hot air, the Case-Shiller Index has only risen 6 points, or 5.15%, from its March 2009 low and remains 30% below its 2006 high. [chart]
Banks' Toxic Assets: It's no secret that the economy started choking because banks gorged on toxic real estate assets. As the real estate related losses piled up, banks got into trouble and started hording their meager funds and lending dried up. Since then, banks have taken free government money and invested it in various Treasuries. Even yields for short and long-term treasuries (NYSEArca: TLT - News) have fallen, and banks have been earning interest without risk, while businesses can't obtain funding. Another income source for banks has been securities trading. But, since stocks have fallen, so have banks' trading revenue, meanwhile banks' real estate portfolios remain unchanged. Unemployment is persistent and foreclosures continue to soar. Thus far, free interest and rising stocks have covered up the losses racked up by banks' portfolios of toxic assets. But the weak link (falling real estate prices) has not been fixed. Once pressure is put on the chain, it will break again. The problems within the financial sector have been visible all along. 106 banks, many of them regional banks (NYSEArca: KRE - News), have failed already in 2010. At the same time last year, only 65 banks failed. An additional 775 banks are on the FDIC's problem bank list. Unlike Wall Street and the financial media, the ETF Profit Strategy Newsletter bothers to take a look under the hood and examine the engines that drive the economy. It's quite obvious that a number of pistons have blown, the engine is sputtering but the car is rolling downhill. Once the next hill comes, the car (aka the economy) will come to a standstill. AAA can't fix blown pistons, neither can the government.
The ETF Profit Strategy Newsletter regularly and consistently monitors and analysis technical, fundamental, sentiment and valuation gauges to formulate detailed short, mid and long-term forecasts, along with a target for the ultimate market bottom. ‘

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse In early January 2008, I had a very troubling conversation with my colleague at Matrix Analytix regarding a significant warning sign suggesting that a major crisis loomed on the horizon of the equity markets that year. The content of our conversation was focused on the implications of a massive one-year head & shoulders on the S&P 500 (SPY). The issue consistently pervaded my mind because if what the equity markets seemed to signal was true, we were probably headed for a major collapse. I remember asking him specifically, “Can this be for real? What are the implications of a head & shoulders of that magnitude completely unwinding?”My colleague all but confirmed my concerns even pointing to a potential culprit for the impending downturn. He had noted that the markets had all but brushed off early warnings of systemic risk and liquidity concerns posed by the potential failure of subprime MBS’s that August, and that such concerns were likely to resurface in 2008. I, for one, didn’t really care what the potential culprit may be. For me, the fact that market technicals suggested that an impending failure was drawing near formed the basis of my concerns.The fact that market participants, investors, and the mainstream media continued to put their heads in the sand and ignore such blatant signs of the broader market was simply unacceptable. At the time, the S&P 500 had rallied nearly 35% over the past 2 years. There was rampant discussion of Dow (DIA) 18,000 as the market continued to “benefit” from the so-called “Goldilocks economy.” Almost everyone was either oblivious to the warning signs of the broader market or simply decided to ignore them.

Turn the page to today, and it’s the same story all over again. While investors, fund managers, and the mainstream financial media debate whether we’re headed for a double-dip recession, they simply continue to disregard the obvious technical damage done on the broader market. Once again, this article is not so much concerned with the potential fundamental reasons or theories advanced as to why the markets might unravel. Instead, I’m more concerned with what the broader market seems to be telling me about the immediate future.

One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander.

Once again, right now I’m focused on what the trading activity in the broader market seems to be telling me rather than on what the fundamentals of the economy or the mechanical structure of the markets indicate. The techncials suggest, as they did in early 2008, that there is something fundamentally wrong with the financial markets and that a collapse, whatever the fundamental reasons may be, is potentially drawing near. There are seven issues I’ll briefly discuss below, and why it's imperative that my readers should explore these issues in more detail.

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ

2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

…

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…

5. 1,000 POINT FLASH CRASHES

…

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Gold Has Got Its Groove Back How dare any of you second guess the gold bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to a day’s high of $1,186. Our precioussss is back on a tear, maybe.

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

Very Curious Activity in the Gold Bullion Market Leads to Speculation that Banks are Short Tons of Gold Huge gold swaps have recently occurred between the Bank for International Settlements and various banks in Western Europe and the United States. Bankers are attempting to play this up as “business as usual”. However, the gold swaps that have been conducted lately are recording breaking in size, as far from “business as usual” as you can get.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet another search term announced during the Alex Jones Show, “Barry Soetoro” has topped Google Trends’ hot searches, and that means a boost to exposing important keys to President Obama’s true history. The #1 search trend corresponds with a visit to Austin, Texas today from President Barack Obama, a.k.a. Barry Soetoro.

Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns While Barry Soetoro’s family lavish themselves at a luxury Spanish resort amidst deepening economic turmoil, back home Obama’s political dynasty crashes and burns as his approval ratings plunge to a record low of 41 per cent with less than a few months to go before the October midterm elections.

The Fraud Of Barry Soetoro* (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant to the Constitutional legitimacy of the presidency Barack Obama. There have been various problems with the vetting of Mr. Obama throughout the campaign and the present. I’d like to take the opportunity to highlight the most pertinent and alarming issues that have been clearly revealed. I’m sure you will agree that this information must be further investigated promptly before any damage is done to the United States and its citizens beyond the Constitutional compromises that currently exist. Most interesting, though, is the fact that Mr. Obama has not simply ordered the original vault copy of his birth certificate to be sealed and chosen to retain three (3) law firms to defend the various cases spending a reported $800,000 (of whose money?). If Mr. Obama has nothing to hide, then why fight the more than 42 cases in federal courts alone (according to Justia) and similar number in state courts of which the merits are well-founded and substantiated through factual evidence, state and federal statutes, and international laws? Main issue is that the state of HI, according to statue 338 allows Foreign born children of Hawaiian residents to obtain Hawaiian birth certificates and obtain them based on a statement of one relative only. There is plenty of evidence of Mr. Obama being born in Kenya and obtaining his Hawaiian birth certificate based on a statement of his grandparent only, who simply didn’t want to deal with immigration and not based on any records from any hospitals. Extensive searches in the State of Hawaii showed no birthing records for his mother [Stanley] Ann Dunham in any hospital in Hawaii. … I request all of this information to be forwarded to the Senate Armed Services Committee, Senate Finance Committee, Senate Judicial Committee, Mr. Steven Whitlock, director of the whistle blower office of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’

Bill & Melinda Gates Foundation Gave Millions to La Raza Kurt Nimmo | Globalist foundations are determined to exploit La Raza in order to further their one-world and eugenics depopulation agenda.

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday after noon in Edmonton Alberta posting more fliers, posters etc. had a great time had a few people harass me but nothing big. Just gave me motivation to do more!! Resistance is Victory. Never Forget that.!!

Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on wheat exports following widespread fires in the country sent food prices skyrocketing by 19 per cent in just a single week as fears grow that global volatility in foodstuffs and commodities could lead to a worldwide inflationary timebomb accompanied by widespread food riots.

The Obama presidency increasingly resembles a modern-day Ancien Régime: extravagant and out of touch with the American people What the great French historian Alexis de Tocqueville would make of today’s Obama administration were he alive today is anyone’s guess.

The Coming Collapse of The U.S. Political Establishment The last U.S. puppet regime to fall will be. . . the puppet regime in the White House.

Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have been killed in Afghanistan so far this year, mostly by Taliban insurgents, a leading Afghan rights group said Sunday.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran announced the addition of four new submarines to its fleet Sunday, saying the Iranian-manufactured vessels to be deployed in the Persian Gulf have sonar-evading technology and can launch torpedoes and missiles simultaneously.

Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And b is for it’s hard to believe that they’ve done it again. The last time, even more money vanished, which I noted in my article, Following Pentagon trillions to Israel and 9-11. This was under the Zionist Dov Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to March 10, 2004.

Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald | If Obama approves an attack on Iran, war will spread through the Middle East and Asia and cause hundreds of millions of deaths, Castro warned.

Who poses the real threat to the Internet? A new opinion piece on CNN.com argues that it’s the government, not the companies providing internet access, that is the real danger to free speech and the internet. [I personally have found more often and prospectively problematic is that said government / company distinction is one without a difference when the government flexes muscle, particularly with leverage as ie., to non-performing monopolist microsoft, nsa/cia partner google (to a lesser extent at this juncture), cnn/timewarner cable (incompetence also a factor), fedex, etc.].

Sen. DeMint Ratifying U.N. Children’s Rights Treaty Would Turn Parental Rights ‘Over to International Community’ Sen. Jim DeMint (R- S.C.) said that if President Barack Obama gets his way and the Senate ratifies the United Nations Convention on the Rights of the Child, the precedent would be set to place parental rights under the jurisdiction of the international community.

9/11 responders demand justice RT filmed this emotional footage of 9/11 first responders pouring their hearts out at a speech just blocks away from where the twin towers fell. The rally was in response to Congress defeating a federal bill that would have provided billions of dollars in health care for those sickened by toxins released by the collapse of the World Trade Center towers Sept. 11, 2001.

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news... Michelle Obama 'modern-day Marie Antoinette'...MICHELLE O'S $375,000 VACATION?!`
`Strolls Marbella after State Dept. 'racist' Spaniards gaffe... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`Dutch become 1st NATO member to quit Afghanistan...`

8-6-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Yeah! Dave’s the only one who seems to be on the mark concerning the preposterous market action this day. Even before reading same I was going to comment here that I believed that the decision to ‘mouse click / button push’ the programmed buy trades was probably made after hours in the previous session. Remember, these are desperate criminally insane frauds on wall street who really try very hard to get people to buy into their paper-churning high-frequency trade / commission scam for which ultimately potentially productive money is siphoned off / drained from the economy into their pockets which is a net negative in real economic terms. They know all the tricks, technical trendlines, moving averages, etc., to suck them in: Buy Program Express Lifts Markets: Dave's Daily - The economic news from the unemployment report could not be worse and an old pattern was repeated -- higher volume on a selloff followed by an engineered "stick save" into the close. It used to be hard to make this stuff up, now it's becoming routine. As noted yesterday, bulls might like bad data since they'd expect another round of quantitative easing (QE2) from the Fed and a politically desperate administration. This means more liquidity baby and an opportunity to lift stocks to new highs. That's the thinking from bizzaro-land. So we get another big intraday 150 point swing in the DJIA as the "2:15 PM Buy Program Express" hits the tape on time as volume starts to dry up. That's why the caution sign advises to stay away from the Program Trading Express. Nevertheless, volume increased Friday with most of that coming early and often. Breadth was negative but not overwhelmingly so.

YAHOO [BRIEFING.COM] : ‘The week of August 6 began with plenty of promise, but disappointment over the July jobs led to a lackluster finish. The stock market started the week with a 2.2% surge that saw it close above its 200-day moving average for the first time since June. Participants were encouraged by the latest ISM Manufacturing Index, which pulled back for the third straight month to hit 55.5 for July, but still exceeded the 54.2 that had been widely expected. Midweek action was much more muddled. Participants digested a better-than-expected July ISM Service Index of 54.3, a worse-than-forecast 1.2% drop in June factory orders, a surprise decline in June pending home sales, and flat personal income and spending figures for June. Some took hope that the job market was seeing improvement since the latest ADP Employment Change stated that private payrolls for July increased by 42,000 when only 25,000 additions had been expected. However, news that initial jobless claims for the week ended July 31 climbed more than expected to a three-month high of 479,000 weighed on sentiment. Trade on Friday was mostly dictated by the government's official monthly jobs report, which showed that 131,000 nonfarm payrolls were slashed in July. A sample of economists polled by Briefing.com had expected, on average, a more moderate decline of 87,000 jobs. Combining the worse-than-expected July jobs report and the downward revision to June data, nonfarm payrolls had their worst pair of payrolls reports in eight months. Despite that development, the headline unemployment rate stayed at 9.5%, but that is because the labor force continues to shrink as discouraged job seekers suspend their efforts…’

Riiiiight! That ‘no longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit.    Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News      71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now. Market investors are hoping that all this bad news will lead to more government stimulus. Pundits talk about more stimuli as if it was a good thing. Our European partners are telling us to be more fiscally responsible or we will be the next Greece. But investors are hopeful that another round of quantitative easing will be announced by the Fed next Tuesday and there is hope for a mortgage bailout for those one in five households with a mortgage that is underwater by August 17th. Now if you have been prudent on your investments and spending the last decade or so and find yourself without any bailout potential (except to maybe write the check for these bailouts in the form of higher taxes) don’t worry because the government is telling us that you will benefit because this will stem the continuing downfall in home prices. Really? After trillions of dollars of global government stimulus the markets are still down 30% from their highs three years ago. Housing is down by about the same percentage. Jobs are scarce and we continue to reward bad behavior or just plain bad luck in the name of ‘for the good of all.’ St. Louis Fed President James Bullard said recently that, the U.S. is closer to a Japanese-style deflation outcome today than at any time in recent history. That hit the head on the nail better than Fed Chair Ben Bernanke’s recent “unusually uncertain” assessment of the economic outlook. Japan has been performing various forms of government intervention for two decades and they are still in a troubled environment. So what happened to capitalism? What happened to free enterprise? What happened to the concept that the markets will reward the winners and the companies that don’t manage well, or produce products that aren’t needed or overpriced, or did a heap of bad loans would perish. That worked for us for over 200 years. Now the markets appear to be cheering for more government intervention. I never thought I would see this day. I for one would like the markets to decide the winners and the losers. Free enterprise might be a short term more painful path – but it would be quicker and the economy would surely regroup much quicker. Don’t believe me – look at Japan! That is what we should not do – yet we are following their path. Intervention is already here. These markets do not want to go down on every piece of bad news. Let the markets clear the air. Volume has traded at the lightest of the year recently. It is so light that it is lower than levels from not only this year but most every year’s light summer volume has not been this paltry. I think that the markets have become a controlled environment. It’s as if some major investors are saying. “Don’t worry about all the bad news; we’ll hold it up for now, because help is on the way (in the form of more intervention).”Granted earnings season was pretty good, relative to expectations. But when those expectations are lowered dramatically, sometimes it becomes easy to beat those reduced levels. To be fair, some companies are actually doing better than before the recession began – but those companies are few and far between. Consumer credit is still shrinking and higher taxes starting in January is just around the corner. The consumer is needed to drive the economy. Savings is also up causing another crimp in spending. I remember when the following old saying was a joke. Next week Tuesday could be very telling when we hear some variation of it: “Hi - we’re from the government – we’re here to help!” Let’s all hope it all works out – but I for one am not in favor of any more of this kind of assistance. I wish more people felt the way I do and believed we should just let the chips fall where they may and then let’s band together to pick up the pieces. But the likely hood is we’ll just add more scotch tape to the crumbling dam. I hope I am wrong for the good of us all!

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record. Is this really reason to celebrate? But wait, there's more. The S&P Case-Shiller Composite Home Price Index inched from 144.59 to 146.43 for May, a 1.25% increase. Many are unaware that the Case-Shiller Home Price Index is a three month average and is released with a two month lag. The most recent 3-month average as of May included the period when buyers still received their $8,000 tax credit. As the chart below shows, despite a 80%+ rally in equities, trillions worth of stimulus money, $8,000 home-buyers tax credit, and a lot of hot air, the Case-Shiller Index has only risen 6 points, or 5.15%, from its March 2009 low and remains 30% below its 2006 high. [chart]
Banks' Toxic Assets: It's no secret that the economy started choking because banks gorged on toxic real estate assets. As the real estate related losses piled up, banks got into trouble and started hording their meager funds and lending dried up. Since then, banks have taken free government money and invested it in various Treasuries. Even yields for short and long-term treasuries (NYSEArca: TLT - News) have fallen, and banks have been earning interest without risk, while businesses can't obtain funding. Another income source for banks has been securities trading. But, since stocks have fallen, so have banks' trading revenue, meanwhile banks' real estate portfolios remain unchanged. Unemployment is persistent and foreclosures continue to soar. Thus far, free interest and rising stocks have covered up the losses racked up by banks' portfolios of toxic assets. But the weak link (falling real estate prices) has not been fixed. Once pressure is put on the chain, it will break again. The problems within the financial sector have been visible all along. 106 banks, many of them regional banks (NYSEArca: KRE - News), have failed already in 2010. At the same time last year, only 65 banks failed. An additional 775 banks are on the FDIC's problem bank list. Unlike Wall Street and the financial media, the ETF Profit Strategy Newsletter bothers to take a look under the hood and examine the engines that drive the economy. It's quite obvious that a number of pistons have blown, the engine is sputtering but the car is rolling downhill. Once the next hill comes, the car (aka the economy) will come to a standstill. AAA can't fix blown pistons, neither can the government.
The ETF Profit Strategy Newsletter regularly and consistently monitors and analysis technical, fundamental, sentiment and valuation gauges to formulate detailed short, mid and long-term forecasts, along with a target for the ultimate market bottom. ‘

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse In early January 2008, I had a very troubling conversation with my colleague at Matrix Analytix regarding a significant warning sign suggesting that a major crisis loomed on the horizon of the equity markets that year. The content of our conversation was focused on the implications of a massive one-year head & shoulders on the S&P 500 (SPY). The issue consistently pervaded my mind because if what the equity markets seemed to signal was true, we were probably headed for a major collapse. I remember asking him specifically, “Can this be for real? What are the implications of a head & shoulders of that magnitude completely unwinding?”My colleague all but confirmed my concerns even pointing to a potential culprit for the impending downturn. He had noted that the markets had all but brushed off early warnings of systemic risk and liquidity concerns posed by the potential failure of subprime MBS’s that August, and that such concerns were likely to resurface in 2008. I, for one, didn’t really care what the potential culprit may be. For me, the fact that market technicals suggested that an impending failure was drawing near formed the basis of my concerns.The fact that market participants, investors, and the mainstream media continued to put their heads in the sand and ignore such blatant signs of the broader market was simply unacceptable. At the time, the S&P 500 had rallied nearly 35% over the past 2 years. There was rampant discussion of Dow (DIA) 18,000 as the market continued to “benefit” from the so-called “Goldilocks economy.” Almost everyone was either oblivious to the warning signs of the broader market or simply decided to ignore them.

Turn the page to today, and it’s the same story all over again. While investors, fund managers, and the mainstream financial media debate whether we’re headed for a double-dip recession, they simply continue to disregard the obvious technical damage done on the broader market. Once again, this article is not so much concerned with the potential fundamental reasons or theories advanced as to why the markets might unravel. Instead, I’m more concerned with what the broader market seems to be telling me about the immediate future.

One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander.

Once again, right now I’m focused on what the trading activity in the broader market seems to be telling me rather than on what the fundamentals of the economy or the mechanical structure of the markets indicate. The techncials suggest, as they did in early 2008, that there is something fundamentally wrong with the financial markets and that a collapse, whatever the fundamental reasons may be, is potentially drawing near. There are seven issues I’ll briefly discuss below, and why it's imperative that my readers should explore these issues in more detail.

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ

The biggest warning sign the market seems to be giving us right now is the blatant 10-month head & shoulders formation seen on each of the major indices. Like in 2008, a massive head & shoulders of this magnitude is not something that investors ought to take lightly. Millions chose to ignore this warning sign in 2008 at their peril. I’m not going to sit here and belabor the point as I’ve already written extensively on this topic, which could be found here.Yet, to summarize, a head & shoulders formation is arguably the most bearish technical formation in the books. The time, breadth and size of this head & shoulders is exactly the same as what we saw in early 2008 just before entering the biggest bear market in modern history …

[chart]

2. BULLISH FLAG ON THE VIX?

Almost as important as the head & shoulders on every broad market index and exchange is the huge bullish flag on the VIX, VXN and VXX (VXX). Volatility looks like it's about to explode higher in the September to October time frame. A convergence of the upper and lower trend lines appears to take place near the end of August. This certainly does not bode well for the markets. An explosion of volatility can only be viewed as conclusively negative for the markets. We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

[chart]

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

This topic has already been written about quite extensively over the past few weeks. As you may or may not be aware, the 50-day moving average crossed under the 200-day on the S&P 500 signaling that the March 2009 to April 2010 bull market might be at an end. When the 50 and 200 days cross in this manner, it suggests that the overall trend has weakened to such a degree that the recent price action is viewed as a topping process for the markets. We saw this exact same bearish cross on the S&P 500 in early January 2008 right at the start of the great bear market. You can read more about the death-cross here, here and here …

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

Arguably one of the biggest warning signs suggesting that the entire 2009 to 2010 advance is just a bear market rally arises from the fact that the move was done on increasingly less volume. The clear lack of conviction indicates that the move was orchestrated by very few market participants. Some have advocated that the 2009 to 2010 rally was performed under the complete control of the federal reserve or by high frequency traders in either a ploy to combat deflation or by fixing the odds of the market to favor the very few. If Goldman Sachs (GS) posting gains every day in Q1 isn’t enough evidence that the game is fixed, I don’t know what is.

Every down move in the market is done on massive volume, and every up move on little to no volume. Each day of the February to April melt-up rally was easy to predict. When volume tanks, the market rises and volume picks up, the market tanks. What kind of no-conviction fraudulent market rallies on zero volume and tanks on heavy volume? Even the July bounce to this correction was done on low volume. Down days in July exhibited huge volume while up days saw declining participation.

This lack of conviction in the equity markets is further evidenced by the disconcertingly significant mutual fund outflows seen over the past year. Tyler Durden notes in an article posted at Zero Hedge last week:

The latest update from ICI is a doozy: in the week ended July 21, domestic equity mutual funds saw a 12th sequential outflow of $1.5 billion. Even as the market has surged 10% in the last three weeks, just under $10 billion have been redeemed from mutual funds, completely invalidating the move and further justifying the skeptics who see absolutely no reflection to reality in the volumeless ramp orchestrated by a few momentum HFTs and a couple of Primary Dealers with some excess leftover Discount Window change. Not to mention that 12 weeks in a row of outflows pretty much marks game over as far as retail participation is concerned in stocks…

[chart]

5. 1,000 POINT FLASH CRASHES

Adding to the concerns of low volume and mutual fund outflows, if 1,000-point inter-day swings in the Dow doesn’t raise a clear red flag to investors that the mechanics of the market is under fire, then clearly nothing can convince the average investor to consider caution in the coming months. Whether the so-called “flash-crash” was the result of some questionable “fat-finger” trade or the result of everyone putting in stop losses at the same level on the S&P (which I warned about 7-minutes prior to the crash see here) is anyone’s guess…

[chart]

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Gold Has Got Its Groove Back How dare any of you second guess the gold bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to a day’s high of $1,186. Our precioussss is back on a tear, maybe.

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

Very Curious Activity in the Gold Bullion Market Leads to Speculation that Banks are Short Tons of Gold Huge gold swaps have recently occurred between the Bank for International Settlements and various banks in Western Europe and the United States. Bankers are attempting to play this up as “business as usual”. However, the gold swaps that have been conducted lately are recording breaking in size, as far from “business as usual” as you can get.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... WELCOME TO THE RECOVERY...`
`JULY UNEMPLOYMENT -131,000 JOBS... Revised: May/June -97,000 jobs than first reported...`
`Odd mix of bad news... Michelle Obama 'modern-day Marie Antoinette'...MICHELLE O'S $375,000 VACATION?!`
`Strolls Marbella after State Dept. 'racist' Spaniards gaffe... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`Dutch become 1st NATO member to quit Afghanistan...`

8-5-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons. Either I’ve been in the wrong names or just caught a bad tape there, either way my long exposure was not performing the way it should have been. One after another I’ve seen gains get torn away from me by stocks gapping down overnight on news or whatever it may be. Frankly, it doesn’t matter, the only thing that does is the bottom line. It’s ok to be wrong in this business, in fact my trading style is wrong almost half the time, the key is to take your stops and move on, because at the end of the day the winners, if you play them right, will far and away make up for the half of your trades that don’t work.
First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, I can always step back in, I don’t run 5 billion dollars, I don’t move stocks, I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. Short term the market doesn’t look bad, we are still above a rising 5 day moving average and pushing up against a big resistance level going back to June. But, in the larger scheme of things I don’t think we crack this level on the first shot, I think we need a pullback here to regroup and gain more energy. As well, on the intermediate term time frame, the market is showing a rising wedge technical pattern, a bearish pattern. No, I’m not calling here for a complete roll over as I did back in early April, I’m just saying that the risk here is to the downside and with my underperformance as of late I’m just not confident enough to be pushing the pedal to the floor at these levels.
Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good.
Fourth, many of my oscillators are overbought here.
Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. We haven’t seen tech, the leader, make a big move. The oil service names, steel names, agriculture names, and transports have fueled this rally. They were very very oversold in early July and needed to bounce, now that they have reverted back to the mean so to speak, what now? Where is the next leadership, I still don’t see rotation back into tech, the semis are still stuck in the mud and breakouts in momentum names are failing.
It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

YAHOO [BRIEFING.COM]: ‘A bleak weekly jobless claims count caused consternation ahead of tomorrow's pivotal nonfarm payrolls report. Stocks responded by plodding along with modest losses for the entire session. Initial jobless claims for the week ended July 31 to a three-month high of 479,000, which was worse than the expected initial claims count of 455,000. Continuing claims came down 34,000 from the prior week, but they remain at uncomfortably high levels above 4.5 million. Even though the weekly claims figures will not play a part in the calculation of the July payrolls report, which is due tomorrow, the data stirred concern that the report might not show the improvement that some had hoped for following a better-than-expected ADP Employment Change reading yesterday …’

Equities Reflect Caution Ahead of Jobs Report Midnight Trader 4:22 PM, Aug 5, 2010 --

DJIA down 5 (-0.05%) to 10,675

S&P 500 down 1 (-0.1%) to 1,126

Nasdaq down 10.5 (-0.5%) to 2,293

GLOBAL SENTIMENT

Hang Seng up 0.01%

Nikkei up 1.73%

FTSE down 0.38%

UPSIDE MOVERS
(+) KSS says July same-store sales up 4.1%, raises earnings view.
(+) VLNC reports improved Q1 from year-ago result.
(+) PCS beats with Q2 results.
(+) HUN easily tops with Q2 results.
(+) HAUP launches high def video support for Windows Media Center.
(+) GPS sales up, guides for earnings below Stret view.
(+) KLIC beats with earnings and guides for sales above Street.
(+) M says July sales up 7.3%.
(+) ANF sales up 7%.
(+) BP up on cap progress.
(+) MF beats with Q1 earnings.
(+) LIZ results mostly positive, misses with revenue.

DOWNSIDE MOVERS
(-) JCP says same-store sales slip, expects Q2 EPS at low end of
range.
(-) ALXA prices shares.
(-) ARO cuts EPS outlook.
(-) SD down despite earnings beat.
(-) BCS down as earnings about in line.
(-) UN extends European decline to US action after latest earnings.
(-) GYMB sales miss.

MARKET DIRECTION
Stock averages improve late to end barely down. Wall Street traded in soggy fashion after a surprise rise in weekly jobless benefits applications and mixed retail sales results. Plus, caution persists ahead of Friday's jobs report. Oil closed down 0.6% though ending off session lows. September futures settled at $82.01 a barrel on the New York Mercantile Exchange. Natural gas for September delivery slumped 3% to close at $4.60 per million British thermal units. Natural gas futures lost grip of earlier gains despite a government report showing a smaller-than-expected increase in inventories for the week ended July 30. Stocks have gained without much of a pause since hitting lows for the year on July 2. The broad S&P 500 is up 10% since that day. Earnings news continues to be largely supportive but economic data can be sobering. The number of people applying for initial unemployment benefits climbed by 19,000 to 479,000 in the latest week. Economists expected a drop in claims. The less-volatile four-week average of initial claims rose by 5,250 to 453,250. The number of workers who continue to receive state unemployment checks, meanwhile, fell by 34,000 to 4.54 million in the week ended July 24, the latest data available. Economists polled by Reuters are expecting Friday's U.S. Labor Department report to show a drop of 65,000 in non-farm payrolls in July as temporary U.S. Census Bureau jobs dried up. Private employers are expected to have added 90,000 jobs. Consumers remain one of the bigger question marks in the recovery. Retailers reported July same-store sales results today. The 28 retailers tracked by Thomson Reuters reported July same-store sales rose only 2.9%, short of analysts' expectations for a 3.1% gain. Costco Wholesale Corp. (COST) and Limited Brands Inc.(LTD) reported big jumps in July sales, but the gain was deceiving because last year's results were poor. Costco is down 1.83% and Limited is up 0.42%. In company news, the Android software from Google Inc. (GOOG) will likely outpace Apple Inc.'s (AAPL) iPhone in the number of phones in use worldwide by 2012, reports tech industry research firm iSuppli. Android software will likely reside in 75 million smart phones by then while iPhone will be used in 62 million, according to the report. Drugmakers led by Pfizer Inc. (PFE) could soon be able to shrink the amount of time it takes to test a drug's safety by months to years after it, along with other companies, get access to a new testing system, according to Bloomberg. That could add millions of dollars in revenue and savings on research, according to the report. The new system uses computers to test produicts against human and animal cells instead of living organisms and was developed by the federal government, the report says. The June quarter earnings season rolled from yesterday's after-hours session to this morning before the bell. Viacom Inc. (VIA) is struggling in the red in early trading, down 1.56%, but off its early low of $37.06, after reporting Q2 net income of $420 million, or 69 cents per share, compared with $277 million, or 46 cents per share, last year. Analysts were looking for a consensus 66 cents per share on Thomson Reuters. Overall revenue was flat at $3.3 billion, below analysts' call for $3.4 billion.Meanwhile, The Gymboree Corp. (GYMB) reports Q2 sales of $219.3 mln, below the analyst mean of $233 million on Thomson Reuters. Hartford Financial Services (HIG) shares are down sharply on earlier news the seller of life insurance said earnings per share for the year would be $2.10 to $2.30 this year instead of the previous target of $2.70 to $3, according to a Bloomberg report. Second quarter income was $76 million or $0.14 a share compared with a loss of $15 million or $0.06. Playboy Enterprises (PLA) shares are lower after the company said June quarter losses were wider than expected due to declines in revenue from print and digital segments, according to a Reuters report. Net loss at the company narrowed to $5.4 million, or 16 cents per share, from $8.7 million, or 26 cents per share, a year ago. Still, analysts were expecting a loss of $0.15 a share on sales of $58 million, according to Thomson Reuters.

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record. Is this really reason to celebrate? But wait, there's more. The S&P Case-Shiller Composite Home Price Index inched from 144.59 to 146.43 for May, a 1.25% increase. Many are unaware that the Case-Shiller Home Price Index is a three month average and is released with a two month lag. The most recent 3-month average as of May included the period when buyers still received their $8,000 tax credit. As the chart below shows, despite a 80%+ rally in equities, trillions worth of stimulus money, $8,000 home-buyers tax credit, and a lot of hot air, the Case-Shiller Index has only risen 6 points, or 5.15%, from its March 2009 low and remains 30% below its 2006 high. [chart]
Banks' Toxic Assets: It's no secret that the economy started choking because banks gorged on toxic real estate assets. As the real estate related losses piled up, banks got into trouble and started hording their meager funds and lending dried up. Since then, banks have taken free government money and invested it in various Treasuries. Even yields for short and long-term treasuries (NYSEArca: TLT - News) have fallen, and banks have been earning interest without risk, while businesses can't obtain funding. Another income source for banks has been securities trading. But, since stocks have fallen, so have banks' trading revenue, meanwhile banks' real estate portfolios remain unchanged. Unemployment is persistent and foreclosures continue to soar. Thus far, free interest and rising stocks have covered up the losses racked up by banks' portfolios of toxic assets. But the weak link (falling real estate prices) has not been fixed. Once pressure is put on the chain, it will break again. The problems within the financial sector have been visible all along. 106 banks, many of them regional banks (NYSEArca: KRE - News), have failed already in 2010. At the same time last year, only 65 banks failed. An additional 775 banks are on the FDIC's problem bank list. Unlike Wall Street and the financial media, the ETF Profit Strategy Newsletter bothers to take a look under the hood and examine the engines that drive the economy. It's quite obvious that a number of pistons have blown, the engine is sputtering but the car is rolling downhill. Once the next hill comes, the car (aka the economy) will come to a standstill. AAA can't fix blown pistons, neither can the government.
The ETF Profit Strategy Newsletter regularly and consistently monitors and analysis technical, fundamental, sentiment and valuation gauges to formulate detailed short, mid and long-term forecasts, along with a target for the ultimate market bottom. ‘

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse In early January 2008, I had a very troubling conversation with my colleague at Matrix Analytix regarding a significant warning sign suggesting that a major crisis loomed on the horizon of the equity markets that year. The content of our conversation was focused on the implications of a massive one-year head & shoulders on the S&P 500 (SPY). The issue consistently pervaded my mind because if what the equity markets seemed to signal was true, we were probably headed for a major collapse. I remember asking him specifically, “Can this be for real? What are the implications of a head & shoulders of that magnitude completely unwinding?”My colleague all but confirmed my concerns even pointing to a potential culprit for the impending downturn. He had noted that the markets had all but brushed off early warnings of systemic risk and liquidity concerns posed by the potential failure of subprime MBS’s that August, and that such concerns were likely to resurface in 2008. I, for one, didn’t really care what the potential culprit may be. For me, the fact that market technicals suggested that an impending failure was drawing near formed the basis of my concerns.The fact that market participants, investors, and the mainstream media continued to put their heads in the sand and ignore such blatant signs of the broader market was simply unacceptable. At the time, the S&P 500 had rallied nearly 35% over the past 2 years. There was rampant discussion of Dow (DIA) 18,000 as the market continued to “benefit” from the so-called “Goldilocks economy.” Almost everyone was either oblivious to the warning signs of the broader market or simply decided to ignore them.

Turn the page to today, and it’s the same story all over again. While investors, fund managers, and the mainstream financial media debate whether we’re headed for a double-dip recession, they simply continue to disregard the obvious technical damage done on the broader market. Once again, this article is not so much concerned with the potential fundamental reasons or theories advanced as to why the markets might unravel. Instead, I’m more concerned with what the broader market seems to be telling me about the immediate future.

One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander.

Once again, right now I’m focused on what the trading activity in the broader market seems to be telling me rather than on what the fundamentals of the economy or the mechanical structure of the markets indicate. The techncials suggest, as they did in early 2008, that there is something fundamentally wrong with the financial markets and that a collapse, whatever the fundamental reasons may be, is potentially drawing near. There are seven issues I’ll briefly discuss below, and why it's imperative that my readers should explore these issues in more detail.

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ

The biggest warning sign the market seems to be giving us right now is the blatant 10-month head & shoulders formation seen on each of the major indices. Like in 2008, a massive head & shoulders of this magnitude is not something that investors ought to take lightly. Millions chose to ignore this warning sign in 2008 at their peril. I’m not going to sit here and belabor the point as I’ve already written extensively on this topic, which could be found here.Yet, to summarize, a head & shoulders formation is arguably the most bearish technical formation in the books. The time, breadth and size of this head & shoulders is exactly the same as what we saw in early 2008 just before entering the biggest bear market in modern history …

[chart]

2. BULLISH FLAG ON THE VIX?

Almost as important as the head & shoulders on every broad market index and exchange is the huge bullish flag on the VIX, VXN and VXX (VXX). Volatility looks like it's about to explode higher in the September to October time frame. A convergence of the upper and lower trend lines appears to take place near the end of August. This certainly does not bode well for the markets. An explosion of volatility can only be viewed as conclusively negative for the markets. We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

[chart]

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

This topic has already been written about quite extensively over the past few weeks. As you may or may not be aware, the 50-day moving average crossed under the 200-day on the S&P 500 signaling that the March 2009 to April 2010 bull market might be at an end. When the 50 and 200 days cross in this manner, it suggests that the overall trend has weakened to such a degree that the recent price action is viewed as a topping process for the markets. We saw this exact same bearish cross on the S&P 500 in early January 2008 right at the start of the great bear market. You can read more about the death-cross here, here and here …

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

Arguably one of the biggest warning signs suggesting that the entire 2009 to 2010 advance is just a bear market rally arises from the fact that the move was done on increasingly less volume. The clear lack of conviction indicates that the move was orchestrated by very few market participants. Some have advocated that the 2009 to 2010 rally was performed under the complete control of the federal reserve or by high frequency traders in either a ploy to combat deflation or by fixing the odds of the market to favor the very few. If Goldman Sachs (GS) posting gains every day in Q1 isn’t enough evidence that the game is fixed, I don’t know what is.

Every down move in the market is done on massive volume, and every up move on little to no volume. Each day of the February to April melt-up rally was easy to predict. When volume tanks, the market rises and volume picks up, the market tanks. What kind of no-conviction fraudulent market rallies on zero volume and tanks on heavy volume? Even the July bounce to this correction was done on low volume. Down days in July exhibited huge volume while up days saw declining participation.

This lack of conviction in the equity markets is further evidenced by the disconcertingly significant mutual fund outflows seen over the past year. Tyler Durden notes in an article posted at Zero Hedge last week:

The latest update from ICI is a doozy: in the week ended July 21, domestic equity mutual funds saw a 12th sequential outflow of $1.5 billion. Even as the market has surged 10% in the last three weeks, just under $10 billion have been redeemed from mutual funds, completely invalidating the move and further justifying the skeptics who see absolutely no reflection to reality in the volumeless ramp orchestrated by a few momentum HFTs and a couple of Primary Dealers with some excess leftover Discount Window change. Not to mention that 12 weeks in a row of outflows pretty much marks game over as far as retail participation is concerned in stocks…

[chart]

5. 1,000 POINT FLASH CRASHES

Adding to the concerns of low volume and mutual fund outflows, if 1,000-point inter-day swings in the Dow doesn’t raise a clear red flag to investors that the mechanics of the market is under fire, then clearly nothing can convince the average investor to consider caution in the coming months. Whether the so-called “flash-crash” was the result of some questionable “fat-finger” trade or the result of everyone putting in stop losses at the same level on the S&P (which I warned about 7-minutes prior to the crash see here) is anyone’s guess…

[chart]

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Gold Has Got Its Groove Back How dare any of you second guess the gold bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to a day’s high of $1,186. Our precioussss is back on a tear, maybe.

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

Very Curious Activity in the Gold Bullion Market Leads to Speculation that Banks are Short Tons of Gold Huge gold swaps have recently occurred between the Bank for International Settlements and various banks in Western Europe and the United States. Bankers are attempting to play this up as “business as usual”. However, the gold swaps that have been conducted lately are recording breaking in size, as far from “business as usual” as you can get.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sworn Enemy Of America Kagan Confirmed As Supreme Court Nominee The US Senate has confirmed Elena Kagan’s Supreme Court nomination, making her the third woman on the nine-member court and the fourth in history.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... Michelle Obama 'modern-day Marie Antoinette'...`
`Strolls Marbella after State Dept. 'racist' Spaniards gaffe... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`Dutch become 1st NATO member to quit Afghanistan...`
`GATES: Few U.S. troops to leave in 2011 … Sounds like a … no plan! ... JOINT CHIEFS CHAIRMAN: Defacto bankrupt u.s. has Iran strike plan Riiight! … new war plan the u.s. plan for dealing with failed plans ...`

`Gdp: 2.4%`
`Mediocre Growth...`
`Recession Deeper Than Gov't Previously Thought...`
`Nyt: Employment Outlook Fades...`

`Prince Charles: 'My Duty Is To Save The World' … Well, so much for that. There Goes The World! ...`

`AP: A bleaker outlook for economy into 2011... Rangel faces 13 ethics charges... (wobama) Calls African-Americans a 'mongrel people'...`
`'We are now in the trial phase'... Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...`

`One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e`

`CLAIM: Giant asteroid on course to hit Earth...`

`SEC Says New FinReg Law Exempts It From Public Disclosure...`

`Oprah Hits All-Time Ratings Low- like O -- Again!`

`GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O... Top U.S. officer warns Afghan war will get worse...`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`Developing...` `NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew...`

8-4-10

Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com   has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. As with up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Come on! Preposterous! Service sector? You mean the the b* s* sector. Even if believed (I don’t believe anything they say, and at the least all must be discounted down, as they do later when people have forgotten that’s the purported reason they rallied), what is 17,000 service (predominantly b* s* government bought jobs with non-existent deficit building funds with some exceptions – yes, 80% of america’s economy is now b* s* and as on wall street, fraud) jobs in the relative scheme of things given the magnitude of the problems, structural and otherwise? Nothing! Stocks went up on typically spun ‘nothing’.

YAHOO [BRIEFING.COM]: .A better-than-expected ADP Employment reading and a stronger-than-expected ISM Service Index gave stocks a lift, but caution ahead of other pivotal jobs data limited gains until an afternoon bid lifted the major averages out of their trading ranges to a solid finish. The July ADP Employment Change showed that 42,000 jobs were added to private payrolls last month. Given that the increase was greater than the 25,000 additions that had been widely expected, some hope that the official nonfarm payrolls figures will be stronger than currently forecast when they are released Friday morning. Before that, participants must digest the latest weekly initial jobless claims count, which is due tomorrow morning. While the ADP data gave stocks a positive start this session, gains grew when the July ISM Service Index came in at 54.3, which bested the 53.0 that had been expected. However, gains were dashed when stocks ran into resistance near the stock market's weekly high and rumors surfaced that China's regulators have requested stress tests of their banks. The alleged tests would consider a 60% decline in residential property prices. That prompted some concern about how the possibility of plummeting property prices in China would hurt the global recovery. Though there was no real leadership to speak of, stocks fought off efforts to take them into the red. They then chopped along with modest gains before gradually climbing into the close …’

Japan, the U.S., Bubbles and Deflation

Midnight Trader ‘4:22 PM, Aug 4, 2010 --

NYSE up 35 (+0.4%) to 7,182.14

DJIA up 44 (+0.4%) to 10,680

S&P 500 up 6.78 (+0.6%) to 1,127

Nasdaq up 20 (+0.9%) to 2,304

GLOBAL SENTIMENT

Hang Seng up 0.43%

Nikkei down 2.1%

FTSE down 0.09%

UPSIDE MOVERS

(+) SIRI boosts FY outlook.

(+) BKS exploring possible sale.

(+) ARIA swings to profit.

(+) DGIT beats Q2 estimates.

(+) DNDN misses Q2 estimates but says Provenge sales growing.

(+) FTLK postpones share offering.

(+) XOMA gets orphan drug status for Behcet treatment.

(+) SQNM gets upgrade.

(+) MOT gains as FT says tablet in the works.

(+) XJT sold to SkyWest for $6.75/share.

(+) SOLF upgraded.

(+) GRMN beats with earnings.

DOWNSIDE MOVERS

(-) BP down despite progress with mud fix.

(-) DSCO loss meets Street view.

(-) SMCI misses with earnings.

MARKET DIRECTION

Stock averages extended gains in the last stretch of Wednesday's session, ending up 0.4%-0.9%. Improved economic data and mostly upbeat earnings and guidance helped stocks recovery from Tuesday declines.

Gains followed upbeat reports on private-sector hiring conditions and the services economy though caution persists after Monday's sharp gains and ahead of Friday's Labor Department jobs report. Earnings news was mostly positive.

Oil closes lower but ends above $82 a barrel. The dollar is firmer for the first day in six but remains near a 15-year low against the yen. Gold gains but is shy of the $1,200 mark.

Ahead of the open, ADP said private employers added 42,000 jobs last month, slightly better the forecasts of economists polled by Thomson Reuters.

Meanwhile, the ISM's service sector index, covering the biggest component of the U.S. economy, rose to 54.3 in July from 53.8 in June. That's better than the 53 expected; any reading above 50 indicates growth.

In company news:

Two late-stage studies of an experimental hepatitis C drug from Merck & Co. (MRK) met two main effectiveness goals, according to Reuters. Merck expects to seek approval for boceprevir--a drug gained by Merck through its acquisition of Schering-Plough--by the end of the year, the report said.

Intel Corp. (INTC) reportedly settled with the U.S. Federal Trade Commission in an arrangement where Intel can't retaliate against computer makers who do business with non-Intel suppliers, according to a Wall Street Journal report of the deal. Additionally, Intel can't make benefits to computer makers in exchange for their agreement to only buy chips from Intel.

Motorola (MOT) is up after investor Carl Icahn again raised his stake in the company. Icahn raised his shareholding to 9.99% from 8.75% in May, according to a U.S. regulatory filing dated yesterday. The billionaire investor held 5.15% of MOT at the end of last year.

Shares of HSBC (HBC) are lower on word that American authorities are probing the U.S. division of the bank regarding its compliance with anti-money laundering procedures, Reuters reported, citing a regulatory filing. According to the filing with the U.S. Securities and Exchange Commission, HSBC has reportedly received subpoenas and other requests for information, the report said.

Barnes & Noble (BKS) is higher after it announced it would explore strategic alternatives, including a possible sale. The company's board said it came to this decision based on the price of Barnes & Noble shares in the marketplace, which the board believes are now significantly undervalued.

Pfizer (PFE) reportedly opted to not file an infringement lawsuit against DepoMed (DEPO) over gabapentin, a drug to treat epileptic seizures, according to a Reuters report. While the news is as expected, it removes an overhang from Depomed shares, according to Roth Capital Partners.

ExpressJet Holdings (XJT), parent company of regional and charter airline operator, ExpressJet Airlines, Inc., today announced that it signed a definitive merger agreement with SkyWest, Inc. (SKYW). SkyWest will acquire all of the outstanding common shares of ExpressJet for $6.75 per share in cash, or $133 million, subject to the conditions of the definitive merger agreement.

In earnings news, Internet company AOL (AOL) reported a $9.89 per share loss in Q2 based on a $1.4 billion accounting charge for social networking site Bebo. The company made $0.86 per share a year earlier. AOL says revenue fell 26% to $584.1 million. The Thomson Reuters survey called for $610 million in revenue.

Time Warner (TWX) shares are higher after the company reported a second quarter profit helped by improved advertising and box office sales. Time Warner reported second quarter net income of $562 million, or $0.49 a share, for the three months ended June 30. That was up from $524 million, or $0.43, a year ago. Without one-time items, the company would have made $0.50 a share versus analysts' expectations of $0.45 a share.’

Interest rates will go up quicker than anyone expects, ex-Bank of England officials warn Interest rates will have to rise earlier and more sharply than expected to keep inflation under control, two former Bank of England policy-makers have warned.

Celente: US oligopoly is a big lie August marks the three year anniversary of the beginning of the financial crisis. The collapse continues today, said Gerald Celente of the Trends Research Institute. Celente says that by focusing on the Great Depression, government experts are focused on the past and are neglecting the future. The Great Depression is history, argued Celente, saying it is time to look to the future, not the past.

Commercial real estate maturities will peak in 2012 – $350 billion in loans coming due and hundreds of additional bank failures. Bank lending in the CRE market collapsing The commercial real estate disaster is sinking banks on a weekly basis. Talk of a V-shape recovery is now largely a moot point since we are past the point of a quick and strong recovery.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

USDA Reports Food Shortages: Wall Street ‘Caught Off Guard’ by Severity Activist Post | Several recent headlines indicate that food prices will continue their swift climb upward.

China Tells Banks to Stress Test for 60% Home-Price Drop Bloomberg | China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record. Is this really reason to celebrate? But wait, there's more. The S&P Case-Shiller Composite Home Price Index inched from 144.59 to 146.43 for May, a 1.25% increase. Many are unaware that the Case-Shiller Home Price Index is a three month average and is released with a two month lag. The most recent 3-month average as of May included the period when buyers still received their $8,000 tax credit. As the chart below shows, despite a 80%+ rally in equities, trillions worth of stimulus money, $8,000 home-buyers tax credit, and a lot of hot air, the Case-Shiller Index has only risen 6 points, or 5.15%, from its March 2009 low and remains 30% below its 2006 high. [chart]
Banks' Toxic Assets: It's no secret that the economy started choking because banks gorged on toxic real estate assets. As the real estate related losses piled up, banks got into trouble and started hording their meager funds and lending dried up. Since then, banks have taken free government money and invested it in various Treasuries. Even yields for short and long-term treasuries (NYSEArca: TLT - News) have fallen, and banks have been earning interest without risk, while businesses can't obtain funding. Another income source for banks has been securities trading. But, since stocks have fallen, so have banks' trading revenue, meanwhile banks' real estate portfolios remain unchanged. Unemployment is persistent and foreclosures continue to soar. Thus far, free interest and rising stocks have covered up the losses racked up by banks' portfolios of toxic assets. But the weak link (falling real estate prices) has not been fixed. Once pressure is put on the chain, it will break again. The problems within the financial sector have been visible all along. 106 banks, many of them regional banks (NYSEArca: KRE - News), have failed already in 2010. At the same time last year, only 65 banks failed. An additional 775 banks are on the FDIC's problem bank list. Unlike Wall Street and the financial media, the ETF Profit Strategy Newsletter bothers to take a look under the hood and examine the engines that drive the economy. It's quite obvious that a number of pistons have blown, the engine is sputtering but the car is rolling downhill. Once the next hill comes, the car (aka the economy) will come to a standstill. AAA can't fix blown pistons, neither can the government.
The ETF Profit Strategy Newsletter regularly and consistently monitors and analysis technical, fundamental, sentiment and valuation gauges to formulate detailed short, mid and long-term forecasts, along with a target for the ultimate market bottom. ‘

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse In early January 2008, I had a very troubling conversation with my colleague at Matrix Analytix regarding a significant warning sign suggesting that a major crisis loomed on the horizon of the equity markets that year. The content of our conversation was focused on the implications of a massive one-year head & shoulders on the S&P 500 (SPY). The issue consistently pervaded my mind because if what the equity markets seemed to signal was true, we were probably headed for a major collapse. I remember asking him specifically, “Can this be for real? What are the implications of a head & shoulders of that magnitude completely unwinding?”My colleague all but confirmed my concerns even pointing to a potential culprit for the impending downturn. He had noted that the markets had all but brushed off early warnings of systemic risk and liquidity concerns posed by the potential failure of subprime MBS’s that August, and that such concerns were likely to resurface in 2008. I, for one, didn’t really care what the potential culprit may be. For me, the fact that market technicals suggested that an impending failure was drawing near formed the basis of my concerns.The fact that market participants, investors, and the mainstream media continued to put their heads in the sand and ignore such blatant signs of the broader market was simply unacceptable. At the time, the S&P 500 had rallied nearly 35% over the past 2 years. There was rampant discussion of Dow (DIA) 18,000 as the market continued to “benefit” from the so-called “Goldilocks economy.” Almost everyone was either oblivious to the warning signs of the broader market or simply decided to ignore them.

Turn the page to today, and it’s the same story all over again. While investors, fund managers, and the mainstream financial media debate whether we’re headed for a double-dip recession, they simply continue to disregard the obvious technical damage done on the broader market. Once again, this article is not so much concerned with the potential fundamental reasons or theories advanced as to why the markets might unravel. Instead, I’m more concerned with what the broader market seems to be telling me about the immediate future.

One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander.

Once again, right now I’m focused on what the trading activity in the broader market seems to be telling me rather than on what the fundamentals of the economy or the mechanical structure of the markets indicate. The techncials suggest, as they did in early 2008, that there is something fundamentally wrong with the financial markets and that a collapse, whatever the fundamental reasons may be, is potentially drawing near. There are seven issues I’ll briefly discuss below, and why it's imperative that my readers should explore these issues in more detail.

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ

The biggest warning sign the market seems to be giving us right now is the blatant 10-month head & shoulders formation seen on each of the major indices. Like in 2008, a massive head & shoulders of this magnitude is not something that investors ought to take lightly. Millions chose to ignore this warning sign in 2008 at their peril. I’m not going to sit here and belabor the point as I’ve already written extensively on this topic, which could be found here.Yet, to summarize, a head & shoulders formation is arguably the most bearish technical formation in the books. The time, breadth and size of this head & shoulders is exactly the same as what we saw in early 2008 just before entering the biggest bear market in modern history …

[chart]

2. BULLISH FLAG ON THE VIX?

Almost as important as the head & shoulders on every broad market index and exchange is the huge bullish flag on the VIX, VXN and VXX (VXX). Volatility looks like it's about to explode higher in the September to October time frame. A convergence of the upper and lower trend lines appears to take place near the end of August. This certainly does not bode well for the markets. An explosion of volatility can only be viewed as conclusively negative for the markets. We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

[chart]

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

This topic has already been written about quite extensively over the past few weeks. As you may or may not be aware, the 50-day moving average crossed under the 200-day on the S&P 500 signaling that the March 2009 to April 2010 bull market might be at an end. When the 50 and 200 days cross in this manner, it suggests that the overall trend has weakened to such a degree that the recent price action is viewed as a topping process for the markets. We saw this exact same bearish cross on the S&P 500 in early January 2008 right at the start of the great bear market. You can read more about the death-cross here, here and here …

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

Arguably one of the biggest warning signs suggesting that the entire 2009 to 2010 advance is just a bear market rally arises from the fact that the move was done on increasingly less volume. The clear lack of conviction indicates that the move was orchestrated by very few market participants. Some have advocated that the 2009 to 2010 rally was performed under the complete control of the federal reserve or by high frequency traders in either a ploy to combat deflation or by fixing the odds of the market to favor the very few. If Goldman Sachs (GS) posting gains every day in Q1 isn’t enough evidence that the game is fixed, I don’t know what is.

Every down move in the market is done on massive volume, and every up move on little to no volume. Each day of the February to April melt-up rally was easy to predict. When volume tanks, the market rises and volume picks up, the market tanks. What kind of no-conviction fraudulent market rallies on zero volume and tanks on heavy volume? Even the July bounce to this correction was done on low volume. Down days in July exhibited huge volume while up days saw declining participation.

This lack of conviction in the equity markets is further evidenced by the disconcertingly significant mutual fund outflows seen over the past year. Tyler Durden notes in an article posted at Zero Hedge last week:

The latest update from ICI is a doozy: in the week ended July 21, domestic equity mutual funds saw a 12th sequential outflow of $1.5 billion. Even as the market has surged 10% in the last three weeks, just under $10 billion have been redeemed from mutual funds, completely invalidating the move and further justifying the skeptics who see absolutely no reflection to reality in the volumeless ramp orchestrated by a few momentum HFTs and a couple of Primary Dealers with some excess leftover Discount Window change. Not to mention that 12 weeks in a row of outflows pretty much marks game over as far as retail participation is concerned in stocks…

[chart]

5. 1,000 POINT FLASH CRASHES

Adding to the concerns of low volume and mutual fund outflows, if 1,000-point inter-day swings in the Dow doesn’t raise a clear red flag to investors that the mechanics of the market is under fire, then clearly nothing can convince the average investor to consider caution in the coming months. Whether the so-called “flash-crash” was the result of some questionable “fat-finger” trade or the result of everyone putting in stop losses at the same level on the S&P (which I warned about 7-minutes prior to the crash see here) is anyone’s guess…

[chart]

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Gold Has Got Its Groove Back How dare any of you second guess the gold bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to a day’s high of $1,186. Our precioussss is back on a tear, maybe.

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

Very Curious Activity in the Gold Bullion Market Leads to Speculation that Banks are Short Tons of Gold Huge gold swaps have recently occurred between the Bank for International Settlements and various banks in Western Europe and the United States. Bankers are attempting to play this up as “business as usual”. However, the gold swaps that have been conducted lately are recording breaking in size, as far from “business as usual” as you can get.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

Brain Eating Vaccines: The Reality Behind The “Conspiracy Theory”

New IMF Strategy Document Charts Launch Of “Bancor” Global Currency

Feds admit storing checkpoint body scan images

Obamacare Defeated- Proposition C Passes in Missouri with 70% Support

A New Breed of Genetically Engineered Vaccines Will Take Control of Our DNA and Minds

Intel Experts Warn Obama Israel May Bomb Iran This Month

Prince of Darkness & Delusions of Godlike Status: Prince Charles and His Royal Global Terrorists In another example of what has become the norm from pseudo intellectual inbred royal families, Prince Charles again showed an example of his utter buffoonery and idiocy when he claimed to be on the planet to save us all from ourselves.

Army Suicide Report Ignores Role of Suicide-Inducing Drugs The long awaited Army report, “Health Promotion, Risk Reduction, Suicide Prevention” considers the economy, the stress of nine years of war, family dislocations, repeated moves, repeated deployments, troops’ risk-taking personalities, waived entrance standards and many aspects of Army culture.

The Truth About Fluoride Hits Mainstream Television in Australia The truth about fluoride and its toxicity levels are rarely publicized on the mainstream media. After all, how would the public react if they learned they were being deliberately poisoned by their own governments?

Obama Drops 2009 Pledge to Withdraw Combat Troops from Iraq Seventeen months after President Barack Obama pledged to withdraw all combat brigades from Iraq by Sep. 1, 2010, he quietly abandoned that pledge Monday, admitting implicitly that such combat brigades would remain until the end of 2011.

FBI reading your email? The Obama administration is seeking to make it easier for the FBI to make companies turn over records of individual’s Internet activity without a court order. As long as the agents deem the information relevant to a terrorism or intelligence investigation, it is legal under this potential bill. Many electronic privacy organizations see it as a major violation of privacy and the constitution.

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%... GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...JUDGE KNOCKS DOWN MARRIAGE PROP IN CABLOW TO O: MO SAYS NO`
`Voters overwhelmingly rejected federal mandate to purchase health insurance...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship... Ahmadinejad survives blast near motorcade...`
`'Stupid Zionists have hired mercenaries to assassinate me'...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`Dutch become 1st NATO member to quit Afghanistan...`
`GATES: Few U.S. troops to leave in 2011 … Sounds like a … no plan! ... JOINT CHIEFS CHAIRMAN: Defacto bankrupt u.s. has Iran strike plan Riiight! … new war plan the u.s. plan for dealing with failed plans ...`

`Gdp: 2.4%`
`Mediocre Growth...`
`Recession Deeper Than Gov't Previously Thought...`
`Nyt: Employment Outlook Fades...`

`Prince Charles: 'My Duty Is To Save The World' … Well, so much for that. There Goes The World! ...`

`AP: A bleaker outlook for economy into 2011... Rangel faces 13 ethics charges... (wobama) Calls African-Americans a 'mongrel people'...`
`'We are now in the trial phase'... Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...`

`One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e`

`CLAIM: Giant asteroid on course to hit Earth...`

`SEC Says New FinReg Law Exempts It From Public Disclosure...`

`Oprah Hits All-Time Ratings Low- like O -- Again!`

`GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O... Top U.S. officer warns Afghan war will get worse...`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`Developing...` `NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew...`

8-3-10

Business / Economic / Financial

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
In early April, CNBC asked: 'As job worries ease, will anything stop the stock market?' Investor's Business Daily stated that stocks are 'manufacturing a worldwide recovery.' The Wall Street Journal proclaimed: 'Check real estate; It's time to delve in.' Everyone wanted to take credit for the recovery and 'Bernanke says Fed helped stem 2008 panic' (Bloomberg). The Wall Street Journal observed that 'The bailouts are looking much less pricey.' According to conventional Wall Street wisdom, the bear market was dead. A revival of the bear was less likely than a Foreman comeback. Contrary to popular belief, the ETF Profit Strategy Newsletter noted two days after the market top: 'The potential exists that Monday's high - which was only one point short of the 61.8% Fibonacci retracement at 1,220 - marked a significant market top.' While Wall Street had to warm up to that idea, the bear roared back and erased eight months worth of gains within 22 trading days. The decline was led by banks (NYSEArca: KBE - News), financials (NYSEArca: VFH - News), materials (NYSEArca: XLB - News), small caps (NYSEArca: IWM - News), mid caps (NYSEArca: MDY - News), real estate (NYSEArca: IYR - News) and consumer discretionary (NYSEArca: XLY - News) which tumbled between 20 and 25%. With the S&P close to 1,000 and the Dow below 10,000, the opinion that a double dip was close became the popular opinion and double dip headlines popped up everywhere.
Double Dippers Silenced
On Labor Day, when the S&P futures dipped to 1,003, the ETF Profit Strategy Newsletter noted that, 'considering that the S&P is butting against the 100-week SMA, lower accelerations band, 38.2% Fibonacci retracement levels, round number resistance at 1,000, and weekly s1 at 994, there is a good chance we will see some sort of a bounce develop from the 990 - 1,015 area.' Have you noticed how the rally from the early July lows has silenced the double dippers? In fact, Morgan Stanley just told us 'fear cheap money, not double dip.' What's the purpose of dwelling on the past? If this were a court case, you would try to examine someone's character. Someone who tends to tell the truth is viewed as being truthful and those who do not, vice versa. No doubt, Wall Street and the financial media haven't built a track record of sound financial advice. Trust them at your own peril.
Looking Ahead
There is no sense in dwelling on past mistakes. Let's take a look ahead. A chain is only as strong as its weakest link. It makes sense, therefore, to examine the weakest link. The post 2007 bear market chain reaction started with banks, financials and real estate - the weakest link. How strong are those sectors now?Real estate prices: The market recently rallied on better than expected new home sales. Reportedly, June's sales came in at 330,000 units annualized, which was 20,000 higher than expected. At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record. Is this really reason to celebrate? But wait, there's more. The S&P Case-Shiller Composite Home Price Index inched from 144.59 to 146.43 for May, a 1.25% increase. Many are unaware that the Case-Shiller Home Price Index is a three month average and is released with a two month lag. The most recent 3-month average as of May included the period when buyers still received their $8,000 tax credit. As the chart below shows, despite a 80%+ rally in equities, trillions worth of stimulus money, $8,000 home-buyers tax credit, and a lot of hot air, the Case-Shiller Index has only risen 6 points, or 5.15%, from its March 2009 low and remains 30% below its 2006 high. [chart]
Banks' Toxic Assets: It's no secret that the economy started choking because banks gorged on toxic real estate assets. As the real estate related losses piled up, banks got into trouble and started hording their meager funds and lending dried up. Since then, banks have taken free government money and invested it in various Treasuries. Even yields for short and long-term treasuries (NYSEArca: TLT - News) have fallen, and banks have been earning interest without risk, while businesses can't obtain funding. Another income source for banks has been securities trading. But, since stocks have fallen, so have banks' trading revenue, meanwhile banks' real estate portfolios remain unchanged. Unemployment is persistent and foreclosures continue to soar. Thus far, free interest and rising stocks have covered up the losses racked up by banks' portfolios of toxic assets. But the weak link (falling real estate prices) has not been fixed. Once pressure is put on the chain, it will break again. The problems within the financial sector have been visible all along. 106 banks, many of them regional banks (NYSEArca: KRE - News), have failed already in 2010. At the same time last year, only 65 banks failed. An additional 775 banks are on the FDIC's problem bank list. Unlike Wall Street and the financial media, the ETF Profit Strategy Newsletter bothers to take a look under the hood and examine the engines that drive the economy. It's quite obvious that a number of pistons have blown, the engine is sputtering but the car is rolling downhill. Once the next hill comes, the car (aka the economy) will come to a standstill. AAA can't fix blown pistons, neither can the government.
The ETF Profit Strategy Newsletter regularly and consistently monitors and analysis technical, fundamental, sentiment and valuation gauges to formulate detailed short, mid and long-term forecasts, along with a target for the ultimate market bottom. ‘

Running Out of Gas: Dave's Daily ‘Earnings today from Dow Chemical (DOW) and Procter & Gamble (PG) disappointed while Pfizer (PFE) delivered a good report. Most economic data, Pending Home Sales, Factory Orders and Personal Income/Spending were anemic reflecting an ongoing economic slowdown. Key action still remains in higher commodity markets (energy in particular) stimulated by a still weakening dollar and the enigma (low yields) of bonds Volume remains pathetically light revealing only a few trading desks, HFTs and hedge funds as involved. Breadth was negative which should bring out the dip buyers as the $NYMO eases back from short-term overbought … ‘

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

In devising punishments, SEC faced with competing interests (Washington Post) The best punishment and the greatest deterrent is to assure that the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed; that is, to forfeit what they stole by fraudulent means (remember, the bad paper is still out there but I believe slowly but surely and very selectively being supplanted by hard, albeit fiat currency) at the least. The cost to the treasury / taxpayer has been enormous and hence, the resistance to transparency / audit. The wall street perps should pay, and as yet, they haven’t.

Tiny Tim geithner to bankers: Fear not new rules (Washington Post) They don’t! … And, you can take that to the insolvent, mark to anything bank! God bless us everyone! … And tiny tim, where’s that missing 4 trillion at the new york fed? Have the taxpayers, through more surreptitious skullduggery effectively picked up that tab too?

Bernanke: Long road back to economic health (Washington Post) No-recession helicopter ben, waxing philosophical while strumming a few lines from the Beatle’s ‘Long and Winding Road’ with great emotion that makes us feel for that poor sot … or snot … or NOT!

Stocks surge on soothing reports (Washington Post)    July manufacturing slows, but remains positive (Washington Post) Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse In early January 2008, I had a very troubling conversation with my colleague at Matrix Analytix regarding a significant warning sign suggesting that a major crisis loomed on the horizon of the equity markets that year. The content of our conversation was focused on the implications of a massive one-year head & shoulders on the S&P 500 (SPY). The issue consistently pervaded my mind because if what the equity markets seemed to signal was true, we were probably headed for a major collapse. I remember asking him specifically, “Can this be for real? What are the implications of a head & shoulders of that magnitude completely unwinding?”My colleague all but confirmed my concerns even pointing to a potential culprit for the impending downturn. He had noted that the markets had all but brushed off early warnings of systemic risk and liquidity concerns posed by the potential failure of subprime MBS’s that August, and that such concerns were likely to resurface in 2008. I, for one, didn’t really care what the potential culprit may be. For me, the fact that market technicals suggested that an impending failure was drawing near formed the basis of my concerns.The fact that market participants, investors, and the mainstream media continued to put their heads in the sand and ignore such blatant signs of the broader market was simply unacceptable. At the time, the S&P 500 had rallied nearly 35% over the past 2 years. There was rampant discussion of Dow (DIA) 18,000 as the market continued to “benefit” from the so-called “Goldilocks economy.” Almost everyone was either oblivious to the warning signs of the broader market or simply decided to ignore them.

Turn the page to today, and it’s the same story all over again. While investors, fund managers, and the mainstream financial media debate whether we’re headed for a double-dip recession, they simply continue to disregard the obvious technical damage done on the broader market. Once again, this article is not so much concerned with the potential fundamental reasons or theories advanced as to why the markets might unravel. Instead, I’m more concerned with what the broader market seems to be telling me about the immediate future.

One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander.

Once again, right now I’m focused on what the trading activity in the broader market seems to be telling me rather than on what the fundamentals of the economy or the mechanical structure of the markets indicate. The techncials suggest, as they did in early 2008, that there is something fundamentally wrong with the financial markets and that a collapse, whatever the fundamental reasons may be, is potentially drawing near. There are seven issues I’ll briefly discuss below, and why it's imperative that my readers should explore these issues in more detail.

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ

The biggest warning sign the market seems to be giving us right now is the blatant 10-month head & shoulders formation seen on each of the major indices. Like in 2008, a massive head & shoulders of this magnitude is not something that investors ought to take lightly. Millions chose to ignore this warning sign in 2008 at their peril. I’m not going to sit here and belabor the point as I’ve already written extensively on this topic, which could be found here.Yet, to summarize, a head & shoulders formation is arguably the most bearish technical formation in the books. The time, breadth and size of this head & shoulders is exactly the same as what we saw in early 2008 just before entering the biggest bear market in modern history …

[chart]

2. BULLISH FLAG ON THE VIX?

Almost as important as the head & shoulders on every broad market index and exchange is the huge bullish flag on the VIX, VXN and VXX (VXX). Volatility looks like it's about to explode higher in the September to October time frame. A convergence of the upper and lower trend lines appears to take place near the end of August. This certainly does not bode well for the markets. An explosion of volatility can only be viewed as conclusively negative for the markets. We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

[chart]

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

This topic has already been written about quite extensively over the past few weeks. As you may or may not be aware, the 50-day moving average crossed under the 200-day on the S&P 500 signaling that the March 2009 to April 2010 bull market might be at an end. When the 50 and 200 days cross in this manner, it suggests that the overall trend has weakened to such a degree that the recent price action is viewed as a topping process for the markets. We saw this exact same bearish cross on the S&P 500 in early January 2008 right at the start of the great bear market. You can read more about the death-cross here, here and here …

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

Arguably one of the biggest warning signs suggesting that the entire 2009 to 2010 advance is just a bear market rally arises from the fact that the move was done on increasingly less volume. The clear lack of conviction indicates that the move was orchestrated by very few market participants. Some have advocated that the 2009 to 2010 rally was performed under the complete control of the federal reserve or by high frequency traders in either a ploy to combat deflation or by fixing the odds of the market to favor the very few. If Goldman Sachs (GS) posting gains every day in Q1 isn’t enough evidence that the game is fixed, I don’t know what is.

Every down move in the market is done on massive volume, and every up move on little to no volume. Each day of the February to April melt-up rally was easy to predict. When volume tanks, the market rises and volume picks up, the market tanks. What kind of no-conviction fraudulent market rallies on zero volume and tanks on heavy volume? Even the July bounce to this correction was done on low volume. Down days in July exhibited huge volume while up days saw declining participation.

This lack of conviction in the equity markets is further evidenced by the disconcertingly significant mutual fund outflows seen over the past year. Tyler Durden notes in an article posted at Zero Hedge last week:

The latest update from ICI is a doozy: in the week ended July 21, domestic equity mutual funds saw a 12th sequential outflow of $1.5 billion. Even as the market has surged 10% in the last three weeks, just under $10 billion have been redeemed from mutual funds, completely invalidating the move and further justifying the skeptics who see absolutely no reflection to reality in the volumeless ramp orchestrated by a few momentum HFTs and a couple of Primary Dealers with some excess leftover Discount Window change. Not to mention that 12 weeks in a row of outflows pretty much marks game over as far as retail participation is concerned in stocks…

[chart]

5. 1,000 POINT FLASH CRASHES

Adding to the concerns of low volume and mutual fund outflows, if 1,000-point inter-day swings in the Dow doesn’t raise a clear red flag to investors that the mechanics of the market is under fire, then clearly nothing can convince the average investor to consider caution in the coming months. Whether the so-called “flash-crash” was the result of some questionable “fat-finger” trade or the result of everyone putting in stop losses at the same level on the S&P (which I warned about 7-minutes prior to the crash see here) is anyone’s guess…

[chart]

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Gold Has Got Its Groove Back How dare any of you second guess the gold bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to a day’s high of $1,186. Our precioussss is back on a tear, maybe.

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

Very Curious Activity in the Gold Bullion Market Leads to Speculation that Banks are Short Tons of Gold Huge gold swaps have recently occurred between the Bank for International Settlements and various banks in Western Europe and the United States. Bankers are attempting to play this up as “business as usual”. However, the gold swaps that have been conducted lately are recording breaking in size, as far from “business as usual” as you can get.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

Feds raid Amish dairy and threaten action over raw milk sales Natural News | The U.S. government gestapo is at it again in its crusade against raw milk.

Establishment Media Pushes Brain Eating Vaccines The establishment media and the scientific dictatorship are promoting brain-eating vaccines that virtually lobotomize people and rewire their brains into a state of subservient compliance so that their natural instinct to get angry and rebel against the tyranny being imposed upon them is neutered and sterilized.

Scientific Study Finds 40% Of All Store Receipts Covered In Dangerous Hormone-Disrupting Chemical A scientific study has found that receipts from ATM’s, grocery stores, fast food restaurants and gas stations contain massive amounts of bisphenol A (BPA), the harmful chemical that is known to cause fertility problems and cancer.

Germany gave assassination list to secret US unit The German government supplied a secret Pentagon task force with names of Taliban leaders that the US then could target for assassination, documents show.

Andy of Mayberry Shills for Obamacare Kurt Nimmo | In the Brave New World envisioned by the globalists, there is no place for the concept of retirement and no room for millions of retirees who were sold a bill of goods only to have it vanish.

The Mandatory Serviece Bill and the Impending Attack On Iran Kurt Nimmo | Rangel’s bill may never make it out of committee. The attack on Iran, however, is all but a foregone conclusion.

Oxford professor calls for drugging water supply Aaron Dykes | Oxford professor Julian Savulescu says fluoridation demonstrates how populations of the future could be mass-medicated through pharmacological ‘cognitive enhancements’ added to the water supply.

America: It’s Time To Stand Up And Scream “We Want New Leadership” Where is Howard Beale when we need him? Two years into the Greatest Recession Since the Great Depression (GRSGD) and our financial leaders are still telling us that we need to be patient while waiting for our economic recovery.

Iran warns Israel against waging war Iran’s foreign minister has warned the Zionist regime of Israel and its allies against waging a war in the Middle East, saying any possible war in the region will not be ‘limited.’

U.S. to strengthen sanctions against N. Korea amid concerns of Chinese influence The chief U.S. official in charge of nonproliferation outlined a plan Monday to penalize North Korea by choking off the international network of front companies and banks that largely fund its nuclear weapons program and the lifestyles of its elite. Sounds like the american economy / military industrial complex today and a case of ‘the pot calling the kettle black’..

Mullen: US has viable Iran attack plan The United States has a viable military plan to attack Iran and its nuclear facilities, Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, said on Sunday, stressing, though, that such a strike was probably a bad idea. Ooooh! Sounds like a plan … the Iraq, Afghanistan type of plan … bad plan.

liz cheney calls on Obama to shut down WikiLeaks Following the release of 92,000 war log files, Liz Cheney is calling for WikiLeaks to be shut down and says that the founder has “blood on his hands.” What? The founder of her family, Mr. ‘dead man walking’ cheney has loads of blood on his hands … drenched, in point of fact … that’s true. She’s totally mentally unbalanced broaching a subject for which her father, dumbya bush, and wobama are guilty in spades.

Top 2 Google Searches on “Food: The Ultimate Secret Exposed” Once again, the power of alternative media has prevailed over the whitewash of corporate media’s obsession with celebrity drama and unimportant sports discussion.

Food: The Ultimate Secret Exposed Addendum – Chemical BPA Linked to Medical Problems A new study appearing in the Journal of the American Medical Association found that higher levels of the chemical bisphenol A (BPA) in people’s urine were associated with cardiovascular disease, diabetes, and liver problems.

Food: The Ultimate Secret Exposed In a special video, Alex Jones addresses one of the darkest modes of power the globalists have used to control the population– food. The adulteration of the planet’s staple crops, genetically-altered species and intentionally-altered water, food and air all amount to a Eugenics operation to weaken the masses and achieve full spectrum domination.

Plan to Aid 9/11 Victims Is Rejected in House House Republicans on Thursday blocked a Democratic plan to provide billions of dollars for medical treatment to rescue workers and residents of New York City who suffered illnesses from the toxic dust and debris at ground zero.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

FBI reading your email? The Obama administration is seeking to make it easier for the FBI to make companies turn over records of individual’s Internet activity without a court order. As long as the agents deem the information relevant to a terrorism or intelligence investigation, it is legal under this potential bill. Many electronic privacy organizations see it as a major violation of privacy and the constitution.

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Pharmaceutical drug contamination of waterways threatens life on our planet Mike Adams | If we keep poisoning the planet at this rate, there won’t be much left to offer future generations except a toxic stew of patent-protected chemicals

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Democrat leaders have finally realised that anti-establishment sentiment is the driving force behind the Tea Party movement, announcing a plan to demonize it via a national campaign to associate the GOP and the Tea Party as one and the same.

Judge Blocks Key Parts of Immigration Law in Arizona A federal judge, ruling on a clash between the federal government and a state over immigration policy, has blocked the most controversial parts of Arizona’s immigration enforcement law from going into effect.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Steve Watson | Misguided attempt to portray libertarian ideology as fringe politics.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%...`

`Americans swap passports; Desire to avoid tax leads some to renounce citizenship...`

`FALTERING RECOVERY TRIPS DOLLAR...`

`GM, FORD and CHRYSLER Sales All Lag Estimates...`

`Stimulus Slammed: Republican Senators Release Report Alleging Waste...`
`The 100 worst stimulus projects...`

`SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`Dutch become 1st NATO member to quit Afghanistan...`
`GATES: Few U.S. troops to leave in 2011 … Sounds like a … no plan! ... JOINT CHIEFS CHAIRMAN: Defacto bankrupt u.s. has Iran strike plan Riiight! … new war plan the u.s. plan for dealing with failed plans ...`

`Gdp: 2.4%`
`Mediocre Growth...`
`Recession Deeper Than Gov't Previously Thought...`
`Nyt: Employment Outlook Fades...`

`Prince Charles: 'My Duty Is To Save The World' … Well, so much for that. There Goes The World! ...`

`AP: A bleaker outlook for economy into 2011... Rangel faces 13 ethics charges... (wobama) Calls African-Americans a 'mongrel people'...`
`'We are now in the trial phase'... Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...`

`One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e`

`CLAIM: Giant asteroid on course to hit Earth...`

`SEC Says New FinReg Law Exempts It From Public Disclosure...`

`Oprah Hits All-Time Ratings Low- like O -- Again!`

`GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O... Top U.S. officer warns Afghan war will get worse...`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`Developing...` `NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew...`

8-2-10

Business / Economic / Financial


Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse In early January 2008, I had a very troubling conversation with my colleague at Matrix Analytix regarding a significant warning sign suggesting that a major crisis loomed on the horizon of the equity markets that year. The content of our conversation was focused on the implications of a massive one-year head & shoulders on the S&P 500 (SPY). The issue consistently pervaded my mind because if what the equity markets seemed to signal was true, we were probably headed for a major collapse. I remember asking him specifically, “Can this be for real? What are the implications of a head & shoulders of that magnitude completely unwinding?”My colleague all but confirmed my concerns even pointing to a potential culprit for the impending downturn. He had noted that the markets had all but brushed off early warnings of systemic risk and liquidity concerns posed by the potential failure of subprime MBS’s that August, and that such concerns were likely to resurface in 2008. I, for one, didn’t really care what the potential culprit may be. For me, the fact that market technicals suggested that an impending failure was drawing near formed the basis of my concerns.The fact that market participants, investors, and the mainstream media continued to put their heads in the sand and ignore such blatant signs of the broader market was simply unacceptable. At the time, the S&P 500 had rallied nearly 35% over the past 2 years. There was rampant discussion of Dow (DIA) 18,000 as the market continued to “benefit” from the so-called “Goldilocks economy.” Almost everyone was either oblivious to the warning signs of the broader market or simply decided to ignore them.

Turn the page to today, and it’s the same story all over again. While investors, fund managers, and the mainstream financial media debate whether we’re headed for a double-dip recession, they simply continue to disregard the obvious technical damage done on the broader market. Once again, this article is not so much concerned with the potential fundamental reasons or theories advanced as to why the markets might unravel. Instead, I’m more concerned with what the broader market seems to be telling me about the immediate future.

One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander.

Once again, right now I’m focused on what the trading activity in the broader market seems to be telling me rather than on what the fundamentals of the economy or the mechanical structure of the markets indicate. The techncials suggest, as they did in early 2008, that there is something fundamentally wrong with the financial markets and that a collapse, whatever the fundamental reasons may be, is potentially drawing near. There are seven issues I’ll briefly discuss below, and why it's imperative that my readers should explore these issues in more detail.

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ

The biggest warning sign the market seems to be giving us right now is the blatant 10-month head & shoulders formation seen on each of the major indices. Like in 2008, a massive head & shoulders of this magnitude is not something that investors ought to take lightly. Millions chose to ignore this warning sign in 2008 at their peril. I’m not going to sit here and belabor the point as I’ve already written extensively on this topic, which could be found here.Yet, to summarize, a head & shoulders formation is arguably the most bearish technical formation in the books. The time, breadth and size of this head & shoulders is exactly the same as what we saw in early 2008 just before entering the biggest bear market in modern history …

[chart]

2. BULLISH FLAG ON THE VIX?

Almost as important as the head & shoulders on every broad market index and exchange is the huge bullish flag on the VIX, VXN and VXX (VXX). Volatility looks like it's about to explode higher in the September to October time frame. A convergence of the upper and lower trend lines appears to take place near the end of August. This certainly does not bode well for the markets. An explosion of volatility can only be viewed as conclusively negative for the markets. We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

[chart]

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

This topic has already been written about quite extensively over the past few weeks. As you may or may not be aware, the 50-day moving average crossed under the 200-day on the S&P 500 signaling that the March 2009 to April 2010 bull market might be at an end. When the 50 and 200 days cross in this manner, it suggests that the overall trend has weakened to such a degree that the recent price action is viewed as a topping process for the markets. We saw this exact same bearish cross on the S&P 500 in early January 2008 right at the start of the great bear market. You can read more about the death-cross here, here and here …

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

Arguably one of the biggest warning signs suggesting that the entire 2009 to 2010 advance is just a bear market rally arises from the fact that the move was done on increasingly less volume. The clear lack of conviction indicates that the move was orchestrated by very few market participants. Some have advocated that the 2009 to 2010 rally was performed under the complete control of the federal reserve or by high frequency traders in either a ploy to combat deflation or by fixing the odds of the market to favor the very few. If Goldman Sachs (GS) posting gains every day in Q1 isn’t enough evidence that the game is fixed, I don’t know what is.

Every down move in the market is done on massive volume, and every up move on little to no volume. Each day of the February to April melt-up rally was easy to predict. When volume tanks, the market rises and volume picks up, the market tanks. What kind of no-conviction fraudulent market rallies on zero volume and tanks on heavy volume? Even the July bounce to this correction was done on low volume. Down days in July exhibited huge volume while up days saw declining participation.

This lack of conviction in the equity markets is further evidenced by the disconcertingly significant mutual fund outflows seen over the past year. Tyler Durden notes in an article posted at Zero Hedge last week:

The latest update from ICI is a doozy: in the week ended July 21, domestic equity mutual funds saw a 12th sequential outflow of $1.5 billion. Even as the market has surged 10% in the last three weeks, just under $10 billion have been redeemed from mutual funds, completely invalidating the move and further justifying the skeptics who see absolutely no reflection to reality in the volumeless ramp orchestrated by a few momentum HFTs and a couple of Primary Dealers with some excess leftover Discount Window change. Not to mention that 12 weeks in a row of outflows pretty much marks game over as far as retail participation is concerned in stocks…

[chart]

5. 1,000 POINT FLASH CRASHES

Adding to the concerns of low volume and mutual fund outflows, if 1,000-point inter-day swings in the Dow doesn’t raise a clear red flag to investors that the mechanics of the market is under fire, then clearly nothing can convince the average investor to consider caution in the coming months. Whether the so-called “flash-crash” was the result of some questionable “fat-finger” trade or the result of everyone putting in stop losses at the same level on the S&P (which I warned about 7-minutes prior to the crash see here) is anyone’s guess…

[chart]

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

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

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Gold Has Got Its Groove Back How dare any of you second guess the gold bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to a day’s high of $1,186. Our precioussss is back on a tear, maybe.

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total bs!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

Very Curious Activity in the Gold Bullion Market Leads to Speculation that Banks are Short Tons of Gold Huge gold swaps have recently occurred between the Bank for International Settlements and various banks in Western Europe and the United States. Bankers are attempting to play this up as “business as usual”. However, the gold swaps that have been conducted lately are recording breaking in size, as far from “business as usual” as you can get.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E; and, that’s all they are, projections. Beyond that, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning computerized speed commissions like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Andy of Mayberry Shills for Obamacare Kurt Nimmo | In the Brave New World envisioned by the globalists, there is no place for the concept of retirement and no room for millions of retirees who were sold a bill of goods only to have it vanish.

The Mandatory Serviece Bill and the Impending Attack On Iran Kurt Nimmo | Rangel’s bill may never make it out of committee. The attack on Iran, however, is all but a foregone conclusion.

Oxford professor calls for drugging water supply Aaron Dykes | Oxford professor Julian Savulescu says fluoridation demonstrates how populations of the future could be mass-medicated through pharmacological ‘cognitive enhancements’ added to the water supply.

America: It’s Time To Stand Up And Scream “We Want New Leadership” Where is Howard Beale when we need him? Two years into the Greatest Recession Since the Great Depression (GRSGD) and our financial leaders are still telling us that we need to be patient while waiting for our economic recovery.

Iran warns Israel against waging war Iran’s foreign minister has warned the Zionist regime of Israel and its allies against waging a war in the Middle East, saying any possible war in the region will not be ‘limited.’

U.S. to strengthen sanctions against N. Korea amid concerns of Chinese influence The chief U.S. official in charge of nonproliferation outlined a plan Monday to penalize North Korea by choking off the international network of front companies and banks that largely fund its nuclear weapons program and the lifestyles of its elite. Sounds like the american economy / military industrial complex today and a case of ‘the pot calling the kettle black’..

Mullen: US has viable Iran attack plan The United States has a viable military plan to attack Iran and its nuclear facilities, Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, said on Sunday, stressing, though, that such a strike was probably a bad idea. Ooooh! Sounds like a plan … the Iraq, Afghanistan type of plan … bad plan.

liz cheney calls on Obama to shut down WikiLeaks Following the release of 92,000 war log files, Liz Cheney is calling for WikiLeaks to be shut down and says that the founder has “blood on his hands.” What? The founder of her family, Mr. ‘dead man walking’ cheney has loads of blood on his hands … drenched, in point of fact … that’s true. She’s totally mentally unbalanced broaching a subject for which her father, dumbya bush, and wobama are guilty in spades.

Top 2 Google Searches on “Food: The Ultimate Secret Exposed” Once again, the power of alternative media has prevailed over the whitewash of corporate media’s obsession with celebrity drama and unimportant sports discussion.

Food: The Ultimate Secret Exposed Addendum – Chemical BPA Linked to Medical Problems A new study appearing in the Journal of the American Medical Association found that higher levels of the chemical bisphenol A (BPA) in people’s urine were associated with cardiovascular disease, diabetes, and liver problems.

Food: The Ultimate Secret Exposed In a special video, Alex Jones addresses one of the darkest modes of power the globalists have used to control the population– food. The adulteration of the planet’s staple crops, genetically-altered species and intentionally-altered water, food and air all amount to a Eugenics operation to weaken the masses and achieve full spectrum domination.

Plan to Aid 9/11 Victims Is Rejected in House House Republicans on Thursday blocked a Democratic plan to provide billions of dollars for medical treatment to rescue workers and residents of New York City who suffered illnesses from the toxic dust and debris at ground zero.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

FBI reading your email? The Obama administration is seeking to make it easier for the FBI to make companies turn over records of individual’s Internet activity without a court order. As long as the agents deem the information relevant to a terrorism or intelligence investigation, it is legal under this potential bill. Many electronic privacy organizations see it as a major violation of privacy and the constitution.

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Pharmaceutical drug contamination of waterways threatens life on our planet Mike Adams | If we keep poisoning the planet at this rate, there won’t be much left to offer future generations except a toxic stew of patent-protected chemicals

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Democrat leaders have finally realised that anti-establishment sentiment is the driving force behind the Tea Party movement, announcing a plan to demonize it via a national campaign to associate the GOP and the Tea Party as one and the same.

Judge Blocks Key Parts of Immigration Law in Arizona A federal judge, ruling on a clash between the federal government and a state over immigration policy, has blocked the most controversial parts of Arizona’s immigration enforcement law from going into effect.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Steve Watson | Misguided attempt to portray libertarian ideology as fringe politics.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Maxine Waters faces trial over bank bailout funds...`

`HOT WATERS`
`Dems Say Sorry, Charlie...`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`

`Dutch become 1st NATO member to quit Afghanistan...`
`GATES: Few U.S. troops to leave in 2011 … Sounds like a … no plan! ... JOINT CHIEFS CHAIRMAN: Defacto bankrupt u.s. has Iran strike plan Riiight! … new war plan the u.s. plan for dealing with failed plans ...`

`Gdp: 2.4%`
`Mediocre Growth...`
`Recession Deeper Than Gov't Previously Thought...`
`Nyt: Employment Outlook Fades...`

`Prince Charles: 'My Duty Is To Save The World' … Well, so much for that. There Goes The World! ...`

`AP: A bleaker outlook for economy into 2011... Rangel faces 13 ethics charges... (wobama) Calls African-Americans a 'mongrel people'...`
`'We are now in the trial phase'... Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...`

`One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e`

`CLAIM: Giant asteroid on course to hit Earth...`

`SEC Says New FinReg Law Exempts It From Public Disclosure...`

`Oprah Hits All-Time Ratings Low- like O -- Again!`

`GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O... Top U.S. officer warns Afghan war will get worse...`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`Developing...` `NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew...`

7-30-10

Business / Economic / Financial

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate, the economy (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement / EPS, balance sheet, and applying an appropriate P/E multiple (multi-faceted, too detailed for this); and, that’s all they are, projections. Beyond that time frame … your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning computerized speed commissions like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move. Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Midnight Trader ‘4:04 PM, Jul 30, 2010 --

·                     DJIA down 1.22 (-0.01%) to 10,465.95

·                     S&P 500 up 0.07 (+0.01%) to 1,101.60

·                     Nasdaq up 3.01 (+0.13%) to 2,254.70

GLOBAL SENTIMENT

·                     Hang Seng down 0.3%

·                     Nikkei down 1.64%

·                     FTSE down 1.05%

UPSIDE MOVERS
(+ ALU reports loss but outlook upbeat.
(+) BIDU gains in wake of reports GOOG still facing China market
troubles.
(+) PWER continues evening gain that followed aggressive earnings
beat.
(+) MCBC swings to Q2 profit.
(+) OREX reports positive study results.
(+) ACI beats Q2 earnings estimates.
(+) FO quarterly profit more than doubles.
(+) TRID beats with Q2 and guides for Q3 sales in line to above
Street view.

DOWNSIDE MOVERS
(-) CSTR missed revenue estimates.
(-) FSLR down despite raised guidance.
(-) TNAV downgraded.

MARKET DIRECTION
Stocks teetered near even late in regular session trade, eventually closing mixed as traders were tugged in both directions by a mixed bag of earnings reports and a basket of economic data that suggested U.S. economic growth slowed in the second quarter and consumers grew more pessimistic. New data released Friday morning showed real gross domestic product, the broadest read on all goods and services produced in the United States -- rose at a 2.4% annualized rate in Q2. That's slightly less than the 2.5% expected and well below the average 4.4% increase over the last six months. Q1 growth was revised up to a 3.7% rise compared with the prior estimate of a 2.7% increase. Also, the University of Michigan showed consumer sentiment fell in late July to 67.8 from 76 in late June, MarketWatch reported. Next week, earnings season marches forward as yet another wave of companies post financials. On Monday, Texas Roadhouse (TXRH) and VeriSign (VRSN) are due with numbers, followed by CBS Corp. (CBS), Electronic Arts (ERTS), MasterCard (MA), Pfizer (PFE) and Priceline.com (PCLN) on Tuesday. On Wednesday, traders will get a glimpse at results from News Corp. (NWS), Qwest Communications (Q), and Time Warner (TWX). Activision (ATVI), Barclays (BCS) and Weight Watchers (WTW) deliver quarterly reports on Thursday, followed by Washington Post (WPO) on Friday. On the economic front, construction spending and the ISM Index are slated for release on Monday, followed by personal income/spending, PCE prices, factory orders and auto and truck sales on Tuesday. ADP employment change, ISM services and crude inventories will be distributed Wednesday, with continuing claims and initial claims following on Thursday. Closing out the week will be the unemployment rate, payrolls data and consumer credit on Friday. Elsewhere in today's market, Merck (MRK) was lower after it reported Q2 EPS of $0.86 per share, three cents better than the analyst mean on Thomson Reuters. Sales were $11.3 bln, in line to just below Street estimates of $11.45 bln. For 2010, the company is guiding for EPS of $3.29 to $3.39 per share. The Street is at $3.37 per share.
Also, Chevron (CVX) said it earned $2.70 per share in Q2, above the Thomson Reuters mean for $2.44. Revenue rose to $53 billion. Energy companies have benefited from boosted demand for oil and products such as gasoline and diesel fuel as the global economy emerges from the recession. Aon Corp. (AON) said it beat profit expectations thanks to recent acquisitions that helped to offset a drop in comissions, according to a Reuters report. Second-quarter net income was $153 million, or $0.63 a share, compared with $149 million, or 50 cents a share, in the year-ago period. Excluding items, the company made $0.81 a share. Analysts had expected the company to earn $0.75 a share. Coinstar Inc (CSTR) slumped as the the operator of the Redbox rental DVD kiosks lowered its revenue projection for the current fiscal year. The company posted second quarter earnings of $13.4 million, or 41 cents a share, from $7 million, or 23 cents a share, a year ago. Revenue rose 35% to $342.4 million. Other stocks gaining on earnings included: Expedia (EXPE), Power-One (PWER) and McAfee (MFE). Earnings-driven decliners included: NutriSystem (NTRI), Genworth Financial (GNW) and First Solar (FSLR). Commodities were mostly higher as gold and crude oil futures logged gains for the session. Crude-oil for September delivery closed up $0.59, or 0.8% at $78.95 a barrel on the New York Mercantile Exchange. In other energy futures, heating oil was up $0.01 to $2.05 a gallon while natural gas rose $0.08, to $4.91 per million British thermal units. Meanwhile, gold futures climbed amid a generally lackluster trading session. Gold for December delivery closed up 1.1% to $1,183.90 an ounce. In other metal futures, silver rose 2.2% to $18 a troy ounce while copper rose $0.02 to $3.31 a pound.’

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman*:

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Food: The Ultimate Secret Exposed In a special video, Alex Jones addresses one of the darkest modes of power the globalists have used to control the population– food. The adulteration of the planet’s staple crops, genetically-altered species and intentionally-altered water, food and air all amount to a Eugenics operation to weaken the masses and achieve full spectrum domination.

Plan to Aid 9/11 Victims Is Rejected in House House Republicans on Thursday blocked a Democratic plan to provide billions of dollars for medical treatment to rescue workers and residents of New York City who suffered illnesses from the toxic dust and debris at ground zero.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Pharmaceutical drug contamination of waterways threatens life on our planet Mike Adams | If we keep poisoning the planet at this rate, there won’t be much left to offer future generations except a toxic stew of patent-protected chemicals

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Democrat leaders have finally realised that anti-establishment sentiment is the driving force behind the Tea Party movement, announcing a plan to demonize it via a national campaign to associate the GOP and the Tea Party as one and the same.

Judge Blocks Key Parts of Immigration Law in Arizona A federal judge, ruling on a clash between the federal government and a state over immigration policy, has blocked the most controversial parts of Arizona’s immigration enforcement law from going into effect.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Steve Watson | Misguided attempt to portray libertarian ideology as fringe politics.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport:`Deadliest Month Of Afghan War

`Paper: Will Washington's Failures Lead To Second American Revolution`

`Democrats Say Rangel Should Resign...`
`Obama: Time For Rangel To End Career 'With Dignity'...`
`Decision Near On Maxine Waters Ethics Case...`

`Gdp: 2.4%`
`Mediocre Growth...`
`Recession Deeper Than Gov't Previously Thought...`
`Nyt: Employment Outlook Fades...`

`Prince Charles: 'My Duty Is To Save The World' … Well, so much for that. There Goes The World! ...`

`AP: A bleaker outlook for economy into 2011... Rangel faces 13 ethics charges... (wobama) Calls African-Americans a 'mongrel people'...`
`'We are now in the trial phase'... Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...`

`One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e`

`CLAIM: Giant asteroid on course to hit Earth...`

`SEC Says New FinReg Law Exempts It From Public Disclosure...`

`Oprah Hits All-Time Ratings Low- like O -- Again!`

`GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O...`
`Gibbs Misleads Public on Obama's Broken Tax Pledge...`
WIKILEAKS NIGHTMARE: 10000S OF DOCS DUMPED
`Oliver Stone: 'Jewish-Dominated Media' Prevents Hitler from Being Portrayed 'in Context'... Top U.S. officer warns Afghan war will get worse...`
`Bombs kill 5 US troops...`
`Taliban Claims It Captured U.S. Sailor...`
`Taliban claims to have captured 2 American soldiers... Strapped towns and cities giving away land -- to cut lawn mowing bills! LA suburb residents march over high city salaries...`

`VIDEO: Wikileaks' founder explain logs...`
`NKOREA WARNS OF NUKE RESPONSE TO NAVAL EXERCISES`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... PAPER: The Tax Tsunami On The Horizon... NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing... NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew... ‘`An Israeli man of Arab origin has been convicted of rape after having consensual sex with a woman who had believed him to be a fellow Jew. Sabbar Kashur, 30, was sentenced to 18 months in prison on Monday after the court ruled that he was guilty of rape by deception. According to the complaint filed by the woman with the Jerusalem district court, the two met in downtown Jerusalem in September 2008 where Kashur, an Arab from East Jerusalem, introduced himself as a Jewish bachelor seeking a serious relationship. The two then had consensual sex in a nearby building before Kashur left. When she later found out that he was not Jewish but an Arab, she filed a criminal complaint for rape and indecent assault …’

7-29-10

Business / Economic / Financial

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Mainstream Economists: “Mission Accomplished” Washington’s Blog | The system is rigged to benefit the elites and their sycophants at the expense of the country.

Look What Surprises They Snuck Into The Financial Reform Bill Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

It’s A Great Time To Be A New College Graduate: High Unemployment, Crappy Service Jobs And Crippling Student Loan Debt Today, America’s best and brightest are graduating from college full of hopes and dreams, but cold, hard economic reality is rapidly crushing many of them. Record numbers of college graduates cannot find jobs.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Barge crashes into oil well in Gulf of Mexico, new oil leak reported

The US Coast Guard dispatched emergency teams Tuesday after a boat crashed into an oil well off the coast of New Orleans, reportedly sending crude spewing some 20 feet into the air.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman*: ‘It has been an interesting 24 hours.

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June.

All within 24 hours. And with all this bearish data the market is up 2.5%, ostensibly because of earnings and a bump in European exports. What is really going on is a massive day trade and short covering rally based on a cheapening dollar as bond prices rise and interest rates fall. Not to mention Bernanke said things are weak, may get weaker, and that means more liquidity and cheaper capital to borrow and trade. Markets can move on their own for a while -- but not forever. The economy will catch up with corporate profits and bullish trading. The longer reality is ignored or pushed aside for a daily trade, the harder stocks will fall. Right now, we are on plan for a slow motion train wreck. The longer it takes for the beginning of the derailment, the harder that train will crash. Don’t take my word for it. Perhaps the greatest and certainly one of the most respected technicians in the world, Louise Yamada, does not see many good things happening. Just listen. She sees the market giving us a sell signal based on failed rallies. Not to mention she believes we are in a structural bear market similar to 1929-1942. That bear market ended, sort of, with the Japanese bombing Pearl Harbor. Weakening fundamentals, based on data and not wishful thinking, plus the best technician in the world is seeing a correction. Sounds like the market is increasingly separate from reality.’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Pharmaceutical drug contamination of waterways threatens life on our planet Mike Adams | If we keep poisoning the planet at this rate, there won’t be much left to offer future generations except a toxic stew of patent-protected chemicals

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Democrat leaders have finally realised that anti-establishment sentiment is the driving force behind the Tea Party movement, announcing a plan to demonize it via a national campaign to associate the GOP and the Tea Party as one and the same.

Judge Blocks Key Parts of Immigration Law in Arizona A federal judge, ruling on a clash between the federal government and a state over immigration policy, has blocked the most controversial parts of Arizona’s immigration enforcement law from going into effect.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Steve Watson | Misguided attempt to portray libertarian ideology as fringe politics.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: AP: A bleaker outlook for economy into 2011... Rangel faces 13 ethics charges... (wobama) Calls African-Americans a 'mongrel people'...`
`'We are now in the trial phase'... Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...`

`One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e`

`CLAIM: Giant asteroid on course to hit Earth...`

`SEC Says New FinReg Law Exempts It From Public Disclosure...`

`Oprah Hits All-Time Ratings Low- like O -- Again!`

`GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O...`
`Gibbs Misleads Public on Obama's Broken Tax Pledge...`
WIKILEAKS NIGHTMARE: 10000S OF DOCS DUMPED
`Oliver Stone: 'Jewish-Dominated Media' Prevents Hitler from Being Portrayed 'in Context'... Top U.S. officer warns Afghan war will get worse...`
`Bombs kill 5 US troops...`
`Taliban Claims It Captured U.S. Sailor...`
`Taliban claims to have captured 2 American soldiers... Strapped towns and cities giving away land -- to cut lawn mowing bills! LA suburb residents march over high city salaries...`

`VIDEO: Wikileaks' founder explain logs...`
`NKOREA WARNS OF NUKE RESPONSE TO NAVAL EXERCISES`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... PAPER: The Tax Tsunami On The Horizon... NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing... NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew... ‘`An Israeli man of Arab origin has been convicted of rape after having consensual sex with a woman who had believed him to be a fellow Jew. Sabbar Kashur, 30, was sentenced to 18 months in prison on Monday after the court ruled that he was guilty of rape by deception. According to the complaint filed by the woman with the Jerusalem district court, the two met in downtown Jerusalem in September 2008 where Kashur, an Arab from East Jerusalem, introduced himself as a Jewish bachelor seeking a serious relationship. The two then had consensual sex in a nearby building before Kashur left. When she later found out that he was not Jewish but an Arab, she filed a criminal complaint for rape and indecent assault …’

7-28-10

Business / Economic / Financial

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

It’s A Great Time To Be A New College Graduate: High Unemployment, Crappy Service Jobs And Crippling Student Loan Debt Today, America’s best and brightest are graduating from college full of hopes and dreams, but cold, hard economic reality is rapidly crushing many of them. Record numbers of college graduates cannot find jobs.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Barge crashes into oil well in Gulf of Mexico, new oil leak reported

The US Coast Guard dispatched emergency teams Tuesday after a boat crashed into an oil well off the coast of New Orleans, reportedly sending crude spewing some 20 feet into the air.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman*: ‘It has been an interesting 24 hours.

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June.

All within 24 hours. And with all this bearish data the market is up 2.5%, ostensibly because of earnings and a bump in European exports. What is really going on is a massive day trade and short covering rally based on a cheapening dollar as bond prices rise and interest rates fall. Not to mention Bernanke said things are weak, may get weaker, and that means more liquidity and cheaper capital to borrow and trade. Markets can move on their own for a while -- but not forever. The economy will catch up with corporate profits and bullish trading. The longer reality is ignored or pushed aside for a daily trade, the harder stocks will fall. Right now, we are on plan for a slow motion train wreck. The longer it takes for the beginning of the derailment, the harder that train will crash. Don’t take my word for it. Perhaps the greatest and certainly one of the most respected technicians in the world, Louise Yamada, does not see many good things happening. Just listen. She sees the market giving us a sell signal based on failed rallies. Not to mention she believes we are in a structural bear market similar to 1929-1942. That bear market ended, sort of, with the Japanese bombing Pearl Harbor. Weakening fundamentals, based on data and not wishful thinking, plus the best technician in the world is seeing a correction. Sounds like the market is increasingly separate from reality.’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Democrat leaders have finally realised that anti-establishment sentiment is the driving force behind the Tea Party movement, announcing a plan to demonize it via a national campaign to associate the GOP and the Tea Party as one and the same.

Judge Blocks Key Parts of Immigration Law in Arizona A federal judge, ruling on a clash between the federal government and a state over immigration policy, has blocked the most controversial parts of Arizona’s immigration enforcement law from going into effect.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Steve Watson | Misguided attempt to portray libertarian ideology as fringe politics.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

8-Year-Long Ban on Sex Trafficking in War Zones Never Enforced All Gov.com | U.S. government contractors may be engaging in sex trafficking in Iraq and Afghanistan, but officials in Washington appear to be taking no action.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:[see infra] and`[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...`

`One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e`

`CLAIM: Giant asteroid on course to hit Earth...`

`SEC Says New FinReg Law Exempts It From Public Disclosure...`

`Oprah Hits All-Time Ratings Low- like O -- Again!`

`GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O...`
`Gibbs Misleads Public on Obama's Broken Tax Pledge...`
WIKILEAKS NIGHTMARE: 10000S OF DOCS DUMPED
`Oliver Stone: 'Jewish-Dominated Media' Prevents Hitler from Being Portrayed 'in Context'... Top U.S. officer warns Afghan war will get worse...`
`Bombs kill 5 US troops...`
`Taliban Claims It Captured U.S. Sailor...`
`Taliban claims to have captured 2 American soldiers... Strapped towns and cities giving away land -- to cut lawn mowing bills! LA suburb residents march over high city salaries...`

`VIDEO: Wikileaks' founder explain logs...`
`NKOREA WARNS OF NUKE RESPONSE TO NAVAL EXERCISES`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... PAPER: The Tax Tsunami On The Horizon... NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing... NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew... ‘`An Israeli man of Arab origin has been convicted of rape after having consensual sex with a woman who had believed him to be a fellow Jew. Sabbar Kashur, 30, was sentenced to 18 months in prison on Monday after the court ruled that he was guilty of rape by deception. According to the complaint filed by the woman with the Jerusalem district court, the two met in downtown Jerusalem in September 2008 where Kashur, an Arab from East Jerusalem, introduced himself as a Jewish bachelor seeking a serious relationship. The two then had consensual sex in a nearby building before Kashur left. When she later found out that he was not Jewish but an Arab, she filed a criminal complaint for rape and indecent assault …’

7-27-10

Business / Economic / Financial

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

The American People Don’t Need More Handouts – What They Need Are Good Jobs Without millions more good jobs, the U.S. economy is simply never, ever going to recover. But at this point, there is every indication that the U.S. economy is going to continue to bleed jobs.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

Basel committee agrees new bank capital rules New banking rules to prevent a repeat of the financial crisis will not come fully into force for seven and a half years as part of a “broad accord” on the design of banking reform struck on Monday by global regulators.

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

College Students Hide Hunger, Homelessness NPR | There is a little-known but growing population of financially stressed students, who are facing hunger and sometimes even homelessness.

This is still an especially great opportunity to sell and take whatever profits / gains because there is truly much worse to come and the nation’s defacto bankrupt in every way.

103 U.S. Banks Have Collapsed So Far In 2010 – Do You Know If Your Bank Will Survive? Have you ever noticed how almost all U.S. bank closings are now announced over the weekend? It is almost as if someone wants to keep the increasing number of bank closures out of the news cycle as much as possible.

Jim Rogers: Stress Test Is a PR Exercise The stress test in which only seven of 91 European Union banks failed is just a public relations exercise and wasn’t tough enough, famous investor Jim Rogers told CNBC.com Monday.

Financial Crisis Commission Threatens To Audit Goldman Sachs The Financial Crisis Inquiry Commission headed up by Phil Angelides has threatened to audit Goldman Sachs, as it looks for more data on its dealing in derivatives. (They should! Forget the threats … Just do it and prosecute!)

Goldman reveals where bailout cash went Des Moines Register | Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions.

The Death of Paper Money Ambrose Evans-Pritchard | As they prepare for holiday reading in Tuscany, City bankers are buying up rare copies of an obscure book on the mechanics of Weimar inflation published in 1974.

Yes! I just (7-24-10) looked up and a quandary no longer as I saw the reason for the market action to the upside the last few sessions. A blazing full moon! Lest there be any doubt, truly a testament to the reality of lunacy and the lunar links thereto are the lunatic fraudulent rallies on fraudulent wall street; criminally insane by any standard.

This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

Study: Journalists Starting To Accept The Fact That Their Print Publications Will Eventually Fold Half of journalists think the print publications (or TV/radio stations) they work for will eventually fold.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

AP Business Highlights ‘… It had been thought that some banks needed to fail for the exercise to be accepted as credible, and some analysts still argued that the results showed the tests weren't rigorous enough -- the euro was trading flat on the day after the release of the results at just below $1.29. Pay czar chose not to go after $1.6B in bank pay …‘

On the Disconnect Between the Market and the Economy Michael Shulman*: ‘It has been an interesting 24 hours.

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June.

All within 24 hours. And with all this bearish data the market is up 2.5%, ostensibly because of earnings and a bump in European exports. What is really going on is a massive day trade and short covering rally based on a cheapening dollar as bond prices rise and interest rates fall. Not to mention Bernanke said things are weak, may get weaker, and that means more liquidity and cheaper capital to borrow and trade. Markets can move on their own for a while -- but not forever. The economy will catch up with corporate profits and bullish trading. The longer reality is ignored or pushed aside for a daily trade, the harder stocks will fall. Right now, we are on plan for a slow motion train wreck. The longer it takes for the beginning of the derailment, the harder that train will crash. Don’t take my word for it. Perhaps the greatest and certainly one of the most respected technicians in the world, Louise Yamada, does not see many good things happening. Just listen. She sees the market giving us a sell signal based on failed rallies. Not to mention she believes we are in a structural bear market similar to 1929-1942. That bear market ended, sort of, with the Japanese bombing Pearl Harbor. Weakening fundamentals, based on data and not wishful thinking, plus the best technician in the world is seeing a correction. Sounds like the market is increasingly separate from reality.’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

BP's Hayward sent to Siberia; to leave as CEO; Russia job in works (AP)*

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had 'ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Alex Jones On Russia Today: Media puts spin on WikiLeaks What result, if any, will the WikiLeaks release of documents have on the US war in Afghanistan? And, with the release of the WikiLeaks documents, what is the role of the mainstream media in the reporting on the war? Alex Jones is back on RT America to comment.

Ahmadinejad: US Expansion Of War In Middle East Imminent Iranian President Mahmoud Ahmadinejad has stated that he believes the US, backed by Israel, is preparing to attack two countries in the middle East within months as part of an expansion of the ‘war on terror’.

DoD’s lost $8.7 Billion: What About The Pentagon’s Missing Trillions? The Defense Department is unable to account for $8.7 billion of the $9.1 billion in Development Fund for Iraq monies it received for reconstruction in Iraq, reports Federal News Radio today.

Greatest Depression in California: People Begin Living Without Electricity and Water I couldn’t find statistics for local utility shut offs in my area, but I knew we would start to see more and more of this.

New York Times reporters met with White House before publishing WikiLeaks story The administration “praised” New York Times reporters for their handling of leaked Afghan war material.

War Logs Describe Bin Laden Sightings Despite CIA Denials Secret files leaked about the war in Afghanistan have revealed tantalising glimpses of Osama Bin Laden despite public CIA claims that they are clueless as to the whereabouts of the Al Qaeda boss.

Alex Jones: Corporate Media Puts Spin on WikiLeaks Russia Today | Alex Jones is back on RT America to comment on the release the WikiLeaks documents.

“Top Secret America”: The Rest Of The Story Chuck Baldwin | The mercenary contractor explosion is growing into a force that will eventually be used to threaten individual liberties at home.

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:[see infra] and`[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

`Drudgereport: GOLDMAN reveals where bailout cash went -- overseas banks! POLLS: NEW LOWS FOR O...`
`Gibbs Misleads Public on Obama's Broken Tax Pledge...`
WIKILEAKS NIGHTMARE: 10000S OF DOCS DUMPED
`Oliver Stone: 'Jewish-Dominated Media' Prevents Hitler from Being Portrayed 'in Context'... Top U.S. officer warns Afghan war will get worse...`
`Bombs kill 5 US troops...`
`Taliban Claims It Captured U.S. Sailor...`
`Taliban claims to have captured 2 American soldiers... Strapped towns and cities giving away land -- to cut lawn mowing bills! LA suburb residents march over high city salaries...`

`VIDEO: Wikileaks' founder explain logs...`
`NKOREA WARNS OF NUKE RESPONSE TO NAVAL EXERCISES`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... PAPER: The Tax Tsunami On The Horizon... NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing... NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew... ‘`An Israeli man of Arab origin has been convicted of rape after having consensual sex with a woman who had believed him to be a fellow Jew. Sabbar Kashur, 30, was sentenced to 18 months in prison on Monday after the court ruled that he was guilty of rape by deception. According to the complaint filed by the woman with the Jerusalem district court, the two met in downtown Jerusalem in September 2008 where Kashur, an Arab from East Jerusalem, introduced himself as a Jewish bachelor seeking a serious relationship. The two then had consensual sex in a nearby building before Kashur left. When she later found out that he was not Jewish but an Arab, she filed a criminal complaint for rape and indecent assault …’

7-26-10

Business / Economic / Financial

This is quite incredible. The wobama market … based on b* s* alone. Yes, there’s a waning full moon. Yes, this is an election year and we’ve seen frothing, false data / reports before. But come on! This is downright ridiculous. I had occasion to hear from a so-called money manager on what used to be a balanced business / finance radio program (I seldom listen to said program anymore, truth be told, but owing to a scheduling quirk caught same this day) say that all the economic / business news last week was good. In point of fact, the actual news was all bad (except for some sporadic earnings reports that were discounted many months ago). What parallel universe are these foisty feisty frauds living in? Again, waning full moon Then the infamous federal but not really federal, express in only a month (with blazing full moon) changed downward guidance to upward guidance and based on b* s, and voila … another full moon rally (oh yeah, the percentage up from low level housing still low). Are the 30 day lunar cycles at work or just election year frothing? Preposterous. Fundamentals have not changed. Structural problems to the economy and insurmountable debt remain and will worsen. All their computer programmed trading tricks with eye towards so-called technical support, resistance, etc., levels will suck some suckers in as always, they’ll still get their commissions on the way down, and we’ll see the bubble deflate again.

This is an especially great opportunity to sell and take whatever profits / gains because there is truly much worse to come and the nation’s defacto bankrupt in every way.

This Week in the Markets - Suttmeier ‘ …Bank Failure Friday – The FDIC closed seven banks last Friday bringing the total for the month of July to 17 and 103 for the year. Month to date bank failures have drained the FDIC Deposit Insurance fund by $925.7 million brining the year to date today to $18.5 billion well above the $15.33 billion prepaid assessments for all of 2010. I estimate that the DIF is now in arrears by $32.7 billion.

Only 25 banks failed in 2008, as the FDIC was slow closing community and regional banks.

There were 140 bank failures in 2009 with a peak of 50 in the third quarter.

In the first quarter of 2010 there were 41 failures, in the second quarter there were 45 failures, and so far 17 for the third quarter for a year to date total of 103.

At this pace bank closures in 2010 will be within my 150 to 200 estimate range for 2010.

Since the end of 2007, the FDIC has closed 267 banks on the way to my predicted 500 to 800 by the end of 2012 into 2013 …’

103 U.S. Banks Have Collapsed So Far In 2010 – Do You Know If Your Bank Will Survive? Have you ever noticed how almost all U.S. bank closings are now announced over the weekend? It is almost as if someone wants to keep the increasing number of bank closures out of the news cycle as much as possible.

Jim Rogers: Stress Test Is a PR Exercise The stress test in which only seven of 91 European Union banks failed is just a public relations exercise and wasn’t tough enough, famous investor Jim Rogers told CNBC.com Monday.

Financial Crisis Commission Threatens To Audit Goldman Sachs The Financial Crisis Inquiry Commission headed up by Phil Angelides has threatened to audit Goldman Sachs, as it looks for more data on its dealing in derivatives. (They should! Forget the threats … Just do it and prosecute!)

Goldman reveals where bailout cash went Des Moines Register | Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions.

The Death of Paper Money Ambrose Evans-Pritchard | As they prepare for holiday reading in Tuscany, City bankers are buying up rare copies of an obscure book on the mechanics of Weimar inflation published in 1974.

Yes! I just (7-24-10) looked up and a quandary no longer as I saw the reason for the market action to the upside the last few sessions. A blazing full moon! Lest there be any doubt, truly a testament to the reality of lunacy and the lunar links thereto are the lunatic fraudulent rallies on fraudulent wall street; criminally insane by any standard.

This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

ETF Investing: S&P 500 ETF sending bearish signal …After hitting its 2010 peak in April, the $70 billion SPDR S&P 500 ETF(SPY 110.41, +0.95, +0.87%) has been in a downtrend punctuated by fizzled low-volume rallies and lower highs. Since the end of May, the ETF has bounced between a range of about $101 to $114 a share as bulls and bears fight for the upper hand … BACKWARD STEPS Yet since Memorial Day, a disturbing trend for bulls has been that when trading volume picks up, it usually means selling and lower stock prices.Between the sell-offs, the rallies have been characterized by fading volume as investors fret over European sovereign debt. Recent U.S. data on the economy and housing market have disappointed after the expiration of home-buyer tax credits, further weighing on sentiment and stoking fears of a double-dip recession. See related story on market-timing indicators.Since the beginning of June, the three highest-volume days in the SPDR S&P 500 ETF by share volume have resulted in declines. Two of those days resulted in losses of at least 3% -- on June 3 and 29. In July, the two most-active sessions also ended with stocks in the red. One was July 16, when the fund plunged nearly 3%.The S&P 500 and ETFs that follow it have failed numerous attempts in the wake of the May 6 "flash crash" to break through their 50-day moving average, a closely watched technical indicator. Last week's rally did push the ETF above this average, and traders will be watching to see if it can hold.In another potentially bearish signal, the 50-day moving average earlier this month dropped below the 200-day moving average. Chart followers call this event a "death cross," and the last one presaged the 2008 sell-off. Death crosses ring alarm bells with technical analysts, but their forecasting track record is mixed. See recent analysis on the death cross.Meanwhile, falling Treasury yields and massive inflows to bond funds highlight investors' unease and desire for safety. For example, the $3.5 billion iShares Barclays 20+ Year Treasury Bond Fund (TLT 99.78, -1.07, -1.06%) has rallied more than 10% this year -- bond prices and yields move in opposite directions. Treasury yields did rally Friday on relief the European bank stress tests didn't hold any negative surprises.Still, the stock market appears to be pricing in a much stronger economic recovery than the fixed-income market, and analysts say both can't be right. CAUTIOUS OUTLOOKStandard & Poor's Global Investment Policy Committee in a July 21 outlook recommended underweighting equities and overweighting cash. "Heightened volatility, caused by plunging Treasury yields, global economic growth concerns, and sovereign debt worries, increase the range of investment outcomes, and therefore merit a more conservative investment stance," S&P said."The S&P 500 remains in an intermediate-term downtrend off the bull-market highs from April, with prices trapped between strong overhead on the upside and an apparent sturdy floor on the downside," the committee added. "Specifically, we see the S&P 500 trapped between the June highs up around 1,130 and the July lows down around 1,020."Another potential red flag is how S&P 500 stocks have been moving as a herd either up or down. Earlier this month, the component stocks' correlation to the S&P 500 rose to the highest level since the October 1987 crash, The Wall Street Journal reported. See previous story on the herd instinct at WSJ.com."There has been a lot of discussion over the past few weeks concerning the increased correlation between individual equities. Basically, on days when the market is up, it seems that all stocks go up, and on days when the market is down, everything is lower," Bespoke Investment Group said in a July 22 report.One primary reason for the trend can be traced to the increased popularity of ETFs, such as the largest one tracking the S&P 500, Bespoke said. Individual stock correlation "bottomed in 1993, which was coincidentally the year that SPY began trading," it added, referring to the SPDR S&P 500 ETF's ticker symbol. "Since then, the increased correlation among stocks has increased in lockstep with moves in SPY's volume."Bespoke concluded: "There has never been a period in the market's history where individual stocks traded in such lockstep with each other than they did in 2009. Now, even though we have since seen a decline in the relationship, current levels are now higher ... than they were in more than 98% of all other days since 1929. For better or worse, you can blame it on the SPY."

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

Study: Journalists Starting To Accept The Fact That Their Print Publications Will Eventually Fold Half of journalists think the print publications (or TV/radio stations) they work for will eventually fold.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

AP Business Highlights ‘… It had been thought that some banks needed to fail for the exercise to be accepted as credible, and some analysts still argued that the results showed the tests weren't rigorous enough -- the euro was trading flat on the day after the release of the results at just below $1.29. Pay czar chose not to go after $1.6B in bank pay …‘

YAHOO [BRIEFING.COM] ‘ … Despite what would seem like a strong outcome to the bank examinations, market participants were generally unfazed by the midday announcement. That's largely because the stringency of the tests was unclear and the tests didn't really do anything to address concerns about the pace of the economic recovery following the testimony of Fed Chairman Bernanke earlier this week ...‘

Seven banks fail Europe stress test (Reuters) LONDON/MADRID (Reuters) – Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), much less than expected, confirming fears the continent's long-awaited stress test was too soft…

Chinese Central Bank Outlines Plan To Ditch The Dollar As The Yuan’s Peg Hu Xiaolian, deputy governor at the Chinese central bank, has released a paper which suggests it’s soon time for China to peg the yuan to a basket of foreign currencies, rather than the U.S. dollar alone.

The SEC Launches Investigation Into The Suspicious Timing Of SEC VS Goldman Case Wall Streeters who have wondered about the suspicious timing of the SEC’s case against Goldman ever since it was announced within moments of Obama’s big Fin Reg push will soon have an answer.

Goldman Sachs Said to Give AIG-Hedging List to Investigators Goldman Sachs Group Inc. told U.S. investigators which counterparties it used to hedge the risk that American International Group Inc. would fail, according to three people with knowledge of the matter.

2011: The Year Of The Tax Increase Unless the U.S. Congress acts, there is going to be a massive wave of tax increases in 2011. In fact, some are already calling 2011 the year of the tax increase.

Disappearing Middle Class: Bilingual Ph.D. Accepts Rent Money From Church Huffington Post | Until 18 months ago, Maria Ortiz says she never had to search for a job in her life.

Sen. John Kerry Skips Town on Sails Tax Boston Herald | Sen. John Kerry, who has repeatedly voted to raise taxes while in Congress, dodged a whopping six-figure state tax bill on his new multimillion-dollar yacht by mooring her in Newport, R.I.

Smoking Guns of U.S. Treasury Monetization Jim Willie | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

On the Disconnect Between the Market and the Economy Michael Shulman: ‘It has been an interesting 24 hours.

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June.

All within 24 hours. And with all this bearish data the market is up 2.5%, ostensibly because of earnings and a bump in European exports. What is really going on is a massive day trade and short covering rally based on a cheapening dollar as bond prices rise and interest rates fall. Not to mention Bernanke said things are weak, may get weaker, and that means more liquidity and cheaper capital to borrow and trade. Markets can move on their own for a while -- but not forever. The economy will catch up with corporate profits and bullish trading. The longer reality is ignored or pushed aside for a daily trade, the harder stocks will fall. Right now, we are on plan for a slow motion train wreck. The longer it takes for the beginning of the derailment, the harder that train will crash. Don’t take my word for it. Perhaps the greatest and certainly one of the most respected technicians in the world, Louise Yamada, does not see many good things happening. Just listen. She sees the market giving us a sell signal based on failed rallies. Not to mention she believes we are in a structural bear market similar to 1929-1942. That bear market ended, sort of, with the Japanese bombing Pearl Harbor. Weakening fundamentals, based on data and not wishful thinking, plus the best technician in the world is seeing a correction. Sounds like the market is increasingly separate from reality.’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."

The market dropped as Bernanke delivered his testimony yesterday afternoon - and he was blamed for bringing it down. The Dow closed more than 109 points lower. The Dow was then up more than 117 points right after the open today and the Nasdaq gapped up over 26 points. The mainstream media reported bullish news out of Europe and good corporate earnings instantly turned market psychology around. One major news service stated, "earnings Thursday showed that if the economy is slowing, many companies are not being affected too much by the downturn". In other words corporate profits have decoupled from the state of the economy. While this may sound completely idiotic, it may not be as absurd as it initially appears to be. If the federal government has spent $3 trillion of borrowed and printed money in the last two years, that money has to have gone somewhere. Either direct or indirect government purchases could be responsible for the current batch of good corporate earnings, although sales to the economically strong economies in East and South Asian are behind better performance for many U.S. companies that do most of their business overseas. So the private sector of the U.S. economy can be dead in the water, but corporate earnings can be good because the government has become such a large component of the economy (as is the case in socialist states). While corporate earnings are up and cash levels are at record highs, the money doesn't seem to be flowing into the general economy. Despite the supposedly great state of corporate America, there are few announcements of major business expansions, nor is hiring picking up. The usual evidence of a robust corporate sector is simply not there. Weekly jobless claims in fact rose 37,000 to 464,000 this week. While 'seasonal adjustments' were cited behind the big increase, weekly claims have been at recessionary (if not depressionary) levels for two years now. Apparently there are negative seasonal factors in winter, spring, summer, and fall. The alternative explanation for today's big stock market rally, despite major gloomy news, is the not so invisible hand of government manipulation. Bernanke made it clear early on that he was more than willing to interfere in the markets. When the Fed began its rate lowering campaign in August 2007, it did so one hour before monthly futures expired and this created a huge rally that wiped out the profits of the shorts (and gave a huge gift to the parties that were on the other side of the trade - the big Wall Street banks perhaps?). More recently, the Fed created a huge global liquidity facility on May 9th, after the Flash Crash, and markets soared - at least for a while. Since there are major elections in the fall, investors should assume that powers that be will not want a crashing stock market and the announcement of a new recession. It will be interesting to see how they try to cover this up. Disclosure: No positions

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone. Investors are walking tall again today, with the Dow soaring on awesome economic and corporate numbers, after an afternoon yesterday that sent us running to our bedrooms in tears. It’s enough to remind some people of the bad old days of braces and lockers and high-school crushes. Like Pimco managing director and portfolio Saumil Parikh, for instance, who used the Pimco blog to pen a heartfelt diary entry on what he called America’s “teen drama economy.” In it, Parikh calls on U.S. policymakers to be the grown-up in the room, even as screaming investors clamor for someone – anyone, the Fed, the White House, Congress – to offer a quick fix now. Sure, throwing a few sops to the economy may help markets prop up in the short run, but Parikh’s thinking a little more revenge of the nerds: buckle down and make the tough decisions that don’t win you friends. “The risk of another U.S. recession is increasing,” Parikh writes. “The question remains whether policymakers possess the courage necessary to make difficult structural changes.” That means making the kind of choices that are most likely to get you shoved into a locker after gym class: introducing a federal value-added tax, taxing residential energy consumption and tightening credit standards, for instance. Longer-term, Parikh has a litany of pressing issues to address: weaning the economy off its dependence on consumption, nurturing creative (ie. non-housing) industries, attracting the world’s brightest to counter a demographic decline, guarding intellectual property and rethinking our energy situation. “Much in the same way that every high school teacher — or for that matter every parent of a teenager in high school — is eventually confronted with the difficult choice between courage and popularity in dealing with difficult situations, U.S. policymakers are now confronted with a difficult choice between making structural changes and addressing cyclical demand,” Parikh says. Easier said than done, he’ll grant, but with the economic recovery under siege, the time to act is now: in the long run, as perhaps in life after high school, “courage will trump popularity.”

Why I'm Not Going to Be Long Stocks in the Near Future Oaktree's Howard Marks writes one of the must read quarterly letters (embedded below). This one is a bit lengthy, including many extended quotes from mainstream sources, but there are a few tidbits that resonate soundly with me.First of all, page 5, which describes the basic unsustainable characteristics common in many global economies. More importantly, Marks's conclusion, on page 17, where he notes:

bottom line: anyone who invests today in a pro-risk fashion out of belief in the recovery must be confident that he'll be agile enough to take profits before the long term realities set in.

I've used the term "reality" many times to answer the question "why are markets down today?" And Marks's quote perfectly describes why I'm not going to be majorly long stocks any time in the near future: 1) I think reality is much lower, and 2) I don't think I am agile enough to pass the grenade once the pin is pulled.

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html       Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b* s!].

BP's Hayward sent to Siberia; to leave as CEO; Russia job in works (AP)*

Wikileaks’ War Logs Highlight Global Intelligence Facade Of ‘War On Terror’ The Wikileaks Afghanistan War Logs, publicly released today, highlight and corroborate what we already know about the “war on terror” – it is a vast and decompartmentalised intelligence operation.

Wikileaks founder Julian Assange: more revelations to come The Wikileaks founder, Julian Assange, said today that the organisation is working through a “backlog” of further secret material and was expecting a “substantial increase in submissions” from whistleblowers after one of the biggest leaks inUS military history.

Law chief to probe KGB agent’s claim that David Kelly was ‘exterminated’ A former Russian spy’s dossier which suggests that Government scientist David Kelly was ‘ exterminated’ in a planned assassination is being studied by the Attorney General.

Top U.S. officer warns Afghan war will get worse More NATO troops will die in Afghanistan as violence mounts over the summer, but Washington’s goal of turning the tide against the insurgency by year’s end is within reach, the top U.S. military officer said on Sunday. [Sounds like a plan!].

Wikileaks Docs Target Pakistan Kurt Nimmo | Pakistan is the new frontier of the Forever War on Manufactured Terror.

Wikileaks’ War Logs Highlight Global Intelligence Facade Of ‘War On Terror’ Steve Watson | The Wikileaks Afghanistan War Logs corroborate what we already know about the vast intelligence operation known as the “war on terror.”

H.R. 5741 Slave bill now in Committee Rob Dew | Slavery has a new name: “Mandatory Service.”

Oath Breakers and the Age of Treason The Excavator | America was covertly overthrown by a tight-knit group of criminal insiders.

Iran’s military leaders try to raise their nation’s confidence in the face a possible attack Andrew Steele | Iran’s military leaders are trying to reassure their people that the nation would stand strong against a possible u.s. or israeli attack.

Goldman Sachs Names European Banks It Paid Amid AIG’s U.S.-Funded Bailout Goldman Sachs Group Inc. said it made payments to banks including Germany’s DZ Bank AG and Banco Santander SA of Spain for mortgage-related losses as it received U.S. taxpayer funds through theAmerican International Group Inc. bailout in 2008.

Kucinich, Ron Paul: Get US troops out of Pakistan Two US lawmakers — a Republican and a Democrat — proposed a bill this week demanding the withdrawal of all US troops in Pakistan, where they are conducting covert operations against militants.

CNN Anchors Desperately Call For Crackdown on Bloggers Which They Collectively View as a Threat to Their Information Blockade Anchors Kyra Phillips and John Roberts discussed the “mixed blessing of the internet,” and agreed that there should be a crackdown on anonymous bloggers who disparage others on the internet, most of whom deserve it.

Pentagon workers tied to child porn Federal investigators have identified several dozen Pentagon officials and contractors with high-level security clearances who allegedly purchased and downloaded child pornography, including an undisclosed number who used their government computers to obtain the illegal material, according to investigative reports.

Infowars.com Censored in Greece An Infowars.com reader sent an email today informing us that our website is no longer available in Greek public libraries.      Sarkozy Accused of Working for Israeli Intelligence Gamal Nkrumah | A letter dispatched to French police officials late last winter revealed that Sarkozy was recruited as an Israeli spy.

Exclusive: Jesse Ventura Talks with Alex Jones About Government Harassment of His TV Show In an exclusive interview on the Alex Jones Show today, Jesse Ventura will talk about the U.S. military’s attempt to undermine his popular TruTV show, “Conspiracy Theory with Jesse Ventura.”

White House Emails Show More Extensive Improper Contact With Google Recent email communication between White House Deputy Chief Technology Officer Andrew McLaughlin (in photo), who is Google’s former head of Global Public Policy, and multiple outside individuals raise new questions about the official’s alleged circumvention of federal ethics and recordkeeping rules.

Iran: Global awakening will end cruelty Iranian President Mahmoud Ahmadinejad says a new consciousness could develop in the world, which will put an end to tyrannical powers and their injustices.

UK admits using DU ammunition in Iraq UK defense secretary says American and British forces used depleted uranium (DU) ammunitions during the US-led invasion of Iraq in 2003.

U.S. Forces Step Up Pakistan Presence       wobama Is Preparing to Bomb Iran Webster G. Tarpley | A possible timetable built around August 10, September 8, or October 7 of this year, or perhaps some time later.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:[see infra] and`[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

`Drudgereport: GOLDMAN reveals where bailout cash went -- overseas banks!`
WIKILEAKS NIGHTMARE: 10000S OF DOCS DUMPED
`Oliver Stone: 'Jewish-Dominated Media' Prevents Hitler from Being Portrayed 'in Context'... Top U.S. officer warns Afghan war will get worse...`
`Bombs kill 5 US troops...`
`Taliban Claims It Captured U.S. Sailor...`
`Taliban claims to have captured 2 American soldiers... Strapped towns and cities giving away land -- to cut lawn mowing bills! LA suburb residents march over high city salaries...`

`VIDEO: Wikileaks' founder explain logs...`
`NKOREA WARNS OF NUKE RESPONSE TO NAVAL EXERCISES`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... PAPER: The Tax Tsunami On The Horizon...NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing...` `NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

`Arab guilty of rape after consensual sex with Jew... ‘`An Israeli man of Arab origin has been convicted of rape after having consensual sex with a woman who had believed him to be a fellow Jew. Sabbar Kashur, 30, was sentenced to 18 months in prison on Monday after the court ruled that he was guilty of rape by deception. According to the complaint filed by the woman with the Jerusalem district court, the two met in downtown Jerusalem in September 2008 where Kashur, an Arab from East Jerusalem, introduced himself as a Jewish bachelor seeking a serious relationship. The two then had consensual sex in a nearby building before Kashur left. When she later found out that he was not Jewish but an Arab, she filed a criminal complaint for rape and indecent assault …’

7-23-10

Business / Economic / Financial

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

AP Business Highlights ‘… It had been thought that some banks needed to fail for the exercise to be accepted as credible, and some analysts still argued that the results showed the tests weren't rigorous enough -- the euro was trading flat on the day after the release of the results at just below $1.29. Pay czar chose not to go after $1.6B in bank pay …‘

YAHOO [BRIEFING.COM] ‘ … Despite what would seem like a strong outcome to the bank examinations, market participants were generally unfazed by the midday announcement. That's largely because the stringency of the tests was unclear and the tests didn't really do anything to address concerns about the pace of the economic recovery following the testimony of Fed Chairman Bernanke earlier this week ...‘

Seven banks fail Europe stress test (Reuters) LONDON/MADRID (Reuters) – Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), much less than expected, confirming fears the continent's long-awaited stress test was too soft…

Chinese Central Bank Outlines Plan To Ditch The Dollar As The Yuan’s Peg Hu Xiaolian, deputy governor at the Chinese central bank, has released a paper which suggests it’s soon time for China to peg the yuan to a basket of foreign currencies, rather than the U.S. dollar alone.

The SEC Launches Investigation Into The Suspicious Timing Of SEC VS Goldman Case Wall Streeters who have wondered about the suspicious timing of the SEC’s case against Goldman ever since it was announced within moments of Obama’s big Fin Reg push will soon have an answer.

Goldman Sachs Said to Give AIG-Hedging List to Investigators Goldman Sachs Group Inc. told U.S. investigators which counterparties it used to hedge the risk that American International Group Inc. would fail, according to three people with knowledge of the matter.

2011: The Year Of The Tax Increase Unless the U.S. Congress acts, there is going to be a massive wave of tax increases in 2011. In fact, some are already calling 2011 the year of the tax increase.

Disappearing Middle Class: Bilingual Ph.D. Accepts Rent Money From Church Huffington Post | Until 18 months ago, Maria Ortiz says she never had to search for a job in her life.

Sen. John Kerry Skips Town on Sails Tax Boston Herald | Sen. John Kerry, who has repeatedly voted to raise taxes while in Congress, dodged a whopping six-figure state tax bill on his new multimillion-dollar yacht by mooring her in Newport, R.I.

Smoking Guns of U.S. Treasury Monetization Jim Willie | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Come on! Suckers’ rally as in last bubble crash based on bad news and b* s. Oh they say ‘better than the bad expected’ but it’s difficult to see how that’s at all possible since this was all bad news. Even continuing claims for unemployment were as I predicted softened temporarily by the ploy of delay in the legislative extension of jobless benefits; and, how many times do they discount the past second quarter earnings which were baked into their stale fraud cake many months ago; then there’s also the higher oil price rally based on over-printed, ever more worthless Weimar dollars. This is an especially great opportunity to sell and take whatever profits / gains because there is truly much worse to come and the nation’s defacto bankrupt in every way.

This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

On the Disconnect Between the Market and the Economy Michael Shulman: ‘It has been an interesting 24 hours.

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June.

All within 24 hours. And with all this bearish data the market is up 2.5%, ostensibly because of earnings and a bump in European exports. What is really going on is a massive day trade and short covering rally based on a cheapening dollar as bond prices rise and interest rates fall. Not to mention Bernanke said things are weak, may get weaker, and that means more liquidity and cheaper capital to borrow and trade. Markets can move on their own for a while -- but not forever. The economy will catch up with corporate profits and bullish trading. The longer reality is ignored or pushed aside for a daily trade, the harder stocks will fall. Right now, we are on plan for a slow motion train wreck. The longer it takes for the beginning of the derailment, the harder that train will crash. Don’t take my word for it. Perhaps the greatest and certainly one of the most respected technicians in the world, Louise Yamada, does not see many good things happening. Just listen. She sees the market giving us a sell signal based on failed rallies. Not to mention she believes we are in a structural bear market similar to 1929-1942. That bear market ended, sort of, with the Japanese bombing Pearl Harbor. Weakening fundamentals, based on data and not wishful thinking, plus the best technician in the world is seeing a correction. Sounds like the market is increasingly separate from reality.’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."

The market dropped as Bernanke delivered his testimony yesterday afternoon - and he was blamed for bringing it down. The Dow closed more than 109 points lower. The Dow was then up more than 117 points right after the open today and the Nasdaq gapped up over 26 points. The mainstream media reported bullish news out of Europe and good corporate earnings instantly turned market psychology around. One major news service stated, "earnings Thursday showed that if the economy is slowing, many companies are not being affected too much by the downturn". In other words corporate profits have decoupled from the state of the economy. While this may sound completely idiotic, it may not be as absurd as it initially appears to be. If the federal government has spent $3 trillion of borrowed and printed money in the last two years, that money has to have gone somewhere. Either direct or indirect government purchases could be responsible for the current batch of good corporate earnings, although sales to the economically strong economies in East and South Asian are behind better performance for many U.S. companies that do most of their business overseas. So the private sector of the U.S. economy can be dead in the water, but corporate earnings can be good because the government has become such a large component of the economy (as is the case in socialist states). While corporate earnings are up and cash levels are at record highs, the money doesn't seem to be flowing into the general economy. Despite the supposedly great state of corporate America, there are few announcements of major business expansions, nor is hiring picking up. The usual evidence of a robust corporate sector is simply not there. Weekly jobless claims in fact rose 37,000 to 464,000 this week. While 'seasonal adjustments' were cited behind the big increase, weekly claims have been at recessionary (if not depressionary) levels for two years now. Apparently there are negative seasonal factors in winter, spring, summer, and fall. The alternative explanation for today's big stock market rally, despite major gloomy news, is the not so invisible hand of government manipulation. Bernanke made it clear early on that he was more than willing to interfere in the markets. When the Fed began its rate lowering campaign in August 2007, it did so one hour before monthly futures expired and this created a huge rally that wiped out the profits of the shorts (and gave a huge gift to the parties that were on the other side of the trade - the big Wall Street banks perhaps?). More recently, the Fed created a huge global liquidity facility on May 9th, after the Flash Crash, and markets soared - at least for a while. Since there are major elections in the fall, investors should assume that powers that be will not want a crashing stock market and the announcement of a new recession. It will be interesting to see how they try to cover this up. Disclosure: No positions

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone. Investors are walking tall again today, with the Dow soaring on awesome economic and corporate numbers, after an afternoon yesterday that sent us running to our bedrooms in tears. It’s enough to remind some people of the bad old days of braces and lockers and high-school crushes. Like Pimco managing director and portfolio Saumil Parikh, for instance, who used the Pimco blog to pen a heartfelt diary entry on what he called America’s “teen drama economy.” In it, Parikh calls on U.S. policymakers to be the grown-up in the room, even as screaming investors clamor for someone – anyone, the Fed, the White House, Congress – to offer a quick fix now. Sure, throwing a few sops to the economy may help markets prop up in the short run, but Parikh’s thinking a little more revenge of the nerds: buckle down and make the tough decisions that don’t win you friends. “The risk of another U.S. recession is increasing,” Parikh writes. “The question remains whether policymakers possess the courage necessary to make difficult structural changes.” That means making the kind of choices that are most likely to get you shoved into a locker after gym class: introducing a federal value-added tax, taxing residential energy consumption and tightening credit standards, for instance. Longer-term, Parikh has a litany of pressing issues to address: weaning the economy off its dependence on consumption, nurturing creative (ie. non-housing) industries, attracting the world’s brightest to counter a demographic decline, guarding intellectual property and rethinking our energy situation. “Much in the same way that every high school teacher — or for that matter every parent of a teenager in high school — is eventually confronted with the difficult choice between courage and popularity in dealing with difficult situations, U.S. policymakers are now confronted with a difficult choice between making structural changes and addressing cyclical demand,” Parikh says. Easier said than done, he’ll grant, but with the economic recovery under siege, the time to act is now: in the long run, as perhaps in life after high school, “courage will trump popularity.”

Why I'm Not Going to Be Long Stocks in the Near Future Oaktree's Howard Marks writes one of the must read quarterly letters (embedded below). This one is a bit lengthy, including many extended quotes from mainstream sources, but there are a few tidbits that resonate soundly with me.First of all, page 5, which describes the basic unsustainable characteristics common in many global economies. More importantly, Marks's conclusion, on page 17, where he notes:

bottom line: anyone who invests today in a pro-risk fashion out of belief in the recovery must be confident that he'll be agile enough to take profits before the long term realities set in.

I've used the term "reality" many times to answer the question "why are markets down today?" And Marks's quote perfectly describes why I'm not going to be majorly long stocks any time in the near future: 1) I think reality is much lower, and 2) I don't think I am agile enough to pass the grenade once the pin is pulled.

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Pentagon workers tied to child porn Federal investigators have identified several dozen Pentagon officials and contractors with high-level security clearances who allegedly purchased and downloaded child pornography, including an undisclosed number who used their government computers to obtain the illegal material, according to investigative reports.

Infowars.com Censored in Greece An Infowars.com reader sent an email today informing us that our website is no longer available in Greek public libraries.      Sarkozy Accused of Working for Israeli Intelligence Gamal Nkrumah | A letter dispatched to French police officials late last winter revealed that Sarkozy was recruited as an Israeli spy.

Exclusive: Jesse Ventura Talks with Alex Jones About Government Harassment of His TV Show In an exclusive interview on the Alex Jones Show today, Jesse Ventura will talk about the U.S. military’s attempt to undermine his popular TruTV show, “Conspiracy Theory with Jesse Ventura.”

White House Emails Show More Extensive Improper Contact With Google Recent email communication between White House Deputy Chief Technology Officer Andrew McLaughlin (in photo), who is Google’s former head of Global Public Policy, and multiple outside individuals raise new questions about the official’s alleged circumvention of federal ethics and recordkeeping rules.

Iran: Global awakening will end cruelty Iranian President Mahmoud Ahmadinejad says a new consciousness could develop in the world, which will put an end to tyrannical powers and their injustices.

UK admits using DU ammunition in Iraq UK defense secretary says American and British forces used depleted uranium (DU) ammunitions during the US-led invasion of Iraq in 2003.

U.S. Forces Step Up Pakistan Presence       wobama Is Preparing to Bomb Iran Webster G. Tarpley | A possible timetable built around August 10, September 8, or October 7 of this year, or perhaps some time later.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm            Alex Jones Talks About Cannibalism in History and the Viggo Mortensen film ‘The Road’        `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

netanayahu admits on video he deceived US to destroy Oslo accord The contents of a secretly recorded video threaten to gravely embarrass not only Benjamin netanayahu, the Israeli prime minister but also the US administration of Barack Obama.

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

Drudgereport: `NKOREA WARNS OF NUKE RESPONSE TO NAVAL EXERCISES`
`Bank failure tally passes 100 for year...`
`BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION... WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'... Kerry Docks New Yacht In RI To Duck MA Taxes... PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...`
`CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... PAPER: The Tax Tsunami On The Horizon... NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing... NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

DRUDGEREPORT: `Fed Wins More Power in Overhaul...`
`Shelby: Repeal It...`
`Economy may not recover 'for five or six years'...REGULATION CELEBRATION!SUMMER SOUR: Consumer Sentiment Sinks To Lowest Level in 11 Months... Army suicides hit record number in June...`
`Specter's YES Kagan vote; Obama job offer...`

`GIFT TO THE DEMS: BUSH TO RELEASE BOOK FOR ELECTION; LEAKS BEGIN IN OCTOBER... SENATE PA$$ES SWEEPING BANK BILL...`
`Biggest expansion of government power over banking, markets since Depression...`
`REVEALED: Senate VIP Loans Mount...`
`JP MORGANCHASE reports 77% rise in profit...`
`...Banks repossess homes at record pace; likely to top 1 million in 2010...`

7-22-10

Business / Economic / Financial

Come on! Suckers’ rally as in last bubble crash based on bad news and b* s. Oh they say ‘better than the bad expected’ but it’s difficult to see how that’s at all possible since this was all bad news. Even continuing claims for unemployment were as I predicted softened temporarily by the ploy of delay in the legislative extension of jobless benefits; and, how many times do they discount the past second quarter earnings which were baked into their stale fraud cake many months ago; then there’s also the higher oil price rally based on over-printed, ever more worthless Weimar dollars. This is an especially great opportunity to sell and take whatever profits / gains because there is truly much worse to come and the nation’s defacto bankrupt in every way.

This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

On the Disconnect Between the Market and the Economy Michael Shulman: ‘It has been an interesting 24 hours.

The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

Unemployment claims rose to 464,000, more than expected.

Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

Home sales fell 5.1% in June.

All within 24 hours. And with all this bearish data the market is up 2.5%, ostensibly because of earnings and a bump in European exports. What is really going on is a massive day trade and short covering rally based on a cheapening dollar as bond prices rise and interest rates fall. Not to mention Bernanke said things are weak, may get weaker, and that means more liquidity and cheaper capital to borrow and trade. Markets can move on their own for a while -- but not forever. The economy will catch up with corporate profits and bullish trading. The longer reality is ignored or pushed aside for a daily trade, the harder stocks will fall. Right now, we are on plan for a slow motion train wreck. The longer it takes for the beginning of the derailment, the harder that train will crash. Don’t take my word for it. Perhaps the greatest and certainly one of the most respected technicians in the world, Louise Yamada, does not see many good things happening. Just listen. She sees the market giving us a sell signal based on failed rallies. Not to mention she believes we are in a structural bear market similar to 1929-1942. That bear market ended, sort of, with the Japanese bombing Pearl Harbor. Weakening fundamentals, based on data and not wishful thinking, plus the best technician in the world is seeing a correction. Sounds like the market is increasingly separate from reality.’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar** Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."

The market dropped as Bernanke delivered his testimony yesterday afternoon - and he was blamed for bringing it down. The Dow closed more than 109 points lower. The Dow was then up more than 117 points right after the open today and the Nasdaq gapped up over 26 points. The mainstream media reported bullish news out of Europe and good corporate earnings instantly turned market psychology around. One major news service stated, "earnings Thursday showed that if the economy is slowing, many companies are not being affected too much by the downturn". In other words corporate profits have decoupled from the state of the economy. While this may sound completely idiotic, it may not be as absurd as it initially appears to be. If the federal government has spent $3 trillion of borrowed and printed money in the last two years, that money has to have gone somewhere. Either direct or indirect government purchases could be responsible for the current batch of good corporate earnings, although sales to the economically strong economies in East and South Asian are behind better performance for many U.S. companies that do most of their business overseas. So the private sector of the U.S. economy can be dead in the water, but corporate earnings can be good because the government has become such a large component of the economy (as is the case in socialist states). While corporate earnings are up and cash levels are at record highs, the money doesn't seem to be flowing into the general economy. Despite the supposedly great state of corporate America, there are few announcements of major business expansions, nor is hiring picking up. The usual evidence of a robust corporate sector is simply not there. Weekly jobless claims in fact rose 37,000 to 464,000 this week. While 'seasonal adjustments' were cited behind the big increase, weekly claims have been at recessionary (if not depressionary) levels for two years now. Apparently there are negative seasonal factors in winter, spring, summer, and fall. The alternative explanation for today's big stock market rally, despite major gloomy news, is the not so invisible hand of government manipulation. Bernanke made it clear early on that he was more than willing to interfere in the markets. When the Fed began its rate lowering campaign in August 2007, it did so one hour before monthly futures expired and this created a huge rally that wiped out the profits of the shorts (and gave a huge gift to the parties that were on the other side of the trade - the big Wall Street banks perhaps?). More recently, the Fed created a huge global liquidity facility on May 9th, after the Flash Crash, and markets soared - at least for a while. Since there are major elections in the fall, investors should assume that powers that be will not want a crashing stock market and the announcement of a new recession. It will be interesting to see how they try to cover this up. Disclosure: No positions

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy'   Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone. Investors are walking tall again today, with the Dow soaring on awesome economic and corporate numbers, after an afternoon yesterday that sent us running to our bedrooms in tears. It’s enough to remind some people of the bad old days of braces and lockers and high-school crushes. Like Pimco managing director and portfolio Saumil Parikh, for instance, who used the Pimco blog to pen a heartfelt diary entry on what he called America’s “teen drama economy.” In it, Parikh calls on U.S. policymakers to be the grown-up in the room, even as screaming investors clamor for someone – anyone, the Fed, the White House, Congress – to offer a quick fix now. Sure, throwing a few sops to the economy may help markets prop up in the short run, but Parikh’s thinking a little more revenge of the nerds: buckle down and make the tough decisions that don’t win you friends. “The risk of another U.S. recession is increasing,” Parikh writes. “The question remains whether policymakers possess the courage necessary to make difficult structural changes.” That means making the kind of choices that are most likely to get you shoved into a locker after gym class: introducing a federal value-added tax, taxing residential energy consumption and tightening credit standards, for instance. Longer-term, Parikh has a litany of pressing issues to address: weaning the economy off its dependence on consumption, nurturing creative (ie. non-housing) industries, attracting the world’s brightest to counter a demographic decline, guarding intellectual property and rethinking our energy situation. “Much in the same way that every high school teacher — or for that matter every parent of a teenager in high school — is eventually confronted with the difficult choice between courage and popularity in dealing with difficult situations, U.S. policymakers are now confronted with a difficult choice between making structural changes and addressing cyclical demand,” Parikh says. Easier said than done, he’ll grant, but with the economic recovery under siege, the time to act is now: in the long run, as perhaps in life after high school, “courage will trump popularity.”

YAHOO [BRIEFING.COM]:’ … Keeping a focus on the economy, the latest initial jobless claims count climbed 37,000 week-over-week to 464,000, which is more than the 445,000 initial claims that had been widely expected. Continuing claims dropped 223,000 week-over-week to just below 4.49 million, but that is likely due to the expiration of jobless benefits. To help support unemployed workers, the House approved today a bill to extend jobless benefits. As for housing, existing home sales for June fell 5.1% month-over-month to an annualized rate of 5.37 million units. That is a better rate than the 5.09 million units that had been widely expected. News that total months supply climbed to 8.9 from 8.3 was disregarded. Leading indicators for June got little attention. They reportedly slipped 0.2%, which is slightly less severe than the 0.4% decline that had been widely expected…’

Why I'm Not Going to Be Long Stocks in the Near Future Oaktree's Howard Marks writes one of the must read quarterly letters (embedded below). This one is a bit lengthy, including many extended quotes from mainstream sources, but there are a few tidbits that resonate soundly with me.First of all, page 5, which describes the basic unsustainable characteristics common in many global economies. More importantly, Marks's conclusion, on page 17, where he notes:

bottom line: anyone who invests today in a pro-risk fashion out of belief in the recovery must be confident that he'll be agile enough to take profits before the long term realities set in.

I've used the term "reality" many times to answer the question "why are markets down today?" And Marks's quote perfectly describes why I'm not going to be majorly long stocks any time in the near future: 1) I think reality is much lower, and 2) I don't think I am agile enough to pass the grenade once the pin is pulled.

US financial system support up $700 bln in past year-watchdog Increased housing commitments swelled U.S. taxpayers’ total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday.

No Wonder the Outlook for the Economy is “Unusually Uncertain” … the Fed is Killing It Fed Chairman Ben Bernanke testified today that the outlook for the economy is “unusually uncertain”.

Michigan Says Enough To Fed: Takes Matters Into Own Hands As It Starts Using Own Currency…And Gold Either in anticipation of QE2 which will cut the value of the dollar by another 50% once another $2 trillion in toxic crap becomes the “assets” backing the viability of the dollar, or just because they are sick of Fed policies, mid-Michigan has taken monetary matters into their own hands, and in one simple act, completely bypassed the destabilizing influence of the domestic currency printers.

Faith in Social Security system tanking

Bernanke warns economic outlook ‘uncertain’

Bernanke warns economic outlook ‘uncertain’ AFP | Bernanke told US lawmakers the world’s largest economy would see only “moderate growth, a gradual decline in the unemployment rate, and subdued inflation over the next several years.”

The Scariest Unemployment Graph I’ve Seen Yet Derek Thompson | The median duration of unemployment is higher today than any time in the last 50 years.

Economic Meltdown: The Final Phase Giordano Bruno | Prepare for the worst, because I have no doubt you are liable to see it before the next few years are done.

S&P 500 Turns Back at the 50-Day ... Again For the fourth time since the "flash crash" in early May, the S&P 500 has tried and failed to rally significantly above its 50-day moving average. First, it was debt concerns out of Europe (5/13). Then it was the negative reversal following China's statement to let the yuan appreciate (6/21). Then it was weak earnings reports from the Financials and a weak Michigan Confidence report (7/16). Today, it was Bernanke's testimony that preceded the sell-off …

Stocks Continue to React Negatively to Earnings Reports Last earnings season, stocks reacted very poorly to earnings reports, averaging a one-day decline of 0.7%. This was tied with Q2 '07 and Q3 '08 for the worst reading since at least 2002. So far this season, things haven't gotten much better. The average stock that has released earnings has gone down 0.4% on its report day (the next day if the company reports after the close) …

Michigan Says Enough To Fed: Takes Matters Into Own Hands As It Starts Using Own Currency…And Gold Either in anticipation of QE2 which will cut the value of the dollar by another 50% once another $2 trillion in toxic crap becomes the “assets” backing the viability of the dollar, or just because they are sick of Fed policies, mid-Michigan has taken monetary matters into their own hands, and in one simple act, completely bypassed the destabilizing influence of the domestic currency printers.

Ron Paul: Paper Money Breeds Inflation and Destroys the Currency’s Value On Tuesday, Congressman Paul discussed coinage and asked questions of the director of the U.S. Mint and the president of the Diamond State Depository during a hearing on “The State of US Coins and Currency.”

Leading Chinese Economists Urge Government To Dump U.S. Treasuries, Buy Gold Prominent economists in China are calling for their government to ditch vast holdings of U.S. Treasuries in favour of tangible assets such as gold, a move that would have a far reaching impact on the economy.

One Economic Chart That You Should Permanently Burn Into Your Memory

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.      NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

False Flag Cyber Attack Could Takedown The Internet An increasing clamour to restrict and control the internet on behalf of the government, the Pentagon, the intelligence community and their private corporate arms, could result in a staged cyber attack being used as justification.

US intelligence reliant on ‘contractors’ US intelligence agencies are dangerously dependent on contractors, with 30 per cent of the spy workforce potentially bound to shareholders more than the nation.

Max Keiser: NSA & CIA: The Secret America – Alex Jones Tv Alex talks with film-maker, broadcaster and former broker and options trader Max Keiser. Alex discusses the removal of his video, The Obama Deception, from Google’s YouTube.

Obama Joins UN Effort to Dictate Acceptable Behavior on the Internet Kurt Nimmo | Globalist organization exploits cybersecurity hype to impose “norms of accepted behavior in cyberspace.”

False Flag Cyber Attack Could Takedown The Internet Steve Watson | Billion dollar cybersecurity industry at the forefront of ‘Top Secret America’ complex.

DC Declares War On States Chuck Baldwin | Article IV. Section. 4. of the US Constitution clearly requires Obama to defend America against a very real and dangerous foreign invasion.

The CLEAR Act of Another Federal Land Grab Cassandra Anderson | The CLEAR Act’s funding for private property purchase by the federal government is just one part of the machinery that is overtaking America’s private land.

The Roaring Voice Of The Truth Movement Cannot Be Silenced Through Censorship Anthony Gucciardi | Internet censorship has been extremely prevalent in the past few years, with Infowars and Prison Planet being blocked by filters around the world.

Gold Coin Sellers Angered by New Tax Law ABC News | Those already outraged by the president’s health care legislation now have a new bone of contention — a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.

Draft Law Revives Practice of Soviets New York Times | Draft law allows country’s intelligence service to warn citizens their activities could lead to a future violation of the law, reviving a Soviet-era KGB practice often used against dissidents.

Group Calls for Hearings Into Google’s Ties to CIA and NSA More information has emerged about Google’s relationship with the government and spook agencies (see PR Newswire below). The revelations should come as no surprise.

Video of NAACP Racism Emerges After Resolution Condeming Tea Party Movement Race is a tactic used by the global elite to divide and conquer the masses and pit them against each other. A prime example of this tactic in action is the recent NAACP passage of a resolution condemning alleged and unsubstantiated racism in the Tea Party movement.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo An Infowars.com poll posted last week reveals that nearly 60% of respondents believe the United States is headed for a “road warrior” economic depression.

Absent from the following two headlines is the fact of Google’s NSA connection:

Google Spies, Censors Users Following the censorship and deletion from Youtube of a viral upload of Alex Jones’ seminal documentary, ‘The Obama Deception’, as well as a surge in google searches of the term, it has now become clear that the search engine giant is blocking specific terms related to the film.

Obama Deception Censorship Draws Major Response Thanks to our dedicated readers and listeners, within twenty minutes of Alex Jones’ Sunday show ending where the news broke of The Obama Deception being taken off YouTube, three of the top ten Google Trend search terms were held by Infowars, Fall of the Republic, and The Obama Deception Censored.

Modern Political Prisoners in America Szandor Blestman | The federal government needs to be recognized for the monstrous mechanism of tyranny it has become.

Deleted Obama Deception movie Restored after Google nailed with calculated search blitz Andrew Steele | If deleting Jones’ films was a test balloon sent up by Google to gauge what kind of response such an action would invite, it got its answer.

Seep Detected Near Capped US Oil Well The US government has ordered BP to provide plans to remove the containment cap after a seep was detected near the ruptured oil well in the Gulf of Mexico.

netanayahu admits on video he deceived US to destroy Oslo accord The contents of a secretly recorded video threaten to gravely embarrass not only Benjamin netanayahu, the Israeli prime minister but also the US administration of Barack Obama.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm            Alex Jones Talks About Cannibalism in History and the Viggo Mortensen film ‘The Road’        `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

Drudgereport: `CHARLIE RANGEL CHARGED`         `WILL FACE TRIAL`
`RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...`
`Buchanan: Obama team's panic over losing whites...`
`POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama... PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... PAPER: The Tax Tsunami On The Horizon... NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing... NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...`

7-21-10

Business / Economic / Financial

Stocks drop as Bernanke warns of uncertain economy (AP) One of those daaah moments courtesy of ‘no recession helicopter ben fed’! On the positive side, however, at least a semblance of reality is extent as opposed to stroking the frauds on wall street to facilitate their churn-and-earn high frequency trade scams (those lofty fraudulent peaks provide room to trade in and are great to sell into).         Bernanke 'uncertain' about economy's outlook The Federal Reserve chairman says the outlook for the economy is “unusually uncertain” and that the central...        Bernanke's economy comment batters market (Reuters) - Reuters - Federal Reserve Chairman Ben Bernanke's dour assessment of the U.S. recovery hit stocks on Wednesday, as his comment that the economy faced "unusually uncertain" prospects rattled investors.

Bernanke warns economic outlook ‘uncertain’ AFP | Bernanke told US lawmakers the world’s largest economy would see only “moderate growth, a gradual decline in the unemployment rate, and subdued inflation over the next several years.”

The Scariest Unemployment Graph I’ve Seen Yet Derek Thompson | The median duration of unemployment is higher today than any time in the last 50 years.

Economic Meltdown: The Final Phase Giordano Bruno | Prepare for the worst, because I have no doubt you are liable to see it before the next few years are done.

S&P 500 Turns Back at the 50-Day ... Again For the fourth time since the "flash crash" in early May, the S&P 500 has tried and failed to rally significantly above its 50-day moving average. First, it was debt concerns out of Europe (5/13). Then it was the negative reversal following China's statement to let the yuan appreciate (6/21). Then it was weak earnings reports from the Financials and a weak Michigan Confidence report (7/16). Today, it was Bernanke's testimony that preceded the sell-off …

Stocks Continue to React Negatively to Earnings Reports Last earnings season, stocks reacted very poorly to earnings reports, averaging a one-day decline of 0.7%. This was tied with Q2 '07 and Q3 '08 for the worst reading since at least 2002. So far this season, things haven't gotten much better. The average stock that has released earnings has gone down 0.4% on its report day (the next day if the company reports after the close) …

Michigan Says Enough To Fed: Takes Matters Into Own Hands As It Starts Using Own Currency…And Gold Either in anticipation of QE2 which will cut the value of the dollar by another 50% once another $2 trillion in toxic crap becomes the “assets” backing the viability of the dollar, or just because they are sick of Fed policies, mid-Michigan has taken monetary matters into their own hands, and in one simple act, completely bypassed the destabilizing influence of the domestic currency printers.

Ron Paul: Paper Money Breeds Inflation and Destroys the Currency’s Value On Tuesday, Congressman Paul discussed coinage and asked questions of the director of the U.S. Mint and the president of the Diamond State Depository during a hearing on “The State of US Coins and Currency.”

Leading Chinese Economists Urge Government To Dump U.S. Treasuries, Buy Gold Prominent economists in China are calling for their government to ditch vast holdings of U.S. Treasuries in favour of tangible assets such as gold, a move that would have a far reaching impact on the economy.

One Economic Chart That You Should Permanently Burn Into Your Memory

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

False Flag Cyber Attack Could Takedown The Internet An increasing clamour to restrict and control the internet on behalf of the government, the Pentagon, the intelligence community and their private corporate arms, could result in a staged cyber attack being used as justification.

US intelligence reliant on ‘contractors’ US intelligence agencies are dangerously dependent on contractors, with 30 per cent of the spy workforce potentially bound to shareholders more than the nation.

Max Keiser: NSA & CIA: The Secret America – Alex Jones Tv Alex talks with film-maker, broadcaster and former broker and options trader Max Keiser. Alex discusses the removal of his video, The Obama Deception, from Google’s YouTube.

Obama Joins UN Effort to Dictate Acceptable Behavior on the Internet Kurt Nimmo | Globalist organization exploits cybersecurity hype to impose “norms of accepted behavior in cyberspace.”

False Flag Cyber Attack Could Takedown The Internet Steve Watson | Billion dollar cybersecurity industry at the forefront of ‘Top Secret America’ complex.

DC Declares War On States Chuck Baldwin | Article IV. Section. 4. of the US Constitution clearly requires Obama to defend America against a very real and dangerous foreign invasion.

The CLEAR Act of Another Federal Land Grab Cassandra Anderson | The CLEAR Act’s funding for private property purchase by the federal government is just one part of the machinery that is overtaking America’s private land.

The Roaring Voice Of The Truth Movement Cannot Be Silenced Through Censorship Anthony Gucciardi | Internet censorship has been extremely prevalent in the past few years, with Infowars and Prison Planet being blocked by filters around the world.

Gold Coin Sellers Angered by New Tax Law ABC News | Those already outraged by the president’s health care legislation now have a new bone of contention — a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.

Draft Law Revives Practice of Soviets New York Times | Draft law allows country’s intelligence service to warn citizens their activities could lead to a future violation of the law, reviving a Soviet-era KGB practice often used against dissidents.

Group Calls for Hearings Into Google’s Ties to CIA and NSA More information has emerged about Google’s relationship with the government and spook agencies (see PR Newswire below). The revelations should come as no surprise.

Video of NAACP Racism Emerges After Resolution Condeming Tea Party Movement Race is a tactic used by the global elite to divide and conquer the masses and pit them against each other. A prime example of this tactic in action is the recent NAACP passage of a resolution condemning alleged and unsubstantiated racism in the Tea Party movement.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming An Infowars.com poll posted last week reveals that nearly 60% of respondents believe the United States is headed for a “road warrior” economic depression.

Absent from the following two headlines is the fact of Google’s NSA connection:

Google Spies, Censors Users Following the censorship and deletion from Youtube of a viral upload of Alex Jones’ seminal documentary, ‘The Obama Deception’, as well as a surge in google searches of the term, it has now become clear that the search engine giant is blocking specific terms related to the film.

Obama Deception Censorship Draws Major Response Thanks to our dedicated readers and listeners, within twenty minutes of Alex Jones’ Sunday show ending where the news broke of The Obama Deception being taken off YouTube, three of the top ten Google Trend search terms were held by Infowars, Fall of the Republic, and The Obama Deception Censored.

Modern Political Prisoners in America Szandor Blestman | The federal government needs to be recognized for the monstrous mechanism of tyranny it has become.

Deleted Obama Deception movie Restored after Google nailed with calculated search blitz Andrew Steele | If deleting Jones’ films was a test balloon sent up by Google to gauge what kind of response such an action would invite, it got its answer.

Seep Detected Near Capped US Oil Well The US government has ordered BP to provide plans to remove the containment cap after a seep was detected near the ruptured oil well in the Gulf of Mexico.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

netanayahu admits on video he deceived US to destroy Oslo accord The contents of a secretly recorded video threaten to gravely embarrass not only Benjamin netanayahu, the Israeli prime minister but also the US administration of Barack Obama.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:` `[see infra] and` [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

Drudgereport: `POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...`
`Whites, Independents Deserting Obama...`

`37 States Join GOOGLE Investigation...`

`BAILOUT REACHES $3.7 TRILLION...`
`Gov't watchdogs: Mortgage program not working...`
`Bernanke: 'Unusually Uncertain'...`
`Unemployment rate high through Obama term...`

`REVEALED: Secret Gold Coin Tax Slipped Into Health Care Law... NYT THURS: Confidential documents provide detailed look at what happened before night of oil explosion... Developing...`

7-20-10

Business / Economic / Financial

Stocks rally on worse than expected bad news or nothing at all. It’s fundamentals, economic and financial, that ultimately count, all of which are bad and worse than expected; but , in the meantime, the wall street frauds are like termites eating away at the nations foundation with lightning fast computerized trade programs, all of which excessively huge commission churn / earn revenues are a net negative for the economy in real economic terms which is evidenced by unprecedented economic decline in all productive sectors of the economy. This is a great opportunity to SELL / TAKE PROFITS since this suckers rally to suck suckers in and keep them sucked in is based on fraud and b* s* alone and: ‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

‘YAHOO [BRIEFING.COM]: The stock market turned a 1% loss into a 1% gain Tuesday. The swing wasn't inspired by any particular piece of news, but came gradually as sellers slowed their efforts in the face of technical support, which eventually gave way to short covering …’

1929 Peak Versus 2000 Peak? ‘In a post yesterday, we questioned whether the Dow was really in the midst of repeating a pattern it went through in the early part of the Great Depression. The post got a few comments suggesting that we make a different comparison:

You should really plot what Louise Yamada has been saying for a long long time. She says that the entire market episode from 1928 to 1945 is being repeated all over again if you start your clock in 1999. By that count, the current year corresponds to 1939. It will be great if you could plot these charts. If Louise is right, and past is the prelude, then we are in for choppy market action for another five or six years.

I agree with the comment about Louise's assessment, especially if you use the Nasdaq composite from 1999 vs the Dow from 1929. I believe it's a fairer comparison as our economy today is more technology based, whereas it was industrial based in the 30's.

You're comparing the wrong time frames. Compare starting at DOW at 1929 and DOW at 2000, then look at the chart…’**

The Path To Profligacy … Things That Cannot Be -Talk about unsustainable. The next chart is one of something that cannot be. The U.S. cannot borrow $15 trillion in the next ten years. It's just not there. Long before that, the bond market will simply rebel, rates will rise, and the aftermath will make the last crisis seem like a cakewalk …

Equities End at Day's Highs Midnight Trader 4:37 PM, Jul 20, 2010 --

NYSE up 80 (+1.2%) to 6,820.04

DJIA up 75.53 (+0.7%) to 10,230

S&P 500 up 12 (+1.1%) to 1,083

Nasdaq up 24.3 (+1.1%) to 2,222

GLOBAL SENTIMENT

Hang Seng up 0.86%

Nikkei down 1.15%

FTSE down 0.17%

UPSIDE MOVERS
(+) NOK up as WSJ report says CEO search under way.
(+) WFT muscles into higher volume ranks after latest positive
earnings report.
(+) PEP just positive after earnings.
(+) HOG profit jumps vs year-ago quarter.
(+) GS declines then recovers as revenue misses, earnings beat.
DOWNSIDE MOVERS
(-) IBM down after disappointing late-Monday earnings.
(-) TXN down after disappointing evening earnings.
(-) WHR loses early post-earnings gain that followed convincing beat.
(-) ZION continues evening decline after loss misses.
(-) JNJ down after earnings.
MARKET DIRECTION
Stock indexes finish in the upper end of the session's range after falling sharply at the day's start.
A turnaround for Goldman Sachs (GS), which issued mixed earnings early Tuesday, and gains in energy and materials shares were behind the bounce. Disappointing earnings and another sign the housing recovery may be fizzling weighed on stocks earlier.
On the economic front, construction on new housing fell sharply after a federal tax credit for buyers expired. After a 15% drop in May, housing starts fell another 5% in June to a seasonally adjusted annual rate of 549,000, the lowest level in eight months, according to Commerce Department data. The drop was worse than the 3% decline to 575,000 expected by economists surveyed by MarketWatch.
Earnings news continued to dominate headlines.
Goldman Sachs (GS) said second-quarter profit slumped 82%, falling short of analysts' estimates on a slide in trading revenue. The report came five days after the investment bank settled civil fraud allegations with U.S. regulators. Goldman Sachs said Q2 net revenues were $8.84 billion, below the Thomson Reuters mean for $8.93806 billion. EPS were $2.75, less items, better than forecasts for $2.08.
Johnson & Johnson (JNJ) lowered its full-year earnings forecast because of a series of over-the-counter medicine recalls. The drugmaker reported Q2 EPS, excluding items, of $1.21 per share, in line with the analyst mean of $1.21 per share on Thomson Reuters. Total sales were $15.3 billion, shy of the Street view of $15.6 billion. The company updated its earnings guidance for full-year 2010 to $4.65 - $4.75 per share, which excludes the impact of special items. The Street is at $4.80 per share.
Tupperware Brands (TUP) cut back its earnings forecast for this year due to weaker foreign exchange rates. The plastic container maker anticipates earnings for 2010 to be 17 cents lower from its projection in April, at $3.51 to $3.61 a share.
UAL Corp. (UAUA), parent of United Airlines, posted a profit that exceeded analysts' estimates on higher fares and fuller airplanes. UAL said it earned $1.95 per share in Q2, more than the Thomson Reuters mean for $1.75. Operating sales were $5.16 billion, up 28.4% from a year ago.

Crude-oil for August delivery ended up 0.8%, or $0.68, to $77.58 a barrel on the New York Mercantile Exchange.

In other energy futures, heating oil rose 0.9%, or $0.17, to $2.03 a gallon while natural gas rose 1.3%, or $0.06, to $4.56 per million British thermal units.

Meanwhile, gold futures rose as investors saw the precious metal, which has declined in recent weeks, as a bargain.
Gold for August delivery rose $9.80, or 0.8%, to $1,191.70 an ounce. In other metal futures, silver rose $0.15 to $17.69 a troy ounce while copper rose $0.06 to $3 a pound.

The US Will Collapse Before Moody’s Gets Around To Downgrading Its Debt It probably bears worth repeating that if there were much about about Moody’s clout in the sovereign debt arena, it should have be erased today: Moody’s has no clout.

Economic Meltdown: The Final Phase Giordano Bruno | Prepare for the worst, because I have no doubt you are liable to see it before the next few years are done.

Economic Pain For decades, most Americans have enjoyed an extremely high standard of living. In fact, most of us have been “enjoying the high life” and “living the dream” for so long that we have assumed that it is just always going to be that way.

Goldman’s Tourre Wants SEC Case Dismissed Goldman Sachs executive Fabrice Tourre denied fraud and other accusations by U.S. regulators for his role in marketing a subprime mortgage product and asked a court on Monday to dismiss the case.

Leading Chinese Economists Urge Government To Dump U.S. Treasuries, Buy Gold Prominent economists in China are calling for their government to ditch vast holdings of U.S. Treasuries in favour of tangible assets such as gold, a move that would have a far reaching impact on the economy.

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find a war, conflict, new war, etc., to spend it on.The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Group Calls for Hearings Into Google’s Ties to CIA and NSA More information has emerged about Google’s relationship with the government and spook agencies (see PR Newswire below). The revelations should come as no surprise.

Video of NAACP Racism Emerges After Resolution Condeming Tea Party Movement Race is a tactic used by the global elite to divide and conquer the masses and pit them against each other. A prime example of this tactic in action is the recent NAACP passage of a resolution condemning alleged and unsubstantiated racism in the Tea Party movement.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming An Infowars.com poll posted last week reveals that nearly 60% of respondents believe the United States is headed for a “road warrior” economic depression.

Absent from the following two headlines is the fact of Google’s NSA connection:

Google Spies, Censors Users Following the censorship and deletion from Youtube of a viral upload of Alex Jones’ seminal documentary, ‘The Obama Deception’, as well as a surge in google searches of the term, it has now become clear that the search engine giant is blocking specific terms related to the film.

Obama Deception Censorship Draws Major Response Thanks to our dedicated readers and listeners, within twenty minutes of Alex Jones’ Sunday show ending where the news broke of The Obama Deception being taken off YouTube, three of the top ten Google Trend search terms were held by Infowars, Fall of the Republic, and The Obama Deception Censored.

Modern Political Prisoners in America Szandor Blestman | The federal government needs to be recognized for the monstrous mechanism of tyranny it has become.

Deleted Obama Deception movie Restored after Google nailed with calculated search blitz Andrew Steele | If deleting Jones’ films was a test balloon sent up by Google to gauge what kind of response such an action would invite, it got its answer.

Seep Detected Near Capped US Oil Well The US government has ordered BP to provide plans to remove the containment cap after a seep was detected near the ruptured oil well in the Gulf of Mexico.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

netanayahu admits on video he deceived US to destroy Oslo accord The contents of a secretly recorded video threaten to gravely embarrass not only Benjamin netanayahu, the Israeli prime minister but also the US administration of Barack Obama.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:[see infra] and`[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

DRUDGEREPORT: `Arab guilty of rape after consensual sex with Jew...` `‘`An Israeli man of Arab origin has been convicted of rape after having consensual sex with a woman who had believed him to be a fellow Jew. Sabbar Kashur, 30, was sentenced to 18 months in prison on Monday after the court ruled that he was guilty of rape by deception. According to the complaint filed by the woman with the Jerusalem district court, the two met in downtown Jerusalem in September 2008 where Kashur, an Arab from East Jerusalem, introduced himself as a Jewish bachelor seeking a serious relationship. The two then had consensual sex in a nearby building before Kashur left. When she later found out that he was not Jewish but an Arab, she filed a criminal complaint for rape and indecent assault …’

7-19-10

Business / Economic / Financial

Homebuilder confidence falls Bizjournals.com - The DC-based National Association of Home Builders' monthly Housing Market Index, which measures confidence among its members, fell to a 15-month low this month. Home-Builder Confidence Drops Wall Street Journal Homebuilder Confidence in US Falls to Lowest Level in a Year BusinessWeek

Cap on oil well kept shut despite leaks, seepage The Associated Press - ‎NEW ORLEANS - The federal government Monday allowed BP to keep the cap shut tight on its ruptured Gulf of Mexico oil well for another day despite news the well is leaking at the top and something is seeping from the sea floor nearby

Examining the Chances of a Market Crash Before the Mid-Term Elections Smit: ‘ If history is any guide, the U.S. stock market will continue falling right into the November elections, decimating any Democratic argument that their party has energized the economy. Given this potential for an electoral drubbing, we can expect massive intervention to prop up the market. Will the stock market tank heading into the 2010 mid-term election? History suggests yes, but my contrarian sense has some doubts. Correspondent/analyst B.C. recently posted a chart on his excellent weblog Imperial Economics which shows that historically, stocks decline in the second year of presidential terms: (chart) …A second chart maps the Nikkei stock index from its 1989 bubble top, the Great Depression-era S&P 500, the NASDAQ dot-com bubble and pop, and the Shanghai stock index's 2007 peak and decline. Once again, this chart suggests that the 2010 election will occur in a stock market trough: (chart) … The black line is the NASDAQ, which peaked in early 2000 (around month 115) and hit bottom in March 2009 about nine years later (around month 225). It topped out in late April 2010 and has been sliding since. If it tracks the other historical indices shown, it will decline for another 36 months (mid-2013).I have annotated the following chart of the great Bear Market of 1966-1982 to show the presidential elections and the mid-term elections. Rather strikingly, the stock market reached peaks around each presidential election and fell to lows around each mid-term election: (chart) … Meanwhile, the U.S. economy is tanking. B.C. kindly offered up this chart of the ECRI's WLI growth rate, which is dropping to recession levels. (chart) … This is the backdrop for either a mini-crash or a full-blown crash of the stock market--something which occurred with alarming regularity in the last Great Bear Market, and even earlier Bear markets, around mid-term elections. On the other hand, the Obama Administration and the Democratic Congress have faithfully carried Wall Street and the "too big to fail" money-center banks' water since taking office in 2009. Treasury Secretary Geithner, Federal Reserve Chairman Ben Bernanke, Wall Street and the big banks have gotten everything they wanted, with only modest window-dressing of "reforms" for public consumption. While the Democratic lackeys did the heavy work, the Republican toadies were content to run interference for the bankers, proclaiming their resistance to any reform which would place a burden on business as usual. (Not to Repub obstructors: exactly what were the consequences to the U.S. economy of the financial deregulation you lauded so warmly over the past decade? It crashed.)

Economic Meltdown: The Final Phase Giordano Bruno | Prepare for the worst, because I have no doubt you are liable to see it before the next few years are done.

Real Jobs, Fake Jobs LewRockwell.com | In many ways, the unemployment numbers are much worse than they appear.

The Bear Is Back   Graham Summers ‘… What’s truly staggering is that this collapse occurred in spite of yet ANOTHER Fed liquidity pump last week. As I mentioned in last week’s article concerning the Fed’s unpublicized continued Quantitative Easing efforts, Ben Bernanke has been actively juicing the market EVERY options expiration week in the last year. Last week was no exception with the Fed buying $10 billion worth of mortgage-backed securities, increasing its balance sheet by almost $9 billion. In spite of this, stocks came totally unhinged Friday, slicing through support at 1,080 and 1,070 like a hot knife through butter … So while we may have a bounce here and there, the trend remains decisively DOWN. … we’re going to sub-1,000 on the S&P 500 within a matter of weeks (possibly days if investors realize that it’s GAME OVER for the market rally started March 2009). Even if the Fed DOES announce another Quantitative Easing Program, the effects will be minimal because:
1) The US will be alone in the Stimulus Efforts (China and Europe are issuing austerity measures).
2) Everyone will KNOW the Fed is out of bullets (bullets which didn't work last time either).
3) The Dollar will collapse, inducing an inflationary Depression (we’re already in one as evinced by the jobs numbers an increased cost of living, however, another QE round will worsen the inflation).
Thus it’s GAME. SET. MATCH. for Bernanke’s reflation efforts. We’re only two and a half months into the decline and stocks are already back to September 2009 levels.’

China's Credit Agency Downgrades America: Is World Responding to Sinking Optimism Among U.S. Investors?

Ireland’s credit rating downgraded by Moody’s Irish Times | Credit agency Moody’s has downgraded Ireland’s government bond ratings to Aa2, blaming banking liabilities, weak growth prospects and a substantial increase in the debt to GDP ratio.

Stress-testing Europe’s banks won’t stave off a deflationary vortex Euroland’s authorities are inflicting a triple shock of fiscal, monetary, and currency tightening on a broken economy. They are doing so in a region where industrial output is still 14pc below its peak, where growth barely scraped above zero over the winter “recovery”, and where youth unemployment is at 40pc in Spain, 35pc in Slovakia, 29pc in Italy, and 26pc in Ireland.

John Taylor Says The Euro Is Like A “Headless Chicken”, States Prop Trading Makes Up 80% Of Goldman’s Revenue John Taylor is his usual painfully forthright, objective and candid self in this must read Capital.de interview in which he analyzes the prospects before Europe (not good), and compares the Euro to a “chicken, with a severed head running across the yard before it dies.”

The Sovereign Debt Supercycle Will Keep Getting Worse Until Something Breaks I have been writing about The End Game for some time now. And writing a book of the same title. Consequently, I have been thinking a lot about how the credit crisis evolved into the sovereign debt crisis, and how it all ends.

Market Going Down With the Ship? Montgomery: ‘This morning the Baltic Dry Index, a measure of freight rates for international shipping, was at 1700. It hasn't been at this level since April 2009, only four months after its Credit Crisis low and only one month after the stock market was at its bottom. Bloomberg News noted a week ago that the index had dropped continuously for the longest period in nine years. Yes, the current drop in the preceding seven weeks (from a high of 4209 in late May) has been bigger than anything seen during the Credit Crisis. The last drop of this magnitude was in August 2001 in the middle of that year's recession. Lack of shipping activity from China, the engine for global economic activity, was cited as the main cause for the falling index. Charter rates for all types of ships tracked in the index are falling. Prices for dry bulk shipping, which doesn't include energy commodities, tend to be very sensitive to economic activity. A sharp drop in rates indicates a significant drop in global trade. Based on historical charts it looks like the Baltic Index can lead, be coincident or lag movements in economic data and the stock market. The index seems to be most closely correlated with prices of industrial commodities and the industrial sector of the global economy. While this is not the largest component of the U.S. economy (the service sector is four times larger), it is the key sector in developing economies. It was manufacturing though that had the biggest rebound in the U.S. since last year. The service sector has remained lackluster. The stock market will likely be following the Baltic Index down, although perhaps not with such a precipitous decline. The Index has dropped almost 60% since late May. With the exception of the small cap Russell 2000, none of the major stock indices have had even a 20% drop - at least not yet. Disclosure: No positions.’

Time to Focus on Protecting Assets Nussbaum: ‘A popular topic of conversation nowadays is whether or not there will be a double dip recession. Supporting the "no" camp is the rarity of such a thing, pointing out that it has only happened one time in modern history in the early 1980s (I read one thing that said despite what people say, that double dip was recorded as two separate recessions). Supporting the "yes" camp is the employment situation and lately Edward Harrison has been very interested in the ECRI Weekly Leading Index which, if I am reading him correctly, are almost saying double dip. Recessions are typically very bad for equity markets, averaging a 40% decline if memory serves. I've been asked a couple of times in different contexts whether I thought there would be a double dip but really I'm not sure this is the best question. Whether there is technically a double dip or not we have problems with indebtedness, jobs, the banks are still in trouble (I've never thought they were fundamentally sound since this all started) and all the other things you know about and of course this is the "worst financial crisis in 80 years." Double dip or not, these are formidable obstacles that US equities need to overcome and thinking it will take more than two years (my opinion) is quite reasonable. I would again point out that there are quite a few foreign markets that simply do not have these obstacles in front of them. I've been talking about Chile almost since the start of my site. Since the peak of the US market in October 2007 the S&P 500 is down 30% while the IPSA is up 25%. It went down plenty, dropping almost in lockstep with the S&P 500 for about a year to a 30% decline but has been mostly working higher since. If this has been a time to focus on protecting assets, and I believe it has, then certainly one way to protect assets would be to invest in countries with relatively little fundamental connection to the US's obstacles. The other day I made a comment about avoidance as a valid protection strategy so here the point is avoiding a systemically vulnerable economy. I'm glad to let other people devote time to assess the reality of double dip or any other economic event. There are times to let assets grow and a time to protect assets and this continues to be a time to favor protection.’

Fundamental and Technical Indicators Say This Market Should Turn Downward

Dollar Weakens Most in 14 Months Versus Euro on Signs of Economic Slowdown The dollar fell the most against the euro in 14 months and dropped to the lowest level this year versus the yen as economic reports added to evidence that the U.S. recovery is losing momentum.

The Global Double Dip Has Arrived The global economy, artificially boosted since the recession of 2008-2009 by massive monetary and fiscal stimulus and financial bailouts, is headed towards a sharp slowdown this year as the effect of these measures wanes.

Goldman Sachs’ $550m fine no ‘heavy price’ if markets are anything to go by Forget the tough talk from Robert Khuzami, head of the Securities and Exchange Commission. Friday’s initial $7 rise in Goldman Sachs’ share price speaks volumes.

`IRELAND DOWNGRADED`

Fed sends the dollar tumbling Ambrose Evans-Pritchard | The Fed confessed that the US economy may not recover for five or six years.

A slap on the wrist for Goldman Sachs Aljazeera.net | The “great vampire squid wrapped around the face of humanity” agreed to pay $550 million to settle fraud charges.

22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America The 22 statistics that you are about to read prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.

Congress Passes Bankster Consolidation Bill Kurt Nimmo | Financial reform is a three-card Monte scam, a confidence game, a sleight of hand.

Obama-Dodd-Frank FinReg Monstrosity Delays Derivatives Curbs until 2022! Webster G. Tarpley | The utter failure of Wall Street reform means that the door is now wide open for the second wave of the current world economic depression to continue.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

They still know how to count. When you defraud for many billions, paying $550 million is chump change. Goldman to pay $550M to settle civil fraud charges (AP) - Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that accused the Wall Street giant of misleading buyers of mortgage-related investments.        Late stock rally ahead of Goldman settlement news       And the beat goes on!     Goldman Sachs beats the SEC NEW YORK (MarketWatch) – ‘Can Goldman Sachs Group Inc. wheel and deal or what? The bank and brokerage's settlement with the Securities and Exchange Commission on Thursday over the ill-fated Abacus deal may be its best trade ever. At $550 million, it's not terribly expensive. Goldman / quotes / Comstock / 13!gs / quotes / nls /gs (GS 152.19, +6.97, +4.80%) hasn't agreed to restrict its practices in any meaningful way. And poof! The firm can go back to work with its biggest liability paid. Investors are ecstatic, Goldman shares rocketed 5.5% in after-hours trading. No wonder Goldman called it "the right outcome for our firm shareholders and clients." See full story on the SEC settlement. For the regulators, the settlement is more than just anticlimactic. Having bet all of its chips on reversing embarrassing episodes such as the Bernie Madoff fiasco in an aggressive case against Wall Street, the SEC whiffed. Sure, the settlement is the biggest in the agency's history. Yes, the SEC was able to squeeze Goldman on the settlement language and admit it was a "mistake" not to have disclosed Paulson & Co.'s role in picking the ill-fated securities. But come on. Goldman's net income last year was $12.1 billion. It could be even higher this year, given the robust first quarter Goldman already has had. The settlement amounts to less than 5% of profits. Maybe Goldman Sachs will even be able to write it off …’         Goldman pays $550 mln to settle CDO suit with SEC

Chinese rating agency strips Western nations of AAA status London Telegraph

UK public sector debt ‘around £2 trillion’ London Telegraph | The UK’s public sector debt could be £1.13 trillion higher than headline figures suggest, according to research.

Moody’s Cuts Portugal Rating by Two Notches

NATIONAL / WORLD

`Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
854,000 people have top-secret security clearance... You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find a war, conflict, new war, etc., to spend it on.

Absent from the following two headlines is the fact of Google’s NSA connection:

Google Spies, Censors Users Following the censorship and deletion from Youtube of a viral upload of Alex Jones’ seminal documentary, ‘The Obama Deception’, as well as a surge in google searches of the term, it has now become clear that the search engine giant is blocking specific terms related to the film.

Obama Deception Censorship Draws Major Response Thanks to our dedicated readers and listeners, within twenty minutes of Alex Jones’ Sunday show ending where the news broke of The Obama Deception being taken off YouTube, three of the top ten Google Trend search terms were held by Infowars, Fall of the Republic, and The Obama Deception Censored.

Seep Detected Near Capped US Oil Well The US government has ordered BP to provide plans to remove the containment cap after a seep was detected near the ruptured oil well in the Gulf of Mexico.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

Censored Videos Obama Deception, Police State 4 Back on YouTube Matt Ryan | Original embeds of the “ChangeDaChannel” version of The Obama Deception and Police State 4 are working once again.

Fool Me Twice: Biden Says No Exit from Afghanistan Kurt Nimmo | Our rulers plan to keep feeding troops into the meat grinder indefinitely. Come on! How can one cite Lobotomy joe biden for anything but gaffs inasmuch as he really did have part of his brain removed.

The Obama Deception Number 1 on U.S. Google Trends

‘The Obama Deception’ Censored A viral You Tube upload of one of Alex Jones’ most popular feature films ‘The Obama Deception’ has been censored following a spur of the moment campaign to elevate the movie’s title to the top of the major internet search engines.

Censorship Alert: Obama Deception Illegally Removed from You Tube Made to look like a hack, Thought Police Block Mega-Viral Anti-Establishment Documentary After More than a Year of Dominating Viewcounts, Ranking #1 in Search Engines and Waking Up Millions to the False Left-Right Paradigm Perpetuated by Obama.

Public confidence in Obama reaches new low (Washington Post). Six in 10 Americans lack faith in Obama and hold lower esteem for members of Congress, according to the latest Washington Post-ABC News poll. Such stats as this tend to typify scenarios as this where you break every significant campaign promise that got you elected, from endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on wall street, and the growing realization of ‘typical’: Public confidence in Obama reaches new low (Washington Post) Six in 10 Americans lack faith in Obama and hold lower esteem for members of Congress, according to the latest Washington Post-ABC News poll. Such stats as this tend to typify scenarios as this where you break every significant campaign promise that got you elected, from endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on wall street, and the growing realization of ‘typical’:

But still it’s ‘hands off fraudulent wall street’ to theirs, the nation’s, and the world’s detriment. Firms subpoenaed in attempt to regain Fannie, Freddie losses (Washington Post). But there’s a reason:

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored      In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete)        http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda    http://albertpeia.com/esotericagenda.flv

Obama Deception Censorship Draws Major Response Thanks to our dedicated readers and listeners, within twenty minutes of Alex Jones’ Sunday show ending where the news broke of The Obama Deception being taken off YouTube, three of the top ten Google Trend search terms were held by Infowars, Fall of the Republic, and The Obama Deception Censored.

Seep Detected Near Capped US Oil Well The US government has ordered BP to provide plans to remove the containment cap after a seep was detected near the ruptured oil well in the Gulf of Mexico.

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

Censored Videos Obama Deception, Police State 4 Back on YouTube Matt Ryan | Original embeds of the “ChangeDaChannel” version of The Obama Deception and Police State 4 are working once again.

Fool Me Twice: Biden Says No Exit from Afghanistan Kurt Nimmo | Our rulers plan to keep feeding troops into the meat grinder indefinitely. Come on! How can one cite Lobotomy joe biden for anything but gaffs inasmuch as he really did have part of his brain removed.

Gulf Oil Gusher: No Reason to Believe It’s Over Infowars.com | Government and transnational corporations are pathological liars and should never under any circumstance be trusted to tell the truth.

Feds Ignore Due Process, First Amendment, Shut Down Thousands of Blogs Kurt Nimmo | Once again, the Obama administration has violated the Bill of Rights.

Eugenics Alert: UN’s Agenda of Population Control Accelerating Jurriaan Maessen | UN puppets in developing countries continue to speak in the original eugenic tongue.

Botched CIA Kidnapping and the PR War: Has the Agency Lost Its Touch? Patrick Henningsen | Don’t be fooled, don’t be distracted by Brad, Michael, Angelina, Paris or LeBron.

Alex Jones on RT: Government Cyber Invasion RT America | Is the United States government or outside forces the real threat to cyber security?

netanayahu admits on video he deceived US to destroy Oslo accord The contents of a secretly recorded video threaten to gravely embarrass not only Benjamin netanayahu, the Israeli prime minister but also the US administration of Barack Obama.

Rockefeller Study Outlines “Doom Decade”: Life For All But Super Wealthy Will Be Hell On Earth In our leading article today we provide an overview of the nightmare future envisaged by a recent Rockefeller Foundation study which describes a global dictatorship tightly controlled by the world’s elite and super rich.

Congress Passes Bankster Consolidation Bill Change has arrived. But it is not the sort of change imagined by the fawning mobs of 2008 at Obama’s campaign rallies. Obama and Congress have pulled a three-card Monte on the American people. It’s called “financial regulatory reform” and it hands unprecedented power over to the Federal Reserve.

Fed Gets More Power, Responsibility After fending off most challenges to its independence and winning new powers to oversee big financial firms, the Federal Reserve has emerged from a bruising debate on the overhaul of U.S. financial rules as perhaps the pre-eminent regulator in the sector. But that could only bring it added blame if things go wrong again.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:[see infra] and`[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Biggest expansion of government power over banking, markets since Depression Congress approved a rewrite of rules touching every corner of finance, from ATM cards to Wall Street traders, in the biggest expansion of government power over banking and markets since the Depression.

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

`WASHPOST Ombudsman: Why Silence on Black Panther Story?` (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Road Warrior-level collapse imminent: Alex Jones says we must take corrective action now Move towards global currency as U.S. loses status, faces depression and sees dangerous cuts to services as economic instability sets in.

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

DRUDGEREPORT:`WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...`
`854,000 people have top-secret security clearance...`
`IRELAND DOWNGRADED`
`Americans Caught in Mexico -- Allege Abuse...`
`'Hezbollah-like' car bomb kills 4 on Mexican border...`
`Illegal immigrant deaths in Arizona desert soaring...`

`WOBAMA: EAT THE RICH`

`Seep found near 'capped' well...`

`GALLUP: Kagan set for confirmation with lowest support since polling began...`

`Brzezinski Senses 'Malaise' With Obama...`

`Strapped Cities Rent Police, Janitors...`

`5 NATO SOLDIERS KILLED BY HOMEMADE BOMBS IN AFGHANISTAN...`
`PAPER: All Brit Troops out by 2014 …Ho Hum… Sounds like a plan .. We’ve heard before ...`

`Army suicides hit record number in June...`

`WASHPOST Ombudsman: Why Silence on Black Panther Story?`

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Road Warrior-level collapse imminent: Alex Jones says we must take corrective action now Move towards global currency as U.S. loses status, faces depression and sees dangerous cuts to services as economic instability sets in.

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

7-16-10

ECONOMIC / FINANCIAL

Regulators shut banks in Fla,(3) Mich,(1) SC(1) Total 2010 (96) (AP)       Financial stocks post worse loss since late May        Equities Tumble, Pressured by Earnings, Consumer Sentiment          Stock Indexes Slip Below Support Levels

Still great opportunity to sell / take profits since much worse, also called reality beyond the b* s, to come.

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

EQUITIES TUMBLE, PRESSURED BY EARNINGS, CONSUMER SENTIMENT** Midnight Trader 4:04 PM, Jul 16, 2010 --

DJIA down 261.49 (-2.52%) to 10,356.20

S&P 500 down 31.61 (-2.88%) to 1,064.87

Nasdaq down 70.03 (-3.11%) to 2,179.05

GLOBAL SENTIMENT

Hang Seng down 0.03%

Nikkei down 2.86%

FTSE down 1.01%

DOWNSIDE MOVERS
(-) C beats with Q2 EPS, meets with revenue.
(-) BAC results below year-ago levels, EPS does beat Street.
(-) GOOG continues evening decline after mixed results.
(-) VVUS sees continued sharp decline in response to FDA panel ruling
against diet drug.
(-) GE down but off worst levels; beat with Q2 results.
(-) BP says leaking well is capped but officials cautious.
(-) MAT misses with earnings.
UPSIDE MOVERS
(+) GS settles with SEC over CDO charges.
(+) ARNA gains on negative ruling for rival VVUS diet drug.
MARKET DIRECTION
A batch of mixed earnings reports from the likes of GE (GE), Bank of America (BAC), Citigroup (C) and Google (GOOG) combined with a deeper-than-expected drop in consumer sentiment to drive stocks lower on Friday. The banks were the prime driver behind the earnings-driven declines as investors worried over lower trading revenue at the financial firms. On the consumer sentiment side, consumers were much more pessimistic in July as the University of Michigan sentiment index slumped to 66.5 from 76. Expectations were for a reading of 74.3. The consumer-price index also dropped to a seasonally adjusted 0.1%, the third straight monthly decline, according to Labor Department report this morning, fueling concerns about deflation. But the more closely followed core rate rose 0.2%. It excludes volatile food and energy prices and is seen as a better gauge of inflation. Economists surveyed by MarketWatch had predicted a flat reading in overall consumer prices and a 0.1% increase in the core rate. Earnings season kicks into high gear next week as a hefty crop of top names report quarterly financials. On Monday, IBM (IBM) and Texas Instruments (TXN) are due with numbers, followed by Apple (AAPL), Goldman Sachs (GS), Harley-Davidson (HOG) and Yahoo (YHOO) on Tuesday. eBay (EBAY), Morgan Stanley (MS), Netflix (NFLX), Qualcomm (QCOM) and Starbucks (SBUX) are slated to post financials on Wednesday. On Thursday, traders will see quarterly results from Amazon.com (AMZN), Caterpillar (CAT), Microsoft (MSFT) and UPS (UPS), followed by McDonald's (MCD) and Verizon (VZ) on Friday. On the economic front, data flow is light next week, with building permits and housing starts due for release Tuesday, followed by crude inventories on Wednesday. Initial claims, existing home sales and leading indicators will be distributed on Thursday. Elsewhere in today's market, BP Plc (BP) said its damaged Gulf of Mexico well, which has gushed crude since April had showed no signs of oil leaks since the company tightened a new cap into place, The New York Times reported. A BP executive said that pressure had built up inside the well as BP engineers had predicted and hoped it would. Bank of America (BAC) and Citigroup (C) shares declined even as both banks posted better-than-expected results on lower credit losses after investors saw challenges for the two banks to raise revenue in a tough economy, Reuters reports. Vivus Inc. (VVUS) was hammered lower after an FDA panel voted against its diet pill, Qnexa, due to concerns about serious side effects. Goldman Sachs (GS) bucked the broader market and the banking sector, up 2% on the heels of its deal with the Securities and Exchange Commission to settle a civil fraud suit for $550 million. Crude-oil for August delivery ended down 0.8%, or $0.61, to $76.01 a barrel on the New York Mercantile Exchange. In other energy futures, heating oil fell 0.41%, or $0.05, to $2.01 a gallon while natural gas fell 1.1%, or $0.05, to $4.53 per million British thermal units. Meanwhile, gold futures fell to their lowest level since May. Gold for August delivery fell $20.10, or 1.7%, to $1,188.20 an ounce. In other metal futures, silver fell $0.51, or 2.8%, to $17.85 a troy ounce while copper fell 3% to $2.93 a pound.

CNBC Host Accuses Guest Of Just Trying To Scare The Crap Out Of Everyone CNBC’s Simon Hobbs fought it out with Michael Pento today about the reality of the current economic situation in the U.S.

Real Jobs, Fake Jobs In many ways, the unemployment numbers are much worse than they appear. One factor has been the timing of the US census.

Charles Nenner: “Long-Term Investors Should Wait Until Dow Hits 5,000″ Charles Nenner, who prior to founding the Charles Nenner Research Institute served as a technical analyst for Goldman for about 10 years, has been looking at charts and not seeing much to write home about.

Martin Feldstein: Bilderberg’s promoter of equity on adjustable-rate mortgages and the Subprime Mortgage Crisis Make it Eight, eh? | In late 2007, as the housing crisis was hitting a peak, would Martin Feldstein be gearing up to suggest further reductions in interest rates to promote consumption?

Fed sends the dollar tumbling Ambrose Evans-Pritchard | The Fed confessed that the US economy may not recover for five or six years.

A slap on the wrist for Goldman Sachs Aljazeera.net | The “great vampire squid wrapped around the face of humanity” agreed to pay $550 million to settle fraud charges.

22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America The 22 statistics that you are about to read prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.

Congress Passes Bankster Consolidation Bill Kurt Nimmo | Financial reform is a three-card Monte scam, a confidence game, a sleight of hand.

Obama-Dodd-Frank FinReg Monstrosity Delays Derivatives Curbs until 2022! Webster G. Tarpley | The utter failure of Wall Street reform means that the door is now wide open for the second wave of the current world economic depression to continue.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

They still know how to count. When you defraud for many billions, paying $550 million is chump change. Goldman to pay $550M to settle civil fraud charges (AP) - Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that accused the Wall Street giant of misleading buyers of mortgage-related investments.        Late stock rally ahead of Goldman settlement news       And the beat goes on!     Goldman Sachs beats the SEC NEW YORK (MarketWatch) – ‘Can Goldman Sachs Group Inc. wheel and deal or what? The bank and brokerage's settlement with the Securities and Exchange Commission on Thursday over the ill-fated Abacus deal may be its best trade ever. At $550 million, it's not terribly expensive. Goldman / quotes / Comstock / 13!gs / quotes / nls /gs (GS 152.19, +6.97, +4.80%) hasn't agreed to restrict its practices in any meaningful way. And poof! The firm can go back to work with its biggest liability paid. Investors are ecstatic, Goldman shares rocketed 5.5% in after-hours trading. No wonder Goldman called it "the right outcome for our firm shareholders and clients." See full story on the SEC settlement. For the regulators, the settlement is more than just anticlimactic. Having bet all of its chips on reversing embarrassing episodes such as the Bernie Madoff fiasco in an aggressive case against Wall Street, the SEC whiffed. Sure, the settlement is the biggest in the agency's history. Yes, the SEC was able to squeeze Goldman on the settlement language and admit it was a "mistake" not to have disclosed Paulson & Co.'s role in picking the ill-fated securities. But come on. Goldman's net income last year was $12.1 billion. It could be even higher this year, given the robust first quarter Goldman already has had. The settlement amounts to less than 5% of profits. Maybe Goldman Sachs will even be able to write it off …’         Goldman pays $550 mln to settle CDO suit with SEC

NATIONAL / WORLD

Rockefeller Study Outlines “Doom Decade”: Life For All But Super Wealthy Will Be Hell On Earth In our leading article today we provide an overview of the nightmare future envisaged by a recent Rockefeller Foundation study which describes a global dictatorship tightly controlled by the world’s elite and super rich.

Congress Passes Bankster Consolidation Bill Change has arrived. But it is not the sort of change imagined by the fawning mobs of 2008 at Obama’s campaign rallies. Obama and Congress have pulled a three-card Monte on the American people. It’s called “financial regulatory reform” and it hands unprecedented power over to the Federal Reserve.

Fed Gets More Power, Responsibility After fending off most challenges to its independence and winning new powers to oversee big financial firms, the Federal Reserve has emerged from a bruising debate on the overhaul of U.S. financial rules as perhaps the pre-eminent regulator in the sector. But that could only bring it added blame if things go wrong again.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality:   [Neanderthals, Humans Interbred, DNA Proves     Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP)* Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm           `Previously I wrote:     FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:[see infra] and`[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …]    Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Biggest expansion of government power over banking, markets since Depression Congress approved a rewrite of rules touching every corner of finance, from ATM cards to Wall Street traders, in the biggest expansion of government power over banking and markets since the Depression.

7-15-10

ECONOMIC / FINANCIAL

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

LATE MOVE LANDS STOCKS MOSTLY HIGHER, DOW STREAK ENDS*

NYSE up 13.5 (+0.2%) to 6,916.81

DJIA down 7 (-0.07%) to 10,359

S&P 500 up 1 (+0.1%) to 1,096

Nasdaq down 0.8 (-0.03%) to 2,249

UPSIDE MOVERS

(+) GSK gains after WSJ report says FDA panel recommends continued marketing of diabetes drug Avandia.

(+) NTY going private, sold to Carlyle Group for $55 per share.

(+) SKH agrees to stay all legal proceedings.

(+) SNSS gets European patent for Voreloxin with Cytarabine.

(+) NVS gains after earnings.

DOWNSIDE MOVERS

(-) AMZN downgraded.

(-) MFE downgraded.

(-) BMTI prices shares.

(-) JPM reports jump in profit.

MARKET DIRECTION**

Stock averages tried for a full late-day recovery and briefly reclaimed positive ground inside the final minutes. Eventually, averages end narrowly mixed, well off lows struck earlier in the session as investors weighed disappointing economic data against mostly upbeat earnings. The Dow did end its recent win streak at seven sessions but had been down as much as 120 points earlier in the day. Reports cite late day moves for BP (BP), as a test cap on the Gulf spill reportedly is working, and for Goldman Sachs (GS), as speculation of an SEC settlement grew.

Thursday began with earnings-inspired gains but that advance was erased by disappointing economic data.

Stocks gained intially after mostly positive results from JP Morgan Chase (JPM), but even JPM turned lower as trading progressed. CEO Jamie Dimon offered cautious remarks about future economic growth.

Attention shifted to the economy and Wall Street was treated to a round of data.

The steep drops reported Thursday in the Empire State and Philadelphia Fed Manufacturing indexes dented optimism about the manufacturing industry, which had shown the most consistent growth coming out of the recession, the AP said.

The Empire State index fell to 5.08, well below the 18.50 economists had predicted and the 19.57 reported last month. The Philly Fed index dropped to 5.1 for July. Economists had predicted it would rise to 10.0.

The Fed's report on industrial production showed output at the nation's factories, mines and utilities rose by 0.1% in June, better than the 0.1% drop economists forecast.

The Labor Department did say earlier Thursday that initial claims for jobless benefits fell by 29,000 to a seasonally adjusted 429,000, the lowest level since August 2008. Economists polled by Thomson Reuters had predicted claims would drop to 450,000.

Finally, a look at June producer prices showed a deeper-tha-expected 0.5% decline overall. The core rate, which excludes volatile energy and food prices, rose 0.1%, the eighth consecutive monthly gain. Economists surveyed by MarketWatch had expected overall producer prices to fall 0.1% and the core to gain 0.1%.

Commodities were mixed to lower in late trading with gold ending slightly higher and crude ending lower for the day.

Crude oil for August delivery ended down 0.6%, or $0.42, to $76.62 a barrel on the New York Mercantile Exchange.

In other energy futures, heating oil fell 1.28%, or $0.02, to $2.01 a gallon while natural gas rose 6%, or $0.26, to $4.57 per million British thermal units.

Meanwhile, gold futures rose as buyers sought money safe havens.

Gold for August delivery rose $1.30, or 0.1%, to $1,208.30 an ounce. In other metal futures, silver rose $0.07, or 0.38%, to $18.36 a troy ounce while copper rose 0.07% to $3.01 a pound.

U.S. home foreclosures reach record high in second quarter Bank repossessions increased 38% in the second quarter from the same period a year earlier for a record total of 269,952, according to data to be released Thursday by RealtyTrac.

Fed Cuts Growth Outlook That ‘extended period of economic weakness language thing’ sounds like the ‘d’ word, as in depression.

America Stands On The Precipice Of Total Collapse

The jobs gone for good. The facts about this downturn are very grim

Empty Store Shelves Coming to America

Road Warrior-level collapse imminent: Infowars.com says we must take corrective action now

NATION NEWS DIGEST: J.P. Morgan Chase posts $4.8 billion profit (Washington Post) Yet another ‘Come on’ day on fraudulent wall street! This time it’s the unexpected jump in continuing claims for unemployment, yesterday the downward revision to previous market-frothing retail sales report and poor retail sales and plunge in mortgage applications and then there’s the fed minutes pointing to extended bad economy. Then there’s also now the ‘goldfinger factor’ as in goldman’s middle finger. When you defraud for many billions, paying $550 million is chump change. Goldman shares rocketed 5.5% in after-hours trading. No wonder Goldman called it "the right outcome for our firm shareholders and clients." (Absent prosecutions, they’ll continue to do what comes natural to frauds on wall street). Great opportunity to sell / take profits since much worse, also called reality beyond the b* s, to come. Then there’s also the bad but typical news; viz., previous retail sales, mortgage apps, economic outlook down, and continuing claims for unemployment, deficits, trade / budget, up. (Just in: 7-16-10 Poll – only 43% of Americans approve of the Afganistan War, down from 52% in January, 2010)

Pearlstein: Can regulation beget innovation? (Washington Post) I believe the more seminal question to be, whether american companies, consistent with overall american decline and corruption in so pervasive a fashion, are capable of or inclined toward real innovation where enhancements to productivity, as well as greater profits, is the consequence as desired. Certainly there has been ‘innovation’ by the wall street frauds in the types of (ultimately worthless / fraudulent) paper and high frequency trade programs enhancing their bottom-lines but little else; and, those cutting edge ‘weapons of mass destruction’ produced or financed (israel) by america are hardly productive in the economic sense but innovative and profitable in the short run, and unwise and nation-bankrupting in the longer run which we’re in right now!

Goldman agrees to pay $550M (Washington Post) My own skepticism based on the disparate numbers (the size of the frauds compared to the relatively small fine) and as set forth in the initial reactions / headlines that immediately follow has been allayed somewhat by an interview on NBR with former SEC head Ruder who explained the very narrow scope of the settlement which in no way shelters goldman from the huge frauds they have perpetrated. So long as this is true in fact as well as law and in application, the SEC deserves praise as has been so under the auspices of ‘Mother Mary’ who appears to have the gonads lacking in prior SEC heads. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed.

Obama-Dodd-Frank FinReg Monstrosity Delays Derivatives Curbs until 2022! Webster G. Tarpley | The utter failure of Wall Street reform means that the door is now wide open for the second wave of the current world economic depression to continue.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

They still know how to count. When you defraud for many billions, paying $550 million is chump change. Goldman to pay $550M to settle civil fraud charges (AP)* - Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that accused the Wall Street giant of misleading buyers of mortgage-related investments.        Late stock rally ahead of Goldman settlement news       And the beat goes on!     Goldman Sachs beats the SEC NEW YORK (MarketWatch) – ‘Can Goldman Sachs Group Inc. wheel and deal or what? The bank and brokerage's settlement with the Securities and Exchange Commission on Thursday over the ill-fated Abacus deal may be its best trade ever. At $550 million, it's not terribly expensive. Goldman / quotes / Comstock / 13!gs / quotes / nls /gs (GS 152.19, +6.97, +4.80%) hasn't agreed to restrict its practices in any meaningful way. And poof! The firm can go back to work with its biggest liability paid. Investors are ecstatic, Goldman shares rocketed 5.5% in after-hours trading. No wonder Goldman called it "the right outcome for our firm shareholders and clients." See full story on the SEC settlement. For the regulators, the settlement is more than just anticlimactic. Having bet all of its chips on reversing embarrassing episodes such as the Bernie Madoff fiasco in an aggressive case against Wall Street, the SEC whiffed. Sure, the settlement is the biggest in the agency's history. Yes, the SEC was able to squeeze Goldman on the settlement language and admit it was a "mistake" not to have disclosed Paulson & Co.'s role in picking the ill-fated securities. But come on. Goldman's net income last year was $12.1 billion. It could be even higher this year, given the robust first quarter Goldman already has had. The settlement amounts to less than 5% of profits. Maybe Goldman Sachs will even be able to write it off …’         Goldman pays $550 mln to settle CDO suit with SEC

Public confidence in Obama reaches new low (Washington Post). Six in 10 Americans lack faith in Obama and hold lower esteem for members of Congress, according to the latest Washington Post-ABC News poll.

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘`In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’    `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. ):

‘THE OBAMA DECEPTION’

This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For now, spew of oil into Gulf of Mexico is halted (Washington Post) Well, thank God for small favors! I suggest they change that name, ‘integrity test’; that’s doomed to end in failure. Yes, the brits are back. They’ve clogged the well, with help from the ‘usual suspects’, the americans. What precision! What teamwork! Victory at last … riiiiight!

What Does The Financial Reform Bill Do Other Than Being Completely And Utterly Worthless? Is it possible to write a 2,300 page piece of legislation that accomplishes next to nothing and is pretty much completely and utterly worthless? The answer is yes.

U.S. Regulatory Bill Nears Passage With Republican Support The U.S. Senate plans to pass the financial-regulation bill on July 15 as Democrats secured the 60 votes needed to enact the biggest rewrite of Wall Street rules since the Great Depression.

Bloomberg Poll Finds Americans No Longer Drinking Kool Aid, 71% See Economy “Mired In Recession”

Fed Sees Slower Growth Wall Street Journal | Updated forecast to be released Wednesday afternoon with the minutes of the Fed’s late-June policy meeting is likely to show that officials have trimmed their second-half forecasts.

Chinese rating agency strips Western nations of AAA status London Telegraph

UK public sector debt ‘around £2 trillion’ London Telegraph | The UK’s public sector debt could be £1.13 trillion higher than headline figures suggest, according to research.

Moody’s Cuts Portugal Rating by Two Notches

NATIONAL / WORLD

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

24 multinationals move HQ to Shanghai CNTN | Vale, Walt Disney and Kraft Foods have decided to move their regional headquarters to Shanghai.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

House Democrats hit boiling point over perceived lack of White House support House Democrats are lashing out at the White House, venting long-suppressed anger over what they see as President Obama’s lukewarm efforts to help them win reelection — and accusing administration officials of undermining the party’s chances of retaining the majority in November’s midterm elections.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Road Warrior-level collapse imminent: Alex Jones says we must take corrective action now Move towards global currency as U.S. loses status, faces depression and sees dangerous cuts to services as economic instability sets in.

The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Angry And Frustrated The economic frustration of the american people is reaching a fever pitch. Millions of americans can’t seem to get a good job no matter what they do.

DRUDGEREPORT: `Specter's YES Kagan vote; Obama job offer...`

`GIFT TO THE DEMS: BUSH TO RELEASE BOOK FOR ELECTION; LEAKS BEGIN IN OCTOBER... SENATE PA$$ES SWEEPING BANK BILL...`
`Biggest expansion of government power over banking, markets since Depression...`
`REVEALED: Senate VIP Loans Mount...`
`JP MORGANCHASE reports 77% rise in profit...`
`...Banks repossess homes at record pace; likely to top 1 million in 2010...`

7-14-10

ECONOMIC / FINANCIAL

Another ‘Come on’ day on fraudulent wall street! This time it’s the unexpected downward revision to previous market-frothing retail sales report and poor retail sales and plunge in mortgage applications and then there’s the fed minutes pointing to extended bad economy. See Dave Fry’s (Daily) summary below referencing in euphemistic fashion, yet another ongoing manipulation also known as fraud. (Absent prosecutions, they’ll continue to do what comes natural to frauds on wall street). Great opportunity to sell / take profits since much worse, also called reality beyond the b s, to come. Then there’s also the bad but typical news; viz., retail sales, mortgage apps, economic outlook down, and yesterday deficits, trade and budget, up.

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Stick Save Into the Close Wednesday: Dave's Daily ‘**There's a clash between ongoing worse than expected economic data and better than expected earnings. Seasonally, it's generally been a good time for bulls with earnings rolling out. Some, like Intel's Tuesday after the close had their CEO downright giddy. Ironically, the stimulants for Tuesday's rally were earnings reports from Alcoa and CSX, but while nobody was paying much attention both stocks closed flat to mixed. That was weird. Economic data Wednesday revolved around poor Retail Sales data and a continuing implosion in mortgage applications. Also, the Fed Minutes were released showing governors pondering an economic slowdown. The WSJ published an excellent article detailing why individual investors have left stock market sectors leaving it to (ahem) "professionals". This makes manipulative activities easy for Da Boyz. So, with volume light again launching an end-of-day "stick save" prevented indices from doing that "sell thing" that is antithetical to current marching orders. Although the indices finished higher breadth was decidedly negative …’

Fed Cuts Growth Outlook Concerns over Europe, domestic data lead policy-setting committee to tone down 2010 GDP forecast, raise unemployment expectation. The Federal Open Market Committee has a dimmer view of the economic outlook these days, in the wake of the sovereign debt crisis in Europe and mixed data back home. "The FOMC greeted the European crisis and the ensuing soft patch of data with repose," says JPMorgan Chase analyst Michael Feroli. "Nonetheless, the increased sense of downside risk led the committee to conclude that in addition to planning for an exit strategy, some contingency planning for more stimulus would also be prudent, just in case."...

That ‘extended period of economic weakness language thing’ sounds like the ‘d’ word, as in depression.

America Stands On The Precipice Of Total Collapse There can be little doubt that America, along with the west as a whole, is being set up for a total collapse in which life as we know it will be fundamentally altered and rebuilt around a collectivist model managed and controlled by the same criminals who engineered the crisis in the first place.

Are the jobs gone for good? The facts about this downturn are very grim Many readers have been contacting me with reminders that the most important story in America right now – the shockingly high level of long-term unemployment – is about far more than the latest statistics.

Empty Store Shelves Coming to America The National Inflation Association today issued a warning to all Americans that empty store shelves will likely be coming to America as a result of government price controls during the upcoming hyperinflationary crisis.

Road Warrior-level collapse imminent: Alex Jones says we must take corrective action now Infowars.com | The United States as we know it has ended. The nation has lost its credit rating with China, its Dollar reserve status and faces saddling debt and cuts in programs and services.

What Does The Financial Reform Bill Do Other Than Being Completely And Utterly Worthless? Is it possible to write a 2,300 page piece of legislation that accomplishes next to nothing and is pretty much completely and utterly worthless? The answer is yes.

U.S. Regulatory Bill Nears Passage With Republican Support The U.S. Senate plans to pass the financial-regulation bill on July 15 as Democrats secured the 60 votes needed to enact the biggest rewrite of Wall Street rules since the Great Depression.

Bloomberg Poll Finds Americans No Longer Drinking Kool Aid, 71% See Economy “Mired In Recession” According to the latest broad poll conducted by Bloomberg, Americans, except for those on Wall Street of course, have never been more pessimistic on the economy, despite the administration’s efforts to push stocks to 36,000 by Halloween.

Why BP is readying a ’super weapon’ to avert escalating Gulf nightmare In a desperate attempt to stop a huge area of the Gulf ocean floor from possibly rupturing due to subterranean methane gas (leading to a calamity no human has ever seen) BP has ripped a page from science fiction books.

Fed Sees Slower Growth Wall Street Journal | Updated forecast to be released Wednesday afternoon with the minutes of the Fed’s late-June policy meeting is likely to show that officials have trimmed their second-half forecasts.

Chinese rating agency strips Western nations of AAA status London Telegraph | China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings.

UK public sector debt ‘around £2 trillion’ London Telegraph | The UK’s public sector debt could be £1.13 trillion higher than headline figures suggest, according to research.

Moody’s Cuts Portugal Rating by Two Notches CNBC | Moody’s slashed Portugal’s credit rating by two notches to A1, citing a deterioration of the country’s debt ratios and weak growth prospects.

NATIONAL / WORLD

Democrat Levin Demands More Illegal Attacks On Pakistan Kurt Nimmo | Karzai faces the fate of of Vietnamese premier Ngo Dinh Diem, who was murdered in a coup sponsored by the CIA in 1963.

Twelve US-led soldiers killed in 48 hours Press TV | Five more American soldiers have lost their lives in Afghanistan’s volatile south, bringing to 12 the number of foreign soldiers killed over the past 48 hours.

Requiem for the Antiwar Movement Cindy Sheehan | Last week, the Democratically controlled House of Representatives voted to give Barack Obama 33 billion more dollars to prosecute two idiotic and ill-advised wars.

Irregular Warfare Causing the Coalition to Rethink its Entire Approach in Afghanistan Paul Rogers | The big picture is sobering for the United States and its allies.

Top Clinton Official: Only A Terror Attack Can Save Obama A former senior advisor to President Bill Clinton says that the only thing which can rescue Barack Obama’s increasingly tenuous grip on power as his approval figures continue to plunge is a terror attack on the scale of Oklahoma City or 9/11, another startling reminder that such events only ever serve to benefit those in authority.

Cruisin’ for a bruisin’? Contrary to self-delusion, that’s exactly what america’s endless war non-policy has amounted to with nothing but death, destruction, desired increase in heroin trade, and defacto bankruptcy for the u.s. to show for it. Times Square Bomber Vows Revenge in Al-Arabiya Video Washington Post - July 14 (Bloomberg) -- Faisal Shahzad, who pleaded guilty last month to trying to explode a car bomb in New York's Times Square, says in a video that he planned the attack as revenge for the US war in Afghanistan, ...

Obama’s Rhetoric Undermined By On-the-Ground Reality: Afghanistan in Ruins Violence in Afghanistan spiked in 2010 in light of the U.S. “surge,” its targeting of the Taliban, and growing attacks on Afghan civilians.

DRUDGEREPORT: `Europe warns Obama: This relationship not working...`
`House Dems hit boiling point...`
`Pentagon warns Congress: Accounts running dry...`
`Bill Clinton back in White House, holds economic meeting...`
`New Regulations Hit Farmers...`
`Business Groups Air Concerns...`
`Obama Admin OKs First Tax-Funded Abortions Under HealthCare Law...$20 MILLION SPENT ON STIMULUS SIGNS?`

7-13-10

Come on! How many times are they going to discount these earnings which were the so called excuse for market rise many months ago despite the nation-bankrupting cost of same? Great opportunity to sell / take profits since much worse, also called reality beyond the b* s, to come. Then there’s also the bad but typical news; viz., deficits, trade and budget, up.

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

WHICH WAY IS THE MARKET GOING NEXT? Gomes: ‘Having been a technical analyst for the first 10 years of my investing career and a fundamental analyst for the past 15 years, I'm a believer that technical patterns form as fundamentals unfold. As such, if you know something about both, you can confirm both against each other. At this point in time, I see a market that is technically reaching up toward its 200 day moving average (2,250 for the NASDAQ). I also see a 50 day moving average that is threatening to drop below that 200 day moving average. Technically, that is usually a very bad sign for the market. The question is, "will the 50DMA drop below the 200DMA?" I think the answer is inevitably "yes". The thing about the moving averages, is that you can see which points of data are about to fall off. Meanwhile, you can make reasonable assumptions regarding the points of data that will take their place. By doing so, you can construct a range of probabilistic scenarios. In this case, some high numbers are about to come out of the 50DMA, making it go lower. Meanwhile, some low numbers are about to come out of the 200DMA, making it go higher. Since both are VERY close to each other right now, it's safe to assume that the 50DMA will indeed fall below the 200DMA. So, that's probably bad news for the market...technically. Fundamentally, it appears that Q2 turned out well for most companies. However, most of the investing world knows this and stocks have rallied about 8% on the news. Ever hear the saying "buy the rumor, sell the news"? Well, the rumor has been bought and the news is just starting to flow in. This means that we have to look at the NEXT bit of news to figure out what rumor the market will be buying or selling. To me, it's clear that the global economic environment will come back to the front burner as the #1 driver of stock prices...and that's bad news for stocks. A good Q2 does not mean that the future is bright. Rather, I believe that Q2 will represent the peak of earnings health. Starting in Q3, good earnings will become a bit harder to come by. Why?
1) Economic indicators are dropping fast. For all intents and purposes, the unemployment rate has not budged. Meanwhile, store shelves are stocked again, PCs have been upgraded, etc. In other words, the pent-up demand that drove the current rebound has almost run its course. What little remains no longer has the power to drive the economy as it has over the past 18-months.

2) "Follow the money". This is one of the most powerfully simple rules on Wall Street. When money is flowing into the economy (i.e. via lower interest rates or stimulus $$$), it's usually good for stocks..and vice versa. At present, interest rates can't go much lower and the numerous stimulus programs are losing effectiveness. This means that the money is no longer flowing in. Worse yet, the money that was spent is not generally viewed as having been money well spent. This does not bode well for a new stimulus package to come anytime soon. In other words, money is not flowing in AND doesn't appear poised to flow in anytime soon. In fact, state and municipal budgets are being cut (money flowing OUT), while they raise local sales and income taxes (more money flowing out). if federal taxes go up in 2011, as planned, even more money will be flowing out. If you follow that, you should be flowing out of the stock market. In short, barring a new stimulus package of other major money-flowing event, I believe the economy slips back toward recession. Whether or not we double-dip, we will almost certainty slip in that direction.

3) If you follow the money in Europe, you will run for the hills. Europe has decided to spin 180-degrees and shift from stimulus to austerity (if you don't know the definition, look it up -- you'll likely hear it again -- and not just from me). Effectively the opposite of stimulus, austerity will pull money away from the European economies...which tells us to pull money away from stocks. Worse yet, the effect of the EU/IMF bailout is already wearing off. Greek yields are rising again and Portuguese credit ratings have been reduced.

4) Global bubbles are bursting. Most notably, home sales in China and Canada are starting to fall. Remember what happened when the U.S. housing market cracked? That's right -- that's what started this mess in the first place.

5) Politically, this period in time has a tendency to be bad for stocks. There is uncertainty around the mid-year elections...and the market hates uncertainty. Historically, the political picture doesn't become clear until October, at which point we might expect a rally. Until then, expect the democrats to do everything they can to retain their jobs in November. That means, "stop pissing off the public"...and the public seems pretty pissed about how the stimulus $$$ worked out for them (or more accurately, how it DIDN'T work out for them). Thus, the political pressure will lean against further stimulus until after the elections.

The Bottom Line: I believe that the market will start to reflect these concerns very soon. These are real fundamental concerns, which you can see reflected in the technicals. As the market reaches the 50DMA and the 200DMA, it will be inclined to retreat (barring some new, hugely positive news). Meanwhile, the 50DMA is 90%+ likely to cross below the 200DMA, giving the market more reason to retrench. At some point, if the economy sinks far enough and if the market drops far enough, political pressure for more stimulus will mount. At that point, money will flow back into the economy. But that time is not now. Now, money is flowing away like the tide...and so should your invested capital. I'm not always right, but I do my best, based on the information before me. Based on what I see right now, the most logical conclusion is to expect a long, ugly summer for stocks. If I see information that changes that view, I'll be sure to post an update to this post. Disclosure: I have short positions against the market

Public confidence in Obama reaches new low (Washington Post). Six in 10 Americans lack faith in Obama and hold lower esteem for members of Congress, according to the latest Washington Post-ABC News poll. Such stats as this tend to typify scenarios as this where you break every significant campaign promise that got you elected, from endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on wall street, and the growing realization of ‘typical’: Public confidence in Obama reaches new low (Washington Post) Six in 10 Americans lack faith in Obama and hold lower esteem for members of Congress, according to the latest Washington Post-ABC News poll. Such stats as this tend to typify scenarios as this where you break every significant campaign promise that got you elected, from endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on wall street, and the growing realization of ‘typical’:

But still it’s ‘hands off fraudulent wall street’ to theirs, the nation’s, and the world’s detriment. Firms subpoenaed in attempt to regain Fannie, Freddie losses (Washington Post). But there’s a reason:

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘`In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’    `US v. AZ...`    Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.

Then there is the well researched, produced, and informative ‘Esoteric Agenda’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

U.S. Regulatory Bill Nears Passage With Republican Support The U.S. Senate plans to pass the financial-regulation bill on July 15 as Democrats secured the 60 votes needed to enact the biggest rewrite of Wall Street rules since the Great Depression.          Moody’s Cuts Portugal Rating by Two Notches Moody’s slashed Portugal’s credit rating by two notches to A1, citing a deterioration of the country’s debt ratios and weak growth prospects, the ratings agency said Tuesday.        Scientific Proof That High Frequency Trading Induces Adverse Changes In Market Microstructure And Dynamics, And Puts Market Fairness Under Question Up until recently, any debate between proponents and opponents of High Frequency Trading would typically be represented by heated debates of high conviction on either side, with discussions rapidly deteriorating into ad hominem attacks and the producer screaming ‘cut to commercial’ to prevent fistfights.      Chinese rating agency strips Western nations of AAA status London Telegraph | China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings.      Silver’s Historical Correlation with Gold Suggests A Parabolic Top As High As $714 per Ounce! munkee | Almost 70 respected economists, academics, gold analysts and market commentators (see list below) are of the firm opinion that gold is going to go to at least $2,500 if not as high as $10,000.       U.S. Regulatory Bill Nears Passage With Republican Support        Bloomberg | The U.S. Senate plans to pass the financial-regulation bill on July 15 as Democrats secured the 60 votes needed.       UK public sector debt ‘around £2 trillion’ London Telegraph | The UK’s public sector debt could be £1.13 trillion higher than headline figures suggest, according to research.         Moody’s Cuts Portugal Rating by Two Notches CNBC | Moody’s slashed Portugal’s credit rating by two notches to A1, citing a deterioration of the country’s debt ratios and weak growth prospects.       Romanian Recession Deepens on Cuts, BOA Merrill Says Bloomberg | Romania’s recession this year will be deeper than previously seen as the government cut spending and raised the value-added tax to curb a swelling budget deficit.

NAACP Resolution Designed to Wreck Tea Party Movement by Playing Race Card Kurt Nimmo | The Tea Party movement is more popular than either the Democratic or Republican parties, so it must be destroyed.       CNN Host Calls Deadly Terror Bombings “Helpful” To NWO Agenda | CNN host Rick Sanchez let slip a telling admission in response to the deadly bombings in Uganda during his show yesterday.       CNN’s Sanchez: Dead Africans Good for War Against Manufactured Terror Kurt Nimmo | Until the elite can find an alternative — maybe invading aliens? — Muslims stirred up by the CIA, Mossad, and British intelligence will continue their slow burn jihad.

Majority of Americans lack faith in Obama: poll Nearly 60 percent of American voters say they lack faith in President Barack Obama, according to a public opinion poll published on Tuesday.        Cops May No Longer Respond to Crime in Oakland, California Oakland’s police chief is making some dire claims about what his force will and will not respond to if layoffs go as planned.        Bilderberg Corporate Media Mogul Wrote Obama Speech The fact that Barack Obama is nothing more than a corporate sock puppet, a completely hollow vassal being used and manipulated by his globalist controllers to carry out their agenda, has once again been emphasized with the revelation that corporate media mogul and Bilderberg luminary Mortimer Zuckerman wrote one of Obama’s political speeches.

Majority of Americans lack faith in Obama: poll Reuters | Nearly 60 percent of American voters say they lack faith in President Barack Obama, according to a public opinion poll published on Tuesday.       Top anti-war Democrat: Afghanistan war could ‘destroy’ Obama’s presidency Raw Story | An outspoken anti-war Democrat said ongoing US military efforts in Afghanistan could deeply imperil the presidency of Barack Obama and the fortunes of the Democratic Party.        Obama’s debt commission warns of fiscal ‘cancer’ Washington Post | The commission leaders said that, at present, federal revenue is fully consumed by three programs: Social Security, Medicare and Medicaid.

`DRUDGEREPORT: 'White House waving white flag'...`
`Panic button...`
`WIRE: Dems show signs of battle fatigue...`
`Federal deficit gap tops $1 trillion through June...`
`Republicans propose cutting Obama budget...'CREDIBILITY CRISIS'`

If not for the likes of ie., Dell Computer, most (ie., those die hard Mac, Iphone, Ipad, etc., aficionados among others) would say microsoft’s already in the clouds, so to speak. Microsoft takes aim at the cloud (Washington Post)

No help in sight for jobless (Washington Post) Well, from their perspective, they really don’t feel your pain, and, it gives the frauds on wall street another b* s, market frothing, false talking point in the form of ‘fewer continuing claims for unemployment’. Then there’s that ‘ depression thing’.

The big crash — America plunges into Depression Alexander Cockburn

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn, pass the hot potato scam / fraud as in prior crashes.’

Making millions from mowing lawns [Sounds like a plan … riiiiight!] (Washington Post) Value Added | Entrepreneur's reinvestment and diversification … By Thomas Heath   For the less entrepreneurial at heart there’s always … flippin’ burgers … Washington, D.C.: the nation's (burger) capital? (Washington Post) | ‘The Washington area has emerged as fertile ground for ground chuck …’     Survey: A satisfied federal workforce (Washington Post) Indeed they should be since they’re totally expendable and a waste of taxpayer money.

Return of the No-Volume Melt-Up

7-12-10

The big crash — America plunges into Depression Alexander Cockburn

‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn, pass the hot potato scam / fraud as in prior crashes.’

Making millions from mowing lawns [Sounds like a plan … riiiiight!] (Washington Post) Value Added | Entrepreneur's reinvestment and diversification … By Thomas Heath   For the less entrepreneurial at heart there’s always … flippin’ burgers … Washington, D.C.: the nation's (burger) capital? (Washington Post) | ‘The Washington area has emerged as fertile ground for ground chuck …’     Survey: A satisfied federal workforce (Washington Post) Indeed they should be since they’re totally expendable and a waste of taxpayer money.

Return of the No-Volume Melt-Up ‘Well, the markets have managed to regain some semblance of their previous lunacy, going virtually parabolic on next to no volume. Indeed, if you ignored the “year” data, you’d think you were looking at 2009’s market all over again what with the gaps up, late day CLEAR ramp jobs, and overnight manipulations: [chart] We’ve also seen the return of another 2009 hallmark: the no volume melt-up. Indeed, volume has been in a decline since early May. However, the volume last week was particularly pathetic as stocks entered Looney Tune-ville again. [chart] … With that in mind, this rally, unless it turns into something more, should be seen as a gift from the market gods to shift to cash and prepare to establish another round of shorts. On that note, back in March I urged subscribers to shift largely to cash. Since that time we’ve been riding the market down via a series of carefully played shorts, collecting gains of 7%, 9%, 10%, 14%, 16%, even 19% at a time when the market has lost 12%. Indeed, all told, we’ve had 27 winning trades in the last two months. Over the same time period, we’ve only had eight losers. The largest was -9%. The others were in the low single digits (-2%, -3%, -5%, etc). As I write this, we’re preparing our next round of shorts for when the market rolls over. So far the market collapse has established a very clear pattern of lower lows. And my target for the next low will be sub-1000 on the S&P 500 [chart] During its last plunge, the S&P 500 fell to 1,020. It actually touched 1,004 on the overnight futures session. So it’s an almost certainty that when this rally ends and the next leg down begins, we’re going below 1,000.

Momentum Book Update: Trend Indicators Still Pointing Negative

Employment Picture Is Getting Bleaker ‘In "Not Very Bright," I noted that equity investors are pretty clueless when it comes to assessing and comprehending the bigger picture. Given that, maybe they took the news detailed in the following Calculated Risk post, "Small Businesses Still Reluctant to Hire," as a sign that small businesses are interested in acquiring stocks, not employees? Otherwise, it's hard to see any other reason for Friday's rally than manipulation or pure, unadulterated stupidity. From Sharon Bernstein at the LA Times: Jobs outlook for small businesses may be getting bleaker Intuit Inc., which provides payroll services for small employers, says the nation's tiniest companies had fewer new hires last month than any time since October... To calculate its estimate of national hiring, Intuit uses payroll information from its 56,000 small-business customers. The company defines small businesses as those with fewer than 20 employees. Intuit's data show that small businesses hired just 18,000 additional workers last month. That's still positive territory, but it's less than a third of the 60,000 that were added in February, when it seemed that an employment recovery was imminent. Additional hiring dropped steadily during the spring, to 40,000 in April and 32,000 in May. Another payroll company, Automatic Data Processing Inc., painted an even gloomier picture, saying that small businesses lost 1,000 jobs nationwide in June. According to surveys by the National Federation of Independent Business (NFIB), the problem isn't lack of financing or government regulation - the problem is a "shortage of customers". NFIB chief economist Bill Dunkelberg recently said: “What small businesses need are customers, giving them a reason to hire and make capital expenditures and borrow to support those activities.” Of course, regardless of how ignorant the bulls are about the world around them, it seems pretty clear that the concerns of small businesses aren't only relevant to that segment of the economy. If the following chart is any guide, I don't expect we'll be seeing a recovery in the overall employment market anytime soon: [chart] .’

The Debt Party Is Over … In a Ponzi scheme, the end comes when the marginal investor decides to do something else with his money. Then the house of cards stars falling apart. … Market Outlook With the earnings season starting next week, market volatility could stay at elevated levels. From our perspective the most important information from this season would be the outlook from management as reported earnings are already a rear mirror image. The key word that may summarize management outlook might be “caution” which implies hair-thin triggers for additional cost-cutting measures. The illusion that equities should be held for the long run is broken. Complex accounting rules and pro-forma results have overstated earnings for many years. Although we are not in the conspiracy camp, there is a vast net of interests that benefit on keeping the illusion alive. A generation of investors could drive a massive switch into fixed income, pressuring equities to lower PE ratios. In addition, lower earnings will pressure equity prices as well.Out of equities and into fixed income. Treasuries and high quality credits should be favored. Disclosure: Short the market through ETFs’

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘`In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’    `US v. AZ...`   Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.

The Collapse Is Upon Us crabbydogtrix | From coast to coast, the economic and social collapse is upon us.      Central banks start to abandon the U.S. dollar There are those who would argue that the financial crisis was caused by over-enthusiastic worship of the Almighty Dollar. Call it brutal financial karma, but that church is looking pretty empty these days.      Presenting The Wall Of Worry: The 50 Ugliest Facts About The US eCONomy After reading these it almost makes sense that the market has become completely desensitized to the sad reality now pervasive in this country.       The Financial Con Of The Decade Explained So Simply Even A Congressman Will Get It Sometimes, when chasing the bouncing ball of fraud and corruption on a daily basis, it is easy to lose sight of the forest for the millions of trees (all of which have a 150% LTV fourth-lien on them, underwritten by Goldman Sachs, which is short the shrubbery tranche).        Is the IMF about Ready to Muscle U.S. Taxpayers? The IMF has long been a bought, and paid for, muscle arm of the U.S. government and the banking elite.        Economic Hitmen Come for Their ‘Pound of Flesh’ in New Jersey Activist Post | More cash-strapped states will surely follow suit and the fascist takeover of all public services at rock-bottom prices will commence.      The Collapse Is Upon Us crabbydogtrix | From coast to coast, the economic and social collapse is upon us.       Is the IMF about Ready to Muscle U.S. Taxpayers? Robert Wenzel | It appears the elite appear to want to up the ante and are getting set to turn the guns inward and go after the hard earned money of Americans.

The big crash — America plunges into Depression Alexander Cockburn | Young Americans have given up watching the news. It’s too depressing.       Berlin Pushing For European Bankruptcy Framework With Provision For State Sovereignty Give Up Zero Hedge | Plan would take implicit control over and override a default nation’s treasury, in essence pushing the bankrupt country into a form of Feudal vassal state-cum-reparations subservience.       Romanian Recession Deepens on Cuts, BOA Merrill Says Bloomberg | Romania’s recession this year will be deeper than previously seen as the government cut spending and raised the value-added tax to curb a swelling budget deficit.

Dollar Devaluation and Destruction of America Pick Up Steam Kurt Nimmo | Both the United Nations and the IMF urge dumping the dollar as the world’s reserve currency.      A Brutal Case of Backwards Justice in America John Galt | We should not be surprised that this is how our criminal government works in our upside-down society.       Obama’s Summer of Misery and Hardship Tour Hits the Road Kurt Nimmo | Obama’s road show will not hide the 800 pound gorilla in the room — a massive, unprecedented economic depression of the likes never witnessed before.      Crusade Against Mel Gibson Stamped, Sealed and Delivered by the New World Order Jurriaan Maessen | The mainstream media is abuzz with voices denouncing Mel Gibson.      Stirrings of a New Push for Military Option on Iran Jim Lobe | Barring an unexpected breakthrough on the diplomatic front, that campaign, like the one eight years ago, is likely to move into high gear this autumn.     Ten Ways We Are Being Tracked, Traced, and Databased Activist Post | The surveillance state wants to know where we are going through psychological profiling.             Toxicologists Say Corexit Invades Cells and Allows Oil to Penetrate Cells and Organ Systems Washington’s Blog | Even industry scientists working for Exxon and the manufacturer of Corexit itself admit that the stuff is toxic.

Berlin Pushing For European Bankruptcy Framework With Provision For State Sovereignty Give Up The big news out of Europe this morning, and the reason for the drag on the euro is an article in Der Spiegel, “Merkel’s rules for bankruptcy”.       Economic Problems With each passing news cycle, it seems like the economic headlines just keep getting worse. And unfortunately, the highly integrated global economy that we have constructed means that what happens on one side of the world is going to very likely have a big impact on the other side of the world.     Chance of Euro Death up 50%: Economist          Crisis Awaits World’s Banks as Trillions Come Due

Mattis: 'It's fun to shoot people' Washington Post - Ed O'Keefe - ‎Jul 9, 2010‎ By Ed O'Keefe President Obama's pick to lead military operations in Afghanistan, Iraq, Pakistan and the Middle East is an experienced ground combat commander, but also earned a stern rebuke in 2005 for controversial comments about combat operations.       Gen. James Mattis is named head of US Central Command Los Angeles Times      Blunt General Appointed to Lead Forces in Mideast New York Times

Depopulation Fanatics, Eugenicists Launch “Objective” Global Population Study The Royal Society, an organisation made up of renowned eco-fascists and depopulation fanatics, is to launch a major study on human population growth and its implications for social and economic development, a study it has ludicrously branded “objective”.      LeBron Nation: Americans Hypnotized As Country Collapses The sight of American citizens gathering to protest basketball player LeBron James’ decision to join Miami Heat last week, after Ohio Governor Ted Strickland joined celebrities to serenade James in a bizarre appeal video entitled “We are LeBron,” was a shocking reminder of how millions of Americans are more concerned about sports teams than the fact that their country is collapsing around them, and how potent a threat such wanton delusion is to the survival of freedom and prosperity in the United States.        Secret gold swap has spooked the market IT takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion.         WMD claims were lies says former envoy Britain and the US did not believe Iraq’s weapons programmes posed a “substantial threat” before launching the 2003 invasion that overthrew Saddam Hussein, the inquiry into the war heard today.        Former Contractor: BP Not Interested In Cleaning Up Oil Spill Former high-level BP contractor and Army Special Operations soldier Adam Dillon told a New Orleans television station that British Petroleum is not interested in cleaning up the oil spill because the company is run by “cutthroat individuals” who only care about money.       BP Rumormill Update: Sunday Times Reports Exxon And Chevron Receive Green Light From Obama To Plot Takeover You know someone is losing (a lot of) money when the heavy artillery of the rumormill department goes into overdrive.

DRUDGEREPORT: `BOMBSHELL: Media Mogul Mort Zuckerman Admits He Wrote One Of Obama's Speeches...`
`Were White House Officials Ready to Expose Collaboration?`
`Zuckerman Now: Obama Barely Treading Water...MICHELLE TELLS BLACKS TO 'INCREASE INTENSITY'`
`6 troops killed in Afghanistan...DEM GOVS WARN: OBAMA SUIT VS. AZ IS 'TOXIC'Debt panel has gloomy outlook... Crisis Awaits World’s Banks as Trillions Come Due... G20 looks to Beijing to drive global growth … They’re dreamin’! ...`

They say ‘stocks oversold’. Preposterous! Stocks have been overbought based on bad news or nothing at all, rallying on ‘not as bad as expected’. Even if that were true (I don’t believe anything they say), who cares what the criminally insane frauds on wall street say what they expect. It’s fundamentals, economic and financial, that ultimately count; but, in the meantime, they’re like termites eating away at the nation’s foundation with lightning fast computerized trade programs, all of which excessively huge commission churn / earn revenues are a net negative for the economy in real economic terms which is evidenced by unprecedented economic decline in all productive sectors of the economy. This is a great opportunity to SELL / TAKE PROFITS since this suckers rally to suck suckers in and keep them sucked in is based on fraud and b s* alone and: ‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’
]
7-9-10

They say ‘stocks oversold’. Preposterous! Stocks have been overbought based on bad news or nothing at all, rallying on ‘not as bad as expected’. Even if that were true (I don’t believe anything they say), who cares what the criminally insane frauds on wall street say what they expect. It’s fundamentals, economic and financial, that ultimately count; but, in the meantime, they’re like termites eating away at the nation’s foundation with lightning fast computerized trade programs, all of which excessively huge commission churn / earn revenues are a net negative for the economy in real economic terms which is evidenced by unprecedented economic decline in all productive sectors of the economy. This is a great opportunity to SELL / TAKE PROFITS since this suckers rally to suck suckers in and keep them sucked in is based on fraud and b s* alone and: ‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Technical Indicators Trigger Major Sell Signal ‘…In summary, the bearish picture is confirmed by technical indicators, a fundamental outlook, sentiment gauges, and valuations.Based on what the market considered fair market valuations at prior historic market bottoms, one can conclude how far stocks have to drop to reach the previously attained level of fair valuations …’

Simon Maierhofer: ‘On Friday July 9, 2010, 4:32 pm EDT It rarely ever happens, but when it does, it's serious. It has only happened nine times in 10 years. We are referring to crossovers between the 200-day and 50-day simple moving averages (SMAs).Very few technical indicators receive as much attention and media coverage as the 50 and 200-day SMAs. The 200-day MA is perceived to be the dividing line between a stock that is technically healthy and one that is not. It's a Big Deal It's a big deal when a stock or an index drops below the 200-day SMA. It's an even bigger deal when the 50-day SMA of any given stock or index drops below the 200-day SMA. Such a crossover reflects internal weakness - at least in theory. We'll discuss in a moment how the actual numbers match up with theoretic assumptions. On June 22, 2010, the S&P 500 (SNP: ^GSPC) and Dow Jones (DJI: ^DJI) dropped below the 200-day SMA. One day later the Nasdaq (Nasdaq: ^IXIC) followed. On July 2, 2010, the 50-day SMA for the S&P (NYSEArca: SPY - News) dropped below the 200-day SMA. On July 6, the Dow Jones (NYSEArca: DIA - News) followed. As of today, the Nasdaq (Nasdaq: QQQQ - News) is barely hanging on. This sounds like a doomsday scenario. Does a rigid analysis show that there is validity to 200-day and 50-day SMA crossover buy/sell signals? Let's investigate.Crossovers - Lagging but Notable Many argue that the SMA crossover is a delayed signal that emphasizes past weakness more than it foreshadows future declines. To an extent, that is true. There are other warning signals that point to a market turn long before the SMA does. For example, on April 16, 2010, the ETF Profit Strategy Newsletter noted an extremely low put/call ratio along with other bullish sentiment extremes. The newsletter stated that 'the message conveyed by the composite bullishness is unmistakably bearish. Once prices start to fall and investors get afraid of incurring losses, the only option is to sell (due to the low put/call ratio). Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' Prices did fall rapidly. The 22 trading days following the April 26 high, erased eight months worth of gains. It took a 17% drop for the SMA crossover to trigger a sell signal. When the ETF Profit Strategy Newsletter issued a strong buy signal on March 2, 2009, it emphasized that the developing rally would be a counter trend rally followed by a steep decline and maintained this viewpoint even though prices kept rallying relentlessly into the April highs. The SMA crossover now expresses the possibility that even lower prices are ahead. 200 and 50-day SMA Crossovers - How Accurate? How about the SMA crossover track record? Over the past 10 years, there have been nine S&P SMA crossovers with five sell and four buy signals. We have yet to see the results of the most recent sell signal. However, of the eight previous signals, six were correct. Average gains following each signal were 14.91%. $10,000 invested according to the buy/sell recommendations given right after the first sell signal was triggered on October 30, 2000 at S&P 1,399, would be worth $24,769 today. More Than just Crossovers If it sounds too good to be true, it often is. As is the case with so many technical indicators, crossovers need to be viewed in context with other indicators. In other words, take a step back and evaluate how crossovers fit into the larger picture. The larger picture (going back to 2007) reveals that trading volume associated with market declines has been generally high, while trading volume seen during rallies has been generally low; a bearish sign. Does Wednesday's 3.13% Rally Invalidate the Sell Signal? On Wednesday, the S&P rallied 32 points or 3.13%. The Dow rallied 2.82%, while the Nasdaq rallied 3.13%. Does this mean the bull market is back on track?Since the April market top, we've seen about a handful of 2-3% bounces. All associated gains were erased within a matter of days. Chances are this time will be the same. In fact, some sort of bounce was to be expected. On July 5, the ETF Profit Strategy Newsletter stated 'considering that the S&P is butting against the 100-week SMA, lower accelerations band, 38.2% Fibonacci retracement levels, round number resistance at 1,000, and weekly s1 at 994, there is a good chance we will see some sort of a bounce develop from the 990 - 1,015 area. Weekly r1 at 1,066 and pivot at 1,063 should serve as resistance.' This bounce is in its later stages right now. What's Next? Let's revisit the larger picture. Out of the nine leading industry sectors, seven have seen their 50-day SMA cross below the 200-day SMA - financials (NYSEArca: XLF - News), technology (NYSEArca: XLK - News), consumer staples (NYSEArca: XLP - News), materials (NYSEArca: XLB - News), utilities (NYSEArca: XLU - News), energy (NYSEArca: XLE - News) and healthcare (NYSEArca: XLV - News). The consumer discretionary (NYSEArca: XLY - News) and industrial sector (NYSEArca: XLI - News) are the only holdouts. All nine sectors, however, trade below their 200-day SMA. Fundamentals, sentiment readings and valuations also point south. Some of the fundamentals we have discussed in these pages are crafty accounting practices designed to hide huge losses racked up by big financial institutions not yet realized along with a continually bad unemployment picture. Sentiment surrounding the April highs recorded extremes not seen since the 2000, 2007, and even 1987 market top. There are multiple sentiment measures (such as the VIX, cash allocation, put/call ratio, percentage of bullish/bearish advisors, mutual fund cash levels, etc.). Each sentiment measure is one piece of the puzzle. The more pieces of the puzzle you have, the clearer the picture becomes. Leading up to the April highs, nearly all sentiment indicators peaked, painting a complete bearish picture. In summary, the bearish picture is confirmed by technical indicators, a fundamental outlook, sentiment gauges, and valuations. Based on what the market considered fair market valuations at prior historic market bottoms, one can conclude how far stocks have to drop to reach the previously attained level of fair valuations. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics with a track record of accuracy, along with the implied target range for an ultimate market bottom. This is provided in addition to its short, mid and long-term forecast. When the market speaks, it behooves investors to listen. Fighting the tape has often proven to be foolish, as the market will always have the final word.’

A Market Forecast That Says ‘Take Cover’ New York Times | We have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.

Commercial Real Estate Loans Extend and Pretend ‘…Courtesy of Thomson / Reuters Commercial Real Estate Loans – Extend and Pretend Community banks have commercial real estate loans where the borrower cannot make scheduled interest and principle payments. More than 50% of all FDIC-insured institutions have loan pipelines that are 80% to 100% funded. This is a measure of how banks are stuck with noncurrent assets, but they are not classified that way. Instead, community banks are giving borrowers more time to make their payments on the theory that it’s better to collect zero on some loans rather than owning the real estate that collateralizes those loans. This concept is dubbed “extend and pretend” hoping that the borrower will eventual pay the loan back. Banks in this practice are known as “Zombie Banks” as they can’t lend, can’t lure in new investors, and wait for the FDIC to knock on their doors on Friday afternoon. This strategy includes stretching out loan maturities and allowing below-market interest rates to slow the number of defaults and preserving the capital of banks that would be expended if property had to become “Other Real Estate Owned.” As a result “Loans 30 to 89 Days in Arrears” and “Noncurrent” loans are not growing as fast as they should be. The net result of these practices masks the true toxicity of the Commercial Real Estate market. It’s not just the small banks that are employing “extend and pretend” tactics. I read that the Bank of America (BAC) has extended a large real estate loan in Buckhead, Georgia the high-class area north of Atlanta. The loan finances the development of a high-end shopping and residential project in 2007 and now three years later the cranes are silent and the project is fenced in. The banking regulators are helping the banks by allowing the lenders several ways to restructure loans. While doing so the banks are allowed to keep these loans as “performing” even with collateral values below the loan amounts. Extend and pretend is also known as kicking the can down the road. It seems to me that we have wasted billions if not trillions in stimulus money and bank bailouts when this money could have been used to actually fund the completion of these projects. Such a plan would have cost tax payers much less and would have kept Americans working on Main Street USA, as finishing incompleted real estate projects are clearly “shovel ready” projects. According to Foresight Analytics banks hold $176 billion of CRE loans that could be declared toxic. This is the tip of the iceberg as the FDIC Quarterly Banking Profile shows $1.09 trillion in nonfarm nonresidential real estate loans and $418 billion in Construction & Development loans on the books of our nation’s banks. About two-thirds of the CRE loans are maturing between now and 2014, and are underwater. Commercial real estate property values are down 42% from the October 2007 peak. At the end of the first quarter 9.1% are delinquent up from 7% a year earlier. Bankers justify “extend and pretend” saying that it’s better than calling the loan and dumping more property on a depressed market. We need a stronger economy to entice new investors to resurrect projects and to find new demand for competed offices, hotels, condos etc which are the finished products of completed CRE projects. Without a strong economic recovery these loans will eventually have to be written off down the road. The problem is that while these loans are on hold banks can’t justify new loans, which would be the engine of economic growth. And the beat goes on. Disclosure: No positions’

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘`In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’    `US v. AZ...`   Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.

Light Volume Temptations: Dave's Daily ‘Volume still matters, doesn't it? It seems not as the financial media ignores our light volume market in favor of writing bullish headlines. With hedge funds mostly sidelined according to reports posted here yesterday, the primary buyers must be trading desks on Wall Street and a handful of algo traders. It's tempting to come off the sidelines and join the fun but perhaps it's just the trap they're laying for you. A headline at Reuters read this afternoon: "Weaker Economic Views Equals Stronger 3-Year Note Sale". So, if equity markets are forward-looking one must wonder what these few buyers are seeing beyond a short-term trade. Headline writers say its strong earnings growth that will prop markets coupled with rosy outlooks. That would have to be the case otherwise this is just a sucker's rally. As stated, volume was holiday-like light (40% below average) making it really easy for the machines to take over trading, and so they did ... ‘

Gold Rises Most in Three Weeks as Slump May Spur Jump in Demand Gold rose the most in three weeks on speculation that the lowest prices since May will revive demand for the precious metal.      Senile greenspun Says Economy May Be Undergoing a `Pause’ [The best thing that could happen in terms of a rosy outlook for the economy is for ‘no recession helicopter ben’ fed bernanke and Former federal reserve Chairman, The Senile alan greenspan to say we’re heading for a downturn (which is reality) since they’re always wrong; both in what they do and what they say.] Former federal reserve Chairman, The Senile alan greenspan said the U.S. economy may be undergoing what he called a “pause,” and that he can’t rule out the possibility of a so- called double-dip recession.      Ambrose Evans-Pritchard: Legal Wrangling Could Bring Eurozone Disintegration Within Hours The plot continues to thicken at Germany’s constitutional court, a body with power of life or death over Europe’s monetary union.     The Russian Bear Awakens Today most Americans consider the United States to be “the sole remaining superpower” – absolutely unparalleled economically and militarily.

Academics, Politicians: Pending Global Treaty Threatens Free Internet, Fundamental Rights Steve Watson | ACTA: Flagship of the growing internet censorship armada.        Two Stories that Should Scare the Heck Out of You Greg Hunter | I was sitting here trying to find a way to wrap up the week and then, like a bolt of lightning, an idea hit me.Gold expert Jim Sinclair sent me this story: “Federal Budget Deficit Hits $1 Trillion For 1st 9 Months Of FY’10.” The story said, “The shortfall, reflecting $2.6 trillion in outlays for the first three quarters and $1.6 trillion in receipts, narrowed slightly compared with the same point in fiscal 2009.” So where did the “shortfall” come from? Try the more that 8 million who lost their jobs. The story went on to say, “. . . individual income and payroll tax receipts were down 4% over the nine-month period, suggesting that wages and salaries have not improved to the extent that corporate profits have.” Corporate profits have “improved” because they laid-off all those workers!! (Click here for the entire Dow Jones Newswires story) Sinclair says, “Nothing has changed. Nothing has been rescued. The can that is being kicked daily down the path is going to turn around and bite the kickers. Gold is the only insurance.” When things get bad enough, there will be more stimulus cash put into the economy and more bank bailouts. Sinclair is like legendary football quarterback Joe Montana–never bet against either of them.      Academics, Politicians: Pending Global Treaty Threatens Free Internet, Fundamental Rights Over 90 academics, practitioners and public interest organizations from six continents have collectively warned that a secretive global treaty, currently being negotiated by governments of the world’s largest economies would see tight controls placed on the internet and would threaten other fundamental rights and freedoms.

Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression Following Nobel Laureate Paul Krugman’s declaration last week that the U.S. is in entering a third period of great depression, more and more economists are following suit, comparing the scale of the crisis to that of the early 1930s.

Ahmadinejad brands US world’s dictator ahead of summit

David Icke onTV: Humanity’s Last Chance Infowars.com | Alex talks with writer, public speaker, and former well-known BBC television sports presenter David Icke.      As the United States Collapses, Media Worships LeBron James Infowars gives the inside scoop on basketball MVP LeBron James’ pivotal trade decision.       America Is In A Societal Meltdown Chuck Baldwin | America is in the midst of a complete and total spiritual, societal, cultural, moral, and political meltdown.       Obama Selects General Who Likes Killing Muslims to Centcom Kurt Nimmo | Gen. Mattis has the same habit of speaking his mind as McCrystal.

The Lights Are Going Out For Free Speech On The Internet Type the keywords “Internet censorship” into Google News and you will immediately understand to what degree the world wide web is under assault from attempts by governments globally to regulate and stifle free speech. From Australia to Belarus, from Turkey to Vietnam, from Pakistan to Egypt, from Afghanistan to Iran, huge chunks of the Internet are going dark as the Chinese model of Internet regulation is adopted worldwide. [Has everybody lost their minds? Referring to the china model as something to be emulated. It’s true they are more productive than america, generally, but their business model is almost prehistoric and the direct consequence of the great american sell-out for money (the ‘pass through’ or direct) by those who’ve pledged otherwise (walmart, congress, clinton, bush, wobama, etc.). Even some of their simplest products are junk (but priced incredibly low to make the relative value) and seem to have adopted that GM strategy of planned obsolescence, breakdown, etc., to spur sales. Then there’s the communist faux capitalism paradox, suppression, oppression, etc., which has even the defacto bankrupt, pervasively corrupt, fallen america blindly following. Quite simply, their ancient business model is slave labor. As for Iran, they are a relatively small nation under collective siege.]

US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas You already might have heard that it costs the United States $1 million for each solider per year in Afghanistan, to cover the cost of the soldiers’ benefits, troop transports and other materiel.     Billions of dollars secreted out of Kabul Spiegel Online | Billions of dollars are being secreted out of Kabul to help well-connected Afghans buy luxury villas in Dubai and then there are the american recipients who are a bit more careful with their stash.

`DRUDGEREPORT: PAPER: Optimism on hold; Recovery economy falters...`

`USA marks 3rd-largest, single-day debt increase...`
`Deficit hits $1 trillion in June for second year...`
`IMF presses US to cut debt... NSA INTERNET GRAB; SPY AGENCY SHIFTS TO DOMESTIC EAVESDROPPING...`

`CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... RESET: Russia slams Clinton for 'groundless' comments... Mortgage Delinquencies Rising Again as Home Prices Stay Flat...`
`Roubini: Banks Too Big to Fail, Too Big to Bail Out... COOKED APPLE: 103... UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`
`US v. AZ...`

The New Civil Wars Within the West Gregory R. Copley | Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America.     On Why America’s 234th Birthday May Not Have Many More To Follow Zero Hedge | It is my firm belief that we have come to the “end of the road” for the financial system.

Iran says planes denied fuel in Germany, UK, UAE Reuters | The claim could not be independently confirmed and was met abroad by skepticism. [Europe really fell fast. They make Christians look like the dumbest people in the world, along with the likes of ie., UAE if true (and defacto bankrupt america). After all, this ‘all for israel’ mantra is contraindicated inasmuch as the hebrews deny the very foundation of the Christian religion and indeed were behind his crucifixion].

7-8-10

This is an especially great opportunity to SELL / TAKE PROFITS since this suckers rally to suck suckers in and keep them sucked in is based on fraud and b s* alone and: ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Continuing claims for unemployment fell more than expected to 4.41 million but the expiration of worker benefits (a big negative for consumption) played a major part in that drop. Clearly a desperate, fallen europe has adopted the fraudulent american b s* paradigm to help froth the markets for similar fraudulent reasons. Don’t forget, they ultimately followed america’s ill-fated lead in lemming-like fashion of valuing worthless assets at mark to anything and there are still hundreds of trillions in worthless fraudulent paper carried at ‘mark to anything’. Retailers deepened discounts more than planned in June to draw recession-scarred shoppers to buy summer clothes and other merchandise; but shoppers bought mostly necessaries, resulting in small and less than expected revenue gains.

Too Soon to Call End to Correction Jerry Slusiewicz ‘The markets current three day rally has lifted the animal spirits of investors from every breed. The bulls are now claiming victory and the bears are still growling away. I like to look at pictures because as they say, “A picture paints a thousand words.” [chart] For traders maybe this three day rally on the heels of a nine day decline within the prior 10 trading days is meaningful. But this picture shows that the uptrend from last year is broken. The 50 day moving average is now lower than the 200 day average. We have a series of lower highs and lower lows which is forming a trend, and not shown is the light volume that has accompanied the recent market run-up. From a fundamental standpoint not much has changed either. Europe is still in a quandary. Housing (and credit), which started this whole mess is still in trouble. As a matter of fact, mortgage rates are at record-low levels and and even with that, new home sales and pending home sales plunged to new all-time lows in May. Also mortgage applications for purchases are still declining in June, and that demonstrates how beleaguered the real estate sector truly is. Those who think the economy doesn’t need the real estate sector to improve for the overall economy to recover are forgetting that for most Americans their home is their largest investment. Add to that fact the realization that consumer spending accounts for 70% of our economy. When people feel “house poor” they are less inclined to spend heavily. Therefore housing must recover for there to be a lasting economic recovery. Until the current downtrend actually changes, it is premature to guess that the correction is over. This is most likely a reprieve before the next leg down. Disclosure: Pacific Financial maintains positions in the following: DTEGY.PK, EEV, FXP, PSQ, SGG, SH, SL, and a large cash position.’

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘`In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’    `US v. AZ...`   Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.

Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression Following Nobel Laureate Paul Krugman’s declaration last week that the U.S. is in entering a third period of great depression, more and more economists are following suit, comparing the scale of the crisis to that of the early 1930s.

Another Light Volume Rally: Dave's Daily … Words fail me. That's about all one can say. Jobless Claims came in about as expected, lower than last week, but still trolling the ocean floor. Retailers reported mixed results but no one seemed to care much. Crude oil rallied on a large inventory drawdown. What else was there? Nothing really…

A Market Forecast That Says ‘Take Cover’ New York Times | We have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.

`AMERICA IS DEFACTO BANKRUPT-DRUDGEREPORT: USA marks 3rd-largest, single-day debt increase...`
`Deficit hits $1 trillion in June for second year...`
`IMF presses US to cut debt...`

MF calls for deficit cuts in US The Associated Press - WASHINGTON - The International Monetary Fund is calling for the United States to make a stronger effort to curb its budget deficits.      US should cut deficit to spur recovery, IMF says Washington Post

Change and no change for UK recovery - Stephanie Flanders / The Monetary Policy Committee (MPC) hasn't changed its view of the UK economy today - but the IMF has. In the past three months the Fund's economists think our growth prospects have got notably worse … The Fund doesn't spell out why it is now more gloomy about the UK, but I am assured that last months' Budget is the reason …

CNBC Guest Says Absent Plunge Protection Team Stepping In, Market Would Fall; Wien, Kernan Disgusted A highly amusing exchange occurred earlier on CNBC when guest Damon Vickers of Nine Points Capital had an unexpected moment of truthiness and turned some heads when he said that “unless the plunge protection team comes in over the next couple of days, the markets are looking very dicey here.”      Witness The Recent Gold Market Takedowns Whistleblowers, interesting IMF rules, an official war against gold, signs of weakening, a hole 8 million jobs deep, cuts and changes in european economy, solar energy getting money, possible northern Euro, a desire for corruption removed Glass-Steagall.       EMU break-up risks global deflation shock that would dwarf Lehman collapse, warns ING A full-fledged disintegration of the eurozone would trigger the worst economic crisis in modern history, devastate every country in Europe including Germany, and inflict a deflationary shock on the US. There would be no winners, warns the Dutch bank ING in a new report “Quantifying the Unthinkable”.

Recession 2010? [How ‘bout depression … Now!] If you watch any mainstream news program these days, it is almost a certainty that someone will mention the word “recession” before a half hour passes.

The biggest market crash since the 1720? The Week | Market forecaster Robert Prechter says we’re on the verge of the biggest market crash since the 1720 collapse of Britain’s South Sea Bubble.      CNBC Guest Says Absent Plunge Protection Team Stepping In, Market Would Fall Zero Hedge | The market is sure having a field day with stocks as once again.         IMF presses US to cut debt AFP | Amid jitters that high levels of unemployment may force a double dip recession, the IMF warned the slow recovery would continue.

My Short-Term Market Forecast Graham Summers ‘… So while the possibility of a 1987 event is there, I think we’re likely to continue to see this kind of “down the stairs” collapse instead. Of course, it never pays to be married to one forecast. For that reason, having some open shorts to profit from a potential 1987 Collapse isn’t a bad idea. However, if you’re looking to maximize the profits from the type of drops we’re seeing, you need to get in and get out using temporary bottoms to lock in the gains and temporary rallies to enter new positions.’’

Should You Bear Market Proof Your Portfolio? Simon Maierhofer, July 7, 2010: The area was known to be an idyllic sanctuary. Snowcapped mountains, crystal clear lakes, warm summers, a gentle autumn ... you get the picture. For nearly 180 years, Mount St. Helens remained silent, towering over the beautiful scenery below. However, there were early warning signs pointing towards a potentially catastrophic eruption of the volcano. Most viewed them as nothing more than hot air (no pun intended). Doug, a farmer who lived close to the foot of the mountain refused to evacuate. 'My mountain wouldn't do that to me' he said. Less than 24 hours later, Doug and his farm were buried beneath 70 feet of mud and volcanic debris.

What's the moral of this story?
1) Even subtle signs can foreshadow a significant event
2) Just because an event doesn't occur regularly doesn't mean it can't happen.
What does the 1980 eruption of Mount St. Helens have to do with the stock market? More than you'd think.

Subtle Signs - Significant Results
Do you remember how stocks (NYSEArca: VTI - News) slowly but steadily inched towards their April 26 highs? For nearly two months (from 2-26-10 to 4-15-10) the S&P (SNP: ^GSPC) moved up without more than a 0.5% down day. The picture for the Dow (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) looked similar. Beneath the surface of rising prices, however, trouble was brewing. On Wednesday, April 14, the CBOE Equity Put/Call Ratio dropped to 0.32, the lowest reading in nearly two years and was 45% below its six-month average. On April 16, the ETF Profit Strategy Newsletter picked up the subtle put/call ratio warning signal and published this cautionary note: 'Only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late
When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media
By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.
April 19, 2010
'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' – Bloomberg
April 25, 2010:
'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal
April 27, 2010
'Greece contagion fears unfounded' – Reuters
May 3, 2010:
'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' – Bloomberg
Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash
In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), Short Dow30 ProShares (NYSEArca: DOG - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), UltraShort Financial ProShares (NYSEArca: SKF - News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate
On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: FEZ - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust
EVEN WHEN BASING THE CURRENT P/E RATIO ON OVERLY OPTIMISTIC ESTIMATES, IT IS STILL FAR AWAY FROM THE P/E RATIOS SEEN AT HISTORIC MARKET BOTTOMS. THE SAME HOLDS TRUE FOR DIVIDEND YIELDS. A LOOK AT VARIOUS VALUATION MEASURES SHOWS THAT THE MARKET IS OVERVALUED BY MUCH MORE THAN JUST 10 OR 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy. The Newsletter also includes a target range for the ultimate market bottom and the one chart that highlights the short-term bearish potential. Will you head the warnings signs, or like farmer Doug trust that the market won't fall on you?

A Market Forecast That Says ‘Take Cover’ New York Times | We have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years

NY National Guard Involved In Mass Arrests Of U.S. Citizens It has emerged that the New York National Guard is assisting in the arrests of thousands of American citizens as part of the “drug war,” while at the same time the U.S. government itself orders troops in Afghanistan to guard the poppy fields as heroin floods American streets, in yet another shining example of how the United States is under a state of de facto martial law.       Obama Science Czar Called For Global Carbon Tax Immediately prior to his nomination as White House Science Czar, John P. Holdren called for a global carbon tax in order to “redistribute” wealth to the Southern Hemisphere.      Hillary Clinton’s Latest Lies Why would Iran be a threat to Poland? What happens to US credibility when the Secretary of State makes such a stupid statement? Does Hillary think she is fooling the Russians? Does anyone on earth believe her? What is the point of such a transparent lie? To cover up an act of American aggression against Russia?

Ahmadinejad brands US world’s dictator ahead of summit

David Icke onTV: Humanity’s Last Chance Infowars.com | Alex talks with writer, public speaker, and former well-known BBC television sports presenter David Icke.      As the United States Collapses, Media Worships LeBron James Infowars gives the inside scoop on basketball MVP LeBron James’ pivotal trade decision.       America Is In A Societal Meltdown Chuck Baldwin | America is in the midst of a complete and total spiritual, societal, cultural, moral, and political meltdown.       Obama Selects General Who Likes Killing Muslims to Centcom Kurt Nimmo | Gen. Mattis has the same habit of speaking his mind as McCrystal.

The Lights Are Going Out For Free Speech On The Internet Type the keywords “Internet censorship” into Google News and you will immediately understand to what degree the world wide web is under assault from attempts by governments globally to regulate and stifle free speech. From Australia to Belarus, from Turkey to Vietnam, from Pakistan to Egypt, from Afghanistan to Iran, huge chunks of the Internet are going dark as the Chinese model of Internet regulation is adopted worldwide. [Has everybody lost their minds? Referring to the china model as something to be emulated. It’s true they are more productive than america, generally, but their business model is almost prehistoric and the direct consequence of the great american sell-out for money (the ‘pass through’ or direct) by those who’ve pledged otherwise (walmart, congress, clinton, bush, wobama, etc.). Even some of their simplest products are junk (but priced incredibly low to make the relative value) and seem to have adopted that GM strategy of planned obsolescence, breakdown, etc., to spur sales. Then there’s the communist faux capitalism paradox, suppression, oppression, etc., which has even the defacto bankrupt, pervasively corrupt, fallen america blindly following. Quite simply, their ancient business model is slave labor. As for Iran, they are a relatively small nation under collective siege.]

US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas You already might have heard that it costs the United States $1 million for each solider per year in Afghanistan, to cover the cost of the soldiers’ benefits, troop transports and other materiel.     Billions of dollars secreted out of Kabul Spiegel Online | Billions of dollars are being secreted out of Kabul to help well-connected Afghans buy luxury villas in Dubai and then there are the american recipients who are a bit more careful with their stash.

`DRUDGEREPORT:` `USA marks 3rd-largest, single-day debt increase...`
`Deficit hits $1 trillion in June for second year...`
`IMF presses US to cut debt... NSA INTERNET GRAB; SPY AGENCY SHIFTS TO DOMESTIC EAVESDROPPING...`

`CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... RESET: Russia slams Clinton for 'groundless' comments...Mortgage Delinquencies Rising Again as Home Prices Stay Flat...`
`Roubini: Banks Too Big to Fail, Too Big to Bail Out... COOKED APPLE: 103... UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`
`US v. AZ...`

The New Civil Wars Within the West Gregory R. Copley | Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America.     On Why America’s 234th Birthday May Not Have Many More To Follow Zero Hedge | It is my firm belief that we have come to the “end of the road” for the financial system.

Iran says planes denied fuel in Germany, UK, UAE Reuters | The claim could not be independently confirmed and was met abroad by skepticism. [Europe really fell fast. They make Christians look like the dumbest people in the world, along with the likes of ie., UAE if true (and defacto bankrupt america). After all, this ‘all for israel’ mantra is contraindicated inasmuch as the hebrews deny the very foundation of the Christian religion and indeed were behind his crucifixion].

`DRUDGEREPORT: Evans-Pritchard: It's Really Starting to Feel Like 1932 [Depression] ... Dow Repeats Great Depression Pattern...`
`Investors fear risk of regional defaults...`
`Obama: 'The great jobs killer'... Turkey, a leader of nations, wants war criminal israel apology, israel rejects demand ...`
`Threat 'to sever ties'...`

Dollar Plunges After UN Call To Ditch Greenback U.S. economy enters “total freefall” as double-dip recession looms.

China's Stocks Fall to 15-Month Low on Economy, Profit Outlook China's housing prices to fall, official says

Banks are Still at the Derivatives Casino (at Seeking Alpha)        [video] Washington's Bungled Bank Bailout (at TheStreet.com)        ECRI Weekly Leading Index Growth Lowest in 13 Months        Be on the Right Side of S&P Earnings Estimate Cuts

Inventory Cycle Has Run Its Course Harrison – ‘… This is the scenario I have been predicting for months now.

Double Dip Recession and the Obama 2011 Budget (February 2010): The long and short is that – come Summer – the inventory cycle’s thrust will have dissipated. And if companies are not hiring by this time and consumer spending is not increasing more robustly, then the state budgets, the strategic defaults and all of the rest of that becomes a serious obstacle. In my view, more likely than not, this will lead to another recession late in 2010 or in 2011. And nothing in the President’s budget changes this outlook.

The mindset will not change; a depressionary relapse may be coming (March 2010): the inventory cycle’s impact on GDP growth will attenuate. By the second half of 2010, inventories will not add considerably to GDP.

US GDP growth rate is unsustainable; recovery will fade (April 2010): The inventory cycle is already starting to fade. That means weak 1 or 2% growth at best by Q4 2010. Unless job growth picks up tremendously by the second half of the year, this recovery is in trouble.

David Rosenberg says the ISM leads jobs. And, the latest jobs numbers were weak.

I would be nonplused about the recent ISM data if it weren’t for the column highlighted in red. Notice how the momentum for everything is slowing. Not just the overall index, but new orders, production and employment …’

U.S. Economy “Is a Complete Disaster” Yahoo! Finance | The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come.      America is sinking under Obama’s towering debt I hope the White House is paying attention to the latest annual Congressional Budget Office Long-Term Budget Outlook, which offers a truly frightening picture of the scale of America’s national debt, with huge implications for the country’s future prosperity.       7.9 million jobs lost, many forever CNNMoney | The recession killed off 7.9 million jobs. It’s increasingly likely that many will never come back.

50 Random Facts That Make You Wonder What In The World Has Happened To America The Economic Collapse | For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die.      BP, Homeland Security, and Cops Work Together to Deny First Amendment Kurt Nimmo | BP, Homeland Security, the FBI’s Joint Terrorism Task Force, and local cops will now decide if it is acceptable for journalists to take photographs.      Will G20 Police Succeed In Covering Up Reports of Rape and Torture? Infowars.com | Can authorities be allowed to cover-up the Abu-Ghraib style incarceration methods Toronto police engaged in during the G20 summit this past weekend, where women were arrested and subsequently raped by male cops?       Emergency S.O.S.: America Falling to Foreign Bank Takeover – Fourth of July Alex Jones breaks down the takeover by offshore banking powers– newly empowered by Congress’ banking “reform,” expanded taxes worldwide, as well as accelerated moves towards ending the Dollar’s reserve status, including urging from a recent United Nations report.        More than one-quarter don’t know who US gained independence from Every Fourth of July, Americans gather to celebrate the country’s declaration of independence from … um, what country was that again?

`DRUDGEREPORT: TORN ON FOURTH OF JULY: OBAMA DIVIDES NATION...`
`Great Republic in parlous state -- politically, economically...`

`YEAR 9: Petraeus in Afghanistan warns of tough mission...`
`'We are in this to win' … Win what? The fact of america’s defacto bankruptcy and being there IS failure no matter what they ultimately call this debacle ... Illinois Stops Paying Its Bills...`
`Facing 'outright disaster' amid budget crisis...`

Turn On, Tune In...Nah, Just Drop Out … Discouraged workers at a new cycle high And small wonder. The median unemployment duration went to a new all-time high (since the 1940s, anyway, when that series begins) and shows no signs of slowing its ascent … (Chart, source Bloomberg)…

`YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission? What plan?.What strategy? National bankruptcy?… Mission accomplished! ...`

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

7-7-10

This is a great opportunity to SELL / TAKE PROFITS since this spike is based on b* s* alone and: ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

A Market Forecast That Says ‘Take Cover’ New York Times | We have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.**

My Short-Term Market Forecast Graham Summers ‘… So while the possibility of a 1987 event is there, I think we’re likely to continue to see this kind of “down the stairs” collapse instead. Of course, it never pays to be married to one forecast. For that reason, having some open shorts to profit from a potential 1987 Collapse isn’t a bad idea. However, if you’re looking to maximize the profits from the type of drops we’re seeing, you need to get in and get out using temporary bottoms to lock in the gains and temporary rallies to enter new positions.’

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`        `CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘`In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’    `US v. AZ...`   Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.

Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression Following Nobel Laureate Paul Krugman’s declaration last week that the U.S. is in entering a third period of great depression, more and more economists are following suit, comparing the scale of the crisis to that of the early 1930s.

Should You Bear Market Proof Your Portfolio? Simon Maierhofer, July 7, 2010: The area was known to be an idyllic sanctuary. Snowcapped mountains, crystal clear lakes, warm summers, a gentle autumn ... you get the picture. For nearly 180 years, Mount St. Helens remained silent, towering over the beautiful scenery below. However, there were early warning signs pointing towards a potentially catastrophic eruption of the volcano. Most viewed them as nothing more than hot air (no pun intended). Doug, a farmer who lived close to the foot of the mountain refused to evacuate. 'My mountain wouldn't do that to me' he said. Less than 24 hours later, Doug and his farm were buried beneath 70 feet of mud and volcanic debris.

What's the moral of this story?
1) Even subtle signs can foreshadow a significant event
2) Just because an event doesn't occur regularly doesn't mean it can't happen.
What does the 1980 eruption of Mount St. Helens have to do with the stock market? More than you'd think.

Subtle Signs - Significant Results
Do you remember how stocks (NYSEArca: VTI - News) slowly but steadily inched towards their April 26 highs? For nearly two months (from 2-26-10 to 4-15-10) the S&P (SNP: ^GSPC) moved up without more than a 0.5% down day. The picture for the Dow (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) looked similar. Beneath the surface of rising prices, however, trouble was brewing. On Wednesday, April 14, the CBOE Equity Put/Call Ratio dropped to 0.32, the lowest reading in nearly two years and was 45% below its six-month average. On April 16, the ETF Profit Strategy Newsletter picked up the subtle put/call ratio warning signal and published this cautionary note: 'Only a minority of equity positions are equipped with a put safety net. Once prices do fall and investors do get afraid of incurring losses, the only option is to sell. Selling, results in more selling. This negative feedback loop usually results in rapidly falling prices.' The 22 trading days following the April 26 market highs erased eight months worth of gains. Bear markets move much quicker than bull markets.

Rule #1: Better too Early than too Late
When preparing for a bear market (we'll discuss in a moment why we have been preparing for a bear market), it is prudent to start early. Anyone who sold their long positions as early as September last year would be in a better position than the buy-and hold crowd that is still clinging to their holdings.

Rule #2: Don't Trust Wall Street and the Media
By now, even the mainstream media is sensing that something might not be quite right with the market's performance. However, there is still hope that the second half of the year will get a lift from positive earning results. Before you bet your money on that line of reasoning, consider the picture the media painted days within the April 2010 market top.
April 19, 2010
'America is back - The remarkable tale of an economic turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' – Bloomberg
April 25, 2010:
'U.S. stocks cheapest since 1990 on analyst estimates' – Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal
April 27, 2010
'Greece contagion fears unfounded' – Reuters
May 3, 2010:
'Manufacturing in U.S. grows at fastest pace since 2004 as recovery gains traction' – Bloomberg
Over the past two and a half months, the S&P (NYSEArca: SPY - News) and Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is considered the mark of a new bear market. In essence, we are only one bad day away from the next bear. Of course, throughout the massive bear market rally from the March 2009 lows, which the ETF Profit Strategy Newsletter predicted via the March 2, 2009 Trend Change Alert, the newsletter maintained that it was only a bear market trap which would fool a majority of investors. On April 16 it stated that 'Most bulls have no clue why they are bullish except for the fact that they feel the need to play the momentum game. Sounds like 2000 and 2007 all over again. The message conveyed by the composite bullishness is unmistakably bearish.'

Rule #3: Don't Underestimate Cash
In a period of falling prices, cash or cash equivalents like short term Treasuries (NYSEArca: SHY - News) maintain your purchasing power - long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive and may move faster than you think. When stocks fall and you are able to maintain your purchasing power, you are able to buy stocks at a discount. In essence, cash offers a positive return in periods of falling prices. Additionally, or alternatively, investors may choose to buy short or leveraged short ETFs such as the Short S&P 500 ProShares (NYSEArca: SH - News), Short Dow30 ProShares (NYSEArca: DOG - News) UltraShort S&P 500 ProShares (NYSEArca: SDS - News), UltraShort Financial ProShares (NYSEArca: SKF - News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News) and many more.

Rule #4: Don't Procrastinate
On May 14, the ETF Profit Strategy Newsletter predicted that the S&P (NYSEArca: IVV - News) will fall through the important 1,040 resistance level. Aside from a small cluster of resistances (one being round number resistance), a break below 1,040 opened the door wide for significantly lower prices. We mentioned above that we've been preparing for a reemerging bear market even before the April highs. Why? Simply put, stocks are overvalued. How can that be? One of the above headlines read that U.S. stocks are cheapest since 1990, at least according to analyst projections. The key word is projections. Analysts project operating earnings for the S&P to clock in at $94.83 in 2011. This is higher than the 2007 peak of $91.47. That's right, despite record high unemployment, a European (NYSEArca: FEZ - News) debt crisis, a 17% U.S. market correction, and all the other problems economists expect corporate profits will exceed their 2007 all-time highs. Does that sound reasonable to you? Keep in mind that projected earnings are just that - projected. They can and will change. In fact, analysts have a reputation of following the trend. In April 2008, analysts predicted earnings of $113. After cutting its forecast to $53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we know today, stocks rallied, and actual 2009 earnings came in at $56.87. The list goes on, but the simple message is that analysts tend to be overly optimistic before the fall and overly pessimistic before a rally. Right now they are overly optimistic. The conclusion is easy.

Rule #5: Know who to Trust
EVEN WHEN BASING THE CURRENT P/E RATIO ON OVERLY OPTIMISTIC ESTIMATES, IT IS STILL FAR AWAY FROM THE P/E RATIOS SEEN AT HISTORIC MARKET BOTTOMS. THE SAME HOLDS TRUE FOR DIVIDEND YIELDS. A LOOK AT VARIOUS VALUATION MEASURES SHOWS THAT THE MARKET IS OVERVALUED BY MUCH MORE THAN JUST 10 OR 20%. The ETF Profit Strategy Newsletter provides a detailed analysis of four valuation metrics with a near spotless track record of historic accuracy. The Newsletter also includes a target range for the ultimate market bottom and the one chart that highlights the short-term bearish potential. Will you head the warnings signs, or like farmer Doug trust that the market won't fall on you?

ETF Data Daily: More Movement Out Of Equities ‘Investors kept moving money out of equity ETFs on Tuesday, with the PowerShares QQQ (NasdaqGM:QQQQ - News) at the top of the redemptions list in the latest sign that investors may be bracing for more downside movement in stocks, according to data compiled by IndexUniverse.com. They yanked almost $300 million out of QQQQ, with the SPDR S&P Midcap 400 (NYSEArca:MDY - News) and the SPDR S&P 500 ETF (NYSEArca:SPY - News) second and third on the July 6 list with $187 million and $149 million in redemptions, the data showed. On the flip side, investors poured another $74 million of new money into the ProShares Short S&P 500 ETF (NYSEArca:SH - News) yesterday on top of more than $300 million on Friday, July 2, also betting—but on the shorting side—that the U.S. equity market is due for a decline. The ProShares fund was second in ETF creations yesterday, edged out by the Direxion Daily Financial Bull 3x (NYSEArca:FAS - News), a short-term trading instrument that delivers investors three times the daily returns of the underlying index made up of financial companies. FAS added just over $75 million. All told, the U.S. ETF industry saw $1.16 billion in net inflows on Tuesday. Assets under management now stand at $776.66 billion …’

A Market Forecast That Says ‘Take Cover’ New York Times | We have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.     Goldman Tells Clients To Ignore “Controversial” Bad News, Sees 1.6% (Precisely) Recession Chance In other words, because everyone knows that there is really no trouble in the jobless arena, aside from some rumblings in the periphery that the real unemployment rate is, oh, 16.5%, Goldman sees no need to discuss this data point, as it is really completely irrelevant. Oh yes, and the model refs out if you assume in negative input. Moody’s coupled with a dash of European stress tests anyone?      Shipping Our Economy, Our Jobs And Our Prosperity To China As the U.S. economy continues to implode, large American corporations are investing billions upon billions of dollars in China.      Central Banks Dumping Gold At A Torrid Pace This might explain, in part, the lack of a floor underneath gold prices right now.      Mass. town will charge to keep street lights on A plan in the works to save money in Concord, Massachusetts. Residents can keep their lights on, but they’ll have to pay a monthly fee. It’s become a hot topic in the town of 17,000.

New York National Guard Units Scan Vehicles For Gun Confiscations The New York National Guard is working with local law enforcement authorities to perform sophisticated scans of vehicles entering the New York area looking for guns and drugs in the latest alarming example of how America is under a state of de facto martial law.       Obama Commits Act of High Treason; Sides with Foreign Power Against Arizona In his latest You Tube address, Alex Jones examines the factors leading towards the Obama Administration’s pending lawsuit against Arizona’s controversial immigration laws, an act of treason under the 11th Amendment of the U.S. Constitution which bars the suing of states under certain circumstances.     Climategate Whitewash Complete: Third Inquiry Clears Everyone Involved A third and final inquiry into the climategate scandal has exonerated everyone involved and declared that there is no question over the science behind manmade global warming – even though, like its predecessors, it has not investigated the science.     Obama’s New Health Care Czar: “We Must Redistribute Wealth” “Any health care funding plan that is just equitable civilized and humane must, must redistribute wealth from the richer among us to the poorer and the less fortunate. Excellent health care is by definition redistributional.”     TSA drops policy blocking ‘controversial’ sites After an uproar from conservative bloggers and free-speech activists, the Transportation Security Administration late Tuesday rescinded a new policy that would have prevented employees from accessing websites with “controversial opinions” on TSA computers at work.     Polish Troops Train To Take On American “Terrorists” Law enforcement and military officials were keen to play down the presence of Polish troops during the recent Operation Vigilant Guard exercises in Chicago, but claims that the foreign personnel were there merely as “observers” were proven incorrect after they were filmed participating in drills which revolved around terrorism and mass casualty disasters.

`DRUDGEREPORT: NSA INTERNET GRAB; SPY AGENCY SHIFTS TO DOMESTIC EAVESDROPPING...`

`CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE...`

`RESET: Russia slams Clinton for 'groundless' comments...`

My Short-Term Market Forecast Graham Summers –‘We’re at a critical juncture. Last week I thought it possible that we would see a bounce. Stocks were oversold in the short-term and institutional money managers had every incentive to push for a strong end of June performance. Indeed, they needed to hold the S&P 500 at 1070 to make June a break-even or better performance. Coming on the tail of the worst May since 1940, I thought for sure we’d see some serious performance gaming. It was, after all, the end of 2Q10. [chart] Instead, we got another severe sell-off with stocks breaking to new lows from their collapse off the late April high. [chart] It’s as though the entire world suddenly jumped on the Bear bandwagon in a matter of weeks. It’s extraordinary given that most everyone was a Bull up until late April. And yet, here we are, a mere eight weeks later and suddenly the whole investing world is talking about a double dip in the economy, the bear market returning, and the famous “head and shoulders” pattern that has become a mainstream talking point: [chart] It’s truly odd given that ALL of the facts the investing world is now collectively realizing have been staring us in the face for months. It’s not as though anything really changed. Last year’s “recovery” was in fact simply a “things not getting as horrible quite as quickly” stage in the worst economic downturn in 80 years. The fact that every monetary faucet was opened and every accounting gimmick implemented to attain a mere slowing (not a true reversal) of the downturn should give you an idea of just how terrible things are in the real world. Collectively, the entire world spent more money in one year than was spent during WWI, WWII, and the New Deal combined. And all we got for it was a one-year melt-up in various asset classes. This is truly worrisome because it indicates that most assets are now trading at levels severely detached from economic realities. This, of course, is something I’ve been warning about for over a year. To be honest, I don’t know how the entire world failed to see it. But the last eight weeks indicate that the world is now waking up to these facts: that all talk of recovery and a new bull market was in fact a load of bunk backed by weak if not outright fraudulent data. Whenever the whole investing world wakes up to something, the potential for extraordinary market action increases dramatically. Today that “extraordinary market action” is a potential 1987-type event. Given the feeble state of the financial system as well as the insane level of computer trading occurring in the stocks market, this is definitely a possibility. However, we need to remember that few if any expected the October 1987 debacle. You certainly did not see major financial outlets talking about a full-scale collapse occurring soon (something that is happening today). So I for one am a bit suspicious about the talk of a sudden and immediate Crash. So far, the market action for this last leg down has occurred in a very different fashion from what happened in 1987. The lead up to October 1987: [chart] The lead up to today: [chart] Moreover, thus far the collapse has occurred in a stair-step fashion, not the sort of tension before falling off a cliff-action seen in 1987: [chart] So while the possibility of a 1987 event is there, I think we’re likely to continue to see this kind of “down the stairs” collapse instead. Of course, it never pays to be married to one forecast. For that reason, having some open shorts to profit from a potential 1987 Collapse isn’t a bad idea. However, if you’re looking to maximize the profits from the type of drops we’re seeing, you need to get in and get out using temporary bottoms to lock in the gains and temporary rallies to enter new positions.’

Is America Really Free, If A Privately-Owned Central Bank Controls Our Currency And Runs Our Economy? This weekend we celebrated America’s Independence Day. But are we really a free nation? The truth is that it is really hard to argue that we are “free” when our currency system and our economy are run by an unelected privately-owned central bank.      TSA To Block Websites With “Controversial Opinions” The Transportation Security Administration will block all websites that contain “controversial opinion” from its federal computers in the latest example of how Internet censorship is expanding in both the private and public sector as the federal government prepares to push through a power grab that will empower President Obama to shut down the world wide web with an emergency decree.

With the US trapped in depression, this really is starting to feel like 1932 Ambrose Evans-Pritchard | “All the booster rockets for getting us beyond it are failing.”      Global Elites Struggle to Keep EU, Euro Intact James P. Tucker | Bilderberg members pushed hard in a frantic attempt to save the euro during the recent weekend-long economic summit in Toronto.      Euro Weakens, Bonds Rise on Trichet Austerity Comments; Stocks Fluctuate Bloomberg | The euro ended a three-day winning streak and bonds rose after European Central Bank President Jean-Claude Trichet urged “austerity” measures to contain budget deficits.

Graduates warned of record 70 applicants for every job      Ken Rogoff: “China Property Market Collapse Starting” Tomorrow morning Bloomberg TV conducted an interview with Ken Rogoff in Hong Kong…      Up to 400,000 Layoffs Expected at State, Local Level | State and local governments plan many more layoffs to close wide budget gaps.     `Mortgage Delinquencies Rising Again as Home Prices Stay Flat...`     `Roubini: Banks Too Big to Fail, Too Big to Bail Out...`

The Lights Are Going Out For Free Speech On The Internet Type the keywords “Internet censorship” into Google News and you will immediately understand to what degree the world wide web is under assault from attempts by governments globally to regulate and stifle free speech. From Australia to Belarus, from Turkey to Vietnam, from Pakistan to Egypt, from Afghanistan to Iran, huge chunks of the Internet are going dark as the Chinese model of Internet regulation is adopted worldwide. [Has everybody lost their minds? Referring to the china model as something to be emulated. It’s true they are more productive than america, generally, but their business model is almost prehistoric and the direct consequence of the great american sell-out for money (the ‘pass through’ or direct) by those who’ve pledged otherwise (walmart, congress, clinton, bush, wobama, etc.). Even some of their simplest products are junk (but priced incredibly low to make the relative value) and seem to have adopted that GM strategy of planned obsolescence, breakdown, etc., to spur sales. Then there’s the communist faux capitalism paradox, suppression, oppression, etc., which has even the defacto bankrupt, pervasively corrupt, fallen america blindly following. Quite simply, their ancient business model is slave labor. As for Iran, they are a relatively small nation under collective siege.]

US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas You already might have heard that it costs the United States $1 million for each solider per year in Afghanistan, to cover the cost of the soldiers’ benefits, troop transports and other materiel.     Billions of dollars secreted out of Kabul Spiegel Online | Billions of dollars are being secreted out of Kabul to help well-connected Afghans buy luxury villas in Dubai and then there are the american recipients who are a bit more careful with their stash.

`DRUDGEREPORT: Mortgage Delinquencies Rising Again as Home Prices Stay Flat...`
`Roubini: Banks Too Big to Fail, Too Big to Bail Out... COOKED APPLE: 103... UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`
`US v. AZ...`

The New Civil Wars Within the West Gregory R. Copley | Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America.     On Why America’s 234th Birthday May Not Have Many More To Follow Zero Hedge | It is my firm belief that we have come to the “end of the road” for the financial system.

Iran says planes denied fuel in Germany, UK, UAE Reuters | The claim could not be independently confirmed and was met abroad by skepticism. [Europe really fell fast. They make Christians look like the dumbest people in the world, along with the likes of ie., UAE if true (and defacto bankrupt america). After all, this ‘all for israel’ mantra is contraindicated inasmuch as the hebrews deny the very foundation of the Christian religion and indeed were behind his crucifixion].

`DRUDGEREPORT: Evans-Pritchard: It's Really Starting to Feel Like 1932 [Depression] ... Dow Repeats Great Depression Pattern...`
`Investors fear risk of regional defaults...`
`Obama: 'The great jobs killer'... Turkey, a leader of nations, wants war criminal israel apology, israel rejects demand ...`
`Threat 'to sever ties'...`

Dollar Plunges After UN Call To Ditch Greenback U.S. economy enters “total freefall” as double-dip recession looms.

China's Stocks Fall to 15-Month Low on Economy, Profit Outlook China's housing prices to fall, official says

Banks are Still at the Derivatives Casino (at Seeking Alpha)        [video] Washington's Bungled Bank Bailout (at TheStreet.com)        ECRI Weekly Leading Index Growth Lowest in 13 Months        Be on the Right Side of S&P Earnings Estimate Cuts

Inventory Cycle Has Run Its Course Harrison – ‘… This is the scenario I have been predicting for months now.

Double Dip Recession and the Obama 2011 Budget (February 2010): The long and short is that – come Summer – the inventory cycle’s thrust will have dissipated. And if companies are not hiring by this time and consumer spending is not increasing more robustly, then the state budgets, the strategic defaults and all of the rest of that becomes a serious obstacle. In my view, more likely than not, this will lead to another recession late in 2010 or in 2011. And nothing in the President’s budget changes this outlook.

The mindset will not change; a depressionary relapse may be coming (March 2010): the inventory cycle’s impact on GDP growth will attenuate. By the second half of 2010, inventories will not add considerably to GDP.

US GDP growth rate is unsustainable; recovery will fade (April 2010): The inventory cycle is already starting to fade. That means weak 1 or 2% growth at best by Q4 2010. Unless job growth picks up tremendously by the second half of the year, this recovery is in trouble.

David Rosenberg says the ISM leads jobs. And, the latest jobs numbers were weak.

I would be nonplused about the recent ISM data if it weren’t for the column highlighted in red. Notice how the momentum for everything is slowing. Not just the overall index, but new orders, production and employment …’

U.S. Economy “Is a Complete Disaster” Yahoo! Finance | The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come.      America is sinking under Obama’s towering debt I hope the White House is paying attention to the latest annual Congressional Budget Office Long-Term Budget Outlook, which offers a truly frightening picture of the scale of America’s national debt, with huge implications for the country’s future prosperity.       7.9 million jobs lost, many forever CNNMoney | The recession killed off 7.9 million jobs. It’s increasingly likely that many will never come back.

50 Random Facts That Make You Wonder What In The World Has Happened To America The Economic Collapse | For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die.      BP, Homeland Security, and Cops Work Together to Deny First Amendment Kurt Nimmo | BP, Homeland Security, the FBI’s Joint Terrorism Task Force, and local cops will now decide if it is acceptable for journalists to take photographs.      Will G20 Police Succeed In Covering Up Reports of Rape and Torture? Infowars.com | Can authorities be allowed to cover-up the Abu-Ghraib style incarceration methods Toronto police engaged in during the G20 summit this past weekend, where women were arrested and subsequently raped by male cops?       Emergency S.O.S.: America Falling to Foreign Bank Takeover – Fourth of July Alex Jones breaks down the takeover by offshore banking powers– newly empowered by Congress’ banking “reform,” expanded taxes worldwide, as well as accelerated moves towards ending the Dollar’s reserve status, including urging from a recent United Nations report.        More than one-quarter don’t know who US gained independence from Every Fourth of July, Americans gather to celebrate the country’s declaration of independence from … um, what country was that again?

`DRUDGEREPORT: TORN ON FOURTH OF JULY: OBAMA DIVIDES NATION...`
`Great Republic in parlous state -- politically, economically...`

`YEAR 9: Petraeus in Afghanistan warns of tough mission...`
`'We are in this to win' … Win what? The fact of america’s defacto bankruptcy and being there IS failure no matter what they ultimately call this debacle ... Illinois Stops Paying Its Bills...`
`Facing 'outright disaster' amid budget crisis...`

Turn On, Tune In...Nah, Just Drop Out … Discouraged workers at a new cycle high And small wonder. The median unemployment duration went to a new all-time high (since the 1940s, anyway, when that series begins) and shows no signs of slowing its ascent … (Chart, source Bloomberg)…

`YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission? What plan?.What strategy? National bankruptcy?… Mission accomplished! ...`

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

7-6-10

Markets Lose Early Bullish Momentum ‘… As I mentioned in my note on index levels this morning, there was a lot of attention paid to fund managers selling large positions over recent weeks. For now, it appears that they are taking advantage of temporarily higher prices to continue to unload positions. In many respects, this is classic behavior for a bear market, which can often have wild swings to the upside that lure in the unwary, then fade just as they seem to offer refuge and solace. Given the proximity to earnings season next week, it isn't a total surprise to see a lack of commitment on the long side. That is even more the case if traders are concerned about guidance, rather than past-quarter results. Regardless of what happens now, the loss of upside momentum after a long string of down sessions will weigh on sentiment. Those who committed to bullish positions this morning expecting a sustained move are likely now to reconsider that strategy. That could simply see more participants sidelined rather than becoming sellers. Right now the short-side is working better, and what works on the Street usually prevails until it no longer does. Note too that the weakness extends beyond just stocks. Commodities, notably energy, are having a devil of a time holding a bid.’

EQUITIES RALLY FIZZLES Midnight Trader 4:17 PM, Jul 6, 2010 – ‘Here's where markets stand at the close:

NYSE up 51.28 (+0.80%) to 6,486.09

DJIA up 57.14 (+0.59%) to 9,743.62

S&P 500 up 5.48 (+0.54%) to 1,028.06

Nasdaq up 2.09 (+0.10%) to 2,093.88

GLOBAL SENTIMENT

Hang Seng up 1.22%

Nikkei up 0.77%

FTSE up 2.93%

NYSE INDEX WATCH

NYSE Energy up 1.38% at 9,489.33

NYSE Financial up 1.07% at 4,296.82

NYSE Health Care up 0.84% at 5,760.28

NYSE Arca Tech 100 up 0.16% at 841.86

UPSIDE MOVERS
(+) WAG (+1%), June same-store sales rise 2%.
(+) GS (+1%), gets upgrade.
(+) JASO (+5.3%), inks supply deal with MEMC Electronic Materials (WFR).
(+) AUTC (+2.1%), leased vehicles rise 174% from a year earlier.
(+) PWER (+9.7%), buying back some convertible notes

DOWNSIDE MOVERS
(-) TGB (-13.3%), independent panel sees adverse effects from proposed project.
(-) SNWL (-3.6%), third party drops out of potential bidding war.
(-) YRCW (-13.2%), court orders payment to bondholders

MARKET DIRECTION
Stocks gave back most of their gains to close up only modestly as an early rally fizzled on continued concerns about the strength of the economy. The major indexes all dipped into the red late in regular-session trading before bouncing back slightly in the last hour to close in the black. The DJIA had jumped more than 170 points in the first hour of trading, but declined throughout afternoon trade led lower by retail stocks ahead of Thursday's sales reports. Retailers are scheduled to report June sales Thursday, and investors are concerned that the weak economy deterred shoppers. Shares of Macy's (M) were down about 2.5%, while Sears (SHLD) fell more 4% and Office Depot (ODP) was 5% lower. Stocks initially rallied on the day in a reversal from last week after data showed a surge in semiconductor sales, and positive news out of China overshadowed a weaker than expected strength in the nation's service sector. The Semiconductor Industry Association said global chip sales grew 4.5% in May from the prior month, besting April's record for monthly sales. And early in the session investors appeared to shrug off data that showed service sector activity grew more slowly in June, according to the Institute for Supply Management. The institute's index of non-manufacturing activity changed to to 53.8 last month, from 55.4 in May. Economists had expected a 54.9 level. In company news, BP plc (BP) shares rose 8.7%, including a late-day spike, after it reportedly said it doesn't plan to issue new equity to cover the costs of the Gulf oil spill. Speculation has been growing that the company was seeking private funding from Middle East and Asian groups to stave off possible hostile takeover bids from rivals. Anadarko Petroleum (APC) shares were briefly halted after tripping an NYSE circuit breaker at midday. The trade of 200 shares at around $100,000 a piece was quickly canceled. The company's shares traded higher despite a Sunday New York Times report that BP, facing a stiff bill for the Gulf of Mexico oil spill, would demand $272 million from Anadarko based on its 25% ownership in the Macondo well. Sanofi-Aventis (SNY) signed a deal with Dutch biotech firm Pharming to increase production capacity of its drug Ruconest in an effort to trim costs in front of an expected launch in Europe this year, Reuters reported. Pharming has struggled financially amid delays in getting the drug approved in Europe, the report said. Genzyme (GENZ) fell after The Wall Street Journal reported European regulators said they expect shortages of GENZ's drug Fabrazyme, a treatment for Fabry disease, to last through the year due to chronic production problems. The regulators added that no new patients should be started on Fabrazyme and patients requiring smaller doses of the drug be migrated to a rival product made by Shire PLC (SHPGY) called Replagal. Goldman Sachs Group Inc. (GS) gave back some earlier gains with the broader market, but remained in the black after receiving some favorable attention from Wall Street. The firm landed an upgrade after more than a half-dozen analysts downgraded the bank in recent weeks, according to a Reuters report. JP Morgan analysts Kian Abouhossein and Delphine Lee raised Goldman Sachs to Overweight from Neutral, pointing to the bank's strong Tier 1 capital levels, among other favorable elements in the firm. Commodities fell with equities in afternoon trading. Crude for August delivery had traded above $73 early in the session only to fall in the last hour to end down 0.2%, or $0.16, to $71.98 a barrel on Nymex. Gold fell $12.60, or 1%, to $1,195010 an ounce.’

The following is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far ( `UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`    `US v. AZ...`   Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.

My Short-Term Market Forecast Graham Summers –‘We’re at a critical juncture. Last week I thought it possible that we would see a bounce. Stocks were oversold in the short-term and institutional money managers had every incentive to push for a strong end of June performance. Indeed, they needed to hold the S&P 500 at 1070 to make June a break-even or better performance. Coming on the tail of the worst May since 1940, I thought for sure we’d see some serious performance gaming. It was, after all, the end of 2Q10. [chart] Instead, we got another severe sell-off with stocks breaking to new lows from their collapse off the late April high. [chart] It’s as though the entire world suddenly jumped on the Bear bandwagon in a matter of weeks. It’s extraordinary given that most everyone was a Bull up until late April. And yet, here we are, a mere eight weeks later and suddenly the whole investing world is talking about a double dip in the economy, the bear market returning, and the famous “head and shoulders” pattern that has become a mainstream talking point: [chart] It’s truly odd given that ALL of the facts the investing world is now collectively realizing have been staring us in the face for months. It’s not as though anything really changed. Last year’s “recovery” was in fact simply a “things not getting as horrible quite as quickly” stage in the worst economic downturn in 80 years. The fact that every monetary faucet was opened and every accounting gimmick implemented to attain a mere slowing (not a true reversal) of the downturn should give you an idea of just how terrible things are in the real world. Collectively, the entire world spent more money in one year than was spent during WWI, WWII, and the New Deal combined. And all we got for it was a one-year melt-up in various asset classes. This is truly worrisome because it indicates that most assets are now trading at levels severely detached from economic realities. This, of course, is something I’ve been warning about for over a year. To be honest, I don’t know how the entire world failed to see it. But the last eight weeks indicate that the world is now waking up to these facts: that all talk of recovery and a new bull market was in fact a load of bunk backed by weak if not outright fraudulent data. Whenever the whole investing world wakes up to something, the potential for extraordinary market action increases dramatically. Today that “extraordinary market action” is a potential 1987-type event. Given the feeble state of the financial system as well as the insane level of computer trading occurring in the stocks market, this is definitely a possibility. However, we need to remember that few if any expected the October 1987 debacle. You certainly did not see major financial outlets talking about a full-scale collapse occurring soon (something that is happening today). So I for one am a bit suspicious about the talk of a sudden and immediate Crash. So far, the market action for this last leg down has occurred in a very different fashion from what happened in 1987. The lead up to October 1987: [chart] The lead up to today: [chart] Moreover, thus far the collapse has occurred in a stair-step fashion, not the sort of tension before falling off a cliff-action seen in 1987: [chart] So while the possibility of a 1987 event is there, I think we’re likely to continue to see this kind of “down the stairs” collapse instead. Of course, it never pays to be married to one forecast. For that reason, having some open shorts to profit from a potential 1987 Collapse isn’t a bad idea. However, if you’re looking to maximize the profits from the type of drops we’re seeing, you need to get in and get out using temporary bottoms to lock in the gains and temporary rallies to enter new positions.’

Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression Following Nobel Laureate Paul Krugman’s declaration last week that the U.S. is in entering a third period of great depression, more and more economists are following suit, comparing the scale of the crisis to that of the early 1930s.      Profits and Moves Behind the Downturn The Fed says US unemployment is likely to stay high for a long time, and that justifies zero interest rates indefinitely.    Is America Really Free, If A Privately-Owned Central Bank Controls Our Currency And Runs Our Economy? This weekend we celebrated America’s Independence Day. But are we really a free nation? The truth is that it is really hard to argue that we are “free” when our currency system and our economy are run by an unelected privately-owned central bank.      TSA To Block Websites With “Controversial Opinions” The Transportation Security Administration will block all websites that contain “controversial opinion” from its federal computers in the latest example of how Internet censorship is expanding in both the private and public sector as the federal government prepares to push through a power grab that will empower President Obama to shut down the world wide web with an emergency decree.

With the US trapped in depression, this really is starting to feel like 1932 Ambrose Evans-Pritchard | “All the booster rockets for getting us beyond it are failing.”      Global Elites Struggle to Keep EU, Euro Intact James P. Tucker | Bilderberg members pushed hard in a frantic attempt to save the euro during the recent weekend-long economic summit in Toronto.      Euro Weakens, Bonds Rise on Trichet Austerity Comments; Stocks Fluctuate Bloomberg | The euro ended a three-day winning streak and bonds rose after European Central Bank President Jean-Claude Trichet urged “austerity” measures to contain budget deficits.

Banks Too Big to Fail, Too Big to Bail Out: Roubini European governments face the quandary of being unable to afford to bail out banks that are still considered too big to fail, while the global economy is heading for a slowdown in the second half of the year, economist Nouriel Roubini of Roubini Global Economics told CNBC Tuesday.     Graduates warned of record 70 applicants for every job Graduates are facing the most intense scramble in a decade to get a job this summer, as a poll of employers reveals the number of applications for each vacancy has surged to nearly 70 while the number of available positions is predicted to fall by nearly 7%.      Analyst: Gold To bounce back to $1,309 While prices may weaken in the near term, the underlying trend is strong.     Ken Rogoff: “China Property Market Collapse Starting” Tomorrow morning Bloomberg TV conducted an interview with Ken Rogoff in Hong Kong…      Up to 400,000 Layoffs Expected at State, Local Level | State and local governments plan many more layoffs to close wide budget gaps.     `Mortgage Delinquencies Rising Again as Home Prices Stay Flat...`
`Roubini: Banks Too Big to Fail, Too Big to Bail Out...`

The Lights Are Going Out For Free Speech On The Internet Type the keywords “Internet censorship” into Google News and you will immediately understand to what degree the world wide web is under assault from attempts by governments globally to regulate and stifle free speech. From Australia to Belarus, from Turkey to Vietnam, from Pakistan to Egypt, from Afghanistan to Iran, huge chunks of the Internet are going dark as the Chinese model of Internet regulation is adopted worldwide. [Has everybody lost their minds? Referring to the china model as something to be emulated. It’s true they are more productive than america, generally, but their business model is almost prehistoric and the direct consequence of the great american sell-out for money (the ‘pass through’ or direct) by those who’ve pledged otherwise (walmart, congress, clinton, bush, wobama, etc.). Even some of their simplest products are junk (but priced incredibly low to make the relative value) and seem to have adopted that GM strategy of planned obsolescence, breakdown, etc., to spur sales. Then there’s the communist faux capitalism paradox, suppression, oppression, etc., which has even the defacto bankrupt, pervasively corrupt, fallen america blindly following. Quite simply, their ancient business model is slave labor. As for Iran, they are a relatively small nation under collective siege.]        Foreign Troops Training To Confiscate Guns of Americans In Operation Vigilant Guard, a Prison Planet.tv exclusive, Infowars.com reporters and filmmakers Rob Dew and Jason Douglass venture to Chicago, Illinois, to document the militarization of domestic response during disasters and terrorist events in the United States.       US Government to Sue Arizona Over Immigration Law The lawsuit will argue that the new law, which requires state and local police to question and possibly arrest illegal immigrants during the enforcement of other laws such as traffic stops, violates the Constitution and usurps federal authority.

US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas You already might have heard that it costs the United States $1 million for each solider per year in Afghanistan, to cover the cost of the soldiers’ benefits, troop transports and other materiel.     Billions of dollars secreted out of Kabul Spiegel Online | Billions of dollars are being secreted out of Kabul to help well-connected Afghans buy luxury villas in Dubai and then there are the american recipients who are a bit more careful with their stash.

`DRUDGEREPORT: Mortgage Delinquencies Rising Again as Home Prices Stay Flat...`
`Roubini: Banks Too Big to Fail, Too Big to Bail Out... COOKED APPLE: 103... UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...`
`US v. AZ...`

The New Civil Wars Within the West Gregory R. Copley | Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America.     On Why America’s 234th Birthday May Not Have Many More To Follow Zero Hedge | It is my firm belief that we have come to the “end of the road” for the financial system.

Officials say BP spill now hitting all Gulf states (AP)         Clinton ridiculously, preposterously criticizes Russia for occupying Georgia when they are just vaguely following the american / israeli / nato paradigm and with far less bloodshed (AP)

Military Patrols Beach in Panama City Kurt Nimmo | The presence of soldiers on a crowded beach during a holiday weekend has but one purpose — to acclimate citizens to the prospect of troops patrolling public spaces.        Despite Rumors, Officials Insist No Gulf Evacuation Planned Despite growing rumors that there are plans for an imminent evacuation of the area affected by the BP oil spill, officials insist that no such program is being considered, attributing the stories to Internet bloggers with overactive imaginations.            TSA To Block Websites With “Controversial Opinions” Infowars.com | Move to shut down free speech on the Internet accelerates      Profits and Moves Behind the Downturn Bob Chapman | The unemployed won’t get extended benefits, but the bankers and Wall Street got most of what they wanted in the financial reform package.       John Gormley: Fluoride, GMO and the Rockefeller Communist ‘Coincidence’ Sovereign Independent | The facts on fluoride listed below are fully referenced for anyone doubting that it is detrimental to human and animal health.

Iran says planes denied fuel in Germany, UK, UAE Reuters | The claim could not be independently confirmed and was met abroad by skepticism. [Europe really fell fast. They make Christians look like the dumbest people in the world, along with the likes of ie., UAE if true. After all, this ‘all for israel’ mantra is contraindicated inasmuch as the hebrews deny the very foundation of the Christian religion and indeed were behind his crucifixion].

`DRUDGEREPORT: Evans-Pritchard: It's Really Starting to Feel Like 1932 [Depression] ... Dow Repeats Great Depression Pattern...`
`Investors fear risk of regional defaults...`
`Obama: 'The great jobs killer'... Turkey, a leader of nations, wants war criminal israel apology, israel rejects demand ...`
`Threat 'to sever ties'...`

Dollar Plunges After UN Call To Ditch Greenback U.S. economy enters “total freefall” as double-dip recession looms.

China's Stocks Fall to 15-Month Low on Economy, Profit Outlook July 5 (Bloomberg) -- China's stocks declined, driving the benchmark index to a 15-month low, on concern a slowdown in the world's third-largest economy and fundraising by banks will dent profits and hurt existing shareholders' stakes       China's housing prices to fall, official says

Banks are Still at the Derivatives Casino (at Seeking Alpha)        [video] Washington's Bungled Bank Bailout (at TheStreet.com)        ECRI Weekly Leading Index Growth Lowest in 13 Months        Be on the Right Side of S&P Earnings Estimate Cuts

Inventory Cycle Has Run Its Course Harrison – ‘… This is the scenario I have been predicting for months now.

Double Dip Recession and the Obama 2011 Budget (February 2010): The long and short is that – come Summer – the inventory cycle’s thrust will have dissipated. And if companies are not hiring by this time and consumer spending is not increasing more robustly, then the state budgets, the strategic defaults and all of the rest of that becomes a serious obstacle. In my view, more likely than not, this will lead to another recession late in 2010 or in 2011. And nothing in the President’s budget changes this outlook.

The mindset will not change; a depressionary relapse may be coming (March 2010): the inventory cycle’s impact on GDP growth will attenuate. By the second half of 2010, inventories will not add considerably to GDP.

US GDP growth rate is unsustainable; recovery will fade (April 2010): The inventory cycle is already starting to fade. That means weak 1 or 2% growth at best by Q4 2010. Unless job growth picks up tremendously by the second half of the year, this recovery is in trouble.

David Rosenberg says the ISM leads jobs. And, the latest jobs numbers were weak.

I would be non-plussed about the recent ISM data if it weren’t for the column highlighted in red. Notice how the momentum for everything is slowing. Not just the overall index, but new orders, production and employment …’

U.S. Economy “Is a Complete Disaster” Yahoo! Finance | The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come.      America is sinking under Obama’s towering debt I hope the White House is paying attention to the latest annual Congressional Budget Office Long-Term Budget Outlook, which offers a truly frightening picture of the scale of America’s national debt, with huge implications for the country’s future prosperity.       7.9 million jobs lost, many forever CNNMoney | The recession killed off 7.9 million jobs. It’s increasingly likely that many will never come back.

50 Random Facts That Make You Wonder What In The World Has Happened To America The Economic Collapse | For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die.      BP, Homeland Security, and Cops Work Together to Deny First Amendment Kurt Nimmo | BP, Homeland Security, the FBI’s Joint Terrorism Task Force, and local cops will now decide if it is acceptable for journalists to take photographs.      Will G20 Police Succeed In Covering Up Reports of Rape and Torture? Infowars.com | Can authorities be allowed to cover-up the Abu-Ghraib style incarceration methods Toronto police engaged in during the G20 summit this past weekend, where women were arrested and subsequently raped by male cops?      Emergency S.O.S.: America Falling to Foreign Bank Takeover – Fourth of July Alex Jones breaks down the takeover by offshore banking powers– newly empowered by Congress’ banking “reform,” expanded taxes worldwide, as well as accelerated moves towards ending the Dollar’s reserve status, including urging from a recent United Nations report.        More than one-quarter don’t know who US gained independence from Every Fourth of July, Americans gather to celebrate the country’s declaration of independence from … um, what country was that again?

`DRUDGEREPORT: TORN ON FOURTH OF JULY: OBAMA DIVIDES NATION...`
`Great Republic in parlous state -- politically, economically...`

`YEAR 9: Petraeus in Afghanistan warns of tough mission...`
`'We are in this to win' … Win what? The fact of america’s defacto bankruptcy and being there IS failure no matter what they ultimately call this debacle ... Illinois Stops Paying Its Bills...`
`Facing 'outright disaster' amid budget crisis...`

Turn On, Tune In...Nah, Just Drop Out … Discouraged workers at a new cycle high And small wonder. The median unemployment duration went to a new all-time high (since the 1940s, anyway, when that series begins) and shows no signs of slowing its ascent … (Chart, source Bloomberg). Extended benefits and long periods of unemployment - which causes which? Taken together, this paints the picture of an employment situation that is at best treading water, but more realistically one that is marginally worsening. The problem with the charts above aren’t the levels, per se – they are high, but six months from now they will still be high. The problem of course is the trend, or rather the lack of any sign that the trend is improving. I want to point out that this should not be news. None of the economic trends that we track from month to month is showing any sign of improving at this stage, and as I have pointed out repeatedly the economy looks to be plodding along in just about the condition it was in before Lehman’s bankruptcy, before the government saved Fannie (FNM) and Freddie (FRE), before the Federal Reserve cut rates to zero, before the massive fiscal stimulus was voted on. Vehicle sales: weak. Employment: weak. Manufacturing output: good, but fading fast as the stimulus dollars fade. Construction, home sales, confidence: weak, weak, weak. Retail Sales: weak. Leadership: yep, that too …

`YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission? What plan?.What strategy? National bankruptcy?… Mission accomplished! ...`

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

`JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...`
`Rate dips as 652,000 give up search...`
`Depressing... [That’s why they’re called depressions (just kidding … but no laughing matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].`

U.S. Stock Market T. ROWE PRICE: Week Ended July 2, 2010 - Stocks fell for the second week to round out their first quarterly decline in over a year. The major indexes declined every day of the week as investors grew increasingly concerned about the durability of the economic recovery. Stocks fell particularly sharply on Tuesday, after the Conference Board reported a sharp drop in consumer confidence in June and a decline in its leading indicator of growth in the Chinese economy. Signs of renewed weakening in the housing market despite mortgage rates being near record lows weighed on sentiment as well, as an index of pending home sales in May fell back to its lowest seasonally adjusted level since 2001. Investors also worried about signs job growth was slowing. On Wednesday, payroll processing firm ADP reported only a modest rise in June for its gauge of private sector employment, and Thursday brought word of an unexpected rise in weekly jobless claims. The Labor Department's broader payrolls report on Friday showed an uptick in private-sector hiring in the month, but also the first overall decrease in several months as thousands of temporary census jobs came to an end. Investors were also discouraged by a larger-than-expected decline in factory orders in May.

U.S. Stocks

Index

Friday's Close

Week's Change

% Change
Year-to-Date

DJIA

9686.48

-457.33

-7.11%

S&P 500

1022.58

-54.18

-8.30%

NASDAQ Composite

2091.79

-131.69

-7.82%

S&P MidCap 400

702.29

-42.98

-3.36%

Russell 2000

601.37

-41.72

-5.16%

Dow Seven-Day Losing Streaks Yesterday we noted that the percentage of stocks in the S&P 500 trading above their 50-day moving averages was down to levels not seen since the late 2008 collapse. Now the Dow is on a 7-day losing streak, which also hasn't happened since late 2008 (10/9/08). There have been 32 prior 7-day losing streaks for the Dow over the last 50 years. And just because the index has been down doesn't mean it's due for a rally. Historically the index has been essentially flat on day 8, and averaged a decline of 0.29% over the next week. The median change over the next week is even worse at -0.92%, and gains over the next week have only occurred 31% of the time …

WALL ST WEEK AHEAD: BULLS ON THE RUN IN SHORTENED WEEK July 2 (Reuters) - Bearish bets in the equity options market, coupled with an increasingly sour view from a technical perspective, suggest stocks will struggle to break from a vicious two-month downtrend next week. With few catalysts on tap, it could be difficult for investors to find a reason to buy even as recent declines and a jobs report that didn't confirm investors' worst fears present the opportunity for a short-term boost. Markets will be closed on Monday for Independence Day, and the holiday is expected to depress volume during the week, making equities more vulnerable to large swings following the worst week for the S&P 500 in two months. "Only about 30 percent of stocks are above their 200-day moving averages, so the vast majority are on a downtrend," said Frank Gretz, a market analyst at Shields & Co in New York. "The market needs to prove itself with a rally on strong volume, and that's going to be hard to get with the holiday and the bad news we've seen creating more pessimism." For the week, the Dow fell 4.5 percent, the S&P lost 5 percent and the Nasdaq shed 5.9 percent. Over the past couple of months, markets have been beset with a string of negative data showing weaker-than-expected retail sales, consumer confidence and plunging home sales. The data was capped by Friday's weak payrolls report. BETTING ON DECLINES Options activity on exchange-traded funds (ETF) that tracks the S&P 500 benchmark and the Nasdaq suggest that investors are betting on further declines …

Ron Paul: 114 Flip Flop on Audit The Fed Causing Bill to Fail 229 – 198 Ron Paul’s attempt to audit the Federal Reserve, which was previously co-sponsored by 320 members of the House (HR 1207), failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 122 co-sponsors of HR 1207, all Democrats, jumped ship and voted against the measure.     The Future of Audit the Fed Congressman Ron Paul discusses the latest in the efforts to get a full and complete audit of the Fed as well as the future of Fed transparency. Like Congressman Paul says, we’ve accomplished a lot of good with our movement, and there’s many reasons to be optimistic for the future.     Ditch the Buck! Dollar demise ‘a matter of months’ A report by the United Nations says the American dollar should be ditched as the main global reserve currency. It said that the global financial meltdown has exposed systematic weaknesses, one of which is the reliance on the greenback.      G-20 is Relying on China To Drive the World Economy … But China Isn’t Looking So Hot The G-20 is apparently relying on China to drive the world economy.

Middle class families face a triple whammy Edmund Conway | Falling pensions, cuts and the banking crisis will impoverish many families.

GOP chairman: Afghan 'war of Obama's choosing' (AP) - Republican chairman Michael Steele drew criticism from within his own party Friday, including calls to resign, after saying the 9-year-old commitment of U.S. troops to Afghanistan was a mistaken ... [Steele is quite right and wobama and war facilitators deserve criticism; not Steele.]       Pelosi: Unemployment Checks Fastest Way to Create Jobs “It creates jobs faster than almost any other initiative you can name.” [pelosi’s so ‘in over her head’, burnt out, borderline senile, etc.]       Seventy million expired flu vaccines about to be incinerated as waste [government / corporate welfare / fraud] Forty million doses of H1N1 swine flu vaccine are about to go up in flames, and another 30 million will soon meet the same fate. They’ve expired, you see, and despite the CDC’s best efforts to push flu vaccines on the American people, the industry still couldn’t find a way to offload seventy million doses of a vaccine that doesn’t even work.

Israel Suspected in Bogus Claim Iran Developing Nuclear Trigger Kurt Nimmo | The bogus claim prompted a new round of support for more aggressive U.S. and European sanctions against Iran.      Ron Paul: Audit The Fed Bill Fails After Former Co-Sponsors Flip-Flop | Ron Paul’s attempt to audit the Federal Reserve failed, after more than 100 former co-sponsors of the bill jumped ship and voted against the measure.      Dollar Plunges After UN Call To Ditch Greenback | U.S. economy enters “total freefall”.

50 Random Facts That Make You Wonder What In The World Has Happened To America   - The Economic Collapse July 2, 2010 Our world is changing at a pace that is so staggering these days that it can be really hard to fully grasp the significance of what we are witnessing. Hopefully the collection of random facts below will help you to “connect the dots” just a little bit. On one level, the facts below may not seem related. However, what they all do have in common is that they show just how much the United States has fundamentally changed. Do you ever just sit back and wonder what in the world has happened to America? The truth is that the America that so many of us once loved so much has been shattered into a thousand pieces. The “land of the free and the home of the brave” has been transformed into a socialized Big Brother nanny state that is oozing with corruption and has accumulated the biggest mountain of debt in the history of the world. The greatest economic machine that the world has ever seen is falling apart before our very eyes, and even when our politicians actually try to do something right (which is quite rare) the end result is still a bunch of garbage. For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die.

7-2-10

The following is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far:

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth a look.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘THE OBAMA DECEPTION’ – well worth the view.

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

`JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...`
`Rate dips as 652,000 give up search...`
`Depressing... [That’s why they’re called depressions (just kidding … but no laughing matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].`

U.S. Stock Market T. ROWE PRICE: Week Ended July 2, 2010 - Stocks fell for the second week to round out their first quarterly decline in over a year. The major indexes declined every day of the week as investors grew increasingly concerned about the durability of the economic recovery. Stocks fell particularly sharply on Tuesday, after the Conference Board reported a sharp drop in consumer confidence in June and a decline in its leading indicator of growth in the Chinese economy. Signs of renewed weakening in the housing market despite mortgage rates being near record lows weighed on sentiment as well, as an index of pending home sales in May fell back to its lowest seasonally adjusted level since 2001. Investors also worried about signs job growth was slowing. On Wednesday, payroll processing firm ADP reported only a modest rise in June for its gauge of private sector employment, and Thursday brought word of an unexpected rise in weekly jobless claims. The Labor Department's broader payrolls report on Friday showed an uptick in private-sector hiring in the month, but also the first overall decrease in several months as thousands of temporary census jobs came to an end. Investors were also discouraged by a larger-than-expected decline in factory orders in May.

U.S. Stocks

Index

Friday's Close

Week's Change

% Change
Year-to-Date

DJIA

9686.48

-457.33

-7.11%

S&P 500

1022.58

-54.18

-8.30%

NASDAQ Composite

2091.79

-131.69

-7.82%

S&P MidCap 400

702.29

-42.98

-3.36%

Russell 2000

601.37

-41.72

-5.16%

Late 'Stick Save' Didn't Hold: Dave's Daily - Dueling HAL 9000's were on full display Friday as stocks rose and fell sharply early on disappointing news (NFP report and Factory Orders) which was logical. But then (late in the day) the algo driven machines strutted their stuff showing investors how broken markets are, rising and falling sharply within a few minutes. So, the "casino-like" algo driven environment continues. To be sure, with late volume light as traders fled for distant vacation environments, they forgot to turn HAL off making a mockery of trading. Seriously, the news for the past few weeks overall has been terrible. You don't need me to regurgitate this litany of crummy news. Some will say stocks are cheap but that would be misleading as earnings revisions are underway compromising that argument …

IN EQUITIES, TOPSY-TURVY CLOSE LEAVES DOW LOSING STREAK AT SEVEN **- Midnight Trader 4:20 PM, Jul 2, 2010 -- Here's where markets stand at the close:

NYSE down 27.22 (-0.42%) to 6,434.81

DJIA down 46.05 (-0.47%) to 9,686.48

S&P 500 down 4.79 (-0.47%) to 1,022.58

Nasdaq down 9.57 (-0.46%) to 2,091.79

GLOBAL SENTIMENT

Hang Seng down 1.11%

Nikkei up 0.13%

FTSE up 0.67%

MID-DAY NYSE INDEX WATCH

NYSE Energy up 0.47% at 9,360.21
NYSE Financial down 0.67% at 4,251.42
NYSE Health Care down 0.33% at 5,712.12
NYSE Arca Tech 100 down 0.24% at 840.49

UPSIDE MOVERS

(+) ARNA (+8.43%), higher on upgrade.
(+) MEND (+4.74%), being added to S&P SmallCap 600 Index.
(+) PT (0.00%), gets upgrade.

DOWNSIDE MOVERS

(-) HLX (-7.4%), down after updates on oil and gas divestments efforts and mid-year reserves.
(-) SNY (-3.2%), down after declining to comment on report it was preparing an
acquisition of $20 billion or more in the United States.

MARKET DIRECTION

Stocks end trading lower in a topsy-turvy last 15 minutes of trading that saw all major indices break into positive territory only to sink lower in a last minute slide. Disappointing jobs data and a manufacturing report showed mixed signals about the economy and set the tone for the entire session. Non-farm payrolls fell 125,000 in June. Economists polled by Thomson Reuters forecast employers cut 110,000 jobs. The unemployment rate fell to 9.5%, versus expectations for 9.8%. There also was an 83,000 increase in private payrolls in June, lower than economists estimated. Meanwhile, the Commerce Department said orders for manufactured goods decreased 1.4% in May. It was the biggest drop since March 2009. Allergan (AGN) and Biogen (BIIB) are higher as analysts speculate that Sanofi-Aventis (SNY) might be interested in buying one of those companies. SNY declined to comment on Friday on a Bloomberg report that it was preparing an acquisition of $20 billion or more in the United States. SNY reportedly is actively looking for acquisitions to find new sources of growth as its own product pipeline is drying out and some research projects have been pulled. Delta Air Lines (DAL) and US Airways (LCC) plan to sue the government, claiming it has no power to block a deal to let them swap landing and takeoff slots at airports in Washington and New York. Regulators demanded the two airlines give some of the slots to rivals, MarketWatch reported. To get US Air slots at LaGuardia in New York, Delta wanted to trade its slots at Reagan National in Washington, according to the AP. InterContinental Exchange (ICE) is down despite reporting record futures volume and average daily volume (ADV) for Q2. Futures ADV increased 36%, including year-over-year growth of 24% for the month of June 2010. ICE also achieved record average daily commissions (ADC) of $1.43 million in its OTC energy business during the second quarter of 2010, up 26% from the prior Q2, it said. Shares of Red Robin Gourmet Burgers (RRGB) finished higher after Biglari Holdings (BH) said it holds a 6% stake in the restaurant chain, MarketWatch reported. Google (GOOG) shares were lower on news the Internet search company plans to buy ITA Software, one of Web's key providers of airline travel technology, according to a Reuters report. The buy could potentially stoke antitrust concerns among regulators, the report said. Google reportedly says the move will improve the way consumers find flight information online. BP Plc's (BP) first relief well aimed at plugging its Gulf of Mexico gusher is seven to eight days ahead of schedule to intercept and eventually stop the biggest oil leak in U.S. history. The target for intercepting the leaking well and pumping in mud and cement to permanently seal it is still mid-August, U.S. National Incident Commander Thad Allen said today on a conference call with reporters. The well is within 600 feet (182 meters) of intercepting the leak, he said. Crude-oil for August delivery ended down 1.1%, or $0.82, to $72.14 a barrel on the New York Mercantile Exchange. Gold for August delivery rose $1, or 0.1%, to $1,207.70 an ounce.

Dow Seven-Day Losing Streaks Yesterday we noted that the percentage of stocks in the S&P 500 trading above their 50-day moving averages was down to levels not seen since the late 2008 collapse. Now the Dow is on a 7-day losing streak, which also hasn't happened since late 2008 (10/9/08). There have been 32 prior 7-day losing streaks for the Dow over the last 50 years. And just because the index has been down doesn't mean it's due for a rally. Historically the index has been essentially flat on day 8, and averaged a decline of 0.29% over the next week. The median change over the next week is even worse at -0.92%, and gains over the next week have only occurred 31% of the time …

WALL ST WEEK AHEAD: BULLS ON THE RUN IN SHORTENED WEEK July 2 (Reuters) - Bearish bets in the equity options market, coupled with an increasingly sour view from a technical perspective, suggest stocks will struggle to break from a vicious two-month downtrend next week. With few catalysts on tap, it could be difficult for investors to find a reason to buy even as recent declines and a jobs report that didn't confirm investors' worst fears present the opportunity for a short-term boost. Markets will be closed on Monday for Independence Day, and the holiday is expected to depress volume during the week, making equities more vulnerable to large swings following the worst week for the S&P 500 in two months. "Only about 30 percent of stocks are above their 200-day moving averages, so the vast majority are on a downtrend," said Frank Gretz, a market analyst at Shields & Co in New York. "The market needs to prove itself with a rally on strong volume, and that's going to be hard to get with the holiday and the bad news we've seen creating more pessimism." For the week, the Dow fell 4.5 percent, the S&P lost 5 percent and the Nasdaq shed 5.9 percent. Over the past couple of months, markets have been beset with a string of negative data showing weaker-than-expected retail sales, consumer confidence and plunging home sales. The data was capped by Friday's weak payrolls report. BETTING ON DECLINES Options activity on exchange-traded funds (ETF) that tracks the S&P 500 benchmark and the Nasdaq suggest that investors are betting on further declines …

Ron Paul: 114 Flip Flop on Audit The Fed Causing Bill to Fail 229 – 198 Ron Paul’s attempt to audit the Federal Reserve, which was previously co-sponsored by 320 members of the House (HR 1207), failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 122 co-sponsors of HR 1207, all Democrats, jumped ship and voted against the measure.     The Future of Audit the Fed Congressman Ron Paul discusses the latest in the efforts to get a full and complete audit of the Fed as well as the future of Fed transparency. Like Congressman Paul says, we’ve accomplished a lot of good with our movement, and there’s many reasons to be optimistic for the future.     Ditch the Buck! Dollar demise ‘a matter of months’ A report by the United Nations says the American dollar should be ditched as the main global reserve currency. It said that the global financial meltdown has exposed systematic weaknesses, one of which is the reliance on the greenback.      G-20 is Relying on China To Drive the World Economy … But China Isn’t Looking So Hot The G-20 is apparently relying on China to drive the world economy.

Middle class families face a triple whammy Edmund Conway | Falling pensions, cuts and the banking crisis will impoverish many families.**

GOP chairman: Afghan 'war of Obama's choosing' (AP) - Republican chairman Michael Steele drew criticism from within his own party Friday, including calls to resign, after saying the 9-year-old commitment of U.S. troops to Afghanistan was a mistaken ... [Steele is quite right and wobama and war facilitators deserve criticism; not Steele.]       Pelosi: Unemployment Checks Fastest Way to Create Jobs “It creates jobs faster than almost any other initiative you can name.” [pelosi’s so ‘in over her head’, burnt out, borderline senile, etc.]       Seventy million expired flu vaccines about to be incinerated as waste [government / corporate welfare / fraud] Forty million doses of H1N1 swine flu vaccine are about to go up in flames, and another 30 million will soon meet the same fate. They’ve expired, you see, and despite the CDC’s best efforts to push flu vaccines on the American people, the industry still couldn’t find a way to offload seventy million doses of a vaccine that doesn’t even work.

Israel Suspected in Bogus Claim Iran Developing Nuclear Trigger Kurt Nimmo | The bogus claim prompted a new round of support for more aggressive U.S. and European sanctions against Iran.      Ron Paul: Audit The Fed Bill Fails After Former Co-Sponsors Flip-Flop | Ron Paul’s attempt to audit the Federal Reserve failed, after more than 100 former co-sponsors of the bill jumped ship and voted against the measure.      Dollar Plunges After UN Call To Ditch Greenback | U.S. economy enters “total freefall”.

50 Random Facts That Make You Wonder What In The World Has Happened To America   - The Economic Collapse July 2, 2010 Our world is changing at a pace that is so staggering these days that it can be really hard to fully grasp the significance of what we are witnessing. Hopefully the collection of random facts below will help you to “connect the dots” just a little bit. On one level, the facts below may not seem related. However, what they all do have in common is that they show just how much the United States has fundamentally changed. Do you ever just sit back and wonder what in the world has happened to America? The truth is that the America that so many of us once loved so much has been shattered into a thousand pieces. The “land of the free and the home of the brave” has been transformed into a socialized Big Brother nanny state that is oozing with corruption and has accumulated the biggest mountain of debt in the history of the world. The greatest economic machine that the world has ever seen is falling apart before our very eyes, and even when our politicians actually try to do something right (which is quite rare) the end result is still a bunch of garbage. For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die.

The following are 50 random facts that show just how dramatically america has changed….

#50) A new report released by the United Nations is publicly calling for the establishment of a world currency and none of the major news networks are even covering it.
#49) Arnold Schwarzenegger has ordered California State Controller John Chiang to reduce state worker pay for July to the federal minimum allowed by law — $7.25 an hour for most state workers.
#48) A police officer in Oklahoma recently tasered an 86-year-old disabled grandma in her bed and stepped on her oxygen hose until she couldn’t breathe because they considered her to be a “threat”.
#47) In early 2009, U.S. net national savings as a percentage of GDP went negative for the first time since 1952, and it has continued its downward trend since then.
#46) Corexit 9500 is so incredibly toxic that the UK’s Marine Management Organization has completely banned it, so if there was a major oil spill in the North Sea, BP would not be able to use it. And yet BP has dumped over a million gallons of dispersants such as Corexit 9500 into the Gulf of Mexico.
#45) For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
#44) It has come out that one employee used a Federal Emergency Management Agency credit card to buy $4,318 in “Happy Birthday” gift cards. Two other FEMA officials charged the cost of 360 golf umbrellas ($9,000) to the taxpayers.
#43) Researchers at the State University of New York at Buffalo received $389,000 from the U.S. government to pay 100 residents of Buffalo $45 each to record how much malt liquor they drink and how much pot they smoke each day.
#42) The average duration of unemployment in the United States has risen to an all-time high.
#41) The bottom 40 percent of all income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
#40) In the U.S., the average federal worker now earns about twice as much as the average worker in the private sector.
#39) Back in 1950 each retiree’s Social Security benefit was paid for by 16 workers. Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers. By 2025 it is projected that there will be approximately two workers for each retiree.
#38) According to a U.S. Treasury Department report to Congress, the U.S. national debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015.
#37) The federal government actually has the gall to ask for online donations that will supposedly go towards paying off the national debt.
#36) The Cactus Bug Project at the University Of Florida was allocated $325,394 in economic stimulus funds to study the mating decisions of cactus bugs.
#35) A dinner cruise company in Chicago got nearly $1 million in economic stimulus funds to combat terrorism.
#34) It is being reported that a 6-year-old girl from Ohio is on the “no fly” list maintained by U.S. Homeland Security.
#33) During the first quarter of 2010, the total number of loans that are at least three months past due in the United States increased for the 16th consecutive quarter.
#32) According to a new report, Americans spend twice as much as residents of other developed countries on healthcare, but get lower quality and far less efficiency.
#31) Some experts are warning that the cost of bailing out Fannie Mae and Freddie Mac could reach as high as $1 trillion.
#30) The FDA has announced that the offspring of cloned animals could be in our food supply right now and that there is nothing that they can do about it.
#29) In May, sales of new homes in the United States dropped to the lowest level ever recorded.
#28) In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has ranged between 300 to 500 to one.
#27) Federal border officials recently said that Mexican drug cartels have not only set up shop on American soil, they are actually maintaining lookout bases in strategic locations in the hills of southern Arizona.
#26) The U.S. government has declared some parts of Arizona off limits to U.S. citizens because of the threat of violence from Mexican drug smugglers.
#25) According to the credit card repayment calculator, if you owe $6000 on a credit card with a 20 percent interest rate and only pay the minimum payment each time, it will take you 54 years to pay off that credit card. During those 54 years you will pay $26,168 in interest rate charges in addition to the $6000 in principal that you are required to pay back.
#24) According to prepared testimony by Goldman Sachs Chief Operating Officer Gary Cohn, Goldman Sachs shorted roughly $615 million of the collateralized debt obligations and residential mortgage-backed securities the firm underwrote since late 2006.
#23) The six biggest banks in the United States now possess assets equivalent to 60 percent of America’s gross national product.
#22) Four of the biggest U.S. banks (Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup) had a “perfect quarter” with zero days of trading losses during the first quarter of 2010.
#21) 1.41 million Americans filed for personal bankruptcy in 2009 – a 32 percent increase over 2008.
#20) BP has hired private security contractors to keep the American people away from oil cleanup sites and nobody seems to care.
#19) Barack Obama is calling for a “civilian expeditionary force” to be sent to Afghanistan and Iraq to help overburdened military troops build infrastructure.
#18) On June 18th, two Christians decided that they would peacefully pass out copies of the gospel of John on a public sidewalk outside a public Arab festival in Dearborn, Michigan and within 3 minutes 8 policemen surrounded them and placed them under arrest.
#17) It is being reported that sales of foreclosed homes in Florida made up nearly 40 percent of all home purchases in the first part of this year.
#16) During a recent interview with Larry King, former first lady Laura Bush revealed to the world that she is actually in favor of legalized gay marriage and a woman’s “right” to abortion.
#15) Scientists at Columbia University are warning that the dose of radiation from the new full body security scanners going into airports all over the United States could be up to 20 times higher than originally estimated.
#14) 43 percent of Americans have less than $10,000 saved for retirement.
#13) The FDIC’s deposit insurance fund now has negative 20.7 billion dollars in it, which represents a slight improvement from the end of 2009.
#12) The judge that BP is pushing for to hear an estimated 200 lawsuits on the Gulf of Mexico oil disaster gets tens of thousands of dollars a year in oil royalties and is paid travel expenses to industry conferences.
#11) In recent years the U.S. government has spent $2.6 million tax dollars to study the drinking habits of Chinese prostitutes and $400,000 tax dollars to pay researchers to cruise six bars in Buenos Aires, Argentina to find out why gay men engage in risky sexual behavior when drunk.
#10) U.S. officials say that more than three billion dollars in cash (much of it aid money paid for by U.S. taxpayers) has been stolen by corrupt officials in Afghanistan and flown out of Kabul International Airport in recent years.
#9) According to a report by the U.S. Department of Transportation’s Bureau of Transportation Statistics, the baggage check fees collected by U.S. airlines shot up 33% in the first quarter of 2010 to $769 million.
#8) Three California high school students are fighting for their right to show their American patriotism - even on a Mexican holiday - after they were forced to remove their American flag T-shirts on Cinco de Mayo.
#7) Right now, interest on the U.S. national debt and spending on entitlement programs like Social Security and Medicare are somewhere in the neighborhood of 10 to 15 percent of GDP. By 2080, they are projected to eat up approximately 50 percent of GDP.
#6) The total of all government, corporate and consumer debt in the United States is now about 360 percent of GDP.
#5) A 6-year-old girl was recently handcuffed and sent to a mental facility after throwing temper tantrums at her elementary school.
#4) In Florida, students have been arrested by police for things as simple as bringing a plastic butter knife to school, throwing an eraser, and drawing a picture of a gun.
#3) School officials in one town in Massachusetts are refusing to allow students to recite the Pledge of Allegiance.
#2) According to one new study, approximately 21 percent of children in the United States are living below the poverty line in 2010.
#1) Since 1973, more than 50 million babies have been murdered in abortion facilities across the United States.

Fed Made Taxpayers Unwitting Junk-Bond Buyers Bloomberg | So-called assets included collateralized debt obligations and mortgage-backed bonds.     Dollar Plunges After UN Call To Ditch Greenback The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).       National debt soars to highest level since WWII The federal debt will represent 62% of the nation’s economy by the end of this year.      Dollar should be replaced as international standard, U.N. report says CNN | The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said.       Double Dip Picking Up: Jobless Claims Spike To 472,000, On Expectations Of 455,000 Jobless claims were a disaster, coming in at 472k, on expectations of 455k. Prior was revised, surprise, surprise, higher to 459k from 457k. What is scariest is that between extended benefits and EUC, now that Congress has turned off the perpetual insurance spigot for the unemployed, dropped by -158,155 and -217,513.‘Jobless Recovery’ Myth as Banksters RAPE and ENSLAVE the Public! GET OFF YOUR KNEES! We’re told that this will be a ‘jobless recovery’ with further job losses expected before things get better. Well, if you believe that nonsense I’ve got a fantastic sundrenched beach on the growing ice packs of Antarctica to sell you. How on earth can there be anything called a jobless recovery? The simple answer is that there can’t!      Study: US media redefined torture after US started practicing it The US news media radically changed how it reported on the issue of waterboarding after it emerged that US forces had used the practice, says a new study from Harvard University.      The Toronto G20 Riot Fraud: Undercover Police engaged in Purposeful Provocation Toronto is right now in the midst of a massive government / media propaganda fraud. As events unfold, it is becoming increasingly clear that the ‘Black Bloc’ are undercover police operatives engaged in purposeful provocations to eclipse and invalidate legitimate G20 citizen protest by starting a riot. Government agents have been caught doing this before in Canada.

Obama Calls for Pentagon “Civilian Component” [Wow! Sounds like a plan … riiiiight!] Kurt Nimmo | Obama wants to send civilians to the occupation zones in Iraq and Afghanistan.

Drudgereport: `JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...`
`Rate dips as 652,000 give up search...`
`Depressing... [That’s why they’re called depressions (just kidding … but no laughing matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].`

`New jobless claims rise [again]...`
`'Surprise'...`
`Pending home sales plunge record 30%...`

`Weak economic data suggest 'recovery' fizzling...`
`Fears mount over slowing global demand...`

`UN committee calls for dumping US dollar...`

`Six Months to Go Until the Largest Tax Hikes in History...`

SIX MONTHS TO GO UNTIL
THE LARGEST TAX HIKES IN HISTORY

From Ryan Ellis on Thursday, July 1, 2010 4:15 PM

Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVN5aBH3

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.

The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

Second Wave: Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:

The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

The “Special Needs Kids Tax” This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.

The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include:

The AMT will ensnare over 28 million families, up from 4 million last year. According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.

Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.”

Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. The biggest is the loss of the “research and experimentation tax credit,” but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.

Tax Benefits for Education and Teaching Reduced. The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families.

Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual “required minimum distribution.” This ability will no longer be there.

Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVMwYIhK

Investors get more gloomy & bearish We just had a very difficult three month stretch for stocks. The S&P 500 fell 12% for the quarter as did NASDAQ. The Shanghai Composite, China’s largest stock index, fell 22.9 in its local currency, the yuan. The MSCI EAFE Index (foreign stocks) was down 14%. Given the negative news, it is not surprising that investors are becoming more bearish on stocks. This chart from Bespoke is based on the weekly Investors Intelligence survey, which is getting close to levels from a year ago. This is not close the peak we reached in early 2009, but the mood is definitely more negative now: [chart]

Double Dip on the Way There were many events contributing to yesterday’s sell-off, and the most likely culprits around the globe included more protests in Greece, continued to concerns about Europe at large, and a downward revision (due to a calculation error) of a leading economic indicator reading in China for the month of April. But when it comes down to it, our own economy has yet to stand on solid ground. While the recovery has continued to be shaky at best, recent economic readings may be pointing to a double dip recession. Yesterday’s batch of economic data seemed to be confirming that, as it brought a very dismal reading on consumer confidence. June’s number stood at 52.9, far below expectations of 62.5, and pointing to the consumers’ weariness about the job market, and economic recovery in general. To go further, the previous reading for May was revised downward, to 62.7 from 63.3. But the drop from May to June really sends the message home: we’re not out of the woods yet. Earlier in the week, we saw personal savings rates rise again, even while personal income growth was meager. Americans, despite bringing home a little more cash, continued to save more for the expected rainy days, and have yet to return to their spendthrift ways. After yesterday’s precipitous selling, one would expect to see a bit of a bounce in today’s trading session. That wasn’t the case, however, as more weak data continued to dampen economic hopes. Today’s culprit was the ADP private sector job report. The report stated that private payroll gains were muted in June, with only 13,000 jobs added – far less than the 60,000 expected by economists. While May’s reading was revised slightly upwards (to 57,000 hires from previously reported 55,000), today’s release does not bode well for the much anticipated report from the Bureau of Labor Statistics due out on Friday. The non-farms payroll survey includes government workers and has been inflated in recent months due to hiring for the 2010 Census … [chart] …The June report, however, will reflect many of those workers being laid off in the past month. In May, 431,000 jobs were added, but without support from temporary government hires, economists are predicting job losses in June. Last week, consensus estimates were for a loss of 70,000 jobs for the month. By yesterday, those estimates were downgraded further, to 110,000. With the help of today’s ADP report, expectations have continued to fall: economists now expect a reading of negative 125,000 …

Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice summary of what the future may hold in its "Up and Down Wall Street." It summarizes as well as anything I've read recently where we're likely headed. Bugging the (stock) market is the increasingly obvious disparity between what the Street's incorrigible cheerleaders see and prophesy and what's actually happening in the real world...The double dip in housing may or may not be a template of what's in store for the economy as a whole. But at the very least, it is a precursor of other serious disappointments destined to feed the unease among the jittery populace, which most emphatically includes investors.

It cites the predictions of SDK Captial's Dee Kessler:

--the massive fiscal and monetary stimulus so liberally applied in 2008-2009 is starting to run out of steam, with financial conditions tightening and leading economic indicators pointing to a stretch of "anemic activity."

--"structural headwinds," such as public and private deleveraging, higher taxes, greater regulation and trade tensions.

--the well-publicized woes of the European bloc, which accounts for 20% of the world's GDP, as further evidence that the global economy, as he puts it, is downshifting.

--The period of easy comparisons in corporate results, he says, is coming to a close,

--"Although the fundamentals in the U.S., Europe and Japan are worse," Dee spots plenty of downside in emerging markets and doesn't fancy the notion of decoupling.

--Come another financial crisis, "the only policy response left will be to print money." Which, of course, is what the gold bugs are counting on and why bullion has glistened so brightly.

That about sums up the outlook. The nice insight here is that anxiety over future economic malaise -- and the additional money printing that'll be done to mask it -- might be a bigger factor than current inflationary pressure behind the surge in gold prices.

In other words, for the deflation-believers: deflation today? Perhaps. But big-time inflation tomorrow.

Disclosure: No positions

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Stocks: Once More Up, Then the Big Down Smith -The ingredients for a classic head and shoulders topping pattern in the stock market are all present. That suggests one more rise and then a massive grinding move down to 2009 lows. Officially, of course, everything's peachy with the economy. Europe is fixed, China is booming, consumer confidence is rising, and we are encouraged to resume our borrow and spend ways as the economy will not "double-dip" into recession. The economy will not slide into another recession, we are reassured constantly, even though roughly 80% of Americans don't think we ever left the recessionary quicksand. Please see "Two Scoop Special": Double-Dip Recession Guaranteed (May 21, 2010) for more … Exactly what drivers are there for future gains in corporate profits? I can't think of any, short of Martians landing and going on a shopping spree with gold they manufacture in their spacecraft. On the negative side, we have:

1. The rising dollar is a huge headwind to sales in the eurozone and elsewhere.
2. The low-hanging fruit of pushing the workforce to produce more output for the same salary/wages have all been picked.
3. The inventory build-out is done for everything but the iPhone 4 and iPad.
4. So-called "fiscal austerity" (when did living within one's means become some sort of brutual "austerity"? Talk abour propaganda!) in the eurozone and U.S. states will remove tens of billions of dollars from corporate sales.
5. Global overcapacity is alive and well. There is overcapacity in everything manufactured except the iPhone 4, and that will be in glut by 2011 as well.
6. Uncle Sam is not distributing trillions of dollars quite as freely. There seems to be some glimmer of awareness that there could be consequences of squandering trillions of borrowed dollars on essentially worthless projects such as occupying Iraq, inflating the housing market by socializing the entire mortgage market, propping up Fannie Mae, Freddie Mac and FHA, etc.
7. Housing is rolling over now that the socialized mortgage market has been tentatively allowed to go off life-support (it is wheezing and turning blue in the face, not signs of vibrant health).
8. There is no pricing power anywhere once stimulus-goosed demand declines to organic demand (flat to down) …

Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no matter what the scenario posited, this time the territory’s uncharted, and the debacle / crisis like no other owing to the advent of computerization will have enabled an obfuscating tool of unprecedented proportion [worthless paper, huge frauds as already extant], and a two-edged sword in the most negative sense prospectively)

GREECE UNDER NEWS BLACKOUT: Here’s How An Eyewitness Describes Today’s Riots There are reports this morning of violent protests/riots in Greece, once again. Here’s how a source on the ground describes the situation.     Target Tehran? Israel, US ‘prepare to attack Iran’ Reports are circulating that the U.S is amassing a greater military presence in the Middle East. The alleged build up is also rumoured to involve the Israeli use of Saudi Arabian air space. It’s thought by some to be in preparation for an attack on Iran.     Kucinich: ‘We are losing our nation to lies about the necessity of war’ In Afghanistan, corruption is rife. It is so abundant, in fact, that a senior US lawmaker declared on Monday that she’d be freezing $3.9 billion in Afghan aid dollars until the situation is addressed.     Turkey bans Israeli military flight from its airspace as freeze deepens Turkey has banned an Israeli military flight from its airspace in apparent retaliation for Israel’s interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed.

Iran nuclear scientist Shahram Amiri 'flees US captors' BBC News - A man who says he is an Iranian nuclear scientist claims to have escaped after being abducted by US agents. In a video shown on Iranian state TV, he says he has escaped in the US state of Virginia and is now on the run.    Missing Iran scientist says he escaped US agents: report Reuters    Turkey Asks Iran to Return to Table Wall Street Journal

Momentum Book Update: The Market Is a Mess and the Long Bond Is About to Break Out … Not only do us swing traders have to fight the urge to chase price action up, but lay off the keyboard trying to catch falling knives in the relative strength stocks which are holding up. If you tried to buy support in your favorite names this week, you got your hands cut up. I’ll continue to rely on the understanding of my own emotions as they have served me well. When we opened higher on Monday morning I knew I was in the right place, cash, as the market was just way overbought. If you bought most relative strength names last week, by the end of this week you were well underwater. So where do we go from here? I’ve got no clue, the market is a mess, the charts are a mess, and the long bond is about to break out. If that happens all bets are off, we could see an “event”. If the smart money is lining up at the exits and moving into bonds, there’s a good chance they see something coming down the pipe …

SUITING UP FOR A POST-DOLLAR WORLD John Browne ‘The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie's choice between social unrest and bankruptcy. But with the "Club Med" economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Our argument has always been that the US benefits from its reserve-currency status, allowing it to accumulate unsustainable debts for an unusually long period without the immediate repercussions of inflation or higher borrowing costs. But this false sense of security may be setting us up for a truly monumental crash. There is fresh evidence that time is running out for the dollar-centric global monetary order. In fact, central banks outside the US are already making swift and discrete preparation for a post-dollar era.To begin, the People's Bank of China has just this week decided to permit a wider trading range between the yuan and the dollar. This is the first step toward ending the infernal yuan-dollar peg. While the impetus behind this abrupt change remains a mystery, I have a sneaking suspicion that, as my colleague Neeraj Chaudhary explained in his commentary last week, the nationwide labor strikes were a prime motivator. In response to the 2008 credit crunch, the Fed printed so many dollars that the People's Bank of China was forced to drive Chinese inflation into double digits to maintain the peg. The pain has fallen on China's workers, who have seen their wages stagnate while prices for everything from milk to apartments have skyrocketed. This week's move indicates that, regardless of its own policy motives, the Communist Party can no longer afford to keep pace with the dollar's devaluation. The result will be a shift in wealth from America to China, which may trigger a long-anticipated run on the dollar, while creating investment opportunities in China. Just days before China's announcement, Russian President Dmitry Medvedev rattled his monetary sabre by telling the press of his intention to lead the world toward a new monetary order based on a broad basket of currencies. Giving strength to his claim, the Central Bank of Russia announced that it would be adding Canadian and Australian dollars to its reserves for the first time. Analysts suggest that the IMF may follow suit. While Russia floats in the limbo between hopeless kleptocracy and emerging economy, it does possess vast natural resources and a toe-hold in both Europe and Asia. In other words, it will be a strategically important partner for China as it tries to cast off dollar hegemony. Speaking of Europe, the major powers there are moving toward a post-dollar world by rejecting President Obama's calls to jump on America's debt grenade. The prescriptions coming from Washington translate loosely to: our airship is on fire, so why don't you light a candle under yours so that we may crash and burn together. Given that dollar strength is largely seen as a function of euro weakness (as Andrew Schiff discussed in our most recent newsletter, debt troubles in the eurozone's fringe economies have created a distorted confidence in the greenback. However, as you might imagine, Europe has higher priorities than being America's fall guy. Led by an ever-bolder Germany, the European states are wisely choosing not to throw themselves on our funeral pyre, but to wisely clean house in anticipation of China's rise. In another ominous sign for the dollar, the Financial Times reported Wednesday that after two decades as net sellers of gold, foreign central banks have now become net buyers. What's more, more than half of central bank officials surveyed by UBS didn't think the dollar would be the world's reserve in 2035. Among the predicted replacements were Asian currencies and the euro, but - by far - the favorite was gold. This is supported by Monday's revelation by the Saudi central bank that it had covertly doubled its gold reserves, just about a year after China made a similar admission. There is no reason to assume these are isolated incidents, or that the covert trade of dollars for gold doesn't continue. To the contrary, this is compelling evidence that foreign governments are outwardly supporting the status quo while quietly preparing for the dollar's almost-inevitable devaluation. What people like Paul Krugman believe to be a return to medieval economics may, in fact, be the wave of the future. In peacetime, hardened troops will likely tolerate a blowhard general for an extended period; but when the artillery opens up with live ordnance, an ineffectual leader risks rapid demotion. The newspapers are now riddled with hints that foreign governments have lost faith in Washington and the dollar reserve system. It seems to me only natural that after a century of war, inflation, and socialism, the next hundred years would belong to those people who hold the timeless values of hard money and fiscal prudence. Unfortunately, our policymakers are not those people.’

China's Hu Jintao Says Group of 20 Must Coordinate to Consolidate Recovery Bloomberg … How about the G195 countries in the world collectively be considered in this task of coordination owing to the abject failure of the so-called G20 which have in lockstep coordination precipitated this global crisis including the war mongering, war criminal acts of the so-called nato allies et als, particularly the u.s., and as well the likes of war criminal nation israel which have never avoided a contra-indicated, anti-recovery war / conflict they could contrive / rationalize. The so-called G7, 8, 9, 20, etc., are a pathetic bunch of incompetent vegetables / jokers / showmen / clowns.

One of those … Daaaaah! Moments … Panetta says Afghan progress slower than expected Los Angeles Times - Days after President Obama installed a new US military commander in Afghanistan, CIA Director Leon E. Panetta conceded Sunday that progress in the war has been "harder" and "slower than I think ...     Panetta says Afghan insurgents show no real interest in reconciliation talks Washington Post     CIA Retains Controversial Security Firm in Afghanistan Wall Street Journal       `CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ...`

New York Times reporter calls Zionist terrorism ‘romantic’ A little-noticed comment in a New York Times interview with Israeli opposition leader Tzipi Livni has critics arguing that it shows the media has a “double standard” when it comes to terrorism.

States of Crisis for 46 Governments Facing Greek-Style Deficits Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate.       Evans-Pritchard Announces Fed Contemplating $5 Trillion QE Expansion In his latest column, the Daily Telegraph’s A. Evans-Pritchard does a good job of recapping all the various reasons why Bernanke has now completely cornered himself, and facing a newly collapsing economy, is left with just one recourse: the printing of more, more, more paper.        History Tells US The Euro Will Not Survive, Greece Will Get Worse, And There Will Be A Trade Shock With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that today’s entry would be all about the RMB and the effect of the PBoC announcement.

The following is really the quintessential question and issue, particularly in light of america’s defacto bankruptcy and international law; but paramount humanitarian concerns alone would militate against america’s current misguided course.   Is Petraeus McChrystal’s Replacement or Obama’s? Paul Craig Roberts | All of this drama is playing out despite the continuing lack of any valid reason for the american invasions of Iraq and Afghanistan.

Obama Can Shut Down Internet For 4 Months Under New Emergency Powers President Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was approved by a key Senate committee yesterday    Congressman Rohrabacher: Almost All House Republicans Think Iraq War Illegal, Immoral Andrew Napolitano’s new Saturday show on the Fox Business Network is set to send shock waves through the political establishment this weekend when his guest – Republican Congressman Dana Rohrabacher – reveals that almost all House Republicans now believe that the invasion of Iraq was not only a mistake, but also illegal and immoral.         New Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms The government would have broad new powers to seize and wind down large, failing financial firms and to oversee the $600 trillion derivatives market.       Israeli Leaders Sued in Belgium for War Crimes

U.N. confirms rise in violence in Afghanistan      Obama Can Shut Down Internet For 4 Months Under New Emergency Powers       Food & Depopulation: Scams and Solutions Cassandra Anderson | Beware of all NGOs and so-called “non-profit” organizations.      Congress Votes to Impose Embargo On Iran Infowars.com | Congress believes more punitive measures are required in order to punish the Islamic state.       G20: Activists Arrested, Denied Entry into Canada Kurt Nimmo | Charlie Veitch of The Love Police arrested, Luke Rudkowski and fellow activists denied entry in New York.

Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister Ehud Barak were among those charged with war crimes committed during the Gaza war in the winter of 2008-09, the French daily Le Monde reported.       Congress OKs sanctions on Iran’s energy, banks Congress on Thursday approved tough new unilateral sanctions aimed at squeezing Iran’s energy and banking sectors, which could also hurt companies from other countries doing business with Tehran.

Cybersecurity Measures Will Mandate Government “ID Tokens” To Use The Internet The move to shut down and regulate the Internet, the only source of uncensored news and truth, under a new government-controlled system has accelerated into high gear with the announcement that the government’s cybersecurity strategy revolves around issuing Internet users with ID “tokens” without which they will not be able to visit websites, the latest salvo against web freedom which, in combination with Senator Joe Lieberman’s ‘kill switch’ bill, will serve to eviscerate the free Internet as we know it.

Turkey, the World Leader of Nations, bans israeli military flight from its airspace as freeze deepens The Guardian -Turkey has banned an israeli military flight from its airspace in apparent retaliation for Israel's interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed. Turkey restricts israeli use of airspace CNN International Turkey bars israeli planes ABC Online    netanayahu rules out apology to Turkey over deadly raid (AFP)

G-8 ‘fully believes’ Israel will attack Iran, says Italy PM Haaretz | World leaders “believe absolutely” that Israel may decide to take military action against Iran.     Britain will not defeat Taliban and should open talks, says head of Army London Telegraph | Britain and its allies will not defeat the Taliban with military force and should soon open peace talks with insurgents in Afghanistan, the head of the Army said yesterday.

3 SIGNS OF A SUCKER RALLY Simon Maierhofer ‘ … AFTER EXAMINING TECHNICAL EVIDENCE, SENTIMENT INDICATORS AND VARIOUS VALUATION METRICS, IT BECOMES OBVIOUS THAT THE RECENT BOUNCE PROVIDES A SELLING, NOT BUYING OPPORTUNITY ...’

Russell: This Is One Of The Largest Tops In Stock Market History Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. Pragmatic Capitalism June 24, 2010 Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. He has maintained that the bear market never ended and that the world is far too indebted to exit the bear market. He also believes the bear will not end until all fiat currencies have failed. Although I disagree with him on many aspects of the micro I agree with his larger macro outlook. This bear market is not over. The secular bear market lives on. Mr. Russell thinks we might be on the verge of a terrible collapse:
   “We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse.
Question: “What could possibly be behind such a bear market?” you ask. “The stock market is stirring up optimism on a weekly, if not daily basis, by not falling apart.”
Answer: This is the “rest” or “dead zone” I was talking about. Bear markets don’t conclude in a day, a week or a month. Months will go by, often adding to the bulls’ optimism.I think the key element behind this great bear market will be the complete destruction of all fiat currencies. This has been a long time coming. Fiat currencies are “wealth” created by man. They are created without sacrifice, without labor, without risk, and without sweat. Basically they are an immoral device, created by secretive bankers. If you watch the figures carefully, you’ll note the subtle deterioration. For instance, the advance-decline ratio, although up slightly for the week, had a relatively weak performance with the Dow up several hundred points over the course of the week. And we broke the trendline in May (see the chart below showing the cumulative advance-decline line for NYSE Common Stock only, which is what we publish in our figures (courtesy of DecisionPoint — www.decisionpoint.com). The vertical lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on the chart. [CHART] My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’

Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz Sheva | The Israeli Air Force recently unloaded military equipment at a Saudi Arabia base, a semi-official Iranian news agency claimed Wednesday.      It’s time for the world to take a close look at the despotic, totalitarian regime that presently exists for the grandeur and wealth of a few while hiding behind Islam as they betray same and Muslims everywhere. The time has come for regime change in Saudi Arabia to yield a nation of and for the people of Saudi Arabia and the glory of Islam.

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental or just coincidental but consistent with that similarly experienced by critics of corrupt defacto bankrupt america of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.]

7-1-10

The following is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far:

‘The Obama Deception’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1 – well worth the view.

While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1   ‘The Obama Deception’ – well worth the view.

Falling Dollar, Falling Crude, Falling Gold...Falling Equities Drogen ‘…Correlations got crushed yesterday morning, which I believe is why we saw the sell off in equities. Gold is getting smacked back down below the 50 day moving average along with the US Dollar index. Crude is getting eviscerated for more than 4% breaking down out of its big bear flag. The economic numbers were awful again, and they will continue to get worse. The liquidity fueled bounce in global assets is obviously over and we are seeing longer term holders exit now. The question I will ask though, why did the dollar fall yesterday on the news while the long bond surged and equities and energy dropped? The answer I believe is that the economic data is getting so bad that traders are starting to think Ben Bernanke may get back up in his helicopter and start raining liquidity on this market again. The government is afraid to hell that their reflation game is over. Maybe we get stimulus 2.0, not that the first one did anything significant. Our government is panicking and they really don’t have any good options. Europe isn’t doing them any help by leaving the reflation team for the austerity squad. Going even further, Bernanke doesn’t have a playbook for this part of the game. He knew exactly what he needed to do at the bottom in 08-09 based on his study of the Great Depression, but there is no good model to guide him on what to do after the reflation has taken place. In my mind, he can either start printing a crazy amount of money again and hyper inflate away the debt, or we are headed for a long period of deflation a la Japan, the more likely scenario. So why is the dollar falling? Well I think yesterday some people may have gotten it in their mind that Bernanke and Obama may start up the printing presses again. What doesn’t jive though, is the fact that crude has not bounced. The real state of the economy, and the global economy for that matter, is getting worse quickly…’

Incredible Stock Market Performance: Dave's Daily ‘It is an incredible performance Mr. Market has put on this week and there's still the grand finale with Friday's employment report…There isn't a shred of good news to be found unless you like low mortgage rates. This week's economic data and news releases have been dreadful overall and Thursday was no exception. Pending Home Sales fell off a cliff and Jobless Claims were worse than expected as well …’

Economic Data Round-Up The Pragmatic Capitalist ‘No comments necessary here. The end of government stimulus is revealing a very very weak private sector. It’s almost unbelievable how weak this data is considering where we are from the trough in economic output (via Trade The News):

·         (US) Jun Challenger Job Cuts Y/Y: 39.4K v 38.8K prior; -47.1% v -65.1% prior

·         (US) Initial Jobless Claims: 472K v 455Ke; Continuing Claims: 4.616M v 4.550Me

·         10:00 (US) Jun ISM Manufacturing: 56.2 v 59.0e; Prices paid: 57.0 v 70.0e

·         10:00 (US) May Construction Spending M/M: -0.2% v -0.8%e

·         10:00 (US) May Pending Home Sales M/M: -30.5%% v -14.2%e; Y/Y: -15.6%% v 24.6% prior

·         (US) EIA Natural Gas Inventories: +60 bcf v +60 to +70 bcf estimate range

Typical Pause In the Recovery? Maybe for Senile Greenspun The Inflation Trader ‘…That stocks are declining isn’t that surprising, in a sense; they were discounting robust growth and there were many ways reality could fall short of that expectation. It didn’t actually require a catalyst, merely gravity. However, there have in fact been catalysts, and the tea leaves have been surprisingly easy to read (so much so that even Wall Street economists are now actually lowering their growth forecasts although those forecasts still appear rosy in my view). Wednesday’s ADP was near consensus, but a shade weak. In the current environment, given what was expected, “a shade weak” is going to draw more reaction than “a touch strong,” although economically speaking the actual ADP was well within the error bar of the forecast – that is, we can’t really discern whether the underlying trend is weakening or not from that data. But the misses are all starting to add up on the same side. The ECB saw €442bln mature in the 12-month facility, but lent €161bln in 3-month, €198bln in 1-week, and €**136bln in 6-day money; in other words, there was net additional borrowing after the “withdrawal” of the 1y lending. Hmmm. Yesterday, Initial Claims came out above expectations at 472k, continuing to bounce around in the range while economists keep forecasting a breakout improvement. ISM Manufacturing was 3 points below expectations, a pretty big miss in that number, and Pending Home Sales were off 30%. Some of this was expected – the expiration of the home buyer credit should of course lead to fewer homes being bought – but again, the misses are all on the same side. To be sure, ISM at 56.2 is still at levels indicating expansion, but vehicle sales were a weak 11.08mm units in June…again on the weak side. I guess I would say there isn’t one catalyst, but the data and events are collectively catalytic … Yesterday, former Chairman Greenspan was on CNBC. This guy must have the greatest PR machine in the world. His forecasts have been among the world’s worst, even when he was actually controlling the policy levers that affected the outcomes. And yet, he still gets on CNBC and in the papers with regularity. It’s astonishing. Yesterday he shared the brilliant insight that this is just a “typical pause” in the recovery due to a “short-term fear factor” that keeps employers from hiring. Seriously, in what way has anything about the last few years been “typical”?

NARROWLY LOWER CLOSE EXTENDS DOW LOSING STREAK** Midnight Trader 4:28 PM, Jul 1, 2010 --

NYSE down 7 (-0.1%) to 6,462

DJIA down 41 (-0.4%) to 9,733

S&P 500 down 3 (-0.3%) to 1,027

Nasdaq down 8 (-0.4%) to 2,101

GLOBAL SENTIMENT

Hang Seng down 0.59%

Nikkei down 2.04%

FTSE down 2.26%

UPSIDE MOVERS

(+) BP report says company secures short-term financing.

(+) ARNA says Eisai to market company's Lorcaserin following FDA approval.

(+) DELL upgraded.

(+) FDX upgraded.

(+) UPS upgraded.

(+) ISLE postpones stock offering.

(+) C says Treasury sells more shares.

DOWNSIDE MOVERS

(-) DNDN continues evening drop

(-) TASR guides for revenue miss.

(-) SNSS continues evening decline after announcing private placement.

(-) HD slips despite upgrade.

(-) LOW slips despite upgrade.

MARKET DIRECTION

Stocks end modestly lower, dropping 0.3%-0.4% and well off earlier lows ahead of Friday's jobs report. Still, the decline is enough to stretch the Dow's losing streak to six sessions. Oil and the dollar are lower, while Treasury yields edged off the record lows hit earlier this week.

Crude closes below $73 a barrel on global growth worries. Gold fell $39.20 to finish at $1,206.70 an ounce.

A trio of economic reports largely disappointed Wall Street though packed few surprises.

The Labor Department said initial claims for jobless benefits climbed 13,000 last week to 472,000. Economists had expected claims to fall.

The National Association of Realtors said its measure of pending home sales declined to a new low in May after a flurry of buying to take advantage of a tax credit that expired at the end of April.

Finally, the Institute for Supply Management reported its manufacturing index declined in June, though the industry trade group said the sector seemed to still be expanding.

For Friday's early report, economists polled by Thomson Reuters forecast that private employers added 112,000 jobs last month. That would be far above the 41,000 added in May. The overall unemployment rate is expected to rise to 9.8 percent from 9.7 percent in May.

In company news:

Shares of Bank of America (BAC) fell after the company said its First Republic Bank had completed a management buyout, according to Reuters. The purchase was reportedly completed with $1.86 billion in new equity from Colony and General Atlantic, the report said.

Popular (BPOP) says it has entered into an agreement and a plan of merger that contemplates funds managed by Apollo Management, L.P. acquiring a 51% interest in BPOP's processing subsidiary, EVERTEC, and related processing businesses, through the establishment of a joint venture. The new joint venture is valued at approximately $900 million.

Apple Inc. (AAPL) is the target of a lawsuit over reception problems with its new iPhone 4, Bloomberg reported. A Massachusetts resident and New Jersey resident who bought the mobile phone filed complaints in federal court in San Francisco, the report said, alleging unfair business practices and false and misleading advertising. Another complaint was filed in Maryland alleging Apple and wireless carrier AT&T Inc. (T) were negligent in marketing the phone, the report said.

McDonald's (MCD) reportedly plans to rework its menu, according to a Reuters report. In the move, McDonald's is slated to retire the Big 'N' Tasty sandwich and add oatmeal to its national product selection, reported Reuters, citing Crains Chicago Business. The company also expects to discontinue its fruit and walnut salad.

Taser International Inc (TASR) declined after the company said it anticipates that second quarter earnings will fall short of expectations. The stun-gun maker sees sales in the second quarter reaching $18.5 million, while analysts polled by FactSet Research had expected sales to reach $25.6 million. The sales slump is seen as a result of sluggish sales overseas, and less funding for law enforcement units in the United States.

Commodities were broadly lower while gold for August delivery is down 2.03% to $1,220 an ounce and crude oil for August delivery is down 3.87% to $72.67.

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Fed Made Taxpayers Unwitting Junk-Bond Buyers Bloomberg | So-called assets included collateralized debt obligations and mortgage-backed bonds.     Dollar Plunges After UN Call To Ditch Greenback The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).       National debt soars to highest level since WWII The federal debt will represent 62% of the nation’s economy by the end of this year.      Dollar should be replaced as international standard, U.N. report says CNN | The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said.

Double Dip Picking Up: Jobless Claims Spike To 472,000, On Expectations Of 455,000 Jobless claims were a disaster, coming in at 472k, on expectations of 455k. Prior was revised, surprise, surprise, higher to 459k from 457k. What is scariest is that between extended benefits and EUC, now that Congress has turned off the perpetual insurance spigot for the unemployed, dropped by -158,155 and -217,513.     Shell-Shocked Americans Still Aren’t Buying Anything Despite a small rebound from crisis-lows, this long-term chart from Deutsche Bank keeps the rebound in perspective.      Mortgage Horror Stories: The U.S. Housing Industry Will Never Recover in Back about five or six years ago, when the housing bubble was still rising, just about anyone could get a mortgage. Lending institutions were handing out ridiculously bloated home loans to almost anyone who breathed.       Gerald Celente: Doom of Currencies! A United Nations report has slammed the American dollar, deeming it an unreliable reserve currency in need of replacement. The UN recommends using a mixed bag of currencies from developed nations.      Struggling and Faltering to Manage Economic Recovery No Austerity, full steam ahead, Faltering markets, threats to social stability, Europe struggling with PIIGS, No end in California, economic disasters in the making, an oil soaked letter in Louisiana, consumer spending is uninspiring.

‘Jobless Recovery’ Myth as Banksters RAPE and ENSLAVE the Public! GET OFF YOUR KNEES! We’re told that this will be a ‘jobless recovery’ with further job losses expected before things get better. Well, if you believe that nonsense I’ve got a fantastic sundrenched beach on the growing ice packs of Antarctica to sell you. How on earth can there be anything called a jobless recovery? The simple answer is that there can’t!      Study: US media redefined torture after US started practicing it The US news media radically changed how it reported on the issue of waterboarding after it emerged that US forces had used the practice, says a new study from Harvard University.      The Toronto G20 Riot Fraud: Undercover Police engaged in Purposeful Provocation Toronto is right now in the midst of a massive government / media propaganda fraud. As events unfold, it is becoming increasingly clear that the ‘Black Bloc’ are undercover police operatives engaged in purposeful provocations to eclipse and invalidate legitimate G20 citizen protest by starting a riot. Government agents have been caught doing this before in Canada.

Wow! Sounds like a plan … riiiiight! Obama Calls for Pentagon “Civilian Component” Kurt Nimmo | Obama wants to send civilians to the occupation zones in Iraq and Afghanistan.

Dollar Plunges After UN Call To Ditch Greenback The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).     European Court Of Human Rights Rules Police Terror Stops Illegal The European Court Of Human Rights has officially ruled police “stop and search” powers, under UK Terrorism laws, illegal for the second time, rejecting a government appeal.      Toronto Police Chief Lies Again To Frame Protesters Toronto Police Chief Bill Blair has been caught lying again in an effort to justify the brutal police response metered out against G20 protesters and journalists this past weekend, after it emerged that weapons he presented to the media as evidence of criminals planning to wreak havoc on the city were in fact toys seized from a man who was on his way to a fantasy role-playing game and had nothing to do with the G20 summit.      Amnesty International Calls For Public Inquiry Into G20 Policing Open Letter to Prime Minister Harper & Premier McGuinty calling for G8/G20 Summit Security Review.

Drudgereport: `New jobless claims rise [again]...`
`'Surprise'...`
`Pending home sales plunge record 30%...`

`Weak economic data suggest 'recovery' fizzling...`
`Fears mount over slowing global demand...`

`UN committee calls for dumping US dollar...`

`Six Months to Go Until the Largest Tax Hikes in History...`

SIX MONTHS TO GO UNTIL
THE LARGEST TAX HIKES IN HISTORY

From Ryan Ellis on Thursday, July 1, 2010 4:15 PM

Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVN5aBH3

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.

The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

Second Wave: Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:

The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

The “Special Needs Kids Tax” This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.

The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include:

The AMT will ensnare over 28 million families, up from 4 million last year. According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.

Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.”

Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. The biggest is the loss of the “research and experimentation tax credit,” but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.

Tax Benefits for Education and Teaching Reduced. The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families.

Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual “required minimum distribution.” This ability will no longer be there.

Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVMwYIhK

Investors get more gloomy & bearish We just had a very difficult three month stretch for stocks. The S&P 500 fell 12% for the quarter as did NASDAQ. The Shanghai Composite, China’s largest stock index, fell 22.9 in its local currency, the yuan. The MSCI EAFE Index (foreign stocks) was down 14%. Given the negative news, it is not surprising that investors are becoming more bearish on stocks. This chart from Bespoke is based on the weekly Investors Intelligence survey, which is getting close to levels from a year ago. This is not close the peak we reached in early 2009, but the mood is definitely more negative now: [chart]

Double Dip on the Way There were many events contributing to yesterday’s sell-off, and the most likely culprits around the globe included more protests in Greece, continued to concerns about Europe at large, and a downward revision (due to a calculation error) of a leading economic indicator reading in China for the month of April. But when it comes down to it, our own economy has yet to stand on solid ground. While the recovery has continued to be shaky at best, recent economic readings may be pointing to a double dip recession. Yesterday’s batch of economic data seemed to be confirming that, as it brought a very dismal reading on consumer confidence. June’s number stood at 52.9, far below expectations of 62.5, and pointing to the consumers’ weariness about the job market, and economic recovery in general. To go further, the previous reading for May was revised downward, to 62.7 from 63.3. But the drop from May to June really sends the message home: we’re not out of the woods yet. Earlier in the week, we saw personal savings rates rise again, even while personal income growth was meager. Americans, despite bringing home a little more cash, continued to save more for the expected rainy days, and have yet to return to their spendthrift ways. After yesterday’s precipitous selling, one would expect to see a bit of a bounce in today’s trading session. That wasn’t the case, however, as more weak data continued to dampen economic hopes. Today’s culprit was the ADP private sector job report. The report stated that private payroll gains were muted in June, with only 13,000 jobs added – far less than the 60,000 expected by economists. While May’s reading was revised slightly upwards (to 57,000 hires from previously reported 55,000), today’s release does not bode well for the much anticipated report from the Bureau of Labor Statistics due out on Friday. The non-farms payroll survey includes government workers and has been inflated in recent months due to hiring for the 2010 Census … [chart] …The June report, however, will reflect many of those workers being laid off in the past month. In May, 431,000 jobs were added, but without support from temporary government hires, economists are predicting job losses in June. Last week, consensus estimates were for a loss of 70,000 jobs for the month. By yesterday, those estimates were downgraded further, to 110,000. With the help of today’s ADP report, expectations have continued to fall: economists now expect a reading of negative 125,000 …

Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice summary of what the future may hold in its "Up and Down Wall Street." It summarizes as well as anything I've read recently where we're likely headed. Bugging the (stock) market is the increasingly obvious disparity between what the Street's incorrigible cheerleaders see and prophesy and what's actually happening in the real world...The double dip in housing may or may not be a template of what's in store for the economy as a whole. But at the very least, it is a precursor of other serious disappointments destined to feed the unease among the jittery populace, which most emphatically includes investors.

It cites the predictions of SDK Captial's Dee Kessler:

--the massive fiscal and monetary stimulus so liberally applied in 2008-2009 is starting to run out of steam, with financial conditions tightening and leading economic indicators pointing to a stretch of "anemic activity."

--"structural headwinds," such as public and private deleveraging, higher taxes, greater regulation and trade tensions.

--the well-publicized woes of the European bloc, which accounts for 20% of the world's GDP, as further evidence that the global economy, as he puts it, is downshifting.

--The period of easy comparisons in corporate results, he says, is coming to a close,

--"Although the fundamentals in the U.S., Europe and Japan are worse," Dee spots plenty of downside in emerging markets and doesn't fancy the notion of decoupling.

--Come another financial crisis, "the only policy response left will be to print money." Which, of course, is what the gold bugs are counting on and why bullion has glistened so brightly.

That about sums up the outlook. The nice insight here is that anxiety over future economic malaise -- and the additional money printing that'll be done to mask it -- might be a bigger factor than current inflationary pressure behind the surge in gold prices.

In other words, for the deflation-believers: deflation today? Perhaps. But big-time inflation tomorrow.

Disclosure: No positions

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Stocks: Once More Up, Then the Big Down Smith -The ingredients for a classic head and shoulders topping pattern in the stock market are all present. That suggests one more rise and then a massive grinding move down to 2009 lows. Officially, of course, everything's peachy with the economy. Europe is fixed, China is booming, consumer confidence is rising, and we are encouraged to resume our borrow and spend ways as the economy will not "double-dip" into recession. The economy will not slide into another recession, we are reassured constantly, even though roughly 80% of Americans don't think we ever left the recessionary quicksand. Please see "Two Scoop Special": Double-Dip Recession Guaranteed (May 21, 2010) for more … Exactly what drivers are there for future gains in corporate profits? I can't think of any, short of Martians landing and going on a shopping spree with gold they manufacture in their spacecraft. On the negative side, we have:

1. The rising dollar is a huge headwind to sales in the eurozone and elsewhere.
2. The low-hanging fruit of pushing the workforce to produce more output for the same salary/wages have all been picked.
3. The inventory build-out is done for everything but the iPhone 4 and iPad.
4. So-called "fiscal austerity" (when did living within one's means become some sort of brutual "austerity"? Talk abour propaganda!) in the eurozone and U.S. states will remove tens of billions of dollars from corporate sales.
5. Global overcapacity is alive and well. There is overcapacity in everything manufactured except the iPhone 4, and that will be in glut by 2011 as well.
6. Uncle Sam is not distributing trillions of dollars quite as freely. There seems to be some glimmer of awareness that there could be consequences of squandering trillions of borrowed dollars on essentially worthless projects such as occupying Iraq, inflating the housing market by socializing the entire mortgage market, propping up Fannie Mae, Freddie Mac and FHA, etc.
7. Housing is rolling over now that the socialized mortgage market has been tentatively allowed to go off life-support (it is wheezing and turning blue in the face, not signs of vibrant health).
8. There is no pricing power anywhere once stimulus-goosed demand declines to organic demand (flat to down) …

Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no matter what the scenario posited, this time the territory’s uncharted, and the debacle / crisis like no other owing to the advent of computerization will have enabled an obfuscating tool of unprecedented proportion [worthless paper, huge frauds as already extant], and a two-edged sword in the most negative sense prospectively)

GREECE UNDER NEWS BLACKOUT: Here’s How An Eyewitness Describes Today’s Riots There are reports this morning of violent protests/riots in Greece, once again. Here’s how a source on the ground describes the situation.     Target Tehran? Israel, US ‘prepare to attack Iran’ Reports are circulating that the U.S is amassing a greater military presence in the Middle East. The alleged build up is also rumoured to involve the Israeli use of Saudi Arabian air space. It’s thought by some to be in preparation for an attack on Iran.     Kucinich: ‘We are losing our nation to lies about the necessity of war’ In Afghanistan, corruption is rife. It is so abundant, in fact, that a senior US lawmaker declared on Monday that she’d be freezing $3.9 billion in Afghan aid dollars until the situation is addressed.     Turkey bans Israeli military flight from its airspace as freeze deepens Turkey has banned an Israeli military flight from its airspace in apparent retaliation for Israel’s interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed.

Iran nuclear scientist Shahram Amiri 'flees US captors' BBC News - A man who says he is an Iranian nuclear scientist claims to have escaped after being abducted by US agents. In a video shown on Iranian state TV, he says he has escaped in the US state of Virginia and is now on the run.    Missing Iran scientist says he escaped US agents: report Reuters    Turkey Asks Iran to Return to Table Wall Street Journal

Momentum Book Update: The Market Is a Mess and the Long Bond Is About to Break Out … Not only do us swing traders have to fight the urge to chase price action up, but lay off the keyboard trying to catch falling knives in the relative strength stocks which are holding up. If you tried to buy support in your favorite names this week, you got your hands cut up. I’ll continue to rely on the understanding of my own emotions as they have served me well. When we opened higher on Monday morning I knew I was in the right place, cash, as the market was just way overbought. If you bought most relative strength names last week, by the end of this week you were well underwater. So where do we go from here? I’ve got no clue, the market is a mess, the charts are a mess, and the long bond is about to break out. If that happens all bets are off, we could see an “event”. If the smart money is lining up at the exits and moving into bonds, there’s a good chance they see something coming down the pipe …

SUITING UP FOR A POST-DOLLAR WORLD John Browne ‘The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie's choice between social unrest and bankruptcy. But with the "Club Med" economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Our argument has always been that the US benefits from its reserve-currency status, allowing it to accumulate unsustainable debts for an unusually long period without the immediate repercussions of inflation or higher borrowing costs. But this false sense of security may be setting us up for a truly monumental crash. There is fresh evidence that time is running out for the dollar-centric global monetary order. In fact, central banks outside the US are already making swift and discrete preparation for a post-dollar era.To begin, the People's Bank of China has just this week decided to permit a wider trading range between the yuan and the dollar. This is the first step toward ending the infernal yuan-dollar peg. While the impetus behind this abrupt change remains a mystery, I have a sneaking suspicion that, as my colleague Neeraj Chaudhary explained in his commentary last week, the nationwide labor strikes were a prime motivator. In response to the 2008 credit crunch, the Fed printed so many dollars that the People's Bank of China was forced to drive Chinese inflation into double digits to maintain the peg. The pain has fallen on China's workers, who have seen their wages stagnate while prices for everything from milk to apartments have skyrocketed. This week's move indicates that, regardless of its own policy motives, the Communist Party can no longer afford to keep pace with the dollar's devaluation. The result will be a shift in wealth from America to China, which may trigger a long-anticipated run on the dollar, while creating investment opportunities in China. Just days before China's announcement, Russian President Dmitry Medvedev rattled his monetary sabre by telling the press of his intention to lead the world toward a new monetary order based on a broad basket of currencies. Giving strength to his claim, the Central Bank of Russia announced that it would be adding Canadian and Australian dollars to its reserves for the first time. Analysts suggest that the IMF may follow suit. While Russia floats in the limbo between hopeless kleptocracy and emerging economy, it does possess vast natural resources and a toe-hold in both Europe and Asia. In other words, it will be a strategically important partner for China as it tries to cast off dollar hegemony. Speaking of Europe, the major powers there are moving toward a post-dollar world by rejecting President Obama's calls to jump on America's debt grenade. The prescriptions coming from Washington translate loosely to: our airship is on fire, so why don't you light a candle under yours so that we may crash and burn together. Given that dollar strength is largely seen as a function of euro weakness (as Andrew Schiff discussed in our most recent newsletter, debt troubles in the eurozone's fringe economies have created a distorted confidence in the greenback. However, as you might imagine, Europe has higher priorities than being America's fall guy. Led by an ever-bolder Germany, the European states are wisely choosing not to throw themselves on our funeral pyre, but to wisely clean house in anticipation of China's rise. In another ominous sign for the dollar, the Financial Times reported Wednesday that after two decades as net sellers of gold, foreign central banks have now become net buyers. What's more, more than half of central bank officials surveyed by UBS didn't think the dollar would be the world's reserve in 2035. Among the predicted replacements were Asian currencies and the euro, but - by far - the favorite was gold. This is supported by Monday's revelation by the Saudi central bank that it had covertly doubled its gold reserves, just about a year after China made a similar admission. There is no reason to assume these are isolated incidents, or that the covert trade of dollars for gold doesn't continue. To the contrary, this is compelling evidence that foreign governments are outwardly supporting the status quo while quietly preparing for the dollar's almost-inevitable devaluation. What people like Paul Krugman believe to be a return to medieval economics may, in fact, be the wave of the future. In peacetime, hardened troops will likely tolerate a blowhard general for an extended period; but when the artillery opens up with live ordnance, an ineffectual leader risks rapid demotion. The newspapers are now riddled with hints that foreign governments have lost faith in Washington and the dollar reserve system. It seems to me only natural that after a century of war, inflation, and socialism, the next hundred years would belong to those people who hold the timeless values of hard money and fiscal prudence. Unfortunately, our policymakers are not those people.’

China's Hu Jintao Says Group of 20 Must Coordinate to Consolidate Recovery Bloomberg … How about the G195 countries in the world collectively be considered in this task of coordination owing to the abject failure of the so-called G20 which have in lockstep coordination precipitated this global crisis including the war mongering, war criminal acts of the so-called nato allies et als, particularly the u.s., and as well the likes of war criminal nation israel which have never avoided a contra-indicated, anti-recovery war / conflict they could contrive / rationalize. The so-called G7, 8, 9, 20, etc., are a pathetic bunch of incompetent vegetables / jokers / showmen / clowns.

One of those … Daaaaah! Moments … Panetta says Afghan progress slower than expected Los Angeles Times - Days after President Obama installed a new US military commander in Afghanistan, CIA Director Leon E. Panetta conceded Sunday that progress in the war has been "harder" and "slower than I think ...     Panetta says Afghan insurgents show no real interest in reconciliation talks Washington Post     CIA Retains Controversial Security Firm in Afghanistan Wall Street Journal       `CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ...`

New York Times reporter calls Zionist terrorism ‘romantic’ A little-noticed comment in a New York Times interview with Israeli opposition leader Tzipi Livni has critics arguing that it shows the media has a “double standard” when it comes to terrorism.

States of Crisis for 46 Governments Facing Greek-Style Deficits Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate.       Evans-Pritchard Announces Fed Contemplating $5 Trillion QE Expansion In his latest column, the Daily Telegraph’s A. Evans-Pritchard does a good job of recapping all the various reasons why Bernanke has now completely cornered himself, and facing a newly collapsing economy, is left with just one recourse: the printing of more, more, more paper.        History Tells US The Euro Will Not Survive, Greece Will Get Worse, And There Will Be A Trade Shock With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that today’s entry would be all about the RMB and the effect of the PBoC announcement.

The following is really the quintessential question and issue, particularly in light of america’s defacto bankruptcy and international law; but paramount humanitarian concerns alone would militate against america’s current misguided course.   Is Petraeus McChrystal’s Replacement or Obama’s? Paul Craig Roberts | All of this drama is playing out despite the continuing lack of any valid reason for the american invasions of Iraq and Afghanistan.

Obama Can Shut Down Internet For 4 Months Under New Emergency Powers President Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was approved by a key Senate committee yesterday    Congressman Rohrabacher: Almost All House Republicans Think Iraq War Illegal, Immoral Andrew Napolitano’s new Saturday show on the Fox Business Network is set to send shock waves through the political establishment this weekend when his guest – Republican Congressman Dana Rohrabacher – reveals that almost all House Republicans now believe that the invasion of Iraq was not only a mistake, but also illegal and immoral.         New Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms The government would have broad new powers to seize and wind down large, failing financial firms and to oversee the $600 trillion derivatives market.       Israeli Leaders Sued in Belgium for War Crimes

U.N. confirms rise in violence in Afghanistan      Obama Can Shut Down Internet For 4 Months Under New Emergency Powers       Food & Depopulation: Scams and Solutions Cassandra Anderson | Beware of all NGOs and so-called “non-profit” organizations.      Congress Votes to Impose Embargo On Iran Infowars.com | Congress believes more punitive measures are required in order to punish the Islamic state.       G20: Activists Arrested, Denied Entry into Canada Kurt Nimmo | Charlie Veitch of The Love Police arrested, Luke Rudkowski and fellow activists denied entry in New York.

Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister Ehud Barak were among those charged with war crimes committed during the Gaza war in the winter of 2008-09, the French daily Le Monde reported.       Congress OKs sanctions on Iran’s energy, banks Congress on Thursday approved tough new unilateral sanctions aimed at squeezing Iran’s energy and banking sectors, which could also hurt companies from other countries doing business with Tehran.

Cybersecurity Measures Will Mandate Government “ID Tokens” To Use The Internet The move to shut down and regulate the Internet, the only source of uncensored news and truth, under a new government-controlled system has accelerated into high gear with the announcement that the government’s cybersecurity strategy revolves around issuing Internet users with ID “tokens” without which they will not be able to visit websites, the latest salvo against web freedom which, in combination with Senator Joe Lieberman’s ‘kill switch’ bill, will serve to eviscerate the free Internet as we know it.

Turkey, the World Leader of Nations, bans israeli military flight from its airspace as freeze deepens The Guardian -Turkey has banned an israeli military flight from its airspace in apparent retaliation for Israel's interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed. Turkey restricts israeli use of airspace CNN International Turkey bars israeli planes ABC Online

6-30-10

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Double Dip on the Way There were many events contributing to yesterday’s sell-off, and the most likely culprits around the globe included more protests in Greece, continued to concerns about Europe at large, and a downward revision (due to a calculation error) of a leading economic indicator reading in China for the month of April. But when it comes down to it, our own economy has yet to stand on solid ground. While the recovery has continued to be shaky at best, recent economic readings may be pointing to a double dip recession. Yesterday’s batch of economic data seemed to be confirming that, as it brought a very dismal reading on consumer confidence. June’s number stood at 52.9, far below expectations of 62.5, and pointing to the consumers’ weariness about the job market, and economic recovery in general. To go further, the previous reading for May was revised downward, to 62.7 from 63.3. But the drop from May to June really sends the message home: we’re not out of the woods yet. Earlier in the week, we saw personal savings rates rise again, even while personal income growth was meager. Americans, despite bringing home a little more cash, continued to save more for the expected rainy days, and have yet to return to their spendthrift ways. After yesterday’s precipitous selling, one would expect to see a bit of a bounce in today’s trading session. That wasn’t the case, however, as more weak data continued to dampen economic hopes. Today’s culprit was the ADP private sector job report. The report stated that private payroll gains were muted in June, with only 13,000 jobs added – far less than the 60,000 expected by economists. While May’s reading was revised slightly upwards (to 57,000 hires from previously reported 55,000), today’s release does not bode well for the much anticipated report from the Bureau of Labor Statistics due out on Friday. The non-farms payroll survey includes government workers and has been inflated in recent months due to hiring for the 2010 Census … [chart] …The June report, however, will reflect many of those workers being laid off in the past month. In May, 431,000 jobs were added, but without support from temporary government hires, economists are predicting job losses in June. Last week, consensus estimates were for a loss of 70,000 jobs for the month. By yesterday, those estimates were downgraded further, to 110,000. With the help of today’s ADP report, expectations have continued to fall: economists now expect a reading of negative 125,000 …

YAHOO [BRIEFING.COM]: The stock market spent the session stuck in choppy trade with a modest gain before it rolled over in the final hour to log another loss -- its seventh in eight sessions. Stocks had dropped 3% in the prior session, but they attempted a modest rebound this time around. The financial sector initially showed leadership as bank stocks were boosted by news that the financial reform bill's language regarding some $19 billion in new fees and taxes was removed. Meanwhile, banks in Europe conveyed that recent liquidity concerns in the continent may be a bit overdone, given that a recent short-term debt issuance from European Central Bank was rather lightly subscribed. The financial sector was up more than 1% in the early going, but that would inevitably reverse into a 1.1% loss. Prior to a late downturn, the mood among market participants appeared to have improved since the prior session's selloff. Still, the improvement was restrained by a disappointing ADP Employment Change Report, which showed that private payrolls for June increased by a paltry 13,000 when an increase of 61,000 had been widely expected. That portends a dour monthly jobs report from the government at the end of the week. Restrained gains eventually gave way to another barrage of selling. In turn, all 10 major sectors settled in the red …

Investors get more gloomy & bearish We just had a very difficult three month stretch for stocks. The S&P 500 fell 12% for the quarter as did NASDAQ. The Shanghai Composite, China’s largest stock index, fell 22.9 in its local currency, the yuan. The MSCI EAFE Index (foreign stocks) was down 14%. Given the negative news, it is not surprising that investors are becoming more bearish on stocks. This chart from Bespoke is based on the weekly Investors Intelligence survey, which is getting close to levels from a year ago. This is not close the peak we reached in early 2009, but the mood is definitely more negative now: [chart]

Bottom Picking Not Allowed: Dave's Daily Bulls tried hard to get it together most of the day encouraged early by news from Europe the ECB facility to handle stressed bank demand saw less than expected. But strong headwinds showed up with a dreadful ADP report which came in at 13K new jobs vs the street consensus of 75K. Ouch! So after resting along the unchanged line most of the day, bulls threw in the towel late and stock indexes cascaded sharply lower in the last 40 minutes of trading. The critical support levels mentioned yesterday for Dow Theorists (9816) and oft suggested S&P 500 Index (1040) which both failed to hold. This may lead some to designate us in a bear market versus the White House theme "Summer of Recovery" …

Dollar should be replaced as international standard, U.N. report says CNN | The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said.      Banks Could Have Until 2022 to Comply to Reform Rules Bloomberg | Goldman Sachs Group Inc. and Citigroup Inc. are among U.S. banks that may have as long as a dozen years to cut stakes in in-house hedge funds and private- equity units under a regulatory revamp agreed to last week.

Financial reform bill passes House, 237-192 Los Angeles Times - Vote is split along partisan lines, with just three Republicans voting in favor and 19 Democrats against. The Senate is expected to take up the bill in mid-July.   House passes Wall Street regulations USA Today   House easily passes new financial regulations Washington Post

In U.S. Bailout of A.I.G., Forgiveness for Big Banks At the end of the American International Group’s annual meeting last month, a shareholder approached the microphone with a question for Robert Benmosche, the insurer’s chief executive.     Jobs Market Barely Budges in June as Hiring Stays Weak U.S. private employers added just 13,000 jobs in June, according to a report published Wednesday that suggested expectations of a big drop in the government’s upcoming nonfarm payrolls report were on target.     Banks Financing Mexico Gangs Admitted in Wells Fargo Deal Just before sunset on April 10, 2006, a DC-9 jet landed at the international airport in the port city of Ciudad del Carmen, 500 miles east of Mexico City. As soldiers on the ground approached the plane, the crew tried to shoo them away, saying there was a dangerous oil leak. So the troops grew suspicious and searched the jet.     25 Signs That Almost Everyone Is Expecting An Economic Collapse In 2010 At times like these, it is hardly going out on a limb to say that we are headed for hard economic times. In fact, it seems like almost everyone in the financial world is either declaring that a recession is coming or is busy preparing for one.

Will G20 Police Succeed In Covering Up Reports of Rape and Torture? Infowars.com | Can authorities be allowed to cover-up the Abu-Ghraib style incarceration methods Toronto police engaged in during the G20 summit this past weekend, where women were arrested and subsequently raped by male cops?      Real Tyranny: Was Canada ever the Country we thought it was? Make it Eight, eh? | Don’t sing Oh Canada on the streets in Canada, or the police, dressed in riot gear will surely get you. [canada, and canadiens generally, are vastly over-rated on every level; and, I’ve yet to encounter / experience even one that wasn’t a thief and / or mentally unstable. Then there’s the ‘how can you take them seriously’ factor, eh?]      U.S. GOV can kill ANYONE including YOU without trial COVERTLY Ladies and Gentleman, the U.S. Government has just declared war on the general public.      Cops Dressed As Anarchists At G20 In Toronto 5 undercover cops outed at G20 rally in Toronto, Friday, June 25. After this video, these 5 were chased out of the demonstration by people identifying them as undercover police.        Afghanistan: Enough is enough Osama bin Laden is presumably still on the loose, the one-eyed Taleban leader Mullah Omar is without doubt still riding around on his motorbike, the opium poppies have never bloomed as bright, corruption is rife, women are still being oppressed by fundamentalists and the country’s infrastructure still has not been rebuilt.      The Internet Must Remain Free The Internet is abuzz with news that a US Senate committee has approved a bill that apparently gives the President authority to shut down the Internet.

`Drudgereport: DEBT SOARS TO HIGHEST LEVEL SINCE WWII... PRIVATE SECTOR SEES WEAKER JUNE JOBS...`
`Sputtering...`
`Dow Loses 10% in Q2...`
`Fed Officials Express Caution on Outlook, Avoid Talk of Further Stimulus... THE KAGAN SHOW...   ...`  `SEE HER LAUGH, SEE HER CRYJustice Lawyer Accuses Holder of Dropping Black Panther Case -- for Racial Reasons...`

Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice summary of what the future may hold in its "Up and Down Wall Street." It summarizes as well as anything I've read recently where we're likely headed. Bugging the (stock) market is the increasingly obvious disparity between what the Street's incorrigible cheerleaders see and prophesy and what's actually happening in the real world...The double dip in housing may or may not be a template of what's in store for the economy as a whole. But at the very least, it is a precursor of other serious disappointments destined to feed the unease among the jittery populace, which most emphatically includes investors.

It cites the predictions of SDK Captial's Dee Kessler:

--the massive fiscal and monetary stimulus so liberally applied in 2008-2009 is starting to run out of steam, with financial conditions tightening and leading economic indicators pointing to a stretch of "anemic activity."

--"structural headwinds," such as public and private deleveraging, higher taxes, greater regulation and trade tensions.

--the well-publicized woes of the European bloc, which accounts for 20% of the world's GDP, as further evidence that the global economy, as he puts it, is downshifting.

--The period of easy comparisons in corporate results, he says, is coming to a close,

--"Although the fundamentals in the U.S., Europe and Japan are worse," Dee spots plenty of downside in emerging markets and doesn't fancy the notion of decoupling.

--Come another financial crisis, "the only policy response left will be to print money." Which, of course, is what the gold bugs are counting on and why bullion has glistened so brightly.

That about sums up the outlook. The nice insight here is that anxiety over future economic malaise -- and the additional money printing that'll be done to mask it -- might be a bigger factor than current inflationary pressure behind the surge in gold prices.

In other words, for the deflation-believers: deflation today? Perhaps. But big-time inflation tomorrow.

Disclosure: No positions

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8, WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling for the corrupt u.s. government as solicitor general, maybe he just wanted to go straight [Just Kidding!]. There is no immunity, judicial or otherwise for criminal acts. Moreover, there is no sovereign immunity for non-governmental acts as would include involvement in the illegal drug and related crimes, ie., bribery, etc., and the supreme court has so held against foreign nations in the context of the RICO statute but in my RICO case olson the liar would shill otherwise, not that he really had to worry in light of the pervasively corrupt and wastefully costly federal courts which should be abolished.

(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a criminal who should have served / should be serving time in prison for obstruction of justice, bribery, among other RICO violations. To alito, drug money is as green as corporate money and worth his vote as well. In addition to being an inept [I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches)] and corrupt (see below and particularly the summary provided to the FBI under penalty of perjury [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s. attorney.

6-29-10

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

GLOBAL ECONOMIC CONCERNS SINK STOCKS, SEND MAJOR AVERAGES TO NEW 2010 LOWS Midnight Trader 4:30 PM, Jun 29, 2010 --

DJIA down 268.22 (-2.7%) to 9,870

S&P 500 down 33.33 (-3.1%) to 1,041

Nasdaq down 85.47 (-3.9%) to 2,135

GLOBAL SENTIMENT

Hang Seng down 2.3%

Nikkei down 1.3%

FTSE down 3.1%

UPSIDE MOVERS

(+) TEVA gets FDA OK for generic Effexor.

(+) RZ inks deal with Hyundai to develop jointly renewable energy and electric vehicles.

DOWNSIDE MOVERS

(-) MU results beat year-ago earnings but shipments news weighs.

(-) JBL upgraded but following broader market lower.

(-) WFC, BAC down as report says lower sales will follow credit card swipe fees.

(-) GOOG making slight change to search in China.

(-) BIDU rival to GOOG also down in active trading.

(-) TCK reports serious incident at Greenhills.

(-) CAGC issuing new stock.

(-) EPCT files NDA for Ceplene in AML.

(-) TTGT initiated at Buy.

(-) SGMO reports positive study data.

(-) DIS upgraded.

(-) INO says journal publishes positive study data from company

(-) GFI sees Q4 production at upper end of guidance.

(-) RMBS continues evening gain seen on licensing deal with GE.

(-) AEZS gets positive scientific advice from EMA for phase 3 colorectal cancer trial.

(-) MMM gained last evening after guiding for Q2 sales in line to above Street view.

MARKET DIRECTION

Already sharply lower stock averages plumbed new depths late in the regular trading day before again paring those losses just slightly into the final bell. Global stocks tumbled after two reports rattled confidence in the Chinese and U.S. economic recoveries and fresh concerns surrounding euro-zone debt were stirred again.

Down over 300 points at different times during the trading day, the blue-chip DJIA closed down 268 points, or 2.7%, at 9,870, below the key 10,000 line and marking the lowest close of 2010. The S&P 500 and the Nasdaq Composite closed down 3.1% to 3.9%, respectively, also charting fresh 2010 lows.

Two-year Treasury yields hit new record lows, the VIX volatility index soars and safe-haven funds flowed back into gold even as the dollar gained.

Already down sharply, the major stock indexes deepened their losses after the Conference Board's confidence index dropped to 52.9 in June from a revised 62.7 the month before. Earlier the S&P/Case-Shiller index showed home prices in 20 U.S. cities rising in April, with the jump mostly attributed to a tax credit.

Tuesday's global slide was kicked off as China's main stock index closed down more than 4% at a 14-month low.

The Conference Board said its leading economic indicator for China rose 0.3% in April, correcting a previous reading of 1.7% increase, which the group said was the result of a calculation error. The 0.3% reading is a sharp pullback from the 1.2% rise recorded in March …

Markets Plunge On Tumbling Confidence

Investors Bailout: Dave's Daily … A trifecta of blows hit markets Tuesday. First, Chinese authorities made some math mistakes in calculating their Leading Indicators first reporting growth at 1.7% only to realize it really was just .3%. That put heavy downward pressure on Shanghai and Asian markets in general. Next, European markets didn't like that news and more negative rumors of a massive IMF bailout in the works in the eurozone plus more troubles at Bank Santander. The U.S. Consumer Confidence came in at the miserable reading of 52.9 versus expectations of 62 and U.S. stocks crumbled …

Banks Could Have Until 2022 to Comply to Reform Rules Bloomberg | Goldman Sachs Group Inc. and Citigroup Inc. are among U.S. banks that may have as long as a dozen years to cut stakes in in-house hedge funds and private- equity units under a regulatory revamp agreed to last week.     Yes, We Really Are Headed Into Another Depression, Says Dan Alpert Henry Blodget | Dan Alpert says we have not yet addressed the core problem with our economy, which is the massive debt mountain.     G20 summit: leaders agree to halve deficits by 2013 London Telegraph | Leaders at the G20 summit in Toronto have agreed to cut national budget deficits in half by 2013.     Consumer Confidence Collapses Massively In June The Conference Board’s consumer confidence index for June dropped sharply to 52.9, which is a horrible underperformance of expectations given that consensus had forecast a reading of 62.     U.S. Stocks Drop on Concern About China; Dow Falls Below 10,000 U.S. stocks slid, with the Standard & Poor’s 500 Index declining for the sixth time in seven days and the Dow Jones Industrial Average sinking below 10,000, as concern intensified that growth in China is cooling.     The Military Can Waste Money Too This past week various news events once again made it abundantly clear that our foreign policy is an abject failure. Unfortunately, in spite of this the administration is determined to stay on this destructive course, despite any past promises to change it.      Gold On Brink of Parabolic Move? On Monday investors were chattering about the upside in gold even though the precious metal has already surged 12% over the past 6 months.

Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice summary of what the future may hold in its "Up and Down Wall Street." It summarizes as well as anything I've read recently where we're likely headed. Bugging the (stock) market is the increasingly obvious disparity between what the Street's incorrigible cheerleaders see and prophesy and what's actually happening in the real world...The double dip in housing may or may not be a template of what's in store for the economy as a whole. But at the very least, it is a precursor of other serious disappointments destined to feed the unease among the jittery populace, which most emphatically includes investors.

It cites the predictions of SDK Captial's Dee Kessler:

--the massive fiscal and monetary stimulus so liberally applied in 2008-2009 is starting to run out of steam, with financial conditions tightening and leading economic indicators pointing to a stretch of "anemic activity."

--"structural headwinds," such as public and private deleveraging, higher taxes, greater regulation and trade tensions.

--the well-publicized woes of the European bloc, which accounts for 20% of the world's GDP, as further evidence that the global economy, as he puts it, is downshifting.

--The period of easy comparisons in corporate results, he says, is coming to a close,

--"Although the fundamentals in the U.S., Europe and Japan are worse," Dee spots plenty of downside in emerging markets and doesn't fancy the notion of decoupling.

--Come another financial crisis, "the only policy response left will be to print money." Which, of course, is what the gold bugs are counting on and why bullion has glistened so brightly.

That about sums up the outlook. The nice insight here is that anxiety over future economic malaise -- and the additional money printing that'll be done to mask it -- might be a bigger factor than current inflationary pressure behind the surge in gold prices.

In other words, for the deflation-believers: deflation today? Perhaps. But big-time inflation tomorrow.

Disclosure: No positions

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Stocks: Once More Up, Then the Big Down Smith -The ingredients for a classic head and shoulders topping pattern in the stock market are all present. That suggests one more rise and then a massive grinding move down to 2009 lows. Officially, of course, everything's peachy with the economy. Europe is fixed, China is booming, consumer confidence is rising, and we are encouraged to resume our borrow and spend ways as the economy will not "double-dip" into recession. The economy will not slide into another recession, we are reassured constantly, even though roughly 80% of Americans don't think we ever left the recessionary quicksand. Please see "Two Scoop Special": Double-Dip Recession Guaranteed (May 21, 2010) for more … Exactly what drivers are there for future gains in corporate profits? I can't think of any, short of Martians landing and going on a shopping spree with gold they manufacture in their spacecraft. On the negative side, we have:

1. The rising dollar is a huge headwind to sales in the eurozone and elsewhere.
2. The low-hanging fruit of pushing the workforce to produce more output for the same salary/wages have all been picked.
3. The inventory build-out is done for everything but the iPhone 4 and iPad.
4. So-called "fiscal austerity" (when did living within one's means become some sort of brutual "austerity"? Talk abour propaganda!) in the eurozone and U.S. states will remove tens of billions of dollars from corporate sales.
5. Global overcapacity is alive and well. There is overcapacity in everything manufactured except the iPhone 4, and that will be in glut by 2011 as well.
6. Uncle Sam is not distributing trillions of dollars quite as freely. There seems to be some glimmer of awareness that there could be consequences of squandering trillions of borrowed dollars on essentially worthless projects such as occupying Iraq, inflating the housing market by socializing the entire mortgage market, propping up Fannie Mae, Freddie Mac and FHA, etc.
7. Housing is rolling over now that the socialized mortgage market has been tentatively allowed to go off life-support (it is wheezing and turning blue in the face, not signs of vibrant health).
8. There is no pricing power anywhere once stimulus-goosed demand declines to organic demand (flat to down) …

Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no matter what the scenario posited, this time the territory’s uncharted, and the debacle / crisis like no other owing to the advent of computerization will have enabled an obfuscating tool of unprecedented proportion [worthless paper, huge frauds as already extant], and a two-edged sword in the most negative sense prospectively)

Choosing healthy foods now called a mental disorder Mike Adams | If you focus on eating healthy foods, you’re “mentally diseased” and probably need some sort of chemical treatment involving powerful psychotropic drugs.     48% See Government Today As A Threat to Individual Rights Rasmussen Reports | Nearly half of American Adults see the government today as a threat to individual rights rather than a protector of those rights.     Journalist: Toronto Police Sexually Molested Women At G20 Independent journalist Amy Miller speaks to media outside the Alternative Media Centre on Harbord Ave. on Monday. Miller says that women arrested by Toronto police were threatened with rape, that numerous women were strip-searched by male officers and that one severely traumatized woman was sexually molested by police.     Columbia University: Body Scanners Increase Risk Of Skin Cancer Airport body scanners could lead to an increase in skin cancers according to scientists at Columbia University, who warn that the dose emitted by the naked x-ray devices could be up to 20 times higher than originally estimated, in another clear example of how the scanners are completely illegal, dangerous to public health, and need to be removed immediately.     London Police Attack Photographer, Claim “We Don’t Have To Have A Law” To Detain You A young photographer was accused of being a threat under the Terrorism Act and eventually pushed down a flight of stairs by London police after he refused to stop photographing officers and cadets during a public parade.      New Big Screen Documentary Exposes Pat Tillman Cover-Up A new documentary set to hit the big screen this summer lifts the lid on the cover-up behind the death of Pat Tillman, the pro-football star who gave up a lucrative career to fight in Afghanistan and Iraq before preparing to return to the U.S. as an anti-war icon, at which point he was killed in a so-called friendly fire incident that more closely resembled a deliberate assassination.     G20 protesters speak: It was chaos, riot cops fired on women Dan Dicks and Charlie Veitch, G-20 protesters just back from Toronto, give their on-the-ground view of the battles between police and those opposed to the New World Order.     China Denies Military Exercise Aimed at U.S. China denied on Tuesday media reports that an artillery drill in the East China Sea was in response to a planned military exercise between South Korea and the United States.     GREECE UNDER NEWS BLACKOUT: Here’s How An Eyewitness Describes Today’s Riots There are reports this morning of violent protests/riots in Greece, once again. Here’s how a source on the ground describes the situation.     Target Tehran? Israel, US ‘prepare to attack Iran’ Reports are circulating that the U.S is amassing a greater military presence in the Middle East. The alleged build up is also rumoured to involve the Israeli use of Saudi Arabian air space. It’s thought by some to be in preparation for an attack on Iran.     Kucinich: ‘We are losing our nation to lies about the necessity of war’ In Afghanistan, corruption is rife. It is so abundant, in fact, that a senior US lawmaker declared on Monday that she’d be freezing $3.9 billion in Afghan aid dollars until the situation is addressed.     Turkey bans Israeli military flight from its airspace as freeze deepens Turkey has banned an Israeli military flight from its airspace in apparent retaliation for Israel’s interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed.

Iran nuclear scientist Shahram Amiri 'flees US captors' BBC News - A man who says he is an Iranian nuclear scientist claims to have escaped after being abducted by US agents. In a video shown on Iranian state TV, he says he has escaped in the US state of Virginia and is now on the run.    Missing Iran scientist says he escaped US agents: report Reuters    Turkey Asks Iran to Return to Table Wall Street Journal

`Drudgereport: KRUGMAN: 'We are now, I fear, in the early stages of a third depression'...`

`'RECOVERY SUMMER' CONTINUES...`
`STOCKS HIT LOWEST OF YEAR...`
`Consumer Confidence Plummets in June...`
`17% plunge in CITIGROUP triggers 5-minute trading pause... NEW CLASHES IN ATHENS...`
`Greeks Walk Off Job... NEARLY 2,000 PAGES: The legislation would redraw how money flows through economy...`
`Government would have broad new powers to seize... DODD: 'No one will know until this is actually in place how it works'...`
`Bank stocks soar … see new old opportunities for new old frauds ...`

`buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ...`

`WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook...SCARY OBAMA: 'VERY DIFFICULT CHOICES AHEAD' ON DEFICITSCHICAGOLAND BOMBSHELL: Obama knew plot to trade Cabinet post for appointing Jarrett to Senate -- Testimony... Greece puts its islands up for sale in futile attempt to save economy...`

`DEUTSCHE BANK says US financial conditions are worse...`

`New home sales plunge 33%...`
`Record low...`

`CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ... GEN. PRAYFORUS`
`JUNE: DEADLIEST MONTH...`
`Obama doubles down on war...`
`New General, Old Strategy...`

6-28-10

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice summary of what the future may hold in its "Up and Down Wall Street." It summarizes as well as anything I've read recently where we're likely headed. Bugging the (stock) market is the increasingly obvious disparity between what the Street's incorrigble cheerleaders see and prophesy and what's actually happening in the real world...The double dip in housing may or may not be a template of what's in store for the economy as a whole. But at the very least, it is a precursor of other serious disappointments destined to feed the unease among the jittery populace, which most emphatically includes investors.

It cites the predictions of SDK Captial's Dee Kessler:

--the massive fiscal and monetary stimulus so liberally applied in 2008-2009 is starting to run out of steam, with financial conditions tightening and leading economic indicators pointing to a stretch of "anemic activity."

--"structural headwinds," such as public and private deleveraging, higher taxes, greater regulation and trade tensions.

--the well-publicized woes of the European bloc, which accounts for 20% of the world's GDP, as further evidence that the global economy, as he puts it, is downshifting.

--The period of easy comparisons in corporate results, he says, is coming to a close,

--"Although the fundamentals in the U.S., Europe and Japan are worse," Dee spots plenty of downside in emerging markets and doesn't fancy the notion of decoupling.

--Come another financial crisis, "the only policy response left will be to print money." Which, of course, is what the gold bugs are counting on and why bullion has glistened so brightly.

That about sums up the outlook. The nice insight here is that anxiety over future economic malaise -- and the additional money printing that'll be done to mask it -- might be a bigger factor than current inflationary pressure behind the surge in gold prices.

In other words, for the deflation-believers: deflation today? Perhaps. But big-time inflation tomorrow.

Disclosure: No positions

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression].

Stocks: Once More Up, Then the Big Down Smith -The ingredients for a classic head and shoulders topping pattern in the stock market are all present. That suggests one more rise and then a massive grinding move down to 2009 lows. Officially, of course, everything's peachy with the economy. Europe is fixed, China is booming, consumer confidence is rising, and we are encouraged to resume our borrow and spend ways as the economy will not "double-dip" into recession. The economy will not slide into another recession, we are reassured constantly, even though roughly 80% of Americans don't think we ever left the recessionary quicksand. Please see "Two Scoop Special": Double-Dip Recession Guaranteed (May 21, 2010) for more … Exactly what drivers are there for future gains in corporate profits? I can't think of any, short of Martians landing and going on a shopping spree with gold they manufacture in their spacecraft. On the negative side, we have:

1. The rising dollar is a huge headwind to sales in the eurozone and elsewhere.

2. The low-hanging fruit of pushing the workforce to produce more output for the same salary/wages have all been picked.

3. The inventory build-out is done for everything but the iPhone 4 and iPad.

4. So-called "fiscal austerity" (when did living within one's means become some sort of brutual "austerity"? Talk abour propaganda!) in the eurozone and U.S. states will remove tens of billions of dollars from corporate sales.

5. Global overcapacity is alive and well. There is overcapacity in everything manufactured except the iPhone 4, and that will be in glut by 2011 as well.

6. Uncle Sam is not distributing trillions of dollars quite as freely. There seems to be some glimmer of awareness that there could be consequences of squandering trillions of borrowed dollars on essentially worthless projects such as occupying Iraq, inflating the housing market by socializing the entire mortgage market, propping up Fannie Mae, Freddie Mac and FHA, etc.

7. Housing is rolling over now that the socialized mortgage market has been tentatively allowed to go off life-support (it is wheezing and turning blue in the face, not signs of vibrant health).

8. There is no pricing power anywhere once stimulus-goosed demand declines to organic demand (flat to down) …

Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no matter what the scenario posited, this time the territory’s uncharted, and the debacle / crisis like no other owing to the advent of computerization will have enabled an obfuscating tool of unprecedented proportion [worthless paper, huge frauds as already extant], and a two-edged sword in the most negative sense prospectively)

Momentum Book Update: The Market Is a Mess and the Long Bond Is About to Break Out … Not only do us swing traders have to fight the urge to chase price action up, but lay off the keyboard trying to catch falling knives in the relative strength stocks which are holding up. If you tried to buy support in your favorite names this week, you got your hands cut up. I’ll continue to rely on the understanding of my own emotions as they have served me well. When we opened higher on Monday morning I knew I was in the right place, cash, as the market was just way overbought. If you bought most relative strength names last week, by the end of this week you were well underwater. So where do we go from here? I’ve got no clue, the market is a mess, the charts are a mess, and the long bond is about to break out. If that happens all bets are off, we could see an “event”. If the smart money is lining up at the exits and moving into bonds, there’s a good chance they see something coming down the pipe …

SUITING UP FOR A POST-DOLLAR WORLD John Browne ‘The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie's choice between social unrest and bankruptcy. But with the "Club Med" economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Our argument has always been that the US benefits from its reserve-currency status, allowing it to accumulate unsustainable debts for an unusually long period without the immediate repercussions of inflation or higher borrowing costs. But this false sense of security may be setting us up for a truly monumental crash. There is fresh evidence that time is running out for the dollar-centric global monetary order. In fact, central banks outside the US are already making swift and discrete preparation for a post-dollar era.To begin, the People's Bank of China has just this week decided to permit a wider trading range between the yuan and the dollar. This is the first step toward ending the infernal yuan-dollar peg. While the impetus behind this abrupt change remains a mystery, I have a sneaking suspicion that, as my colleague Neeraj Chaudhary explained in his commentary last week, the nationwide labor strikes were a prime motivator. In response to the 2008 credit crunch, the Fed printed so many dollars that the People's Bank of China was forced to drive Chinese inflation into double digits to maintain the peg. The pain has fallen on China's workers, who have seen their wages stagnate while prices for everything from milk to apartments have skyrocketed. This week's move indicates that, regardless of its own policy motives, the Communist Party can no longer afford to keep pace with the dollar's devaluation. The result will be a shift in wealth from America to China, which may trigger a long-anticipated run on the dollar, while creating investment opportunities in China. Just days before China's announcement, Russian President Dmitry Medvedev rattled his monetary sabre by telling the press of his intention to lead the world toward a new monetary order based on a broad basket of currencies. Giving strength to his claim, the Central Bank of Russia announced that it would be adding Canadian and Australian dollars to its reserves for the first time. Analysts suggest that the IMF may follow suit. While Russia floats in the limbo between hopeless kleptocracy and emerging economy, it does possess vast natural resources and a toe-hold in both Europe and Asia. In other words, it will be a strategically important partner for China as it tries to cast off dollar hegemony. Speaking of Europe, the major powers there are moving toward a post-dollar world by rejecting President Obama's calls to jump on America's debt grenade. The prescriptions coming from Washington translate loosely to: our airship is on fire, so why don't you light a candle under yours so that we may crash and burn together. Given that dollar strength is largely seen as a function of euro weakness (as Andrew Schiff discussed in our most recent newsletter, debt troubles in the eurozone's fringe economies have created a distorted confidence in the greenback. However, as you might imagine, Europe has higher priorities than being America's fall guy. Led by an ever-bolder Germany, the European states are wisely choosing not to throw themselves on our funeral pyre, but to wisely clean house in anticipation of China's rise. In another ominous sign for the dollar, the Financial Times reported Wednesday that after two decades as net sellers of gold, foreign central banks have now become net buyers. What's more, more than half of central bank officials surveyed by UBS didn't think the dollar would be the world's reserve in 2035. Among the predicted replacements were Asian currencies and the euro, but - by far - the favorite was gold. This is supported by Monday's revelation by the Saudi central bank that it had covertly doubled its gold reserves, just about a year after China made a similar admission. There is no reason to assume these are isolated incidents, or that the covert trade of dollars for gold doesn't continue. To the contrary, this is compelling evidence that foreign governments are outwardly supporting the status quo while quietly preparing for the dollar's almost-inevitable devaluation. What people like Paul Krugman believe to be a return to medieval economics may, in fact, be the wave of the future. In peacetime, hardened troops will likely tolerate a blowhard general for an extended period; but when the artillery opens up with live ordnance, an ineffectual leader risks rapid demotion. The newspapers are now riddled with hints that foreign governments have lost faith in Washington and the dollar reserve system. It seems to me only natural that after a century of war, inflation, and socialism, the next hundred years would belong to those people who hold the timeless values of hard money and fiscal prudence. Unfortunately, our policymakers are not those people.’

Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms Washington Post | Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute dealmaking.     As 1.3 Million Americans Are About To Lose Their Jobless Benefits This Week, The Unemployment Rate Will Surge To 10.5%   As we reported on Friday, a critical bill that was unable to pass this past week was the extension of unemployment benefits to millions of Americans currently collecting a $1,200 average monthly stipend from the US government for sitting on their couch and not paying their mortgage.      Congress Pimps Out the American People We’ve known for over a year that real financial reform wouldn’t happen.

Celente: The US is run by Wall Street Russia Today June 26, 2010 While the White House is celebrating the new financial reform bill, Gerald Celente of the Trends Research Institute says that nothing has really changed. Banks are still divided into “too big to fail” or “too small to save;” people are still being encouraged to spend rather than save. Celente says that the only thing that keeps the US from putting in austerity measures as has been done in most of Europe is that the US can print more money. While the White House is celebrating the new financial reform bill, Gerald Celente of the Trends Research Institute says that nothing has really changed.

Chart of the Day: Post-Mega Bear Rallies ‘ … The implication of this graph is that, if the current market follows the two references, there is a risk that the March, 2009 lows may be taken out … ‘       Three U.S. Banks Collapse as Bond Street Holdings Acquires Another Lender Regulators closed banks in Florida, Georgia and New Mexico, awarding a third financial institution to Bond Street Holdings LLC, an investment firm that first bought banks in January.     States of Crisis for 46 Governments Facing Greek-Style Deficits Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate.

Huge tent city takes root in Hawaii Pastor Joe Hunkin picked his way around rusted car axles, propane tanks and two-by-fours studded with bent nails to find a homeless encampment where people have been cooking and sleeping directly behind Waipahu High School, in an area that received unwanted national attention this month.

G20 summit: leaders agree to halve deficits by 2013 London Telegraph | Leaders at the G20 summit in Toronto have agreed to cut national budget deficits in half by 2013.     Financial Reform Bill Will Not Stop the Next Meltdown Greg Hunter | The much awaited financial reform bill was finished up in an overnight marathon House and Senate committee session last week.       RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve Daily Telegraph | “The US government has a technology, called a printing press, that allows it to produce as many US dollars as it wishes at essentially no cost.”

Japan May unemployment surprises with rise to 5.2%

Assassins hit leading candidate in key Mexican border state MiamiHerald.com - Tim Johnson MEXICO CITY -- A presumed drug cartel assassination squad Monday gunned down the leading candidate for governor in a state bordering Texas, putting a chill on Mexico just six days before local and regional elections.      Rodolfo Torre Cantu Assassinated; Drug Cartels Suspected, Say Reports CBS News      Leading politician Rodolfo Torre Cantú assassinated in Mexico The Guardian

Charlie Veitch: Arrested, Tortured, Caged by Toronto Fascist Police at G8/G20 Charlie Veitch, founder of activist group The Love Police describes his ordeal at the hands of Canadian jackboots on the scene of the G8/G20 meeting in Toronto.       Anarchists leave trail of destruction The streets of Toronto descended into anarchy Saturday as the city’s police chief warned of more mayhem on the last day of the G20 summit.

How many Americans are targeted for assassination? When The Washington Post’s Dana Priest first revealed (in passing) back in January that the Obama administration had compiled a hit list of American citizens targeted for assassination, she wrote that “as of several months ago, the CIA list included three U.S. citizens.”       How many Americans are targeted for assassination? Glenn Greenwald | Not even John Yoo claimed that the President possessed the power Obama is claiming.       Greece Ready to Sell Rhodes, Mykonos to Investors Guardian | Selling off ancient civilization in order to pay debts owed to international bankers who create money out of thin air.      The Real Truth About BP and What is Happening in the Gulf Kurt Nimmo | If this continues much longer the military will be called in — not to evacuate people but to contain angry people.

China's Hu Jintao Says Group of 20 Must Coordinate to Consolidate Recovery Bloomberg … How about the G195 countries in the world collectively be considered in this task of coordination owing to the abject failure of the so-called G20 which have in lockstep coordination precipitated this global crisis including the war mongering, war criminal acts of the so-called nato allies et als, particularly the u.s., and as well the likes of war criminal nation israel which have never avoided a contra-indicated, anti-recovery war / conflict they could contrive / rationalize. The so-called G7, 8, 9, 20, etc., are a pathetic bunch of incompetent vegetables / jokers / showmen / clowns.

One of those … Daaaaah! Moments … Panetta says Afghan progress slower than expected Los Angeles Times - Days after President Obama installed a new US military commander in Afghanistan, CIA Director Leon E. Panetta conceded Sunday that progress in the war has been "harder" and "slower than I think ...     Panetta says Afghan insurgents show no real interest in reconciliation talks Washington Post     CIA Retains Controversial Security Firm in Afghanistan Wall Street Journal       `CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ...`

New York Times reporter calls Zionist terrorism ‘romantic’ A little-noticed comment in a New York Times interview with Israeli opposition leader Tzipi Livni has critics arguing that it shows the media has a “double standard” when it comes to terrorism.

States of Crisis for 46 Governments Facing Greek-Style Deficits Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate.       Evans-Pritchard Announces Fed Contemplating $5 Trillion QE Expansion In his latest column, the Daily Telegraph’s A. Evans-Pritchard does a good job of recapping all the various reasons why Bernanke has now completely cornered himself, and facing a newly collapsing economy, is left with just one recourse: the printing of more, more, more paper.        History Tells US The Euro Will Not Survive, Greece Will Get Worse, And There Will Be A Trade Shock With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that today’s entry would be all about the RMB and the effect of the PBoC announcement.      BP Plunges to 14-Year Low on Spill Costs, Hurricane Threat to Gulf Cleanup BP Plc slumped to a 14-year low in London trading on mounting costs to clean up the Gulf of Mexico oil spill amid concerns the first tropical storm of the Atlantic hurricane season may hamper efforts to halt the leak.

Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms Washington Post | Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute dealmaking.       Obama Gets “Financial Reform” Bill as He Heads for G20 USA Today | President Obama praised lawmakers today for developing a new set of financial regulations he hopes to sign into law by July 4.       Federal Reserve cautions on US economic growth London Telegraph | The US Federal Reserve opted to hold interest rates steady at record lows as it cautioned that Europe’s debt problems could slow American economic growth.

The following is really the quintessential question and issue, particularly in light of america’s defacto bankruptcy and international law; but paramount humanitarian concerns alone would militate against america’s current misguided course.   Is Petraeus McChrystal’s Replacement or Obama’s? Paul Craig Roberts | All of this drama is playing out despite the continuing lack of any valid reason for the american invasions of Iraq and Afghanistan.

Obama Can Shut Down Internet For 4 Months Under New Emergency Powers President Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was approved by a key Senate committee yesterday.        Toronto Transformed Into Locked Down Police State Downtown Toronto has been transformed into a police state ahead of the G8 and G20 conferences, with police given unprecedented powers to to arrest anyone near the security zone who refuses to identify themselves or agree to a police search.          Police Taser 86-Year-Old Bedridden Granny This is yet another example of how Tasers are nothing more than 21st century cattle prods for roid-head coward cops who are trained that the American people are their enemy. The Taser is not a tool of law enforcement, it is a torture device employed to make the scum public follow orders given by their jackbooted masters. [I ordinarily do not report or second-guess difficult split-second decisions by police in the life-threateningly dangerous, inherently criminal american environment they’re constrained to operate in, but this was a bit much and included only to indicate from my perspective, ‘not everything goes’. I believe the crime stats in america, which sports the highest crime rates in the world by far, are substantially under-stated / under-reported].       Congressman Rohrabacher: Almost All House Republicans Think Iraq War Illegal, Immoral Andrew Napolitano’s new Saturday show on the Fox Business Network is set to send shock waves through the political establishment this weekend when his guest – Republican Congressman Dana Rohrabacher – reveals that almost all House Republicans now believe that the invasion of Iraq was not only a mistake, but also illegal and immoral.         New Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms The government would have broad new powers to seize and wind down large, failing financial firms and to oversee the $600 trillion derivatives market.       Israeli Leaders Sued in Belgium for War Crimes

U.N. confirms rise in violence in Afghanistan      Obama Can Shut Down Internet For 4 Months Under New Emergency Powers       Food & Depopulation: Scams and Solutions Cassandra Anderson | Beware of all NGOs and so-called “non-profit” organizations.      Congress Votes to Impose Embargo On Iran Infowars.com | Congress believes more punitive measures are required in order to punish the Islamic state.       G20: Activists Arrested, Denied Entry into Canada Kurt Nimmo | Charlie Veitch of The Love Police arrested, Luke Rudkowski and fellow activists denied entry in New York.

Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister Ehud Barak were among those charged with war crimes committed during the Gaza war in the winter of 2008-09, the French daily Le Monde reported.       Congress OKs sanctions on Iran’s energy, banks Congress on Thursday approved tough new unilateral sanctions aimed at squeezing Iran’s energy and banking sectors, which could also hurt companies from other countries doing business with Tehran.      USF scientists find long line of oil 6 inches under the sand at Pensacola Beach A trench dug by a group of USF geologists shows a continuous layer of oil about six inches beneath the surface of Pensacola Beach near Gulf Islands National Seashore.      Venezuela to nationalize U.S. firm’s oil rigs Venezuela will nationalize a fleet of oil rigs belonging to U.S. company Helmerich and Payne, the latest takeover in a push to socialism as President Hugo Chavez struggles with lower oil output and a recession.

Cybersecurity Measures Will Mandate Government “ID Tokens” To Use The Internet The move to shut down and regulate the Internet, the only source of uncensored news and truth, under a new government-controlled system has accelerated into high gear with the announcement that the government’s cybersecurity strategy revolves around issuing Internet users with ID “tokens” without which they will not be able to visit websites, the latest salvo against web freedom which, in combination with Senator Joe Lieberman’s ‘kill switch’ bill, will serve to eviscerate the free Internet as we know it.

Turkey, the World Leader of Nations, bans israeli military flight from its airspace as freeze deepens The Guardian -Turkey has banned an israeli military flight from its airspace in apparent retaliation for Israel's interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed. Turkey restricts israeli use of airspace CNN International Turkey bars israeli planes ABC Online

G-8 ‘fully believes’ Israel will attack Iran, says Italy PM Haaretz | World leaders “believe absolutely” that Israel may decide to take military action against Iran.     Britain will not defeat Taliban and should open talks, says head of Army London Telegraph | Britain and its allies will not defeat the Taliban with military force and should soon open peace talks with insurgents in Afghanistan, the head of the Army said yesterday.      Trash Burn Pits in Afghanistan are Killing Active Duty Military & Veterans You Tube | Controversy has arisen over KBR-managed burn-pits in Afghanistan, which have also been used in Iraq, which many believe is causing deadly cancer in numerous U.S. war veterans.

`Drudgereport: KRUGMAN: 'We are now, I fear, in the early stages of a third depression'... NEARLY 2,000 PAGES: The legislation would redraw how money flows through economy...`
`Government would have broad new powers to seize... DODD: 'No one will know until this is actually in place how it works'...`
`Bank stocks soar … see new old opportunities for new old frauds ...`

`buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ...`

`WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook...SCARY OBAMA: 'VERY DIFFICULT CHOICES AHEAD' ON DEFICITSCHICAGOLAND BOMBSHELL: Obama knew plot to trade Cabinet post for appointing Jarrett to Senate -- Testimony... Greece puts its islands up for sale in futile attempt to save economy...`

`DEUTSCHE BANK says US financial conditions are worse...`

`New home sales plunge 33%...`
`Record low...`

`CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ...`

`GEN. PRAYFORUS`
`JUNE: DEADLIEST MONTH...`
`Obama doubles down on war...`
`New General, Old Strategy...`

3 SIGNS OF A SUCKER RALLY Simon Maierhofer ‘ … AFTER EXAMINING TECHNICAL EVIDENCE, SENTIMENT INDICATORS AND VARIOUS VALUATION METRICS, IT BECOMES OBVIOUS THAT THE RECENT BOUNCE PROVIDES A SELLING, NOT BUYING OPPORTUNITY ...’

Russell: This Is One Of The Largest Tops In Stock Market History Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. Pragmatic Capitalism June 24, 2010 Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. He has maintained that the bear market never ended and that the world is far too indebted to exit the bear market. He also believes the bear will not end until all fiat currencies have failed. Although I disagree with him on many aspects of the micro I agree with his larger macro outlook. This bear market is not over. The secular bear market lives on. Mr. Russell thinks we might be on the verge of a terrible collapse:
   “We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse.
Question: “What could possibly be behind such a bear market?” you ask. “The stock market is stirring up optimism on a weekly, if not daily basis, by not falling apart.”
Answer: This is the “rest” or “dead zone” I was talking about. Bear markets don’t conclude in a day, a week or a month. Months will go by, often adding to the bulls’ optimism.I think the key element behind this great bear market will be the complete destruction of all fiat currencies. This has been a long time coming. Fiat currencies are “wealth” created by man. They are created without sacrifice, without labor, without risk, and without sweat. Basically they are an immoral device, created by secretive bankers. If you watch the figures carefully, you’ll note the subtle deterioration. For instance, the advance-decline ratio, although up slightly for the week, had a relatively weak performance with the Dow up several hundred points over the course of the week. And we broke the trendline in May (see the chart below showing the cumulative advance-decline line for NYSE Common Stock only, which is what we publish in our figures (courtesy of DecisionPoint — www.decisionpoint.com). The vertical lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on the chart. [CHART] My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’

Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz Sheva | The Israeli Air Force recently unloaded military equipment at a Saudi Arabia base, a semi-official Iranian news agency claimed Wednesday.      It’s time for the world to take a close look at the despotic, totalitarian regime that presently exists for the grandeur and wealth of a few while hiding behind Islam as they betray same and Muslims everywhere. The time has come for regime change in Saudi Arabia to yield a nation of and for the people of Saudi Arabia and the glory of Islam.

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental or just coincidental but consistent with that similarly experienced by critics of corrupt defacto bankrupt america of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.]

Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     Drudgereport: `States Take Aim at Pension Costs...`     `...Bank failure pace more than double last year    REPORT: Madoff tells cellmates of $9 billion stash... they all have them…` Cases against Wall Street lag despite Holder’s vows to target financial fraud         `THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny?`

China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April May existing home sales plunged far below expectations, coming in at an annualized -2.2% rate, compared to consensus of 6.0%, and a revised 8% in April. This is the second worst monthly drop in history, and shows just how very wrong economists are, and how they will all have to revise their outlooks lower, for all macro indicators including GDP.

When will the SEC prosecute for market rigging? Michael Schmidt | Are the large gold bullion banks working in collusion with the US Federal Reserve to artificially torpedo the key rival to US dollar hegemony?     China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Amid crises, Obama declares war — on Arizona The Obama administration has a lot of fights on its hands. Putting aside real wars in Afghanistan and Iraq, there’s the battle against leaking oil in the Gulf, the struggle against 9.7 percent unemployment across the country, and clashes over the president’s agenda on Capitol Hill. Despite all that, the White House has found time to issue a new declaration of war, this time against an unlikely enemy: the state of Arizona.     Apple now collecting, sharing precise location of iPhone users Apple Inc. is now tracking the “precise,” “real-time geographic location” of iPhones, iPads and Macintosh computers — and has unwittingly gotten its customers to sign off on their being tracked by making a little-noticed modification to the language in its apps store. [The fact is that can be accomplished with any cell phone].     Australian Government To Force Internet Users To Install State-Approved Software The Australian government is set to intensify its war against Internet freedom by forcing web users to install state-approved anti-virus software. If they fail to do so, they will be denied an Internet connection, or if their computer is later infected, the user’s connection will be terminated.

Connecticut vegetable lieberman: China Can Shut Down The Internet, Why Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the zionist israeli lieberman, co-author of a bill that would give President Obama a ‘kill switch’ to shut down parts of the Internet, attempted to reassure CNN viewers yesterday that concerns about the government regulating free speech on the web were overblown, but he only stoked more alarm by citing China, a country that censors all online dissent against the state, as the model to which American should compare itself.

Mexican drug cartel threatens to harm U.S. police officers who bust drug shipments while off-duty New York Daily News | Mexican cartels added a new twist to the drug war this week by threatening to kill U.S. cops who seize their goods.     Former Israeli top spy calls for strike on Iran Israel should launch a pre-emptive strike to prevent arch-foe Iran from going nuclear, a former head of Israel’s Mossad intelligence agency said on Monday.      Israel’s Planned Attack on Iran from Caucasus Base A week ago, Israel leaked to the press that they had permission from Saudi Arabia to use their air space to attack Iran. The Saudi’s quickly denied this.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

`DEBT POISED TO OVERTAKE GDP`       Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8, WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling for the corrupt u.s. government as solicitor general, maybe he just wanted to go straight [Just Kidding!]. There is no immunity, judicial or otherwise for criminal acts. Moreover, there is no sovereign immunity for non-governmental acts as would include involvement in the illegal drug and related crimes, ie., bribery, etc., and the supreme court has so held against foreign nations in the context of the RICO statute but in my RICO case olson the liar would shill otherwise, not that he really had to worry in light of the pervasively corrupt and wastefully costly federal courts which should be abolished.

(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a criminal who should have served / should be serving time in prison for obstruction of justice, bribery, among other RICO violations. To alito, drug money is as green as corporate money and worth his vote as well. In addition to being an inept [I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches)] and corrupt (see below and particularly the summary provided to the FBI under penalty of perjury [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s. attorney.

You’re naïve to think that the so-called supreme court is any different from the rest of the meaningfully lawless and pervasively corrupt american ‘system’. I knew well an accomplished trial lawyer, fellow american college of trial lawyers / and a bar examiner, who pondered from time to time becoming a judge “so he’d never have to work again” – his words.

Some comments on alito…all appropriate:

Probably the worst appointment in one hundred years.

Posted by: mnjam

-----------------------

Really? That's a pretty sweeping statement to make about someone who's only been on the court a short few years.

And I thought that liberals were in universal agreement that Clarence Thomas was the worst appointment in all of history?

Posted by: blert | January 28, 2010 2:11 AM | Report abuse
----------------------------
Yes. Really. Alito is a total lightweight and hack. He makes Thomas look like John Marshall or Oliver Wendell Holmes. I KNOW ALITO.
Posted by: mnjam | January 28, 2010 2:24 AM |

the loser here is alito.lost his composure not good for a judge especially afederal or supreme justice .loser big time this will live with guy for a very time.roberts and the other justices will have a talk with him that is a given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |

Should Alito resign or be impeached?
Posted by: jdmca | January 28, 2010 1:05 AM |

Manchurian Candidates: Supreme Court allows China and others unlimited spending in US elections Greg Palast | Our future elections may come down to a three-way battle between China, Saudi Arabia and Goldman Sachs.       Call For Immediate Arrest of 5 Supreme Court Justices for Treason Gordon Duff | The bloated corpse we are creating in Washington is emitting a stench we can no longer abide.     The aforesaid would be shocking to anyone without a modicum of knowledge of the reality of pervasive corruption within the u.s. courts themselves and america generally, including all three branches of the u.s. government.

Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul says the CIA has has in effect carried out a “coup” against the US government, and the intelligence agency needs to be “taken out.” I also personally believe there has been a defacto coup d’etat which has manifested in various substantial, blatant, brazened frauds, ie., wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc., without any fear of prosecution, and of course concomitant decline for u.s. as the treasury is looted. But I also believe its scope is beyond just the CIA with many complicit within the corrupted 3 branches of u.s. government (fed judges, us attorneys, illegal system, etc.) plus the military and private big money, ie., Goldman Sachs / wall street men, etc., among other organized crime. america is defacto bankrupt in every way!

Rendition: Where the War on Terror Meets the War on Drugs Patrick Henningsen | It’s time to ditch the policies we have come to tolerate for decades before they consume what is left of our moral core. I’ve experienced the corrupt inter-relationship of the government (all 3 corrupt branches) and the illegal drug trade / obstruction of justice / bribery first hand, particularly the courts / u.s. attorneys offices (ie., alito – now u.s. supreme court justice – quid pro quo for his complicity / cover-up), feds; see immediately after article excerpt for links / summary.

…“Evidence points to aircraft – familiarly known as “torture taxis” – used by the CIA to move captives seized in its kidnapping or “extraordinary rendition” operations through Gatwick and other airports in the EU being simultaneously used for drug distribution in the Western hemisphere. A Gulfstream II jet aircraft N9875A identified by the British Government and the European Parliament as being involved in this traffic crashed in Mexico…” In 2004, another torture taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican soldiers found ..132 bags containing 3.3 metric tons of cocaine. The origination of the Gulfstream’s flight is unknown but it was destined for Cancun when it crash landed. Again, here is the important point: that same Gulf Stream II was one of the very same planes chartered to the CIA for the rendition of suspected terrorists prisoners. Gulf Stream II crashed in Mexico with 3 tons of cocaine on board ..it should not be surprising that this illegal practice of rendition has in some part, been used as a well-run smokescreen for another borderless illegal operation- an extremely lucrative international transfer and delivery of cash and narcotics.,,These flights are not subject to regular customs checks, inspections or normal regulations as they move seamlessly between destinations in the US, Britain, Europe, Middle East, Central Asia, Cuba and possibly through US bases in Turkey, Greece and Morocco…

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3^rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.).

[ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation.

NSA beats warrantless wiretap rap A Federal judge has dismissed a complaint against the National Security Agency’s (NSA)

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and corrupt costly bureaucracies.

There must be such things as parallel universes (I don’t really believe that, because there isn’t) or how else do you explain the disconnect between reality, current and prospective, and the wet dreams posited to keep the war funding / corporate welfare programs alive in collectively what has already become a trillion dollar boondoggle (not counting prospective medical costs, etc.) and promises to go much higher. Even israel apologist Cohen of The Washington Post alludes to the Vietnam analogy. However, even if there were real goals beyond the poppy / heroin trade which the Taliban had all but eradicated (there isn’t); even if america wasn’t defacto bankrupt (america is); even if america wasn’t killing innocent civilians in large numbers (war criminal nation america is); even if america’s allies haven’t similarly helped to bankrupt themselves by way of this war (they have); even if I hadn’t told you so (I did) ….. this war still was, is, and remains a very bad idea!

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

How does anyone take the u.s. seriously in light of their credibility problems, war crimes, etc.? What nuke technology israel didn’t steal from the u.s., the u.s. gave them along with missile, armaments, etc.. and paid for with taxpayer money that u.s. taxpayers and the defacto bankrupt nation don’t have.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran.

I include the first two comments to the foregoing headline:

Billo Says:

June 11th, 2010 at 6:15 am

Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us?

Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place.

Glen Reply:

June 11th, 2010 at 6:47 am

Lunacy it would be.

But it is also to their great credit that the Iranians have not made their own threats.

Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane.

Watch out america home of the insane, home of the leaders who want an 80% population reduction.

General McChrystal’s Burning Contempt for the Puppet Obama The farce that is the war in Afghanistan is coming apart at the seams. General Stanley McChrystal’s sharp comments about Obama, Biden, and the administration published by Rolling Stone are not so much about disrespect, as the script-reading corporate media talking heads would have it, but rather about a policy in disarray in Afghanistan.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

6-25-10

THE BANKSTERS: DAVE'S DAILY By Dave Fry ‘ There's a lot of nonsense and misleading information floating about regarding financial reform or finregs. Yes, all the things the headlines feature are in the bill, but in name only since they've watered down substantially. If not, why is the leading sector in markets today KBE (KBW Bank Index ETF)? Just because the uncertainty is removed? Hardly. Sure, for the banksters they can go about their business with little concern. Hell, Chris Dodd will probably be on the board on Citigroup in short order. The Volcker Rule in its purest form requires banks and brokers to be separated. In a milder form, it restricts proprietary trading with the public's funds. Since the FDIC guarantees deposits this means Uncle Sugar has been there to back-up stupid mistakes--that pesky Moral Hazard thing. In the current form negotiated by Barney and Chris there are just some restrictions on trading. Chris, using his best Pelosi description stated: "No one will know until this is actually in place how it works!" This is thoughtful leadership at its best! I could go on but the folks at Zero Hedge have things well described HERE. Markets limped along with gains in bank stocks and commodity markets including precious metals, base metals and energy as the dollar weakened. Once again volume on a slight up day was light while breadth positive …’

Flat Friday, But Stocks End Week Sharply Lower Midnight Trader 4:16 PM, Jun 25, 2010 --

NYSE up 33 (+0.5%) to 6,763.93

DJIA down 9 (-0.1%) to 10,144

S&P 500 up 3 (+0.3%) to 1,077

Nasdaq up 6 (+0.3%) to 2,223

GLOBAL SENTIMENT

Hang Seng down 0.21%

Nikkei down 1.92%

FTSE down 0.90%

UPSIDE MOVERS
(+) GS gaining in wake of bank reform deal.
(+) C gaining in wake of bank reform deal.
(+) ORCL continues evening gain that followed Q4 beat, Q1 guidance in
line with Street view.
(+) TIBX continues evening gain that followed earnings, revenue beat.
(+) MRK, CRME get European marketing approval for Brinavess
formulation.
(+) FRPT inks new contract.
(+) FINL continues evening decline that followed sales miss.
DOWNSIDE MOVERS
(-) RIMM continues evening decline seen after company beat with earnings
but missed with revenue and issued mixed guidance.
(-) BP hits fresh 14-year low after analyst note says stock sale may be
necessary.
MARKET DIRECTION
The Nasdaq ends with a 6 point gain and the S&P 500 with a 3 point gain, while the DJIA ends down 9 points. The major averages end the week sharply lower, with the Nasdaq down 3.8%, DJIA down 2.8% and S&P 500 down 3.6%. U.S. equities markets traded higher very early in the day, turned lower to start regular trading and eventually chopped in mixed action Friday as financial reform legislation and downward revised GDP figure provided mixed signals to investors weary of several losing sessions in a row. Earlier, lawmakers in the U.S. House and Senate approved one of the most significant increases in financial regulation since the Great Depression. The measure places new restrictions on the Federal Reserve and the country's biggest lenders. Specifically, it requires "too-big-to-fail" banks to implement capital and leverage limits and the government to perform ongoing audits of the Fed's lending programs. Also, the bill includes the so-called "Volker rule," which limits speculative trading activities. Financials were broadly higher as a result of the agreement over financial reform, which has been hanging over stocks for a while. Shares of JPMorgan Chase (JPM) and Citigroup (C) helped lift financial shares after negotiators in the U.S. Congress agreed on financial reforms in a bill that doesn't go all the way to a full ban of hedge-fund and buyout-fund investing, reports Bloomberg. The Volker rule that bans banks from investing in hedge funds and private-equity funds was eased to allow banks to invest up to 3% of their capital, the report said. Meanwhile, an analyst note from Nomura today suggested BP PLC (BP) needs to sell stock to assure counter-parties that it has the financial health to withstand the growing cost of cleaning up the Gulf of Mexico oil spill, according to a report on MarketWatch. The note says BP's roughly $15 billion of current liquidity looks adequate to deal with committed acquisitions, spill clean-up costs and the phased funding of the $20 billion escrow account for claims, but as the Macondo well continues to leak oil, the company's funding could be threatened. The company gave an update Friday, putting costs of cleaning up the spill now at $2.35 billion. Also, Oracle Corp. (ORCL) was higher as it reported a 25% rise in fourth quarter profit, which marked its first full quarter with Sun Microsystems as part of its group. The stock is seeing a steady sell-off into the open, dropping from pre-market highs. Earnings per share reached 60 cents per share excluding one-time items while revenue increased by 39% to $9.5 billion. Analysts polled by Thomson Reuters had expected earnings per share of 54 cents on revenue of $9.5 billion. There were some gains in drug stocks. Regulus Therapeutics and Sanofi-Aventis (SNY) inked a global, strategic alliance to discover, develop, and commercialize microRNA therapeutics. The alliance is potentially valued at over $750 million and includes a $25 million upfront fee paid by SNY to Regulus, a $10 million future equity investment subject to valuation agreement, and annual research support for three years with the option to extend two additional years. Shares of Merck (MRK) were higher after a drug the company makes that is used to restore a steady heartbeat received a recommendation for approval in Europe, the company said along with partner Cardiome Pharma Corp. (CRME). The treatment, called Brinavess, would be used as a treatment for the onset of atrial fibrillation in adults. In other financial news. Fidelity National Information Services (FIS) rose on a New York Post story saying private-equity firm TPG Capital is attempting to revive a buyout or restructuring deal for the payment services provider, Bloomberg reports.

States of Crisis for 46 Governments Facing Greek-Style Deficits Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate.       Evans-Pritchard Announces Fed Contemplating $5 Trillion QE Expansion In his latest column, the Daily Telegraph’s A. Evans-Pritchard does a good job of recapping all the various reasons why Bernanke has now completely cornered himself, and facing a newly collapsing economy, is left with just one recourse: the printing of more, more, more paper.        History Tells US The Euro Will Not Survive, Greece Will Get Worse, And There Will Be A Trade Shock With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that today’s entry would be all about the RMB and the effect of the PBoC announcement.      BP Plunges to 14-Year Low on Spill Costs, Hurricane Threat to Gulf Cleanup BP Plc slumped to a 14-year low in London trading on mounting costs to clean up the Gulf of Mexico oil spill amid concerns the first tropical storm of the Atlantic hurricane season may hamper efforts to halt the leak.

Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms Washington Post | Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute dealmaking.       Obama Gets “Financial Reform” Bill as He Heads for G20 USA Today | President Obama praised lawmakers today for developing a new set of financial regulations he hopes to sign into law by July 4.       Federal Reserve cautions on US economic growth London Telegraph | The US Federal Reserve opted to hold interest rates steady at record lows as it cautioned that Europe’s debt problems could slow American economic growth.

The following is really the quintessential question and issue, particularly in light of america’s defacto bankruptcy and international law; but paramount humanitarian concerns alone would militate against america’s current misguided course.   Is Petraeus McChrystal’s Replacement or Obama’s? Paul Craig Roberts | All of this drama is playing out despite the continuing lack of any valid reason for the american invasions of Iraq and Afghanistan.

Obama Can Shut Down Internet For 4 Months Under New Emergency Powers President Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was approved by a key Senate committee yesterday.        Toronto Transformed Into Locked Down Police State Downtown Toronto has been transformed into a police state ahead of the G8 and G20 conferences, with police given unprecedented powers to to arrest anyone near the security zone who refuses to identify themselves or agree to a police search.          Police Taser 86-Year-Old Bedridden Granny This is yet another example of how Tasers are nothing more than 21st century cattle prods for roid-head coward cops who are trained that the American people are their enemy. The Taser is not a tool of law enforcement, it is a torture device employed to make the scum public follow orders given by their jackbooted masters. [I ordinarily do not report or second-guess difficult split-second decisions by police in the life-threateningly dangerous, inherently criminal american environment they’re constrained to operate in, but this was a bit much and included only to indicate from my perspective, ‘not everything goes’. I believe the crime stats in america, which sports the highest crime rates in the world by far, are substantially under-stated / under-reported].       Congressman Rohrabacher: Almost All House Republicans Think Iraq War Illegal, Immoral Andrew Napolitano’s new Saturday show on the Fox Business Network is set to send shock waves through the political establishment this weekend when his guest – Republican Congressman Dana Rohrabacher – reveals that almost all House Republicans now believe that the invasion of Iraq was not only a mistake, but also illegal and immoral.         New Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms The government would have broad new powers to seize and wind down large, failing financial firms and to oversee the $600 trillion derivatives market.       Israeli Leaders Sued in Belgium for War Crimes

U.N. confirms rise in violence in Afghanistan      Obama Can Shut Down Internet For 4 Months Under New Emergency Powers       Food & Depopulation: Scams and Solutions Cassandra Anderson | Beware of all NGOs and so-called “non-profit” organizations.      Congress Votes to Impose Embargo On Iran Infowars.com | Congress believes more punitive measures are required in order to punish the Islamic state.       G20: Activists Arrested, Denied Entry into Canada Kurt Nimmo | Charlie Veitch of The Love Police arrested, Luke Rudkowski and fellow activists denied entry in New York.

Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister Ehud Barak were among those charged with war crimes committed during the Gaza war in the winter of 2008-09, the French daily Le Monde reported.       Congress OKs sanctions on Iran’s energy, banks Congress on Thursday approved tough new unilateral sanctions aimed at squeezing Iran’s energy and banking sectors, which could also hurt companies from other countries doing business with Tehran.      USF scientists find long line of oil 6 inches under the sand at Pensacola Beach A trench dug by a group of USF geologists shows a continuous layer of oil about six inches beneath the surface of Pensacola Beach near Gulf Islands National Seashore.      Venezuela to nationalize U.S. firm’s oil rigs Venezuela will nationalize a fleet of oil rigs belonging to U.S. company Helmerich and Payne, the latest takeover in a push to socialism as President Hugo Chavez struggles with lower oil output and a recession.

`Drudgereport: NEARLY 2,000 PAGES: The legislation would redraw how money flows through economy...`
`Government would have broad new powers to seize... DODD: 'No one will know until this is actually in place how it works'...`
`Bank stocks soar … see new old opportunities for new old frauds ...`

`buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ...`

`WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook... CHICAGOLAND BOMBSHELL: Obama knew plot to trade Cabinet post for appointing Jarrett to Senate -- Testimony... Greece puts its islands up for sale in futile attempt to save economy...`

`DEUTSCHE BANK says US financial conditions are worse...`

`New home sales plunge 33%...`
`Record low...`

`GEN. PRAYFORUS`
`JUNE: DEADLIEST MONTH...`
`Obama doubles down on war...`
`New General, Old Strategy...`

3 SIGNS OF A SUCKER RALLY Simon Maierhofer ‘ … AFTER EXAMINING TECHNICAL EVIDENCE, SENTIMENT INDICATORS AND VARIOUS VALUATION METRICS, IT BECOMES OBVIOUS THAT THE RECENT BOUNCE PROVIDES A SELLING, NOT BUYING OPPORTUNITY ...’

Russell: This Is One Of The Largest Tops In Stock Market History Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. Pragmatic Capitalism June 24, 2010 Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. He has maintained that the bear market never ended and that the world is far too indebted to exit the bear market. He also believes the bear will not end until all fiat currencies have failed. Although I disagree with him on many aspects of the micro I agree with his larger macro outlook. This bear market is not over. The secular bear market lives on. Mr. Russell thinks we might be on the verge of a terrible collapse:
   “We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse.
Question: “What could possibly be behind such a bear market?” you ask. “The stock market is stirring up optimism on a weekly, if not daily basis, by not falling apart.”
Answer: This is the “rest” or “dead zone” I was talking about. Bear markets don’t conclude in a day, a week or a month. Months will go by, often adding to the bulls’ optimism.I think the key element behind this great bear market will be the complete destruction of all fiat currencies. This has been a long time coming. Fiat currencies are “wealth” created by man. They are created without sacrifice, without labor, without risk, and without sweat. Basically they are an immoral device, created by secretive bankers. If you watch the figures carefully, you’ll note the subtle deterioration. For instance, the advance-decline ratio, although up slightly for the week, had a relatively weak performance with the Dow up several hundred points over the course of the week. And we broke the trendline in May (see the chart below showing the cumulative advance-decline line for NYSE Common Stock only, which is what we publish in our figures (courtesy of DecisionPoint — www.decisionpoint.com). The vertical lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on the chart. [CHART] My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’

Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz Sheva | The Israeli Air Force recently unloaded military equipment at a Saudi Arabia base, a semi-official Iranian news agency claimed Wednesday.      It’s time for the world to take a close look at the despotic, totalitarian regime that presently exists for the grandeur and wealth of a few while hiding behind Islam as they betray same and Muslims everywhere. The time has come for regime change in Saudi Arabia to yield a nation of and for the people of Saudi Arabia and the glory of Islam.

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental or just coincidental but consistent with that similarly experienced by critics of corrupt defacto bankrupt america of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.]

Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     Drudgereport: `States Take Aim at Pension Costs...`     `...Bank failure pace more than double last year    REPORT: Madoff tells cellmates of $9 billion stash... they all have them…` Cases against Wall Street lag despite Holder’s vows to target financial fraud         `THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny?`

China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April May existing home sales plunged far below expectations, coming in at an annualized -2.2% rate, compared to consensus of 6.0%, and a revised 8% in April. This is the second worst monthly drop in history, and shows just how very wrong economists are, and how they will all have to revise their outlooks lower, for all macro indicators including GDP.

When will the SEC prosecute for market rigging? Michael Schmidt | Are the large gold bullion banks working in collusion with the US Federal Reserve to artificially torpedo the key rival to US dollar hegemony?     China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Amid crises, Obama declares war — on Arizona The Obama administration has a lot of fights on its hands. Putting aside real wars in Afghanistan and Iraq, there’s the battle against leaking oil in the Gulf, the struggle against 9.7 percent unemployment across the country, and clashes over the president’s agenda on Capitol Hill. Despite all that, the White House has found time to issue a new declaration of war, this time against an unlikely enemy: the state of Arizona.     Apple now collecting, sharing precise location of iPhone users Apple Inc. is now tracking the “precise,” “real-time geographic location” of iPhones, iPads and Macintosh computers — and has unwittingly gotten its customers to sign off on their being tracked by making a little-noticed modification to the language in its apps store. [The fact is that can be accomplished with any cell phone].     Australian Government To Force Internet Users To Install State-Approved Software The Australian government is set to intensify its war against Internet freedom by forcing web users to install state-approved anti-virus software. If they fail to do so, they will be denied an Internet connection, or if their computer is later infected, the user’s connection will be terminated.

Connecticut vegetable lieberman: China Can Shut Down The Internet, Why Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the zionist israeli lieberman, co-author of a bill that would give President Obama a ‘kill switch’ to shut down parts of the Internet, attempted to reassure CNN viewers yesterday that concerns about the government regulating free speech on the web were overblown, but he only stoked more alarm by citing China, a country that censors all online dissent against the state, as the model to which American should compare itself.

Mexican drug cartel threatens to harm U.S. police officers who bust drug shipments while off-duty New York Daily News | Mexican cartels added a new twist to the drug war this week by threatening to kill U.S. cops who seize their goods.     Former Israeli top spy calls for strike on Iran Israel should launch a pre-emptive strike to prevent arch-foe Iran from going nuclear, a former head of Israel’s Mossad intelligence agency said on Monday.      Israel’s Planned Attack on Iran from Caucasus Base A week ago, Israel leaked to the press that they had permission from Saudi Arabia to use their air space to attack Iran. The Saudi’s quickly denied this.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

`DEBT POISED TO OVERTAKE GDP`       Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

     http://www.usdebtclock.org Get Real Time U.S. Debt Data

TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8, WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling for the corrupt u.s. government as solicitor general, maybe he just wanted to go straight [Just Kidding!]. There is no immunity, judicial or otherwise for criminal acts. Moreover, there is no sovereign immunity for non-governmental acts as would include involvement in the illegal drug and related crimes, ie., bribery, etc., and the supreme court has so held against foreign nations in the context of the RICO statute but in my RICO case olson the liar would shill otherwise, not that he really had to worry in light of the pervasively corrupt and wastefully costly federal courts which should be abolished.

(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a criminal who should have served / should be serving time in prison for obstruction of justice, bribery, among other RICO violations. To alito, drug money is as green as corporate money and worth his vote as well. In addition to being an inept [I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches)] and corrupt (see below and particularly the summary provided to the FBI under penalty of perjury [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s. attorney.

You’re naïve to think that the so-called supreme court is any different from the rest of the meaningfully lawless and pervasively corrupt american ‘system’. I knew well an accomplished trial lawyer, fellow american college of trial lawyers / and a bar examiner, who pondered from time to time becoming a judge “so he’d never have to work again” – his words.

Some comments on alito…all appropriate:

Probably the worst appointment in one hundred years.

Posted by: mnjam

-----------------------

Really? That's a pretty sweeping statement to make about someone who's only been on the court a short few years.

And I thought that liberals were in universal agreement that Clarence Thomas was the worst appointment in all of history?

Posted by: blert | January 28, 2010 2:11 AM | Report abuse
----------------------------
Yes. Really. Alito is a total lightweight and hack. He makes Thomas look like John Marshall or Oliver Wendell Holmes. I KNOW ALITO.
Posted by: mnjam | January 28, 2010 2:24 AM |

the loser here is alito.lost his composure not good for a judge especially afederal or supreme justice .loser big time this will live with guy for a very time.roberts and the other justices will have a talk with him that is a given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |

Should Alito resign or be impeached?
Posted by: jdmca | January 28, 2010 1:05 AM |

Manchurian Candidates: Supreme Court allows China and others unlimited spending in US elections Greg Palast | Our future elections may come down to a three-way battle between China, Saudi Arabia and Goldman Sachs.       Call For Immediate Arrest of 5 Supreme Court Justices for Treason Gordon Duff | The bloated corpse we are creating in Washington is emitting a stench we can no longer abide.     The aforesaid would be shocking to anyone without a modicum of knowledge of the reality of pervasive corruption within the u.s. courts themselves and america generally, including all three branches of the u.s. government.

Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul says the CIA has has in effect carried out a “coup” against the US government, and the intelligence agency needs to be “taken out.” I also personally believe there has been a defacto coup d’etat which has manifested in various substantial, blatant, brazened frauds, ie., wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc., without any fear of prosecution, and of course concomitant decline for u.s. as the treasury is looted. But I also believe its scope is beyond just the CIA with many complicit within the corrupted 3 branches of u.s. government (fed judges, us attorneys, illegal system, etc.) plus the military and private big money, ie., Goldman Sachs / wall street men, etc., among other organized crime. america is defacto bankrupt in every way!

Rendition: Where the War on Terror Meets the War on Drugs Patrick Henningsen | It’s time to ditch the policies we have come to tolerate for decades before they consume what is left of our moral core. I’ve experienced the corrupt inter-relationship of the government (all 3 corrupt branches) and the illegal drug trade / obstruction of justice / bribery first hand, particularly the courts / u.s. attorneys offices (ie., alito – now u.s. supreme court justice – quid pro quo for his complicity / cover-up), feds; see immediately after article excerpt for links / summary.

…“Evidence points to aircraft – familiarly known as “torture taxis” – used by the CIA to move captives seized in its kidnapping or “extraordinary rendition” operations through Gatwick and other airports in the EU being simultaneously used for drug distribution in the Western hemisphere. A Gulfstream II jet aircraft N9875A identified by the British Government and the European Parliament as being involved in this traffic crashed in Mexico…” In 2004, another torture taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican soldiers found ..132 bags containing 3.3 metric tons of cocaine. The origination of the Gulfstream’s flight is unknown but it was destined for Cancun when it crash landed. Again, here is the important point: that same Gulf Stream II was one of the very same planes chartered to the CIA for the rendition of suspected terrorists prisoners. Gulf Stream II crashed in Mexico with 3 tons of cocaine on board ..it should not be surprising that this illegal practice of rendition has in some part, been used as a well-run smokescreen for another borderless illegal operation- an extremely lucrative international transfer and delivery of cash and narcotics.,,These flights are not subject to regular customs checks, inspections or normal regulations as they move seamlessly between destinations in the US, Britain, Europe, Middle East, Central Asia, Cuba and possibly through US bases in Turkey, Greece and Morocco…

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3^rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.).

[ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation.

NSA beats warrantless wiretap rap A Federal judge has dismissed a complaint against the National Security Agency’s (NSA)

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and corrupt costly bureaucracies.

There must be such things as parallel universes (I don’t really believe that, because there isn’t) or how else do you explain the disconnect between reality, current and prospective, and the wet dreams posited to keep the war funding / corporate welfare programs alive in collectively what has already become a trillion dollar boondoggle (not counting prospective medical costs, etc.) and promises to go much higher. Even israel apologist Cohen of The Washington Post alludes to the Vietnam analogy. However, even if there were real goals beyond the poppy / heroin trade which the Taliban had all but eradicated (there isn’t); even if america wasn’t defacto bankrupt (america is); even if america wasn’t killing innocent civilians in large numbers (war criminal nation america is); even if america’s allies haven’t similarly helped to bankrupt themselves by way of this war (they have); even if I hadn’t told you so (I did) ….. this war still was, is, and remains a very bad idea!

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

How does anyone take the u.s. seriously in light of their credibility problems, war crimes, etc.? What nuke technology israel didn’t steal from the u.s., the u.s. gave them along with missile, armaments, etc.. and paid for with taxpayer money that u.s. taxpayers and the defacto bankrupt nation don’t have.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran.

I include the first two comments to the foregoing headline:

Billo Says:

June 11th, 2010 at 6:15 am

Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us?

Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place.

Glen Reply:

June 11th, 2010 at 6:47 am

Lunacy it would be.

But it is also to their great credit that the Iranians have not made their own threats.

Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane.

Watch out america home of the insane, home of the leaders who want an 80% population reduction.

General McChrystal’s Burning Contempt for the Puppet Obama The farce that is the war in Afghanistan is coming apart at the seams. General Stanley McChrystal’s sharp comments about Obama, Biden, and the administration published by Rolling Stone are not so much about disrespect, as the script-reading corporate media talking heads would have it, but rather about a policy in disarray in Afghanistan.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

6-24-10

3 SIGNS OF A SUCKER RALLY Simon Maierhofer ‘ … AFTER EXAMINING TECHNICAL EVIDENCE, SENTIMENT INDICATORS AND VARIOUS VALUATION METRICS, IT BECOMES OBVIOUS THAT THE RECENT BOUNCE PROVIDES A SELLING, NOT BUYING OPPORTUNITY ...’

US STOCKS-Market slides, pressured by consumer, bank shares (at Reuters)

STOCKS SLIDE, EXTENDING S&P'S DECLINE TO FOUR DAYS Midnight Trader 4:13 PM, Jun 24, 2010 --

NYSE down 119.8 (-1.8%) to 6,730.24

DJIA down 145.6 (-1.4%) to 10,153

S&P 500 down 18.4 (-1.7%) to 1,074

Nasdaq down 36.8 (-1.6%) to 2,217

GLOBAL SENTIMENT

Hang Seng down 0.59%

Nikkei up 0.5%

FTSE down 1.51%

UPSIDE MOVERS

(+) MIPI jumps on positive study data for Azedra.

(+) DFS gets upgraded.

(+) HAS jumps on report company to be taken private.

(-) OXGN says Zybrestat data to be presented.

(-) KMX upgraded.

DOWNSIDE MOVERS

(-) ADSK raises bottom end of Q2 guidance.

(-) LEN misses with revenue.

(-) NKE continues evening decline that followed earnings.

(-) BBBY continues evening decline that followed earnings.

(-) GENZ downgraded.

(-) CYAN earnings fall vs year-ago quarter.

MARKET DIRECTION

The leading stock averages close at or within a whisker of day lows. For the broad S&P 500, its four-day slide is the longest in seven weeks. Investors can't shake the pall of recent economic reports and the Federal Reserve's lukewarm assessment of the recovery. The decline comes despite data released this morning that showed unemployment applications fell last week and durable goods orders, while declining, weren't as bad as some analysts had predicted.

Both Nike (NKE) and Bed Bath & Beyond (BBBY) remain lower late after their respective earnings disappointments. Their performance rekindled concern for consumer spending.

Uncertainty for financial shares as Congress irons out a financial reform bill weighed on issues including Bank of America (BAC), down 2.1%, and Citi (C), down 2.3%.

Morning economic data weren't abysmal but did little to restore investor confidence.

The government said initial claims for unemployment benefits fell to a seasonally adjusted 457,000 last week. That's slightly better than the 460,000 forecast by economists polled by Thomson Reuters. But claims are still above levels that would signal employers are picking up hiring.

A second report showed orders for durable goods fell last month for the first time in six months. Orders for big-ticket goods fell 1.1% in May, slightly better than the 1.3% drop predicted.

Commodities finished higher as both gold and crude oil futures gained despite a rough start to the trading day.

Crude-oil for August delivery is up 0.2%, or $0.15, to $76.51 a barrel on the New York Mercantile Exchange.

In other energy futures, heating oil fell 0.94%, or $0.02, to $2.04 a gallon while natural gas fell 1.44%, or $0.07, to $4.73 per million British thermal units.

Meanwhile, gold for August delivery rose $11.10, or 0.96%, to $1,245.90 an ounce. In other metal futures, silver rose $0.26, or 1.38%, to $18.76 a troy ounce while copper rose $0.07 to $3.02 a pound.

Federal Reserve cautions on US economic growth London Telegraph | The US Federal Reserve opted to hold interest rates steady at record lows as it cautioned that Europe’s debt problems could slow American economic growth.     The Bank Lobby Gets Desperate on Derivatives AlterNet | Astonishingly, as Wall Street reform enters its final hours a tired, generic corporate refrain against regulation is gaining traction.     The Difference Between Economic Policy and Monetary Policy Richard Anatone | We must understand money, where it comes from, how the United States money works.       Peak oil postponed again So there is plenty of oil and gas after all. Prices will bumble along gently until well into the next decade.     Federal Reserve cautions on US economic growth The US Federal Reserve opted to hold interest rates steady at record lows as it cautioned that Europe’s debt problems could slow American economic growth.       The End of The Great Bailouts is Approaching Broke central banks, UK must monetize or collapse, 20 major countries on the edge of insolvency, No way but down for the Stock markets, defaulting on bailout payments, Fed audit going through Senate, shrinkage of high-end properties, VAT coming.

Russell: This Is One Of The Largest Tops In Stock Market History Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. Pragmatic Capitalism June 24, 2010 Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. He has maintained that the bear market never ended and that the world is far too indebted to exit the bear market. He also believes the bear will not end until all fiat currencies have failed. Although I disagree with him on many aspects of the micro I agree with his larger macro outlook. This bear market is not over. The secular bear market lives on. Mr. Russell thinks we might be on the verge of a terrible collapse:
   “We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most      disastrous bear market since the ‘30s, and maybe worse.
Question: “What could possibly be behind such a bear market?” you ask. “The stock market is stirring up optimism on a weekly, if not daily basis, by not falling apart.”
Answer: This is the “rest” or “dead zone” I was talking about. Bear markets don’t conclude in a day, a week or a month. Months will go by, often adding to the bulls’ optimism.I think the key element behind this great bear market will be the complete destruction of all fiat currencies. This has been a long time coming. Fiat currencies are “wealth” created by man. They are created without sacrifice, without labor, without risk, and without sweat. Basically they are an immoral device, created by secretive bankers. If you watch the figures carefully, you’ll note the subtle deterioration. For instance, the advance-decline ratio, although up slightly for the week, had a relatively weak performance with the Dow up several hundred points over the course of the week. And we broke the trendline in May (see the chart below showing the cumulative advance-decline line for NYSE Common Stock only, which is what we publish in our figures (courtesy of DecisionPoint — www.decisionpoint.com). The vertical lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on the chart. [CHART] My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’

June deadliest month for NATO troops since Afghan war began Four British troops were killed in a vehicle accident Wednesday in southern Afghanistan, making June the deadliest month for the U.S.-led NATO force since it began deploying in Afghanistan in 2002.     TILT: The illness afflicting workers exposed to BP’s oil disaster? Workers cleaning up the BP oil disaster in the Gulf of Mexico have reported suffering from flu-like symptoms that may be the consequence of exposure to chemicals in the oil as well as the petroleum-derived solvent being used to disperse the spill.      Iran on war alert over “US and Israeli concentrations” in Azerbaijan In a rare move, Iran has declared a state of war on its northwestern border, debkafile’s military and Iranian sources report.

Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz Sheva | The Israeli Air Force recently unloaded military equipment at a Saudi Arabia base, a semi-official Iranian news agency claimed Wednesday.      It’s time for the world to take a close look at the despotic, totalitarian regime that presently exists for the grandeur and wealth of a few while hiding behind Islam as they betray same and Muslims everywhere. The time has come for regime change in Saudi Arabia to yield a nation of and for the people of Saudi Arabia and the glory of Islam.       Tehran says will oppose ‘American forces’ in Karabakh Armenia Now | Iran will not allow a United States-led military force to be deployed in the Nagorno-Karabakh conflict zone that immediately borders on its territory, according to the Islamic Republic’s chief diplomat in Armenia.

`Drudgereport: WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook... CHICAGOLAND BOMBSHELL: Obama knew plot to trade Cabinet post for appointing Jarrett to Senate -- Testimony...`
`RAHM DELIVERED THE LIST...`
`BLAGO TAPE: Get Obama to fundraise from Buffett, Gates... Greece puts its islands up for sale in futile attempt to save economy...`

`DEUTSCHE BANK says US financial conditions are worse...`

`New home sales plunge 33%...`
`Record low...`
`GOV'T REPORT: 1,300 Inmates Got $9M in Homebuyer Tax Credits...`

`OIL GUSH AFTER ROBOT CRASH...`
`Boat captain, despondent over spill, commits suicide...`
`FEDERAL GOV'T HALTS SAND BERM DREDGING...`
`Thick pools of oil wash up along Florida coast...`

`GEN. PRAYFORUS`
`JUNE: DEADLIEST MONTH...`
`Obama's choice suggests longer troop presence...`

`FALLS ON THE SWORD: McChrystal out...`
`Obama doubles down on war...`
`New General, Old Strategy... Lebanon warns Israel against attacking ships...`
`Pakistan resolute on Iran gas deal; Defies US warning...`

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental or just coincidental but consistent with that similarly experienced by critics of corrupt defacto bankrupt america of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.]

Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     Drudgereport: `States Take Aim at Pension Costs...`     `...Bank failure pace more than double last year    REPORT: Madoff tells cellmates of $9 billion stash... they all have them…` Cases against Wall Street lag despite Holder’s vows to target financial fraud         `THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny?`

China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April May existing home sales plunged far below expectations, coming in at an annualized -2.2% rate, compared to consensus of 6.0%, and a revised 8% in April. This is the second worst monthly drop in history, and shows just how very wrong economists are, and how they will all have to revise their outlooks lower, for all macro indicators including GDP.

When will the SEC prosecute for market rigging? Michael Schmidt | Are the large gold bullion banks working in collusion with the US Federal Reserve to artificially torpedo the key rival to US dollar hegemony?     China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Amid crises, Obama declares war — on Arizona The Obama administration has a lot of fights on its hands. Putting aside real wars in Afghanistan and Iraq, there’s the battle against leaking oil in the Gulf, the struggle against 9.7 percent unemployment across the country, and clashes over the president’s agenda on Capitol Hill. Despite all that, the White House has found time to issue a new declaration of war, this time against an unlikely enemy: the state of Arizona.     Apple now collecting, sharing precise location of iPhone users Apple Inc. is now tracking the “precise,” “real-time geographic location” of iPhones, iPads and Macintosh computers — and has unwittingly gotten its customers to sign off on their being tracked by making a little-noticed modification to the language in its apps store. [The fact is that can be accomplished with any cell phone].     Australian Government To Force Internet Users To Install State-Approved Software The Australian government is set to intensify its war against Internet freedom by forcing web users to install state-approved anti-virus software. If they fail to do so, they will be denied an Internet connection, or if their computer is later infected, the user’s connection will be terminated.

Connecticut vegetable lieberman: China Can Shut Down The Internet, Why Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the zionist israeli lieberman, co-author of a bill that would give President Obama a ‘kill switch’ to shut down parts of the Internet, attempted to reassure CNN viewers yesterday that concerns about the government regulating free speech on the web were overblown, but he only stoked more alarm by citing China, a country that censors all online dissent against the state, as the model to which American should compare itself.

Mexican drug cartel threatens to harm U.S. police officers who bust drug shipments while off-duty New York Daily News | Mexican cartels added a new twist to the drug war this week by threatening to kill U.S. cops who seize their goods.     Former Israeli top spy calls for strike on Iran Israel should launch a pre-emptive strike to prevent arch-foe Iran from going nuclear, a former head of Israel’s Mossad intelligence agency said on Monday.      Israel’s Planned Attack on Iran from Caucasus Base A week ago, Israel leaked to the press that they had permission from Saudi Arabia to use their air space to attack Iran. The Saudi’s quickly denied this.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

`DEBT POISED TO OVERTAKE GDP`       Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

     http://www.usdebtclock.org Get Real Time U.S. Debt Data

TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8, WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling for the corrupt u.s. government as solicitor general, maybe he just wanted to go straight [Just Kidding!]. There is no immunity, judicial or otherwise for criminal acts. Moreover, there is no sovereign immunity for non-governmental acts as would include involvement in the illegal drug and related crimes, ie., bribery, etc., and the supreme court has so held against foreign nations in the context of the RICO statute but in my RICO case olson the liar would shill otherwise, not that he really had to worry in light of the pervasively corrupt and wastefully costly federal courts which should be abolished.

(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a criminal who should have served / should be serving time in prison for obstruction of justice, bribery, among other RICO violations. To alito, drug money is as green as corporate money and worth his vote as well. In addition to being an inept [I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches)] and corrupt (see below and particularly the summary provided to the FBI under penalty of perjury [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s. attorney.

You’re naïve to think that the so-called supreme court is any different from the rest of the meaningfully lawless and pervasively corrupt american ‘system’. I knew well an accomplished trial lawyer, fellow american college of trial lawyers / and a bar examiner, who pondered from time to time becoming a judge “so he’d never have to work again” – his words.

Some comments on alito…all appropriate:

Probably the worst appointment in one hundred years.

Posted by: mnjam

-----------------------

Really? That's a pretty sweeping statement to make about someone who's only been on the court a short few years.

And I thought that liberals were in universal agreement that Clarence Thomas was the worst appointment in all of history?

Posted by: blert | January 28, 2010 2:11 AM | Report abuse
----------------------------
Yes. Really. Alito is a total lightweight and hack. He makes Thomas look like John Marshall or Oliver Wendell Holmes. I KNOW ALITO.
Posted by: mnjam | January 28, 2010 2:24 AM |

the loser here is alito.lost his composure not good for a judge especially afederal or supreme justice .loser big time this will live with guy for a very time.roberts and the other justices will have a talk with him that is a given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |

Should Alito resign or be impeached?
Posted by: jdmca | January 28, 2010 1:05 AM |

Manchurian Candidates: Supreme Court allows China and others unlimited spending in US elections Greg Palast | Our future elections may come down to a three-way battle between China, Saudi Arabia and Goldman Sachs.       Call For Immediate Arrest of 5 Supreme Court Justices for Treason Gordon Duff | The bloated corpse we are creating in Washington is emitting a stench we can no longer abide.     The aforesaid would be shocking to anyone without a modicum of knowledge of the reality of pervasive corruption within the u.s. courts themselves and america generally, including all three branches of the u.s. government.

Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul says the CIA has has in effect carried out a “coup” against the US government, and the intelligence agency needs to be “taken out.” I also personally believe there has been a defacto coup d’etat which has manifested in various substantial, blatant, brazened frauds, ie., wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc., without any fear of prosecution, and of course concomitant decline for u.s. as the treasury is looted. But I also believe its scope is beyond just the CIA with many complicit within the corrupted 3 branches of u.s. government (fed judges, us attorneys, illegal system, etc.) plus the military and private big money, ie., Goldman Sachs / wall street men, etc., among other organized crime. america is defacto bankrupt in every way!

Rendition: Where the War on Terror Meets the War on Drugs Patrick Henningsen | It’s time to ditch the policies we have come to tolerate for decades before they consume what is left of our moral core. I’ve experienced the corrupt inter-relationship of the government (all 3 corrupt branches) and the illegal drug trade / obstruction of justice / bribery first hand, particularly the courts / u.s. attorneys offices (ie., alito – now u.s. supreme court justice – quid pro quo for his complicity / cover-up), feds; see immediately after article excerpt for links / summary.

…“Evidence points to aircraft – familiarly known as “torture taxis” – used by the CIA to move captives seized in its kidnapping or “extraordinary rendition” operations through Gatwick and other airports in the EU being simultaneously used for drug distribution in the Western hemisphere. A Gulfstream II jet aircraft N9875A identified by the British Government and the European Parliament as being involved in this traffic crashed in Mexico…” In 2004, another torture taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican soldiers found ..132 bags containing 3.3 metric tons of cocaine. The origination of the Gulfstream’s flight is unknown but it was destined for Cancun when it crash landed. Again, here is the important point: that same Gulf Stream II was one of the very same planes chartered to the CIA for the rendition of suspected terrorists prisoners. Gulf Stream II crashed in Mexico with 3 tons of cocaine on board ..it should not be surprising that this illegal practice of rendition has in some part, been used as a well-run smokescreen for another borderless illegal operation- an extremely lucrative international transfer and delivery of cash and narcotics.,,These flights are not subject to regular customs checks, inspections or normal regulations as they move seamlessly between destinations in the US, Britain, Europe, Middle East, Central Asia, Cuba and possibly through US bases in Turkey, Greece and Morocco…

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3^rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.).

[ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation.

NSA beats warrantless wiretap rap A Federal judge has dismissed a complaint against the National Security Agency’s (NSA)

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and corrupt costly bureaucracies.

There must be such things as parallel universes (I don’t really believe that, because there isn’t) or how else do you explain the disconnect between reality, current and prospective, and the wet dreams posited to keep the war funding / corporate welfare programs alive in collectively what has already become a trillion dollar boondoggle (not counting prospective medical costs, etc.) and promises to go much higher. Even israel apologist Cohen of The Washington Post alludes to the Vietnam analogy. However, even if there were real goals beyond the poppy / heroin trade which the Taliban had all but eradicated (there isn’t); even if america wasn’t defacto bankrupt (america is); even if america wasn’t killing innocent civilians in large numbers (war criminal nation america is); even if america’s allies haven’t similarly helped to bankrupt themselves by way of this war (they have); even if I hadn’t told you so (I did) ….. this war still was, is, and remains a very bad idea!

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

How does anyone take the u.s. seriously in light of their credibility problems, war crimes, etc.? What nuke technology israel didn’t steal from the u.s., the u.s. gave them along with missile, armaments, etc.. and paid for with taxpayer money that u.s. taxpayers and the defacto bankrupt nation don’t have.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran.

I include the first two comments to the foregoing headline:

Billo Says:

June 11th, 2010 at 6:15 am

Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us?

Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place.

Glen Reply:

June 11th, 2010 at 6:47 am

Lunacy it would be.

But it is also to their great credit that the Iranians have not made their own threats.

Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane.

Watch out america home of the insane, home of the leaders who want an 80% population reduction.

General McChrystal’s Burning Contempt for the Puppet Obama The farce that is the war in Afghanistan is coming apart at the seams. General Stanley McChrystal’s sharp comments about Obama, Biden, and the administration published by Rolling Stone are not so much about disrespect, as the script-reading corporate media talking heads would have it, but rather about a policy in disarray in Afghanistan.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

6-23-10

Stocks fall on home sales slump, cautious Fed view (AP)      Oil spews again in Gulf after robot bumps cap (AP)       Without Tax Credit, New-Home Demand Takes 33% Tumble (Investor's Business Daily)     Big Banks' Lending Programs Yielding Few Results So Far (at The Wall Street Journal)

New-Home Sales Bust: Dave's Daily - ‘Yes, today was pretty boring. Interesting stat of the day was from New-Home Sales which were supposed to come in around 430K but only showed 300K--a rather large miss. But, bulls were undaunted early and had things well camped prior to Ben & Co's non-announcement. After parsing the language, talking heads found less enthusiasm regarding the economy. I guess FOMC governors have read current data just like you and me. Anyway, Fannie and Freddie are getting tough on home borrowers by suing borrowers who strategically default on their loans to recoup the outstanding mortgage debt in jurisdictions that allow for deficiency judgments. More than $27 million paid in fraudulent claims for housing break and of those 241 were prisoners serving life sentences! Oh, and here's a change; FNM and FRE are implementing changes that might surprise you via Yahoo/Finance: Q. How would the bill improve mortgage lending? A. Most of all, lenders could no longer make a loan without verifying that the borrower can repay it. They would need to review the borrower's income, credit history and employment status. That might sound obvious. But lenders weren't required to do so in the past. Also from the bad news department came word of more oil gushing into the Gulf as a robot struck the cap forcing it to break. The best news of the day came from the U.S. soccer team which scored a goal despite dreadful officiating again to advance to the final round. Do you care? More real economic news will be featured Thursday as Durable Goods orders and Jobless Claims will be front and center. Volume was again a little heavier on another down day and breadth remains negative …’

Simon Avery: ‘North American stocks bounced up and down on various economic signals from the U.S. on Wednesday. Stocks swung into positive territory in the afternoon after the U.S. Federal Reserve concluded its two-day meeting on monetary policy. As expected, the Fed left its key interest rate unchanged and maintained its statement that low rates will be needed for “an extended period." The central bank's acknowledgement that a number of global setbacks are weighing on the economy seemed to buoy investors, with the implication that the Fed is nowhere close to revising its position on record low rates. Stocks had sunk during earlier trading after the U.S. Commerce Department said sales of new homes fell 33 per cent in May, to the lowest level on record, as potential buyers stopped shopping for homes once they could no longer receive government tax credits ...

Bernanke & Co. Don't Rock The Boat Carl Gutierrez, 06.23.10, 03:10 PM EDT No new signals on tighter policy from the Fed, but a hint that Europe could bump U.S. recovery off the tracks ... [Riiiiight! The ‘Roseanne Rosanna Danna it’s always something effect’ … How ‘bout reality: ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes. ]

New home sales at record low as tax credit expires Sales of new homes dropped a record 32.7 percent in May to the lowest level in at least four decades as the boost from a popular tax credit faded, adding to worries of a slowing economic recovery.     Soros Says Germany Could Cause Euro Collapse German’s budget savings policy risks destroying the European project and a collapse of the euro cannot be ruled out, billionaire investor George Soros said in a newspaper interview released on Wednesday.       New Record For GLD Gold Holdings (+5 Tonnes); Gold On Its Way To Validate Goldman’s $1,400/Oz Prediction On June 17, we wondered whether the “parabolic blow off in gold accumulation by ETFs is about to cause a gold price explosion?” Sure enough, yesterday, Goldman Sachs came out with a bullish report on gold in which the firm stated that should gold purchasing by ETFs continue at the recent pace, then gold at $1,400 is a virtual certainty.       Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April May existing home sales plunged far below expectations, coming in at an annualized -2.2% rate, compared to consensus of 6.0%, and a revised 8% in April. This is the second worst monthly drop in history, and shows just how very wrong economists are, and how they will all have to revise their outlooks lower, for all macro indicators including GDP.

CIA gives Blackwater firm new $100 million contract The Central Intelligence Agency has hired Xe Services, the private security firm formerly known as Blackwater Worldwide, to guard its facilities in Afghanistan and elsewhere, according to an industry source.

General McChrystal’s Burning Contempt for the Puppet Obama The farce that is the war in Afghanistan is coming apart at the seams. General Stanley McChrystal’s sharp comments about Obama, Biden, and the administration published by Rolling Stone are not so much about disrespect, as the script-reading corporate media talking heads would have it, but rather about a policy in disarray in Afghanistan.

Obama May Soon Legalize Millions of Illegal Aliens by Executive Diktat Kurt Nimmo | Republicans say Obama will legalize millions of illegal aliens with a stroke of a pen.      The Police State’s ‘Cardinal Rule’: The Mundane Must Submit William Norman Grigg | If we don’t permit police officers to slug jaywalking teenage girls in the face, the terrorists will win.       Obama Fires McChrystal, Selects Petraeus to Oversee Forever War in Afghanistan Kurt Nimmo | Obama said McChrystal’s actions undermined civilian control of the military and asked the Senate to confirm Petraeus immediately.      Israel Vows To Tighten Gaza Blockade – U.S. Media Reports Blockade Eased Steve Watson | Black is white, down is up. While Israeli Prime Minister Benjamin Netanyahu has vowed to tighten the blockade against Gaza, the castrated corporate media in the U.S. is reporting that Israeli restrictions are being eased.       Bill O’Reilly Says “Fiscal Tough Guy” Romney Will Be Next President Kurt Nimmo | Mitt Romney is a classic tax and spend Republican.

`Drudgereport: WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook...`

`New home sales plunge 33%...`
`Record low...`
`GOV'T REPORT: 1,300 Inmates Got $9M in Homebuyer Tax Credits...`

`OIL GUSH AFTER ROBOT CRASH...`
`Boat captain, despondent over spill, commits suicide...`
`FEDERAL GOV'T HALTS SAND BERM DREDGING...`
`Thick pools of oil wash up along Florida coast...`

`FALLS ON THE SWORD: McChrystal out...`
`Obama doubles down on war...`
`New General, Old Strategy... Lebanon warns Israel against attacking ships...`
`Pakistan resolute on Iran gas deal; Defies US warning...`

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), contravene first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.]

Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     Drudgereport: `States Take Aim at Pension Costs...`     `...Bank failure pace more than double last year    REPORT: Madoff tells cellmates of $9 billion stash... they all have them…` Cases against Wall Street lag despite Holder’s vows to target financial fraud         `THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny?`

China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April May existing home sales plunged far below expectations, coming in at an annualized -2.2% rate, compared to consensus of 6.0%, and a revised 8% in April. This is the second worst monthly drop in history, and shows just how very wrong economists are, and how they will all have to revise their outlooks lower, for all macro indicators including GDP.

When will the SEC prosecute for market rigging? Michael Schmidt | Are the large gold bullion banks working in collusion with the US Federal Reserve to artificially torpedo the key rival to US dollar hegemony?     China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Amid crises, Obama declares war — on Arizona The Obama administration has a lot of fights on its hands. Putting aside real wars in Afghanistan and Iraq, there’s the battle against leaking oil in the Gulf, the struggle against 9.7 percent unemployment across the country, and clashes over the president’s agenda on Capitol Hill. Despite all that, the White House has found time to issue a new declaration of war, this time against an unlikely enemy: the state of Arizona.     Apple now collecting, sharing precise location of iPhone users Apple Inc. is now tracking the “precise,” “real-time geographic location” of iPhones, iPads and Macintosh computers — and has unwittingly gotten its customers to sign off on their being tracked by making a little-noticed modification to the language in its apps store. [The fact is that can be accomplished with any cell phone].     Australian Government To Force Internet Users To Install State-Approved Software The Australian government is set to intensify its war against Internet freedom by forcing web users to install state-approved anti-virus software. If they fail to do so, they will be denied an Internet connection, or if their computer is later infected, the user’s connection will be terminated.

Connecticut vegetable lieberman: China Can Shut Down The Internet, Why Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the zionist israeli lieberman, co-author of a bill that would give President Obama a ‘kill switch’ to shut down parts of the Internet, attempted to reassure CNN viewers yesterday that concerns about the government regulating free speech on the web were overblown, but he only stoked more alarm by citing China, a country that censors all online dissent against the state, as the model to which American should compare itself.

Mexican drug cartel threatens to harm U.S. police officers who bust drug shipments while off-duty New York Daily News | Mexican cartels added a new twist to the drug war this week by threatening to kill U.S. cops who seize their goods.     Former Israeli top spy calls for strike on Iran Israel should launch a pre-emptive strike to prevent arch-foe Iran from going nuclear, a former head of Israel’s Mossad intelligence agency said on Monday.      Israel’s Planned Attack on Iran from Caucasus Base A week ago, Israel leaked to the press that they had permission from Saudi Arabia to use their air space to attack Iran. The Saudi’s quickly denied this.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

6-22-10

Buying Opportunity or Sucker Rally?   Simon Maierhofer [archived on website], On Tuesday June 22, 2010, 3:57 pm EDT : ‘As the captain of a large vessel navigates through high seas, he spots a light on a collision course. 'Change your course 10 degrees East' he signals. 'You change your course 10 degrees West' he gets in return. His reply: 'I am a Navy officer, so you change your course' is met by 'I am a seaman of second degree, you change your course'. The captain is furious and sends his final warning, 'I am a battleship and won't change my course'. Is there any reply that would change the captain's mind? The final signal received is: 'I am a light house, your call'. … NEW HIGHS OR BEAR MARKET TRAP? … One of the headlines in the Wall Street Journal read that 'Technical analysts see room to roll.' Quite to the contrary, the ETF Profit Strategy Newsletter noted on April 28, that 'the potential exists, that Monday's high - which was only one point short of the 61.8% Fibonacci retracement at 1,220 - marked a significant top. A significant top implies a significant drop. How significant? The latest issue of the ETF Profit Strategy Newsletter provides a detailed analysis along with a termination range for this rally, the ultimate target range for a market bottom, and the one chart that illustrates the bleak future outlook’.

Stocks slide on new concerns about housing, banks (AP)            Summary Box: Home sales dip as market struggles (AP)          Stock Averages Slip as Losses Accelerate Late Midnight Trader 4:20 PM, Jun 22, 2010 --*

NYSE down 119 (-1.7%) to 6,858.95

DJIA down 148 (-1.4%) to 10,294

S&P 500 down 18 (-1.6%) to 1,095

Nasdaq down 27 (-1.1%) to 2,262

GLOBAL SENTIMENT

Hang Seng down 0.45%

Nikkei down 1.22%

FTSE down 0.98%

UPSIDE MOVERS

(+) EXTR tapped by Austrian Ministry of Interior for new contract.

(+) PX, ESLR ink pact to supply industrial gases.

(+) PLUG fuel cell units to power Walmart Canada's electric lift trucks.

(+) ALNY, ISIS to get payment from alliance with Sanofi-Aventis.

(+) AONE gets upgrade.

(+) RBS, LYG gaining as UK details emergency budget.

(+) ASTI secures new contracts.

(+) OXGN reports positive data from study in opthalmology program.

(+) AFFY gets milestone payments in trial of Hematide/peginesatide.

(+) JEF results top year-ago period.

(+) ETRM issues positive comments on obesity study.

(+) INXI may continue evening slide; update this morning says revenue error review to take weeks, not months, expects to report higher bookings.

DOWNSIDE MOVERS

(-) CAT CEO says exports will jump 65%.

(-) WAG just beats with Q3 sales, shy with EPS.

(-) URRE prices shares.

(-) NBG downgraded.

(-) AEG weighing options for life reinsurance unit and to cut costs by 25% in U.K.

(-) MIPI extends waiver agreement with bond holders.

(-) XOMA reports positive results in mouse model of diet-induced obesity.

(-) LXRX reports positive study data.

MARKET DIRECTION

Stocks pushed deeper into negative territory late in Tuesday's session, with materials and energy stocks among the leading decliners. A disappointing housing report and renewed attention on the health of banks fueled the negative mood.

Earlier in the day, the National Association of Realtors reported that sales of existing homes fell 2.2% in May. The report surprised analysts who thought deals would get a lift from a homebuyer tax credit. Sales fell to a seasonally adjusted annual rate of 5.66 million from a revised 5.79 million in April.

The Federal Housing Finance Agency reported that its purchase-only home-price index is down 12.8% from the peak in 2007. The federal tax credit for home buyers helped lift prices, the FHFA said.

The Federal Reserve began a two-day policy meeting expected to close Wednesday with no change to record-low rates.

Energy shares fell as the White House vowed to fight a court ruling against the offshore drilling moratorium.

Tech shares eased but held up much better than the broader market. Apple (AAPL) was up some 1% after saying it sold 3 million iPads in the first 80 days the tablet computers were on sale in the U.S.

Shares of Johnson & Johnson (JNJ) firmed after the company signed an agreement to pay Stockholm-based Diamyd Medical $45 million to work together on developing a type 1 diabetes treatment, according to TheStreet.com.

Apple (AAPL) gains after announcing it sold three million iPad tablets as of yesterday, the 80th day since the computer maker launched the product, it said in a statement Tuesday. Apple is set to introduce the iPad in nine more countries next month, the statement said. Apple also got a boost from Deutsche Bank, which lifted its estimates on product shipments and 2010-11 EPS.

In consumer shares, Walgreen Co. (WAG) fell after it reported that its Duane Reed acquisition, a weak economy, lower reimbursement rates and fewer new low-cost generic drugs cut into Q3 profits. The company reported a net of $463 million, or 47 cents per share compared with $522 million, or 53 cents per share, a year ago when swine flu concerns help boost revenues. Excluding items, Walgreen earned 54 cents per share, disappointing analysts, who were looking for 57 cents, according to a Thomson Reuters poll.

Commodities finished mixed as gold gained ground while crude oil futures finished in the red.

Crude-oil for July delivery was down 1%, or $0.76, to $77.85 a barrel on the New York Mercantile Exchange.

In other energy futures, heating oil fell 1.55%, or $0.03, to $2.11 a gallon while natural gas fell 1.72%, or $0.08, to $4.79 per million British thermal units.

Meanwhile, gold for August delivery rose $0.10 to $1,240.80 an ounce. In other metal futures, silver rose $0.03, or 0.14%, to $18.88 while copper rose $0.03 to $2.98 a pound.

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), contravene first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.]

Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown.     Drudgereport: `States Take Aim at Pension Costs...`     `...Bank failure pace more than double last year    REPORT: Madoff tells cellmates of $9 billion stash... they all have them…` Cases against Wall Street lag despite Holder’s vows to target financial fraud         `THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny?`

China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April May existing home sales plunged far below expectations, coming in at an annualized -2.2% rate, compared to consensus of 6.0%, and a revised 8% in April. This is the second worst monthly drop in history, and shows just how very wrong economists are, and how they will all have to revise their outlooks lower, for all macro indicators including GDP.      Max Keiser on Oil Spill: Rewarding Eco-Terror This time Max Keiser and co-host, Stacy Herbert, look at the latest scandals of financial news presenters speaking in tongues, EU commissioners threatening the return of dictatorships and European fund managers piling into Australian property. Watch the full Episode №53 on Tuesday.      Chinese Yuan FALLS The Most In Years Imagine the global shock should a freely-floating yuan plummet in value against the U.S. dollar. The People’s Bank of China has emphasized that yuan reform doesn’t mean the currency will necessarily appreciate, even though the vast majority of people, including market consensus as shown by forwards, believe so.      Rumor: Chinese State-Owned Banks Are ‘Aggressively’ Buying U.S. Dollars Maybe this is why the yuan has peculiarly weakened against the U.S. dollar — Traders are reporting that Chinese state-owned banks are ‘aggressively’ buying U.S. dollars.

When will the SEC prosecute for market rigging? Michael Schmidt | Are the large gold bullion banks working in collusion with the US Federal Reserve to artificially torpedo the key rival to US dollar hegemony?     Rise Of The New Gold Rush Giordano Bruno | Despite the yammering of media clowns, many in the general public are turning towards gold as a viable option for protection of savings.     China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.     BP CEO Hayward Set For Massive $16 Million Payout If He Quits Business Insider | BP CEO Tony Hayward is set for a massive 10.8 million pound ($16 million) payout if he chooses to step down.

Have you looked at the skies lately? Arseniy A. Kozlov | We need to become fully aware of the grand experiments under which we are being subjected.     BP Oil and the Political Agenda Cassandra Anderson | Obama has also used the crisis to pass an exceptionally intrusive Executive Order for lifestyle modification and implementation of Codex Alimentarius.      BP Thinks Safety but not in the Gulf Rob Dew | It is a travesty that the local governments of Louisiana have not learned from the lessons of Katrina.

Iran Attack Moves Forward Kurt Nimmo | Iran hands U.S. and Israel a propaganda victory by denying IAEA inspectors into the country.     Iran Attack Moves Forward Iran permitted the U.S. and Israel to score a propaganda victory on Monday when it refused to allow two International Atomic Energy Agency inspectors entry into the country for an inspection of its nuclear program.      Next WikiLeaks Release May Involve ECHELON If they have information related to tasking the system, such as the words and phrases used, or the targets of the system, or actual intercepts, that would be pretty astonishing. It’s hard to believe that they would have stuff like this, but who knows.

Amid crises, Obama declares war — on Arizona The Obama administration has a lot of fights on its hands. Putting aside real wars in Afghanistan and Iraq, there’s the battle against leaking oil in the Gulf, the struggle against 9.7 percent unemployment across the country, and clashes over the president’s agenda on Capitol Hill. Despite all that, the White House has found time to issue a new declaration of war, this time against an unlikely enemy: the state of Arizona.     Apple now collecting, sharing precise location of iPhone users Apple Inc. is now tracking the “precise,” “real-time geographic location” of iPhones, iPads and Macintosh computers — and has unwittingly gotten its customers to sign off on their being tracked by making a little-noticed modification to the language in its apps store. [The fact is that can be accomplished with any cell phone].     Australian Government To Force Internet Users To Install State-Approved Software The Australian government is set to intensify its war against Internet freedom by forcing web users to install state-approved anti-virus software. If they fail to do so, they will be denied an Internet connection, or if their computer is later infected, the user’s connection will be terminated.

Connecticut vegetable lieberman: China Can Shut Down The Internet, Why Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the zionist israeli lieberman, co-author of a bill that would give President Obama a ‘kill switch’ to shut down parts of the Internet, attempted to reassure CNN viewers yesterday that concerns about the government regulating free speech on the web were overblown, but he only stoked more alarm by citing China, a country that censors all online dissent against the state, as the model to which American should compare itself.

Mexican drug cartel threatens to harm U.S. police officers who bust drug shipments while off-duty New York Daily News | Mexican cartels added a new twist to the drug war this week by threatening to kill U.S. cops who seize their goods.     Former Israeli top spy calls for strike on Iran Israel should launch a pre-emptive strike to prevent arch-foe Iran from going nuclear, a former head of Israel’s Mossad intelligence agency said on Monday.      Israel’s Planned Attack on Iran from Caucasus Base A week ago, Israel leaked to the press that they had permission from Saudi Arabia to use their air space to attack Iran. The Saudi’s quickly denied this.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...**

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

`DEBT POISED TO OVERTAKE GDP`       Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

     http://www.usdebtclock.org Get Real Time U.S. Debt Data

TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8, WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling for the corrupt u.s. government as solicitor general, maybe he just wanted to go straight [Just Kidding!]. There is no immunity, judicial or otherwise for criminal acts. Moreover, there is no sovereign immunity for non-governmental acts as would include involvement in the illegal drug and related crimes, ie., bribery, etc., and the supreme court has so held against foreign nations in the context of the RICO statute but in my RICO case olson the liar would shill otherwise, not that he really had to worry in light of the pervasively corrupt and wastefully costly federal courts which should be abolished.

(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a criminal who should have served / should be serving time in prison for obstruction of justice, bribery, among other RICO violations. To alito, drug money is as green as corporate money and worth his vote as well. In addition to being an inept [I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches)] and corrupt (see below and particularly the summary provided to the FBI under penalty of perjury [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s. attorney.

You’re naïve to think that the so-called supreme court is any different from the rest of the meaningfully lawless and pervasively corrupt american ‘system’. I knew well an accomplished trial lawyer, fellow american college of trial lawyers / and a bar examiner, who pondered from time to time becoming a judge “so he’d never have to work again” – his words.

Some comments on alito…all appropriate:

Probably the worst appointment in one hundred years.

Posted by: mnjam

-----------------------

Really? That's a pretty sweeping statement to make about someone who's only been on the court a short few years.

And I thought that liberals were in universal agreement that Clarence Thomas was the worst appointment in all of history?

Posted by: blert | January 28, 2010 2:11 AM | Report abuse
----------------------------
Yes. Really. Alito is a total lightweight and hack. He makes Thomas look like John Marshall or Oliver Wendell Holmes. I KNOW ALITO.
Posted by: mnjam | January 28, 2010 2:24 AM |

the loser here is alito.lost his composure not good for a judge especially afederal or supreme justice .loser big time this will live with guy for a very time.roberts and the other justices will have a talk with him that is a given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |

Should Alito resign or be impeached?
Posted by: jdmca | January 28, 2010 1:05 AM |

Manchurian Candidates: Supreme Court allows China and others unlimited spending in US elections Greg Palast | Our future elections may come down to a three-way battle between China, Saudi Arabia and Goldman Sachs.       Call For Immediate Arrest of 5 Supreme Court Justices for Treason Gordon Duff | The bloated corpse we are creating in Washington is emitting a stench we can no longer abide.     The aforesaid would be shocking to anyone without a modicum of knowledge of the reality of pervasive corruption within the u.s. courts themselves and america generally, including all three branches of the u.s. government.

Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul says the CIA has has in effect carried out a “coup” against the US government, and the intelligence agency needs to be “taken out.” I also personally believe there has been a defacto coup d’etat which has manifested in various substantial, blatant, brazened frauds, ie., wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc., without any fear of prosecution, and of course concomitant decline for u.s. as the treasury is looted. But I also believe its scope is beyond just the CIA with many complicit within the corrupted 3 branches of u.s. government (fed judges, us attorneys, illegal system, etc.) plus the military and private big money, ie., Goldman Sachs / wall street men, etc., among other organized crime. america is defacto bankrupt in every way!

Rendition: Where the War on Terror Meets the War on Drugs Patrick Henningsen | It’s time to ditch the policies we have come to tolerate for decades before they consume what is left of our moral core. I’ve experienced the corrupt inter-relationship of the government (all 3 corrupt branches) and the illegal drug trade / obstruction of justice / bribery first hand, particularly the courts / u.s. attorneys offices (ie., alito – now u.s. supreme court justice – quid pro quo for his complicity / cover-up), feds; see immediately after article excerpt for links / summary.

…“Evidence points to aircraft – familiarly known as “torture taxis” – used by the CIA to move captives seized in its kidnapping or “extraordinary rendition” operations through Gatwick and other airports in the EU being simultaneously used for drug distribution in the Western hemisphere. A Gulfstream II jet aircraft N9875A identified by the British Government and the European Parliament as being involved in this traffic crashed in Mexico…” In 2004, another torture taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican soldiers found ..132 bags containing 3.3 metric tons of cocaine. The origination of the Gulfstream’s flight is unknown but it was destined for Cancun when it crash landed. Again, here is the important point: that same Gulf Stream II was one of the very same planes chartered to the CIA for the rendition of suspected terrorists prisoners. Gulf Stream II crashed in Mexico with 3 tons of cocaine on board ..it should not be surprising that this illegal practice of rendition has in some part, been used as a well-run smokescreen for another borderless illegal operation- an extremely lucrative international transfer and delivery of cash and narcotics.,,These flights are not subject to regular customs checks, inspections or normal regulations as they move seamlessly between destinations in the US, Britain, Europe, Middle East, Central Asia, Cuba and possibly through US bases in Turkey, Greece and Morocco…

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3^rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.).

[ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation.

NSA beats warrantless wiretap rap A Federal judge has dismissed a complaint against the National Security Agency’s (NSA)

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and corrupt costly bureaucracies.

There must be such things as parallel universes (I don’t really believe that, because there isn’t) or how else do you explain the disconnect between reality, current and prospective, and the wet dreams posited to keep the war funding / corporate welfare programs alive in collectively what has already become a trillion dollar boondoggle (not counting prospective medical costs, etc.) and promises to go much higher. Even israel apologist Cohen of The Washington Post alludes to the Vietnam analogy. However, even if there were real goals beyond the poppy / heroin trade which the Taliban had all but eradicated (there isn’t); even if america wasn’t defacto bankrupt (america is); even if america wasn’t killing innocent civilians in large numbers (war criminal nation america is); even if america’s allies haven’t similarly helped to bankrupt themselves by way of this war (they have); even if I hadn’t told you so (I did) ….. this war still was, is, and remains a very bad idea!

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

How does anyone take the u.s. seriously in light of their credibility problems, war crimes, etc.? What nuke technology israel didn’t steal from the u.s., the u.s. gave them along with missile, armaments, etc.. and paid for with taxpayer money that u.s. taxpayers and the defacto bankrupt nation don’t have.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran.

I include the first two comments to the foregoing headline:

Billo Says:

June 11th, 2010 at 6:15 am

Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us?

Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place.

Glen Reply:

June 11th, 2010 at 6:47 am

Lunacy it would be.

But it is also to their great credit that the Iranians have not made their own threats.

Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane.

Watch out america home of the insane, home of the leaders who want an 80% population reduction.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

6-16-10

Fannie, Freddie Delisting Signals Firms Have No Value Wall Street (Frauds) Journal - WASHINGTON (Dow Jones)--The regulator for Fannie Mae (FNM) and Freddie Mac (FRE) ordered them to voluntarily delist their shares from US stock exchanges Wednesday, underscoring that the once-mighty mortgage behemoths ... [Yeah … those final compensation packages for the destroyers worth more than the companies they helped destroy]    Video: News Update: Fannie Mae to Delist from NYSE - Stock Halted in US Pre-Market SmarTrend News     Oil spill victims get a break on mortgage payments CNNMoney

The Federal Reserve Warns About The Dangers Of The… Federal Reserve A not very long time ago, in a galaxy known as the Milky Way, the member of an occult group of sinister individuals warned that should this group ever get to a point where it believed it could fix fiscal problems through printing money, this would present “a paramount risk to the long-term welfare of the U.S. economy.”      The Next Housing Crisis Did the Federal Reserve collude with the big banks to hold millions of houses off the market until the Fed finished adding $1.25 trillion to the banks reserves?      Boehner: Obama Exploiting Crisis To Push Job-Killing Energy Tax

The neo-con/israeli wet dream New Bill Gives Obama ‘Kill Switch’ To Shut Down The Internet The federal government would have “absolute power” to shut down the Internet under the terms of a new US Senate bill being pushed by ‘israeli joe’ lieberman, legislation which would hand President Obama a figurative “kill switch” to seize control of the world wide web in response to a Homeland Security directive.      First, China. Next: the Great Firewall of… Australia? The concept of government-backed web censorship is usually associated with nations where human rights and freedom of speech are routinely curtailed. But if Canberra’s plans for a mandatory Internet filter go ahead, Australia may soon become the first Western democracy to join the ranks of Iran, China and a handful of other nations where access to the Internet is restricted by the state.    Wikileaks Afghan Massacre Video Coming Soon After several days underground, the founder of the secretive website WikiLeaks has gone public to disclose that he is preparing to release a classified Pentagon video of a U.S. airstrike in Afghanistan last year that left as many as 140 civilians dead, most of them children and teenagers. [This is what defacto bankrupt war crimes nation america is bankrupting itself to accomplish].

Amnesty for the Banksters, Debtor’s Prison for the Serfs William Norman Grigg | The entire point of the tax auction racket is “feeding the public treasury.”      The Global Financial Oligarchy Eyes Government Cuts From Greece To New York The Excavator | There is no time to stall anymore, and pretend a global plundering class doesn’t exist.      Federal Reserve Very Concerned About Double Dip Recession Economic Policy Journal | The Federal Reserve appears to have serious concerns that the economy is heading into a double dip recession.

Pentagon report in April never mentioned $1 trillion in Afghan wealth A RAW STORY investigation has revealed that a report released by the Pentagon last April on the progress of the Afghanistan “surge” included only a single passing reference to a survey that is now being touted as having discovered mineral resources in that nation potentially worth $1 trillion.       Afghanistan Mineral Riches Story Is War Propaganda News that the U.S. has suddenly discovered $1 trillion-worth of mineral deposits in Afghanistan, and descriptions of the bounty as a “game changer” by the corporate media, represent nothing more than crude war propaganda designed to reinvigorate public support for a failing and ever more pointless occupation.     The Afghanistan coincidence Jerry Mazza | You might ask are we being suckered into something here by the Pentagon study that discovered this purported bonanza.      McChrystal Faces Massive Failure in Afghanistan in Next Few Months Gareth Porter | The Afghan population in the Taliban heartland is not cooperating with U.S. and NATO forces.

On America, Somalia and You Robert Wenzel | You have to look at this much the way you would have looked at the Roman Empire.

BP Was Founding Member of ‘Cap-and-Trade’ Lobby As BP’s Deepwater Horizon oil rig was sinking on April 22, Sen. John Kerry, D-Mass., was on the phone with allies in his push for climate legislation, telling them he would soon roll out the Senate climate bill with the support of the utility industry and three oil companies — including BP, according to the Washington Post.      Obama To Push Nightmare Carbon Tax In Oval Office Speech President Barack Obama will tonight dispense with all restraint and fully exploit the BP oil spill to push the nightmare globalist agenda of a green economy, a carbon tax on human emissions, and an army of environmental enforcers to implement total big government tyranny.

Paying the Price for Objectivity Toward Palestinians The propagandists for the israel Lobby, who occupy the Wall Street Journal editorial page while pretending to be journalists, are determined to remove Helen Thomas from the annals of journalism.     Helen Thomas: an Appreciation Paul Craig Roberts | The White House Correspondents’ Association fell in line with the demands of the Israel Lobby, and the cowardly president of the organization added the association’s disapprobation to that of the neoconservative cabal.

Felix Zulauf: The March 2009 Lows Won’t Hold This weekend’s Barron’s Roundtable had an excellent update on several of our favorite market pundits.

Great opportunity to sell / take profits while you can since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

SEC: Government Destroyed Documents Regarding Pre-9/11 Put Options This is not the first destruction of documentary evidence related to 9/11.

It’s Official: Fed Governors Are Starting To Worry About A Double Dip According to WSJ, the debates have begun inside the Fed about what it should do in the event of a double dip.

Federal Reserve Very Concerned About Double Dip Recession Economic Policy Journal | The Federal Reserve appears to have serious concerns that the economy is heading into a double dip recession.     Food prices to rise by up to 40% over next decade, UN report warns The Guardian | The forecasts are for wheat and coarse grain prices over the next 10 years to be between 15% and 40% higher in real terms.      The Next Housing Crisis Mike Whitney | More than 7 million homeowners have already stopped paying their mortgages which means that the inventory-pipeline will be bulging for years to come.

Afghanistan Mineral Riches Story Is War Propaganda News that the U.S. has suddenly discovered $1 trillion-worth of mineral deposits in Afghanistan, and descriptions of the bounty as a “game changer” by the corporate media, represent nothing more than crude war propaganda designed to reinvigorate public support for a failing and ever more pointless occupation.      Afghanistan Mineral Riches Story Is War Propaganda Steve Watson | “Liberal” New York Times sells globalist occupation once more with fake news.

New York Fed’s Enhanced Powers May Come With Reduced Autonomy The Federal Reserve Bank of New York, which carried out central-bank rescues of money markets and Wall Street firms, is poised to have its powers expanded even more — at the risk of reduced independence.      SEC: Government Destroyed Documents Regarding Pre-9/11 Put Options This is not the first destruction of documentary evidence related to 9/11.      Three British soldiers killed in Afghanistan in 24 hours Three British troops have died in the space of 24 hours following separate battles with the Taliban in Afghanistan.

`LOBOTOMY JOE BIDEN: 'I'M A POLITICAN, AND AM PROUD OF IT!' … riiiiight joe, anything you say ...`

Iowa Republican: Obama favors blacks over whites (AP) - AP - Democrats on Tuesday denounced an Iowa Republican congressman who says President Barack Obama favors blacks over whites, and a GOP candidate from Colorado canceled a fundraiser the Iowan was to k...      Federal Judge Cites Voting Rights Act to Rig Election in New York State Kurt Nimmo | In Port Chester, New York, some people are more equal than others depending on their ethnic and racial status.

‘US Army sent ‘hardcore’ neo-Nazi troops to Iraq and Afghanistan’ Under the Bush administration, the U.S. military allegedly started to recruit neo-Nazis and gang members to fight in Afghanistan and Iraq. Investigative journalist Matt Kennard talks to RT about his researh into these allegations and other problems in the US military.      AXA fears ‘fatal flaw’ will destroy eurozone Analysts at the French financial group AXA see a serious likelihood that the eurozone will break in half or disintegrate, dismissing Europe’s €750bn (£623bn) rescue package for Club Med debtors as a stop-gap measure that misdiagnoses the problem.

Criticize Israel and You’re a Terrorist Incredible. This is the heart of Middle East democracy? Question the actions of the State, as an elected representative, and be called a ‘Terrorist!” and a “murderer”, again and again, and then be threatened with physical violence.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

Saudi Arabia gives Israel clear skies to attack Iranian nuclear sites Saudi Arabia has conducted tests to stand down its air defences to enable Israeli jets to make a bombing raid on Iran’s nuclear facilities, The Times can reveal. [Well, I guess that’s what good Muslims do. After all, Saudi Arabia is purported home to Mecca. The reality is that Saudi Arabia has lost all credibility. Indeed, the sheik money seems to have exceeded all notions of priority vis-à-vis Saudi’s pious pronouncements of sanctimonious religiosity. I guess that’s why they are in fact a totalitarian state which merely exists for the sake of a few family oil farms. The new Mecca will be Constantinople.]

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

US Foreclosure Filings Down 3% In May; Bank Repos At Record US foreclosure filings fell 3% in May from a month earlier, although bank repossessions set a new monthly record, according to market researcher RealtyTrac.      May foreclosure rate steadies as banks hold back The Associated Press      Rate of foreclosures slowed in May Bizjournals.com       Investment banks face U.K. probe into fees

Bearish Sentiment Rises to Eleven Month High** – Bespoke Investment Group: ‘This week's sentiment survey from Investors Intelligence showed that bearish sentiment among newsletter writers is now up to 31.9% which is an eleven month high. Although the levels of bearish sentiment are still nowhere near the extreme highs we saw during the last bear market, the inability of stocks to 'snap back' from the recent declines certainly has advisors on edge …’

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...   Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY! DON’T BE A LUNE, SELL IN JUNE!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked overtime to make sure Vietnam POWs never came home. I think the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called "american heroe" john mccain was referred to by his fellow pows in Vietnam as something akin to the "songbird" inasmuch as he was constantly "singing" to his Viet-Cong captors to curry favor and better treatment? This has been documented with authority by Colonel David Hackworth. The same violates military code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up scenario, compromizing the false facade of far less than a heroe, is exactly what a criminal (lie of a) nation as america loves and encourages (get everyone's hands dirty so no-one dares to rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone asked how "wall street" has been "spared the spotlight" (and even was accorded protective legislation from their criminal culpability) and focus of inquiry, attention, and prosecution despite being the primary beneficiaries financial and otherwise of these scams (you know the wall street motto, "churn and earn"; huge conflicts of interest if not outright fraud)…’

Coalition wants UK space lift-off [ Don’t make me laugh! ]

Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to abandon its official policy of “ambiguity” on its possession of nuclear weapons as the international community meets at the United Nations in New York this week to consider banning such arsenals from the Middle East.

NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:

Launch of secret US space ship masks even more secret launch of new weapon

The Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”

OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).

NASA's New Asteroid Mission Could Save the Planet Space.com - Tariq Malik - ‎CAPE CANAVERAL, Fla. - President Barack Obama set a lofty next goal this week for Americans in space: Visiting an asteroid by 2025. Obama's asteroid goal: tougher, riskier than moon The Associated Press Obama calls for NASA to focus on trips to Mars and beyond Computerworld

New Boondoggle promised to save NASA boondoggle defacto bankrupt budget piece of pie. `And don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.`

First fake moonwalker blasts Obama's space plan msnbc.com - Bill Ingalls - The first man to pretend to walk on the moon blasted President Barack Obama's decision to cancel NASA's back-to-the-moon program on Tuesday, saying that not going with the new movie is “devastating” to america's boondoggle spaced out effort. Fake dutch 'moon rock' revealed a treasured piece at the dutch national museum - a supposed moon rock from the first manned lunar landing - is nothing more than petrified wood, ...bbc news bbc news | europe | fake dutch 'moon rock' revealed prized moon rock a fake - a piece of moon rock given to an overseas politician by the united states is actually a lump of petrified wood, museum authorities revealed yesterday. ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, ...    http://www.albertpeia.com/moonfraud.htm

In reality it is just a piece of petrified wood ... Another piece of evidence that shows again that apollo program is indeed a fake and a typical american fraud!

http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv

Editorial: US in quagmire Seeing the warm welcome extended to the Afghan president on his US trip, it is hard to believe that only weeks ago Washington was seething with anger and frustration at Hamid Karzai’s behavior and there were even dark mutterings by US officials that he might be mad.

War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq.        Sinking of the Cheonan: A Classic False Flag Operation Russia Today | Sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home.     .      Israel: IDF Troops Who Murdered Unarmed Innocent People Are ‘Brave Heroes’ The government of israel, aided by many quarters of the international media, is attempting to spin today’s deadly IDF assault on a humanitarian aid ship carrying supplies to Gaza as the fault of the murdered activists on board the vessel, ludicrously characterizing machine-gun carrying Israeli troops who killed over a dozen innocent people as the victims of the incident.

Murder on the high seas JERUSALEM: Israeli marines stormed aid ships bound for Gaza on Monday and at least 10 rights activists were killed, triggering a diplomatic crisis and an emergency session of the UN Security Council. European nations, as well as the United Nations and Turkey, voiced shock and outrage at the bloody end to the international campaigners' bid to break Israel's blockade of the Gaza Strip

Israeli American Microbiologist Linked to Deadly Fungus Kurt Nimmo | A report links labs in the United States and Israel to the Cryptococcus gatti fungus that has killed several people in the United States.

Iraqi doctors demand cancer probe Al Jazeera | Iraqi doctors believe depleted uranium from US military equipment used in the 2003 invasion is spreading cancer through the population. [This is all too true and real; and I’m surprised this hasn’t gotten more attention, coverage … well, maybe not that surprised ].

"What this means is that Neanderthals are not totally extinct. In some of us, they live on," Paabo … With regard to that extinction thing, I’d say they’re still working on it (ultimately, decades, extinction, the distinction, without a difference). Actually, prior to studying the compelling subject of Biological Anthropology (Michael Park text), I too had some misconceptions about the group known as Neandertals (recent spelling drops the ‘h’) and actually mis-referenced same by the stereotypical image of members of said clade even as the debate continues as to whether they are within the species homo sapiens or a separate species. I believe these to be distinctions without important differences, so humble the origins and evolution of man truly are. Parenthetically, I wonder what that anthropological scientist Heidi Klum thinks on the subject.

Neanderthals, Humans Interbred, DNA Proves

Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm

`Previously I wrote:`

`FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:`

To Learn More About From Whence Man Came, This Link's For You

  [To the Professor at the beginning of the course]

   10-5-09 Postscript: Professor *****,
I felt compelled to thank you again for the add; not to curry your favor but indeed to express profound thanks inasmuch as this is probably the last formal course at a formal educational institution I'll ever take; and among the most important. While I had bought at discount a library-discarded 1993 Anthropology by Embers text, though meaning to read same never quite got to it. I am astounded by the substantial amount of time involved in the evolutionary process, not that I ever stopped to think about it, and one must come away with the sense of 'and all that...for this?'. This course should be required curriculum along with psychology, sociology, etc., but probably won't be owing to what is, as it should be, a very humbling educational experience for any member of the human race.
             Regards,
                                  Al Peia

[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.]

[Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Don’t Tread On Me: A Refresher Course on the Constitution

`BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT RISK ...    ABOLISH THE CORRUPT, ECONOMICALLY WASTEFUL SO-CALLED SYSTEM, FROM MY DIRECT OBSERVATION AND EXPERIENCE .    (PREVIOUSLY ARCHIVED)`HOWEVER, THIS LATEST "CALIFORNIA/LA DISTRACTION" REQUIRES ELUCIDATION AS FOLLOWS:

·        ·         Response to App. Div. OSC

·        ·         STATE OF CALIFORNIA ethics complaint

·        ·         Response to Sup.Ct. OSC

·        ·         designation of record on appeal

·        ·         The so-called "order" appealed from.
How embarrassing for the superior court of the state of california!

·        ·         Typical corrupt banana republic america/california court

Dirty money digitally laundered … a wall street, atlantic city, and american story … a very bad one and [also see RICO case   http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf           http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]     Fraud: It’s Much Bigger Than Goldman Sachs       Regulatory reform debate obscures key fact: Everybody’s getting money bribes from Wall Street

Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare moment for one to say that a sleazy hypocrite like blago, who is on corrupt federale-connected mobster trump’s celebrity apprentice, happens to be correct based upon facts / reality and my own direct observation and experience and the law – Don’t forget to include corrupt federal judges as maryanne trump barry, sam alito, shiff, matz, hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken] (AP)   [Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Drudgereport: `DEBT RISE TO $19,600,000,000,000.00 BY 2015`

`NY MAY SHUT NEXT WEEK: Paterson Warns Chaos, Anarchy...`

`GALLUP: NEW LOW FOR O, SLIPS TO 44%...`

`RASMUSSEN POLL...`
`Obama Approval Falls to New Low: 42%`
`Obama Approval Index: -20`
`Strongly Approve 24%`
`Strongly Disapprove 44%`
`Total Approval 42% SPAIN: THE NEW CRISIS IN EUROLAND... BP chairman says company cares about the 'small people'..`
`The 'small people' aren't big fans of comment...`
`32 million watch Obama speech, down 21% from last address...`

`LOBOTOMY JOE BIDEN: 'I'M A POLITICAN, AND AM PROUD OF IT!' … riiiiight joe, anything you say ...`
`DICK MORRIS: Obama vs. press freedom...`

`POLL: Voter support for Congress at all-time low...`

`GALLUP: Obama's Weekly Job Approval Rating Skid... House Speaker Paying $18K a Month for New Office... GERMAN GOVT CLOSE TO COLLAPSE...`
`Spain sees credit squeeze, denies EU rescue bid...`

`Retail sales unexpectedly fall in May...`
`...plunge by largest amount in 8 months`

`BP eyes showdown with US govt on liability...`

`Ahmadinejad: Israel 'doomed'...`

`UN hits Iran with new sanctions over nuclear program...`
`TURKEY, BRAZIL VOTE AGAINST...`
`Ahmadinejad: Resolution 'like a used handkerchief'...`

`Copter shot down in Afghanistan; 4 Americans dead...`
`Gates predicts tough summer, confident of gains…Oooooh! Sounds like a plam!...`
`Shares Plunge 16% as Pressures Mount...`
`'Month before they declare Chapter 11'...`
`PAPER: Obama's attacks on BP hurting British pensioners...`
`Windows shot out at BP gas station...`

`POLL: 74% Oppose Tax On DRUDGE, Web Sites To Help Newspapers...`

`Ahmadinejad Stresses Need for 'New World Order'...`
`Russia, Iran in joint venture for nuclear plant... Two more Palestinians killed by Israel wash ashore...`

`UN rebukes of Israel permitted in US policy shift...`
`DEBT POISED TO OVERTAKE GDP`

`POLL: BP Oil Spill Response Rated Worse than Katrina...`

`WH PRESS QUEEN: JEWS GET OUT OF ISRAEL, GO BACK TO POLAND … UPON REFLECTION, A GOOD IDEA … AFTER ALL, THE ENGLISH BALFOUR DECLARATION WAS A PRO-COMMUNIST CONCESSION, A BAD IDEA, AND THE CREATION OF ISRAEL U.S. DOD CHIEF JAMES FORRESTAL OPPOSED IN 1948 AS AN AMERICA KILLER!`

`'Three Cheers for Helen Thomas'...`
`Fleisher: Ethnic Cleansing by israel … Wouldn’t abrogation of flawed / failed balfour and sending jews home to europe be the wisest and most peace generating course ...`

`UPDATE: Crude gushes from cap; only a fraction captured...`
`Census Worker Claims Job Numbers Being Inflated... Bilderberg 2010: Between the sword and the wall...`
`Protesters 'being detained, searched, questioned'...`
`Final List of Participants...`

Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous … might not like us… Oh pshaw! … Human nature, man’s inhumanity to man? … Such humble beginnings and evolutionary history … What’s not to like? … Besides, not to worry. With their advanced technologies that defy human understanding, the aliens already know you’re here … to stay. So, not to worry. After all, as we know from that documentary of that same name, ‘Earth Girls Are Easy’ … and then there’s photosynthesis on earth in a very big way also going for it! ...

Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen; at best, decades.

6-15-10

When you get to the point where technicalities (preposterously called ‘technical analysis’) and the ‘blind leading the blind‘ (eu? Which followed america into the abyss?) to “explain” the inexplicable (rally), you realize how desperate they’ve become: ‘[BRIEFING.COM] Stocks had run into resistance at their 200-day moving average during the prior session, but this time the broader market staged a strong, steady climb past that key technical line to settle at a three-week high. The tone to trade was positive for the entire session. Initial strength was underpinned by continued support for the euro, which was sent another 0.9% higher to $1.234 following a successful debt offering from Spain and Ireland. The success of that offering suggested that even in the face of continued concerns about tenuous fiscal conditions in Europe there is still an appetite for risk. A positive reaction among Europe's major bourses also helped perpetuate a positive tone among market participants … ‘ DON’T BE THEIR FOOL … AGAIN!

Felix Zulauf: The March 2009 Lows Won’t Hold This weekend’s Barron’s Roundtable had an excellent update on several of our favorite market pundits.

Great opportunity to sell / take profits while you can since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

SEC: Government Destroyed Documents Regarding Pre-9/11 Put Options This is not the first destruction of documentary evidence related to 9/11.

It’s Official: Fed Governors Are Starting To Worry About A Double Dip According to WSJ, the debates have begun inside the Fed about what it should do in the event of a double dip.

Federal Reserve Very Concerned About Double Dip Recession Economic Policy Journal | The Federal Reserve appears to have serious concerns that the economy is heading into a double dip recession.     Food prices to rise by up to 40% over next decade, UN report warns The Guardian | The forecasts are for wheat and coarse grain prices over the next 10 years to be between 15% and 40% higher in real terms.      The Next Housing Crisis Mike Whitney | More than 7 million homeowners have already stopped paying their mortgages which means that the inventory-pipeline will be bulging for years to come.

Afghanistan Mineral Riches Story Is War Propaganda News that the U.S. has suddenly discovered $1 trillion-worth of mineral deposits in Afghanistan, and descriptions of the bounty as a “game changer” by the corporate media, represent nothing more than crude war propaganda designed to reinvigorate public support for a failing and ever more pointless occupation.      Afghanistan Mineral Riches Story Is War Propaganda Steve Watson | “Liberal” New York Times sells globalist occupation once more with fake news.

New York Fed’s Enhanced Powers May Come With Reduced Autonomy The Federal Reserve Bank of New York, which carried out central-bank rescues of money markets and Wall Street firms, is poised to have its powers expanded even more — at the risk of reduced independence.      SEC: Government Destroyed Documents Regarding Pre-9/11 Put Options This is not the first destruction of documentary evidence related to 9/11.      Three British soldiers killed in Afghanistan in 24 hours Three British troops have died in the space of 24 hours following separate battles with the Taliban in Afghanistan.

`LOBOTOMY JOE BIDEN: 'I'M A POLITICAN, AND AM PROUD OF IT!' … riiiiight joe, anything you say ...`

Iowa Republican: Obama favors blacks over whites (AP) - AP - Democrats on Tuesday denounced an Iowa Republican congressman who says President Barack Obama favors blacks over whites, and a GOP candidate from Colorado canceled a fundraiser the Iowan was to k...      Federal Judge Cites Voting Rights Act to Rig Election in New York State Kurt Nimmo | In Port Chester, New York, some people are more equal than others depending on their ethnic and racial status.

‘US Army sent ‘hardcore’ neo-Nazi troops to Iraq and Afghanistan’ Under the Bush administration, the U.S. military allegedly started to recruit neo-Nazis and gang members to fight in Afghanistan and Iraq. Investigative journalist Matt Kennard talks to RT about his researh into these allegations and other problems in the US military.      AXA fears ‘fatal flaw’ will destroy eurozone Analysts at the French financial group AXA see a serious likelihood that the eurozone will break in half or disintegrate, dismissing Europe’s €750bn (£623bn) rescue package for Club Med debtors as a stop-gap measure that misdiagnoses the problem.

Criticize Israel and You’re a Terrorist Incredible. This is the heart of Middle East democracy? Question the actions of the State, as an elected representative, and be called a ‘Terrorist!” and a “murderer”, again and again, and then be threatened with physical violence.

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

Saudi Arabia gives Israel clear skies to attack Iranian nuclear sites Saudi Arabia has conducted tests to stand down its air defences to enable Israeli jets to make a bombing raid on Iran’s nuclear facilities, The Times can reveal. [Well, I guess that’s what good Muslims do. After all, Saudi Arabia is purported home to Mecca. The reality is that Saudi Arabia has lost all credibility. Indeed, the sheik money seems to have exceeded all notions of priority vis-à-vis Saudi’s pious pronouncements of sanctimonious religiosity. I guess that’s why they are in fact a totalitarian state which merely exists for the sake of a few family oil farms. The new Mecca will be Constantinople.]

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

US Foreclosure Filings Down 3% In May; Bank Repos At Record US foreclosure filings fell 3% in May from a month earlier, although bank repossessions set a new monthly record, according to market researcher RealtyTrac.      May foreclosure rate steadies as banks hold back The Associated Press      Rate of foreclosures slowed in May Bizjournals.com       Investment banks face U.K. probe into fees

Bearish Sentiment Rises to Eleven Month High** – Bespoke Investment Group: ‘This week's sentiment survey from Investors Intelligence showed that bearish sentiment among newsletter writers is now up to 31.9% which is an eleven month high. Although the levels of bearish sentiment are still nowhere near the extreme highs we saw during the last bear market, the inability of stocks to 'snap back' from the recent declines certainly has advisors on edge …’

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...   Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY! DON’T BE A LUNE, SELL IN JUNE!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked overtime to make sure Vietnam POWs never came home. I think the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called "american heroe" john mccain was referred to by his fellow pows in Vietnam as something akin to the "songbird" inasmuch as he was constantly "singing" to his Viet-Cong captors to curry favor and better treatment? This has been documented with authority by Colonel David Hackworth. The same violates military code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up scenario, compromizing the false facade of far less than a heroe, is exactly what a criminal (lie of a) nation as america loves and encourages (get everyone's hands dirty so no-one dares to rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone asked how "wall street" has been "spared the spotlight" (and even was accorded protective legislation from their criminal culpability) and focus of inquiry, attention, and prosecution despite being the primary beneficiaries financial and otherwise of these scams (you know the wall street motto, "churn and earn"; huge conflicts of interest if not outright fraud)…’

Coalition wants UK space lift-off [ Don’t make me laugh! ]

Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to abandon its official policy of “ambiguity” on its possession of nuclear weapons as the international community meets at the United Nations in New York this week to consider banning such arsenals from the Middle East.

6-14-10

$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies As part of the SEC’s process to fix the broken market, it is currently soliciting public feedback on a variety of issues. Why it is doing so, we don’t know – after all anything that does not conform to the SEC’s preconception of what the most lucrative market to the SEC’s recent batch of clients (see earlier news about an SEC director going to HFT specialist Getco) is, just ends up in the shredder anyway

Seeking Alpha/ … author: Matt Phillips … Robert Shiller, whose earnings ratios Journal reporter E.S. Browning wrote about back in late May:

Prof. Shiller tracks P/E ratios back to the 19th century, smoothing out short-term ups and downs in profits by using a 10-year earnings average. Even after the May declines, his P/E ratio still is almost 20, well above the historical average of about 16.

For the record, Shillers P/E ratio is still about 20 as of the first month of June. So at least on that basis, Shiller would argue that stocks really aren’t cheap yet …

Seeking Alpha/ … author: FundKing … the trend is definitely not comforting … There is no doubt that GDP growth rates and corporate profits will slow for the rest of the year …

Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.     EU leaders to thrash out multi-billion pound rescue package for Spain as it faces bankruptcy EU leaders are meeting this week to thrash out a rescue package for Spain as its economy teeters on the brink.     BP’s Major British Shareholders Are Ditching The Company While American Ones Are Staying Anti-BP rhetoric has been understandably more fierce in the U.S. than in the U.K..     France Wows Skeptics With A 100 Billion Euro Austerity Plan While France’s credit rating so far has remained under relatively light criticism, as compared to many other Eurozone nations, the nation’s budget deficit this year isn’t pretty at 8% of GDP.      Moody’s Cuts Greece Government Ratings to Junk Reuters | The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status.      Volcker Warns: We Are Running Out Of Time      MoneyNews | America is running out of time to fix its huge economic and fiscal problems, warns former Fed chair Paul Volcker, who now heads a financial advisory board to President Obama. Economist Predicts Greece Will Default in August     Economic Policy Journal | Greece will eventually default on its debt because the country is highly indebted, said Carl Weinberg, chief economist at High Frequency Economics.

Gaza Aid Ship Departs Iranian Port Kurt Nimmo | Iranian official in charge of aid to Gaza says convoy participants may become martyrs.      Obama Compares Gulf Oil Spill To 9/11 Tragedy Mark Matheny | Our current Dictator in Chief and his cronies will certainly play the “crisis” fiddle for all it’s worth.     Central Bank Hid Housing Market Crash Forecast Infowars.com | Financial elite covered-up imminent global housing collapse year before it happened.      The 51st Police State: U.S. National Guard being used to ‘fight crime’ in Puerto Rico Andrew Steele | Establishing the precedent of using the military in police actions as Puerto Rico slowly transforms into a U.S. state will allow the practice to carryover once the transition is completed. Not if Puerto Rico is smart, in which case they will seek independence.

ECONOMIC TRAIN REROUTED TO FLAT LINE author: Steven Hansen ‘When Fed Chairman Bernanke this week stated to Congress that the economy “appears to be on track to continue to expand through this year and next”. I was wondering if Chairman Bernanke had a different set of indicators he was reviewing ... The economic train seems to have left the “moderate” expansion tracks. It was moderately expanding through March. In April 2010, a noticeable change in consumer spending data began. For me, it is telling that this indicator is dropping so dramatically so soon after “recovery” from the Great Recession of 2007 ... This brings into question the long term benefits of economic measures to stimulate the economy when no simultaneous action is taken to remedy the underlying defects which triggered the recession. What is a bigger concern is that stimulus tends to mask the underlying currents so that we are surprised at the economic direction when the stimulus expires. And economic cheerleading creates long term distrust if “v” or moderate recoveries are not delivered. In the same address to Congress, Chairman Bernanke warned that the the US budget must be brought under control. You can thank Europe and Japan for making a bigger mess of their budgets or the sucking sound you would be hearing would have been the dollar and the USA economy crashing. There is no question the current economic path we are traveling is creating unnecessary headwinds …

The coincident indicators are starting to flat line.

The biggest flat line of them all is the initial unemployment claims. The biggest stimulus of all time combined with quantitative easing and ZIRP – and the unsuccessful actions of all the Kings men is not stopping the unusually high plateau of job losses. The 4 week moving average was up slightly for the week ending June 5. The graph below is the unaveraged initial claims … One of the more surprising April 2010 data points was the slight contraction ($1 billion) of international trade MoM. This came despite growth in outbound container counts which I use as an advance proxy for international trade. Imports declined about the same as exports. A flat line of imports and exports is not saying we have a moderate recovery underway … there is a lot of evidence now building against a 'moderate' growth scenario …

Consumer Credit Declines In April At a 4% Annual Rate

Growth of consumer credit has been the driver for economic growth since the end of WWII. The finance industry has continued to fine tune its methods so that it becomes easier and easier to to buy what we want today whether we can afford it or not. Consumer spending accounts for 2/3rds of the economy. We know the economy is growing if consumer credit is growing as consumers are spending more money then they earn.

For April 2010 the Federal Reserve advised:

Consumer credit increased at an annual rate of 1/2 percent in April 2010. Revolving credit decreased at an annual rate of 12 percent, and nonrevolving credit increased at an annual rate of 7 percent.

… This month the Fed's statement is wrong… March is the low month of the year while December is the high month. This has been true since 2000. Using the average growth between March and April since 2000, the April 2010 growth was short 0.36% MoM – or 4% if annualized. Combine this with:

Personal consumption expenditures for April 2010 released by US Census which showed a zero MoM growth

Very mediocre retail sales for April 2010 which showed on an unadjusted basis a MoM drop from $369 billion to $ 365 billion.

The major reason for the credit contraction in April was a contraction of revolving credit (credit cards – I assume this was caused mostly by bank write-offs). Non-revolving credit (cars, mobile homes, etc) has remained in a tight range since the 4Q2007, and did increase very slightly MoM.

Retail Sales for May

The Census believes retail sales were off 1.2% MoM in May 2010 according to their advanced adjusted data. The unadjusted data is telling a far worse story. Even though the April retail data was weak, the USA was showing a closing with the pre-recession levels. May data now shows a widening … retail sales in March and April 2010 were closing almost to 1% of the pre-recession monthly peaks. The May 2010 data shows retail sales over 6% less than the pre-recession peak … initial May 2010 sales results from various retailers is telling the same story … it appears sales are down MoM – and this is true. But the drop MoM is significantly better than the historical MoM drop between March and April … Now, IF business sales are stalling – we would begin to see an increase in inventories. And sure enough the inventory to sales ratios have flat lined. There is a possibility that we reached the optimum inventory levels, and it should be noted that inventories ALWAYS increase between March and April.

The Federal Reserve issued their June 2010 Beige Book – which is a summary of business activity surveys in all twelve districts. Their summary:

Economic activity continued to improve since the last report across all twelve Federal Reserve Districts, although many Districts described the pace of growth as “modest.” Consumer spending and tourism activity generally increased. Business spending also rose, on net, with employment and capital spending edging up but inventory investment slowing. By sector, nonfinancial services, manufacturing, and transportation continued to gradually improve. Residential real estate activity in many Districts was buoyed by the April deadline for the homebuyer tax credit. Commercial real estate remained weak, although some Districts reported an increase in leasing. Financial activity was little changed on balance, although a few Districts noted a modest increase in lending. Spring planting was generally ahead of the normal pace, while conditions in the natural resource sectors varied across the Districts. Prices of final goods and services were largely stable as higher input costs were not being passed along to customers and wage pressures continued to be minimal.

The University of Michigan consumer confidence for May 2010 increased slightly. The opinion which accompanied this survey stated:

The May survey data indicate that consumers expect modest declines in the rate of unemployment as well as small increases in inflation and interest rates during the year ahead. Unfortunately, consumers also anticipate a slower pace of recovery and that the gains in employment in the year ahead will be distressingly small. Nonetheless, financial gains among upper income households will continue to foster growth in overall consumer spending, although the pace of spending growth will slow during the balance of the year and into the start of 2011.’ Failed Banks this Week:

Wither Government. Chaos! Anarchy! Lost Revenue! Kurt Nimmo | What the parasite class has wrought on the people of New York.     What Do The Sears Tower; WTC, and Terror Drills Have In Common? Shepard Ambellas and Alex Thomas | Remember that on September 11, 2001, NORAD was conducting a war games drill that simulated planes flying into towers.       Terrorism: Made in the U.S.A. Future of Freedom Foundation | U.S. policy — no matter who’s in power — couldn’t be better tailored to recruit terrorists.

Saudi Arabia gives Israel clear skies to attack Iranian nuclear sites Saudi Arabia has conducted tests to stand down its air defences to enable Israeli jets to make a bombing raid on Iran’s nuclear facilities, The Times can reveal. [Well, I guess that’s what good Muslims do. After all, Saudi Arabia is purported home to Mecca. The reality is that Saudi Arabia has lost all credibility. Indeed, the sheik money seems to have exceeded all notions of priority vis-à-vis Saudi’s pious pronouncements of sanctimonious religiosity. I guess that’s why they are in fact a totalitarian state which merely exists for the sake of a few family oil farms. The new Mecca will be Constantinople.]

Daniel Ellsberg fears a US hit on Wikileaks founder Julian Assange Daniel Ellsberg, who gained fame when he leaked the Pentagon Papers in 1971 in hopes of ending the Vietnam War, told MSNBC’s Dylan Ratigan on Friday that he not only sees a parallel between himself and the person who recently leaked a video of an assault by US forces on Iraqi civilians but also fears for the safety of Wikileaks founder Julian Assange, who published the video.     The Dying Corporate Media Vilifies Alex Jones, Rand Paul, & The Rising Rage Against The Empire   A new MSNBC documentary called ‘Rise of The New Right’ that is set to air next Wednesday falsely paints the Tea Party’s growing influence in electoral politics as a precursor to a new age of racist rage.

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

US Foreclosure Filings Down 3% In May; Bank Repos At Record US foreclosure filings fell 3% in May from a month earlier, although bank repossessions set a new monthly record, according to market researcher RealtyTrac.      May foreclosure rate steadies as banks hold back The Associated Press      Rate of foreclosures slowed in May Bizjournals.com       Investment banks face U.K. probe into fees

Bearish Sentiment Rises to Eleven Month High – Bespoke Investment Group: ‘This week's sentiment survey from Investors Intelligence showed that bearish sentiment among newsletter writers is now up to 31.9% which is an eleven month high. Although the levels of bearish sentiment are still nowhere near the extreme highs we saw during the last bear market, the inability of stocks to 'snap back' from the recent declines certainly has advisors on edge …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.       Gold’s Flashing Warning Sign Greg Hunter | A wicked storm is blowing our way.        Infowars.com Receives “Rise of the New Right” Script Kurt Nimmo | The establishment is determined to take out the Tea Party political movement prior to the November election.       Music Industry on Verge of Total Collapse Celebrity Buzz | Radiohead frontman Thom Yorke says musicians should resist signing record deals because the major labels will “completely fold” within months.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Gaza blockade illegal, must be lifted — UN rights official     Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

6-11-10

Retail sales drop is first in 8 months which sparks suckers’ rally into the close to keep the suckers’ suckered Retail sales fell for the first time in eight months in May, the government said Friday, widely missing analyst expectations.      Japan’s New PM Warns Country At “Risk Of Collapse” Under Massive Debt Load If the author had done his homework and examined the debt levels as a percentage to GDP, he’d realize that their rational concern is more than just an attempt to devalue their currency, arguably for the ‘export effect’. I’d say in the author’s defense said skepticism is a natural consequence of the fraud, b* s, manipulation, and propaganda he’s used to getting in and from america.         Ron Paul: Restore a Full Audit of the Fed! Congressman Ron Paul speaks up during discussion on a motion to instruct conferees on HR 4173, the so-called “Wall Street Reform and Consumer Protection Act of 2009.”      New oil spill total is bad news for BP, wildlife (AP)       Regulators shut Seattle-based bank (AP)*

John Boehner Shows His True Colors: American People Will Pay for BP Clean-up Kurt Nimmo | Boehner cannot escape his statement that your grandchildren will pay for BP’s oil spill.       Economist Predicts Greece Will Default in August Economic Policy Journal | Greece will eventually default on its debt because the country is highly indebted, said Carl Weinberg, chief economist at High Frequency Economics.       Daniel Ellsberg fears a US hit on Wikileaks founder Julian Assange Muriel Kane | Ellsberg told Dylan Ratigan that he not only sees a parallel between himself and the person who recently leaked a video of an assault by US forces on Iraqi civilians but also fears for the safety of Wikileaks founder Julian Assange, who published the video.

Gov. Paterson: Shutdown over budget would cause ‘unimaginable chaos,’ crime in New York Gov. Paterson went into full doomsday mode Thursday, warning of chaos and anarchy in the streets if the government shuts down.          ‘Lobotomy joe biden’ (He really did have part of his brain removed surgically … and it shows, ie., foot-in-mouth outbursts, poor judgment as this blind support of israel, etc.): In israel’s Service Israel appears to be in more serious trouble diplomatically than at any time in its history following the botched attack by an “elite” commando squad on the Mavi Marmara in the early morning hours of June 1 that left at least nine dead and scores wounded.

Olbermann Slams Tea Party Senate Candidate For Voting Against Water Fluoridation MSNBC Countdown host Keith Olbermann has slammed a Tea Party Senate candidate who won a key primary victory this week, intimating that she is crazy because she believes sodium fluoride, a deadly poison, is poisonous. This is really quite incredible and Angle must be lauded because of this ‘inconvenient, and really life / health threatening truth’ (but what do you expect from a dying network that shills for a mobster like t_rump, etc.)           YouTube Removes Video of Obamatron Thug Attacking Tea Party Activist As should be expected, the original video posted by Watson was removed by YouTube due to terms of use violation, a common tactic employed by YouTube to take down videos it does not agree with or that have received complaints, ALTHOUGH TRUTH BE TOLD, I PERSONALLY EXPERIENCED THE SAME CENSORSHIP BY JONES ET ALS IN MY COMMENTARY ON HIS SITES, AND WOULDN’T EVEN WASTE MY TIME THERE AS SUCH, HYPOCRITS THAT THEY ARE.

Wikileaks Founder Julian Assange Hunted By Pentagon Over Massive Leak Anxious that Wikileaks may be on the verge of publishing a batch of secret State Department cables, investigators are desperately searching for founder Julian Assange.

You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran.

I include the first two comments to the foregoing headline:

Billo Says:

June 11th, 2010 at 6:15 am

Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us?

Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place.

Glen Reply:

June 11th, 2010 at 6:47 am

Lunacy it would be.

But it is also to their great credit that the Iranians have not made their own threats.

Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane.

Watch out america home of the insane, home of the leaders who want an 80% population reduction.

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

US Foreclosure Filings Down 3% In May; Bank Repos At Record US foreclosure filings fell 3% in May from a month earlier, although bank repossessions set a new monthly record, according to market researcher RealtyTrac.      May foreclosure rate steadies as banks hold back The Associated Press      Rate of foreclosures slowed in May Bizjournals.com       Investment banks face U.K. probe into fees

Bearish Sentiment Rises to Eleven Month High – Bespoke Investment Group: ‘This week's sentiment survey from Investors Intelligence showed that bearish sentiment among newsletter writers is now up to 31.9% which is an eleven month high. Although the levels of bearish sentiment are still nowhere near the extreme highs we saw during the last bear market, the inability of stocks to 'snap back' from the recent declines certainly has advisors on edge …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.       Gold’s Flashing Warning Sign Greg Hunter | A wicked storm is blowing our way.        Infowars.com Receives “Rise of the New Right” Script Kurt Nimmo | The establishment is determined to take out the Tea Party political movement prior to the November election.       Music Industry on Verge of Total Collapse Celebrity Buzz | Radiohead frontman Thom Yorke says musicians should resist signing record deals because the major labels will “completely fold” within months.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...   www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

6-10-10

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Professor: Debt Spreading ‘Like a Cancer’, Euro Is Doomed The economic situation today is drastically worse than a couple years ago, and the euro is doomed as a concept, Nassim Taleb, professor and author of the bestselling book “The Black Swan,” told CNBC on Thursday.     Record Number of Foreclosed Homes Seized by Banks in May A record number of Americans lost their homes to foreclosure in May. Almost 94,000 homes were seized by lenders as banks continue to work through a massive backlog of distressed properties.     Michael Pento Says Double-Dip Recession Is Now Guaranteed As usual, Pento’s TV appearance are about as contained and demure as Alan Greenspan on Ambien: “[Bernanke's statement that the economic recovery is intact] guarantees that we are going to have a double dip recession, because his track record is 100% accurate, but it is 100% accurate in the wrong direction.      Japan PM warns of Greece-like debt crisis (AP) - Japan's new prime minister warned Friday that his country could face a financial mess like that of Greece if it did not deal urgently with its swelling national debt.      Strikes put China on spot over labor unrest (AP)

Philadelphia Plans “Street-level Intelligence” Fusion Center Kurt Nimmo | Federalized fusion centers are designed to monitor the political beliefs of American citizens.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

US Foreclosure Filings Down 3% In May; Bank Repos At Record US foreclosure filings fell 3% in May from a month earlier, although bank repossessions set a new monthly record, according to market researcher RealtyTrac.      May foreclosure rate steadies as banks hold back The Associated Press      Rate of foreclosures slowed in May Bizjournals.com       Investment banks face U.K. probe into fees

Bearish Sentiment Rises to Eleven Month High – Bespoke Investment Group: ‘This week's sentiment survey from Investors Intelligence showed that bearish sentiment among newsletter writers is now up to 31.9% which is an eleven month high. Although the levels of bearish sentiment are still nowhere near the extreme highs we saw during the last bear market, the inability of stocks to 'snap back' from the recent declines certainly has advisors on edge …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.       Gold’s Flashing Warning Sign Greg Hunter | A wicked storm is blowing our way.        Infowars.com Receives “Rise of the New Right” Script Kurt Nimmo | The establishment is determined to take out the Tea Party political movement prior to the November election.       Music Industry on Verge of Total Collapse Celebrity Buzz | Radiohead frontman Thom Yorke says musicians should resist signing record deals because the major labels will “completely fold” within months.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Retail sales drop is first in 8 months which sparks suckers’ rally into the close to keep the suckers’ suckered Retail sales fell for the first time in eight months in May, the government said Friday, widely missing analyst expectations.      Japan’s New PM Warns Country At “Risk Of Collapse” Under Massive Debt Load If the author had done his homework and examined the debt levels as a percentage to GDP, he’d realize that their rational concern is more than just an attempt to devalue their currency, arguably for the ‘export effect’. I’d say in the author’s defense said skepticism is a natural consequence of the fraud, b* s, manipulation, and propaganda he’s used to getting in and from america.         Ron Paul: Restore a Full Audit of the Fed! Congressman Ron Paul speaks up during discussion on a motion to instruct conferees on HR 4173, the so-called “Wall Street Reform and Consumer Protection Act of 2009.”      New oil spill total is bad news for BP, wildlife (AP)       Regulators shut Seattle-based bank (AP)*

John Boehner Shows His True Colors: American People Will Pay for BP Clean-up Kurt Nimmo | Boehner cannot escape his statement that your grandchildren will pay for BP’s oil spill.       Economist Predicts Greece Will Default in August Economic Policy Journal | Greece will eventually default on its debt because the country is highly indebted, said Carl Weinberg, chief economist at High Frequency Economics.       Daniel Ellsberg fears a US hit on Wikileaks founder Julian Assange Muriel Kane | Ellsberg told Dylan Ratigan that he not only sees a parallel between himself and the person who recently leaked a video of an assault by US forces on Iraqi civilians but also fears for the safety of Wikileaks founder Julian Assange, who published the video.

Gov. Paterson: Shutdown over budget would cause ‘unimaginable chaos,’ crime in New York Gov. Paterson went into full doomsday mode Thursday, warning of chaos and anarchy in the streets if the government shuts down.          ‘Lobotomy joe biden’ (He really did have part of his brain removed surgically … and it shows, ie., foot-in-mouth outbursts, poor judgment as this blind support of israel, etc.): In israel’s Service Israel appears to be in more serious trouble diplomatically than at any time in its history following the botched attack by an “elite” commando squad on the Mavi Marmara in the early morning hours of June 1 that left at least nine dead and scores wounded.

Olbermann Slams Tea Party Senate Candidate For Voting Against Water Fluoridation MSNBC Countdown host Keith Olbermann has slammed a Tea Party Senate candidate who won a key primary victory this week, intimating that she is crazy because she believes sodium fluoride, a deadly poison, is poisonous. This is really quite incredible and Angle must be lauded because of this ‘inconvenient, and really life / health threatening truth’ (but what do you expect from a dying network that shills for a mobster like t_rump, etc.)           YouTube Removes Video of Obamatron Thug Attacking Tea Party Activist As should be expected, the original video posted by Watson was removed by YouTube due to terms of use violation, a common tactic employed by YouTube to take down videos it does not agree with or that have received complaints, ALTHOUGH TRUTH BE TOLD, I PERSONALLY EXPERIENCED THE SAME CENSORSHIP BY JONES ET ALS IN MY COMMENTARY ON HIS SITES, AND WOULDN’T EVEN WASTE MY TIME THERE AS SUCH, HYPOCRITS THAT THEY ARE.

Wikileaks Founder Julian Assange Hunted By Pentagon Over Massive Leak Anxious that Wikileaks may be on the verge of publishing a batch of secret State Department cables, investigators are desperately searching for founder Julian Assange.

You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran.

I include the first two comments to the foregoing headline:

Billo Says:

June 11th, 2010 at 6:15 am

Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us?

Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place.

Glen Reply:

June 11th, 2010 at 6:47 am

Lunacy it would be.

But it is also to their great credit that the Iranians have not made their own threats.

Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane.

Watch out america home of the insane, home of the leaders who want an 80% population reduction.

Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s.     Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.      Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week.

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

US Foreclosure Filings Down 3% In May; Bank Repos At Record US foreclosure filings fell 3% in May from a month earlier, although bank repossessions set a new monthly record, according to market researcher RealtyTrac.      May foreclosure rate steadies as banks hold back The Associated Press      Rate of foreclosures slowed in May Bizjournals.com       Investment banks face U.K. probe into fees

Bearish Sentiment Rises to Eleven Month High – Bespoke Investment Group: ‘This week's sentiment survey from Investors Intelligence showed that bearish sentiment among newsletter writers is now up to 31.9% which is an eleven month high. Although the levels of bearish sentiment are still nowhere near the extreme highs we saw during the last bear market, the inability of stocks to 'snap back' from the recent declines certainly has advisors on edge …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.       Gold’s Flashing Warning Sign Greg Hunter | A wicked storm is blowing our way.        Infowars.com Receives “Rise of the New Right” Script Kurt Nimmo | The establishment is determined to take out the Tea Party political movement prior to the November election.       Music Industry on Verge of Total Collapse Celebrity Buzz | Radiohead frontman Thom Yorke says musicians should resist signing record deals because the major labels will “completely fold” within months.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...   www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group.

Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked overtime to make sure Vietnam POWs never came home. I think the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called "american heroe" john mccain was referred to by his fellow pows in Vietnam as something akin to the "songbird" inasmuch as he was constantly "singing" to his Viet-Cong captors to curry favor and better treatment? This has been documented with authority by Colonel David Hackworth. The same violates military code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up scenario, compromizing the false facade of far less than a heroe, is exactly what a criminal (lie of a) nation as america loves and encourages (get everyone's hands dirty so no-one dares to rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone asked how "wall street" has been "spared the spotlight" (and even was accorded protective legislation from their criminal culpability) and focus of inquiry, attention, and prosecution despite being the primary beneficiaries financial and otherwise of these scams (you know the wall street motto, "churn and earn"; huge conflicts of interest if not outright fraud)…’

Coalition wants UK space lift-off [ Don’t make me laugh! ]

Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to abandon its official policy of “ambiguity” on its possession of nuclear weapons as the international community meets at the United Nations in New York this week to consider banning such arsenals from the Middle East.

NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:

Launch of secret US space ship masks even more secret launch of new weapon

The Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”

OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).

NASA's New Asteroid Mission Could Save the Planet Space.com - Tariq Malik - ‎CAPE CANAVERAL, Fla. - President Barack Obama set a lofty next goal this week for Americans in space: Visiting an asteroid by 2025. Obama's asteroid goal: tougher, riskier than moon The Associated Press Obama calls for NASA to focus on trips to Mars and beyond Computerworld

New Boondoggle promised to save NASA boondoggle defacto bankrupt budget piece of pie. `And don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.`

First fake moonwalker blasts Obama's space plan msnbc.com - Bill Ingalls - The first man to pretend to walk on the moon blasted President Barack Obama's decision to cancel NASA's back-to-the-moon program on Tuesday, saying that not going with the new movie is “devastating” to america's boondoggle spaced out effort. Fake dutch 'moon rock' revealed a treasured piece at the dutch national museum - a supposed moon rock from the first manned lunar landing - is nothing more than petrified wood, ...bbc news bbc news | europe | fake dutch 'moon rock' revealed prized moon rock a fake - a piece of moon rock given to an overseas politician by the united states is actually a lump of petrified wood, museum authorities revealed yesterday. ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, ...    http://www.albertpeia.com/moonfraud.htm

In reality it is just a piece of petrified wood ... Another piece of evidence that shows again that apollo program is indeed a fake and a typical american fraud!

http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv

Editorial: US in quagmire Seeing the warm welcome extended to the Afghan president on his US trip, it is hard to believe that only weeks ago Washington was seething with anger and frustration at Hamid Karzai’s behavior and there were even dark mutterings by US officials that he might be mad.

War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq.        Sinking of the Cheonan: A Classic False Flag Operation Russia Today | Sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home.     .      Israel: IDF Troops Who Murdered Unarmed Innocent People Are ‘Brave Heroes’ The government of israel, aided by many quarters of the international media, is attempting to spin today’s deadly IDF assault on a humanitarian aid ship carrying supplies to Gaza as the fault of the murdered activists on board the vessel, ludicrously characterizing machine-gun carrying Israeli troops who killed over a dozen innocent people as the victims of the incident.

Murder on the high seas JERUSALEM: Israeli marines stormed aid ships bound for Gaza on Monday and at least 10 rights activists were killed, triggering a diplomatic crisis and an emergency session of the UN Security Council. European nations, as well as the United Nations and Turkey, voiced shock and outrage at the bloody end to the international campaigners' bid to break Israel's blockade of the Gaza Strip

Israeli American Microbiologist Linked to Deadly Fungus Kurt Nimmo | A report links labs in the United States and Israel to the Cryptococcus gatti fungus that has killed several people in the United States.

Iraqi doctors demand cancer probe Al Jazeera | Iraqi doctors believe depleted uranium from US military equipment used in the 2003 invasion is spreading cancer through the population. [This is all too true and real; and I’m surprised this hasn’t gotten more attention, coverage … well, maybe not that surprised ].

"What this means is that Neanderthals are not totally extinct. In some of us, they live on," Paabo … With regard to that extinction thing, I’d say they’re still working on it (ultimately, decades, extinction, the distinction, without a difference). Actually, prior to studying the compelling subject of Biological Anthropology (Michael Park text), I too had some misconceptions about the group known as Neandertals (recent spelling drops the ‘h’) and actually mis-referenced same by the stereotypical image of members of said clade even as the debate continues as to whether they are within the species homo sapiens or a separate species. I believe these to be distinctions without important differences, so humble the origins and evolution of man truly are. Parenthetically, I wonder what that anthropological scientist Heidi Klum thinks on the subject.

Neanderthals, Humans Interbred, DNA Proves

Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm

`Previously I wrote:`

`FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:`

To Learn More About From Whence Man Came, This Link's For You

  [To the Professor at the beginning of the course]

   10-5-09 Postscript: Professor *****,
I felt compelled to thank you again for the add; not to curry your favor but indeed to express profound thanks inasmuch as this is probably the last formal course at a formal educational institution I'll ever take; and among the most important. While I had bought at discount a library-discarded 1993 Anthropology by Embers text, though meaning to read same never quite got to it. I am astounded by the substantial amount of time involved in the evolutionary process, not that I ever stopped to think about it, and one must come away with the sense of 'and all that...for this?'. This course should be required curriculum along with psychology, sociology, etc., but probably won't be owing to what is, as it should be, a very humbling educational experience for any member of the human race.
             Regards,
                                  Al Peia

[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.]

[Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Don’t Tread On Me: A Refresher Course on the Constitution

`BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT RISK ...    ABOLISH THE CORRUPT, ECONOMICALLY WASTEFUL SO-CALLED SYSTEM, FROM MY DIRECT OBSERVATION AND EXPERIENCE .    (PREVIOUSLY ARCHIVED)`HOWEVER, THIS LATEST "CALIFORNIA/LA DISTRACTION" REQUIRES ELUCIDATION AS FOLLOWS:

·        ·         Response to App. Div. OSC

·        ·         STATE OF CALIFORNIA ethics complaint

·        ·         Response to Sup.Ct. OSC

·        ·         designation of record on appeal

·        ·         The so-called "order" appealed from.
How embarrassing for the superior court of the state of california!

·        ·         Typical corrupt banana republic america/california court

Dirty money digitally laundered … a wall street, atlantic city, and american story … a very bad one and [also see RICO case   http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf           http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]     Fraud: It’s Much Bigger Than Goldman Sachs       Regulatory reform debate obscures key fact: Everybody’s getting money bribes from Wall Street

Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare moment for one to say that a sleazy hypocrite like blago, who is on corrupt federale-connected mobster trump’s celebrity apprentice, happens to be correct based upon facts / reality and my own direct observation and experience and the law – Don’t forget to include corrupt federal judges as maryanne trump barry, sam alito, shiff, matz, hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken] (AP)   [Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Drudgereport: `DEBT RISE TO $19,600,000,000,000.00 BY 2015`

`NY MAY SHUT NEXT WEEK: Paterson Warns Chaos, Anarchy...`

`GALLUP: NEW LOW FOR O, SLIPS TO 44%...`

`POLL: Voter support for Congress at all-time low...`

`Retail sales unexpectedly fall in May...`
`...plunge by largest amount in 8 months`

`BP eyes showdown with US govt on liability...`

`Ahmadinejad: Israel 'doomed'...`

`UN hits Iran with new sanctions over nuclear program...`
`TURKEY, BRAZIL VOTE AGAINST...`
`Ahmadinejad: Resolution 'like a used handkerchief'...`

`Copter shot down in Afghanistan; 4 Americans dead...`
`Gates predicts tough summer, confident of gains…Oooooh! Sounds like a plam!...`
`Shares Plunge 16% as Pressures Mount...`
`'Month before they declare Chapter 11'...`
`PAPER: Obama's attacks on BP hurting British pensioners...`
`Windows shot out at BP gas station...`

`POLL: 74% Oppose Tax On DRUDGE, Web Sites To Help Newspapers...`

`Ahmadinejad Stresses Need for 'New World Order'...`
`Russia, Iran in joint venture for nuclear plant... Two more Palestinians killed by Israel wash ashore...`

`UN rebukes of Israel permitted in US policy shift...`
`DEBT POISED TO OVERTAKE GDP`

`POLL: BP Oil Spill Response Rated Worse than Katrina...`

`WH PRESS QUEEN: JEWS GET OUT OF ISRAEL, GO BACK TO POLAND … UPON REFLECTION, A GOOD IDEA … AFTER ALL, THE ENGLISH BALFOUR DECLARATION WAS A PRO-COMMUNIST CONCESSION, A BAD IDEA, AND THE CREATION OF ISRAEL U.S. DOD CHIEF JAMES FORRESTAL OPPOSED IN 1948 AS AN AMERICA KILLER!`

`'Three Cheers for Helen Thomas'...`
`Fleisher: Ethnic Cleansing by israel … Wouldn’t abrogation of flawed / failed balfour and sending jews home to europe be the wisest and most peace generating course ...`

`UPDATE: Crude gushes from cap; only a fraction captured...`
`Census Worker Claims Job Numbers Being Inflated... Bilderberg 2010: Between the sword and the wall...`
`Protesters 'being detained, searched, questioned'...`
`Final List of Participants...`

Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous … might not like us… Oh pshaw! … Human nature, man’s inhumanity to man? … Such humble beginnings and evolutionary history … What’s not to like? … Besides, not to worry. With their advanced technologies that defy human understanding, the aliens already know you’re here … to stay. So, not to worry. After all, as we know from that documentary of that same name, ‘Earth Girls Are Easy’ … and then there’s photosynthesis on earth in a very big way also going for it! ...

Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen; at best, decades.

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

6-9-10

Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’

US Foreclosure Filings Down 3% In May; Bank Repos At Record US foreclosure filings fell 3% in May from a month earlier, although bank repossessions set a new monthly record, according to market researcher RealtyTrac.      May foreclosure rate steadies as banks hold back The Associated Press      Rate of foreclosures slowed in May Bizjournals.com       Investment banks face U.K. probe into fees

Bearish Sentiment Rises to Eleven Month High – Bespoke Investment Group: ‘This week's sentiment survey from Investors Intelligence showed that bearish sentiment among newsletter writers is now up to 31.9% which is an eleven month high. Although the levels of bearish sentiment are still nowhere near the extreme highs we saw during the last bear market, the inability of stocks to 'snap back' from the recent declines certainly has advisors on edge …’

Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.      12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”.        US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.       Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence.

MSNBC Hit Piece Smears Tea Party As Neo-Nazis An MSNBC hit piece set to air next week attempts to smear Tea Party activists and average Americans concerned about how the financial crisis is being exploited as neo-nazi Hitler supporters who want to go on killing sprees, highlighting once again the corporate media’s desperation to eviscerate the popularity of anti-establishment political candidates in the run up to the November elections.      Neocon Frum Shills For Bilderberg Arch Neocon David Frum, the man who coined the term “axis of evil” as a speech writer of George W. Bush, wants us to believe that the Bilderberg Group consists of a washed up group of old men who do not really have any political power or influence, a claim we have consistently debunked. [ Washed up, without any influence whatsoever? You can’t totally dismiss the prevalence of moving money / bribes, to effect their will / ‘policies’ such as they are… so I don’t know about ‘no influence’ … But my view is that they’re incompetent vegetables who much like an encounter / support group you might find in a mental hospital group therapy program, I believe they tend to be ‘mutually supportive’. ]      Left-Wing Icon Daniel Ellsberg: ‘Obama Deceives the Public Daniel Ellsberg, legendary leaker of the “Pentagon Papers” in 1971, still has a bone to pick with the White House. In an interview with SPIEGEL ONLINE, the 79-year-old peace activist accuses President Obama of betraying his election promises — in Iraq, in Afghanistan and on civil liberties.        Israeli Official Threatens to Kill Turkish PM Uzi Dayan, former deputy Chief of General Staff in Israel, says the Jewish state should consider a possible Turkish military escort of Gaza aid ships an act of war. “If the Turkish prime minister joins such a flotilla,” Dayan told Israeli army radio, according to the Jerusalem Post, “we should make clear beforehand this would be an act of war, and we would not try to take over the ship he was on, but would sink it.”        USNORTHCOM Gears Up For Potential Attack On U.S. Soil USNORTHCOM admits that they are preparing military operations within the United States. This is the first time in history this has been done. They will be working with DHS, state and local law enforcement on U.S. soil.     Attorney: Deepwater Horizon Managers Knew About Oil Rig Problem Before Explosion   Top Houston attorney Tony Buzbee says he has new evidence which indicates that Deepwater Horizon’s managers knew that the BP oil rig had major problems before its explosion on April 20, citing the eyewitness account of a crew member who rescued burning workers on the rig of a conversation between Deepwater Horizon installation manager Jimmy Harrell and someone in Houston. According to the witness, Harrell was screaming, “Are you fucking happy? Are you fucking happy? The rig’s on fire! I told you this was gonna happen.”

Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder.       Gold’s Flashing Warning Sign Greg Hunter | A wicked storm is blowing our way.        Infowars.com Receives “Rise of the New Right” Script Kurt Nimmo | The establishment is determined to take out the Tea Party political movement prior to the November election.       Music Industry on Verge of Total Collapse Celebrity Buzz | Radiohead frontman Thom Yorke says musicians should resist signing record deals because the major labels will “completely fold” within months.

US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors      Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ...

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

6-8-10

Why To Question the 2010 Stock Market Rally   [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ]

REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year.    Bernanke Says Unemployment Unlikely to Fall Quickly Federal Reserve Chairman Ben S. Bernanke said the U.S. recovery probably won’t quickly bring down the unemployment rate, which is likely to stay “high for a while.”     Gold climbs to new record as double dip recession talk grows For some time now we’ve been saying that the global financial turmoil had a way to run yet, but markets, which were then rising, and soaring commodity prices, looked to be belying our forecasts.      Why Governments Hate Gold This past week several emerging and ongoing crises took attention away from the ongoing sovereign debt problems in Greece. The bailouts are merely kicking the can down the road and making things worse for taxpaying citizens, here and abroad.      Goldman Sachs subpoenaed for failing to cooperate with finance probe A high profile panel investigating the causes of the financial crisis announced Monday it had subpoenaed Goldman Sachs for failing to cooperate with the probe.

Goldman Even Guiltier Than Previously Assumed, Says FCIC Vice Chairman

Obama Warns Oil Spill Will Substantially Impact Economy VOANews | Obama said Americans should be prepared for a substantial and ongoing economic impact.     U.S. Will be Like Greece in ‘Seven to 10 Years,’ Say Congressmen, Experts CNSNews | National bankruptcy in seven to 10 years unless the federal government radically curtails spending.      Austerity Fascism Is Coming And It Will Be Brutal Top historians, social and financial analysts are warning that the draconian austerity measures currently being prepared by governments in the west will cause riots and even revolutions as people react with fury in response to their jobs, savings, basic public services, pensions and welfare money being seized by the financial terrorists who caused the economic collapse in the first place.

Evidence Points To BP Oil Spill False Flag Troubling evidence surrounding the Deepwater Horizon explosion on April 20th suggests that the incident could have been manufactured.

- Sales of shares and stocks in days and weeks beforehand
- Halliburton link, acquisition of cleanup company days before explosion
- BP report cites undocumented tampering with well sealing equipment
- Government uses disaster to push for Carbon Tax, Nationalization talk

Anti-incumbent feelings at new high, poll finds As voters head to the polls Tuesday for a crucial set of primary elections, a new Washington Post-ABC News poll finds antipathy toward their elected officials rising and anti-incumbent sentiment at an all-time high.     Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.      Bilderberg 2010: Help us identify the delegates Take a look at our gallery and see whether you can pinpoint the identities of attendees at the world’s most secure conference.

Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

Two more Palestinians killed by Israel wash ashore The bodies of two Palestinians killed by Israeli fire in the seas off Gaza washed ashore on Tuesday, bringing to six the total number of alleged militants killed by the navy in a raid off the coast.      It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip?

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)   Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.     Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

Self-publishing turning book world on its ear (Christopher Null)

Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

Israeli Forces Threaten to Board Gaza Aid Ship Voice of America Photo: AP Israeli forces have said they will board a cargo ship carrying aid if it does not divert from its course to the Gaza Strip. Video: Gaza aid ship rejects Israeli compromise ITN NEWS Video: Gaza aid ship rejects Israeli compromise ITN NEWS Israel threatens to board Gaza-bound aid ship AFP

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Israeli navy boards Rachel Corrie in MediterraneanJERUSALEM: The Israeli navy boarded another aid ship bound for Gaza on Saturday, as Washington condemned as "unsustainable" a blockade which Israel enforced earlier in the week by killing 9 people aboard a Turkish vessel.    Israeli warships shadowing new Gaza-bound ship — activists       Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

6-7-10

U.S.’s $13 Trillion Debt Poised to Overtake GDP Chart of Day President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.” The CHART OF THE DAY tracks U.S. gross domestic product and the government’s total debt, which rose past $13 trillion for the first time this month.       At least $500 million has been spent since 9/11 on renovating Guantanamo Bay At the U.S. naval station here, a handsome electronic sign hangs between two concrete pillars. In yellow enamel against a blue metal backdrop is a map of Cuba, the “Pearl of the Antilles,” above flashing time and temperature readings.     In 5 Years, UK Will Be Spending More On Interest Than Schools, Climate, And Transport Combined In support of his “bloodbath” austerity budget, UK Prime Minister David Cameron is laying out some stark budgetary math in a speech right now.         College Students This Is Your Future: High Unemployment And Student Loan Hell Hundreds of thousands of college students all over the United States have just graduated and are getting ready for their first taste of the real world.        Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit.      Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned.

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.)

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

Banks Seized by Regulators in Nebraska, Mississippi, Illinois Three banks with total deposits of almost $2.3 billion were seized by regulators amid losses stemming from soured real-estate loans, raising to 81 the number of U.S. lenders that have collapsed this year.     Nikkei 225 Falls Most in 14 Months on US Jobs, Weaker Euro, Metal Prices Bloomberg      Euro ‘will be dead in five years’ The euro will have broken up before the end of this Parliamentary term, according to the bulk of economists taking part in a wide-ranging economic survey for The Sunday Telegraph.

`Credit Rating Cut on Wealthiest U.S. State...`

`Defacto bankrupt america has the worst technology imaginable (and I have aformidable grasp and knowledge of same) despite spin as in the dot.com bust to the contrary. Even the simplest things are major undertakings for the fraudulent, incompetent, defacto bankrupt america.`

My view remains that the bilderbergs merely reflect the worst of human nature in terms of greed and envy which would encompass the shared attitude of ‘keeping them down’ but are hardly the efficient purblind doomsters they would have you believe but rather are incompetent vegetables who like most americans are inherently inclined toward criminal activity, collectively and individually, and financially able to manifest their shared nefarious traits.      Former Nato Secretary-General Admits Bilderberg Sets Global Policy Former NATO Secretary-General and Bilderberg member Willy Claes has confounded claims by debunkers that the secret organization which met in Sitges Spain over the last few days does not set policy, admitting during a Belgian radio interview that Bilderberg attendees are mandated to implement decisions that are formulated during the annual conference of power brokers.     Gold Surges As Euro Continues To Collapse Gold futures have surged to a four week high today as the Euro continues to flounder and investors seek a safe haven.    Bilderberg Wants Americans Disarmed And Dependent On Government As part of Bilderberg’s agenda to “Europeanize” America and turn it into a socialist welfare state wherein its citizens are completely dependent on the government, the elite are celebrating President Obama’s support for a UN small arms treaty, which many fear could be used to impinge on the right to keep and bear arms.       Bilderberg 2010: Prisonplanet.com Master Page This is a master page with links to articles, videos, pictures and coverage of the secretive Bilderberg meeting, taking place over the 3-6 June 2010 in Sitges Spain.       Bilderberg Agenda Revealed: Globalists In Crisis, Supportive Of Attack On Iran The 2010 Bilderberg agenda has been revealed by veteran Bilderberg sleuth Jim Tucker and it paints a picture of crisis for the globalists, who are furious at the increased exposure their gatherings have received in recent years, as well as being dismayed at their failure to rescue both the euro and the failing carbon tax agenda, but more alarmingly according to Tucker, the majority of Bilderberg members are now in favor of military air strikes on Iran.      Bill Gates To Attend 2010 Bilderberg Conference Microsoft founder Bill Gates will join fellow elitists for the first time at the 2010 Bilderberg conference currently taking place in Sitges Spain, after he apparently attempted to pull a bait and switch by pretending to attend another event before being forced to admit to journalists that he will give a speech at the globalist confab.       Large Protests, Extensive Media Coverage Signifies Awakening To Bilderberg Agenda Large protests and extensive media coverage of the 2010 Bilderberg meeting in Spain indicates that the world is finally waking up to the secretive agenda of the elite group.      Bilderberg See People With Income As “A Threat” To Their Agenda An astounding exchange between Bilderberg conference organizers overheard by a London Guardian journalist reveals that the elitists currently gathering at the Hotel Dolce Sitges in Spain see people with income as “a threat” to their agenda, highlighting the fact that the globalists are intent on eviscerating the middle class and lowering living standards.

Fed Denies Bernanke Attended Bilderberg Was it just a coincidence that Fed Chairman Ben Bernanke didn’t attend the G-20 meeting in South Korea, sending Fed Governor Kevin Warsh in his place?     Israeli navy kills four Palestinians off Gaza coast At least four Palestinians were killed when Israeli navy commandos opened fire on civilians they said was a squad of militants in diving suits off the coast of Gaza today.        Iran Red Crescent to send two aid ships to Gaza The Iranian Red Crescent has decided to send two aid ships to Gaza this week in the latest bid to break the blockade imposed on the Palestinian territory by Iran’s regional archfoe israel. It seems that all have conveniently lost their memories of the principled stance taken by Iran against the nazis in WWII and their role in aiding victims of aggression.        Helen Thomas Retires After “Go Back to Poland” Comment Infowars.com | Helen Thomas announced Monday that she is retiring, effective immediately.

Israel steals passports RAMALLAH, West Bank: The European Campaign to End the Siege of Gaza said Sunday that Israeli authorities stole dozens of passports belonging to pro-Palestinian activists last week. In a press statement, the Campaign said the Israeli authorities "stole 31 passports of foreign activists who were on board the Freedom Flotilla."

`DEBT POISED TO OVERTAKE GDP`      Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor      You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government can or will do about it except lie.       The Folly of Blindly Trusting the Government

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.     Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

Self-publishing turning book world on its ear (Christopher Null)

Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

Israeli Forces Threaten to Board Gaza Aid Ship Voice of America Photo: AP Israeli forces have said they will board a cargo ship carrying aid if it does not divert from its course to the Gaza Strip. Video: Gaza aid ship rejects Israeli compromise ITN NEWS Video: Gaza aid ship rejects Israeli compromise ITN NEWS Israel threatens to board Gaza-bound aid ship AFP

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Israeli navy boards Rachel Corrie in MediterraneanJERUSALEM: The Israeli navy boarded another aid ship bound for Gaza on Saturday, as Washington condemned as "unsustainable" a blockade which Israel enforced earlier in the week by killing 9 people aboard a Turkish vessel.    Israeli warships shadowing new Gaza-bound ship — activists       Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

6-4-10

STOCK MARKET WIPE-OUT: DAVE'S DAILY

‘One thing president's and their handlers should learn--words matter. Obama got everyone pretty excited on Wednesday by suggesting naively we'd have a good employment number Friday. He probably knew the number already but was uninformed as to what markets were expecting.’

Obama Says He Expects Strong US Jobs Report Friday By Jared A. Favole

WASHINGTON -(Dow Jones)- President Barack Obama, speaking Wednesday at Carnegie Mellon University on the economy, said he expects strong job growth to be reported Friday."

‘That statement posted in the afternoon Wednesday led to the late day market spike and caused many forecasters to adjust their expectations to as high a new jobs number as 700K. Therefore, Friday's data was a major miss and disappointment. While the unemployment rate declined to 9.7% that was only because over 300K dropped-off the rolls into oblivion or sleeping in Central Park. Adding to Friday's stock market rout was a new European problem child, Hungary. This was a surprise to markets and the story is well documented by Bloomberg. So, we add the letter "H" to the PIIGS and get PHIIGS. It does sound better anyway. While Hungary is not on the euro, the news sent the currency briefly below 1.20. Taken together this was all a bit much for bulls to take and the volatile day-to-day yo-yo market resumed with a vengeance. It was take no prisoners' type of trading as those jumping aboard yesterday during the short-squeeze were quickly stopped-out of their fresh positions. And the previous pattern of heavier volume on down vs up days continues. Although all the calculations aren't made yet, breadth was no doubt a 10/90 negative day...’

YAHOO [BRIEFING.COM]: ‘Sellers reclaimed control of the stock market after it had put together solid back-to-back gains. The change in tone came amid renewed concerns about contagion in Europe and disappointing nonfarm payrolls data. Stocks entered Friday with a weekly gain of more than 1%, but that was dashed with this session's rout, which saw the S&P 500 drop more than 3%. That gave the stock market a weekly loss of more than 2% -- its fourth weekly loss of more than 1% in six weeks. Market participants sold stocks en masse upon learning that officials from Hungary stated that economic conditions in their country are grave and that talk of default is not an exaggeration. What's more, the country does not plan to put austerity measures in place, leading many wonder whether the European Union (EU) will have to provide a bailout …’

Treasury Prices Soar, Post Weekly Gains As Stocks, Euro Plunge Wall Street Journal - Min Zeng - NEW YORK (Dow Jones)--Prices of Treasury securities rose sharply Friday and posted a weekly gain as growing worries about the global economic outlook fueled demand for safe assets.     US Indexes Fall Sharply on Jobs Data New York Times     Stocks sink on disappointing jobs report Los Angeles Times      Job growth weakens in May despite surge in census hiring Los Angeles Times - A burst of hiring of temporary census workers and people giving up on looking for non-existent jobs helped push down the unemployment rate in May, but the nation's private-sector employers added a mere 41000 new jobs last month, the Labor Department said Friday.    Video: Unemployment Rate Drops Thanks to Census Jobs and people giving up on looking for non-existent jobs The Associated Press     Hiring Recovery Sputters Wall Street Journal

CHART OF THE DAY: The Scariest Job Chart Ever Just Got Even Scarier We’ve dubbed this chart the “Scariest Job Chart Ever,” as it shows how the decline in employment is WAY uglier than in past recessions. [Well, the reason the employment decline is way uglier than in past recessions is reality that:
This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

Census Worker Claims Job Numbers Are Being Inflated “What they do is hire you, they train you like a few weeks — 35, 40 hours of training and give you six hours of productive work and lay you off.” a former Census named “Maria” tells FOX News. “Maria” further explains they rehire you so it counts as a new job.    Government Jobs Account for 95% of May Job Increases Employers in the U.S. hired fewer workers in May than forecast and Americans dropped out of the labor force, showing a lack of confidence in the recovery that may lead to slower economic growth.

Euro Falls Below $1.20 on Fresh Debt Fears The euro dropped to its lowest level in four years after a weaker-than-expected U.S. jobs report added to fresh concerns over euro-zone sovereign debt, leading investors to file out of riskier assets.      U.S. National Debt 2010 So just how big is the U.S. national debt in 2010? Well, according to the U.S. Treasury Department, on June 1st the U.S. National Debt was $13,050,826,460,886.97.    Got Gold? Head Of IMF Policy-Steering Committee Says Fund Needs $320 Billion To Be “Properly Resourced” Those observing the emperor’s lack of clothing are multiplying. Earlier today, someone opened their mouth, and remarked on the blatantly obvious.

Say goodbye to full-time jobs with benefits CNNMoney | Many of the jobs employers are adding are temporary or contract positions, rather than traditional full-time jobs with benefits.     U.S. Jobs Report Compounds Europe’s Woes Wall Street Journal | European stocks slumped as a disappointing U.S. jobs report added to worries about the health of the European economy.

Goldman bet $35m against California (at Financial Times)

I don’t consider myself naïve and do concede that there is typical “good old boys, sometimes even criminal contriving and conniving done that excludes some and includes others (that certainly is a bill gates story)”, but I don’t buy what I believe they would want you to believe that they are more than the incompetent vegetables that they indeed are. After all, look at the state of the world and getting worse by the minute. They are just ‘f-ups’, plain and simple. Some indeed are ruthless (war) criminals, ie., kissinger, etc., but not earth-shatteringly so, though collectively they do have a negative effect, but predominantly because they are simply incompetent vegetables / ‘f-ups’ . Bill Gates To Attend 2010 Bilderberg Conference Microsoft founder Bill Gates will join fellow elitists for the first time at the 2010 Bilderberg conference currently taking place in Sitges Spain, after he apparently attempted to pull a bait and switch by pretending to attend another event before being forced to admit to journalists that he will give a speech at the globalist confab.     Large Protests, Extensive Media Coverage Signifies Awakening To Bilderberg Agenda Large protests and extensive media coverage of the 2010 Bilderberg meeting in Spain indicates that the world is finally waking up to the secretive agenda of the elite group.      Bilderberg 2010: Prisonplanet.com Master Page This is a master page with links to articles, videos, pictures and coverage of the secretive Bilderberg meeting, taking place over the 3-6 June 2010 in Sitges Spain.      Bilderberg 2010: Video Of Protests Large numbers of protesters have gathered outside Hotel Dolce in Sitges, Spain, where the annual meeting of Bilderberg Group is taking place.      Research Links Genetically Modified Food To Long Term Sterility A new study done by Russian scientists suggests that Genetically Modified Food may cause long term sterility, that is, sterility in second and third generations.        Bilderberg See People With Income As “A Threat” To Their Agenda An astounding exchange between Bilderberg conference organizers overheard by a London Guardian journalist reveals that the elitists currently gathering at the Hotel Dolce Sitges in Spain see people with income as “a threat” to their agenda, highlighting the fact that the globalists are intent on eviscerating the middle class and lowering living standards.

All relevant economic / financial data was worse than expected … (6-3-10) stocks rallied (rallies on good, fake, and bad news alike are what bubbles are made of … as are consequent crashes) … oh, almost forgot the higher oil part of the bull ‘story’.

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

YAHOO [BRIEFING.COM]: A barrage of economic reports provided plenty of catalysts for trade, but broader market muddled along for most of the session. Large-cap tech led the Nasdaq to a strong gain, though. Market participants got a preview of tomorrow's pivotal nonfarm payrolls report with the release of the May ADP Employment Change report, which indicated that private sector payrolls increased by 55,000 last month. However, that was actually weaker than the 70,000 increase that had been widely expected. Initial claims for the week ended May 29 totaled 453,000, which is on par with the 455,000 initial claims that many had come to expect. Continuing jobless claims climbed to 4.67 million, which is more than the 4.61 million that had been expected. The ISM Services Index for May came in at 55.4, which is in-line with expectations for a reading of 55.6. Factory orders for April increased 1.2%, which is a slower rate than the 1.7% increase that many had expected. In other economic news, first quarter nonfarm productivity increased of 2.8%, which is less than the expected 3.3% increase. Unit labor costs for the first quarter fell 1.3%, which is a softer decline than the 1.6% drop that had been widely expected. There was an underwhelming response to the large dose of data. Corporate headlines, which were generally limited, also did little to inspire. Roughly half of the monthly same-store sales reports in Briefing.com's coverage universe missed expectations. That left the group to lag the broader market for the better part of the session and finish with a fractional gain…

Reuters headline: wall street advances as tech soars … This harkens back to the dot.com days and I can personally attest to the fact that any thoughts that tech will save us, tech’s the thing, along with the next new tech thing is preposterous and without foundation so lacking is the same in terms of utility / added value except as to the greater efficiency with which the churn-and-earn commissionable wall street frauds are consummated.

Oct 31, 2009 ... or surplus, as a percentage of GDP* ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

Self-publishing turning book world on its ear (Christopher Null)

Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

Israeli Forces Threaten to Board Gaza Aid Ship Voice of America Photo: AP Israeli forces have said they will board a cargo ship carrying aid if it does not divert from its course to the Gaza Strip. Video: Gaza aid ship rejects Israeli compromise ITN NEWS Video: Gaza aid ship rejects Israeli compromise ITN NEWS Israel threatens to board Gaza-bound aid ship AFP

The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp.

Israeli navy boards Rachel Corrie in MediterraneanJERUSALEM: The Israeli navy boarded another aid ship bound for Gaza on Saturday, as Washington condemned as "unsustainable" a blockade which Israel enforced earlier in the week by killing 9 people aboard a Turkish vessel.    Israeli warships shadowing new Gaza-bound ship — activists       Gaza blockade illegal, must be lifted — UN rights official      Israeli blockade of Gaza unsustainable: White House       US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books.      Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

6-3-10

All relevant economic / financial data was worse than expected … stocks rallied (rallies on good, fake, and bad news alike are what bubbles are made of … as are consequent crashes) … oh, almost forgot the higher oil part of the bull ‘story’.

The End of Buy and Hold ... And Hope Brian Rezny (I was going to insert his charts in this synopsis but there are just too many good ones and they are a must see so go to his article, not just because I agree with much of what he says though he’s light on that ‘depression thing’ and overly optimistic as such, but because he is smart – You may click here for archived version) ‘… Buy and hold investing is a popular strategy, and the thinking is straightforward: in the long run, the market will offer returns, in spite of short-term volatility. In theory, this is a sensible idea. Unfortunately, this approach does not work in today’s market. Why not? Of course, the market is down for this month. But that’s not the reason this is not a buy and hold environment. It’s not just about the recent correction, or the end of a market rally. The current trend fits into a much bigger picture… and it’s a picture of a long-term bear market. Secular markets are long-term trends, typically lasting about 18 years. Secular bull markets generally see stocks return at least 20% for the duration, while secular bear markets see stocks decline at least 20%. And these secular trends are interspersed with shorter, cyclical bull and bear markets. From 1982-2000 we experienced a secular bull market: in that period, stocks offered a return if you bought and held for the duration … (chart) … But since then? We have been in what I call a secular bear market. As you can see below, an investor who bought into an index that tracks the S&P 500 as this trend began in 2000, has experienced a negative return. And based on the typical length of a secular bear, we could have several more years to go in this trend … (chart) And it’s not just over the last 30 years that this cycle has occurred. We can look back over the last century and see a continuum of secular markets, with bear trends starting in 1901, 1929, 1966, and 2000…’

YAHOO [BRIEFING.COM]: A barrage of economic reports provided plenty of catalysts for trade, but broader market muddled along for most of the session. Large-cap tech led the Nasdaq to a strong gain, though. Market participants got a preview of tomorrow's pivotal nonfarm payrolls report with the release of the May ADP Employment Change report, which indicated that private sector payrolls increased by 55,000 last month. However, that was actually weaker than the 70,000 increase that had been widely expected. Initial claims for the week ended May 29 totaled 453,000, which is on par with the 455,000 initial claims that many had come to expect. Continuing jobless claims climbed to 4.67 million, which is more than the 4.61 million that had been expected. The ISM Services Index for May came in at 55.4, which is in-line with expectations for a reading of 55.6. Factory orders for April increased 1.2%, which is a slower rate than the 1.7% increase that many had expected. In other economic news, first quarter nonfarm productivity increased of 2.8%, which is less than the expected 3.3% increase. Unit labor costs for the first quarter fell 1.3%, which is a softer decline than the 1.6% drop that had been widely expected. There was an underwhelming response to the large dose of data. Corporate headlines, which were generally limited, also did little to inspire. Roughly half of the monthly same-store sales reports in Briefing.com's coverage universe missed expectations. That left the group to lag the broader market for the better part of the session and finish with a fractional gain…

Reuters headline: wall street advances as tech soars … This harkens back to the dot.com days and I can personally attest to the fact that any thoughts that tech will save us, tech’s the thing, along with the next new tech thing is preposterous and without foundation so lacking is the same in terms of utility / added value except as to the greater efficiency with which the churn-and-earn commissionable wall street frauds are consummated.

**Oct 31, 2009 ... or surplus, as a percentage of GDP ... USD in Millions. Robert D. Arnott ... GSEs, the total public debt is now at 141% of GDP. ...    www.researchaffiliates.com**      Nov 23, 2008 ... But state and local debt as a share of GDP has quadrupled since 1945, ... as a percentage of the overall economy, recently exceeding the GDP for the first time ever. ... Rob Arnott is chairman of Research Affiliates ...    Robert Arnott ‘… the latest 12 months saw our public debt and unfunded obligations grow by 18% of GDP! No wonder the debt seems to have grown crushingly large. It’s noteworthy that, if a company computes its debt by ignoring off-balance-sheet and unfunded obligations, the management team wins an allexpense- paid extended holiday at Club Fed. Enron, anyone? But, if you write the laws, you can allow yourself these games. In emerging markets debt investments, managers are wary of sovereign credits when their deficits approach 5% of GDP. Yet here we are, after measuring on a more economically accurate level, running at twice this worrisome warning level… for over 25 years. The Debt If we borrow more than we earn for such an extended period of time, the debt picture won’t be pretty. It’s not. At 60% of GDP, the United States ranks about 25th in the world for indebtedness.1 But that’s not the whole story. To get the complete picture, we need to factor in state and local debt and GSEs. Note that most other (particularly developing) countries don’t have layers of autonomous public entities of this sort. Adding federal, state, local, and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company— only Japan, Lebanon, and Zimbabwe are higher. Add in household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balancesheet swaps and derivatives), and our total debt is 557% of GDP. Less than three years ago, our total indebtedness crossed 500% of GDP for the first time. As Figure 2 shows, apart from the shadow banking system we are most assuredly not deleveraging. Direct debt is rising, not falling. Add in the unfunded portion of entitlement programs and we’re at 840% of GDP. Yikes. No wonder the debt burden feels so crushing. What can’t happen, won’t happen. If we can’t afford our direct debt, we surely can’t afford our unfunded obligations. The stroke of a pen can take these programs to “means testing.” If retirees cannot enjoy Social Security or Medicare reimbursal until their savings are drained, the unfunded obligations disappear. This still leaving us true, direct debt of 5½ times our income. It is a daunting figure. How many people do you know that have owed five times their annual income and suffered no adverse consequences? …

Summer Streets Of Rage Predicted For Europe & U.S. Top historians, social and financial analysts, along with police bodies are all predicting that Europe and America are set to experience a summer of rage, with scenes mirroring the chaos we have seen unfold in Greece in reaction to draconian austerity measures now being imposed by governments in the west      Deflationary Depression and Purging To Come What now that stimulus packages are ending, money set to plunge, market control by insiders has to end, Fed doesnt need a monopoly, bond sales down, still high expectations for gold.      Strategic Defaults: Is It Morally Right To Decide To Simply Stop Paying Your Mortgage? In 2010, record numbers of Americans are defaulting on their mortgages. For most of them, it is because they simply cannot afford the mortgage payments any longer.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed.

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited.    US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’.     Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel.

6-2-10

Come on! Foreclosure / distressed sales at record levels, tax credits for purchases with money defacto bankrupt america doesn’t really have, and some short covering; so rally based on b* s* alone. This is a great opportunity to SELL / TAKE PROFITS!

This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.

Double Dip in Action: -2% U.S. GDP in Q3 Larry Doyle ‘…Since we first reported that our "trailing quarter" had slipped into contraction on January 15th, we have charted how the current 2010 version of the consumer contraction event compares with prior similar events in 2006 and 2008. The current event is significantly different; while it is not as severe as the 2008 contraction, it has already lasted longer without forming a clearly defined bottom. We know that if the GDP mirrors consumer activities (as at least 70% of it should, net of inventory adjustments), both the 2nd and 3rd quarters of 2010 should be contracting at a level of between 1% and 2%. If this isn’t a classic "W" shaped "double dip," it is at least the downward glide of a plane with sputtering engines. From our perspective the ‘economy’ lives where the consumer spends; everything else is merely the consequence of the downstream flow of commerce from the initial consumer "demand." For this reason the official GDP measurements poorly reflect what is happening in the real-time economy, because they merely capture backward-looking factory production levels far downstream, as augmented by governmental redistribution of earlier tax collections and new public debt. Even John Maynard Keynes would have had to admit that governmental stimulus has to ultimately cause increases in aggregate consumer demand for a real recovery to be happening. We simply aren’t seeing that yet. What is around the bend as we navigate the economic landscape? A double dip on our economic trail. Thanks to Rick Davis and the Consumer Metrics Institute for his fabulous work.’

Goldman Sachs sold $250 million of BP stock before spill The brokerage firm that’s faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something else: the stock of British oil giant BP.      Iran To Dump 45 Billion Euros For Gold Bullion & Dollars The Central Bank of Iran is set to dump a whopping 45 billion euros in exchange for gold bullion and dollars as Gulf states also prepare to flee from the ailing single currency amidst debt turmoil in Europe that threatens to disintegrate the entire region.       Euro to Go Under $1.20 ‘Almost Certainly’: Gartman The euro will drop even further against the dollar because Europe’s problems will not be easy to solve, Dennis Gartman, author of “the Gartman Letter,” told CNBC Tuesday.      VERY IMPORTANT AND OVERLOOKED REALITY: Why the fluoridation of public water supplies is illegal Municipalities all across America are currently dripping fluoride chemicals into their public water supply, dosing over a hundred million Americans with a chemical that they claim “prevents cavities.”      Into the Abyss: The Cycle of Debt Deflation Before It’s News

US manufacturing growth rate ’slowed in May’ BBC | The US manufacturing sector expanded for its 10th consecutive month in May, but at a slower rate, a survey says.

War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq.

Iran haze contains depleted uranium Tehran Times | The aerosol produced during impact and combustion of depleted uranium munitions can potentially contaminate wide areas around the impact sites or can be inhaled by civilians and military personnel.

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo** | The Federal Reserve stopped publishing M3 figures back in 2006.

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

        http://www.usdebtclock.org Get Real Time U.S. Debt Data

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

Turkish Parliament Calls for Review of Ties With Israel Lawmakers in the Turkish parliament are urging the government to review political, economic and military ties with Israel in the wake of Israel’s deadly raid on a Gaza-bound aid flotilla.       Gunman Goes On Rampage In UK, Kills 12 Twelve people have been killed by a gunman who went on the rampage across Cumbria in north-west England. The mass shooting is England’s worst since 1987, when gun fanatic Michael Ryan killed 16 people in Hungerford, Berkshire.     Israel rejects call for independent probe Israel began deporting all the foreign activists detained during a deadly raid on a Gaza-bound aid flotilla, as international pressure mounted for a full investigation of the incident.      Americans protest deadly Israeli attack In reaction to Israel’s deadly attack on a Gaza-bound humanitarian Flotilla, massive anti-Israeli protests have erupted across the United States.       Notch Up Another Disaster for Israel’s Well-Oiled Propaganda Machine An old Israeli saying describing various less-than-esteemed military leaders says: “He was so stupid that even the other generals noticed.” The same derisive remark could be applied almost without exception to the present generation of Israeli politicians.

Sec. State Clinton Calls for Israel to Investigate Itself in Flotilla Incident Kurt Nimmo | The globalist dog and pony show otherwise known as the United Nations has called for an investigation. What can you possibly expect from a clinton-american!     Al Qaeda Number 3 Killed… Again Steve Watson | Three really does seem to be the magic number.      Calls Increase for Government to Regulate Internet Journalists and Bloggers Kurt Nimmo | Corporate media is propaganda in the name of the state.      Damage that Could Last for Decades Greg Hunter | This gusher will guarantee a financial downturn this year.       Bilderberg 2010: Globalists Panic Over Euro Collapse Paul Joseph Watson | Elite to seek reassurances from Spanish leaders that ultimate agenda for global currency will not be derailed

Misleading Photos Used by Israeli Ministry of Foreign Affairs to Justify Killing Activists Kurt Nimmo | Governments tell pathological lies and it is the job of the corporate media to disseminate these lies.

Eyewitness and victim recounts Israeli flotilla attack Infowars.com | Woman on aid flotilla describes how unarmed passengers were beaten and had bags put over their heads.

Israel under pressure to lift Gaza siege JERUSALEM: Israel's deadly raid on a Gaza-bound aid flotilla has put huge pressure on the Jewish state to lift its blockade of the Hamas-ruled enclave.       Turkish activists get hero's welcome in Istanbul     Israeli PM defends Gaza blockade       'Israel wanted highest number of fatalities'        UN rights body sets probe into flotilla raid        Editorial: Another aid ship A seventh vessel with aid for Gaza was reportedly still steaming toward Palestine last night. The MV “Rachel Corrie” was apparently delayed in Cyprus for 48 hours by mechanical problems and was therefore not part of the Freedom Flotilla, which the Israelis intercepted so murderously on Monday. This further brave challenge to the illegal Israeli blockade by the Irish-flagged vessel is the more powerful because aboard her is a Nobel Peace laureate from Northern Ireland, Mairead Corrigan Maguire, who has insisted that there are no arms in the cargo.

Israel rejects new drive to ban nukes from Mideast The Associated Press - Amy Teibel

JERUSALEM - Israel, thought to be the Middle East's only nuclear power, has rejected a new UN call to come clean about its secretive nuclear program, calling it a "deeply flawed and hypocritical" act that ignores the threat posed by its sworn enemy ...    Diplomatic arm twisting breaks deadlock at nuclear NPT confab Xinhua    Israel rejects UN conference resolution on non-proliferation CNN

NASA Charged in New Climate Fakery: Greenhouse Gas Data Bogus Shock new evidence of a NASA scientist faking a fundamental greenhouse gas equation shames beleaguered space administration in new global warming fraud scandal.

30 Shocking Quotes About The Gulf Of Mexico Oil Spill That Reveal The Soul-Crushing Horror This Disaster Is Causing It is incredibly hard to put into words the absolute horror that is happening in the Gulf of Mexico right now. The millions of gallons of oil that have gushed into the Gulf of Mexico and BP’s efforts to fight the massive leak are turning the Gulf into a lifeless toxic stew of oil and chemicals.

Bilderberg 2010: Globalists Panic Over Euro Collapse The presence of Spain’s heavyweight political and financial leaders at this year’s Bilderberg conference is not just because the secretive annual confab is taking place just outside Barcelona – it’s because the Bilderberg elitists are panic stricken at the possibility that their embryonic global currency – the euro – could be heading for total collapse.      US Mint Out Of Not Only Silver But Gold American Eagles As Well      After following up with the Mint, any shipments and deliveries of American Eagle 2010 edition both gold and silver are TBD and the mint has no idea on when these will be received if at all this year.      Calls Increase for Government to Block First Amendment Speech and Regulate Internet Journalists and Bloggers Outrage is rising over a Michigan lawmaker’s plan to introduce a bill to license bloggers and internet-based journalists. The mere threat of retaliatory actions would be enough to dissuade many commentators from daring to issue a word of criticism or skepticism” and would result in self-censorship.

Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked overtime to make sure Vietnam POWs never came home. I think the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called "american heroe" john mccain was referred to by his fellow pows in Vietnam as something akin to the "songbird" inasmuch as he was constantly "singing" to his Viet-Cong captors to curry favor and better treatment? This has been documented with authority by Colonel David Hackworth. The same violates military code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up scenario, compromizing the false facade of far less than a heroe, is exactly what a criminal (lie of a) nation as america loves and encourages (get everyone's hands dirty so no-one dares to rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone asked how "wall street" has been "spared the spotlight" (and even was accorded protective legislation from their criminal culpability) and focus of inquiry, attention, and prosecution despite being the primary beneficiaries financial and otherwise of these scams (you know the wall street motto, "churn and earn"; huge conflicts of interest if not outright fraud)…’

Coalition wants UK space lift-off [ Don’t make me laugh! ]

Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to abandon its official policy of “ambiguity” on its possession of nuclear weapons as the international community meets at the United Nations in New York this week to consider banning such arsenals from the Middle East.

NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:

Launch of secret US space ship masks even more secret launch of new weapon

The Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”

OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).

NASA's New Asteroid Mission Could Save the Planet Space.com - Tariq Malik - ‎CAPE CANAVERAL, Fla. - President Barack Obama set a lofty next goal this week for Americans in space: Visiting an asteroid by 2025. Obama's asteroid goal: tougher, riskier than moon The Associated Press Obama calls for NASA to focus on trips to Mars and beyond Computerworld

New Boondoggle promised to save NASA boondoggle defacto bankrupt budget piece of pie. `And don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.`

First fake moonwalker blasts Obama's space plan msnbc.com - Bill Ingalls - The first man to pretend to walk on the moon blasted President Barack Obama's decision to cancel NASA's back-to-the-moon program on Tuesday, saying that not going with the new movie is “devastating” to america's boondoggle spaced out effort. Fake dutch 'moon rock' revealed a treasured piece at the dutch national museum - a supposed moon rock from the first manned lunar landing - is nothing more than petrified wood, ...bbc news bbc news | europe | fake dutch 'moon rock' revealed prized moon rock a fake - a piece of moon rock given to an overseas politician by the united states is actually a lump of petrified wood, museum authorities revealed yesterday. ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, ...    http://www.albertpeia.com/moonfraud.htm

In reality it is just a piece of petrified wood ... Another piece of evidence that shows again that apollo program is indeed a fake and a typical american fraud!

http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv

Editorial: US in quagmire Seeing the warm welcome extended to the Afghan president on his US trip, it is hard to believe that only weeks ago Washington was seething with anger and frustration at Hamid Karzai’s behavior and there were even dark mutterings by US officials that he might be mad.

War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq.        Sinking of the Cheonan: A Classic False Flag Operation Russia Today | Sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home.     .      Israel: IDF Troops Who Murdered Unarmed Innocent People Are ‘Brave Heroes’ The government of israel, aided by many quarters of the international media, is attempting to spin today’s deadly IDF assault on a humanitarian aid ship carrying supplies to Gaza as the fault of the murdered activists on board the vessel, ludicrously characterizing machine-gun carrying Israeli troops who killed over a dozen innocent people as the victims of the incident.

Murder on the high seas JERUSALEM: Israeli marines stormed aid ships bound for Gaza on Monday and at least 10 rights activists were killed, triggering a diplomatic crisis and an emergency session of the UN Security Council. European nations, as well as the United Nations and Turkey, voiced shock and outrage at the bloody end to the international campaigners' bid to break Israel's blockade of the Gaza Strip

Israeli American Microbiologist Linked to Deadly Fungus Kurt Nimmo | A report links labs in the United States and Israel to the Cryptococcus gatti fungus that has killed several people in the United States.

Iraqi doctors demand cancer probe Al Jazeera | Iraqi doctors believe depleted uranium from US military equipment used in the 2003 invasion is spreading cancer through the population. [This is all too true and real; and I’m surprised this hasn’t gotten more attention, coverage … well, maybe not that surprised ].

"What this means is that Neanderthals are not totally extinct. In some of us, they live on," Paabo … With regard to that extinction thing, I’d say they’re still working on it (ultimately, decades, extinction, the distinction, without a difference). Actually, prior to studying the compelling subject of Biological Anthropology (Michael Park text), I too had some misconceptions about the group known as Neandertals (recent spelling drops the ‘h’) and actually mis-referenced same by the stereotypical image of members of said clade even as the debate continues as to whether they are within the species homo sapiens or a separate species. I believe these to be distinctions without important differences, so humble the origins and evolution of man truly are. Parenthetically, I wonder what that anthropological scientist Heidi Klum thinks on the subject.

Neanderthals, Humans Interbred, DNA Proves

Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay     You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here     http://www.albertpeia.com/anthroindex1.htm

`Previously I wrote:`

`FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote:`

To Learn More About From Whence Man Came, This Link's For You

  [To the Professor at the beginning of the course]

   10-5-09 Postscript: Professor *****,
I felt compelled to thank you again for the add; not to curry your favor but indeed to express profound thanks inasmuch as this is probably the last formal course at a formal educational institution I'll ever take; and among the most important. While I had bought at discount a library-discarded 1993 Anthropology by Embers text, though meaning to read same never quite got to it. I am astounded by the substantial amount of time involved in the evolutionary process, not that I ever stopped to think about it, and one must come away with the sense of 'and all that...for this?'. This course should be required curriculum along with psychology, sociology, etc., but probably won't be owing to what is, as it should be, a very humbling educational experience for any member of the human race.
             Regards,
                                  Al Peia

[Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.]

[Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Don’t Tread On Me: A Refresher Course on the Constitution

`BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT RISK ...    ABOLISH THE CORRUPT, ECONOMICALLY WASTEFUL SO-CALLED SYSTEM, FROM MY DIRECT OBSERVATION AND EXPERIENCE .    (PREVIOUSLY ARCHIVED)`HOWEVER, THIS LATEST "CALIFORNIA/LA DISTRACTION" REQUIRES ELUCIDATION AS FOLLOWS:

·        ·         Response to App. Div. OSC

·        ·         STATE OF CALIFORNIA ethics complaint

·        ·         Response to Sup.Ct. OSC

·        ·         designation of record on appeal

·        ·         The so-called "order" appealed from.
How embarrassing for the superior court of the state of california!

·        ·         Typical corrupt banana republic america/california court

Dirty money digitally laundered … a wall street, atlantic city, and american story … a very bad one and [also see RICO case   http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf           http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]     Fraud: It’s Much Bigger Than Goldman Sachs       Regulatory reform debate obscures key fact: Everybody’s getting money bribes from Wall Street

Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare moment for one to say that a sleazy hypocrite like blago, who is on corrupt federale-connected mobster trump’s celebrity apprentice, happens to be correct based upon facts / reality and my own direct observation and experience and the law – Don’t forget to include corrupt federal judges as maryanne trump barry, sam alito, shiff, matz, hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken] (AP)   [Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case                  [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf       http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm         ]

Drudgereport: `DREAD IN THE MED: ISRAEL CONCERNED TURK NAVY WITH NEXT FLOTILLAJapanese prime minister intends to resign over U.S. Marine base... Developing...`

`Activists send new boat to challenge blockade...`
`Irish ship latest to try and breach embargo...`
`Thousands of Gazans rush for Egyptian border...`
`Turkey Slams u.s. Response as american war criminals they are ...`
`...Israeli gov't defends the Indefensible because they’re war criminals`
`'Next time we'll use more force'...`
`Ahmadinejad: 'israeli commandos are wild dogs (yes, they they are mad dogs)'...`
`...wants Netanyahu to (and netanayahu should) face trial`
`US consulate issues advisory for Israel...`
`JERUSALEM POST News Feed...`

`Israel faces int'l fury over flotilla...`
`Bloody raid...`
`Turkey warns of 'consequences'...`
`Israel in eye of storm...`
`Thousands protest, clashes in Athens...`
`Paris: Demonstrators tried to break into Israeli embassy... Oil sheen confirmed less than 10 miles from Florida beach... Developing...`
`Robots succeed, cut well pipe; oil gushes into Gulf... Gulf oil spill threat widens, BP shares drop... WHITE HOUSE: FLOW RATE OF BP'S SPILL COULD INCREASE BY 20% DURING NEW OPERATION...`
`'OIL COMING UP UNTIL AUGUST'... Israel recoils as USA wisely backs UN move...DAY 41: NO END IN SIGHT... U.S. Plans 'for Worst' in Gulf... Czech President: Euro Zone has failed... Feds Telling BP 'What to Do'...`

`Latest Attempt by BP to Plug Oil Leak in Gulf of Mexico Fails...`
`BP now throwing GOLF BALLS into the oil well...`
`Prepares Backup Plan...`
`Pelosi blames Bush admin...`
`Parish President: Obama 'Chewed Me Out'...`
`BP Buses In 400 Workers During Obama's Visit...`
`Maher: Obama Not Acting Like A 'Real Black' President...`

`'mafia king cuomo' Mocked At NY Convention... Dow Average Ends Worst May Since 1940...`     `Brutal...`
`Credit rating cut deals blow to Spain...`         `Debt Burden... WARS:` `US Prepares for Largest Battle in Afghanistan...`

`PAPER: Israel to deploy nuclear submarines in Persian Gulf... Bankruptcy talk spreads among California muni officials... BP Resumes Effort to Seal Oil Well After Daylong Halt...`
`Stops video of leaking pipe, blames dirty lens...`
`Spill could be twice the EXXON Valdez...`
`22-mile-long deep-sea plume discovered...`
`Oil washes over 100 miles of Louisiana coast...`
`Obama to Americans: Go to beaches; most still open...`
`Landrieu: President will pay political price... Issa: Job offer scandal could be Obama's 'Watergate'... 'Top Kill' Operations Start in Attempt to Plug Leaking Gulf Oil...`
`Spill hits over 100 miles of Louisiana coast...`[video] A Summer Of Slumping Stocks

`CHINA WISELY SHOULD SHIELD NKOREA`
`NKorea bracing, severing all ties with South....`
`New Chinese aggression..`
`Israel drill raises tensions... CBSNEWS POLL: Americans Pessimistic, Dissatisfied with Washington... MOODY'S: Debt Level, Spending Pose Risk to America's Aaa Credit Rating... Another Vacation? Obama schedules second since oil spill...`
`Withdrew to Grove Park Inn & Spa as flow began to grow...`
`BUT makes time to host fundraiser for Boxer...`
`FINALLY: Bows to pressure: Will visit Gulf Coast during vacation...`
`BUT Will skip Memorial Day ceremony at Arlington Nat'l Cemetery... ONLY to return for Paul McCartney concert! SYRIA: Obama has failed in peace efforts; Lost influence in Mideast... RASMUSSEN: OBAMA APPROVAL DROPS TO 44%...`
`Dem Freshmen Run Away...`
`63% Now Favor Repeal of HealthCare Law... READY FOR NEW ‘GULF OF TONKIN’ / WAR...`
`US plans naval exercises with SKorea... Gold Rising; Speculators buying faster than producers can mine...`
`US Plays Down European Crisis but China Worried...`
`Immelt: European economy 'teetering'...`wobama’s wet dream with new jive of New “International Order” despite nation’s defacto bankruptcy and policies that have left allies defacto bankrupt as well in jive session At West Point          `Uses teleprompters...` `Tepid applause from cadets: Cuts 'That's a lot of cheering' line from prepared remarks …`Sestak confirms WH job offer to get out of Senate race … to save specter whose specter is no more in those hallowed halls he sullied as less than inspector specter from JFK assassination, to financial assassination of the nation, etc. ... ... Anger mounts as oil blackens Louisiana coast... GOP takes House seat in Obama's Hawaiian home district.. Crisis Imperils Benefits Long Expected by Europeans... Britain faces aggressive cuts in 'age of austerity' having leapt like lemmings into american oblivion ... France poised to raise retirement age...
`Fiscal crises threaten Europe's generous benefits...`
`SPAIN SEIZES SAVINGS BANK IN RESCUE BID AS TALKS FAIL... Public beach in Louisiana closed as oil washes up... Mass layoffs spike led by manufacturing...`
`Report: CA borrowed $7 billion from feds to pay jobless benefits...`
`Nine NY workers retired with $100k+ pensions -- in their 30s... Stocks Drop Most in a Year on Economic Reports, European Debt Crisis...`
`Roubini: Stocks to Tumble Another 20%, Cash the Safest Place...`
`Strains Accumulate...`
`Fed official: Europe's crisis poses risks to USA...`
`Confusion over regulation moves trigger sell-offs... Unemployment spike largest in 3 months...`
`German Finance Minister: Markets Out of Control...`
`Greeks strikers march on parliament against cuts... Rand Paul wins KY Senate race…Specter loses...`
`Grim milestone: 1,000 Americans dead...`
`DEMSASTER: SENATE CANDIDATE 'LIED' ABOUT SERVING IN VIETNAM`
`DOW AT SAME LEVEL IT WAS -- 10 YEARS AGO!`
`Bankruptcies resume upward path... Mortgage delinquencies, foreclosures break records... State pensions becoming federal issue; Bail-out cost potentially more than $1T...`
`Greece May Take Legal Steps Against U.S. Banks for Crisis...`
`Euro Breakup Concerns Grow...`
`Germans lose faith...`
`Merkel: Rescue package 'just buys time'...` `Roubini Says Greece 'Tip of Iceberg' as Sovereign Debt Threatens Recovery...`
`Geithner: 'I Never Had A Real Job'… sounds like a plan!...`
`Tent City In New York Set Up In Hopes For Elevator Job...`      `camped out for 3 days for chance at getting an application`
`NATIONAL ENQUIRER CLAIMS OBAMA CHEATING SCANDAL... 'Hotel security video could topple Obama's presidency'...`
`GOLDMAN BOSS VISITED WHITE HOUSE AT LEAST 4 TIMES...`
`GOLDMAN SACHS CEO endorses Dem Banking Bill: 'Wall Street will benefit'...`
`GREECE CUT TO JUNK...    Doubts intensify...     Spreads to Portugal...`
Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous … might not like us… Oh pshaw! … Human nature, man’s inhumanity to man? … Such humble beginnings and evolutionary history … What’s not to like? … Besides, not to worry. With their advanced technologies that defy human understanding, the aliens already know you’re here … to stay. So, not to worry. After all, as we know from that documentary of that same name, ‘Earth Girls Are Easy’ … and then there’s photosynthesis on earth in a very big way also going for it! ...

Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen; at best, decades.

6-1-10

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b* s* story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions.

Bank Failures: The U.S. Economic Contagion        Euro slips after Germany's president resigns Clearly, to kohler’s credit, he must have realized how stupid his remarks in support of the Afghanistan misadventure were.      Warning Signs Of Full Spectrum Collapse Are Everywhere Giordano Bruno | All eyes have been focused on the Greek situation for the past month, but we cannot let this one storm of the financial crisis distract us from the other threats that lie just beyond the horizon.

Gold To $10,000? Peter Schiff thinks that is a real possibility — see page 45 of the current BusinessWeek. There is no doubt that when benchmarked against the CPI, money supply and GDP, gold can easily double from here.     Another Blatant EUR Intervention Leads To 150 pip EURUSD Move In Seconds With all the grace of a drunk Keynesian at an Austrian economists meeting, the Central Banks once again kill the EUR shorts and intervene to prop it up, for a ridiculous 250 pips intraday move.      Europe’s Coming Summer Of Discontent The summer of 2010 promises to be the most tumultuous summer in the short history of the European Union. The sovereign debt crisis sweeping the continent threatens to cause economic and political instability on a scale not seen in Europe for decades.

Stocks Fall in a Sinkhole: Dave s Daily (at TheStreet.com)       ECB warns of more bank loan losses (Reuters)        CitiFinancial to close 330 branches, 3 in Mo. (at bizjournals.com)

Personal Income, Spending Released: The Future Will Be Getting Worse

John Brown: Now, uncertainty has returned with a vengeance and the stock market has booked its first official 10% correction since this tenuous 'bull' market began in the spring of 2009. In recent days, markets have shown signs of life - but nascent rallies have been quickly smothered. I believe there are five fundamental reasons for this persistent uncertainty.

1)       First, the world's second most held currency, the euro, is threatened with possible extinction. The massive $750 billion bailout package for Greece will not cure Greece's dependence on entitlements, and will likely only buy time until a debt restructuring. The world is looking to major nations such as the United States, Germany, and even the United Kingdom to backstop the likely future funding obligations of bankrupt states such as Spain, Portugal, and Italy. However, these so-called 'major' nations have little or no money; they themselves have borrowed massively. The only real savior available for the euro is China. So, you can imagine the feeling in Brussels when the Financial Times reported this week that the Chinese government is "reviewing" its euro holdings in light of the spreading debt crisis. It is now dawning on investors that the euro may be down for the count. As a result, key support levels for the currency are giving way.

2)       Second, there is deep concern among investors that a lurching socialism may change Western economies fundamentally. Just this week, it was announced that the percentage of US personal income coming from private sector earnings hit an all-time low... just 41%! As a corollary, the percentage of income coming from direct government payments has risen sharply in recent years and is now at an all-time high. To support the growing welfare state, taxes on society's dwindling producers must increase. This is no way to grow an economy - and investors know it.

3)       Third, rates at which banks and finance houses lend to each other are rising. Although central banks continue to hold short term rates low, stoking ever more consumer borrowing and spending, businesses are increasingly starved for credit.

4)       Fourth …The machinations of the financial sector are almost universally blamed for the economic crisis, whether on CNN or C-SPAN. The politicians 'investigating' the 'greed' of Wall Street appear to be motivated more by revenge than risk reduction. With unabashed distortion of the facts, politicians forget that it was Congress that repealed the Glass Steagall Act (a set of regulations made necessary by government deposit insurance), pushed mortgage lenders Freddie Mac and Fannie May to lower their loan requirements, and approved entitlement programs that have sapped productivity from the American economy. They forget that it was the Federal Reserve that injected trillions of monopoly dollars into the world economy to rescue Washington from the last recession it created. These massive strategic errors were the direct fault of the US and other Western governments …

5)     The fifth factor spooking markets is Germany's reaction to the euro crisis. The government unexpectedly resorted to the same 'protective' regulations employed by the US in 2008, including banning naked short sales of the securities of select financial houses. In America, this type of measure fanned widespread suspicion that the government was worried about the prospects of the firms it selected for special protection. Many German banks have major exposure to Portugal, Italy, Greece and Spain (a.k.a. the PIGS). It is not surprising that the German government has tried to shield them from market punishment, but the measure is likely to backfire…

War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq.        Sinking of the Cheonan: A Classic False Flag Operation Russia Today | Sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home.     Steve Wynn Takes On Washington CNBC | Steve Wynn, a casino resort/real-estate developer who has been credited with spearheading the dramatic resurgence and expansion of the Las Vegas Strip, talks about the Fall of America.    Israeli convoy attack viewed critically by Russia A military action against a controversial aid convoy heading to the Gaza Strip that left 10 dead was “unjustified,” a Russian official told the Interfax news agency Monday.      America’s dead in Afghanistan since 2001 Full list of U.S. fatalities of the war in Afghanistan.    Sad milestone: Cost of US wars ‘passes $1 trillion’ The cost of the United States’ wars in Afghanistan and Iraq have cost taxpayers more than one trillion dollars, a Massachusetts nonprofit said Sunday, marking a grim milestone on the eve of the Memorial Day holiday

China Real Estate Bubble Bursts in Bond Market: Credit Markets         France warns on credit rating (Reuters)       The ECB Blasts Governmental Fear-Based Racketeering, Questions Keynesianism, Believes The Fed’s Powers Are Overestimated        `Czech President: Euro Zone has failed...`

China warns debt woes threaten global recovery China warned on Monday that Europe’s struggle to contain ballooning debt posed a risk to global economic growth, raising the specter of a double-dip recession.     France warns on credit rating France admitted on Sunday that keeping its top-notch credit rating would be “a stretch” without some tough budget decisions, following German hints that Berlin may resort to raising taxes to help bring down its deficit.     Spanish Voters Will Force The Government To Dissolve Before Major Austerity Measures Can Be Passed Spain’s ruling Socialist party, led by prime minister Jose Luis Rodriguez Zapatero, has seen its popular support collapse.        Fiat Money And Schemes Collapsing Goldman Sachs will get a hand slap, the Greek Tragedy continues, signs of growth not real, more market manipulation to report on, never incremental news, a broken system of risk-free trade and return.

Top German Bankers See Plot To Funnel Bailout Money To French Banks From the beginning, it’s been clear that the bailout of Greece would be a bailout in large part of French banks, owing in part to the fact that French banks had the biggest exposure.     Greece urged to give up euro THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.    Europe: A Continent Of Lies And Broken Promises; How The EU Elite Got It Wrong On The Euro Openeurope.org.uk has put together a paper of the most blatant half-truths, propaganda, and outright lies, abused by Europe not only over the past month, but also over the past 10 years, for the entire duration of the now rapidly collapsing eurozone experiment.     US Constitution May Be Suspended: War, National Emergency and “Continuity of Government” Peter Dale Scott | A small cabal was able to supersede the Constitution, and Congress has failed, despite repeated requests, to do anything about it.

Devices turn cellphones into credit card processors

Israeli convoy attack viewed critically by Russia A military action against a controversial aid convoy heading to the Gaza Strip that left 10 dead was “unjustified,” a Russian official told the Interfax news agency Monday.     Israel Attacks Unarmed Americans in International Waters The most outrageous possible scenario is unfolding off the coast of Gaza, where humanitarian peace activists including several U.S. doctors have been attacked in a deadly confrontation with Israeli forces.      US singles out Israel, calling for its membership in nuclear Non-Proliferation Treaty Washington’s unprecedented backing for a UN resolution for a nuclear-free Middle East that singles out Israel has both angered and deeply worried the Jewish state although officials are cagey about openly criticising their biggest ally.

“Attack against South Korean ship looks like false flag operation” While international investigators have accused North Korea of sinking a South Korean patrol corvette in March, China has taken a more cautious position.      Beijing suspects false flag attack on South Korean corvette WMR’s intelligence sources in Asia suspect that the March attack on the South Korean Navy anti-submarine warfare (ASW) corvette, the Cheonan, was a false flag attack designed to appear as coming from North Korea.      Analysts question Korea torpedo incident How is it that a submarine of a fifth-rate power was able to penetrate a U.S.-South Korean naval exercise and sink a ship that was designed for anti-submarine warfare?

Analysts question Korea torpedo incident Washington Post | How is it that a submarine of a fifth-rate power was able to penetrate a U.S.-South Korean naval exercise and sink a ship that was designed for anti-submarine warfare?     Gulf of Tonkin Redux: Did an American Mine Sink South Korean Ship? New America Media | Any attempt to falsify evidence and engage in a media cover-up for political purposes constitutes tampering, fraud, perjury and possibly treason.     Beijing suspects false flag attack on South Korean corvette Wayne Madsen | One of the main purposes for increasing tensions on the Korean peninsula was to apply pressure on Japanese Prime Minister Yukio Hatoyama to reverse course on moving the U.S. Marine Corps base off Okinawa.

`american sports hero and cage fighter 'rips out still-beating heart of training partner'...`A U.S. cage fighter ripped out the heart of his training partner while he was still alive after becoming convinced he was possessed by the devil, it was alleged today. Jarrod Wyatt also cut out Taylor Powell's tongue and ripped off most of his face in a brutal assault that police said looked like a scene from a horror film, officers said. They claim they found the 26-year-old standing naked over his friend's body with parts, including an eyeball, strewn around the blood splattered room in Klamath, California …

Israeli ships stalk pro-Palestinian aid flotilla (AP)      Hamas renews offer to end fight if Israel withdraws (Reuters)         Israel rejects call to join anti-nuclear treaty        `PAPER: Israel to deploy nuclear submarines in Persian Gulf...       Israel recoils as USA wisely backs UN move...`

New records show some lobbyists are top fundraisers for political c...

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD!

OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

Israel rejects new drive to ban nukes from Mideast The Associated Press - Amy Teibel

JERUSALEM - Israel, thought to be the Middle East's only nuclear power, has rejected a new UN call to come clean about its secretive nuclear program, calling it a "deeply flawed and hypocritical" act that ignores the threat posed by its sworn enemy ...    Diplomatic arm twisting breaks deadlock at nuclear NPT confab Xinhua    Israel rejects UN conference resolution on non-proliferation CNN

Nuke-free Mideast The call by the United Nations for a Mideast free of nuclear weapons offers yet again a new opportunity to bring Israel into the nonproliferation treaty process while also stopping Iran or any other regional power from acquiring a nuclear arsenal. The Israelis of course have denounced the decision by some 200 member signatories of the Nuclear NonProliferation Treaty (NPT), saying it is discriminatory because it singles them out … israel plays the jew card! … You can’t make this stuff up! How totally, but typically israeli, preposterous.

Regulators shut 5 banks as 2010 tally hits 78      3 Fla. banks, 1 each in Nev., Calif. shut down (AP)      FDIC: Failed Bank List http://www.fdic.gov/bank/individual/failed/banklist.html

Sell in May and Go Away, Indeed   [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ]

This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s*) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ]      Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy Glass-Steagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph.       Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006.

Europe: A Continent Of Lies And Broken Promises; How The EU Elite Got It Wrong On The Euro Openeurope.org.uk has put together a paper of the most blatant half-truths, propaganda, and outright lies, abused by Europe not only over the past month, but also over the past 10 years, for the entire duration of the now rapidly collapsing eurozone experiment.     One Out Of Every Ten U.S. Banks Is Now On The FDIC’s Problem List – Do You Know If Your Bank Is Safe? Do you know if your bank will be there next month? For a growing number of Americans, that is becoming a very real question.      “Civil Rights” and Total War William Norman Grigg | The chief accomplishment of the civil rights movement was not the validation of the individual rights of those victimized by government-imposed discrimination, but rather the validation and enhancement of federal power.     US acknowledges mistaken attack on Afghan civilians The US military acknowledged today killing 23 civilians and wounding 12 others earlier this year after mistaking them for a convoy of Taliban insurgents.      Too Many Wars Waged The “War on Drugs,” like the “War on Terror,” ends up being an undertaking with no definable victory in sight. No matter how vigorously the federal government prosecutes its “war” on drugs, people will still use drugs.      Third Giant Underwater Oil Plume Discovered Today, the Washington Post is reporting that a third giant underwater plume has been discovered.

According to the Debt Clock:

• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211

Click here to see the Debt Clock, which is updated every second.

• Total personal debt: $16.5 trillion
• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion

http://www.usdebtclock.org Get Real Time U.S. Debt Data

George W. Bush: ‘Starting Wars In Middle East Good For The Economy’ Take a wild guess who convinced George W. Bush that starting wars in the Middle East would be “good for the economy”? israel? … dumbya bush … worked like a charm!

COMMENTS

· NoMoBaama Says: June 1st, 2010 at 9:19 am I wish I could say that we have since learned since our days of support for moron, satanist dictators like this, but the blind acceptance of neocons like Palin, Romney and even the media darling Mike Huckster make me think otherwise. Anyone who touches the label of “Christian” seems to get a pass to use the war card for some really idiotic reasons. Recall, GW Bush did that also. Of course, “Christians” never discussed Bush’s nightly visits to the White House by a male prostitute, even though it was pretty obvious. I am sure they would also agree that war is good for the economy, makes your 401K rise, that is, until you get nuked and your your country is smoldering rubble. Then the economy seems less important. “Christians” out there need to recall what Christ taught about war, and decide who you are really following when you advocate it.

· Dilbert McGunnut Says: June 1st, 2010 at 5:24 am Bush must have read “Econ 101 for Warmongers and Dummies”. The whole 9/11, Iraq invasion, Pipelanistan invasion is all based on lies, lies, lies and hopefully WE the People are FINALLY waking up. Bush et al should be treated as war criminals.

·         STARMAN Reply:June 1st, 2010 at 5:46 am THE BUSH STRATEGY MUST HAVE WORKED ,,,, WERE SUCH A STRONG ECONOMY NOW .

· Vic Says: June 1st, 2010 at 6:10 am Nice to see some people are awake and do not fall in this propaganda of war economics.
This is a sign of degradation when a world must rely on destruction to create economy.But as long as they recrute soldiers, this will not change. When the good men and women start deserrting massivelly the military on this planet, things will start to change rapidly.Without soldiers the thugs war lords will have to fight their own fights and this we all know they are cowards when isolated.Being courageous has nothing to do with having a weapon our hands. Courage goes a long way above this coward manifestation of power trip.One day humanity will wake up massivelly might not be in our time of life but they will eventually create Peace and get rid of evil.May peace and Love guide our world.

· Billo Says: June 1st, 2010 at 6:49 am George W. Bush: ‘Starting Wars In Middle East Good For The Economy’ Now look at the economy 10 years after the Neo-con Zionists fiasco. We are financially ruined, just the way they wanted us to be and they the “perps” made out like bandits.

· line_doggie Says: June 1st, 2010 at 7:19 am Bush was simply continuing the agenda followed by his predeecessors, and the current President is continuing.

·         will hale Reply:June 1st, 2010 at 2:55 pm agreed!

·         THE LAST STAND Reply:June 1st, 2010 at 6:50 pm agreed!

·         Tom Reply:June 1st, 2010 at 7:23 pm Agreed!

US manufacturing growth rate ’slowed in May’ BBC | The US manufacturing sector expanded for its 10th consecutive month in May, but at a much slower rate, a survey says.     Home Owners Stop Paying Mortgages The New York Times | More than 650,000 households had not paid in 18 months      Warning Signs Of Full Spectrum Collapse Are Everywhere Giordano Bruno | All eyes have been focused on the Greek situation for the past month, but we cannot let this one storm of the financial crisis distract us from the other threats that lie just beyond the horizon.

Israeli Knesset Member: Israel Wanted High Number Of Fatalities A member of the Israeli Knesset, the legislative branch of the Israeli government, who was on board the Marmara ship when it was ambushed by IDF troops, has told reporters that the intention of the raid was to kill as many on board as they could in order to ward off others from attempting to reach Gaza by sea.      Witnesses deny that any of aid protesters were armed Three visibly shaken Germans, who experienced a deadly raid by the Israeli military on an aid flotilla bound for Gaza, denied on Tuesday that anyone on board was armed, according to the news wire service AFP.     Mavi Marmara Incident Sabotages Peace Process         israel: Next Time We’ll Use More Force’           Two ships still heading towards Gaza           In raw video, reporters claim Israelis fired on activists before boarding ship In what could be a serious blow to Israel’s narrative on the killing of at least nine humanitarian activists making their way to Gaza through international waters, raw video by an Al Jazeera producer, who was filming during the raid, appears to provide evidence that the IDF opened fire on the flotilla even before boarding it.      Israel’s Attack on Us All It is quite astounding that Israel has been able to create over the past 12 hours a news blackout, just as it did with its attack on Gaza 18 months ago, into which our main media organizations have willingly allowed Israeli spokespeople to step in unchallenged.      Three Killed In Gaza Airstrike As mossad Chief Says israel “Is Becoming A Burden On The US” It appears that tensions are escalating between Gaza and Isreal. The Jerusalem Post reports that 3 more Gaza civilians had been killed.      Israel releases footage of weapons haul ‘found’ on Gaza peace ship as activists give harrowing accounts of ‘lake of blood’ raid The Israeli military today released footage of weapons it says were found during deadly commando raids on a flotilla of ships bound for Gaza.      Israel jails 480 Gaza aid activists Israel has jailed 487 international activists captured during its deadly commando strike on a Gaza aid convoy, while 48 others are to be “expelled.”      Turkish Sources – Israeli Advance Target Assassination List Found on Flotilla Turkish sources and media revealed a document which shows that a death list had been prepared in advance by the Israelis, showing names and pictures of people on board of the ships to be murdered, who, according to Israel, were “involved in the International humanitarian aid for Gaza”.      Princess Diana ‘was killed for planning to expose senior Brits involved in the land mine trade’ Diana, Princess of Wales was killed because she planned to expose senior members of the British arms trade involved with land mines, a leading lawyer claimed today.      Israel’s Attack on Us All It is quite astounding that Israel has been able to create over the past 12 hours a news blackout, just as it did with its attack on Gaza 18 months ago, into which our main media organizations have willingly allowed Israeli spokespeople to step in unchallenged.

Israel Promises “More Force” to Stop Aid Ships Headed to Gaza Kurt Nimmo | Can a country that considers itself a mad dog and engages in nuclear blackmail be trusted?     Israeli Knesset Member: Israel Wanted High Number Of Fatalities Steve Watson | Navy Commander: “Next time we’ll use more force.”       Irish Nobel Peace Laureate, Former U.N. Diplomat Sail for Gaza Kurt Nimmo | If the Israeli military arrests and detains Corrigan-Maguire and Halliday it may well end up experiencing more international condemnation.       america’s Complicity in Evil Paul Craig Roberts | Americans will likely accept Israeli propaganda that Israelis were met by deadly fire when they tried to intercept an arms shipment to Palestinian terrorists.

Will israel be let off the hook, again? It all boils down to this: There is no law but israeli law, no legitimacy but israeli legitimacy and no truth but israel’s version of the truth. In spite of the shock, pain and anger that was felt across the world in reaction to israel’s bloody dawn attack against the humanitarian aid flotilla heading to Gaza on Monday, which killed and injured scores of international activists, the jewish state brushed aside condemnations and criticisms and appeared unrepentant and shameless.       Shoura Council strongly condemns israeli attack RIYADH: The Shoura Council has strongly condemned the brutal israeli attack on a humanitarian flotilla that led to the deaths of at least 10 people on Monday.        Israeli drone blows up three freedom fighters GAZA CITY: Three freedom fighters of the Popular Resistance Committee (PRC) were killed in an Israeli air strike north of the Gaza Strip, witnesses and medical sources said.

Brutal Thugs at Best, Deserving of the Moniker Given to Them by Some as ‘the Christ – killing jews (with roman muscle, to be fair)’ : Israel Forces Fired On Sleeping Civillians Under Cover Of Darkness Steve Watson | Heavily armed soldiers “began to shoot the moment their feet hit the deck.”        Gaza Aid Flotilla: Israel Will Once Again Get Away with Murder Kurt Nimmo | Israel will not suffer meaningful consequence for its brutal attack on a flotilla of ships headed for Gaza earlier today.       Israel: The Pariah of the International Community Pravda | The notion that Israel can get off scot-free after this latest act of terrorism is as unacceptable as it is true.      Israel Forces Fired On Sleeping Unarmed Civillians Under Cover Of Darkness While the Israeli government is praising it’s soldiers as heroes and saying they were acting in self defence by firing on unarmed civilians flying a white flag in international waters, one group involved with the Freedom Flotilla has a quite different story.      Gaza Aid Flotilla: Israel Will Once Again Get Away with Murder Israel will not suffer meaningful consequence for its brutal attack on a flotilla of ships headed for Gaza earlier today. Israel is basically allowed to kill anybody who opposes its annexation of Arab land and the wanton murder of Palestinians.      Israel: IDF Troops Who Murdered Unarmed Innocent People Are ‘Brave Heroes’ The government of israel, aided by many quarters of the international media, is attempting to spin today’s deadly IDF assault on a humanitarian aid ship carrying supplies to Gaza as the fault of the murdered activists on board the vessel, ludicrously characterizing machine-gun carrying Israeli troops who killed over a dozen innocent people as the victims of the incident.

Murder on the high seasJERUSALEM: Israeli marines stormed aid ships bound for Gaza on Monday and at least 10 rights activists were killed, triggering a diplomatic crisis and an emergency session of the UN Security Council. European nations, as well as the United Nations and Turkey, voiced shock and outrage at the bloody end to the international campaigners' bid to break Israel's blockade of the Gaza Strip.     Israel boat raid sparks condemnations, protests ANKARA, Turkey: Turkey withdrew its ambassador to Israel and called for an emergency session of the UN Security Council as condemnations erupted across Europe and the Arab world Monday over Israel's deadly commando raid on ships taking humanitarian aid to the blockaded Gaza Strip.     Editorial: Terror at dawn Israel has once again shown its true colors to the world with its murderous piracy in international waters. What Palestinian President Mahmoud Abbas has so rightly called “a massacre” saw the death of at least 10 peace activists on board the lead ship of the six-vessel Freedom Flotilla and the injury of scores others, as heavily armed Israeli commandos seized the convoy and sailed it toward their port of Ashdod. Israeli sources put the toll at nine. The full details of this outrage are not yet clear since the Israeli authorities are censoring all reports and used sophisticated jamming technology to halt media broadcasts from the vessels as they were assaulted.     Day of disgrace for u.s. and israel This morning a crime was perpetrated in the middle of the sea, by order of the government of Israel and the IDF Command. A warlike attack against aid ships and deadly shooting at peace and humanitarian aid activists was carried out.    Top US official keeps quiet on flotilla raid JEDDAH: The US Secretary of Homeland Security refused to condemn the violence aboard an aid ship between Israeli soldiers and activists that left at least 10 people dead.      EU demands inquiry into Israeli military action BRUSSELS: The European Union called for an immediate inquiry into deaths aboard aid ships seized by Israel's navy on Monday and urged Israel to allow the free flow of humanitarian aid to the Gaza Strip.

Barack Obama: Liar, Warlord, and Corporate Shill Stephen Lendman | What else to expect from a corporate shill president, spearheading the Gulf disaster coverup from day one, while claiming he’s been “in charge” since it happened, and it’s his “job to make sure that everything is done to shut this down.”

Yeah! A TV series is already in the works with the following theme song:

The capital hillbillies

Let met tell you the story ‘bout a former president named wobama,
Despite his actions not his words was unpopular in Alabama,
and then one day when things seemed goin’ mighty smooth,
When up from the Gulf came a bubblin’ crude,
Oil that is, Texas Tea Party.

Well the first thing you know wobama’s runnin’ scared,
Kenyan folk said gotta’ move away from there,
Said the South Pacific is the place you oughta’ be,
So they loaded up the boat and they moved to Hawaii.

Third verse, same as the first.

BP Commands Government to Strangle Off Media Coverage of Oil Gusher Kurt Nimmo** | You will not fully understand the severity of the situation until it is far too late.

Forecasts from Dent, Napier, and then Prechter: 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.

10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!”

The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses.

POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.

SELL IN MAY AND GO AWAY!

THE FORECASTS:
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 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.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline.

FOR THOSE WHO WANT TO SACRIFICE AMERICAN LIVES, RESOURCES, PEACE, AND PROSPERITY FOR ISRAEL, THE MESSAGE IN VERY STRONG TERMS SHOULD BE ‘MOVE TO ISRAEL’:

Lest We Forget This is #33 in AMEU's Public Affairs Series Americans for Middle East Understanding March, 2006 Many of the events catalogued here have been treated in depth in AMEU's bimonthly publication, The Link. website: www.ameu.org . Lest We Forget The Israeli lobby in Washington has successfully influenced the U.S. Congress to give billions of non- -repayable dollars each year to Israel on the premise that Israel's loyalty and strategic importance to the United States make it an ally worthy of such unprecedented consideration. Is it ? In his Farewell Address, George Washington warned Americans to avoid a passionate attachment to any one nation because it promotes "the illusion of an imaginary common interest in cases where no real common interest exists." In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Israeli actions over the past 53 years involving U.S. interests in the Middle East seriously challenge the "strategic asset" premise of the Israeli lobby. Some of these actions are compiled in the list that follows:
September 1953: Israel illegally begins to divert the waters of the Jordan River. President Eisenhower, enraged, suspends all economic aid to Israel and prepares to remove the taxdeductible status of the United Jewish Appeal and of other Zionist organizations in the United States.
October 1953: Israel raids the West Bank village of Kibya, killing 53 Palestinian civilians. The Eisenhower administration calls the raid "shocking," and confirms the suspension of aid to Israel. July 1954: Israeli agents firebomb American and British cultural centers in Egypt, making it look like the work of the Egyptian Muslim Brotherhood in order to sabotage U.S.- -Egyptian relations.
October 1956: Israel secretly joins with England and France in a colonial-style attack on Egypt's Suez Canal. Calling the invasion a dangerous threat to international order, President Eisenhower forces Israel to relinquish most of the land it had seized. 1965: 206 pounds of weapons grade uranium disappear from the Nuclear Materials and Equipment Corporation plant in Pennsylvania. Plant president is Zalmon Shapiro, a former sales agent for the Israel Defense Ministry. C.I.A. Director Richard Helms later charges that Israel stole the uranium.
June 1967: Israel bombs, napalms and torpedoes the USS Liberty, killing 34 Americans, wounding 171 others, and nearly sinking the lightly armed intelligence ship. The Chairman of the Joint Chiefs of Staff, Admiral Thomas Moorer, charges that the attack "could not possibly have been a case of mistaken identity." June 1967: Against U.S. wishes Israel seizes and occupies Syria's Golan Heights. June 1968: Israeli Prime Minister Golda Meir rejects U.S. Secretary of State William Rogers Peace Plan that would have required Israel to withdraw from the occupied territories; she calls upon Jews everywhere to denounce the plan.
March 1978: Israel invades Lebanon, illegally using U.S. cluster bombs and other U.S. weapons given to Israel for defensive purposes only. 1979: Israel frustrates U.S.-sponsored Camp David Accords by building new settlements on the West Bank. President Carter complains to American Jewish leaders that, by acting in a "completely irresponsible way," Israel's Prime Minister Begin continues "to disavow the basic principles of the accords." 1979: Israel sells U.S. airplane tires and other military supplies to Iran, against U.S. policy, at a time when U.S. diplomats are being held hostage in Teheran. July 1980: Israel annexes East Jerusalem in defiance of U.S. wishes and world opinion. July 1981: Illegally using U.S. cluster bombs and other equipment, Israel bombs P.L.O. sites in Beirut, with great loss of civilian life. December 1981: Israel annexes Syria's Golan Heights, in violation of the Geneva Convention and in defiance of U.S. wishes. June 1982: Israel invades Lebanon a second time, again using U.S. cluster bombs and other U.S. weapons. President Reagan calls for a halt of all shipments of cluster bomb shells to Israel. September 1982: Abetted by Israeli forces under the control of Defense Minister Ariel Sharon, Lebanese militiamen massacre hundreds of Palestinians in Beirut's Sabra and Shatila refugee camps. President Reagan is horrified and summons the Israeli ambassador to demand Israel's immediate withdrawal from Beirut. September 1982: Israeli Prime Minister Menachem Begin rejects President Reagan's Peace Plan for the occupied territories. January-March 1983: Israeli army "harasses" U.S. Marines in Lebanon. Defense Secretary Caspar Weinberger confirms Marine commandant's report that "Israeli troops are deliberately threatening the lives of American military personnel . . . replete with verbal degradation of the officers, their uniforms and country." March 1985: Israeli lobby in Washington pressures the U.S. Congress to turn down a $1.6 billion arms sale to Jordan, costing the U.S. thousands of jobs, quite apart from the financial loss to American industry. Jordan gives the contract to Russia. A frustrated King Hussein complains: "The U.S. is not free to move except within the limits of what AIPAC [the Israeli lobby], the Zionists and the State of Israel determine for it." October 1985: Israeli lobby blocks $4 billion aircraft sale to Saudi Arabia. The sale, strongly backed by the Reagan administration, costs the U.S. over 350,000 jobs, with steep financial losses to American industry. Saudi Arabia awards contract to England.
November 1985: Jonathan Jay Pollard, an American recruited by Israel, is arrested for passing highly classified intelligence to Israel. U.S. officials call the operation but "one link in an organized and well-financed Israeli espionage ring operating within the United States." State Department contacts reveal that top Israeli defense officials "traded stolen U.S. intelligence documents to Soviet military intelligence agents in return for assurances of greater emigration of Soviet Jews." December 1985: U.S. Customs in three states raid factories suspected of illegally selling electroplating technology to Israel. Richard Smyth, a NATO consultant and former U.S. exporter, is indicted on charges of illegally exporting to Israel 800 krytron devices for triggering nuclear explosions. April 1986: U.S. authorities arrest 17 persons, including a retired Israeli General, Avraham Bar-Am, for plotting to sell more than $2 billion of advanced U.S. weaponry to Iran (much of it already in Israel). General Bar-Am, claiming to have had Israeli Government approval, threatens to name names at the highest levels. U.S. Attorney General of New York calls the plot mind-boggling in scope. July 1986: Assistant Secretary of State Richard Murphy informs the Israeli ambassador that a U.S. investigation is under way of eight Israeli representatives in the U.S. accused of plotting the illegal export of technology used in making cluster bombs. Indictments against the eight are later dropped in exchange for an Israeli promise to cooperate in the case. January 1987: Israeli Defense Minister Yitzhak Rabin visits South Africa to discuss joint nuclear weapons testing. Israel admits that, in violation of a U.S. Senate anti-apartheid bill, it has arms sales contracts with South Africa worth hundreds of millions of dollars. Rep. John Conyers calls for Congressional hearings on Israel-South Africa nuclear testing. November 1987: The Iran-Contra scandal reveals that it was Israel that had first proposed the trade to Iran of U.S. arms for hostages. The scandal becomes the subject of the Tower Commission Report, Senate and House investigations, and the Walsh criminal prosecution inquiries. April 1988: Testifying before U.S. Subcommittee on Narcotics, Terrorism and International Operations, Jose Blandon, a former intelligence aide to Panama's General Noriega, reveals that Israel used $20 million of U.S. aid to ship arms via Panama to Nicaraguan Contras. The empty planes then smuggled cocaine via Panama into the United States. Pilot tells ABC reporter Richard Threlkeld that Israel was his primary employer. The arms-for-drugs network is said to be led by Mike Harari, Noriega's close aide and bodyguard, who was also a high officer in the Israeli secret services and chief coordinator of Israel's military and commercial business in Panama. June 1988: Mubarak Awad, a Palestinian-American advocate of nonviolence, is deported by Israel. The White House denounces the action, saying, "We think it is unjustifiable to deny Mr. Awad the right to stay and live in Jerusalem, where he was born." June 1988: Amnesty International accuses Israel of throwing deadly, U.S.-made gas canisters inside hospitals, mosques, and private homes. The Pennsylvania manufacturer, a major defense corporation, suspends future shipments of tear gas to Israel. November 1989: According to the Israeli paper Ma’ariv, U.S. officials claim Israel Aircraft Industries was involved in attempts to smuggle U.S. missile navigation equipment to South Africa in violation of U.S. law. December 1989: While the U.S. was imposing economic sanctions on Iran, Israel purchased $36 million of Iranian oil in order to encourage Iran to help free three Israeli hostages in Lebanon. March 1990: Israel requests more than $1 billion in loans, gifts, and donations from American Jews and U.S. government to pay for resettling Soviet Jews in occupied territories. President Bush responds, My position is that the foreign policy of the U.S. says we do not believe there should be new settlements in the West Bank or East Jerusalem. June 1990: Officials in the Bush administration and in Congress say that Israel has emerged as leading supplier of advanced military technology to China, despite U.S.'s expressed opposition to Israeli-Chinese military cooperation. September 1990: Israeli Foreign Minister David Levy asks the Bush administration to forgive Israel's $4.5 billion military debt and dramatically increase military aid. Israeli Defense Minister Moshe Arens expresses concern over expected $20 billion in U.S. arms sales to Saudi Arabia and asks for an additional $1 billion in military aid to Israel. Facing rising congressional opposition, White House backs off from plan to sell Saudi Arabia over $20 billion in military hardware. Bush administration promises to deliver additional F-15 fighters and Patriot missiles to Israel, but defers action on Israel's request for more than $1 billion in new military aid. Arens questions U.S.'s commitment to maintain Israel's military advantage in the Middle East. October 1990: Aliya cabinet chair Ariel Sharon encourages increase in settlement of Soviet Jews in East Jerusalem, despite his government's assurances to the U.S. that it would not do so. Bush sends personal letter to Prime Minister Shamir urging Israel not to pursue East Jerusalem housing. Shamir rejects appeal. November 1990: In his new autobiography, former President Reagan says Israel was the instigator and prime mover in the Iran-Contra affair and that then-Prime Minister Shimon Peres was behind the proposal. January 1991: White House criticizes Israeli ambassador Zalman Shoval for complaining that U.S. had not moved forward on $400 million in loan guarantees and that Israel had not received one cent in aid from allies to compensate for missile damage (in Gulf War). U.S. says comments are outrageous and outside the bounds of acceptable behavior. February 1991: Hours after long-disputed $400 million loan guarantees to Israel are approved, Israeli officials say the amount is grossly insufficient. Next day, Israel formally requests $1 billion in emergency military assistance to cover costs stemming from the Gulf War. March 1991: Israeli government rejects President Bush's call for solution to Arab-Israeli conflict that includes trading land for peace. In a report to Congress, U.S. State Department says Soviet Jewish immigrants are settling in the occupied territories at a higher rate than the Israeli government claims. During tour of West Bank settlements, Housing Minister Sharon says construction of 13,000 housing units in occupied territories has been approved for next two years. Plans contradict statement by Prime Minister Shamir, who told President Bush that the Israeli government had not approved such plans. April 1991: Prime Minister Shamir and several members of his cabinet reject U.S. Secretary of State Baker's suggestion that Israel curtail expansion of Jewish settlements in the occupied territories as gesture for peace. U.S. calls new Jewish settlement of Revava an obstacle to peace and questions Israel's timing, with Secretary Baker due to arrive in Israel in two days. Hours before Baker arrives, eight Israeli families complete move to new settlement of Talmon Bet. U.S. ambassador to Israel William Brown files an official protest with the Israeli government about establishment and/or expansion of settlements in the West Bank. Housing Minister Sharon says Israel has no intention of meeting U.S. demands to slow or stop settlements. Secretary Baker, in a news conference before leaving Israel, says Israel failed to give responses he needed to put together a peace conference. May 1991: Israeli ambassador to U.S. Zalman Shoval says his country will soon request $10 billion in loan guarantees from Washington to aid in settling Soviet Jewish immigrants to Israel. Secretary Baker calls continued building of Israeli settlements ?largest obstacle? to convening proposed Middle East peace conference. May 1991: President Bush unveils proposal for arms control in Middle East. U.S. administration confirms that Israel, which has not signed the Nuclear Non-Proliferation Treaty, has objected to provision on nuclear weapons. June 1991: Prime Minister Shamir rejects President Bush's call for Israeli acceptance of a greater United Nations role in proposed Arab-Israeli peace talks. July 1991: Israeli Housing Minister Sharon inaugurates the new Israeli settlement of Mevo Dotan in the West Bank one day after President Bush describes Israeli settlements as counterproductive. September 1991: President Bush asks Congress to delay considering Israeli loan guarantee request for 120 days. Ignoring pleas of U.S. administration, Israel formally submits its request. Prime Minister Shamir says U.S. has a moral obligation to provide Israel with loan guarantees, and that Israel would continue to build settlements in the occupied territories. October 1991: The Washington Post reports that President Bush waived U.S.-mandated sanctions against Israel after U.S. intelligence determined that Israel had exported missile components to South Africa. November 1991: Hours after concluding bilateral talks with Syria, Israel inaugurates Qela, a new settlement in the Golan Heights. Secretary of State Baker calls the action provocative. February 1992: Secretary of State Baker says U.S. will not provide loan guarantees to Israel unless it ceases its settlement activity. President Bush threatens to veto any loan guarantees to Israel without a freeze on Israel’s settlement activity. March 1992: U.S. administration confirms it has begun investigating intelligence reports that Israel supplied China with technical data from U.S. Patriot missile system. April 1992: State Department Inspector issues report that the department has failed to heed intelligence reports that an important U.S. ally widely understood to be Israel was making unauthorized transfers of U.S. military technology to China, South Africa, Chile, and Ethiopia. May 1992: Wall Street Journal cites Israeli press reports that U.S. officials have placed Israel on list of 20 nations carrying out espionage against U.S. companies. June 1992: U.S. Defense Department says Israel has rejected a U.S. request to question former General Rami Dotan, who is at center of arms procurement scandal involving U.S. contractors. July 1992: General Electric Company pleads guilty to fraud and corrupt business practices in connection with its sale of military jet engines to Israel. A GE manager had conspired with Israeli Gen. Rami Dotan to divert $27 million in U.S. military aid with fraudulent vouchers. U.S. Justice and Defense Departments do not believe that Dotan was acting in his own interest, implying that the government of Israel may be implicated in the fraud, which would constitute a default on Israel's aid agreements with the U.S. June 1993: U.S. House of Representatives passes bill authorizing $80 million per year to Israel for refugee settlement; bill passes despite $10 billion in U.S. loan guarantees to Israel and against evidence from Israeli economists that Israel no longer needs U.S. aid. October 1993: CIA informs Senate Government Affairs Committee that Israel has been providing China for over a decade with several billion dollars worth of advanced military technology. Israeli Prime Minister Rabin admits Israel has sold arms to China. November 1993: CIA Director James Woolsey makes first public U.S. acknowledgement that Israel is generally regarded as having some kind of nuclear capability. December 1993: Time magazine reports convicted spy Jonathan Pollard passed a National Security Agency listing of foreign intelligence frequencies to Israel that later was received by Soviets, ruining several billion dollars of work and compromising lives of U.S. informants.
December 1994: Los Angeles Times reports Israel has given China information on U.S. military technology to help in joint Israeli-Chinese development of a fighter jet. January 1995: When Egypt threatens not to sign the Nuclear Non-Proliferation Treaty because Israel will not sign, the U.S. says it will not pressure Israel to sign. July 1995: U.S. Ambassador to Israel Martin Indyk demands Israel abolish import barriers that discriminate against U.S. imports. November 1995: Israel grants citizenship to American spy Jonathan Pollard. April 1996: Using U.S.-supplied shells, Israel kills 106 unarmed civilians who had taken refuge in a U.N. peace-keeping compound in Qana, southern Lebanon. U.N. investigators, Amnesty International, and Human Rights Watch condemn the shelling as premeditated. The U.N. Security Council calls on Israel to pay reparations. Resolution is vetoed by the United States.
June 1996: U.S. State Department hands Israeli defense officials classified CIA report saying Israel has given China U.S. military avionics, including advanced radar-detection system and electronic warfare equipment.
December 1996: Israeli cabinet reinstates large subsidies, including tax breaks and business grants, for West Bank settlers. U.S. says the move is troubling and clearly complicates the peace process. Israeli government rejects President Clinton's criticism of the settlements and vows to strengthen them. February 1997: FBI announces that David Tenenbaum, a mechanical engineer working for the U.S. army, has admitted that for the past 10 years he has inadvertently passed on classified military information to Israeli officials. March 1997: U.S. presses Israel to delay building new settlement of Har Homa near Bethlehem. Prime Minister Netanyahu says international opposition ‘will just strengthen my resolve.’ June 1997: U.S. investigators report that two Hasidic Jews from New York, suspected of laundering huge quantities of drug money for a Colombian drug cartel, recently purchased millions of dollars worth of land near the settlements of Mahseya and Zanoah. September 1997: Jewish settlers in Hebron stone Palestinian laborers working on a U.S.-financed project to renovate the town’s main street. David Muirhead, the American overseeing the project, says the Israeli police beat him, threw him into a van, and detained him until the U.S. Consulate intervened. U.S. State Department calls the incident simply unacceptable. September 1997: Secretary of State Albright says Israel?s decision to expand Efrat settlement is not at all helpful to the peace process. Prime Minister Netanyahu says he will continue to expand settlements. May 1998: 13 years after denying he was not its spy, Israel officially recognizes Pollard as its agent in hopes of negotiating his release. June 1998: Secretary of State Albright phones Prime Minister Netanyahu to condemn his plan to extend Jerusalem’s municipal boundaries and to move Jews into East Jerusalem, particularly in the area adjacent to Bethlehem. Ignoring U.S. protests, Israel?s cabinet unanimously approves plan to extend Jerusalem's municipal authority. August 1998: Secretary Albright tells Prime Minister Netanyahu that the freeze in the peace process due to the settlement policy is harming U.S. interests in the Middle East and affecting the U.S.’s ability to forge a coalition against Iraq. September 1998: Dutch newspaper NRC Handelsblad reports that the Israeli airliner that crashed in Amsterdam in 1992 was not carrying gifts and perfume, as the Israelis claimed, but three of the four chemicals used to make sarin nerve gas. According to the plane's cargo manifest, the chemicals were sent from a U.S. factory in Pennsylvania to the top secret Israeli Institute for Biological Research. November 1998: Israeli Foreign Minister Sharon urges Jewish settlers to grab West Bank land so it does not fall under Palestinian control in any final peace settlement. May 1999: U.S. denounces Israel's decision to annex more land to the Ma'ale Adumim settlement. June 1999: The Israeli company Orlil is reported to have stolen U.S. night-vision equipment purchased for the Israeli Defense Forces and to have sold it to Far Eastern countries. April 2001: Prime Minister Sharon announces plans to build 708 new housing units in the Jewish settlements of Ma'ale Adumim and Alfe Menashe. U.S. State Department criticizes the move as provocative. May 2001: The Mitchell Committee (headed by former U.S. Senator George Mitchell) concludes that Jewish settlements are a barrier to peace. Prime Minister Sharon vows to continue expanding the settlements. May 2001: U.S. is voted off the United Nations Commission on Human Rights for the first time since the committee's establishment in 1947. The Financial Times of London suggests that Washington, by vetoing U.N. resolutions alleging Israeli human rights abuses, showed its inability to work impartially in the area of human rights. Secretary of State Colin Powell suggests the vote was because we left a little blood on the floor in votes involving the Palestinians. September 2001: Six days after the 9/11 terrorist attacks on America, Secretary of State Powell, when asked why America is hated in the Arab and Muslim world, acknowledges that the deep resentment and anger toward the United States is due to the Palestinian crisis. November 2001: Secretary of State Colin Powell calls on Israel to halt all settlement building which he says cripples chances for real peace and security. Benny Elon, a right-wing minister in the Sharon government, says the settlers aren’t worried. America has a special talent for seeing things in the short term, he says, explaining that what Powell said he said only to get Arab support for America’s anti-terrorism coalition against Afghanistan. March 2002: U.N. Sec. Gen. Kofi Annan calls for immediate withdrawal of Israeli tanks from Palestinian refugee camps, citing large numbers of Palestinians reported dead or injured. U.S. State Dept. says the United States has contacted Israel to urge that utmost restraint be exercised in order to avoid harm to the civilian population. April 2002: President Bush repeatedly demands an immediate halt to Israel's military invasion of the West Bank. Prime Minister Sharon rebuffs the President's withdrawal demands, saying the United States and other nations should not put any pressure upon us. April 4, 2002: President Bush demands that Israel halt its March 29 incursion into the West Bank, withdraw immediately, and cease all settlement building. Three days later, Secretary of State Powell says Bush's demand was a request. June 10, 2002: Prime Minister Sharon visits White House. When reporters ask about Israel's ongoing incursions into Palestinian towns, President Bush says Israel has a right to defend herself. September 30, 2003: President Bush signs the Foreign Relations Authorization Act, which identifies Jerusalem as Israel's capital. November 25, 2002. Israel asks the U.S. for $4-billion in military aid to defray the costs of fighting terrorism, plus $10-billion in loan guarantees to support its struggling economy. May 29, 2003: Israel announces construction of a new Jewish settlement of 230 housing units in East Jerusalem. July 29, 2003: Sharon rejects President Bush's appeal to halt construction of a separation wall that Israel is building on occupied Palestinian land. October 22, 2003: Former Navy lawyer Ward Boston, who had helped lead the military investigation into Israel's 1967 attack on the USS Liberty, files a signed affidavit stating that President Johnson and Secretary of Defense Robert McNamara had ordered those heading the naval inquiry to conclude that the attack was a case of mistaken identity, despite overwhelming evidence to the contrary. March 21, 2005: Prime Minister Sharon approves construction of 3,500 new housing units in the Israeli settlement of Maale Adumin to link it to East Jerusalem. The U.S. State Department has no comment. May 2005: Newsweek reports that in the late 1990s, lobbyist Jack Abramoff diverted more than $140,000 from charity contributions by Indian tribes to the Israeli settlement of Beitar Illit for sniper equipment and training of settler militias. AMEU Board of Directors Jane Adas (Vice President) Hugh D. Auchincloss, Jr. Atwater, Bradley & Partners, Inc. Edward Dillon John Goelet Richard Hobson, Jr. Anne R. Joyce Kendall Landis (Treasurer) Robert L. Norberg (President) Hon. Edward L. Peck Former U.S. Ambassador Lachlan Reed President, Lachlan International Talcott W. Seelye Former U.S. Ambassador to Syria Donald L. Snook James M. Wall AMEU National Council Hon. James E. Akins Isabelle Bacon William R. Chandler David S. Dodge Paul Findley Dr. Cornelius B. Houk Cynthia Infantino O. Kelly Ingram Moorhead Kennedy Ann Kerr John J. McCloy II David Nes Mary Norton C. Herbert Oliver Marie Petersen Dr. John C. Trever Don M. Wagner Miriam Ward, RSM AMEU Executive Director: John F. Mahoney AMEU grants permission to reproduce ?Lest We Forget? in part or in whole. AMEU must be credited and one copy forwarded to our offices at 475 Riverside Drive, Room 245, New York, New York 10115-0245. Telephone: 212- 870-2053; E-mail: [email protected]; website: www.ameu.org.

Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked overtime to make sure Vietnam POWs never came home. I think the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called "american heroe" john mccain was referred to by his fellow pows in Vietnam as something akin to the "songbird" inasmuch as he was constantly "singing" to his Viet-Cong captors to curry favor and better treatment? This has been documented with authority by Colonel David Hackworth. The same violates military code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up scenario, compromizing the false facade of far less than a heroe, is exactly what a criminal (lie of a) nation as america loves and encourages (get everyone's hands dirty so no-one dares to rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone asked how "wall street" has been "spared the spotlight" (and even was accorded protective legislation from their criminal culpability) and focus of inquiry, attention, and prosecution despite being the primary beneficiaries financial and otherwise of these scams (you know the wall street motto, "churn and earn"; huge conflicts of interest if not outright fraud)…’

Coalition wants UK space lift-off [ Don’t make me laugh! ]

Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to abandon its official policy of “ambiguity” on its possession of nuclear weapons as the international community meets at the United Nations in New York this week to consider banning such arsenals from the Middle East.

NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more:

Launch of secret US space ship masks even more secret launch of new weapon

The Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.”

OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).

NASA's New Asteroid Mission Could Save the Planet Space.com - Tariq Malik - ‎CAPE CANAVERAL, Fla. - President Barack Obama set a lofty next goal this week for Americans in space: Visiting an asteroid by 2025. Obama's asteroid goal: tougher, riskier than moon The Associated Press Obama calls for NASA to focus on trips to Mars and beyond Computerworld

New Boondoggle promised to save NASA boondoggle defacto bankrupt budget piece of pie. `And don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has returned from Mars as a space alien host body.`

First fake moonwalker blasts Obama's space plan msnbc.com - Bill Ingalls - The first man to pretend to walk on the moon blasted President Barack Obama's decision to cancel NASA's back-to-the-moon program on Tuesday, saying that not going with the new movie is “devastating” to america's boondoggle spaced out effort. Fake dutch 'moon rock' revealed a treasured piece at the dutch national museum - a supposed moon rock from the first manned lunar landing - is nothing more than petrified wood, ...bbc news bbc news | europe | fake dutch 'moon rock' revealed prized moon rock a fake - a piece of moon rock given to an overseas politician by the united states is actually a lump of petrified wood, museum authorities revealed yesterday. ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, ...    http://www.albertpeia.com/moonfraud.htm

In reality it is just a piece of petrified wood ... Another piece of evidence that shows again that apollo program is indeed a fake and a typical american fraud!

http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv

Editorial: US in quagmire Seeing the warm welcome extended to the Afghan president on his US trip, it is hard to believe that only weeks ago Washington was seething with anger and frustration at Hamid Karzai’s behavior and there were even dark mutterings by US officials that he might be mad.

War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq.        Sinking of the Cheonan: A Classic False Flag Operation Russia Today | Sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home.     .      Israel: IDF Troops Who Murdered Unarmed Innocent People Are ‘Brave Heroes’ The government of israel, aided by many quarters of the international media, is attempting to spin today’s deadly IDF assault on a humanitarian aid ship carrying supplies to Gaza as the fault of the murdered activists on board the vessel, ludicrously characterizing machine-gun carrying Israeli troops who killed over a dozen innocent people as the victims of the incident.

Murder on the high seas JERUSALEM: Israeli marines stormed aid ships bound for Gaza on Monday and at least 10 rights activists were killed, triggering a diplomatic crisis and an emergency session of the UN Security Council. European nations, as well as the United Nations and Turkey, voiced shock and outrage at the bloody end to the international campaigners' bid to break Israel's blockade of the Gaza Strip

Canada among world's most peaceful nations The United States and Iran finished in a virtual dead heat, and way down the list, in a magazine's assessment of the peacefulness of 121 countries. Meaningfully lawless uncivilized criminal nation america has added their tainted touch to bring Iraq down to dead last on the list; and, don’t forget war criminal nation america has probably played a role in Iran’s status in light of criminal america’s op’s to destabilize Iran. In sum, the study/ranking confirms if not understates my own direct observation and experience with meaningfully lawless criminal america.
Finland ranks as world's sixth most peaceful country Helsingin Sanomat
Norway tops peaceful nation list, Iraq rates lowest Radio Australia
Magazine's 'peace index' puts US, Iran near bottom of list, Canada ...
Norway tops peaceful nation list, Iraq (thanks to america) rates lowest Iraq (thanks to criminal nation america) was in last place, with Sudan and international war criminal nation israel just above. Some two-dozen indicators were used, including wars fought in the past five years, arms sales, prison populations and incidence of crime.
Britain drops down peace table Metro, UK - May 30, 2007
The wars in Iraq and Afghanistan have pushed Britain down into criminal america’s league of violent/unpeaceful nations.
Ghana: World's 40th most peaceful The Statesman Online, Ghana - Scandinavian countries are the most peaceful in the world. New Zealand ranks second and Denmark third on the list, which notably puts Japan near the top and ...
UAE Ranks Among World's Top 50 Peaceful Countries Bernama, Malaysia - ABU DHABI, May 31 (Bernama) -- The UAE is in the top 50 of the world's more peaceful nations, and is the third most peaceful Gulf country,
Iran, US have something in common: Both rank high in violence Detroit Free Press
The United States and Iran finished in a virtual dead heat, and way down the list, in a magazine's assessment of the peacefulness of 121 countries. Meaningfully lawless uncivilized criminal nation america has added their tainted touch to bring Iraq down to dead last on the list; and, don’t forget war criminal nation america has probably played a role in Iran’s status in light of criminal america’s op’s to destabilize Iran. In sum, the study/ranking confirms if not understates my own direct observation and experience with meaningfully lawless criminal america.
New Peace Index Ranks US Among Worst Nations Chosun Ilbo, South Korea - A new study has ranked Norway as the most peaceful country in the world, while placing the US near the bottom.
US ranks low, just above Iran on peace index China Daily, China - WASHINGTON - The United States is among the least peaceful nations in the world, ranking 96th between Yemen and Iran, according to a new index released on 5-31-07.
The data were drawn from the United Nations, the World Bank, peace groups and the magazine researchers' own assessments, Williamson said. "We are just mechanics and technicians behind the index," he said. Norway was rated as the country most at peace, followed by New Zealand, Denmark, Ireland and Japan. Canada placed eighth, behind Finland and Sweden. Iraq was in last place, with Sudan and international war criminal nation israel just above. The united states is among the least peaceful nations in the world. Some two-dozen indicators were used, including wars fought in the past five years, violence, organized crime, arms sales, prison populations and incidence of crime.
In sum, the study/ranking confirms if not understates my own direct observation and experience with meaningfully lawless criminal america.

10 Most peaceful

1. Norway
2. New Zealand
3. Denmark
4. Ireland
5. Japan
6. Finland
7. Sweden
8. Canada
9. Portugal
10. Austria

The least peaceful

97. united states Violent Crime Up For Second Year
112: Angola
113. Ivory Coast
114. Lebanon
115. Pakistan
116. Colombia
117. Nigeria
118. Russia
119. Israel 'COUNTDOWN' TO ISRAEL'S END Yeah!
120. Sudan
121. Iraq

`Former FBI head louie freeh, considered the most corrupt (and also the dumbest) director in FBI history, realizing it’s all coming back on him, the corrupt, incompetent jersey city boy, with few legitimate marketable skills, bought and paid for, cashed out and who endorses mob man Giuliani for 2008...`

Judicial Watch
... friendly page For Immediate Release Oct 8, 2002 Contact: Press Office 202-646-5188 LOUIS FREEH WILL NOT ESCAPE ACCOUNTABILITY Judicial Watch Lawsuits and Investigations Seek To Hold Him ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/2619.shtml - Click here

LOUIS FREEH WILL NOT ESCAPE ACCOUNTABILITY
... For Immediate Release Oct 8, 2002 Contact: Press Office 202-646-5188 LOUIS FREEH WILL NOT ESCAPE ACCOUNTABILITY Judicial Watch Lawsuits and Investigations Seek To Hold Him Accountable ...
Description: no description
http://www.judicialwatch.org/printer_2619.shtml - Click here

Judicial Watch
... CASE BY ENERGY DEPARTMENT WHISTLEBLOWER TO PROCEED AGAINST FORMER FBI DIRECTOR LOUIS FREEH NOTRA TRULOCK ALLEGES ILLEGAL FBI SEARCH AND SEIZURE IN RETALIATION FOR ARTICLE CRITICAL OF ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/1107.shtml - Click here

JUDICIAL WATCH VICTORY: APPEALS COURT ALLOWS CIVIL RIGHTS CASE BY ENERGY DEPARTMENT WHISTLEBLOWER TO PROCEED AGAINST FORMER FBI DIRECTOR LOUIS FREEH
... CASE BY ENERGY DEPARTMENT WHISTLEBLOWER TO PROCEED AGAINST FORMER FBI DIRECTOR LOUIS FREEH NOTRA TRULOCK ALLEGES ILLEGAL FBI SEARCH AND SEIZURE IN RETALIATION FOR ARTICLE CRITICAL OF ...
Description: no description
http://www.judicialwatch.org/printer_1107.shtml - Click here

Judicial Watch
... BUSH ADMINISTRATION EFFORT TO BLOCK CIVIL RIGHTS SUIT AGAINST FORMER FBI DIRECTOR LOUIS FREEH BY ENERGY DEPARTMENT WHISTLEBLOWER NOTRA TRULOCK (Washington, DC) Judicial Watch also announced ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/1761.shtml - Click here

Judicial Watch
... Contact: Press Office 202-646-5188 SUPREME COURT RULES AGAINST FORMER FBI DIRECTOR LOUIS FREEH Judicial Watch Wins Victory on Behalf of Client Notra Trulock Case to Proceed to Discovery ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/2814.shtml - Click here

JUDICIAL WATCH VICTORIES
... BUSH ADMINISTRATION EFFORT TO BLOCK CIVIL RIGHTS SUIT AGAINST FORMER FBI DIRECTOR LOUIS FREEH BY ENERGY DEPARTMENT WHISTLEBLOWER NOTRA TRULOCK (Washington, DC) Judicial Watch also announced ...
Description: no description
http://www.judicialwatch.org/printer_1761.shtml - Click here

SUPREME COURT RULES AGAINST FORMER FBI DIRECTOR LOUIS FREEH
... Contact: Press Office 202-646-5188 SUPREME COURT RULES AGAINST FORMER FBI DIRECTOR LOUIS FREEH Judicial Watch Wins Victory on Behalf of Client Notra Trulock Case to Proceed to Discovery ...
Description: no description
http://www.judicialwatch.org/printer_2814.shtml - Click here

Judicial Watch
... directed against him by Clinton administration officials, former FBI Director Louis Freeh, and the now thoroughly discredited FBI. Trulock’s First Amendment rights were violated by ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/3431.shtml - Click here

JUDICIAL WATCH VICTORY: JUDGE ORDERS CIA TO PRODUCE TRULOCK DOCUMENTS FOR REVIEW
... directed against him by Clinton administration officials, former FBI Director Louis Freeh, and the now thoroughly discredited FBI. Trulock’s First Amendment rights were violated by ...
Description: no description
http://www.judicialwatch.org/printer_3431.shtml - Click here

Judicial Watch
... Circuit. This reinstated case involves Trulock's claims against former FBI Director Louis Freeh for violating his constitutional rights. “The Bush Justice Department feared that if the Trulock ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/1431.shtml - Click here

Judicial Watch
... wiretap warrant applications by FBI agents (signed-off by the former FBI Director, Louis Freeh) to the Foreign Intelligence Surveillance Act (FISA) Court. Prior to September 11th, SA Wright ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/2469.shtml - Click here

Judicial Watch
... waiting for documents to be produced by the government. Notra Trulock’s case against Louis Freeh was settled in early 2004. Notra Trulock’s case against Wen Ho Lee ended with a summary judgment ...
Description: Judicial Watch is a non-profit, public interest law firm dedicated to fighting government corruption.
http://www.judicialwatch.org/ntrulock.shtml - Click here

TRULOCK CASE AGAINST WEN HO LEE DISMISSED AT REQUEST OF PRESIDENT BUSH
... Circuit. This reinstated case involves Trulock's claims against former FBI Director Louis Freeh for violating his constitutional rights. “The Bush Justice Department feared that if the Trulock ...
Description: no description
http://www.judicialwatch.org/printer_1431.shtml - Click here

FBI AGENT ROBERT WRIGHT SAYS FBI AGENTS ASSIGNED TO INTELLIGENCE OPERATIONS CONTINUE TO PROTECT TERRORISTS FROM CRIMINAL INVESTIGATIONS AND PROSECUTIONS
... wiretap warrant applications by FBI agents (signed-off by the former FBI Director, Louis Freeh) to the Foreign Intelligence Surveillance Act (FISA) Court. Prior to September 11th, SA Wright ...
Description: no description
http://www.judicialwatch.org/printer_2469.shtml - Click here

Notra Trulock v. Wen Ho Lee, et al.
... waiting for documents to be produced by the government. Notra Trulock’s case against Louis Freeh was settled in early 2004. Notra Trulock’s case against Wen Ho Lee ended with a summary judgment ...
Description: no description
http://www.judicialwatch.org/printer_ntrulock.shtml - Click here

It's Year Five, Do You Know Where Your Senators Are? OpEdNews

Rank	Countries	Amount
# 1	United States:	11,877,218
# 2	United Kingdom:	6,523,706
# 3	Germany:	6,507,394

Rank	Countries	Amount
# 1	United States:	11,877,218
# 2	United Kingdom:	6,523,706
# 3	Germany:	6,507,394
# 4	France:	3,771,850
# 5	Russia:	2,952,370
# 6	Japan:	2,853,739
# 7	South Africa:	2,683,849
# 8	Canada:	2,516,918
# 9	Italy:	2,231,550
# 10	India:	1,764,630
# 11	Korea, South:	1,543,220
# 12	Mexico:	1,516,029
# 13	Netherlands:	1,422,863
# 14	Poland:	1,404,229
# 15	Argentina:	1,340,529
# 16	Sweden:	1,234,784
# 17	Belgium:	973,548
# 18	Spain:	923,271
# 19	Chile:	593,997
# 20	Thailand:	565,108
# 21	Ukraine:	553,594
# 22	Austria:	552,411
# 23	Finland:	520,194
# 24	Denmark:	491,026
# 25	New Zealand:	427,230
# 26	Hungary:	420,782
# 27	Czech Republic:	372,341
# 28	Zimbabwe:	351,153
# 29	Norway:	330,071
# 30	Romania:	312,204
# 31	Switzerland:	307,631
# 32	Turkey:	286,482
# 33	Morocco:	283,702
# 34	Venezuela:	236,165
# 35	Portugal:	218,360
# 36	Colombia:	214,192
# 37	Malaysia:	167,173
# 38	Peru:	161,621
# 39	Bulgaria:	148,915
# 40	Uruguay:	134,010
# 41	Belarus:	132,867
# 42	Tunisia:	130,375
# 43	Slovakia:	107,373
# 44	Greece:	102,783
# 45	Croatia:	101,853
# 46	Lithuania:	92,646
# 47	Philippines:	85,776
# 48	Saudi Arabia:	84,599
# 49	Slovenia:	81,697
# 50	Ireland:	81,274
# 51	Hong Kong:	80,592
# 52	Iceland:	60,242
# 53	Zambia:	59,426
# 54	Estonia:	57,799
# 55	Latvia:	49,329
# 56	El Salvador:	44,762
# 57	Costa Rica:	40,263
# 58	Jamaica:	39,188
# 59	Kyrgyzstan:	38,620
# 60	Moldova:	36,302
# 61	Mauritius:	35,943
# 62	Bolivia:	31,138
# 63	Luxembourg:	26,046
# 64	Yemen:	24,066
# 65	Panama:	21,058
# 66	Macedonia, The Former Yugoslav Republic of:	19,814
# 67	Kuwait:	19,350
# 68	Burma:	18,301
# 69	Malta:	17,023
# 70	Azerbaijan:	15,520
# 71	Georgia:	15,029
# 72	Papua New Guinea:	13,292
# 73	Cyprus:	13,023
# 74	Armenia:	12,048
# 75	Oman:	11,782
# 76	Nepal:	8,872
# 77	Dominica:	7,857
# 78	Maldives:	7,026
# 79	Qatar:	5,838
# 80	Albania:	5,303
# 81	Seychelles:	4,297
# 82	Montserrat:	751
	Total:	63,531,202
	Weighted average:	774,770.8

Rank	Countries	Amount
# 1	United States:	11,877,218
# 2	United Kingdom:	6,523,706
# 3	Germany:	6,507,394

Rank	Countries	Amount
# 1	United States:	11,877,218
# 2	United Kingdom:	6,523,706
# 3	Germany:	6,507,394
# 4	France:	3,771,850
# 5	Russia:	2,952,370
# 6	Japan:	2,853,739
# 7	South Africa:	2,683,849
# 8	Canada:	2,516,918
# 9	Italy:	2,231,550
# 10	India:	1,764,630
# 11	Korea, South:	1,543,220
# 12	Mexico:	1,516,029
# 13	Netherlands:	1,422,863
# 14	Poland:	1,404,229
# 15	Argentina:	1,340,529
# 16	Sweden:	1,234,784
# 17	Belgium:	973,548
# 18	Spain:	923,271
# 19	Chile:	593,997
# 20	Thailand:	565,108
# 21	Ukraine:	553,594
# 22	Austria:	552,411
# 23	Finland:	520,194
# 24	Denmark:	491,026
# 25	New Zealand:	427,230
# 26	Hungary:	420,782
# 27	Czech Republic:	372,341
# 28	Zimbabwe:	351,153
# 29	Norway:	330,071
# 30	Romania:	312,204
# 31	Switzerland:	307,631
# 32	Turkey:	286,482
# 33	Morocco:	283,702
# 34	Venezuela:	236,165
# 35	Portugal:	218,360
# 36	Colombia:	214,192
# 37	Malaysia:	167,173
# 38	Peru:	161,621
# 39	Bulgaria:	148,915
# 40	Uruguay:	134,010
# 41	Belarus:	132,867
# 42	Tunisia:	130,375
# 43	Slovakia:	107,373
# 44	Greece:	102,783
# 45	Croatia:	101,853
# 46	Lithuania:	92,646
# 47	Philippines:	85,776
# 48	Saudi Arabia:	84,599
# 49	Slovenia:	81,697
# 50	Ireland:	81,274
# 51	Hong Kong:	80,592
# 52	Iceland:	60,242
# 53	Zambia:	59,426
# 54	Estonia:	57,799
# 55	Latvia:	49,329
# 56	El Salvador:	44,762
# 57	Costa Rica:	40,263
# 58	Jamaica:	39,188
# 59	Kyrgyzstan:	38,620
# 60	Moldova:	36,302
# 61	Mauritius:	35,943
# 62	Bolivia:	31,138
# 63	Luxembourg:	26,046
# 64	Yemen:	24,066
# 65	Panama:	21,058
# 66	Macedonia, The Former Yugoslav Republic of:	19,814
# 67	Kuwait:	19,350
# 68	Burma:	18,301
# 69	Malta:	17,023
# 70	Azerbaijan:	15,520
# 71	Georgia:	15,029
# 72	Papua New Guinea:	13,292
# 73	Cyprus:	13,023
# 74	Armenia:	12,048
# 75	Oman:	11,782
# 76	Nepal:	8,872
# 77	Dominica:	7,857
# 78	Maldives:	7,026
# 79	Qatar:	5,838
# 80	Albania:	5,303
# 81	Seychelles:	4,297
# 82	Montserrat:	751
	Total:	63,531,202
	Weighted average:	774,770.8

Rank	Countries	Amount
# 1	United States:	11,877,218
# 2	United Kingdom:	6,523,706
# 3	Germany:	6,507,394

Rank	Countries	Amount
# 1	United States:	11,877,218
# 2	United Kingdom:	6,523,706
# 3	Germany:	6,507,394

Rank	Countries	Amount
# 1	United States:	11,877,218
# 2	United Kingdom:	6,523,706
# 3	Germany:	6,507,394
# 4	France:	3,771,850
# 5	Russia:	2,952,370
# 6	Japan:	2,853,739
# 7	South Africa:	2,683,849
# 8	Canada:	2,516,918
# 9	Italy:	2,231,550
# 10	India:	1,764,630
# 11	Korea, South:	1,543,220
# 12	Mexico:	1,516,029
# 13	Netherlands:	1,422,863
# 14	Poland:	1,404,229
# 15	Argentina:	1,340,529
# 16	Sweden:	1,234,784
# 17	Belgium:	973,548
# 18	Spain:	923,271
# 19	Chile:	593,997
# 20	Thailand:	565,108
# 21	Ukraine:	553,594
# 22	Austria:	552,411
# 23	Finland:	520,194
# 24	Denmark:	491,026
# 25	New Zealand:	427,230
# 26	Hungary:	420,782
# 27	Czech Republic:	372,341
# 28	Zimbabwe:	351,153
# 29	Norway:	330,071
# 30	Romania:	312,204
# 31	Switzerland:	307,631
# 32	Turkey:	286,482
# 33	Morocco:	283,702
# 34	Venezuela:	236,165
# 35	Portugal:	218,360
# 36	Colombia:	214,192
# 37	Malaysia:	167,173
# 38	Peru:	161,621
# 39	Bulgaria:	148,915
# 40	Uruguay:	134,010
# 41	Belarus:	132,867
# 42	Tunisia:	130,375
# 43	Slovakia:	107,373
# 44	Greece:	102,783
# 45	Croatia:	101,853
# 46	Lithuania:	92,646
# 47	Philippines:	85,776
# 48	Saudi Arabia:	84,599
# 49	Slovenia:	81,697
# 50	Ireland:	81,274
# 51	Hong Kong:	80,592
# 52	Iceland:	60,242
# 53	Zambia:	59,426
# 54	Estonia:	57,799
# 55	Latvia:	49,329
# 56	El Salvador:	44,762
# 57	Costa Rica:	40,263
# 58	Jamaica:	39,188
# 59	Kyrgyzstan:	38,620
# 60	Moldova:	36,302
# 61	Mauritius:	35,943
# 62	Bolivia:	31,138
# 63	Luxembourg:	26,046
# 64	Yemen:	24,066
# 65	Panama:	21,058
# 66	Macedonia, The Former Yugoslav Republic of:	19,814
# 67	Kuwait:	19,350
# 68	Burma:	18,301
# 69	Malta:	17,023
# 70	Azerbaijan:	15,520
# 71	Georgia:	15,029
# 72	Papua New Guinea:	13,292
# 73	Cyprus:	13,023
# 74	Armenia:	12,048
# 75	Oman:	11,782
# 76	Nepal:	8,872
# 77	Dominica:	7,857
# 78	Maldives:	7,026
# 79	Qatar:	5,838
# 80	Albania:	5,303
# 81	Seychelles:	4,297
# 82	Montserrat:	751
	Total:	63,531,202
	Weighted average:	774,770.8

They're Killing the Microbiologists/Scientists List by Quayle Updated August, 2009

Date	Report	Actual	Reuters Estimate	Reuters Actual	Evaluation
9/17	UofM Conf	66.6	70.0	68.9	Worse
9/16	Philly Fed	-0.70	3.8	-7.7	Missed
9/16	Jobless Claims	450K	455K	451K	Better
9/16	Producer Price Index	+0.4%	+0.3%	+0.2%	Worst
9/15	Industrial Production	+0.2%	+0.2%	+1.0%	Worst
9/15	Empire Manuf Survey	4.14	5.00	7.10	Weakening
9/14	Business Inventories	+1.0%	+0.6%	+0.3%	Improving
9/14	Retail Sales	+0.4%	+0.3%	+0.4%	Better?
9/10	Wholesale Inventories	+1.3%	N/A	+0.1%	Improving
9/8	Consumer Credit	-$3.6 billion	-$3.5 billion	-$1.3 billion	Weakening
9/8	Beige Book	Widespread Signs of Deceleration	N/A	N/A	Weakening
9/3	Non-Farm Payroll	-54K	-90K	-131K	Better
9/3	Unemployment Rate	9.6%	9.6%	9.5%	Flat/Worsening
9/2	Factory Orders	+0.1%	+0.3%	-0.6%	Weak
9/1	Domestic Car Sales	8.3M	8.7M	8.9M	Weaker
8/25	New Home Sales	276K	340K	330K	Record Low
8/24	Existing Home Sales	3.83M	4.65M	5.37M	15 year low

Date	Report	Actual	Reuters Estimate	Reuters Actual	Evaluation
9/17	UofM Conf	66.6	70.0	68.9	Worse
9/16	Philly Fed	-0.70	3.8	-7.7	Missed
9/16	Jobless Claims	450K	455K	451K	Better
9/16	Producer Price Index	+0.4%	+0.3%	+0.2%	Worst
9/15	Industrial Production	+0.2%	+0.2%	+1.0%	Worst
9/15	Empire Manuf Survey	4.14	5.00	7.10	Weakening
9/14	Business Inventories	+1.0%	+0.6%	+0.3%	Improving
9/14	Retail Sales	+0.4%	+0.3%	+0.4%	Better?
9/10	Wholesale Inventories	+1.3%	N/A	+0.1%	Improving
9/8	Consumer Credit	-$3.6 billion	-$3.5 billion	-$1.3 billion	Weakening
9/8	Beige Book	Widespread Signs of Deceleration	N/A	N/A	Weakening
9/3	Non-Farm Payroll	-54K	-90K	-131K	Better
9/3	Unemployment Rate	9.6%	9.6%	9.5%	Flat/Worsening
9/2	Factory Orders	+0.1%	+0.3%	-0.6%	Weak
9/1	Domestic Car Sales	8.3M	8.7M	8.9M	Weaker
8/25	New Home Sales	276K	340K	330K	Record Low
8/24	Existing Home Sales	3.83M	4.65M	5.37M	15 year low

U.S. Stocks¹
Index²	Friday's Close	Week's Change	% Change Year-to-Date
DJIA	10150.65	-62.97	-2.66%
S&P 500	1064.59	-7.10	-4.53%
NASDAQ Composite	2153.63	-26.13	-5.09%
S&P MidCap 400	734.30	-2.22	1.05%
Russell 2000	617.08	6.41	-2.68%

U.S. Stocks¹
Index²	Friday's Close	Week's Change	% Change Year-to-Date
DJIA	10213.62	-89.53	-2.06%
S&P 500	1071.69	-7.56	-3.89%
NASDAQ Composite	2179.76	6.28	-3.94%
S&P MidCap 400	736.52	1.93	1.35%
Russell 2000	610.67	0.82	-3.69%

U.S. Stocks¹
Index²	Friday's Close	Week's Change	% Change Year-to-Date
DJIA	10303.15	-350.41	-1.20%
S&P 500	1079.25	-42.39	-3.21%
NASDAQ Composite	2173.48	-114.99	-4.22%
S&P MidCap 400	734.59	-37.34	1.09%
Russell 2000	609.85	-40.61	-3.82%

U.S. Stocks
Index	Friday's Close	Week's Change	% Change Year-to-Date
DJIA	9686.48	-457.33	-7.11%
S&P 500	1022.58	-54.18	-8.30%
NASDAQ Composite	2091.79	-131.69	-7.82%
S&P MidCap 400	702.29	-42.98	-3.36%
Russell 2000	601.37	-41.72	-5.16%

(1-7-08) With sloth-like reflexes and speed the lazy, fallible frauds on wall street now recognize, yes we’re already in a recession. Forget Bulls/Bears. Their new mascot: The Prehistoric Sloth. Sloths all, the lunatic/frauds on wall street are slothish on america.

SELLER

Lawrence York

· · Industrial production plunged 2.8% in September, the biggest drop since September 1974.

· · The Philadelphia Fed's manufacturing index slumped to its lowest level since October 1990.

· · The National Association of Home Builders' housing market index hit a record low.

· · The Fed's October Beige Book showed across-the-board weakening of activity in all 12 reporting districts.

· · September retail sales fell 1.2%, the biggest drop since Aug. 2005.

9-24-10

Business / Economic / Financial

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

Buffett to taxpayers: Get over your anger Bloomberg News | Au contraire - ‘Taxpayer anger against Obama and Congress …’ is appropriate; after all, it’s your money!

Jobless Claims Up 1st Time in 5 Weeks Zacks | Initial Claims for Unemployment Insurance climbed by 12,000 last week to 465,000. That is the first increase in five weeks.

New U.S. Home Sales Hold at Second-Lowest Level Ever Purchases were unchanged at a 288,000 annual pace, matching July as the second-lowest in data going back to 1963, figures from the Commerce Department showed today in Washington. The median price fell to the lowest level in more than six years.

Gold Climbs to $1,300 on Dollar Concern; Silver at 30-Year High Gold futures rose to a record $1,300 an ounce in New York as investors sought a protection of wealth and an alternative to a weakening dollar. Bullion traded at an all-time in London and silver reached the highest price since 1980.

BOJ Intervenes For Second Time In A Week, Fails The half-life of central bank interventions is getting shorter and shorter.

Nation / World

Feds Expand War On Terror, Raid Communist Antiwar Activists Kurt Nimmo | It will not be long before the government raids members of the patriot movement.

There Must Be Something More Daniel Taylor | Take a step back and look at the big picture.

Gold Breaks Psychological Barrier Kurt Nimmo | Gold has continued its astronomical ascent, reaching a new record-breaking high of $1,300 an ounce today.

Establishment Feigns Outrage At Ahmadinejad’s 9/11 Rant Paul Joseph Watson | Neo-Cons still embrace the official explanation behind the event that tripled the size of government and led to the feds targeting conservative Americans as domestic terrorists.

Killing Off the Small Farm: Alex Jones Talks with Judith McGeary Infowars.com | Alex talks with Judith McGeary, the Executive Director of FARFA, about the government plan to replace small family farms with large corporate factory farms.

Obamacare is even worse than critics thought Washington Examiner | Obamacare won’t decrease health care costs for the government.

The Choice Between Two Americas Scott Lazarowitz | The current America is one of Keynesian, socialist centralized economic social and defense planning, in which the government directs everything by force of gunpoint.

Why America Cannot Win in Afghanistan Infowars.com | An interview with Hamid Gul, the former director of Pakistan’s ISI.

Dollar Hits All Time Low Against Swiss Franc The USDCHD just printed at 0.9780, the lowest ever in history. The dollar obliteration, and the rush to safety away from the psychopaths of the Federal Reserve continues.

Buffett to taxpayers: Get over your anger Taxpayer anger against President Barack Obama and Congress is counterproductive because policy makers took measures including deficit spending to stimulate the economy, billionaire investor Warren Buffett told CNBC.

Bono’s ONE foundation under fire for giving little over 1% of funds to charity Daily Mail | The non-profit organisation set up by the U2 frontman received almost £9.6million in donations in 2008 but handed out only £118,000 to good causes (1.2 per cent).

Jobless Claims Up 1st Time in 5 Weeks Zacks | Initial Claims for Unemployment Insurance climbed by 12,000 last week to 465,000. That is the first increase in five weeks.

Is the Economy as Broke as Lehman Was? Michael Hudson | American homeowners are victims, not crooks.

State unemployment: Jobs picture gets worse in 27 states CNNMoney | On a state-by-state basis, the jobs picture continues to look a lot more grim in places like Nevada, Michigan and California.

Obama Administration Is ‘Anti-Business’: Jack Welch High unemployment may last for a long time because of the sluggish economy, bad politics and advances in technology, Jack Welch, author of “Straight from the Gut,” told CNBC Thursday.

Did the Fed Really Say Inflation Isn’t High Enough? Get ready everybody. Things are about to get a lot more expensive.

Manufacturing’s decline threatens national security, House panel hears The hollowing-out of the US’s industrial base means the country is risking its national security by being dependent on foreign contractors, experts told a congressional panel Wednesday.

Nation / World

Delaware Sends Infowars.com “First Offense Warning” for Sign Kurt Nimmo | The government of Delaware either is unaware that Alex Jones is not responsible for the sign, or is engaged in harassment.

Proposed Law Would Allow Justice Department to Shut Down Websites Kurt Nimmo | Law is the latest effort by the government to control and eventually roll back the free and open internet under the guise of protecting copyright.

Alex Jones: ‘UN a Nazi movement’ Russia Today | A growing number of Americans are increasingly frustrated with international groups like the UN, IMF and World Bank.

The Globalists Plan for a Coming World Currency Mark Matheny | “Give me control of a nation’s money and I care not who makes her laws.”

Proposed Law Would Allow Justice Department to Shut Down Websites The Senate Committee on the Judiciary will consider action today on a bill entitled Combating Online Infringement and Counterfeits Act, ostensibly designed to allow the Justice Department to combat copyright infringement.

Obama Admin predicts small scale terror… in time for elections, again? “Terrorism” concerns necessarily hinge on fear, and it is now completely predictable that an otherwise unpopular Obama Administration would roll out the threat of terror to bolster support for the 2010 elections.

Congressman Wants Overpopulation Myth To Be Taught In Schools A Democratic Congressman has called for schools and centres of education to “promote the agenda” of climate change and the idea that unfettered population growth is killing the planet.

Google’s Eric Schmidt: “when you post something, the computers remember forever” Google CEO Eric Schmidt went head-to-head with Stephen Colbert yesterday evening to discuss everything from data-mining to China to Schmidt’s “joke” about privacy.

State unemployment: Jobs picture gets worse in 27 states CNNMoney | On a state-by-state basis, the jobs picture continues to look a lot more grim in places like Nevada, Michigan and California.

U.S. household net worth drops Reuters | U.S. household wealth fell by $1.5 trillion in the second quarter.

The Dollar Is Just Getting Crushed, And It’s Fallen Through Its August Lows Oof. The dollar is still getting hammered, and it’s not like equities are rallying to make up for it.

Gold Hits Another Record as Dollar Tumbles On Fed Announcement It is yet another example of the indispensability of gold as a hedge against the bankster engineered economic implosion.

US House puts oceans, coasts under UN: Senate vote will seal the deal “It’s too late; it’ll just have to be stopped in the Senate,” Tom, the young male answering the phone in U.S. Rep. John Boehner’s (R-Ohio)Washington D.C. office, said about HR 3534 (CLEAR Act).

Israel again refuses to join nuclear Non-Proliferation Treaty It is against Israel’s interests to join a global anti-nuclear arms treaty and the UN atomic watchdog is overstepping its mandate in demanding it to do so, its nuclear chief said on Tuesday.

Orwellian Doublethink: Collapse Is Recovery When the National Bureau of Economic Research announced, after much deliberation apparently, that the economic recession ended in June, 2009, it was as if the news were broadcast from some other planet.

CNN Declares the Constitution Racist In a discussion about Texas governor Rick Perry, CNN’s Rick Sanchez told Wayne Slater of the Dallas Morning News that “people of color” consider the Constitution — in particular the Tenth amendment — racist.

9/11 research to be censored from ‘Project Censored’ Steve Watson | According to its directors, ‘Project Censored’ is facing censorship due to its ongoing commitment to cover 9/11 Truth stories.

Will Obama Force America To “Absorb A Terror Attack” To Save His Presidency? Paul Joseph Watson & Alex Jones | Ominous words suggest desperate administration could turn to false flag in bid to crush resistance against big government.

Alex Jones Talks About Humanity’s Struggle & Future Potential Steve Watson & Alex Jones | Or die before you physically perish.

Economic Collapse Leading to Privatized Police and Corporate Mercenaries Eric Blair | As America continues to implode, it appears that security will go to the highest bidder, leaving average citizens to fend for themselves.

U.S. household net worth drops Reuters | U.S. household wealth fell by $1.5 trillion in the second quarter.

For the Unemployed Over 50, Fears of Never Working Again New York Times | A growing number of people in their 50s and 60s are starting to worry that they may be discarded from the work force — forever.

Gold Hits Another Record as Dollar Tumbles On Fed Announcement Kurt Nimmo | Another example of the indispensability of gold as a hedge against the bankster engineered economic implosion.

For Sale: Welcome to United States of Tent Cities As the mortgage crisis cuts deep, real estate firms say over a million Americans may lose their homes to foreclosure this year.

Gold Is Not Going Up: The Dollar Is Collapsing Jim Rickards on CNBC talks about gold, the dollar and their relationship.

America Is Today In Worse Shape Than Japan During Its Lost Decade? BIS – the central banks’ central bank – agrees that Americans are in worse shape than the Japanese.

Biocratic Solution to Poverty and Disease? Eradicate the Human Jurriaan Maessen | This is the religion of the scientific dictatorship in a nutshell.

Second Amendment Group Made Terror Threat List in Pennsylvania Kurt Nimmo | Israeli company said violent militias would be at peaceful event held at the Pennsylvania capitol.

Global Tax Scam Shifts From Climate Change To Poverty Paul Joseph Watson | The elite are determined to rob the American people blind while creating a slush fund for world government by any means possible.

Latest Vaccine Propaganda: It Prevents Heart Attacks Kurt Nimmo | Government and Big Pharma are desperate to convince you to take their toxic vaccines.

American People To Congress: Shut Up And Get The Hell Out Of Office Americans are sending a pretty clear message to Congress members who have continually pushed hugely unpopular legislation this election year – shut up and get the hell out of office.

(1-7-08) With sloth-like reflexes and speed the lazy, fallible frauds on wall street now recognize, yes we’re already in a recession. Forget Bulls/Bears. Their new mascot:
The Prehistoric Sloth. Sloths all, the lunatic/frauds on wall street are slothish on america.