August 3, 2010 posts

Business / Economic / Financial

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
In early April, CNBC asked: 'As job worries ease, will anything stop the stock market?' Investor's Business Daily stated that stocks are 'manufacturing a worldwide recovery.' The Wall Street Journal proclaimed: 'Check real estate; It's time to delve in.' Everyone wanted to take credit for the recovery and 'Bernanke says Fed helped stem 2008 panic' (Bloomberg). The Wall Street Journal observed that 'The bailouts are looking much less pricey.' According to conventional Wall Street wisdom, the bear market was dead. A revival of the bear was less likely than a Foreman comeback. Contrary to popular belief, the ETF Profit Strategy Newsletter noted two days after the market top: 'The potential exists that Monday's high - which was only one point short of the 61.8% Fibonacci retracement at 1,220 - marked a significant market top.' While Wall Street had to warm up to that idea, the bear roared back and erased eight months worth of gains within 22 trading days. The decline was led by banks (NYSEArca: KBE - News), financials (NYSEArca: VFH - News), materials (NYSEArca: XLB - News), small caps (NYSEArca: IWM - News), mid caps (NYSEArca: MDY - News), real estate (NYSEArca: IYR - News) and consumer discretionary (NYSEArca: XLY - News) which tumbled between 20 and 25%. With the S&P close to 1,000 and the Dow below 10,000, the opinion that a double dip was close became the popular opinion and double dip headlines popped up everywhere.
Double Dippers Silenced
On Labor Day, when the S&P futures dipped to 1,003, the ETF Profit Strategy Newsletter noted that, 'considering that the S&P is butting against the 100-week SMA, lower accelerations band, 38.2% Fibonacci retracement levels, round number resistance at 1,000, and weekly s1 at 994, there is a good chance we will see some sort of a bounce develop from the 990 - 1,015 area.' Have you noticed how the rally from the early July lows has silenced the double dippers? In fact, Morgan Stanley just told us 'fear cheap money, not double dip.' What's the purpose of dwelling on the past? If this were a court case, you would try to examine someone's character. Someone who tends to tell the truth is viewed as being truthful and those who do not, vice versa. No doubt, Wall Street and the financial media haven't built a track record of sound financial advice. Trust them at your own peril.
Looking Ahead
There is no sense in dwelling on past mistakes. Let's take a look ahead. A chain is only as strong as its weakest link. It makes sense, therefore, to examine the weakest link. The post 2007 bear market chain reaction started with banks, financials and real estate - the weakest link. How strong are those sectors now?Real estate prices: The market recently rallied on better than expected new home sales. Reportedly, June's sales came in at 330,000 units annualized, which was 20,000 higher than expected. At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record. Is this really reason to celebrate? But wait, there's more. The S&P Case-Shiller Composite Home Price Index inched from 144.59 to 146.43 for May, a 1.25% increase. Many are unaware that the Case-Shiller Home Price Index is a three month average and is released with a two month lag. The most recent 3-month average as of May included the period when buyers still received their $8,000 tax credit. As the chart below shows, despite a 80%+ rally in equities, trillions worth of stimulus money, $8,000 home-buyers tax credit, and a lot of hot air, the Case-Shiller Index has only risen 6 points, or 5.15%, from its March 2009 low and remains 30% below its 2006 high. [chart]
Banks' Toxic Assets: It's no secret that the economy started choking because banks gorged on toxic real estate assets. As the real estate related losses piled up, banks got into trouble and started hording their meager funds and lending dried up. Since then, banks have taken free government money and invested it in various Treasuries. Even yields for short and long-term treasuries (NYSEArca: TLT - News) have fallen, and banks have been earning interest without risk, while businesses can't obtain funding. Another income source for banks has been securities trading. But, since stocks have fallen, so have banks' trading revenue, meanwhile banks' real estate portfolios remain unchanged. Unemployment is persistent and foreclosures continue to soar. Thus far, free interest and rising stocks have covered up the losses racked up by banks' portfolios of toxic assets. But the weak link (falling real estate prices) has not been fixed. Once pressure is put on the chain, it will break again. The problems within the financial sector have been visible all along. 106 banks, many of them regional banks (NYSEArca: KRE - News), have failed already in 2010. At the same time last year, only 65 banks failed. An additional 775 banks are on the FDIC's problem bank list. Unlike Wall Street and the financial media, the ETF Profit Strategy Newsletter bothers to take a look under the hood and examine the engines that drive the economy. It's quite obvious that a number of pistons have blown, the engine is sputtering but the car is rolling downhill. Once the next hill comes, the car (aka the economy) will come to a standstill. AAA can't fix blown pistons, neither can the government.
The ETF Profit Strategy Newsletter regularly and consistently monitors and analysis technical, fundamental, sentiment and valuation gauges to formulate detailed short, mid and long-term forecasts, along with a target for the ultimate market bottom. ‘

Running Out of Gas: Dave's Daily ‘Earnings today from Dow Chemical (DOW) and Procter & Gamble (PG) disappointed while Pfizer (PFE) delivered a good report. Most economic data, Pending Home Sales, Factory Orders and Personal Income/Spending were anemic reflecting an ongoing economic slowdown. Key action still remains in higher commodity markets (energy in particular) stimulated by a still weakening dollar and the enigma (low yields) of bonds Volume remains pathetically light revealing only a few trading desks, HFTs and hedge funds as involved. Breadth was negative which should bring out the dip buyers as the $NYMO eases back from short-term overbought … ‘

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us everyone! ] Treasury Secretary Timothy Geithner acknowledged that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.

China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To Expand And Develop China’s Gold Infrastructure The moment many gold bulls have been waiting for – the Chinese Central Bank has just released a directive informing everyone it is commencing the development of a healthy gold market.

The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above $1.32 Another violent change of direction from what we’ve come to expect from the euro and the dollar.

22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night As the first of the 80 million Baby Boomers have begun to retire, it has become increasingly apparent that the United States is facing a pension crisis of unprecedented magnitude.

Americans who swap passports London Telegraph | At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. At the US Embassy in London, there is a waiting list that none of the officials likes to discuss. On the list are Americans hoping to give up their citizenship… (sure sign of insanity … I mean, Orwellian england of all places?)

Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of Philadelphia has started temporarily closing fire stations in order to balance its budget.

Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis will layoff 37 employees, including 19 of its 62 police officers.

In devising punishments, SEC faced with competing interests (Washington Post) The best punishment and the greatest deterrent is to assure that the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed; that is, to forfeit what they stole by fraudulent means (remember, the bad paper is still out there but I believe slowly but surely and very selectively being supplanted by hard, albeit fiat currency) at the least. The cost to the treasury / taxpayer has been enormous and hence, the resistance to transparency / audit. The wall street perps should pay, and as yet, they haven’t.

Tiny Tim geithner to bankers: Fear not new rules (Washington Post) They don’t! … And, you can take that to the insolvent, mark to anything bank! God bless us everyone! … And tiny tim, where’s that missing 4 trillion at the new york fed? Have the taxpayers, through more surreptitious skullduggery effectively picked up that tab too?

Bernanke: Long road back to economic health (Washington Post) No-recession helicopter ben, waxing philosophical while strumming a few lines from the Beatle’s ‘Long and Winding Road’ with great emotion that makes us feel for that poor sot … or snot … or NOT!

Stocks surge on soothing reports (Washington Post) July manufacturing slows, but remains positive (Washington Post) Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

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

Come on! Who are they kidding? All the data was bad, and that ‘not bad as expected dog don’t hunt anymore’!

They’re losing their minds in china:
Silicon Alley Insider: ‘… The first big economic news of the week was the Chinese PMI which indicated that Chinese manufacturing was inching ever closer to contraction. But contrary to the expectations of some, it did not spook investors. In fact, Asia had a very big night, with Shanghai gaining about 1.3% …’;

europe:
the basket-case eu economy, with obfuscation taken directly out of the fraudulent wall street playbook including fake stress tests, saw air ball stock rally based on earnings data long ago discounted;

u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…The mood improved further still after the ISM Manufacturing Index for July came in at 55.5. That may have marked a pullback from the 56.2 of June, but it exceeded the 54.2 that had been widely expected ...’

Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar dollar part of the rally, and so on!

This is an especially great opportunity to sell / take profits since there is much worse to come!

Warning Signs Suggest Market Headed for Another Collapse In early January 2008, I had a very troubling conversation with my colleague at Matrix Analytix regarding a significant warning sign suggesting that a major crisis loomed on the horizon of the equity markets that year. The content of our conversation was focused on the implications of a massive one-year head & shoulders on the S&P 500 (SPY). The issue consistently pervaded my mind because if what the equity markets seemed to signal was true, we were probably headed for a major collapse. I remember asking him specifically, “Can this be for real? What are the implications of a head & shoulders of that magnitude completely unwinding?”My colleague all but confirmed my concerns even pointing to a potential culprit for the impending downturn. He had noted that the markets had all but brushed off early warnings of systemic risk and liquidity concerns posed by the potential failure of subprime MBS’s that August, and that such concerns were likely to resurface in 2008. I, for one, didn’t really care what the potential culprit may be. For me, the fact that market technicals suggested that an impending failure was drawing near formed the basis of my concerns.The fact that market participants, investors, and the mainstream media continued to put their heads in the sand and ignore such blatant signs of the broader market was simply unacceptable. At the time, the S&P 500 had rallied nearly 35% over the past 2 years. There was rampant discussion of Dow (DIA) 18,000 as the market continued to “benefit” from the so-called “Goldilocks economy.” Almost everyone was either oblivious to the warning signs of the broader market or simply decided to ignore them.

Turn the page to today, and it’s the same story all over again. While investors, fund managers, and the mainstream financial media debate whether we’re headed for a double-dip recession, they simply continue to disregard the obvious technical damage done on the broader market. Once again, this article is not so much concerned with the potential fundamental reasons or theories advanced as to why the markets might unravel. Instead, I’m more concerned with what the broader market seems to be telling me about the immediate future.

One can find no shortage of fundamental or mechanical theories explaining what might form the basis of a future financial collapse published at Zero Hedge, by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy into a lot of the evidence presented by these sources, and believe that one gains a better grasp of financial reality spending 10 minutes with Zero Hedge than spending 2 weeks listening to the mainstream financial media. It is laughable to compare the vacant drivel coming out of Dennis Kneale to even one single article published by Tyler Durden or Ryan Iskander.

Once again, right now I’m focused on what the trading activity in the broader market seems to be telling me rather than on what the fundamentals of the economy or the mechanical structure of the markets indicate. The techncials suggest, as they did in early 2008, that there is something fundamentally wrong with the financial markets and that a collapse, whatever the fundamental reasons may be, is potentially drawing near. There are seven issues I’ll briefly discuss below, and why it's imperative that my readers should explore these issues in more detail.

1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ

The biggest warning sign the market seems to be giving us right now is the blatant 10-month head & shoulders formation seen on each of the major indices. Like in 2008, a massive head & shoulders of this magnitude is not something that investors ought to take lightly. Millions chose to ignore this warning sign in 2008 at their peril. I’m not going to sit here and belabor the point as I’ve already written extensively on this topic, which could be found here.Yet, to summarize, a head & shoulders formation is arguably the most bearish technical formation in the books. The time, breadth and size of this head & shoulders is exactly the same as what we saw in early 2008 just before entering the biggest bear market in modern history …

[chart]

2. BULLISH FLAG ON THE VIX?

Almost as important as the head & shoulders on every broad market index and exchange is the huge bullish flag on the VIX, VXN and VXX (VXX). Volatility looks like it's about to explode higher in the September to October time frame. A convergence of the upper and lower trend lines appears to take place near the end of August. This certainly does not bode well for the markets. An explosion of volatility can only be viewed as conclusively negative for the markets. We can’t have a massive spike in volatility without a coinciding collapse in the equity markets …

[chart]

3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY MIGHT BE OVER

This topic has already been written about quite extensively over the past few weeks. As you may or may not be aware, the 50-day moving average crossed under the 200-day on the S&P 500 signaling that the March 2009 to April 2010 bull market might be at an end. When the 50 and 200 days cross in this manner, it suggests that the overall trend has weakened to such a degree that the recent price action is viewed as a topping process for the markets. We saw this exact same bearish cross on the S&P 500 in early January 2008 right at the start of the great bear market. You can read more about the death-cross here, here and here …

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

Arguably one of the biggest warning signs suggesting that the entire 2009 to 2010 advance is just a bear market rally arises from the fact that the move was done on increasingly less volume. The clear lack of conviction indicates that the move was orchestrated by very few market participants. Some have advocated that the 2009 to 2010 rally was performed under the complete control of the federal reserve or by high frequency traders in either a ploy to combat deflation or by fixing the odds of the market to favor the very few. If Goldman Sachs (GS) posting gains every day in Q1 isn’t enough evidence that the game is fixed, I don’t know what is.

Every down move in the market is done on massive volume, and every up move on little to no volume. Each day of the February to April melt-up rally was easy to predict. When volume tanks, the market rises and volume picks up, the market tanks. What kind of no-conviction fraudulent market rallies on zero volume and tanks on heavy volume? Even the July bounce to this correction was done on low volume. Down days in July exhibited huge volume while up days saw declining participation.

This lack of conviction in the equity markets is further evidenced by the disconcertingly significant mutual fund outflows seen over the past year. Tyler Durden notes in an article posted at Zero Hedge last week:

The latest update from ICI is a doozy: in the week ended July 21, domestic equity mutual funds saw a 12th sequential outflow of $1.5 billion. Even as the market has surged 10% in the last three weeks, just under $10 billion have been redeemed from mutual funds, completely invalidating the move and further justifying the skeptics who see absolutely no reflection to reality in the volumeless ramp orchestrated by a few momentum HFTs and a couple of Primary Dealers with some excess leftover Discount Window change. Not to mention that 12 weeks in a row of outflows pretty much marks game over as far as retail participation is concerned in stocks…

[chart]

5. 1,000 POINT FLASH CRASHES

Adding to the concerns of low volume and mutual fund outflows, if 1,000-point inter-day swings in the Dow doesn’t raise a clear red flag to investors that the mechanics of the market is under fire, then clearly nothing can convince the average investor to consider caution in the coming months. Whether the so-called “flash-crash” was the result of some questionable “fat-finger” trade or the result of everyone putting in stop losses at the same level on the S&P (which I warned about 7-minutes prior to the crash see here) is anyone’s guess…

[chart]

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

INSIDER TRANSACTIONS (Washington Post) This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.

Harry Dent, Jr. Economy will be in a Depression by 2011
The worst of this next depression is likely to hit between mid-2010 and mid-2013, especially around early 2011, but if the banking system continues to implode a deep downturn or depression could begin sometime in 2009 instead of 2010.
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
Inflation will Increase until mid- 2010 and then turn to Deflation
Interest Rates will Increase
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012

Why Must The Media Keep Trotting Out Senile Incompetent greenspun And His Economic Lunacy? …and we continue to talk ourselves off the edge of the cliff. For the second week in a row Meet The Press trotted out the most financially incompetent of the financially incompetent and placed them on their undeserving pedestal.

Key Components Of America’s Military Are Now Dominated By A Chinese Monopoly Most of America’s key military technologies require rare earth elements, whose production China holds a near-monopoly over.

alan greenspan: “The Financial System Is Broke” We will be in deflation until the broke financial system becomes unbroke… and then we will have hyperinflation. [Little bit late to be talkin’ the obvious truth!]

Gold Has Got Its Groove Back How dare any of you second guess the gold bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to a day’s high of $1,186. Our precioussss is back on a tear, maybe.

Trying to make August less of a 'dog' with sidewalk sale (Washington Post) Sounds like a new, new plan to deal with the overwhelming success of the panoply of government stimulus / tarp, etc., plans ‘financed’ with money they don’t have and taxpayer ‘largesse’. For those who’ve lived long enough, they’re waiting for the apple carts.

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total b***s***!

Are the American people obsolete? Salon | The richest few don’t need the rest of us as markets, soldiers or police anymore. Maybe we should all emigrate.

What's coming this week (Washington Post) How ‘bout last week and the new american economic institution colloquially now known as ‘bank failure Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then, let’s hope for real rather than election-year market frothing fake / false / manipulated data.

U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse | RealtyTrac says that unemployment has become the major reason for foreclosures. In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010. But there has been a shift.

U.S. recovery hopes fade as economic growth dips Washington Post | The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC Transparency Act What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer’s dime.

Very Curious Activity in the Gold Bullion Market Leads to Speculation that Banks are Short Tons of Gold Huge gold swaps have recently occurred between the Bank for International Settlements and various banks in Western Europe and the United States. Bankers are attempting to play this up as “business as usual”. However, the gold swaps that have been conducted lately are recording breaking in size, as far from “business as usual” as you can get.

U.S. recovery hopes fade as economic growth dips The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.

Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a constipated bowel movement … Come on! Another one of those push the computer programmed trade button and off we go, reality / valuation / economics be damned. In real security analysis (very simplified / summarized), as opposed to the continued frauds on wall street, one must begin with the largest and most significant aggregate (a simple word picture / analogy: ‘rising tide lifts all boats’). If you get this right, the probabilities in your favor are substantially enhanced. From there, you want leading industries, and leading companies within said leading industries (again, larger aggregates then picks, to enhance probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for projections, (including income statement/EPS, balance sheet, and applying an appropriate P/E – a detailed, multi-faceted approach beyond what could be described in this summary); and, that’s all they are, projections. Beyond that, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

Slowing economic rebound raises unemployment fears (AP) [Wow! Talk about understatements!]

China Becomes Second Biggest World Economy China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie And Freddie Former Treasury Secretary, Goldman Sachs CEO, and bailout architect Hank Paulson has a bit of a head-scratcher of an op-ed in the Washington Post this evening all about charting a course for sustainable housing policy in the US.

Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the ‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow could hit 1,000 as predicted by Robert Prechter, based on his interpretation of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter, who has written 13 books on finance (external link), believes that the stock market is historically overvalued in terms of dividends and earnings, because of a “great rise in positive social mood.” But the mood changed in 2000 and the “trend toward negative social mood will lead to an economic contraction,” according to Prechter. “Small bear markets lead to recessions, big bear markets lead to depressions. The current bear market will be the biggest in nearly 300 years, so the depression will be correspondingly deep,” Prechter said.

The International Money Changers Reward the Euro for Forcing Austerity Activist Post | The growing noise for “solutions” to America’s very real debt problems is becoming louder as the calls for confiscating Social Security and Pensions are now everyday news.

Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

US Treasury is running on fumes The White House is screaming like a stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the lives of our soldiers and our coalition partners at risk.”

Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is hurting, money’s never a problem.

Look What Surprises They Snuck Into The Financial Reform Bill The Economic Collapse | The financial reform bill was supposed to “fix” Wall Street and the financial system, but it did not do much of anything. Even just a decade ago, major pieces of legislation in the U.S. Congress would be just a few dozen pages long. But today, it seems like every time Congress passes an important bill it ends up being over a thousand pages long.

Cash-starved California orders unpaid leave for workers California Governor Arnold Schwarzenegger declared a fiscal state of emergency Wednesday, requiring most state employees to take three days of unpaid leave per month until a new budget is enacted.

The Obama Administration Tries To Propagandize Its Way To An Economic Recovery Yesterday we noted how, absurdly, The White House blog was trumpeting a new cheap housing program as part of its recovery efforts.

Fed says some districts report slowing economy (Reuters)

Flaws of the European Stress Test … 'Bank stress test' became the magic phrase. Nothing calms fear like a stress test that's labeled as rigorous. The stress test raises a few very obvious questions: 1) Will it work? 2) Why was it needed in addition to a $1 trillion aid package? 3) Is the stress test just a gimmick to appease investors? The stress test is conducted by the London-based Committee of European Banking Supervisors (CEBS). Ironically, the test has ignored the majority of banks' holdings of sovereign debt. Sovereign debt concerns by the so-called PIGS countries (Portugal, Italy, Greece, and Spain) triggered the latest wave of financial problems. Ignoring sovereign debt in the Euro stress test would be like ignoring toxic real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan Stanley survey, European banks hold about 90% of their Greek government bonds in their banking books and 10% in their trading books. The bonds in the banking book are generally held until maturity, the bonds in the trading book are traded more frequently. According to a document obtained by Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on U.K. debt, and 5.9% on French debt. However, the stress test only looks at the bonds held in banks' trading books, which account for a mere 10% of Greek bond holdings. Can that be called a stress test? Nouriel Roubini says that 'the assumptions made about economic growth, about sovereign risk are not realistic enough.' The fact that only seven banks failed the test with a combined shortfall of $4.5 billion confirms the lax nature of the test. … The U.S. Bank Stress Test - A Nice Façade A closer look under the hood of the U.S. bank stress test, however, shows that there's not much substance behind the facade either. It was determined that the 19 tested U.S. banks need to increase their balance sheets by $75 billion to meet the conditions of what's termed the 'worst case scenario.' To a large extent, the $75 billion of additional capital was financially engineered. Banks didn't have to actually raise $75 billion. They were able to change the label of some of their assets on their balance sheets. The government supported this practice via mandatory convertible preferred shares (detailed analysis in May 2009 issue of the ETF Profit Strategy Newsletter) …’

SEC Says New FinReg Law Exempts It From Public Disclosure So much for transparency.

Regulatory Magic President Obama has signed the financial industry regulatory overhaul — officially, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Predictably, what he said about it cannot possibly be true.

Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen.

Flashback: Bush report: Sending jobs overseas helps U.S. The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of fiat money systems is the privilege for the custodian of the reserve currency to engage in regular practices of ham-fisted monetary management.

Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is amazing to me how little time the mainstream media is spending on this unfolding financial disaster and how much time it is devoting to things like Mel Gibson’s domestic problems.

Moody's: Regional banks on review for downgrade (AP)

Consumer confidence dims (Reuters) Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of econo...

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

Another Recession Due Circa 2012: Jim Rogers A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US).

The Continuing Crisis in the New World Order LewRockwell.com | The crisis continues in the new world financial order with no end in sight and no real solution being put forth.

China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High Rankings” America’s biggest creditor – China – has called our bluff.

US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults …

On the Disconnect Between the Market and the Economy Michael Shulman:

• The index of leading economic indicators fell 0.2% in June, the second drop in three months. A negative surprise.

• Unemployment claims rose to 464,000, more than expected.

• Uncle Ben said we are facing a period of “unusual uncertainty.” No kidding.

• Uncle Ben said we need continuing stimulus to a Congress unwilling to stimulate anyone or anything other than lobbyists with cash to contribute.

• Home sales fell 5.1% in June…’

(No recession helicopter ben) Bernanke Admits Major Policy Failures; Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-annual testimony before Congress yesterday, Fed Chair Ben Bernanke admitted that after more than a year and a half of zero interest rates and $3 trillion in federal deficit spending since 2008, the best case scenario for the U.S. economy is slow growth and high unemployment. The S&P 500 is up 2.5% so far this morning on this 'good' news. Bernanke's congressional testimony included the following statements (emphasis added by me):

"Most [FOMC] participants viewed uncertainty about the outlook for growth and unemployment as greater than normal, and the majority saw [at the June Fed meeting] the risks to growth as weighted to the downside."

"Financial conditions--though much improved since the depth of the financial crisis--have become less supportive of economic growth in recent months."

"Many banks continue to have a large volume of troubled loans on their books, and bank lending standards remain tight. With credit demand weak and with banks writing down problem credits, bank loans outstanding have continued to contract."

"After two years of job losses, private payrolls expanded at an average of about 100,000 per month during the first half of this year, a pace insufficient to reduce the unemployment rate materially. In all likelihood, a significant amount of time will be required to restore the nearly 8-1/2 million jobs that were lost over 2008 and 2009."…

Serious Analysis has given rise to a realistically mocking view of the current fraud on wall street:

The Markets & The 'Teen Drama Economy' Jonathan Cheng If the market’s mood swings these days are reminding you of high school, you’re not alone ...

NATIONAL / WORLD

Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond control...
854,000 people have top-secret security clearance...
You really have to laud The Washington Post for this investigative brilliance which whether people appreciate it or not, requires great corporate and personal courage; even more so inasmuch as this is their backyard, so to speak. Clearly, this illuminates the boondoggles which amazingly are coming at a time when america will not be able to handle ‘bare necessities’ much less the self-perpetuating, need-creating, bureaucracies which I’ve previously likened to a perverse version of ‘Field of Dreams’ where if you will commit taxpayer dollars, they’ll find / create a war, conflict, new war, etc., to spend it on. NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking Spaces In yet another terrifying expose, The Washington Post continues to lift the veil on just how massive the US government’s spying operation has become.

The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far. The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed. ( UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ex-Justice official quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims US v. AZ... Cases against Wall Street lag despite Holder’s vows to target financial fraud Obama broke promises ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on U.S. Google Trends ]

‘The Obama Deception’ Censored ‘The Obama Deception’ has been censored In light of this development, I provide an archived site version which appears to be complete (but will be compared with earlier version and replaced with same if incomplete) http://albertpeia.com/obamadeceptionhighqualityversion.flv

Then there is the well researched, produced, and informative ‘ESOTERIC AGENDA’ which explains how we’ve gotten to this forlorn point: http://video.google.com/videoplay?docid=-7052400717834950257#

For the Same Reason I’ve Included Here a Web Site Archived FLV Version of Esoteric Agenda http://albertpeia.com/esotericagenda.flv

Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-Shirt and ask the question, "Where is the Birth Certificate?". The REAL name of President Barack Obama is BARRY SOETORO so get a t-shirt with a picture of him on the front and the question, "Where is the Birth Certificate?". http://infowars-shop.stores.yahoo.net/basot.html Obama’s Comeback Strategy: Appearing On “The View” Now we know how the President will turn his flagging political fortunes around… [More b*** s***!].

Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News talking heads, and no shortage of Tea Party activists like to characterize Barry Obama as a Marxist.

Poll: Waning support for Obama on wars usa today | Support for Obama’s wars fell to 36%, down from 48% in a February poll.

Feds raid Amish dairy and threaten action over raw milk sales Natural News | The U.S. government gestapo is at it again in its crusade against raw milk.

Establishment Media Pushes Brain Eating Vaccines The establishment media and the scientific dictatorship are promoting brain-eating vaccines that virtually lobotomize people and rewire their brains into a state of subservient compliance so that their natural instinct to get angry and rebel against the tyranny being imposed upon them is neutered and sterilized.

Scientific Study Finds 40% Of All Store Receipts Covered In Dangerous Hormone-Disrupting Chemical A scientific study has found that receipts from ATM’s, grocery stores, fast food restaurants and gas stations contain massive amounts of bisphenol A (BPA), the harmful chemical that is known to cause fertility problems and cancer.

Germany gave assassination list to secret US unit The German government supplied a secret Pentagon task force with names of Taliban leaders that the US then could target for assassination, documents show.

Andy of Mayberry Shills for Obamacare Kurt Nimmo | In the Brave New World envisioned by the globalists, there is no place for the concept of retirement and no room for millions of retirees who were sold a bill of goods only to have it vanish.

The Mandatory Serviece Bill and the Impending Attack On Iran Kurt Nimmo | Rangel’s bill may never make it out of committee. The attack on Iran, however, is all but a foregone conclusion.

Oxford professor calls for drugging water supply Aaron Dykes | Oxford professor Julian Savulescu says fluoridation demonstrates how populations of the future could be mass-medicated through pharmacological ‘cognitive enhancements’ added to the water supply.

America: It’s Time To Stand Up And Scream “We Want New Leadership” Where is Howard Beale when we need him? Two years into the Greatest Recession Since the Great Depression (GRSGD) and our financial leaders are still telling us that we need to be patient while waiting for our economic recovery.

Iran warns Israel against waging war Iran’s foreign minister has warned the Zionist regime of Israel and its allies against waging a war in the Middle East, saying any possible war in the region will not be ‘limited.’

U.S. to strengthen sanctions against N. Korea amid concerns of Chinese influence The chief U.S. official in charge of nonproliferation outlined a plan Monday to penalize North Korea by choking off the international network of front companies and banks that largely fund its nuclear weapons program and the lifestyles of its elite. Sounds like the american economy / military industrial complex today and a case of ‘the pot calling the kettle black’..

Mullen: US has viable Iran attack plan The United States has a viable military plan to attack Iran and its nuclear facilities, Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, said on Sunday, stressing, though, that such a strike was probably a bad idea. Ooooh! Sounds like a plan … the Iraq, Afghanistan type of plan … bad plan.

liz cheney calls on Obama to shut down WikiLeaks Following the release of 92,000 war log files, Liz Cheney is calling for WikiLeaks to be shut down and says that the founder has “blood on his hands.” What? The founder of her family, Mr. ‘dead man walking’ cheney has loads of blood on his hands … drenched, in point of fact … that’s true. She’s totally mentally unbalanced broaching a subject for which her father, dumbya bush, and wobama are guilty in spades.

Top 2 Google Searches on “Food: The Ultimate Secret Exposed” Once again, the power of alternative media has prevailed over the whitewash of corporate media’s obsession with celebrity drama and unimportant sports discussion.

Food: The Ultimate Secret Exposed Addendum – Chemical BPA Linked to Medical Problems A new study appearing in the Journal of the American Medical Association found that higher levels of the chemical bisphenol A (BPA) in people’s urine were associated with cardiovascular disease, diabetes, and liver problems.

Food: The Ultimate Secret Exposed In a special video, Alex Jones addresses one of the darkest modes of power the globalists have used to control the population– food. The adulteration of the planet’s staple crops, genetically-altered species and intentionally-altered water, food and air all amount to a Eugenics operation to weaken the masses and achieve full spectrum domination.

Plan to Aid 9/11 Victims Is Rejected in House House Republicans on Thursday blocked a Democratic plan to provide billions of dollars for medical treatment to rescue workers and residents of New York City who suffered illnesses from the toxic dust and debris at ground zero.

Recession in U.S. Even Worse Than Estimated, Revisions Show The worst U.S. recession since the 1930s was even deeper than previously estimated, reflecting bigger slumps in consumer spending and housing, according to revised figures.

FBI reading your email? The Obama administration is seeking to make it easier for the FBI to make companies turn over records of individual’s Internet activity without a court order. As long as the agents deem the information relevant to a terrorism or intelligence investigation, it is legal under this potential bill. Many electronic privacy organizations see it as a major violation of privacy and the constitution.

US faces deadliest month in Afghan war With 63 US service members killed, July has become the deadliest month for American forces stationed in war-torn Afghanistan.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Google’s cosy relationship with the U.S. spy network has once again been thrust into the spotlight as the company is reported to have jointly invested with the CIA in an Internet monitoring project that scours Twitter accounts, blogs and websites for all sorts of information, and can also “predict the future”.

Google and CIA Fund Political Precrime Technology More evidence has emerged revealing Google’s spook connections. Noah Shachtman, writing for Wired, details how the CIA’s technology investment operation, In-Q-Tel, and Google are supporting a company that monitors the web in real time.

President Obama calls African-Americans a ‘mongrel people’ President Obama waded into the national race debate in an unlikely setting and with an unusual choice of words: telling daytime talk show hosts that African-Americans are “sort of a mongrel people.”

White House proposal would ease FBI access to records of Internet activity The Obama administration is seeking to make it easier for the FBI to compel companies to turn over records of an individual’s Internet activity without a court order if agents deem the information relevant to a terrorism or intelligence investigation.

Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring Project Steve Watson | Search Company’s ties to spy agency in spotlight again over real time Internet monitoring.

Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is complicit in the concerted effort to build a huge surveillance and control grid.

Pharmaceutical drug contamination of waterways threatens life on our planet Mike Adams | If we keep poisoning the planet at this rate, there won’t be much left to offer future generations except a toxic stew of patent-protected chemicals

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Democrat leaders have finally realised that anti-establishment sentiment is the driving force behind the Tea Party movement, announcing a plan to demonize it via a national campaign to associate the GOP and the Tea Party as one and the same.

Judge Blocks Key Parts of Immigration Law in Arizona A federal judge, ruling on a clash between the federal government and a state over immigration policy, has blocked the most controversial parts of Arizona’s immigration enforcement law from going into effect.

Source of leaked military docs unknown: WikiLeaks While the United States is trying to hunt for the individual behind the massive leak of US military data on Afghanistan war, the whistleblowers’ website, that made the 91,000 classified documents available to the world, has said that the source of leak is unknown.

Possible False Flag? Japanese Say Oil Tanker Attacked Near Hormuz Bloomberg is reporting this morning that an oil tanker owned by the Japanese company Mitsui O.S.K. Lines Ltd., operator of the world’s second-largest oil-tanker fleet, may have been attacked near the Strait of Hormuz, a strategically important waterway between the Gulf of Oman and the Persian Gulf bordering Iran.

Document leak part of U.S. plot, says Pakistani ex-general with ties to Taliban From the deluge of leaked military documents published Sunday, a former Pakistani spy chief emerged as a chilling personification of his nation’s alleged duplicity in the Afghan war — an erstwhile U.S. ally turned Taliban tutor.

Leaked files indicate U.S. pays Afghan media to run friendly stories Buried among the 92,000 classified documents released Sunday by WikiLeaks is some intriguing evidence that the U.S. military in Afghanistan has adopted a PR strategy that got it into trouble in Iraq: paying local media outlets to run friendly stories.

World Net Daily (I found them to be a less than credible israeli / bush aministration shill at best and haven’t even looked at said site in many years) writer says Fluoride is good for you. An open letter to Phil Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and fertilizer industries that work hand in hand with public water works to send toxic waste into the homes of millions across our country.

Democrat Propaganda Demonizes Tea Party Through Association With Establishment Steve Watson | Misguided attempt to portray libertarian ideology as fringe politics.

Congress extends war funding for Afghanistan Baltimore Co. Independent Examiner | Congress voted to extend funding for the war in Afghanistan by an additional $59 billion late on Tuesday.

Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to the Afghan war, emboldened by a huge leak of military files on the conflict, pushed Tuesday for pulling US forces from Pakistan.

Oliver Stone has apologized for his anti-Semitic rant, but is the damage already done. What damage? To perceived reality as opposed to reality? When you look at america’s pro-israel, self-destructive, contra-indicated policies, including the hands off policy vis-à-vis fraudulent wall street, you see the truth to what he says which is what so many astute individuals are already thinking / realizing. How can people continue to ignore the truth, to their own detriment Think about it. Do you really think he would risk the typical onslaught if the same weren’t true? ‘Director Oliver Stone has been forced to make a grovelling apology over an anti-Semitic outburst. The double Academy Award winner claimed that the Russians suffered more during the Second World War and that there was a Jewish 'domination of the media'. Stone also said that Jews had '****ed up' U.S. foreign policy for years and suggested the British supported Hitler ...’ The relentless attacks on Mel Gibson are of the same caliber and purpose; suppression of truth!

Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt Nimmo | Like the Great Depression, the Greatest Depression now being scientifically created has a specific agenda in mind.

On the Bloated Intelligence Bureaucracy

Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt Nimmo | Government says it is all the fault of shoddy accounting practices.

Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson | Tensions rise with saber rattling rhetoric.

David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’ David Cameron used a visit to Turkey to make his strongest intervention yet in the intractable Middle East conflict today when he likened the experience of Palestinians in the blockadedGaza Strip to that of a “prison camp”.

Rockefeller Study Envisages Future Dictatorship Controlled By Elite … (Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic news, however; it’s called reality: [Neanderthals, Humans Interbred, DNA Proves Signs of Neanderthals Mating With Humans - ‎Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here http://www.albertpeia.com/anthroindex1.htm Previously I wrote: FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote: [see infra] and [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [see infra] …] Global pandemics that kill millions, mandatory quarantines, checkpoints, biometric ID cards, and a world of top-down government control. These things are not lifted from the latest sci-fi blockbuster movie, they’re part of the Rockefeller Foundation’s vision for what the globe might be like in 15-20 years’ time under a new world order tightly controlled by the elite. [That’s getting awfully close to the outside ‘decades, not millennia or even centuries’].

Iran accuses US and UK of supporting group behind mosque attacks Iran is vowing to hunt down a Sunni separatist group which claimed responsibility for a double suicide bombing that killed 28 people at a mosque in the south-eastern city of Zahedan.

US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent bombings in the country’s southeast as a plot by Western military forces in the Middle East to spread terror on Iran’s borders.

WASHPOST Ombudsman: Why Silence on Black Panther Story? (Washington Post) ‘Thursday's Post reported about a growing controversy over the Justice Department's decision to scale down a voter-intimidation case against members of the New Black Panther Party. The story succinctly summarized the issues but left many readers with a question: What took you so long? For months, readers have contacted the ombudsman wondering why The Post hasn't been covering the case. The calls increased recently after competitors such as the New York Times and the Associated Press wrote stories. Fox News and right-wing bloggers have been pumping the story. Liberal bloggers have countered, accusing them of trying to manufacture a scandal. But The Post has been virtually silent. The story has its origins on Election Day in 2008, when two members of the New Black Panther Party stood in front of a Philadelphia polling place. YouTube video of the men, now viewed nearly 1.5 million times, shows both wearing paramilitary clothing. One carried a nightstick…’

Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman can scream racist comments because the Obama administration and most of the major news networks in America have her back.

‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic Revolution Guards Corps (IRGC) has implicated “the us, israel and some european countries” in the deadly blasts in the southeastern Iranian city of Zahedan.

De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin Was A Staged False Flag Event Over 1,100 pages of previously classified Vietnam-era transcripts released this week by the Senate Foreign Relations Committee highlight the fact that several Senators knew that the White House and the Pentagon had deceived the American people over the 1964 Gulf of Tonkin incident.

Afghans march in Kabul to denounce NATO strikes that killed civilians: Demonstrators shout anti-American slogans, denounce NATO strikes (Washington Post ) Sounds like a plan! Almost surreal was the appearance of gates on failed network ‘news’ show to shill the non-strategy of draw down (of troops) linked to success. What success? Just being there and every day they’re there is unequivocally abject failure. Celebritology Weekend: Angelina Jolie biography arrives; Heidi Montag files for divorce (Washington Post ) I usually don’t weigh in on entertainment news, but this headline concerning what appears to be a disparaging, and quite selectively so, purported biography of Angelina Jolie is very disheartening when you consider the numerous instances of failed leadership at nearly all very high levels of government having so detrimental an impact on the world, that morton deems his time appropriate to an actress who has actually tried to do good things (U.N., etc.) without having to. Indeed, even her latest film ‘Salt’ (spectacular by any standard as is her performance – there are at least 2 winning sequels there with 4 the max and stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to shame) had an important message in terms of the damage to this nation by a seemingly endless, nation-bankrupting, anti-american (war criminal israelis already, and quite correctly, globally hated) sentiment producing war strategy that is neither strategy nor reasonably consistent with any positive american goal / objective; but rather is such a debacle and folly that the same could very well be one that only an enemy of defacto bankrupt america could hatch and for the reasoning set forth in the well-written / directed film. She astutely observed and talked about the synchronicity of the film as juxtaposed to recent events revealing that she is wiser than most in Washington.

Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter | Wachovia was moving money behind literally tons of cocaine from violent drug cartels. It wasn’t an accident.

Vegetable zionist Zelig joe lieberman’s Model For America: Purging The Internet of Dissent When political Zelig joe lieberman attempted to justify draconian legislation that would provide President Obama with a figurative kill switch to shut down parts of the Internet, he cited the Chinese system of Internet policing as model which america should move towards

Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%...

Americans swap passports; Desire to avoid tax leads some to renounce citizenship...

FALTERING RECOVERY TRIPS DOLLAR...

GM, FORD and CHRYSLER Sales All Lag Estimates...

Stimulus Slammed: Republican Senators Release Report Alleging Waste...
The 100 worst stimulus projects...

SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT CAN DO MOST ANYTHING IN THIS COUNTRY'...
Deadliest Month Of Afghan War

Paper: Will Washington's Failures Lead To Second American Revolution

Maxine Waters faces trial over bank bailout funds...

HOT WATERS
Dems Say Sorry, Charlie...

Democrats Say Rangel Should Resign...
Obama: Time For Rangel To End Career 'With Dignity'...

Dutch become 1st NATO member to quit Afghanistan...
GATES: Few U.S. troops to leave in 2011 … Sounds like a … no plan! ...
JOINT CHIEFS CHAIRMAN: Defacto bankrupt u.s. has Iran strike plan Riiight! … new war plan the u.s. plan for dealing with failed plans ...

Gdp: 2.4%
Mediocre Growth...
Recession Deeper Than Gov't Previously Thought...
Nyt: Employment Outlook Fades...

Prince Charles: 'My Duty Is To Save The World' … Well, so much for that. There Goes The World! ...

AP: A bleaker outlook for economy into 2011...
Rangel faces 13 ethics charges...
(wobama) Calls African-Americans a 'mongrel people'...
'We are now in the trial phase'...
Catalonia (Dali, Picasso, etc.) bans bullfighting (very civilized)...

One In Five Californians Say They Need Mental Health Care (I’d say four in five is reality in cal and u.s.)e

CLAIM: Giant asteroid on course to hit Earth...

SEC Says New FinReg Law Exempts It From Public Disclosure...

Oprah Hits All-Time Ratings Low- like O -- Again!

GOLDMAN reveals where bailout cash went -- overseas banks!
POLLS: NEW LOWS FOR O...
Top U.S. officer warns Afghan war will get worse...
Bank failure tally passes 100 for year...
BUDGET DEFICIT TO REACH RECORD $1.47 TRILLION...
WH: A 'FISCAL SITUATION THAT REQUIRES ATTENTION'...
Kerry Docks New Yacht In RI To Duck MA Taxes...
PRICE TO ATTEND OBAMA'S BIRTHDAY BASH: $30,000...
CHARLIE RANGEL CHARGED WILL FACE TRIAL
RACE MESS: Obama Said Vilsack 'Jumped Gun' on Woman's Ouster...
Buchanan: Obama team's panic over losing whites...
POLL: ANY REPUBLICAN WOULD BEAT OBAMA IN '12...
Whites, Independents Deserting Obama...
PACK YOUR BAGS: CONGRESS CONFIDENCE AT 11%...

BAILOUT REACHES $3.7 TRILLION...
Gov't watchdogs: Mortgage program not working...
Bernanke: 'Unusually Uncertain'...
Unemployment rate high through Obama term...

Developing... NYT: WORKERS ON DOOMED RIG VOICED CONCERN ON SAFETY...

Arab guilty of rape after consensual sex with Jew...

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http://www.albertpeia.com/alresume.htm

http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm

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