August 6, 2010 posts

Business / Economic / Financial

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

Yeah! Dave’s the only one who seems to be on the mark concerning the preposterous market action this day. Even before reading same I was going to comment here that I believed that the decision to ‘mouse click / button push’ the programmed buy trades was probably made after hours in the previous session. Remember, these are desperate criminally insane frauds on wall street who really try very hard to get people to by into their paper-churning high-frequency trade / commission scam for which ultimately potentially productive money is siphoned off / drained from the economy into their pockets which is a net negative in real economic terms. They know all the tricks, technical trendlines, moving averages, etc., to suck them in: Buy Program Express Lifts Markets: Dave's Daily - The economic news from the unemployment report could not be worse and an old pattern was repeated -- higher volume on a selloff followed by an engineered "stick save" into the close. It used to be hard to make this stuff up, now it's becoming routine. As noted yesterday, bulls might like bad data since they'd expect another round of quantitative easing (QE2) from the Fed and a politically desperate administration. This means more liquidity baby and an opportunity to lift stocks to new highs. That's the thinking from bizzaro-land. So we get another big intraday 150 point swing in the DJIA as the "2:15 PM Buy Program Express" hits the tape on time as volume starts to dry up. That's why the caution sign advises to stay away from the Program Trading Express. Nevertheless, volume increased Friday with most of that coming early and often. Breadth was negative but not overwhelmingly so.

YAHOO [BRIEFING.COM] : ‘The week of August 6 began with plenty of promise, but disappointment over the July jobs led to a lackluster finish. The stock market started the week with a 2.2% surge that saw it close above its 200-day moving average for the first time since June. Participants were encouraged by the latest ISM Manufacturing Index, which pulled back for the third straight month to hit 55.5 for July, but still exceeded the 54.2 that had been widely expected. Midweek action was much more muddled. Participants digested a better-than-expected July ISM Service Index of 54.3, a worse-than-forecast 1.2% drop in June factory orders, a surprise decline in June pending home sales, and flat personal income and spending figures for June. Some took hope that the job market was seeing improvement since the latest ADP Employment Change stated that private payrolls for July increased by 42,000 when only 25,000 additions had been expected. However, news that initial jobless claims for the week ended July 31 climbed more than expected to a three-month high of 479,000 weighed on sentiment. Trade on Friday was mostly dictated by the government's official monthly jobs report, which showed that 131,000 nonfarm payrolls were slashed in July. A sample of economists polled by Briefing.com had expected, on average, a more moderate decline of 87,000 jobs. Combining the worse-than-expected July jobs report and the downward revision to June data, nonfarm payrolls had their worst pair of payrolls reports in eight months. Despite that development, the headline unemployment rate stayed at 9.5%, but that is because the labor force continues to shrink as discouraged job seekers suspend their efforts…’

Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue rate at 9.5%. At this rate of progress, and according to their thinking and manipulations, full employment at an unprecedented 0% unemployment is just around the corner as everyone stops looking for the jobs no longer here, many of which were sent overseas and which are not coming back owing to substantial economic structural / financial shifts.

Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of the 8.4 million jobs lost at the peak of the recession have been recovered, leaving millions of Americans still looking for work, according to an analysis by ABC News' Business Unit. Video: News Update: US Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News 71K more jobs not enough to dent unemployment rate The Associated Press

When perusing the headlines and the following, I immediately thought ‘between Iraq and a hard place (Afghanistan and america’s defacto bankruptcy)’:

Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that being between a rock and a hard place is not a good place to be. That is where the market is right now. We continue to have terrible news in the housing sector. There is no general economic recovery as of yet. Jobless claims continue to mount, while net new jobs are not being created in a significant enough number to even sustain the population growth (approximately 150,000 net new jobs per month needed). By far the majority of economic reports for May, June, July, and now August, have been worse than forecast. That includes home starts, home sales, home-builder confidence, retail sales, auto sales, consumer confidence, durable goods orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down on these bad reports. What gives? It seems that bad news is good news right now. Market investors are hoping that all this bad news will lead to more government stimulus. Pundits talk about more stimuli as if it was a good thing. Our European partners are telling us to be more fiscally responsible or we will be the next Greece. But investors are hopeful that another round of quantitative easing will be announced by the Fed next Tuesday and there is hope for a mortgage bailout for those one in five households with a mortgage that is underwater by August 17th. Now if you have been prudent on your investments and spending the last decade or so and find yourself without any bailout potential (except to maybe write the check for these bailouts in the form of higher taxes) don’t worry because the government is telling us that you will benefit because this will stem the continuing downfall in home prices. Really? After trillions of dollars of global government stimulus the markets are still down 30% from their highs three years ago. Housing is down by about the same percentage. Jobs are scarce and we continue to reward bad behavior or just plain bad luck in the name of ‘for the good of all.’ St. Louis Fed President James Bullard said recently that, the U.S. is closer to a Japanese-style deflation outcome today than at any time in recent history. That hit the head on the nail better than Fed Chair Ben Bernanke’s recent “unusually uncertain” assessment of the economic outlook. Japan has been performing various forms of government intervention for two decades and they are still in a troubled environment. So what happened to capitalism? What happened to free enterprise? What happened to the concept that the markets will reward the winners and the companies that don’t manage well, or produce products that aren’t needed or overpriced, or did a heap of bad loans would perish. That worked for us for over 200 years. Now the markets appear to be cheering for more government intervention. I never thought I would see this day. I for one would like the markets to decide the winners and the losers. Free enterprise might be a short term more painful path – but it would be quicker and the economy would surely regroup much quicker. Don’t believe me – look at Japan! That is what we should not do – yet we are following their path. Intervention is already here. These markets do not want to go down on every piece of bad news. Let the markets clear the air. Volume has traded at the lightest of the year recently. It is so light that it is lower than levels from not only this year but most every year’s light summer volume has not been this paltry. I think that the markets have become a controlled environment. It’s as if some major investors are saying. “Don’t worry about all the bad news; we’ll hold it up for now, because help is on the way (in the form of more intervention).”Granted earnings season was pretty good, relative to expectations. But when those expectations are lowered dramatically, sometimes it becomes easy to beat those reduced levels. To be fair, some companies are actually doing better than before the recession began – but those companies are few and far between. Consumer credit is still shrinking and higher taxes starting in January is just around the corner. The consumer is needed to drive the economy. Savings is also up causing another crimp in spending. I remember when the following old saying was a joke. Next week Tuesday could be very telling when we hear some variation of it: “Hi - we’re from the government – we’re here to help!” Let’s all hope it all works out – but I for one am not in favor of any more of this kind of assistance. I wish more people felt the way I do and believed we should just let the chips fall where they may and then let’s band together to pick up the pieces. But the likely hood is we’ll just add more scotch tape to the crumbling dam. I hope I am wrong for the good of us all!

Social Security in the red this year Washington Times | Meanwhile President Obama’s health care overhaul has given Medicare’s basic Hospital Insurance an extra 12 years of financial stability, though it did not solve all of the program’s long-term challenges.

U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Impoverished U.S. City Will Close Libraries Mob infested, pervasively corrupt jersey’s most impoverished city will close all three branches of its public library at year’s end unless a rescue can be pulled off. Camden’s library board says the libraries won’t be able to afford to stay open past Dec. 31 because of budget cuts from the city government. The city had its subsidy from the state cut.

Dollar approaches 15-year low against yen The dollar plunged to a fresh eight-month low against the yen after US employment data disappointed expectations, raising the prospect of looser monetary policy from the Federal Reserve.

IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think of all the budget savings from the ever increasing lack of transparency.

Visualize Your State’s Financial Collapse Better Than Ever Just because wishing away local and state financial collapse doesn’t work quite as well as it does at the Federal level (courtesy of everyone’s favorite printer genie), attached is a terrific interactive chart.

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

Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons…First, breakouts don’t always work and momentum stocks have a habit of ending their trends abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I see more risk to the downside here than I do to the upside. …Third, the jobs number tomorrow scares me. No, it doesn’t matter what the number is, we all know it’s going to be bad, what matters is how the market reacts, and I have the feel it’s not going to be good. Fourth, many of my oscillators are overbought here.Fifth, and finally, I don’t like the fact that this rally has primarily taken place on the back of the most beaten down sectors. …It all just doesn’t pass the smell test for me. I’ve been successful at this not because I’m always right, but because I know when I’m wrong and I’m willing to change course or step aside. Right now, I’ll step aside.’

Were Unemployment Claims Really So 'Unexpected'?

Food stamp use hit record 40.8m in May The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.

Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast to increase to 9.6 percent, according to Bloomberg News’ survey.

Gold Alternative To Debt and Market Manipulation The Keynesians are on the edge of implementing more quantitative easing (QE) as we predicted they would.

11 Reasons Why The Federal Reserve Is Bad Millions of Americans are waking up to the fact that the Federal Reserve is bad, but very few of them can coherently explain why this is true.

WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer, August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an additional 24,000 units, while May sales were revised lower by 33,000 units. To summarize, April and May sales were reduced by 57,000 units. Therefore, June sales were 24% above May sales. By the way, May sales were the lowest on record. Is this really reason to celebrate? But wait, there's more. The S&P Case-Shiller Composite Home Price Index inched from 144.59 to 146.43 for May, a 1.25% increase. Many are unaware that the Case-Shiller Home Price Index is a three month average and is released with a two month lag. The most recent 3-month average as of May included the period when buyers still received their $8,000 tax credit. As the chart below shows, despite a 80%+ rally in equities, trillions worth of stimulus money, $8,000 home-buyers tax credit, and a lot of hot air, the Case-Shiller Index has only risen 6 points, or 5.15%, from its March 2009 low and remains 30% below its 2006 high. [chart]
Banks' Toxic Assets: It's no secret that the economy started choking because banks gorged on toxic real estate assets. As the real estate related losses piled up, banks got into trouble and started hording their meager funds and lending dried up. Since then, banks have taken free government money and invested it in various Treasuries. Even yields for short and long-term treasuries (NYSEArca: TLT - News) have fallen, and banks have been earning interest without risk, while businesses can't obtain funding. Another income source for banks has been securities trading. But, since stocks have fallen, so have banks' trading revenue, meanwhile banks' real estate portfolios remain unchanged. Unemployment is persistent and foreclosures continue to soar. Thus far, free interest and rising stocks have covered up the losses racked up by banks' portfolios of toxic assets. But the weak link (falling real estate prices) has not been fixed. Once pressure is put on the chain, it will break again. The problems within the financial sector have been visible all along. 106 banks, many of them regional banks (NYSEArca: KRE - News), have failed already in 2010. At the same time last year, only 65 banks failed. An additional 775 banks are on the FDIC's problem bank list. Unlike Wall Street and the financial media, the ETF Profit Strategy Newsletter bothers to take a look under the hood and examine the engines that drive the economy. It's quite obvious that a number of pistons have blown, the engine is sputtering but the car is rolling downhill. Once the next hill comes, the car (aka the economy) will come to a standstill. AAA can't fix blown pistons, neither can the government.
The ETF Profit Strategy Newsletter regularly and consistently monitors and analysis technical, fundamental, sentiment and valuation gauges to formulate detailed short, mid and long-term forecasts, along with a target for the ultimate market bottom. ‘

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

[chart]

2. BULLISH FLAG ON THE VIX?

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

[chart]

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

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

4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

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

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

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

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

[chart]

5. 1,000 POINT FLASH CRASHES

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

[chart]

6. BOND MARKET DISTRUSTFUL OF THE RALLY

…

7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘

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

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

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

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

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

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

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

Did TARP work? Two economists say yes. (Washington Post) Come on! What do you expect them to say? They’re invested in that position having supported same despite the massive fraud for prosecution and disgorgement was appropriate. Indeed, moody’s itself has been faulted (liable?) for lax valuation / rating standards which contributed to the debacle. Moreover, these ‘cheerleaders’ can always be counted on to toe the network line which ultimately enables the ubiquitous frauds we’ve seen. Amazingly, senile incompetent greenspun, co-architect / enabler of the fraud / debacle was interviewed and used such words in conjunction as ‘modest recovery, pause, double-dip possible, quasi recession’. What total 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 time frame, your guess. On fraudulent wall street, every day, though already discounted in large part (6-8 mos, approx.), the market spins, churns, and with lightning fast computerized high-frequency trade programs commissions in huge volumes like no other time in financial history when real valuation meant something, with no net economic value added, but very lucrative to the frauds on wall street, which ultimately is a net detriment to the economy / the nation /and other industries as we’ve seen and as described elsewhere on this site and in these posts http://albertpeia.com . Preposterously, they even sometimes refer to seasonal factors as if hearing them for the first time and ‘explaining’ an up move (almost invariably already discounted). Today, they shrugged off the deepening economic reality despite the election year frothing / manipulations. This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. ].

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

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

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

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

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

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

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

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

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

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

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

Fed says some districts report slowing economy (Reuters)

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

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

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

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

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

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

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

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

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

Global steelmakers paint gloomy picture (Reuters)

State budget gaps total $84 billion: study

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

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

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

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

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

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

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

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

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

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

• Home sales fell 5.1% in June…’

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

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

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

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

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

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

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

NATIONAL / WORLD

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

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

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

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

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

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

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

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

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

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

Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice displayed by company as they fired thornton for stealing / selling the company’s beer he was supposed to be delivering … The ultimate race card … Riiiiight! You can’t make this stuff up! Fatal Shootings Reponse: 'No One Died After Police Arrived On Scene' Hartford Courant - As police on Friday concluded their on-scene investigation into Tuesday's mass killing at Hartford Distributors, they also began evaluating their response to the tragedy. Police arrest woman they say accepted beer from Connecticut shooter CNN Omar Thornton 911 Call: "I Wish I Could Have Got More of the People" CBS News

Voters Reject Notion That “Government Can Do Anything It Likes” A Rasmussen poll indicates that an overwhelming eighty-six percent (86%) of voters nationwide say there should be “limits on what the federal government can do”, in response to recent comments from pro-Obamacare Congressman Pete Stark.

Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is verifiable, unambiguous evidence that the Austrian government and state prosecutors have faked criminal charges to provide a pretext to arrest and detain me, I am going to apply to the European Court of Human Rights.

U.S. Employers Shed Jobs The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Gold Surges To Three Week High As Dollar Tanks Gold prices have surged to to three week highs as the stock market and the U.S. economy continue to flounder, leaving investors seeking a safe haven in hard assets.

Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last year’s Copenhagen climate summit, the United Nations is pushing ahead for a global carbon tax that will bankroll the expansion of world government as globalists attempt to make Americans pay for the evisceration of their own sovereinty and future prosperity.

Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has come to refer to the addition of over 40 chemicals into the water supply that synergistically come together to wreak havoc on the body and its processes.

Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS show exposes Fluoride for what it is – poison!

Poison Tap Water Makes Number 1 Google Search Poison tap water has become the number one trending search term on Google trends today after our efforts to bring attention to how sodium fluoride in tap water is a deadly health threat went viral.

Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new campaign to inform the public about the toxic chemical fluoride being added to tap water across the country. While EPA scientists and workers are calling for an end to water fluoridation, the government is doing everything in its power to continue and even increase the amount of toxic chemicals being added to public water supplies.

Naked Body Scanners: Monumental Cover Up Exposed At the height of the furor over airport body scanners earlier this year, the TSA publicly stated that it was not possible to store, record, transmit or print out the images that show in detail the naked bodies of men, women and children that have passed through them. At the time we presented evidence to the contrary. Now it has been conclusively proven that the TSA and other federal agencies using the scanners flat out lied to an unwitting public.

Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy Spanish vacation NY Daily News | But while most of the country is pinching pennies and downsizing summer sojourns – or forgoing them altogether – the Obamas don’t seem to be heeding their own advice.

SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP in the weeks following the disastrous Gulf oil spill.

Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility Reduction In its 1968 yearly report, the Rockefeller Foundation acknowledged funding the development of so-called “anti-fertility vaccines”

The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer attempts to offset the overwhelmingly critical response to his attack on Alex Jones by characterizing skepticism of authority in the context of vaccines and mass medication as a psychological dysfunction, despite the fact that the history of government-funded medical research in the United States is replete with examples of scientific abuse against unwitting victims.

Enemy hyped assassination: Iran pres. Iran’s President Mahmoud Ahmadinejad rejects reports about an assassination attempt on his life in Hamadan Province as a plot hatched by the enemies.

China Holds More Military Exercises Amid Tensions With U.S. Chinese armed forces on Thursday continued a second set of back-to-back exercises, underscoring expanding capabilities and ambitions that have prompted unease among top U.S. military officers. That unease has been exacerbated by Beijing’s freezing of military-to-military ties.

Preparing for World War III, Targeting Iran Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.

Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if only the endless war, military complex based pentagon could take it!] The Pentagon demanded on Thursday that whistle-blower web site WikiLeaks immediately hand over about 15,000 secret Afghan war records it had not yet published and erase material it had alrea…

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

On the Bloated Intelligence Bureaucracy

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

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

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

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

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

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

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

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

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

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

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

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

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

Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA APPROVE AT 41%...
WELCOME TO THE RECOVERY...
JULY UNEMPLOYMENT -131,000 JOBS...
Revised: May/June -97,000 jobs than first reported...
Odd mix of bad news...
Michelle Obama 'modern-day Marie Antoinette'...
MICHELLE O'S $375,000 VACATION?!
Strolls Marbella after State Dept. 'racist' Spaniards gaffe...
GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...
JUDGE KNOCKS DOWN MARRIAGE PROP IN CA
BLOW TO O: MO SAYS NO
Voters overwhelmingly rejected federal mandate to purchase health insurance...

Americans swap passports; Desire to avoid tax leads some to renounce citizenship...
Ahmadinejad survives blast near motorcade...
'Stupid Zionists have hired mercenaries to assassinate me'...

FALTERING RECOVERY TRIPS DOLLAR...

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

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

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

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

Maxine Waters faces trial over bank bailout funds...

HOT WATERS
Dems Say Sorry, Charlie...

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

Dutch become 1st NATO member to quit Afghanistan...

FCC ends net neutrality talks (Washington Post) God knows it’s rare for me to commend america for a governmental policy decision, but this is indeed one such moment inasmuch as freedom of speech, constitution, meaningful laws applicable to all, etc., are what define a nation and America, particularly.

Retailers' back-to-school blues (Washington Post) Sounds like a plan! The back-to-school part; and make sure the frauds on wall street along with capital hill are with them … you know, for the readin’, ‘ritin’, and ‘rithmetic, among other fundamentals that they’ve forgotten or never learned. Like adding/subtracting on capital hill, economics/finance/accounting on wall street, etc.. Drogen doesn’t believe they can so this day he’s Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold out of everything this morning, for a few reasons.(infra)

Fannie Mae shows progress (Washington Post) Wow! Talk about wall street spin and parallel universes! I mean, come on; billion dollar plus losses are still billion dollar plus losses; and, given the amounts of money defacto bankrupt america doesn’t have that’s been thrown at the problem, anyone who doesn’t have a sense of foreboding is a fool.

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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