Gunfire Erupts
Inside trump Taj Mahal Casino, 1 Dead - Second Such Incident In A Year At
N.J. Mainstay Ends With Employee Killed – What else would you you expect from
a mobster’s casino in mob-infested jersey!
ANALYST FORECASTS: BULLS
AND 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 economyHOW MANY TIMES
CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR
FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST 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 Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing
index suffers unexpectedly severe decline…daaaah!, credit dard defaults at
record high, analysts concur that fundamentals don’t support stock rally and
that pac money(defacto bribes) might derail any meaningful reform/regulation
which is of concern to the frauds on wall street who should be prosecuted,
record loss of wealth, higher gas prices, job losses, higher interest rates /
yields, higher commodity prices, higher deficits, hyperinflation, record continuing
unemployment claims at 6.8 million, worthless Weimar dollar crashing,
money supply exploding with hyperinflation/higher interest rates coming, budget
deficit at new highs and trade deficit worse than expected, analyst who called
crash says inflationary depression, banks passed stress tests only with the
help of fraudulent change in accounting rules, banks still insolvent, toxic
assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end
of year, Obama/bernanke continuing failed policies of bush greenspan,
recommends getting out of Dodge and u.s. assets ,
new record for continuing unemployment claims, fed downgrades outlook that
previously provided b.s. for suckers’ rally, record low for new housing starts,
etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN
'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than
previously predicted 2.9% and big difference between not getting worse and
getting better, leading indicators up far more than expected … bull
s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital
requirements and oversight of the overseers/rating agencies (riiiiight!…same
old,same old - already have but no will to enforce existing laws, etc.),
analyst who called crash says inflationary depression, banks passed stress
tests only with the help of fraudulent change in accounting rules, banks still
insolvent, toxic assets even more toxic, dollar falling and a lot lower to go,
$100 + oil by end of year, Obama/bernanke continuing failed policies of bush
greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the
Fastest Pace in Two YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
(6-30) SECULAR
BEAR MARKET SUCKERS’ RALLY TO END WELL OFF SESSION 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 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW MANY TIMES
CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR
FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST 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 Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing
index suffers unexpectedly severe decline…daaaah!, credit dard defaults at
record high, analysts concur that fundamentals don’t support stock rally and
that pac money(defacto bribes) might derail any meaningful reform/regulation
which is of concern to the frauds on wall street who should be prosecuted,
record loss of wealth, higher gas prices, job losses, higher interest rates /
yields, higher commodity prices, higher deficits, hyperinflation, record
continuing unemployment claims at 6.8 million, worthless Weimar dollar
crashing, money supply exploding with hyperinflation/higher interest
rates coming, budget deficit at new highs and trade deficit worse than
expected, analyst who called crash says inflationary depression, banks passed
stress tests only with the help of fraudulent change in accounting rules, banks
still insolvent, toxic assets even more toxic, dollar falling and a lot lower
to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of
bush greenspan, recommends getting out of Dodge and u.s. assets 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 YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...The Next Bubble Is Here. Have
You Bought In? foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
Corporate
CFR Members Get Most of the Bailout Money New American | Treasury Secretary Timothy Geithner served as a
staff member of the New York City-based Council on Foreign Relations before
being hired in 2003 to head the New York City branch of the Federal Reserve
Bank.Watch out for the fake government stress tests
(they lie about everything!). Note the delay in the rollout. Bank analyst
Cassidy says bank plan a failure. Business week business analyst /reporter says
(tongue in cheek) the optimism (irrational exuberance) must be the advent of
spring and the birds chirping (in the heads of the wall street
lunatic/frauds…cukoos). Analysts/Economists comments include: slow release of
stress test results, details and accuracy of data crucial for stress tests
(good luck!), things have not bottomed out but pace of decline has slowed
somewhat, bleak outlook for GM, Chrysler and bankruptcy probably necessary
because of legacy costs, and public pension funds with ridiculously rich
benefits the next shoe to drop. Oxdown
Gazette sums up the crucial story |
‘The 12 trillion that is being floated to insolvent US banks is essentially
being looted in the paper economy’ (ie., churn and earn by wall street
fraudsters who must be prosecuted and forced disgorgement/forfeiture in the
massive securities fraud that still goes unmentioned though the source of this
economic debacle, etc.). Four more banks closed by regulators, this years closures
exceeding all of 2008 as depression 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 byPeter Cooper: Whatever the technical reason for the 25 percent rise in
the S&P over the past five weeks, or a more modest eight percent bounce in
GCC regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second
largest economy, Japan, has been unprecedented. Bad news coming … The stock market pattern in 2008-9
has so far been a mirror image of the crash of 1929-30 with a halving of prices
from the autumn followed by a 25 per cent rally from March lows. In April 1930
stocks moved sideways and then they crashed another 50 per cent into the
summer… New record
continuing unemployment claims in excess of 6 million, -11% for new home sales
(unexpected but stocks and even homebuilders rallied), Bloomberg reports $13
trillion (much unaccounted for) taxpayer/bailout funds spent/lent/stolen by who
knows what/where/how (ie.,replace stolen funds?, etc.), second largest mall co.
to bankruptcy with more to come along with more commercial real estate
foreclosures. ‘…initial
claims for the week ending April 11 totaled 610,000, which is down more than
expected from the prior week, but continuing claims climbed more than expected
to a new record of 6.02 million. Separately, housing starts disappointed
investors hoping to find signs of a recovery in home building. Housing starts
for March totaled 510,000, which was below the 540,000 starts that were
expected and down from the prior month. Meanwhile, building permits in March
totaled 513,000, which is below the 549,000 permits that were expected, down
from February…’
SUCKER'S
RALLY APPROACHING AN END byPeter Cooper: Whatever the technical reason for the 25 percent rise in the
S&P over the past five weeks, or a more modest eight percent bounce in GCC
regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second largest
economy, Japan, has been unprecedented. Bad news coming
… The stock market pattern in 2008-9 has so far been a mirror image of the
crash of 1929-30 with a halving of prices from the autumn followed by a 25 per
cent rally from March lows. In April 1930 stocks moved sideways and then they
crashed another 50 per cent into the summer. What possible reason is there for
optimism to believe that history will not repeat itself? Government stimulus
packages have more than likely been too small and too late to prevent another
down leg in stocks, and will take time to revive the real economy, if indeed
they can do so. They might just stop the worst possible scenario but are they
going to prevent the plunge downwards? Governments have not managed it so far. Consumers and
unemployment
…It will take more than weasel words from US bankers and ‘green shoots’ in the
waffle of President Obama to put things right. Eventually global stock markets
will reach a bottom but they are not close to having visited it just yet. Wall
Street and its friends are playing investors as suckers but they are in danger
of overdoing it. For once these guys are impoverished where will the next bunch
of fools come from? Goldman Sachs' (GS) results this week might well
mark the top of the rally, beyond that the only way is down.
Industrial
production down –13%, most since WW2. The wall street frauds celebrate increase
real estate sales…on increased foreclosures…riiiiight! U.S. foreclosure filings jump as
moratoriums endUS foreclosures up 24 percent in 1st
quarterJim Rogers Says Investors
Should Expect More 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 S**T STORIES
FOISTED AS B.S. TALKING POINTS FOR CONTINUING FRAUD/SPIKE IN STOCK PRICES FOR
CHURN AND EARN COMMISSIONING: WELLS FARGO RECEIVED $25 BILLION TAXPAYER MONEY/BAILOUT
FUNDS AND SHOWS (RECORD FOR THEM?) $3 BILLION QUARTERLY PROFIT- GOLDMAN
RECEIVED $10 BILLION PLUS UNDISCLOSED FED/ ULTIMATELY TAXPAYER MONEY AND
REPORTS QUARTERLY $1.8 BILLION PROFIT - MORGAN CHASE
RECEIVED $25 BILLION AND REPORTS QUARTERLY $2+ BILLION PROFIT – CITI
RECEIVED $25 BILLION AND REPORTS QUARTERLY $1 BILLION LOSS - BANK
OF AMERICA RECEIVED $45 BILLION AND REPORTS QUARTERLY $3+ BILLION PROFIT
AND SETS ASIDE $13 BILLION FOR LOAN LOSS RESERVES – MORGAN STANLEY RECEIVED $10
BILLION AND REPORTS QUARTERLY $1 BILLION LOSS - DO THE MATH (FIRST GRADE
ELEMENTARY SCHOOL KIDS COULD DO AS WELL, AND FOR FAR LESS PAY) - AT THAT RATE,
TAXPAYERS WILL SOON HAVE NOTHING LEFT FOR THEM TO TAX! WHAT FRAUDS! The Great Geithner CoverupWHAT TOTAL BULL S**T!…[The upshot is that the
fraud continues in churn-and-earn fashion with investors, taxpayer, etc.,
getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their
substantial crimes and booty which must be disgorged through prosecution,
especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. -
Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved;
hence, virtually all problems remain and there is but an infinitesimally small
fraction of the capital and resources necessary to solve them thanks to fraud,
incompetence, lack of knowledge/ability, greed, etc.]. U.S. Treasury asking banks keep quiet on
stress testsNew unemployment claims at high 654,000 praised as
positive number… riiiiight! …as continuing unemployment claims at record 5.84
million (real numbers even worse). Economy so bad that consumers can’t buy
goods so trade deficit shrank but this is a structural defect in u.s. economy
so not good news and consistent with bad news of still plunging retail sector. Najarian points out
that wall street always a circus, consolidation, robbing peter to pay paul,
take profits; while economist cite Reich that we’re in depression and
government as in land of fruits and nuts out of control. Earnings revised downward
for first quarter –36.5%, more weakness, more unemployment, inflation to come
on fast says Hogan, and insurance companies now que up at corporate
welfare/taxpayer bailout lines.In positing (suckers’) bear market rally and advocating hold
cash/sell stocks Hillary Kramer points to the preposterous on wall street where
bad news greated as good vis-ŕ-vis stocks (they call what wall street does
‘fraud’…in a rational world where they would already be in jail).Madman
Cramer – the ultimate contrarian indicator - CRAMER'S CALL: ANOTHER RALLY TOP INDICATOR
Greg 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
April 17 (Bloomberg) -- David Tice, the chief portfolio
strategist for bear markets at Federated Investors Inc., said the
Standard & Poor’s 500 Index will probably plunge about 62 percent.
He spoke during a Bloomberg Television interview today. The Federated Prudent
Bear Fund that he founded returned 6.7 percent last year as the S&P 500
plunged 38 percent, the most since 1937. Tice said the benchmark index for U.S.
stocks may slump to about 325. It closed today at 865.30. The measure has
surged 28 percent since March 9, the most in five weeks since the 1930s.
SUCKER'S
RALLY APPROACHING AN END byPeter Cooper: Whatever the technical reason for the 25 percent rise in the
S&P over the past five weeks, or a more modest eight percent bounce in GCC
regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second
largest economy, Japan, has been unprecedented. Bad news coming
… The stock market pattern in 2008-9 has so far been a mirror image of the
crash of 1929-30 with a halving of prices from the autumn followed by a 25 per
cent rally from March lows. In April 1930 stocks moved sideways and then they
crashed another 50 per cent into the summer. What possible reason is there for
optimism to believe that history will not repeat itself? Government stimulus
packages have more than likely been too small and too late to prevent another
down leg in stocks, and will take time to revive the real economy, if indeed
they can do so. They might just stop the worst possible scenario but are they
going to prevent the plunge downwards? Governments have not managed it so far. Consumers and
unemployment
…It will take more than weasel words from US bankers and ‘green shoots’ in the
waffle of President Obama to put things right. Eventually global stock markets
will reach a bottom but they are not close to having visited it just yet. Wall
Street and its friends are playing investors as suckers but they are in danger
of overdoing it. For once these guys are impoverished where will the next bunch
of fools come from? Goldman Sachs' (GS) results this week might well
mark the top of the rally, beyond that the only way is down.
Madman Cramer – the ultimate contrarian indicator - CRAMER'S CALL: ANOTHER RALLY TOP
INDICATOR Greg 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'
It bears
repeating, so preposterous was 3-23-09 Pavlov dogs rally [conditioning to
associate what’s good for fraudulent wall street, viz., privatizing profits –
still not one prosecution for what now is the largest fraud/scam/swindle in the
history of this planet – and socializing the losses, is somehow positive for
america/the economy by the magnitude of this suckers’ bear market rally and
prior market manipulations] when the same created the instant crisis in the
first instance (don’t worry about the frauds on wall street, they’ll get their
commissions again on the way down as they did in creating this financial
debacle/fraud as they clamor for more taxpayer/treasury money). They’re
still printing/creating those worthless Weimar dollars like mad, China Urges New Money Reserve to Replace Dollar ,don’t know
what they’re doing, are clueless, and disingenuously seek to divert attention
from the missing/stolen/bilked $14 trillion of taxpayer money with the
subterfuge of outrage over the relatively miniscule though not unimportant
million dollar bonuses (AIG, etc.), so-called fixes/plans, etc., so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! What the Pros Say: US Is Now
‘Bankrupt’ US is Already Bankrupt: AnalystU.S. Budget Office offers darker economic and deficit
outlookThe Geithner-Summers-Bernanke
Plan to Prop Up Asset Prices Has Failed U.N. panel says world should
ditch dollar
Fierman: How quickly things change…..
Some stats from today’s rally:
S&P: +54 (7.1%) to 823
Dow: +497 (+6.8%) to 7776
NYSE Up Volume: 1,866,836,012
NYSE Down Volume: 44,683,760
NYSE Total Volume: 1,914,836,622
It was just 2 weeks ago (March 9th) that the S&P closed at 12-year lows and
the stock market felt like it was forecasting the end of the world. We’ve now
rallied 22% in 2 weeks! But if we look at the catalysts for this rally, they really
don’t seem to justify such an explosive move. Citi said they were profitable in
the first two months of the year and JP Morgan (JPM) and Bank of America (BAC) said they were too. The Fed initiated some serious quantitative easing.
And now Geithner’s toxic asset plan this morning. I agree with the Capital
Spectator when he wrote this morning:
We’re skeptical
largely because the rally this month has drawn power primarily from a new round
of hope that Washington’s various experiments to right the economy will finally
hit pay dirt. Perhaps, but it’s not the stuff that powers sustainable rallies,
much less secular bull markets. We’re Sellers of This Rally!
Lawrence York
‘Treasury Secretary Geithner has released his plan to mop-up the
toxic assets held by banks that threaten their solvency and the global financial
system. Accordingly, the plan purposes that private equity firms partner with
the Fed to purchase bank assets at some discount set by the private firms at
auction. Then the Fed will leverage the purchase six-fold to buy more bank
assets and assume all the risk of leverage. In other words, private firms will
set the price and then put up half the initial purchase price. The Fed will
then put up non-recourse loans to purchase six times more debt at the same
price to be owned by the joint venture partners. If the deal works private
equity splits the booty equally. If the deal fails, the government loses
upwards to six times taxpayer's money and private equity loses only its
original equity match equal to 1/6 the total loss.
Flabergasted? Don't be. How often can you cut a deal where you get
to set the price and your partner puts in six times your money and you split
the profit. IF THESE DEAL TERMS DON'T UNDERSCORE WHY THE GOVERNMENT SHOULD NOT
HANDLE YOUR MONEY AND WHY THE GOVERNMENT SHOULD STAY OUT OF BUSINESS, WHAT
DOES? Other deal terms are that the Fed will designate the private equity
players, at least initially. Could it be that the Fed is creating another
pass-through mechanism to simultaneously bail out or reward its friends? If so,
look for Goldman Sachs (GS),
Merrill, Blackstone (BX),
Carlye Group, Texas Pacific Group, and perhaps Bear Stearns to be players. Look
also for the typical MOS of some Structured Investment Vehicle, not much
different from the Maiden Lane III SIV, to backstop or divert money where it
needs to be--by gratuitous selection that is. Oh, and never mind that Private
Equity may be joined by the Libyan Investment Authority (LIA and Private Equity
article by Financial Times) as Private Equity at
present is having a bit of a liquidity crunch with their own deflated, illiquid
assets. In short, the Geithner Toxic Asset Plan is just another bank bailout
and footnote to this era of 'Dark Capitalism" where profits are reaped and
losses socialized in an ever transparent way.’
Trevisani:
’…The beginning of quantitative easing calls all three ideas in question; it
increases the supply of dollars effectively lowering US interest rates well
below Europe’s; the need for such an unprecedented step undermines the hope for
a US recovery; and a devaluing dollar cannot be a safe haven. Add the projected
Federal deficits and the dollar begins to look very vulnerable. If the
Europeans go down the same quantitative road then the dollar’s disabilities may
be matched by the euro’s. But if they are not, then the Bernanke dollar call
may not be an option to buy but a call to sell…’ China
and most of the financial world outside the u.s. agrees with the latter. China Urges New Money Reserve to Replace 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. ByRichard Shaw
Analyst Andre Egleshion points to continuing effect
of credit default swaps and pegs the amount of the worthless, fraudulent
(previously sold, commissioned, repackaged, resold, re-commissioned, etc.)
securities at $600-$675 TRILLION, their continued effect on money pit AIG, that fed’s
received $11.7 trillion since 2008 yet refuses transparency as to where funds
spent, who received same, etc., agrees with comment that shockingly no
prosecutions yet, economy re-tooling, need for stiffer regulation, points
to historical fact that fiat currencies and private central banks have
consistently failed, sees hyperinflation with dollar weakness (printed/created
like mad) and higher oil. Hopes for funny assets [in addition to funny money, other fraud,
relaxation of rules/laws/enforcement (real asset values) (remember the
exemption from RICO garnered by fraudulent wall street-those campaign
contributions really pay off, etc.) ], spur suckers’ bear market short-covering
rally to keep
the suckers suckered and commission dollars flowing to the frauds on wall
street so SELL/SELL INTO
RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO
COME! NOW LISTEN HERE, FOR THIS IS TRUTH!: There
is not enough money in the entire world to cover the fraudulent securities
foisted/commissioned/ distributed/sold by the wall street frauds/perpetrators
which if assumed/guaranteed by the u.s. government (don’t forget that social
security/medicare are already technically insolvent/bankrupt - all
monies/reserves going into the general account and already and continually
spent) will only guaranty the insolvency of / worthlessness of the currency of
the u.s. treasury.Cost to buy protection against U.S. government
default surgesFrank
just said that he wants to prosecute those who’ve caused this crisis…waxman was
supposedly doing just that in part (fog of war fraud-360 tons of $100
dollar bills stolen), etc…. If they don’t do this as said, among others, they
should be forced resign as complicit. THERE IS NO MYSTERY HERE; HENCE, NONE
SHOULD BE AFRAID TO LOOK, PROSECUTE, AND FORCE DISGORGEMENT! Celente: U.S. Has Entered “The
Greatest Depression” …‘… Watch for fake reports
and continued jawboning/spin/b.s. regarding bailout/stimulus as they are
desperate yet remain protective of the criminals who caused the crisis with
their fraud in staggering amounts far beyond the substantial scam by madoff
($50 billion) who now audaciously from his $7 million NYC penthouse seeks
ownership of same along with $62 million (only in systemically fraudulent
america). Why are they not seeking disgorgement from the criminals who benefited
from the huge multi-trillion dollar fraud they perpetrated? No one yet has
asked tiny tim geithner where the missing $4 trillion at the fed is…Why? Then
there’s the $2 trillion in taxpayer money, the destination of which the fed
refuses disclosure of…Fed
Hides Destination Of $2 Trillion In Bailout Money…Why? How? This is
criminal activity of monumental proportion, yet protected by the bureaucratic
complicit frauds (I’ve experienced this directly in my RICO case), damaging lives here and abroad. Then there’s
also the illegal wars, war-profiteering, war crimes, etc., that have bankrupted
this nation, killed many innocents, etc., [remember, ie., the 360 tons of
hundred dollar bills flown into Iraq that democrats/land of fruits and nuts
henry waxman (doesn’t he look like a hedgehog or some other rodent) the lying
fraud talked endlessly about while republicans were at the helm, yet nothing…no
prosecutions…the frauds who stole that money should put same in the failed
‘stimulus fraud pot’…at the least, etc.].An analyst previously said 2011-2014 earliest for
bottoming at best.Another analyst
previously pointed out there has been not one prosecution thus far and the
frauds on wall street should be prosecuted and forced disgorgement.…[The upshot is that the fraud continues in churn-and-earn
fashion with investors, taxpayer, etc., getting burned for the sake of wall
street greed/fraud. The lunatic wall street frauds’ desperation linked to their
substantial crimes and booty which must be disgorged through prosecution,
especially since none of the real problems (hundreds of trillions of
fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount
at $600+trillion) have been addressed much less
solved; hence, virtually all problems remain and there is but an infinitesimally
small fraction of the capital and resources necessary to solve them thanks to
fraud, incompetence, lack of knowledge/ability, greed, etc.]. Analyst Frank Cochrane looks ahead to 4,000 to
6,000 on the DOW, 700 to 900 on the NASDAQ, and 425 to 625 on the S&P, and
says spending/stimulus programs will not work, a point on which he is correct
and the low end of his ranges closer to reality. Not Just a Few Bad Apples -
Corruption is Systemic in America In case you
believe that there are only “a couple of bad apples” in the United States, here
is an off-the-top-of-his-head (I could give many, many more including my RICO case) list of corruption by leading pillars
of american society.
HOW MANY TIMES CAN THE WALL STREET
FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY
(STILL NOT ONE PROSECUTION IN THE MOST 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 doubleJim Rogers Sells Dollars, Plans
to Short Treasuries ‘Sucker’s Rally Beginning To Unwind’ daaaah…?Calls grow to supplant dollar
as global currency China officials call for displacing
dollar, in timeTracking Two Depressions, 1929 and now
thisHOW MANY TIMES
CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR
FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST 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 Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing
index suffers unexpectedly severe decline…daaaah!, credit dard defaults at
record high, analysts concur that fundamentals don’t support stock rally and
that pac money(defacto bribes) might derail any meaningful reform/regulation
which is of concern to the frauds on wall street who should be prosecuted,
record loss of wealth, higher gas prices, job losses, higher interest rates /
yields, higher commodity prices, higher deficits, hyperinflation, record
continuing unemployment claims at 6.8 million, worthless Weimar dollar
crashing, money supply exploding with hyperinflation/higher interest
rates coming, budget deficit at new highs and trade deficit worse than
expected, analyst who called crash says inflationary depression, banks passed
stress tests only with the help of fraudulent change in accounting rules, banks
still insolvent, toxic assets even more toxic, dollar falling and a lot lower
to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of
bush greenspan, recommends getting out of Dodge and u.s. assets
, new record for continuing unemployment claims, fed
downgrades outlook that previously provided b.s. for suckers’ rally, record low
for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN
'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than
previously predicted 2.9% and big difference between not getting worse and
getting better, leading indicators up far more than expected … bull
s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital
requirements and oversight of the overseers/rating agencies (riiiiight!…same
old,same old - already have but no will to enforce existing laws, etc.),
analyst who called crash says inflationary depression, banks passed stress
tests only with the help of fraudulent change in accounting rules, banks still
insolvent, toxic assets even more toxic, dollar falling and a lot lower to go,
$100 + oil by end of year, Obama/bernanke continuing failed policies of bush
greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the
Fastest Pace in Two YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS
7-1-09, SELL / TAKE ANY PROFITS IN THIS SECULAR BEAR MARKET
SUCKERS’ RALLY PROGRAMMED TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the
Fastest Pace in Two Years] AND COMMISSION DOLLARS
FLOWING [ Goldman Sachs on pace for record bonuses: report
(Reuters)[$$] Big Pay Packages Return to Wall
Street as new fraud gains steam (at The Wall Street Journal Online)] BASED ON
CONTINUED BAD NEWS( ie., BUFFET: ECONOMY IN
'SHAMBLES'; NO SIGNS OF RECOVERY...Job losses / job concerns realistically
weigh on confidence, real estate values/prices continue downward trend as per
Case / Shiller Index (-18.1%, -21% in california) Gerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW MANY TIMES
CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR
FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST 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 Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage
Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing
index suffers unexpectedly severe decline…daaaah!, credit dard defaults at
record high, analysts concur that fundamentals don’t support stock rally and
that pac money(defacto bribes) might derail any meaningful reform/regulation
which is of concern to the frauds on wall street who should be prosecuted,
record loss of wealth, higher gas prices, job losses, higher interest rates /
yields, higher commodity prices, higher deficits, hyperinflation, record
continuing unemployment claims at 6.8 million, worthless Weimar dollar
crashing, money supply exploding with hyperinflation/higher interest
rates coming, budget deficit at new highs and trade deficit worse than
expected, analyst who called crash says inflationary depression, banks passed
stress tests only with the help of fraudulent change in accounting rules, banks
still insolvent, toxic assets even more toxic, dollar falling and a lot lower
to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of
bush greenspan, recommends getting out of Dodge and u.s. assets
, new record for continuing unemployment claims, fed
downgrades outlook that previously provided b.s. for suckers’ rally, record low
for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN
'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than
previously predicted 2.9% and big difference between not getting worse and
getting better, leading indicators up far more than expected … bull
s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital
requirements and oversight of the overseers/rating agencies (riiiiight!…same
old,same old - already have but no will to enforce existing laws, etc.),
analyst who called crash says inflationary depression, banks passed stress
tests only with the help of fraudulent change in accounting rules, banks still
insolvent, toxic assets even more toxic, dollar falling and a lot lower to go,
$100 + oil by end of year, Obama/bernanke continuing failed policies of bush
greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the
Fastest Pace in Two YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS
OF RECOVERY...foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS
7-1-09, 6-30-09, SECULAR BEAR MARKET SUCKERS’ RALLY TO END
WELL OFF SESSION 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 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW MANY TIMES
CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR
FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST 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 Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing index
suffers unexpectedly severe decline…daaaah!, credit dard defaults at record
high, analysts concur that fundamentals don’t support stock rally and that pac
money(defacto bribes) might derail any meaningful reform/regulation which is of
concern to the frauds on wall street who should be prosecuted, record loss of
wealth, higher gas prices, job losses, higher interest rates / yields, higher
commodity prices, higher deficits, hyperinflation, record continuing
unemployment claims at 6.8 million, worthless Weimar dollar crashing,
money supply exploding with hyperinflation/higher interest rates coming, budget
deficit at new highs and trade deficit worse than expected, analyst who called
crash says inflationary depression, banks passed stress tests only with the
help of fraudulent change in accounting rules, banks still insolvent, toxic
assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end
of year, Obama/bernanke continuing failed policies of bush greenspan,
recommends getting out of Dodge and u.s. assets 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 YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...The Next Bubble Is Here. Have
You Bought In? foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS
6-29-09, Worthless
dollar/High oil price stock rally…riiiiight!...Then there’s the madoff
propaganda event Fraudster Madoff gets 150 years,
with prosecutors patting themselves on the back when the reality is that there
has been not even one prosecution in the massive securities fraud which
benefited the wall street frauds greatly and make madoff look like a piker.Four banks fail, bringing 2009 tally to
19 more than all of 2008 at a total thus far of 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW MANY TIMES
CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR
FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST 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 Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing index
suffers unexpectedly severe decline…daaaah!, credit dard defaults at record
high, analysts concur that fundamentals don’t support stock rally and that pac
money(defacto bribes) might derail any meaningful reform/regulation which is of
concern to the frauds on wall street who should be prosecuted, record loss of
wealth, higher gas prices, job losses, higher interest rates / yields, higher
commodity prices, higher deficits, hyperinflation, record continuing
unemployment claims at 6.8 million, worthless Weimar dollar crashing,
money supply exploding with hyperinflation/higher interest rates coming, budget
deficit at new highs and trade deficit worse than expected, analyst who called
crash says inflationary depression, banks passed stress tests only with the
help of fraudulent change in accounting rules, banks still insolvent, toxic
assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end
of year, Obama/bernanke continuing failed policies of bush greenspan,
recommends getting out of Dodge and u.s. assets 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 YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...The Next Bubble Is Here. Have
You Bought In? , foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS 6-26-09, Worthless dollar/High oil price stock rally…riiiiight!...Then
there’s the madoff propaganda event Fraudster Madoff gets 150 years,
with prosecutors patting themselves on the back when the reality is that there
has been not even one prosecution in the massive securities fraud which
benefited the wall street frauds greatly and make madoff look like a piker.Four banks fail, bringing 2009 tally to
19 more than all of 2008 at a total thus far of 44Dollar Falls Most in Month as China Urges New Reserve
CurrencyGerald Celente speaks on Cap and Trade and other handicaps
to the US economyHOW MANY TIMES
CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR
FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST 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 Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing
index suffers unexpectedly severe decline…daaaah!, credit dard defaults at
record high, analysts concur that fundamentals don’t support stock rally and
that pac money(defacto bribes) might derail any meaningful reform/regulation
which is of concern to the frauds on wall street who should be prosecuted,
record loss of wealth, higher gas prices, job losses, higher interest rates /
yields, higher commodity prices, higher deficits, hyperinflation, record
continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing,
money supply exploding with hyperinflation/higher interest rates coming, budget
deficit at new highs and trade deficit worse than expected, analyst who called
crash says inflationary depression, banks passed stress tests only with the
help of fraudulent change in accounting rules, banks still insolvent, toxic
assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end
of year, Obama/bernanke continuing failed policies of bush greenspan,
recommends getting out of Dodge and u.s. assets 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 YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...The Next Bubble Is Here. Have
You Bought In? , foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS 6-26-09, SECULAR BEAR MARKET SUCKERS’ RALLY TO END
MIXED. HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO
THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST
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 YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...The Next Bubble Is Here. Have
You Bought In? foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS
6-25-09, HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL
REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE
PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF
OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE
PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON
NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO
FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY
BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN
DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD
/RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS
YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE
RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM
SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ]
TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the
Fastest Pace in Two Years] AND COMMISSION DOLLARS
FLOWING [ Goldman Sachs on pace for record bonuses: report
(Reuters)] BASED ON CONTINUED BAD
NEWS( ie., BUFFET: ECONOMY IN
'SHAMBLES'; NO SIGNS OF RECOVERY... , continuing
unemployment claims at or near record 627,000, weekly unemployment claims up
15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than
expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q ; soothing
words/b.s. from fed which previously predicted no recession that economy still
contracting but that the contraction is somewhat slowing…what b**l s**t!…,
analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation
owing to debasement of the dollar as well as deficit spending/pump-priming in
the trillions, joker stein/economy a mess and continued job losses, new home
sales down .6%; U.S. Home Prices Drop 6.8 Percent
in April as Foreclosures Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing
index suffers unexpectedly severe decline…daaaah!, credit dard defaults at
record high, analysts concur that fundamentals don’t support stock rally and
that pac money(defacto bribes) might derail any meaningful reform/regulation
which is of concern to the frauds on wall street who should be prosecuted,
record loss of wealth, higher gas prices, job losses, higher interest rates /
yields, higher commodity prices, higher deficits, hyperinflation, record
continuing unemployment claims at 6.8 million, worthless Weimar dollar
crashing, money supply exploding with hyperinflation/higher interest
rates coming, budget deficit at new highs and trade deficit worse than
expected, analyst who called crash says inflationary depression, banks passed
stress tests only with the help of fraudulent change in accounting rules, banks
still insolvent, toxic assets even more toxic, dollar falling and a lot lower
to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of
bush greenspan, recommends getting out of Dodge and u.s. assets
, new record for continuing unemployment claims, fed
downgrades outlook that previously provided b.s. for suckers’ rally, record low
for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN
'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than
previously predicted 2.9% and big difference between not getting worse and
getting better, leading indicators up far more than expected … bull
s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital
requirements and oversight of the overseers/rating agencies (riiiiight!…same
old,same old - already have but no will to enforce existing laws, etc.),
analyst who called crash says inflationary depression, banks passed stress
tests only with the help of fraudulent change in accounting rules, banks still
insolvent, toxic assets even more toxic, dollar falling and a lot lower to go,
$100 + oil by end of year, Obama/bernanke continuing failed policies of bush
greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the
Fastest Pace in Two YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS
6-24-09, SECULAR BEAR MARKET SUCKERS RALLY CONTINUES FOR MIXED
CLOSE TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the
Fastest Pace in Two Years] AND COMMISSION DOLLARS
FLOWING [ Goldman Sachs on pace for record bonuses: report
(Reuters)] BASED ON CONTINUED BAD
NEWS( ie., BUFFET: ECONOMY IN
'SHAMBLES'; NO SIGNS OF RECOVERY...
, soothing
words/b.s. from fed which previously predicted no recession that economy still
contracting but that the contraction is somewhat slowing…what b**l s**t!…,
analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation
owing to debasement of the dollar as well as deficit spending/pump-priming in
the trillions, joker stein/economy a mess and continued job losses, new home
sales down .6%; foreclosure sales up 2.4%, prices down 17% year
over year, world economy to shrink by worse than previously
predicted 2.9% and big difference between not getting worse and getting better,
market got ahead of itself, stalled out, still
depression/more job losses, higher oil-gas prices / higher interest rates /
heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t)
the labor dept. far better than expected job numbers by increased debt
(spending) to produce same is not economically sound or sustainable, viz.,
record spending with record low revenues, rating cuts for bank sector, analysts
concur in significant 5-15% (reality says 15-25%) pullback/correction for
stocks , institutional selling, industrial production/construction down
1.1%, housing starts allegedly up but if believed will only increase the
plethora of unsold inventories, empire manufacturing index suffers unexpectedly
severe decline…daaaah!, credit dard defaults at record high, analysts concur
that fundamentals don’t support stock rally and that pac money(defacto bribes)
might derail any meaningful reform/regulation which is of concern to the frauds
on wall street who should be prosecuted, record loss of wealth, higher gas
prices, job losses, higher interest rates / yields, higher commodity prices,
higher deficits, hyperinflation, record continuing unemployment claims at 6.8
million, worthless Weimar dollar crashing, money supply exploding with
hyperinflation/higher interest rates coming, budget deficit at new highs and
trade deficit worse than expected, analyst who called crash says inflationary
depression, banks passed stress tests only with the help of fraudulent change
in accounting rules, banks still insolvent, toxic assets even more toxic,
dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke
continuing failed policies of bush greenspan, recommends getting out of Dodge
and u.s. 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 YearsBUFFET: ECONOMY IN 'SHAMBLES'; NO
SIGNS OF RECOVERY...The Next Bubble Is Here. Have
You Bought In? foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS
6-23-09, SECULAR BEAR MARKET SUCKERS RALLY INTACT TO KEEP SUCKERS
SUCKERED [ Insiders Exit Shares at the
Fastest Pace in Two Years] AND COMMISSION DOLLARS
FLOWING [ Goldman Sachs on pace for record bonuses: report
(Reuters)] BASED ON CONTINUED BAD
NEWS( ie., U.S. Home Prices Drop 6.8 Percent
in April as Foreclosures Riseforeclosure
sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical
Damage Stocks tumble on bleak outlook for world economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing
index suffers unexpectedly severe decline…daaaah!, credit dard defaults at
record high, analysts concur that fundamentals don’t support stock rally and
that pac money(defacto bribes) might derail any meaningful reform/regulation
which is of concern to the frauds on wall street who should be prosecuted,
record loss of wealth, higher gas prices, job losses, higher interest rates /
yields, higher commodity prices, higher deficits, hyperinflation, record
continuing unemployment claims at 6.8 million, worthless Weimar dollar
crashing, money supply exploding with hyperinflation/higher interest
rates coming, budget deficit at new highs and trade deficit worse than
expected, analyst who called crash says inflationary depression, banks passed
stress tests only with the help of fraudulent change in accounting rules, banks
still insolvent, toxic assets even more toxic, dollar falling and a lot lower
to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of
bush greenspan, recommends getting out of Dodge and u.s. 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 economyU.S. regulators close their 40th bank of the year
, Next
Major Move In Stock Market Will Be Down world
economy to shrink by worse than previously predicted 2.9% and big difference
between not getting worse and getting better, market got ahead
of itself, stalled out, still depression/more job losses, higher oil-gas prices
/ higher interest rates / heavy debt to pare down is 1-3 year drag on economy,
even if believed (I don’t) the labor dept. far better than expected job numbers
by increased debt (spending) to produce same is not economically sound or
sustainable, viz., record spending with record low revenues, rating cuts for
bank sector, analysts concur in significant 5-15% (reality says 15-25%)
pullback/correction for stocks , institutional selling, industrial
production/construction down 1.1%, housing starts allegedly up but if believed
will only increase the plethora of unsold inventories, empire manufacturing index
suffers unexpectedly severe decline…daaaah!, credit dard defaults at record
high, analysts concur that fundamentals don’t support stock rally and that pac
money(defacto bribes) might derail any meaningful reform/regulation which is of
concern to the frauds on wall street who should be prosecuted, record loss of
wealth, higher gas prices, job losses, higher interest rates / yields, higher
commodity prices, higher deficits, hyperinflation, record continuing
unemployment claims at 6.8 million, worthless Weimar dollar crashing,
money supply exploding with hyperinflation/higher interest rates coming, budget
deficit at new highs and trade deficit worse than expected, analyst who called
crash says inflationary depression, banks passed stress tests only with the
help of fraudulent change in accounting rules, banks still insolvent, toxic
assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end
of year, Obama/bernanke continuing failed policies of bush greenspan,
recommends getting out of Dodge and u.s. assets 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 issuesMarket Manipulation/Fraud: How
Financial Markets Really WorkEconomist Warns Fed Will Bring
About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at
Fortune)
foreclosure sales up, prices down , ‘SELL IN
MAY AND GO AWAY’,so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS 6-19-09, SECULAR BEAR MARKET PROGRAMMED SUCKERS
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 6-16-09, 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!
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.”
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 throughBofA, Citi, Wells need capital under
stress testsNEED BILLIONS AND BILLIONS MOREBank stress tests show some banks need more fundsAlmost a Quarter of U.S.
Homeowners Are Underwater Banks Need Billions MoreGlobalizing 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 NPTBetrayal of the People By Wall Street, Banks, and
GovernmentFLASH:
Treasury Borrows Record $361 Billion for 2nd Quarter...The Great Geithner CoverupObama Maintains His Perfect
Batting Average for Appointing Failed Insiders to Key Economic PostsSecretary of Labor Reich:
Unemployment Numbers Show We’re Already In a Depression
GM goes for broke CNNMoney | General Motors announced plans Monday to cut
23,000 U.S. jobs by 2011, drop its storied Pontiac brand and slash 40% of its
dealer network in its latest bid to stay out of bankruptcy.
PREVIOUS 4-24-09, suckers’ bear
market rally to keep suckers sucked in based on bad news ( new home sales down,
durable goods sales down, 4 more bank failures, GM borrows $2 billion more,
Ford loses almost $2 billion, Microsoft reports first decline in revenue
ever, U.S. Initial Jobless Claims Rose
to 640,000 Last Week as Continuing Claims Exceed 6.1 million for new record …k,
etc., home sales down 3%, prices down 12%,
etc. ) and bull s**t ( dilutive stock issues, not as bad as
expected, etc. ) alone to keep fraudulent wall street’s churn and earn
commissionable bubble ( Interview with Peter Schiff: Reflating the Bubble ) fraud
rolling (on the way up and on the way down) so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Watch out for the fake government
stress tests (they lie about everything!). Note the delay in the rollout. Bank
analyst Cassidy says bank plan a failure. Business week business analyst
/reporter says (tongue in cheek) the optimism (irrational exuberance) must be
the advent of spring and the birds chirping (in the heads of the wall street
lunatic/frauds…cukoos). Analysts/Economists comments include: slow release of
stress test results, details and accuracy of data crucial for stress tests
(good luck!), things have not bottomed out but pace of decline has slowed somewhat,
bleak outlook for GM, Chrysler and bankruptcy probably necessary because of
legacy costs, and public pension funds with ridiculously rich benefits the next
shoe to drop. Oxdown
Gazette sums up the crucial story | ‘The 12 trillion that is being floated to insolvent US
banks is essentially being looted in the paper economy’ (ie., churn and earn by
wall street fraudsters who must be prosecuted and forced
disgorgement/forfeiture in the massive securities fraud that still goes
unmentioned though the source of this economic debacle, etc.). Four more banks shuttered as credit
crunch shakes outWhy Housing Is Not Coming BackObama Talks Credit Cards,
Summers Nods OffThis Volatility Is Off the Charts! Banks
May Struggle After 'Stress Tests'; Bad Assets Triple...
Four
more banks closed by regulators, this years closures exceeding all of 2008 as
depression continuesJohn Letzing, MarketWatch April 24, 2009 SAN FRANCISCO
(MarketWatch) -- Four banks in Georgia, Michigan, California and Idaho were
closed by regulators Friday, costing the Federal Deposit Insurance Corp.'s
deposit insurance fund nearly $700 million as the effects of the credit crisis
continued rippling throughout the U.S. economy. Kennesaw,
Ga.-based American Southern Bank marked the 26th bank failure of the year and
the fifth in the state of Georgia, the FDIC said. Farmington Hills, Mich.-based
Michigan Heritage Bank then became the 27th failure of 2009, followed by the
closure of Calabasas, Ca.-based First Bank of Beverly Hills. Alpharetta, Ga.-based
Bank of North Georgia has agreed to assume American Southern Bank's deposits,
the FDIC said in a statement… Germany’s slump risks
‘explosive’ mood as second banking crisis looms China Increases Gold Reserves 76%
to Fifth-Largest
PREVIOUS 4-22-09, modest losses relative
to reality in mixed market close so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL
CAN SINCE MUCH, MUCH WORSE TO COME! Oxdown Gazette sums up the crucial story | ‘The 12 trillion that is being floated
to insolvent US banks is essentially being looted in the paper economy’(ie.,
churn and earn by wall street fraudsters who must be prosecuted and forced
disgorgement/forfeiture in the massive securities fraud that still goes
unmentioned though the source of this economic debacle, etc.). ‘For the second session in a row, stocks
opened lower but buyers moved in to bid the major indices higher (based on nothing
at all). However, upward momentum stalled as the S&P 500 approached the 850
level in the final hour of trading, which prompted sellers to re-enter the fold
and hand stocks a sizeable loss. The late selling effort focused on financial
stocks, which closed with a loss of 3.8%, worse than any other sector in the
S&P 500. Shares of Morgan Stanley (MS 22.44, -2.21)
weighed heavily on the financial sector after the company reported a
larger-than-expected first quarter loss and a dividend cut.’
PREVIOUS 4-17-09 (4-14,15,16,-09), Suckers’ rally into
the close to keep the suckers’ suckered on bad news and bull s**t alone so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
April 17 (Bloomberg) --
David Tice, the chief portfolio strategist for bear markets at Federated
Investors Inc., said the Standard & Poor’s 500 Index will probably
plunge about 62 percent. He spoke during a Bloomberg Television
interview today. The Federated Prudent Bear Fund that he founded returned 6.7
percent last year as the S&P 500 plunged 38 percent, the most since 1937.
Tice said the benchmark index for U.S. stocks may slump to about 325. It closed
today at 865.30. The measure has surged 28 percent since March 9, the most in
five weeks since the 1930s. SUCKER'S RALLY APPROACHING AN END byPeter Cooper: Whatever the technical reason for the 25 percent rise in
the S&P over the past five weeks, or a more modest eight percent bounce in
GCC regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second
largest economy, Japan, has been unprecedented. Bad news coming … The stock market pattern in 2008-9
has so far been a mirror image of the crash of 1929-30 with a halving of prices
from the autumn followed by a 25 per cent rally from March lows. In April 1930
stocks moved sideways and then they crashed another 50 per cent into the
summer… New record
continuing unemployment claims in excess of 6 million, -11% for new home sales
(unexpected but stocks and even homebuilders rallied), Bloomberg reports $13
trillion (much unaccounted for) taxpayer/bailout funds spent/lent/stolen by who
knows what/where/how (ie.,replace stolen funds?, etc.), second largest mall co.
to bankruptcy with more to come along with more commercial real estate
foreclosures. ‘…initial
claims for the week ending April 11 totaled 610,000, which is down more than
expected from the prior week, but continuing claims climbed more than expected
to a new record of 6.02 million. Separately, housing starts disappointed
investors hoping to find signs of a recovery in home building. Housing starts
for March totaled 510,000, which was below the 540,000 starts that were
expected and down from the prior month. Meanwhile, building permits in March
totaled 513,000, which is below the 549,000 permits that were expected, down
from February…’
SUCKER'S
RALLY APPROACHING AN END byPeter Cooper: Whatever the technical reason for the 25 percent rise in the
S&P over the past five weeks, or a more modest eight percent bounce in GCC
regional stock prices, the absurdness of this sucker’s rally ought to be
obvious to all. Unemployment is still rising, house prices are still falling,
and the fundamentals of bank balance sheets are still deteriorating with total
bad debts unknown except that we know they must be getting worse. Global trade
fell off a cliff in the first quarter of the year. Even Mercedes car sales to
the oil rich of the GCC fell 23 per cent. The collapse of the world’s second
largest economy, Japan, has been unprecedented. Bad news coming
… The stock market pattern in 2008-9 has so far been a mirror image of the
crash of 1929-30 with a halving of prices from the autumn followed by a 25 per
cent rally from March lows. In April 1930 stocks moved sideways and then they
crashed another 50 per cent into the summer. What possible reason is there for
optimism to believe that history will not repeat itself? Government stimulus
packages have more than likely been too small and too late to prevent another
down leg in stocks, and will take time to revive the real economy, if indeed
they can do so. They might just stop the worst possible scenario but are they
going to prevent the plunge downwards? Governments have not managed it so far. Consumers and
unemployment
…It will take more than weasel words from US bankers and ‘green shoots’ in the
waffle of President Obama to put things right. Eventually global stock markets
will reach a bottom but they are not close to having visited it just yet. Wall
Street and its friends are playing investors as suckers but they are in danger
of overdoing it. For once these guys are impoverished where will the next bunch
of fools come from? Goldman Sachs' (GS) results this week might well
mark the top of the rally, beyond that the only way is down.
PREVIOUS (4-14-09), Suckers’ rally into
the close to keep the suckers’ suckered on bad news and bull s**t alone so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Retail sales
down –1.1%. ‘…The
downward push came as financial stocks fell out of favor and disappointing
retail sales data led some to second guess the prospects of retailers.
Financial stocks weighed on the broader market for the entire session and
finished with a 7.7% loss. The sector's weakness was widespread, but investment
banks and brokerages (-10.7%) suffered some of the steepest declines after Goldman Sachs (GS 115.92, -14.23) announced a $5
billion common equity offering that was discounted from the prior session's
closing price. The offering will also prove dilutive to existing shareholders…’Jim Rogers Says Investors
Should Expect More 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 CoverupWHAT TOTAL BULL S**T!U.S. Treasury asking banks keep quiet on
stress testsNew unemployment claims at high 654,000 praised as positive
number…riiiiight!…as continuing unemployment claims at record 5.84 million
(real numbers even worse). Economy so bad that consumers can’t buy goods so
trade deficit shrank but this is a structural defect in u.s. economy so not good
news and consistent with bad news of still plunging retail sector. Najarian points out that wall street always a circus,
consolidation, robbing peter to pay paul, take profits; while economist cite
Reich that we’re in depression and government as in land of fruits and nuts out
of control. Earnings revised downward for first
quarter –36.5%, more weakness, more unemployment, inflation to come on fast
says Hogan, and insurance companies now que up at corporate welfare/taxpayer
bailout lines.In positing (suckers’) bear market rally and advocating
hold cash/sell stocks Hillary Kramer points to the preposterous on wall street
where bad news greated as good vis-ŕ-vis stocks (they call what wall street
does ‘fraud’…in a rational world where they would already be in jail).Madman Cramer – the ultimate contrarian
indicator - CRAMER'S CALL: ANOTHER RALLY TOP INDICATOR Greg
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 CoverupSecretary of Labor Reich:
Unemployment Numbers Show We’re Already In a DepressionFed sees economy sliding furtherA Bear in Bull's Clothing: Why This Rally Will Fall
Short Goldman Sachs Q1: Pay Up, People DownDealbreaker Afterdark: Fannie Mae CEO
To Head Bailout NationUBS cuts 8,700 more jobsLet's Keep Big Banks from Ruining
America Forever (at Seeking Alpha)China's ICBC now world's largest bank by deposits (at
MarketWatch)UBS faces $1.8 billion loss, will cut
almost 9,000 more jobsWorld Economy Falling Faster
Than in 1929-1930 The Geithner-Summers Plan is
Even Worse Than Thought Author who predicted crisis sees
hyperinflation ahead
Launching Lifeboats Before the
Ship Sinks Paul Craig Roberts | If the US government is forced to
print money to cover the high costs of its wars and bailouts, things could fall
apart very quickly.
US Federal Reserve announces
massive increase in government debt Barry Grey | The essence of all of the measures
taken in response to the crisis is an effort to rescue the system and protect
the wealth and power of the financial elite at the expense of the broad masses
of the population.
Tax Time Covert Ops Catherine Austin Fitts | Hate. Divide and conquer. It’s a
business. The media is pushing it. The people directing it are the same people
who brought you the AIG bonuses.
PREVIOUS
(3-23-09): So preposterous was today’s Pavlov dogs rally
[conditioning to associate what’s good for fraudulent wall street, viz.,
privatizing profits – still not one prosecution for what now is the largest
fraud/scam/swindle in the history of this planet – and socializing the losses,
is somehow positive for america/the economy by the magnitude of this suckers’
bear market rally and prior market manipulations] when the same created the
instant crisis in the first instance (don’t worry about the frauds on wall
street, they’ll get their commissions again on the way down as they did in
creating this financial debacle/fraud as they clamor for more taxpayer/treasury
money). They’re still printing/creating those worthless Weimar dollars
like mad, China Urges New Money Reserve to Replace Dollar ,don’t know
what they’re doing, are clueless, and disingenuously seek to divert attention
from the missing/stolen/bilked $14 trillion of taxpayer money with the
subterfuge of outrage over the relatively miniscule though not unimportant
million dollar bonuses (AIG, etc.), so-called fixes/plans, etc., so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! What the Pros Say: US Is Now
‘Bankrupt’ US is Already Bankrupt: AnalystU.S. Budget Office offers darker economic and deficit
outlookThe Geithner-Summers-Bernanke
Plan to Prop Up Asset Prices Has Failed U.N. panel says world should
ditch dollar
Fierman:
How quickly things change…..
Some stats from today’s rally:
S&P: +54 (7.1%) to 823
Dow: +497 (+6.8%) to 7776
NYSE Up Volume: 1,866,836,012
NYSE Down Volume: 44,683,760
NYSE Total Volume: 1,914,836,622
It was just 2 weeks ago (March 9th) that the S&P closed at 12-year lows and
the stock market felt like it was forecasting the end of the world. We’ve now
rallied 22% in 2 weeks! But if we look at the catalysts for this rally, they
really don’t seem to justify such an explosive move. Citi said they were profitable in
the first two months of the year and JP Morgan (JPM) and Bank of America (BAC) said they were too. The Fed initiated some serious quantitative easing.
And now Geithner’s toxic asset plan this morning. I agree with the Capital
Spectator when he wrote this morning:
We’re
skeptical largely because the rally this month has drawn power primarily from a
new round of hope that Washington’s various experiments to right the economy
will finally hit pay dirt. Perhaps, but it’s not the stuff that powers
sustainable rallies, much less secular bull markets.
PREVIOUS
(3-19-09), ‘…Economic news remains uninspiring. Weekly
initial claims dipped 12,000 to 646,000, which was better than the consensus
estimate of 655,000. Continuing claims hit another record high, though, jumping
to 5.47 million from 5.29 million. Leading indicators for February showed a
0.4% decline, which wasn't as bad as the 0.6% decline that was expected… Energy
stocks (+1.4%) and materials stocks (+1.4%) were helped by stronger commodity
prices. The CRB Commodity Index climbed more than 5% in this year's largest
single-session advance by percent. Crude oil futures prices gained 6.5% to
close pit trading at $51.25 per barrel, while gold prices advanced 7.8% to
close at $958.50 per ounce. Underpinning the strength in commodity prices was a
considerably weaker U.S. dollar. According to the Dollar Index, the greenback
sank 1.7% this session, and more than 4% during the last two sessions. The
dollar's weakness follows the Fed's latest policy directive…’
PREVIOUS
(3-18-09), absolute desperation by the fed as fed in panic mode
buys bonds with even more fake money (ultimately you pay). Shot in the dark,
they unequivocally do not know what they’re doing; don’t have even the
slightest clue. Some well deserved guilt as greenspan, bernanke, paulson,
geithner, etc., are authors of this debacle with compliant politics as usual
facilitating same (wall street/hedge fund gamblers shouldn’t be bailed out,
etc.), but the divergence of so-called opinion from stagflation to applauding
same in light of fraudulent stock market up-tick (isn’t that how we got here,
to this financial/economic disaster).
PREVIOUS
(3-17-09), all private forecasts of the very forecastable housing starts defied
the false report of the corrupt, scandal-scarred commerce department (remember
the fake reports that spurred recent ralleys which ultimately burned the
buyers) spurred suckers’ bear market ralley so great opportunity to SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!
PREVIOUS
(3-12-09), the waning full moon still compounding the frivolity of
the criminally insane; particularly the lunatic frauds on wall street, and
truth be told, the lunatics who follow in lock-step behind them. Suckers’ bear
market rally (Citigroup Inspired Bear Market
Suckers’ Rally ) to keep the suckers suckered and commission
dollars flowing to the frauds on wall street so SELL/SELL INTO RALLIES/STRENGTH/ TAKE
PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! There are no bulls or bears on
fraudulent wall street, just ostriches. One senile land of fruits and nuts
analyst/ broker / master planner of the lost angeles failed paradigm quips with
glee: it’s impressive to see the market ignore so much bad news and
rally…riiiiight! Ron Paul, A Rare Voice of Reason
on Capital Hill: Culprits Of Financial Collapse Should Be Arrested, Prosecuted,
and Disgorgement Of Fraudulent Gains Would Inure to the Benefit of the
Technically/Defacto Insolvent/Bankrupt u.s. Treasury in the Multi-Trillions as
Recovered (Their
greed and fraud has further bankrupted this country and damaged other nations
and recoupment of their fraudulent gains must be required as the law already
provides since taxpayers are bearing the brunt of government inaction. What
they did is not ok. They must pay. This is not difficult to grasp and must be
done or there is no hope prospectively for america since all will know of this
government fostered/complicit fraud). ‘…Better-than-expected (but typically fake as per scandal
scarred commerce department) retail sales data suggested consumers haven't
completely rolled over. February retail sales declined just 0.1%, which is
better than the 0.5% decline that was expected. Excluding autos, retail sales
increased 0.7%. A decline of 0.1% was expected. Meanwhile, January total sales
and sales less autos were revised to show an even larger increase. The upbeat
retail sales data comes in the face of ongoing consumer headwinds, such as
mounting job losses. Weekly initial claims climbed 9,000 to 654,000, which was
worse than expected. Continuing claims jumped nearly 200,000 to 5.32 million,
which was also worse than expected (new record). In other economic news,
February business inventories declined 1.1%, which is essentially in-line with
the consensus estimate...’ ’…This week's rally
got an extra dose of adrenaline after an accounting board told Congress
Thursday it may recommend (more fraud as we’re currently experiencing by way of
) a let-up in financial reporting rules for troubled banks in three weeks… Fed
reports record fall in household net worth WASHINGTON (AP) -- The net worth of
American households fell by the largest amount in more than a half-century of
record keeping during the fourth quarter of last year…The Federal Reserve said
Thursday that household net worth dropped by a record 9 percent from the level
in the third quarter. The decline was the sixth straight quarterly drop in net
worth and underscored the battering that U.S. families are undergoing in the
midst of a steep recession with unemployment surging and the value of their
homes and investments plunging. Net worth represents total assets such as homes
and checking accounts minus liabilities like mortgages and credit card debt.
Jobless claims rise as retail sales slip WASHINGTON (AP) -- With layoffs
spreading, the number of initial claims for jobless benefits rose last week,
while the total number of people continuing to receive benefits set a record
high, the government said Thursday. The Labor Department reported that
first-time requests for unemployment insurance rose to 654,000 from the
previous week's upwardly revised figure of 645,000, above analysts'
expectations. The number of people receiving benefits for more than a week
increased by 193,000 to 5.3 million, the most on records dating back to 1967.
That's the sixth time in the past seven weeks that the jobless claims rolls
have set a record high…’
PREVIOUS
(3-11-09), Analyst chatter: Not through the worst of it, the worst
(of depression) still ahead, investing in this market is like trying to catch a
falling knife. Foreclosures up and spreading as unemployment also rises and
will continue to rise. Freddy lost another $50 billion and wants another $31
billion, while Fanny lost another $60 billion and wants another $15 billion.
Hillary Kramer says trading only, in-and-out, so if you can’t, don’t jump into
market to try and catch the falling knife. Dividend cuts for 2009 have already
surpassed that for all of 2008 at $46.8 billion.
PREVIOUS (3-10-09), yes, indeed,
a rally with power of a speeding locomotive based on….. b.s. talk point with
early release 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…’
PREVIOUS (3-6-09), fudged
in a manner most favorable to the frauds (we past these unemployment
percentages quite some time ago and they were much worse then and still worse
now, etc.), the news remains bleak and reality says even bleaker.Any economist who in discussing this depression mindlessly
compares this Greatest Depression to any other contraction without pointing out
crucial negative distinguishing characteristics; viz., insurmountable debt,
increasingly worthless (Weimar) currency, irrevocable and unrelenting
trade/budget deficits, global antipathy (stemming from illegal wars, war
crimes, massive securities fraud, etc.), lack of significant manufacturing
base, pervasive corruption/theft /plundering/incompetence, etc., cannot be
considered a serious economist (just a joker who probably missed the call on
recession/depression, etc.). …’Huge
layoffs push joblessness toward double digits WASHINGTON (AP) -- Tolling grimly
higher, the recession snatched more than 650,000 Americans' jobs for a record
third straight month in February as unemployment climbed to a quarter-century
peak of 8.1 percent and surged toward even more wrenching double digits.The
human carnage from the recession, well into its second year, now stands at 4.4
million lost jobs. Some 12.5 million people are searching for work -- more than
the population of the entire state of Pennsylvania. No one seems immune: The
jobless rate for college graduates has hit its highest point on record, just
like the rate for people lacking high school diplomas… GM shares reach 75-year
low amid bankruptcy talk…’ The
broader market turned in a modest gain, thanks to a late rally effort that
overcame steep losses. Initial gains were broad-based as participants began
buying in the wake of the February jobs report, which indicated nonfarm
payrolls fell 651,000, in-line with expectations, and unemployment climbed more
than expected to a 25-year high of 8.1%. Stocks were up as much as 2.4% in what
resembled past trends that saw stocks sell off leading up to the monthly jobs
report, but then rally in its wake as traders "bought the bad news."
PREVIOUS (3-5-09), Analyst/Economist Chatter: funny money (they’re printing
worthless Weimar dollars like mad) and now they’re thinking funny assets
(suspending reality based mark-to-market in favor of the failed fraudulent
whatever they want so they can foist/spin/defraud which got us to this
debacle); more bank takeovers; GM burning cash, bankruptcy probable; Merrill
bonuses for jobs poorly done (my direct experience with Merril Lynch brokers
was their total incompetence); higher taxes, higher inflation, $3 trillion new
u.s. debt, dollar devaluation; more bank takeovers and far worse unemployment. “Few economists expect a turnaround in
the battered labor market anytime soon with companies laying off thousands of
workers weekly…Still, initial requests for unemployment benefits fell to
639,000 from the previous week's figure of 670,000, the Labor Department (fake
number) said Thursday. Analysts expected a smaller drop to 650,000…Retailers
report sales declines in February…GM concedes in the report filed Thursday that
it's on the edge of bankruptcy and won't be able to avoid it unless it gets
more government money and successfully executes a huge restructuring
plan…Mortgage woes break records again in 4Q. NEW YORK (AP) -- A stunning 48
percent of the nation's homeowners who have a subprime, adjustable-rate
mortgage are behind on their payments or in foreclosure, and the rate for
homeowners with all mortgage types hit a new record, new data Thursday showed…”
“The stock market
logged new multiyear lows during the session, and closed at its worst level
since the fourth quarter of 1996. Roughly 95% of the companies in the S&P
500 finished with a loss...Though losses were broad-based, financials were
dealt the worst blow. The sector fell 9.9% with particular weakness among
diversified banks (-16.5%) and other diversified financial services companies
(-13.2%). Moody's announced it is reviewing the credit ratings of Bank of America (BAC 3.17, -0.42) and Wells Fargo (WFC 8.12, -1.54) for possible downgrade.
Moody's lowered its outlook for JPMorgan Chase (JPM 16.60, -2.70) to negative from
stable. Sellers pushed both WFC and JPM shares to new multiyear lows…Fourth
quarter nonfarm productivity declined 0.4%, though it was expected to increase
1.2% after the prior reading showed a 3.2% increase. The lower reading was a
result of lower economic output in the fourth quarter. Meanwhile, fourth
quarter unit labor costs increased 5.7%. Economists expected a 3.8% increase.
Factory orders for January fell 1.9% (fake number), which is a less severe drop
than the 3.5% decline that was widely expected. The drop in factory orders
reflects the retrenchment by businesses in the wake of softer spending…” Now As The Much Greater
Depression Progresses Dow and S&P hit
12-year lowsBernanke Arrogantly Refuses To
Disclose Which Banks Took Money Treasury secretary's choice for deputy
withdraws (only little people pay taxes so take this job and shove it says tiny
tim deputy designate) (AP)22
Georgia legislators fail to pay income taxes...GM auditors raise doubt on viabilityOne in 8 U.S. homeowners late paying or
in foreclosureCitigroup stock falls below $1 a share
(AP)$$] SVG Swings to a Loss on Markdowns
Hits (at The Wall Street Journal Online)Why the Fed's TALF Is Bad for 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 FebruaryFDIC’s Bair Says Insurance Fund
Could Be Insolvent This Year The Never-Ending BailoutThey Done Us Wrong: Spending
Our Way Into Greater Depression Credit concerns pound GE shares in
volatile tradeChina hopes, oil's jump, both
negatives, end Wall St 5-day routWarren Buffett's 'Fundamental Weakness' ETFs Suffer Outflows In FebruaryCelente: U.S. Has Entered “The
Greatest Depression”The D-word: The depression has become something worse
(AP)Obama Must Fire Geithner and
SummersGold Industry Officials Warn Of
Depression Jim Rogers: Bailouts are
destroying the US EconomyPaulson Was Behind Bailout Martial Law ThreatFed Hides Destination Of $2 Trillion In Bailout MoneyPREVIOUS
(3-3-09), modest losses relative to reality as bad and worse than
expected news just keeps on coming along with suckers bear
market/short-covering rallies as here into the close to keep the suckers
suckered. Defaults/delinquencies up, home/car sales down… Celente: U.S. Has Entered “The
Greatest Depression” … Helicopter
ben ‘bernanke indicated the near-term outlook for the economy remains weak.
Economists at Goldman Sachs concur; they expect the U.S. economy will fall 7.0%
in the first quarter, according to Dow Jones. Despite housing stimulus
provisions, pending home sales in January declined 7.7%. The consensus estimate
called for a 3.5% decline. The data reflect the effects of ongoing job losses,
lost wealth, and weak consumer confidence. Similar forces continue
weighing heavily on auto sales. Ford Motor (F 1.81, -0.07) reported February sales in
North America fell roughly 48%, which is steeper than the 42% drop that was
expected. General Motors (GM 1.99, -0.02) reported February sales sank nearly 53%,
exceeding the 45% fall that was widely forecast. Separate reports indicated
GM's chief operating officer said that without government funds the company's
European unit would run out of cash in the second quarter. Chrysler down 44%’…
ART HOGAN SAY’S ”IT’S A TOUGH ONE”…
THAT’S A TRUE STATEMENT!
Previous (2-20-09), stocks tumbled around
the world, sending the Standard & Poor’s 500 Index to its biggest weekly
drop since November, on concern the deepening recession will force banks to
seek more government aid. Europe’s Dow Jones Stoxx 600 Index slid to a six-year
low, and Japan’s Topix Index declined to the worst level since 1984.
Analysts saying impossible to predict bottom in this dismal scenario,
nationalization concerns, not bottomed yet, new bear market lows. Art Hogan
says greater than 50% is defacto nationalization anyway and nothing left for
shareholders, pricing mechanism for toxic assets problematic along with
negative capitalization ratios, new lows in offing, gold for capital
preservation along with treasuries and money markets. Nader says depression.
There’s no end/bottom in sight. One says 2011-2014 earliest for
bottoming at best and that nationalization means politization. One
analyst previously pointed out there has been not one prosecution thus far and
the frauds on wall street should be prosecuted and forced disgorgement.Analyst Frank Cochrane looks ahead to 4,000 to
6,000 on the DOW, 700 to 900 on the NASDAQ, and 425 to 625 on the S&P, and
says spending/stimulus programs will not work, a point on which he is correct
and the low end of his ranges closer to reality. Not Just a Few Bad Apples -
Corruption is Systemic in America In case you believe that there are only “a couple of bad apples”
in the United States, here is an off-the-top-of-his-head (I could give many,
many more including my RICO case) list of corruption by leading pillars of american
society. SELL/SELL INTO RALLIES/STRENGTH/
TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Major indexes fall more than 6 percent for weekThe Great Depression has Arrived-
Collapsing American Dreams Defacto if not dejure nationalization
realities hit Citi, BofASoros sees no bottom for world financial
"collapse"Trustee: Some Madoff stock trades were
fictionMorgan Stanley offers $3 billion broker
bonuses, Wells none (Reuters)Gold Hits $1,000 Ron Paul: Stimulus “Waste of
Money” The Inconveninent DebtGold Tops $1,000, First Time
Since March as Depression Deepens Stocks Drop Around the World;
Stoxx 600 Falls to 6-Year Low Fed
Hides Destination Of $2 Trillion In Bailout Money“…The United States was
in much better shape, economically, going into the Great Depression than it is
now. Prosperity is not coming back to the U.S. as we know it. We are
in a lot of trouble…”More Economists
Say Crisis Is Worse Than Great Depression Previous
(2-18-09), all news much worse than expected as new home starts plunge 17%
(-56% year over year), fed/bernanke downgrades economic forecast (rallied
stocks when he made same which was bull s**t then as pointed out here)
predicting reality of contraction which he says will be protracted, prolonged
and increased unemployment (9%) though reality is much worse than they’re once
again (falsely) predicting (we’re already significantly past 9% unemployment)
and as one economist points out, in an economic freefall. bernanke’s outlook
realistically dismal which sentiment is shared by analysts/economists who
envision no bottoming until well into 2010 at best because…..this is a
DEPRESSION! Previous (2-19-09), ‘Initial jobless claims totaled 627,000, topping the 620,000
claims that were expected. Initial claims were unchanged week-over-week, while
the four-week moving average moved up to 619,000 from 608,500. Continuing
claims reached record highs of 4.99 million. Economists forecast 4.81 million continuing
claims. The four-week moving average for continuing claims stands at 4.84
million, up from 4.75 million. Jobless claims were a drag on the January index
of leading economic indicators, which increased 0.4%, exceeding the consensus
forecast of a 0.1% increase. An increase in the money supply proved to be the
main driver lifting the index, but the increased money supply contributes to
inflationary concerns. Producer prices, which measure inflation, increased more
than expected in January. The January PPI and core PPI were up 0.8% and 0.4%,
respectively.’ Philly fed manufacturing index at 18 year low. The easiest to forecast leading
economic indicator was fudged to the upside, though still marginal, with
said fake number substantially exceeding all private forecasts (stock prices,
auto, housing, employment, etc., all down sharply in subject month…..hence, I
don’t think so and fake report). Analysts saying stimulus plan not stimulative, specter of bank
nationalization (banks insolvent), loss of pricing power across most all
industries, and then the plethora of very bad economic/financial data with
breakthrough technical bottoms, looking for violent sell-off/capitulation to
provide minimal/short-lived bear market rallies, with some ephemeral
opportunities among defensive stock plays, ie., whole foods (pricing power),
auto parts (refurbishing old cars).One analyst previously pointed out there
has been not one prosecution thus far and the frauds on wall street should be
prosecuted and forced disgorgement. Analyst Frank Cochrane looks ahead to 4,000 to
6,000 on the DOW, 700 to 900 on the NASDAQ, and 425 to 625 on the S&P, and
says spending/stimulus programs will not work, a point on which he is correct
and the low end of his ranges closer to reality. Not Just a Few Bad Apples -
Corruption is Systemic in America In case you
believe that there are only “a couple of bad apples” in the United States, here
is an off-the-top-of-his-head (I could give many, many more including my RICO case) list of corruption by leading pillars
of american society.
SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH,
MUCH WORSE TO COME! Jobless Claims Hit Record High;
Inflation Jumps Dow falls to 6-year low as banks slideWholesale
inflation takes biggest jump in 6 monthsDow Closes at New Bear-Market LowDow Theorists spot a bearRising debt will
overwhelm Obama’s effort to rescue the economyBank debt trades at distressed levels
(at FT.com)5 million Americans drawing jobless
benefitsAP IMPACT: Jobless hit with bank fees
on benefits (AP)FBI tracks down Texas financier in fraud case (AP)FBI finds Allen Stanford in VirginiaStanford curried influence in DC:
watchdog groupPC makers' shares fall on worsening
demandBofA and Citi shares fall on defacto or dejure
nationalization nearGE shares dip to lowest since 1995Feb. could be worst month yet for
jobless claimsFitch downgrades Marriott on lodging
softness (AP)Fed downgrades
economic forecast for this year “…The United States was in much better shape, economically, going into
the Great Depression than it is now. Prosperity is not coming back to
the U.S. as we know it. We are in a lot of trouble…”More Economists
Say Crisis Is Worse Than Great Depression Previous
(2-18-09), all news much worse than expected as new home starts plunge 17%
(-56% year over year), fed/bernanke downgrades economic forecast (rallied
stocks when he made same which was bull s**t then as pointed out here)
predicting reality of contraction which he says will be protracted, prolonged
and increased unemployment (9%) though reality is much worse than they’re once
again (falsely) predicting (we’re already significantly past 9% unemployment)
and as one economist points out, in an economic freefall. bernanke’s outlook
realistically dismal which sentiment is shared by analysts/economists who
envision no bottoming until well into 2010 at best because…..this is a
DEPRESSION!
THE DOW JUMPS 900 POINTS. SO WHAT? BY MORGAN HOUSE
October 28, 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…
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:
previous
session saw modest losses relative to reality with near 300 point upswing into
the close on bad news (to keep the suckers in … were you a sucker?…the frauds
on wall street are counting on it as today’s session proves) including record
budget deficit at $454 billion and much worse next year, they’re treating
symptoms not the problems so good money after bad, substantial unwinding of
derivatives and market manipulation by programmed stock purchases, u.s. gov’t
selling treasuries to finance debacle pushing interest rates higher so
sell/take profits,The Wall Street Coup and the Bailout Scam Bailout
$700 billion yet national debt increased by over $1 trillion,They socialize their
losses and privatize their gains ….. How is this happening? Paulson Doles Out $125 Billion to Wall Street Elite What a total
fraud/scam! A
Trillion Dollar Bait and Switch: The Bailout and the Smell Test This
is a secular bear market – check out the cycles. Roubini
Sees Worst Recession in 40 Years, Rally’s End ,
previously Motek’s expert Art Hogan says crisis not over, daaaaah!, buuuttt and
for the first time sounds like a typical wall street shill and loses all
credibility thereby, while another non-Motek expert says will retest lows which
is euphemistically correct while pointing to comparable spike/decline in 1929
et seq. Great Depression scenario , Billion-Dollar Fund Manager; Gold To Hit $2,000, Dow To Sink
To 5,000 , b.s. talking points
and all based upon other nations, Europe and Asia like lemmings again following
america into the abyss (Iraq, etc.) since none of the real problems including
many trillions of worthless paper, deficits budget/trade,
hyperinflationary/worthless Weimar dollars being printed like mad, have even
been addressed much less solved (election-year expedience) so sell into rallies/strength/take
profits while you can as much worse to come and remember, fool you once, shame on the wall street frauds who should be
in prison, fool you twice, shame on you and you’re screwed, as this and previous session’s programmed buy trades to keep
the suckers sucked in and commission dollars flowing (the shameless wall street
frauds made hundreds of millions last week and today on high then moderate
volume as government/banks closed for holiday), thousand point swings to the
upside- I don’t think so, as yet again those needful things on wall street get
even MORE, MORE, MORE, MORE, MORE for the poor (not really, in light of the
mega billions in fraudulently derived commissions, bonuses, compensation, which
should and must be disgorged through prosecution) frauds on wall street, retail
down, unemployment at recession levels, modest losses relative to reality so
sell into strength/take profits, get your money out while you can and don’t
forget that the worthless hyperinflationary Weimar dollars they’re printing
like mad will, like the current fraud unraveling, come home to roost [Rogers:
Global Bankers Have Unleashed Hyperinflationary Holocaust ] making, assuming arguendo there are, any
wild-eyed purported gains to come illusory/non-existent at best and further,
national (and consumer) debt and lack of industrial/manufacturing base/trade
deficits make previous recovery comparisons preposterous, Motek’s expert says
on-going bear market since 2000 (market down 75% as measured in gold) with
continued massive liquidations to pay off debt and that attempts to reflate
with bailouts will fail culminating in hyperinflationary depression, while
another expert says stocks could slug around at bottom for extended period,
while Financial Times Editor says most volatile day ever, not at tradable
bottom, and this was a market crash at –40% from top. GM shares on credit watch with negative implications
by S&P tumble 31 percent to 58-year low , Roubini: Rate Cuts Temporarily and Minimally Reduce
Crash Risk, But Dow 7,000 Likely 'Sometime Next Year' , dollar down, oil up, Motek’s expert Bogel of Vanguard fame
points to speculative measure for wall street in 1929 as 280 which is even
below and not as bad as the current measure of 320 in year 2008 indicative of
the ridiculousness of the wall street debacle, It's Not You, It's the Market - Now Officially the
Worst S&P Decline in History ,on
top of previous sessions needful things on wall street saying MORE, taxpayer
money to bail them out for their consummate fraud, etc., MORE now
EU/Asian/fed/taxpayers’ cooperation/contribution for their past, present and
future frauds, etc., to keep their ponzi-like scheme of worthless paper moving;
how about prosecution, prison, fines, and disgorgement for these mega
billion dollar frauds, as 500 point swing to the upside into the close (get
your money out while you can-sell into strength/rallies/take profits) on yet
another b.s. talking point (I don’t think so and neither does Cramer says Get Out Of The Market ) as Motek’s expert apparently shell-shocked talks in terms
of washout levels while another says bailout will take about 4 weeks to
implement and not sure if same will work [WON’T! There are trillions (some say in the hundreds of trillions) of the
fraudulent worthless paper out there] and points
to negative economic fundamentals and says reduce exposure to equities in favor
of ie., money market treasuries, previous day buy on rumor, sell on news (of
fraud bailout) obtains, fundamentals horrendous as economy loses more than
expected 159,000 jobs, Motek’s economist/expert/trader says serious economic
issues remain and cites ’73 to ’74 when market fell 45% top to bottom while
securities expert says now focus is on fundamentals and not a pretty picture
and cautions about dilution, get your money out while you can-sell into
strength/rallies/take profits-that’s what they did , previously hopes for
fraudulent $4
trillion plus is missing through U.S. federal agency accounts managed by the NY
Fedmisguided Not
One Dime! wall street
fraud/criminal bailout “Grand Larceny” on a Monumental Scale: Does the Bailout Bill
Mark the End of America as We Know It? can’t change reality as unemployment numbers highest in 7
years, factory orders decline to lowest level in 2 years, food prices with
largest increase since 1990, previous 200
point swing to the upside on top of 485 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 chartsecond chart).]FAKE GOV’T/ETC. ELECTION YEAR REPORTS THAT EXCEED ECONOMISTS/ANALYSTS
FORECAST/EXPECTATIONS, EARNINGS NOT AS BAD AS EXPECTATIONS (SUUUUURE-SAME
OLD FRAUD). GREAT OPPORTUNITY TO SELL (TAKE PROFITS) WHILE YOU CAN, ESPECIALLY
WITH SUCKERS’ BEAR MARKET RALLIES ON NEGATIVE NEWS (PARTICULARLY SNEAKING INTO
THE CLOSE). NOTHING HAS CHANGED REGARDING TRADE AND BUDGET DEFICITS, WORTHLESS
WEIMAR DOLLAR AND THE HYPERINFLATION/STAGFLATION THEREBY, AND ELECTION YEAR
(THIS IS AN EPHEMERAL GOOD AS IT GETS SCENARIO) ATTEMPTS TO REINFLATE THE
BUBBLE, ETC., THAT HAS HELPED TO CREATE THIS FINANCIAL/ECONOMIC DEBACLE. THE
FED/WALL 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 CrashSimilarities
between 1929 and 2008 terrifying I WARNED AGAINST THE DEBACLE IN IRAQ, I
WARNED AGAINST GIVING DUMBYA BUSH WAR POWERS, I WARNED OF THE BUBBLES IN REAL
ESTATE AND STOCKS, AND NOW I WARN AGAINST INVESTING IN DOLLAR DENOMINATED
SECURITIES OR HOLDING SAME (SELL INTO STRENGTH/TAKE PROFITS/SELL). SUCKERS’
BEAR MARKET/SHORT COVERING RALLY/NEW BUBBLE MODE (ALONG WITH MODEST DROPS
RELATIVE TO REALITY) SO SELL (TAKE PROFITS) AS THE WALL STREET SCAM IS
UNEARTHED BY REVELATION THAT OF 9 INVESTMENT VEHICLES S&P (MAJORITY OF 401K
HOLDINGS, ETC.) WAS WORST PERFORMER (1% OR LESS AND IF YOU FACTOR IN DECLINING
DOLLAR, NEGATIVE RELATIVE TO NON-DOLLAR DENOMINATED ALTERNATIVES OVER DECADE).
JAWBONER BERNANKE SAYS THIS DOWNTURN IS DIFFERENT FROM THE GREAT DEPRESSION AND
HE IS RIGHT INASMUCH AS AMERICA UNLIKE AFTER THE GREAT DEPRESSION WILL EMERGE
FROM THIS DOWNTURN AS SOMETHING SIGNIFICANTLY AND SUBSTANTIALLY LESS FROM WHICH
THERE WILL BE NO RETRACEMENT TO THE UPSIDE FINANCIALLY, ECONOMICALLY,
GEOPOLITICALLY.Bank
issues global stock and credit crash alert...Write
Offs to Top $1.3 Trillion.Who didn’t see this coming?The
Next Crisis: 'Credit Default Swaps'-- Subprime is a Just a 'Vorspeise' . 5
REASONS WHY THE FED HAS FAILED.GREENSPAN: NO
REGRETS; U.S. IN SEVERE RECESSION. UK, US, AND
WORLD FACING THE BIGGEST FINANCIAL SHOCK SINCE THE GREAT DEPRESSION, SAYS IMF.VIX
TO VXV RATIO IS GIVING A STRONG BEARISH SIGNALYAHOO
FINANCE SUMMARIZES THE ESSENCE OF THE TRADING DAY: [BEFORE THE YAHOO MAINSTREAM FLUFF, IT IS NOTEWORTHY THAT ALL
THE PROBLEMS REMAIN FROM DEFICITS TO WORTHLESS WEIMAR DOLLAR TO FRAUD TO FAKE
GOV’T REPORTS,suckers’ bear market rally
into the close,Analysts say
more U.S. banks will fail Jim Rogers: Dollar Doomed, Oil Will Go Over $200 per Barrel
Soon Fannie Plan a `Disaster' to Rogers; Goldman Says Sell ,
why would anyone hold/invest in dollars
(deficits, trade and budget substantial, economic growth declining) so
sell/take profits, if you’re smart, as higher oil prices (7-10-08) sparks rally
(riiiiight!) and investors were encouraged by the possibility of more
contributions to their fraud, and Paulson says things are not as bad as the
reports in this election year; he’s right; they’re much worse! Remember
greenspan’s perpetual envy of all the world speeches; now Bernanke printing
hyperinflationary Weimar dollars like mad; they’re dreaming.Similarities
between 1929 and 2008 terrifying U.S. stocks post sharp weekly losses; bear market
that already is now said nears ,Stocks tumble as more bad economic news piles up,
Wave of bad news sends Dow down nearly 360,
Sales of new homes tumbled for the sixth time in
seven months in May while median prices kept plunging, American Express sees
worsening credit conditions, but fake government report of higher than expected
oil inventories (riiiiight!) rallies stocks, Home prices fall in April at record rate,
Consumer confidence sinks to 16-year-plus low
,BlackRock sees global slowdown
worsening in 2009 ,DOWNGRADES OF
BANKING/FINANCIAL SECTOR AND IN AUTO SECTOR ALONG WITH BOND INSURERS AMBAC,
MBIA, AMERICA’S BLIND SUPPORT OF ISRAEL/ISRAELI AGGRESSION DEPRESSION CONTINUES
ON COURSE, PHILADELPHIA FED INDEX REGIONAL ASSESSMENT OF MANUFACTURING ACTIVITY
POSTED A BAD READING OF -17.1 FOR JUNE WITH JOBLESS CLAIMS MORE THAN EXPECTED AND
ANALYST SAYS RAISING CHINA'S GASOLINE AND DIESEL PRICES BY 46 CENTS A GALLON
NOT ENOUGH TO HAVE MUCH IMPACT ON EXISTING DEMAND, INFLATION UP AND
PRODUCTION DOWN EQUALS STAGFLATION (EVEN WORSE WHEN REAL NUMBERS HIT HOME), NEW
YORK MANUFACTURING INDEX DOWN AGAIN, REAL 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))
CHEER: Ambrose
Evans-Pritchard: Bank Crisis may make '29 look 'walk in park'...As central banks continue to splash their cash over
the system, so far to little effect, Ambrose Evans-Pritchard argues things
are rapidly spiralling out of their control Twenty billion dollars here,
$20bn there, and a lush half-trillion from the European Central Bank at
give-away rates for Christmas. Buckets of liquidity are being splashed over
the North Atlantic banking system, so far with meagre or fleeting effects.
"Liquidity doesn't do anything in this situation," says Anna
Schwartz, the doyenne of US monetarism and life-time student (with Milton Friedman)
of the Great Depression."It cannot deal with ….. that lots of firms are
going bankrupt. The banks and the hedge funds have not fully acknowledged who
is in trouble. That is the critical issue," she adds…..
The
time-lines below highlight the four recessions in the US economy since
1980…..While the NBER was only a little late in its recognition of the
recession that began in Summer 1981, they were late to the game in the
remaining three. In fact, during the last two recessions, the NBER did not
officially declare the start to a recession until the recession had already
ended. The u.s. is already in recession, beyond the fake data/reports, with
much higher than reported inflation, etc..
Economic
Expert Says Global Crash Imminent Echoes
former world bank leader with prediction of global recession Steve Watson A
leading economic expert has warned that a global crash and recession is
imminent on the back of record highs in real estate, stocks and energy,
combined with a devaluation of the dollar and continued speculative bubble
thinking. Robert Shiller, the Stanley B. Resor Professor of Economics at Yale
University told an audience at the annual Dubai
International Financial Centre (DIFC) Week that a sharp downward correction
is due in the global markets. Shiller stated: Perhaps we have gotten a little
too confident in the global economic growth, said Shiller. The problem is
high oil, stock and real estate prices. I believe that a substantial part is
speculative bubble thinking. We have gotten too confident of the prices in
these markets.
Economic Outlook 2008: Darkening Clouds
Dom Armentano Lew
Rockwell.com Thursday December 6, 2007 Presidential election years
usually are not recessionary but next year will be an exception. Several
economic factors are colliding in an almost perfect storm to markedly slow
the general economy and the stock market. The most important signal flashing
recession is, of course, the sub-prime mortgage fiasco. After years of
monetary inflation on the part of the Federal Reserve, individuals and
families with poor credit were suckered into low-down-payment/low-interest
adjustable mortgages that simply cannot be maintained or repaid under current
conditions. Their incentive is to sell the property quickly before their
equity evaporates and/or the financial institution repossesses it. Yet the
massive oversupply of homes and condos for sale has pushed prices down at a
record clip and made additional foreclosures even more likely. Next year,
unfortunately, will be the Year of the Auction. The financial institutions
have also been punished…well sort of. Various institutions including hedge
funds that hold these poorly performing debt obligations have been forced (by
accounting rules) to "write down" the value of these assets, take
huge paper losses in the bargain, and pull in their financial horns. Thus,
any near-term recovery in housing must now fight a record supply
availability, falling prices, higher insurance costs and restricted credit…a
near-term impossibility in my view. Moreover, the slowdown in residential and
commercial construction will send secondary ripple effects throughout the
economy. Laid-off construction workers don't spend money. Construction and
home furnishing suppliers sell less output and make fewer investments. Even
local governments will be pinched by declining property-tax assessments and
fewer developer fees. Things are likely to get worse before they get any
better. The second major factor indicating a near-term recession is the
sky-high price of crude oil and refined product. Pushed upward by world-wide
speculative Mid-East war fears and increases in demand (especially from
China), increasing energy prices act as an inflationary "tax" on
domestic production and consumption throughout the market economy. Higher costs
of production will lower profits; higher prices will reduce some consumption.
The only good news here is that any substantial economic slowdown in 2008
will eventually moderate the price of oil and other commodity prices as well.
The third factor in the current recession scenario – and the real wild card –
is the continuing decline in the value of the dollar in international money
markets caused by our Iraq blunder and the Federal Reserve–generated
oversupply of dollars. Some economists would argue that a devalued dollar is
good for U.S. exports, and thus positive for the economy as a whole. I
disagree for three reasons. First, the bulk of crude oil purchases takes
place in dollars; a falling dollar translates into still higher crude oil
prices. Second, the U. S. dollar is the major reserve currency of the
international monetary system and dollar-paying investments (such as U.S.
Treasury bills and bonds) are held in massive amounts by foreign banks and
governments. Dollar devaluation makes these investments less attractive and
any disinvestment in these areas would sharply drive bond prices down and
increase interest rates. The third reason why dollar devaluation makes
recession more likely is that it effectively prevents the Federal Reserve
from pushing U.S. interest rates much lower. Any additional Fed easing
(inflation) would be seen as a signal of even further future dollar
devaluation and even higher dollar prices for oil. Unfortunately, we will not
be able to "inflate" our way out of this recession this time. We
will simply have to take our lumps and let market forces liquidate the bulk
of the malinvestments caused by the unprecedented Greenspan money bubble.
This liquidation process will not be pretty but it is necessary to restore a
sustainable economic recovery in the years ahead.
Don’t forget: Criminal america has the highest
crime rates in the world. No other so-called ‘civilized’ nation even comes
close.
UNDERSTANDING
THE GREAT WALL STREET FRAUD (summarized) *(12-30-07) The best
and easiest to understand analogy, though not perfect, to the wall street
markets is the kiting of checks at lightning computerized trading speed on
which commissions are taken although there is nothing of real value
underlying their fraudulent scheme. (10-10-08) Now to bring this analogy
closer to the current crisis, assume as is the case of the worthless sub-prime
securities, there is no charge off/debit as is ordinarily the case with a
cleared check and the worthless 'collateralized sub-prime security' is
repackaged, resold, recommissioned based upon as collateral the original
worthless security which is in turn repackaged, resold, recommissioned based
upon as collateral the subsequent worthless security, and so on to the tune
of (hundreds of) trillions of this worthless, fraudulent paper (blatent
securities fraud which must be prosecuted and fraudulently derived profits
disgorged). *(12-31-07) The
ubiquitous computerization of wall street functions, the
enhancement/advance/integration of the said computer equipment/peripherals in
terms of computing power and speed, along with the concomitant
advance/sophistication of the programming concerning same has enhanced the
ability of the frauds on wall street to effect their frauds with blinding
speed vis-ŕ-vis the funds entrusted to their care by way of programmed
trades, ie., buy, sell, stop limits, etc.. An example (though not perfect) is
illustrative:Dow drops 200 points as
programmed sell orders kick in with some not so fudged negative news. Nothing
changes but the following day the market rises 205 points on programmed buy
orders (a little higher despite the absence of any positive news). Hence, the
huge swings which have become ever so more prevalent. Though nothing has
changed, hundreds of millions of dollars without relation to any value added
(in economic terms, service, etc.) is taken in commissions (percentages,
points, spreads) by the frauds on wall street on huge computerized trading
volume (hence, the multi-billion dollar bonuses on top of huge salaries,
etc.). The fact is that these funds entrusted to them are so large that such
computerized “buys” can simulate other than rational demand causing prices to
rise solely to generate huge commissions to them and new funds coming in (as
in a ponzi scheme). The corrupt government has been complicit in terms of
false economic reports, legislation protecting the fraud (ie., exemption from
RICO accountability, etc.), while the courts are also corrupt facilitators
(ie., new york, new jersey, california, etc., and similarly don’t count on
arbitration panels).There was a time
when transaction costs mattered in financial investment decisions. The
trades/commissions are not a net positive for the economy but are indeed of
great benefit to the recipients of same (who like termites eat away at other
peoples’ money, and whose marginal propensity to consume is less than those
allocating their monies/pensions/401ks/savings etc.; hence, the mess to
follow). Finally, the NASDAQ/tech has become the “safe haven” but in reality
as in the dot.com bust days are just the great story without much fundamental
understanding that keeps the fraudulent ball rolling. (1-01-08) Remember: more contrived wasteful
commissions to the wall street frauds, the level and percentage of which
should be examined in light of computerization and decreased costs attendant
to same especially since only A Very Small Fraction Of What wall street Does
Is A Net Positive For The Economy (New Investment Capital via, ie., ipo’S), The Rest Is Tantamount To A
(Economically) "Wasteful Tax" (On The Economy) via 'churn and earn'
computerized programmed trades. *(1-3-08) $14
billion ($21 billion in 2006) in bonuses to the lunatic/frauds on wall street
for a commissionable (sub prime bundled) fraud well done, inflation up,
dollar down, oil prices up, manufacturing down; one
analyst/reporter/journalist from inside sources pegs the sub-prime dollar
value of the shilled worthless paper at $516 TRILLION (even a percentage of
same renders the problem unfixable-hence, culpable parties must be held
accountable and disgorge their ill-gotten gains from, ie., commissioning
worthless paper, taking a point here or there and fraudulently passing same
on, ad infinitum, etc.). Of course there are also a plethora of
garden-variety frauds as always, ie., 10-B-5, insider trading, etc..
*(10-10-08) Now to bring the initial
check-kiting analogy closer to the current crisis, realize as is the case of
the worthless sub-prime securities, there is no charge-off/debit as is
ordinarily the case with a cleared check and the worthless 'collateralized
sub-prime security' is repackaged, resold, recommissioned based upon
(collateralized by) as collateral the original worthless security which is in
turn repackaged, resold, recommissioned based upon as collateral the
subsequent worthless security, and so on (a geometric progression)to the tune of (hundreds of) trillions of
this worthless, fraudulent paper (blatent/flagrantsecurities fraud which must be prosecuted and fraudulently
derived profits disgorged).
THE BAILOUT FRAUD/SCAM
This is not brain surgery and
the fraud, bonuses/compensation (mortgages, subprime and otherwise, are only
a relatively small portion of the fraud/scam providing “cover/collateral” for
the worthless but heavily commissioned paper over and over again in a
multiplicity of different forms of worthless paper) in the mega-billions should
first be disgorged before taxpayers are forced to pony up and pay the frauds
again for their fraud which caused the problem in the first instance, must be
prosecuted. It should also be noted that despite the rhetoric, the wall
street bailout will NOT solve the crisis or eliminate the economic pain
except to make permanent the fraudulent wealth transfer to the most well
healed heals/frauds/criminals in the nation who caused the so-called crisis
by their greed/corruption/fraud.
Just as
the Twin Towers collapsed from the top down, so too will the US economy from
an Economic 9/11. When the high-stake speculators, banks, brokerages, and
buyout firms that leveraged billions with millions get hit ... everything
underneath them will turn to rubble.
The Panic of 08
Failing
banks, busted brokerages, toppled corporate giants, bankrupt cities, states
in default, foreign creditors cashing out of US securities … whatever the
spark, the stage is set for panic in the streets. When the giant firms fall,
they'll crush the man on the street. ....
Conservation
Engineers
More
powerful than high tech and paying much better than the booming health care
sector, we forecast that "Conservation Engineers" and
"Conservation Specialists" that are skilled in providing
enviro-smart solutions will be among the most handsomely rewarded and sought
after professions for the next several decades.
Tax Revolts
It was a
reason given for starting the first American Revolution and as the trends add
up, it will also be a reason for starting the second. Fed up, and not willing
– or able – to take it anymore, overtaxed Americans will begin the battle
against politicians and bureaucrats in the fight to lower and/or repeal
taxes… while demanding higher tax rates for those seen as paying too little.
.....
Bye, Bye Bucks
America’s
going broke and the whole world knows it. Betting that its economy will
spiral down and that the dollar will fall with it, foreign creditors are
dumping dollars on the market … and even Third World street vendors don’t
want to take greenbacks any longer. The further it falls, the less it’s
worth. The less it’s worth, the less it buys. In the real world they call it
"inflation." In America they call it "good for business."
......
Small is Big
Unlike
the years of personal prosperity and business growth long perceived a
birthright … today, as America’s fortunes dwindle, its people will be forced
to adjust attitudes and alter practices to compensate for the losses.
Although the oncoming national downsizing trend may be a blow to egos and
painful to pocketbooks, if intelligently deployed and spiritually practiced,
the "Small is Big" trend can lead to more progressive advancement
and greater rewards than the supersizing trend that has been consuming much
of the nation.
Heal Yourself
Health Care
Just as
it took mountains of facts and bottom line realities to finally convince a
consumption prone public that energy saving tools and environmentally sound
practices bring bigger rewards and higher quality, the oncoming "Heal
Yourself Health Care" trend will be as widely embraced and will prove
equally rewarding. Evolving over the past two decades, along with growing
acceptance of seeking alternative medical options, the "Heal Yourself
Health Care" trend is being driven by both the lack of money and the
power of the mind.
TechnoSlaves.com
It’s a
quickly spreading worldwide epidemic that will get much worse. All colors,
classes, creeds and races are addicted and they can’t break the habit. Before
2008 ends, the TechnoSlave trend will be so pervasive and so deeply embedded
into the fabric of society that Old World communication styles will be seen
as quaint and ridiculed as stupidly boring by the high-tech "hip."
Across borders and around the world, blinking lights of blue and red flash
from human ears … electro-plastic appendages affixed to the body and
controlling the mind. So self-important have society’s members become that
they must be connected at all times … to be in touch and instant messaged …
for work, play and to fill the voids of idle time.
Jeremy Grantham:
All the World's a BubbleBy Brett
Arends
…..Grantham says we are now seeing the first worldwide bubble in history
covering all asset classes.
Everything is in bubble territory, he says.Everything.
'The bursting of this
bubble will be across all countries and all assets.' -- Jeremy Grantham
The United States is heading for
bankruptcy, according to an extraordinary paper published by one of the key
members of the country's central bank.
A ballooning budget deficit and a pensions and welfare timebomb
could send the economic superpower into insolvency, according to research by
Professor Laurence Kotlikoff for the Federal Reserve Bank of St Louis, a
leading constituent of the US Federal Reserve.
Prof Kotlikoff said that, by some measures, the US is already
bankrupt. "To paraphrase the Oxford English Dictionary, is the United
States at the end of its resources, exhausted, stripped bare, destitute,
bereft, wanting in property, or wrecked in consequence of failure to pay its
creditors," he asked.
According to his central analysis, "the US government is,
indeed, bankrupt, insofar as it will be unable to pay its creditors, who, in
this context, are current and future generations to whom it has explicitly or
implicitly promised future net payments of various kinds''.
Prof Kotlikoff, who teaches at Boston University, says:
"The proper way to consider a country's solvency is to examine the
lifetime fiscal burdens facing current and future generations. If these
burdens exceed the resources of those generations, get close to doing so, or
simply get so high as to preclude their full collection, the country's policy
will be unsustainable and can constitute or lead to national bankruptcy.
"..... there are strong reasons to believe the United
States may be going broke."
Experts have calculated that the country's long-term
"fiscal gap" between all future government spending and all future
receipts will widen immensely as the Baby Boomer generation retires, and as
the amount the state will have to spend on healthcare and pensions soars. The
total fiscal gap could be an almost incomprehensible $65.9 trillion,
according to a study by Professors Gokhale and Smetters.
The figure is massive because President George W Bush has made
major tax cuts in recent years, and because the bill for Medicare, which
provides health insurance for the elderly, and Medicaid, which does likewise
for the poor, will increase greatly due to demographics.
Prof Kotlikoff said: "This figure is more than five times
US GDP and almost twice the size of national wealth. One way to wrap one's
head around $65.9trillion is to ask what fiscal adjustments are needed to
eliminate this red hole. The answers are terrifying. One solution is an
immediate and permanent doubling of personal and corporate income taxes.
Another is an immediate and permanent two-thirds cut in Social Security and
Medicare benefits. A third alternative, were it feasible, would be to
immediately and permanently cut all federal discretionary spending by 143pc."
The scenario has serious implications for the dollar. If
investors lose confidence in the US's future, and suspect the country may at
some point allow inflation to erode away its debts, they may reduce their
holdings of US Treasury bonds.
Prof Kotlikoff said: "The United States has experienced
high rates of inflation in the past and appears to be running the same type
of fiscal policies that engendered hyperinflations in 20 countries over the
past century."
Stock
market staggers, but investors still may be too optimistic
Commentary:
Newsletters react to stock markets' losing week By Peter Brimelow,
MarketWatch12:04 AM ET Jul 17, 2006 Investors may still be too optimistic
NEW YORK (MarketWatch) -- First, a proprietary word: on Friday night, the
Hulbert Stock Newsletter Sentiment Index (HSNSI), which reflects the average
recommended stock market exposure among a subset of short-term market timing
newsletters tracked by the Hulbert Financial Digest, stood at plus-23.8%.
This was certainly below the 31.4% it showed on Tuesday night, when Mark
Hulbert worried, presciently we must say, that it was too strong from a contrary
opinion point of view. But it's still above its 12.6% reading at end of June,
although, Mark pointed out, the stock market had declined in the interim. And
since Mark wrote, the Dow Jones Industrial Average has had three triple-digit
down days.
Not
good.
Dow
Theory Letters' Richard Russell wrote Friday morning: "If the Dow breaks
support at 10,760, I think we could have some nasty action, even some
crash-type action." But, perhaps significantly, Russell did not quite
hit the panic button when the Dow did indeed close at 10,739 Friday night.
He simply remarked,
supporting the contrary opinion view: "Three days in a row with the Dow
down over 100 points each day -- you don't see that very often. But still no
signs of real fear, no capitulation, no panic -- just down, down, and down.
The key consideration here is that there is still no sign of big money coming
into this market. In fact, the big money has been leaving this market all
year. ... The longer the market continues down without a panic decline, the
worse the ultimate panic will be when it arrives."
What is Wrong with the Stock Market?
Dr. Khaled Batarfi
John D. Rockefeller was once asked why
he decided to sell all his stocks just months before the 1929 Wall Street
Crash. He explained: One morning, I was on the way to my office and stopped
to have my shoes polished. The guy asked my advice about the shares he
bought. If people with this kind of talent were now playing the market, I
knew there was something wrong.....
U.S. Treasury balances at Fed fell on July 17Tue Jul 18, 2006
WASHINGTON, July 18 (Reuters) - U.S. Treasury balances at the Federal
Reserve, based on the Treasury Department's latest budget statement (billions
of dollars, except where noted):
July 17 July 14 (respectively)
Fed acct4.087 4.935
Tax/loan note acct 10.502
10.155
Cash balance 14.589 15.192
National debt,
subject to limit 8,311.633
8,323.084
The statutory debt limit
is $8.965 trillion.
The Treasury said there were $192 million in
individual tax refunds and $23 million in corporate tax refunds issued.
End Of
The Bubble Bailouts A. Gary Shilling, Insight 08.29.06 - For a
quarter-century, Americans’ spending binge has been fueled by a declining
savings rate and increased borrowing. The savings rate of American consumers
has fallen from 12% in the early 1980s to -1.7% today (see chart below). This
means that, on average, consumer spending has risen about a half percentage
point more than disposable, or after-tax, income per year for a quarter-century.
The fact
that Americans are saving less and less of their after-tax income is only
half the profligate consumer story. If someone borrows to buy a car, his
savings rate declines because his outlays go up but his disposable income
doesn’t. So the downward march in the personal savings rate is closely linked
to the upward march in total consumer debt (mortgage, credit card, auto,
etc.) in relation to disposable income (see chart below).
Robust
consumer spending was fueled first by the soaring stock market of the 1990s
and, more recently, by the housing bubble, as house prices departed from
their normal close link to the Consumer Price Index (see chart below) and
subsequently racked up huge appreciation for homeowners, who continued to
save less and spend more. Thanks to accommodative lenders eager to provide
refinancings and home equity loans, Americans extracted $719 billion in cash
from their houses last year after a $633 billion withdrawal in 2004,
according to the Federal Reserve.
But the
housing bubble is deflating rapidly. I expect at least a 20% decline in
median single-family house prices nationwide, and that number may be way
understated. A bursting of the bubble would force many homeowners to curb
their outlays in order to close the gaps between their income and spending
growth. That would surely precipitate a major recession that would become
global, given the dependence of most foreign countries on U.S. consumers to
buy the excess goods and services for which they have no other markets.
That is, unless
another source of money can bridge the gap between consumer incomes and
outlays, just as house appreciation seamlessly took over when stocks
nosedived. What could that big new source of money be? And would it be
available soon, given the likelihood that house prices will swoon in coming
quarters?
One possible
source of big, although not immediate, money to sustain consumer spending is
inheritance. Some estimates in the 1990s had the postwar babies, who have
saved little for their retirement, inheriting between $10 trillion and $41
trillion from their parents in the coming decades. But subsequent work by
AARP, using the Federal Reserve’s Survey of Consumer Finances for 2004 and
previous years, slashed the total for inheritances of all people alive today
to $12 trillion in 2005 dollars. Most of it, $9.2 trillion, will go to
pre-boomers born before 1946, only $2.1 trillion to the postwar babies born
between 1946 and 1964, and $0.7 trillion to the post-boomers.
Furthermore,
the value of all previous inheritances as reported in the 2004 survey was
$49,902 on average, with $70,317 for pre-boomers, $48,768 for boomers and
$24,348 for post-boomers. Clearly, these are not numbers that provide for
comfortable retirements and, therefore, allow people to continue to spend
like drunken sailors.
What
other assets could consumers borrow against or liquidate to support spending
growth in the future? After all, they do have a lot of net worth, almost $54
trillion for households and nonprofit organizations as of the end of the
first quarter. Nevertheless, there aren’t any other big assets left to tap.
Another big stock bonanza is unlikely for decades, and the real estate bubble
is deflating.
Deposits
total $6.3 trillion, but the majority, $4.9 trillion worth, is in time and
savings deposits, largely held for retirement by financially conservative
people. Is it likely that a speculator who owns five houses has sizable time
deposits to fall back on? Households and nonprofits hold $3.2 trillion in
bonds and other credit market instruments, but most owned by individuals are
in conservative hands. Life insurance reserves can be borrowed, but their
total size, $1.1 trillion, pales in comparison to the $1.8 trillion that
homeowners extracted from their houses in the 2003-2005 years. There’s $6.7
trillion of equity in noncorporate business, but the vast majority of that is
needed by typically cash-poor small businesses to keep their doors open.
Pension
funds might be a source of cash for consumers who want to live it up now and
take the Scarlett O’Hara, “I’ll worry about that tomorrow” attitude toward
retirement. They totaled $11.1 trillion in the first quarter, but that number
includes public funds and private defined benefit plans that are seldom
available to pre-retirees unless they leave their jobs.
The
private defined contribution plans, typically 401(k)s, totaled $2.5 trillion
in 2004 and have been growing rapidly because employers favor them. But
sadly, many employees, especially those at lower income levels, don’t share
their bosses’ zeal. Only about 70% participate in their company 401(k) plans
and thereby take advantage of company contributions. Lower paid employees are
especially absent from participation, with 40% of those making less than
$20,000 contributing (60% of those earning $20,000 to $40,000), while 90% of
employees earning $100,000 or more participate.
Furthermore,
the amount that employees could net from withdrawals from defined
contribution plans would be far less than the $2.5 trillion total, probably
less than the $1.8 trillion they pulled out of their houses from 2003 to
2005. That $2.5 trillion total includes company contributions that are not
yet vested and can’t be withdrawn. Also, withdrawals by those under 59˝ years
old are subject to a 10% penalty, with income taxes due on the remainder.
With
soaring stock portfolios now ancient history and leaping house prices about
to be, no other sources, such as inheritance or pension fund withdrawals, are
likely to fill the gap between robust consumer spending and weak income
growth. Consumer retrenchment and the saving spree I’ve been expecting may
finally be about to commence. And the effects on consumer behavior,
especially on borrowing and discretionary spending, will be broad and deep.
Analysts' Forecasts and Brokerage-Firm Trading
THE ACCOUNTING REVIEW Vol. 79, No. 1 2004 pp. 125–149 Analysts’ Forecasts
and
Brokerage-Firm Trading Paul J. Irvine Emory University University of
Georgia
Collectively, these results suggest that analysts can generate higher trading
commissions through their positive stock recommendations than by biasing
their forecasts.
Sartre, Courtesy of Etherzone.com, on the Typical Criminal
american B**l S**t: "The official rate of inflation is a lie. Look at
the expense on essentials. The price tag of food has gone through the roof.
Energy, medical, insurance and education costs are unbearable. As the rise in
local and state taxes far out pace any minimal reductions on the federal
level. The huge balance of payments trade shortfall is no accident.
Government deficits grow, as massive debt piles up. No wonder the laws of
economic veracity require a loss of purchasing power in the value of the
currency".
Insiders Selling At A Rate Of 5 to 1! 'Peak Oil' Has Been Reached [In Part The Work Of The criminal
american (think tank/neo-cons/titans of industry/cia/nsa,etc.)
"geniuses" who have built up communist China militarily and
economically].
·Record
High Oil Prices
·Consumer
Confidence (consumption 65% of GNP) Down
·Record
High Deficits (budget, trade, attention, intelligence, etc.)
Wall
Street Lunacy 2007 
![second chart).]](http://albertpeia.com/Documents%20and%20SettingsalbertpeiaMy%20Documentsbear_markets_table_2.jpg){kind=link}
