Business / Economic / Financial
[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp- srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia (Only up to 3-11-11-you must be logged in - (Washington Post) [ Comments COMMENTS ARE CLOSED WHILE WE UPGRADE OUR SYSTEMS ] the comments are no longer archived on their site ) . The following is the cumulative archive of blog posts / topics for 2010 as the new year starts anew (and archived by quarter): http://albertpeia.com/December312010postsarchive.htm or PDF formatted version
http://albertpeia.com/December312010postsarchive.pdf ]
Liberals worry Obama has given up ground (Washington Post) [ Worried? Given up ground? Are they kidding? Is this some parallel universe they're operating in? Come on! Wake up! Wobama's done! Finito! He's been and is an abject failure as president; both by what he's done as not promised and not done as promised, viz., perpetual wars and overspending, etc., and no prosecutions of the frauds on wall street, etc., respectively. He is a total failure and an embarrassment to the presidency as was his predecessor. He's totally incompetent with an innate predilection to 'zig when he should zag' … 'wobama the b' (for b*** s***) is pathetic! Quite simply, for wobama, it's too late! … Drudgereport: RASMUSSEN: President hits new low Taxpayers foot $850M bill for Wall St.’s pension fees NY Post | New York City taxpayers are helping to pay $850 million in Wall Street investment fees.
Stiglitz, Soros, Summers try to remake global economy RT | George Soros brought together the economic elite to take apart and remake world finance.
Iceland rejects hostile takeover attempt in national referendum John Stratton | Iceland is the only country where the people have been allowed to have a say in the matter.
U.S. Deficit to Rise to Largest Among Major Economies, IMF Says The U.S. is set to have the largest budget deficit of major developed economies this year and should narrow it now rather than face tough adjustments in the next two years, the International Monetary Fund said.
Inflation, fueled by gas and food prices, adds to worry
White House warns of debt ‘Armageddon’
Drudgereport: Obama to Call for Higher Taxes...
DEFICIT ROCKETS 16% IN FIRST HALF OF YEAR...
Inflation Actually 'Near 10%'...
IMF: US 'lacks credibility' on debt...
'Stringent Austerity Measures' Needed...
BUDGET TRICKS, SLEIGHTS OF HAND IN BUDGET DEAL...
Conservatives' criticism growing...
Budget deal axes 'czars' -- who are already gone...] The president faces a rebellion on the left, with key groups concerned that he has let the GOP message of reducing government trump that of creating jobs.
CIA’s post-9/11 brain drain (Washington Post) [ Wow! Talk about the most positive 'take' (figuratively and literally) on what's become a typical pervasively corrupt, defacto bankrupt american modus operandi in sucking on the bureaucratic teet till dry (yes, drying up at break-speed). The unfortunate incorrect presumption by inference is that brain-drain implies some of value leaving the ranks of the CIA to bring their 'uplifting talents' / value to the ranks of non-government, private sector, etc.. Important as this flow of so-called seasoned personnel may be (I especially liked the Washington Post's expose on the ubiquity of top-level security clearances in the Washington Metro area), still ultimately a cost borne by taxpayers, I reasonably question their 'value' and the word 'brain' implying intelligent. From Iraq, to more current nation-bankrupting debacles, ie., Afghanistan, etc., to strategies concerning China (the transfers), one may reasonably lump them in the latter category according to that axiom, 'those who can, do' … those who can't, work for the u.s. government or are contractors for the u.s. government. So, I must say, the drains of so-called brains in the cia are, at the least, grossly exaggerated and I'd say, no loss at all. After all, look at the nation, domestically / internationally, including 9/11.
Pakistan Tells U.S. to Halt Drones Pakistan has privately demanded the Central Intelligence Agency suspend drone strikes against militants on its territory, one of the U.S.’s most effective weapons against al Qaeda and Taliban leaders, officials said.
6 year old girl groped then drug tested by TSA You Tube | Disturbing video shows the TSA groping a very young girl.
War crime? U.S. Troops Fire on Iraqi Detainees (Video) Aaron Dykes | Shocking video has surfaced from 2005 of U.S. troops firing on captive Iraqi detainees after a riot.
IRS to increase “pre-crime” enforcement Sovereign Man | Did you ever see Minority Report?
Libya: Increased Airstrikes, Ground Troops, Contractors, Civilians Killed, Deadly DU Munitions – Can We Call This A War Yet? The globalist coalition refers to it as ‘kinetic military action’, yet as more civilians are killed in NATO bombings, and with experts adamant that deadly Depleted Uranium weapons are being used by Western forces, the conflict in Libya looks a hell of a lot like the occupations of Afghanistan and Iraq all over again. ] Private firms have hired scores of top officers, partly to gain access to intelligence contracting.
Equity Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar [ Give this man a cigar ... he gets it right! ] Originally Posted on GoldShark.com 'Despite the terrible economic performance of the past ten years (both in terms of the markets and the general economy), equity valuations are now approaching the second largest bubble in United States history, surpassed only by the technology bubble.
Both the cause and the potential ramifications of this development are astounding.
Exhibit one: The cyclically-adjusted price-to-earnings ratio, or CAPE.
This is not a “fad” valuation metric. CAPE dates back to 1871, offering 140 years worth of data, during which time, the mean price-to-earnings ratio is 16.
According to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued according to this valuation metric. The only time the markets have been more overvalued was a few brief months in 1929 and the tech bubble.
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png ]
Exhibit 2: The Q ratio, which measures total market value compared to its replacement cost.
The Q-ratio data in the chart below dates back to 1900. According to the data, the markets have now surpassed the 1929 peak valuation by over 8%. In United States History, only the tech bubble was bigger than what we are experiencing today.
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_q_ratio_thumb1.png ]
Historically, bubbles turn a believable story and a trend into an overvaluation. In the 1700s during the South Sea Bubble, the mania driving the bubble was the seemingly endless wealth and prosperity of the New World. Railroading prospects induced a bubble in the late 1800s as America became connected from the east coast to the west coast. In the 1920s, a bubble formed on belief in the newly formed League of Nations (world peace), and more importantly, the society-changing impact of the automobile.
A similar life-changing invention – the Internet – swept the attention of investors in the 1990s as the prospect of a virtual marketplace would forever globalize commerce. Every bubble has a story, whether it be tulips or inventions or some other craze.
What is the story today? The prospect of inflation? High unemployment?
Exhibit 3: The gap between projected 12-month earnings against the 10-year average. (Two notes: a. the chart from Bloomberg fails to insert the word ‘projected’; Robert Shiller references this chart in this Bloomberg article. b. the 10-year average is the cyclically adjusted price to earnings ratio).
Considering the power of mean reversion, the market is stretching this reversion greater than 2000 and 2007!
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_gap_between_12_month_average_thumb1.png ]
Another question. Could the growth in earnings have been artificially manufactured?
To quote Elizabeth Barrett Browning: “Let me count the ways.”
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
· The extended (and then further extended) unemployment benefits have kept an artificially higher demand for consumer consumption. As a result, the US government has artificially subsidized corporate profits.
· The billions saved through “free loading” by homeowners who have defaulted on their mortgages yet maintained their residence, thus living without a mortgage payment.
· The artificially suppressed interest rates.
So, not only do we have a valuation bubble, but the earnings on which the projections are based are non-sustaining, and non-market driven. Brilliant. Again, I am left wondering how it is possible to find ourselves in the same overvaluation situation as a few years ago especially considering nothing has been resolved to actually fix the world’s economic system.
A parting thought: according to research conducted by the Duke University Medical Center, it would seem that even monkeys are capable of learning from their mistakes. Why can’t we?'
World financial leaders meet (Washington Post) [ Haven't they done enough damage? The Negative Volatility Regime: The Market's Disconnect From Global Turmoil The Hard Trade ( A very interesting and important read / perspective; but I believe he is far too kind, gentle, empathetic, and overly eager to euphemistically explain the criminal fraud that continues even as I write. Indeed, his explanation may fit for the more 'passive' market participants as they watch these frauds unfold in the face of dire, contraindicated facts and circumstances. Yet he ignores the reality in that we are talking about literally the criminally insane on wall street. Forget not that huge amounts of money, in the trillions, have been scammed through fraudulent means, ignoring reality, and with wink and nod embracing the convenient, glaringly inaposite non-truth. His explanation is analogous to trying posit some rationale to the serial killer as such confronts a new victim. Moreover, I also believe he ignores the role of modern-day technology, viz., complex computer programming in facilitating these frauds, high-frequency churn-and-earn trading (of no economic benefit in net real terms), the ease of which accomplished is too tempting for these predisposed criminals to resist. I truly believe that with the 'profit' / fraudulent gains taken out of the 'equation' through, ie., prosecution, fines, jail, disgorgement, etc., you'd be less likely (though not completely, given the nature of criminal insanity) to see such disconnect from those 'inconvenient truths' others of us know as reality. That said, as elsewhere set forth on this website, the psychological factor is among the factors considered when analyzing securities, others of which include the economy, growth of earnings, quality of earnings, etc.. But, make no mistake, they are greedy, criminally insane, and do it for the money ( in contravention of the rights of others as in, ie., anti-social personality disorder, among other psychological afflictions ). ] ' For months I have been frustrated and surprised by the action of the markets in the face of continued turmoil. In different contexts, I’ve used terms such as "disconnected" or "bifurcated" where there seems to be a total discontinuity between the facts and the market actions... he starts with behavioral finance and defines the normalcy bias:
Normalcy Bias and Crisis: A quirk of the human condition is for the mind to desire normalcy so intensely as to consciously or subconsciously disregard knowledge that is disruptive to a pre-conditioned reality. This phenomenon is an important part of crisis management and market psychology. The consequence of a normalcy bias is that warning signs of a potential crisis go unnoticed or are interpreted optimistically...'
When a crisis occurs people are so overwhelmed by events inconsistent with a desired reality they lose their ability to make decisions. Researchers believe when the mind encounters an entirely new experience or event it attempts to match that reality to relevant experiences from the past. If there are no matching experiences the mind enters into a kind of feedback loop resulting in passivity. This lack of action as a response to risk is called negative panic1 and it culminates in a dangerous inability to act assertively in crisis. In essence, the psyche struggles to come to terms with what is really happening. Paralysis follows. ( Interestingly, I believe this to be a more apt description of the Japanese reaction in this earthquake / tsunami induced nuclear crisis. )
He then goes on to discuss how the normalcy bias can lead investors to ignore looming threats, which in turn can lead to "a cancellation of short-term volatility risk premium that should otherwise exist." This new Negative Volatility Regime is defined by:
1. Large declines in spot volatility: The past nine months have shown an unusually high number of large declines in spot volatility (realized and implied) that are of a much higher magnitude and length than what has been observed historically. As a result of these large declines, the VIX index and short-term realized volatility are below historic averages;
2. Abnormally steep volatility curve: The manifestation of an abnormally steep volatility curve (as a % of spot volatility) with a linear shape that more closely resembles a glacial cliff as opposed to the more traditional desert plateau (see chart);
3. Underperformance of Variance Hedges: Low volatility-of-volatility on the back of the variance term-structure results in the underperformance of out-of-the-money options and variance as a hedge against market declines;
4. High Volatility Skew: High levels of volatility skew for far out-of-the-money options showing increased likelihood of large declines in equity prices.
The article has a detailed discussion and great graphs representing the shape of the volatility structure. The full report can be accessed at: Artemis Q1 2011_Is Volatility Broken. (It is posted with permission.)'
Cottarelli: U.S. needs ‘fiscal adjustment’ (Washington Post) I'd call this an understatement … pervasively corrupt, defacto bankrupt america needs far more than a 'fiscal adjustment' … How 'bout 'complete makeover' ... Gas prices fuel worries about recovery (Washington Post) More money spent at the pump means less to spend elsewhere.
[ If only gas prices were the only reasons for concern regarding the so-called recovery:
Weisenthal On Tuesday April 12, 2011, 1:02 pm EDT
‘Dear investors.You’ve had an amazing run since March 2009.
Maybe it’s time to get a little nervous. In addition to all kinds of dicey headlines — Japan (NYSE:EWJ), the Mideast, etc. –the economic data is starting to add up, and look like a slowdown.
You can see it in business confidence, headline GDP, and certain aspects of employment. Some previously hot industries are clearly starting to fade.
Case Shiller Is Showing The Housing Double Dip Getting Worse
Small Business Confidence Is Suddenly Turning Lower
Image: NFIB
Q1 GDP estimates have been getting slashed
Image: Wikimedia Commons
After starting off at 4%, estimates for GDP are now in some cases below 4%.
Durable goods have been weak Las Vegas gaming revenue has suddenly turned south again.
Image: WilWheaton on flickr
Oil prices have pushed the economy to the breaking point
http://static4.businessinsider.com/image/4da466804bd7c84422020000-547/markets-are-stalling-out.jpg
Markets are stalling out The age of cheap money is going away
With inflation on the rise, basically everything things QE2 is toast.
Austerity warnings from the UK
Image: Twitpic
In London, where fiscal tightening is further along than here, it’s having a clear effect on consumer spending. That’s coming to the US, too.’
U.S. trade deficit narrows in Feb. (Washington Post) [ This is truly hard to believe … maybe they're counting american products made in China with ie., Chinese, etc., components and shipped back here for a name slapped on the package before resale … see Dell, infra ... More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). ] A drop in U.S. imports from China and elsewhere helped narrow the trade deficit in January.
Yield Curve Appears to Be Flattening. Is Recession on the Way? The Hard Trade 'Slowly and quietly, spreads of the 2-10 year Treasuries decided not to blow out and instead have started coming back. What does it mean that in a world of increasing rates, we’re getting a flattening yield curve?
Here’s the 10 year yield (click to enlarge):
http://static.seekingalpha.com/uploads/2011/3/30/saupload_10yryld.png
Edging up slightly recently, and certainly not contracting. On the flip side, look at the 2-10 spread (click to enlarge):
http://static.seekingalpha.com/uploads/2011/3/30/saupload_2_10_yr.png
A few short months ago, hyper-inflationists were warning that this spread, which hit high after high, would blow out as inflation took hold, became rampant, and we’d be back to the middle ages. I was never in that camp, and while we see some inflationary pressures building, I think the main risk remains deflation as real estate, unemployment, etc. will drag down the consumer.
Regardless, the 2-10 spread has come back from the brink and the curve is now flattening. I don’t know which way we go from here, but my analysis is still that rates are headed higher on an absolute level and the flattening yield curve supports my view that a recession or worse could be on the way. It’s a bad combination to have higher rates, deflation of stores of wealth, and a government with no ability to provide future fiscal and monetary stimulus.'
Evacuees struggle to leave shelters Toshiba proposes to scrap 4 nuke reactors at Fukushima plant [ Am I missing something here … some failed attempt at (Japanese) humor … Wow! … remind me not to buy a Toshiba computer [ I’ve also just eliminated dell and apple’s just not worth it (way over-priced)( I previously eliminated SONY Vaio – In 2000 it was probably more of a windows millennium problem but owing to SONY ‘proprietary’ I wasn’t even able to install new operating system ) And, on top of the viral barrage and typical windows problems, I had some problems with the dell, and when I opened the 'case', though not displayed on the outside, this 'dell' computer as displayed in the inside was 'made in china'. With few exceptions, so were the components. So much for the 'american' company … I think the same to be true of apple, etc.. Then quite some time ago, a compaq (now owned by hp) and more recently a hewlett packard, respectively were eliminated – computers didn’t even work – how pathetic. ]. The only explanation is that the radiation must be eating at their brains. Was this proposal ever in doubt … even necessary? I’m at a loss for words! I really am! ] TOKYO, April 8 (Xinhua) -- Toshiba Corp. submitted a proposal to Tokyo Electric Power Co. (TEPCO) and the Ministry of Economy, Trade and Industry (METI) to decommission four troubled reactors at the Fukushima Daiichi nuclear power plant.
Taxpayers foot $850M bill for Wall St.’s pension fees NY Post | New York City taxpayers are helping to pay $850 million in Wall Street investment fees.
Equity Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar [ Give this man a cigar ... he gets it right! ] Originally Posted on GoldShark.com 'Despite the terrible economic performance of the past ten years (both in terms of the markets and the general economy), equity valuations are now approaching the second largest bubble in United States history, surpassed only by the technology bubble.
Both the cause and the potential ramifications of this development are astounding.
Exhibit one: The cyclically-adjusted price-to-earnings ratio, or CAPE.
This is not a “fad” valuation metric. CAPE dates back to 1871, offering 140 years worth of data, during which time, the mean price-to-earnings ratio is 16.
According to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued according to this valuation metric. The only time the markets have been more overvalued was a few brief months in 1929 and the tech bubble.
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png ]
Exhibit 2: The Q ratio, which measures total market value compared to its replacement cost.
The Q-ratio data in the chart below dates back to 1900. According to the data, the markets have now surpassed the 1929 peak valuation by over 8%. In United States History, only the tech bubble was bigger than what we are experiencing today.
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_q_ratio_thumb1.png ]
Historically, bubbles turn a believable story and a trend into an overvaluation. In the 1700s during the South Sea Bubble, the mania driving the bubble was the seemingly endless wealth and prosperity of the New World. Railroading prospects induced a bubble in the late 1800s as America became connected from the east coast to the west coast. In the 1920s, a bubble formed on belief in the newly formed League of Nations (world peace), and more importantly, the society-changing impact of the automobile.
A similar life-changing invention – the Internet – swept the attention of investors in the 1990s as the prospect of a virtual marketplace would forever globalize commerce. Every bubble has a story, whether it be tulips or inventions or some other craze.
What is the story today? The prospect of inflation? High unemployment?
Exhibit 3: The gap between projected 12-month earnings against the 10-year average. (Two notes: a. the chart from Bloomberg fails to insert the word ‘projected’; Robert Shiller references this chart in this Bloomberg article. b. the 10-year average is the cyclically adjusted price to earnings ratio).
Considering the power of mean reversion, the market is stretching this reversion greater than 2000 and 2007!
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_gap_between_12_month_average_thumb1.png ]
Another question. Could the growth in earnings have been artificially manufactured?
To quote Elizabeth Barrett Browning: “Let me count the ways.”
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
· The extended (and then further extended) unemployment benefits have kept an artificially higher demand for consumer consumption. As a result, the US government has artificially subsidized corporate profits.
· The billions saved through “free loading” by homeowners who have defaulted on their mortgages yet maintained their residence, thus living without a mortgage payment.
· The artificially suppressed interest rates.
So, not only do we have a valuation bubble, but the earnings on which the projections are based are non-sustaining, and non-market driven. Brilliant. Again, I am left wondering how it is possible to find ourselves in the same overvaluation situation as a few years ago especially considering nothing has been resolved to actually fix the world’s economic system.
A parting thought: according to research conducted by the Duke University Medical Center, it would seem that even monkeys are capable of learning from their mistakes. Why can’t we?'
The Negative Volatility Regime: The Market's Disconnect From Global Turmoil The Hard Trade [ A very interesting and important read / perspective; but I believe he is far too kind, gentle, empathetic, and overly eager to euphemistically explain the criminal fraud that continues even as I write. Indeed, his explanation may fit for the more 'passive' market participants as they watch these frauds unfold in the face of dire, contraindicated facts and circumstances. Yet he ignores the reality in that we are talking about literally the criminally insane on wall street. Forget not that huge amounts of money, in the trillions, have been scammed through fraudulent means, ignoring reality, and with wink and nod embracing the convenient, glaringly inaposite non-truth. His explanation is analogous to trying posit some rationale to the serial killer as such confronts a new victim. Moreover, I also believe he ignores the role of modern-day technology, viz., complex computer programming in facilitating these frauds, high-frequency churn-and-earn trading (of no economic benefit in net real terms), the ease of which accomplished is too tempting for these predisposed criminals to resist. I truly believe that with the 'profit' / fraudulent gains taken out of the 'equation' through, ie., prosecution, fines, jail, disgorgement, etc., you'd be less likely (though not completely, given the nature of criminal insanity) to see such disconnect from those 'inconvenient truths' others of us know as reality. That said, as elsewhere set forth on this website, the psychological factor is among the factors considered when analyzing securities, others of which include the economy, growth of earnings, quality of earnings, etc.. But, make no mistake, they are greedy, criminally insane, and do it for the money ( in contravention of the rights of others as in, ie., anti-social personality disorder, among other psychological afflictions ). ] ' For months I have been frustrated and surprised by the action of the markets in the face of continued turmoil. In different contexts, I’ve used terms such as "disconnected" or "bifurcated" where there seems to be a total discontinuity between the facts and the market actions. I now have a new term: The Negative Volatility Regime. In a new report from Artemis Capital, Christopher Cole outlines the current environment by focusing on volatility. After my own heart, he starts with behavioral finance and defines the normalcy bias:
Normalcy Bias and Crisis: A quirk of the human condition is for the mind to desire normalcy so intensely as to consciously or subconsciously disregard knowledge that is disruptive to a pre-conditioned reality. This phenomenon is an important part of crisis management and market psychology. The consequence of a normalcy bias is that warning signs of a potential crisis go unnoticed or are interpreted optimistically. When a crisis occurs people are so overwhelmed by events inconsistent with a desired reality they lose their ability to make decisions. Researchers believe when the mind encounters an entirely new experience or event it attempts to match that reality to relevant experiences from the past. If there are no matching experiences the mind enters into a kind of feedback loop resulting in passivity. This lack of action as a response to risk is called negative panic1 and it culminates in a dangerous inability to act assertively in crisis. In essence, the psyche struggles to come to terms with what is really happening. Paralysis follows. ( Interestingly, I believe this to be a more apt description of the Japanese reaction in this earthquake / tsunami induced nuclear crisis. )
He then goes on to discuss how the normalcy bias can lead investors to ignore looming threats, which in turn can lead to "a cancellation of short-term volatility risk premium that should otherwise exist." This new Negative Volatility Regime is defined by:
1. Large declines in spot volatility: The past nine months have shown an unusually high number of large declines in spot volatility (realized and implied) that are of a much higher magnitude and length than what has been observed historically. As a result of these large declines, the VIX index and short-term realized volatility are below historic averages;
2. Abnormally steep volatility curve: The manifestation of an abnormally steep volatility curve (as a % of spot volatility) with a linear shape that more closely resembles a glacial cliff as opposed to the more traditional desert plateau (see chart);
3. Underperformance of Variance Hedges: Low volatility-of-volatility on the back of the variance term-structure results in the underperformance of out-of-the-money options and variance as a hedge against market declines;
4. High Volatility Skew: High levels of volatility skew for far out-of-the-money options showing increased likelihood of large declines in equity prices.
The article has a detailed discussion and great graphs representing the shape of the volatility structure. The full report can be accessed at: Artemis Q1 2011_Is Volatility Broken. (It is posted with permission.)'
Weisenthal On Tuesday April 12, 2011, 1:02 pm EDT
‘Dear investors.You’ve had an amazing run since March 2009.
Maybe it’s time to get a little nervous. In addition to all kinds of dicey headlines — Japan (NYSE:EWJ), the Mideast, etc. –the economic data is starting to add up, and look like a slowdown.
You can see it in business confidence, headline GDP, and certain aspects of employment. Some previously hot industries are clearly starting to fade.
Case Shiller Is Showing The Housing Double Dip Getting Worse
Small Business Confidence Is Suddenly Turning Lower
Image: NFIB
Q1 GDP estimates have been getting slashed
Image: Wikimedia Commons
After starting off at 4%, estimates for GDP are now in some cases below 4%.
Durable goods have been weak Las Vegas gaming revenue has suddenly turned south again.
Image: WilWheaton on flickr
Oil prices have pushed the economy to the breaking point
http://static4.businessinsider.com/image/4da466804bd7c84422020000-547/markets-are-stalling-out.jpg
Markets are stalling out The age of cheap money is going away
With inflation on the rise, basically everything things QE2 is toast.
Austerity warnings from the UK
Image: Twitpic
In London, where fiscal tightening is further along than here, it’s having a clear effect on consumer spending. That’s coming to the US, too.’
Yield Curve Appears to Be Flattening. Is Recession on the Way? The Hard Trade 'Slowly and quietly, spreads of the 2-10 year Treasuries decided not to blow out and instead have started coming back. What does it mean that in a world of increasing rates, we’re getting a flattening yield curve?
Here’s the 10 year yield (click to enlarge):
http://static.seekingalpha.com/uploads/2011/3/30/saupload_10yryld.png
Edging up slightly recently, and certainly not contracting. On the flip side, look at the 2-10 spread (click to enlarge):
http://static.seekingalpha.com/uploads/2011/3/30/saupload_2_10_yr.png
A few short months ago, hyper-inflationists were warning that this spread, which hit high after high, would blow out as inflation took hold, became rampant, and we’d be back to the middle ages. I was never in that camp, and while we see some inflationary pressures building, I think the main risk remains deflation as real estate, unemployment, etc. will drag down the consumer.
Regardless, the 2-10 spread has come back from the brink and the curve is now flattening. I don’t know which way we go from here, but my analysis is still that rates are headed higher on an absolute level and the flattening yield curve supports my view that a recession or worse could be on the way. It’s a bad combination to have higher rates, deflation of stores of wealth, and a government with no ability to provide future fiscal and monetary stimulus.'
Taxpayers foot $850M bill for Wall St.’s pension fees NY Post | New York City taxpayers are helping to pay $850 million in Wall Street investment fees.
Stiglitz, Soros, Summers try to remake global economy RT | George Soros brought together the economic elite to take apart and remake world finance.
Iceland rejects hostile takeover attempt in national referendum John Stratton | Iceland is the only country where the people have been allowed to have a say in the matter.
U.S. Deficit to Rise to Largest Among Major Economies, IMF Says The U.S. is set to have the largest budget deficit of major developed economies this year and should narrow it now rather than face tough adjustments in the next two years, the International Monetary Fund said.
Inflation, fueled by gas and food prices, adds to worry
White House warns of debt ‘Armageddon’ The White House warned Republicans on Monday that failing to raise the $14.29 trillion US debt limit would spark “Armageddon-like” consequences for the slowly recovering US economy.
Bernanke: Middle Class Murderer Max Keiser and co-host, Stacy Herbert, report on the murderer of the middle class and how the wealth effect equals the poverty effect.
(4-12-11) Dow 12,263 -118 Nasdaq 2,744 -27 S&P 500 1,314 -10 [CLOSE- OIL $105.83 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $3.67 (reg. gas in LAND OF FRUITS AND NUTS $4.07 REG./ $4.14 MID-GRADE/ $4.22 PREM./ $4.27 DIESEL) / GOLD $1,453 (+24% for year 2009) / SILVER $40.09 (+47% for year 2009) PLATINUM $1,771 (+56% for year 2009) Metal News for the Day / DOLLAR= .69 EURO, 83 YEN, .60 POUND STERLING, ETC. (How low can you go - LOWER)/ Interest Rates: http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield 10 YR NOTE YIELD 3.51% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!
National / World
Top Scientist: Fukushima Meltdown Could Trigger Atomic Explosion Kurt Nimmo | Missing isotope readings will reveal if explosions were hydrogen or nuclear.
Alex Covers Government Secrecy on Coast to Coast AM Alex Jones | Alex joined Coast to Coast AM to talk about government secrecy.
Libya: Can We Call This A War Yet? Steve Watson | British and French foreign ministers criticize NATO and call for other alliance countries to intensify military operations.
The Nanny State Can’t Last Ron Paul | Despite the fear-mongering, a government shutdown would not have been as bad as claimed.
6 year old girl groped then drug tested by TSA You Tube | Disturbing video shows the TSA groping a very young girl.
War crime? U.S. Troops Fire on Iraqi Detainees (Video) Aaron Dykes | Shocking video has surfaced from 2005 of U.S. troops firing on captive Iraqi detainees after a riot.
IRS to increase “pre-crime” enforcement Sovereign Man | Did you ever see Minority Report?
Libya: Increased Airstrikes, Ground Troops, Contractors, Civilians Killed, Deadly DU Munitions – Can We Call This A War Yet? The globalist coalition refers to it as ‘kinetic military action’, yet as more civilians are killed in NATO bombings, and with experts adamant that deadly Depleted Uranium weapons are being used by Western forces, the conflict in Libya looks a hell of a lot like the occupations of Afghanistan and Iraq all over again.
Top Scientist: Fukushima Meltdown Could Trigger Atomic Explosion A British professor and expert on the health effects of ionizing radiation told Alex Jones today evidence points toward a nuclear explosion occurring at the Fukushima Daiichi complex. Two explosions at the plant in March were described as hydrogen gas explosions by Japanese officials and the corporate media.
Fukushima Introduces Deadly Strontium Into Environment Japan has admitted the Fukushima Daiichi nuclear disaster is on par with the one at Chernobyl. At the same time, Japan’s science and technology ministry reports strontium, a heavy radioactive metal that is a catalyst for leukemia, has been detected around the crippled reactors. In addition to leukemia, strontium causes cancers of the bone, nose, lung, and skin.
Thermal cameras look inside homes to monitor energy efficiency The city of Boston has been taken to task by the ACLU over concerns about a roll-out of thermal imaging cameras being used to monitor energy efficiency inside homes. A pilot program to take aerial and street-level photos of heat loss in Boston was part of a scheme to encourage participation in home energy improvement programs, as well as to drive consumers towards green companies.
Alex Jones’ Audio Blog April 12, 2011 Alex often wakes up at night wanting to take down the thoughts running through his head, so he adopted his audio blog format to try to capture that state of mind. It is admittedly an experiment– he is still a bit dazed, for instance, during the beginning of the blog. Yet in many ways, Alex is more calm and focused at home and in peace, allowing for greater reflection on humanity’s bigger picture.
Cornel West Calls Obama a Black Mascot of Wall Street Oligarchs The outspoken Princeton professor has not-so-kind words for Al Sharpton and President Obama.
Stiglitz, Soros, Summers try to remake global economy The original Bretton Woods conference of world leaders created the global economic framework still in place today.The one that took place over the weekend put on by the Institute for New Economic Thinking — a think tank bankrolled by billionaire investor George Soros – brought together some of the economic elite to take it apart and talk about how to make a new one. So where is the global economy, and specifically the United States headed now?
Fukushima radiation taints US milk supplies at levels 300% higher than EPA maximums The US Environmental Protection Agency (EPA) continues to release new data showing that various milk and water supply samples from across the US are testing increasingly high for radioactive elements such as Iodine-131, Cesium-134, and Cesium-137, all of which are being emitted from the ongoing Fukushima Daiichia nuclear fallout.
Pakistan Tells U.S. to Halt Drones Pakistan has privately demanded the Central Intelligence Agency suspend drone strikes against militants on its territory, one of the U.S.’s most effective weapons against al Qaeda and Taliban leaders, officials said.
Drudgereport: JAPAN NOW ADMITS: IT'S CHERNOBYL...
Tries to Explain Delays in Reporting Radiation...
Obama to Call for Higher Taxes...
DEFICIT ROCKETS 16% IN FIRST HALF OF YEAR...
Inflation Actually 'Near 10%'...
IMF: US 'lacks credibility' on debt...
'Stringent Austerity Measures' Needed...
BUDGET TRICKS, SLEIGHTS OF HAND IN BUDGET DEAL...
Conservatives' criticism growing...
Budget deal axes 'czars' -- who are already gone...
Proposal $773B Higher Than 2008 Budget...
$5 GAS BY MEMORIAL DAY
Thermal Cameras On Boston Streets Can Show Activity Inside Homes...
Pump prices less than 10% below record high...
San Fran highest at $4.13...
OBAMA MAN: TRUMP HAS 'ZERO CHANCE' [ Hard to believe, or maybe because this particular factual reality is so easy to believe because it's so obviously true, but wobama finally got something right, not that it changes anything for him! ]
Despite Vote, We're Keeping FCC Internet Rules! [ Pelosi finally gets something right! ] [ wobama, pelosi finally uncharacteristically correct, albeit once each in their lifetime ... must be the japanese radiation ... ]
9th Body Found In NY Serial Killer Probe, Possibly A 10th...
Obama regrets HIS vote against raising debt limit...
RASMUSSEN: President hits new low 'strongly approve' – 19%...
UPDATE: Egyptians turn anger on army in Cairo protest...
New Clashes in Tahrir Square...
Gaza-Israel violence rages...
'West wants war'...
'Mideast Without Israel and America Now Possible'...
Despite Vote, We're Keeping FCC Internet Rules! [ Pelosi finally gets something right! ]
US Debt Jumped $54 Billion in Week Preceding Deal to Cut $38 Billion...
11TH HOUR: LET'S MAKE A DEAL
Obama: 'Americans of different beliefs came together'...
Takes credit for 'biggest annual spending cut in history'...
'LIVE WITHIN OUR MEANS'...
FLASHBACK: Deficit Forecast Nears $1.5 Trillion...
SURPRISE: Government shutdown averted...
Spending cuts total nearly $40 billion...
$78 billion below Obama request...
Deal bans DC from spending funds for abortion, continues school voucher program...
BOEHNER: 'As good a deal as we could get'...
REPORT: Oprah won't endorse Obama for re-election...
Poll: Obama Struggling With Whites...
Even black voters slip...
OIL JUMPS 2% -- IN A DAY...
Fever for Gold, Silver Grips Investors...
Biden daughter trashes Trump...
Bill Cosby slams: 'He's full of it!'...
Trump Takes On NYT, Gail Collins...
Admires her for surviving 'so long with so little talent'...
NBCWSJ POLL SHOCK: TRUMP #2 GOP [ NBC where t_rump has his Jerry Springer derivative shock-jock show and sinkhole new york's fraud street journal … poll? … Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider firing Donald Trump Daily Caller ... Milbank: Donald trumps CPAC | Gibbs gone (Washington Post) [ Trump’s a loser, dressed up and propped up by and to shill for a declining, fallen nation in the most corrupt regions (ie., new york, jersey, etc.) of the country (every fallen nation has such); of that there is no question …"Over the years I've participated in many battles and have really almost come out very, very victorious every single time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s never won a battle that wasn’t fixed in advance (including the ‘pre-packaged bankrupcies’ crammed down the throats of objecting creditors – jersey general ] He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people and companies, and I've won many wars," he added. (Though he didn't serve in the military.) "I have fairly [according to mobster rules; ie., bribery, money laundering, etc.] but intelligently [ as any other mob boss … trump is total b*** s***, a fraud, and lightweight … and, despite the façade, quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of american decline and part of the problem, not the solution! …trump also said america’s become the laughingstock of the world … true enough … and trump the biggest joke … NEWS FLASH: Direct from Lost Angeles Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now caleefornia mob fame with his continuing message for the past several years: buy real estate (and watch the values go down…..riiiiight!).
Bank sues Trump over Chicago tower loan...
Trump casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With Employee Killed – What else would you you expect from a mobster’s casino in mob-infested jersey!
Trump luxury resort folds, leaving buyers defrauded…litigation has commenced…send for sister maryanne, the corrupt federal judge to preside, coverup, etc., she’s in n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud and handles her own motions to recuse her and like mobster trump should be in jail ... (see RICO Case)] earned many billions of dollars [ at whose expense ], which in a sense was both a scorecard and acknowledgment of my abilities [ to fool most of the people, all of the time. ] ." TRUMP DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING PRESIDENTIAL RUN... [Don’t make me laugh! … Donald T_rump Would Impose 25% Tax on China Imports if President [ trump also said america’s become the laughingstock of the world … true enough … and trump the biggest joke … Indeed, that trump even posits the possibility of a run when he should be in jail is a testament to just how big a laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and scoundrel trump wraps himself in populist american flag and offers up an (too little too late – typical lightweight) implausible solution to keep ‘the juice’ flowing though he’d already be in jail in a rational, non-declining nation with meaningful laws. All China has to do is dump (and not prospectively buy) their ever more and declining in value day-by-day (from dollar debasement policies) u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down to it, this has been america’s most significant export. Indeed, this irrevocable structural shift, hailed by cia men hw bush and clinton (clinton couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no uncertain terms condemned and warned against by Perot, a man of honor who, unlike his opponents, could not be bought, which is the reason, in pervasively corrupt america, he could never have been elected. Interestingly, you may have noticed the good (but not great, other than the spotlight on pervasive bribery including judges, police, politicians, etc., being far too light) the film ‘The Untouchables’ getting a wide re-airing of late, purporting to be a significant part of american folklore / history / culture. However, the reality is that in america, and certainly today, the real story with impact is that of ‘The Touchables’. The reality is that Elliot Ness died a broken man; bankrupt, unable to even win election to the mayoralty of his then current hometown. He was incorruptible; and hence, in the real america, unelectable at the least if not also all but unemployable (he and his are among those few genetic anomalies in america as I’ve previously alluded to. How far america has fallen from even false perception! Pervasively corrupt, meaningfully lawless america can’t even fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense … The pervasively corrupt american illegal system … corrupt u.s. courts / (lawyers) / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation. ] “I would announce, without equivocation, a 25% tax increase on anything purchased from China.” ]
CHENEY HECKLED... 'DRAFTDOGER!' 'WHERE'S BIN LADEN?' ]
65 Ways That Everything That You Think That You Own Is Being Systematically Taken Away From You
The Economic Collapse April 12, 2011 'Everything that you own is slowly being taken away from you. It is being done purposely and it is being done by design. Many Americans like to think of themselves as “well off”, but as will be demonstrated below, we don’t “own” nearly as much as we think that we do. The truth is that most of us have to frantically run around accumulating wealth as rapidly as we can so that we can somehow stay ahead of the rate that wealth is being taken away from us. The entire system is designed to take what you have away from you. There are many ways that this is accomplished – taxation, inflation, debt, interest, fines, fees, tickets, government seizures and good old-fashioned corporate greed. If you tried to just sit back and do nothing but hold on to the wealth that you already have you would find out that it would disappear rather quickly. When you take the time to really analyze our system the conclusion is undeniable – everything that you think that you own is being systematically taken away from you.
There is a reason why the wealthiest one percent of all Americans control 40 percent of all the wealth in the United States. The system is designed to funnel all of the wealth to them and to the government. Average Americans are experiencing a declining standard of living and it is not by accident.
Just check out some of the ways that our wealth is being taken from us….
#1 Do you think that you own your house? You might want to think again. Most Americans that “own a home” are paying a mortgage. If you stop paying that mortgage you will lose that home. Over a million American families were kicked out of their homes last year. This year a million more American families will get the boot.
But when those families get booted out onto the street they don’t get their down payments back. They don’t get all the mortgage payments that they have made back. The banks get to keep all of the money and all of the houses.
Perhaps you don’t have a mortgage. Does that mean that you “own your home”?
No, not really. Just refuse to pay your property taxes and watch what happens. At best you can say that you have the right to rent your home from the government.
In any event, the reality is that the banks now own more of “our homes” than we do. During the most recent recession, the total amount of U.S. home equity owned by the banks surpassed the total amount of U.S. home equity owned by the rest of us for the first time ever.
Things used to be far different in this country. Once upon a time American families owned most of the houses and most of the land in this nation.
But now the banks own most of it. Sadly, most American families that believe that they “own homes” are actually enslaved to 20 or 30 year debt contracts.
#2 Do you think that you own your car? You don’t own it if you are still making payments on it. If you stop making payments you will rapidly lose that car.
But even if your car is paid off, you can only operate that car if you do the following….
*You must pay the license fee
*You must pay the car registration fee
*You must pay the emissions inspection fee
*You must pay the property taxes on that car (if that applies in your area)
*You must pay the tire taxes
*You must pay the gas taxes
If you have paid all of those taxes, then you are permitted to drive only where the government allows you to drive and only under the rules that the government sets for you.
But at least you “own” your car, right?
#3 What about your possessions? Do you own them?
Well, yes, you probably own some possessions.
But that doesn’t mean that they are not enslaving you.
After all, did you use a credit card to pay for any of them?
If so, you could end up paying much more for your possessions than you originally thought that they cost.
For example, if you only make the minimum payment on your credit card each month, a $6,000 credit card bill could end up costing you over $30,000 (depending on the interest rate).
#4 Do you own your education? Well, it is undeniable that nobody can ever take it away from you. But if you took out student loans that debt may end up enslaving you for decades.
The borrower is the servant of the lender and student loan debt is more of a financial drain on Americans than ever before. Americans now owe more on student loans than they do on credit cards. As hard as that is to believe, that is actually true. Americans now owe more than $903 billion on student loans, which is a new all-time record.
#5 Will you protect your wealth if you put your money in the bank?
No, in fact your wealth will be systematically destroyed in the bank.
Inflation is a hidden tax on every single dollar that you own. It destroys the value of all dollars in existence. There are some Americans that have been saving money for decades, but those savings are being taxed into oblivion by inflation. Many experts are now projecting that the average price of a gallon of gasoline will hit $5 by the end of the year. So the next time you go to the gas pump just take a moment to think about how your wealth is being drained away by inflation.
#6 Insurance costs continue to soar. After insuring everything in our lives many of us barely have any money left over to actually live our lives with. In particular, health insurance premiums have become completely and totally ridiculous. According to the Los Angeles Times, Blue Shield of California plans to raise rates an average of 30% to 35%, and some individual policy holders could see their health insurance premiums rise by a whopping 59 percent this year alone. So how are American families supposed to survive if they keep on handing over bigger and bigger chunks of their income to thehealth care industry?
#7 State and local governments all over the nation have turned to ticket writing as a primary revenue source. In fact, in some areas of the country traffic citations are soaring at a crazy rate. For example, 110,000 more traffic citations were written in Los Angeles County last fiscal year than were written in the fiscal year immediately prior to the last recession.
The truth is that the police even realize what is going on. Just consider the following quote from from Police Chief Michael Reaves of Utica, Michigan….
“When I first started in this job 30 years ago, police work was never about revenue enhancement, but if you’re a chief now, you have to look at whether your department produces revenues.”
#8 Some states have decided to simply confiscate wealth even if nothing has been done wrong. For example, the state of California is aggressively seizing “unclaimed” safe deposit boxes. If you have a safe deposit box that you have not checked on in a while you might want to make sure that it is still there.
#9 You might end up losing your valuables when you cross the border. It is being reported that U.S. border agents are now regularly seizing laptops and other electronic devices as people cross the border. In many cases those items are never returned.
#10 If you don’t pay your property taxes, you will lose your house and it will likely be a big Wall Street bank that will be taking it from you. As I have written about previously, the big Wall Street banks are buying up thousands upon thousands of tax liens and are making a killing by socking distressed homeowners with predatory interest, outrageous penalties and almost unbelievable legal fees.
#11 Of course the biggest way that our wealth is being drained is through federal income taxes. The reason that the Federal Reserve and the IRS were established back in 1913 was to redistribute wealth. Wealth is transferred from the American people to the U.S. government and then ultimately to the elite and to the causes that the elite favor.
But federal taxes are only one of the taxes that we pay. The truth is that the average American pays dozens of different taxes each year. Just check out a few examples of the different taxes that drain our wealth….
#12 Accounts Receivable Taxes
#13 Building Permit Taxes
#14 Capital Gains Taxes
#15 CDL License Taxes
#16 Cigarette Taxes
#17 Corporate Income Taxes
#18 Court Fines (indirect taxes)
#19 Dog License Taxes
#20 Federal Unemployment Taxes (FUTA)
#21 Fishing License Taxes
#22 Food License Taxes
#23 Gasoline Taxes
#24 Gift Taxes
#25 Hunting License Taxes
#26 Inheritance Taxes
#27 Inventory Taxes
#28 IRS Interest Charges (tax on top of tax)
#29 IRS Penalties (tax on top of tax)
#30 Liquor Taxes
#31 Local Income Taxes
#32 Luxury Taxes
#33 Marriage License Taxes
#34 Medicare Taxes
#35 Payroll Taxes
#36 Property Taxes
#37 Real Estate Taxes
#38 Recreational Vehicle Taxes
#39 Road Toll Booth Taxes
#40 Road Usage Taxes (Truckers)
#41 Sales Taxes
#42 Self-Employment Taxes
#43 School Taxes
#44 Septic Permit Taxes
#45 Service Charge Taxes
#46 Social Security Taxes
#47 State Income Taxes
#48 State Unemployment Taxes (SUTA)
#49 Telephone federal excise taxes
#50 Telephone federal universal service fee taxes
#51 Telephone federal, state and local surcharge taxes
#52 Telephone minimum usage surcharge taxes
#53 Telephone recurring and non-recurring taxes
#54 Telephone state and local taxes
#55 Telephone usage charge taxes
#56 Toll Bridge Taxes
#57 Toll Tunnel Taxes
#58 Traffic Fines (indirect taxation)
#59 Trailer Registration Taxes
#60 Utility Taxes
#61 Vehicle License Registration Taxes
#62 Vehicle Sales Taxes
#63 Watercraft Registration Taxes
#64 Well Permit Taxes
#65 Workers Compensation Taxes
Even the future is being taken away from us. The future is literally being stolen from our children and our grandchildren. They will be inheriting the 14 trillion dollar (and still rising) national debt that we have accumulated. What we have done to future generations is unthinkable, and yet we continue to endlessly borrow more money. The Congressional Research Service estimates that the U.S. government will need to borrow $738 billion between April 1st and September 30th. Faith in U.S. Treasuries is falling so rapidly that now the biggest bond fund in the world, PIMCO, is actually shorting U.S. Treasuries.
When you base an entire economy on debt, eventually you end up withmoney problems that never seem to end. As a nation we are now enslaved to a vicious spiral of debt that is going to destroy everything that our forefathers worked so hard to build.
As the debt loads of our federal, state and local governments become even more burdensome, they are going to want even more money from us. For decades we gave in to new tax after new tax thinking that it would finally satisfy them. But it never seems to be enough. They always want more.
It is the same thing with the banksters. They are never satisfied either. They always want more assets and they always want more Americans to be enslaved to debt.
Unfortunately, most Americans are so caught up in the “rat race” that they never take much time to think about who designed the race or why they are running it.
Hopefully more Americans will wake up and will realize that our entire economy and our entire financial system need to be reformed. Our current system is inherently flawed and it will eventually impoverish the vast majority of us if we allow it to.'
Cuts will affect vast spectrum of priorities (Washington Post) [ Drudge was reporting that the new focus will be trillions, not as just passed, the billions in cuts, which I did not include / highlight because that's not news! Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ . ] More than half of the $38 billion in spending cuts that lawmakers agreed to last week in the 2011 budget compromise that averted a government shutdown would hit education, labor and health programs. [The Return of the Carry Trade? [ Wikipedia http://en.wikipedia.org 'What Does Currency Carry Trade Mean? A strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate. A trader using this strategy attempts to capture the difference between the rates, which can often be substantial, depending on the amount of leverage used. - The carry of an asset is the return obtained from holding it (if positive), or the cost of holding it (if negative) (see also Cost of carry).For instance, commodities are usually negative carry assets, as they incur storage costs or may suffer from depreciation, but in some circumstances, appropriately hedged commodities can be positive carry assets if the forward/futures market is willing to pay sufficient premium for future delivery. This can also refer to a trade with more than one leg, where you earn the spread between borrowing a low carry asset and lending a high carry one; such as gold during financial crisis, due to its safe haven quality. Carry trades are not arbitrages: pure arbitrages make money no matter what; carry trades make money only if nothing changes against the carry's favor. ]
ETF News Update: Theater of the Absurd Nyaradi 'This week’s soap opera in Washington, D.C. was truly the “theater of the absurd” as Congress and the President wrangled over an “historic” $39 billion budget cut that pales sadly in comparison to the $189 billion deficit that the Federal Government ran up in March alone.We’ll discuss this in greater detail in a moment, but for today, we are content with our positions in gold, oil and inverse exchange traded funds and we remain in the defensive mode, anticipating stronger headwinds ahead. On My Radar
http://static.seekingalpha.com/uploads/2011/4/11/saupload_spxpf040911.png …’ ]
China shows small trade deficit (Washington Post) [ Result leads some to suggest more “balance” in the economy. Japan to raise nuclear crisis alert level to 7, equal to Chernobyl event Japan media reports move from level 5 to level 7, the highest, at tsunami-stricken nuclear plant. Japan quake may lead to more seismic trouble Evacuees struggle to leave shelters Toshiba proposes to scrap 4 nuke reactors at Fukushima plant [ Am I missing something here … some failed attempt at (Japanese) humor … Wow! … remind me not to buy a Toshiba computer [ I’ve also just eliminated dell and apple’s just not worth it (way over-priced)( I previously eliminated SONY Vaio – In 2000 it was probably more of a windows millennium problem but owing to SONY ‘proprietary’ I wasn’t even able to install new operating system ) And, on top of the viral barrage and typical windows problems, I had some problems with the dell, and when I opened the 'case', though not displayed on the outside, this 'dell' computer as displayed in the inside was 'made in china'. With few exceptions, so were the components. So much for the 'american' company … I think the same to be true of apple, etc.. Then quite some time ago, a compaq (now owned by hp) and more recently a hewlett packard, respectively were eliminated – computers didn’t even work – how pathetic. ]. The only explanation is that the radiation must be eating at their brains. Was this proposal ever in doubt … even necessary? I’m at a loss for words! I really am! ] TOKYO, April 8 (Xinhua) -- Toshiba Corp. submitted a proposal to Tokyo Electric Power Co. (TEPCO) and the Ministry of Economy, Trade and Industry (METI) to decommission four troubled reactors at the Fukushima Daiichi nuclear power plant, ...Previous: City withers in shadow of reactors (Washington Post) Japan dumps radioactive water into ocean [ Japan will never be viewed nor be quite the same again; somewhat hapless, if not hopeless, they have indeed become. Drudgereport: JAPAN TRIES 'SHREDDED NEWSPAPER' TO STOP NUKE LEAK (Well, there you go … a nostalgic throwback to yesteryear … paper maché … who woulda' thunk it … or remembered it … riiiiight … sounds like a plan!) 4 of 6 Daiichi reactors can’t be fixed (WP) [ I continue to believe this to be a far more serious catastrophe with further reaching consequences, economically, financially, and otherwise than are being sloughed off by markets, pols, and media. It truly is sad to even think about what seem likely to be 'suicide jobs' but I must say I was incredulous regarding the $5,000 / day offer of recruitment for such workers (short-term? … for as long as they live?... Wow! … I immediately thought of skid row, the bowery, and admit to being somewhat ashamed for having done so.) Fukushima Nuke Plant Now in Full Meltdown Kurt Nimmo | Smoke was reported at a second nuclear power plant in Japan today. Japan’s Nuclear Rescuers: ‘Inevitable Some of Them May Die Within Weeks’ Workers at the disaster-stricken Fukushima nuclear plant in Japan say they expect to die from radiation sickness as a result of their efforts to bring the reactors under control, the mother of one of the men tells Fox News.Smoke Rises from DIFFERENT Nuclear Complex … 7 Miles from the Leaking Reactors The same nuclear power plant operator that runs the Daiichi complex – Tepco – runs a separate nuclear complex 7 miles away, called Fukushima Daini. There are 4 reactors located at the Daini complex.Japan Considers Entombing Nuclear Plant as Workers Fight to Stop Radiation Bloomberg | Japan will consider entombing its crippled atomic plant in concrete. Reactors now leaking plutonium into soil New York Post | “The situation is very grave,” Chief Cabinet Secretary Yukio Edano said today. ]Workers continue to endure soaring radiation levels as they work to stave off a full-scale meltdown. ] In area that survived quake and tsunami largely intact, nuclear fears have created a ghost town.
The shrinking alliance (Washington Post) [ I think in the final analysis, the inverse relationship between the size of the hu / hah, gung ho, nato alliance / participation in these military adventures abroad and the size of the respective members' deficits will become 'clear as an unmuddied lake'. Globalists Coming Full Circle Tony Cartalucci | Long before the verified lies of Qaddafi’s “door-to-door” genocide, Libya was already marked for destabilization and regime change. From Ivory Coast to Libya And Beyond: The Conquest of Africa Rick Rozoff | Two of only five African nations not partnered with the Pentagon through AFRICOM are the targets of violent uprisings aimed at toppling their governments. Leahy: Obama Needs Congressional Approval to Put Troops in Libya CNS News | Senate Judiciary Chairman Patrick Leahy said President Obama needs congressional approval to send U.S. troops into Libya. Permanent Occupation: Gates Admits US Troops To Remain In Iraq Beyond 2011 The world’s media reacted with a collective shrug of the shoulders today as Defense Secretary Robert Gates admitted that US troops are likely to stay in Iraq beyond 2011, making another scheduled withdrawal date nothing more than an empty meaningless promise. Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ . ] Blink, and you might miss NATO’s disappearance.
Gerson: Obama’s tap dance on a tightrope (Washington Post) [ What an understatement … wobama the b (for b*** s***)Yeah! An appropriate word picture straight out one of the old Roach ' Our Gang' comedies … and I'm not going say which characters are which, according to wobama we must share the sacrifice, which means you because we all know how the wobamas sacrifice, ie., $500 sneakers, lavishly expensive vacations, etc., which means we have a buck, we eat! Obama turns to deficit panel (WP) The president plans this week to call for “balance” and shared sacrifice in tackling the rocketing national debt. { Obama vs. Trump: A Circus Sideshow on the Road to Feudalism [ Even if you don't buy the 'feudalism' characterization of pervasively corrupt, meaningfully lawless, defacto bankrupt america, there is no question but that america is in an intractable and regressive state of decline. Nimmo |
Roche 'The worst part of it ...Obama, who vowed change, has done almost nothing to fix any of it and in fact continues most of the policies that helped get us here in the first place’ ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with oscar in hand that not one high level wall street exec has been prosecuted … despite ‘earning’ billiions from the fraud ), the commentator / experts recommend getting rid of the corrupt eric holder ( what do holder and wobama have in common … wall street money? … a proclivity for jive-talking / b*** s*** ?...all/some of the above … or is it something else ... a hint - UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
Obama’s Dismal Approval Numbers
Drudgereport: OBAMA MAN: TRUMP HAS 'ZERO CHANCE' [ Hard to believe, or maybe because this particular factual reality is so easy to believe because it's so obviously true, but wobama finally got something right, not that it changes anything for him! http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Despite Vote, We're Keeping FCC Internet Rules! [ Pelosi finally gets something right! ] [ wobama, pelosi finally uncharacteristically correct, albeit once each in their lifetime ... ]
RASMUSSEN: President hits new low 'strongly approve' – 19%... } ]
IMF chief says work remains on economy How well do you know the world’s currencies? (Washington Post) [ Duh! Ya think? Another crisis? How 'bout the other crisis that never ended … got 'obfuscated' with those over-active printing presses and worthless currencies ala the 'no-recession fed'. Soros: Dollar ‘no longer’ reserve currency Aaron Dykes | Soros says the Dollar has fallen, the U.S. ‘Could Absorb More Debt’ and that China is the ‘big winner’ of the financial crisis. Un-reserve Dollar? US thinkers up for world order reshape RT | “Bretton Woods II” convenes to debate the future of the global economy. The Return of the Carry Trade? [ Wikipedia http://en.wikipedia.org 'What Does Currency Carry Trade Mean? A strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate. A trader using this strategy attempts to capture the difference between the rates, which can often be substantial, depending on the amount of leverage used. - The carry of an asset is the return obtained from holding it (if positive), or the cost of holding it (if negative) (see also Cost of carry).For instance, commodities are usually negative carry assets, as they incur storage costs or may suffer from depreciation, but in some circumstances, appropriately hedged commodities can be positive carry assets if the forward/futures market is willing to pay sufficient premium for future delivery. This can also refer to a trade with more than one leg, where you earn the spread between borrowing a low carry asset and lending a high carry one; such as gold during financial crisis, due to its safe haven quality. Carry trades are not arbitrages: pure arbitrages make money no matter what; carry trades make money only if nothing changes against the carry's favor.
IMF Will Work on Portugal Bailout Plan With European Union Bloomberg | Portugal has requested IMF assistance, according to Dominique Strauss-Kahn.
A Militarized Economy Cannot Balance the Budget John Perkins | We can’t afford our bloated military budget and still have democracy.
US to delay China currency report AFP
Peter Schiff: Government Counterfeiting and Economic Terrorism
A Crack in the Great Wall-mart: Watch Out for Rising Prices from China
Oil prices hit highest level since 2008
Debt Jumped $54.1 Billion in 8 Days Preceding Obama-Boehner Deal to Cut $38.5 Billion for Rest of Year
Economists Shocked, Shocked: We Really Are Losing Jobs to China! Fletcher
Soros and friends reorder global finance at new Bretton Woods
IMF Will Work on Portugal Bailout Plan With European Union Bloomberg ] As economic recovery continues, Dominique Strauss-Kahn says more aggressive oversight is still needed to lower the risk of another crisis.
Markets fall on earnings caution, energy selloff (Reuters) - Reuters - Stocks mostly fell on Monday as energy shares sold off on lower oil prices and the onset of earnings season was clouded by concern company outlooks may fall short of expectations.
China Goes American, Registers First Trade Deficit Since '04 Rapoza 'The Chinese economy registered a trade deficit in the first quarter of 2011, it’s first negative trade balance since 2004. A growing middle class and a stronger local currency has more Chinese businesses buying abroad. Higher priced commodities — especially soy from the Americas and iron ore from Brazil — didn’t help the trade figures either.
The General Administration of Accounting (GAC) said in their report this weekend that, a “strong and rapidly growing domestic economy, plus international markets and the sharp rise in commodity prices and the Spring Festival holiday this year all led to a cumulative deficit of $1.02 billion in the first quarter.” According to the GAC, China imports in the first three months of the year reached $400.66 billion, up 32.6%, while exports totaled $399.64 billion, an increase of 29.5%.
China’s economy is in fifth gear, with the Asian Development Bank in Manila forecasting growth of at least 8.2% in 2011, higher than the official growth estimate of 7%.
Last year, China trade registered the kind of surplus the US only dreams about, a modest $13.9 billion, according to the GAC. By comparison, the U.S. trade deficit in January was around $46 billion.
For March, China’s total trade value rose 31.4% to $304.3 billion compared with March 2010. Export values for the month totaled $152.2 billion, while import values were $152.06 billion. March’s monthly import data was yet another record, beating January 2011’s historical import record of $144.3 billion, the GAC said.
In bilateral trade, China and the European Union trade rose 22% to $123.7 billion. China-US trade totaled around $97 billion, up 25%. In third place, Chinese-Japanese trade hit $80.78 billion in the first, up 27.1%.
Multinationals accounted for nearly half of China’s import and export value in the first quarter with a total of $415.4 out of around $800.3 billion in trade. The multinationals saw an increase of 24.9% in trade out of China so far this year. Of the total, the MNCs exported $217.5 from China, 24.6% more than the first quarter of 2010, and imported $197.8 billion worth of goods and services, an increase of 25.2%, according to the GAC.
China’s state owned enterprises, or SEOs, exported $172.95 billion in the first quarter, an increase of 27.8%. Of the total, exports were around $57.58 billion, up 16.4%, and imports were $115.38 billion, up 34.5%.
What Was Exported
China’s leading exports were electromechanical products, accounting for $232.03 billion, up 22.8% from the same period in 2010 and accounting forr 58.1% of first quarter exports. Exports of electrical and electronic products was $6.9 billion, an increase of 27.8%. Machinery and equipment exports rose 15.5% to $74.6 billion. Traditional Chinese exports like apparel exports rose 18.4% to $28.5 billion; textiles jumped 32.7% to $20.2 billion; footwear up 22% to $8.8 billion and furniture sales rose 19.3% to $8.4 billion.
What Was Imported
China imported 180 million tons of iron ore in the first quarter, an increase of 14.4%. Average iron ore prices were $156.5 per ton, up 59.5%; soybean imports declined marginally by 0.7% to 10.96 million tons, but the cost of importing soy from the US and South America rose by an average of 25.7% to $573.90 per ton. In addition, imports of machinery and electronic products rose 25.6% to $172.92 billion.
Guangdong continues to lead China as the nation’s trade hub, accounting for $201.2 billion in foreign trade (export + import value). Jiangsu, Shanghai and Beijing came in third with $121 billion, $98 billion and $91 billion in trade values, respectively.
Martin Schulz, Managing Director of International Equity at PNC Capital Advisors was in China last month and said one of the things that surprised him most was that Chinese clothing manufacturing was starting to move to countries like Vietnam. “Chinese clothes are starting to be made in southeast Asia because the wage rates are growing so fast that a lot of manufacturers are simply moving into the rural areas in the interior of China, or across borders,” he says.
China’s growing domestic demand could make the country an inflationary force in the global economy, Shulz said. “The growth there has been a deflationary force in the world for some time, but now it is going to be an inflationary one.”
Want to make money trading with China? Honestly, become a soy farmer or work in agribusiness, at Boeing, or in the organic chemicals space. Because pretty much everything we sell to China, they sell to us. And apparently at cheaper prices. Whether its electrical machinery, power generation equipment, medical devices, or iron and steel, the US registered a trade deficit on them all with the big C.
US-China Trade Statistics
2009 Top US Exports to China
1. Electrical machinery & equipment: $9.5 billion
2. Oil seeds & other oleaginous fruits: $9.3 billion
3. Power generation equipment: $8.4 billion
4. Air and spacecraft: $5.3 billion
5. Plastics: $4.4 billion
6. Optics and medical devices: $4 billion
7. Iron and steel: $3.5 billion
8. Pulp and cardboard: $2.5 billion
9. Organic chemicals: $2.4 billion
10. Vehicles, excl. railway: $1.9 billion
2009 Top US Imports From China
1. Electrical machinery and equipment: $72.9 billion
2. Power generation equipment: $62.4 billion
3. Apparel: $24.3 billion
4. Toys: $23.2 billion
5. Furniture: $16 billion
6. Iron and steel: $8 billion
7. Footwear: $13.3 billion
8. Plastics: $8 billion
9. Leather and travel bags: $6 billion
10: Optics and medical devices: $5.6 billion
Source: US International Trade Commission. '
The Return of the Carry Trade? [ Wikipedia http://en.wikipedia.org 'What Does Currency Carry Trade Mean? A strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate. A trader using this strategy attempts to capture the difference between the rates, which can often be substantial, depending on the amount of leverage used. - The carry of an asset is the return obtained from holding it (if positive), or the cost of holding it (if negative) (see also Cost of carry).For instance, commodities are usually negative carry assets, as they incur storage costs or may suffer from depreciation, but in some circumstances, appropriately hedged commodities can be positive carry assets if the forward/futures market is willing to pay sufficient premium for future delivery. This can also refer to a trade with more than one leg, where you earn the spread between borrowing a low carry asset and lending a high carry one; such as gold during financial crisis, due to its safe haven quality. Carry trades are not arbitrages: pure arbitrages make money no matter what; carry trades make money only if nothing changes against the carry's favor. ]
ETF News Update: Theater of the Absurd Nyaradi 'This week’s soap opera in Washington, D.C. was truly the “theater of the absurd” as Congress and the President wrangled over an “historic” $39 billion budget cut that pales sadly in comparison to the $189 billion deficit that the Federal Government ran up in March alone.We’ll discuss this in greater detail in a moment, but for today, we are content with our positions in gold, oil and inverse exchange traded funds and we remain in the defensive mode, anticipating stronger headwinds ahead.
On My Radar
http://static.seekingalpha.com/uploads/2011/4/11/saupload_spxpf040911.png
Chart courtesy of StockCharts.com, click to enlarge.
In the chart above we can see that the S&P500 remains in a bearish signal mode with a price objective of 1160. Strong overhead resistance is at 1330 which held this week and support lies at the 1250 level.We have been in this range for the last 25 trading days but, as always, this sideways action will be broken one way or the other. Based on current fundamental and technical elements, we expect this break to be on the downwards side of the range.
The View From 35,000 Feet
The big news this week was the 11th hour “resolution” of the bill to keep the government open which resulted in an “historic” cut of $39 Billion. As mentioned at the outset, this is truly the theater of the absurd because the deficit in March alone was $189 Billion, and so far for this fiscal year, we have racked up a budget deficit of $830 Billion according to the Congressional Budget Office, up $113 Billion compared to the same period last year. Of course what went largely unsaid is that this fiscal year is already half way over and the discussion of the 2012 budget is about to get underway along with the horse trading that is about to ensue over raising the Federal debt ceiling of $14.3 Trillion that is set to be exceeded in mid May. So it should be good entertainment as the second and third installments of the “theater of the absurd” get underway...
In geopolitical news, Palestinians and Israelis continued their hostilities in the Gaza Strip, protesters in Syria and Egypt persisted with their demonstrations, and the war in Libya has reached what everyone is now recognizing to be a stalemate with a fire doing unknown damage to that country’s Sarir oil field.
All of this unrest resulted in West Texas Intermediate Crude Oil hitting a 2 1/2 year high of $113/bbl and Brent Crude hitting $126/bbl, its highest level since July, 2008.
In Europe, the ECB raised interest rates, an action that is sure to put more pressure on the already struggling peripheral nations and Portugal is being squeezed for more cuts as they are now a ward of the European Central Bank. Greece is in recession and everyone wonders if Spain, often thought of as too big to save and too big to fail, is next on the chopping block.
U.S. Treasuries and the U.S. Dollar continued their slide while gold set a new nominal record of $1476/oz and silver hit a 30 year high of $40/0z.
Finally another earthquake hit Japan on Thursday and the Japanese government said that Japan’s economy was in “severe condition.”
What It All Means
We continue to live in historic times fraught with challenges, danger and uncertainty. Rising oil prices are never good for Western economies and the looming fight over raising the debt ceiling and the 2012 budget proposal put forth by U.S. Representative Paul Ryan will set the economic tone for the rest of this year and next. Dr. Bernanke and his colleagues at the Federal Reserve say that inflation is “transitory,” however, the precious metals and oil markets seem to be literally screaming otherwise.
The Week Ahead
1. Major Issues/Themes: This week brings significant economic reports and the kickoff on Monday of earnings season with Alcoa (AA) reporting after the bell.
Important reports to watch are Alcoa on Monday, JP Morgan (JPM) and March Retail Sales on Wednesday, Google (GOOG) earnings on Thursday and manufacturing and industrial production reports on Friday.
· Monday: Alcoa Earnings Report
· Wednesday: JP Morgan earnings, MBA Mortgage Index, March Retail Sales, February Business Inventories, April Fed Beige Book
· Thursday: Initial Unemployment Claims, Continuing Claims, March Consumer Price Index, Fairchild Semiconductor and Google earnings reports
· Friday: March Consumer Price Index, April Empire Manufacturing, March Industrial Production, April Michigan Consumer Sentiment
Sector Spotlight
1. Leaders: (NYSEArca: SLV) iShares Silver (NYSEArca: EPOL) iShares Poland
2. Laggards: (NYSEArca: EWJ) iShares Japan Index (NYSEArca: IYT) iShares Transportation
This week I was in Germany where it was unseasonably warm in Frankfurt with lovely spring days and warm evenings by the Main River. The restaurants and bars were full as soccer played on the televisions and I couldn’t help but wonder how much longer the Germans will be willing to carry their weaker neighbors in the European Community...'
IMF Will Work on Portugal Bailout Plan With European Union Bloomberg | Portugal has requested IMF assistance, according to Dominique Strauss-Kahn.
A Militarized Economy Cannot Balance the Budget John Perkins | We can’t afford our bloated military budget and still have democracy.
US to delay China currency report AFP | The US Treasury said it would delay a report labeling China a currency manipulator until at least May.
Peter Schiff: Government Counterfeiting and Economic Terrorism Financial guru and Austrian economics sage Peter Schiff discusses how the federal government has no place labeling private citizens who make gold and silver coins economic terrorists.
IMF Will Work on Portugal Bailout Plan With European Union The International Monetary Fund has received a financial aid assistance request from Portugal and will work on a bailout plan with European Union authorities, Managing Director Dominique Strauss-Kahn said.
A Crack in the Great Wall-mart: Watch Out for Rising Prices from China While America’s labor force struggles to regain employment and reclaim real wages, the prices of necessary products are preparing to surge, creating the uncomfortable prospect of stagflation, that dour economic phenomenon of rising prices and falling wages last seriously confronted three decades ago.
Oil prices hit highest level since 2008 World oil prices jumped on Friday to their highest levels in more than two years as the market was driven by simmering political tensions in the Arab world and concerns over elections in Nigeria.
Debt Jumped $54.1 Billion in 8 Days Preceding Obama-Boehner Deal to Cut $38.5 Billion for Rest of Year The federal debt increased $54.1 billion in the eight days preceding the deal made by President Barack Obama, Senate Majority Leader Harry Reid (D.-Nev.) and House Speaker John Boehner (R.-Ohio) to cut $38.5 billion in federal spending for the remainder of fiscal year 2011, which runs through September.
Economists Shocked, Shocked: We Really Are Losing Jobs to China! Ian Fletcher | There’s a nice new academic paper with hard data to back up everyone’s suspicion that the U.S. is losing jobs to China.
Soros and friends reorder global finance at new Bretton Woods Washington Examiner | It’s no accident they’re meeting on the very same site as Bretton Woods– formally UN Monetary and Financial Conference.
IMF Will Work on Portugal Bailout Plan With European Union Bloomberg | Portugal has requested IMF assistance, according to Dominique Strauss-Kahn.
Ex-PBOC Official Wakes Up From The Acid Trip: “U.S. Treasury Market Is A Giant Ponzi Scheme” After years of being the primary supplier of funding to the US credit-money shell game, one more ex-PBoC member wakes up from the “great normalization” acid trip, and in a Caixin editorial says what virtually everyone now understands all too well: the Treasury market is one “giant Ponzi scheme.”
Gold hits record on euro, silver jumps to 31-year top Gold jumped to a record high for a fifth straight trading day on Monday as the prospect of more declines in the U.S. dollar drove investors into the precious metal, with record exchange traded fund holdings helping silver to its highest in more than three decades.
Pentagon Budget Cuts are Possible Americans can begin to hope that the current recession, coupled with the politics of debt reduction in Washington, may yet result in cuts in that runaway Pentagon budget, The Nation magazine says in its April 11th issue.
Britain sues Iceland for £3.5billion for refusing to pay back bailout cash Iceland is to be sued by Britain and the Netherlands to recover £3.5billion lost when its banking system collapsed.
Goldman Sachs: “The Margins Are Not What They Seem” And for today’s exercise in surreality, in your best Agent Cooper voice repeat after us: “The margins are not what they seem.”Durden Zero Hedge April 10, 2011 'Here is how Goldman resolutely refuses to change its margin forecast for 2011-2012 despite crude now 30% higher than where it was when this chart was first conceived. To be honest, we haven’t flipped to the risk factors but we assume the first one would read: “Goldman may and will, in addition to trading against its clients, make the assumption that said clients are all bloody idiots.”And in some news actually based on a Euclidean reality, here is something that is oddly enough factual: the Earnings Calendar as earnings month is now upon us.
[chart http://www.zerohedge.com/sites/default/files/images/user5/imageroot/bernanke/margins.jpg ]
[chart http://www.prisonplanet.com/goldman-sachs-the-margins-are-not-what-they-seem.html ] …'
Iceland rejects hostile takeover attempt in national referendum John Stratton | Iceland is the only country where the people have been allowed to have a say in the matter.
Five Things You Didn't Know About Ben Bernanke Breslin 'You know Ben Bernanke as Chairman of the Federal Reserve, but how much do you really know about the guy? The "most powerful nerd on the planet” became a household name during the Great Recession, and yet the real man behind that bearded, calm exterior remains something of a mystery.
Born in Augusta, Georgia, and raised in Dillon, South Carolina, Bernanke was the son of a pharmacy owner and a schoolteacher. He went on to become an economics professor and chaired the Department of Economics at Princeton. In 2002, he landed at the Federal Reserve as a governor, and in 2006, President Bush appointed him chairman. He’s been criticized for failing to foresee the nation’s financial crisis and for bailing out Wall Street. What you might not know: The 57-year-old used to be a theme-park waiter.
May I Take Your Order, Please?
If you’ve ever crossed the border between North Carolina and South Carolina along Interstate 95 and seen a giant Sombrero Tower, you’ve spotted where Young Bernanke worked as a waiter. During the summers between semesters at Harvard, the Fed-in-Chief returned to his hometown and slaved at “tourist mecca” South of the Border to pay his way through college. At the Mexican-themed roadside attraction, which features an amusement park and a mascot named Pedro, Bernanke served diners at the Sombrero Restaurant and wore a poncho. In a 60 Minutes interview, Bernanke revealed that his summer jobs taught him that “work is hard.”
A Man of Many Nicknames
“Helicopter Ben” is Bernanke’s most popular nickname. He earned the title after a 2002 speech, “Deflation: Making Sure ‘It’ Doesn’t Happen Here,” in which he referenced Nobel Prize-winning economist Milton Friedman’s “helicopter drop” theory that says deflation is best combated by a direct infusion of cash to the people. For this, Bernanke was rewarded with artistic renderings of himself dropping money over the country from a helicopter. Subsequently, he was crowned “Bearnanke” by the Wall Street Journal : “By harping on his worries about inflation and tight labor markets, Bernanke has implied there will be no cut in interest rates any time soon, and bond investors […] risk losing money as they come to grips with that.” Most recently, he has been rechristened “Bernie Mac," “Banana Ben,” "the Ben Bernank," and “He Who Sees No Bubbles.”
Foreclosure Crisis Hits Home
In 2009, Bernanke’s ranch-style childhood home in economically hard-hit Dillon was sold at a foreclosure sale to Travis Jackson, a 27-year-old loan officer. Bernanke declined to comment on the record specifically about his foreclosed-upon boyhood residence (the Bernanke family had sold the property over a decade prior), but he stated, “We believe that getting the credit markets going, getting banks lending again, increasing the demand for all products—including those made in Dillon—are part of economic recovery. […] That's what the Fed's trying to do."
Richard Schafer, who owns South of the Border, says post-recession revenue at the park is down 10% and he wishes he’d kept a photo of Bernanke as a serape-wearing server: “I'd probably get some economic-bailout money if I did.”
A Private Faith
Bernanke, almost didn’t go to Harvard because his family was concerned that he would “lose his Jewish identity.” At the time, Harvard grad student and former fellow Dillon resident Kenneth Manning, who is African-American and now an M.I.T. professor, reassured the Bernanke family “there were Jews in Boston.” When it comes to religion, says a friend, Bernanke “keeps his feelings and beliefs private … but it’s really embedded in who he is.” Bernanke learned Hebrew from his maternal grandfather, Harold Friedman, a professional hazzan and Hebrew teacher.
Upon his arrival in Washington, Bernanke’s leadership experience as chair of the economics department at Princeton was so limited that “he liked to joke that his major decisions involved what type of bagels to order for faculty meetings.”
Nice Beard
“Has Ben Bernanke's beard gotten significantly whiter since he started as Fed Chairman or is it just me?” tweeted @The Analyst of Bailout Ben. In terms of facial hair, Bernanke’s now-snowy iconic beard is the yang to Giants’ pitcher Brian Wilson’s yin. In fact, Mr. Chairman’s beard even has its own Facebook page. “I hate everything Ben Bernanke stands for,” the Info page reads, “but his beard is an epic win.”...'
National / World
Soros: Dollar ‘no longer’ reserve currency Aaron Dykes | Soros says the Dollar has fallen, the U.S. ‘Could Absorb More Debt’ and that China is the ‘big winner’ of the financial crisis.
Un-reserve Dollar? US thinkers up for world order reshape RT | “Bretton Woods II” convenes to debate the future of the global economy.
Radiation Detected In Drinking Water In 13 More US Cities, Cesium-137 In Vermont Milk Jeff McMahon | Radiation from Japan has been detected in drinking water in 13 more American cities.
Iceland Rejects Bankster Shakedown Kurt Nimmo | Icelanders serve as inspiration for other people attempting to get out from under the criminal banksters.
Another Earthquake, Tsunami Hit Japan ABC News | A 6.6-magnitude aftershock rattled Japan today on the one-month anniversary of the twin disasters.
Industry’s war on nature: ‘What are the bees telling us?’ Rady Ananda | A sure way to collapse an ecosystem is to decimate a keystone species.
No end in sight for Fukushima disaster as bureaucrats battle the laws of physics Mike Adams | Readings coming out of Fukushima are admittedly “immeasurable.”
Fukushima Gov. Slams TEPCO, Govt for ‘Betrayal’ Yomiuri Shimbun | “We feel we were betrayed [by the central government and TEPCO,” Sato said during an interview.
Exposing the International Arbiters Tony Cartalucci | The corporate funded exploitation of freedom, democracy, and human rights.
Regime Change Libya: Privatization of their Central Bank and the Theft of their Nationalized Oil Profits Scott Creighton | Obama’s intervention was not designed to protect the people but to ensure that they too are enslaved just as we are enslaved.
Last-minute budget deal narrowly avoids the Big Government shutdown Mike Adams | Drop in the bucket cuts won’t aid America’s desperate need to balance its budget.
Debt Jumped $54.1 Billion in 8 Days Preceding Obama-Boehner Deal to Cut $38.5 Billion for Rest of Year Terence P. Jeffrey | The debt was $14.2101 trillion as of March 30.
Globalists Coming Full Circle Tony Cartalucci | Long before the verified lies of Qaddafi’s “door-to-door” genocide, Libya was already marked for destabilization and regime change.
From Ivory Coast to Libya And Beyond: The Conquest of Africa Rick Rozoff | Two of only five African nations not partnered with the Pentagon through AFRICOM are the targets of violent uprisings aimed at toppling their governments.
Leahy: Obama Needs Congressional Approval to Put Troops in Libya
CNS News | Senate Judiciary Chairman Patrick Leahy said President Obama needs congressional approval to send U.S. troops into Libya.
Permanent Occupation: Gates Admits US Troops To Remain In Iraq Beyond 2011 The world’s media reacted with a collective shrug of the shoulders today as Defense Secretary Robert Gates admitted that US troops are likely to stay in Iraq beyond 2011, making another scheduled withdrawal date nothing more than an empty meaningless promise.
$5 Gas by Memorial Day CBS | At one time, $5 per gallon gas seemed like a farfetched idea.
Obama vs. Trump: A Circus Sideshow on the Road to Feudalism [ Even if you don't buy the 'feudalism' characterization of pervasively corrupt, meaningfully lawless, defacto bankrupt america, there is no question but that america is in an intractable and regressive state of decline. ] Kurt Nimmo | Obama’s wranglers know the American spectator does not elect presidents.
Obama’s Dismal Approval Numbers Rasmussen Reports | There has been a sharp decline in enthusiasm among liberal voters.
Drudgereport: $5 GAS BY MEMORIAL DAY
Thermal Cameras On Boston Streets Can Show Activity Inside Homes...
Pump prices less than 10% below record high...
San Fran highest at $4.13...
OBAMA MAN: TRUMP HAS 'ZERO CHANCE' [ Hard to believe, or maybe because this particular factual reality is so easy to believe because it's so obviously true, but wobama finally got something right, not that it changes anything for him! ]
Despite Vote, We're Keeping FCC Internet Rules! [ Pelosi finally gets something right! ] [ wobama, pelosi finally uncharacteristically correct, albeit once each in their lifetime ... must be the japanese radiation ... ]
9th Body Found In NY Serial Killer Probe, Possibly A 10th...
Obama regrets HIS vote against raising debt limit...
RASMUSSEN: President hits new low 'strongly approve' – 19%...
UPDATE: Egyptians turn anger on army in Cairo protest...
New Clashes in Tahrir Square...
Gaza-Israel violence rages...
'West wants war'...
'Mideast Without Israel and America Now Possible'...
Despite Vote, We're Keeping FCC Internet Rules! [ Pelosi finally gets something right! ]
US Debt Jumped $54 Billion in Week Preceding Deal to Cut $38 Billion...
11TH HOUR: LET'S MAKE A DEAL
Obama: 'Americans of different beliefs came together'...
Takes credit for 'biggest annual spending cut in history'...
'LIVE WITHIN OUR MEANS'...
FLASHBACK: Deficit Forecast Nears $1.5 Trillion...
SURPRISE: Government shutdown averted...
Spending cuts total nearly $40 billion...
$78 billion below Obama request...
Deal bans DC from spending funds for abortion, continues school voucher program...
BOEHNER: 'As good a deal as we could get'...
REPORT: Oprah won't endorse Obama for re-election...
Poll: Obama Struggling With Whites...
Even black voters slip...
OIL JUMPS 2% -- IN A DAY...
Fever for Gold, Silver Grips Investors...
Biden daughter trashes Trump...
Bill Cosby slams: 'He's full of it!'...
Trump Takes On NYT, Gail Collins...
Admires her for surviving 'so long with so little talent'...
NBCWSJ POLL SHOCK: TRUMP #2 GOP [ NBC where t_rump has his Jerry Springer derivative shock-jock show and sinkhole new york's fraud street journal … poll? … Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider firing Donald Trump Daily Caller ... Milbank: Donald trumps CPAC | Gibbs gone (Washington Post) [ Trump’s a loser, dressed up and propped up by and to shill for a declining, fallen nation in the most corrupt regions (ie., new york, jersey, etc.) of the country (every fallen nation has such); of that there is no question …"Over the years I've participated in many battles and have really almost come out very, very victorious every single time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s never won a battle that wasn’t fixed in advance (including the ‘pre-packaged bankrupcies’ crammed down the throats of objecting creditors – jersey general ] He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people and companies, and I've won many wars," he added. (Though he didn't serve in the military.) "I have fairly [according to mobster rules; ie., bribery, money laundering, etc.] but intelligently [ as any other mob boss … trump is total b*** s***, a fraud, and lightweight … and, despite the façade, quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of american decline and part of the problem, not the solution! …trump also said america’s become the laughingstock of the world … true enough … and trump the biggest joke … NEWS FLASH: Direct from Lost Angeles Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now caleefornia mob fame with his continuing message for the past several years: buy real estate (and watch the values go down…..riiiiight!).
Bank sues Trump over Chicago tower loan...
Trump casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With Employee Killed – What else would you you expect from a mobster’s casino in mob-infested jersey!
Trump luxury resort folds, leaving buyers defrauded…litigation has commenced…send for sister maryanne, the corrupt federal judge to preside, coverup, etc., she’s in n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud and handles her own motions to recuse her and like mobster trump should be in jail ... (see RICO Case)] earned many billions of dollars [ at whose expense ], which in a sense was both a scorecard and acknowledgment of my abilities [ to fool most of the people, all of the time. ] ." TRUMP DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING PRESIDENTIAL RUN... [Don’t make me laugh! … Donald T_rump Would Impose 25% Tax on China Imports if President [ trump also said america’s become the laughingstock of the world … true enough … and trump the biggest joke … Indeed, that trump even posits the possibility of a run when he should be in jail is a testament to just how big a laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and scoundrel trump wraps himself in populist american flag and offers up an (too little too late – typical lightweight) implausible solution to keep ‘the juice’ flowing though he’d already be in jail in a rational, non-declining nation with meaningful laws. All China has to do is dump (and not prospectively buy) their ever more and declining in value day-by-day (from dollar debasement policies) u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down to it, this has been america’s most significant export. Indeed, this irrevocable structural shift, hailed by cia men hw bush and clinton (clinton couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no uncertain terms condemned and warned against by Perot, a man of honor who, unlike his opponents, could not be bought, which is the reason, in pervasively corrupt america, he could never have been elected. Interestingly, you may have noticed the good (but not great, other than the spotlight on pervasive bribery including judges, police, politicians, etc., being far too light) the film ‘The Untouchables’ getting a wide re-airing of late, purporting to be a significant part of american folklore / history / culture. However, the reality is that in america, and certainly today, the real story with impact is that of ‘The Touchables’. The reality is that Elliot Ness died a broken man; bankrupt, unable to even win election to the mayoralty of his then current hometown. He was incorruptible; and hence, in the real america, unelectable at the least if not also all but unemployable (he and his are among those few genetic anomalies in america as I’ve previously alluded to. How far america has fallen from even false perception! Pervasively corrupt, meaningfully lawless america can’t even fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense … The pervasively corrupt american illegal system … corrupt u.s. courts / (lawyers) / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation. ] “I would announce, without equivocation, a 25% tax increase on anything purchased from China.” ]
CHENEY HECKLED... 'DRAFTDOGER!' 'WHERE'S BIN LADEN?' ]
Deal will cut $37.8 billion from federal budget (Washington Post) [ US Lawmakers Reach Budget Agreement Voice of America/ Drudgereport: 11TH HOUR: LET'S MAKE A DEAL [ Hopes of the people dashed with last-minute budget deal avoiding shutdown – This may seem 20/20 hindsightish but I always thought the probabilities were against a shut-down, if only because of the additional 'paperwork' that would be engendered thereby, and the relatively small, insignificant budgetary amounts involved in separating the two parties. Some are totally skeptical and correctly so: Hoyer: “No Budget Deal Yet But 70% Agreement” Means Soap Opera Almost Over Zero Hedge Government Shutdown “Equivalent of Bombing Innocent Civilians” Kurt Nimmo | Democrats have worked themselves into a lather over the absurd circus sideshow billed as a government shutdown. Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ . Previous: White House talks fail to produce budget deal (WP) [ Hope is still alive say the people who hope they're prayers for a government shutdown are answered ... after all, they can't muck up what they're not in session to f*** up ... then, they're plenty to spare … More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). Defacto bankrupt america the new marxian dream … eh, comrade ? Talks to avert shutdown make no headway (WP) The people are sayin' there's still hope as no way as in no headway is the right way. After all, the Dems are playin' political pretend here given the magnitude of defacto bankrupt america's insurmountable debt {GOP’s plan for 2012 budget comes in at $6.2 trillion less than Obama’s (WP) ] To keep the government running through Friday, lawmakers approve a short-term spending measure and say the final agreement will be approved next week. If that happens, the measure will cut $37.8 billion from the federal budget through the end of September.
Sinking together in hostile embrace (Washington Post) [ This, of course, is the correct headline for what has now literally become a 'Titanic' (you may recall the oft heard quips analogizing the washington process to rearranging the deck chairs on the Titanic; and the scenario has only gotten much worse, not better, in that intervening time) of a nation. 'Washington is still broken' … duh! … ya think? And, that the ultimate understatement. Smart people are hearing none of that self-serving rhetoric, propaganda in noting the insurmountability of this debt debacle. 'Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ . Moreover, the amounts here don't even cover interest on the debt, and soon borrowing to pay just the interest will take on a life and end of its own. It might very well be that they've actually thrown in the towel on what their approach has made and now is recognized as unsolvable by them if they are to maintain their own stipends. How tragic and pathetic at once! ] THE TAKE | This should have been the easy battle. Instead, it turned from confrontation to stalemate.
SEC to study private trading rules (Washington Post) [ Now tell me … how does the SEC shirk their responsibility, mission, purpose when dealing with a security and fraud together? What is a security? … hornbook law and the first thing you learn in Securities Law. That they along with the DOJ shirked their responsibilities, mission, and purpose in the last and continuing financial crisis / debacle in favor of the biggest, too big to fail perpetrators, there is no question. There are loads of worthless paper qualifying as securities being churned and foisted off every day which this one, big cottage (cheesey) industry (including enforcement) tends to indulge rather than prosecute, fine, jail and seek digorgement from (they would really help the budget scenario by doing the opposite; as per their responsibilities, mission, and purpose). Overvalued paper at best, fraudulent securities at worst: Selling In May Is Very Good Advice This Year Harding [ { April Is a Good Time to Sell ( I quite agree … overvalued to the hilt in this new manipulated bubble … at the least a 'sell in May and go away', but 'don't be mentally ill, sell in April!' ) Adler , see infra, immediately after Harding } 'It’s that time of year again when I always remind you of the market’s seasonality, its proven tendency to make most of its gains between November and May, and experience most of its losses in the opposite period.
I get a kick out of people who dismiss it as an interesting theory that doesn’t always work. It’s not theory. It’s proven fact. In spite of the few years when it has not worked, investing over the long-term based on the market’s seasonality significantly outperforms the market, and with much less risk.
Don’t take my word for it. Academic studies provide clear evidence...' ] As investors seek shares in shadow markets, agency seeks reduced regulatory burden on small business.
Shutdown theatrics (Washington Post) [ Well, here I am again, somewhat implausibly (we're so … opposite) agreeing with at least the tenor of Mr. Milbank's article; and at the least, the trillions part. More show than substance … sure … but that's just unfortunately the devolution of american politics in the most negative sense, regardless of party. Politics of decline? … Absolutely. New? … Not at all … the history books are replete with the carcasses of such failed nations as pervasively corrupt, defacto bankrupt america. [ US Lawmakers Reach Budget Agreement Voice of America/ Drudgereport: 11TH HOUR: LET'S MAKE A DEAL [ Hopes of the people dashed with last-minute budget deal avoiding shutdown – This may seem 20/20 hindsightish but I always thought the probabilities were against a shut-down, if only because of the additional 'paperwork' that would be engendered thereby, and the relatively small, insignificant budgetary amounts involved in separating the two parties. Some are totally skeptical and correctly so: Hoyer: “No Budget Deal Yet But 70% Agreement” Means Soap Opera Almost Over Zero Hedge Government Shutdown “Equivalent of Bombing Innocent Civilians” Kurt Nimmo | Democrats have worked themselves into a lather over the absurd circus sideshow billed as a government shutdown. Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ . Previous: White House talks fail to produce budget deal (WP) [ Hope is still alive say the people who hope they're prayers for a government shutdown are answered ... after all, they can't muck up what they're not in session to f*** up ... then, they're plenty to spare … More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). Defacto bankrupt america the new marxian dream … eh, comrade ? ] It was an absurd dispute over crumbs.
NATO regrets deadly strike on Libya rebels (Washington Post) [ Regrets? Not really. After all, just yesterday they were talking 'no apologies!' 'Nuff said … or, in new american lingo, 'snuff's said'. Yet, all this as the NATO members sink deeper and deeper into debt, if not as america, defacto bankruptcy. Regrets, they've had a few … Now how does that song go … what is it 'Their Way' …
And now, the end is here
And so they face the final curtain
Their friend, they'll say it clear
they'll state their case, of which they're certain
they've lived a life that's full
they traveled each and ev'ry highway
And more, much more than this, they did it their way
Regrets, they've had a few
But then again, too few to mention
they did what they had to do and saw it through without exemption
they planned each uncharted course, each reckless step along the byway
And more, much more than this, they did it their way …
Well, you know the real song … sung distinctively by the great singers, Elvis Presley, Frank Sinatra … But people should be reminded, they're both dead …
Congress Delivered Articles of Impeachment for tyrant Obama Bruce Fein | A prominent libertarian constitutional lawyer and civil libertarian has drafted an article of impeachment against President Obama. Article II, Section IV of the United States Constitution provides: “The President, Vice President and all civil Officers of the United States, shall be removed from Office on Impeachment for, and Conviction of, Treason, Bribery, or other high Crimes and Misdemeanors.”
Libya rebels unlikely to oust Kadhafi: US general Western allies have stepped up “non-lethal” aid to Libyan rebels hours after a rebel armoured unit was hit by apparent NATO ‘friendly fire’, sources said.
Obama Successfully Demobilized the Anti-war Movement
Why Is NATO Really In Libya?
A test of Obama’s leadership style (Washington Post) [ Leadership style? Are you kiddin'? What leadership? 'Wobama's been a failed president since his first broken campaign promise; and there've been plenty more since then. The man's a total fraud!
Obama says shutdown would be ‘inexcusable’ (WP) [ What is totally inexcusable is 'wobama the b' (for b*** s***) continuing in the office of the Presidency. He is an abject failure and a total fraud. He should be impeached and removed from office. Time for clichéd, stereotypical, 'mr. for a nickel he will' to go! GOP lawyer circulating wobama impeachment article on Hill...
Constitutional Problems with the Libyan War Ron Paul | The costs of this terrible mistake cannot be ignored. Obama Raises American Hypocrisy To A Higher Level 10 Reasons Obama is Just As Bad or Worse Than Bush AP 4-5-11 ] NATO officials grudgingly express regret for mistakenly bombing rebel forces in Libya and killing at least five people the previous day.
Selling In May Is Very Good Advice This Year Harding [ { April Is a Good Time to Sell ( I quite agree … overvalued to the hilt in this new manipulated bubble … at the least a 'sell in May and go away', but 'don't be mentally ill, sell in April!' ) Adler , see infra, immediately after Harding } 'It’s that time of year again when I always remind you of the market’s seasonality, its proven tendency to make most of its gains between November and May, and experience most of its losses in the opposite period.
I get a kick out of people who dismiss it as an interesting theory that doesn’t always work. It’s not theory. It’s proven fact. In spite of the few years when it has not worked, investing over the long-term based on the market’s seasonality significantly outperforms the market, and with much less risk.
Don’t take my word for it. Academic studies provide clear evidence.
For instance, a 27-page study published in the prestigious American Economic Review in 2002 concludes, “We found that this inherited wisdom of Sell in May to be true in 36 of 37 developed and emerging markets” It went on to say that, “A trading strategy based on this anomaly would be highly profitable in many countries. The annual risk-adjusted outperformance ranges between 1.5% and 8.9% annually depending on the country being considered. The effect is robust over time, economically significant, unlikely to be caused by data-mining, and not related to taking excess risk.”
Another study in 2008 at the New Zealand Institute of Advanced Study, which focused solely on the U.S. stock market, concluded that “All U.S. stock market sectors, and 48 out of 49 U.S. industry sectors performed better during the winter months than summer months in our sampling from 1926-2006.”
Let’s put the fact that it doesn’t work every year in context.
To begin with, no strategy, particularly buy and hold, works every year. And that is also true of seasonality. For instance, it underperformed in 2003 and 2009. In those years the market made gains in the winter months, and then, fueled by massive government stimulus programs, continued still higher during the summer months when a seasonal investor would have been invested in something other than stocks.
But the seasonal investor did not lose money by being out of the market in the unfavorable season in those years. He or she merely missed further gains. But when an investor is in the market in unfavorable seasons in which the market experiences the serious declines that most often take place in unfavorable seasons, that investor actually loses money. Those losses can be substantial, with investors giving back much, if not all of the gains made in the previous favorable season. For instance, from May 1st to its low during the summer months, the S&P 500 lost 22% of its value in 2001, 24% in 2002, 38% in 2008, and even 16% in the early summer correction in the positive year last year. Those are the experiences that created the ‘lost decade’ that buy and hold investors experienced but which seasonal investors avoided.
Why might seasonality be even more important this year than in other years?
Negatives are piled up against the economy and market to a degree not seen in a number of years. They include rising inflation; global central banks raising interest rates to ward off inflation, which is also likely to slow their economic growth; signs of the U.S. economy slowing again (sharp declines in home sales, durable goods orders, and consumer confidence); the coming end of the Federal Reserve’s QE2 stimulus efforts in June; and the austerity measures Congress will be forcing on the country in efforts to bring the record budget deficit under control.
Then there is the high level of investor bullishness usually seen near market tops. For instance, the Investors Intelligence Sentiment survey shows bullishness has jumped up to 57%, while bearishness has fallen to just 15.7%. That spread of 41.6% is considered to be in a danger zone. The last time it reached 40% was in October, 2007, as the market topped out into the 2007-2009 bear market.
So, fair warning. Seasonality is liable to be even more important this year than in most years.
The traditional seasonality maxim, ‘Sell in May and Go Away’, calls for buying November 1 and selling on May 1 of the following year. Those dates were the basis for the academic studies mentioned earlier.
But obviously a positive market move does not begin and end on the same day each year. So in my 1999 book Riding the Bear – How to Prosper in the Coming Bear Market, I introduced my Seasonal Timing Strategy. It uses a technical indicator that tracks market momentum reversals to better identify the entries and exits. Over the last 40 years, its exit signals have been as early as April 20, and as late as June 20.
The modification significantly improved the already impressive performance of the basic ‘Sell in May and Go Away’ seasonal strategy. In a recent article on MarketWatch, Mark Hulbert wrote that the Hulbert Financial Digest has only been tracking the performance since mid-2002, and since then “Harding’s modification of the Sell In May and Go Away indicator produced an 8.2% annualized return . . . with 37% less risk.” That significantly beat the performance of the S&P 500.' April Is a Good Time to Sell [ I quite agree … overvalued to the hilt in this new manipulated bubble … at the least a 'sell in May and go away', but 'don't be mentally ill, sell in April!' ] Adler 'Both banks and foreign central banks [FCB] have normal buying cycles, and last week’s evidence suggests that both are just past the peak of those cycles. In addition, because of Japan’s predicament, FCB buying is for the foreseeable future, likely to be well below the necessary levels to keep levitating stocks. Add to that, the loss of the 2 month long, $25 billion weekly stipend from the Treasury on March 24, and we have the conditions for a rough patch.
With less help from the Treasury, the banks, and FCBs, the Fed would have its hands full keeping all its balls in the air. Some would be likely to hit the ground, but not this month. That’s because of the light Treasury supply that I covered in the Treasury update. That makes the job much easier this month, even without the banks and the FCBs.This week is one of those easy weeks, with lots of Fed pumping and no new Treasury supply ...
The evidence shows that banks are again out of the Treasury buying game. It also shows that they lost money in the first quarter, which is insane considering that their cost of funds is zero. It’s an indication of just how dire the circumstances are. Banks continue to accumulate cash at a frantic rate in their accounts at the Fed. The last time reserves rose this fast was in the midst of the crisis in 2008.
...These elements essentially neutralize the Fed’s pumping. ..
In the meantime I would not wait to "sell in May and go away." April looks like a good time to scale out of all equity longs, including in particular broad based ETFs, like SPY (SPY), DIA (DIA), QQQ (QQQ), and IWM (IWM). Aggressive traders and hedgers can use strength to establish short positions probably around mid-month and after ...' ]
FLASHBACK: MM Gameplan Recap: 3/11/11 - Mad Money HomegamerMar 11, 2011... Cramer said it's recently been hit by higher oil prices. ... Cramer is interested for its comments on whether $100+ oil has ... Cramer: I'm Not a Bull at $110 Oil … Cramer's 'Mad Money' Recap: Oil Key to Game Plan (Final) – TheStreet [ Wall Street shock jock and perma bull cramer eats his words … somewhat … since being not as bullish is a far cry different from being 'not a bull' … but words are cheap, in pervasively corupt, defacto bankrupt america generally and wall street particularly. 'They' must have given him a 'talkin' to' for not being a fraud team player.]
Apr 8, 2011 ... NEW YORK (TheStreet) -- 'With the price of oil breaching the $110 a ... time oil surged this high, and they're likely to hit the brakes yet again. ... NEW YORK (TheStreet) -- With the price of oil breaching the $110 a barrel level, Jim Cramer told the viewers of his "Mad Money" TV show Friday that we've officially "entered the danger zone" where the price of oil will matter more than corporate earnings. Cramer said he simply cannot be as bullish on the markets as he once was, and advised investors to begin using strength to raise cash. "Take a lesson from 2008," Cramer told viewers as he outlined his game plan for next week's trading. He said the markets faltered the last time oil surged this high, and they're likely to hit the brakes yet again. "I'm going to become more bearish as oil continues to climb," Cramer told viewers frankly. ...'
Keep it Simple - Here's What's Really Driving Stock Prices
Toshiba proposes to scrap 4 nuke reactors at Fukushima plant [ Am I missing something here … some failed attempt at (Japanese) humor … Wow! … remind me not to buy a Toshiba computer (I’ve also just eliminated dell and apple’s just not worth it). The only explanation is that the radiation must be eating at their brains. Was this proposal ever in doubt … even necessary? I’m at a loss for words! I really am! ] TOKYO, April 8 (Xinhua) -- Toshiba Corp. submitted a proposal to Tokyo Electric Power Co. (TEPCO) and the Ministry of Economy, Trade and Industry (METI) to decommission four troubled reactors at the Fukushima Daiichi nuclear power plant, ...
Stocks End Lower Friday, Mixed for Week Midnight Trader 4:24 PM, Apr 8, 2011 --
2. NYSE down 5.39 (-0.1%) to 8,483.94
3. DJIA down 29.44 (-0.2%) to 12,380
4. S&P 500 down 5.34 (-0.4%) to 1,328
5. Nasdaq down 15.73 (-0.6%) to 2,780
GLOBAL SENTIMENT
· Hang Seng up 0.47%
· Nikkei up 1.85%
· FTSE down 0.81%
US Lawmakers Reach Budget Agreement Voice of America Drudgereport: 11TH HOUR: LET'S MAKE A DEAL [ Hopes of the people dashed with last-minute budget deal avoiding shutdown – This may seem 20/20 hindsightish but I always thought the probabilities were against a shut-down, if only because of the additional 'paperwork' that would be engendered thereby, and the relatively small, insignificant budgetary amounts involved in separating the two parties. ] Hoyer: “No Budget Deal Yet But 70% Agreement” Means Soap Opera Almost Over Zero Hedge | Supposedly 30% disagreement on a binary issue is good news. White House talks fail to produce budget deal (Washington Post) [ Hope is still alive say the people who hope they're prayers for a government shutdown are answered ... after all, they can't muck up what they're not in session to f*** up ... then, they're plenty to spare … More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). Defacto bankrupt america the new marxian dream … eh, comrade ? ... Talks to avert shutdown make no headway (WP) The people are sayin' there's still hope as no way as in no headway is the right way. After all, the Dems are playin' political pretend here given the magnitude of defacto bankrupt america's insurmountable debt {GOP’s plan for 2012 budget comes in at $6.2 trillion less than Obama’s (WP) Proposal represents GOP’s most comprehensive philosophical statement since midterm wins.(and then there's all that funny money)}. Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ . With deadline near, spending accord is elusive (WP) [ If only their spending was as elusive as accords. Oh, there's no question but that they really know how to spend your money at the further expense of children … yet, elusive in this context is a good thing as hope still remains … House GOP leaders turn to Dems for deal (WP) [ Of Dees, Dems, Does, and Gops … Sounds like a plan … Not! … The people are still hoping, praying … will their dream come true? … Government shutdown looms- (WP) [ Shutdown? ... One can only hope, and pray ... after all, they can't muck up what they're not in session to f*** up ... ] After back-to-back meetings at White House and on the Hill, Obama and congressional leaders remain billions of dollars apart as the first federal government shutdown in more than 15 years draws closer. ] President Obama and congressional leaders met again Thursday night to try to negotiate a deal on a spending bill that would avert a looming federal government shutdown. ”Differences have been narrowed,” Obama said.
Congress Delivered Articles of Impeachment for tyrant Obama Bruce Fein | A prominent libertarian constitutional lawyer and civil libertarian has drafted an article of impeachment against President Obama.
A test of Obama’s leadership style (Washington Post) [ Leadership style? Are you kiddin'? What leadership? 'Wobama's been a failed president since his first broken campaign promise; and there've been plenty more since then. The man's a total fraud!
Obama says shutdown would be ‘inexcusable’ (WP) [ What is totally inexcusable is 'wobama the b' (for b*** s***) continuing in the office of the Presidency. He is an abject failure and a total fraud. He should be impeached and removed from office. Time for clichéd, stereotypical, 'mr. for a nickel he will' to go! GOP lawyer circulating wobama impeachment article on Hill... Constitutional Problems with the Libyan War Ron Paul | The costs of this terrible mistake cannot be ignored. Obama Raises American Hypocrisy To A Higher Level 10 Reasons Obama is Just As Bad or Worse Than Bush AP 4-5-11 George W. Bush was clearly a mentally-challenged puppet of the military/banking/oil elite. The policies put it in place at breakneck speed after 9/11 were provably predetermined by think tanks well in advance... but there was a noticeable in-your-face quickening of corporate-government tyranny under Bush.
These policies like wars of aggression, illegal surveillance of Americans, torture of detainees indefinitely held without formal charges, unfair “free trade” agreements, and bank bailouts ... these policies accelerated under Obama, even more of the draconian playbook is unfolding.
After 8 years of Bush’s reign that ended with a record low presidential approval rating in the low 20s, Obama’s promise of hope and change ...Although policies being implemented under Obama’s leadership exhibit the continuation of Bush’s tyrannical agenda, his stunning betrayal of populist and Constitutional principles in support of these actions makes him the ultimate hypocrite...
There have been many articles written about Obama’s unkept promises and outright lies, but here are 10 actions that prove Obama is just as bad if not worse than Bush:
1) Bank/Corporate Bailouts...
2) Betrayal of the Poor...
3) Expansion of Free Trade: Obama excoriated NAFTA, GATT and other so-called “Free Trade” agreements that were put in place under Clinton and Bush (with CAFTA)...These free trade agreements are designed to only help the multinational corporations who wrote them, and who Obama now works for. … the government moves forward with many new similar agreements.
4) Escalating Wars of Aggression...
5)Internet Rights Eroding...
6) Finally, the DHS has been arbitrarily seizing domain names, which is clearly unconstitutional … Obama is completely in bed with Google and others in the corporate information cartel...
7) Free Speech Restrictions...
8) Illegal Domestic Surveillance...
9) Rule of Law is Dead...
10) Obamacare Fascism... ]
From Egypt to Libya and now the budget, the questions on leadership style have followed a consistent pattern.
A Crack in the Great Wall-mart: Watch Out for Rising Prices from China Jason Kaspar | If inflation is to hit home in the heartland of America, it will certainly begin at Wal-Mart.
Portugal defaults, America on the waiting list? RT | Prime Minister of Portugal asked the European Union for a bailout.
Two George Soros Events Aim to Remake Financial Order and Media Dan Gainor | His flunkies want to “Change the world. Change the media.”
The Dollar Is Getting Crushed As Oil Hits $111, Gold Hits $1470, Silver Hits $40, And Euro Hits $1.44 It’s not too surprising, since we’re seeing one of these classically “risk on” type of days that have defined this whole rally, but the dollar is getting killed against everything.
Wild And Crazy 2011: 10 History-Shattering Events That Have Shaken The Financial World To The Core 2011 has already had more history-shattering events than almost any other year since World War 2.
National / World
Lyndon LaRouche Exposes the Face of Evil Infowars | Alex Jones interviews political activist and former presidential candidate Lyndon LaRouche.
Congress Delivered Articles of Impeachment for tyrant Obama Bruce Fein | A prominent libertarian constitutional lawyer and civil libertarian has drafted an article of impeachment against President Obama. Article II, Section IV of the United States Constitution provides: “The President, Vice President and all civil Officers of the United States, shall be removed from Office on Impeachment for, and Conviction of, Treason, Bribery, or other high Crimes and Misdemeanors.”
Socialist Leader Calls for Revolution (video) Naked Emperor News | American Socialist Leader Calling For Revolution Says ‘We Are Not Pacifists, Violence Sometimes is Necessary’
Government Shutdown “Equivalent of Bombing Innocent Civilians” Kurt Nimmo | Democrats have worked themselves into a lather over the absurd circus sideshow billed as a government shutdown.
The Future Expansion of Unmanned Drones Over The U.S. Michael Edwards | The goal is 24-hour eye-in-the-sky surveillance by predator drones within civilian airspace from coast to coast.
Libya rebels unlikely to oust Kadhafi: US general Western allies have stepped up “non-lethal” aid to Libyan rebels hours after a rebel armoured unit was hit by apparent NATO ‘friendly fire’, sources said.
Obama Successfully Demobilized the Anti-war Movement It is more evidence the antiwar movement is largely a left-vs-right distraction. A new studyby U-M’s Michael Heaney and colleague Fabio Rojas of Indiana University shows that the antiwar movement in the United States demobilized as Democrats took over Congress and the White House.
Why Is NATO Really In Libya? Is NATO failing with its attempts in Libya? Former Regan Administration official Paul Craig Roberts thinks the situation with Gaddafi is much different than the other recent protests in the Arab world. “Why is NATO there?” has become to real question, says Roberts, who fears that risky involvement stemming from American influence could lead to catastrophic breaking point.
Drudgereport: 11TH HOUR: LET'S MAKE A DEAL
Obama: 'Americans of different beliefs came together'...
Takes credit for 'biggest annual spending cut in history'...
'LIVE WITHIN OUR MEANS'...
FLASHBACK: Deficit Forecast Nears $1.5 Trillion...
SURPRISE: Government shutdown averted...
Spending cuts total nearly $40 billion...
$78 billion below Obama request...
Deal bans DC from spending funds for abortion, continues school voucher program...
BOEHNER: 'As good a deal as we could get'...
REPORT: Oprah won't endorse Obama for re-election...
Poll: Obama Struggling With Whites...
Even black voters slip...
OIL JUMPS 2% -- IN A DAY...
Fever for Gold, Silver Grips Investors...
Biden daughter trashes Trump...
Bill Cosby slams: 'He's full of it!'...
Trump Takes On NYT, Gail Collins...
Admires her for surviving 'so long with so little talent'...
NBCWSJ POLL SHOCK: TRUMP #2 GOP [ NBC where t_rump has his Jerry Springer derivative shock-jock show and sinkhole new york's fraud street journal … poll? … Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider firing Donald Trump Daily Caller ... Milbank: Donald trumps CPAC | Gibbs gone (Washington Post) [ Trump’s a loser, dressed up and propped up by and to shill for a declining, fallen nation in the most corrupt regions (ie., new york, jersey, etc.) of the country (every fallen nation has such); of that there is no question …"Over the years I've participated in many battles and have really almost come out very, very victorious every single time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s never won a battle that wasn’t fixed in advance (including the ‘pre-packaged bankrupcies’ crammed down the throats of objecting creditors – jersey general ] He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people and companies, and I've won many wars," he added. (Though he didn't serve in the military.) "I have fairly [according to mobster rules; ie., bribery, money laundering, etc.] but intelligently [ as any other mob boss … trump is total b*** s***, a fraud, and lightweight … and, despite the façade, quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of american decline and part of the problem, not the solution! …trump also said america’s become the laughingstock of the world … true enough … and trump the biggest joke … NEWS FLASH: Direct from Lost Angeles Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now caleefornia mob fame with his continuing message for the past several years: buy real estate (and watch the values go down…..riiiiight!).
Bank sues Trump over Chicago tower loan...
Trump casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With Employee Killed – What else would you you expect from a mobster’s casino in mob-infested jersey!
Trump luxury resort folds, leaving buyers defrauded…litigation has commenced…send for sister maryanne, the corrupt federal judge to preside, coverup, etc., she’s in n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud and handles her own motions to recuse her and like mobster trump should be in jail ... (see RICO Case)
] earned many billions of dollars [ at whose expense ], which in a sense was both a scorecard and acknowledgment of my abilities [ to fool most of the people, all of the time. ] ." TRUMP DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE...
PONDERING PRESIDENTIAL RUN... [Don’t make me laugh! … Donald T_rump Would Impose 25% Tax on China Imports if President [ trump also said america’s become the laughingstock of the world … true enough … and trump the biggest joke … Indeed, that trump even posits the possibility of a run when he should be in jail is a testament to just how big a laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and scoundrel trump wraps himself in populist american flag and offers up an (too little too late – typical lightweight) implausible solution to keep ‘the juice’ flowing though he’d already be in jail in a rational, non-declining nation with meaningful laws. All China has to do is dump (and not prospectively buy) their ever more and declining in value day-by-day (from dollar debasement policies) u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down to it, this has been america’s most significant export. Indeed, this irrevocable structural shift, hailed by cia men hw bush and clinton (clinton couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no uncertain terms condemned and warned against by Perot, a man of honor who, unlike his opponents, could not be bought, which is the reason, in pervasively corrupt america, he could never have been elected. Interestingly, you may have noticed the good (but not great, other than the spotlight on pervasive bribery including judges, police, politicians, etc., being far too light) the film ‘The Untouchables’ getting a wide re-airing of late, purporting to be a significant part of american folklore / history / culture. However, the reality is that in america, and certainly today, the real story with impact is that of ‘The Touchables’. The reality is that Elliot Ness died a broken man; bankrupt, unable to even win election to the mayoralty of his then current hometown. He was incorruptible; and hence, in the real america, unelectable at the least if not also all but unemployable (he and his are among those few genetic anomalies in america as I’ve previously alluded to. How far america has fallen from even false perception! Pervasively corrupt, meaningfully lawless america can’t even fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on offensive (defensive a misnomer / propaganda) military spending than all the nations of the world combined, and by a large margin at that. Do you see a pattern emerging here [ I unfortunately only belatedly did, and the feds, fed employees, cia, all 3 branches of the u.s. government, etc., are included in this evolved american trait of inherent criminality in the most nefarious sense … The pervasively corrupt american illegal system … corrupt u.s. courts / (lawyers) / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation. ] “I would announce, without equivocation, a 25% tax increase on anything purchased from China.” ]
CHENEY HECKLED... 'DRAFTDOGER!' 'WHERE'S BIN LADEN?' ]
White House talks fail to produce budget deal (Washington Post) [ Hope is still alive say the people who hope they're prayers for a government shutdown are answered ... after all, they can't muck up what they're not in session to f*** up ... then, they're plenty to spare … More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). Defacto bankrupt america the new marxian dream … eh, comrade ? ... Talks to avert shutdown make no headway (WP) The people are sayin' there's still hope as no way as in no headway is the right way. After all, the Dems are playin' political pretend here given the magnitude of defacto bankrupt america's insurmountable debt {GOP’s plan for 2012 budget comes in at $6.2 trillion less than Obama’s (WP) Proposal represents GOP’s most comprehensive philosophical statement since midterm wins.(and then there's all that funny money)}. Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ . With deadline near, spending accord is elusive (WP) [ If only their spending was as elusive as accords. Oh, there's no question but that they really know how to spend your money at the further expense of children … yet, elusive in this context is a good thing as hope still remains … House GOP leaders turn to Dems for deal (WP) [ Of Dees, Dems, Does, and Gops … Sounds like a plan … Not! … The people are still hoping, praying … will their dream come true? … Government shutdown looms- (WP) [ Shutdown? ... One can only hope, and pray ... after all, they can't muck up what they're not in session to f*** up ... ] After back-to-back meetings at White House and on the Hill, Obama and congressional leaders remain billions of dollars apart as the first federal government shutdown in more than 15 years draws closer. ] President Obama and congressional leaders met again Thursday night to try to negotiate a deal on a spending bill that would avert a looming federal government shutdown. ”Differences have been narrowed,” Obama said.
A test of Obama’s leadership style (Washington Post) [ Leadership style? Are you kiddin'? What leadership? 'Wobama's been a failed president since his first broken campaign promise; and there've been plenty more since then. The man's a total fraud!
Obama says shutdown would be ‘inexcusable’ (WP) [ What is totally inexcusable is 'wobama the b' (for b*** s***) continuing in the office of the Presidency. He is an abject failure and a total fraud. He should be impeached and removed from office. Time for clichéd, stereotypical, 'mr. for a nickel he will' to go! GOP lawyer circulating wobama impeachment article on Hill...
Constitutional Problems with the Libyan War Ron Paul | The costs of this terrible mistake cannot be ignored. Obama Raises American Hypocrisy To A Higher Level 10 Reasons Obama is Just As Bad or Worse Than Bush AP 4-5-11 George W. Bush was clearly a mentally-challenged puppet of the military/banking/oil elite. The policies put it in place at breakneck speed after 9/11 were provably predetermined by think tanks well in advance... but there was a noticeable in-your-face quickening of corporate-government tyranny under Bush.
These policies like wars of aggression, illegal surveillance of Americans, torture of detainees indefinitely held without formal charges, unfair “free trade” agreements, and bank bailouts ... these policies accelerated under Obama, even more of the draconian playbook is unfolding.
After 8 years of Bush’s reign that ended with a record low presidential approval rating in the low 20s, Obama’s promise of hope and change ...Although policies being implemented under Obama’s leadership exhibit the continuation of Bush’s tyrannical agenda, his stunning betrayal of populist and Constitutional principles in support of these actions makes him the ultimate hypocrite...
There have been many articles written about Obama’s unkept promises and outright lies, but here are 10 actions that prove Obama is just as bad if not worse than Bush:
1) Bank/Corporate Bailouts...
2) Betrayal of the Poor...
3) Expansion of Free Trade: Obama excoriated NAFTA, GATT and other so-called “Free Trade” agreements that were put in place under Clinton and Bush (with CAFTA)...These free trade agreements are designed to only help the multinational corporations who wrote them, and who Obama now works for. … the government moves forward with many new similar agreements.
4) Escalating Wars of Aggression...
5)Internet Rights Eroding...
6) Finally, the DHS has been arbitrarily seizing domain names, which is clearly unconstitutional … Obama is completely in bed with Google and others in the corporate information cartel...
7) Free Speech Restrictions...
8) Illegal Domestic Surveillance...
9) Rule of Law is Dead...
10) Obamacare Fascism... ]
From Egypt to Libya and now the budget, the questions on leadership style have followed a consistent pattern.
Would Trump pass a budget? (Washington Post) [ You have to be pretty low on the 'evolutionary food chain' to be taken in by a fraud like trump. Yet, total b*** s*** and fraud that he is, as the flip side of the same coin as fraud and failed president wobama the b (for b*** s***) it would represent the ultimate match-up in the 'new' failed and fallen america. Gaming is an economic win (WP)“Gold farmers” and other online workers in Asia are benefitting, according to a World Bank report. [ Well, I don't know about online, but offline certainly has been a big win for Wynn, Steve Wynn, who was 'chased' from mob infested jersey by mental case mobster trump et als. Drudgereport: NBCWSJ POLL SHOCK: TRUMP #2 GOP [ NBC where t_rump has his Jerry Springer derivative shock-jock show and sinkhole new york's fraud street journal … poll? … Don't make me laugh … Milbank: Donald trumps CPAC (WP) [ Trump’s a loser, dressed up and propped up by and to shill for a declining, fallen nation in the most corrupt regions (ie., new york, jersey, etc.) of the country (every fallen nation has such); of that there is no question …"Over the years I've participated in many battles and have really almost come out very, very victorious every single time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s never won a battle that wasn’t fixed in advance (including the ‘pre-packaged bankrupcies’ crammed down the throats of objecting creditors – jersey general ] He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people and companies, and I've won many wars," he added. (Though he didn't serve in the military.) "I have fairly [according to mobster rules; ie., bribery, money laundering, etc.] but intelligently [ as any other mob boss … trump is total b*** s***, a fraud, and lightweight … and, despite the façade, quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of american decline and part of the problem, not the solution! …trump also said america’s become the laughingstock of the world … true enough … and trump the biggest joke … NEWS FLASH: Direct from Lost Angeles Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now caleefornia mob fame with his continuing message for the past several years: buy real estate (and watch the values go down).
Bank sues Trump over Chicago tower loan...
Trump casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal Casino, 1 Dead - Second Such Incident In A Year
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Chain stores post increased sales (Washington Post) [ The mall? If they can find one with stores … Drudgereport: Malls hit highest vacancy in 11 years... Reality paints a different picture ... You're going to see some very large bankruptcies / foreclosures soon … This is the grim economic reality [ http://albertpeia.com/grimreality.htm . A Trading System That Challenges the Efficient Market Hypothesis [ I haven't included the body of this article because it's not worth your time. What parallel universe is McCurdy operating in? Even in the heyday of that so-called hypothesis, close examination of the data indicated that if you weren't timing the market you were, in a somewhat 'Charlie Sheenish' manner of speaking, duh! … losing! (my MBA Thesis, 1977, NYU GBA, Finance – which required study / mastery of such math intensive theory which wasn't for the faint of heart.) Said 'hypothesis' wasn't true then and certainly isn't true today where complex computer-programming can and does artificially produce the various criteria / buy / sell / signals alluded to in the article (they're widely known / followed) creating the rigged / fraudulent trading game geared to maximized the 'churn-and-earn' commission profits (net negative in economic terms) and enabling the passing of 'those hot potatoes'/paper shares in a manner that resembles a game of musical chairs with those not in the loop winding up holding the bag (including pension funds, etc.); all the while funding those lavish lifesyles / over-compensation of the frauds on wall street along with the direct / indirect bribes inuring them from stigma and as well, insulating them from proper scrutiny and prosecution. Fundamentals, fundamental rational analysis has become virtually irrelevant to these now fraud-prone markets like never before in history facilitating frauds of magnitudes that have made the rationalization 'too big to fail' a byword of pervasively corrupt, defacto bankrupt american failed finance; which frauds continue unabated, unprosecuted even as you read these words. In retrospect, one might say of such theory, in reality, that famed snoopy(ish - the dog) aphorism, 'baffling them with b*** s*** '. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. Dave's Daily 'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you still can since there's much worse to come! ]
Zeroing in on giant insider trading ring (Washington Post) [ Just don't bring the case in new york (or the 2nd or 3rd circuits for that matter); the bribes have already been paid, one way or another. Bonds show little concern about U.S. fiscal health WP/Bloomberg (they call that the 'dumb money', you know, your money; while the smart money, ie., PIMCO, sold their entire portfolio of u.s. bonds. April Is a Good Time to Sell [ I quite agree … at the least a 'sell in May and go away', but 'don't be mentally ill, sell in April!' Adler ]
Whistling Past the Expanding Graveyard as Spain Goes 'On the Clock 'Inflation Trader 'For some time now, the markets have been ‘whistling past the graveyard,’ impressively ignoring and/or shrugging off a fair pile of news that ought definitely to be negative for equities and probably somewhat negative for bonds as well. I’ve detailed these things previously and they don’t really need much repeating.
But it’s one thing to go whistling past the local church graveyard, something else entirely to keep whistling when the graveyard stretches on for miles. Yesterday, Portugal formally asked the EU for a bailout. “I tried everything but we came to a moment that not taking this decision would bring risks we can’t afford,” said Prime Minister Jose Socrates. A day or two ago, there had been talk that Portugal wanted a short-term loan to float it past a big slug of bond redemptions that is approaching; the EU said ‘it doesn’t work that way,’ so Portugal was forced to throw itself on the mercy of the Union.
Well, this is something less than a total surprise, and indeed Portuguese bond yields rallied 17bps, along with Ireland’s 32bp rally and Spain’s 6bp rally. I don’t know how Portugal seeking aid improves the lot of Ireland, but there it is. Now, I don’t really care about a one-day rally but the significance of Portugal succumbing is that the market’s crosshairs will now be trained on Spain, Italy, or Belgium. Judging from market yields, it would appear Spain is likely to be the next one ‘on the clock.’ And that’s really the main event, because Spain’s economy is much larger than Portugal’s, Greece’s, or Ireland’s.
The graveyard stretches onward. How long can markets keep whistling?
U.S. 10y note yields reached 1-month highs at 3.55%, and I will not be at all surprised to see them keep going higher. .. ] The SEC says Matthew Kluger passed tips on corporate deals to a middleman, who then talked to a Wall Street trader, for 17 years.
A Trading System That Challenges the Efficient Market Hypothesis [ I haven't included the body of this article because it's not worth your time. What parallel universe is McCurdy operating in? Even in the heyday of that so-called hypothesis, close examination of the data indicated that if you weren't timing the market you were, in a somewhat 'Charlie Sheenish' manner of speaking, duh! … losing! (my MBA Thesis, 1977, NYU GBA, Finance – which required study / mastery of such math intensive theory which wasn't for the faint of heart.) Said 'hypothesis' wasn't true then and certainly isn't true today where complex computer-programming can and does artificially produce the various criteria / buy / sell / signals alluded to in the article (they're widely known / followed) creating the rigged / fraudulent trading game geared to maximized the 'churn-and-earn' commission profits (net negative in economic terms) and enabling the passing of 'those hot potatoes'/paper shares in a manner that resembles a game of musical chairs with those not in the loop winding up holding the bag (including pension funds, etc.); all the while funding those lavish lifesyles / over-compensation of the frauds on wall street along with the direct / indirect bribes inuring them from stigma and as well, insulating them from proper scrutiny and prosecution. Fundamentals, fundamental rational analysis has become virtually irrelevant to these now fraud-prone markets like never before in history facilitating frauds of magnitudes that have made the rationalization 'too big to fail' a byword of pervasively corrupt, defacto bankrupt american failed finance; which frauds continue unabated, unprosecuted even as you read these words. In retrospect, one might say of such theory, in reality, that famed snoopy(ish - the dog) aphorism, 'baffling them with b*** s*** '. (Which as it stands today particularly, remains an american financial / economic strategy, albeit a now widely known failed strategy.) - Lawyer charged with insider trading (Washington Post) [ Come on! Just enough for a few headlines so people think they're actually doing something. They could (but don't) bring a case as this or other wall street crime against a different wall street liar (sic lawyer) / fraud in that corrupt sinkhole new york (metro, ie., jersey, conn., etc.) every single day and bearly touch the tip of the iceberg. Is anybody foolish enough to think what goes on there is legitimate? Remember, still no pros for the huge debacle / fraud precipitating the last and continuing economic / financial crisis. Chemist charged with insider trading (WP) [ This remains incredulous to me. Everyone but the big boys / frauds! The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. Dave's Daily 'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you still can since there's much worse to come! This is the grim economic reality [ http://albertpeia.com/grimreality.htm . Looking Like A Good Time To Sell Into Strength - Harding PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). SEC: Wachovia cheated investors (WP) I truly can see decreasing the apple weighting (formerly 20%), and increasing the oracle (open office, etc.), google (ubiquitous) weighting, but increasing dyingosaur microsoft weighting … I don't think so … something's gone awry here that smacks of desperation and an attempt to circumvent the visual effects on the nasdaq of a post-jobs apple, viz., over-priced apple sauce. Isn't that just like the frauds on wall street … to pad the nasdaq bubble based on a 1-stock story (apple), and manipulate when that 1-stock story falls to earth! April Is a Good Time to Sell [ I quite agree … at the least a 'sell in May and go away', but 'don't be mentally ill, sell in April!' Adler ]
Go to following pages for above links:
http://www.albertpeia.com/currentopics2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
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